Comments on: Late Late Nite FDL: Life Down Here On Earth http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/ Firedoglake weblog Fri, 17 Feb 2012 20:47:28 -0600 hourly 1 http://wordpress.org/?v=3.1.2 By: bigbrother http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339945 bigbrother Mon, 17 Mar 2008 10:01:06 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339945 <p>Krugman NYT read my mind: <a href="http://www.nytimes.com/2008/03/17/opinion/17krugman.html?_r=1&th&emc=th&oref=slogin" rel="nofollow">http://www.nytimes.com/2008/03.....ref=slogin</a></p> <p>The Resolution Trust of the 80’s Savings and Loan bailout cost us citizens $3 Trillion. Bush’s brother owned Silverado S&L which was another bailed operation.</p> <p>This Subprime is a similar scam on a grander scale. These people are flat out crooks. Where in the fuck is the god fucking damned Impeachment? Nancy Peloisi is complicit in all of this shit.</p> <p>Krugman rightly says that the Bear Stearns rescue is one of many financial institution rescues on the horizon.<br /> Who is rescuing the poor people who got fucked out of their homes 2 million that Bush won’t help but his buddies on wall street get a free fucking ride on the taxpayers backs. The 50 million people homeless, in poverty or near it get zip.<br /> I call bullshit on all Americans that don’t call for Impeachment.</p> <p>Bear has $13 Trillion in bad paper, the crime is called “paper hanging”.</p> Krugman NYT read my mind: http://www.nytimes.com/2008/03…..ref=slogin

The Resolution Trust of the 80’s Savings and Loan bailout cost us citizens $3 Trillion. Bush’s brother owned Silverado S&L which was another bailed operation.

This Subprime is a similar scam on a grander scale. These people are flat out crooks. Where in the fuck is the god fucking damned Impeachment? Nancy Peloisi is complicit in all of this shit.

Krugman rightly says that the Bear Stearns rescue is one of many financial institution rescues on the horizon.
Who is rescuing the poor people who got fucked out of their homes 2 million that Bush won’t help but his buddies on wall street get a free fucking ride on the taxpayers backs. The 50 million people homeless, in poverty or near it get zip.
I call bullshit on all Americans that don’t call for Impeachment.

Bear has $13 Trillion in bad paper, the crime is called “paper hanging”.

]]> By: Smgumby http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339931 Smgumby Mon, 17 Mar 2008 08:54:31 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339931 <p>That occured to me as well… …IOKIYAR</p> That occured to me as well… …IOKIYAR

]]> By: ThingsComeUndone http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339930 ThingsComeUndone Mon, 17 Mar 2008 08:45:36 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339930 <p>It is important, indeed crucial, that any reforms in, and adjustments to, the structure of markets and regulation not inhibit our most reliable and effective safeguards against cumulative economic failure: market flexibility and open competition.<br /> <a href="http://krugman.blogs.nytimes.com/2008/03/16/greenspan-lectures-us-again/" rel="nofollow">http://krugman.blogs.nytimes.c.....-us-again/</a></p> <p> Does Greenspan know what Bush and Helicopter Ben have done? Nationalizing all these banks and the companies that owe them money by letting the Government take their debt <strong>IS EXACTLY WHAT HE IS WARNING AGAINST BUT STILL HE SAYS NOTHING DIRECTLY AGAINST BUSH!<br /> </strong><br /> This is the housing bubble all over again!</p> It is important, indeed crucial, that any reforms in, and adjustments to, the structure of markets and regulation not inhibit our most reliable and effective safeguards against cumulative economic failure: market flexibility and open competition.
http://krugman.blogs.nytimes.c…..-us-again/

Does Greenspan know what Bush and Helicopter Ben have done? Nationalizing all these banks and the companies that owe them money by letting the Government take their debt IS EXACTLY WHAT HE IS WARNING AGAINST BUT STILL HE SAYS NOTHING DIRECTLY AGAINST BUSH!

This is the housing bubble all over again!

]]> By: Loo Hoo. http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339929 Loo Hoo. Mon, 17 Mar 2008 08:38:50 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339929 <p>What the <a href="On Thursday, however, Mr. McCain will attend a $1,000-a-plate fund-raising lunch at a home in London. His campaign has said Congress will be reimbursed for the political parts of the trip, including the fund-raiser." rel="nofollow">heck</a>?</p> <p>I thought foreigners couldn’t contribute to a pres campaign. Didn’t Clinton get knocked for having Chinese contributions?</p> What the heck?

I thought foreigners couldn’t contribute to a pres campaign. Didn’t Clinton get knocked for having Chinese contributions?

]]> By: Ed*ard Teller http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339928 Ed*ard Teller Mon, 17 Mar 2008 08:36:55 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339928 <p>Sounds right up BushCo’s alley. No doubt he’s re-reading “My Pet Bloat.”</p> Sounds right up BushCo’s alley. No doubt he’s re-reading “My Pet Bloat.”

]]> By: bigbrother http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339927 bigbrother Mon, 17 Mar 2008 08:36:42 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339927 <p>Love the exposure…hope it is Dugg</p> Love the exposure…hope it is Dugg

]]> By: ThingsComeUndone http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339926 ThingsComeUndone Mon, 17 Mar 2008 08:35:24 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339926 <p>Thank You, while I am a Lefty Bush by his failure’s is pushing the country more Left than even I might be ok with:)</p> Thank You, while I am a Lefty Bush by his failure’s is pushing the country more Left than even I might be ok with:)

]]> By: Ed*ard Teller http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339925 Ed*ard Teller Mon, 17 Mar 2008 08:34:25 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339925 <p>South Seattle, near Sea-Tac Airport - Burien/Normandy Park.</p> <p>I can even remember cokes going from a nickel to 7 cents. I’m remembering the early 1950s.</p> South Seattle, near Sea-Tac Airport – Burien/Normandy Park.

I can even remember cokes going from a nickel to 7 cents. I’m remembering the early 1950s.

]]> By: ThingsComeUndone http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339924 ThingsComeUndone Mon, 17 Mar 2008 08:32:03 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339924 <p>I know Bush and Helicopter Ben will never collect on these funny loans to banks but have they thought this through?<br /> A new administration GOP or Dem desperate for cash after the war debt Bush has left <em>us might ask for an independent accounting of the value of the homes that the Federal Reserve accepted Mortgage paper on in exchange for government T-Bills. </em><br /> Now unless home prices bounce back any such independent accounting will show that the home loans made when home prices were high do not have the same value as now.<br /> So if a bank gave the Fed $100 dollars in mortgage loan debt today in return for $100 in government T-bills but the home is now worth only $90 dollars then things get interesting.<br /> The Fed can and should ask for more collateral for its loans.<br /> If the Fed gets 51% of the Banks assets then they defacto become the bank, leaving shareholders with only the 49% remaining of the banks assets.<br /> Bush in effect is doing what Karl Marx only dreamed of…without freakin violence.<br /> Bush has set up a chain of events that could Nationalize business ownership in the Government/People.<br /> Or if the Fed never takes ownership and home prices never recoup the cost of the loans PLUS INTEREST then we get a Japanese style decade of bad economy and the Tax Payers get screwed.</p> I know Bush and Helicopter Ben will never collect on these funny loans to banks but have they thought this through?
A new administration GOP or Dem desperate for cash after the war debt Bush has left us might ask for an independent accounting of the value of the homes that the Federal Reserve accepted Mortgage paper on in exchange for government T-Bills.
Now unless home prices bounce back any such independent accounting will show that the home loans made when home prices were high do not have the same value as now.
So if a bank gave the Fed $100 dollars in mortgage loan debt today in return for $100 in government T-bills but the home is now worth only $90 dollars then things get interesting.
The Fed can and should ask for more collateral for its loans.
If the Fed gets 51% of the Banks assets then they defacto become the bank, leaving shareholders with only the 49% remaining of the banks assets.
Bush in effect is doing what Karl Marx only dreamed of…without freakin violence.
Bush has set up a chain of events that could Nationalize business ownership in the Government/People.
Or if the Fed never takes ownership and home prices never recoup the cost of the loans PLUS INTEREST then we get a Japanese style decade of bad economy and the Tax Payers get screwed.

]]> By: Loo Hoo. http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339923 Loo Hoo. Mon, 17 Mar 2008 08:28:46 +0000 http://firedoglake.com/2008/03/16/late-late-nite-fdl-life-down-here-on-earth/#comment-1339923 <p>Wow! Where did you live as a kid. Seems to me San Francisco? I’m 55, but I don’t remember prices that low for movies and such. </p> <p>TCU-You make a good point. If the taxpayers bail them out, the taxpayers should own them.</p> Wow! Where did you live as a kid. Seems to me San Francisco? I’m 55, but I don’t remember prices that low for movies and such.

TCU-You make a good point. If the taxpayers bail them out, the taxpayers should own them.

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