corporate welfare

This one gives Rum & Coke Fridays a whole new meaning!

There is a famous blog series on Dailykos, Rum & Coke Friday, but this story makes that look like someone in Congress took the fun to heart!

Bloomberg is reporting Bailout of U.S. Banks Gives British Rum a $2.7 Billion Benefit :

In June 2008, U.S. Virgin Islands Governor John deJongh Jr. agreed to give London-based Diageo Plc billions of dollars in tax incentives to move its production of Captain Morgan rum from one U.S. island -- Puerto Rico -- to another, namely St. Croix.

DeJongh says he had no idea his deal would help make the world’s largest liquor distiller the most unlikely beneficiary of the emergency Troubled Asset Relief Program approved by Congress just four months later.

Your tax dollars at work might just drive a person to drink!

Nationalizing AIG - $85B loan for 80% Stake For Fed

AIG May Get $85 Billion Loan, Cede Control, NYT Says:

American International Group Inc., the biggest U.S. insurer by assets, may get an $85 billion bridge loan from the Federal Reserve and cede an 80 percent stake, the New York Times reported, citing unnamed people briefed on the negotiations

Ok, now this is ridiculous. Can we get single payer health care here? Where is my bailout?

Why is it ok to nationalize private financial institutions yet when it comes to anything that's directly for the middle class, why ...oh my god...that's socialism.

(note the loan amount needed has gone exponentially up in 48 hours. I believe it started out at $20B).