Words of Advice:

"Never Feel Sorry For Anyone Who Owns an Airplane."-- Tina Marie

"
If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"
Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground
Who is Incapable of Understanding or Doing Anything About It.
" -- Unknown

"There seems to be almost no problem that Congress cannot, by diligent efforts and careful legislative drafting, make ten times worse." -- Me

"What the hell is an `Aluminum Falcon'?" -- Emperor Palpatine

"Eck!" -- George the Cat

Sunday, November 23, 2008

Wrecking Our Economy, Treasury Edition

One thing about the TARP bailout being run by the Treasury Department is really bothersome: The Treasury Department is handing out hundreds of billions of dollars with no conditions whatsoever.

For instance, the Treasury Department gave $25 billion to Citibank, part of over $125 billion that was supposed to free up the credit markets. But the banks did nothing with the cash other than sock it away. That's because Secretary Paulson and his minions (all of which undoubtedly have ties to the banking industry) gave them the money without strings.

But when Detroit came up and asked for $25 billion, my oh my, "we need to see a plan," "what are you going to do with the money," "how can we be sure you're not going to continue business as usual" and so on and so forth.

Hundreds of billions of dollars, going into a rathole.

2 comments:

Anonymous said...

We're giving Citi our house just in case the cash isn't enough to make them happy.

Comrade E.B. Misfit said...

Oh, shit. I am so sorry about that.