Lake Woebegone and the Bailout

[tekla]

Poor Senator Larry Craig got a truckload of moral condemnation for tapping his wingtips in the men's john, but his party proposes to spend 5 percent of the GDP to buy up bad loans made by men who walk away with their fortunes intact while retirees see their 401(k) go pffffffff like a defunct air mattress, and it's business as usual.

Garrison Keillor on the current events.

http://www.alternet.org/workplace/101694/they%27re_stealing_from_you_and_me_--_where%27s_the_outrage/ 🔗

[Kaitlyn]

It's more like a bail-in.  They're bailing into the boat and they won't stop.

Posted on: October 06, 2008, 10:24:50 amIt might be because the boat's on fire, too.

[tekla]

Nah, the boats just full of fools, idiots and crooks.  Plenty of crooks. 

So they get the taxpayers to take over the bad paper and they keep the good paper.  Genius.

[Kaitlyn]

If it were just the crooks on fire, we'd be OK.