Wednesday, September 24, 2008

Brilliant senatorial rhetoric...

The metaphors just keep coming.

"I'm not going to get stampeded into rubber stamping this proposal." Yeah, so to speak.

It's all Bull. Shit. As it were.

Chuck Schumer did ask a good question, though, that Paulson ultimately and clearly did not answer: Why can't they take $150 billion right now and wait for the legislators to reassess in a couple of months? It's not like they are going to spend the $700 billion all at once. Why can't they wait? Wait until the Senate reconvenes and decides whether the other $550 BILLION is necessary? No answer. Just a bunch of horseshit (so to speak).

After watching two hours of this (I couldn't stomach any more), I had the distinct impression that the entire thing was theater: It was as if the senators had gotten together with Paulson and rehearsed what they were going to say. In particular, Chris Dodd is a shit. I don't care that he's a democrat--he's a shit: clearly a Wall Street stooge. Among other reasons, he's a shit for humiliating the head of the S.E.C., gratuitously chiding him for a late report, as if the chairman of the S.E.C. types and delivers commission reports, himself. Yeah, right. And Sarah Palin is the most competent foreign policy expert in the history of the United States.

And Paulson... I don't know. How can he be described? A shifty latent homosexual with an oral fixation that approaches finance like a football game. What with him constantly tonguing his lips wrung into an "O" every two seconds? It was disgusting watching that creep. It was disgusting watching all of those creeps. Hell, politics is just disgusting creeps altogether.


Ani said...

So, other than that, you enjoyed watching CSPAN today?

Today I am reading over a book about the founding of America. Somehow this was done with an honest, passionate debate and due deliberation that is astoundingly impossible these days, where a bunch of Chicken Little Robber Barons rule the country. It truly makes the heart sink to see what has been taken away from us over the last ten years, doesn’t it?

Anyway, a quote I found from Samuel Adams that I wanted to shoot into the blogosphere, and here you popped up—perfect timing!

“If the liberties of America are ever completely ruined, of which in my opinion there is now the utmost danger, it will in all probability be the consequence of a mistaken notion of prudence, which leads men to acquiesce in measures of the most destructive tendency for the sake of present ease. When designs are formed to raze the very foundation of a free government, those few who are to erect their grandeur and fortunes upon the general ruin, will employ every art to sooth the devoted people into a state of indolence, inattention and security…They are alarmed at nothing so much as attempts to awaken the people to jealousy and watchfulness; and it has been an old game played over and over again, to hold up the men who would rouse their fellow citizens and countrymen to a sense of their real danger, and spirit them to the most zealous activity in the use of all proper means for the preservation of the public liberty, as “pretended patriots,” “intemperate politicians,” “rash, hot-headed men,” Incendiaries,” “wretched desperadoes,” who, as was said of the best of men, would turn the world upside down, or have done it already.”

Amen, Brother Adams.

Haik said...

No one of those politicians restrained the bankers when they were in the process of satisfying their infinite greed. They still continue getting their hefty bonuses out of the new mergers and acquisitions. and still nobody raises the question.

At the end of the day it is folks like us who bear the economic hardship while those suckers enjoy their yacht holidays.
I am glad that this bloodsucking, artificial system is collapsing, it is shame that we got so deep in it.

Armen Filadelfiatsi said...

The most amazing thing is that Ben Franklin said that the American Revolution was fought against, get this,--banks--.

The Phederal Lizerve and all that.

And here they go betting on whether loans will default. Gambling. Using the Black-Scholes formula. Predictable people, they are.

Ani said...

Just heard the first part of the Couric interview with "Mrs. You Betcha". Couric a bit more incisive than the Gibson, thank god for small favors.

Lagniappe quote special for Armen, who doesn't mince words (not to put too fine a point on it...):

"A sharp tongue is the only edged tool that grows keener with constant use."--Washington Irving

Armen Filadelfiatsi said...

Haik, I almost wish that they do give $700 BILLION to them without oversight, without accountability, without any judge, anywhere, able to look into what Paulson is doing. Maybe then red America will wake up. But probably not. It's too late, anyway...

Ani, "Thanks, but no thanks." LOL.

Haik said...

It seems that the capitalism failed after all. The nationalization of AIG is an example of it.

Interesting read:
"On Wednesday Dr John Sentamu told bankers the market system seems to have taken rules "from Alice in Wonderland". "

read this:

Armen Filadelfiatsi said...

Funny you should mention the Wizard of Oz. Check this out:

Armen Filadelfiatsi said...

Well, Alice in Wonderland / Wizard of Oz, not the same thing, but the same thing. Check it out, anyway. And be patient.

parisan said...

There are many resemblances between the current crisis and the 9/11: The catastrophic scale, the threats voiced by the establishment, the anti-constitutional powers sought by the leadership, etc.

Anyway, I love the idea of buying worthless shit, lots of it, to sell it later at a good price to the government, (almost) no question asked!

Anonymous said...

Buying and selling credit (debt) it's an amazing business. I haven't read any sci-fi books or watched any movies that touched upon it.

Ani said...

Founding Fathers (and Mothers no doubt) rolling in their graves:

"Public money ought to be touched with the most scrupulous consciousness of honor"--Thomas Paine

"To contract new debts is not the way to pay old ones"--George Washington

"I go on the principle that a public debt is a public curse"--James Madison

"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale"--Thomas Jefferson (OMG, TJ, you have NO IDEA how LARGE a SCALE!)

September 11 and this crisis--yes, so many parallels. At least a few more people are asking questions this time. Enough? Probably not...