Rolling US Economy Into The Shitbin Thread

I'd love to know what the add-ons are.

Cocaine and strippers, from the look of things. Repubs hold US AND A over barrel for pork, details at 11:00.

maybe someone posted this already but you can see the whole bill here
http://banking.senate.gov/public/index.cfm?Fuseaction=Articles.Detail&Article_id=76b1aea4-39b8-404f-b3cd-f8b6c46e3b14&Month=10&Year=2008

its worth mentioning that the add ons arent what got the billed passed - the gop wanted to pass this thing the whole time - they were just trying to trick the dems into doing it themselves so as to run against it

otm

they had ads already bought on the day on the first vote attacking the dems for passing it, ffs

wait, source? i missed that story.

it was upthread here, I thought. fucked if I can see it now. will dig later.

yeah ice cream otm. honestly there is plenty about this bailout package that sucks but its best case scenario to get it passed at this point. I was not looking forward to seeing state and local governments completely collapse, small banks and businesses go under, etc.

dems shouldve just passed their own socialist equity stake demanding package and fuck the gop

yeah that woulda been nice. woulda been vetoed too.

Maybe I'm naive, but it doesn't seem as if this is simply Democrats vs. Republicans. The magnitude and singularity of the bill, in my opinion, temporarily redrew the political landscape. However briefly, it jolted folks awake, which added a certain uncertainty to the process.

no theres no way bush vetos any bailout - real question is if you couldve gotten enough dems on board

xp

I really liked this video that Andrew Sullivan posted about the companies that empty out the abandoned foreclosed homes in southern California:

http://andrewsullivan.theatlantic.com/the_daily_dish/2008/10/memories.html

Yeah, watched that this morning, but the real impact of that clip is the combination of breezy local-news 'in depth' reporting and what the hell they're actually talking about.

I don't buy for a second that they throw everything away once the cameras are off

Totally. They should do a Cribs-like feature on those workers' homes!

o nevermind, it just said crewmembers are encouraged to keep anything they like

ebay 2nd career

nothing tells the california part of this story like the fact that arnold had to budget for cleanup efforts to prevent the stagnant water in hundreds of abandoned homes' swimming pools from becoming massive breeding vats for disease-carrying mosquitoes

when your economic stupidity boils over into a public health issue it's probably safe to say there's more than a few appointees who are comatose at the wheel

its worth mentioning that the add ons arent what got the billed passed - the gop wanted to pass this thing the whole time - they were just trying to trick the dems into doing it themselves so as to run against it
― joe six pak (ice crӕm)

uhh another request for the source

anybody check out the marketbeat summary/transcript of the con call with roubini and ritholtz? barry's calling the s&p at three figures, with a 15-1 PE ratio. and both of them basically saying as long as people keep buying on the day-after of these dow dips, you know we've got further to fall. hilarious.

and wheres the source for this please:
they had ads already bought on the day on the first vote attacking the dems for passing it

http://www.politico.com/blogs/bensmith/0908/RNC_ad_was_cut_sent_out_before_package_failed.html

hyperlink attempt failed but there

all yr source are belong to captianlorax

oh look how happy the markets are with the bailout vote! yayyy!

too many posts, hope this wasn't posted previously -- a rep from Ohio plays Wall Street Bailout

ebay 2nd career

― joe six pak (ice crӕm), Friday, October 3, 2008 3:57 PM (1 hour ago) Bookmark

I'll bet the housing boom also created a severe glut of shit like flat screen TVs and leather sofas, which were often purchased on home equity loans.

Ha!!

I love the headlines today that put this all on Bush.
There is officially nobody left who thinks this was a good idea.

I hope Paulson and Bernanke get hit by trucks and splattered all over the road.

I want to believe that Bernanke will turn out alright if we can isolate him from the bad kids somehow. He's no dummy. But, yannow, good luck.

he's no dummy? what the fuck is he, then?

a victim of the fucking peter principle?

He's an economist, and at heart, it seems. He's a statistician. Gotta serve somebody.

he's a fucking incompetent. you are on the wrong thread.

Little starbursts of light.

xxpost Though that doesn't near explain why the "stock injection" model wasn't even on the table for discussion.

you are on the wrong thread.

I just got here, hang on. Lemme read more of it and get the tone right.

No, I mean you should go start your own, on ILNFL, about how Matt Leinart should be astarting for Arizona, playoff contenders

lol "astarting"

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/03/AR2008100303309.html

xpost No, you see, that would be worse.

Too little inflation was the problem, not too much, Greenspan and Bernanke insisted. Easy money and low interest rates were the answer. American consumers pinched themselves. Could they really borrow more than 100 percent of the price of a house at an unimaginably low teaser rate without so much as presenting proof of employment? Indeed, they could.

bernanke has been one of the bad kids from the beginning, he's a shitbag, and he's not cut out for the job. he's helped make it worse, and he's not got the decency to step down, nor does paulson, nor does cox, which is a good sign that they are each worthy of punitive measures, of which my preference I believe has been made clear

lol look at what's in my clipboard:

Too little inflation was the problem, not too much, Greenspan and Bernanke insisted. Easy money and low interest rates were the answer.

What I was thinking, though, was not "shitbag," but "academic." He'd be better off with his equations and computer models. Which, btw, often do what our economy is doing right now.

http://x86code.com/bsod.bmp

c on bsod?

People predicting another great depression are ignoring the fact that this one will be way more sexy.

Taking stock for a minute here.

Thanks to the recently passed "rescue" bill, the budget for 2009 will most likely be over $1 trillion in the red!! (That, in my sober opinion, is worth more than one exclamation mark.) Unemployment is rising and will probably keep rising rapidly in the next 12 months. Consumer goods inflation in the past year has been the highest in decades. Trillions of dollars of phony asset value is disappearing from balance sheets. There is no certainty that we've seen the end of bank failures, insurance company failures and paper asset deflation. The Fed funds rate is already at 2%, with little leeway to fall further.

I am thinking the porn industry has the only viable business model left.