QOD

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1. anon says:

   March 23, 2009 at 10:04 am

   What kind of tort reforms? I have some in mind that Republicans would hate.

2. david anderson says:

   March 23, 2009 at 10:28 am

   Yes, some of the proposed reforms on joint and serverable liability are essential. I do believe the law suit is an important part of the market because it allows free people to access the government for redress against incompetence, fraud, and lack of performance.

3. Donhusseinsquishviti says:

   March 23, 2009 at 10:33 am

   Why are they essential? A free market shouldn’t have restrictions right?

4. jason330 says:

   March 23, 2009 at 10:38 am

   Operation re-inflate the bubble is on:

   The Obama administration, striving to ease lending in the struggling economy, moved Monday with private investors to sop up bad bank assets. The administration said the program could grow to $1 trillion in purchases eventually, if it proves successful in attacking the bad-books problem that has been at the heart of the banking crisis.

   In a lengthy fact sheet, the administration said it plans to use $75 billion to $100 billion from the government’s existing $700 billion bailout program for this purpose, and it predicted participation from a broad array of investors ranging from pension funds and insurance companies to hedge funds.

   That means we get to buy all the bad assets but get no part of the upside. Whatever upside there is (if there ever is an upside) will accrue the very bankers, insurance companies and hedge funds that fucked everything up.

   Hurray Bush II !!

5. anonone says:

   March 23, 2009 at 10:45 am

   Just tack this on to anything David “the homophobe” Anderson writes:

   “as long as gay people have less rights than straight people.”

   Like this:

   “Yes, some of the proposed reforms on joint and serverable liability are essential as long as gay people have less rights than straight people.”

   or

   “I do believe the law suit is an important part of the market as long as gay people have less rights than straight people.”

   When you understand that he is against equal rights for everybody, you can ignore everything else he says.

6. Unstable Isotope says:

   March 23, 2009 at 10:53 am

   I’ve been reading various debates about the Geithner plan. Brad DeLong comes close to what the administration is probably thinking. The administration believes they need new legislation to nationalize a bank like Citi or BofA and don’t think they have the 60 votes necessary unless something like this plan is tried first.

   Brad DeLong on the Geithner plan

   Brad DeLong “I think Paul Krugman is Wrong”

   Interesting reading. I really feel like I understand what the administration is trying to do, even if I don’t agree with it.

7. anonone says:

   March 23, 2009 at 10:55 am

   You know Jason, I was trying to find out where you and I could invest in these things. I figured that, as a taxpayer, I should at least be able to have equal access to buying some of these “legacy loans,” but, alas and alack, I am only allowed to guarantee the downside for the super-duper smart financiers in case they lose their money.

   Socialize losses, privatize profits!

8. Von Cracker says:

   March 23, 2009 at 11:51 am

   I disagree with your premise; there’s no such thing as a Free Market, never has been either.

   The Oligarchs collude.

   Tort Law keeps ’em in check; so “reform” would push us farther away from a Free Market.

9. anon says:

   March 23, 2009 at 11:58 am

   Don’t let them own the word “reform.”