Bailout Update: Putting Pickles On A Crap Sandwich

Ok, so the market is doing the unexpected thing:  the day after the bailout/rescue was passed by the Senate, the DOW is tanking…  hard.  It closed 360 points down

Why?

Well, there are a few things going on…

1.  The Unemployment Report is coming out tomorrow and it is not expected to be very pretty.  The highest unemployment since just after 9/11 is predicted and that has the market freakin out.

2.  GE, a standard bearer for the market and a blue chip stock, had some issues, is being propped up by non other than Warren Buffet, but dropped 10% of its value anyway…  bringin the rest of the market down.

3.  Wall St is freaked out on whether or not the bailout/rescue will pass the house (not to mention that it is not that great a bill, and much of the bailout money is going to be used to bailout foreign banks, and is now a bloated behemouth that has earmarks and tax breaks galore)

4.  Harry Reid, the moron, talked about an unnamed Insurance company on the verge of collapse and caused a run on insurance stocks, bringing down the market as a whole too…  CLICK HERE

5.  And on top of all this, now the Democrats in the House are proposing to add a $60 BILLION “economic stimulus” package to the back of it… as if that won’t throw a friggin monkey wrench into the whole deal and hold up passage. 

It’s like they are putting pickles on a crap sandwich!

So, what Congress was given was a very simple proposal to buy up 5% of the tenuous mortgage backed securities to relieve the asset strain on the banks and, hopefully, allowing those banks to loosen up on credit availability.

Now, it is a gargantuan hodgepodge of a bill with a bailout bill, an energy bill, a tax reform bill and an economic stimulus bill all rolled into friggin one.

.

You have got to be friggin kidding me!

Please…  Vote Every Single One Of These Idiots Out!

Holy Crap.

As I said before…  every single day I buy into the whole McCain/Palin reform Washington schtick.