Bailout-mania continues: Billions and trillions! 

Bloomberg's David Reilly provides hysterical commentary on the financial reform bill:

If you’re a banker, the bill is tastier. While banks opposed the legislation, they should cheer for its passage by the full Congress in the New Year: There are huge giveaways insuring the government will again rescue banks and Wall Street if the need arises... It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk.

And GMAC is getting another $3.5 billion in federal aid, The Wall Street Journal reports.

Merry Christmas -- but you're still Santa Claus, dear taxpayer.

About The Author

David Freddoso

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David Freddoso came to the Washington Examiner in June 2009, after serving for nearly two years as a Capitol Hill-based staff reporter for National Review Online. Before writing his New York Times bestselling book, The Case Against Barack Obama, he spent three years assisting Robert Novak, the legendary Washington... more
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