Word: cowing
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...taxpayer money to the mob that gave us Alt-A mortgages, collateralized debt obligations (CDOs) and credit-default swaps, the House voted down the big bailout. Mr. Market was a very unhappy camper, dropping 777 points and change - or $1.2 trillion in market value. "This is a huge cow patty with a piece of marshmallow stuck in the middle of it, and I am not going to eat that cow patty," vowed Representative Paul Broun, Republican of Georgia...
There's just one problem, Congressman Cow Patty: A lot of us did eat it, including many of your constituents. The $1.2 trillion - let's spell that out as $1,200,000,000,000 - that disappeared from the stock market on Monday didn't go down a black hole in lower Manhattan. It came out of America's 401(k)s, mutual funds, pension funds and personal portfolios. We've got $17.6 trillion in retirement assets invested as of 2007. There is some $12 trillion invested in mutual funds alone (well, at least before yesterday); about...
...taxpayer money won't be used "to give a golden parachute to Wall Street that our grandchildren may still be paying for many decades from now." But Wall Street is all of us, including the Congressman from the 10th District in Georgia. We are all going to eat the cow patty. The only question is, how big will...
Before China's dairy industry imploded in a swirl of tainted products, milk was a cash cow. Investors flocked to buy stock from leading dairies Mengniu, Yili and Bright as a way to tap into the growing purchasing power of Chinese consumers and the country's rising dairy exports, which totaled $232 million last year. In rural China, poor farmers scrimped to buy cattle to boost their incomes, becoming part of the food chain serving the Chinese middle class's new taste for milk, butter and cheese...
...Then there's manure - all that animal waste generates nitrous oxide, a greenhouse gas that has 296 times the warming effect of CO2. And of course, there is cow flatulence: as cattle digest grass or grain, they produce methane gas, of which they expel up to 200 L a day. Given that there are 100 million cattle in the U.S. alone, and that methane has 23 times the warming impact of CO2, the gas adds...