Wednesday, Sep 24, 2008
Chairman Bernanke states that the US economy faces "serious consequences"
BBC: Bernanke demains bail-out action
In what is one of the largest issues facing the US in generations, Chairman Bernanke urges politicians to "act quickly" and support the farcical mother of all bail-outs. The whole plan, which plans to buy debt at considerably more than its current market value will saddle the US taxpayer with debt in excess of $1 trillion. To top it all off the bail-out will ensure that top directors still receive their bonus.
Presumably that bonus is just reward for the quite staggering grade A f**k up caused by almost unbelievable mis-management.
Posted by denzil @ 09:25 PM (360 views) Add Comment
4 Comments
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1. japanese uncle said...
The consequences of his own making and design.
2. Fingerbob69 said...
You can now smell the fear through the TV all the way from Washington DC. With Libour now 145 bpts over and Preston saying he can't evalulate the blank cheque as proposed under the Poulson Plan because it's a blank cheque. And so Congress wont pass it as it, never mind Article 8 and so él Presidenté is gonna go on TV and beg... tomorrow is gonna be large!
3. enuii said...
$1 Trillion is $3333 for every man, woman and child in the US, looks like the US will have to resort to Gordon Brown stealth taxation techniques to surreptitiously extract it from the masses.
4. paul said...
Ah yes, this is an old film plot trick.
Its where the villain holds a gun up to the damsel's head and says "I killed all your friends and now I'll kill her then I'll kill myself unless you do exactly as I say".
So, isn't this when the protagonists sniper buddy in the tree takes out the villain from 200 feet away in a single shot to the temple? I think it is.
It certainly should be.