You Got to Be Kidding Me!

Fed to Buy Commercial Paper

Posted in Economics by Stacy McMahon on October 9, 2008

The exact method is TBD, but the newest economic plan is for the government to put cash directly into the credit markets by buying commercial paper (short-term loans that smooth out businesses’ cashflow) The nice thing about this is that it addresses the real problem without putting taxpayers’ money into the hands of the assholes who made the mess – and it won’t cost anything at the end of the day.

The bad part, of course, is that the other bailout is still going forward. So the engine is getting an oil change just in time to stop it from seizing up, but the drunk driver will still be behind the wheel. Brilliant.

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