Drudge Retort: Red Meat for Yellow Dogs
Friday, October 10, 2008

For the first time the government since the 1930s, the U.S. will buy equity ownership in banks, an effort to help the institutions raise fresh capital from private sources. The Bush administration received the authority to make direct purchases of stock in banks in the $700 billion bailout plan passed by Congress.

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Nutcase,

On the left-side of your keyboard you'll find a key labelled "Caps Lock". You may want to press it.

"You may want to press it."

Posted by JeffJ

NO! NO! YOU"LL BLOW UP WACO!

who is poor in this country, though.

The least paid, the illegals, are much much better off than they were before.

I really don't understand your concern.

NO! NO! YOU"LL BLOW UP WACO!

#3 | Posted by Zatoichi


LOL!!! Funny flag.

"On the left-side of your keyboard you'll find a key labelled "Caps Lock". You may want to press it."

Actually Jeff, I prefer to leave my cap lock on due to it being easier on my carpal tunnel.

Now....shaddup and get me my Cap'n and Coke!!!


Nutcase

Turn down your disgust, you're offending the well heeled capitalists.

"LOL!!! Funny flag."

Posted by Eddie

I went to high school in Waco.

My parents will always be unforgiven for moving there.

The other option in 1962 was buying the Paisano Hotel in Marfa.


Oh well.

I'll get you a stiff one, Lisa.

HAHAHAHA!!!


Awwww...you remembered!!!

Hello Lisa!

Hi Phantom!!!!!!!!!!!!!!!

Wow. Thanks Pres'dent Bush! I'll be very happy with my new stocks in all dem big fancy banks.

Will I get a stawck certifcant in the mail?

Can I sell my shares to pay the mortgage?

Or is this Government that is buying the stocks a seperate entity?

I'm heading to the back page music thread Lisa. I'm about to get my groove on! careful of Jeff J.... He's trying to get you drunk! LOL

Hey, I'll meet you over there!!

Don't worry about Jeff..he's busy trying to get a stiff one!

About like buying Obama's BS. You get nothing!

I'll be very happy with my new stocks in all dem big fancy banks.

#13 | Posted by DUMPLING1 at 2008-10-10 09:35 PM | Reply

Fat Ugly Chick Who Can't Get a Man:

You should be celebrating that the government is taking over the banking system. You like to crow that markets don't work and government bureaucrats always know best

National socialism for banks = good
National socialism for people(health care) = bad

Even some of the retarded have be be muddling in their rightwingimwithstupid heads why there always seems to be plenty of money for wars, bank bailouts, and wall st. investment schemes.

But when you need to see a doctor you are on your own.

Welfare for the rich = A-OK!!!
Welfare for the rest = FUCK YOU!!!

First of all, Vermin: I'm a man.

Second of all Vermin: How the Hell do you know what I like to crow about?

Third of all, Vermin: You're a Moron.

This is probably a better solution than the crappy plan of last week. It gives taxpayers a stake in the entities they are bailing out, and provides true infusion of capital -- which is what seems to be needed for a tiny chance at keeping this whole house of cards from crashing down.

(and yes, it sucks)

Great. So Barney Frank and Chris Dodd will now be on the Board of Directors. Wonderful.

Well, they did such a good job with Fannie and Freddie and Countrywide, I'm sure they'll be a great help over at Goldman Sachs and Wells Fargo.

Bush should gain a bunch of weight and become a Quaker so when people start comparing him to Herbert Hoover he can spin it the right way...


Good. Nationalize the bastards, it'll teach 'em a lesson.

Well, they did such a good job with Fannie and Freddie and Countrywide, I'm sure they'll be a great help over at Goldman Sachs and Wells Fargo.

#21 | Posted by rightisright

It's just a liquidity infusion.

He [Paulson] said the government's stock purchases would be of nonvoting shares so that the government will not have power to run the companies.

The real concern, if any, should be about whether public policy is affected.

These government guys are not stupid. They wait for the whole market to hit a bottom to announce this. Very sneaky.

These government guys are not stupid. -- #25 | Posted by member2586

Yeah. I'm posting in my sleep again (#24).

I have moments when I wonder if the whole thing wasn't intentional. You could not cause a panic any better than they did, with "500 trades to apocalypse" announcements and the series of extraordinary measures.

So now a lame duck administration and a treasury sec'y who will be looking for a private sector job in 3 months get to pick and choose companies & banks to grace with $1.6 trillion of government largesse. (700B from the bailout and another $900B from Bernanke's loans from the Fed.)

Just to give a small idea of the of the severity.
Lehman's bonds were just auctioned off at 8.265
cent's YES pennies to the dollar. That leaves the
insurers with a $365 Billion dollar debt. It is
not clear that the insurers which are required to
to pay within the next 2 weeks will be able to pay.
This is International and it is real bad. You haven't
seen anything of decay yet.

#27 | Posted by realplus5

Yeah, but the real issue is that no one knows what the derivatives are really worth. They might have guessed a little higher if the gov't hadn't spent the last few weeks shouting "NOTHING!!"

Apart from that, they've driven consumers into a panic, so no one's buying anything.

You haven't seen anything of decay yet.

I know, I know.

"Now....shaddup and get me my Cap'n and Coke!!!"


mmmmmmmmm loves me some Cap'n and Coke... lucky for us they were some of the pork in the bailout... who says the congress doesn't have their priorities right?

The Pork plate is empty for a LONG Time!
Vote the pigs out or throw them in jail.

Wouldn't surprise me if after this IMF meeting
the markets are "locked up" until the IMF and
the global monetary regulators get at least get
a chance to stabilize the worlds financial system.
One figure I read was losses of $1.5 Trillion in problem lending.

I hope you drink your Cap'n straight up
You might want to swap to Everclear in a few months

Good. Nationalize the bastards, it'll teach 'em a lesson.

Comrade Corky truly is uniquely Unamerican.

Is there any kind of a "deal" in this $800 trillion bailout for the average guy -- the homeowner who saved for his downpayment, paid his mortage on time, made sure he got a fixed rate loan even though he had to pay a little higher in interest rates than the APR loans given to the subprimes?

I see to see nothing but bailouts for the banks who pushed and allowed these loans for non-credit worthy borrowers, with no down payment, paying intererst only payments per month, and low credit scores. Some of the subprime borrowers were not even legally in the country and didn't even have social security numbers yet were courted by the lending institutions for jumbo subprime loans.

It seems the more responsible of a person you are, the more you are penalized in this country. It's the honest homebuyer who struggles to make ends meet and pay off his mortgage every month who is the one most penalized. Sure doesn't seem fair.

Now the ones who got these subprime loans they never should have allowed to get in the first place will now be able to have their loans renegotiated at a price even lower than my own mortgage and at a much lower interest rate while the boys on Wall Street and the bankers responsible for these submprime loans which got us in this mess walk away scott free.

If fact, I haven't heard one word this last week from any of the poiticians about getting rid of deregulation and bringing back the strick rules and regulations to the banks and to Wall Street, which, had they not been disgarded through deregulation would have prevented this mess to begin with. Both political parties are equaly guilty and new laws, rules and regulations need to be drawn up and passed before another cent of out tax bailout money is handed over.

I haven't heard one word this last week from any of the poiticians about getting rid of deregulation and bringing back the strick rules and regulations to the banks and to Wall Street -- #32 CalifChris

It's stunning, isn't it?

CC, good post. The DC house and senate pigs are
too scared to say anything because they are for
the most part all a party to this. As for your
paragraphs 3,4&5 your dead on. This entire matter
is the ultimate outrage to the responsible taxpayer
and home owner. As for the next president I really
don't care because there are no promises they can
keep other than the food banks will be open.

Both parties like the Barney Franks, and the GOP got money from lobby groups in the banking industry. It's no surprise we are seeing a bailout which is nothing more than socialism.

Nobody in government seems to want to take the blame, it was also part of their fault for keep the money so loose for the banking industry to burn up.

So are they going to punish those CEOs for what they did that is costing the taxpayer billions? NO! All they are going to do is yell at them, blame them, but nothing else happens because it's a big show, that's all. The CEOs should pay for what they have done perhaps take their assets and maybe jail time.

If fact, I haven't heard one word this last week from any of the poiticians about getting rid of deregulation and bringing back the strick rules and regulations to the banks and to Wall Street, which, had they not been disgarded through deregulation would have prevented this mess to begin with.

Deregulation is not what caused this mess. An accurate description of what did can be found here:
www.lewrockwell.com

Lew Rockwell?

BWAHAHAHAHAHAHAHAHAHAHAHAHA!!!
!!!!!!!!!!

He said the government's stock purchases would be of nonvoting shares so that the government will not have power to run the companies.

This is big fu..ing mistake! With out voting shares, there is no way to influence the decisions that led us in to this fu..ing mess in the first place! The banks can continue to make bad decisions, overpay their executives and squander US tax payer money as well! What a piece of crap!

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