Thursday, April 09, 2009

Blood from a stone

New York Times:

...[T]he Obama administration is encouraging several large investment companies to create the financial-crisis equivalent of war bonds: bailout funds.

The idea is that these investments, akin to mutual funds that buy stocks and bonds, would give ordinary Americans a chance to profit from the bailouts that are being financed by their tax dollars. But there is another, deeply political motivation as well: to quiet accusations that all of these giant bailouts will benefit only Wall Street plutocrats.

There's something to be said for an even playing field. That's why I like this scenario better:

1). Wall Street pays off all my debts with their money.

2). The government -- funded by Wall Street -- sets me up with a business, and sells my "services" back to Wall Street via placements in the New York Times on the idea that nobody should miss out on the fun. I then "charge healthy fees to investors for taking part" in this exciting opportunity.

If this sounds too good to be true, it is only because the class roles are reversed.

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