Instead of the Troubled Asset Relief Program, we should establish the Throw Rocks At Politicians foundation for their great idea of giving the Treasury $700 billion and not establishing some kind of guidelines on how it must be used.  Previously, I stated that if this program must exist, then Secretary Hank “The Bank” Paulson does [...]

No this is not the same as TARP.  This is a new plan, that including other programs in place amounts to trillions.  Even Dr. Evil can’t fathom trillions.

The total package won’t be fully understood until it’s all over.  Most of the trillions right now are committed, but have not been spent.  The huge amount of [...]

Let’s get this out of the way first, the automakers still do not deserve a bailout.
Citi has been in some deep doo-doo ever since they lost the heart of Princess Wachovia to the noble Knights of Wells Fargo 6 weeks ago. They’ve always been that bank that you’ve heard of but you don’t know [...]

President Barack:
I hear you are hiring
Don’t pick insiders

Paulson 2 months ago:
We need $700 billion to buy the bad mortgages straight from the banks.
Paulson 1 month ago:
Ummm, instead of doing that thing I said above, we’re going to just buy portions of these banks.  The banks in turn will use the new money to fix the loans and do new loans.
Paulson Yesterday:
Sup guys. [...]

American Express, often referred to as Amex, has decided it will become a commercial bank. Like Morgan Stanley and Goldman Sachs before it, Amex has determined it is better off under the more regulated role of a bank holding company. With it comes the good and the bad.
The good:
The Fed will loan you [...]

Ford’s losing money like John McCain lost electoral votes.  GM burns cash like it’s crack going bad.  Chrysler has some cash, but they can’t sell any cars because they don’t make any good ones.  These companies have been money pits for the passed decade.  So what is the solution?  Run to Congress for a bailout [...]

On holidays The Weakonomist likes to post something that has nothing to do with finance.

We celebrate Veteran’s Day on November 11th because it marks the day that World War I officially ended.  Veteran’s Day is meant to honor the deceased from war, deceased of war survivors, and currently living veterans of war.  I make this [...]