Sunday, September 28, 2008

It's The Economy...Stupid.

Ah, the mantra of the Clinton campaign team back when the dollar was actually worth 67 cents...

So, wanna know what the government is selling? "To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, and for other purposes." More here.

When it comes to the current meltdown, one of the more interesting items found as of late: "A banking system in crisis after the collapse of a housing bubble. An economy hemorrhaging jobs. A market-oriented government struggling to stem the panic. Sound familiar?"

Perhaps another upside?: "Barron's analysis of the plan indicates that taxpayers and their proxy, the Treasury Department, will fare well in the bailout and should actually turn a profit over the years ahead."

Extra: The New York Times' web site ran photo No. 1 (below) with regard to Congress' work on the bailout. Apparently, it struck the wrong chord with some, so they went with No. 2 (bottom). I wonder why...?

(Photo No. 1)Barney "Bailout" Frank: Swearing that
he helped
us get where we are with this mess today?

(Photo No. 2) Ben "Bailout" Bernanke: How low will it all go?

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