Bailouts, bailouts, bailouts. The fallout continues…

GM to close its U.S. plants for the summer. I’m so glad my tax money from last fall went to such good use.

Ditto the financial geniuses at Morgan Stanley.

This is a laugh… John Kerry wants to rescue the nation’s troubled newspapers – like his Boston Globe – for the sake of diversity:

“America’s newspapers are struggling to survive, and while there will be serious consequences in terms of the lives and financial security of the employees involved, including hundreds at the Globe, there will also be serious consequences for our democracy where diversity of opinion and strong debate are paramount,” Mr. Kerry said.

Only a Massachusetts senator could utter such words with a straight face. The Boston Globe has stood for a lot of things over the years, but “diversity of opinion” and “strong debate” are hardly one (or two) of them.

Freddie Mac’s CFO commits suicide. I’m no conspiracy theorist, but it sure makes you wonder what he saw coming down the line.

Is TARP nothing more than a criminal enterprise in disguise? It is when your Treasury Department hasn’t got a clue as to where or how money we don’t even have is being spent, or even how much is even left in the kitty. Larry Kudlow – as sharp an observer of all things finance as anyone – believes as much (my boldings):

Listen to this: [U.S. Special Inspector General Neil] Barofsky’s investigators reported Monday that they have opened 20 criminal probes into possible securities fraud, tax-law violations, insider-trading, and mortgage-modification fraud related to TARP. Yup, those are criminal probes. Barofsky is the special IG overseeing the bailout program. And for some reason the mainstream media refuses to report this on the front pages where it belongs.

I guarantee if this were a Republican administration this would be splashed all over the mainstream dino-media and 24-hour cable channels. But since we have the first African-American president in the White House and he’s a genius and “The One” who has come to Washington to cure every ill that was ever wrong with America (if only those racist homophobe conservatives and Republicans would just step aside and let him do his thing), you’ll never hear a thing about it. The Obama suck-ups in the media would rather focus on truly critical issues – you know, like waterboarding terrorists and Meghan McCain’s attempt to remake the Republican party in her own image.

Sigh. Maybe it’s just me, but I just get the sense that a lot of things are unraveling before our very eyes. Makes me so glad we have an experienced and sure-handed defender of America and its values in charge of the ship.