If the PPIP passes in its current form, my wife and I are pulling the rip cord, liquidating all our assets and leaving the country post-haste. 
Well, it did.
The US government has and will have an implicit and often explicit ongoing liability to guarantee US banks against runs, so just live with it.
God’s in his Heaven – All’s right with the world! Right? Well old Bob knew corruption. He knew that in times like these the worst stuff would be happening behind the topiary in the best homes in places like The Hamptons. Among the nicest looking people there with the best clothes, too. He must be spinning in his grave now that the updated Rule 157 is deprecating Mrs Bob’s efforts at sonnet translation and the Dept. of Labor has revoked all H-1Bs from Sesame Street characters beginning with the letter "C." Guess there’s some things FASB just doesn’t want auditors doing in the present crisis.
Igor sent along this image to cheer us up. It’s titled "Cruisin’ the B.A.R." and it evokes those innocent times during our previous big downturn when the bad guys (and gals!) were generally to be found outside the banks. They tended to wear cooler hats, too 😉
It’s time for Doom’s weekly open thread, so feel free to TARP anything, since after all the Fed and Treasury do. Last time D____ and I were in Robin’s Donuts they were practically out of pastries. I selected a large square one with what looked like currants and Marcella behind the counter sold it to me for 1/2 off. "That was my Last Dutchie!" she remarked. "A pleasant surprise, though I’ve got a bad feeling about this," said D____, but I wasn’t really listening. Once we’d found a table, we resumed our earlier conversation about fair value and the dangers of price discovery. I took my first bite and the thing was unbelievably stale, so I absentmindedly dunked a corner into my coffee. D_____ was in full flight, but after taking my next nibble I suddenly interrupted him, "Holy ^$#@#! I just had my broker put last year’s RRSP  money into AFF-TSE!!" D____ scrambled for his PDA and, sure enough, it was already down over 14 percent in after-hours trading … and now I have only myself to blame 🙁
Extra points for guessing the above Jeopardy! catagory, or to any Victorian sessional who reports passing Lady Grey back out through their nose …
——————————-: (comment to) "Open Letter To The FDIC Ombudsman", by "yourapostacy", TickerForum, March 24, 2009. : "PPIP Is RIP: What a Dead Cat Can’t See, A Dead Cat Don’t Know", by Andrew Butter, Seeking Alpha, April 5, 2009. : Canadian equivalent (roughly) to a 401(k).