1 Whatever, as soon as the bailout passed I knew that money was going to be wasted and given to political cronies. 

I am sure part of that $350 billion will come in useful for Obama and ACORN to make sure Florida and Ohio stay blue for the next 20 years.  And we get to pay for it! yippee

2 The people of the internet are going to be angry when they get to the journalism bailout. Hopefully some of that money will find its way to independent journalists like Michael Yon and Michael Totten.

3
So the Bush admin got bored with that whole executive branch thingy in 2005?

4 What the fuck is this, the real life version of "Brewster's Millions?!"

5 I doubt even Paulson could spend that much money in the next two months,

I know a few party animals that could blow it in one night...

6 So, has anyone invented warp drive yet? Hell, I'd even go into cryo-sleep in a sublight ship. I'm ready to get off this crazy train.

7

So when it doesn't work as advertised, the nutroots can't complain that it was because of Bush's Failed Policies^TM, since it'll be Obama's baby then. It seems almost as if Bush had planned to do this, instead of bumbling along. Good thing he's a moron.

8 nightwitch has a point. If you still think you have a country, please advise. The Langoliers (Langoliars?) are advancing.

9
We're trading in a bunch of country-club shit-for-brains baby-boomers for a bunch of leftist-academic know-it-all baby-boomers.

10 Meh.

Kinda hard to get worked up about it. Government grabs money to which it isn't entitled and which doesn't really exist except as an IOU for monies not yet collected, spends it recklessly or to cronies, and exacerbates the initial failure by throwing money rather than a) implementing real reform or b) just getting out of the way.

At this point, who cares who wastes it? It was a giant boondoggle before. It remains one now. Those responsible escape justice.

MEH!

11

What the fuck is this, the real life version of "Brewster's Millions?!"

Damnit - you beat me to it!

OTOH, this is happening in the same country that couldn't scrape together $10 billion to build the superconducting supercollider?  How frickin' sad is that.

12 Hey, now I can pay back George Soros and the Arabs! Thanks W!

13 roy at November 17, 2008 02:51 PM

That's what I'm thinking as well, Bush blows half the bailout on stupid ineffective shit and leaves the other half to the One to blow on even more ineffective stupid shit.
It kinda de-nuts that whole "look how Bush bungled the 700bil bailout" storyline.

14 It's slowly starting to sink in just how much the next two years are going to truly suck.....

If we get our shit together we can go a long way toward corralling things by taking back Congress in 2010. And if we do that, it's because Americans have gotten wiser and we've gotten our shit together in a Conservative way, not Democrat-lite, so I think we would be able to stop crap like bailouts and nannyism.

I'm seeing a repeat of the first Clinton administration, partly because I think it's the best we can do at this point.

The big question to me is how well we will ride out external threats until 2010.

15 It's official - I wish Kerry had won in 2004. Then we would have never had Obama. All Bush has done in the end is completely discredit the "Republican brand" and made it easy for even idiot public school kids to conclude that, like Bush, all Republicans are deer-in-the- headlights stupid.

16 Unicorns don't come cheap

17

Posted by: roy at November 17, 2008 02:51 PM (cB77O)

Everything's awesome!

18

Uncle Jimbo at Blackfive calling for Victory in Iraq Day Sat Nov 22 

http://tinyurl.com/5luxsv

19

Well, at least we got the 7 gajillion dollars approved before it was TOO LATE.

Had we waited to spend that 4 zillion dollars that we haven't spent yet, the sky would have squashed us.

20 Good. If the economy does not recover, Baracky gets atleast half the blame for bungling the bailout.

21 I'm broke, bail me out.

Oh wait... nevermind... O's going to pay my mortgage and utilities soon anyway. Someone else can use my share.

22 What do you mean by "idiot public school kids"?

Why is anyone even worried about the "republican brand" when it looks like we may have ruined the "American Brand"?

23 >>I know a few party animals that could blow it in one night...

I was talking to a friend the other day and talked about whether you could spend $1 billion in a week.

The caveats: you will not purchase assets. You should have nothing to show for the money after the week is over. No charity, or giving away money to anyone. You can throw parties. You can tip, but only in amounts that are generous, not outrageous. You can pay for sex, and maybe for a dozen friends to have sex too. But you will actually have to....um...consume the services. You can gamble, but you will also have to spend the winnings if any. You will not give the money to others to spend. You will spend it yourself. No overpaying for anything. If a bottle of booze costs 2000, you will pay 2000, not 200,000.

We concluded that it is not possible to spend a billion in a week.

24 Republicans are stooopid.

Democrats are corrupt.

25 Does anyone else get the feeling that Bush and the rest of the Washington insiders know a comet is going to kill us all by Christmas and nothing really matters?

26 Have any of you read the Soviet Union's constitution lately? It's really good. What about China? It's a good one, too. I've no doubt that Cambodia under Pol Pot had a constitution that guaranteed extensive human rights to its citizens. I guess I don't really have a point here. Reading that Bernanke, all by his lonesome, has loaned over $2 trillion taxpayer dollars to "private" companies and refuses to even divulge who they are, well, I guess it's just made me think about the fact that our written Constitution doesn't really guarantee any of us shit.

27 Bill Clinton is just green with envy over this, imagining how much fat- assed, barely legal, thong-wearin', pizza-deliverin', knob-gargling pussy he coulda bought with that much dough if only W's dad had been so generous with the taxpayer's money. 

28 Tushar,
i don't think (under those conditions) you could do it in a year.
1bil. = 2,739,726 per day. 24/7/365

29

O/T -

google news is showing stories about team obama vetting hillary by digging into bill's business dealings!

i shit you not.

30 A Weasel,

If you stretch it, maybe in a year. just rent the biggest jet, with a top-notch crew, travel a bit and keep the jet standby, and send another to Russia everyday to bring back a small tin of Fresh Beluga caviar. Something like that.

31 Potential recipients of the taxpayers bailout money - the good Rev. Wright, Fr. Phleger, ACORN, Hamas "peace" initiatives, Bill Ayers "educational" programs...what have I left out?

32

Adolfo:  They've all seen the trailer for 2012 and decided the Mayans were right.  FUCK IT!

33 "what have I left out?"

The Fortune 500?

34 I meant S&P 500. I love blaming Democrats as much as anybody, but I think it's important to note that the current "bailout" mess has been embraced by both parties. That's one of the things that makes me so suspicious of it.

35 #25 sums up how I am beginning to feel.  Sort of like Arthur Dent (Hitchhikers Guide).  That maybe there is a lot that we are not being told.

36 Tushar at November 17, 2008 03:34 PM
You're probably right, I've never really thought about spending money and having nothing to show for it.

37

Posted by: Tushar at November 17, 2008 03:18 PM (PTWes)

I believe that was the general premise of a movie Richard Pryor was in.  He needed to blow some large amount of money, in a certain amount of time in order to inherit an even larger sum of money.  He needed to basically be flat broke at the end of it.

38 $350,000,000,000 will buy a civilian defense force that's almost as well funded as the US military....

39

That $350 billion will surely help the incoming President buy a whole bunch of Marxist judges he will need after he fires every last semblance of Justice in America.

Lawyers ain't cheap, this is why 80% of American children end up in Law School, ther is Big Money in championing Rights for Big Brother.

40 Tushar - I could spent a billion in a week, easy. All I would have to do is buy scads of commodity, currency and equity options that I know will never materialize. A bunch of short options on oil at $10 a barrel would be a good start. Also, some long options on Google at $500 a share while I'm at it. Playing options contracts poorly is the surest way to deploy a ton of cash rapidly and have nothing to show for it at the end of it all. Ask Barings Bank if you don't believe me.

41 $350 billion? Hell, with that kind of money I'd buy an island and stay there for the next 4 years.

42 Bizarre. Imagine a scenario at your job, where you, as the CEO, tell your board of directors you need 700 billion immediately. They have an emergency vote, and somehow, find the money for you. Then, a few weeks later, you mention, in passing, that you don't need all the 700 billion, just half.  Is there any world where you don't get taken out to the woodshed and get spanked? Can someone take Bush out there, and then Paulson? They're both idiots.

43 "Does anyone else get the feeling that Bush and the rest of the Washington insiders know a comet is going to kill us all by Christmas and nothing really matters?"

Go read the comments at hot air under the Blogger Stocking Up On Ammo post. People are taking about raptures and survival movements. It might be a recession or it might be the apocalypse. Pick one.


Try and imagine you are Obama for a few minutes. At some point you thought "You know what. I think I could do a great job as the President." Then when you finally get there the people running the country give you a list:

1. We have no idea how to win the war in Afghanistan and it looks like it is going to spread into Pakistan. Pakistan has nukes and it is probably going to collapse.
2. It turns out the economy is worth about half of what we said it was. oops!
3. The people who run the major banks have perfected the art of risk management to the point where they have no idea what they are doing. We changed a law that allows the super efficient banks that implode to screw up and freeze the credit market also. To solve this problem we intend to give two trillion dollars to somebody. We might buy everyone a house also.
4. This list could go on for a while so instead of writing it we are just going to give you $350,000,000,000 dollars. Good luck, we are all moving to some undisclosed country in South America.

44 #40 sounds like Brewster's Millions.

45 #42 while I don't agree with the bailout, it was smart to ask for more than you need, so the market knows there is more than enough cash to "fix" the problem.  The problem, as always, in politics is the law of unintended consequences.  Now there is all this money to bail out left leaning organizations and governments that couldn't handle their finances correctly.

46 If we're gonna bail out the three remaining auto makers, then Goddammit I want a Studebaker. My grandad drove Studebakers and those cars rocked. So come on US congress, dig down in your my pockets and get another $10B or so and let's get Studebaker spooled up and back in to production. I'll be needing another vehicle in about 3 years and I expect that I'll be buying myself a brand new Studebaker. Or maybe a Rambler.

47 Thank you Rich Lowry.

Oh, and by the way.  According to economic historian Robert Higgs, the data suggests there was no crisis level credit crunch:

http://www.independent.org/blog/?p=502

We've been had, folks.

48 Some Dude,
I am a bit conflicted if this will fit my arbitrary rules. On one hand, you are investing gambling. On the other hand, you are making deliberate bets that have no chance of winning.  I am not talking about losing a billion in a week. That is easy. I am talking about spending it.

49 Give me a billion dollars and a week and I'll buy the legal talent necessary to keep the billion dollars.

50

well, W is just trying to build his legacy...all presidents worry about that stuff...it just so happens that George W Bush's legacy is named Barack H Obama.

51 Tushar, how is purchasing an option not a form of spending? Economically speaking, I am realizing utility from the use of the capital, in that I am "winning" at your hypo. Legally speaking, I am providing a counter party just consideration for their detriment, in the form of an option to purchase an asset at a future point in time.

52 "We've been had, folks."

What is the "independent institute"? Seriously. What the hell is that supposed to be?

53 Stock market fell another 220 points today. Yeah, I'm lovin' that the financial advisor bought s&p and Dow index funds last week. I'm an idiot for telling him it was ok. A big "thank you" to obamesiah for all of this. Asshat.

54 Good luck, we are all moving to some undisclosed country in South America.

Not such a bad idea, but South America is a bit too close and too crime infested. I was thinking more of an island somewhere in the South Pacific.  Please do not forward my mail.

55

How to spend a billion dollars in a week:

Step 1) Build a solid gold boat.

Step 2) Attempt to sail to greek island.

Step 3) After rescue, buy a greek island.

Step 4) Buy a blackmarket thermonuclear warhead

Step 5) Nuke island.

56

You could hire as many eskimos as there are, to capture every single living polar bear on the planet.

Then build a rocket and shoot them into the sun.

Then bribe the feds so they don't send you to jail for extinctifying the polar bear.

 

You could pay every chinese person $1 to jump up and down at the same time and see what happens.

57 Obama will need all that money if the price of tactical unicorns goes up ....

58 Dp you get an extra unicorn if you shave your head and lost money in the glorious Obama stock rally?

59 I hate to say it, but it's OK that Bush is giving Obama as much freedom to do his job as possible.  What Clinton did to Bush with Kyoto, etc. was despicable.  I know some have mentioned appointing special investigators that would cause the dems problems, but the nation decided (wrongly) to steer left, and for Bush to interfere would be wrong.

That Clinton is lauded, while basically refusing to transition power gracefully, and Bush is loathed, while giving power to his loathers in a cooperative way, says a lot about this country.  We've stopped caring about competence and being well informed.  It's all about fashion, basically.  We're probably going to be slapped hard in the face with reality, like we were with Carter.

60

I can't believe I got hoodwinked by the bailout alarmists.

Fuck.

Is this how people feel after buying a set of How to make $35,534 a Month while Working just 4 Hours per Week from Home CDs?

I'm spending the next 4 years at the Everything's Awesome blog.

61 So the Bush admin got bored with that whole executive branch thingy in 2005?

I've been wondering about that myself. Seems like he had some fight in him prior to 2004. At least you got to see the poker player every once in a while. After the election it was just like he gave up. The surge happened and that was good but there was so little leadership being shown that it almost feels like we've had no president at all.

I can imagine that all of the negative crap being thrown at him on a day to day basis could wear a person down, but this is ridiculous.

62 #60,

Why do you think you were hoodwinked? It looks like the alarmists kept the global economy from imploding and at the very least we will have better regulations so this does not happen again.

63 How to spend a billion in a week:
Rescue any fkd up African country with a small mercenary army. Food aid, logistics, fighting their shtbag army, deposing their dictator - about a week and about a billion if done right [meaning ruthlessly] I'm betting.

So, where would I wanna go? Zimbabwe.

64

56 You could pay every chinese person $1 to jump up and down at the same time and see what happens.

needed a good laugh before working out ... now that was funny ... and quite frankly in a "science fiction end of the earth" sort of way ... terrifying 

65 My husband and I want to move to Australia or New Zealand. Not sure how to go about that. I've been meaning to look into that whole emigration thing for weeks.

66

It looks like the alarmists kept the global economy from imploding and at the very least we will have better regulations so this does not happen again.

Dude, we can't even account for where that money went. They said they were buying toxic assets, then changed their minds. They said the most important thing  was to establish a price for these assets. But they didn't follow through. So how was the crisis averted?

No one knows what the plan is. Are they buying preferreds? Who gets money? How do you qualify? No one knows and the markets are tanking because of it.

Better regulations? What are they? Is mark to market being abolished? Are Freddie and Fannie going to be reformed? Is the federal goverment going to stop leaning on banks to loan to deadbeats who can't pay the money back?

 

 

67

sassypants at November 17, 2008 05:00 PM (Xb520)

don't let the door hit you in what I assume is a fat ass on your way out.

68 Just send $1000 to every man, woman, and child in the country.  We can bail ourselves out.

That isn't my ass, it's my wallet.

69 polynikes, I'll have you know I have a lovely ass, very tight and well-formed as a result of five dance and fitness classes each week. What do you do all day, asshole? Stare at the tv in awe of your Dear Leader on the couch?

70 GWB, give it back to the taxpayers!

W. has taken "no new taxes" to an oppressive level. Bribe the masses with a tax break that is actually 100:1 cover for more taxation and more federal powers and an untouchable Treasury Secretary Czar and NO WAY OUT. The only consistent feature about the Bush presidency is a rip off of laboring citizens in order to pad the high on the hog Ivy League corporate mismanagers.

CONSERVATIVE DISGUST WITH RNC, the Bush presidency and elected Republican officials matches Murdoch's disgust with "journalism" as news organizations have corrupted their own industry, losing their own base of support. THE PUBLIC is not as completely stupid as elitists would have, at least not yet. And the call to "reorganize according to founding principles" goes around.

"With newspapers cutting back and predictions of even worse times ahead, Rupert Murdoch said the profession may still have a bright future if it can shake free of reporters and editors who he said have forfeited the trust and loyalty of their readers."

71

Looks like Barrywon't be able to blame the bailout throwing away money woes that are to come on Bush. Not bad, giving him half the money to do things with. With it comes half the blame. No doubt Barry is shitting bricks now that he has to make some big descisions he can't weasel out of - even though we know the MSM is going to spend the next 4 years telling us how everything he put bailout money turned to gold, even while we are living on catfood!

 

72 OMG - they will fund every acorn and laraza cult they can create.  Say good by to free open elections. 

73 "72 OMG - they will fund every acorn and laraza cult they can create. Say good by to free open elections. "

Come on. It's just crazy to view this mess in exclusively partisan terms. Will Obambi funnel bailout money to his cronies? Of course. Does anyone believe for one second that Paulson and Bernanke aren't doing the same thing? The bailout mess transcends partisan squabbles--it's much bigger and more serious than that.

74

"Come on. It's just crazy to view this mess in exclusively partisan terms."

This is the internet. Someone farther up in the thread is blaming Obama because she is losing money in the stock market. Money she put in last week. It is probably a guy anyway.

75

@23 (Tushar)

I had the recent misfortune of playing face-up blackjack at a table with a guy who could *easily* lose 1 billion in a week.  Motherfucker would routinely stand on obviously losing hands.  Seriously, he'd have 12, the dealer would have 19, and he'd stand. 

When even the pit boss is politely suggesting that you're too dumb to play - and they legitimately feel bad about taking your money - losing a billion isn't a challenge.

76

Seems like the elites just want to re-create South America.  A small, super-rich group at the top, and a bunch of filthy peasants below, with naught but the army and well-paid paramilitaries separating them.

Working wonderfully, it appears.

77

Okay, I love Bush for his fight against Islamic terrorism, and his steadfastness in Iraq. 

But why doesn't he get on the news and pressure Congress to repeal the remaining half of the authorization????

It's not everybody who can save $350 BILLION in spending.

78 Not gonna use it?!? GIVE IT BACK.

Make Capt. N00b steal it for his own self.

79 What's $350,000,000,000 x 0?

Barack won't have jack to spend when the dollar is worthless, so don't worry. 

Face it we're fucked.  The world has changed it just hasn't caught up with us yet.  Adjust your expectations waaaaaaaay down (like did I eat today and do I have a roof over my head), buy a gun, prepare for the riots. 

80 We concluded that it is not possible to spend a billion in a week.

Oh, I have an easy solution...put it in the UAW pension fund.

81 this is so fucking wrong on so many fucking levels

82

Does anyone else get the feeling that Bush and the rest of the Washington insiders know a comet is going to kill us all by Christmas and nothing really matters?

I  wonder as well

Also as far as giving up after 2005, maybe it was more like 2006 when the Rats took over all of congress.

83 Ugh...now not only do we have a President full of illuminati socialist plans, but now he has the funds to do so, at least for now.

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