The Motherf.....ker Of All Bailouts
That's where we seem to be headed. Masters of capitalism, my ass. These folks are parasites. But you knew that already.
Via Calculated Risk, four insurance companies are seeking to buy thrifts so they will qualify for bailout money, Yes, that's right, they have money to buy thrifts, but we still need to bail them out.
American Express is now a bank. At least for bailout purposes. Not for regulatory purposes, I'm sure.
The Government is insuring debt issued by GE to the tune of $139 billion. Read more about Breaking News: Every Corporation In America Asks for Bailout
This post is largely an attempted response in the form of a summation to the long comment thread Lambert"s "Roubini" post of yesterday continues to produce. I have used so many tags because this crisis is the sum total of all the Bush/Republican/Rightwing shit we've lived through for the past eight years, and the similar shit stretching back to Nixon and Reagan. Read more about What Message To Obama and The Democrats?