Bailout Implementation Outsourced

If anybody thought this bailout was a good idea, apparently they didn’t know what was coming next. The bill essentially created a new bureaucratic nightmare, and our leaders were ill-equipped to deal with it. Well, they found a solution.

They have decided to outsource management of this mess. The usual suspects are involved: Goldman Sachs, BlackRock, the Pacific Investment Management Company and Legg Mason, among others-and I include those hedge funds because-even a guy off the street like me knew what kinds of loans these institutions were handing out, so I find it impossible that these Wall Street giants didn’t have a clue. They share some culpability.

It would seem like it was the least they could do, to help clean up this mess, but wait-these clowns will be charging for their services! Maybe I’m wrong, but I bet they don’t work cheap. There is at least one entity who has offered to help for free: Pimco They all should do their share if they’re going to do anything at all.

The World Of rjjrdq

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One Response to Bailout Implementation Outsourced

  1. This bailout just gets more and more ridiculous day by day.

    Did you hear the CEOs are now refusing to partake in the bailout because they don’t want to limit their salaries? Apparently they are now claiming that Wall street analysts think the market is bottoming out and we’re apparently NOT on the brink of economic apocalypse.

    What’s next in this ridiculous opera?

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