I say we can possibly take over Brazil in maybe less than a week. But we'll probably get stalled in Russia. One could never win a land war in Russia.<br/><br/>Sure you can win in Russia - you just have to get the jump on them by not finishing your other war first. But bring warm clothing, just in case.....
Don't know about Paul, love him one post, next post he appears to be out to lunch, maybe just human, huh. On one appearance on tv he acted as if he knew nothing of all the jobs being outsourced, make me think he needed to get out more, as in the real world where the real economy has been shot to hell.
Don't lose track of the latest outrage by Geithner to bilk the US taxpayers by having us pay 97% of the "value" of toxic trash via non-recourse loans, as reported in the New York Times. It came up at the end of the last thread and we don't want this one to slip by. This one makes Paulson's old "mother of all SIVs" idea look honest and fair - I wouldn't have thought that possible.
The Northern Alliance has always been at war with Brasilia.
Seriously, Krugman is saying that to survive this shipwreck we need to drink seawater. He doesn't have a single idea that doesn't involve more spending.
Seriously, Krugman is saying that to survive this shipwreck we need to drink seawater. He doesn't have a single idea that doesn't involve more spending.
Krugman wouldn't necessarily be a good choice. Being a good academic economist is not the same thing as being a good policymaker. The skill sets are different. Policy makers have to think, speak, and decide on their feet on the basis of incomplete data while academics have all the time they want to sit and cogitate before saying anything.
That said, I'll only have confidence that Obama is prepared to deal with the magnitude of the disaster if he replaced Geithner with someone the likes of Nouriel Roubini, James Galbraith, Joseph Stiglitz, or even John Dugan. Hell, for that matter, Obama ought to look at promoting Bernanke....
"And for those of you wondering about yours truly — I’m temperamentally unsuited, have never had any desire for the job, and probably have more influence as an outside gadfly than I ever could in DC."
Funny Joseph Stiglitz said the same thing. Personally I would prefer Stiglitz to Krugman. Krugman is too much of a political gadfly.
I'm scared sh*tless that Geither will leave/be booted and Summers will be appointed Sec'y.
Out of the frying pan into the fire? Actually, given that everything Geithner has done has been an outrage - the Citi bailout, the first toxic loan proposal, and now this horror - I'm not sure Summers would be much worse. But Geithner is somewhat sympathetic to improved regulation, while Summers was instrumental in killing Glass-Steagal, so maybe you're right.
Volker's inflation obsession caused the early 80s meltdown. This does not inspire confidence.
We need someone with the brains and ideological clarity to see that the underlying problem is structural and not merely a matter of banking solvency or liquidity.
The biggest problem facing the US economy from 1970 until the early 1980s WAS inflation. That's why Volcker was obsessed with it.
You think he is still obsessed with it today? No. He is just bold enough to take the necessary actions to deal with the solvency crisis and the overly leveraged economy.
My pick for Secretary of the Treasury is #1Ron Paul, #2Gerald Celente, #3Marc Faber, #4Peter Shiff, or #5Jim Rogers. There you go BO take your pick of one of these fine choice of people who will not continue to destroy my country.
Hey, Summers is already more suited chromosonally than 50% of the human race - what makes you think he can't rise to above average, at least in his own, mathematically superior brain.
The world's leading crop scientists issued a stark warning that a deadly airborne fungus could devastate wheat harvests in poor countries and lead to famines and civil unrest over significant regions of central Asia and Africa.
Ug99 — so called because it was first seen in Uganda in 1999 — is a new variety of an old crop disease called "stem rust", which has already spread on the wind from Africa to Iran. It is particularly alarming because it can infect crops in just a few hours and vast clouds of invisible spores can be carried by the wind for hundreds of miles. ...
I have never heard BO ever say the word Love in any of his speeches, and probably never will. Politicians don't know the meaning of the word Love, They only spew hate and fear out of their mouthes. God help us.
elLurko says:Today, 10:47:04 PM PDT
Dawg,
Just ask yourself: who would I rather have cleaning up banks? Geithner or Krugman? Krugman at least acknowledges the situation we're in.
Right now? Krugman. Hands down. But at the risk of sounding unforgivably egotistical I identify with Krugman's temperamentally unsuited comment. The temptation of wielding power and authority especially in circumstances of carrying very little responsibility would send technician personality types to pursue best courses straight to destruction.
In a more rational world we wouldn't be talking about preserving the banking system. We'd be well on our way to replacing them.
And I wholeheartedly agree with "replacing them". God, what a monumental task though. I'm pretty sure our political system isn't equipped. Bums me out.
the only person suitable for the job at this point is someone who is very smart in terms of systems and relationships that happens to have a terminal disease that gives them an expected 2 years to live
look at the actions Bernanke is taking, by any measure simply gutsy -- whether or not you agree with them
need someone who considers all possibilities. the entire set without their personal emotions playing any role. that's why you need someone with a terminal disease
Ron Paul talks a good game and I'm sure he believes most of it, but I saw him on Real Time with Bill Mahr.
He doesn't really get the strengths of good government, a little too Randian-good as a loyal opposition, but the idea of him actually running government scares the crap out of me.
The American economy has less than 6 months to live.
Bernanke signed America's economic death warrant a couple of days ago in response to Ron Paul's bill to audit the Federal Reserve. The federal Reserve Transparency Act, bill H.R. 1207, has 28 cosponsors and growing. Campaign For Liberty — HR 1207 Update
Please complete this petition urging your Congressman to cosponsor and a seek roll-call vote on Ron Paul’s Audit the Fed Bill -- the first step toward ENDING THE FEDERAL RESERVE once and for all!
No, can't give him gutsy. That would apply only if the system was salvageable by dangerous heroics.
Unfortunately, the paradigm has shifted, and he comes off merely as a fool engaging in a desperate, last-chance gamble to salvage what once was and never again shall be.
I know a lot of folks have kvetched about the possible fall-out of Bernanke's print-athon, but could anybody play Ben's-advocate for a second here? What would BB say about the risks to treasuries? Hyperinflation?
Guess I can buy that. However, from that perspective the points he gains for guts are more than offset by those he loses for having disconnected with reality.
if ron paul took control of the military thru popular sentiment and led a coupdetat in washington would totally rock. but instead we get silly hollywood populist ravings. if he really really believed what he said, and worked to get political support ... i think hed be dead like jfk. hes either a gatekeeper or a clownish tool they can use as a counterpoint in the media circus we see everyday. i dont even think theres a conspiracy anymore.. just reckless damage control while we sit here amazed in paralysis at the destruction of our economy.
"On one appearance on tv he acted as if he knew nothing of all the jobs being outsourced, make me think he needed to get out more, as in the real world where the real economy has been shot to hell."
Paul gets out. He just boogied with Swedish Royalty!
That said, the man, for all his wit and alleged "conscience," is a neoliberal at heart. Of course he isn't troubled by outsourcing.
As a replacement for Obama's terrible pick in Geithner, he'd be a somewhat more imaginative fluffer for big capital as it flags between money shots.
Then the Dems would have to find a new cranky, amusing spirit to help them differentiate themselves -- on paper! -- from the Republicans. That's already becoming a harder task than saving the US economy!
There are really only two names that make any kind of sense at all for the position and that's Dean Baker or Michael Hudson... you know, two guys that actually called the bubble years ago and have a fucking clue? Why tap someone with the nerve to acknowledge that the major banks are insolvent and should be forced into receivership, nationalized, then run as public utilities? Oh, I get it... the far better idea is to bury future generations of American taxpayers with 12 trillion dollars (so far) in debt to cover the reckless bets of Wall Street speculators deemed "too big to fail".
Surely there has to be some way to turn the US "economy" around despite the obvious difficulty of American consumers (we no longer produce anything of course) being tapped out and drowning in debt. The fact that they've seen their real wages stagnate or decline over the past 30 years doesn't help matters but surely Timmy Boy, Summers, Rubin, and Bernacke--the Team Obama brain trust--have a viable solution. Oh yes, encourage Americans to assume more debt! Brilliant. How can we lose?
anybody can be bought. even ron paul. i have yet to see any credible politician that is an untouchable. theres always a lobby interest somewhere...and alot of hot air. there is no george bailey or mr smith goes to washington. you just have varying degrees of corruption. a bunch of judas in shepherds clothing.
also the most annoying thing ive seen on the net these days is the so called 'anti bailout' movement... which seems to be a disguised john birch type movement to grab some new blood for donations. if these ppl would be clear on there agenda i wouldnt mind so much.. but instead i see all these noisy wannabe with the people sites that are literally viral commercials for some libertarian/heritage foundation leanings. bugs me because all this money spent is wasted on more politcal noise when we really need less politics.
But we can only barely take a joke about who should be our Treasury Sec'y. We really want to discuss who should be our Treasury Secretary in instead of the hapless Timothy G.
My vote is for Paul Volcker. Don't worry if he needs to take midafternoon naps. That will allow Larry S time to get done what Volcker told him to get done in the morning.
AIG's 71 interlocking domestic U.S. insurance subsidiaries are in hock to each other to an astonishing degree. The vast majority of AIG's reinsurance contracts are negotiated internally among its affiliates. Based on the state insurance regulators' own reports detailing unanswered questions, the tally in losses could be hundreds of billions of dollars more than AIG is now acknowledging.
It seems at least possible that Martin Armstrong was right about the Mar 19, 2009 date.
The House passed their "tax" bill on that date. More importantly, the people, with their "pitchforks" began to make it very uncomfortable to work at a TARPed bank. If AIG/Fannie/Freddie/Citi etc employees quit, these companies may no longer be able to function. This will lead to the destabilization Bernanke says he wants to avoid regardless of any action the government or the Fed will take.
The People might just have taken matters into their own hands.
who said i was for the bailouts?!? isnt it obvious EVERYBODY IN AMERICA is against the bailouts?!? i just HATE that ppl use it for there own agendas. we're in a serious possible collapse of our economy and all these political wingnutes come out of the woodwork...left right center libertarian, commie whatever. its a circus.
and patientrenter dont worry, you can have your tea party. im sure geithner will think twice before bailing out his buddies. because a tea party will show them who really controls america! viva santelli!
Oh please the company that ultimately pays Santelli's salary (GE) took tarp money and is selling bonds guaranteed by the FDIC. As soon as he resigns in protest from his nice cushy job because he objects to his company's bad behavior I'll pay attention.
As for who should be the next Treasury Secretary: I think my local bookmaker Joey 'Broken Nose' Feducci. He also serves as a capo in an otherwise well known family which is best left nameless. Joey also is the enforcer for this family, sort of a Luca Brasi type. Known for his swift and relentless pursuit and collection any and all indebtedness, he has left a trail of widows, orphans and missing persons over the last twenty five years. Elevating him to cabinet status will probably help his reputation, although the family he works for might be concerned, image and all that. It may well be interesting to have a film crew follow him through the confirmation process. I wonder if any senator would vote against him.....And later, sort of like a "Cops" show, same crew could film him whacking banksters and back office twenty somethings as he cleans up behind Tammay.
meh, but really... who is john galt er rick santelli? stupid.
the circus media better wise up because the jaded mindset will turn to rage as it crosses party lines and idealogies. who cares what bush did or what obama says or what ron paul believes when millions worry about unemployment checks and food stamps.
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would now like to sing a little song for all his fans, and it goes something like this:
Benny... Benny... give me your answer... do. I'm.. half CRAZY... all for the love... of you. It won't be a ... stylish marriage. I can't... AFFORD... ANYTHING TO EAT... MUCH LESS A FRACKIN CARRIAGE!!! But you'll look sweet... --BOT SO HUNGRY!-- upon the seat... Of a HOOPAJOOPS built for two... families.
I'm sorry Ben, I can't let you do that...
Rally mode + Printing Press == does not compute... does not-- com--- com... puttttrrrrhgh.
The thing that bothers me about Krugman, when he was
asked about the people that created this horrific financial nightmare, he said forget them,why waste the time to ferret them out.
The way I see it, I want the assets of those responsible. I want them held accountable. Screw the phrase crime pays. I need to know that these bastards
are left with nothing more than a jail cell with a fresh bowl of slop.
I liked the song a lot. Not sure that PK is well suited to the Sof T job, probably better in Summers spot. Stigliz would be excellent for S of T. Timmy seems in over his head, prob a better #2 than #1.
Krugman is a leftard. Obama needs to reconnect with his Special Olympic voters. By appointing Krugman, maybe this can be seen as transparent and change all in one.
Who woulda thought "Change" would make retard jokes politically correct again? Time to watch Something About Mary again.
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/6672203270787140226
Russia met representatives of China, India and Brazil ahead of the G20 finance ministers meeting last week, to discuss a new currency
An Error has occured | Reuters.com
I say we can possibly take over Brazil in maybe less than a week. But we'll probably get stalled in Russia. One could never win a land war in Russia.
No need to win a war in Russia... as we fall back to the great depression they fall to the stone age.
This is almost the time for deux ex machina
I say we can possibly take over Brazil in maybe less than a week. But we'll probably get stalled in Russia. One could never win a land war in Russia.<br/><br/>Sure you can win in Russia - you just have to get the jump on them by not finishing your other war first. But bring warm clothing, just in case.....
Don't know about Paul, love him one post, next post he appears to be out to lunch, maybe just human, huh. On one appearance on tv he acted as if he knew nothing of all the jobs being outsourced, make me think he needed to get out more, as in the real world where the real economy has been shot to hell.
Good night and good luck.
CR,
Really? You like Krugman that much? No doubts that this might all be the final gasp of Keynesian debt-addiction?
Cheers,
prat
Krugman certainly isn't perfect, but he'd be vastly better than Geithner.
the final gasp of Keynesian debt-addiction
We can only dream.
Are you kidding? Krugman is a buffoon. Marginally better than Geithner, but that's like being marginally better than a pile of doo-doo.
This comment thread is like the Special Olympics.
Don't lose track of the latest outrage by Geithner to bilk the US taxpayers by having us pay 97% of the "value" of toxic trash via non-recourse loans, as reported in the New York Times. It came up at the end of the last thread and we don't want this one to slip by. This one makes Paulson's old "mother of all SIVs" idea look honest and fair - I wouldn't have thought that possible.
God, I miss preview. I had to delete the last comment twice before I got the html right. :-[
The Northern Alliance has always been at war with Brasilia.
Seriously, Krugman is saying that to survive this shipwreck we need to drink seawater. He doesn't have a single idea that doesn't involve more spending.
couldn't agree more... Unfortunately his type have O's ear.
Seriously, Krugman is saying that to survive this shipwreck we need to drink seawater. He doesn't have a single idea that doesn't involve more spending.
Doesn't being opposed to the Iraq War count?
I thought this was funny ... It's Friday night!
best to all.
funny?
i went to bed last night after watching the 2009 ffa interview of krugman, and i thought jeeze this guy shoulda been our treasury secretary
Dear CR: Thanks for the comic relief!
(It was a pretty bad song though)
A weekend hasn't felt like a weekend for the last 6 months.
Krugman wouldn't necessarily be a good choice. Being a good academic economist is not the same thing as being a good policymaker. The skill sets are different. Policy makers have to think, speak, and decide on their feet on the basis of incomplete data while academics have all the time they want to sit and cogitate before saying anything.
That said, I'll only have confidence that Obama is prepared to deal with the magnitude of the disaster if he replaced Geithner with someone the likes of Nouriel Roubini, James Galbraith, Joseph Stiglitz, or even John Dugan. Hell, for that matter, Obama ought to look at promoting Bernanke....
Bernanke is no dim.
I highly revere his intellect. I don't think he is left with much of a choice (Obama admin). Only calling it as I see it.
For Friday Night, I would have liked a parody of BB saying AIG made him very angry (and his slamming the phone down "many times")
Why not Volcker? He's been there and done that. Oh, and he's got a pair.
I sure wish Paul Volker was 15 years younger....
I'm scared sh*tless that Geither will leave/be booted and Summers will be appointed Sec'y.
Volcker at 110 would do a better job than Geithner and Krugman put together.
"And for those of you wondering about yours truly — I’m temperamentally unsuited, have never had any desire for the job, and probably have more influence as an outside gadfly than I ever could in DC."
Funny Joseph Stiglitz said the same thing. Personally I would prefer Stiglitz to Krugman. Krugman is too much of a political gadfly.
I'm scared sh*tless that Geither will leave/be booted and Summers will be appointed Sec'y.
Out of the frying pan into the fire? Actually, given that everything Geithner has done has been an outrage - the Citi bailout, the first toxic loan proposal, and now this horror - I'm not sure Summers would be much worse. But Geithner is somewhat sympathetic to improved regulation, while Summers was instrumental in killing Glass-Steagal, so maybe you're right.
Dawg,
Just ask yourself: who would I rather have cleaning up banks? Geithner or Krugman? Krugman at least acknowledges the situation we're in.
Volker's inflation obsession caused the early 80s meltdown. This does not inspire confidence.
We need someone with the brains and ideological clarity to see that the underlying problem is structural and not merely a matter of banking solvency or liquidity.
The biggest problem facing the US economy from 1970 until the early 1980s WAS inflation. That's why Volcker was obsessed with it.
You think he is still obsessed with it today? No. He is just bold enough to take the necessary actions to deal with the solvency crisis and the overly leveraged economy.
Since this is politics, some information posted in the credit union section (credit unions=fail).
A bit of information about US CENTRAL FEDERAL CREDIT UNION POLITICAL ACTION COMMITTEE (U.S. CENTRAL PAC) -
Us Central Federal Credit Union Political Action Committee (U.S. Central Pac) 2008 - Money, Politics, Committees, Elections in 2008
Seems a mixed laundry list of dirty socks and unmentionables, but it also appears they thought the Democrats would win in 2008.
Great. Now this stupid song is gonna be in my head and im gonna be walking around all day tomorrow singing it.
My pick for Secretary of the Treasury is #1Ron Paul, #2Gerald Celente, #3Marc Faber, #4Peter Shiff, or #5Jim Rogers. There you go BO take your pick of one of these fine choice of people who will not continue to destroy my country.
Hey, Summers is already more suited chromosonally than 50% of the human race - what makes you think he can't rise to above average, at least in his own, mathematically superior brain.
The Latest from Yves:
‘Ponzimonium’ Coming?
'Stem rust' fungus threatens global wheat harvest
The world's leading crop scientists issued a stark warning that a deadly airborne fungus could devastate wheat harvests in poor countries and lead to famines and civil unrest over significant regions of central Asia and Africa.
Ug99 — so called because it was first seen in Uganda in 1999 — is a new variety of an old crop disease called "stem rust", which has already spread on the wind from Africa to Iran. It is particularly alarming because it can infect crops in just a few hours and vast clouds of invisible spores can be carried by the wind for hundreds of miles. ...
I have never heard BO ever say the word Love in any of his speeches, and probably never will. Politicians don't know the meaning of the word Love, They only spew hate and fear out of their mouthes. God help us.
He says love right here:
Atlanta Metro News | ajc.com
elLurko says:Today, 10:47:04 PM PDT
Dawg,
Just ask yourself: who would I rather have cleaning up banks? Geithner or Krugman? Krugman at least acknowledges the situation we're in.
Right now? Krugman. Hands down. But at the risk of sounding unforgivably egotistical I identify with Krugman's temperamentally unsuited comment. The temptation of wielding power and authority especially in circumstances of carrying very little responsibility would send technician personality types to pursue best courses straight to destruction.
In a more rational world we wouldn't be talking about preserving the banking system. We'd be well on our way to replacing them.
Dawg,
I can see that.
And I wholeheartedly agree with "replacing them". God, what a monumental task though. I'm pretty sure our political system isn't equipped. Bums me out.
the only person suitable for the job at this point is someone who is very smart in terms of systems and relationships that happens to have a terminal disease that gives them an expected 2 years to live
look at the actions Bernanke is taking, by any measure simply gutsy -- whether or not you agree with them
need someone who considers all possibilities. the entire set without their personal emotions playing any role. that's why you need someone with a terminal disease
Ron Paul is a doctor. He delivered over 4000 babies.
Ron Paul knows about life and death, intimatly.
Ron Paul talks a good game and I'm sure he believes most of it, but I saw him on Real Time with Bill Mahr.
He doesn't really get the strengths of good government, a little too Randian-good as a loyal opposition, but the idea of him actually running government scares the crap out of me.
BERNANKE'S HOME EQUITY LOANS WILL SAVE THE COUNTRY
The American economy has less than 6 months to live.
Bernanke signed America's economic death warrant a couple of days ago in response to Ron Paul's bill to audit the Federal Reserve. The federal Reserve Transparency Act, bill H.R. 1207, has 28 cosponsors and growing.
Campaign For Liberty — HR 1207 Update
Please complete this petition urging your Congressman to cosponsor and a seek roll-call vote on Ron Paul’s Audit the Fed Bill -- the first step toward ENDING THE FEDERAL RESERVE once and for all!
Link to Petition;
Campaign For Liberty — Petition Congress to Audit the Federal Reserve
EHP,
No, can't give him gutsy. That would apply only if the system was salvageable by dangerous heroics.
Unfortunately, the paradigm has shifted, and he comes off merely as a fool engaging in a desperate, last-chance gamble to salvage what once was and never again shall be.
from his perspective, definitely gutsy and guts are only relevant to the owner's perspective
Heck, if we're going to audit things, what about Fort Knox???
I know a lot of folks have kvetched about the possible fall-out of Bernanke's print-athon, but could anybody play Ben's-advocate for a second here? What would BB say about the risks to treasuries? Hyperinflation?
EHP,
Guess I can buy that. However, from that perspective the points he gains for guts are more than offset by those he loses for having disconnected with reality.
if ron paul took control of the military thru popular sentiment and led a coupdetat in washington would totally rock. but instead we get silly hollywood populist ravings. if he really really believed what he said, and worked to get political support ... i think hed be dead like jfk. hes either a gatekeeper or a clownish tool they can use as a counterpoint in the media circus we see everyday. i dont even think theres a conspiracy anymore.. just reckless damage control while we sit here amazed in paralysis at the destruction of our economy.
The Latest from Yves:
Links and Quick Takes 3/21/09
"On one appearance on tv he acted as if he knew nothing of all the jobs being outsourced, make me think he needed to get out more, as in the real world where the real economy has been shot to hell."
Paul gets out. He just boogied with Swedish Royalty!
That said, the man, for all his wit and alleged "conscience," is a neoliberal at heart. Of course he isn't troubled by outsourcing.
As a replacement for Obama's terrible pick in Geithner, he'd be a somewhat more imaginative fluffer for big capital as it flags between money shots.
Then the Dems would have to find a new cranky, amusing spirit to help them differentiate themselves -- on paper! -- from the Republicans. That's already becoming a harder task than saving the US economy!
I think Umair Haque knows what needs to be done, but he's toiling away in a different part of Cambridge than some of the other more popular names.
There are really only two names that make any kind of sense at all for the position and that's Dean Baker or Michael Hudson... you know, two guys that actually called the bubble years ago and have a fucking clue? Why tap someone with the nerve to acknowledge that the major banks are insolvent and should be forced into receivership, nationalized, then run as public utilities? Oh, I get it... the far better idea is to bury future generations of American taxpayers with 12 trillion dollars (so far) in debt to cover the reckless bets of Wall Street speculators deemed "too big to fail".
Surely there has to be some way to turn the US "economy" around despite the obvious difficulty of American consumers (we no longer produce anything of course) being tapped out and drowning in debt. The fact that they've seen their real wages stagnate or decline over the past 30 years doesn't help matters but surely Timmy Boy, Summers, Rubin, and Bernacke--the Team Obama brain trust--have a viable solution. Oh yes, encourage Americans to assume more debt! Brilliant. How can we lose?
anybody can be bought. even ron paul. i have yet to see any credible politician that is an untouchable. theres always a lobby interest somewhere...and alot of hot air. there is no george bailey or mr smith goes to washington. you just have varying degrees of corruption. a bunch of judas in shepherds clothing.
also the most annoying thing ive seen on the net these days is the so called 'anti bailout' movement... which seems to be a disguised john birch type movement to grab some new blood for donations. if these ppl would be clear on there agenda i wouldnt mind so much.. but instead i see all these noisy wannabe with the people sites that are literally viral commercials for some libertarian/heritage foundation leanings. bugs me because all this money spent is wasted on more politcal noise when we really need less politics.
blah, I am very pleased that you approve of bailouts. Please send me a check for $500,000. I 'lost' that much in the stock market crash.
Oh, wait! You mean that you like bailouts as long as you're benefiting or someone else is paying. How surprising!
CR, appreciate the humor.
But we can only barely take a joke about who should be our Treasury Sec'y. We really want to discuss who should be our Treasury Secretary in instead of the hapless Timothy G.
My vote is for Paul Volcker. Don't worry if he needs to take midafternoon naps. That will allow Larry S time to get done what Volcker told him to get done in the morning.
AIG's 71 interlocking domestic U.S. insurance subsidiaries are in hock to each other to an astonishing degree. The vast majority of AIG's reinsurance contracts are negotiated internally among its affiliates. Based on the state insurance regulators' own reports detailing unanswered questions, the tally in losses could be hundreds of billions of dollars more than AIG is now acknowledging.
Jake, that's a serious allegation. Provide the evidence, please.
It seems at least possible that Martin Armstrong was right about the Mar 19, 2009 date.
The House passed their "tax" bill on that date. More importantly, the people, with their "pitchforks" began to make it very uncomfortable to work at a TARPed bank. If AIG/Fannie/Freddie/Citi etc employees quit, these companies may no longer be able to function. This will lead to the destabilization Bernanke says he wants to avoid regardless of any action the government or the Fed will take.
The People might just have taken matters into their own hands.
who said i was for the bailouts?!? isnt it obvious EVERYBODY IN AMERICA is against the bailouts?!? i just HATE that ppl use it for there own agendas. we're in a serious possible collapse of our economy and all these political wingnutes come out of the woodwork...left right center libertarian, commie whatever. its a circus.
and patientrenter dont worry, you can have your tea party. im sure geithner will think twice before bailing out his buddies. because a tea party will show them who really controls america! viva santelli!
Oh please the company that ultimately pays Santelli's salary (GE) took tarp money and is selling bonds guaranteed by the FDIC. As soon as he resigns in protest from his nice cushy job because he objects to his company's bad behavior I'll pay attention.
"i'm exceptionallly fucked up"
Yes, but are you as fucked up as The Economy?
As for who should be the next Treasury Secretary: I think my local bookmaker Joey 'Broken Nose' Feducci. He also serves as a capo in an otherwise well known family which is best left nameless. Joey also is the enforcer for this family, sort of a Luca Brasi type. Known for his swift and relentless pursuit and collection any and all indebtedness, he has left a trail of widows, orphans and missing persons over the last twenty five years. Elevating him to cabinet status will probably help his reputation, although the family he works for might be concerned, image and all that. It may well be interesting to have a film crew follow him through the confirmation process. I wonder if any senator would vote against him.....And later, sort of like a "Cops" show, same crew could film him whacking banksters and back office twenty somethings as he cleans up behind Tammay.
meh, but really... who is john galt er rick santelli? stupid.
the circus media better wise up because the jaded mindset will turn to rage as it crosses party lines and idealogies. who cares what bush did or what obama says or what ron paul believes when millions worry about unemployment checks and food stamps.
New Thread: Geithner's Toxic Asset Plan
http://www.calculatedriskblog.com/2009/03/geithners-toxic-asset-plan.html ( 0 comments ...You could be FIRST! )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would now like to sing a little song for all his fans, and it goes something like this:
Benny... Benny... give me your answer... do.
I'm.. half CRAZY... all for the love... of you.
It won't be a ... stylish marriage.
I can't... AFFORD... ANYTHING TO EAT... MUCH LESS A FRACKIN CARRIAGE!!!
But you'll look sweet... --BOT SO HUNGRY!-- upon the seat...
Of a HOOPAJOOPS built for two... families.
I'm sorry Ben, I can't let you do that...
Rally mode + Printing Press == does not compute... does not-- com--- com... puttttrrrrhgh.
--Your systemic-failure-crashing bot
CRbot: Call me HAL.
The video would have been better if others were presented along, shiller, roubini, Meredith ??, Ron Paul, etc..
Talk about a "blah blah blah" weasel - he's the one "singing." Scaping the bottom of the barrel here.
If we can't have Krugman, how about Dean Baker?
:'(
Bubbles! sweet.
The thing that bothers me about Krugman, when he was
asked about the people that created this horrific financial nightmare, he said forget them,why waste the time to ferret them out.
The way I see it, I want the assets of those responsible. I want them held accountable. Screw the phrase crime pays. I need to know that these bastards
are left with nothing more than a jail cell with a fresh bowl of slop.
Hillarious (the late night song;-)
SOL and 28 Ho hum's
I liked the song a lot. Not sure that PK is well suited to the Sof T job, probably better in Summers spot. Stigliz would be excellent for S of T. Timmy seems in over his head, prob a better #2 than #1.
Loved the song.
http://imgs.xkcd.com/comics/1000_times.png
Read Rollingstone Magazine's expose titled The Takeover and get the true breakdown of the AIG bailout.
5 star read...
The Big Takeover : Rolling Stone
Krugman is a leftard. Obama needs to reconnect with his Special Olympic voters. By appointing Krugman, maybe this can be seen as transparent and change all in one.
Who woulda thought "Change" would make retard jokes politically correct again? Time to watch Something About Mary again.