Tuesday, September 23, 2008

What Shade of Lipstick for your Pig?

We can add another definition in the Urban Dictionary for MOAR - Mother Of All Ripoffs.
What a surprise. David Kurtz at TPM has a post up about this so-called financial meltdown. It links to a piece written by David Cay Johnston formerly of the NYT.

The coverage of the Paulson plan focuses on the edges, on the details. The focus
should be on the premise. And be skeptical of what gullible Congressional
leaders, most of them up before the voters in a few weeks, say after being given
a closed-door meeting on supposed horrors.

The Administration has scared the markets and some key legislative leaders, but it has not laid out a coherent, specific and compelling need for this enormous proposal, which is the equivalent of a one-time 55 percent income tax surcharge. (Instead the money will be borrowed, so ask from whom and how this much can be raised so quickly if the credit markets are nearly seized up with fear.)

Read the entire piece. I went to a talk on this today by someone I respect. These rat fuckers are trying to spook the Congress into doing something stupid so all the FOB (Friends of Bush) don’t have to give up the private jets and put their kids in public school.

Like I said yesterday (and I am NOT joking either) hang a few of these fuckers, let the rest of them live in a car for a while. Homelessness will do them some good. Maybe the kids of these criminals will begin to appreciate that earning a living doesn’t entail fucking the rest of us and that NOT breaking the law doesn’t make you a good person. How about just being honest. Its not against the law to be an asshole but that doesn’t make it the right thing to be.

What is the downside of the Dodd proposal? Paying for it. Let them sweat it out. This didn’t happen overnight. A rash and ill thought out solution could put the taxpayers on the hook for TRILLIONS of dollars. They do not know how much bad debt is out there. THEY DO NOT KNOW. Until the unwrap these products to find out what is in them, THEY DO NOT KNOW. Did I say THEY DO NOT KNOW?

The Dodd Plan has NO up side. NONE.

The Administration spooked the markets. They pulled a James A Baker III in spades. Back in the 80’s when Baker was still Treasury Sec he said something very stupid and the following Tuesday the markets tanked. AND he only said something! They underlying economy was weak but we didn’t have the tangled mess we now see. The one thing that usually causes the greatest degree of fluctuation in the markets(i.e. on the downside)is opacity. Uncertainty brings turmoil to the market and you can bet your ass the ride is going to be rough until a decision is made. The Administrtion’s solution sucks. The Dodd plan is the Administration’s pig with lipstick on it.

And from the DCJ piece I linked to above here is an excellent question. If you understand what short selling is and how it HELPS shake the market out you can understand why this is an important question to be asking these filthy criminals.

How does banning short selling of the stocks of 900 companies help the markets? (The markets are heavily biased toward the sell side, so why constrain the shorts, who often turn out to be right about stocks whose share prices has been artificially inflated.)

How is banning short selling of this growing list of companies show a commitment to “free markets,” a stated goal of this and a long lost of previous administrations?
During this short selling ban, why are there no parallel controls on insiders getting out of their positions?
Please! Answer! They won’t. The answer to most of these questions is: But … but … but … I don’t wanna be responsible for my disastrous decision making. And if we can get the taxpayers to bail us out then why should we be stupid enough to bear the cost?

The Democrats are dancing around like a bunch of fucking cowards like they did before the vote on the AUMF. But anyone who votes for a Republican after this deserves to have EVERYTHING they own repossessed (especially any cash) to help pay clean up this fucking abortion. (So much for being against abortion, eh?)

Everyone just calm the fuck down. Most of this is hysteria created by the War Criminals in the White House. Yes things are bad. But don't let them fool you. The is NOT falling.

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