Bailout Plan "Not Acceptable" To Congress

Story is here.

The Financial Times torched the plan on the basis that the assets may not be worth bupkis by the time the U.S. wants to withdraw its involvement, resulting in a monster size write down that will ultimately have to be compensated for by taxpayers. So you have asset deflation, few loans being made to consumers and businesses, resulting in a stagnant economy and an increased tax burden coupled with our economic future now being decided by a combination of China, Saudi Arabia, Japan and Mexico.

And I hope nobody is planning on any foreign leisure travel for the next five years, because the dollar is probably going to be worth about as much as the peso during that time---if we are lucky.

Bush, Cheney and their congressional enablers (Mitch McConnell, Tom Delay and Bill Frist, I'm looking your way!) are guilty of a particularly insidious form of treason. They should all die in jail for this.

Approved