Tuesday, September 16, 2008

Hope Is Where You Find It

O Weary Masses of the World, lift up your eyes and dare to hope! Look to America, the indispensable nation, the last best hope of mankind, the shining city on a hill! Open your eyes, and see your salvation approach!

The Empire may have maxed out its last credit card. The zero-percent-introductory-rate balance transfer game may just about be finished. Can't buy no bombs if you don't got no money, nohow.

As we paddle our canoe gently downriver, I'm thinking maybe I hear a soft-in-the-distance rumbling, roaring sound ahead:
The Federal Reserve said that it would make it easier for companies to access the central bank's cash by accepting a wider range of assets, including equities, as collateral for direct loans to investment banks.

The Fed, which is due to meet tomorrow to decide interest rates, also raised the size of the pool of available loans to $200 billion and suspended rules that prevent banks from using deposits to fund their investment banking businesses.
Hmmmm, that couldn't be a big waterfall up ahead, could it? Naaaaw, it must not be a waterfall. That would be bad.

1 comment:

lemming said...

Why worry about the waterfall? The government will find a way to rescue us. Well, no, they won't rescue us, they'll save the executives, but that's what's important, right?

GWB never held a job that didn't result in bankrupting the company, and this nation is no exception.