Phrase of the Moment: “Mother of All Bailouts”

Sometime in the past week, a new phrase entered the American vernacular. It’s “mother of all buyouts,” or MOAB, for short.

I did a little research on the Internet to see who started the ball rolling. It’s hard to tell because this description has shown up in so many blog posts and mainstream media headlines.

He certainly didn’t coin the phrase, but Senator Richard Shelby (R-Ala.), the ranking Republican on the Senate Banking Committee, gave MOAB a real boost by using it on Face the Nation on Sept. 21.

Talking about Treasury Secretary Henry Paulson’s $700 billion proposal to rescue Wall Street, Shelby said:

“You add a trillion here, a trillion there and sooner or later you have a debt for the American people. This is the mother of all bailouts.”

Transiting Jupiter in Capricorn has been opposing the maternal Cancer Sun of the U.S. Is this why we’re getting the “mother of all bailouts”?

Speaking of MOAB, commenter Cynthia sent this post in from AstroWorld. Great stuff on the secret meeting on Jekyll Island, Ga., that preceded the formation of the Federal Reserve Bank. Thanks for the link, Cynthia! It sparked me to write this post.