Bailin' out the lawyers

Lets buy the line that the TARP and other bailouts had to happen or calamity would have ensued. (A calamity that would have leveled the playing fields a bit. A calamity that would have potentially brought many of the super-rich down to our levels. A calamity that would have voided their inherent superiority and MUST NOT BE.) Ok. So we buy that line. Bad things would happen if we didn't start pouring money from everyone's pocket into a handful of fat cat's pockets.

Having agreed to the necessity of giving rich people access to our co-op (tax pool) funds, we would like to assume that the money is used to make right the wrongs. To fix this problem that leaves us on the verge of a calamity. Instead, like a bum that takes your $5 to buy a bottle of booze instead of the sandwich they said they would buy, the banks are making relatively few changes. Sure, they're making it harder for us to borrow that money we gave them, but they are also sure to honor bond insurance claims on questionable funds that have already been bailed out.

Now they've found a new way to spend our money for us: Lawsuits! Somebody has got to be blamed for the financial meltdown and by God, we're going to use our lawyers to find out who it was. Ambac is suing JP Morgan. MBIA is suing Merrill Lynch. The shareholders at Citi Group ARE SUING THEIR OWN MANAGEMENT TEAM! (Apparently, those who bought into Citi within the last handful of years think they overpaid for their [obviously] worthless stocks and should be reimbursed by someone... Did NO ONE understand the word risk? Don't people know that if you invest in a company on the stock market, there is no guarantee of success? You could lose everything. And if that happens, no one is supposed to come along and give you your lost money back?)

At any rate. A significant portion of our bailout funds is now funding a giant mass of lawyers to sue each other. We'll be paying the prosecutors, defenders, court costs, awards, and settlements with the mountains of bailout funs we've given them to play with.

THIS is whyipaytaxes.