DISQUS

Cynics Party: Comrade Can You Spare $2 Trillion?

  • Cynica · 1 year ago
    OK, I only have a minor in Econ, but the way I read the proposed Bill, Comrade Secretary Paulson now pretty much runs our whole economy. A Bush appointee -- what could possibly go wrong? I'll be out back planting cabbage and potatoes for the lean times ahead.
  • mellbell · 1 year ago
    Cynica: Hence my extreme umbrage at Thomas Friedman's column yesterday. To wit:

    What would impress me from Obama? How about this: " .... At the same time, while I will go along with the bailout of the banking system, it will only be on the condition that the institutions that got us into this mess accept sweeping reforms -- in terms of transparency and limits on the leverage they can amass -- so we don’t go through something like this again. To help me figure this out, I’m going to keep Treasury Secretary Hank Paulson on the job for a while. I am impressed with his handling of this crisis."

    His other suggestion -- that Obama play hardball on fuel economy standards -- is already part of Obama's energy plan. And his suggestions for McCain? Repeal the Bush tax cuts and get out of Iraq within two years. I think someone already beat him to that. Nice try, Tom.
  • ManchuCandidate · 1 year ago
    In return for these monies, I want to see all those fucks who made bank on this lose their homes, cars, money, hookers, ivory backscratchers etc and work for minimum wage. Failing that, a coarse rope necktie.
  • ManchuCandidate · 1 year ago
    Silly Manchu, I doubt that will happen because Hapless Harry won't because he wants to be "nice". Fuck Nice.
  • Original Andrew · 1 year ago
    @ Manchu,

    Robert Borosage on HuffPo introduced a long list of things that the guvmit should do now:

    1) Taxpayer money; taxpayer accountability.

    2) Taxpayers share in the upside.

    3) Shut down the casino.

    4) Curb excessive CEO pay.

    5) Invest in the real economy.

    6) Aid the victims, not just the predators.

    7) Curb the political corruption.


    One doesn't need to see the future to predict how many of these will end up in the $700,000,000,000 Wall Street jackpot: 0.
  • Original Andrew · 1 year ago
    More importantly, will the Fed shoot dollars all over my chest if I stimulate the Bureau of Engraving and Printing?
  • ManchuCandidate · 1 year ago
    Krugman sez, nyet.

    http://krugman.blogs.nytimes.com/2008/09/20/no-...

    Posted a comment on Krugman's log.

    @OA. Sadly, I would bet $700 Billion (not a legal bet) that you are right.
  • JNOV · 1 year ago
    $700,000,000,000. That's a lot of zeros. The upside for me? Another doughnut, goose egg, null set...
  • redmanlaw · 1 year ago
    I used to tell my tribal clients that they should say their school or whatever was located in Tikrit and then maybe they'd get some funding on a timely basis. Now I'll tell them to find a way to get in on the bailout.

    Hey, this Aaron Roger for the Packer is not bad. And my Bronco are 3-0 now.

    /shows self out to deadspin
  • Ben Bernerdke · 1 year ago
    JNOV: No, the benefit for you (and all of us) is watching the rich fuckers have their little party, because clearly, at some point, some of that cash they're swimming around in is bound to splash over the side of the pool, right? Right?
  • JNOV · 1 year ago
    (Another disqus problem -- the recent comments don't update as quickly as I'd like -- I miss out on comments all the time, so I just randomly click on posts to see if there are new comments. I hope we don't keep this disqus.)

    @MyLoveIanJ: That little trickle is them peeing on our heads.
  • JNOV · 1 year ago
    Nada, bumpkiss, rien...
  • IanJ - The Poolnerd · 1 year ago
    JNOV: Yeah, the phrase I should have added to my previous post:

    ...splash over the side of the pool, and into our little drain...
  • Cookienerd · 1 year ago
    Mmm. There is nothing like a fresh-baked chocolate chip cookie to make the problems in the world seem a bit further away and less important.

    Cookienerd, back to the kitchen!
  • ManchuCandidate · 1 year ago
    Latest headlines off HuffPo. No blank check.

    The Demrats haz Spine?
  • SanFranLefty · 1 year ago
    uggggghhh. spent all weekend working and I'm not even an overpaid wall street attorney - in my dreams.

    Prommy, any new boats for us to look at as potential C.P.S.S. Molly Ivins? Have we figured out how they will run on biodiesel or some other such thing?
  • Horatio Nerdblower · 1 year ago
    SFL: I think sails are the only way to go for the CPSS Molly Ivins. Anything else is far too much work and too many resources. We could brew biodiesel on board, but we'd produce fuel about 100x slower than we'd want to use it.

    <passes out chocolate chip cookies, fresh from the oven>
  • Blogenfreude · 1 year ago
    I used to race sailboats. We need a J120 (12 meter) at least. Better yet, something oceangoing, so we can escape when President Palin attacks Mexico.
  • fried · 1 year ago
    ian,
    doesn't robert borsage's list look upside down in order of priority?

    ahh, trickle down economics. memories of ronnie. we knew then it meant trickling pee on our heads. we even called it voodoo economics. look how well that turned out-for them.
    i lost a lot of money this week. if i wasn't so grateful for having my babies back at home, my perspective would be much pissier.

    caught a rerun of the daily show last night half asleep. i can't remember who it was, but jon asked him, so if we were smart, we should pull out of the market?.
    no, he said, if we were smart we should be building bomb shelters.

    again, i'm predicting a mcInsane win and shortly thereafter, a prez palin who will take us all back to the stone age, and enact legislation that will be the final nail in the country's coffin. colbert even has a new feature: other countries to consider fleeing too. bill mawr even touched on it, but said he's gonna stick it out in usamerika.

    the ARK is not far fetched.
  • fried · 1 year ago
    (i meant original andrew)

    ian, jnov, lefty,
    yes, the ark must have sails, for when all other energy means are depleted.
    we have some time left, but this crazy notion shouldn't be dismissed as a joke.
  • prommy · 1 year ago
    Here ya go, Bloggie, we can do it with this; all it needs is a skull and crossbones: "http://www.yachtworld.com/core/listing/boatDetails.jsp?&units=Feet¤cy=USD&ro=8&r=1754543&rs=yachtworld.com&rt=Cruiser,%20Motorsailer/Pilothouse&boat_id=1754543&checked_boats=1754543&ftid=0&slim=quick&searchtype=topmenu&hmid=0&N=2279&sm=3&enid=0¤cyid=100&luom=126&cit=true"

    Really, go look.
  • Original Andrew · 1 year ago
    @ baked,


    Good point. The Mr. and I are gonna have a suitcase packed in November (just in case) so we can flee with our fur-babies to Vancouver before Canada City closes their borders
  • Original Andrew · 1 year ago
    And just to put that $700,000,000,000 figure in perspective, that's just about the entire amount Canada City owes on its national debt (which they've been paying down with budget surpluses over the last dozen years.)
  • Horatio Hornblownerd · 1 year ago
    Promstar: Yep, that's about what I was thinking of, but we're gonna have to get good at hauling on rope, or hire on some muscular young men to do our rope-hauling for us.
  • Cynica · 1 year ago
    @ Right behind you, OA.
  • redmanlaw · 1 year ago
    Mountain refuge. We have water, and the ability to grow crops despite the short growing season at my mother in in-law's place. Same deal at my parent's place back on the rez, except we have a longer growing season. (The fishing is better there, too, and the tribe not the state regulates hunting on our lands.) I do fear that all the game, cattle and domesticated animals may get slaughtered and butchered right away, however, when the shit hits the fan.

    Tips for hiding chickens in the crawlspace: hens only.

    Trout, squirrel and fresh corn for dinner tonight. Mr. Grouse did not put in an appearance yesterday.

    One of the most interesting books I read this summer "Anasazi America", was in part on the collapse of the Chaco culture in the 1100s due to drought. The refugees ranged far afield raiding other isolated Puebloan settlements for their stored food. Also, the guy who lets me hunt on his ranch told me about getting caught in a hurricane once while a long haul trucker. Those who were unlucky enough to break down on the side of the road while fleeing the storm were set upon by bandits and stirpped of all their provisions.

    The new "Personal Defense" publication by "Guns and Ammo" magazine should be on your local newsstands by now. There is an article in it on rural home defense and preparation of "bug out" packs in which middle aged WMs are seen packing more arms and gear than guys fighting in Iraq. Some guys never quit playing army.
  • prommy · 1 year ago
    Fucking Dickface McDouchebag the chambermaid-humper went on the View this morning and said he likes McCain and Obama, that both are qualified to be president. Fucking Clintons are gonna fuck Obama just so Cankles Republiwhore can run in 2012. He needs to deal with them right away. They need to be diappeared.

    Hey RML, all, it owuld seem the best place to light out for if the world is going down is to the most backward and primitive place you can find, somewhere they are still practicing traditional, un-mechanized agriculture, so you won't have to reinvent the wheel, huh? Maybe someplace way way out of the way in South America where you could grow potatos and maize and beans and raise sheep or goats or something.
  • rptrcub · 1 year ago
    @prommy: If M-P get into power, McC dies midterm and Palin assumes the office -- or even if McC is still alive, I think that Unicorn supporters may be so disgusted with her in '12 that a significant part of the Democratic Party would sit that one out.
  • redmanlaw · 1 year ago
    @ promisering: Mora County, New Mexico, where my in laws' ranch is at, is pretty backward and primitive and they're pretty goddamn proud it it, too.
  • SanFranLefty · 1 year ago
    @Prommy: I can't even think of Bill without wanting to scream.

    Meanwhile, you all may have seen this (it's making its rounds on the Tubez), but This is Your Nation on White Privilege:
    http://www.redroom.com/blog/tim-wise/this-your-...
  • prommy · 1 year ago
    But RML, we are gonna have to leave the US of Christian A at that point. They'll Waco us if we hole up anywhere.
  • redmanlaw · 1 year ago
    @promqueenhasagun - shit, the people up north here still think that they're part of Spain and have never really accepted American rule as imposed by Stephen F. Kearney in 1847.
  • KurtGodel · 1 year ago
    Genius of capitalism dept: someone has figured out how we, ordinary folks, can profit from President Paulson's plans: http://www.buymyshitpile.com/
  • prommy · 1 year ago
    Wouldn't a trillion dollars allow them to just make the payments on the defaulting mortgages? And would that not restore the bundled mortgage securities value to what it was, and release the insurance companies from having to pay out on the defaults?

    What I am saying here is that these are leveraged losses, seems to me, and we have decided to pay at the longer end of the lever. If we paid at the other end of the lever, couldn't we, the government, us, leverage the cure? Oh, and benefit the homeowners and save the real estate market as well, where the majority of americans have the majority of their assets, in their home? Just asking a dumb question, is all. Wouldn't the $1 trillion work just as well that way? And the gov. could even try to recover somehow, having the payments the gov makes on your mortgage added on as a second mortgage, you'd only have to pay it if you sold, and it would be limited to the equity in the house, no equity, no personal liability, so its tough but fair? Just an idea.

    RML, I just read a book about the stealing of New Mexico from Mexico and the american invaders war with the native americans, the story was centered around Kit Carson and the role he played.
  • prommy · 1 year ago
    I mean, taking over the payments on someone's mortgage for a year or even 5 years, while maybe either RE values or the economic condition of the people improve, isn't that cheaper than buying the whole fucking mortgage? It allows the gov. to cure all the defaults using an amortized stream of money, instead of buying all the defaulted mortgages at full value, I mean am I stupid here? Isn't that like, a lot less money? The cash outlay goes a lot further, like, you know, thats what I mean by leveraging the cure, instead of buying out the paper at the leveraged, inflated price.
  • Emmanuel Nerdstein · 1 year ago
    Prom: Sure, that'd work better, but it'd also be hell itself to administer. Who wants to work, when we can just throw money at the problem?
  • Original Andrew · 1 year ago
    @ prommy,


    Sorry, but this bailout is exclusively for the wealthy aka The People Who Matter.

    Perhaps for the first time in our lives, we're seeing the true face of American government and "capitalism," without any of the usual feel-good lies.
  • Tommmcatt_Interrupted · 1 year ago
    Ah, Prom, as usual you are a genius, but you forget that this economy is for the rich, not the rest of us. Things will be clearer when we all have to move into cardboard boxes later this year.
  • redmanlaw · 1 year ago
    And speaking of backward . . .

    "A local Republican Party leader in New Mexico has set off a firestorm by suggesting in an interview that Hispanics are racists who won't vote for a black candidate."

    http://rawstory.com/news/2008/GOP_official_Hisp...

    The Baca/C'de Baca (from "cabeza de baca" or "head of the cow") is a very prominent NM Hispanic family that goes back here to the 1600s. Note the reference to the Spanish coming here as "conquerors". Our local media has yet to hop on it.
  • TonyRamone · 1 year ago
    Anyone read Matt Taibbi's piece in the latest RS, the one with Metallica on the cover? He really saved up his stash of invective for the Talibunny, but really nails the nut of the problem: we are a nation that only puts down its bag of Family Sized Doritos long enough to change the channel.
  • SanFranLefty · 1 year ago
    @ OA, TommCatt:
    Yes, we are seeing the true face of capitalism with the bailout. Meanwhile my client who is struggling to raise 3 kids on her $1000/month income from fast food restaurants is vilified by our society and the GOP as living a taxpayer-subsidized lifestyle because she gets $350/mo. in food stamps.
    STABBY STABBY STABBY
    @TonyRamoneNabisco: Dude, I keep telling everyone to rent "Idiocracy." It's coming true.
  • redmanlaw · 1 year ago
    New Mexicans hate Sarah Palin.

    "Sarah Palin is not playing well with New Mexico voters. 46% say her selection made them less likely to vote for John McCain, compared to 38% who say it made them more likely to do so. Among independents her disapproval rating is 47%, and Obama has a 51-35 advantage with that group." - politicalwire.com

    We really hate the holier than thou, small town church lady, feigned-integrity-having political hack here. People know her type. Friend of the priest, pious as all get out but emotionally abuses her kids while her corrupt cop or politician husband steals everyone blind and fixes stuff from traffic tickets to drug dealing for his friends and family. And her daughter is a single mom by some hoodlum.

    @Dorito Ramone - I heart the new Metallica, btw, but Re-load and S & M are about the only things by them I really don't care for. Can't want to check the mailbox after work for my Rolling Stone. Thrash lives. Dave Mustaine must be ready to shoot himself over how well they're doing these days (Dude was kicked out of Metallica for excessive drug and alcohol use [for reals]; went on to found Megadeth, who have a new anthology out now or coming soon).

    New poll has The Eagle up by at least 11 here. Can I get a "hell yeah?" Jamie and Lefty will probably get sent to Colorado for GOTV. Richardson was there over the weekend. Maybe I'll go up for GOTV in Durango/Ute reservations and hit the San Juan river on the way back home
  • Tommmcatt_Interrupted · 1 year ago
    @RML

    Yah, the polls look good overall right now, so I'll go back to pretending they actually matter for a while.

    How does one get kicked out of a metal band for excessive drug and alcohol use? That's like being kicked out of a punk band for being too ugly...
  • JNOV · 1 year ago
    I <3 Mustaine.
  • SanFranLefty · 1 year ago
    @RML: You mean small town mean-spirited holier than thou church lady like the ones who stand outside women's health clinics and scream "whore" at the women coming in for a pap smear, supply of pills, HIV test, and/or abortion?
    Meet Sarah Palin, abortion clinic protester. The fundies are going to lurv her even more now.
    http://www.dailykos.com/storyonly/2008/9/22/111...

    http://www.salon.com/news/feature/2008/09/15/bess/

    /cues up Everlast's "What it's Like"
    "Mary got pregnant from a kid named Tom who said he was in love
    He said don't worry about a thing baby doll I'm the man you've been dreamin' of
    But three months later he said he won't date her or return her call
    And she sweared god damn if I find that man I'm cuttin' off his balls
    And then she heads for the clinic and she gets some static walkin' through the doors
    They call her a killer, and they call her a sinner, and they call her a whore
    God forbid you ever had to walk a mile in her shoes
    'Cause then you really might know what it's like to have to choose
    Then you really might know what it's like."
  • Cynica · 1 year ago
    Here in my small town there are 3 or 4 of those women who stand on either side of the main road thru town to the coast with "Abortion Kills Babies" and "Consider Adoption" signs. A few days ago, Mr Cyn saw that they'd been joined by a young woman holding an "Abortion is an Option sign." I must get to Staples to purchase my poster board and magic markers so we can have a "sign off."
  • redmanlaw · 1 year ago
    Deth to Clinic Blockers
  • redmanlaw · 1 year ago
    If you were interested in in knowing where Overlord Hunter is as, like other CPers, he's at his other job.

    http://deadspin.com/5053252/yankee-stadium-secu...
  • Original Andrew · 1 year ago
    @ San Fran Lefty,

    It’s heartbreaking, isn’t it? There are people in this nation who are truly suffering, and we have these investment/bank/insurance CEOs acting like the villains in an Austin Powers movie.

    “Gentlemen. Unless you meet all of our demands, we will crash the world economy. The only way to avoid this catastrophe is to pay us $700 BILLION DOLLARS!!1! BOOOHOOOWAAAHHAAAHHA!”(laughs uncontrollably…falls out of chair)

    We got the new issues of Fortune and Conde Nast Portfolio at work today, which breathlessly ask if the CEOs, led by Hank Paulson CEO Goldman Sachs 1999—2006, who got us into our financial apocalypse can save us? Should I read the articles? Do you think their answer will be yes? Oh sure, that seems perfectly reasonable.

    Needless to say, I’m sure they’ll also be keeping the billions in salaries and bonuses that shareholders have paid them. That’s probs why we haven’t seen more skyscraper swan-diving over the last week.
  • Cynica · 1 year ago
    @OA, SFL: Haven't you heard? It's all the fault of the bad loans they made to minorities (some moron on Faux said that. really.) and other deadbeats that caused this problem. And now those poor CEOs can't buy that 16th house in Hawaii to make the 25 yr old trophy wife happy. Have a little compassion. Won't someone think of the trophy wives?
  • CheapBoy · 1 year ago
    Tommcatt has it right. It would be cheaper to prop up the borrowers, rather than the lenders. And well unfortuneatly that won't happen, because that would humanise the crisis and make it 'realer'. Think flagged draped coffins and body-counts.

    But something that really got my goat today was some trader on Wall Street saying this wasn't the "Free Market's" fault, it was the Government via Greenspan, Bernanke and Paulson for having too much regulation.
  • CheapBoy · 1 year ago
    Well I suppose the trader has a point. Ya can't blame a pig for acting like a pig.
  • KurtGodel · 1 year ago
    The NYT is liveblogging the Senate Banking Committee hearing, featuring a bunch of old men who don't have a fucking clue asking questions to two guys who say the world will end unless they get what they want.

    Speaking of which, why isn't Obama running Keating 5 ads?
  • prommy · 1 year ago
    Dodd and a few others seem appropriately horrified by the bailout plan. Oh, and the Army Times reports that an active combat brigade has been ordered into duty inside the US for the first time since time imemorial, and is now training in crowd-control and non-lethal force. You know, in time for the elections, or the not elections, or whatever will be.
  • prommy · 1 year ago
    Here's the story, about the counter-insurgency battalion now training to fight americans: "http://www.armytimes.com/news/2008/09/army_homeland_090708w/"
  • flippin · 1 year ago
    It was shocking to me to listen to NPR this morning and come to the realization that the same fuckers who broke the system are going to be the ones hired by the gov't to fix it. It makes sense that Washington has neither the resources nor the time to set up their own infrastructure to oversee the disbursement of $700 kajillion or whatever the current amount is, but the affront of these asswipes to not only escape much hurt in the initial catastrophe but then profit on the recovery just makes my molars ache.
  • KurtGodel · 1 year ago
    I read that the Davis Polk law firm is representing pretty much everybody in this fiasco, except for Weil Gotshal who is representing Lehman in BK. No conflict, no interest, as we used to say. I wonder if they're getting paid in Euros?
  • KurtGodel · 1 year ago
    @flippin: I think you have nailed it.
  • redmanlaw · 1 year ago
    @ flippin - Hans Gruber wants his cut in bearer bonds. My son loves your gravatar, btw.

    @ prom prom prom, prom prom Iran - Jim Ward covered that on the Stephanie Miller show this morning. He's a big conspiracy buff who will soon be opening his new website dedicated to the subject.
  • flippin · 1 year ago
    @Cynica: I have a confession to make: I stole your trophy wives line for my Facebook status update today. Full confession: A few times I've cherry-picked the best CP lines for this same purpose in an effort to make my Facebook friends think I'm terribly clever. Mea culpa, mea culpa, I've sinned before FSM and before you all...