While Congress Cheers The Bailout...

Today the Congress approved one of the biggest blank checks in history. How could the legislature get behind Wall Street and George Bush's proposal to give our money to these crooks and liars? Well it's really easy actually, just add another $110 billion dollars worth of treats and you'll get the extra votes you need.

From Smart Money:

Some relief could be on the horizon for contracted credit markets if the House on Friday votes for the bailout plan approved by the Senate late Wednesday. While most of our pundits concede the necessity of a rescue in some form, the unappetizing aspects of legislative sausage-making that pushed the price tag for taxpayers up to as much as $850 billion could prolong resistance to the bill.

"What started out as a two-and-a-half page proposal is now hundreds of pages and includes 'bells and whistles' (earmarks) such as: tax benefits for film and television productions, stockcar racetrack owners, wooden arrows designed for use by children, six pages worth of earmarks for litigants in the 1989 Exxon Valdez incident; and tax earmark extenders for Virgin Island and Puerto Rican rum-makers, American Samoa, mine rescue teams and mine safety equipment," Charles Schwab analyst Liz Ann Sonders wrote Thursday. "No, I'm not kidding about this!"

Washington analysts like Tom Gallagher, who tracks policy for the ISI Group, began handicapping the House vote like horse track habitués, and decided the odds were in favor of passage by the House.

"We believe the GOP leadership has secured enough votes to pass the bill," he wrote in a Thursday policy report. "But the Democrats expect to pick up a few votes as well, which should produce a majority for the TARP. But the package hasn't changed much and we don't expect very many of the 'no' votes to change their votes, so while we think it will pass, the vote will be close."

So the damn thing passed and now Wall Street will have our their filthy money and Congress can say they got us some goodies that will cost us even more. So while Congress cheers, the rest of the nation is left with more sobering news, such as the fact that the economy lost another 159,000 jobs in September alone.

Of course, Mr. Anti-Earmark Money himself voted for this, which is no surprise to anyone because he has the uncanny ability of being for something in one sentence and changing his position in the next. He could care less about what happens to the rest of us as long as he gets to be President and gives large tax breaks to his wife and the wealthy elite like her.

I guess we should be happy with the pork we got, right? I think I'll get into the wooden arrow business or even better, make rum down in Puerto Rico. Heaven knows we needed that garbage! Maybe I'll just say f*&k it and paint, perhaps something like the latest Banksy piece on Broadway and Howard right now.

Of course, there is some good stuff in there I'll admit. Increasing the FDIC limit to $250K is a nice thing. Honestly though, this is akin to letting the water out of a manmade lake in order to save a couple of yachts while the middle class's S.S. Dingy will be sitting stuck in the muck at the bottom of the pit.