Socialism Now!
Would anyone else have guessed that the greatest incursion into the markets since the Great Depression would be overseen by the Bush Administration? <a href="http://money.cnn.com/2008/09/16/news/companies/AIG/?postversion=2008091621">Come on!</a> We --the taxpayers-- own sizable debt from Bear Stearns and now 80% of AIG. Maybe this is a bit of hyperbole... but really... what happened to "the market works best on its' own"?
The Federal bailouts might be the best answer to resolving the sub-prime mortgage crisis. But is it too much to ask that the assholes running this country can at least admit that "sometimes the government is the answer"? It's OK to cut funds for poor people, but when the Elis in Brooks Brothers shirts break a sweat... that's when the checkbook comes out.
Let's repeat this: assholes.
Your subscription to the Daily Worker is in the mail.
Bush 41 bought out the S&Ls
Bush 43 bought out the investment banks
Bush 45 (Jeb) will buy out... the hedge funds.
(At least the CEO Bailout, or is that what Wall Street wants us to think) has some oversight.
Remember when (3 years ago) people thought Democrats were against accountability?
Karma. It's a bitch.
Republicans have gotten way too heavy handed on this stuff.
IMHO, until the markets can find the actual floor as opposed to the gov't induced yo-yoing of bailouts and buyouts, the additional intervention will just confuse investors and ultimately further erode confidence.
I still think this is going to get worse before it gets better.
Since we own a majority share, can we demand all profits until pay-off?
"Finally, Senator McCain should bring his worthy tax-cut plan out of hiding, and if anything refine it for immediate impact with an across-the-board income tax reduction. He then should ask, since when, as Senator Obama's proposals suggest, have we been able to tax our way out of economic trouble? If the U.S. economy is teetering on the edge of a recession or downturn, how has it become bad economics to propose a broad-based tax cut to revive the economy?"
History: just ignore it.
My point in posting this was not to start a debate about supply side economics and whether or not it works, but rather to posit that republicans have majorly contributed to USA's financial woes.
I am arguing the point against republicans here and still getting static?
I'll be sure my argument source material comes from TPM or Andrew Sullivan in the future.
I can sense the rideside ref somewhere in my peripheral vision...
But what can you expect from a group that thinks broad-based tax cuts are the cure for all problems?
There is no flag on the play.
No static towards you, personally, at all MF.
I just don't "get" the WSJ.
I'm coming to the opinion that the $700 billion check for Paulson to hand over to his former colleagues on Wall Street is a bad idea.
Let <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aGZEGE6.Gzc8&refer=home">William Buffet</a> bailout Wall St.
Where is Grover Norquist on this?
I would maybe swallow the bailout if there is some upside for We The People. For example, 'We' will take a shitload of 'distressed securities' off your hands for $700B if:
- We also get a bunch of stock in your company, so that if this bailout works and your company recovers, 'We' get to sell the shares.
- For any officer/employee/executive of the company making above, say, $800K per year... any salary/options/severance, etc given to that person must be matched $1-for-$1 with the rest of the money going to 'Us'.
I'm no finance expert, so I don't know what the details ought to look like. But, it seems like this is the time when 'We' have the most amount of bargaining power, and 'We' ought to be able to squeeze something out of these assholes. Don't like our deal? Okay, you can go out of business then. A deal where 'We' buy stuff for more than it's worth with no offsetting benefits would be criminal.
<img src="http://www.x-entertainment.com/articles/0901/14.jpg">
Vs.
<img src="http://www.nndb.com/people/482/000049335/gover_norquist.jpg">
Grover = way awesome
Norquist = could be totally awesome and get his followers to shit on the bail out.
I may not be treading on politically-correct ground, here, but Elmo is such a lesser muppet.
I think I need to get some of those 1970s Sesame Street dvds - you know: 'I Love Trash!' type of stuff...
My parents inexplicably (apart from the fact that they're my parents and therefore slightly nuts) got me Tickle-Me Elmo for Christmas circa 1997. Yes, I was 24 years old. And yes, the damn thing terrified me.
And Grover's emotional life was fairly complex for a muppet! No, I'm serious. Ennui, self-doubt, compassion...
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