Word Of The Year
CBS ran a story on Merriam-Webster’s Word Of The Year: bailout
So how does Merriam-Webster define “bailout”? As “a rescue from financial distress.” But Morse says those who looked it up also seemed to want to know whether it had negative nuances or suggested irresponsibility or blame.
What nasty people, wondering if giving hundreds of billions of tax dollars to corporations that were running a Ponzi scheme that is driving billions of hard working people into financial distress had “negative nuances”. What could be negative about destroying the long term viability of once thriving financial institutions by creating mythical assets that absorbed the money of people who actually work for a living.
Echidne has the staged photo op of the banks when government decided to take off the training wheels. All of those pesky rules and “red tape” that were preventing the overpaid gamblers of Wall Street from impoverishing the world as they had in the Great Depression.
One would hope that the lesson has been learned – they cannot be trusted and must be regulated, because every time you allow them to act on their own they bring chaos and ruin.
2 comments
LOL Grover says it’s all the Dem’s fault anyway. 😉 😀
Norquist: ‘The Economy’s In The Present State’ Because Democrats Took Control Of Congress In 2006
Maybe Sesame Street can sue the moron for copyright infringement. LOL
Amazing…
In a way, Grover’s right – the clowns on Wall Street realized someone might start investigating their fraudulent deals and Ponzi schemes and panicked. They shouldn’t have because Pelosi and Reid are going to allow any real investigations to take place. Everything will be swept under the rug.
The good news is that the unwillingness of the US to investigate and prosecute causes provisions of the International Criminal Court to kick in. The US can’t initiate anything because they didn’t sign the treaty, but the rest of the world can proceed.