One of the best political humor websites on the interwebs is iowahawk.  A letter has gone up there indicating that it is now under new (federal) ownership. Here is an excerpt from the letter, which I recommend you real in full:

Dear Weblog Stakeholder:

On March 7, 2009, David Burge, Chief Blogging Officer of iowahawk.typepad.com (herein after denoted as “Iowahawk”) presented written testimony before the official review board of the TWRA citing the Iowahawk Corporation’s untenable business model and requesting “some of that sweet bailout cash” for debt service and other financial relief. In his documentation, he said that unless such assistance were forthcoming, he would be forced to layoff two part-time Iowahawk employees listed as “Kyle” and “Pedro.”

The legislative charter of the TWRA, established by Congress and the President, specifies its principle goal as the preservation of jobs in the critically important blogging sector of the American economy. Thus the board invited Mr. Burge to present a formal proposal on March 11. After a brief negotiation period, Mr. Burge’s initial request of $6.3 billion was lowered to a mutually agreeable $750 and cab fare to the Greyhound station. In exchange, Mr. Burge agreed to (1) regularly submit the financial records of Iowahawk to TWRA oversight regulators, (2) cease outsourcing joke production to foreign subcontractors, and (3) implement a rigorous program of personal hygiene.