So the BREAKING completely expected news is in: the bailout has been agreed to in principle.
But wait... we're not going to tell anybody anything about what we agreed to until we "get it on paper."
Is anyone else thinking WTF?
I guess we don't want to spook the Asian markets that are going to open in about 18 hours. I mean it's important that we maintain a confident tone toward this crisis. It could be disastrous if the market were to lose any more confidence.
For gamblers, Wall Street sure are scared shitless right now.
This whole bailout has made me sick from the start. At some point markets will correct themselves regardless of artificial intervention. And increasingly more artificial intervention (injecting billions every day just to keep the credit market alive) will only lead to a larger crash in the end.
The only thing this bailout is going to accomplish is give the Treasury Secretary control over which banks fail and which banks get to gobble up said failed banks. (What kind of odds do you think I could get that Goldman Sachs will not just survive but profit from this debacle?)
And this fact should be complete fucking anathema to anyone who actually believes in capitalism.
At any rate, why aren't they telling us anything? Can our wittle taxpayer peabwains not understand that fancy financial stuff? I venture to say more people visiting this site know how to fix the economy than Bernanke, Paulsen and all of Congress combined.
I am forced to conclude that whatever they have agreed to must be something so horribly despicable that no average person in their right mind will support it. And like the Patriot Act, we'll find out just how badly we've been fucked after the fact.
I'm not someone who "calls their congressman" because most of them just don't give a shit. But those of you who do that type of thing, please call on my behalf and tell those assholes you are outraged by their contempt for their constituents.
Get me out of this paternalistic nightmare!!!