On Mar 16, 2009, at 12:45 AM, Kevin Callahan wrote: > > On Mar 15, 2009, at 9:14 PM, Chris Gehlker wrote: > >> Here are a couple of really interesting sites on TARP: >> <http://www.jec.senate.gov/index.cfm?FuseAction=Hearings.HearingsCalendar&ContentRecord_id=f5a98684-5056-8059-7609-1a98f3cdde3d >>> >> and >> <http://www.kansascityfed.org/speechbio/hoenigPDF/Omaha.03.06.09.pdf> >> >> The press is literally full of reports about how politicians are >> *shocked* that AIG execs pocketed some of the bailout money.
Bernanke and Obama are shocked, shocked to find gambling going on in this establishment.. >> Jesus >> Christ! These are the very guys who put their own interest ahead of >> both their stockholders and their customers. The government's plan >> seems to have been 'lets give them billions or taxpayer money and >> trust them to do the right thing'. Is there anyone on nutters who, >> given government riches with no regulation, wouldn't keep some? >> > I'd want to but I'd like to think that I wouldn't. My philosophy requires me to deny the very existence of "government riches" just money taken from us, skimmed for a percentage and "given" back. > > We just watched tonight's 60 Minutes interview with Bernanke who > claims it sickens him to bail out AIG but that it is necessary in > order to avoid a world-wide collapse of the entire financial system. Which is going to lead to one of two horrible outcomes. Either we will piss another few billion into AIG then let it collapse OR we will decide that we are in too deep to let it collapse, keep dumping money in and it will become a state run bank with a black hole where money disappears forever but is carried on the books as public debt. (Sort of like Social Security) If they don't let it fail, the system will never be able to buy it's assets, as start rebuilding. Failure is just as important part of the system as success. Otherwise, Microsoft will never be put to the sword. > > 60M never specifically asked how it was so much of the world's > financial vitality was wrested by the jaws of AIG. Damn good question. > > While an unsuspecting sympathetic character, Bernanke was the > consummate salesman (with the help of CBS) -- humbly celebrating his > Phd in economics from MIT and later chairing economics at Princeton , > his small-town, middle-class Jewish roots who, in his youth. inveighed > against the very existence of the FED. It was obvious this segment > was about building confidence in the current administration's plan - > not that perception isn't most of everything. > > Kevin All the while being questioned by congress critters that do the same thing with taxpayers money. (Which is doubly cruel since it doesn't look like the top dogs actually pay taxes..) I'd love to make this partisan, but as someone (Don't recall who) said. The difference between the Democrats and the Republicans is that one wants to skin you from the ankles up and the other from the ears down. Either way we are losing our pelts. =c= _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
