What Else Do You Need To Know?

HERE!  Getch'er free money HERE!

God help us, there's going to be another gummint bailout.  Prez and Congress can't quite figure out how much it should be, $1.2tril or $1.4.  Can't get closer than 200 billion, that is.

I wrote extensively about the last bailout, back in 2009.  For instance, and please excuse my immodesty:

What Else Do You Need To Know?

We tax all the others and pass the revenue on to you

AIG... you remember, the guys who got $170 bil of your money for bailouts in the last seven months, those guys? American Insurance Group.

The guys who won't tell Congress where the $170 bil went?

The guys who won't tell us who their "trading partners" are, the trading partners that the Wall Street Journal reports got $50 bil of that money, trading partners that include Goldman Sachs and Merrill Lynch?

The guys who already spent a bunch of bailout money on a party for their executives?

The guys who just got a comittment for another $30 bil of your money for bailouts?

Those guys?

They're going to pay out $100 mil in bonuses! 

Have to, they say. Bozo bonuses.

What else do you need to know about the bailouts? If this was a rational world there would never be another government bailout of anyone for anything.

NEVER!

Words fail me.

What's gonna be different this time?

Politico, two days ago:  "Even by Washington standards, a trillion dollars is a lot of money. It could fund the Environmental Protection Agency for 120 years, or the Securities and Exchange Commission for 550 years, or 20 end-to-end border walls with Mexico. It could buy every American adult four new iPhone 11 Pros. The last time the U.S. economy imploded, after the 2008 financial crisis, House Speaker Nancy Pelosi warned then-President-Elect Barack Obama’s team that if he wanted to pass a stimulus bill, he shouldn’t even bother proposing anything that required the T-word."

But President Donald Trump is about to do just that, and suddenly a 13-digit ask no longer seems so controversial.

I HAVE to recommend the Politico article.  It's even better if you read some of my 2009 blog posts first.