More Money for Banks, Bupkes for Philly
Philadelphians lose pools and libraries, Citibank gets billions.
Bailout’s not working. Quelle surprise.
I think every single person involved with the collapse of the economy should be hauled off and publicly executed. Intemperate, you say?
The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. It’s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office figures. It could pay off more than half the country’s mortgages.
“It’s unprecedented,” said Bob Eisenbeis, chief monetary economist at Vineland, New Jersey-based Cumberland Advisors Inc. and an economist for the Atlanta Fed for 10 years until January. “The backlash has begun already. Congress is taking a lot of hits from their constituents because they got snookered on the TARP big time. There’s a lot of supposedly smart people who look to be totally incompetent and it’s all going to fall on the taxpayer.”
That would include my Senator, Boob Casey, the former treasurer and auditor general for the state of Pennsylvania, and noted thickwit. I honestly don’t know what else to call someone with that kind of experience who still votes for such a stupid, ineffectual bill. Casey might as well have just taken all that money, wiped his ass with it, thrown it into an empty oil drum, and lit it on fire for Philadelphia’s homeless to use for warmth in January.
At this rate, we’ll either be showing up at the grocery with a wheelbarrow full of marks dollars to buy a loaf of bread. Either that or bartering…
November 25th, 2008 at 1:28 am
[...] Originally posted [...]
November 25th, 2008 at 1:28 am
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January 16th, 2009 at 4:11 pm
[...] That’s because the Senate didn’t bother to place conditions on the funds (like they did with the piddling $17 billion or whatever they loaned (not gave) to the car companies, who actually produce a tangible good). Thus, people like me have been calling the Senator to criticize his original decision to support the bailout. Newspapers, radio stations, and tv shows from coast to coast have discussed how taxpayer funds were abused. Everyone knows that the original condition-free handout didn’t work, and that it didn’t …. [...]