The Stimulus Package Unleashed

[Conan71]

Haven't you been seeing the "margin" ads on your computer?

"I got my $12,000 stimulus check, click here to see how you can get yours!"

Yeah, it's that simple, really!!!  Ain't gonna havta worry 'bout payin' my mortgage, ain't gonna have to worry 'bout puttin' gas in my car....

[Gaspar]

quote:Originally posted by Conan71

Haven't you been seeing the "margin" ads on your computer?

"I got my $12,000 stimulus check, click here to see how you can get yours!"

Yeah, it's that simple, really!!!  Ain't gonna havta worry 'bout payin' my mortgage, ain't gonna have to worry 'bout puttin' gas in my car....

And next month when the banks are nationalized, they will no longer charge overdraft fees!

They will also have none of my money.

[Gaspar]

Did anyone note how CNN took Greenspan out of context yesterday before The President's speech?

CNN REPORTER "President Obama gets some unlikely support from former Federal Reserve Chairman Alan Greenspan. . . Greenspan thinks it would be a good idea to nationalize banking. . ."

Greenspan's actual words were "The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman, has told the Financial Times. In an interview, Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers. "It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring," he said. "I understand that once in a hundred years this is what you do.  

"You would have to be very careful about imposing any loss on senior creditors of any bank taken under government control because it could impact the senior debt of all other banks," he said. "This is a credit crisis and it is essential to preserve an anchor for the financing of the system. That anchor is the senior debt."

From "Least bad option" to "Good Idea"
LOL

[cannon_fodder]

WOW.

I admit to being fooled Gaspar.  I didn't spend the time to look into myself.  That's a pretty good stretch.

The clarified statement is more believable.

::puts on tinfoil hat::

Certainly makes you realize what direction they want to do.  If the press really is in Obama's back pocket and are being fed stories, the deck is certainly stacked in favor of a nationalization effort now.  Though, as Greenspan said, portions of such a move may be the least bad option.

::takes hat off::

Thus far, it seems Obama is an economic moderate.  I hope that trend continues for the economies sake.  It would be easy to lose our way in the midst of a downturn and destroy what enabled us to build up our economy in the first place.

[guido911]

quote:Originally posted by Conan71

Haven't you been seeing the "margin" ads on your computer?

"I got my $12,000 stimulus check, click here to see how you can get yours!"

Yeah, it's that simple, really!!!  Ain't gonna havta worry 'bout payin' my mortgage, ain't gonna have to worry 'bout puttin' gas in my car....

http://www.youtube.com/watch?v=P36x8rTb3jI&feature=related

[nathanm]

quote:Originally posted by Gaspar


From "Least bad option" to "Good Idea"
LOL

Sometimes, the least bad idea is the best one you've got.

I'm still pretty pissed about WaMu being seized when they were still well capitalized. Especially since the bank's holding company had enough money on deposit with the bank to outbid JP Morgan's paltry $1.9 billion offer. There were quite a few sweetheart deals given away under the guise of crisis.

Outright theft of within-regulation institutions irks me a lot more than temporary nationalization of institutions who are actually already undercapitalized.

Not that we should really need to do that at the moment. The market price for MBS is artificially low right now due to liquidity issues and general fear in the market. They're generally priced well below the NPV of the funds they are expected to generate over the lifetime of the securities. That's making balance sheets look terrible, but isn't generating any sort of cash flow problem.

[Conan71]

quote:Originally posted by guido911

quote:Originally posted by Conan71

Haven't you been seeing the "margin" ads on your computer?

"I got my $12,000 stimulus check, click here to see how you can get yours!"

Yeah, it's that simple, really!!!  Ain't gonna havta worry 'bout payin' my mortgage, ain't gonna have to worry 'bout puttin' gas in my car....

http://www.youtube.com/watch?v=P36x8rTb3jI&feature=related

If I help you, will you help me?

[Gaspar]

quote:Originally posted by Conan71

Haven't you been seeing the "margin" ads on your computer?

"I got my $12,000 stimulus check, click here to see how you can get yours!"

Yeah, it's that simple, really!!!  Ain't gonna havta worry 'bout payin' my mortgage, ain't gonna have to worry 'bout puttin' gas in my car....

That aint stimulus.  Lets play "Follow The Money."

Lobbyists for the cable industry were among the first to work the stimulus bill.

Paul Allen is the CEO of Microsoft and a major stockholder in Charter Communications.  The bill offers companies like Allen's debt forgiveness on foreign debt until the year 2014.  This will save Allen about $1 billion in taxes.

Now that's stimulus.

[guido911]

Who remembers this quote from Obama before the stimulus bill was signed: "Jim, the head of Caterpillar, said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off."
Well, care to guess what company just laid off nearly 2500 employees? 

To be fair, the president of Cat did state after the fact that there would be more layoffs before rehiring would begin. The question is, when?

[FOTD]

The devil will offer you some hope here....



Greatest threat to Obama spending plan? Democrats

http://www.mcclatchydc.com/227/story/64003.html

"If all 47 Blue Dogs joined the House's 178 Republicans, they could deny Democratic leaders a House majority of 218. "

[guido911]

Obamabots going door-to-door to sell you Obama's budget:

http://www.youtube.com/watch?v=9EglMVfUB74

Hilarity to ensue. For those that do not know where the "Yes we can!" mantra in that video is from, well, let's walk down memory lane:

http://www.youtube.com/watch?v=E1QiSi0_kTo

[USRufnex]

Continental National Bank of Illinois is too big to fail.

[guido911]

More stimulus/bailout requested by Obama--it's only $50 Billion this time. Whew.

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/12/AR2010061204152.html?hpid=topnews

[nathanm]

More stimulus/bailout requested by Obama--it's only $50 Billion this time. Whew.

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/12/AR2010061204152.html?hpid=topnews

The sub-1% inflation numbers are an excellent argument in favor of more stimulus, and expose the folks calling for hyperinflation as what they really are.

[Gaspar]

The sub-1% inflation numbers are an excellent argument in favor of more stimulus, and expose the folks calling for hyperinflation as what they really are.

Not even worth dignifying.