Saturday, October 4, 2008

Paulson: Instantly Bigger Than Trump

So, now our Congress has approved the mortgage "rescue" plan and Bush has signed it. Where does that leave us? Well, it leaves us with Hank Paulson presiding over the largest conglomeration of junk real estate in the history of the United States. No offense, but, I think that's like giving the keys to the Bellagio Resort, here in Las Vegas, to the janitor. Except that the Bellagio is actually worth something.

Granted, Hank Paulson is a bright guy with a noted background in Wall Street operations; but, he ain't no Donald. The Trump, that is! Somehow, George Bush and our Congress thinks that this whole mess might even be profitable for our government. Right! In your dreams. When is the last time the Feds made money on anything? This is the same government that buys $10,000 toilet seats and can't seem to keep track of our nukes or even trailers in New Orleans after Katrina. Now, we expect them to keep tabs on a few million homes across this country?

Personally, if we really wanted to make money off this whole mess, we should have handed all these distressed properties over to Donald Trump. Then promised him a 30 percent cut on any profits. I guarantee you that we would easily get all our money back and then some. And, my guess is that it would have been done quickly. Instead, I'll bet that we will still be trying to sell a trashed, 2-bedroom bungalow in Somewhere U.S.A. until the year 2030; along with a few hundred thousand other pieces of worthless junk.

Lastly. In every joke there is a certain amount of truth in order for that joke to hit home and be funny. The fact that this "rescue bill" start out as being only 3 pages long and finally wound up being over 400 pages at the end, reminds me of a very old joke. The joke goes like this. "If you asked Congress to design a mouse, what would it look like and what would you call it? The answer is one word: An elephant!"

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