The Bailout, Part 2

30 10 2008

That was a huge success.  Who would have thought investment banks would have used that money to provide bonuses to folks who failed?  What a precendent.

Bonus:  Now everyone can say, in parentheticals, (in these uncertain economic times), and not know what they mean.

Double Bonus:  Alan Greenspan:

“In other words, you found that your view of the world, your ideology was not right?” Waxman asked. “Yes, I found a flaw,” Greenspan said in response to grilling from the House Committee on Oversight and Government Reform. “That is precisely the reason I was shocked because I’d been going for 40 years or more with very considerable evidence that it was working exceptionally well.”

“Those of us who have looked to the self-interest of lending institutions to protect shareholder’s equity (myself especially) are in a state of shocked disbelief,” said Greenspan, who stepped down from the Fed in 2006.

Bound to found in Dickipedia any moment now.



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