Covered By A TARP

Tim Geithner and Larry Summers have engaged in a massive redistribution of wealth, from the bottom to the top. They saved nothing but the nominal and relative worth of the wealthiest Americans from destruction. The rest of US are well and truly fucked, if you think not, read on...

"Dr. Pitchfork, an iconoclast who writes at Daily Bail ", has a brilliant dismemberment of TARP and Timmy over at : 

naked capitalism

In “5 Myths About TARP,” Tim Geithner joins Steve Rattner and Herb Allison in the parade of Washington insiders who have gone out of their way to tout the great success of TARP, calling it the “most effective government program in recent memory.” If you think the Timmy doth protest too much, methinks you’re exactly right.
Geithner starts by rehearsing the same, tiresome narrative we’ve heard a thousand times:

[TARP] was essential to averting a second Great Depression, stabilizing a collapsing financial system, protecting the savings of Americans and restoring the flow of credit that is the oxygen of the economy. And it helped achieve all that at a lower cost than anyone expected.

Then Geithner proceeds to debunk some “myths” about TARP.

*****

The message of the bailouts, like Geithner’s message to us, is clear. The guys at the top get served first, at our expense. We are expected to be grateful that people like Geithner have bailed them out. And the buck stops nowhere.

This article was originally posted at The Daily Bail, to which site I was helpfully pointed by Yves Smith at Naked Capitalism.

Thoughts On Replication

Robosigners rule!



(HT) Nadir Times

Nerds and Such

From Ka-Troo.

Blog, what Blog?

Balloon Juice had an American Idol moment tonight. DougJ, the business and economics editor for Balloon Juice had a WWF type blogroll:

I’ve been meaning to do this for a while and now seems like a good time, in light of commenter ellaesther/Emily Hauser’s recent triumphs....do you have a blog? I’d like to add all the Balloon-Juice readers’ blogs to my RSS reader, I have about a dozen so far.

I must have surfed 50-60 blogs, but most contained old posts. I added 3 to my RSS reader:

• Angry Black Lady Chronicles
• Upper Left
• Nadir Times

DADT or Why the Fuck You Wanna Know?

 

I think we are approaching this "Don't Ask, Don't Tell" thing from the wrong perspective.

Rather than repeal it, we should extend it to cover straight people, too. Here are some examples where this policy would be extremely handy:

• Should a friendly police officer inquire as to ones degree of inebriation, "DADT, ossifer."
• Upon arriving home, after posting bail for aforementioned inebriation, and your wife inquiring about your paycheck, "DADT, but we're eating in."
• When the preacher asks if you'll be attending the Revival on Saturday, your regular poker night, "DADT, but let the chips fall where they may, Padre."
• When your buddies start asking about 'roids after your bowling average jumps 43 pins, "DADT, it's all in the wrist."
• When your senator is asked how he/she will vote on DADT, (all together, now), "DADT".

This Is A Big F*****g Deal!

10 30 10 "Rally to Restore Sanity"

Stephen Colbert David Ippolito - "See You in Washington, Colbert!" 

 

Stewart and Colbert plan DC Rally; South Carolina plots preemptive counter-protest

William Moultrie reports on a counter demonstration at the diSCust.com:

Columbia – In an emergency conference call, a hastily assembled coalition of South Carolina’s politicians, bloggers, newspaper reporters, strategists, and inmates crafted plans to protest a newly announced rally by Jon Stewart and Stephen Colbert.

...

The Rally to Preemptively Restore Honor to South Carolina will be held on the same day as the Stewart/Colbert rally, October 30, but due to National Park Service rules about overlapping events, the South Carolina rally will begin at 4 a.m.
“We’ll be all be meeting at the corner of South Carolina Ave. and Independence Ave. and carpooling to the Lincoln Memorial,” said U.S. Senate Candidate Alvin Greene, who was asked to publicize and organize the event because of his proven method of  frugal yet effective campaigning. “We picked that location for symbolic reasons, but unfortunately we didn’t realize how far it would be to walk from there to the mall, so please call me if you’re planning on driving and you have a bus or minivan.”

...

The preliminary speaking list includes:

• Governor Mark “Hiking the Trail” Sanford
• Lt. Governor André “Don’t Feed the Poor” Bauer
• Former Treasurer Thomas “convicted of conspiracy to possess with intent to distribute cocaine” Ravenel
• Former State School Board chair Kristin “alleged erotic fiction author” Maguire
• Sen. Jim “Drink the Koolaid” DeMint
• Sen. Lindsey “Goes both ways (on political issues)” Graham
• Rep. Joe “YOU LIE!” Wilson
• Former Rep. Arthur “NAACP = Nat. Assn. of Retarded People” Ravenel
• State Sen. Nikki “So transparent you see right through her” Haley
• State Sen. Jakie “Nikki’s a raghead” Knotts
• U.S. Senate Candidate Alvin “I did too campaign” Greene
• Dr. George “I was trying to fix the gay kid” Rekers
• Kaitlin “Miss Teen South Carolina” Upton

*****

Maybe we should have let them secede.