The first clue should have been when Wall Street sang "Happy Days are Here Again" on Friday. But if anyone thinks that using $700 billion of our money to bail out the very same people who got us into this financial mess while holding them unaccountable is going to get us through, forget about it.Dave Johnson
says you can kiss your pension, your 401(k) and Social Security goodbye
. There's no more money because the Wall Street guys get it all.This lovely graphic
from today's New York Times
shows what the stock holdings of these goniffs
are worth even AFTER they ran their companies into the ground.Brad DeLong explains
succinctly what the possible consequences of Democratic capitulation on this particular piece of Republican blackmail could imply.Nouriel Roubini argues
for a return of the Home Owners Loan Corporation (signup required)Digby remembers what happened
the LAST time the Democrats allowed the Bush Administration to bully them into giving him a blank check.
Much as I hate to link to any of the pull-up-the-ladder-behind-them alpha dogs at Open Left, Matt Stoller has received an e-mail
from one member of Congress who is not going along to get along.Sam Seder says this is Obama's FDR moment
on how Sarah Palin, that strong, tough, independent woman has to be protected like a hothouse flower from her own ignorance
at the Vice Presidential debate. (No, this isn't about the Wall Street mess, but Palin's very presence in this campaign is a symbol of how FUBAR we are.)Pudentilla has a modest proposal
as an alternative to Dictator-for-Life Paulson.
Your assignment for today: Read up on this $700 billion bailout. Then call your Senators and Congresscritter tomorrow and ask why you have to pay for all this while the guys who got us into this mess don't have to do so much as give up their bonuses.
Labels: bloggers, economic death watch, FUBAR