
OK, so I am shamelessly adulterating a Beatles hit. Money may not be on everyone's mind, but the economy sure is dominating the headlines. Sad state of affairs.
-The bail-out package that the Senate will vote on tonight has swelled to $700 Billion dollars- with more tax breaks for the folks who got us in this mess to begin with.
-FDIC Insurance will increase to 250K. I am sure every one of us here in MyBloggerstown is ecstatic to hear this. It will change our lives forever (not!).
-No penalties for the buggers who made obscene amounts of money getting us into this mess. Some of those tax breaks will in fact, benefit them. (I am reminded of a phrase a friend of mine used when talking about folks who make bad decisions: "Remove the Consequence, and you remove the Reality.")
-The banking industry and mortgage lenders have red-lined entire neighborhoods. No matter how good your credit may be, they will not finance mortgages in neighborhoods with high foreclosure rates. No one suffers except the middle class.
-The banking industry has become so tight that the state of Florida cannot borrow money anywhere.
Will everyone ready to bail me out please form a line to the left? All donations are welcome.