Beach Party Bailout! Bailout News for Monday, Jan. 26
Jan 26, 2009 at 10:59 AM

It's a new day, a new trading week, and the never-ending flow of bailout news continues this morning. Everyday is Groundhog's Day at DailyBail and we're stuck in the vortex.

Take a Monday morning stroll through the taxpayer mine field as you see where your money is headed today.

We're in a decidedly snarky mood this morning as you will see in our comments.  So if you are Bill Miller of Legg Mason or Ken Fisher, you might want to skip this one.  The remaining 6 billion of you, feel free to proceed.  And hey, at least we gave you some great comedy this weekend.

As usual, the links are in no particular order of importance.  They're all painful.  Read on.



BAILOUT for SUV buyers     bill introduced by tools chuck schumer and dianne feinstein. this is getting completely out of control. so the rest of us should subsidize fellow taxpayer's SUV buying decisions?  is this a joke?  or IS OUR COUNTRY BECOMING A JOKE?

UK banks were 3 HOURS from complete shutdown in october    MUST READ!

Peter Schiff was right,or was he?        Mish

2 more congressmen cited for trying to help ailing banks wsj no sub required

thain got 1.5 million

commodity trader drunk at work tries to set freight elevator on fire at world trade center #7

6 biggest mistakes on road to financial hell       alan blinder(princeton) NYTimes tip to yves smith

Felix Salmon hearing that Merrill had bad trading losses in Q4 Portfolio

history of california's fiscal debacles...not the first LATimes    thanks yves

Icelandic government is first to be brought down by crisis mail online   and again to yves

Perp walk for 2 PWC auditors involved with Satyam    bloomberg    it's about time some corrupt auditors went to jail.  Now we just need for some bankers, ratings agency tools, and perhaps a few of our elected or appointed officials to spend some time in the slammer.  That might feed the beast for a little while.

Us treasury official aided fraud with indymac he deserves the perp walk abc and Jesse

Fraudie's delinquencies keep heading higher yes, no kidding again raise your hand if you saw all this coming...still shocking that buffoons like bill miller at legg mason were double and triple dipping on fannie and freddie becsue it had worked for him in the past...he has since admitted he did not look very closely at what was happening with these 2...and he is a celebrated money manager...he's a toolbox.

more on that toolbox, bill miller     wsj     slightly older but oh so good!

and even some more on a truly horrible money manager,  bill miller   NYTimes   no.  i have never had any money with miller.  his yacht is named 'bull' something.  bullshit, maybe.  After 20 years in this industry i can tell you that the wall street game is a joke.  and tools like miller are everywhere.  they don't do real research. they don't study the companies they buy for their fundholders.  but they do study carefully which yacht to buy with their management fees.  and the wall street financial media glorify these buffoons all the way along.  want another buffoon name.  ken fisher.  are you kidding me?  this guy is a bad, bull market joke.  read the next 2.

ken fisher guru grades   skip the article and go directly to the chart and read his monthly quote going back into mid 2007.   this guy sleeps in the same toolbox as miller.  how much more wrong, month after month, could one tool be?  just ask kenny.  he can tell you.  pathetic.   never had money with fisher ever.  just trying to help some readers who might fall for the marketing used to keep these tools employed.

and a blog about ken fisher and why he's particularly bad at what he does. 

BAC  KNEW Merrill was in trouble much earlier than disclosed naked capitalism shock, ken lewis lies again...Lewis is the tool shed where the toolbox bill miller resides.

Yves Smith on Obama's regulatory reform announcments naked capitalism and NYTimes

Yves on Ben Stein and guilt.ben stein is an idiot. enough said. naked capitalism

Yves once more because she's that on Summers admitting that the second $350 billion of your kids money will not be enough....ok, time to deal with this one...i said on many blogs during the TARP debate in congress that we would need at least 3 trillion to solve the problem...everyone knows it...why won't these buffoons just tell us the truth...answer because they know the american people would never stand for that kind of number so better to ask for just a little at a's crap.

Calculated Risk on RBS getting a huge loan guarantee from the uk gov't.

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