You know too that this take over or buy out of AIG has some real Constitutional challenges. Where does the authority come to just spend 80 billion of the tax payer dollars to buy into a PRIVATE company that in reality is beyond the scope of the Treasury or the Federal Reserve. I am waiting for that shoe to fall. Then what?

OH BTW, one thing I can confirm is that I have to take my money out of Washington Mutual. They put themselves up for sale today about 5:00 pm. Essentially, no one is going to want them, so what befalls that institution in the near term? If they can’t solve their own problems, who is going to? Bet the Fed will ignore this one.

The short-selling phenomenon has been insane.
Concentrating power in the Fed, as the Fed chief is demanding and as the White House is agreeing – is insane.
Congress is as usual being spineless and going along with it.

Another $85 billion gone today, into buying out AIG.

General Motors, Ford, and Chrysler are spinning down and the Business Week says on TV that we can buy Toyotas.

The idea that we can have a country with prosperity but no jobs has taken root and is no longer commented on.

Today someone suggested this was a deliberate move to destroy the economy so Carlisle Group, Cerberus, etc. can sweep in and buy out all the country’s assets – cheap.

Dick Cheney never did sell his stock, as I understand it. Bush Sr. is heavily into Carlisle. Makes me wonder. I don’t normally believe conspiracy theories but…

… either that, or the government is desparately trying to stave off the worst depression since Roosevelt tried to put an end to depressions (and he would have been successful had the SEC, S&Ls, etc not been so deregulated).

Yet Bush still is escalating military spending and has yet to announce a goal for the occupation of Iraq, or any sort of condition that would allow us to withdraw… even after the Iraqui government politely asked us to start leaving.

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How they must feel when they see BILLIONS of dollars tossed out, almost cavalierly in “saving” poorly managed MONEY companies. With America powered in it’s economy by the automobile industry, the good folks running those industries need to get on a public pulpit and point out how THEIR FAILURE WILL destroy the economic engine of this country!

AIG? That isn’t even a BANK! Its an INSURANCE company, and now, YOU and I, and everyone here in this country owns about 80% of it. Who ever………….. well I don’t want to enter into digression.

So, if AIG isn’t a bank, and the Fed saved it, then why not the American car companies? They are not even asking for rescue, just some LOAN GUARANTEES! Of which, when extended, all have been successful, and the wildest was for Chrysler back in 1980 that was REPAID, WITH INTEREST, YEARS ahead of schedule. Same situation exists right now. The programs, vehicles, and technology are IN PLACE. All they need is a little help, and the Fed can actually make money out of this program. With interest. How much disdain does Detroit have to endure before they get off and start projecting what their bankruptcy would mean?