Friday, January 2, 2009
Financial Market Bailout, uh, Outright Robbery Update
I posted a version of this collage the day after the Wall Street bailout package was proposed by the Secretary of the Treasury. At that time the scheme was portrayed as instantly necessary. And most of those who proposed the $700,000,000,000.00 deal claimed that it was totally in everyone's best interests, and not very risky for U.S. taxpayers, who are now footing the bill.
Platoons of Brooks Brothers-attired supporters of the deal, showing up in the national MSM backed the necessity, and opined about how open the process would inevitably be, because Americans wouldn't stand for "our" money being handled secretly.
Here's a YouTube from back in the late summer, of one of the Wall Street backers of the plan as then conceived:
But now, PIMCO, Blackrock Inc., Goldman Sachs and Wellington Management are being paid what are undoubtedly large sums to "manage" aspects of the bailout. And - they're ALL refusing to tell us how much they are being paid, and the Bush administration is doing all it can to assure we don't even get close to finding out.
How sweet it is!