Friday, October 3, 2008

TODAY in Bank Failures: What you can do NOW

Turns out Wachovia is going to be bought by Wells Fargo--lock, stock and barrel, rather than piecemeal by Citigroup--without government support. Citigroup is miffed.


The rescue (formerly known as BAILOUT) has now passed both chambers of Congress, after having morphed from a three page, all spending power for the $700 billion to the Treasury Secretary, to a 451 page bill of $850 billion, festooned with earmarks, pork, sweeteners for the likes of Nascar drivers and filmmakers--and $192 million for rum! The 58 members of the House who changed their votes said it was because their constituents changed their mind (it had nothing to do with the sweeteners!)

All the machinations make my head hurt, and then I remember a previous musing where I said we're screwed either way. Bailout/rescue or not, there's plenty pain coming. Senator Sanders lists what the bill does not address.

So, I escape (in moderation, of course). Feel free to follow my lead:

5. Play game after game of Scrabble Blast! Try to reach PRO level.
4. Go outside--without an electronic device. Get those bulbs in the ground before it's too late. And plant some vegetables while you're at it. Thanks to global warming, there's likely time for another harvest!
3. Watch CBS Evening News for comic relief.
2. Take this job and LOVE IT! 159,000 people lost their jobs last month; thank God, your lucky stars or whatever you choose that you're not among them.
1. Buy a cash box; keep money at hand.

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