Lehman will be the next to be bail out by Fed

Sep.09, 2008 in Market Outlook

Here we go again. I’m waiting in anticipation (NOT!) for the usual suspects to appear in front of the media microphones. Namely, Financial Gangster #1 Henry Paulson. Next on the list, Bernanke. Actually, I have some sympathy for Bernanke. He got stuck with the biggest Fed Chairman loser of all time, Mr. Magoo Greenspan. Finally, the leader of the free world (lol). First, the usual b.s:

PAULSON: As much as we tried to avoid it, we had to bail out Lehman Brothers in order to avoid a financial meltdown.

TRANSLATION: My fellow Financial Gangsters on Wall Street are in trouble so I intend to steal taxpayers money to bail them out so, in a couple of years, they can start to rape and steal off J6P again. Meanwhile, the CEO will still collect millions in bonus payouts. As you can see, the capitalist system works (for those who control it anyway).

BERNANKE: We broke down the numbers and discvovered that a Fed bailout would not adversely affect the US taxpayer and, in fact, eventually the taxpayer will make a profit.

TRANSLATION: Bernanke is running as fast as he can, spouting all the usual sound bites but the tsunami is catching him up. Of course, the taxpayer will end up on the losing end of the stick. When I was younger (much younger) my dad once said to me (when I started to gamble), “Listen to me. The bookmaker’s always win. When you see a bookmaker with downtrodden heels and his pants frayed at the cuff, let me know so I can get you to a doctor because you’re halucinating.” And the Wall Street companies are nothing more than bookmakers.

Finally, the spin master of the century, GW Bush.

BUSH: I’ve instructed Treasury Secretary Paulson to take whatever steps are necessary to maintain the integrity of the markets. He’s doing a heck of a job so far and the American people should know that our economy is strong.

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