Monday, November 24, 2008

The Can of Whoop-ass Called the Citigroup Bailout

No two ways about it.  We got screwed on the latest bank bailout, according to Nobel Prize winning economist Paul Krugman:
A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.

Amazing how much damage the lame ducks can do in the time remaining.
I'm sure the Treasury opened this can on us because we just don't wish enough people a "Merry Christmas" any more.

Is it just me or is the Bush Treasury responding to the total economic meltdown in much the same fashion that Bush's FEMA responded to total destruction of Hurricane Katrina?

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