Monday, September 22, 2008

Cash Out

I wish I could find a way to make this funny, but I just don't think it's possible. Just make that check out to Bush and Paulson, leave the amount blank, and kiss your peace of mind -- to say nothing of your kids' future -- goodbye.

(The Huffington Post: Dirty Secret of the Bailout: 32 Words that None Dare Utter/9.22.08)


Riles said...

This is frightening. The Bush administration really has no idea how to operate in an other-than corrupt and secretive manner, do they?

Erica Dee said...

The sad thing is, is I have pretty much given up. I work my ass off for peanuts, I am a college graduate, if that means anything now, and I barely make ends meet. No one my age cares about this stuff and here I have nightmares about it. HELLO! This is our money we're paying to these multi-millionares who fucked up and we're cleaning up their mess!? NO. Fuck no. Sell your houses, your cars, your fucking lives so that you can save yourselves. No one my age has even heard of the term "golden parachute" and they don't care either. It makes me sick that I will be paying for this for the rest of my life. I can't even pay my student loans. Those Wall St. CEOs should be taken outback and shot.

Faine Lichfield said...

Like most (I hope), I agree that this provision is far and away a bad idea. At the very least, I think everything should be transparent so that we can evaluate and question it later if we can't do so as it's happening.

That stated, I'm wondering if there was any serious cunning behind this, or if it was just desperation. According to what I've read so far, Paulson and co. were predicting an economic meltdown that would happen in days if action wasn't taken immediately. If the US economy collapsed, much of the world's economy would be affected, if not go right down with it.

That's just not good on a resume. Imagine Bernanke and Paulson, being the two people most directly charged with preserving our economy, having to say "Yes, there was an economic meltdown on my watch". Bush and co. usually keep people scared to get what they want, but in Paulson's case he may be trying to get what he wants because he's afraid.

That's an important distinction. The logic here may be that more discourse would slow down the process, thereby keeping Paulson and co. from doing whatever they think needs to be done. So, by their logic, the best thing to do is to insert that line stating that they have free reign no matter what. Is it a good idea? Not in the sense of a democracy. We need government transparency. But this is an administration used to secrecy, and they're probably desperate to push things through before they get blamed for destroying the economy instead of saving it.

Just a thought, anyway

Stephen said...

I really want to vomit. Do you think they're hiring in Toronto?

Steve said...

Once all the Torontonians emigrate to Helsinki, yes, they'll be hiring there.