Who are you watching for your election night coverage?

The Dims had control of both the Senate and the House as well as the Presidency. They could barely pass Obamacare with this control and had to bribe and strong arm enough of their own to get it passed. His call for bipartisanship is empty and reflects his arrogance and tone deafness.

60+ Republicans got jobs yesterday. This is the most effective employment program that BHO has rolled out.

The Dims had control of both the Senate and the House as well as the Presidency. They could barely pass Obamacare with this control and had to bribe and strong arm enough of their own to get it passed. His call for bipartisanship is empty and reflects his arrogance and tone deafness.

60+ Republicans got jobs yesterday. This is the most effective employment program that BHO has rolled out. Originally Posted by gnadfly

Not so fast...if it was up to TOTUS (Teleprompter of the United States), we'd have a bi-monthly census....

60+ Republicans got jobs yesterday. This is the most effective employment program that BHO has rolled out. Originally Posted by gnadfly

Effective for who? You think they ain't going to spend like drunken sailors? You think they are going to vote for an across the board spending cut? You think they are going to go after Federal subsidies to banks............

The Dims sure weren't...and I don't see you bitchin' about it!

After listening to the Anointed One's press conference yesterday, it appears that he sees the most pressing issue in this country as building electric cars. He mentioned the damn things 6 times.

Effective for who? You think they ain't going to spend like drunken sailors? You think they are going to vote for an across the board spending cut? You think they are going to go after Federal subsidies to banks............ Originally Posted by WTF

http://www.youtube.com/watch?v=B72fbXDQ7Lg

http://www.youtube.com/watch?v=B72fbXDQ7Lg Originally Posted by pjorourke

I like to talk about crooked bankers as much as you like to listen to yappy dogs.

Maybe when you quit supporting banking subsidies you won't have to listen to that yappy dog discussing how they almost brought down the country and we rewarded them.

After listening to the Anointed One's press conference yesterday, it appears that he sees the most pressing issue in this country as building electric cars. He mentioned the damn things 6 times. Originally Posted by pjorourke

He was trying to get you to buy a Volt

Can't blame him for wanting to sell GM product's, hell we own the company!

He was trying to get you to buy a Volt

Can't blame him for wanting to sell GM product's, hell we own the company! Originally Posted by WTF

Good point. And talk about dogs...

Good point. And talk about dogs... Originally Posted by pjorourke

Don't forget, GM was in the banking business too!


So are they only a dog when they are in the car business but smart folks when they were in the finance/banking business.

Don't forget, GM was in the banking business too!


So are they only a dog when they are in the car business but smart folks when they were in the finance/banking business. Originally Posted by WTF

No, the management of GM was consistently stupid.

No, the management of GM was consistently stupid. Originally Posted by pjorourke

As were the banks!

Had we not bailed them out, they (and you) woulda seen just how stupid they were!

I'm not going to argue with the point about stupid management. Banks have historically gone, lemming like, from one "crisis" to another (e.g., foreign loans, oil loans, Commercial RE, credit cards, mortgages). The good news is that the underlying business is pretty profitable so they usually survive. But as I told you time and time again, this was not a profit issue, but a liquidity issue. Liquidity protection is why we have things like the FDIC and don't have all our money sitting in coffee cans buried in the back yard. The original TARP was the fastest way to stop a bank run -- which it did.

Now go back to your moonbat websites and gin up some more outrages.

The good news is that the underlying business is pretty profitable so they usually survive.
Originally Posted by pjorourke

Yea Defense contractors do pretty good too when they are backed by taxpayers.

Two Fed subsidies:
The first has to do with the historically low Federal Funds rate, which remains at range of 0-0.25%. Very low interest rates allow banks and investment banks to borrow at 1% or less and invest in government guaranteed mortgage bonds that pay more than 4%. Leverage that 20 or 30 times, and it becomes a highly profitable no-brainer - to hell with lending to small business!

Normally, the risk that interest rates would rise would make this a losing proposition. However, with U.S. Federal Reserve Chairman Ben S. Bernanke committed to low rates for an "extended period" and very likely buying more Treasuries in coming months, the risk of loss in this year's bonus period is negligible.



The second Fed subsidy, which also was contrived through loose credit conditions, is in bond markets. Record volumes of debt have been issued in the corporate bond market, and especially in the more lucrative junk bond market. These represent new attractive investment opportunities for the balance sheet, because with such low rates, the likelihood of default is slight. They also provide Wall Street with a massive amount of issuing and placing fees up front, fattening the bonuses further.

I'm not going to argue with the point about stupid management. Banks have historically gone, lemming like, from one "crisis" to another (e.g., foreign loans, oil loans, Commercial RE, credit cards, mortgages).
. Originally Posted by pjorourke

Yes but Why do they do that? Oh wait because we BAIL THEM OUT and they know it.
You have fallen for the pretty and smart girl syndrome. You want to overlook her thieving habits as if there are no other smart and pretty girls that with proper oversight won't rob you blind and will show you a good time. Sounds like your banker is a Goddess! You keep believing how much better their vagina and brain is....
I yield to nobody in respect for the investment banking business - having served as an investment banker for 27 years - but these salaries and bonuses derive from U.S. Federal Reserve subsidies, and are mostly being taken out of the hide of the rest of us.
http://moneymorning.com/2010/10/26/wall-st-bonuses/
In other words, we are the ones financing Wall Street's profits, and the resultant bonuses it has paid itself. Yet if we hadn't had the Wall Street bubble, the recession would have been mild and we'd already be back to steady growth by now.

Now we are instead seeing more bubbles, mostly in bond markets. At some point inflation will arrive as a result of the Fed's money printing, and interest rates will rise. When that happens, the banks holding mortgage bonds will lose money and the bonds will decline in value (probably necessitating yet another bailout).

More dangerously, the junk bond companies that have borrowed too much will default, throwing their employees out of work and causing more humongous losses all over the system. Naturally, faced with this further crisis, the economy will collapse again.

And so Wall Street's 2009 and 2010 bonuses, just like its 2004-2007 bonuses, will end up being paid from the losses incurred by everybody else after the inevitable crash. And when we've dug ourselves out from the rubble, we will again be poorer than we were before - the U.S. economy's enormous competitive advantage of capital will have been further eroded.

That would be dangerous, because China now has lots of capital and lots of workers who are just as smart as Americans. So if the U.S. lacks capital there will no longer be any reason why Americans should be paid more than Chinese workers and U.S. living standards will decline drastically.

Fortunately there's a solution to this. And no, it's not to lynch all the bankers and close down the banks. It's to harass the Obama administration, Congress and the U.S. Federal Reserve to shrink the budget deficit drastically, reduce our need to borrow from the world, and raise interest rates to sensible levels - 5% or so - so it's worthwhile to save again.

Fortunately there's a solution to this. And no, it's not to lynch all the bankers and close down the banks. It's to harass the Obama administration, Congress and the U.S. Federal Reserve to shrink the budget deficit drastically, reduce our need to borrow from the world, and raise interest rates to sensible levels - 5% or so - so it's worthwhile to save again. Originally Posted by WTF

Spot on.

In fact, it's not only what we should do, it's what we must do. I don't mean that we need to do it in one big immediate, shocking fell swoop, but we need to establish a credible plan to move there over the intermediate term. If we wait until such actions are forced upon us it won't be a pretty picture.

Instead, we're undertaking a second round of QE. The Federal Reserve is about to start taking down about $75-100 billion of net new Treasury issuance every month for an extended period of time. Obviously it fears that demand for new debt may be waning and that the risk of an undersubscribed Treasury auction, sending further shock waves through an already skittish financial world, is very high. This is simply debt monetization on a large scale, and I don't believe for a minute that it's going to produce a very good outcome.

The next train wreck could be very ugly indeed.

As I said in another thread, we're not building a bridge to a more prosperous future. We're simply kicking the can down the road and building a bridge to the next crisis.

Amen Gents!!
Anybody catch the Donald on Fox w/ Greta. There is a part two coming up. He said the Chinese are raping us and we need to tax (tariff) their goods and services in order to stop funding their rebuilding.
this is going to get interesting.