It failed in the House on Monday so today the Senate plans to try and rescue the $700 billion dollar bailout. Why don’t you try and rescue Scott Baio’s career while you are at it – it just isn’t gonna happen.
The bailout is getting messier by the minute. The Senate thinks by throwing in a few “sweeteners” the Republicans and Democrats who were against the plan will now throw all in.
So what $@&! is getting thrown in?
Increase the FDIC insurance cap from $100,000 to $250,000. Forgive me if I don’t bother scouring documents to verify this…but I am going to guess that most people don’t have $10,000 cash in the bank let alone over the current $100,000 FDIC insurance level. So who would that help…wait a minute…maybe some fat cat lobbyists or political officials worried about the economy?!
Additionally in the “sweeteners” is relief from the Alternative Minimum Tax and Renewable Energy Incentives.
Here is my favorite part…
Also included? The “Mental Health Parity” provision, which would require health insurance companies to cover mental illness. Yea, I guess some high level executives are a little depressed right now.
The vote won’t happen until “Sundown” in observance of Rash Hashanah – I have to say, I hope this is the second knockout of the week. It needs to be done right…and without all this other crud thrown in.
Update: Well, it passed. Want to see it before it goes back to the House? And you have got to check out the “Pork Additives!”
Fine, I suppose this is where you look for some witty insights to my mind. A "bio" of sorts. Here is the deal... I ride motorcycles, smoke cigars, golf, kayak, fly, race my car through the mountains, write (a lot), and travel extensively. I am almost old enough not to care what other people think about me...almost. ~Godfadr
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