Saturday, October 04, 2008
We're Gonna Profit!!!
"To protect the taxpayers, we insisted on tough oversight and accountability. To further protect the taxpayers, we wanted to make sure that as we bought this illiquid paper that Mr. Paulson was talking about, and as we invested capital into these companies that we are helping to make healthy, that the American taxpayer would profit."
This wasn't a SNL skit or a ScrappleFace parody. Nancy Pelosi actually said that!
I won't be holding my breath waiting for a dividend check.
Note also her verbiage *this illiquid paper that Mr. Paulson was talking about*.
Clearly, she hasn't a clue what a CDO, RMBS, or HELOC is. Who better than her to be in charge of buying $800 billion worth of them?!?!?!
What a thundering Moron. God help us.