Letter from the Ministry of the Treasury of the Republic of America

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude. I am Minister of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Minister of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transaction is 100% safe. This is a matter of great urgency. We need blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance.
My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred. Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson

Source: Kostis Velonis

The Market As A False God

A snippet from a 1999 Atlantic piece by Harvey Cox on economic theology:

In days of old, seers entered a trance state and then informed anxious seekers what kind of mood the gods were in, and whether this was an auspicious time to begin a journey, get married, or start a war. The prophets of Israel repaired to the desert and then returned to announce whether Yahweh was feeling benevolent or wrathful. Today The Market’s fickle will is clarified by daily reports from Wall Street and other sensory organs of finance. Thus we can learn on a day-to-day basis that The Market is “apprehensive,” “relieved,” “nervous,” or even at times “jubilant.” On the basis of this revelation awed adepts make critical decisions about whether to buy or sell. Like one of the devouring gods of old, The Market – aptly embodied in a bull or a bear – must be fed and kept happy under all circumstances. True, at times its appetite may seem excessive – a $35 billion bailout here, a $50 billion one there – but the alternative to assuaging its hunger is too terrible to contemplate.

Source: Andrew Sullivan’s blog via The Media Channel