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(Bloomberg)   Treasury regulators put together $306 billion rescue in all-night session fueled by Domino's pizza, so it should come as no surprise that they were willing to pay so much money for such toxic, foul-smelling crap   (bloomberg.com) divider line 75
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2578 clicks; posted to Main » on 25 Nov 2008 at 3:31 PM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-11-25 02:46:48 PM  
Where the FARK are they getting all these billions? I pay taxes and all, but not enough to cover this BS.
 
2008-11-25 03:13:43 PM  
CrankMyBlueSax

Where the FARK are they getting all these billions?


As you can read in innumerable fark threads, and even elsewhere, ten per cent of Americans pay ninety per cent of the taxes. Those are the ones that are considered rich, and who gripe about paying such an unfair share of the burden. Even though they are the ones directly benefiting from this bailout.

How sad for them.
 
2008-11-25 03:17:47 PM  
So we are allocating over a trillion dollars to help businesses that are "too big to fail"? This, while we spend millions a month in Iraq, our public school system is failing, there are starving children, cancer, yet we spend a trillion dollars on bailing out businesses that made poor decisions. farking eh!
 
2008-11-25 03:28:02 PM  
FTFA: As part of the bailout, Citigroup will cover the first $29 billion of pretax losses from the $306 billion, in addition to reserves it already set aside. The bank will accept 10 percent of any losses above that amount, with the government responsible for 90 percent.

No matter how many times I read that paragraph, I'm still in awe. WTF doesn't even begin to cover this.
 
2008-11-25 03:33:03 PM  
How is inflation formed?

Short term deflation followed by either high or hyper inflation? Fed hikes rates to 20% to compensate? WTF is the long-term plan here?

Mother of god this is retarded. At least capital infrastructure programs will create jobs, help construction sales and local economies where the projects are employing people. And, we get some shiny new bridge or something at the end of it.

WTF are we getting for this? 8% on the hope they can pay us back?

Eat. More. Pizza.
 
2008-11-25 03:33:28 PM  
CrankMyBlueSax: Where the FARK are they getting all these billions? I pay taxes and all, but not enough to cover this BS.

Deficit spending.
 
2008-11-25 03:38:50 PM  
Now the pizza industry is getting a bailout?

Where does it end?
 
2008-11-25 03:39:59 PM  
On Nov. 18, five days before he was forced to bail out Citigroup, Treasury Secretary Henry Paulson told Congress he was handing over to President-elect Barack Obama ``a significantly more stable banking system where the failure of a systemically relevant institution is no longer a pressing concern rattling the markets.''

Oh Henry, are you ever right?
 
2008-11-25 03:40:27 PM  
weblogs.newsday.com
 
2008-11-25 03:40:32 PM  
tricycleracer: Now the pizza industry is getting a bailout?

Where does it end?


gyro industry?
 
2008-11-25 03:41:35 PM  
The 306,000,000,000 - 306,000,000,000 - 306,000,000,000 deal?
 
2008-11-25 03:41:38 PM  
The purpose of this is to cause inflation

People are refusing to spend money and this is causing DEflation

This means money is worth more now than it was when the banks were borrowing it so their business model fails (and the government's)

Because of this the government has to spend money for us to drive the dollar down...

In theory, this will also drive home prices UP and save the housing crisis.

Ya ok, i believe this... every single government in the history of the world that has tried this has FAILED

Dont believe me? Read "Creature from Jekyll island" and cry
 
2008-11-25 03:41:59 PM  
oldebayer: As you can read in innumerable fark threads, and even elsewhere, ten per cent of Americans pay ninety per cent of the taxes. Those are the ones that are considered rich, and who gripe about paying such an unfair share of the burden. Even though they are the ones directly benefiting from this bailout.

How sad for them.


(* sigh *)

You're doing it, too. You're quoting an incomplete statistic in order to make some kind of point...

You state that 10 percent of the taxpayers are paying 90 percent of the taxes. By itself, that statistic doesn't mean anything. The other part of the statistic is: What percentage of the total income did those 10 percent of the taxpayers earn?
 
2008-11-25 03:43:34 PM  
Only crap can take the taste of crap out of your mouth.
 
2008-11-25 03:43:35 PM  
Well, some bailouts are a good thing - Chevrolet, for instance, was loaned bailout money back in the 1980's?, and paid it all back. If a business has a good chance of recovering within 5 years or so if it can get past the bump in the road, it won't hurt to lend it money to keep it going. I'm not so sanguine about some of those larger investment banks, however - looks to me like throwing hundreds of billions of dollars down a bottomless hole. Better to let the worst offenders collapse, while using the bailout money to shore up everyone else against the ripple effect. And the "economic stimulus" was tried and had very little effect, doing it again as soon as Obama takes over is the height of stupidity.

Just FYI, Iraq has been costing us about $40-50 billion a year, maybe a bit less now that things are winding down a bit. One round of bailout is like double the cost of the entire war.
 
2008-11-25 03:44:45 PM  
Domino's pizza rocks.
 
2008-11-25 03:44:47 PM  
I'm in a line of business that is probably, all things being equal, benefiting from the government passing out money like candy. That being said, I've got a sort of a morbid curiosity that wants to see them do absolutely nothing.

Anybody else feel like we are on a one way train to the 70s? But without the good stuff?
 
2008-11-25 03:45:31 PM  
i512.photobucket.com
 
2008-11-25 03:45:33 PM  
November 25, 2008

Dear (State, Local, Federal) Government:

PLEASE STOP SPENDING MY MONEY.

Kthnx,

Matt LeFande
 
2008-11-25 03:46:32 PM  
We get the pretax profits from the 306 Billion if they have a gain right? right?
 
2008-11-25 03:47:55 PM  
They decided to replace "mark-to-model" accounting with "rape-the-model" accounting.

So no reason to worry about the deficits!
 
2008-11-25 03:48:03 PM  
www.aperfectworld.org

Where's mine?
 
2008-11-25 03:48:16 PM  
We have too many mexican immigrants and too many houses no one wants to buy.

1. Offer to sell the houses to immigrants who can get together the downpayment.

2. Give citizenship to any immigrant who goes 10 years without missing a payment.

3. If they fail, repossess the house and try again.

Our inventory of houses gets cleared and we get hard working immigrants.
 
2008-11-25 03:49:29 PM  
Meanwhile, about 20 staffers were working at FDIC offices a block from the White House, subsisting on Domino's pizza for dinner at around 8 p.m. and working on the deal until about 11:30 p.m.


11:30PM is not "all-night". It's barely early afternoon in my book.
 
2008-11-25 03:50:05 PM  
Seriously though, is Domino's that bad? They just opened one in my town so I was thinking about checking it out.
 
2008-11-25 03:50:51 PM  
j0ndas: Well, some bailouts are a good thing - Chevrolet, for instance, was loaned bailout money back in the 1980's?, and paid it all back.

That was Chrysler, but that bailout gave us the K-car, and they the gov back from the profits made by selling K-cars to every government agency, that and they invented the Minivan. There are no new innovative vehicle that Detroit is coming up with and all three can't live off of the government vehicle contract, one of the big 3 will fall.
 
2008-11-25 03:52:09 PM  
fatal_exception: Seriously though, is Domino's that bad? They just opened one in my town so I was thinking about checking it out.

Yes
 
2008-11-25 03:53:33 PM  
But did it get there in 30 minutes or less?
 
2008-11-25 03:54:04 PM  
rytheran: fatal_exception: Seriously though, is Domino's that bad? They just opened one in my town so I was thinking about checking it out.

Yes



Their cinnastix with gooey jizz-like icing is to die for!
 
2008-11-25 03:54:26 PM  
Alright then, thanks.

I probably missed the point of the article but I at least I got something out of the thread.
 
2008-11-25 03:55:32 PM  
img407.imageshack.us
 
2008-11-25 03:55:51 PM  
I had purchased Citigroup calls for Jan 10 the previous day, so when they announced a deal, I made about 60% on that in one day.

It doesn't make up for my losses from my 401K, but it'll cover Christmas gifts for some folks this year.

In this market, long term calls are your friend.
 
2008-11-25 03:56:49 PM  
fatal_exception: Seriously though, is Domino's that bad? They just opened one in my town so I was thinking about checking it out.

Their pizza is cardboard crap, but they have good hot wings.
 
2008-11-25 03:57:47 PM  
jonasborg: So we are allocating over a trillion dollars to help businesses that are "too big to fail"? This, while we spend millions a month in Iraq, our public school system is failing, there are starving children, cancer, yet we spend a trillion dollars on bailing out businesses that made poor decisions. farking eh!

10 billion a month in Iraq is what i've heard.
 
2008-11-25 04:00:16 PM  
You think the government is going to let these mortgage backed securities fail? Dollars to donuts your mortgage payments are eventually going to be under the oversight of an IRS like government entity, except that if you cant come up with the money, they will 'provide' you with a means of working your debt off. This seems like a fast track back to indentured servitude and a debtors jail.
 
2008-11-25 04:01:17 PM  
Yeah. They worry about deflation now. But wtf do they think will happen due to all the money they print to pay for this crap?

And sure, the banks have crappy liquidity. Why? Because there are too many of them, they multiplied when it was easy to run banks as house prices and other stuff were rising continuously. So let some of the die and have the people in them go work with something more useful instead. That would improve the health of the remaining ones.

And you know what you shouldn't do to make people put more money in bank accounts? Print cr4ploads of green paper that dilute the value of peoples bank accounts, that's what.

It is amazing to hear all praise for the swift actions of different governments to this crisis. They have only worsened everything. We're gonna be stuck with this for a long time.
 
2008-11-25 04:02:40 PM  
NewportBarGuy: How is inflation formed?

We need do way instain treasry who kill there economy, because the economy cant fricht back.
 
2008-11-25 04:03:47 PM  
thefaust.files.wordpress.com
/hot ('n ready) linked
 
2008-11-25 04:04:55 PM  
Dedmon: 10 billion a month in Iraq is what i've heard.

Those numbers look like a deal now compared to what AIG, Citi, Detroit, and all the rest want.

At least in Iraq, some money will build some wells, infrastructure and other things for the communities there.
 
2008-11-25 04:06:00 PM  
Hagbardr: We need do way instain treasry who kill there economy, because the economy cant fricht back.

Please tell me you are typing that on a mobile device during a tornado.
 
2008-11-25 04:06:26 PM  
Hagbardr: We need do way instain treasry who kill there economy, because the economy cant fricht back.

I'm so glad someone got that.
 
2008-11-25 04:08:20 PM  
Hagbardr: We need do way instain treasry who kill there economy, because the economy cant fricht back.

And this, my friends, is how babby is formed.
 
2008-11-25 04:12:46 PM  
Does dominos make anything good in comparison to that pizza hut chicken alfredo stuff?
 
2008-11-25 04:14:40 PM  
i191.photobucket.com

all-night session fueled by Domino's pizza

soma dis stuff too me think'n
 
2008-11-25 04:15:23 PM  
I have been boycotting Domino's for nearly 10 years.

When I was in college, an older, quiet guy w/ some emotional problems lived across the hall from me. He was receiving regular outpatient-treatment from a local psychiatric facility that he had been committed to in the past. He was nice and not a problem for anyone. One day he ordered Domino's delivery and when the delivery guy left, he called the cops on my neighbor "because he smelled pot" in his apartment. The cops came and notified him that this violated the terms of release from the mental institution and he would have to be re-committed to the hospital indefinitely. My neighbor could not deal with the idea and instead decided to commit suicide. I know my neighbor was far from perfect, but that nosey little Domino's narc needed to DIAF.

/also, Domino's pizza just plain sucks
 
2008-11-25 04:16:26 PM  
NewportBarGuy: Hagbardr: We need do way instain treasry who kill there economy, because the economy cant fricht back.

I'm so glad someone got that.


You wanna do me a favor and post that as a headline on TFD? Oh the fun that would be had.
 
2008-11-25 04:18:05 PM  
Off topic for article but on topic for headline:

A few years back I found myself at the Pizza Expo in Las Vegas watching the dough forming speed contest. There were all these guys from "Vinny's Pizza in New York", or "Paulie's Pizza in San Fransisco" - full-blooded Italian, fourth generation pizza artists that were born into the trade.

Then a dude from "Domino's Pizza in Newark" got up there. Just some overweight pasty white guy, wearing his blue polo shirt and all. He made the pizzas so fast the table he was using started to shake and move around. After he finished kicking everybody's ass he calmly walked off the stage and collected his prize money.
 
2008-11-25 04:19:38 PM  
lefande: PLEASE STOP SPENDING MY MONEY TO SAVE FAILING BUSINESSES.

FTFY

I figured you don't mind your taxes going for, you know, for the actual infrastructure stuff it's supposed to be going to.
 
2008-11-25 04:26:33 PM  
I'm a fan of whatever works without trashing our human rights Chinese-style. If it means the government nationalizing 40% of the economy so be it. If it means pulling the rug out and letting things tumble so be it. Anyone who will put their pre-conceived ideas ahead of the welfare of the American people is blind at best, a jerk at worst.

Problem is Obama won't take office until January so no one really has any incentive to come up with any ideas other than papering it over. How many freaking bailouts do we have these days?

1. the bailout that was signed into law
2. the Fannie/Freddie bailout
3. the AIG bailout
4. the Citi bailout
5. the credit card bailout
6. the mortgage-holder bailout

Did I miss anything?
 
2008-11-25 04:27:56 PM  
smitten_kitten: I have been boycotting Domino's for nearly 10 years.

I am truely sorry for your lots.

/Just staying on-thread
//And Yahoo! Answers deleted the thread (new window)! Those bastards!
///Aaand, I'm submitter
 
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