Again:

Were you talking to me? I’m so confused with all these McCain shenanigans I have no sense of anything anymore.

I need a drink (I don’t drink often, I think I’ll start… better yet, buying a gun and putting it to my head is beginning to look like an act of mercy).

“It’s a trap“

Admiral Ackbar should run in 2016. If he can get past the residency requirements, that is.

If McCain helped fuck this up at the last minute (!), bad as that rescue “plan” was bound to be, then dammit, the Democrats MUST come back with some kind of FDR-on-steroids whoopass. 90% marginal tax rates on Eastern elites; public auction of CEO estates; stockades and whippings.

Cripes, I’m starting to channel William Jennings Bryan at this point.

Either the bastards really are on the ropes and need this bailout, or it’s all a giant wealth transfer scam.

CALL THE GOD-DAMNED BLUFF!

Why doesn’t Dodd talk to people like Galbriath instead?

A Bailout We Don’t Need

Now that all five big investment banks—Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley—have disappeared or morphed into regular banks, a question arises.

Is this bailout still necessary?

The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all the time. They’re called “loans.”

With banks, runs occur only when depositors panic, because they fear the loan book is bad. Deposit insurance takes care of that. So why not eliminate the pointless $100,000 cap on federal deposit insurance and go take inventory? If a bank is solvent, money market funds would flow in, eliminating the need to insure those separately. If it isn’t, the FDIC has the bridge bank facility to take care of that.

.........

Dump Dodd! Dems are too close to this Paulson Shit, Obama too! Damn Icarus!

Oh, happy October surprise everyone! Welcome to Rethuglican Vaudville!

And they stood there and watched him do it. They predicted he’d do it. They talked about what a phony set-up it was going to be. And they still run with the “McCain’s a Maverick Hero” headline anyway.

Spare me. Thanks to the repiggies, there hasn’t been one thing of substance about this entire election. It’s been a bunch of ratfucking and kids games of “I double dare you to call me a liar/racist/misogynist” bullshit. Not to mention a whole bunch of “I am rubber, while you, Sir, are glue”.....

Eeeesh!

I’m never going to be able to retire, right?

Re: Wachovia, it’s been distressed for a while now.

These retards have no idea what they are messing with. It’s not like you can fuck with these things. Once companies start defaulting on obligations they breach contracts which causes other companies to breach and default, etc, etc. You cannot get the Genie back in the bottle.

I was finally getting to the point where I was pretty sure we needed the bailout and they pull this shit.

They have no idea what they are doing.

IIRC Lieberman voted to end the filibuster, which given the vote count on the bill itself was just as bad.

Why am I not surprised to learn this? Thanks for the clarification.

That means: big fucking taxes on Wall Street, humiliation for banking CEOs, full equity positions for Uncle Sugar if tax money goes to a bank, etc. etc. etc.

Damn straight.

The idea that we might have trouble scraping up the money is nonsense. AFAICT a transaction tax on trades would raise more than $100B per year. Plenty to fund this sh*t.