Friday, September 26, 2008

$700 Billion Fizzle?

Who on earth really believes that recipients of a $700 billion federal bail out will turn around to re-lend the money?

That won't happen and you can bank on it. Once burned, twice shy.

The investors who are rescued will do a thousand things with the money before re-investing in real estate or any of a dozen debt channels. They're as likely to take a deep breath and put the dollars into the safest basket they can find, whether that be gold, oil or Chinese water plants.

Speaking of unbelievable: Who put Chris Dodd and Barney Frank back in charge of the chicken coop?

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