Tag: Bush’s Fubar Economy
700 billion plan in the works for months
Are you kidding me? I am so over this White House. Fratto (White House Deputy Press Secretary) said it would be “unthinkable” for Congress not to pass legislation this week, asserting the result would be a “very, very serious situation” for the U.S. economy. “It shouldn’t take much analysis to remember what happened last week, […]
Why Is The Bailout Urgent?
Seriously. I’ve been reading the usual stuff and haven’t seen anyone who addresses the urgency of this bailout. What is so catastrophic out there that it needs to be taken care of this week? Apparently , and they’ve got lost of exposure too. So why so fast? I admit to not being a fan of […]
Has anyone ever seen anything like this?
0% of the public polled feel the economy is getting better.
Dodd Takes Steps in the Right Direction
See here. I haven’t read the draft (and won’t until later today) but this looks like a start to remediating the Bush blank check. This likely doesn’t go as far as I’d like, but take a look for yourselves.
Won’t Get Fooled Again
A reminder of the consequences of cooperating with BushCo when they say their pants are on fire:
Bailout Nation — Hell No, Mr. Paulson
As Jason notes below (and in my comment) the scope of this bailout just gets bigger. Now we apparently are going to be on the hook for foreign banks (whose expose to this toxic stuff is worse than many of our own banks) and for the credit card debt your cousin Stewart racked up on […]
Tales of the Economic Fallout
Earlier in the week, Duffy asked to be pointed to some writing that might be in favor of or justify the current bailouts. I haven’t read anything other than fairly glib variations on the “too big to fail” theme, but here is some reading (and listening) of how we got here and some thinking that […]
Bailout Nation — The Power Grab
Unstable Isotope pointed us to this draft of the bailout legislation earlier today. Look closely (highlighting mine): (b) Necessary Actions.–The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation: (1) appointing such employees as may be required to carry out the […]
Leadership
Obama is talking about addressing the issues (with his financial team in attendance) and urging some bipartisanship, while McCain is whining and contributing to his epic flail. [youtube]http://www.youtube.com/watch?v=pmfeesYmx1Y&eurl=http://www.jedreport.com/[/youtube] This is a brilliant side-by-side comparison (by The Jed report) of these two candidates addressing the current troubles. And, frankly, McCain comes across much like his compatriots […]
Bailout Nation, Part What?
I’m losing track now. GM wants in on the action now. This is a company that can’t sell cars that consumers want, has leadership that thinks Climate Change is a crock and: Since GM CEO Rick Wagoner believes the oil spike was an act of God, however, it’s no wonder that GM and Ford were […]
The
I’m just posting this entry from Barry Ritholtz at The Big Picture in its entirety, because it is that good. From Mr. Ritholtz: “I am having a hard time keeping up with all of the bailouts and special facilities created for dealing with this crisis. Am I missing any? – Bear Stearns – Economic Stimulus […]
The Legacy of Conservatism
This is not funny. Pressure is building on the pristine “AAA” rating of the United States after a federal bailout of American International Group Inc, the chairman of Standard & Poor’s sovereign ratings committee said on Wednesday. This is what happens when the people entrusted to run your government play by Nigerian email scam rules.
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