After the bailout

Now that US Congress has finally passed the US$700 billion bailout, doubts have started to surface about exactly who (or what) will be bailed out --- US economy or the common man or the big business or only some cronies of the present rulers! Already there were criticisms that these measures would be helping only the big business. But now it seems that even among the big business only a select few will be receiving the goodies!

Mr. Paulson, US Tresury Secretary, and his fellow Treasury officials will not be implementing this bailout package on their own. Instead they would be outsourcing nearly all of the work to professionals, who will oversee this work for a management fee. Here comes the catch - Mr.Paulson - who was earlier CEO of Goldman Sachs, the investment bank - has already recruited several of his former colleagues as advisers. The other professionals being recruited by the Treasury also would be from US investment banks only. In other words, the wall street investment bankers, who had originally created the mess, are now being handed over tax payers money to manage the same mess!!

Bush and Paulson can now leave office without worries - they have bailed out their close friends and clients! At least their retirement plans are working!!!