Like clockwork, the US Treasury is feeding the pigs at the trough and there’s quite a frenzy. The AP is reporting:

WASHINGTON (AP) — First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.

Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.

Bonuses?  Dividends? Raises?   What does this have to do with the financial bailout?  Oh, it’s just another fleecing of the the taxpayer as usual and it’s only going to get worse as the pigs turn to hogs.    I knew this bailout wasn’t going to work and you and expect the markets to tank hard over the next couple of weeks….

I love this quote, “Bank executives hinted they might instead use it for acquisitions. Sen. Christopher Dodd, chairman of the Senate banking committee, said this development was “beyond troubling.”

And the band plays on……