There's something to the 'no fair giving free money to people who got into debt but not to people who didn't' argument. So, to avoid that problem, give everybody free money! You could add some requirement about paying off debt if you have, and that might make things a bit more complicated, but basically... give people free money!
We've been giving rich people free money for years, and will presumably keep doing so given what's going on, so the rest of us should get a cut.
Tuesday, October 04, 2011
Great Moments In The Life Of The Moustache Of Understanding
Visit msnbc.com for breaking news, world news, and news about the economy
transcript:
Sam Seder:
>> i just, to carry dylan's point a little further, isn't the problem -- i mean, your policy suggestions are, i would agree, but isn't the problem that we can't get those passed because we have such income disparity, and we now have a power disparity, that is so tilted to the wealthy in this country, to the moneyed interests, they are saying, essentially, and you know, we're not out of that scary period yet. we still have millions upon millions of people who are unemployed. don't we have a situation --
>> poverty.
>> don't we have a situation where, essentially, the wealthy elite are basically telling the 99% of us, you know, suck on this. this is the way it's going to be?
TBTF
At least it's not ours, but I imagine the Fed will give it some free money anyway.
Saving institutions is fine as long as you show up to the floor where top executives are and have the police escort them out of the building as your are doing the saving. Also, too, shareholders should eat it (usually). But our Galtian Overlords must keep the exalted positions, because it's all the fault of Barney Frank and the CRA which forced Dexia to lend to Greece. Or something.
Heckuva job, world leaders (.pdf).
PARIS/LUXEMBOURG, Oct 4 (Reuters) - France and Belgium will guarantee the financing of stricken bank Dexia , finance ministers pledged on Tuesday as officials scrambled towards a rescue that will most likely involve a break-up.
Saving institutions is fine as long as you show up to the floor where top executives are and have the police escort them out of the building as your are doing the saving. Also, too, shareholders should eat it (usually). But our Galtian Overlords must keep the exalted positions, because it's all the fault of Barney Frank and the CRA which forced Dexia to lend to Greece. Or something.
Heckuva job, world leaders (.pdf).
2011 EU-wide stress test results: no need for Dexia to raise additional capital
Dexia was subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the National Bank of Belgium, the European Central Bank (ECB), the European Commission (EC) and the European Systemic Risk Board (ESRB).
Dexia notes the announcements made today by the EBA and the National Bank of Belgium on the EU-wide stress test and fully acknowledges the outcomes of this exercise.
The EU-wide stress test, carried out across 91 banks covering over 65% of the EU banking system total assets, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions.
Broken
This really makes little sense.
Either banks aren't lending because there are no good projects to lend to in a recession, or the system is fundamentally broken and the banking system has forgotten how to be in the lending business. Austerity for the people, and some half-baked program for supposedly small and medium sized businesses which will, of course, be large. There are existing channels to funnel free money to people which would help now, and something like this will take months set up, all in the name of being pro-business and pro-austerity.
Desperate to find new weapons to combat a second credit crunch, Osborne felt forced to propose that the Treasury intervene directly partly because the governor of the Bank of England, Sir Mervyn King, has refused to take the step, insisting the Bank cannot take on the risk.
"Because banks are damaged they won't lend at current rates," Osborne said. "Everyone knows Britain's small firms are struggling to get credit and banks are weak. So as part of my determination to get the economy moving I have set the Treasury to work on ways to inject money directly into parts of the economy that need it, such as small businesses."
Either banks aren't lending because there are no good projects to lend to in a recession, or the system is fundamentally broken and the banking system has forgotten how to be in the lending business. Austerity for the people, and some half-baked program for supposedly small and medium sized businesses which will, of course, be large. There are existing channels to funnel free money to people which would help now, and something like this will take months set up, all in the name of being pro-business and pro-austerity.
It's Not Nutpicking If That's What It Is
What the Big Dumb Commentariat thinks.
I agree that his #1 focus is all about himself and getting elected. He is not interested in black Americans except to talk about past issues so he can stir up emotions and get a few more votes. However, I do believe that he truly does not like white Americans. His dislike of whites goes back to when the British arrested his grandfather in Kenya for being a communist subversive.That's just representative of this Big Dumb Stupid thread. I'm not being selective. Read it if you disbelieve.
His wh. grandmother was afraid of meeting blk. guys on the street, he tossed her under his bus when he told that story publicly in his book. Wonder how long the MS Media has been hiding this story? DARN...now they may have to report it too...awww!
Obama's hatred of whites explains a lot of his weirdness. How f***ed up is that to hate half of yourself? I've read that Hitler had a Jewish ancestor, and part of what made him so lethal was that deep-down, he knew he could never eradicate his own Jewish blood. Self-haters can be the most dangerous haters of all.
He cares about color - he hates white people. He also hates black people that disagree with him.
The evidence keeps mounting that Obama is going to go violent in 2012, if it remains inevitable that he is going to lose. And the pattern of violence will be predictable: If you are white, you aren't an Obama voter and must be kept from the polls.
I can't help but think of the internet, facebook organized "flash robs" of "minority youth" (cough cough) who have been creating havoc around the country, despite the best attempts of the MSM to downplay the situation.... I keep having this feeling that we're going to see large groups of minority youth (double cough cough) showing up at certain voting precincts on the First Tuesday in November.
Hopefully our next GOP candidate will milk this to the max, declaring Obama a leftist radical and challenging him to explain his affiliation with Shabazzz-- unlike McCain who and other establishment Republicans "did not want to go there".
Somehow I'm willing to bet that Obama's Spring Break in Pakistan consisted of drugs and muttah-prostitution. Although it wouldn't surprise me if Obama visited a radical madrassa or two.
Monday, October 03, 2011
Shocking Pictures Of Barack Obama With Black People
I've seen a million truly stupid right wing freakouts over the years, but the New Black Panther Party one might be the stupidest one of all.
"Just Another Black Race-Card Playing Politician"
I'm so old I can remember when people would try to convince me that Reynolds was closet liberal and all around swell guy.
The Right Way To Punch A Hippie
I've also never understood the failure of more "centrist" Democrats to see the advantages in having an actual organized Professional Left. Establishment Dems seem to punch hippies just because they think it's fun, not because it helps them actually achieve anything. I'm all for hippie punching, but if you're just doing it so Politico says nice things about you or whatever it isn't actually achieving anything.
Alternatives To The Salad Bar At Applebees
Bars/restaurants seem to be one of the small business categories where there is always potential for small players to make a buck, due to the non-commodity nature of (some) prepared food, preferences for variety, and limits to the advantages that economies of scale can provide for truly big players. The information advantage is one advantage big chains have, so if the internet helps chip away at that...good!
Even In Urban Hellholes
Even in the most hellish of hellholes, absurd parking requirement rules exist.
Over time the number of cars per person grew significantly. Then existing residents, wanting to maintain sufficient on street parking, would object to development in less it contained sufficient parking. Then these demands became codified, and now there are lots of empty parking garages.
Avalon Fort Greene, a new 42-story luxury building near downtown Brooklyn's mass-transit hub, devotes two stories and 256 parking spaces to one of its most elusive residents: the automobile.
The building is well-occupied, but the garage is half-empty. The same is true down the street at 80 DeKalb Ave. Nearly all of the building's 365 apartments are filled, but only half of its 126 parking spaces are leased.
Over time the number of cars per person grew significantly. Then existing residents, wanting to maintain sufficient on street parking, would object to development in less it contained sufficient parking. Then these demands became codified, and now there are lots of empty parking garages.
Americans Suck
Another day, another diagnosis of economic problems as some sort of psychological problem. People have no money, they can't get credit, if they're lucky enough to have health insurance they're desperately scared of losing it. If only they'd stop being so risk averse!
Probably A Bad Thing
There's the occasional anecdote in the press, and the numbers are reported, but I don't think people have at all come to grips with the massive human toll of millions and millions of foreclosures. I don't know how they expect individuals - and the economy - to recover from that absent massive intervention.
How Does It Even Occur To You That This Might Be OK?
I hear a lot about how frightened schools are of lawsuits, but when you start thinking you have more police power than the police you can't be that concerned...
Sunday, October 02, 2011
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