Wasn’t the bailout supposed to calm the financial markets?
Doesn’t seem to be working out that way:
Markets in Asia tumble amid fears of growing financial turmoil
London plunges as banks pump billions into market
US STOCKS-Futures tumble as credit woes fan global rout
You know what they’re going to tell you, don’t you:
***
See, I told you so: They want more, more, more…
Despite widespread unease over the use of taxpayer money to salve Wall Street’s wounds, it also seems virtually certain that lawmakers will in coming months confront anew demands for even greater government activism. Critics say the new federal legislation just won’t do enough to resolve the banks’ chief problem: a crippling shortage of capital.
Already, prominent economists across the political spectrum are floating proposals that envision mammoth government spending beyond the $700 billion bailout. Among them: shuttering insolvent banks and providing taxpayer cash to those that can be saved; a temporary unlimited government guarantee of all bank deposits; or even direct financial aid to individual homeowners to ward off foreclosure.
“This act alone is not really going to resolve anything. Eventually, the government is going to have to do more,” says George Magnus, senior economic adviser to UBS in London.
Meanwhile: The $85 billion bailed-out AIG parties hearty.
I repeat:
Paulson’s monumental misjudgment is no surprise to those who have paid attention to him over the last year. This is the man who proclaimed the subprime crisis “largely contained” in April 2007; “near the bottom” in May 2007; and “largely contained” again in August 2007. This is the man who pledged that he had “no interest in bailing out lenders or property speculators” in October 2007 and couldn’t “think of any situation where the backdrop of the global economy was as healthy as it is today.”
This is the man who patted himself on the back for refusing to “put taxpayer money on the line” to rescue Lehman Brothers on Sept. 15 – and then turned around the next day and engineered the $85 billion taxpayer-funded bailout of AIG. This is the man who vowed he had “no plans to insert money” into Fannie Mae and Freddie Mac –and then turned around and committed $200 billion in capital and credit lines to those corrupt, bloated, crumbling institutions.
This is the man who declared “the worst is likely to be behind us” in May 2008 – and then got down on his knees in front of Nancy Pelosi to pass a Mother of All Bailouts plan whose dollar figure was plucked from thin air. (“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com. “We just wanted to choose a really large number.”)
This is a man, in other words, whose crap sandwich should be taken with a huge grain of salt.
Too late now, feckless Congress.
Taste the Crap Sandwich.
See what others have said
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- Government Socialist Bailout: Wasn’t the Point of the Bail Out Package to Stabilize the Markets? | Scared Monkeys
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- The Mahablog » Serious
- BizzyBlog » Things I’d Like To Post About Today ….. (100608, Morning)
- Bloodthirsty Liberal » Pass the Bailout! Pass the Bailout!
- Michelle Malkin » Tales from the Chicken Little Congress: Martial law bogeyman
- Bailout Fail « Beltway Snark
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- skewred.com » USKKK of America? No, it’s USSR of America.
- Bailout Not Gonna Work « Federal Way Conservative
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- Brace Yourself - Black Bear Blog - Black Bear Blog - The Politics of Hunting, Fishing and the Outdoors. Protecting our American Heritage.
- The Pope, the Word & the World | The Anchoress
- Malkin et al on The Current Financial Crisis | TINY MINDS
- So Much for the Damn Bailout « The Daily Soybean
- 1996 Sen. Bob Dole ‘A Billion Here And A Billion There’ | BigMouthFrog
- Son-of-(a)-Bailout 10.6.08 « Gunservatively!
- Steynian 265 « Free Mark Steyn!
- I smelled a rat « Right Minded Online
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Categories: Subprime crisis
Right Wing Nut House
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On October 6th, 2008 at 11:48 am, orlandocajun said:
Amen.
The fair tax would make our economy so much more efficient. How much time do you waste on doing Income Tax returns? How much of an invasion of your privacy is it for the IRS to know everything about your finances? And what someone untrustworthy is in charge of the IRS and does what Vladimir Putin does in Russia?
So, fair to say that Bush’s ‘Illegals with family values’, are taking down the American families?
Did anyone ever think that some left wing billionaire maybe pulling strings by moving a substantial amount of assets electronically to manipulate the markets? Its the economy stupid!!!
At this point the only candidate running on either ticket that is notdirectly responsiable for this bail out is Sarah Palin. Because all the rest are sitting us senators who voted for this.
On October 6th, 2008 at 11:56 am, Cadman said:
Anthropogenic (Man-made) Global Warming (AGW) is part of the conspiracy.
The USA has at least three times as much oil as Saudi Arabia. If we tap into that, our economy would boom. The Communists and Jihadists who want to bring the American “Empire to its knees” are using the GREEN Movement (and green is symbolic of Islam) in order to block us from accessing our own oil.
The bans on offshore drilling and shale expired on October 1st. But, on October 1st the Senate passed the bailout bill which includes huge new taxes on the oil industry!
Two days later the House passed it and the “useful idiot” President signed it.
Incumbents need not apply. Nice vote McInsane, kiss the presidency good bye.
This global warming?
I only have one thing to ask all of the idiots in DC who voted for the Crap Sandwich …
Would you like Fries with that? …
Exactly.
That would be the Crap Sno-Cone.
8.2 degrees colder than any time since 1992.
Do you think these idiots are now working on how to extort money from us over the Global Ice Age?
Congress will be eating their own crap sandwich in November. Send your message to our ‘representatives?’ You’re fired!
This is the errant belief that Congress can control the capitalistic market.
The 777 point drop last monday was not because of the credit crunch. It WAS because of the vote. But it was covering positions traders had because they SPECULATED that with an additional 700 billion tax dollars, the market would go up. Without the bill, the market wouldn’t go up. . . they covered and the market went down.
Congress caused it with their fear mongering. Congress has ZERO control over capitalistic markets. They only control taxes. They can take more or less taxes. They can make doing business easier or more difficult.
But they can not direct the Dow Jones Industrial average to go up or down based on how they vote.
The problem is that the Congress thinks they are more powerful than they are. I shudder to think that they’ll continue to grab power until they can ACTUALLY manipulate the capitalistic markets. At that point, we will become the USSR.
The Republicans have dutifully put their heads in the noose that the Democrats prepared for them. By voting for the bailout, they have alienated what voters they had not yet alienated with their amnesty for illegal aliens AND their employers.
GOP-RIP
And folks wonder why I’m advocating for not voting for either Obama or McCain?
This is a truly disgusting situation. So much for free enterprise…
The public needs to feel that the people responsible for this are being held accountable.
So, what would make me feel better would be to see Paulson and Barny Frank in jail.
I’ve figured out how to get out of this mess: Listen to what Paulsen says and then do exactly the opposite.
Someone give a little hope here (and I mean real hope, not the scam that the Obamanation is pulling).
I do my best not to be any sort of chicken little, but when you add the events of recent days to the fact that the drooling masses of America are totally buying into anything the media tells them, I find it hard to believe that America has any chance of surviving as a free country for more than a year or two from now.
Is there any way it can possibly turn around?
The Dow tanking is the result of doing the easy thing rather than the difficult. Giving credit and loans to the less than worthy lead to this. The greedy fed on this money-making device until it proved faulty. While the getting was good, these loans were repackaged as “exotic” investment vehicles to many, many banks both here and abroad.
What’s even more distressing is that there have been 6 housing bubble/investment debacles since the Civil War. No one learns from these messes. The hard-working people who lived within their means get hit while the greedy and venal make off like bandits.
This isn’t a free-market economy, it’s a feel-good, everybody gets a gold star manipulated market.
RECALL! RECALL! RECALL!
Demand the immediate recall of Dodd, Frank, and this bozo.
The cost us $850 BILLION. Now, the corrupt Dems intend to put more money into this pit.
RECALL! RECALL! RECALL!
Not sure if anyone has brought this up but….I wonder how many of those Senators and Congressman got THEIR money out of the stockmarket? Would be interesting how and when, huh? If so, it would prove that they only care about themselves and not the people of this country!
but she supported the bailout and even praised John McCain for ‘participating’ in the talks…So I am not sure if your statement has any truth in it.
Has anyone heard that Obama has annouced today that no fix would work unless all the world economies acted as one to correct them, saying the problem would bounce from one market to the other. It was rumoured on another site. New World Order??
On one monitor I am watching my retirement account go up in flames and on the other one I am watching the country get ready to elect what will be the end of the USA as a country that I can believe in.
Just thought I would tune in for a dose of unfathomable stupidity from John Ansell and Virginia
Patriotto make my day complete.So, how will the markets recover if this bailout didn’t do it? Where does that leave Americans?
Maybe we can ask the people that decided to stay on Galveston Island even after eveyone said if you stay you will die.
Its not about the destination, its all about the journey.
Money well spent!!! (sarc off)
DOW down 588 as of 2:00 PM today. Guess the MSM is finally getting what they’ve been trumpeting and wishing for the past two years - bad economic news.
This is happy, happy, joy day for the Democrats.
They gain politically when the economy tanks and/or we’re losing the war.
This market debacle is a self-fulfilling prophecy.
The bailout debacle once again illustrates the drastic disconnect between politicians and reality. From the beginning, the politicians seemed more obsessed with the bailout than the “market” did. But investors are not as dumb as politicians think they are. Investors know a turkey when they see it. To the extent even concept of a bailout was a good idea, certainly any fool could see that the bailout we actually got — loaded with almost comical earmarks and other payola — was a turkey from Hell.
Moreover, investors are generally wary of dim-witted politicians trying to micro-manage the economy in the first place, and the nausiating spectacle of Pelosi, Dodd, Frank, etc. contratulating each other for their great “leadership” in the bailout efforts could only have further turned investors off to the whole idea.
The government was never needed for the markets to recover. This business of the government involved in the economy is nonsense. Do you hire a plumber to do the electrical work in your house?
What you have seen is plumbers attempting to do electrical work. They need to take a 12 step program and learn along with the rest of America to live within their means.
I remember someone ranting about how bad the economy was on the day the I-Phone was introduced. Remember how many were sold in a day? If we can buy that many $300 toys in a day, we are wasting too much of our income.
In the state where I live in there is NO BANKING CRISIS at all. Why? The banks did not invest in subprime loans and the real estate values appreciated reasonably.
People need to live on what they can afford, not what they deserve. The Congress should spend money the same way. That will recover the markets.
Hey Bill:
I just wanted to remind you:
of this…
…and…
of this…
Anymore wrong things? I’ve often be accused of mis-portraying McShaft. I guess we see now who hasn’t any idea of his favorite candidate’s leanings. McSnuffy twisted arms… AFTER the carbontax was included as pork. Anti-earmarks my eye.
How dare you call people who were warning you (Ansell & Patriot) names?
Oh, of course:
you’re a Democratian/Republicrat
Never your fault… oh no…
That certainly fits in well with his idea presented in a speech given in Colorado Springs on 2 Jul 08. He said, “We cannot continue to rely on our military in order to achieve the national security objectives we’ve set. We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well-funded.” (Joseph Farah and WND have written about this a few times now.) My question is: what does he plan to do with this “civilian national security force” with a $439 billion budget?
Every single country of the planet is dependent on the economy of the United States to some degree. When the financial earthquake hit here, it was only a matter of time before the tsunami it caused raced around the world and swept over all those who were sitting on financial beaches (they thought), laughing at us and lecturing us on our greed.
The problem was not “fixed” with the bailout. It is progressive, like a series of earthquakes rather than one big jolt. It will continue to rumble with aftershocks for years.
And nobody really knows what all the effects will be. The one thing I am certain of though, is that the first instincts of government (hyper-regulation, taxes, socialization) are going to make it much worse.
The free market system is self-correcting. THAT is the real solution.
Hmmmmm, stock market now below 10,000… One week to the day after I called it dropping? Do I get to say “I told ya’ll so” now?
The only SAFE investment at this moment is buying and HOLDING real estate like rental properties. People will ALWAYS have to live somewhere, and you can garner a better return on investment if you manage those properties yourself. Look around, buy smart, ask other Lessors who they use for maintenance contractors who are honest, etc. In other words, don’t be a lemming who simply dumps his or her money in the stock market and waits for the ROI to roll in. It ain’t gonna happen right now. I’ve got a feeling we’re still months away from finding the bottom of the well.
BTW-the bailout everyone hates WILL help in the long run, but not because it’s going to save “Main Street”, or because it’ll stabilize the stock market. Nothing controls Main Street economy or the stock market really. Main Street is governed by “confidence” and consumer earnings, and Wall Street is governed by damn little other than trends.
BTW-the other drop in oil prices could be attributed to a lack of speculation in the oil markets currently. If companies (banks) who were buying and holding oil futures are no longer doing that because they can’t borrow the money, the price per barrel of oil will continue to fall. I’m sure there’s a hard floor somewhere around $80-85 per barrel.
Friends, American: Countrymen.
I have an idea I’m certain it will work!
here’s the link on MM site
Here it is, slightly edited:
BTW-I called for a much bigger drop, much sooner… So I wasn’t completely clairvoyant. I think people are still pulling out and covering their positions because they want to see what the banks are going to do. They want to see who will get Fed money and clear their balance sheets first. There will be a sell-off before this happens so that smart investors will have the liquidity to snap up bank stocks later this month. If overseas banks keep doing poorly, while the US banks have this nice “bridge to nowhere” (as someone called it) the investment money will flow back into the US, regardless of what the US economy is doing.
Dress your congressman for halloween with lots of tar and feathers.
Johnny, m’lad, just to clue you in; Obama is an incumbent and he voted with McCain for the bailout.
Hard for anyone to have confidence in a $800+ Billion bailout, when the Bailout is going through the hands of the same incompetent poile of dog excrement, that are at the front of screwing everything up.
Just some ancient thoughts on the nature of temporal gain -
Hebrews 13:5-6
“Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.” So we can confidently say, “The Lord is my helper. I will not fear; what can man do to me?”"
I have a strong suspicion that Bush was talked into this whole “got to do it now” bail out business by Paulson who cares about who? Himself. All you have to do is look at the original plan and see that Paulson set himself up as the head.
I read somewhere that he really leans towards the Democrat side and probably will keep the position if Obama is elected. I’m sure some of you have heard the same thing.
Can you see Soros whispering an idea in Paulson’s ear, Paulson going to Bush, Bush trusting him and Soros laughing all the way to an Obama win in November?
A couple of days ago Obama said this bailout was just a start. That if he was elected he would continue the bailout.
At some point the planet will run out of money, we must stop bailing out the corruption and end the corruption.
Not as long as we have printing presses and trees!!! Of course after a while a loaf of bread will cost $100,000 dollars, but on the plus side, you can pay off your house by skiping 1 meal!!!
You’re on the right track. The bigger picture is to look into who forced the prior Treasury Secretary, John W. Snow, to resign. Snow was set up by someone…
Paulson is a Trojan Horse. Bush is a “useful idiot” for trusting Paulson’s advice. Soros is creating a manufactured crisis so that Paulson can obtain “Supreme Executive Power” over $700 Billion dollars. I, like you, believe that Paulson would be kept on by Obama. All the more reason why Bush should fire him…but Bush won’t.
Our constitution is all about the balance of power between three branches, so that no one branch can take complete control.
But this unconstitutional bill gives unchecked power to the Secretary of the Treasury to destablize our economy by rewarding the companies of his choice. He will choose to reward the companies controlled by Communists.
The only people we can blame for this disaster is ourselves. We keep electing these self serving idiots. We say my guy is good the others are bad, and keep perpetuating the problem. Vote all these asses out of office. What do you have to lose?
We need to write letters to our local rags to get the information out since the media won’t do their jobs.
This is what I wrote for the 200 word limit I have for our local paper, and I give anyone here permission to use this letter as a template for their own:
Thanks for the additional information. Like you, I believe there is more to this entire push for the bail out then we have been told.
VOTE THEM OUT! If your senator is running and voted for this thing, vote him/her out. If your representative voted for this thing, vote him/her out.
It’s all we have left as a way to make our voice heard.
Thank God for the honest Democrats:
this says it all…
http://texasholdemblogger.files.wordpress.com/2006/11/screwed.gif
Errah I’d like to see Paulson, Bernanke, and Cox placed in an 8×10 cell with Barney Frank and his tube of KY for the rest of their lifetimes and let him give them a little lesson on how the taxpayer feels about this bailout.
On October 6th, 2008 at 4:23 pm,
Those who cannot be voted out, IMPEACH!
This goes to the heart of the problem. But, let’s say. we are cheated by these slimy, corrupt and timid politicians, do not hesitate to IMPEACH them, without delay.
Probably available space at Gitmo by now.
aaaaiiiiiiiiiiiieeeeeee!!!!! Run for the hills! We’re all gonna die!
I feel better now.
On October 6th, 2008 at 2:22 pm, mike.musculus said:
I stand squarely behind every last word on that.
Hey Mike: The only thing funnier then the fact that you saved the links is that you STILL don’t get the fundamental equation here.
The election is between Barack Obama and John McCain. Not voting for what you call “the lesser of 2 evils” is going to give you the greater of 2 evils. ABOVE ALL: THE IDEA THAT DRAGGING THE COUNTRY THROUGH THE DIRT IS GOING TO GIVE YOU THE SECOND COMING OF REAGAN IS STUPID. Not to mention unpatriotic, self defeating and planted in your brain by a DNC hired PR firm to get their purely dangerous, sovereignty surrendering liar and thug elected president.
I have absolutely no doubt whatsoever that you are not going to allow yourself to see that at this point but don’t worry; I wont be saving the links to toss them at you when it hits the fan.
Congratulations. I was wrong and we are going to have a carbon tax. (Whether or not it was McCains doing doesn’t really matter to me at this point, Ill give you the point.) Doesn’t that give you satisfaction?
You are probably going to get an even more “comprehensive” carbon tax in line with the EU/Kyoto/world government. You are probably going to get full on amnesty, indeed INCENTIVES for people to immigrate here, you are probably going to get socialized medicine, you are probably going to get entitlement programs that you are not going to be able to pry away from the masses who are going to get hooked on the nanny state at the cost of the freedom/sovereignty that so many have died to protect and grow.
Isn’t that GREAT NEWS! I think the brain trust here is going to get it’s way. You are probably not going to have a McCain presidency because people who care as little for the country as you do are doing their very best to make this a full blown, genuine collapse in order to (Amazingly) get their candidate elected. You are effectively squarely on the same page as the George Soros’s, Rooting for disaster to try to exert more control over the rubble.
“How dare you call people who were warning you (Ansell & Patriot) names?”
Because it unbelievably stupid to be effectively working to elect the most leftist, dangerous, genuine threat to the country and justifying it by claiming to be acting on “conservative principles”.
I love this country and I don’t like people who want to see it gang raped in order to teach it a lesson.
Part of the reason the cost of oil is going down is the value of our dollar has been going up.
I do think the bail-out was a bad deal. I also believe, as has been pointed out here, that the decisions of FDR to step in and begin regulation and increase taxes, coupled with his ‘creation of jobs’ which were simply government programs funded with the increased taxes paid by the few with jobs, prolonged the Depression.
Therefore, it seems our government just took a big step on making the ‘recession’ longer.
However, I was pleased by McCain’s words regarding how to move forward. He proposes to Cut taxes - across the board. Cut taxes on wage earners, businesses and capital gains. This makes sense.
Although I am not a big proponent of the Fair Tax (as it fails to consider the State Income Tax as part of the cost). I strongly believe in a Flat Tax in which the rate cannot be raised without approval from 2/3rds of the States. But, I would support a Fair Tax to do away with the ever oppressive Income Tax and Redistribution of Wealth that comes with it.
On October 6th, 2008 at 3:13 pm, purplepeep said:
Thanks purplepeep. I was thinking along the lines of:
If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or, being lied about, don’t deal in lies,
Or, being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise;
If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with triumph and disaster
And treat those two imposters just the same;
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to broken,
And stoop and build ‘em up with wornout tools;
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: “Hold on”;
If you can talk with crowds and keep your virtue,
Or walk with kings - nor lose the common touch;
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run -
Yours is the Earth and everything that’s in it,
And - which is more - you’ll be a Man my son!
-Rudyard Kipling
Hmm.
I think I’ll go with Philips over Grant. It’s the Grant style thinking which has brought this country to its knees.
Considering that both McCain and Obama voted for the thing…
“None of the Above” is looking pretty good.
Bill:
I see you still lack reading comp. skills. No change from our previous tussles.
No notice of
… where I give a 1st thought on how to start the rebuilding.
Of course, we could just keep speaking glowingly of McSham, papering over his every flaw, which is the stategy you’ve put forth time & again.
No, vote for McCain. But send the letter, too. If he loses, it will be only his fault. If he wins, send the daily letter. 10min. every day isn’t too much time to take to remind those parasites in DC we’re keeping our eyes on them, and we will endure their challenger for a season if needs be to set the example.
I have noticed I haven’t seen anything constructive from you, though… although I’ve watched you flame a lot of others with nonsense.
I see the Kipling quote, I hope you don’t really think the “not deal in lies” applies to you. At one time I (foolishly) thought you were a straight-shooter, even if you only lacked good aim & fine control. After seeing you lay into people this last time, and then reviewing *all* your posts, I now see I’ve been mistaken.
Yes, lets none of lose our heads. I have 5yrs supply for me & my extended family,(or a yr’s when we share w/our nieghbors…), because after watching the politicians screw up 1920 our Church started a “keep a yr’s supply” program. And last year we were warned that world financial markets could very well tank, so double the supply. After all, if the crisis was avoided, it was a hedge against inflation — which was a done deal anyway.
Don’t you love that Old Time Religion?
On October 6th, 2008 at 5:53 pm, flenser said:
…cont
So because I have an IRA and stock I am letting “liberty be smothered in material prosperity?”
Thanks for nothing, flenser.
This whole bailout was a variation on the Advance Fee Fraud Scam. Millions of Americans can delete the email from Nigeria without losing a penny, but congress falls for the biggest con of all time. We know how this goes, the money wasn’t enough and we need to get more. In the end, the mark (US taxpayer) ends up broke.
Biggest Con Of All Time
On October 6th, 2008 at 6:23 pm, mike.musculus said:
So is that what you post when you can’t intelligently rebut what someone else wrote? Or is that just a non sequitur break from the verbal masturbation?
Rebuilding? I don’t think the people who have been involved in making the mess in the first place should be allowed to have a say in the “rebuilding”. If I have anything to say about it; you, and those like you aren’t going to be rebuilding squat. You are helping to make the mess that others will have to rebuild.
Or we could just shoot ourselves in the foot and tank the country because we are self-important blow hards who haven’t thought the ramifications of what we have been advocating through.
We are 29 days away from the election by the way.
Are you kidding? I have posted plans, links to organizations, action alerts, tactics and strategies to roll back what is coming. I have become convinced that people do not come here to be “constructive”. Perhaps you want some external validation by joining in the echo chamber…. I don’t need it. More likely I should take some of you at your word, you don’t WANT “constructive” you want “destructive” and Obama will do quite nicely. You can’t rebuild if you first don’t destroy. Right?
You wont be able to “rebuild” the mess that he is going to make the way you think you will be able to.
Where have I lied? Have I ever pronounced McCain to be the perfect candidate? My first choice? My second choice? No, he is the one that the primaries gave us. He is old as dirt and has some lousy ideas, OK? He is running against someone who is truly dangerous not only to the constitution but the the economic system as well as the the ideals that we need to preserve and re-affirm. Obama is an existential threat to the USA. McCain is not. We can clean up after McCain, I fear the mess Obama will make will be enough to ensure that we will lose our status as the pre-eminent sovereign nation on earth. Indeed, I have no doubt about it. Oh, we will still have the best ideals and the best aspirations and the finest code that some great minds gave us and some great people worked/died to secure.. We just will be using them as a door mat.
But hey, Why would I be depressed about this? Everyone is going to seek you out for leadership on the rebuilding.
LOL, See everyone! The rebuilding begins!
I worked for AIG for 3 years. Believe me: this party is not for employees of AIG. It’s to
bribereward their brokers and others who produce business for them, and who will help keep them afloat.Still, you’re absolutely right that our tax dollars are paying for this, now that they are first in line to be bailed out.
On the bright side, this is the only acquisition the Feds made that I am confident will produce profit for the taxpayer. Not sure if we’ll ever see the benefit, though, since under Obama’s administration, if you’re not a high-risk minority group, you’re not likely getting any benefits.
He’ll bank it for “reparations”.
Reminds me of the old joke:
“Do you like Kipling?”
“I don’t know - I’ve never kippled.”
Mike, I’ve had more than my share of tussles with some folks here in the past, including Bill. To me it doesn’t make much sense to keep reoord of every disagreement I’ve had with people hereabouts and drag them up at a later date. Sufficient unto the day is the evil thereof or something like that, y’know.
It’s wise to have something set aside for a rainy day, but I think you have to keep in mind there are also people who are less then neighborly in times of trouble.
The stock market is tanking as Obama does better in the polls.
Investors know good and well Obama will finish off our ailing economy.
Do you think there is any correlation between Obama’s surge in the polls and the loss of confidence in the market?
Do you think that foreign banks and investors are possibly worried about a novice winning the election and inheriting this mess?
Really? in what fashion am I doing that? I say right in the piece that was so obviously above your reading level:
“Vote LOTE“, you know: McCain. It seems you give friendly fire just fine. Sorry I agreed with you! I guess I was right: with friends like you, McCain needs no enemies! Are you going to push any others away?
My whole purpose, instead of whining like an infant is to put a blueprint on the net, and lets all kick it around. I’ll then ask Michelle to post the final, as an open letter. If she does, it will have as “Author:” all the posters here! In any event, I’ll post it on Dad’s site, with the Author line: “All the posters on Michelle Malkin’s site.”
Yeah, I can see how that will bring people to me!
Look, you dimbulb: I’m well over sixty, I’m forgoing my retirement after 34yrs USAF (paperwork started Monday…) because I don’t believe that we are following the Constitution any longer, and with The Lord’s Help I fulfill my Oaths! I’ve already turned down my promotion, and I’m forgoing my pension because the paperwork will go through faster, and I don’t want money from a Socialist regime — it is dirty. Yes, I won’t pin-on that star, but I’ll have been honest to myself. And yes, there are people I work with who think I’m nuts. So what? My family and I have decided what course we’re taking at our Councils. What others think doesn’t matter.
You think you’ve lost everything: I understand that. It could be worse. You could have been born in the LDS Church during the move West, when at least a third died in the handcart companies. Or, when the Missiouri Execution Order was signed by Boggs, not repealed until the 1990s. You could have been born in Pol Pot’s or Mao’s or Ho’s during their time, and died horribly in the purges!
I believe you’ve said you are a Christian. Don’t they teach in other versions of Christianity that everything is in the Lord’s Hand, so do not despair? Are you a Follower, or a Pretender? If you are a Follower, repent and be of good cheer: All that happens is only that which the Lord allows. It will make you stronger, better, and work for your edification!
But, as I said: I’m over 60: I just want to be left alone! I do what I do because even if this is truly the End Times, we have the obligation to do all that we can to save all that we can! The LDS Church doctrine has a story, which I’ve extremely condensed to provide the point:
What is wrong with following the teachings of my Church: self-sufficientcy? That you can’t help your nieghbors unless you able to care for yourself? You find sharing w/the others in a crisis funny? Ill-advised?
My Church says a member in good standing will, whenever possible, have 1yr of everything needful. Two years is better. More so you can help those who were not able or were unwarned.
This supply has helped in hurricanes, earthquakes, and other natural events. It helps when you are between jobs. In short, dimwit: what is wrong with the practice?
I had a long post I prepared where I took you apart using your own words, showing that if you aren’t one of the problem people you are a fellow-traveller. An Alinsky grad, as shown by your methods of operation. In the end, I’m not posting it. I decided that I’ve spent too much of my life on your foolishness. I no longer have time to play these games, I’ve got grownup things to do. As to your comment, Mr. Alinsky Grad: “…you, and those like you aren’t going to be rebuilding squat.” I’m sure you’re serious. I would expect nothing less from an Alinsky. I’ll place my words against yours, and let people decide which they’ll do. I’ll never know, but I don’t really think many will follow your method of “Whine & Awe”. And even if they do, so what? We (my family & I) follow The Lord: you can’t touch us, the worst you can do operates only in the Physical Realm.
This is the last time I will extend a hand. Reproving sharply when moved on by the Spirit. I, and those like me, will save what we can, always using the Documents of Inception as our guide… most who work will never see a blog, or care about your whining. Either help, or get out of the way!
Sorry about the length Michelle. I’ve tired of standing silent around the “Whine & Awe” crowd.
Atheling, I think you’re on to something here. I hadn’t though about that aspect, but now that you mention it, I can see it. Along with the Socialization of our economic system… They foreign investors know that if the Treas. can change terms on agreements w/o going through the Courts, (which would slow that whole process down), they don’t dare invest here! They’ll lose everything whenever a ripple occurs!
I do think that they know who is pulling Obie’s strings, and it scares them. They saw Soros almost tank Gr.B., and he’s stated that he hates the American economy. Add that to the fact everyone’s hooked into our economy, and I can see real fear that he might win in Nov.
But, thank you! I really dropped the ball in overlooking scenario you describe in the first part of your post!
Hi, purple! I’ve spent a long period ex-CONUS, and was feeling testy. I am tired of this person’s Alinsky-tactics, and on top of that, he tries to cover his poison words in our ears by playing victim.
But, you are right, of course. I no longer have time for childish games with imbicils of his stripe. There is “Man’s work” to do trying to save this Republic!
I don’t understand your 2nd comment. I will freely give, but for those who try to take w/o permission, the “Every Needful Thing” that I’ve stored includes ammo. Does that help?
Hey, Bill Grant:
Here is the full answer to you, you Fellow-Traveller.