Thursday, June 26, 2008

Pssst, wanna make a quick $750K tax free?

The Senate passed the Countrywide - Chris Dodd Bought and Paid For - Bailout bill. It will cost $300 billion dollars. And it is supposed to save 400,000 home "owners" from foreclosure. I ain't no mathematician or nuthin, but that comes out to $750,000 per house. And my question to the senate is HAVE YOU LOST YOUR FUCKING MIND? Even if all the 400,000 are in So. California that is still an insane amount of money to spend her house. But why let pesky details like that get in the way of a feel good story. Now the corrupt Chris Dodd and the 82 others worthless pieces of garbage that voted for this bill can go home and say they helped home "owners". But hey, what's another $300B in wasted tax dollars these days? Once the ink is dry on this bill they'll get right back to figuring out how to give me FREE health care which will cost $3 trillion.

At the end of the day it still won't do anything to end the housing crash. The result will be bank will only lose single digit billions instead of double digit billions. The deadbeats who would foreclose this year will foreclose next year or the year after. The only winners from this debacle are shareholders of countrywide and Bank of America. The other 99.9% of Americans are getting a big middle finger from the people supposedly elected to represent us.

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