Tag Archives: bailouts

When A Billion Isn’t Big Anymore

Not so long ago, a bil­lion dol­lars was a lot of money. Now? Not so much. This morn­ing, news on the wire says Obama is set­ting aside $75 bil­lion to slow fore­clo­sures. First of all, where did that $75 bil­lion come from that he’s set­ting aside? Oh yeah: “com­mit­ting $75 bil­lion of tax­payer money to […]

Bailout FAIL

So let me get this straight. Given how well the past 5 or 6 bailouts have worked, our gov­ern­ment has come up with a new one that will “bol­ster con­sumer financ­ing”. The the­ory (hor­ri­ble though it is) is that by giv­ing lots of money to banks, they will make financ­ing and credit avail­able to consumers […]

Wells Fargo Chairman Prefers To Save His Own Ass

Bloomberg is report­ing that Wells Fargo Chair­man Richard Kovace­vich prefers the lat­est plan from the US to invest directly in banks through stock pur­chases over the orig­i­nal plan to buy up toxic assets from trou­bled banks. Of course he prefers this plan, it’s the one that works best for him as the CEO of a […]

Root Causes

I’ve been read­ing a lot of arti­cles lately related to the bailout specif­i­cally and our crappy econ­omy in gen­eral. More and more, a nefar­i­ous lit­tle meme is show­ing up and it’s start­ing to drive me insane. Tim at The Mess That Greenspan Made has been harp­ing on it as well. It’s usu­ally sub­tle, placed 7 […]

The Bailout (the short version)

Via The Mess That Greenspan Made