Pulling the Wool Over Our Eyes

Sheep, Comptrollers and Rum provide much needed relief to wallstreet.

My reasons why the new and improved bailout plan is our new hope. A chance for a new beginning and will save our homes and economy from impending doom.

1. Increase in limit on cover over of rum excise tax to Pureto Rico and the Virgin Islands

While not well written "cover over of" know that on our next cruise or visit to the southern carribean we'll all be in good spirits! I could probably not even go into point 2 and 3 of why this great plan will work! Directly from the bill I kidd you not.

2. Study and Report on Margin Authority

Directly from the bill "The Comptroller General shall under take a study to determine the extent to which leverage and sudden deleveraging of financial institutions was a factor behind the current financial crisis."
It does not say what this will cost, I'm sure a fraction of the whatever billion. Doesn't it make sense to you that this would be something we would have already done to determine how to fix and prevent the current problems. Maybe before we put pen to a 451 page bill that contains more cr*p than a biomass refinery. Which by the way is also in the bill... that we would have already done as much analysis as possible before something of this magnitude.

3. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.

Now, there you have it. No pulling the wool over the public's eyes. We will all be rich next year from our tax break for the suspension on wool products and the wool research fund. I can't make this up.

Does this sound like I made this up. When I tell people about these subtitles and sub-sections they do not believe me. My dog looks at me this way when I try to explain carbon dioxide sequestration. If you don't understand this either search for "carbon dioxide sequestration" in the bill. You'll find it.

The bill is here in pdf format for your reading pleasure.

Do I think something needs to be done. Yes, when I make a bad decision there are consequences. There are people who need to pay for allowing this breakdown in our lending and banking policies. They were elected or hired to protect us from bad lending rules and wallstreet greed. There are CEOs and others that have profitted from this. Yes, we need intervention but we need accountability first or it will happen again.
There you have it. Housing and economic crisis has been averted. You can now go do your income averaging for amounts received in connection with the Exxon Valdez litigation. You guessed it, also in this bill.

Whew!

 

- Michael Polly