Seems that some bailout money...

[coprolalia]

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... is now going to support a failing retail clothing chain. From a local newspaper...

Rendell promises $35M to help Boscov's
ASSOCIATED PRESS
HARRISBURG - Gov. Ed Rendell says the state has secured $35 million in federal loans to help regional department store chain Boscov's exit bankruptcy.

Rendell said today that the loans will be financed through a program that allows governments to guarantee loans for economic development with federal community development block grants.


Reading-based Boscov's filed for Chapter 11 protection in August and announced that it would close 10 of its 49 stores.


Rendell says Boscov's won't have access to the federal loans if it can't obtain bridge loans that are part of more than $300 million in financing that the chain will need to exit bankruptcy.


Boscov's is in the midst of court hearings in Delaware on its bankruptcy sale to two former executives. The next hearing is scheduled for tomorrow.

http://www.philly.com/philly/hp/news_update/20081120_Rendell_promises__35M_to_help_Boscovs.html

This literally makes me sick. Violently and uncontrollably ill. When will it end? Why should the government be involved in securing money for a failing department store? It used to be that you go into business "at your own risk". Guess those days are over.

What the vested interest in the people of the Commonwealth of Pennsylvania happens to be is beyond me. I'm happy to listen if someone wants to explain it to me

-copro

 

[ecCA1]

Right now we're in a socialistic phase. It's happened before, and it will happen again.
Ideas like 'spread the wealth around' are popular because such phrases as 'the masses are asses' are true.

 

[Bertelman]

Anyone gonna save Linens n Things?

 

[badasshairday]

So when are they going to bail out medicare?

 

[Lonestar]

our family is in the travel industry business. we would like a bailout too. Can yall please help a brotha out.

 

[RabbMD]

When 40+% of the population pays no income taxes whatsoever you get this crap. Once the $1000 checks go out I bet over 50% of the coutry pays 0% income tax. Then its over. Even in Sweden most people pay income taxes of some sort, even if the top brackets pay a lot more.