Secret Muslim.

Seems pretty apt. They're threatening to destroy themselves and take the economy with them if they don't pay out on the insurance that they shouldn't have been selling in the first place.

I've been saying since the wheels came off interbank lending that we're a nation being held at gunpoint, with the culprits threatening to kill the economy if we don't fork over huge sums of cash.

I'm so sorry that this clever and so very droll reporter, was bored by the President's speech. Did the President fail to provide tasty refreshments as he discussed the collapse of the worldwide economy? Bored reporter seems bored. Poor baby. Are there no missing white women? Why does poor, bored reporter get all these damned "economy" assignments? As if anybody cared. Whatever.

And people wonder why newspapers are dying ...

Apparently rolling your face across your keyboard can get you a job at the LA Times. Interesting.

St. Ronald of Reagan took his teleprompter everywhere, including the bathroom. It's a little known fact.

As a fan of economics, I would NOT want to be in their shoes right now. This is an unprecedented financial crisis and there is no handbook for this one.

I'm giving him 12 months to have a real plan formulated... He'll screw stuff up, he'll find some solutions. This is epically complicated and I can't imagine being in the crosshairs.

His analogy is correct, AIG THE a bomb in the room. If they went off, the whole system would've collapsed. The collateral damage would have been truly horrifying.

These unregulated counter-party deals were perhaps the most insane financial instruments ever invented.

Unfortunately, you'll have to brace yourselves for a LOT more money being thrown at a problem created by the Wizards of Wall Street.

We will survive. Our system will survive, although in a different form. Prepare for more taxes to pay off this ride, we have to pay for it somehow.

TFA: Then, he went pretty wonky about over-leveraging and the weakened housing market and we just thought, OK, fine, let's see if he can describe the mess in a way that makes sense and doesn't make people want to go to sleep.

I wish journalists wouldn't use 'wonky' describe public policy. Most people think it means shaky and untrustworthy when the author just meant detailed and technical. One is a real definition and it's not the one they used.

/wonky etymology

Occam's Chainsaw: I've been saying since the wheels came off interbank lending that we're a nation being held at gunpoint, with the culprits threatening to kill the economy if we don't fork over huge sums of cash.

Makes you wonder why a person who steals a ten thousand dollars from a bank, if caught, gets a few years in prison but a person who loses 10 billion dollars because of his faulty business model, we give him more money to burn. You would think there would be a sense behind this mess.

DarkSoulNoHope: Makes you wonder why a person who steals a ten thousand dollars from a bank, if caught, gets a few years in prison but a person who loses 10 billion dollars because of his faulty business model, we give him more money to burn. You would think there would be a sense behind this mess.

The guy who stole $10k didn't have an army of lobbyists and congresscritters on payroll, writing regulations and legislation in such a manner as to make it perfectly legal to stick a gun in a teller's face. Just a thought.

After the blatant LIES from the Lefty O-Machine to cover up the bailout fiasco he's really grasping at straws.

Butthurt III: Season of the B*tch.

NYZooMan: After the blatant LIES from the Lefty O-Machine to cover up the bailout fiasco he's really grasping at straws.



You always give me a reason to break that out. Bless you, sir.

We've always been at war with AIG.

Occam's Chainsaw: The guy who stole $10k didn't have an army of lobbyists and congresscritters on payroll, writing regulations and legislation in such a manner as to make it perfectly legal to stick a gun in a teller's face. Just a thought.

If the DOJ doesn't go after S&P, Moody's, and Fitch... THEN I'll be really pissed. A group of people who used a retarded mathematical model to give AAA ratings to crap bonds in order to swindle pension and retirement funds? It was legal, but there are internal emails showing they knew they were lying.

F*CK THEM.

Bucky Katt: St. Ronald of Reagan took his teleprompter everywhere, including the bathroom. It's a little known fact.

What I don't get about these whack jobs whining about his teleprompter was the fact they were supporting a walking sarcophagus who couldn't even read a teleprompter.

His "that's not change we can't believe in" along with that puke green background will be forever be embed in my memory as the moment McCain lost the presidency.

..and to think so many people voted for this idiot.

Lumpmoose: TFA: Then, he went pretty wonky about over-leveraging and the weakened housing market and we just thought, OK, fine, let's see if he can describe the mess in a way that makes sense and doesn't make people want to go to sleep.

I wish journalists wouldn't use 'wonky' describe public policy. Most people think it means shaky and untrustworthy when the author just meant detailed and technical. One is a real definition and it's not the one they used.

/wonky etymology

wait, don't they complain and call him an "empty suit" when he isn't being "wonky", but when he is they call him boring?

No conspiracy. It's right out in the open. This is Obama's reichstag fire, and in two years there will be no public property in the country.

Was it really that bad of an analogy? Is it not politically correct to use metaphors with suicide bombers?

AIG will probably have a worse effect on America than any single suicide bomber ever will

/9.11
//i know

RobertBruce: This is Obama's reichstag fire, and in two years there will be no public property in the country.

Who's your dealer? I need some of what you're smoking.

/Medical reasons.

RobertBruce: No conspiracy. It's right out in the open. This is Obama's reichstag fire, and in two years there will be no public property in the country.

When this doesn't happen and life is more or less the same, will you promise to never talk about political or economic issues ever again?

NewportBarGuy: If the DOJ doesn't go after S&P, Moody's, and Fitch... THEN I'll be really pissed. A group of people who used a retarded mathematical model to give AAA ratings to crap bonds in order to swindle pension and retirement funds? It was legal, but there are internal emails showing they knew they were lying.

F*CK THEM.

I'm pretty sure you and I have been on the same page since day 1 regarding the ratings firms. They were supposed to be an early indicator, a pressure release valve if you will, that gave investors enough warning to move capital away from bad investments before shiat got to apocalypse levels. They made very good money by intentionally stamping a seal of approval on utter turds, and in the process they exposed countless people and trillions of dollars to blatantly obvious risk. They head the list of "Who here deserves to swing?"

7of7 [TotalFark] Quote 2009-03-19 01:02:25 AM
Seems pretty apt. They're threatening to destroy themselves and take the economy with them if they don't pay out on the insurance that they shouldn't have been selling in the first place.


OK, so straight away it's clear that you don't know anything about who does what between banks, brokers and insurers.......

But to see Obama's analogy to a suicide bomber shows some much more serious mental problems....


Man, it must be getting harder by the day for the messiah's minions to defend him.....

but for the rest of us it's really fun to watch...

Wow... so... Subby... You got nothing, eh?

That sucks. Well... not really. It's kinda funny in that sad and pathetic "guy who just won't admit the south lost" kind of way. But not ha-ha funny.

bulldg4life: RobertBruce: No conspiracy. It's right out in the open. This is Obama's reichstag fire, and in two years there will be no public property in the country.

When this doesn't happen and life is more or less the same, will you promise to never talk about political or economic issues ever again?

It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

The question that we need to be asking, isn't which banks and which companies are going under thanks to the CDL debacle.

It's who's getting paid?

The money is going somewhere. It's not just disappearing. Folks are making a killing. And they're getting paid with our tax dollars--and not just ours, considering the position that so many European banking houses found themselves in.

Rather than look to the faceless other, it might be more helpful to put some faces on these folks, name some names, and maybe knock on a few doors to discuss the matter. Especially with the folks who not only designed these damn things--yes, I'm AM looking at AIG. Just a few names. Just maybe point a few folks in their direction. Not just the US, but I'm certain that there are more than a few Brits, Frenchmen, Germans, and Spaniards who'd like to talk to them.

When Dubai begins to recover, I think we'll have our answer. They start building again, and Singapore and Hong Kong start reporting positive numbers to their banks, I think we'll have a fair idea where these folks are.

We have been swindled kids. And the sad thing is, I realized that the Iraq war was swindle. It was sweetheart contracts galore, but this mess of derivatives betting on failing mortgages, and the cascade of failures is a scam on a scale that I never imagined was possible.

So, you'll pardon me if I don't get too upset about the President realizing that we've been had, and using metaphor to convey only a whiff of the outrage that we should be feeling as a nation, if not a whole world.

NYZooMan


Goddamn, you're as dumb as a bag of hammers........

RobertBruce: It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

Eminent domain.

/I just facepalmed so hard I think I'm concussed.

Zomg! How dare the president use a metaphor comparing something which implodes, taking an economy with it to someone who explodes, taking a bus/marketplace/school classroom with him/her.

Is "He's not politically correct enough" such a good tack for the whargarblers to be taking after spending months complaining that he's too politically correct? There are valid criticisms of Obama. This non-issue is not one of them.

libbynomore2: but for the rest of us it's really fun to watch


You got that right. I have plenty of popcorn, and there's no shortage of straws. Please continue grasping :)

RobertBruce


If you can't be bothered to learn 5th grade punctuation and grammar, why should we even listen to anything you say?



/shouldn't

Occam's Chainsaw: RobertBruce: It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

Eminent domain.

/I just facepalmed so hard I think I'm concussed.

Already has a legal framework. This current BS is based on the fact that they don't deserve the bonus (which I agree, they don't.) But in the interest of 'fairness' why does someone deserve a 5,000 square foot house when the rest of the neighborhood has half of that? this is class warfare pure and simple, and this is one hell of a dangerous precedent.

Leishu: Is "He's not politically correct enough" such a good tack for the whargarblers to be taking after spending months complaining that he's too politically correct? There are valid criticisms of Obama. This non-issue is not one of them.

heh you think this is obstinate, check out the thread where Obama filled out the college ball bracket. The outrage I tell ya!

RobertBruce:
Already has a legal framework. This current BS is based on the fact that they don't deserve the bonus (which I agree, they don't.) But in the interest of 'fairness' why does someone deserve a 5,000 square foot house when the rest of the neighborhood has half of that? this is class warfare pure and simple, and this is one hell of a dangerous precedent.

Using class warfare as a strawman is class warfare too- you're just arguing that democracy is unable to participate in the class warfare. It's a stupid argument.

RobertBruce: When this doesn't happen and life is more or less the same, will you promise to never talk about political or economic issues ever again?

It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

So you are actually going to STFU about this, in other words.

Next week: scathing criticism of Obama's choice in tie color!

sloppy shoes: RobertBruce:
Already has a legal framework. This current BS is based on the fact that they don't deserve the bonus (which I agree, they don't.) But in the interest of 'fairness' why does someone deserve a 5,000 square foot house when the rest of the neighborhood has half of that? this is class warfare pure and simple, and this is one hell of a dangerous precedent.

Using class warfare as a strawman is class warfare too- you're just arguing that democracy is unable to participate in the class warfare. It's a stupid argument.

How is 'democracy' participating in class warfare? That's fairly ironic given that the one with the power to make things happen in this situation (geithner) is unelected...

Obama signed the bill that empowered The Federal reserve to bail out AIG.....in that bill was that ALL bonuses would be paid........he knew that this round of bonuses would paid out way back in September....

so what right does HE have to be upset.....

better question.......why aren't you Obama dupes not only not angry with him, but you just keep making excuses for him AND his boy Geitner ???????

" you're doing a great job Timmy "

RobertBruce: Occam's Chainsaw: RobertBruce: It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

Eminent domain.

/I just facepalmed so hard I think I'm concussed.

Already has a legal framework. This current BS is based on the fact that they don't deserve the bonus (which I agree, they don't.) But in the interest of 'fairness' why does someone deserve a 5,000 square foot house when the rest of the neighborhood has half of that? this is class warfare pure and simple, and this is one hell of a dangerous precedent.

I knew that there were people out there that were outraged over this whole AIG bonus situation. Outraged that we were attacking these rich folks who worked hard and earned this money.

libbynomore2

No one's buying your bullshiat anymore. Shut up and slink away.

So...does mean AIG is loaded with Freedom Fighters?

morrach: RobertBruce: Occam's Chainsaw: RobertBruce: It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

Eminent domain.

/I just facepalmed so hard I think I'm concussed.

Already has a legal framework. This current BS is based on the fact that they don't deserve the bonus (which I agree, they don't.) But in the interest of 'fairness' why does someone deserve a 5,000 square foot house when the rest of the neighborhood has half of that? this is class warfare pure and simple, and this is one hell of a dangerous precedent.

I knew that there were people out there that were outraged over this whole AIG bonus situation. Outraged that we were attacking these rich folks who worked hard and earned this money.

I'm less upset about the details than the precedent. If the government wants to start forcing breaks in private contracts, do it in court the "normal way" and they need to "show their work" as to the legality of it.

RobertBruce: bulldg4life: RobertBruce: No conspiracy. It's right out in the open. This is Obama's reichstag fire, and in two years there will be no public property in the country.

When this doesn't happen and life is more or less the same, will you promise to never talk about political or economic issues ever again?

It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

The AIG position is defensive at this point. Their products created a collapse of financial systems, and runs on banks to actually pay this crap off, and then the devalued garbage was frozen, leaving even more money just evaporated.

They need to be, because it's larger than these idiotic contracts rewarding the Dynamite Monkeys. AIG execs are looking at not just the US but every damn civilized nation coming after them potentially. AIGFS knew that it could potentially break not just one bank, but a fark ton of them. And their own company as well. They had to know--since they were betting so damn heavy on it.

They just didn't give a fark. And you're worried about the feelings of these asshats? Warren Buffett called these things weapons of mass financial destruction. And they are--these derivative products are funneling HUGE amounts of money to some folks, and it's only a matter of time before we are going to see some subpeonas to find out where.

And therein lies the rub. Since AIGFS was allowed to go offshore, we can't even go after the funds with a RICO statutes. Oops.

And we're still waiting for the hedge fund shoe to drop as the OTHER collateralized debt products based on student loans, car loans, and credit card debt are still ticking like wee bombs.

We are looking at a manipulation of the markets on a scale I never thought possible, and it's not just the US that is in trouble here, but damn near every nation that has anything looking like a working financial system.

And you want to worry about the "liberal" media spin on this?

If the "Liberal" media got a hold of this and actually ran with it properly, there would be more than just blood in the streets here, but across the globe, because that's the scale of this con job.

SeismicJizzer: Leishu: Is "He's not politically correct enough" such a good tack for the whargarblers to be taking after spending months complaining that he's too politically correct? There are valid criticisms of Obama. This non-issue is not one of them.

heh you think this is obstinate, check out the thread where Obama filled out the college ball bracket. The outrage I tell ya!

I disapprove of the mingling of sports and politics.

hubiestubert: RobertBruce: bulldg4life: RobertBruce: No conspiracy. It's right out in the open. This is Obama's reichstag fire, and in two years there will be no public property in the country.

When this doesn't happen and life is more or less the same, will you promise to never talk about political or economic issues ever again?

It's already happening. If one sort of private contract can be voided by the government why not the one that says you own your house?

The AIG position is defensive at this point. Their products created a collapse of financial systems, and runs on banks to actually pay this crap off, and then the devalued garbage was frozen, leaving even more money just evaporated.

They need to be, because it's larger than these idiotic contracts rewarding the Dynamite Monkeys. AIG execs are looking at not just the US but every damn civilized nation coming after them potentially. AIGFS knew that it could potentially break not just one bank, but a fark ton of them. And their own company as well. They had to know--since they were betting so damn heavy on it.

They just didn't give a fark. And you're worried about the feelings of these asshats? Warren Buffett called these things weapons of mass financial destruction. And they are--these derivative products are funneling HUGE amounts of money to some folks, and it's only a matter of time before we are going to see some subpeonas to find out where.

And therein lies the rub. Since AIGFS was allowed to go offshore, we can't even go after the funds with a RICO statutes. Oops.

And we're still waiting for the hedge fund shoe to drop as the OTHER collateralized debt products based on student loans, car loans, and credit card debt are still ticking like wee bombs.

We are looking at a manipulation of the markets on a scale I never thought possible, and it's not just the US that is in trouble here, but damn near every nation that has anything looking like a working financial system.

And you want to worry about the "liberal" media spin on this?

If the "Liberal" media got a hold of this and actually ran with it properly, there would be more than just blood in the streets here, but across the globe, because that's the scale of this con job.

I agree with pretty much everything you just said. If these contracts weren't solidified last may then I agree that far more intervention should be possible and legal, and I also think it should be from here on out to prevent this sort of thing from happening again.

RobertBruce

You sound like those dumb farkers that said Clinton was going to come with his black helicopters and take all their guns away. You think if the government just ups and takes away AIG's bonuses, they would do the same to you?

If I were you, I'd be more worried about being in a car wreck or getting cancer -- you know, stuff that could actually happen to you.

NewportBarGuy: As a fan of economics, I would NOT want to be in their shoes right now. This is an unprecedented financial crisis and there is no handbook for this one.

I'm giving him 12 months to have a real plan formulated... He'll screw stuff up, he'll find some solutions. This is epically complicated and I can't imagine being in the crosshairs.

I think he's throwing stuff against the wall to see what sticks. And the reckless and irresponsible legislation that is being passed needs to have some time to work before we keep throwing more money at the problems. Bailouts aren't the best answer. They didn't work the first time, they're proving not to be working so swell now, and we are now hearing rumblings of another bailout.

While I can appreciate Obama wanting to get things done, he needs to understand that he has 4 years to do it. And the changes he wants to make need to be carefully thought out, well planned and implemented smoothly. It doesn't all have to be done in 2009.

You don't drive a used car that you know has engine problems off the lot and drive it at 120 mph all day.

So far the only thing he's done right, IMO, is today's news that he's going to have the fed invest in mortgages, hopefully getting the rate down to about 4%. This will put more money in the homeowners pockets which will give them more discretionary income to spend. This is what will stimulate the economy. This was a fantastic thing for him to announce, and the right thing to do.

ZOMG! Someone who really thinks Obama's agenda is bad for America and didn't vote for him is giving him praise and credit for doing something right!

His analogy is correct, AIG THE a bomb in the room. If they went off, the whole system would've collapsed. The collateral damage would have been truly horrifying.

These unregulated counter-party deals were perhaps the most insane financial instruments ever invented.

Unfortunately, Geithner's fingerprints are all over the AIG mess. And Obama's going to get burned on this one, too, because it's beginning to look like he knew (or should have known) about the bonuses long before he admitted to knowing about them. Obama, however, will throw Geithner out as soon as it's politically expedient, at which time, the new secretary of the treasury is going to be under strict instructions to not go digging into AIG. I think there are a lot of skeletons in this closet. Geithner is too connected to these Wall Street guys, and I'm fairly certain that there have been some amazing and tremendously shady backroom deals with lots of them.

Unfortunately, you'll have to brace yourselves for a LOT more money being thrown at a problem created by the Wizards of Wall Street. This is what scares me most. We don't have the money to throw at these problems.

We will survive. Our system will survive, although in a different form. Prepare for more taxes to pay off this ride, we have to pay for it somehow. I agree, but I don't think this is the change we bargained for or were promised.

hubiestubert: Warren Buffett called these things weapons of mass financial destruction.

The 'Oracle of Omaha' invested in Credit Default Swaps and lost $9 billion for his investors. Potential losses are $62 billion, if they go to zero.

Just sayin'.