BY WC WINDBAG

Just as Congress reaches agreement on the “Crap Sandwich”, known better as the targeted Stimulus Plan Porkulus, word reaches Wall Street on The One’s newest, bestest idea evah… the $2,000,000,000,000 Bank Rescue.  A predictable result, panic sets in:

Share prices on Wall Street tumbled last night following mounting concerns about Barack Obama’s planned economic rescue package.

As Treasury Secretary Timothy Geithner unveiled a plan that aimed at getting up to $2trillion (£1.38trillion) flowing through the country’s moribund financial system, the Dow Jones fell almost 5 per cent.

Markets in Asia and Europe quickly followed suit today.

Hmmmm… Can’t see why.  Doing “something” in the form of excessive government spending has worked so well in the past. 

Plus, it is clear that when Democrats open the purse strings, only good things can happen, right? (emphasis mine):

Senator Harry Reid, the Senate majority leader and a Democrat, said that a compromise bill had been agreed after talks between the two sides of Congress over an $819 billion House of Representatives version and a $838 billion Senate version.

“The middle ground we’ve reached creates more jobs than the original Senate bill and costs less than the original House bill,” he said. Mr Obama could sign the bill, which still has to be voted on by both houses, as early as Thursday.

During the talks, the size of tax cuts was reduced and education spending increased. Nancy Pelosi, the speaker of the House of Representatives was still holding out for additional changes before ratifying the deal on Wednesday evening.

Er… Now that is the change we’ve been hoping to look for or be… uh… (groan).  Oink.

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