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Terrorism and the Bailouts

On September 10, 2001, Donald Rumsfeld appeared before Congress with some shocking news:[Military] auditors admit the military cannot account for 25 percent of what it spends."According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.In a world before the Bailouts, $2.3 trillion was real money.  On September 11, 2001...We all know what happened.  Among other things, people stopped asking about that $2.3 trillion.On December 24, 2009, it was reported that the United States Government guaranteed all of Fannie Mae and Freddie Mac's debt.  That is a several-trillion-dollar liability.  Meanwhile, the same Fannie and Freddie will give multi-million-dollar bonuses to its executives.On December 25, 2009, some Nigerian lit his pants on fire...continue to full post

Full post as published by Crime & Federalism on December 29, 2009 (boomark / email).