Fixing up school buildings for the wee kiddies is waste-fraud-abuse-communism-the-end-of-America. Making sure the assholes on Wall Street who did this to us get more money and keep their jobs is virtuous!
Can’t Bring Yourself to Type the Word “Ass”?
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But if we don’t give millions to the Wall Street folks, and let them keep millions in bonuses we could loose their ‘talent’…the talent that got everyone to buy hyper leveraged financial instruments (junk mortgages)that were essentially worthless. Yeah, we don’t want to loose those brilliant minds. That would be a shame.
What a moron. We have been closing schools and should be selling them off. Milwaukee is getting zillions in “stimulus” dollars for new school construction when they already have about a dozen schools sitting empty.
I’m not defending the Wall Streeters but this is just one more example of the “Stimulus” pork spending that is just another boondoggle.
One trillion dollars divided by the US population of 300 million could mean a refund check for $3,300 for every man, woman and child in the USA. That’s a $13,200 rebate for a family of four. Now that’s a fucking “stimulus”.
Don’t Streamline Their Gummint Services!!
Gov. Gregoire has proposed eliminating numerous boards and commissions, and closing 25 Department of Licensing offices. According to the fishwrapper,
“Rep. Mike Hope, R-Wenatchee, said …, ‘I found it fascinating that all of a sudden this was a huge revelation that we should do something to make government more responsive to business.’ However, Hope said he and other Republicans object to closing DOL offices because many of them serve rural areas the lawmakers represent. He said it is a ‘hardship’ to ask people to drive to larger cities for services.”
(Quoted under fair use.)
Roger Rabbit Commentary: Yeah right! Close the DOL offices in Seattle! Make the city slickers suffer! But don’t close our little offices out in the sticks! Don’t make us drive a few extra miles to get our mug shots taken to renew our licenses! Don’t inconvenience us! We want our gummint! We want our gummint! We want our gummint!
@2 Everyone knows WW2 ended the Depression. Which, btw, was gummint spending! Bigtime gummint spending! I can just see you numbskulls trying to win WW2 with tax cuts back in ’42.
Americans agree on one thing for sure, Republicans still suck.
http://www.gallup.com/poll/114.....Fight.aspx
If Pukes had run the war, they would have sold Hanford to Kaiser, demanded a volunteer military, sold Alaska back to Russia, and paid Rosie the Riveter 25 cents a day.
Pssst, John, you already made this post.
Rep. Hope’s rant exposes once and for all the Republican hypocrisy on public services: No state services for Seattle, but don’t cut ours!
5 – Have sucked for at least a century. They were responsible for the last depression and are responsible for this one now.
They were out of the mix for 40 years. I hope it’s at least 80 this time. Forever of course would be ideal.
Moron @ 7
The only “John” in this thread is the 425 fool and yes, he is a broken record.
Geithner makes the argument that heavy intervention tactics tried in other countries didn’t work out that great. I’ll give him the benefit of the doubt for now while I read up some more.
But for Krise sakes! Why can’t the government (and by extension the American people) get the same kind of deal that Warren Buffet and the freaking government of Qatar got for the banks they propped up?
Why can’t we be stakeholders? That doesn’t make sense to me.
@ 11
Why can’t we be stakeholders? That doesn’t make sense to me.
That might just happen under the “uniform stress test” of Geithner’s plan, though it would happen more along the lines of the way smaller bank failures are handled now. That would, actually, be a good thing, and can be done under existing law without much fuss.
While I don’t think spending for education falls under any definition of an emergency stimulus package, I do agree that we should not be rewarding the executives who helped bring about this mess. If anything, I would like to see Obama and Congress do whatever they can to cap executive compensation, get these crooks out of their jobs, and put them in prison where they belong.
@10
I refuse to use the more pretentious “Jon.” I strongly suspect he was named John, but wanted to seem more unique by spelling it Jon. I refuse to go along with his pretensions.
14 – In other words you’re at the very least being annoyingly presumptuous.
But based on most right wing behavior in these comment threads it’s highly probable you are projecting your own self-loathing on others.
By the way, financial stocks have hit the tank following Geithner’s announcement, which is actually a good sign. Any real resolution of the problem is going to require a proper valuation of the bad assets currently on bank balance sheets, and any proper valuation of the bad assets on bank balance sheets will cost the folks who own stocks in banks.
So in summary:
* nothing that holds accountable those that got us in this mess.
* nothing that actually fixes this
* all risk is transferred to the taxpayer (and not the investors)
How is this different than anything Paulson presented?
I do like the ability for judges to cramdown mortgages.
@ 17
Your summary isn’t accurate.
If you want to learn more about Paulson, I encourage you to read all about him on Dickipedia, A wiki of dicks. Yes, this is a real website.
http://www.dickipedia.org/dick.....ry_Paulson
So tell me how Timmy’s plan:
* protects the taxpayer
* exposes bankrupt institutions
* prosecutes those that got us into this mess via fraud or lack regulation enforcement
* brings trust and transparency to the financial system
This is a new version of TARP. It plays “hide the dead bank” with taxpayer dollars – our childrens and grandchildrens’ dollars.
Congress, Geithner, Bernanke, and their predecessors have abnegated responsibility as funeral directors. Rather than tagging the toes and bagging them (insolvent banks), they’ve collectively engineered “The Night of the Living Dead.”
21 EEEEEK! ZOMBIE BANKS!!!!
Just wait till the enlightened ones in DC get ahold of health care. Hope none of the older posters here get sick, cause the government will decide if you live or die. Fun huh.
@ 20
There’s an old poem that begins with “One bright day, in the middle of the night, two dead boys got up to fight.” If you demand mutually exclusive results, you’re not ever going to be satisfied.
Let’s take a different approach by asking, what has to happen here? Well, first and foremost, we have to resolve the liquidity crunch. Anything that doesn’t accomplish that end is pointless from the start, and all other considerations take a back seat that this one.
Why? Because if we don’t resolve the liquidity crunch, nothing else matters. Is there any point to protecting taxpayers if the result is a depression that makes the 1930’s look like a walk in the park?
We’d certainly like to see the folks who got us into this state have to suffer some consequences for what they did, but that, too, won’t make a lot of sense of doing so means we end up suffering even more severe consequences.
The question then turns to, how do we resolve the credit crunch? Well, the primary blockage is all this paper that the banks hold, and no one really knows what that paper is worth. The only way to know is to, somehow, create a market for that paper. That’s the combination Fed/private investor part of the plan, and, to that end, there really is no other way to deal with it. All other alternatives involve either the taxpayers soaking up all the losses or some form of cure that’s worse than the illness (e.g. allowing large banking institutions to completely fail).
The other interesting part of the plan is the means testing (so-called “stress test”) of bank solvency once the bad paper’s been valuated. This part is a bit short on detail, so it’s hard to know exactly how it will play out. I think Geithner’s angling form some flexibility on this (which isn’t bad in and of itself), but, as I pointed out above, one way this can play out is that some of the more insolvent banks will end up in receivership in a way similar to how the Resolution Trust Corporation currently works. This can be done now without any changes in existing law.
Lastly, the $50 billion dollars for direct mortgage assistance can both provide some direct relief to banks and individual homeowners as well as provide an additional basis for valuating some of the paper that lies at the heart of this liquidity crunch.
In short, this plan isn’t a Paulson redux. There are some significant differences, though, to be perfectly honest, we’ll have to wait and see how some of this plays out before we’ll know fully how sound the ideas are.
If the rabbit lives long enough to see the democrats dream of government healthcare become true he will surely die from the government deciding he’s too old to get healthcare.
It’s pretty well described here, with links to the “stimulus bill” and daschles book.
I know where headless lucy and byebyegoober are going to be spending their afternoon. Looking for dicks.
Much like how steve found this blog looking for horses asses.
ANOTHER bad day for the Marvin and his fellow GOP perverts. The US Senate passes the financial bailout bill while Publicans cry like the little cunts they are. What else can they do? They’ve been beaten. They’re nothing. They don’t count. Fuck em.
And that’s exactly what the democrats are doing to America.
It sounds like Marvin is depressed again. Hmm, I bet he followed Cynical’s investment advise and bought bank stocks during a financial sector meltdown. Smooth move, chump.
So why all the vitriol towards Republicans? All they want to do is shine the light of truth on this bad bill?
Gosh Marvin –
I thought Bush pretty well fucked over America about as good as it’s ever been fucked over before.
We’ve defeated nazi germany, imperial Japan the Soviets and countless other enemies without ever having to cave-in on little things like torturing prisoners and allowing our government to have a blank check when it comes to spying on American citizens. But since the Republicans are such chicken-shit panty-wastes, they give up basic American principals at the first sign of danger.
I could see Bush for exactly what he was during his “My Pet Goat” moment when America was being attacked. He’s a cowardly weakling bully that hides behind a false bravado and hopes that dolts like you are stupid enough to buy his never ending fear mongering.
So are you happy with where Bush left the country?
Sorry that you’re forced to deal with a leader that can actually form complete sentences. The adults are in charge now.
@ 30
If Republicans really want to “shine the light of truth,” then why do they lie so damn often?
No Marvin the verified child rapist – we’re going to fuck the GOP side of America – we’re gonna bury you traitors so deep you’ll be underneath whale shit. We’re going to take care of our own and there’s NOTHING (oh how happy this makes me) NOTHING a cunt like you can do about it. LOL!