I could use $5.2 million myself. My truck has 429,000 miles on it.

God I can’t believe these fucks are just walking around after murdering our nation and we just talk about ’em, like it’s just some thing ..

These criminals stopped pretending a long time ago.

Dugg.

How about….signin’ one them there fancy petitions and handin’ it over to the Prez sayin’ we the undersigned suckers that donated $300,000,000.00 for Progressive Government would like for you to return it, pronto. I haven’t felt so stupid since I voted for ######.

signed, screwed and tatooed.

Obama picked a team that is totally working against the people that elected him. The housing foreclosures are still happening, but I haven’t seen anything that is really directed at helping the homeowners. I’ve seen so much money thrown at the bankers and financial “wizards” who continue to require the Government to beg them to take more money for which we the people get no return value, that I am totally disillusioned with Obama and the whole dem party (with a few exceptions). The DINOs in the House and Senate wouldn’t understand what’s good for the nation because their financial support depends on the big bucks donors who see themselves as the real nation and the rest of us as so much potential for more taxes to support them. I’m ready for a new political party to replace first the repugs, then a new party to replace the dumbs.

These econ advisers are clearly a major boneheaded move by Obi. He’s betting that their chaste enough to turn the mess around. I’d bet he doesn’t understand what’s happend, not that he’s isn’t smart enough to, but he probably can’t wrap his mind around the idea that these guys are criminals greedy mendacious scum, not erudite ivy league grads who are doing the heavy lifting in complex finance.

The people clearly are not thrilled with the bailout and if these revelations get legs they will become a ball and chain around this presidency. I don’t sense people like this crowd, but they are getting a pass because Obi says their kewl.

I’d like to see Obi explain some of their past performance and why that wouldn’t disqualify them from their positions. it screams conflict of interest to me.

I suppose as the economy continues to unravel and these silly stock market rallies fueled by happy talk turn to hell, there won’t be a single cause of optimism in the economy.

Construction in NYC is virtually halted with project shutting down and nothing in the pipe line except the WTC which is a disaster of a project.

Unemployment continues to increase each month. By the time Obui creates or save a few million jobs the economy will have lost 5 million or more. and those are the liar stats.

Real estate values are slipping lower each month. Credit is frozen. Companies are closing their doors left and right.

And we are passing our money, our kids money, our grand kids money to big banks through their “insurance broker” AIG. Those banks are raising rates, stalling credit and bankrupt but still sponsoring the Mets for 20 mil for 20 yrs. This does not compute.

Obi wake up. You’re bright and charming but you need to get out more.

Hey I am a victim of the economy and I owe the banks money and without a job they are not going to get a paid. Credit rating? Who gives an eff!

Need to watch Bill Moyers…on the debacles and how everyone knew about it…way worse than the S&L mess.

Did you all catch this little Summers shenanigan?

Paulsen and Geithner making fools of US citizens…Why are they still calling the shots?

Paulson’s gone, it’s Summer and Bernanke and Tim with Rubin in on the conference calls.

Why are they giving our finance governance to the wolves of wall street.

On top of everything, Geithner’s brilliant plan is going to have banks buying their toxic assets from each other in Geithner’s auction (using TARP money no doubt), inflating the prices and making taxpayers take on all the risk. Along with the elimination of mark to market, it looks like the Obama administration’s plan to “fix” the economy is to re-inflate the speculation bubble.

Anyone but me notice the timing of the release of the info?

“Take out the trash time.”

Let’s let it leak out at the end of a friday when Obi and Michelle are charming Europe all over the place and we have a mass shooting on top of it to fill up the news.

I guess it was too much to hope for that this admin. wouldn’t use the same tricks as the last one.

*sigh*

William Black is the Moyers guest; so scary, if he is correct. Have we had him on for a book discussion? Geithner and others, all doing a cover up…

it ain’t gonna work and it’s gonna cost the country and the world more than we can imagine.

we are so screwed.

Now that the secret’s out of the bag, maybe someone at Harvard’s endowment fund can tell us what part of their $8bn loss came at the hands of D.E. Shaw.

The answer is none because if you do say your fired, just check their history of any one that went against little larry. What sad school of lower learning.
jo6pac

Rahm’s guarding the hen house.

Read the automatic earth if you want to learn the truth about the economy:

http://theautomaticearth.blogspot.com/

Scary isn’t it. I knew what I was getting when I voted and not suprised at all. Then again anything better then ?
jo6pac

none of this matters, we are going to see a complete and total economic collapse.

Hey I’ll bet summers is a tax cheat too. Let’s see his tax returns. He pulled in 5MM plus??????

I’d bet big money on that.

Now Amy Goodman on Moyers and Greenwald

Summers must go.

Glen is brilliant

Now that the secret’s out of the bag, maybe someone at Harvard’s endowment fund can tell us what part of their $8bn loss came at the hands of D.E. Shaw.

Yep, this is a question that needs answering. Summers pushes derivative trades with the endowment, gets the boot from Haaavahd and then immediately lands a cushy job with DE Shaw.

Inquiring minds want to know. Oh to have a functioning press corp. What a thing that would be.

According the the “I’m the one standing between you and pitchforks” article referenced below, Larry Summers was strangely (as in ordered to be) quiet at the meeting between Obama and the Wall Street bankers.

Reportedly, Obama took the “I’m president, and you’re not” tone with the bankers.

There is something about giving a guy enough rope….

As long as we’re advocating that Summers get going, do you suppose we could persuade him to take his boy Timmy with him?

Obi’s “crackerjack” economic team’s policies will usher in a full blown depression in 4-6 months. Not to fear however, members of Congress, Obi, his economic advisors, the banksters and the plutocrats of both parties will be just fine. One can always hope they are a member of one of these august bodies.

Obama wanted this guy as Sec Tres and I think he really is Sec Tres. Geithner’s a puppet. Oh how the “progressive” blogs pushed for Summers! We stopped him at Sec, but he lives on like a ghoul.

OT: take a look at this:Stop HR 875 Action Page: http://www.peaceteam.net/action/pnum959.php

No rest for the weary.

That’s excactly what will happen.

The only way to get these two outta there is if a scandal is revealed. Tim not paying his taxes shoulda made him toast but he had the balls to stick around and they gave him a pass.

Summers has a pretty horrible past and it’s time to throw open his closet to the world.

Obi has really laid down with some creeps. He’s drunk their cool aid or he’s already been programmed by them and can’t do anything else.

It’s interesting that they had him ride in as a populist and the people are not yet seeing who he is, who he answers to. They are finding out with each pink slip and foreclosure notice.

All these funds going to Wall Street have done absolutely nothing for main street. How many mortgages could have been paid? How many jobs subsidized?

Why to banks? I think we understand that we have been rip off big time.

Obama’s choices of Summers, Geithner and the other Wall Street insiders who seem completely devoted to maintaining the shadow banking system that led to this global economic catastrophe may undo his presidency. All the rest of his efforts (i.e., promises) to change healthcare and education may come to nothing if the global economy fails.

If Obama is not capable of seeing and correcting this very serious error in judgment, he could lose his presidency.

Bingo. How can he not see this? One bullet to solve this thing and if it misfires – which seems likely – his presidency is destroyed. Geithner, Summers and the other hacks and insiders need to go. The Dream Team needs to be brought it:

Paul Krugman, Elizabeth Warren, Shelia Bair, Michael Hudson, William Black, James Galbraith, Simon Johnson, Joseph Mason, Joseph Stiglitz, Nouriel Roubini…and others.

Obama should be known as the Facilitator in Chief for allowing the coverup of the greatest financial bebachle orchestrated by the banksters and perpeptuated by his Treasury secretary. This will bring down the United States.

Obama picked a team that is totally working against the people that elected him. The housing foreclosures are still happening, but I haven’t seen anything that is really directed at helping the homeowners. I’ve seen so much money thrown at the bankers and financial “wizards” who continue to require the Government to beg them to take more money for which we the people get no return value, …

There have been some signs of the downturn bottoming out. I think the administration has perhaps feared showing stats because so many look bad. They’ve focused on jobs and the unemployment numbers are atrocious.

It would be good if we had some well-defined metrics by which to measure the successes or failure of Geithner.

I for one, for example, would really like to know what *is* happening with foreclosures (present and expected for the next couple of years). Has the rate of people losing their homes slowed? Are more and more people refinancing? How many mortgages are getting modified? Which programs are producing the most effective results for mortgage holders?

I would also like to hear more about bank loans (are they loaning?, how much?, how does it compare to previous months/quarters/years?). After all, the key reason to support the banks beyond avoiding bankruptcy was to help them make loans to keep the economy going. I’d also like to know how we’re to measure the success or failure of his plan to get the toxic assets out of banks.

I think it’s important to see the use of metrics work since we’ll also be depending upon it for our involvement in Afghanistan & Pakistan!

it looks like the Obama administration’s plan to “fix” the economy is to re-inflate the speculation bubble.

It would be preferable if they could deflate the bubble a bit as banks disgorge themselves of toxic assets — even if the gov’t. has to cover the bank losses to some extent.

Spread the pain to enable moving the toxic assets out of banks.

Thanks again, masaccio.

I wonder whether there aren’t internal clashes going on?
One would think that the FBI wants tax havens shut down, crappy accounting practices ended, and more investigative resources.

Intel and those who want ‘black ops’ and a free reign (Cheney and his acolytes) probably view tax havens and unusual accounting practices as necessary.

I’d like to see DNI Blair, plus Gen Jim Jones, on one side of the table taking on Summers on the topic of why economic transactions require transparency — when economists screw up, social relationships become disrupted, and that’s potentially dangerous.

Bottom line for me: the same economic conditions continue in play; the costs of pollution are externalized, tax laws favor elites, and none of the pricing structures or economic tax mechanisms are adequately addressing the problems of pollution and/or global warming. Change the pricing structures, and people will behave differently.

What Summers and his co-believers don’t seem to fully grasp is that their view of economics are inherently destabilizing, because their economic activities misprice things and don’t correctly assign values to goods and services. The larger the shadow banking system has become, the more serious that basic pricing problem has become.

I probably wouldn’t mind if Summers made all that money from hedge funds and speeches, IF AND ONLY IF he really made a convincing argument that his economic system assigns prices correctly. It does not. Indeed, not only does it misprice things, it relies on social behaviors (speeches, rumors, news reports, quarterly reports) to control pricing because the actual, true value of things has become lost in a Katrina of misinformation overload.

throw it out there on a friday … another punk thing that the establishment’s new head pr man, obama, has taken up from his predecessors.

Z

not only is obama not talking about getting rid of the wall street whore summers, he’s also talking of putting him in charge of the money creation machine at the federal reserve, which is also supposed to have a larger role “overseeing” wall street. obama apparently can’t think of a more qualified man for that job than this wall street whore. and wall street agrees and that seems to carry the day for the hope pimp.

What a f’ing scumbag obama is turning out to be. he almost can’t be as bad as bush but he’ll be right down there with sell-out clinton.

everybody knows that he came into a bad situation, but putting these wall street whores geithner and geithner’s cheney, summers, in charge of our economy is inexcusable and, one can only conclude, purposeful.

Z

Now that the secret’s out of the bag, maybe someone at Harvard’s endowment fund can tell us what part of their $8bn loss came at the hands of D.E. Shaw.

Good question!

Sorry I’m late but I had to put this in.
Obama knows what’s going on, OK? This was prolly his ticket to the presidency, to allow the banks and the looters to complete the job Bush started.
I can think of only three things which are possible in what Obama is doing:
(1) He’s a charming, charismatic sociopath/psychopath. He’s a real good PR man for the powers that be.See(A better definition of ‘Psychopath’) , and is such a departure from that thug Bush (who was certainly a psycho), that America is still in a stupor of relief. And Obama is just another puppet of the “people” who killed Kennedy when he got out of line.
Maybe we’re getting used to them…

(2)He really thinks what he is doing will eventually help the country, but that the “Real” economy must be saved first if he is to have a chance to help anyone else in America or the world. AND he is constrained by the “shadow government and Shadow banking” system of the world…same thing, intertwined. Perhaps he’s hoping they will allow some crumbs to fall from the table for the people and knows he must follow the agenda or else. Perhaps he’s enough of an idealist to think he can have it both ways and maybe even has been promised that once they’ve looted US, he can do some good. ( this is what I’m hoping is happening)

(3)He’s enjoying all this. And it’s just about power and fame to him. And he doesn’t give a rat’s behind for anything he promised to America as it was…or could be. (see #1 And watch that old Terminator 2 flick)This is the end game of the One World Government, where we all get to wallow in the poisonous mud and our betters fly over in their new “flying cars” while we die of various awful things

None of it sounds all that great, does it? But I’ll take #2 as the best hope we’ve got with all the evidence I see of what’s been happening for the last 30+ years and what’s happening now.
If Obama IS their puppet, bought and paid for, they really chose well, doncha think?