BAILOUT BONANZA

Townhall.com ^ | 14 November 2008 | Andrew Roman

[andrew roman]

And so it continues …

The $700 billion government bailout fiasco is officially a parody of itself. David Zucker couldn’t have written it any better. It is a colossal joke – not only watching the federal government swipe taxpayer dollars to “save” the country from financial ruin in what I (and many others) knew would be a veritable showcase of disorder and incompetence, but also observing the procession of “gimmee” merchants swarming in like seagulls to get their free block of cheese.

Hands are outstretched, and stories of impending doom are rehearsed and ready to be dealt to the Henry Paulson Distributing Co-operative.

I cannot help but envision some dying-of-cancer billionaire somewhere, without a family, wanting to repent for a lifetime of sin by "getting philanthropic." He announces that before he passes on he will be handing out large chunks of his fortune at the local mall to "help" people in need. He proclaims that all one has to do to get paid is explain - in a thousand tears or less - why he or she needs the money, e.g., spin a tasty sob story while sufficiently humiliating yourself. Can you picture the line of sad sacks and freeloaders snaked around from the mall's entrance along the length of the building, stretched on down the road for four miles?

This is, in effect, the scene outside of Treasury Secretary Henry Paulson’s office.

Of course, in this case, the government is using our money to "help." There's no philanthropy to it.

I have to ask ... This is America?

Welcome to Bailout House.

Each day brings more tales of industries on the brink of death, seeking some of the bailout bread. (Keep in mind that America was supposedly on the brink of complete collapse last month when the Bailout just had to be passed immediately).

And now, this morning ... the latest beggars, with arms extended and palms up, have gotten in line. And these aren't corporations. Rather, they are American cities – actual cities.

As John Hurdle at Yahoo News writes:

Three major American cities buffeted by the global financial crisis are requesting at least $50 billion in federal funds to help pay for infrastructure improvements, pensions and short-term borrowing.

Philadelphia, Phoenix and Atlanta are asking U.S. Treasury Secretary Henry Paulson to release funds from the $700 billion financial bailout authorized by Congress last month.

Philadelphia Mayor Michael Nutter will hand-deliver the request to Paulson on Friday, spokesman Luke Butler said. Five or six other cities, including Chicago, may also sign on, Butler added.

Congress set up the so-called Troubled Asset Relief Program to help banks and other institutions that were ensnared in the global credit crisis. But since President George W. Bush signed the bill into law, numerous other entities, including the U.S. auto industry, have lined up for help.

Later on today, Treasury Secretary Paulson is expected to meet with the Tattoo Artists' lobby and the Belly Button Lint Guild.

Is this the bailout line?

_

[Heartland Mom]

Where should I send my bills? To Zero directly or Nancy?

[scooby321]

Hey Hank I need some cash too my investments to a hit on your lies. I too am using that money for retirement.

I could expand my home too.

[andrew roman]

I’m thinking of maybe a new hard drive for the computer ...

Or some new socks.

Andrew Roman
Brooklyn, NY

[sickoflibs]

“The $700 billion government bailout fiasco is officially a parody of itself. David Zucker couldn’t have written it any better. It is a colossal joke – not only watching the federal government swipe taxpayer dollars to “save” the country from financial ruin in what I (and many others) knew would be a veritable showcase of disorder and incompetence, but also observing the procession of “gimmee” merchants swarming in like seagulls to get their free block of cheese.”

Hands are outstretched, and stories of impending doom are rehearsed and ready to be dealt to the Henry Paulson Distributing Co-operative.

CLASSIC! CLASSIC!

[Moconservative]

Let’s just have a bailout holiday for everyone.

Every January 1st everyone who has debt owes nothing. We’ll just all start over.

We’ll celebrate the new year debt free.

[uncbob]

Wonder if the posters on this site that were emotionally crying for the bailout have regrets

[I see my hands]

"watching the federal government swipe taxpayer dollars"

Corporations generate hundreds of billions of tax dollars which are stolen on a regular basis to bail out the federal government. The federal government.. that's you and your stupid bridges and roads. Build your own infrastructure then carp about corporate welfare.

I'd rather see the corporations who generated the wealth take it, divvy it amongst the execs, and close shop than for $1 to be given to a school.

Financial devastation? Fine by me. The parasites will suffer most. Johnny Come Lately anti socialists (anti socialist-lite, still and yet), should have become indignant long ago.

[boxer21]

Have we no shame? Imagine the disgrace of a Mayor or corporate CEO begging for money from Henry Paulson. Isn’t that proclaiming that “I am a failure?”

Sadly though and the real shame is these people have no feeling of disgrace or incompetence. Beggers don’t feel disgraced in the company of thousands of other beggers. Will we all become beggers?

[andrew roman]

It is where we are headed, it seems.

Good points.

Andrew Roman
Brooklyn, NY

[incredulous joe]

Why should we bailout these corrupt morons?

Haven’t cities gone bankrupt before?

How would they learn to regulate their spending?

What is the party affiliation of the mayors of Atlanta, Philadelphia and Phoenix?

[hermgem]

Cities who govern by a you to me and I to you relationship with unions clamor for federal handouts to bail them out.
There is no way taxpayers can afford to fill the till of public service employees whose salary, benefits, vacations, off days, pension levels etc. are above those destined to pay for this overblown apparatus.
To subsidize cities, states, will keep things as is and doom the entire country with inflation, unemployment, businesses fleeing out of town, state, country.
Solution: declare bankruptcy, redo labor contracts, cut staffing, farm out services from garbage collections to accounting.
This is what N.Y. City once was forced into.
No bail outs they will only prolong the agony prior to unavoidable collapse.

[waverna]

Its like the movie, “Its a Mad mad mad mad world.”

Everyone is scrambling to the big W to get their piece of the fortune.

[jpl]

Who made Henry Paulson our national Santa Claus in Chief, anyway?

Oh yeah, that's right, Congress and George W. Bush did.