As the obscenity that is known as the 2008 World Financial Crisis continues to play out, Treasury Secretary Henry Paulson adds a insult to injury. He says that hedge funds do not qualify for the bailout – at least not right now !?!?!?!
``We're focused on financial institutions, regulated financial institutions ...
The program right now is for banks and thrifts.''
http://www.bloomberg.com/...
It doesn’t take a PhD in literary criticism to recognize that hedge funds appear to be on the conveyor belt to federal bailout in the future. The Bible was right. "Blessed be the rich, for they will get the poor schmucks to bail them out to the tune of billions." (As quoted by St. Milton of Friedman)
So let me see if I get this right - -
a) The average person has lost 20%, 25% or more of the value of his or her 401(k) this year.
http://online.wsj.com/...
(Data was before big recent drops.)
http://seekingalpha.com/...
b) General Motors and Ford are on the brink of bankruptcy.
http://www.mlive.com/...
http://www.bloomberg.com/...
c) Airline employees have had to give back wages and benefits.
http://blogs.wsj.com/...
http://www.jsonline.com/...
Nota Bene -
Please feel free to add "d" through "z" in your comments
and then go on to double and triple letters.
And Secretary Paulson is implying that bailout funds may be used for hedge funds in the future? Aren’t these the muthafuggers who caused the problem in the first place?? With all their short selling, mortgage-backed derivatives, leveraging, and utter disregard for any rules or regulations in the financial sector???
Marie Antoinette must be smiling.