Wednesday, August 5, 2009

Twisted Irony of Bailouts

Bailouts In A Sentence
Isn't this sentence interesting? From each according to his ability to each according to his lack thereof.

Frugal and responsible Americans save religiously and could end up $80,000 poorer if all schemes to rescue the financial system are implemented.

Recently, the inspector general for the $700 billion TARP scheme concluded that “the US government’s maximum exposure to financial institutions since 2007 could total nearly $24 trillion, or about $80,000 for every American.”

Tsk, tsk, how many $80,000 are we able to save in a lifetime? And yet, in one fell stroke to save greedy Wall Street who took home fat bonuses in a five year housing orgy, our money is gone.