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[Acronym Update] EESA

The impact of the bailout law known as EESA (Emergency Economic Stabilization Act [1]) voted into law by the House on Friday is not known.

I was listening to The Big Money Podcast [2] while I was getting ready for work one more morning recently and heard Dan Gross [3] describe his step by step reaction to the bailout bill as events unfolded:

  1. OMG

  2. LOL

  3. WTF

  4. BS

I burst out laughing and cut myself shaving. When I told Dan it was his all fault, he told me:

oops! Maybe the House of Representatives can slip a provision in the bailout bill appropriating some cash for appraisers in New York to buy band-aids. After all, you’re just another victim of the credit crunch.

And don’t forget about LIBOR [4] and those pesky wooden arrows for children [5].