Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Saturday, December 08, 2007

Why Bush's Mortgage Bailout Is a Trap for Suckers

The excellent Mish Shedlock explains why this should be called the "Lender Bailout Plan."

But no one was expecting anything else, were they? It's a mortgage bailout plan put forward by the Bush administration. And time after time, they have consistently shown that A) they will always line the pockets of their fatcat friends to the detriment of everyone else and B) they can't walk down the hallway without tripping over the wallpaper.

Mish has more HERE.

On the other hand, this bailout could give us a solid Christmas rally, and since the government is implicitly promising lower interest rates, that should drive the dollar lower and gold, silver and oil higher.


Check out my new gold and energy blog at