Pelosi thinks we're stupid -By Kos

[kpete]

Pelosi thinks we're stupid
by kos
Mon Sep 29, 2008 at 07:34:43 AM PDT
Pelosi:

We sent a message to Wall Street - the party is over.

Sure, the party is over. But we weren't invited to the party, yet we're the ones left cleaning up the mess and paying for the house they burned down.

The message? There are no repercussions to your actions. The plebes will bail you out. And somehow, we're supposed to think this is a big victory?

(Via MyDD.)

Update: Two quick notes. Remember the limits on CEO pay? Well, not so much:

Curbs would be placed on the compensation of executives at companies that sell mortgage assets to Treasury. Among them, companies that participate will not be able to deduct the salary they pay to executives above $500,000.

Ooh, they can't write off the salary above half a million! What a limit! And what about golden parachutes?

They also will not be allowed to write new contracts that allow for "golden parachutes" for their top 5 executives if they are fired or the company goes belly up. But the executives' current contracts, which may include golden parachutes, would still stand.

There you go. Our taxpayers will help fund multi-million dollar golden parachutes. Delightful!

And what about oversight?

The Financial Stability Oversight Board would be charged with ensuring the policies implemented protect taxpayers and are in the economic interests of the United States. It will include the Federal Reserve chairman, the Securities and Exchange Commission chairman, the Federal Home Finance Agency director, the Housing and Urban Development secretary and the Treasury secretary.

Yup, the oversight panel will be staffed by the same jokers who brought us this mess -- Bernanke, Paulson, and Cox. Feel better? And since half the money will be disbursed before the Obama Administration takes over, that's $350 billion that will be distributed to Bush's friends before the year is over, further stressing our nation's finances and hamstringing the Obama Administration.

Sure, there's a second oversight board, but by the time they can call foul, it'll be too late

more at:
http://www.dailykos.com/storyonly/2008/9/29/10290/3764/65/614197