Hyper Inflation coming to a nation near you!  My house will be paid off in weeks! oh and top it off with a fed loan and I'm all set.

Yeah, Buggy Whips Unlimited has it right... we should have told the UAW to wait until we rescued the UBWW first.

OT - did anyone else see the other turd that floated up to the top of the punch bowl, the one about Clenis being tapped to "hold" Hillary's Senate seat?  Oh no, we don't need another Kennedy, we need another fucking Clinton!

Jesus, bailing out the MSM with taxpayers' money and turning the Senate into the House of Lords.  What the fuck is next - the Fairness Doctine I suppose.

Seriously, are the Democrats TRYING to provoke an armed uprising?

This new year is not starting out well.

Awww shucks. What's a few more hundred million here or there?

By the way, Ace, I think you're onto something here. Have you considered reorganizing the HQ as a bank holding company?

Seriously, are the Democrats TRYING to provoke an armed uprising?

Ain't happening. Democrats don't know how a gun works.

I don't see this having any steam to get a bailout. They couldn't even muster public support for the auto industry. Plenty of newspapers around to do the same exact job of "reporting" if lots of them go out of business. The fact that the "media" that tells the people what is going on would be flat out a propaganda network if they got the bailout. Of that, there is no defending against. Sure, they are the propaganda of narccistic elect and Dems now but by getting a bailout, they can't even pretend to a single person that they are not in their back pockets, covering their dirty deeds and fuckups. I can see the immediate and loud comparison to the propaganda media of Stalin and Hitler. That is one thing they can't white wash or ignore if it were to come to pass

People are not accepting of this auto bullshit,peasants will storm the castle if they try it with any other business at all. Peoiple are gettingfed up with $ gping down the rat hole and being lied  to about it

looks like obama's gonna be linked to the HSU ponzi scheme as well.

http://tinyurl.com/6vhk7f

oops. forgot the cussing word count.

obama is a useless dumb cunt with oversize hippo ears and blue lips.

that is all.

Not even sworn in yet and there is more dirt piled up on him than any other president. You'd have better odds of winning the Powerball Jackpot than all this happening and him not being dirty to the core. By dirt, I mean actual dirt, not the whitewash "boys will be boys" the MSM pushes once they realize people are becoming aware despite their ignring the subject.

And the hits just keep coming

Govt. involvement in the U.S. press,  press working for a faction of the U.S govt.

Forgive me if I dont' see the difference, but thanks for the laugh and  the manufactured moral and ethics concern Mr. Nicastro.

"Let's make the bailouts like a fucking Gameshow. Last place gets a fucking pistol with one bullet for themselves....You feel that strongly, go for it. Your fucking company is so important that you want my cash, put your skull on the line. Maybe they could play from guillotines?"

You mean like Slaughter-rama?

http://tinyurl.com/7gxndl

#11

hell, it isn't even money, it's just digits on a computer screen, which to a politican means it's free, i guess

#40

that's some really good high-class sarcasm, bravo (finger clap)

these bailouts are poison for our economy, there is no way to stop market forces, it's been tried and failed, the markets will correct themselves sooner or later, the game the Gov. is playing right now is a losing game, all they have done is recklessly expanded the money supply in order to stop a market correction (housing bubble) it can't be stopped, home values will keep falling until ppl in general decide that the home they want to buy is a good deal, then ppl will start buying houses again, unfortunately the worthless money that the Gov. has injected in the system will adjust itself to the available goods and services, which means, at some point, prices on everything will rise and they will keep rising until an equalibirum is reached between the the supply of currency and the supply of goods and services, the catch is, you and I will be (hopefully) working the same jobs for the same pay, and this is why i would gladly put a bullet in the head of every pol. that voted for the bailouts (not that i ever would, but it's nice to dream)

oh- and fuckety fuck fuck.

Happy fucking New Year. I predict it will suck. The suckage will increase at an exponential rate after 1/20/09. This runaway suckage will eventually create a Black Hole of Suck.

"oh- and fuckety fuck fuck.

Happy fucking New Year. I predict it will suck. The suckage will increase at an exponential rate after 1/20/09. This runaway suckage will eventually create a Black Hole of Suck."

Oh well, at least we can look forward to 2012, the end of the Mayan calendar and the ushering in of our overlord C'htulu.

Speaking of black holes what's the status of that black hole machine over in Switzerland? I thought we were all supposed to be exponentially squeezed together and sipping margarita's inside of a singularity by now?

the current party leadership would love a guy like Huckaboob, stealth RINO that he is...

Blazer,

They turned on the super collider, and were just getting to the part where they smash atoms and create the runaway black hole that was going to devour our planet, when a couple of wires between two huge magnets melted and they shut the monster down. It'll be outta whack for months.

"Funny how that works."

What's really funny is how both parties get involved with businesses; but the ones Republicans support tend to be successful and don't need bailouts, while the ones Democrats support tank horribly and need them up the yin-yang. Granted, not always the case, but still...

"Blazer,

They turned on the super collider, and were just getting to the part where they smash atoms and create the runaway black hole that was going to devour our planet, when a couple of wires between two huge magnets melted and they shut the monster down. It'll be outta whack for months."

But yet on paper they claim that baby is safe and in no way would cause a calamity to the planet or mankind but yet can't prevent a couple of wires malfunctioning and blasting a whole in the tunnel and leaking precious amounts of super-cooled helium into the environment.

That thing is gonna be the butt-fucker of mankind, I know it.

Ace, all affection, but you're a fucking retard. No, seriously. Where, exactly, did you think bailout mania was going to lead when you were fiercely advocating it a few months ago?

Of course every industry under the sky is now going to claim their role in America/government/heaven is the most important played since Thomas Aquinas. It's what businesses will [i]do[/i] once they smell taxpayer dollars in the water.

But, oh no. Super conservatives like you and others had to tell us that X industry was super important and just had to be saved by trillions of our dollars. No, but for super serious.

This is the part of the story where bloggers are revealed for the retards they are. Where we realized "Wait a bit, you only pretend to know what the fuck is going on, but none of you really do."

The blogosphere is nice and all, but all of it lost credibility the very split second actual financial decisions had to be made. At this point, bloggers, right and left, are being exposed as the know-nothings they suspected themselves to be, but would never dare admit outside of humor.

Could you at least stop pretending you have clue one about financial bailout matters? You're a highly intelligent guy. It's why I read you. But you do not get this. Neither do most bloggers. But you and others continually pretend you do, and now here we are.

It's like an army of friggin Hoovers.

"Gee, the media want a bailout. Isn't that funny?!"

Funny? Are you kidding me? After the trillions you sucked cock to cover for? Are you serious?

Jesus H. Pretend with the integrity bit. For everyone's sanity.

I kind of apologize for my harsh tone, but I work in finance. Knowing what goes on with other peoples' money is my life. I've been watching all of this since July or so and ended up getting angrier and angrier because no one commenting seems to actually have even a passing acquaintance with how financial matters actually work.

I like you, Ace, I do. But this isn't a joke anymore. You and others shoved for this sort of thing. You allowed yourself to be panicked into paying for everything. And now, isn't it just ha ha funny.

No. It's not. It's really, really not. But it never stopped you from being an ignorant smart ass. Not that it's your fault. The entire blogosphere seemed like it could sarcasm its way out of being remotely serious about the clusterfuck that was about to hit.

Just, not useful, and a major hit in blogger credibilty.

One more, just to tide my anger. You can joke about some side story that sesms humorous.

But what you can't joke about, is how you and your co-bloggers (outside of the ever intelligent Gabe) agitated for a course of action and policy that was hilariously disasterous.

"The media wants bailout dollars. Funny, no?"

Yeah. Funny. This funny brought to you by the assholes who freaked out and begged for the trillions currently tanking our economy. But some obscure, pointless, unimportant newspapers want money! Ha ha ! Funny!

Funny! Brought to you by the internet peoples with no apparent stake in the economy.

Seriously. You should be on your knees begging for forgiveness for how horrifying wrong you were on these bailout issues. But you thin making a few posts about liberals wanting money will cover your ass. Nice.

Ok, now I hope I'm done. Sorry, but the cavalier attitude of various posts over the past few months have just pissed me off, and this is the breaking point. Newspapers want money! Like you had nothing to fucking do with it. Way to not recognize your own role in this shit.

As for the Republicans...I don't know what they are any more but I wish they'd hurry up and merge with the Democrats so we could create a real conservative party.

When are we gonna start a real conservative party?     I'm ready.......  I expect if we start something, the Repubs will look at the loss of donations, and tell us they are moving back to center (I know, if wishes were BMW's ...)

Susan Lee

I think Robbie is right.  I remember Ace claiming that it's too new, and he's not a native expert at this bailout shit, but he had good reliable inside knowledge, and this needed to happen.

I think that it would do Ace's credibility a lot of good to make a post that explains the whole thing, takes responsibility for jumping in the wrong direction, and then we move on forever.  And by explain the whole thing, I mean naming names of the people that he trusted to be 'expert' at this, so we can ignore those folks forever more if they start the same kind of bullshit again.  Sources that become unreliable are not worth while.  I for one, would like to know where that stuff comes from, and that Ace knows that he will not be fooled again by said people.

I have a serious man crush on this site.  First stop always, and it never fails to deliver a good message with high entertainment value and a true conservative flavor.  And the commentors here are by far the best I've ever seen.  Morons, take a bow.  And Happy new year and all of that fuckity fucking jolly good cheery stuff.

83,84,85 Robbie is right,ace was practically screaming at us morons who opposed the bailouts.He also said that opinion on this site was running 100-1 against the bailout but he was willing to lose readership over this because he felt so strongly about it.Don't believe me,go to the archives and see what I'm talking about.

I'm not trying to be a prick about this but if you did'nt see this coming(newspapers are just the next phase,it won't stop there)then I question your conservative credentials.Government(Repub or Dem)IS the fucking problem,but they are definatelly NOT the solution.There is no stopping this now.The sharks are in the water and they smell blood.

Repubs have no cover as thier asshole president is the one who started all this bailout shit.Dems love it because it allows them to rescue all thier big time donors,ie:unions,newspapers etc.,and point the finger at a Repub administration.

The inmates are running the asylum.

A poll done by a Hartford AM radio station shows that 90% are against this.

Dems love it because it allows them to rescue all thier big time donors,ie:unions,newspapers etc.,and point the finger at a Repub administration.

"Dems blah blah blah etc.,and point the finger at a Repub administration."

This is the Core Competency of the Democratic Party.  They don't really need Hope and Change - they've already arrived... what politicians have ever managed to blame their opponents for the weather?!.  Until the MSM is tits-up, they will only get better at it.

Google news search for "Frank Nicastro" = 23 results

Google news search for "Frank Nicastro Democrat" = 5 results

Breaking News: 1 January, 2009. Connecticut AP...............................

Local newspaper to recieve government bailout money.  Newpaper has changed its name to the "PRAVDA" film at eleven........

Plover,not asking for an apology.Don't think he owes one to anybody either.

"The manboobs assume that no bailout would have had a better result."

Well,first off,it would be a lot easier to tell all these other assholes who are lining up for a bailout to fuck off and die.But we did'nt do that.What we did is open the floodgates to an endless flow of "wheres my bailout,dude"as people realise that thier business is about to go belly-up.

I believe the whining is only beginning. After the big cities and inept state governments get thiers,the construction industries will be right behind.How do you let one industry die after you rescue the other one?Politicians will have too pick and choose,and we all know those fucking cowards will always take the easy way out.In other words ,we are fucked.

i had to search the ct gov website to find out who this douche nozzle is...state controlled media, gps tracking, mass indoctrination, crushing taxes and more and more limits on our on speech "rights"....fucking super.

2009 is going to be great.

I truly believe that no democracy can remain healthy without an equally healthy press," said Fiedler

I agree totally, but we haven't had a "healthy press" for thirty years.  Let Pinch and the rest get a dose of reality while the WSJ still does fine.

Whoever bails out the Times ought to have naming rights to Times Square, no?

"TARP Square" maybe?

And so the hate continues.  There is nothing awful with being wrong, we all do it.  It is perfectly understandable, especially in a time of fear and panic.  But all Ace and the other blogs have to do is put up a single post saying "Oops."  He was flatout wrong.  He keeps getting beat up because he keeps avoiding it and that reflects poorly on him. 

Really?  Prove it.  You have absolutely no idea what would have happened had not the US gov't along with the govt's of every other free market country stepped in to prevent the entire worldwide financial system from going down the drain.  None.  And yet you assert that Ace or anyone who advocated preventing disaster owes an apology?

It is amazing that some people still can't grasp that the financial industry is fundamentally different from any other industry such as the newspaper industry.  When a newspaper goes out of business it is a tragedy for the people who work for the paper.  When the financial system goes down, the country goes down and given our interdependent financial system, much of the world would have gone with it.  That's a recipe for poverty, famine and even war on an international scale.

While the risk of a total systemic financial meltdown has been reduced by the actions of the G-7 and other economies to backstop their financial systems, severe vulnerabilities remain

Nouriel Roubini is Professor of Economics at the Stern School of Business, New York University and Chairman of RGE Monitor

You think he might know just a little bit about economics?  Go read the whole article at Politico.  This site won't let me link it.

Look JackStraw, I've read a lot of your comments.  I like them.  I don't post much because I am neither as smart or as witty as most of the people here.  But that doesn't change the fact that you were wrong, and wrong when it really counted, when it was really important. 

And yet, you still offer no proof that the backstopping of the financial industry hasn't worked.  The point of the bailout wasn't to return the economy to a vibrant state of growth, it was to prevent a complete financial metldown.  By any measure, it has.  LIBOR has fallen back to somewhat normal ranges, bank lending is beginning to thaw slowly, credit is available albeit only to credit worthy people (shocking concept, that)...

If you go back and read all the treads on this topic I defy you to find one time when anyone, me included, said that we wouldn't be going into a deep recession. That was a given bailout or no bailout.  I also don't think you will find anyone who was enthusiastic about it, me included.  The only question was do we try to take steps to avoid a finacial catastrophe which nobody denied was months, maybe weeks away.  The leaders of every single G-7 country agree that something had to be tried. 

It's going to take time to recover from this recession.  We won't know for some time, maybe years, how effective the steps that Paulson and his team have been or what effect the remaining steps he might take will have.  People are still arguing over the steps that were taken during the Great Depression and how effective they were. I'm sure there are plenty of steps his team has taken that none of us will like.  I never claimed he was omnipotent or that everything would be perfect.

It's easy to say you were against the bailout.  In a perfect world, who wouldn't be?  But we don't live in a perfect world and if nothing had been done there is every reason to believe things would be much, much worse.than they are now.  We would have had major banks failures, the credit market would have disappeared altogether, buisnesses of all sizes that rely on credit to exist would have closed, house prices would have crashed further and harder than they have with no mortgage market and on and on.  And you would have seen government intervention on a scale that makes what has been done look trivial.  Is that what you wanted?  Because that's what would have happened had nothing been done and ignoring that is while asserting the bailout is a failure is silly.

You can keep asserting that I and others who advocated for the bailout of the financial system were wrong but it would help your case if you provided some facts, call them appeals to authority if you like.  But just claiming that the bailout was a failure without any evidence or considering the consequences of doing nothing is meaningless.

Next time think before you advocate for a command economy.

Perhaps you should do the same.  Or are you going to continue to ignore the very obvious fact that had the financial system collapsed, the federal government would have stepped in and completely taken over?  Or do you think someone would have magically pulled a new financial system out of their ass?  There would not have been a long run to destroy.  Do you get that?  What exactly do you think Obama, Pelosi, Reid, et al would have done with an opportunity to remake our economy, central planning style?  Don't be naive.

Who cares that more industries asked for a bailout?  They are constantly looking for funding, overtly or covertly, from the government.  That doesn't mean it should be given to them and if you have been reading this site you will know that I have never, not once, advocated the government giving bailout money to any other industry or institution.  By your logic, we should never advocate the government declaring war because that will mean we will go to war with everyone we don't like.  This was a crisis unlike any other and you can insist it wasn't but you are wrong.

If you truly are an old guy, then you know doubt remember the government bailing out the S&L industry a few years back.  Does the government run the S&L industry today?  No. Did the taxpayers make money on the investment? Yes.  Did it cause the end of the free market?  Not so much.

The Treasury put out a report yesterday detailing the steps that have been taken so far including the progress so far (you might be surprised to know that less than half of the money has actually reached the banks so far, a tad early to call it a failure, don't you think?  Kind of like Harry Reid calling the surge a failure before the troops even deployed) the warrants and other methods for taxpayer repayment ( you do realize the plan is for the money to be repaid and not just given away, right?) and the outlook going forward.  Maybe you should give it a read.

I don't like bailouts anymore than you.  I pay a shitload of taxes and that's not what I want my tax dollars spent on all things being equal.  But you know what I like less?  A collapse of the free market system with a far left president and a far left congress about to take over.  If anything, those of us who advocated for an investment in the financial industry were on the right side of less government intervention in the long run.  You're welcome.

Watching the Rose Bowl sponsored by Citi.  Yeah, how much of the bailout is going to produce this game?  Quick, anyone on USC, spell CAT. 

Also, you're missing the point of opposition to the bailout. Few argued that the bailout was certain to fail to prevent meltdown (although I and many others argued that the TARP wasn't addressing the right problems--FYI, Paulson apparently later agreed when he abandoned the original TARP plan).

Bullshit.  I was here for the same arguments you were. Many, many, MANY argued that the bailout would never work.  Perhaps you should read the report issued by the Treasury as well.  The focus of the bailout changed because the problem changed.  TARP was a compromise if you remember, originally Bush asked for what many disparingly called a blank check precisely because the problem was constantly mutating.  Paulson and Bernanke knew this and wanted flexibility but they were forced to write a specific plan by Congress in order to get the money.  They promptly went about doing what they thought was correct after getting the money.

It wasn't just Paulson's assertion, Gabe.  It was the opinion of virtually every serious economist around the world.  Do you not remember the emergency meeting of the G-7 to address this very problem on worldwide scale?  Do you think you know more than the economic leaders of the industrial world?  Really?  Well I don't. 

How the hell do you know taxpayers won't make money on the deal?  Read the report and see what we are getting for our investment.  The terms are better than any investor in the world could get.  There is an excellent chance that the investment will pay off nicely.

But the bigger issue that most of you anti-bailout hardliners never deal with is what is your plan?  What was the alternative?  Let's pretend for a second that you are wrong and the almost unanimous opinion of senior economist was correct and that baring intervention, we were headed for an almost unprecedented worldwide financial collapse.  How would you propose that gets fixed?  Do you think the federal government wouldn't have stepped in ways that would make your head spin?  Do you know what happened last time we had a depression of that scale?   There is only one entity large enough and wealthy enough to save the financial industry, the federal government.  The only choice was a bailout before the collapse or governemnt takover after the collapse.  Tell me again how your way leads to less government intervention and a lower cost to the taxpayer?

I will repeat, I don't know anyone who was enthusiastic about this bailout.  I wasn't enthusiastic about it.  But I supported it because doing nothing was tantamount to ruining our entire economy along with much of the free world and would have led to massive government intervention.  You can pretend this wouldn't have been the case but history is against you.

C'mon Conservatives: "WE'RE MAD AS HELL AND WE'RE NOT

GOING TO TAKE IT ANYMORE!".......oh. we're not that mad?

......sorry for my post.................

Here You go, additional blonde agent and others who continue to pretend doing nothing was an option while you wrap yourself in conservative dogma.  Oh and it's an analysis from Nouriel Roubini, perhaps the most prescient economic forecaster and analyst today and a guy who predicted this meltdown well over a year ago and not a left wing political site so it actual means something.  This analysis comes from October 9, 2008 as the markets were seizing up.

That is more or less the same advice every serious economist was giving at the time.  Not left wing or right wing, economists.  This is an extremely complex problem and it is worldwide in scope.  Every free market economy around the world has had governemnt intervention but somehow you think we should just have allowed the US, and by extention, most of the world, to go into a depression to prove a point or avoid more debt?

If you guys can't come up with some plan that actual deals with the fact we were headed into a systemic financial meltdown and are still teetering on the edge, that would have solved the crisis without a bailout, your argument amounts to stamping your feet and screaming how much you don't like it.  You may think you have some devastingly clear point  but I'm not seeing it.

What point?  That we have more debt now?  No shit.  That more industries are asking for a bailout?  Wow, that's really fucking surprising.

Keep pretending like doing nothing was a realistic or even sane option when not one free market in the world agrees with you.  Here's a clue, we have always been on the hook no matter what was done or not done, the only question was for how much. 

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