Today, the Bush Administration announced that the federal government would be buying shares of nine largest banks and financial institutions in the country. The agreement assumes that when the stock market gets going again, and the credit starts flowing and the economy recovers, these banks will buy these shares back from the government.
El Presidente Bush said these drastic measures were "not intended to take over the free market but to preserve it."
Comrade Paulson said "We regret having to take these actions. Today's actions are not what we ever wanted to do -- but today's actions are what we must do to restore confidence to our financial system."
How stupid do these fuckers think we are?
This is a classic "bait and switch" isn't it? The major banks transfer the risk to the government (the government spending money it doesn't actually have), investors start buying shares due to the lower risk, the stock rises, and the banks buy the shares back again, presumably for the same price? And everything goes happily upward on its merry way?
Nothing changes! The magician puts the bird under the handkerchief, and "vola!" the bird disappears - or in this case it's a stinking pile of shit in the palm of his hand. Then, after washing his hands clean and receiving a rousing applause from the crowd, he goes backstage and retrieves the pile of shit from his pocket or his sleeve or wherever the hell he moved it via sleight of hand. The result is the same: the magician is holding a stinking pile of shit!
This country is going stupidly insane - cheer the magician on, dumbstruck crowd!
I'm not fooled.
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