Here's a joke for you: two bald dudes walk into a Congressional hearing room and testify that a multi-billion dollar mess is working.
That's it. There's no clever punchline.
That's what Ben Bernanke and Henry "Hank" Paulson are doing today. They're sitting in front of members of Congress and lying through their teeth. Either that or they're delusional. I can't tell yet.
Meanwhile, the Big 3 and their entourage are in D.C. today for hearings on their measly $25 billion bailout request. People ask whether the auto bailout will work, and skepticism is more than healthy given the failings of our last bailout. I guess for this commentator, the differences are enough to give it a go. The CEOs are placing their mea culpa at the feet of a very angry and actionable Congress, though, so who knows what the outcome will be?
What I do know is this: there are American families hurting and they'd like to be next in line for this government cheese.