With the economy in the tank, Santa’s gift bag has got to be feeling pretty empty. Meanwhile President-elect Obama is promising bail-outs, stimulus plans and infrastructure projects. Santa’s got to be wondering if he’s being outsourced to the Democrats!
?Actual transcript of an instant message exchange between two Standard & Poor’s officials from April of 2007:
Official #1: Btw that deal is ridiculous.
Official #2: I know right…model def does not capture half the risk.
Official #1: We should not be rating it.
Official #2: We rate every deal. It could be structured by cows and we would rate it.
At least now we know where the opening and closing bells come from.
With a tip of the TOONrefugee cap to?Peter Steiner.
The American auto industry was already off-roading it before the economic downturn and the latest bad news is a just another sign that the wheels might be coming off:
- Outlook poor for Ford, GM cash reserves
- GM-Chrysler: Stuck in neutral
- Investor Sheds a Major Stake in Ford
- AND Ford was down 3.23% and GM was down 5.35% today.
Unfortunately, it looks like they’re taking us along for the ride!
Neo Nero-Conservative Republican members of Congress fiddle while the economy burns. They were late to the table, didn’t really have a plan, defied their president and leadership and then blamed it on big, bad Nancy Pelosi for talking mean to them. Their sad song sounds a little out of tune to me.