Saturday, October 04, 2008

S.L.I.M.E. revisited

Just as guest poster Rebecca said back on September 20: the "bailout" is the "the Successful Looting and Investment Manager Employment Act -- S.L.I.M.E."

Now that it has been signed into law, Bloomberg reports:

Oct. 3 (Bloomberg) -- Treasury Secretary Henry Paulson is hiring as many as 10 asset-management firms to join the lawyers and bankers he is recruiting to jumpstart the government's new $700 billion bank-rescue program.

Full employment for financial managers ahead...

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