Merry Christmas! Happy Holidays!
Thanks to George W. Bush, this Christmas will be another special one for the top executives in the financial world.
Naturally, when the $700 billion bailout was approved by Congress, taxpayers were relieved that “golden parachutes” would not be issued with taxpayer money.
The Raw Story tells of how Bush saved Christmas by the power of a single sentence…
The change stipulated that the sanction would only apply to firms that sold mortgage backed securities to the government at auction, which the Bush Treasury Department said would be the method they’d use to infuse troubled companies with bailout cash.
But to date, the Bush administration hasn’t used auctions to buy up those mortgage backed securities, and doesn’t plan to use auctions in the future.
Whew! That was close! Now those top execs can afford to buy those personalized life-sized Lego figures or buy that spendy Christmas gift basket for Mom.
Gosh, I kind of wonder now if Bush EVER intended to buy mortgage securities via auction….
Happy Holidays, ya gosh darned “haves” and “have mores!”
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TheZoo 
I’d like to see these folks get something that starts with a “b” but not a bailout! http://www.geezergator.wordpress.com