Monday, September 22, 2008

Get On Board

There's likely to be 700 billion dollars worth of free money flying around once Hank Paulson's spending spree gets underway, and the number and type of entities from whom Hank can buy crappy assets is ever-expanding. So why not try to hop on the gravy train? If you've got some "undervalued" assets on your hands, head over to and sign up for a taxpayer-funded bailout. If you're a US taxpayer, of course, you'll be paying ridiculous prices for your own shit, but hey, that's better than paying ridiculous prices for someone elses' shit. If you're Canadian, it's all good, since it seems likely that Hank will be buying up shit from the likes of Deutschebank and Fortis. Frankly, I'd rather have my taxes going to buy dilapidated Ikea furniture from low-on-cash McGill students than have my taxes going to buy the financial Potemkin village created by the "innovations" in finace capital over the last decade. If Congress is going to make Hank dictator, they could at least pay for some bread to go with the circus.