Risk Rap

Rapping About a World at Risk

Fund for Asset Remediation of Toxicity (FART)

Pepe Le Pew

Hank Paulson, the Senate and Congress are taking earnest steps to hammer out an agreement to create a super fund to acquire toxic bank assets, package them up, securitize the assets and release them in global secondary markets.

The program, Fund for Asset Remediation of Toxicity (FART) is requesting $700 billion dollar capital infusion from taxpayers. Paulson and leading members of the legislative branch of government are pumped to get a deal done and leading democrats are smelling sweet success of pushing this major legislative action through.

Though bipartisan support is strong some republicans are getting a whiff of potential problems in the plan. Tennessee Senator Jim Bunning, says the deal stinks and he won’t support socialists and communists running the Treasury Department. Says Bunning, “We won the cold war. We beat them. Why are they imposing their stuff on us. This reeks to high heaven.”

As part of the deal a special entitlement rider was added to the bill. All banks who participate in the FART program will be required to provide odor eaters to all new loan applicants to make sure that they are comfortable with the terms and conditions of the loan agreement.

Sarah Palin thinks she smells a rat. She said she’s oiling up her 22 and will shot on sight any rat or any rascally critters that will skunk the deal.

McCain and Obama were unavailable for comment at press time.

Music: Loudon Wainwright 3rd, Dead Skunk in the Middle of the Road

Risk: Taking things to seriously

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September 22, 2008 - Posted by | EESA, Paulson, politics, pop, TARP | , , , , , , ,

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