They just pulled it out of their arse.

I think it's time we brought back tarring and feathering.

The Democrats pulled that number out of their asses, but didn't manage to dislodge the MSM that are still firmly entrenched up there.

Could be a Treasury official who is talking out of his arse. My understanding is the 700B represents 5% of outstanding mortgages - essentially those deemed to be toxic and not likely to be repaid. So, use the 700B to buy the assets, hold a few years and then sell.

BTW - good morning Charles - are you out east or can't sleep?

RE my #4

Never mind Charles. - I had no idea it was nearly 11:00 a.m. Where has the day gone?

I was asking myself this very question this morning on the way home.

Great God in Heavens! So we've been asked to mortgage our country and become a socialist state and they don't even know how much money they need?

re: #4 ronaldusmagnus

He's up a little early, but it's almost 8:00am on the West Coast.

The greatest trick of a Con Artists is to convince his victims that they are out of time and to decide now.

85 percent of all statistics are made up on the spot.

They made it up to be sufficiently ginormous to frighten everyone into rapid action.

More of the same 'tyranny of the urgent'...

I am reminded of what a smokejumper once said when asked how the Forestry Service fights fires. He said that they just throw money into the fire until it rains.

re: #9 Egfrow

The greatest trick of a Con Artists is to convince his victims that they are out of time and to decide now.

You are exactly right, which is why my alarm bells went off right away.

What Ward said "i just pulled it out of my ass"

I'm just going to make up random numbers on my taxes this year.

re: #9 Egfrow

The greatest trick of a Con Artists is to convince his victims that they are out of time and to decide now.

Or late night infomercials. Ever watched Billy Mays or Ronco?

re: #4 ronaldusmagnus

Could be a Treasury official who is talking out of his arse. My understanding is the 700B represents 5% of outstanding mortgages - essentially those deemed to be toxic and not likely to be repaid. So, use the 700B to buy the assets, hold a few years and then sell.

BTW - good morning Charles - are you out east or can't sleep?

My recollection is the same. Grain of salt with this "just made it up" story.

Meanwhile, early losses on the Dow this morning have been trimmed a bit. I don't think this is The Big Meltdown, just that the market had already priced in the bailout (partially) on Thursday and Friday, now has some jitters because of the political posturing and because of the Wachovia takeover and Benelux banking woes. If/when the bailout deal firms up, the markets will stabilize. Stay tuned.

How reassuring.

I am beginning to think this is the same type of rushing I heard in my teen years.......if you love me you will.

LOL

Phlogisticated air?

I sure wish these guys in congress applied the same urgency to dealing with the Iranian threat. In an amazing contrast, they seem to think they have all the time in the world to fiddle with it.

kinda like dr evil in austin powers...."700 billion dollars! Mwahahahahhaa!"

Why ask for chump change when you can really rattle the cages with 700 billion. It's not like they're playing with real money...it's our money, why should they care?

Looks like I picked the wrong week to quit drinking.

"I'm thinking of a number between one and five trillion."

Time to vote everyone of the thugs in Congress out of office and keep doing it on every election cycle until those that are in Congress (House and Senate) are all new folks. Then vote them out after two terms. This is the height of stupidity for American voters to keep doing this crap.

re: #4 ronaldusmagnus
That's what I'd heard about the $700 Billion dollar figure (which was padded for "in case of" and "unforseen consequences") but I also think it had to do with how much it would take to unfreeze the credit markets.
Big questions are: Why didn't they do away with the Community Reinvestment Act and change the regs to provide the mark to market factor.
Could be stupidity, could be nefarious - an attempt to keep from a meltdown, but not enough to help the economy out enough to help McCain out.

[Link: www.foxnews.com...]

The House is debating the bill right now

700 billion is roughly what we'll spend in Health and Human services this year.

And roughly what we'll send out in social security checks.

Does this figure include the required Democrat "hush money?"

Hmmm, too bad this isn't front page news. In 2004, Democrats, who received big donations from corrupt Fannie Mae/Freddie Mac officials. Covered up for them. Yelled at and pretty much called them racists...any one who warned of the problems. Is the entire Congressional Black Caucus corrupt?

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

re: #26 Perplexed

Time to vote everyone of the thugs in Congress out of office and keep doing it on every election cycle until those that are in Congress (House and Senate) are all new folks. Then vote them out after two terms. This is the height of stupidity for American voters to keep doing this crap.

Barney Franks and Chris Dodd MUST GO

So, if the House passes it today, will the markets rally or take another leg down?

/and what if it doesn't pass?

re: #24 Dirk Diggler

{DIRK}!

That explains the reason why the $700 billion got split into a couple of components - the initial $250 billion, the $100 billion extender, and a $350 additional should conditions warrant.

In other words, the crisis was never as bad as Paulson claimed, but it was plenty bad. Paulson was pushing for essentially a blank check, and that would also explain why Congress was blindsided by Paulson's claims that action needed to be taken immediately and with such a huge amount.

I've still got to read through the bill, but it seems that the delay added necessary safeguards and took out the pork that the Democrats added. The House GOP concerns got addressed in many respects, and their reluctance to sign off helped make this a better bill.

Is it a perfect bill? Not totally, but it is likely sufficient to improve liquidity and get the big institutions off the mat.

re: #9 Egfrow

The greatest trick of a Con Artists is to convince his victims that they are out of time and to decide now.

Come on man! Ronco is cool! "Wait, There still more!" GINSU, The In the Egg Scrambler, Non Stick pans. He's a capitalist not a shyster stealing money. You actually got something for your money. Whether it was useful or not was up to you.

re: #26 Perplexed

Time to vote everyone of the thugs in Congress out of office and keep doing it on every election cycle until those that are in Congress (House and Senate) are all new folks. Then vote them out after two terms. This is the height of stupidity for American voters to keep doing this crap.

Is it possible to impeach Congress?

It's also being announced that Citibank is buying Wachovia's banking assets.

re: #24 Dirk Diggler

Looks like I picked the wrong week to quit drinking.

I caught the end of that flick just the other day. What shocked me; how old it looks. The cockpit controls, instruments in the control tower, the sight gag where the reporters all charge into a bank of phone booths and knock it down... but A BANKD OF PHONE BOOTHS, wow, what an artifact, it's like seeing whalebone hoopskirts. I guess 1980 WAS a long time ago.

/depressed

re: #4 ronaldusmagnus

Could be a Treasury official who is talking out of his arse. My understanding is the 700B represents 5% of outstanding mortgages - essentially those deemed to be toxic and not likely to be repaid. So, use the 700B to buy the assets, hold a few years and then sell.

I had a similar impression.

Of course, I did wonder if they had an accurate total on outstanding mortgages, and clearly the 5% could only be a guesstimate... But it still would be somewhat better than just making it up out of thin air.

re: #39 Occasional Reader

Where have all the good comedy flicks gone? /

re: #19 Typicalwhitey

I am beginning to think this is the same type of rushing I heard in my teen years.......if you love me you will.

LOL

that's it:)
Perfect.

re: #35 lawhawk

Is it a perfect bill?

Yes. The Bill is perfect and inerrant, and contains all possible knowledge. Don't give me any of the Darwin crap!

re: #41 lawhawk
Congress.

re: #36 Egfrow

Come on man! Ronco is cool! "Wait, There still more!" GINSU, The In the Egg Scrambler, Non Stick pans. He's a capitalist not a shyster stealing money. You actually got something for your money. Whether it was useful or not was up to you.

popeil pocket fisherman

re: #41 lawhawk

Where have all the good comedy flicks gone? /

Tropic Thunder is pretty funny.

re: #41 lawhawk

Where have all the good comedy flicks gone? /

Which brings us to today's "what is a good safe haven for my investments?" question...

"Municipal bonds, Ted! We're talking double-A rating. Best investment in America."

You won’t believe where that $700-billion bailout figure came from.

In a somewhat different interpretation... The taxpayers' pockets?

I do honestly wonder where it is coming from. Is there a general fund with a pile-o-cash in it? Bond sales? T-Bills? "Print" it? Inflationary? Effect on US Bond rating? If we fall below AAA+ we're toast because this limp economic balloon will deflate to an empty shard of rubber fast.

re: #32 Typicalwhitey

Barney Franks and Chris Dodd MUST GO

I picture them doing the next Freecreditreport.com advertisement.

re: #37 CommonSense

Is it possible to impeach Congress?

Individually, yes, but the ratbastards cover for one another and as such the likelihood of any of them having any logical consequences is nearly the same as you and I both winning the 300 million dollar lottery.

re: #47 Occasional Reader

I'll never forget that mission over McCain Feingold.

re: #38 lawhawk

It's also being announced that Citibank is buying Wachovia's banking assets.

Of course, a bank going down is never a good thing, but this is an orderly process; a stronger bank with more diversified assets buys up the one that gambled wrong. Creative destruction, the market in action.

OR,

Yes. The Bill is perfect and inerrant, and contains all possible knowledge. Don't give me any of the Darwin crap!

Surely you can't be serious?

Premonitions of what a Democratic administration will constantly rely on to expand government and convert our economy to a socialist one.

Generations will suffer.

re: #53 Dirk Diggler

OR,

Surely you can't be serious?

Don't call him Shirley!

re: #49 CommonSense

I picture them doing the next Freecreditreport.com advertisement.

Just, please, let them not dress up as pirates.

re: #1 Ward Cleaver

They just pulled it out of their Barney Frank's arse.

There.

re: #15 arethusa

I'm just going to make up random numbers on my taxes this year.

Good plan.

I live 30 minutes from Leavenworth, I'll come visit you.

re: #29 Silhouette

700 billion is roughly what we'll spend in Health and Human Services

Speciesist!

re: #32 Typicalwhitey

Barney Franks and Chris Dodd MUST GO

Barney Franks and Chris Todd are the barest tip of the iceberg that is sinking the ship of state. First and foremost Pelosi and Reid must go. Ted Kennedy must go. Each and every sitting incumbent must go. Politics should be a period of service to your country, not a bloody career. We have far too many "legislators" that have done little else in their entire lives - Ted Kennedy and Joe Biden have both been senators since they were very young men. Like Barry, neither has really ever done anything else. Time for that to stop!

re: #49 CommonSense

I picture them doing the next Freecreditreport.com advertisement.

Barney going for 'da booty.

re: #59 taxfreekiller

Revised:

$700 Billion picked out of YOUR POCKETS, by Democratic crooks in Congress.

President Bush wants it too.

I want to be surprised about that tidbit of information, but honestly, I'm not. With the way congress has been running recently, it almost seems that everything they come up with is pulled right out of their a$$es.

re: #53 Dirk Diggler

OR,

Surely you can't be serious?

Roger, Roger.

I read somewhere that all the "toxic" mortgages combined is 500 billion. Is a "toxic" mortgage one that has already defaulted, or is it just one with crappy borrower worthiness that has a high probablility of default? I read that 3% of all mortgages in the country are in default and another 3% are 90 days behind. What % of mortgages are sub-prime? How many potential defaults are still lurking out there? Anybody know?

re: #57 kansas

... and there is still plenty of room.

Can I pick a number for my checking account's "current balance"?

/I promise not to be greedy

re: #61 galloping granny

Barney Franks and Chris Todd are the barest tip of the iceberg that is sinking the ship of state. First and foremost Pelosi and Reid must go. Ted Kennedy must go. Each and every sitting incumbent must go. Politics should be a period of service to your country, not a bloody career. We have far too many "legislators" that have done little else in their entire lives - Ted Kennedy and Joe Biden have both been senators since they were very young men. Like Barry, neither has really ever done anything else. Time for that to stop!

Forget it she's rolling...

re: #49 CommonSense

I picture them doing the next Freecreditreport.com advertisement.

Can either carry a tune in a bucket? Will Barney sing a dirge about how getting hitched to his BF ruined his credit?

It doesn't matter if this 700B piece of sht passes or not, either way, it wont do the job originally intended by Paulson (instill confidence in the market). The Asian/EU markets are still tanking - AFTER they had the opportunity to review the bill. Translation? From their perspective, it will be ineffective to stop the slide.

I've read and studied the Bill in its entirety. What I said earlier about it 'not mattering' applies only to market affect. But it very much matters in relation to the US remaining a free-market system. If it passes it will be a sad day for those of us who prefer as little govt involvement as possible.

re: #51 Peacekeeper

I'll never forget that mission over McCain Feingold.

I'll never get over Macho Grande.

What a pisser.

re: #32 Typicalwhitey

Barney Franks and Chris Dodd MUST GO

Yep.

re: #53 Dirk Diggler

OR,

Surely you can't be serious?

Yes I'm serious, and stop calling me Shirley.

re: #49 CommonSense

I picture them doing the next Freecreditreport.com advertisement.

We spent eight years sayin' the economy stank
We had the media in the tank
We tried to make Bush's numbers look sad
Now the whole deal had gone bad

F-R-E-E, that spells "Free"...

re: #64 MrSilverDragon

I want to be surprised about that tidbit of information, but honestly, I'm not. With the way congress has been running recently, it almost seems that everything they come up with is pulled right out of their a$$es.

Pretty much the case when you have people running things that they have absolutely no idea of how those things function. Sort of like letting a three yr old run a chainsaw.

re: #68 pre-Boomer Marine brat

Can I pick a number for my checking account's "current balance"?

Reminds me of when I hear how such and such an economic development will be hard on people with "fixed incomes". I always think: Man, it's a good thing my employers just pay me whatever I ask them to... I sure wouldn't want one of those "fixed incomes".

re: #10 rawmuse

85 percent of all statistics are made up on the spot.

Dammit! It's 92%. I quoted that the other day!

re: #65 Occasional Reader

Roger, Roger.

What's your vector, Victor?

re: #57 kansas

There.

If you see Lemmiwinks, LMK.

You can pull a number out of thin air, but can you actually pull $700 billion out of your arse? Not unless you're Michael Moore (ew...)

I'm going to be sick.

re: #51 Peacekeeper

I'll never forget that mission over McCain Feingold.

McCain Feingold? The problem here was Sarbanes-Oxley. It's a completely different law... altogether!

re: #80 Honorary Yooper

What's your vector, Victor?

That's impossible. They're on instruments!

re: #78 Occasional Reader

Reminds me of when I hear how such and such an economic development will be hard on people with "fixed incomes". I always think: Man, it's a good thing my employers just pay me whatever I ask them to... I sure wouldn't want one of those "fixed incomes".

If my income is fixed, how come I'm broke?

re: #77 Perplexed

Pretty much the case when you have people running things that they have absolutely no idea of how those things function. Sort of like letting a three yr old run a chainsaw.

I think I'd trust the 3 year old over congress. But I'm not bitter, not me, no, not even a little bit...

re: #85 Occasional Reader

McCain Feingold? The problem here was Sarbanes-Oxley. It's a completely different law... altogether!

It's a completely different law

re: #41 lawhawk

Where have all the good comedy flicks gone? /

Adam Sandler dropped the ball a couple years ago...
And the scary movie flicks..( are we up to SM301 yet?) are getting..um..how do you say! Old and tired in thier premises.

re: #36 Egfrow

Come on man! Ronco is cool! "Wait, There still more!" GINSU, The In the Egg Scrambler, Non Stick pans. He's a capitalist not a shyster stealing money. You actually got something for your money. Whether it was useful or not was up to you.

Ron Popeil? Genius.

re: #66 claire
It's impossible to guess how many mortgages will go into default status, because the job loss in the financial sector has really only just begun (notwithstanding Bear Stears, Goldman Sachs, Merrill Lynch, and Lehman brothers having already laid off, collectively, over 50,000 people who WERE making decent money (and, some. obscence amounts of money and who now cannot afford to carry their mortgages which were not 100% financing and were NOT sub-prime.
That's the problem with the trickle down effect - it's gonna be something closer to 6 months from now until we get a more clear picture of how many mortgages are going to go bad.
And btw, historically, less than 3% of home mortgages were in default in any one year until 2006.

re: #57 kansas

re: #1 Ward Cleaver

They just pulled it out of their Barney Frank's arse.

There.

A big number indeed.

re: #90 HoosierHoops

Adam Sandler dropped the ball a couple years ago...
And the scary movie flicks..( are we up to SM301 yet?) are getting..um..how do you say! Old and tired in thier premises.

Saw XXXVIII

re: #77 Perplexed

Pretty much the case when you have people running things that they have absolutely no idea of how those things function. Sort of like letting a three yr old run a chainsaw.

You know, I think that is why the Dems hate Sarah Palin so much. She is like the clear eyed child pointing out that the Emperor on parade is naked as a jaybird.

re: #86 Hard Right

That's impossible. They're on instruments!

The oil pressure, I forgot to check the oil pressure. When Kramer hears about this, the shit's gonna hit the fan.

re: #90 HoosierHoops

Adam Sandler dropped the ball a couple years ago...
And the scary movie flicks..( are we up to SM301 yet?) are getting..um..how do you say! Old and tired in thier premises.

1 and 4 were the only good ones. Skip all the others.

re: #91 Ward Cleaver

Ron Popeil? Genius.

Absolutely. Why, the "Pocket Fisherman" joke possibilities ALONE were comedy gold.

re: #68 pre-Boomer Marine brat

Can I pick a number for my checking account's "current balance"?

/I promise not to be greedy

I wont even go to the 'million' mark.

re: #82 davinvalkri

You can pull a number out of thin air, but can you actually pull $700 billion out of your arse? Not unless you're Michael Moore (ew...)

Hey, they aren't looking to pull that $700 billion out of their arse. They intend to pull it out of your arse and mine.

Well....

They have finally done it.....we have EQUALITY of RESULTS.....

We are all in the toilet and the government is about to hit the handle.

SOCIAL POLICY has brought us here.

VOTE THEM ALL OUT.

Call and ask them not to vote for this crappy bill.....

re: #78 Occasional Reader

Reminds me of when I hear how such and such an economic development will be hard on people with "fixed incomes". I always think: Man, it's a good thing my employers just pay me whatever I ask them to... I sure wouldn't want one of those "fixed incomes".

Yes, isn't life grand in the "fat" lane.

re: #100 galloping granny

Hey, they aren't looking to pull that $700 billion out of their arse. They intend to pull it out of your arse and mine.

With rusty hooks, no less.

re: #96 Honorary Yooper

The oil pressure, I forgot to check the oil pressure. When Kramer hears about this, the shit's gonna hit the fan.

SPLAT! Schlork. plop.

re: #84 taxfreekiller

THIS RUSH UP IS TO GET IT DONE BEFORE THE TRUTH GETS OUT ABOUT WHAT THESE NO GOOD DEMOCRAT CROOKS DID.

SLOW DOWN MAKE THEM DO HEARINGS MAKE THEM GET UNDER OATH,
THEN MAKE THEM CHOSE THE TRUTH AND JAIL, OR LIE AND PERJURY AND JAIL.

CALL
JIM JOHNSON
FRANKLIN RAINS
GORLICK
BARNY FRANK
CHRIS DODD
ANGELO OF COUNTYWIDE FRAUD

Jamie Gorelick keeps popping up in the most peculiar of places.

re: #90 HoosierHoops

And the scary movie flicks..( are we up to SM301 yet?) are getting..um..how do you say! Old and tired in thier premises.

I'd say more like, they're getting increasingly unhinged, gory and sadistic, without getting any scarier in any true, psychologically-rooted sense of the word.

Henry James' "Turn of the Screw" will get under your skin better than Saw XXXVIII will, without any descriptions of people being dismembered.

re: #84 taxfreekiller

THIS RUSH UP IS TO GET IT DONE BEFORE THE TRUTH GETS OUT ABOUT WHAT THESE NO GOOD DEMOCRAT CROOKS DID.

SLOW DOWN MAKE THEM DO HEARINGS MAKE THEM GET UNDER OATH,
THEN MAKE THEM CHOSE THE TRUTH AND JAIL, OR LIE AND PERJURY AND JAIL.

CALL
JIM JOHNSON
FRANKLIN RAINS
GORLICK
BARNY FRANK
CHRIS DODD
ANGELO OF COUNTYWIDE FRAUD

I want hearings placed into the Bill itself, this needs to be brought out Countrywide.

Dog is asleep next to me without a care in the world.

Being a loved and well treated pet must be the bee's knees.

re: #106 loppyd

Jamie Gorelick keeps popping up in the most peculiar of places.

As does Andrew Cuomo.

They're like prostate cancer.

re: #101 yesandno

Hey, all the Libs are telling me that this is all due to deregulation which started under Reagan. That is their standard line. When I even ask them, they never heard of the CRA.

re: #101 yesandno

Well....

They have finally done it.....we have EQUALITY of RESULTS.....

The only way to have everyone cross the finish line at the same time is to hobble the fast more and more, until they all equal the slowest.

And during that time, the slowest figure out they don't even have to try as hard as they have been, because no matter what, they're going to "win."

What a fabulous system. I can't imagine why it has failed every place it is tried and resulted in 200 million deaths.

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work for government?

re: #41 lawhawk

Where have all the good comedy flicks gone? /

Long time passin', Lawhawk.

heh

re: #107 Occasional Reader

I'd say more like, they're getting increasingly unhinged, gory and sadistic, without getting any scarier in any true, psychologically-rooted sense of the word.

Henry James' "Turn of the Screw" will get under your skin better than Saw XXXVIII will, without any descriptions of people being dismembered.

I've been waiting for someone to imitate SAW in real life. The fact it hasn't happened yet is a positive sign in my eyes.

re: #99 Eowyn2

I wont even go to the 'million' mark.

And I'll even leave it in the bank, in some blue-chip income-producing instruments.

/the bank will LOVE me ... if only they'll give me the chance

re: #106 loppyd

Jamie Gorelick keeps popping up in the most peculiar of places.

You mean, like, in the middle of national disasters?

Actually, correction; in the prologue to national disasters. The part were a character is saying, "this is a foolproof idea! What could possibly go wrong?".

re: #113 karmic_inquisitor

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work for government?

And to we get the Government perks? cars, jets, discounts etc.

re: #113 karmic_inquisitor

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work be employed by for government?

You have to be careful of context with the "w" word.

/

re: #2 esch

I think it's time we brought back tarring and feathering.

Torches and pitchforks!

re: #90 HoosierHoops

Adam Sandler dropped the ball a couple years ago...
And the scary movie flicks..( are we up to SM301 yet?) are getting..um..how do you say! Old and tired in thier premises.

I'm wondering about the new one that is a spoof on Mikey Moore.
I may have to see that one.

re: #85 Occasional Reader

I told you I never got over it,,,just saying the correct name...arrrgh!

re: #113 karmic_inquisitor

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work for government?

Working? None

;)

re: #91 Ward Cleaver

Ron Popeil? Genius.

True, but his lips kinda freak me out. They look like he used a lip liner to make them look bigger but he didn't fill in enough lipstick, or something.

re: #109 Fat Bastard Vegetarian

Dog is asleep next to me without a care in the world.

Being a loved and well treated pet must be the bee's knees.

I want to come back as a cute little pekingese like my dog. Everone just loves her.

Posted this toward end of last thread. Fox News announcing a Fatwa on Palin. President of Pakistan shook her (shudder) hand!

re: #118 CommonSense

And to we get the Government perks? cars, jets, discounts etc.

You're a private citizen, you'll get all the perks of a Private.

re: #113 karmic_inquisitor

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work for government?

Remember when Mr. Potter bought up all the banks in town in It's a Wonderful Life?

Until we view a house as primarily shelter and not as a "real estate investment" we will have these recurring mega-financial headaches.

— Ojoe the architect.

re: #117 Occasional Reader

You mean, like, in the middle of national disasters?

Actually, correction; in the prologue to national disasters. The part were a character is saying, "this is a foolproof idea! What could possibly go wrong?".

Yeah, we should trade her to thr Russians for a couple of cows and some beans.

re: #121 Eowyn2

I'm wondering about the new one that is a spoof on Mikey Moore.
I may have to see that one.

No one is even talking about Oliver Stone's new movie "W".
That one is on my "must miss" list.

re: #122 Peacekeeper

I told you I never got over it,,,just saying the correct name...arrrgh!

So, the hand's on the other foot now, isn't it?

re: #110 OldLineTexan
Uh, I find that a regrettable analogy.
Just sayin'.............

The part were a character is saying

[Sigh.]

re: #120 Ward Cleaver

He has created a monster

Yes he has

We shall storm the castle

Yes we shall

re: #132 Occasional Reader

So, the hand's on the other foot now, isn't it?

niAGRA FALLS!

re: #117 Occasional Reader

You mean, like, in the middle of national disasters?

Actually, correction; in the prologue to national disasters. The part were a character is saying, "this is a foolproof idea! What could possibly go wrong?".

Jamie Gorelick is like Friday the 13th movies, no matter the plot it always ends the same and badly for those involved.

Gorelick is going to be known for "failed policy".

Ham on five. Hold the Mayo.

Get all the lights we have out on the runway.

Stewardess, I speak jive.

That movie is a classic.

re: #125 Hard Right

I want to come back as a cute little pekingese like my dog. Everone just loves her.

I couldn't figure out why my son, as a teenager, always offered to walk our Benji-lookalike...then one day I saw him surrounded by all the teenage girls in the neighborhood proclaiming how cute the pup was...

re: #126 Fat Bastard Vegetarian

Posted this toward end of last thread. Fox News announcing a Fatwa on Palin. President of Pakistan shook her (shudder) hand!

Wait...syntax error I think

Fox News reported that a Fatwa has been announced against Palin....

The other way, it looked like Fox issued the Fatwa.

re: #114 Intrepid

Long time passin', Lawhawk.

heh

gone to movie vaults every one,
when will they ever learn

re: #128 Silhouette

Remember when Mr. Potter bought up all the banks in town in It's a Wonderful Life?

On the plus side: Pottersville looked like it was a hell of a lot more fun than Bedford Falls.

Things like this bailout make me wonder if the socialist have already won and we just don't know it yet.
This started back under Carter and accelerated thanks to the dems. Lord knows what else is waiting for us courtesy of the anti-American party.

re: #117 Occasional Reader

You mean, like, in the middle of national disasters?

Actually, correction; in the prologue to national disasters. The part were a character is saying, "this is a foolproof idea! What could possibly go wrong?".

I still can't get over the fact that she was a member of the 9/11 Commission.

re: #133 realwest

Sorry! We have had that experience in the family enough to where I make sure I get screened.

Yep. A billion here, a billion there. Pretty soon you're talking real money.

re: #110 OldLineTexan

As does Andrew Cuomo.

They're like prostate cancer.

I was thinking more along the lines of Herpes.

re: #140 scottishbuzzsaw

Babe magnet.

re: #116 pre-Boomer Marine brat

can I spend just a little bit?

re: #138 CommonSense

Jamie Gorelick is like Friday the 13th movies

"I shot him six times!"

-Donald Pleasance, Ft13thII, opening sequence

re: #147 ducktrapper

Yep. A billion here, a billion there. Pretty soon you're talking real money.

Here's the US Treasury now!

[Link: www.yourscrapbookplace.com...]

re: #141 Fat Bastard Vegetarian

Wait...syntax error I think

Fox News reported that a Fatwa has been announced against Palin....

The other way, it looked like Fox issued the Fatwa.

I try issuing fatwas myself, but no one pays any attention and I just end up feeling childish, ridiculous, and impotent.

Just like the mullahs, I guess.

re: #131 rawmuse

No one is even talking about Oliver Stone's new movie "W".
That one is on my "must miss" list.

Oliver stone is still relevant?

re: #138 CommonSense

Jamie Gorelick is like Friday the 13th movies, no matter the plot it always ends the same and badly for those involved.

Gorelick is going to be known for "failed policy".

Her picture will be in the dictionary next to failure in 50 years.

re: #141 Fat Bastard Vegetarian

Is Palin accused of making his package either vanish or atrophy and fall off?

re: #145 loppyd

I still can't get over the fact that she was a member of the 9/11 Commission.

Saved her from taking the oath herself, amazing.

re: #140 scottishbuzzsaw

I couldn't figure out why my son, as a teenager, always offered to walk our Benji-lookalike...then one day I saw him surrounded by all the teenage girls in the neighborhood proclaiming how cute the pup was...

I discovered that at the airport when I flew to Florida. All kinds of attractive women came to pet her. Unfortunately they were all married. Luck of the Irish...
BTW, as a small dog she was carry on!

re: #143 Occasional Reader

On the plus side: Pottersville looked like it was a hell of a lot more fun than Bedford Falls.

If only we still had Jimmy Stewart!
N-now how much do you really need, just for the next few weeks? $20 billion? 25?

Silhouette,

Remember when Mr. Potter bought up all the banks in town in It's a Wonderful Life?

I'd have much rather lived in swinging Pottersville than boring, old Bedford Falls.

re: #154 Eowyn2

Oliver stone is still relevant?

Oliver Stone was relevant?

re: #113 karmic_inquisitor

So once all of Wall Street and all banks are on the payroll of the US Government, what percentage of the working population will work for government?

Enough to vote the Dems a majority.

re: #140 scottishbuzzsaw

I couldn't figure out why my son, as a teenager, always offered to walk our Benji-lookalike...then one day I saw him surrounded by all the teenage girls in the neighborhood proclaiming how cute the pup was...

That's what I'm talking about!
/where do you think the term puppy love came from?
Heh

I hear Maxine Waters talking but she's not saying anything. Something about sub-prime exploitation, stopping foreclosures, and allowing people to keep homes they couldn't afford to buy.

re: #155 Honorary Yooper

Her picture will be in the dictionary next to failure in 50 years.

Really, what hasn't she F*ed up?

re: #157 CommonSense

Gorelick bears partial responsibility for 9/11 by her keeping the law enforcement agencies and the intelligence agencies from talking about the bad guys.

re: #145 loppyd

I still can't get over the fact that she was a member of the 9/11 Commission.

Hey, who knows better about intelligence failures than their principle authors?

/

re: #150 Eowyn2

can I spend just a little bit?

You can spend all of YOURS that you want, just keep your mitts off of MINE!

Well, regarding this whole thing,

There is always risk. You take a risk getting up in the morning, crossing the street... or sticking your face in a fan.

As the proportion of people who produce tangible 3-d things falls, and the proportion of people who push paper around rises, we get into more and more trouble.

re: #164 Who Watches the Watchmen?

I hear Maxine Waters talking but she's not saying anything. Something about sub-prime exploitation, stopping foreclosures, and allowing people to keep homes they couldn't afford to buy.

I sometimes think she's the stupidest person in Congress, but there's so much competition I can't be sure.

re: #166 Perplexed

Gorelick bears partial responsibility for 9/11 by her keeping the law enforcement agencies and the intelligence agencies from talking about the bad guys.

That and the fact the Clinton administration viewed this as a police matter.

re: #159 Peacekeeper

If only we still had Jimmy Stewart!
N-now how much do you really need, just for the next few weeks? $20 billion? 25?

Unfortunately, his "what do we have to have all these kids for, anyway?" policy has been successfully implemented in most Western countries.

re: #134 taxfreekiller

#108

yes

lots of calls for that
the Texas R's are pushing for this hard right now

Are there enough votes to even get it added?

re: #157 CommonSense

Saved her from taking the oath herself, amazing.

Remember when John Ashcroft held up the 'wall memo' during his testimony and pointed out that she wrote it? That was fine TV.

re: #165 CommonSense

Really, what hasn't she F*ed up?

I can't think of a fucking thing she hasn't.

Ya know Charles (and btw, good morning to you) I was surprised that you chose a story out of the LA Times that refers to : ""It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

"They made it up to be sufficiently ginormous to frighten everyone into rapid action"
I just wonder who this Treasury spokeswoman was?
A high up who knew what she was talking about, or someone who simply heard it from someone who heard it from someone, etc. etc.

re: #144 Hard Right

Things like this bailout make me wonder if the socialist have already won and we just don't know it yet.
This started back under Carter and accelerated thanks to the dems. Lord knows what else is waiting for us courtesy of the anti-American party.

I've always thought that once folks were made aware of the kind of policies BHO was behind that they would certainly not vote for him. Now I'm having nightmares that it's not ignorance, but in fact their desire to live in such a country...

re: #171 doppelganglander

I sometimes think she's the stupidest person in Congress, but there's so much competition I can't be sure.

She reminds me of the decerebrate frog in biology.

re: #157 CommonSense

Saved her from taking the oath herself, amazing.

It was probably by design.

re: #17 Occasional Reader

My recollection is the same. Grain of salt with this "just made it up" story.

Meanwhile, early losses on the Dow this morning have been trimmed a bit. I don't think this is The Big Meltdown, just that the market had already priced in the bailout (partially) on Thursday and Friday, now has some jitters because of the political posturing and because of the Wachovia takeover and Benelux banking woes. If/when the bailout deal firms up, the markets will stabilize. Stay tuned.

Only read up to here. What I've seen so far (FWIW):

1. The global economy was headed for a cyclical downturn, perhaps recession before this "crisis" therefore the stock markets are responding not only to the "bailout", but to normal market forces,

2. There's no way anyone can calculate the amount of indirect exposure thousands of companies have to derivatives of Socialist mortgages. It's going to take time to delever and return to sane lending practices.

3. Further bank failures/nationalization in Europe, and the assimilation of Wachovia into Citi, has weakened confidence leading to today's volatility (VIX up 14%).

4. No one has built a gallows on the front steps of the Capitol building for the filthy communists who forced these "extortionages" on the banking system. And that is the worst of all.

Therefore, don't panic. Invest in lumber and rope suppliers. :)

“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

Reminds me of how the MSM reports Obama polling results.

re: #77 Perplexed

Sort of like letting a three yr old run a chainsaw.

'Cep'in with the 3 year old, things come to an end pretty quickly.

re: #117 Occasional Reader

You mean, like, in the middle of national disasters?

Actually, correction; in the prologue to national disasters. The part were a character is saying, "this is a foolproof idea! What could possibly go wrong?".

Was her grandfather a designer of the Titanic?

re: #171 doppelganglander

I sometimes think she's the stupidest person in Congress, but there's so much competition I can't be sure.

When the cumulative common sense in Congress is below zero, the competition for "Stupidest Congress Critter" is intense. I have two Senators in the running for that prize, and one of them is running for President as well.

re: #182 Diamond Bullet

Reminds me of how the MSM reports Obama polling results.

No to mention the AP tallying deaths in Iraq.

The more I hear about the bailout plan, the less I like it, and I would like them to go back to the drawing board. But, how much time do we have? Who knows?

I keep coming back to the fact that no law is writ in stone. If we don't like this bill, we can demand that it be revised, added to, portions deleted, etc., even after it becomes law. Yes, it would be hard to do that. The best way would be to vote out most of the current Congress and bring in people who have no ownership and no stake in this bill, and stay on them until they make the necessary changes.

re: #120 Ward Cleaver

"re: #2 esch

I think it's time we brought back tarring and feathering.

Torches and pitchforks!"
Why not both ideas?! Torches and tar go together like chocolate and peanut butter!
/

re: #184 MandyManners

Was her grandfather a designer of the Titanic?

Was her father a designer of the Hindenburg?

If Congess had drafted the Ten Commandments, it woulda taken up the whole mountianside...

re: #186 pre-Boomer Marine brat

No to mention the AP tallying deaths in Iraq.

With the Iraqi civilian death totals coming from the AP the whole country should be nearly empty by now.

re: #187 tigger2005

The best way would be to vote out most of the current Congress

This is true.

re: #129 Ojoe

Until we view a house as primarily shelter and not as a "real estate investment" we will have these recurring mega-financial headaches.

Exactly!

OT
Where the heck is Coz? I need my trivia fix...
Maybe today would be a good day for money trivia..
( If you stacked a 700 Billion dollars on top of it's self it would reach to the moon..twice )
/hey..maybe it would..

re: #186 pre-Boomer Marine brat

No to mention the AP tallying deaths in Iraq.

The loss of one serviceman is one too many, Iraq casualties are historically low, and Patton is rolling in his grave to have had these few casualties.

A tribute to the soldiers, equipment and leadership.

re: #187 tigger2005

The more I hear about the bailout plan, the less I like it, and I would like them to go back to the drawing board. But, how much time do we have? Who knows?

I keep coming back to the fact that no law is writ in stone. If we don't like this bill, we can demand that it be revised, added to, portions deleted, etc., even after it becomes law. Yes, it would be hard to do that. The best way would be to vote out most of the current Congress and bring in people who have no ownership and no stake in this bill, and stay on them until they make the necessary changes.

I agree.

Why not say there is a 10 year moratorium on income taxes related to these debt instruments? There's so much money on the sidelines now that it would spring into action at the chance of getting a return tax-free.

re: #189 Honorary Yooper

Ludwig Durr designed the Hindenburg.

re: #190 Peacekeeper

If Congess had drafted the Ten Commandments, it woulda taken up the whole mountianside...

With enough loopholes and pork added to it.

re: #178 scottishbuzzsaw

I've always thought that once folks were made aware of the kind of policies BHO was behind that they would certainly not vote for him. Now I'm having nightmares that it's not ignorance, but in fact their desire to live in such a country...

Well, after decades of being told how much better the Euros have it than us, it was bound to make progress. :(

re: #184 MandyManners

Was her grandfather a designer of the Titanic?

Could be... she wanted to apply the "watertight compartments" idea to our intelligence agencies, after all.

re: #197 Ojoe

I was merely using another disaster.

There was a full page visual op-ed done in the Cleveland Plain Dealer which is absolutely the most awful moonbatty thing I've seen come out of that rag.

Check it out.

re: #185 Honorary Yooper

When the cumulative common sense in Congress is below zero, the competition for "Stupidest Congress Critter" is intense. I have two Senators in the running for that prize, and one of them is running for President as well.

And who would have thought Congress has a lower approval rating the the EVIL BIG OIL President.

Is there any way we can make Jamie Gorelick, Raines and the rest pay the money they made back? Undue enrichment or something? (Is that being socialist?)

re: #201 Honorary Yooper

Boy there is a big supply of disasters.

BBL

re: #161 Honorary Yooper

Oliver Stone was relevant?

a legend in his own mind.

re: #144 Hard Right

... accelerated thanks to the dems.

Quickest way to redistribute wealth is to depreciate the currency.

re: #173 Occasional Reader

Unfortunately, his "what do we have to have all these kids for, anyway?" policy has been successfully implemented in most Western countries.

"see daddy! teacher says everytime a bell rings, obama is telling a Lie!"

"That's right Janey! no wonder it sounds like Notre Dame cathedral at high noon Christmas mass around here!"

re: #190 Peacekeeper

If Congess had drafted the Ten Commandments, it woulda taken up the whole mountianside...

Commandment MXIII: Thou shalt not exploreth nor produceth the oil which cometh from shale

How the hell did THAT get in there?!

re: #200 Occasional Reader

LOL

re: #187 tigger2005
I'm afraid to have to say this to you but the two things that could have structurally changed our situation, elimination of the Community Reinvestment Act and the Mark to Markdown regulation were not included in this bill.
And as you say, we can always demand a do-over or re-write, but we won't get either until after November 4th when, should Obama win, the Dem's will realize just how badly THEY have fucked up.
This Congress - the 110th, BEFORE this bill is passed, had managed to increase the National Debt by something like 26% (hat tip to an LGFer on the thread from last night where Charles posted the text of the bill).

re: #10 rawmuse

85 percent of all statistics are made up on the spot.

You made that up!

re: #208 unreconstructed rebel

Quickest way to redistribute wealth is to depreciate the currency.

Yeah! Welfare!
/sarc

re: #198 Honorary Yooper

It still wouldn't be passed.

re: #190 Peacekeeper

If Congess had drafted the Ten Commandments, it woulda taken up the whole mountianside...

They got stuck on the 'Thou shall not steal' part. The debate was intense and the final draft on the compromise was 630 pages long.
That's alot of chiseling in stone

re: #190 Peacekeeper

If Congess had drafted the Ten Commandments, it woulda taken up the whole mountianside...

Commandment MMCCX: Thou shalt openeth a path between the mountains, and it shall be called the Robert Byrd Highway, and it shall be good.

I've told them 700 Billion times to NOT exaggerate!

And in totally unrelated news (or maybe not so unrelated depending on how things go) -

State asking hunters to donate game
CONCORD, N.H. (AP) New Hampshire hunters will have a chance again this year to help the hungry.
As part of the ''Hunt for the Hungry'' program, the New Hampshire Food Bank is collecting donations of whole or processed game animals to be sent to more than 350 food pantries, soup kitchens, homeless shelters and group homes around the state.
Last year, the program took in a record 3,288 pounds of deer, bear, moose, duck and other game meat.

re: #187 tigger2005

Like the communists, they only have to win once.

What ever heppens, country boy will survive. Prisons will still need guards, should my job fall by the wayside. I can grow alot on just the land around my houses. We know how to hunt and fish. Most here do I think.

Everyone knows that the Commandments are a living document

As part of the ''Hunt for the Hungry'' program, the New Hampshire Food Bank Let's be clear; they aren't actually hunting the hungry?

Stop asking questions and cough up the money.

Hmm. Guess this thread is obsolete. Remember to lock up when you leave.

re: #217 Occasional Reader

Commandment MMCCX: Thou shalt openeth a path between the mountains, and it shall be called the Robert Byrd Highway, and it shall be good.

Commandment MMCCXI: Thou shalt noy run Fannie May into the ground without thou tithe great amounts toh the Gods in Congress.

re: #195 CommonSense

The loss of one serviceman is one too many, Iraq casualties are historically low, and Patton is rolling in his grave to have had these few casualties.

A tribute to the soldiers, equipment and leadership.

In WW2 we covered up the causalities to the American public to keep up morale. Imagine if they kept a death count back then? "The death toll is now 123,343".

re: #226 Rancher

/PIMF.

They should make a movie of this whole mess. Call it Mr. Smith Gets Rolled in Washington.

re: #223 Peacekeeper

As part of the ''Hunt for the Hungry'' program, the New Hampshire Food Bank Let's be clear; they aren't actually hunting the hungry?

You've seen Surviving the Game a few too may times.

re: #203 buzzsawmonkey
Hey buzz, the real problem is that we really aren't being told that we gotta do it NOW. We've been told about this crisis for quite some time now - the fact that the idiots in Washington matched, wit for wit with the "big boys" on the Street doomed us.
Hey, they were right that it was (almost) too late for AIG, they were right on Fannie Mae and Freddie Mac (both put into Federal receivership with less than 3 days notice of any real intention to do that) they were right about Lehman; Lehman filed for bankruptcy less than 4 business days after the rumor started that they would) and they were right about WaMu - the single largest S&L Bank (assets of OVER $300 BILLION dollars) was "rumored" to be in trouble for weeks before the night the Feds took it over and sold some of the bad assets and all of the accounts to JP Morgan Chase) and they were right that Wachovia was "unstable" before their accounts and assets were sold this morning.
There comes a time when you really need to think that it's NOT a hustle.

re: #202 rightymouse

There was a full page visual op-ed done in the Cleveland Plain Dealer which is absolutely the most awful moonbatty thing I've seen come out of that rag.

Check it out.

______________________
Anyone with a Newhouse login name can add a comment. I did.

..that's a heavy load to bury....
Dig faster, deeper!

Just because the mortgage on the house won't be repaid doesn't make the value of the house go away. It's a bank thing, bad loans, bad mortgages. And where does the $700 billion come from? Simple, you just devalue the dollar, just like they do in all those third world countries that Obama talks so fondly about.

Bring back the IRS rental rules that were done away with by the very same Democrats, that changed caused the RTC to be put in place when the rules on tax deductions for rental property changed.

We can also save the $50 billion the automakers want, by just doing away with the CAFE idiotic rules. You want gas mileage, do away with the diesel nonsense, and the stupid ethanol rules. While you are at it, dump the myriad of blends which is crippling the oil refineries. -- Whoever heard of peeing in your tank to get reduced emissions.

It's simple actually, capitalism works best with the socialists in jail. When you look at the current Democrat leadership, don't you want to slap your forehead and say "WOW, now I know why Communism failed".

Yet another video of Democrats blocking, covering up and lying about growing trouble at Fanny Mae & Freddie Mac

This is a day for Kipling:

Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.

As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wobbling back to the Fire;

And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will bum,
The Gods of the Copybook Headings with terror and slaughter return.

The Treasury Department is the Bush administration, not democrats.

re: #3 NC State of Mind

The Democrats pulled that number out of their asses, but didn't manage to dislodge the MSM that are still firmly entrenched up there.

Nope. Bush administration, not democrats. Treasury Department is an executive branch entity.

The candy asses in congress ....... always trying to cover their own ass. The guys in this video are covering all our asses.

Congress - clowns to the left of me .......

That's not such a big number. Avogadro's number, that's a big number. Paulson's number, 700,000,000,000, peanuts.

Then there's that big prime just found at UCLA, with forty-three million digits, that's starting to get up there seriously.

re: #3 NC State of Mind

What kind of mental gymnastics do you have to do to be able to put this one on the Dems?

Rush is going ballistic today.

re: #234 bill-tb

When you look at the current Democrat leadership, don't you want to slap your forehead and say "WOW, now I know why Communism failed".

Watching Barney Frank lead the charge on the bailout is nauseating.

re: #241 Dan G.

What kind of mental gymnastics do you have to do to be able to put this one on the Dems?

re: #241 Dan G.

What kind of mental gymnastics do you have to do to be able to put this one on the Dems?

Hank Paulson

Hank Paulson is no Republican. Why Bush appointed him though, I have no idea.

re: #242 Syrah

Rush is going ballistic today.

Me too or I would if I wasn't at work. I feel like that photoshopped picture of 1,000 missiles heading off in all directions.

Problem is, Rush seldom understands complex financial stuff. Of course, these days, who does?

re: #243 Wendya

Watching Barney Frank lead the charge on the bailout is nauseating.

Especially since in 2005-6 he testified "There's nothing at all wrong with Fanny & Freddie"...with an FF check in his pocket.

grrr...

re: #246 ZinsWolf

Especially since in 2005-6 he testified "There's nothing at all wrong with Fanny & Freddie"...with an FF check in his pocket.

grrr...

I thought he was just happy to see you.

re: #244 NC State of Mind

Bush kept Norman Mineta, appointed that "Brownie" idiot, appointed Alberto Gonzales, tried to give us Harriet Miers on SCOTUS, defended Rumsfeld and his failing Iraq plan for at least a year too long, and now brings us the brilliance of Hank Paulson.

God help us, but I now believe most of what Bush's critics have said over the years. The man really is a moron man-child.

And now the powers that be are trying to force another moron man-child on us...and even worse, a moron man-child who hates our nation.

God help us.

maybe she will, funky chicken, maybe she will.

re: #249 funky chicken

Can't argue with that. But nonetheless, the battle lines seem to be Bush and the Dems vs. a few stalwart conservative Republicans in congress on this bill.

Truth be told though, that is an oversimplification. I was Kuncinnich coming out agianst the bailout last night.

Thanks the the modern corrupt democrat party and their pathetic surrogates in the media - the U.S. IS A BANANA REPUBLIC.

re: #251 NC State of Mind

Can't argue with that. But nonetheless, the battle lines seem to be Bush and the Dems vs. a few stalwart conservative Republicans in congress on this bill.

Truth be told though, that is an oversimplification. I was Kuncinnich coming out agianst the bailout last night.

Damn. Dennis Kucininch is a nut, but I do think the man is a patriot in his own wacky way. Yet another guy who is more of a man than the hiding boy emperor GW Bush.

re: #252 FrogMarch

Thanks the the modern corrupt democrat party and their pathetic surrogates in the media - the U.S. IS A BANANA REPUBLIC.

pathetic surrogates in the Bush administration too?

Courtesy of Rush:

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote insure the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.