TARP
For six days straight, Bank of America’s websites have been hammered. Across this struggling nation, people couldn’t get online to pay their bills or attempt to balance their shrinking balances. BofA offered no explanation for this, for six long days as its customers tried to access their financial accounts immediately after BofA announced an evil [...]
Republicans who were hoping to make votes in favor of health care a defining line of attack in the midterm elections are finding that votes in favor of TARP are proving much more effective — which is unfortunate for them, because many of them voted for it. Still, it’s a healthy sign when citizens question [...]
Right now, valiant BP scientists are top-killing the heck of out of the all-spewing oil well in the Gulf of Mexico! Yup, they’re sure giving their all at killing … the top … of the thing … in a top kill. Which involves stone-cold pumping mud into the durn hole, we guess. Will it work? [...]
Because he is a Maverick and changes his opinions, like a Maverick, whenever America needs John McCain to save it, John McCain is now against John McCain’s sterling leadership (I WILL SUSPEND MY CAMPAIGN etc. etc.) in the wake of September 2008′s Wall Street meltdown. (Also, he has a primary coming up against some teabagger [...]
ANOTHER IDEA THE SENATE CAN CONVERT INTO A 100% CAP GAINS TAX CUT! “WASHINGTON — President Obama is likely to propose a fee on financial institutions to help reduce the federal deficit when he releases his budget plans in February, although the details remain unresolved, according to administration officials.” The likely resolved details will be [...]
SCALING BACK AMBITIONS, HEH: What the banks and mortgage giants killed in the House’s latest bullshit Financial Regulation bill was the “Cram-down” legislation, which would have let bankruptcy judges force lenders to accept not only lower, fixed interest rates on underwater home loans, but also give judges the power to reduce the principal to reflect [...]
Obama is just pretending to have any sway within the Obama/Hamid Karzai powercouple. [New York Times] A bunch of people in the Army were very encouraging of Nidal Hasan’s religious phase, and some even suggested he take college courses about Islam. Should we purge the Army of anyone who self-identifies as a “supportive friend” too?? [...]
For many months now, people have been asking why Ken Lewis still had his job as chairman and CEO of Bank of America, and for many months the answer has been “Because,” but now we have a new answer: as of last night he is only the CEO, and who knows how much longer he’ll [...]
Whoa, weird, Fox Business News has a delightful scoop today! They won a suit against the Treasury to release 10,000 pages in TARP-related government records, and for the good of mankind have already found a couple of funny anecdotes revealing cartoonish confusion and conflict. We’re starting to understand the mechanics of how AIG rips off [...]
Do you know what is happening to your America, America? Communism! Yesterday our friends at the Congressional Oversight Panel for TARP invited a crazy European monster to our country to outline the nuclear option — “The Swedish Model” — for fixing our banks. Boo! Go “fix” yourself!
Wonkette Operative “Michael C” reports that this TARP-bailout hearing at the House is providing endless lulz. Why is Illinois Rep. Pete Roskam jabbering about tapping people’s backsides and the “greased chute of government”? Because he’s a Republican! It’s all about ass.
Hedge Funds That Bankrupted Chrysler Are Terrified Of Internet Commenters
by Jim Newell
Many blame last week’s Chrysler bankruptcy on the fact that Chrysler is a shit company. They are wrong! It was really a group of hedge funds, holding large swaths of Chrysler debt, that rejected the administration’s settlement offer of a 33 cents-on-the-dollar payout and thus threw the company into its current quickie “nooner” of a [...]