Financial plan won’t include “bad bank”

According to a report on Reuters, the new “TARP 2.0” bailout package won’t include a provision for a “bad bank”. A so called “bad bank” is an idea that has recently been floated.  In effect, the bad bank would buy up all the toxic crap from other banks, leaving them with nice clean balance sheets.  […]

Another 350 billion down the drain

Buy the wino another bottle of Mad Dog!  That’s what we did today. The Senate today failed to vote down spending another $350 billion on the TARP program for banks.  In other words, we just printed $350,000,000,000.00 out of thin air and we’re going to give it to banks who made stupid investment decisions. We […]

Trillions wasted in bailouts

Here’s an update on a post I made last month.  It’s an account of the actual dollar amounts given to various recipients of bailout money according to CNN.  Click on the plus signs to expand the lists on the CNN site. Here’s the complete list as of today.  Yeah, it’s really ugly formatting but I’m […]