Planetary Rescue Operations [Filtered & blocked by Google!]

House Nixes Bailout Plan [for now!]

Posted by msrb on September 30, 2008

The US House of Representatives Rejects the $800 billion Wall Street Robbery Reward Package [for Now!]

Image of the Day: I have a sinking feeling …

[Benny, I have a sinking feeling some of them might be on to us!]

U.S. Treasury Secretary Henry Paulson (L) and Chairman of the Federal Reserve Ben Bernanke (R) testify before the House Financial Services Committee about credit market turmoil and the government economic bailout on Capitol Hill in Washington September 24, 2008. REUTERS/Kevin Lamarque (UNITED STATES). Image may be subject to copyright!

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3 Responses to “House Nixes Bailout Plan [for now!]”

  1. I think it was the $700 billion bailout plan, but what is a $100 billion when you are talking out numbers this big.

  2. msrb said

    $700 billion is politicians’ euphemism for $800 billion or more. Because $700 billion is not perceived as frighteningly close to a trillion dollars as is $800 billion.

    $749 billion rounded off to the nearest $100 billion is $700 billion.
    + Lawyers’ Fees
    + Claims settlement
    + Accountants, management and consultancy fees
    + Commissions
    + Expenses
    + Adjustments
    + Unfulfilled contracts, liabilities, penalties, unpaid bills
    + Charges previously unaccounted for
    + Incidentals
    + “Hidden” extras
    + Miscellaneous
    + Baksheesh [syn: kickback]
    = [At least] $800 billion [most probably exceeding $1 trillion!]

    As for the accounting system they’ll use:
    Remember what they initially said about the cost of Iraqi invasion?

    “Remember the $659 ashtray and the $400 socket wrench that embarrassed the Pentagon in the ’80s? …
    “The latest revelations involve L. Dennis Kozlowski, former chief executive of Tyco. A Securities and Exchange Commission report says he spent $6,000 on a shower curtain, $15,000 for an umbrella stand, $2,900 on coat hangers, $5,960 on bedsheets and $2,200 for a wastebasket.”

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