1 How much of TARP was actual taxpayer money, and how much was just printed out of nowhere?

2 FAIL.

3 Olympic.Fail...

4

My bet -

George Soros will have pretty much unlimited funds for supporting socialists in the future...

... I mean, if they are curious about where the money went...

...  you know, just in case.

5 Suckers!

6 Cribbing from Beck's Show:

GE: We Bring Evil To Life

7 serenity now.
serenity now...
serenity now.....

8 I cantz take it no morez.

9 I'm so smart!

10 Olbermann definitely needs to have his pay reigned in, especially when you consider his ratings. We are, in essence, subsidizing his stupidity and blind support for this president.

11 CNBC is hip deep in this hypocrisy about the pay restriction, being a part of GE. Nary a peep about their parent companies duplicity.
Obamabot Melissa Lee practically cut Charlie Gasparinos mike this morning when he voiced how Wall St. felt suckered by our Marxist overlords.

12 Damn, almost makes me wish I was a FOO...

/not

13

Exactly.  Totally clean house.  Vote every one of these bums out!  Good grief I can't take much more.  It's endless, day in, day out...it's insanity!

 

14 We freakin' told you so.

15

I believe in olive fingers.

And not much else besides.

Thus, because there wasn't any chewy, tasty finger-nubs involved, nor obscure TV commercials, I never fell for the TARP fiasco.

16

Government incompetence, corruption and crony capitalism under this administration?!?!? The deuce you say!

17 Comes the revolution.............

18 Oh, ace, this is greasing the wheels for socialism. That's why they ensured that this money would get lost. Now all of these companies, and eventually the industries they represent, are on the hook for the fraud "they" perpetrated against the American people.

19

another $800 billion down the rathole

Is 'rathole' a typo?

20 GE has a massive finance arm and was having problems rolling over their extensive commercial paper borrowing. Finance continues to drag down GE profits and they face large losses in commercial real estate.
No doubt many GE shareholders would like to more than cut Immelt pay...but "promote" him to BHO's admin...anywhere so long as it is out of the company.
The biggest irony of these "pay cuts" is that GM, Chrysler and for that fact GE are not known for paying $ 2-$ 5 million salaries + massive bonuses to "Managing Directors"...only wall street investment banks ...(now commercial banks.) pay at those rates. So punish the top 25 execs at Citi or BofA, go figure...by the way..how will you attract top talent to fix these firms.
More smoke and mirror from the BHO carnival.

21 I am absolutely shocked by these developments...they didn't do it right!

22

But, but, but, I thought that O'l Sheriff Joe was gonna watch all that there money and who got it and all.

23 The DUECE, you say!!!

24 They were either totally incompetent, drunk, or corrupt.  Nothing else could explain this massive obvious fail.

Feel free to copy and paste this comment in the thread below about those airline pilots as well.

25 I, for one, am still waiting for the conservatives who supported TARP to officially apologize for it. The whole episode was shameful. The idea that the people who made the problem could fix it.

26 They know where the money went. Just think how bad it must be that they will not tell us. Bring in forensic accountants and start filing charges. I bet both donkeys and elephants are in this. Otherwise one side would be screaming.

27

I can understand where you went wrong. The full depth of this political elite's contempt for America is staggering. And its implications, if you accept them, are dangerous to the soul. At the extreme you get talk of Wolverines, secession, mutiny, coup d'etat, military rule, absolute monarchy etc etc.

Which is not what you want for your blog. And it's not really what your commenters want either. Or else they'd all be at those other sorts of blog.

Outside the venting and the anger on the rightosphere, all the smart and the moderate people (read, the people who got us into this mess) were telling us that if we just did THIS bailout and THAT bailout then we would avoid locusts.

If you were a blogger who wanted your base of support to hang onto simple belief in democracy, because you thought it was the right thing to do as well as avoiding having your blog blacklisted and shunned: then the choice was clear: you close your eyes, you clip your nose and you put more hot sauce on that sandwich.

28 didn't Ge amd goldman sachs go over to Russia, right after we tos'd Georgia , poland ,ukraine, etc. under the bus? did we find out whjat they got with that deal?

29

They were either totally incompetent, drunk, or corrupt.  Nothing else could explain this massive obvious fail.

Thank you, plaguerism is the only way to go.

 

 

30

Does this mean my unicorn is still on back order? I've been really patient...

31 The serfs shouldn't ask where the king spends their money.

32 And they call me a crook!

33 This just makes me so sad.

I appreciate your willingness to admit your error, but take no joy in having been right. Neither you nor I, unfortunately, had any effect on the decision for this boondoggle, so our collective opinions are worthless.

By worthless I mean worth $0, so...worth more than TARP. Extra sad.

34 19..not a rathole.but to European banks, Chinese investors, law firms, accountants and the oligarchs of wall street. I am sure that Acorn got some money, but since the treasury fought disclosure of TARP funds we just don't know..but I am not optimistic.
Great irony is that about 70% of the street supported Obama, so he won't cut their pay, only the top 25 poor sods at Citi and BofA. The billions sent to GM and Chrysler, will that was to pay back their "overdrafts" so to speak..along with cents on the dollar to debt holders.

35 Ace,  ya fucked up.  Ya trusted us. 

36

>The madness in Washington won't stop until the people completely clean house at both ends of Pennsylvania Avenue.

 

aye, there's the rub, man. these 'people' you speak of keep electing fools to public office

37 John why did the treasury fought disclosure of TARP and why did we let them? The answer is there was more to this than they let on. Just how deep a hole are we in?

38

no, it doesn't 'seem' you were wrong.

you were, in fact, wrong.

39

We are too big to fail. So screw yourselfs, o.k.

Besides, who else is gonna bring you instant classics like "Keith Olbermann defeats death" or "Rachel Maddow nightly makes 500 heterosexual males never want to have sex again" or "Chris Matthews: Tingles - My Day in the Life of Barrack Obama's Fluffer". 

Again, screw yourselfs, o.k.

 

40 Just how deep a hole are we in?

Posted by: Locus Ceruleus at October 23, 2009 03:40 PM (tzcjs)

BWWAAHAHAHAHAAAAAA.

41

 

People should be going to jail for this. Turbo-Tax Timmy should have to be Bernie Madoff's bitch.

42
OT:  the skins are selling beer INSIDE the mens rooms at their stadium?  That's freaking disgusting.

43 If you watched 30 Rock last night you would know that GE does not take corporate welfare.

44 Well, that sucks.

45

>>They were either totally incompetent, drunk, or corrupt. 

Well, Teddy was still in the Senate at the time.

46 Did hear some scuttlebut about Comcast making a bid for NBC. G.E. is looking for a buyer to get some cash. Anyone have any insight into Comcast?

47

Yeah, it's all the Treasury Department's fault.  Idiots!

Don't look at me.  I lost my tracking device in my oatmeal waaaay back when.

48 as i've asked several times here. Have we Ever found out where the 550 billion went in September?

49 Another Friday afternoon bombshell...you could set your watch...

50 Zzzzzz...

51 Standard operating procedure for <b>any</b> "Too big to fail" situation should involve a mandatory slicing of the company into five (or more) pieces and an immediate firing of the entire executive level with their retirement parachutes cut.

You have to convince people that are movers and shakers in their own right that they <b>do not</b> want to steer quite so close to risky waters.

If they were too big to fail, then they were too farking big.

52

42
OT:  the skins are selling beer INSIDE the mens rooms at their stadium?  That's freaking disgusting.

Effing brilliant!  All they need now is windows onto the field and a guy would never have to move!  "All the excitement of being there.  All the convenience of home!"

53 GE, you will be happy to know, got the money under special rules and also, being so very special, does not have to comply with Obama's Pay Czar's CEO pay demands.

Well at least the corruption, cronyism, partisanship, favoritism, media bias, etc. is, in fact, *transparent*.

54 Anyone know who requested list report?

55 OT:  the skins are selling beer INSIDE the mens rooms at their stadium? 

They should be selling my product to help dull their fans' pain.

56 Treasury is hung!

57

Let's not lose sight of the fact that Bush backed this thing whole-heartedly, and even went so far as to loosen the restrictions on the manner in which these funds could be distributed so that he could give our money to the car companies. 

The economic policies (and, really, most ALL of the policies in general) of the Obama administration have been poop with a capital P, but if we start conveniently forgetting the sins of the past to make it easier to criticize the current administration, we run a risk of repeating our mistakes. 

58

but you came clean, and that's something, I guess

 

fuck it- give yourself a Nobel, and a Grammy while you're at it

59 No Evidence TARP Worked; Treasury Officials Failed to Track Money, Deceived Congress; Half of Money Unlikely to Ever Be Recouped
I've got my work cut out for me. Where's that memory tube again?

60 Well people said you just can't buy the type of free fawning press that GE's media companies gave Obama.  Apparently you can.

61 Barofsky being found dead of aspirin overdose would not even surprise me, these days.

62 >as i've asked several times here. Have we Ever found out where the 550 billion went in September?

Posted by: willow at October 23, 2009 03:43 PM (1kwr2)

 

do the words 'a fart in the wind' ring a bell with you?

63

But but but we gotta keep spending or we'll go bankrupt.

-Joe Biden

64 GE is bankrupt.  They have no money.  Comcast is reportedly making a bid for NBC.  Comcast has enough cash to buy GE if they want to assume their debt obligations.  Of course, they won't because the GE debt obligations are so massive that only a Treasury apparatus could buy them out of this hole.

We're already a Wiemar Republic.  What makes ABC and FOX different is that their owners have diversified interests across global markets.

GE is now China's bitch.  Whatever GE argues is what China wants.  China needs GE to sell Americans on "green living" to revive a new supply chain of goods designed to meet those needs.

GE Capital is basically a mergers and acquisitions finance conglomerate.  It's bankrupt because it negotiated financing for mergers of firms that were highly leveraged with paltry assets.  You can't combine two shits and get gold even with Barry feeding it to Michelle to add the organic touch.

65 Wow, even we got more things right.

66 I distinctly remember that when TARP was passed, there was going to be no way to track the spending. We Conservatives saw this disaster coming from a long way off.
Mark my words - much of the money has NOT been spent because it WILL be spent when we get close to the 2010 elections to save Democrats' asses.
Thoughts?

67

OT:  the skins are selling beer INSIDE the mens rooms at their stadium?  That's freaking disgusting.

Posted by: Dang Straights at October 23, 2009 03:41 PM (Haq+B)

 

 

 

*cough* _{thats not really beer} *cough*

68 Re John @20 ,

Ther're # 10.

69

Pleeeeze, I gotta deep fryer and a black taco stand in my bathroom, you guys are Boooosh league!

 

70 Oh, GOOD.

Another $700 billion monument to government ineffectiveness, fraud, and waste.

Let's nationalize healthcare, everyone!!

71

I'm highly disappointed in myself for not figuring out a way to rip off TARP for a mere 50 million.

Really, it never would have been missed, and it would have made a huge difference in my life, assuming that this stuff never gets investigated, and for political reasons, I'm pretty sure it won't.

72 Congresscritters make lousy economists.

73 This is OT but not really OT since its about catching con men.  USA's new series, White Collar premiers tonight.  Looks like another hit for them. 

74

Locus,ain't that the truth.Never believe what a politician tells you.Always verify,and if you can't,he/she is more than likely talking out thier ass.

I have been wondering how in the hell the stock market has gone up the last few months.Is there some sort of correlation between this missing money and the mrket?Imagine if the Dow was still around 7000.Do you think this asshat would be able to ram anything through Congress with the sort of approval ratings he would have?

75 OT: the skins are selling beer INSIDE the mens rooms at their stadium? That's freaking disgusting.

Posted by: Dang Straights at October 23, 2009 03:41 PM (Haq+B)




*cough* thats not really beer *cough*

Posted by: The Skins at October 23, 2009 03:50 PM (AoS9J)


Q: How do you spot the Irishman in a hospital?

A: He's the one blowing suds off of bedpans.

76 Fan-fucking-tastic.

I swear South Park had it right when they portrayed the Congressmen cutting the head off a chicken and responding to the crisis du jour based on where the headless chicken fell down on their giant board of options. They're all clueless.

77 Keep fucking that treasury.

78 [Scene: A dim office in some generic building. The only ambient light comes from dull amber sunlight that filters in through the closed windowblinds. MONTY, a loanshark, is talking to CHET, a sad-sack who has borrowed a rather large sum from MONTY and has failed to pay it back.]

Chet: (Sweating, nervous) So...so...so I had to get the money to pay my rent, right? 'Cause I didn't have no job any more at the Val-U-Mart after they caught me stealing Ding-Dongs...said they caught me stealing Ding-Dongs, I didn't steal no Ding-Dongs--
Monty: (Interrupting) I don't give a fuck about your Ding-Dongs, Chet. Where's my money?
Chet: What I'm saying. I ain't got no job and the man gotta have the rent, right? 'Cause Kimberlee and Kodee, they gotta have a roof, right? Am I right? And what'm I gonna do? I go, I go down to the unemployment office to get my check, right, and they're like, "Hey, we got no record that you were ever employed at Val-U-Mart." That's 'cause I was off the books, you know--
Monty: (Leaning forward abruptly) Chet, shut your cake-hole. I don't want your fucking life-story. I don't give the fattest kind of shit what happens to Kumstain or whatever the fuck her name is. I care about my money. Where's my money?
Chet: (Desperate) Look! Look! I'm tryinna get your money all day yesterday and the day before, right? I'm like standing all my friends beers and Fritos and shit when I got money, and where are they now I got no cash? Fuckers! Friends like that, I don't need no enemies, you know?
Monty: (Ominously) Chet, I'm tired of hearing your mouth run. I want to show you something. (Monty takes a large pistol out of a shoulder holster and lays it on the desk, where it gleams a dull silver.) I'm a man who believes in doing things himself, Chet. You came to me a couple of weeks back with a problem, and I solved your problem, didn't I? You needed money, and I loaned it to you. I didn't ask you what you needed it for, because I don't give a fuck what you needed it for. I offered you some terms, and you agreed. And now you're coming in here and shoveling out a load of wet shit at me. Let me say again: where's my money?
Chet: (Tremulously, eyes fixed on the gun, as a mouses' eyes are fixed on the talons of an eagle as it swoops down.) I ain't got it, man! I can't give you what I ain't got!
Monty: You're sure about that? You might want to re-think your options. Because I'm the kind of guy, Chet, I don't write off a bad debt. I believe in setting examples. To be blunt, I'll blow your fucking brains out right now just to show the other fucking deadbeats out there that they can't beat me out on what's mine.
Chet: (Crying, pale, shaking.) No, man! No, listen--
Monty: No, Chet, you listen. I'm not a nice man. I'm not a kind man. I'm not a man who can be moved by pity, or remorse, or fear. When you took my money, you took something else too: my reputation. It's the most precious thing in the world, the rarest and most valuable thing I own. And I entrusted you with it. I treated you as a man, Chet. An upright, human man deserving of my respect. So when you come in here and tell me that you're fucking welshing on our deal, you're telling me that you took my reputation and used it to wipe your ass.
Chet: (Shaking his head wildly.) Naw! Naw! Look, maybe--
Monty: Quiet, Chet. You let old Uncle Monty talk now. You're going to pay. Whether with money or with blood is up to you. It can't be any other way. And I'll do the job myself, Chet: like I said, I don't believe in farming this shit out. (Monty picks up the gun, simply hefting it, not pointing it at Chet, who is weeping openly now.)
Chet: Just gimme another day, man! Another day! I swear--
Monty: You swear, you swear, your word is worth dogshit to me, Chet. You fucked that up when you came in here without my money. I'm giving  you exactly 24 hours to bring me my money. I don't give a fuck how you do it. Knock over a bank, sell your kidneys, whore out your wife.
Chet: Man, man, I--
Monty: Oh, and Chet? Just in case you get the urge to go wandering when you leave here. Just in case you discover pressing business out of town or a sick relative in a distant city. If that should happen...it would go very badly for you, Chet. Think of me as Christ Almighty at least in that respect, Chet -- my judgement cometh, and that right early. Now fuck off and go get my money.

79

Another eeriely familiar photo of the holely one.

http://tinyurl.com/yhmoxm2

Mao, Lenin, Stalin, Kim Il Sung, et.al. would be proud.

80 what i remember about the TARP, is Bush, Boehner, looking like death, Reid, Pelosi coming out swinging the paper in the air smiling like they won the lottery (i think they did)

81 The stock market is not up as much as you think when you factor in the devaluation of the dollar.

82

Another eeriely familiar photo of the holely one.

http://tinyurl.com/yhmoxm2

Mao, Lenin, Stalin, Kim Il Sung, et.al. would be proud.

Posted by: Hussein the Plumber at October 23, 2009 03:54 PM (r1h5M)

It makes me wonder if people in Cuba, NK, USSR, Red China, etc. also look at posters of their respective "Dear Leader" and want to puke.

83 The US government is in the process of transforming itself in to an ongoing criminal enterprise. Just my opinion. I mean, what else do you call this sort of behavior?

84 Posted by: Hussein the Plumber at October 23, 2009 03:54 PM (r1h5M)

They've changed the name of that f*cking thing? It's not called "Cap and Trade" anymore, but the Clean Energy Jobs and America Power Act ("Energy-And-Climate" for short)? These cocksuckers never cease to amaze me. Every day a new low.

85 Hey Ace, you need to apologize for helping push through a 800 billion dollar waste. Take some personally responsibility, man!

86
Smash and grab.

87

...what else do you call this sort of behavior?

Progressivism.

88

Mark my words - much of the money has NOT been spent because it WILL be spent when we get close to the 2010 elections to save Democrats' asses.
Thoughts?

 

There's a reason it was all back-loaded to the summer and fall of 2010 and included such things as $8B for ACORN.

89 It makes me wonder if people in Cuba, NK, USSR, Red China, etc. also look at posters of their respective "Dear Leader" and want to puke.

Posted by: Herr Morgenholz at October 23, 2009 03:57 PM (5aa4z)

During the early 1950's the Czech Commies put up a huge statue of Stalin leading a line of workers "into the future."

My dad reported that it was popularly called "The Breadline" by the locals. And not in a kind way.

90 @27 I can understand where you went wrong. The full depth of this political elite's contempt for America is staggering. And its implications, if you accept them, are dangerous to the soul. At the extreme you get talk of Wolverines, secession, mutiny, coup d'etat, military rule, absolute monarchy etc etc.

Which is not what you want for your blog. And it's not really what your commenters want either. Or else they'd all be at those other sorts of blog.

Just curious here - where might one find one of those "other sorts of blog" you mention?  It might not hurt to make a few connected friends - just in case.

I suspect that creeping radicalization is more widespread than one might care to believe, and news like this only makes it worse (and easier to justify).  A friend of mine who is generally a calm, center-right family man type of guy is suddently saying he wants to learn more about Stormfront.  I know through firsthand and second hand sources that my little town is doing its part to maintain the gun and ammo shortage - the conservative types are arming up.   If we DO end up learning where this money went, and I'm assuming at least part of it will leak eventually, there can be little doubt that the anger level will only increase. 

Just wait until the next election has Black Panther types patrolling the polling places again, and the military ballots are "lost" again in greater numbers than before, and 10 million dead folks rise up and vote Democrat.  And heaven help us if Obastard catches a break and gets to replace a conservative justice on the SC.  Then the whole system will be perverted beyond recognition.  It'll be too much for some people to take.

91 Mark my words - much of the money has NOT been spent because it WILL be spent when we get close to the 2010 elections to save Democrats' asses.
Thoughts?

Only that there is no reason Socialism will be any more effective running up to November 2010 than any other time. By then, unemployment will be so incredibly off the wall high poor Bambi and Rahm will be hiding under their beds.

92 Is GE the one that got 6 Billion yesterday for the alternative F-35 engine?

93

Posted by: Dang Straights at October 23, 2009 03:41 PM (Haq+B)

It's the only way that the fans can stand to watch the Skin play.  The organization probably is thinking "every time a guy takes a leak, his blood alcohol level goes down.  We need to titrate the alcohol dose to maintain it at a certain level in order to keep these fans in the game."  They are going with the stat booze replacement cause if anything the Obama administration has impresssed upon us all, there is no time like the present. 

94 I read the thing about selling beer in the men's room and the thought of a giant colleciton and purifying machine came to mind.  (I mean really beer looks the same on the way out as it does on the way in)

95 Those threads about TARP were pretty epic.

96

They've changed the name of that f*cking thing? It's not called "Cap and Trade" anymore, but the Clean Energy Jobs and America Power Act ("Energy-And-Climate" for short...

Polish that turd..til it SHINES!!

 

97

I read the thing about selling beer in the men's room and the thought of a giant colleciton and purifying machine came to mind.  (I mean really beer looks the same on the way out as it does on the way in)

Funny, I thought about that scene in Catch 22 where the patient is in bed covered in bandages and connected to two bottles, one IV and the other a catheter. Every four hours they'd come in and swap the bottles.

98 @90 Reactionary

Don't plan.  Don't discuss.  Just prepare.

I'd bet a significant percentage of the Stormfronters are FBI/BATFE plants.

99 With Net Neutrality etc., what makes you think you'll be allowed to know anything by 2010? Arm up, move south. What do you have to lose? Texas has no income tax.

100 Ace, I was wondering if you would say anything about this. Thanks for owning up, man.

101 The full depth of this political elite's contempt for America is staggering.

Although not really new, it has recently come to my realization that our media elite, our political elite, and our entertainment elite despise us.  Hot Air had a video up a couple of days ago in which Penn of Penn and Teller was discussing the ass chewing he got from his friend and mentor, Tommy Smothers, for appearing on Glenn Beck.  Smothers was foaming at the mouth and spittle was flying everywhere because Penn had the audacity to more-or-less debate Beck.  His depiction was eye opening about the extent to which we are hated.  They want our money, but other than that we are not welcome. 

102 Who cares?  I gots my Skittles, I looove the red ones they're the best, the green not so much.  (opens package)  Hey!  WTF!  Almost all the skittles in the pack are green!  (This is really happening even as I type!)

103 Just for the record, General Electric Capital Corporation was indeed heavily involved in insuring Issuers in the assembly of many CDO's.

It doesn't take away from your larger point about their getting preferential treatment under TARP and nor with regard to their exemption from the 'Pay Czar', but they were in fact a key underwriter of the initial obligations for many issuers of CDO's

104

91 Mark my words - much of the money has NOT been spent because it WILL be spent when we get close to the 2010 elections to save Democrats' asses.
Thoughts?

Only that there is no reason Socialism will be any more effective running up to November 2010 than any other time. By then, unemployment will be so incredibly off the wall high poor Bambi and Rahm will be hiding under their beds.

 

The difference is that instead of handing bags of cash to their core constituencies in order to thank them for the help (officially called the Reach-Around Stage), they will be setting up fake jobs for people and paying them with the stimulus money to make everything look rosier (officially called Cash-For-Crackheads)...  just imagine the media reporting millions of jobs created just before election day...  it may be enough to steal it for them.

105 OT: Bob Bauer, whose stellar judgment calls in the past include wedding Anita "The Maoist Iguana" Dunn, eyed for White House Counsel's job.  http://tinyurl.com/yzbtcls

106 And the Head Pat Media will pounce on this important story in 5, 4, 3, 2, ...

107

I read the thing about selling beer in the men's room and the thought of a giant colleciton and purifying machine came to mind.  (I mean really beer looks the same on the way out as it does on the way in)

We have perfected our giant collection and purifying machine.  It makes everything taste like chicken!

108 98 @90 Reactionary

Don't plan.  Don't discuss.  Just prepare.

I'd bet a significant percentage of the Stormfronters are FBI/BATFE plants.

Posted by: MikeO at October 23, 2009 04:07 PM (WvolZ)

Forget Stormfront.  They are one of the few political organizations that is more immoral, corrupt, and incompetent than 'Bamster and Co.

109

Everyone and I mean everyone associated with this titanic ripoff of the taxpayer should be under indictment.  Yes, starting with you Hank Paulson.

AND NOW SOME ANGRY RED SHOUTY WORDS:  ALL THE BAD LOANS ARE STILL ON THE BOOKS. 

110 Isn't it about time to call shenanigans on this administration?  I'll bring the brooms.

111 Check out this pole at powerline.

Hmmm.

112 Mark my words - much of the money has NOT been spent because it WILL be spent when we get close to the 2010 elections to save Democrats' asses.
Thoughts?
 By the end of February 2010 - bankruptcies/defaults will expose the "too big to fail" lie in a very public way ... look for the rest of the world that holds our debt to ask for "their money" shortly thereafter.

113

Well, there is only one more week left in October, still plenty of time for an October surprise.

And I agree with whomever said upthread that they are disappointed in themselves for not figuring out how to get some money out of all these TARPs and Spendulus's etc. I shoulda written a government contract for something, maybe park beautification or underprivileged kids Lego grants.

114

 

Cavuto all over this right now.

115 Sorry, another OT:  Florida orders Riqfa Bary transferred to Children's Services in Ohio.  The spokesdroid for the Florida Dept of Chilluns and Families had this to say.:

"This order indicates that the Court has relinquished its emergency jurisdiction and orders the Department to arrange the transportation of the child to the proper authorities with Franklin County Children Services in Ohio," DCF spokeswoman Carrie Hoeppner told the Orlando Sentinel. "The Department will proceed with those arrangements. Please understand that the details of the transfer will not be released, to best ensure her safety."

Thereby pronouncing the lie.  Fucking idiots.

116

I get a sick feeling in my stomach when I realize, just momentarily, that the entity known as the Federal Government is, in fact, a criminal enterprise.

...when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism...

117

Everyone and I mean everyone associated with this titanic ripoff of the taxpayer should be under indictment.  Yes, starting with you Hank Paulson.

Any government official who believes that the imposition of martial law on the people of the US is ever an appropriate policy of government should be summarily hanged.

118

 

Huckabee just called the Treasury a "criminal type organization" and people should be under idictment.

119 TARP was nothing but a bad, un-Constitutional joke.  Most of the effects that people do attribute to TARP have nothing to do with it, but are due to the Fed's pumping of TRILLIONS of dollars into the system, two trillion in swaps for likely worthless toxic assets, including the creation of over a trillion in currency back in March - which also solved nothing, though it bought time.  TARP has become nothing but a continuing slush fund for Treasury to do anything it wants, which is also un-Constitutional ten ways from Sunday.

120 I'd bet a significant percentage of the Stormfronters are FBI/BATFE plants.

Posted by: MikeO at October 23, 2009 04:07 PM (WvolZ)

In other news, water is wet.

121 So bottom line. Once again the skeptical American people were right and all of the powdered wig wearing, stuffed shirt, self important denizens inside the Beltway were wrong.

Time to hire a new crew and throw all of the old ones out.

122 I'd bet a significant percentage of the Stormfronters are FBI/BATFE plants.

The Killgore Trouts of the law enforcement world.

123 That was TARP coke I was snorting near the prez. Whoooooooh Hooooooooh bitches.

124 I shoulda written a government contract for something, maybe park beautification or underprivileged kids Lego grants.

I've been working on a grant-request for Monty's Home for Wayward Pole-Dancers. It'll be a nurturing, hands-on environment where unemployed and disenfranchised pole-dancers can recover under Monty's watchful and caring gaze (via various hidden cameras and other recording devices).

Because I'm a giver.

125 GE has a large lending wing that did subprimes.

126 Why do you people keep spelling my name wrong?

127 116

I get a sick feeling in my stomach when I realize, just momentarily, that the entity known as the Federal Government is, in fact, a criminal enterprise.

Posted by: Ken at October 23, 2009 04:17 PM (Bs34i)

The situation is even worse than that.  The Constitution detailed the constraints that domesticated the federal government.  Without those restrictions, the federal government has quickly reverted back to a barabaric and savage state of nature.  We no longer have a federal government, but a FERAL GOVERNMENT.

128 These bastards are fuckin' golden

129 Ace, welcome to your personal WTF moment. I'm not even a Republican and I smelled that one a mile away. Paulson protested waaaaay too much, he also was "dithering".

130

by the way..how will you attract top talent to fix these firms.

The "top talent" are the people who've screwed those companies, and this country, into the ground.

We need to lose this fantasy that people in the finance sector are deserving of absurd pay because they are so darn smart. We could outsource Wall Steet to India and get half the fuckups at a quarter the cost. The only reason we don't do that is because Wall Street owns DC.

131 I've been working on a grant-request for Monty's Home for Wayward Pole-Dancers. It'll be a nurturing, hands-on environment where unemployed and disenfranchised pole-dancers can recover under Monty's watchful and caring gaze (via various hidden cameras and other recording devices).

Because I'm a giver.

Posted by: Monty at October 23, 2009 04:20 PM (4Pleu)

Father Teresa?  I see a Nobel Peace Prize in your imminent future, my friend.  You are doing the Lord's work.

132 Oh poop, I had a sock stuck on!

133 Oh poop, I had a sock stuck on!

Posted by: runningrn at October 23, 2009 04:23 PM (IM/Ge)

"Having all your shit in one sock." is usually a compliment.

134 i love the ace. 

135

Sorry, another OT:  Florida orders Riqfa Bary transferred to Children's Services in Ohio

This entire situation is unbelievable.  Here you've got liberals who claim they stand up for the rights and safety of women and children who are going to get this poor girl killed.  I'm wondering if they would do a better job of protecting her if she would been a convert to Wiccan instead of Christianity.

136 what fcking thieves !
and they still want more of our money to sling around.
scum bags need to go to jail

137 @125 ,

See 68 .

138 132 Oh poop, I had a sock stuck on!

Take off your shoe.

139

 

More good news. First time home buyer tax credit fraud could top 500 million.

Which means it will actually be way over a billion.

140 i love the ace. 

Posted by: Winston at October 23, 2009 04:25 PM (FggW0)

Megadittos!  I heart Ace too!  Takes a mighty big man to admit he made a mistake.

141

Hmm, what about the "chocolate safety institute?" Our institute provides valuable feedback on the safety of the chocolate being sold to consumers.

Or, "The North American Brown Ugly Spider Refuge" which is apparently my back yard...

142

BATFE

Fucking bureau of randomly assorted and nonsequitar items.

What the hell is next man?

Bureau of Pornography, Gambling, Bacon and Steel Tariffs?

143 "How much of TARP was actual taxpayer money, and how much was just printed out of nowhere?"

Our money is a debt money system.  So when the fed prints money we will have to pay it back because in order to get that printed money we have to issue debt for it.

Sooooooo we issued debt to get money for TARP and gave it to the banks, but we are paying intrest to the banks on the money we gave them, because we had to borrow it from the Fed.

When we monitize the debt all we are doing is selling debt to the Fed and they give us dollars to pay China and other debt holder.  But we will have to pay the Fed intrest on the debt or default.

144 I hate to say this, but TARP did indeed happen on GW's watch. And he decided to go against capitalism to save capitalism. From what I've read, "banks that were then too big to fail have now spawned even bigger banks that are too big to fail." We are so screwed.

/also have the feeling that GW just phoned it in from '06 on, which was not fair to the country and the people who supported him

145 43 Jack Donaghy: If you watched 30 Rock last night you would know that GE does not take corporate welfare.


What was said?

146 All I know is that the officials in Florida and Ohio better be praying to whatever God they worship that Rifqa Bary doesn't end up dead.

147 "In his 256-page report to Congress, Barofsky notes that the Treasury Department's failure to implement anti-fraud measures, or even to require TARP recipients to report how they used the billions Congress and the Treasury Department gave them, makes it highly unlikely that the $317 billion outstanding -- nearly half the TARP total -- will ever be returned to taxpayers."

Watch me fuck up even more. That would make two countries I fucked with my advice. And I have not fucked in a very long time.

148 I've been working on a grant-request for Monty's Home for Wayward Pole-Dancers.

Because there's nothing worse than having these poor unemployed pole-dancers out street-walking.

149

90, Stormfront? Fucking stormfront?

God in Heaven, no.

Please point folks like your friend here and tell him to also check out the blogs linked off of it: http://tinyurl.com/daocl5

 

150 Huckabee just called the Treasury a "criminal type organization" and people should be under idictment.

Ugh.

I agree with Huckabee.

151 You should read that online Rolling Stone article on naked short selling to really see the 69 going on between US govt and Wall Street.  Main street investors have no chance.

152  House panel learned Thursday of tens of thousands of cases of fraud in the tax credit program, including more than 500 instances of people using their children -- including a four-year-old -- to apply for the credit to get around income caps and a requirement that the purchaser has never owned a home.

Together, fake or faulty claims for the $8,000 refundable tax credit may have cost the government up to half a billion dollars so far, investigators told the Ways and Means subcommittee.

Russell George, an inspector general with the Treasury Department, told the subcommittee about the most brazen instances of bogus claims that he had come across since the IRS created a filtering system last May to weed out suspicious applications.

George said he had found nearly 20,000 returns for people who may not have actually purchased homes; thousands for people who already owned homes; 3,200 taxpayers who could not prove they were in the country legally; and an unspecified number of IRS employees wrongly applying for the credit.

"Based on the administration of the credit to date, I am very concerned about the IRS' ability to effectively administer the credits that are claimed before the December 1st deadline, let alone any credits that may be claimed within future extended deadlines," George said.

The temporary program was created by Congress in 2008 to jolt the weakened housing market and was renewed and expanded in 2009 by the $787 billion stimulus bill. This week Sens. Chris Dodd (D-Conn.) and Johnny Isakson (R-Ga.) began a push to expand the credit to all homebuyers and extend the deadline, now set for Nov. 30th, to July 2010.

Rep. John Lewis (D-Ga.), chairman of the subcommittee, said that 1.4 million families have claimed nearly $10 billion in credits, but that the speed of implementing the program meant policing fraud was at first unacceptably poor. "We want to and we need to stop this fraud and abuse," he said.

Among the solutions witnesses recommended: Requiring additional documentation from homebuyers; reviewing applications sooner; and creating a minimum age for applicants. There is currently no law limiting the age of tax credit recipients. tweetmeme_source = 'politicsdaily';  

153

 

Cavuto: 4 yr. olds and over 3000 illegal aliens got tax credit. 53 IRS employees also illegaly got tax credit.

Man, the depth of corruption Washington is mind boggling.

154 How could you get this wrong? It was as predictable as gravity.

155 /also have the feeling that GW just phoned it in from '06 on, which was not fair to the country and the people who supported him

He actually started phoning it in after his push for Social Security reform failed, which was about 6 months into his second term. The only thing he did right from '05 to '09 was the surge. He had a chance to be remembered as a pretty good Prez and he blew it spectacularly.

156 Because there's nothing worse than having these poor unemployed pole-dancers out street-walking.

Posted by: CUS at October 23, 2009 04:29 PM (wOGfT)

I'd like to see you try and walk the streets in 6" stiletto heels!  If it comes to that, I may have to file for an L& I claim.  You should see my bunions.

157 Because there's nothing worse than having these poor unemployed pole-dancers out street-walking.

Monty believes that inside every pole-dancer there is a nude masseuse, adult film actress, or a retailer of controlled substances waiting to emerge like a butterfly from a cocoon. Monty's Home for Wayward Pole-Dancers will help these exploited women find their inner entrepreneur in an environment of nudity and freewheeling sexuality. And Cheez-Wiz.

158 I agree with Huckabee.

Posted by: shibumi at October 23, 2009 04:30 PM (OKZrE)

The Apocalypse is nigh.

159 Time to call for an special prosecutor.  This time, give him power to not get Ken Starred.

160 I'd be less pissed if they'd blown all the money on hookers and blow.

161 I'd like to see you try and walk the streets in 6" stiletto heels!  If it comes to that, I may have to file for an L& I claim. 

Ask Hannah Giles for tips.

You should see my bunions.

I didn't slip a twenty into those panties to see your bunions.

162 @78 - Oh yeah. Monty's back for real now!

163 Monty's Home for Wayward Pole-Dancers will help these exploited women find their inner entrepreneur in an environment of nudity and freewheeling sexuality. And Cheez-Wiz.

Posted by: Monty at October 23, 2009 04:34 PM (4Pleu)

Did you finance that home through ACORN and are these pole-dancers young girls from Honduras?

164 hey, anyone know what new super kickin job anita's hubby got?

165 Karl Denninger at http://market-ticker.org/ is well worth reading if the details of the malfeasance, illegality, ripoffs, scams, and assorted other frauds being perpetrated upon the American people by the banksters and their cronies in government are of any interest to you.

He also has had quite a bit to say about the specific economic mechanisms that will make collapse inevitable.

166 by the way..how will you attract top talent to fix these firms. The "top talent" are the people who've screwed those companies, and this country, into the ground. We need to lose this fantasy that people in the finance sector are deserving of absurd pay because they are so darn smart. We could outsource Wall Steet to India and get half the fuckups at a quarter the cost. The only reason we don't do that is because Wall Street owns DC. ---- They did not "screw-up", maximized their gain within the ruleset (or slightly over the line) defined by Washington. They got their bonuses for being creative with risk - it was the underpaid watchdogs - in the government, on the boards, as shareholders, and corporate risk departments - who were not paid on an incentive basis or whose incentives were not balanced between long and short term gains, who failed. The toxic mix of unbalanced tax rates, CRA loans, poor SEC oversight, and mark-to-market accounting rules pushed the behavior. I suspect that if you replaced the guys who "failed", the same environment and ruleset would produce the same results.

167 OT: the skins are selling beer INSIDE the mens rooms at their stadium?

Shortens cycle time. Improves efficiency.

168

The same kids who elected Him will be the ones getting the big wet bite out of their best earning years when the tally comes due.

Win, I guess.

169 Again, sorry for the formatting fail - I do have a return key. Blame Pixy.

170

 I'd be less pissed if they'd blown all the money on hookers and blow.

Especially w/o me!

 

 

171 Chicago-style corruption goes national! Love GE's Jack Immelt getting the nod to stick his hands in the taxpayers' pockets without any qualifiers. Payola.

172

Posted by: MikeO at October 23, 2009 04:07 PM (WvolZ) -

Yup. Only with people you know. And I mean really know.

173

Win, I guess.

Posted by: railwriter at October 23, 2009 04:39 PM (rntU

Yep.  That's a win.

174 The thing with Rifqa it is anti christian. If she were running from a religious conservatives home to have an abortion. Then claimed her father would beat her if she returned home? There is no way the media would downplay her perception of her father's rage.

175 Marxism is hard.

176

 

Monty, be sure to get your 8000 dollar tax credit when you start up your home for wayward pole dancers.

At this point you could get your dog or cat to fill out the paperwork and sign it with a paw print and still get it.

177 167 OT: the skins are selling beer INSIDE the mens rooms at their stadium?

Shortens cycle time. Improves efficiency.

Capitalism is not dead yet!

178 GAO Report: No Evidence TARP Worked; Treasury Officials Failed to Track Money, Deceived Congress; Half of Money Unlikely to Ever Be Recouped The GAO Is Racist
FTFY

179 GE , The worlds largest rent seeker .

180 OMG just heard on the radio...a commercial from Glenn Beck advertising his fox show on a non fox network.  Where in he said a lot for a commercial and he said "have you ever seen a monologue with a baseball bat" and he ended with badda bing and in the middle he said things about doing thing "chicago style with a bat"!!!  

181 For the sake of the search engines, call it FluffyBunnyFront from now on.  Ace O Spades is full people I might enjoy if I met them in real life.  I don't know hard or easy that quality is to maintain, but I value that.

182 Oh, and as for "those other sites", Sipsey Street Irregulars is a classical-armed-liberal type of place that has been making a point of being involved in Tea Parties. It has good articles from time to tome on survivalism and small-unit tactics. The guy also has a sort of fed-taunting vibe going on.

Rawles' survivalblog.com is also good.

The white nationalist blogosphere is, based on what I see of it, still too reflexively irrational to be worth following closely.

183 Will work screw the taxpayer for food billions in govt graft.

184 Wonder how much those Union Bosses make a year? Maybe some upstart investigative journalist could start with someone like say.... SEIU President Andy Stern?

185 165, I was about to link Denninger next. He scares me to freaking death.

186

145 43 Jack Donaghy: If you watched 30 Rock last night you would know that GE does not take corporate welfare.


What was said?

It was a funny bit.  Jack, the staunch conservative that he is, called government handouts corporate welfare.  He mocked the "bafoons from Detroit"  who used private planes and led to Jack having to take a bus from NY to DC to testify before a task force on Microwaves and Small Appliances.  Liz asks' Do you need to be bailed out with my tax dollars?  Jack says, "Even if they wanted to I wouldnt take it. It's corporate welfare Lemon."   He then says "Unlike Detroit, we don't need handouts or regulation."  

I guess considering that GE did take bailout money the subplot could be considered edgy in the way they are mocking their parent.

187 Somewhat related, at least we can all rest easy that a union slug is heading the New York Fed, now.  That's got to be worth something ...

188

182, III

The Western Rifle Shooters site off of there has lots of good prep reading too.

And, Ace, don't beat yourself up about being wrong about TARP.

I spent 8 years defending W and it turns out he's part of the whole march to statism after all.

189

 I'd be less pissed if they'd blown all the money on hookers and blow.

Err, um, OK it was all spent on hookers and blow.  We good now?

190

Testimonials for Monty's Home For Wayward Pole Dancers:

"I was dancing every night, trying to make ends meet.  My 52 GGG's were killing my back and throwing my neck out of alignment every time I circled the pole.  Thanks to Monty, I was able to quit that dead end job, get professional chiropractic care and deep tissue massage (the man has the hands of a healer), and spend much of my day here laying flat on my back.  The pain is gone, and I only have Monty to thank".  Suzy Sugartits

"Who know where I would have ended up if Monty hadn't rescued me from the dregs of strip joint Hell?  He saw me spinning around in circles, took me aside and told me I was somebody.  He gave me direction and now I am enrolled in evening classes at an adult education center.  I'll be graduating in a few short months and be embarking on a new career as a critically acclaimed actress.  Thank you Monty" (blows a kiss).  Heather Graham

"Monty is the equivalent of an American, male Mother Teresa/Betty Crocker.  He has done more for me and cheese whiz than I can ever express.  (blinks back tears)  Monty, thanks for taking a chance on an unknown pole dancer, I know it wasn't easy for you, and I apologize for that sweat lodge, cucumber incident (I was high on coke at the time).  You have done more for the disenfranchised pole dance community than you will ever know.  God bless you Monty!"   Krissy Kraft

191 OK,  I will confess I supported TARP,  because it was not what it ended up being.  When it was announced,  I distinctly remember Bush talking about how the government was going to buy the toxic assets and sort out what was good and what was not.   Bush even talked about how the government might even make a profit off of doing this, while the banks would have their credit freed up.

However,  between the time TARP was proposed and when it was passed, Paulson lobbied for the power to do whatever he wanted with the money,  rather than simply buying and sorting out the toxic assets.  I know that one member of Congress talked about this (might have been Pence but I can't remember).  I do not know if Bush was aware Paulson had presented this to the Congress or if Paulson was operating on his own.  

The GM/Chrysler bail-out was done after Congress couldn't come up with a solution, and it was also done at the request of Obama.  It was going to get done whether or not Bush signed on,  and I believe he just gave up and signed on so that he couldn't be blamed.  Maybe he was just sick of the whole thing,  who knows?

HOWEVER, I also remember that the GM-Chrysler thing was supposed to give them time to organize and avoid bankruptcy, and if they couldn't get it done in a certain amount of time (I think it was either the beginning of March or April) they were supposed to pay all of the money back.  I don't think this happened.

So, I freely admit I was too trusting of Paulson, thinking he was doing what had been advertised.  I won't make that mistake again.   And Bush should have been keeping a closer eye on him.

192 Most of the big banks have paid back or will do so, with interest and warrants as required.

I would imagine the bulk of the anticipated/potential losses can be summed up in 6 letters and one word: GMC, AIG and Chrysler.

I would guess that the rest of the potential losses are small banks and other finance companies (i.e. GE, CIT etc).

193

Err, um, OK it was all spent on hookers and blow.  We good now?

Posted by: Barack "Hoover" Obama at October 23, 2009 04:52 PM (wAQA5)

All of it? Not keeping any around to buy the crack ho vote in 2010?

194 I spent 8 years defending W and it turns out he's part of the whole march to statism after all.

Eh. W is who he is. He is a good man in many (most) respects, and I still have fondness for the guy. But he never was a small-government pol, even in his Texas days. I knew that going in. He faded in his second term, but this is par for the course -- even Reagan's last couple of years were pretty weak.

I liked George W. Bush because, whatever else you could say about him, he wasn't afraid to do the unpopular thing if it was the right thing to do (the Iraq Surge, for example, or even Medicare D -- a colossal fuckup in my opinion, but it took balls for him to do it). He wore his beliefs on his sleeve, and endured the grinding pressure of two wars abroad and eight years of demented leftist hatred at home. Ol' George, he did okay.

195

 They did not "screw-up", maximized their gain within the ruleset (or slightly over the line) defined by Washington. They got their bonuses for being creative with risk - it was the underpaid watchdogs - in the government, on the boards, as shareholders, and corporate risk departments - who were not paid on an incentive basis or whose incentives were not balanced between long and short term gains, who failed.

 

They bought and paid for those watchdogs. Being "creative with risk" meant, in practice, privatising their profits and socializing their losses. They were able to do this because "the watchdogs" were people like Frank and Dodd - eager to encourage them in their actions and the recipients of large amounts of money and favors from the people they were supposedly overseeing.

They maximized their own gains at everyone elses expense.

 

 

196 TARP funds?  Huh?

197 So, I freely admit I was too trusting of Paulson, thinking he was doing what had been advertised.  I won't make that mistake again.   And Bush should have been keeping a closer eye on him.

Posted by: Miss Marple at October 23, 2009 04:55 PM (UQado)

TARP was really the Dem Congress' baby, not Paulson's nor Bush's (though Bush was in full support of it).  Don't forget to thank the House GOP for putting some brakes on the first draft of TARP, which was even worse (by orders of magnitude) than what finally got passed.  That took a lot of courage, as they were alone in railing against the insanity.  This was also one of the only good things McCain did during his campaign - which everybody screamed at him for and he acquiesced to having been wrong about, when he wasn't - when he put his campaign on hold, went back to DC and brought the concerns of the House GOP to national attention and helped them slow down the TARP insanity and stop passage on the first go-round.

198 185 165, I was about to link Denninger next. He scares me to freaking death.

Me too.

FYI, Sunday is the day that the web bots are calling for the complete collapse of the dollar.

I think that means that the cautious should fill their cars up with gas. And working on the fallout shelter.

199

194, I try to temper my disgust by saying he was a good, but misguided, man.

I don't think he intentionally advanced the cause of statism. He (and many in his admin) was simply blind to the law of unintended consequences.

200 Heh.  I won.  Twice.

Anyway, just remember this:  All spending is stimulus.  Even when no one knows where the money went.  It went somewhere.  It's kinda like ninja stimulus. 

There you go.

201 The testimonials from Suzy, Heather, and Krissy are only a few of the heartwarming tales that emerge from Monty's Home for Wayward Pole-Dancers. The most successful brothel-owners, call-girls, escorts, and even Craigslist independents owe much of their success to the rigorous training they received from Monty! Truly, Monty's Home for Wayward Pole-Dancers reinvests the term "happy ending" with it's true meaning!

202 192 Most of the big banks have paid back or will do so, with interest and warrants as required.

Posted by: Holdfast at October 23, 2009 04:55 PM (hDyHJ)  

Don't be fooled by a little accounting trickery and a huge grant of free money from the Fed.  Their having paid back some TARP funds doesn't mean anything as to the future liabilities that their portfolios are exposed to, and we are still left with the feral government having ownership in banks, which is just insane and un-Constitutional in every way imaginable.

203

I never felt the need to defend W on anything other than the GWOT.  Frankly, if the democrats had run someone like Leiberman in 2004, I would have voted 3rd party for libertarian or conservative (conservatarian?).  Bush was horrible or at least not good on pretty much every issue except the GWOT*. 

And I admire Ace owning up to his mistake in trusting the government with TARP.  Learn from this, Ace.  The government is like an evil strawberry sunday.  It may look good, and taste good, but it'll kill you and everyone you care about when you sleep.

* Yeah, I'm sure there were a few other things Bush did right, but there were a few HUGE things he did wrong, such as not vetoing McCain-Feingold, refusing to secure our borders, prescription drug handouts, etc. 

204 Tarp bailout? What's that?

205 If you watched 30 Rock last night you would know that GE does not take corporate welfare.

If you saw the whole episode, GE was forced to take TARP money after failing to design a hot new microwave.  The clip from early on where Jack says "YOUR President, who by the way is a Kenyan that smokes cigarettes" is classic though.

206 Out, damn sock puppet!

207

No Evidence TARP Worked; Treasury Officials Failed to Track Money, Deceived Congress; Half of Money Unlikely to Ever Be Recouped

The fucking tarp worked, when I got up this morning the interior of my GTO was dry.  Them Feds showed up later but I had the meth money hid in a can buried in the back yard, so they told their bosses they had the wrong address.  When I dug up my can later half of the money got blown over the fence by a gust of wind.

208

#83

I posted my comment without reading yours. Criminal enterprise is the correct way of putting it.

209

Truly, Monty's Home for Wayward Pole-Dancers reinvests the term "happy ending" with it's true meaning!

You had me at "happy endings"!

210

202, indeed.

Denninger thinks there's about 1.1 trillion in worthless 2nd lines sitting out there in our banking system: http://tinyurl.com/yjzn4my

 

211 The fondest memory I'll have of W. is when he stood at the podium (2000 GOP convention?) and said 'and when congress sends me a bill banning partial birth abortion, I will sign it into law'.

212

Capitalism is not dead yet!

Capitalism's been dead decades now.

213 What is this Congress that was deceived?  I never heard of them!  Sounds like something better left to the cables.  Although it has sleaziness, corruption and sex?  Maybe we should talk about it tomorrow.

214 They maximized their own gains at everyone elses expense. Posted by: flenser at October 23, 2009 04:58 PM (dyi4u) I agree, we just can't describe it as a "failure" they did exactly what they intended and were allowed to do. The active controls (the watchdogs) failed (or were bought off) -- and passive controls (the incentives for long term prosperity vice short term gain) were eroded. The system needs deep changes - or it will happen again.

215 Wise up goombahs. Bo is just a front for the straight up Chicago criminals. Get to know all about dem der guyz: Morales - father & son, the Duff family, Illinois state senator J. DeLeo, DiFronzo & Eddie Burke & the wifey. Axelrod & Rahm work for dez guyz. And there are more "guyz," just waiting for national exposure, along with their big money. Bo's mistake was believing his own press. Yeah, he thinks he's in charge instead of taking marching orders. Bo's a dope but the rest of the crews are vicious. Little Richie Daly is getting mighty nervous. There's a solid reason the 'lympics weren't awarded to Chicago.

216 130

          by the way..how will you attract top talent to fix these firms.

The "top talent" are the people who've screwed those companies, and this country, into the ground.

We need to lose this fantasy that people in the finance sector are deserving of absurd pay because they are so darn smart. We could outsource Wall Steet to India and get half the fuckups at a quarter the cost. The only reason we don't do that is because Wall Street owns DC.

 

Flenser speaks the truth.

217

Oh yeah.  And FIRST!

218 Got to this post late, but just want to say thanks to Ace for posting it.  Admitting you are wrong in a public forum like this has got to be hard.  Shows a lot of class.  Well done, sir.

219 Damn. For a second there, I thought I could hear Soros laughing.

220

You can bicker about the forthcoming meltdown all you want, but the facts are in. The original TARP, as proposed, resulted in loans that have been paid back with interest. Credit spreads have rebounded to nearly pre-crisis levels. As was predicted. Read the actual GAO report linked above.

I can be in favor of something that works without begging forgiveness when it gets turned into something else that doesn't work.

221 Wise up goombahs. Bo is just a front for the straight up Chicago criminals. Get to know all about dem der guyz: Morales - father & son, the Duff family, Illinois state senator J. DeLeo, DiFronzo & Eddie Burke & the wifey. Axelrod & Rahm work for dez guyz. And there are more "guyz," just waiting for national exposure, along with their big money. Bo's mistake was believing his own press. Yeah, he thinks he's in charge instead of taking marching orders. Bo's a dope but the rest of the crews are vicious. Little Richie Daly is getting mighty nervous. There's a solid reason the 'lympics weren't awarded to Chicago.

Posted by: TonyRezko at October 23, 2009 05:12 PM (rgxlx)

You forgot me and the Hyatt family, oh and my gal Val, too!

222 Heh! Heh!  I haz me some TARP money!

223 FWIW, Ace, I reluctantly (and foolishly) supported the first TARP, so I can hardly cast stones.

Now, about the whole Rush "I hope he fails" thing. . . .

224

spongeworthy at October 23, 2009 05:15 PM (rplL3

forget it spongeworthy they made up their minds long ago.

225 I was against the TARP before I was for it.

226

#224 -- Hey polynikes, the kettle told me to tell you to stop calling him black, you freakin' racist. 

227 @200:Anyway, just remember this: All spending is stimulus. Even when no one knows where the money went. It went somewhere. It's kinda like ninja stimulus.

Hmm. Shame Adam Smith didn't know about ninjas. Then we'd have "the ninja hand" instead of "the invisible hand".

228 The original TARP, as proposed, resulted in loans that have been paid back with interest. 

Posted by: spongeworthy at October 23, 2009 05:15 PM (rplL3)

You lie.  The only question is whether you lie intentionally or are just stupid.  "As proposed"?  Are you an imbecile?  Name one toxic asset that was bought/swapped with TARP funds.  TARP was not proposed to give loans to banks, let alone being used for anything else.  It was to take toxic assets off the books of banks - hence the name TARP (Toxic Asset Relief Program - later, disingenuously changed to "Troubled"), you fool.

As to the rest of your idiocy, you don't know what the hell you are talking about.  Maybe you have some fantasies about the PPIP to babble about, too ...

229

#226 CP, I called the kettle black only after it claimed it was stainless steel. 

 

 

230

Thing is, poly, I should have known better. Ham-handed government can always be counted upon to take a fairly good idea and screw it into the ground because they're using other people's money so who cares.

But I won't apologize for supporting TARP as originally proposed. As originally proposed the government wasn't even going to run the thing.

231

But I won't apologize for supporting TARP as originally proposed.

Posted by: spongeworthy at October 23, 2009 05:39 PM (rplL3)

Really?  What was the original proposal for TARP?  Show me where that was ever done.  And where did Paulson get the $700 billion figure from?  Do you know the algorithm or procedure that yielded that figure?  No, you don't, because there was none.  Paulson pulled it out of his ass and anyone with a brain knew it at the time.  What does that mean to you and your assessment of the planning for the original TARP, "as proposed"?

232 I feel so special, Mike Hukabee just called me.  I told him to quit though, don't want to tie up the line for when Sarah calls.

233

you think that's something

read this

 

http://tinyurl.com/yzkafea

234 We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

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236 Now, about the whole Rush "I hope he fails" thing. . . .

Posted by: Otis Criblecoblis at October 23, 2009 05:16 PM (tPZUr)

I hope the bastard does fail. Him failing = America succeeding.

237

we just can't describe it as a "failure" they did exactly what they intended and were allowed to do

 

I don't see why not. If Al Queda "intended" to blow up the WTC, and if they were "allowed" to do so by sleeping US intellgence, that is still correctly described as a failure, from anyones point of view but Al Quedas. And I don't see why we'd take their point of view.

If the Mafia had pulled off what the titans of Wall Street have, we'd throw them in jail. Or at least try to.

238 Ace,

Well, yes, you were wrong.

I want to say kudos to you for admitting you're wrong, it takes a big man, etc., and fine, I'll say it. That's all true.

But were you really wrong.

239 they weren't paying close enough attention.... I would imagine that they were trying to scam it all.
The mind REELS at the list of criminals in congress:
Dodd, Frank, Scummer, exsen-clinton, fucking Lurch, Rangle, that shit head from detroit, and of course our new, shiny, freshley minted scumbag.... K. Gilenbrand - D-NY....

I'm not forgetting the top douche-bags.... I just don't want to start slamming my keyboard on the desk..........

240

But I won't apologize for supporting TARP as originally proposed

You've learned nothing.

Go forth an support amnesty and all other bills 'as originally proposed'. McCain-Feingold 'as originally proposed'.

241 For that matter, TARP, even as 'originally proposed', was a terrible ass idea.

242

@83: "The US government is in the process of transforming itself in to an ongoing criminal enterprise. Just my opinion. I mean, what else do you call this sort of behavior?"

Hope and change, mu'fukka.  Will of the people and all that.  History callin'.

243

#242 -- And hey, that socialized medi- I mean, the health care reform bill certainly doesn't call for a mandatory government insurance scheme that will force everyone onto the government plan and destroy the health insurance industry.  It's just a public option. 

Remember, government is like an evil strawberry sundae: it tastes good and looks good, but it'll kill you and everyone you care about while you sleep.

244 D'oh.  #243 was obviously a response for #241, which was a followup to #240, which was a response to... ah screw it.  You get the idea.

245 I assume that by 'originally proposed' we are refering to setting-up a government shell corporation and using it to buy up the bad assets (toxic if you will).  Considering that by any reasonable measure Bush had to do something, what would have been better?  Are you guys proposing that Bush have done nothing?  In the long run that may have been better, but in the short term it would've been worse.  I can see Olbermanner now shouting Bush fiddled while the US economy burned.  He probably did that anyway though.

There was some precedence in the 'originally proposed' idea from the '80s era Savings and Loan meltdown, and that wasn't great but it didn't can the whole economy.  If they had just bought the bad mortgages we wouldn't give Obama and company the excuse to gerrymander the banking/brokerage bidness.  They would just be holding a pot full of bad loans.

As it turns out Bush got punkd and we all pay the price, but doing nothing would have advanced the statist agenda more in ways that aren't as obvious.

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247 Do we need a baby wipe?

248 I wish I got me some bailouts. Then I would not have to prolong my snogging sessions with Arafat. Those were some fun times.
Still Gentlemen, Remember me every time you go to the Gas station. That Hussein fellow is my boy in every aspect possible. He might even call me "Papa" one day.

249 GE is also cashing in on the Global Warming fraud...

250

Ent, as polynikes said, your mind's made up and you're not going to listen to anybody's reasoning. I've been down this road with you before and have zero interest in going back. You never deal with the issue at hand, you ignore any reasonable point I or anybody else might make and you inevitably insult as you bluster. Forget it.

Unlike the last issue, I am certain that after 25 years trading bonds I know far more about this than you do. That doesn't excuse me for giving the government a blank check, but that wasn't the original proposal.

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