Wall Street Manna

An irreverent look at Wall Street

Saturday, December 20, 2008

Paulson wants the next $350 billion

Secretary Paulson wants the next $350 billion of the TARP program. Only in the United States, would somebody allow the Treasury to screw the taxpayer, and do it by the name of the program.

Would "investors" have been deceived by Madoff if he would have named his program "The Bernie Madoff Money Stealing Ponzi Scheme?"

Now look at Treasury. What is the program called? The TARP program. The Troubled Assets Relief Program.

Where is all the money going too?

The banks.

Then aren't the banks the "Troubled Assets" in this country?

Is it any wonder why Secrtary Paulson said just a few days ago, that there would be no more big bank failures?

The "fundamentally sound" banking program is our country's "troubled assets!"

And only in America, can we have a Secretary of the Treasury "wing it" with $700 billion.

Can you imagine flying on a plane, with a pilot that was just "winging" it?

So why do we allow this Joker to adminster these funds.

That's just plain wrong!

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