Things to spend tax $ on

Slightly to my surprise the Fed’s imminent bail-out of the financial services industry, estimated at $700 billion, is a bigger commitment than the funding of the Iraq War. So far the conflict seems to be running at a touch under $600 billion.

Given the quite proper wailing and gnashing of teeth about the latter this piece of information is quite dazzling and puts into perspective the scale of the spectacular misjudgement made by the market and makes the continued resistance to regulation almost laughable.

1 Comment

Filed under Random thoughts

One response to “Things to spend tax $ on

  1. Tony

    Because you are a Media Maverick, I have to ask you a question. I keep asking, how will this impact Advertising and Sponsor deals?

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