Right to the Fight

In a world where fighting for what we believe in isn't accepted because we should all be nice to each other... I say that is absurd. War, politics and business, or religion if thats your thing...Keep the language reasonably clean...and duke it out! I'm a Conservative...unlike the Liberal sites everyone is welcome to post here.

Monday, September 22, 2008

Bailouts and Christmas Trees! A new RTC??

I consider this to be a separate thread and issue...since it is broader than just the Mortgage and Housing shit going on...I would like to know what others think of the proposed Bailouts. It is already looking like any measures passed to address current woes, will become what they call in Washington a "Christmas tree"...with the Congress being unable to resist the urge to hang on every imaginable bit of wasteful spending...government "pork", the gift that keeps on costing.
In Washington, there is nothing that we can't afford, that they can't give away...

CNBC on Friday asked for suggestions for a name for the new Entity to handle the Bailout (like the old RTC)...one of my personal favorites was "the Stabilization and Housing Investment Trust" [SHIT]

I was going to propose, "the Corporation for Economic Stabilization and Securitization" [CESS] since they were planning on buying and holding pools of illiquid assets and securities of which the true value is unknown. I thought regular reports concerning those assets, would be fun...reports about the cess-pool :)

Looking forward to other suggestions...if this stuff gets approved. The old RTC (Resolution Trust Corporation) did fine, but I think the new plan/efort will fail.


DB
Chicago

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