Long on NRO

Greetings, loyal minions. Your Maximum Leader likes Rob Long’s writings in National Review and NRO very much. That guy is funny. Did you catch his piece today?

Super Size that Rescue.

Great piece from opening:

McDonald’s, as you know, maintained a complex and highly-leveraged commodity futures operation, and recent events in the financial markets have made our risk-management strategies impossible to maintain. All along, as we faced a softening demand for our products and in the wake of our increased exposure to losses in the commodity derivatives market of beef futures, hog swaps, egg instruments, bun swaptions, potato debt flotations, and partially-hydrogenated vegetable oil puts, it was our intention to reach some productive and effective understanding with our creditors and our business partners. Unfortunately, due to market conditions, that was not to be.

Effective close of business today, the McDonald’s Corporation is a wholly owned subsidiary of the Federal Department of Agriculture. They wisely — and quickly — stepped in to provide management with a credit facility, in exchange for ownership of the company. If you’ve seen the recent news about what the Treasury Department has done for AIG, the troubled insurance giant, you’ll understand what happened here. It’s basically the same, but with fries.

Read the whole thing. It is good.

Carry on.

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