2008-09-27

epic bail updated, again, and again


(Getty | Chip Somodevilla | Used Without Permission)

anything that comes out of the meatgrinder that is congress will be as worthless to remedy the problem as the credit derivative contracts themselves

i'd vote no on anything that comes out, it will cost more than you can imagine, won't fix the problem at hand, and cause more issues that will only need to be fixed later (see 9/11, iraq, katrina, etc)

and more on the bailout figure

http://www.crooksandliars.com/2008/09/27/john-amato-interviews-naomi-klein-about-the-next-shock-doctrine-the-wall-street-bailout-giveaway/

they pulled the $700,000,000,000 number out of their ass, it has no meaning

“It’s not based on any particular data point, we just wanted to choose a really large number.”

and more on the bailout in general

http://powerofnarrative.blogspot.com/2008/09/fucking-you-to-death-blackmail-5.html

for those with issues of the post title linked above, his words are less obscene than their actions, understand the difference of the two, and which affects you more

arthur's link from here:

http://www.chris-floyd.com/index2.php?option=com_content&task=view&id=1610&pop=1&page=0&Itemid=1

update

bean voted for it [and the 2nd time also]

i will be submitting my write-in declaration for IL-08 hopefully sometime this week

updated again

the ultimate deal killer from the bill:

Section 122. Increase in the Statutory Limit on the Public Debt.
Raises the debt ceiling from $10 trillion to $11.3 trillion.


http://www.house.gov/apps/list/press/financialsvcs_dem/eesabill_section-by-section.pdf

and again

Two weeks after persuading Congress to let it spend $700 billion to buy distressed securities tied to mortgages, the Bush administration has put that idea aside in favor of a new approach that would have the government inject capital directly into the nation’s banks — in effect, partially nationalizing the industry.

As recently as Sept. 23, senior officials had publicly derided proposals by Democrats to have the government take ownership stakes in banks.

The Treasury Department’s surprising turnaround on the issue of buying stock in banks, which has now become its primary focus, has raised questions about whether the administration squandered valuable time in trying to sell Congress on a plan that officials had failed to think through in advance.


http://www.nytimes.com/2008/10/12/business/12imf.html?hp

and yet again

Audit: Bailout Oversight Woefully Lacking
GAO Report Says There's No Way Of Knowing How Bailed Out Banks Are Spending Taxpayer Money
WASHINGTON, Dec. 2, 2008

no real need to read further

http://www.cbsnews.com/stories/2008/12/02/national/main4643882.shtml

just sit back and watch



2008-09-14

the poetry of d.h.rumsfeld

to adapt a phrase from an earlier little ditty

"It is unknowable how long the withdrawal will last. It could be decided on in six days, the logistics planned out in six weeks. I doubt we'll have troop in theatre after six months."

more here:

http://empireburlesquenow.blogspot.com/2008/07/disorderly-conduct-subverting.html

about this:

http://www.williampfaff.com/modules/news/article.php?storyid=326


2008-09-13

thru the wonders of the innnertubes (both of them), comes the 1st presidential debate, before it even happens even updated



from Richard

(to know who be whom, notice which candidate says "my friends")

and again, from Richard

"no politics, issues confuse people"



update

mccain, who wanted to cancel the debate, declared himself the winner before he even had it

http://voices.washingtonpost.com/thefix/2008/09/mccain_wins_debate.html