“Separate but equal” returns.

We know it is wrong, and are astonished that no one is doing anything about it!

Seven Percent Solution on April 6, 2009 at 2:09 PM

Suggestions? Yes, I’m starting to feel that while the Tea Party movement is a well intentioned thing – it’s not going to be enough to change anything in Washington. In case no one has noticed, they aren’t listening to us.

We’re not only suffering from his complete ineptitude and idiocy, we’re also and even more so suffering from the corrupt cretins he has working to move the agenda he adopted from his handlers. He doesn’t have a plan, he only skims along taking bad advice from the people that pull his strings.

The lot of them need to hang.

It will be a toss-up to see which effort the court finds more ridiculous — the bill of attainder passed by Congress with Barack Obama’s explicit endorsement, or Barack Obama’s hypocritical efforts to undermine the law he demanded in the first place.

Exactly, or “un-Constitutional” may be a better word than “ridiculous”. And while I initially supported TARP, the more I learn about how it’s being implemented, the more it reeks.

Seven Percent Solution on April 6, 2009 at 2:09 PM

That’s odd. The only fuse I’m seeing leads to Goldman Sachs, AIG/AIU, and some derivatives trader.

Lesson 1: Attacking capital does not produce recoveries

Lesson 2: Attacking people for questioning Wall Street only
turns their anger up.

You can only defend Goldman Sachs, AIG, and such for so long before people see right through it. You can only demonize Detroit so much before Cloward-Piven describes your actions completely.

That’s what’s being heard from Wall Street as people hear of their lack of accountability to the nation. It doesn’t matter if it’s Soros or Santelli. Both of them have the proverbial blood on their hands. Santelli for defending AIG’s no-renegotiate bonuses while Detroit gets raked through the coals. Soros has blood for any *provable* influence he has(not counting Horowitz’s delusions). The people are asking for Wall Street to stop acting as if they were “petulant children” who act as if they were masters of the universe.

We can reconcile our nation or let folks run interference for Wall Street. Eventually the former will happen when the latter can no longer be done. I hope that moment comes as soon as possible.

notagool on April 6, 2009 at 2:20 PM

The derivatives/CDS games at Wall Street in their simplest forms.

………. watching, as a fuse burns toward a very large pile of explosives, and a couple of fools, a.k.a. Mr. Teleprompter and Little Timmy G.,

are jumping around throwing gasoline on everything……

We know it is wrong, and are astonished that no one is doing anything about it!

There’s no way to keep all the liberal’s idiotic labels for the exact same thing straight. And there’s no reason to try.

I tohught he was a socialist marxist who wanted to “destroy control” rich people?
DeathToMediaHacks on April 6, 2009 at 12:31 PM

FIFY
dominigan on April 6, 2009 at 1:29 PM

Either one works perfectly fine. It’s been 60 years since the Socialists and Fascists were at war with each other. Now, for all practical purposes, the world’s collectivists are just one big, unhappy family.

I tohught he was a socialist marxist who wanted to “destroy control” rich people?

DeathToMediaHacks on April 6, 2009 at 12:31 PM

FIFY

Even at pennies on the dollar, investors are going to want to just cherry-pick the few remaining good loans out of the sludge.

Ha! The investors aren’t going to be the first ones picking through those “assets”. The financial institutions are already picking through and sorting the “government pile” versus what they’ll keep.

Also remember that many of these mortgages can’t be found or tied back to the property when challenged in court.

isn’t this a RICO violation? And shouldn’t the president be brought up on charges for organizing it?

Yeah. Now here’s the bad news that will make everyone think twice about actually doing about it…… the successors in line behind him:
biden
pelosi

Whats interesting is that these “toxic assets” represent Real property. Real land, real houses. Even when a house gets foreclosed on, it still exists… it still has value…. Someone is going to make a killing on this… and its all going to end up being Geithners friends….
Romeo13 on April 6, 2009 at 12:53 PM

Obama is slavering over that money, but the “Lightworker” won’t take the blame for foreclosing on a million homeowners.

The LAND always had appreciable value. The “toxic assets” were the LOANS themselves – marketed as a separate commodity. Even without Mark to Market, it’s going to be really hard to unload that bogus paper. Even at pennies on the dollar, investors are going to want to just cherry-pick the few remaining good loans out of the sludge.

Obama’s plan is to unload all this stuff, with some short-term restrictions on foreclosures and long-term restrictions on interest rates. AFTER that, he’ll pull the chocks out from under the inflation train so the homeowners will be able to pay their mortgages on a minimum wage income.

It’s a win-win situation for everyone involved. Except of course for the people who take Obama at his word. But let’s face it; whose fault is that?

Someone is going to make a killing on this… and its all going to end up being Geithners friends….

at the expense of the taxpayers.

After spending the last few weeks rabble-rousing over compensation at companies that receive TARP funds laundering the taxpayers’ money into massive payoffs for his political cronies, the Obama administration has quietly reversed course.

Fixed that for ya…

rsl775 on April 6, 2009 at 12:37 PM

Hmmmm… Toxic Asset…

Whats interesting is that these “toxic assets” represent Real property. Real land, real houses….

Even when a house gets foreclosed on, it still exists… it still has value.

Key is that last week they suspended Mark to Market… so these real assets, which all along had REAL value, can now be valued at somthing more than zero…

Someone is going to make a killing on this… and its all going to end up being Geithners friends….