Bank of America Bailout: Billions for Tribute (or Socialism); Not One Cent for Principle

Yes, the bailouts just never end. In the immortal, tangled words of President Bush (I would be ashamed of myself if I got this quote exactly right, but the essence is right): "I had to betray my free market principles to save them." That is the new mantra of the Republican Party (mangling a famous quote of the time when there were real American patriots building a dream): "Billions for tribute (or socialism);; not one cent for principle". So Bank of America (yesterday's story) is getting another 20 billion dollars in bailout money. If you are one of those favored by the Larry Kudlow Communists on Wall Street (that is, essentailly all of Wall Street), you have a blank check. The Feds, of course, induced Bank of America to become bigger by taking over both Countrywide Mortgage (which did not cause Paulson and Bernanke to take effective action, even with months--a year or more--or warning as the housing/mortgage market began to see the bubble bursting) and Merrill Lynch. This was central planning at its worst. Now Bank of America is in trouble (despite however many billions of help the Feds probably gave to "grease" those previous, stupid transactions). As Rush Limbaugh says, we are now living in a sitcom/black comedy. It is all just too ridiculous to be a tragedy. It is closer to farce, even if the end result is tragic. Remember when it was a mainstream media/leftist Democrat (the sanctimonious hypocrites!!!) "scandal" when the Bush budget went over three trillioin? Well, don't bet against the deficit going over 3 trillion (2 trillion is guaranteed)--in a single year. Remember all of those mainstream media stories about how the total national debt rose so much in the Bush years? Will we see those stories as the debt mounts during the Obama years? Don't hold your breath (except if the story blames Bush and the Republicans--the undeniable complicity of whom is one of the reasons that the Republican Party is now DEAD).