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Yeah, its a shame we didn't have a president Hoover to make you happy.
http://www.powerlineblog.com/archive.../03/023092.phpI think Joe Biden's comments the other day are akin to the hyperbole we were fed last year over the dire cir stances at hand with an AIG failure...
Slow Joe said Obama, "has inherited the most difficult first 100 days of any president, I would argue, including Franklin Roosevelt."
Franklin Roosevelt? How about Abe Lincoln? Harry Truman? Ronald Reagan? But let's stay with Roosevelt. Comparisons between the present economy and the Great Depression are overblown, to say the least, as this chart showing job losses in the Depression and six subsequent recessions reflects:
In view of his recent change in tone, it seems likely that if Obama could have a do-over, he would rethink the "Never let a crisis go to waste!" strategy. So far, stirring up over-the-top hysteria about the economy hasn't worked out too well for the new administration.
They fooled us all on the AIG bailout but, as a great president once said, "Fool me once..."
Thief.
Liar.
Yeah, its a shame we didn't have a president Hoover to make you happy.
And, the thievery never gets old.
The idea that trillions in cash were dispensed more or less without condition, involves us right now. We pay premium prices for or loan against unmarketable crap. We already have. We will again. Probably over and over again.
As for your question about taking, I guess it depends on who you are. Indymac and Washington Mutual were taken over by the FDIC. AIG is notionally nationalized (80%)but shows some signs of ins utional moxie and independence. Some insolvent broker-dealers were reconfigured as bank receivers. The banks themselves do not want any official interference, but are taking public money with both hands for their private hoards. I'd be kinda surprised to see a straight up RTC-style clearing house directly after the brief fuss over nationalization, even though it may be exactly what we need.
Last edited by Winehole23; 03-18-2009 at 07:16 PM.
The Road, by Cormac McCarthy.
Didn't Oprah get burned by the Drug Addict with "A Million Little Pieces" and those Auschwitz lovers?
Why should I be impressed by an Oprah Book Club Selection?
I don't think we'd be any worse off today, than we are, if AIG had been left to it's own devices. And, I've heard nothing but vague apocolyptic claims to the contrary.
It was Spitzer who got the head/founder/builder of AIG kicked out. (Hank Greenberg, IIRC)
My guess is that Wall St, in revenge, got the WH/Feds to bring down Spitzer for whoring.
Don't be thrown off. McCarthy is for real. Did you not see No Country for Old Men?
Or this, from Suttree? pp 31-34.
Yep. Spitzer trumped up a conflict of interest complaint and had Greenberg pushed out. Chances are pretty good none of this would ever have happened if Greenberg had stayed in place, as AIG's investments were pretty conservative and safe before he was replaced.
So you were against Bush's bailout.
At some point we can all just assume that Yoni cribs without attribution. It's his MO.
I think most of us arrived at that point long, long ago, but I guess it still has to be pointed out for the noobs. It's a public service.
I encourage everyone to do it.At some point we can all just assume that Yoni cribs without attribution. It's his MO.
I think most of us arrived at that point long, long ago, but I guess it still has to be pointed out for the noobs. It's a public service.
lol
MannyIsGod is making himself out to be the ExtraStout of financial crises.
i would have been more like no country for old men
marriott spitzer
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