Monday, November 17, 2008

While sitting in the waiting room at the hospital I watched a news report on Fox News that Philadelphia is getting in line to suckle at the government teat. Citing falling tax revenue, many cities are looking for new sources of income. Banks and the auto industry have pointed the way. Meanwhile, credit card companies asked the Fed for permission to forgive 40% of their bad debt. The answer was no. Not enough CEOs on the list of bad debtors, apparently. Still no bail out for the common man, even though he is footing the bill to bailout all these corporations.