I’ll Have 18 Bacon Double Cheeseburgers… And A Diet Coke.

October 31st, 2008at 09:50pm Posted by Eli

This tells you all you need to know about Dubya’s priorities:

The White House and Treasury Secretary Henry Paulson are seeking to scale back a proposal by Federal Deposit Insurance Corp. Chairman Sheila Bair to guarantee mortgages to help stem foreclosures, according to two congressional aides briefed on the matter.

The Bush administration is reluctant to sign off on the plan because of its cost, the two people indicated. Bair’s idea to provide guarantees for modified loans could take as much as $50 billion from the $700 billion bailout package approved by Congress this month.

So $700 billion to bail out financial corporations is an OMG-must-have, but $50 billion to bail out homeowners is just too much.  “Oh gee, sorry son, I can’t get you new clothes this year, I just spent $250,000 on a sports car.  I have to be fiscally responsible, you see.  When you’re older, you’ll understand.”

(h/t Stoller)

Entry Filed under: Bush,Economy,Politics,Republicans,Wankers


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