Sad to say, but "South Park" does a good job explaining things. Here Stan finds out exactly how the bailout works.
Makes as much sense as anything.
Results tagged “bailout” from Argento's Front Stoop
Sunday's column has to do with the wildly entertaining House Financial Services Committee hearing on the bailout.
I know, it doesn't sound funny. But check it out.
First, we have Rep. Maxine Waters, a California Democrat.
Read the Los Angeles Times story about Waters' lobbying for a bank that has her husband on its board of directors here.
And then, Rep. Michele Bachmann, a Minnesota Republican.
Democracy in action!
Here is a New York Times story about the currency thing Bachmann was talking about. It doesn't really have to do with a world currency replacing the dollar. It's a little more complicated than that. And still, Geithner is not in favor of it.
Also, props to the snarky political blog Wonkette for its coverage of the hearing.
Neil Young rocks the bailout. The chorus:
"There's a bailout coming but it's not for you.
"It's for all those creeps hiding what they do.
"There's a bailout coming but it's not for you.
"Bailout coming but it's not for you."
You're probably wondering, where did the experts in charge of all of the Wall Street bailout come up with the $700 billion figure. Why not $500 billion? Or a trillion?
Forbes.com asked the Treasury Department and got this answer:
"It's not based on any particular data point. We just wanted to choose a really large number."
Have a nice day! See you in the bread line!
