WWW.RIDESIDE.NET

Posted by dyedon8 on 2008-09-17 02:06:39 +0000

Added to soicalist watch lists: tgl. Your subscription to the Daily Worker is in the mail.

Posted by tgl on 2008-09-17 02:11:05 +0000

Me and George H.W. and George W.: Bush 41 bought out the S&Ls Bush 43 bought out the investment banks Bush 45 (Jeb) will buy out... the hedge funds.

Posted by ConorClockwise on 2008-09-17 06:33:28 +0000

To Repeat: GOP = Socialism? (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.

Posted by tgl on 2008-09-17 13:04:24 +0000

In my rant I forgot to list the nationalization of Fannie Mae and Freddie Mac.

Posted by MF DU on 2008-09-17 13:55:34 +0000

I was just about to post that... 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.

Posted by tgl on 2008-09-17 14:04:05 +0000

Yep, more downside to come. How many investment banks are "too big to fail"?

Posted by MF DU on 2008-09-17 14:17:37 +0000

Even the Hacks @ WSJ are swiping at McCain on this. Obama has his financial plan - where is McCain's?

Posted by tgl on 2008-09-17 15:01:34 +0000

Cut earmarks!

Posted by ConorClockwise on 2008-09-17 15:21:55 +0000

Since We (the people) now own 80% of AIG, do we get their profit share? Since we own a majority share, can we demand all profits until pay-off?

Posted by ConorClockwise on 2008-09-17 15:25:28 +0000

Did anyone at WSJ ever take an economics class?!?!? "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.

Posted by MF DU on 2008-09-17 16:52:20 +0000

I am surprised of the apparent negative reaction Conor has to my post. 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...

Posted by MF DU on 2008-09-17 16:57:59 +0000

This kind of amused me. Hope springs eternal, I 'spose.

Posted by tgl on 2008-09-17 17:01:15 +0000

CC is pointing out that even though the WSJ Online pundits are roughing up McCain, they're still making claims (against the preponderance of historical evidence) that a broad-based tax cut is what's need to solve this particular problem. But what can you expect from a group that thinks broad-based tax cuts are the cure for all problems?

Posted by Rideside Ref on 2008-09-17 18:05:44 +0000

There is no flag on the play.

Posted by tgl on 2008-09-17 18:17:23 +0000

Let's discuss how Ed Hochuli botched Monday's Cowboys-Eagles game!

Posted by MF DU on 2008-09-17 18:26:40 +0000

ahh there we go. I was missing that guy.

Posted by dyedon8 on 2008-09-17 18:40:45 +0000

Uh, wasn't that Sunday's Chargers/Broncos game?

Posted by TheFullCleveland on 2008-09-17 18:55:04 +0000

The "Operating Principles Cube", the "Stress Ball", and the "Emergency Evacuation Kit" are must-haves.

Posted by tgl on 2008-09-17 19:01:00 +0000

That one too!

Posted by ConorClockwise on 2008-09-17 22:35:52 +0000

Exactly. No static towards you, personally, at all MF. I just don't "get" the WSJ.

Posted by ConorClockwise on 2008-09-17 22:36:38 +0000

Approved.

Posted by MF DU on 2008-09-18 16:03:14 +0000

They are even too conservative for my tastes, but I love reading it for some reason - Contrarian fetish maybe?

Posted by mahatma chani on 2008-09-19 11:38:00 +0000

Scandalous!

Posted by tgl on 2008-09-19 15:16:05 +0000

The markets really do respond well to government intervention, don't they?

Posted by MF DU on 2008-09-19 16:27:42 +0000

Short sellers are just covering their positions. When the SEC drops the ban, the market will be in the toilet again - just you wait.

Posted by dyedon8 on 2008-09-19 17:39:38 +0000

So now Eddie Hawks is the second -best ref in the NFL. Oooooh.

Posted by MF DU on 2008-09-19 17:43:42 +0000

Ben Bernanke is going to kick the asses of all you NFL lovers hijacking this thread. Dont F_ with the Fed.

Posted by mr. mister on 2008-09-19 17:47:54 +0000

Wow Dow Jones up 500 down 500. whirlwind. The Dow Jones was at 10,600 back in 2000. I guess that buying out companies is a bad idea. But I can see the logic of not wanting to have 10's of thousands of financial employees out of jobs that basically facilitate the trading of all the securities that are tanking. But I don't want my taxes to go up. waaaaahhhhh I'm so confused.

Posted by dyedon8 on 2008-09-19 17:49:30 +0000

Whatever. You ask for the ref, he comes, people talk about refs and you bitch about it.

Posted by MF DU on 2008-09-19 17:50:04 +0000

Where was that "words we all hate" thread? I would like to add "leveraging" and "transparency" to the list.

Posted by tgl on 2008-09-19 17:58:10 +0000

Oh! Snap!

Posted by ConorClockwise on 2008-09-19 19:03:58 +0000

I dig "transparency", perhaps because I believe in it.

Posted by MF DU on 2008-09-19 19:07:22 +0000

I dig the concept, but working in a cubicle job and hearing middle mgmt say it every other word has made me loathe the word itself.

Posted by MF DU on 2008-09-19 19:08:46 +0000

Oh, umm, oops. Touche.

Posted by ConorClockwise on 2008-09-19 19:12:03 +0000

Understood.

Posted by tgl on 2008-09-24 15:57:44 +0000

Proposed cost is now a magnitude greater since the buyout of AIG. 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 William Buffet bailout Wall St.

Posted by ConorClockwise on 2008-09-24 16:34:03 +0000

So the new conservative view is: "'Free Market' until we screw up royally." Where is Grover Norquist on this?

Posted by MF DU on 2008-09-24 17:14:33 +0000

Shh. There is a monster at the end of this thread...

Posted by ConorClockwise on 2008-09-24 18:21:37 +0000

Huh?

Posted by Miriam on 2008-09-24 19:38:35 +0000

I like the Rubiks Cube. Why isn't this stuff how they bail themselves out? They could scrape together quite a chunk of change with all the stuff!

Posted by pamsterdam on 2008-09-24 19:59:35 +0000

LOL

Posted by tommy on 2008-09-24 21:16:24 +0000

In general, I agree with you. Huge banks and institutions cease to exist? Credit markets freeze up so that people and institutions (and governments?) have to spend less than they earn? This sounds like a better world; maybe even worth risking Great Depression II. 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.

Posted by TheFullCleveland on 2008-09-25 13:05:50 +0000

"[The $700B is] not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number." Way to go, f*ckers!

Posted by tgl on 2008-09-25 15:42:21 +0000

Brought to you by the same clear-eyed stoics who led us into Iraq, responded to Katerina, penned the USA PATRIOT Act, and generally spent all our money for the past 8 years.

Posted by MF DU on 2008-09-25 16:52:02 +0000

sorry - I didn't frame that joke too well. Here's what I was getting at: (It must be the inordiante amount of children's literature I am now exposed to as a Daddy) Vs.

Posted by pamsterdam on 2008-09-25 17:20:51 +0000

I thought it was hilarious. But then again, I had an unhealthy fixation on Grover as a child...

Posted by ConorClockwise on 2008-09-25 17:23:02 +0000

Gotcha. Grover = way awesome Norquist = could be totally awesome and get his followers to shit on the bail out.

Posted by MF DU on 2008-09-25 17:31:54 +0000

and here's the other thing about Grover- I am now trying to get Maddie into Sesame Street, but it is NEVER on when we are home, and even when I do find it - the program now centers more on Elmo. 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...

Posted by pamsterdam on 2008-09-25 17:43:18 +0000

I hate Elmo with a passion. This is what it means to be a true Grover fan. Grover had personality, verve, excitement. Elmo... has new shoes. You know what I mean. 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...

Posted by pamsterdam on 2008-09-25 17:53:52 +0000

Love, love, love:

Posted by ConorClockwise on 2008-09-30 06:20:43 +0000

Well said.