That stands for “bend over, here it comes again.”
The candy sprinkles that the Senate covered the shit sandwich of the “bailout bill” with had the desired effect, and the House just passed it, 264-171. So now, instead of meaningful reform of the Community Reinvestment Act, reasonable regulation of the mortgage and credit markets, and a free-market solution that doesn’t screw over the American taxpayer, you and I (assuming you pay taxes) are now on the hook for up to $700 billion so Wall Street can escape the consequences of its own drunken orgy, and “community organizers” can continue to push for loans to un-creditworthy applicants. And Barney Frank (D-Fannie Mae), Chris Dodd (D-Freddie Mac), and the rest of the politicians that empowered this entire crisis can slap each other on the back and preen before the cameras, knowing that they will not be called out by a compliant media for their role in this disaster.
Wall Street, having got pretty much what it wanted, responded by sending the Dow down 250 points in 30 minutes. Somehow, I’m not surprised.
UPDATE: If you’re interested to see how your Congresscritter may have voted, you can mash here. By party, the results: Democratic 172-63, Republican 91-108. Nancy Pelosi and the Pelosi Posse have already gone before the cameras claiming credit for passing the bill. Of course, if the economy tanks anyway, they will immediately turn around and blame the Bush administration for passing this horrible attempt at economic stabilization…and the media will dutifully report it.