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Citigroup bailout being hatched?

By Michelle Malkin  •  November 22, 2008 12:26 PM

Click here for update: Citibail!

Where are our fiscal conservative watchdogs in Washington? Bloomberg reports that analysts are confident a rumored Citigroup bailout is being hatched. You’ll remember that the AIG bailout negotiations took place out of sight, in the dark of night, on past weekends. Looks like we may have another one cooking.

This is our money — despite what bailout stooge GOP Rep. Joe Knollenberg and his grubby-handed colleagues on both sides of the aisle may think — and we deserve input. GOP leaders, where are you? Wake up and smell the money grab. Get to work. Chop-chop:

Citigroup Inc. will probably get rescued by the U.S. government after a crisis in confidence erased half its stock-market value in three days, investors and analysts said.

Citigroup has more than $2 trillion of assets, dwarfing companies such as American International Group Inc. that got U.S. support this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.’s bankruptcy in September.

“There is no question that Citi is in the category of ‘too big to fail,’” said Michael Holland, chairman and founder of Holland & Co. in New York, which oversees $4 billion. “There is a commitment from this administration and the next to do what it takes to save Citi.”

…Including a $25 billion capital injection from the U.S. Treasury under the $700 billion Troubled Asset Relief Program, the company has at least $50 billion of capital above the amount required by regulators to qualify as “well capitalized.” Capital is the cushion banks must keep to absorb losses and protect depositors.

Deutsche Bank AG analyst Mike Mayo wrote in a report today that the bank’s $25 billion of reserves, when combined with other resources, “should be enough to cover estimated cumulative losses of $50 billion on loans.’” Mayo rates the stock “hold” and has a $9 price target.

“With Citi being as big as they are, the government will make a special case and step in and find another reason to dispose of more TARP funds,” said Matt McCormick, a portfolio manager and banking analyst at Bahl & Gaynor Investment Counsel in Cincinnati, which manages about $2.9 billion and doesn’t own Citigroup stock or debt.

Posted in: Subprime crisis

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Comments

  1. #1
    On November 22nd, 2008 at 12:42 pm, Boomer said:

    The Air Force (not sure if any other DoD entities are on board) just awarded their Government Travel Card (GTC) Program to CITI, which will be activated on 30 Nov 08 it appears the Federal Government will want to cover their butts in taking the contract away from US Bank so they don’t lose their new service provider. By the way the transition is a freaking nightmare with a large population of our Wing deployed receiving new credit cards at their deployed locations (some have yet to receive them).

    It is also causing huge problems with the Defense Travel System in making accrual payments toward charges made on the old card to get to their current deployed location not to mention other issues with trying to get the orders to cross fiscal years. The GTC is mandatory for those that travel on official USAF orders to pay all costs. If the traveler uses their own credit card they risk not being reimbursed.

    This part of crap sandwich 2.0 is one of those damned if you do and damned if you don’t moments. God please deliver us from anymore government help in this government made mess! :roll:

    ΜΟΛΩΝ ΛΑΒE (mo-lone lah-veh) Translation: “Come and Take Them!”

  2. #2
    On November 22nd, 2008 at 12:50 pm, scituate_tgr said:

    The Monopoly analogy has so many connections to today’s ills I don’t know where to begin.

  3. #3
    On November 22nd, 2008 at 12:51 pm, ajmontana said:

    What’s the Guiness world record for the longest/biggest Crap Sandwich? :shock:
    I fear it’s be shattered, Guiness hates those re-printing costs….
    Oh wait….They can get a Bailout!

  4. #4
    On November 22nd, 2008 at 12:56 pm, Rogue Cheddar said:

    I can’t eat anymore! (pushes away from table) No more crap sandwich please! I got to save room for Thanksgiving Day turkey.

  5. #5
    On November 22nd, 2008 at 12:57 pm, thirteen28 said:

    If you want to read about the type of behavior that got us into this mess, read this piece by Michael Lewis.

    Be prepared to have your blood boil. This is the kind of stuff we are bailing out.

  6. #6
    On November 22nd, 2008 at 12:57 pm, Doctor Hook said:

    We are being smothered by a TARP.

  7. #7
    On November 22nd, 2008 at 1:13 pm, DannoJyd said:

    I never liked Citigroup, and hope this crashes and burns just like the rest of the Congressional Democrat plans!

  8. #8
    On November 22nd, 2008 at 1:14 pm, FamilyMan said:

    If we all got together and demanded personal bailouts the politicians might here us. It work on the immigration bill.
    Swarm
    Swarm
    SWARM FOR MY BAILOUT.
    I know that’s stupid, but I see no difference in what the government is doing.

  9. #9
    On November 22nd, 2008 at 1:19 pm, bjc said:

    No company is too big to fail; This continued intervention has to stop; Those in congress that voted yes for the original bailout have already cursed us and any remaining generations with an untenable budgetary situation in regards to Social Security and Medicare, and now they choose to double down on this fiscal idiocy.

  10. #10
    On November 22nd, 2008 at 1:21 pm, zorro said:

    Will this ever end?

    I have a feeling that Barney Frank’s picture will soon be hanging in bank and car dealership…

  11. #11
    On November 22nd, 2008 at 1:22 pm, zorro said:

    …will soon be hanging in bank and car dealership…

    I should have typed “…will soon be hanging in every bank and car dealership.

  12. #12
    On November 22nd, 2008 at 1:24 pm, ajmontana said:

    Rather see it posted in all the Post Offices. :shock:

  13. #13
    On November 22nd, 2008 at 1:26 pm, seveneleventy said:

    You’ll remember that the AIG bailout negotiations took place out of sight, in the dark of night, on past weekends.

    Yeah, and it makes me mad as hell. What happened to “transparency?” I guess I really don’t know what the word means. I’d look it up in the dictionary, but I’m afraid there’d be a picture of Hank Paulson sporting a red circle with a slash over it.

  14. #14
    On November 22nd, 2008 at 1:28 pm, sandyb said:

    Our local talk-radio guy recently interviewed Gerald Celente, director of Trends Research. Doc Thompson, who sometimes subs for Glenn Beck, said this was “the interview of a lifetime.”
    You can check out Celente’s predictions at:

    http://www.trendsresearch.com/

    While I got stuck in an appointment and missed the meat of the interview, I could tell from the calls that came in right after that it was indeed sobering.

    The host read a couple quotes:

    “This December, 2009, you’re thinking about what to give for Christmas.

    “In December 2012, you’ll be on the street looking for food.”

    He also predicted tent cities and water shortages as well. Blade Runnerville. Check out the link. His site backs up his accuracy with old clips of news shows where he predicted what’s happening now.

  15. #15
    On November 22nd, 2008 at 1:47 pm, ironman said:

    I wonder what our great-great-great grandchildren will be saying
    in 120 years as they write a payment check on April 15th for the Big Bailout of 2009?

  16. #16
    On November 22nd, 2008 at 2:13 pm, Jet Jaguar said:

    I had a conversation with a co-worker yesterday. This person legally emigrated to the U.S. from Belarus and grew up in the old communist regime.

    I joked with him that since the government is bailing out these big companies, why not just add a few zeroes to the end of everyone’s bank account. It’s free money, right? He laughed and said that my suggestion would cause the price of everything to skyrocket.

    I replied that the government should prevent this by passing a law to keep prices on all goods and services to current levels. (again, remember that I’m not seriously proposing this)

    He said that if the government did that, then the shelves would quickly be emptied at every store. People would just scramble to buy everything they could before their neighbor gets it.

    Going with this, I said — okay, then the government would pass a law that would stop this hoarding from happening.

    He said, that’s just what the USSR had done. Everyone got coupons from the government to redeem for their needs. You could only legally obtain an item by trading in these coupons.

    That’s where we’re headed folks. The government is pumping in massive amounts of “free” money into the system. Left unchecked, we’ll eventually lose our ability to gain what we want by hard work. It won’t matter if we work harder. The government will only award what they think that we need to live, which of course, won’t be nearly enough (think Social Security).

    Of course, if the worst happens, there’ll be a thriving black market of trade and barter. The government system will turn us into “criminals” in order to support ourselves and our families. They’ll have to crack down on this somehow. Probably through a secret police force to spy us out. No one is going to trade with a uniformed officer around. They will probably even offer rewards for whistle-blowers. Then it’s off to the gulag, comrade!

  17. #17
    On November 22nd, 2008 at 2:15 pm, AlohaGuy said:

    AlohaGuyGroup is also too big to fail. Send the money now. I have just fired 53,000 employees (what were they doing that we now don’t need?) and if I don’t get the money now western civilization will collapse. (Ok technically it already has, but facts, schackts). I’m down to 2 Gulfstream jets that will only be used by very senior management and their bimbos on company business (on their knees in DC) and trips to Davos for skiing - I mean economic conferences, heh-heh.

  18. #18
    On November 22nd, 2008 at 2:17 pm, ajmontana said:

    Michelle, if your listening check tips at write mm e mail. Just sent a link to what Citi paid for naming writes for the new Mets stadium in N.Y.
    Unreal. and they want a bailout?
    Talk about nerve.

  19. #19
    On November 22nd, 2008 at 2:19 pm, ajmontana said:

    Rights* :oops:

  20. #20
    On November 22nd, 2008 at 2:24 pm, MarcoPolo said:

    I wonder what our great-great-great grandchildren will be saying
    in 120 years as they write a payment check on April 15th for the Big Bailout of 2009?

    They’ll be cursing us, wondering why we didn’t do anything to stop them.

  21. #21
    On November 22nd, 2008 at 2:30 pm, AlohaGuy said:

    They’ll be cursing us, wondering why we didn’t do anything to stop them.

    …in a lingua franca that seems like a remarkable combination of Spanish and Chinese…

  22. #22
    On November 22nd, 2008 at 2:33 pm, TMoney said:

    Citigroup, AIG, Big 3, et al are “too big to fail”?

    Does that not, in some perverted way, intimate that I, and my itsy-bitsy bank accounts, are too small to succeed?

  23. #23
    On November 22nd, 2008 at 2:48 pm, IndependentTom said:

    Is anybody really surprised at this?

  24. #24
    On November 22nd, 2008 at 3:12 pm, rightisright said:

    let me get this straight, these beggars are to big to fail, but the greatest country in history will fail? of course…crooks all.
    Most voters treat the elections like their voting in a celebrity contest, not the future of their families and America.
    As Walter says: “dumb a$$e$”

    Beware folks, it’s going to get ugly and real soon.

  25. #25
    On November 22nd, 2008 at 3:19 pm, longbow said:

    Crap sandwich, indeed…fresh fecal material on a bed of arugula, seasoned with false promises and served on a bailout bun…it doesn’t go down any better no matter what you call it.

    Get in line now to be fleeced early. And often. Hello socialism, it was nice knowin’ ya capitalism, but you just didn’t take care of me like the new guy promises he will, and I won’t have to give up anything to get all the benefits, except my freedom, of course…

  26. #26
    On November 22nd, 2008 at 3:20 pm, Wade said:

    Absolutely fabricated

  27. #27
    On November 22nd, 2008 at 3:23 pm, right4life said:

    Of course, if the worst happens, there’ll be a thriving black market of trade and barter. The government system will turn us into “criminals” in order to support ourselves and our families. They’ll have to crack down on this somehow. Probably through a secret police force to spy us out. No one is going to trade with a uniformed officer around. They will probably even offer rewards for whistle-blowers. Then it’s off to the gulag, comrade!

    very true…what could they use to control the buying and selling..hmmm…could it be a mark on your hand or forehead??? :shock:

    naw couldn’t be… :P

  28. #28
    On November 22nd, 2008 at 4:10 pm, palologirl said:

    right4life, you are so right on the mark, unfortunately many people refuse to believe it could happen. The stage is being set and most people are ignoring the signs. They will be in for a rude awakening.

  29. #29
    On November 22nd, 2008 at 4:13 pm, ajmontana said:

    Do we get to put our names on the Shiny New Mets stadium if the crapweasels bail out Citi??????
    I have dib’s on behing home plate.
    $400 million dollars for naming rights.
    :shock:
    Like to see the entire list of Ad dollars these morons whizzed away and now are caling boo hoo poor us.

  30. #30
    On November 22nd, 2008 at 4:15 pm, ajmontana said:

    *behind :oops: sheesh

  31. #31
    On November 22nd, 2008 at 5:31 pm, Flyoverman said:

    I fail to see the logic in allowing failure to continue. If poorly run companies are saved from failure they are not replaced by better, healthier companies. The companies that emerged from the Depression were the leaders for the next 40 years and beyond.

    We will never see these companies that keep our economy vibrant emerge with these diseased entities like Citi and AIG choking off their growth.

    Socialists with no knowledge of history are NOT the people we want calling the shots.

  32. #32
    On November 22nd, 2008 at 6:02 pm, rambler said:

    Just spreading the wealth!

  33. #33
    On November 22nd, 2008 at 6:19 pm, Papa Louie said:

    Wake up and smell the money grab.

    I would strongly recommend to anyone who wishes to argue against the idea of “legal plunder” to read “The Law” by Frederic Bastiat - 1850.
    Here are a few quotes:

    [The law] has converted plunder into a right, that it may protect it, and lawful defense into a crime, that it may punish it.

    …when [the masses] attempt the attainment of their political rights; either they may wish to put an end to lawful plunder, or they may desire to take part in it. Woe to the nation where this latter thought prevails amongst the masses…

    The delusion of the day is to enrich all classes at the expense of each other; it is to generalize plunder under pretense of organizing it. [community organizer, anyone?]

    Now, legal plunder may be exercised in an infinite multitude of ways. Hence come an infinite multitude of plans for organization; tariffs, protection, perquisites, gratuities, encouragements, progressive taxation, free public education, right to work, right to profit, right to wages, right to assistance… And it is all these plans, taken as a whole, with what they have in common, legal plunder, that takes the name of socialism.

    [The law] can only be an instrument of equalization as far as it takes from one party to give to another, and then it is an instrument of plunder.

    The Socialists say, since the law organizes justice, why would it not organize labor, instruction, and religion? Why? Because it could not organize labor, instruction, and religion, without disorganizing justice.

    Try to imagine a form of labor imposed by force, that is not a violation of liberty; a transmission of wealth imposed by force, that is not a violation of property. If you cannot succeed in reconciling this, you are bound to conclude that the law cannot organize labor and industry without organizing injustice.

    I think I now know what a “community organizer” does: he organizes injustice…

  34. #34
    On November 22nd, 2008 at 6:24 pm, ArizonaNeanderthal said:

    I was listening to Messiah-Elect BroBama this morning–not to worry-by the end of January all problems will be solved with green collar jobs.

    All face Chicago and salute Dear Leader the Ayatollah BroBama and kiss your rights as free people good bye.

    Or not.

    Is NOW the time for the Second American Revolution?

  35. #35
    On November 22nd, 2008 at 6:43 pm, hunter said:

    Once again; torch, pitchfork. ArizonaNeanderthal, it just may be.

  36. #36
    On November 22nd, 2008 at 6:51 pm, sandyb said:

    One of my most blood-chilling moments so far — a talk radio caller said that her company, AFLAC, was put on written notice — via the government – that they were not to solicit any business from AIG clients.

    Let the goose stepping begin.

  37. #37
    On November 22nd, 2008 at 6:59 pm, ajmontana said:

    A F L A C
    Avoids
    Failing
    Lame
    A$$
    Companies

  38. #38
    On November 22nd, 2008 at 8:24 pm, Christian Soldier said:

    “…rescued by the US government…”

    My fellow US citizens-WE ARE the US GOVERNMENT!!!

    I think we have been made to forget that little tid- bit of information…
    It’s time to tell our elected SERVANTS that the money is OURS and so is the government!

    C-CS

  39. #39
    On November 22nd, 2008 at 8:51 pm, MarcoPolo said:

    Uh-oh - Looks like eTrade got themselves a shiny new tin cup to take to Washington.

    http://www.reuters.com/article/ousiv/idUSTRE4AK6NM20081121

    It sounds like their survival depends on getting $800 million from the TARP due to their crappy bets on mortgages.

    Only $800 million? Such a deal!

  40. #40
    On November 22nd, 2008 at 9:43 pm, ironman said:

    On November 22nd, 2008 at 5:31 pm, Flyoverman said:
    I fail to see the logic in allowing failure to continue.

    Unfortunately my friend,logic as well as common sense are the two things that have failed to continue in DC.They have been replaced by utter madness.Watching these events unfold is like being in a bizarre episode of the Twilight Zone.I keep expecting Rod Serling to walk onscreen to deliver his monologue..

  41. #41
    On November 23rd, 2008 at 1:39 am, prendad said:

    Gee, is it my imagination or is Congress just doing whatever it wants to nowadays and flipping us (American citizens who pay their salary) the bird? I know this is probably nothing really new but they don’t even try to hide it anymore. Vicious, treacherous, drunk with power, Pelosi and her cronies have truly gone mad. God help us all.

  42. #42
    On November 23rd, 2008 at 4:51 am, bansharia said:

    Who is doing the shorting?

  43. #43
    On November 23rd, 2008 at 9:07 am, sandyb said:

    I believe our Founders had a name for this:

    Taxation without representation.

  44. #44
    On November 23rd, 2008 at 9:30 am, bansharia said:

    Life is very simple:
    stop giving banks YOUR money.
    Go credit union!!!
    reduce your tax footprint

  45. #45
    On November 23rd, 2008 at 9:33 am, bansharia said:

    donde esta en salada ceasar salada en tiajuana
    lmaoo amyone watching CBS show?
    what a hoot!!

  46. #46
    On November 23rd, 2008 at 9:37 am, bansharia said:

    ops anyone and I shoulda said OT I guess
    but this is the dead thread of the dead blog: no harm no foul ;)
    and darn funny for you west coasters who havent gotten it yet.

    Is there any debate THE game today is
    J-E-T-S JETS JETS JETS kicking the them tthings of Tenneseeyaperfectrecords?

  47. #47
    On November 23rd, 2008 at 11:43 am, gandolphxx said:

    The irony here is that Paulson and the feds were trying to give away Wachovia to these clowns as a gift, only outrge and common sense prevented it.

  48. #48
    On November 23rd, 2008 at 11:55 am, nlebou said:

    Has anyone heard from sonofdy? Just wondering how his wife is doing.

  49. #49
    On November 23rd, 2008 at 12:13 pm, brad_sk said:

    Boy…am I glad that the phony conservative Mr. Bush will be out by Jan 20. Obama may be no better in terms of fiscal conservatism but ateleast he will not screw up republican name.

  50. #50
    On November 23rd, 2008 at 12:16 pm, happy2behere said:

    The answer is: small well-managed local banks.

  51. #51
    On November 23rd, 2008 at 12:21 pm, happy2behere said:

    #41 - Congress, backed by the handout peddlers and appplauded by the rest of the world, just helps themselves to more of our money everyday.

  52. #52
    On November 23rd, 2008 at 12:58 pm, Marc said:

    According to some news accounts, Citigroup recently paid former President Clinton $450,000.00 for giving one speech. I don’t know if this is true or not but it should be investigated. If it is true and Citigroup was paying Clinton this kind of scratch while it was busy layingoff secretaries and janitors (who actually do legitimate work unlike Mr. Clinton’s speech, which does not help the shareholders or customers at all), then this should be one more reason for opposing a Citigroup bailout. Say what you want about the NY Times. Today the MY Times does a masterful job in exposing all the wild and risky trading that led to Citigroup’s troubles. In addition, Citigroup doled out hundreds of millions in foolish loans to resorts who anyone with a 5th grade education would know could not pay back the loans.

  53. #53
    On November 23rd, 2008 at 1:31 pm, AlohaGuy said:

    …who anyone with a 5th grade education would know…

    The problem is they hire ivy league grads - so beloved by Brooks, Chap and NYK - rather than people with street smarts.

  54. #54
    On November 23rd, 2008 at 2:06 pm, nlebou said:

    The problem is they hire ivy league grads - so beloved by Brooks, Chap and NYK - rather than people with street smarts.

    ding, ding, ding, ding

  55. #55
    On November 23rd, 2008 at 4:10 pm, SpeakEasy said:

    On November 22nd, 2008 at 2:24 pm, MarcoPolo said:I wonder what our great-great-great grandchildren will be saying in 120 years as they write a payment check on April 15th for the Big Bailout of 2009?
    They’ll be cursing us, wondering why we didn’t do anything to stop them.

    The problem is, we can’t DO anything to stop them ever since withholding taxes became mandatory. We lost our ability to say “no.”

    Boomer, I feel your pain. (USMC) I had a military charge card years back and ran into all kinds of trouble. I refused to use it, starting using my own and had ZERO problems. Now they are trying to force another one on me (”it is different this time…”) but I still refuse to put my credit at risk of their incompetence. Luckily for me I am retiring this next year so they can not really hold anything over my head. I feel for those who have years to go. It always burned my ass that they made us front the money for a trip we were forced to take and wait around for reimbursement. I tell them, you want me to travel, you pay.

    On November 22nd, 2008 at 8:24 pm, Christian Soldier said:
    “…rescued by the US government…”
    My fellow US citizens-WE ARE the US GOVERNMENT!!!

    Sadly I’m afraid this is no longer true. Not when our wishes are ignored and we are FORCED to finance things we are in opposition to and actually work to our detriment. No longer true.

    And finally, how telling is it the the same people who profess to hate capitalism are calling out for bailouts of large capitalistic companies? It is not hard to see the true agenda. The inclination to let capitalism to “fail” is off-set by the agenda to prop up the unions, which are the cause of the failure. Look through the forest and you will see the trees.

    Sorry so long, I got a late start today.

  56. #56
    On November 23rd, 2008 at 4:13 pm, SpeakEasy said:

    Are there any tax attorneys out there who can tell me how to, legally, keep my money in my own account until filing a return? There should be a way to stage a “slow down” of money into the governmental coffers to show we are fed up.

  57. #57
    On November 23rd, 2008 at 4:26 pm, bansharia said:

    Speak,
    am not sure what you mean by keeping it until you file a return?
    If you owe taxes they must be paid the goal is to reduce the tax footprint.

  58. #58
    On November 23rd, 2008 at 4:26 pm, bansharia said:

    P.S
    J-E-T-S JETS JETS JETS KICKED um WON
    woo hoooooo

  59. #59
    On November 23rd, 2008 at 4:29 pm, Bruce said:

    The GOP will do nothing. Conservatives are without a voice.

    The time to abandon the GOP as a source of hope is NOW.

    Nothing will EVER change until Conservatives unite and fight together against the GOP and the DEMS.

    This nation is almost irrecoverable.

  60. #60
    On November 23rd, 2008 at 4:34 pm, SpeakEasy said:

    Bansharia,
    Well since I have taxes taken out every month and get a refund when I file, I suspect the government earns a good deal of interest on MY money until they refund a portion to me after I file. If I can put a dent in their cash flow by having zero taxes deducted even though I will still owe in the end, it might send a message. Well, that is if enough people do likewise.

  61. #61
    On November 23rd, 2008 at 4:37 pm, bansharia said:

    Speak,
    okay well you didnt linger about for an answer, fair enuff tis a dead blog.
    should you poke back:
    CONfiscatory taxation is a very simple concept what cannot be seen cannot be taxed…. reduce your footprint as any
    red blooded American should. What We the People earn is ours it is NOT revenue for dims/rinos. As far as that “give back” crap well it wasnt borrowed what I chooooose to give is a gift there aint no back about it.

  62. #62
    On November 23rd, 2008 at 4:38 pm, Bruce said:

    WOWA! SpeakEasy has another great idea that won’t do anything to break the tyranny of Washington. Keep it up!

  63. #63
    On November 23rd, 2008 at 4:40 pm, bansharia said:

    ah Speak you are here ;)
    in that context it requires a very small amount of time. one simply estimates tax liability based on what one earns and fill out deduction form accordingly. never ever deduct more than owe but cut it close to the bone and minimize your “return”.

  64. #64
    On November 23rd, 2008 at 4:41 pm, bansharia said:

    Bruce,
    that sounded very rude am I falling for a troll?

  65. #65
    On November 23rd, 2008 at 4:42 pm, bansharia said:

    hm clarification not falling for but should I not bother to respond to?

  66. #66
    On November 23rd, 2008 at 4:45 pm, bansharia said:

    too complicated am going to enjoy the Jets win, ta.
    Enjoy this day He has created.

  67. #67
    On November 23rd, 2008 at 6:08 pm, SpeakEasy said:

    Bruce, bite me. (I can get personal too)
    Your doom and gloom about abandoning the Republican party makes you sound like a liberal plant (both figuratively and mentally). If you really are a conservative and want to win, breaking up the party is the wrong tactic. Remember Ralph Nader’s effect on the Dems? The conservatives, true conservatives, have four years to regroup, define the platform, communicate with other like-minded Americans and work to regain power. Eeyores need not apply. The tax talk was frustration over being powerless to stop the current climate to give away my money without my consent or approval. If you have a better idea, I’m all ears. Personal attacks are counter-productive unless you have so little self-esteem that insulting others makes your day. Good luck with that.

  68. #68
    On November 23rd, 2008 at 6:14 pm, SpeakEasy said:

    Bansharia, Sorry was away for a bit. I understand your concept. I was trying for something a bit more direct but I fear that was removed from us a good deal ago. Frustrated! Thanks anyway.

    A shame the Titans lost. It is always fun to watch a run on the perfect season. I am old enough to have witnessed Miami’s perfect season and was a fan to boot being from Florida. I had to embrace the local team, Tampa Bay Bucs, when we got one. And spent a lot of years of frustration too. We might even squeak into the playoffs. I’m a Bucs fan- perpetual optimism is required.

  69. #69
    On November 23rd, 2008 at 8:28 pm, John Deaux said:

    Again with the “too big to fail” business. If this is the case, then we need to make sure that businesses aren’t allowed to get that big. I’d rather see Citi, AIG, or GM go under than have one penny of my tax dollars go to pay people that make more than I do yet can’t run a business.

  70. #70
    On November 23rd, 2008 at 10:11 pm, Papa Louie said:

    Bruce said:

    The time to abandon the GOP as a source of hope is NOW.

    Nothing will EVER change until Conservatives unite and fight together against the GOP and the DEMS.

    And what is it that is going to unite conservatives in your new Bruce Party? If you don’t have the support of a majority of Republicans, you will accomplish nothing except to fracture the conservative vote and make it easier for Democrats to win.

    If you do have majority support, then why not take back the Republican Party, replace the RINO leadership, and remake it as a conservative party? Why would you want to throw away the party of Lincoln and Reagan, with its storied history, to start a brand new party from scratch? Reform is much easier. Don’t sell your birthright for a bowl of porridge. Let’s unite to take back the party that is rightfully ours.

  71. #71
    On November 24th, 2008 at 5:49 pm, nlebou said:

    Speakeasy….my plan is to change my w-4 with my employer to married and oh lets say 10. That way nothing is taken from my paycheck and I keep it in my checking account that pays me 5% interest.

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