Porn Bailout
January 7th, 2009Porn Bailout
XXX
Oh, you knew we hadn’t hit the bottom of the bailout bucket yet… But, the porn industry???
This recession is worse that I thought.
Rumor has it that porn kings Larry Flint (Hustler) and Joe Francis (Girls Gone Wild) are planning to ask Congress for their share of bailout funds.
Wait, does this mean that all taxpayers will be part owners of these companies as well? I might just have to go speak with some of my new employees.
Credit Thaw
November 25th, 2008Credit Thaw
Or Not…
The fed has announced plans (another $800,000,000,000) to help “unfreeze” credit – such as credit cards, student loans, and auto loans.
The first question should be, wasn’t the first $700,000,000,000 bailout supposed to unfreeze the credit?
Instead, the major banks and lenders “hid” the money in less risky ventures – none of which actually helps the economy.
Keep your eyes on this as it unfolds, but don’t assume it will be a good thing. We do need readily available credit for consumers, but the question remains – will this latest funding become available to consumers? And, if it does, how many of them will just end up in the exact same situation that got us into this mess to begin with — with easy credit?
Bailout Fever
November 24th, 2008Bailout Fever
No, Not Fever, Plague
Oh, come on Congressional Democrats… It was no more than a few days ago when I shouted from this blog that there should be NO MORE BAILOUTS!
Clearly, you ignored me. With today’s news, we see “The U.S. government moved to bail out Citigroup Inc, agreeing to shoulder most potential losses from $306 billion of its toxic assets and inject $20 billion of new capital, its biggest effort yet to prevent a big bank from failing.”
Am I the only one getting pissed about this???
Citibank, the same company that only a few weeks ago was in a bloody battle with Wells Fargo as they both tried to purchase Wachovia. How does this happen exactly? How does a company have the means to purchase a huge bank one week, yet needs billions of dollars in bailout money a couple weeks later?
And, why should we feel morally obligated to pay any of these banks – such as Citibank – any of the money we owe them? After all, aren’t we paying their bailout cash with our tax dollars to begin with?
It’s a slippery slope.
