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Don't Call It A Bail-Out
It's not unusual these days that the BBC gets the story right before anyone in the US. However, it's troubling that the BBC has this story, about tent cities springing up around Los Angeles, and there isn't much noise about it in the American press.
The explanation we're hearing now is that what has happened with Bear Stearns isn't a bail-out. It's supposed to be to keep the rest of us afloat. Guess these people missed the boat. I'm sure someone at the Fed just forgot to throw them a life preserver, right?
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Comments (2)
Ben Bernanke and Hank Paulson are deeply moved by the plight of those who have lost their homes. Deeply moved. If they knew what you were saying about them they would take umbrage, sir. Umbrage!
Besides, Bear was a smaller firm by Wall Street standards and Jesus said that what you do to the least of the giant investment banks you also do to him.
March 18, 2008 5:58 PM | Reply | Permalink
I really, really wish I could come up with a witty compliment to your comment here so as to play along, but I'm laughing too hard at the moment. Well played, sir!
March 18, 2008 6:04 PM | Reply | Permalink
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