From "the sky is falling department", I have read that another bailout is
going to be necessary, this one of the public pension funds.  I hope it's
not true, but several respected sources say that it will be the next
bailout and it will be significant.

John Lee


At 10:27 AM 10/6/08 -0400, Brice Yokem wrote:
>On Mon, 6 Oct 2008 09:12:29 -0500, Chuck Ryan <[log in to unmask]>
>wrote:
>
> >While much of the news reports about the 'wooden arrows' have been quite
> >amusing, much of what people are complaining about were not earmarks
> >added to a $700,000,000,000 socialism kickoff bill.
> >
> >Correct me if I am wrong, but:
> >
> >The Senate is not allowed to initiate any type of revenue bill, all such
> >bills must start in the House, so the only way the Senate could pass
> >their own bill, as opposed to waiting for the House to pass one, was to
> >attach it to an existing revenue bill that had come from the House
> >previously. So the whole 'wooden arrow' tax change was actually a
> >correction, to something they messed up in an earlier bill, that was
> >part of an original revenue bill that the House had sent up to the
> >Senate. So the $700,000,000,000 is actually the earmark which should be
> >a record that lasts until at least next week.
> >
> >With that said, I do not believe the $700,000,000,000 is going to do a
> >bit of good and we are all going to pay a much steeper price, for the
> >failed social engineering congress attempted via mortgage quotas, than
> >many expect.
>
>Well, I think this was needed.  I don't like it, but with Wall Street steadily
>declining, something had to be done.  I would have greatly preferred
>Congress to have done their job properly in the first place, but that is
>wishful thinking.
>
> >Comments are my own, not my employer's... etc.
> >
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>
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