The House has passed the economic bailout bill 263 to 171

When we buy up this toxic paper, we're in charge. We can do the kind of loan modifications we've been urging [the industry coalition]...

Here's a clip of Maxine:

http://www.youtube.com/watch?v=KN6s1KVFBNg

...she is making a threat to nationalize the oil industry, but flubs the word. The reporters basically laugh at her, and compare her to Hugo Chavez. Guess what? The imbecile wasn't that far off...

We have no real conception of how screwed we are, but we know one thing: The credit market is now fully subject to political constraints. To what degree is hard to say. But congress has already been forcing banks to give loans to unqualified people (a big part of the original problem) and so the same practice will likely continue. Except, banks know full well that every bad loan can be sold to the taxpayer at full price.

An unbelievable coup.

Torch: $15

Freedom: Priceless

P.S. This is a joke...