Monday, August 31, 2009

bailout profits? believably stupid

I wish this was more unbelievable, but it's not. Instead, this is just laughably moronic, but I have grown to accept that most forms of general/mainstream/old media have a poor understanding of, well, almost everything. Of course, Ritholtz nails it like always. If I was delusional enough to only count gains and not losses, I'd be broke many times over. And I would have paid more taxes!

Let's make this simple. The US government has not now, and never will 'profit' from the numerous bailouts doled out in the last year-and-a-half. No clever bookkeeping can ever change that. However, we could always have the government file for Chapter 11. That would be a strange loop for the ages.


Anonymous said...

My comment has nothing to do with the stupid government bailout profits.

Have you read this article?


lost said...

Where is the young man who tells things as he sees them? Honest, perceptive, knowledgeable, generous with his insights.

Anonymous said...

27 Sept. 09

It has been 4 weeks since your last entry. Any news?