What's the difference between a Nigerian 419 scam letter and Hank Paulson's letter to Washington?

That's a good question - what is the difference between a Nigerian 419 scam email and Hank Paulson's letter to Washington to bail out Wall Street in the light of the recent collapse? Not much (if you consider this VERY tongue in cheek letter from Hank).

Seriously, this is a matter of some concern. I listened to two guys speaking about the merits and de-merits of a bail out while our train was stuck at Sloane Square station last night. The one guy made a good point, he said that this kind of 'bail out' tends to encourage rewarding people with poor fiscal responsibility. In other words, it's a bit like South Africa's national airline, no matter how badly you manage your finances, the government will always bail you out (and more)...

Of course the converse is that if the Federal reserve does not bail out Wall Street many, many, many innocent people will loose homes, cars, and their livelihood... It's a tough choice.

But, here's a little something to put a smile on your face regardless. What's the difference between Hank's letter and a Nigerian 419 scam? You tell me!

Hal sends us this "brilliant satiric email phrasing Hank Paulson's giant Wall Street bailout as Nigerian spam."

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson