Glorious LooterFest II Kicks Off

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machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Glorious LooterFest II Kicks Off

LooterFest II was announced yesterday, comrades --

WASHINGTON — Republican and Democratic Senate leaders signaled on
Monday that they would support the release of the second half of the
Treasury’s $700 billion financial system bailout fund, despite anger
among many rank-and-file lawmakers over the Bush administration’s
management of the program.

As Congress prepared to
act, regulators directed thousands of banks to provide more information
about how they have used the money received through the bailout
program, responding to concern that financial institutions were
hoarding the cash rather than lending it to businesses and consumers. President-elect Barack Obama
said on Monday that like Democrats and Republicans on Capitol Hill, his
administration would demand substantially greater oversight of the
program.

President Bush on Monday formally requested the $350 billion from Congress at the urging of Mr. Obama.

http://www.nytimes.com/2009/01/13/business/economy/13econ.html?_r=1&hp

Perfect bipartisanship -- a Repugnican administration stole the
first $350 billion, a Demonrat administration prepares to steal the
next $350 billion even as it investigates the vast scandal and fraud of
the first tranche.

And as before, the Treasury doesn't actually HAVE any money. They've got to borrow or print it in the next few months.

Our kleptocracy is broke beyond repair. Congress has become too lazy to steal. We so screwed. Money mouth

SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
Re: Glorious LooterFest II Kicks Off

That's what I like about you, machinehead. You're such a cheerful fellow!  Wink

A. M.'s picture
A. M.
Status: Diamond Member (Offline)
Joined: Oct 22 2008
Posts: 2367
Re: Glorious LooterFest II Kicks Off

So how much longer until the amount of FRNs officially outweighs the amount of goods and services available to purchase?

Anyone care to speculate where we're at on the "exponential curve"?

SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
Re: Glorious LooterFest II Kicks Off
Aaron Moyer wrote:

. . .

Anyone care to speculate where we're at on the "exponential curve"?

I feel like I'm on one of those giant roller coaster rides. I've got my eyes shut Yell, I'm holding on tight, and I hope I come out ok when it's all over! Tongue out

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