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(Big Picture)   The current bailout package is larger than the Marshall Plan, Louisiana Purchase, moon race, S&L crisis, Korean War, Vietnam War, Iraq War, and NASA. Combined   (ritholtz.com) divider line 225
    More: Dumbass  
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9768 clicks; posted to Main » on 26 Nov 2008 at 2:19 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-11-26 04:32:21 PM
legton: Come on, its only like 25,000$ per person. (math nerds out there, give me a break... estimate).

anywho, we are screwed. I blame women.

"oh I deserve a big new house now, oh I want a pretty new car, I need the new airwicks air freshener all over the house. our little precious angels need the best clothes, our little snowflakes are so smart even though they are dumb as rocks , we should send them to college for 20,000 a year who cares that they dont know what they want to study"


I blame men. You answer should have been - "no."
 
2008-11-26 04:32:23 PM
salvia: Little.Alex: The only people in Washington who tried to stop this insanity were the House Republicans. My Rep, Todd Platt, voted against it every time.

Mine, Mark Souder R IN voted for it. They Rs stopped it once, but gave in. That's why they all need to go. Start over!


Ok, but only if we get to kill them with fire.
 
2008-11-26 04:33:42 PM
Shwirv: I've had enough! I see all these jabs at Bush. How is this more Bush's fault than Congress's fault? Actually, how is this Bush's fault at all?

Some one explain this to me, please.


Horrific deficit spending by Bush has reduced our leverage to deal with crises.

Irresponsible deregulation on the part of the Republican Party in general but Bush more recently.

This is an issue that spans decades and the decisions of both parties. You can blame Democrats for the unfunded liabilities (although didn't Bush sign Medicare D?), and you can blame Reagan, Bush Sr., and Bush Jr. for the criminally lax regulation and criminally insane deficit spending that has put us on the path of de facto annexation by China.
 
2008-11-26 04:34:12 PM
yeah_right,
yeah cause that works
 
2008-11-26 04:35:36 PM
farm3.static.flickr.com

/first thing I thought of
 
2008-11-26 04:37:14 PM
Shwirv: I've had enough! I see all these jabs at Bush. How is this more Bush's fault than Congress's fault? Actually, how is this Bush's fault at all?

Some one explain this to me, please.


He's the CEO. When the company goes down in flames, do you blame the CEO for the VPs? Not to mention he's pissed off just about everyone in the country. Conservatives, like myself, that can't stand his liberal concessions or straight up liberal policy and Liberals that don't like the War, related policy, and other conservative policy.

Congress, multiple administrations (R & D), greedy retarded asshats, and lazy POS American's are all to blame.

/Thanksgiving is for Capitalist
 
2008-11-26 04:37:54 PM
baby_hewey: Hahaha, it is worse that most of you realize. Iceland is rioting over what there Governmentis doing. We will all end up with nothing and the rich will walk away with everything. The middle class will be poor in the next 5 years.

Welcome to the New World Order!


How come we aren't?

Oh that's right, tv. My bad.
 
2008-11-26 04:42:45 PM
Hat Madder: Steed Lankershim
$7 Trillion split evenly among 250 million US adults is $28,000 each. WHy don't they just do this? Now that's a stimulus package!

Because everyone would be expected to pay the $28k back. Unsecured loans are what caused the problem in the first place.


Because we know all those corporations are going to be paying back for those lapdances and bonuses.

/wait what?
 
2008-11-26 04:44:27 PM
LineNoise: Githerax:
Pragmatically conclude this will be the result. I know the government is nominally "investing" with "assured returns", but that's just stupid. The companies have already failed; therefore the logical extension of any further business is further failure.

And what basis do you say this on? Take for instance, AIG. Overall the company is sound, with many successful and highly profitable divisions. What hit them was a liquidity problem. While they had the assets to backup their bad investments, they would not be able to unload them fast enough or get a reasonable price if they did so, because nobody would be able to get the money to buy them. So the government steps in, injects liquidity, giving AIG the ability to correctly divest itself, preventing the company from kerploading. The government now holds signifigant shares in the company, allowing it to not only recoup the costs of its loan, but potentially turn a nice profit.

Yea its on paper, and yea it probably won't go down like that in all cases, but the point is, the term "bailout" is used wrong, and people's general ignorance on how, what, or why things are happening, and automatic hatred of companies and considering things handouts infuriates me.

Yea, its wrong to sport a company that has employed millions of people and generated billions upon billions of tax dollars over the better part of a century a few billion bucks for a year or two to prevent it from going down and taking half the economy with it, but its our civic duty to provide some farking dreg of society with free healthcare.


You already do. It's called public health care, and it's for the broke farkers. It's the rest of us middle class that don't quite make enough to get by (even with a two income household) but have to depend on (hopefully) getting health insurance from our employer because we can't afford it privately.
 
2008-11-26 04:44:53 PM
Nov. 24 (Bloomberg) -- A professor at the diplomatic academy of Russia's Ministry of Foreign Affairs said the U.S. will break into six parts because of the nation's financial crisis.

"The dollar isn't secured by anything," Igor Panarin said in an Interview transcribed by Russian newspaper Izvestia today. "The country's foreign debt has grown like an avalanche; this is a pyramid, which has to collapse."

"Dissatisfaction is growing, and it is only being held back at the moment by the elections, and the hope" that President- elect Barak Obama "can work miracles," he said. "But when spring comes, it will be clear that there are no miracles."

The U.S. will fracture into six parts: the Pacific coast; the South; Texas; the Atlantic coast, central states and the northern states.



How will this affect the NFL playoffs?
 
2008-11-26 04:47:17 PM
Shwirv: I've had enough! I see all these jabs at Bush. How is this more Bush's fault than Congress's fault? Actually, how is this Bush's fault at all?

Some one explain this to me, please.

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie
by Kenneth R. Harney

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.
...
Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."

Pressed for details on "equity assurance" by RealtyTimes, Freddie Mac vice president Craig S. Nickerson said the idea is still at an embryonic stage, but might involve limited guarantees or insurance coverage to protect buyers from the possibility of loss of their initial equity stakes should property values in their neighborhoods decline.



I've got dozens more links like this one. This one is 100% on Bush, he deliberately created this mess and the fact the bill is coming due just as he's about to slip out the door really should have tipped you off.

The root cause of this was, ironically, race-hustling, or "community organizing", the only difference between Obama's community organizing and Bush's is that Bush actually accomplished something: a large increase in minority home ownership, at a cost to taxpayers of a trillion bucks, which I guess makes George W. Bush the most "successful" community organizer in history.
 
2008-11-26 04:54:25 PM
Delay: The bailout is be cheap compared to the unfunded health-care obligations.

Unless something is done to decrease health-care costs, and that does not mean by providing universal insurance, that means cutting doctor's salaries, administation overhead etc. all wealth will be transferred to the health-care industry by 2050.


You can't brain today. You've got the dumb. Universal insurance is compatible with those solutions, and others.
 
2008-11-26 04:54:32 PM
EliteAnalyst: I don't understand how Americans can put up with this without so much as a single person picketing the Capitol. Don't you guys have like a billion firearms that the government is ascared of?

I can understand, say, Canadians rolling over for the gubmint, but Americans? What happened to you, man? You used to be hardcore.


They are a nation of pussies. The government isn't too far off from being able to shot one of them in the head for talking back, while the others don't even budge while channel surfing for American Idol.

Will likely go down in history as the biggest embarassment and the de facto example of why you cannot let your nation become complacent.
 
2008-11-26 04:56:12 PM
mikaloyd: I want rampant inflation so my monthly house payment is the equivalent of a cup of coffee.

Print some money. Make it happen.


I was just thinking that. lol.
 
2008-11-26 04:56:37 PM
i361.photobucket.com


Q: What's the best way to rob a bank?
A: OWN ONE.

THIS IS THE BIGGEST MOTHER farkING BANK ROBBERY IN WORLD HISTORY.

/and it is all 'legal', right?
//just kickin' the can down the road for the kiddies to deal with, right GRAMPS?
 
2008-11-26 05:01:16 PM
EliteAnalyst: I've got dozens more links like this one. This one is 100% on Bush, he deliberately created this mess and the fact the bill is coming due just as he's about to slip out the door really should have tipped you off.


Don't forget Libs hands are covered with mud too.
http://online.wsj.com/article/SB122091796187012529.html?mod=googlenews_wsj
 
2008-11-26 05:03:40 PM
EliteAnalyst: I've got dozens more links like this one. This one is 100% on Bush, he deliberately created this mess and the fact the bill is coming due just as he's about to slip out the door really should have tipped you off.

I blame liberalism. Bush enacted a liberal policy.

It was a policy that assumed that banks were not lending to certain people because of institutional racism. There was also the theory that home ownership could transform people on the low end of the totem pole. Not so. Choosing hopeful thinking (liberalism) over sound business practices was government meddling in the free market.

Anyway, we were been riding the credit bubble way before Bush took office.
 
2008-11-26 05:08:08 PM
GoodasGold: I blame liberalism. Bush enacted a liberal policy.

Lump Reagan and Bush Sr. into that category and you'd be approaching accuracy.

GoodasGold: It was a policy that assumed that banks were not lending to certain people because of institutional racism. There was also the theory that home ownership could transform people on the low end of the totem pole. Not so. Choosing hopeful thinking (liberalism) over sound business practices was government meddling in the free market.

That's flat-out not true. The CRA didn't help things, by any measure, but the entities that crashed weren't bound by its requirements. The real culprits here are the Gramm-Leach-Bliley act, (a conservative piece of deregulation written by Republicans and signed by a Democrat) and the fact that mortgage derivatives were being traded with no regulation. The problem here is a lack of regulation, and no economist worth his salt will disagree with that.
 
2008-11-26 05:14:09 PM
EliteAnalyst: I don't understand how Americans can put up with this without so much as a single person picketing the Capitol. Don't you guys have like a billion firearms that the government is ascared of?

I can understand, say, Canadians rolling over for the gubmint, but Americans? What happened to you, man? You used to be hardcore.


because this saves the retirements of the baby boomers, who are both numerous and powerful.

but, at a more populist level, so many americans are in the situation where they have too much debt - credit card debt, mortgages they can't afford, etc, they are just as culpable. At a lower level. why blame a company, when you would take a bailout if it was offered to you?

I would like to see a company stand up, have some self respect, and say bailout? Bailout? I don't need your stinking bailouts. I can work my out of this on my own.
 
2008-11-26 05:18:20 PM
Ideologies are not hats that one dons at a whim, they are badges one earns via one's actions, and based on his actions over the past 8 years Bush is arguably the most liberal President in history. His presidency is a failure for liberalism, not conservatism or capitalism.
 
2008-11-26 05:18:33 PM
DeltaXi65: that may be the value of the assets that the government is guaranteeing, but that's not the price tag.

The assets being guaranteed are utter shiat, and are easily worth 10% of their face value. So cut it's only 7 trillion, after all.

The humongous national debt will have TRIPLED in the last 8 years. It will never be repaid, so I guess it doesn't matter...at least until the inflation hits when they can't borrow more.
 
2008-11-26 05:21:31 PM
PrinceofFark: EliteAnalyst: I don't understand how Americans can put up with this without so much as a single person picketing the Capitol. Don't you guys have like a billion firearms that the government is ascared of?

I can understand, say, Canadians rolling over for the gubmint, but Americans? What happened to you, man? You used to be hardcore.

They are a nation of pussies. The government isn't too far off from being able to shot one of them in the head for talking back, while the others don't even budge while channel surfing for American Idol.

Will likely go down in history as the biggest embarassment and the de facto example of why you cannot let your nation become complacent.


Alas, you're probably right...
 
2008-11-26 05:22:11 PM
liberals: Tax and spend
conservatives: Don't tax and don't spend
republicans: spend like a son of a biatch and charge it to china, hope everyone forgets about it
 
2008-11-26 05:23:20 PM
GaryPDX: Paul "Oil for Food debacle" Volcker. Yippeee!!!


i was wondering where i remember that name from. It sounded so familiar. Oh God. although truth be told, i'd take another Oil for Food scandal over an $8 Trill bailout any year. By comparison, it is harmless.
 
2008-11-26 05:28:11 PM
danwiseman: liberals: Tax and spend
conservatives: Don't tax and don't spend
republicans:
Don't tax, spend like a son of a biatch and charge it to china, hope everyone forgets about it blame the spending on someone else, make sure the spending goes to oil rich CEOs, defense contractors or wall street CEOs. the ones who need it.
 
2008-11-26 05:29:24 PM
LineNoise: Its not costing 7.7 Trillion. If it works, it will not cost anything, and potentially turn a profit. Yea, wishful thinking and all, but the government is not handing out giant novelty sized checks to ceo's for hundreds of billions of dollars and saying, "hey guys, don't worry about it, its on us"

This is government. It will not work. It will not make money. It will cost more than advertised.
 
2008-11-26 05:36:37 PM
Senescent Dawn: That's flat-out not true. The CRA didn't help things, by any measure, but the entities that crashed weren't bound by its requirements. The real culprits here are the Gramm-Leach-Bliley act, (a conservative piece of deregulation written by Republicans and signed by a Democrat) and the fact that mortgage derivatives were being traded with no regulation. The problem here is a lack of regulation, and no economist worth his salt will disagree with that

I'm just saying perhaps that pricked the bubble. The deregulation? I think the problem goes deeper than that.
 
2008-11-26 05:37:41 PM
$7.4 trillion dollars is a hefty amount of walking-around money, even for Futurama's Mom. Good thing she has robots to do the heavy lifting when she goes shopping for what-nots and gee-gaws.

Here's my bail-out plan:

Since the GDP of Canada is about $1.5 trillion, you take $1.5 trillion of the bail-out money and distribute it to Canadians. Canada shuts down for a year.

The work Canadians would have done is given to Americans who have lost their jobs, homes, etc., especially in the Northern states.

The Canadians take a year off. We all move to the United States for a year and spend the $1.5 trillion boosting the economies of the Sun Belt states.

At the end of the year, any Canadians who are out of money go home and start the country up again.

Result: full employment in the US (full unemployment in Canada, except maybe for some people who refuse the money or don't trust you with an empty country next door for a year).

Trillions get poured directly into consumption (nothing wasted on savings and investment), stimulating the economy directly and reviving the housing market.

During their year off, Canadians produce millions of tonnes less carbon because they don't have to heat their homes and cars during the winter, or air-condition during the summer.

Any Canadians who still have money left after a year of vacation in the US get to keep it.

If one in three Canadians decide not to go home, there will be enough Canadian illegals in the United states (12,000,000) to overwhelm the Mexican illegal population.

Or we could just take the State of Florida off of your hands.

I'll take my finder's fee (10%) in US dollars, please. After a year of the country doing absolutely nothing, it'll take the Canadian dollar a while to bounce back from zero.

Some of you may be wondering what happened to the other $6,000,000,000,000.

What indeed? What do you think is going to happen to it under the Bush/Obama plans?

How would you like to cut to the chase and just buy everybody in Mexico a new house, education, job, and car? Then the illegals could stay home and you'd actually NEED 12,000,000 Canadians to stay on after their vacations are over. Once the money runs out, some of them will surely be willing to make beds, serve breakfast, mow lawns, run a sound and conservative banking system, etc., rather than going back to face another Canadian winter.

And Canada will be able to import 12,000,000 New Canadians to replace its losses. That means that millions of people in miserable countries can move up to a Canadian lifestyle, while reducing poverty, ecological damage in the poor countries, etc.

I like my plan.

I think it is better than anything world leaders have come up with.

And I could really use that US$150 billion cheque.
 
2008-11-26 05:39:48 PM
What? How can the current bailout package be larger than the cost for the Iraq war? I thought the Iraq war was costing us TRILLIONS, EVERY DAY???
 
2008-11-26 05:40:54 PM
$7.7 trillion? Why, that'd keep the U.S. war machine going for...um...almost three years.

/Your righteous indignation at government waste: You're all doing it wrong.
//Cutting the DoD budget != spitting on soldiers
 
2008-11-26 05:48:54 PM
Masso: Ivo Shandor: Pocket Ninja: Their involvement in the moon race and with NASA may be less clear, but I think you see where I'm going with this.

Moon race: the idea came from French author Jules Verne (new window).

Nice.

NASA's former head honcho, Wernher von Braun, developed V2 rocket for the NAZI that was launched against the Allies from... You guessed it.


The V2's WERE our space program; most of them Plundered from France.
VonBraun wasn't the 'head honcho' -- he WAS the Development Program.
/I'm not saying we couldn't have done it without him - I'm saying we Wouldn't have, because we'd still be glowing to this day.

BTW, Pocket Ninja: Iraq War: France refused to help

The First Persian Gulf War, Jan-Feb 1991, was an armed conflict between Iraq and a coalition of 32 nations including the United States, Britain, Egypt, France, and Saudi Arabia
In 1993 the United States, France, and Britain launched several air and cruise-missile strikes against Iraq in response to provocations, including an alleged Iraqi plan to assassinate former President George H. W. Bush.
A December declaration by Iraq that it had no weapons of mass destruction was generally regarded as incomplete and uninformative, but by Jan., 2003, UN inspectors had found no evidence of forbidden weapons programs. Despite much international opposition, including increasingly rancorous objections from France, Germany, and Russia, the United States and Britain continued their military buildup in areas near Iraq, insisting that Iraq was hiding weapons of mass destruction.
http://www.infoplease.com/ce6/history/A0838511.html


The French have been Helping Euro-Americans since Before There Were U.S.-Americans.
//HAS ANYONE APOLOGIZED TO FRANCE FOR THE COMPLETE LACK OF WMD's IN IRAQ?
///I'm not saying that Parisians aren't rude, snotty, lazy shiats, but some Frogs are generous and some quite talented.
////target="_blank" &IDComment=46642657
 
2008-11-26 05:56:58 PM
Senescent Dawn: The CRA didn't help things, by any measure, but the entities that crashed weren't bound by its requirements. The real culprits here are the Gramm-Leach-Bliley act, (a conservative piece of deregulation written by Republicans and signed by a Democrat) and the fact that mortgage derivatives were being traded with no regulation. The problem here is a lack of regulation, and no economist worth his salt will disagree with that.

Gramm, ...Grammmmmm.
Where have I heard that name? Didn't he used to be a Democrat? Yes, I think so.
And didn't he, in 1992, also deregulate trading of petroleum and natural gas futures?

/I KNEW I'd heard that name somewhere!

//target="_blank" &IDComment=46647029
 
2008-11-26 06:04:41 PM
theMightyRegeya: $7.7 trillion? Why, that'd keep the U.S. war machine going for...um...almost three years.

Or build about 7700 throw-down Hospitals?
/God, we suck!

//Cutting the DoD budget != spitting on soldiers

Cutting the DoD budget = sending soldiers, sailors, airmen, & marines home. THAT would really piss-off a BUNCH of neo-cons, rednecks, and oil execs!
/I don't think Osama would like it much, either.

/target="_blank" &IDComment=46647767
 
2008-11-26 06:13:45 PM
legton: anywho, we are screwed. I blame women.

Yep, pretty much.
 
2008-11-26 06:18:51 PM
Sadsaque: Cutting the DoD budget = sending soldiers, sailors, airmen, & marines home. THAT would really piss-off a BUNCH of neo-cons, rednecks, and oil execs!
/I don't think Osama would like it much, either.


Actually, I'm thinking more like forcing contractors to compete, to get prices down into private-sector territory, amongst other things. Oh, and getting the hell out of Iraq, since we're there to fight insurgents, who are there because Americans are there...say, Canadians, aren't you glad you got involved in Afghanistan, only to have us abandon you for a simultaneous unwinnable war?

I guess my original point is that the answer to "how do we pay for this?" is to do what ANYONE has to do who gets in massive debt: Get your finances under control! If you have debt to pay off, you don't start by going to the mall and max out any credit cards you don't have maxed out yet; you say to yourself, "say, what can I do without until I pay my bills?" You just KNOW you'll have expenses that'll come up, and before it's all done you might end up having to take on some extra debt in the process, but simply saying, "huh, I'm in debt up to my eyeballs, so I better not replace the roof on my house," is not the smart way to get out of debt. Saying "huh, I'm in debt up to my eyeballs, and the roof is leaky, so I better forego steak and that new Desert Eagle until I get a new roof paid off" is better. Not having to fix the damn roof at all is the BEST answer, but sometimes that's not an option.

Seriously, guys; sometimes visiting these Intarweb sites makes me feel like I'm the only person on Earth with a lick of sense.
 
2008-11-26 06:19:34 PM
Don't you just love how over-inflated oil prices are evil, but over-inflated real estate is necessary to the point we must spend trillions to keep it that way?
Owning neither oil nor real estate, I don't see the farking difference.
 
2008-11-26 06:26:53 PM
That's a huge package.

(c'mon, folks)
 
2008-11-26 06:30:42 PM
www.global-air.com

(new window)
 
2008-11-26 06:37:46 PM
Interesting that the liberals who are constantly wailing about eeeeevil kkkorporations are now falling all over themselves to hand them billions of taxpayer dollars.

Actually, it's not all that interesting once you realize that for liberals, fomenting hatred of corporations is just another means to a big-government end. They don't really care about fighting corporate power so much as they care about enlarging goverment power.
 
2008-11-26 06:47:38 PM
Pocket Ninja: Marshall Plan: helped save France
Louisiana Purchase: bought land from France
S&L Crisis: caused by French-like thinking (new window)
Korean War: French battalion routed
Vietnam War: started by France
Iraq War: France refused to help

Their involvement in the moon race and with NASA may be less clear, but I think you see where I'm going with this.


I'm hoping the french connection at the end of this tunnel is the bankers and their families having a date with this little number:

theboldsoul.lisataylorhuff.com

hotlinked, because i'm an irresponsible, selfish, thoughtless prick. Kan I haz free munnyz now?
 
2008-11-26 07:08:39 PM
ya know the cheapest thing we could've done at this point is have paid neo nazis and arab terrorists and maybe a few rednecks to burn down half the real estate in June of 2007...

barring that forethought, just paying off everybody's loan by having the people in debt invest in gov't bonds

or starting the "slave" trade again, making anybody who got a mortgage or ran a mortgage company between '04 and '08 work for free for a year, and put an arbitrary value on that work (re: the cost of all the bad mortgages)
 
2008-11-26 07:48:26 PM
LineNoise: Its not costing 7.7 Trillion. If it works, it will not cost anything, and potentially turn a profit. Yea, wishful thinking and all, but the government is not handing out giant novelty sized checks to ceo's for hundreds of billions of dollars and saying, "hey guys, don't worry about it, its on us"

Absolutely not. Like all government programs, it achieves an illusion of net benefit by having obvious benefits and hidding or ignoring most of its costs.

Make no mistake, the idea that this money will come back is based on the assumption that it is being spent effectively and efficiently. But even now we can see that it is being wasted.

Ultimately the purpose of spending the money is to prevent an economic collapse, but that will happen anyway. And just when the US is trying to recover from the collapse, that's when the costs will really begin to bite.
 
2008-11-26 08:45:30 PM
Sadsaque: /target="_blank" &IDComment=46647767

What on earth is this?
 
2008-11-26 08:52:23 PM
7.7 trillion divided by 138 million tax payers (2007) would be $55,797.00 per person. End of poverty.
 
2008-11-26 08:52:36 PM
The realisation that this bailout is worth more than 7 trillion dollars occurs just before the India terrorist attacks. Coincidence?

/adjusts tinfoil hat
 
2008-11-26 09:10:33 PM
SNL Crisis? There's no way it could cost more than Belushi or Chris Farley's drug habit
 
2008-11-26 09:12:28 PM
salvia Quote 2008-11-26 04:37:14 PM
Shwirv: I've had enough! I see all these jabs at Bush. How is this more Bush's fault than Congress's fault? Actually, how is this Bush's fault at all?

Some one explain this to me, please.

He's the CEO. When the company goes down in flames, do you blame the CEO for the VPs? Not to mention he's pissed off just about everyone in the country. Conservatives, like myself, that can't stand his liberal concessions or straight up liberal policy and Liberals that don't like the War, related policy, and other conservative policy.

Congress, multiple administrations (R & D), greedy retarded asshats, and lazy POS American's are all to blame.


Except Obama, you are not allowed to blame Democrats for anything. You will be a racist if you do.
 
2008-11-26 09:13:25 PM
notmtwain:
For example, at this point, I still haven't seen any real examples of a credit default swap. All they can say is that it is complicated. It can't be so complicated that it can't be summarized in 100 words.


Credit Default swap is a contract that is sold in which the seller guarantees that she will pay the full amount of a debt should the security or the relevant part of the security which contains the debt is defaulted upon. The are STILL forbidden from regulation by law (passed in 2000). Anyone can purchase this contract, regardless of whether or not they actually own the security being covered by the debt. Which means, I secure your debt, then I pay someone less than what you paid me to secure the debt in case I actually have to up. There are approximately 60 Trillion dollars of CDS contracts out there that cover 5 Trillion in debt.
 
2008-11-26 09:24:58 PM
Neocons are conservative in the same way that my hairy man boobs belong on stage at a strip club.
 
2008-11-26 09:38:18 PM
Pretty soon, this will be daily life in America.

www.rumormillnews.com

Germany looked for a Messiah to get them out of their Weimar-era hyperinflationary hell-hole too.
 
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