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Rachel Maddow explains the Wall Street bailout

With a handy metaphor...

She is awesome.

(Transcripts aren't online yet -- I'll update with a link to the transcript tomorrow, after it's posted. Apologies for the delay!)

via Rachel.

Posted by Ann - September 23, 2008, at 12:04PM | in Financial Matters , Television

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6 Comments

I'm so honored you read my blog. :D

And we never even got to eat the candy! Now that we are buying $700 billion more, I suspect we won't be eating candy again for a very long time.
Fantastic metaphor...thank you for posting, feministing!

Wow, this all seems so shady. Like she said, the last time the country rushed through its legislation and trusted the GOP to keep its promises, we got fucked (well, she didn't say it exactly like that).

Wow, this all seems so shady. Like she said, the last time the country rushed through its legislation and trusted the GOP to keep its promises, we got fucked (well, she didn't say it exactly like that).

God I love her show. This is the first time I've ever set my DVR to record a news show (except for Stewart and Colbert, of course).

[0+|0-] Author Profile Page AliCat said:

I like the reference to the "double dipping" that the players on Wall Street may receive as a result of this proposal, ie they get bailed out using tax-payers' money and then the same people get hired as consultants to repair the damage!!!!! Hence, any restructuring that takes place is likely to reflect the interests of the same people who have been running Wall Street all along. Basically, it is the American taxpayer who will be paying for the mistakes of these already extremely wealthy people. As nakedanarchists has stated, the taxpayer will be buying the replacement candy, but won't be getting to eat any of it. The same people will be eating the candy regardless. This is a prime example of how allowing the market to regulate itself with minimal government intervention and regulation is a recipe for disaster. These people have been allowed to act in ways to maximize their own personal wealth, and that of the institutions they work for or own, while exposing themselves and the American economy to enormous risk. The real irony is that they have taken advantage of the minimal government regulation which has existed, resulting in them becoming victims of their own greed, and then expect government to bail them out...

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