You’ve got the Statt Mann baby. Time to Scatt a little bit.
Help me understand how:
Congress can catch a bailout on Monday, say it’s too big, and throw it back.
Lost in the wake: one-point-two TRILLION Wall Street dollars including heavy hits to retirement funds held by fat cats like YOU and ME!
So, during the week, Congress adds another two hundred billion dollars to the bill including tax breaks for people who want to build or remodel race tracks.
Then, with those additions, Congress returns Friday, says the bill’s now big enough and approves it.
There’s still no guarantee that the financial institutions being bailed out won’t send more call center jobs to India and the Philippines. No guarantee that those lost jobs won’t add to the growing unemployment and war on the middle class. No guarantee that those lost jobs won’t mean fewer people to sit in the seats of those new racetracks or buy the new cars planned by the car makers who were also bailed out this week in a 25 billion dollar helping hand paid for by us fat cats.
By the way, those are the same car makers who will take some of their bail out money and continue financing race teams who will run in front of more empty seats – or lower TV ratings – because the transfer of wealth will keep fans like you and me… you know, the fat cats… from affording a race.
So everyone in racing gets a raise but the fat cat fans. Think about that the next time a driver pauses before getting into his new chopper or personal jet – or a team owner buys a new winery – then talks glowingly about racing as entertainment and how they do it just for “our great fans” who can’t afford to watch anymore.
Excuse me. Must be the bank looking for a mortgage payment. Think they’ll buy it’s in the bail out? Or at the race track?