Giddy? 28 September 2008
Posted by marisacat in DC Politics, Inconvenient Voice of the Voter, U.S. House, U.S. Senate, WAR!.trackback
The first shot run with the middle of the night NYT story of a possible deal… LOL I noted their demeanor at the time I linked to the story….
In a bit they changed the pic. (The schnauzers at NRO caught it.)
I can’t imagine why…
^^^
The 106 page or 150 page draft document, page count depending on whom one listens to… is online at
http://www.financialservices.house.gov OR http://speaker.house.gov (Merry Christmas! Just not to you or me!)
If one can get thru!
Marisacat 
seriously, do they just have to call an editor and the Times will change anything. That top pic up there is MUCH more telling about their attitudes.
AND this is the full size of the first photo, the jovial group, on my page Reid got cut off the right end. I did nto download and resize from the NRO The Corner, I jsut snitched it… 😉
They look like someone sold their last dollar.
jeez..Nancy’s, barely able to bite down that glee, the first shot looks actually less mean spirited then the second. And Paulson, what can one say, he looks like a deformed penis with a pricey blue suit .
Where’s the shot where they yucked it up and gave the finger to the camera?………So similar to that creepy white house/bat room victory shot, sans soundtrack, well before the election results, in 2004.
AND via UK Telegraph, this is the so giddy (if persuasive at the point of a knife) backdrop to Giddy One, as opposed to Barely Holding in The Giggles 2;
He always did look like an undertaker. A sick half dead one.
Comment in kos’ FP post
haha
5
Well if there was supposed to be a pic at the giddy 2 link, they either quickly disappeared it, or I didn’t have some sort of scripting allowed which usually isn’t the case unless it’s a video….I guess it’s just as well, why torment myself………..
He always did look like an undertaker. A sick half dead one.
maybe he’s related to Ratsinger’s groomer elf…….
ooo scared! endangered!
Don’t they look silly.
diane if you mean the link to hte NRO picture, in comment 2, I just used the link to the get to post at The Corner, the photo is still there.
the link in 5 goes to a report at UK Telegraph.
I was referring to five, oopsie
By the way, I meant to thank you for that RBS link on the last thread catnip.
THE ROYAL Bank of Scotland is to be one of the biggest beneficiaries of the planned $700 billion bail-out that comes courtesy of the American tax-payer if the US Congress gives the financial rescue package the go-ahead this weekend.
Something so wrong with the whole bailout picture, and unfortunately most of us are not privy to the actual magnitude or not. It’s sounding more and more though, that the only crisis, was for folks already making obscene amounts of money, especially if the bulk of the banks in the US are doing quite well, thank you very much.
Could it be, that the only real crisis going on, is the one that’s been going on, average citizens, not invested in needing to own or rule the world at large, are falling through the cracks with no relief, or remorse from their oh so quaintly termed, “public servants”………………………
And certainly, while it sounds like perhaps more Republicans then Democrats are not on board with the bailout, I won’t be trusting anything they say either, after all they’re the ones who’ve been salivating for a flat tax, which would really be a gruesome affair.
Rasmussen:
And the Independent is promising a 1 trillion lbs sterling (LOL) burden on the UK taxpayer.
Chalmers Johnson on how often we appropriate numbers close to 700 Bil and toss it away, and how we should get out of the wars, if we hope to survive. Fat chance with either of the militarist and bloodletters on offer
15
Yeah, let alone the fact that money is not being used for the military personnel anyways, they’re being raped, and electrocuted coming out of their showers, with impunity, by the organizations the actual money is going to.
15.
I was reading an early pre-Church commission 1970s book about the CIA this summer and I’m sure the author said that spending levels at that time were already at the trillion dollar mark thanks to the creative accounting they used back then too.
Oh well, I guess when the shit gets really bad, and I can no longer find work, or afford rent, I’ll go somewhere with plenty sandbags, I loved Intermittent Bystander’s post about the sandbag homes, makes sense to me……………I don’t need anything so frikken large I can’t clean it, I always sit near a kitchen anway.
17
The truly ugly thing is that people, especially children, are currently being way overmedicated by Big Pharma and Doctors with MBAs for being unable to cope in the militaristic, Big Brother society they live in , while those who make their livelihood from uneccessarily doping normal people and children to a point of stupor, or working in some vast, obscenely expensive, destruction industry, are considered completely normal.
20. I wrote a short story along those lines but I can’t remember if I posted it on my blog. I’ll check.
Oh yeah. Here it is. I couldn’t remember what I’d titled it. (Tired.)
I find it odd that Chuck Schumer is not in that photo.
22. Maybe he was too drunk on champagne by then.
but it was a photo op… i thought he never missed those. hmm…
21
Thanks for the read! You ought to continue it if you haven’t catnip.
Muslim Children Gassed at Dayton Mosque After “Obsession” DVD Hits Ohio
I hate to break it to her, but this is EXACTLY America, or hasn’t she heard of school children killed by bombs down south, or in the snow out west, or at the MOVE headquarters in Philly, or et cetera.
This is exactly America, proud home of racist state-condoned terrorism.
Senate Clears Defense Authorization Bill
KUCINICH: OPPOSES BAILOUT AND ASKS: “Is this the United States Congress or the board of directors of Goldman Sachs?”
NO national coverage of the gassing of that mosque evident on Google News. Can you imagine if someone did that to a Southern Baptist or Catholic church?
29
Yeah, I sure didn’t see that one anywhere on a site that regularly provides US news links from tons of sources, local and national, every five minutes, looks like it was totally blacked out.
My my, this looks promising, all three quarters page of it, undecipheral additions to already worthless US Code which most US Citizens don’t have a clue how to access (will see if I can find a link to the full USC, last time I looked I couldn’t find it in its entirety:
….
SEC. 124. HOPE FOR HOMEOWNERS AMENDMENTS. 9
Section 257 of the National Housing Act (12 U.S.C. 10
1715z-23) is amended— 11
(1) in subsection (e)— 12
(A) in paragraph (1)(B), by inserting be- 13
fore ‘‘a ratio’’ the following: ‘‘, or thereafter is 14
likely to have, due to the terms of the mortgage 15
being reset,’’; 16
(B) in paragraph (2)(B), by inserting be- 17
fore the period at the end ‘‘(or such higher per- 18
centage as the Board determines, in the discre- 19
tion of the Board)’’; 20
(C) in paragraph (4)(A)— 21
(i) in the first sentence, by inserting 22
after ‘‘insured loan’’ the following: ‘‘and 23
any payments made under this para- 24
graph,’’; and 25
70
(ii) by adding at the end the fol- 1
lowing: ‘‘Such actions may include making 2
payments, which shall be accepted as pay- 3
ment in full of all indebtedness under the 4
eligible mortgage, to any holder of an ex- 5
isting subordinate mortgage, in lieu of any 6
future appreciation payments authorized 7
under subparagraph (B).’’; and 8
(2) in subsection (w), by inserting after ‘‘ad- 9
ministrative costs’’ the following: ‘‘and payments 10
pursuant to subsection (e)(4)(A)’’.
….
(From page 69 to 70 of the “financialservicehouse.gov” version of the bail out)
27
Levin said final action on the bill was a “bittersweet moment” in his view, because it marked the end of his long, effective teamwork with Warner.
Thanks for the wars sweeties.
Here’s one US Code (USC) link, I should qualify my comment above, the last time I looked much of what was available was not up to date. This Cornell link states it’s the most recent release from the House.
And look at this bullshit provided by our dear government for non attorney access, a fucking 2000 version Yes, as a citizen, you’re required to know the law, but given no affordable access to it.
Knew I’d find this rot, from page 88:
SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET AC- 8
COUNTING. 9
(a) AUTHORITY.—The Securities and Exchange Com- 10
mission shall have the authority under the securities laws 11
(as such term is defined in section 3(a)(47) of the Securi- 12
ties Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to sus- 13
pend, by rule, regulation, or order, the application of 14
Statement Number 157 of the Financial Accounting 15
Standards Board for any issuer (as such term is defined 16
in section 3(a)(8) of such Act) or with respect to any class 17
or category of transaction if the Commission determines 18
that is necessary or appropriate in the public interest and 19
is consistent with the protection of investors. 20
[THE FUCKING ACCOUNTING STANDARD WAS PUT IN PLACE FOR INVESTORS]
(b) SAVINGS PROVISION.—Nothing in subsection (a) 21
shall be construed to restrict or limit any authority of the 22
Securities and Exchange Commission under securities 23
laws as in effect on the date of enactment of this Act. 24
….
That Accounting Standard can be viewed via a link on this page (you have to click ok to FASB’s website terms to open it) scrolling down to:
Statement No. 157
Fair Value Measurements
(Issue Date 09/06)
From the Statement 157 Summary
….
The definition of fair value retains the exchange price notion in earlier definitions of fair value. This Statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. The transaction to sell the asset or transfer the liability is a hypothetical transaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. Therefore, the definition focuses on the price that would be received to sell the asset or paid to transfer the liability (an exit price), not the price that would be paid to acquire the asset or received to assume the liability (an entry price).
….
the producer of the propaganda dvd’s “what is”, from the film’s website.
here’s the scoop.
Clarion Fund
for those of you who enjoy the thread antics of the little colonel, he’s in fine form this evening.
Be a Grown-Up
by BooMan
Sun Sep 28th, 2008 at 11:48:29 PM EST
from the comments
maybe boober could solicit one of his pondpeople into purchasing him a uniform
Via Bernard, Congressional Charade
“It makes clear that everyone understands that turning Hank Paulson’s three pager into a 110 page draft made for a nice fig leaf but made virtually no substantive difference.”
Also Analyzing The Bailout is an interesting read.
“What’s in this massive bailout Congress wasted the whole weekend negotiating? We just wasted our Sunday evening reading all 110 pages to find out.”
bay, what a scream that link is! Booman as Frist! Booman as tired, limp tool of the tired, limp, Bush supporting Democrats!
HA! Some writer on Politico is calling it “The 700 Club”.
About right, I’d say….
Not to worry!
Reid says it “protects the workers, the American taxpayer”
hmmm via Politico email:
I’d add presidents who freeze in place rather than acting. I luv reading that both Ob and McC may not show for the 700 Billion Boondoggle / Crap Sandwich (courtesy of Boehner that last) vote.
This election is a fukign spat between spitters.
down 300+ 6.56 am pt
The Fed throws more money at the problem.
“The Fed increased its existing currency swaps with foreign central banks to $620 billion from $290 billion to make more dollars available worldwide. The Term Auction Facility, the Fed’s emergency loan program, will expand to $450 billion from $150 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.”
still down 300..
at 8:18 am PT.
The Monster That Ate Wall Street
…..
They’re called “Off-Site Weekends”—rituals of the high-finance world in which teams of bankers gather someplace sunny to blow off steam and celebrate their successes as Masters of the Universe. Think yacht parties, bikini models, $1,000 bottles of Cristal. One 1994 trip by a group of JPMorgan bankers to the tony Boca Raton Resort & Club in Florida has become the stuff of Wall Street legend—though not for the raucous partying (although there was plenty of that, too). Holed up for most of the weekend in a conference room at the pink, Spanish-style resort, the JPMorgan bankers were trying to get their heads around a question as old as banking itself: how do you mitigate your risk when you loan money to someone? By the mid-’90s, JPMorgan’s books were loaded with tens of billions of dollars in loans to corporations and foreign governments, and by federal law it had to keep huge amounts of capital in reserve in case any of them went bad. But what if JPMorgan could create a device that would protect it if those loans defaulted, and free up that capital?
What the bankers hit on was a sort of insurance policy: a third party would assume the risk of the debt going sour, and in exchange would receive regular payments from the bank, similar to insurance premiums. JPMorgan would then get to remove the risk from its books and free up the reserves. The scheme was called a “credit default swap,” and it was a twist on something bankers had been doing for a while to hedge against fluctuations in interest rates and commodity prices. While the concept had been floating around the markets for a couple of years, JPMorgan was the first bank to make a big bet on credit default swaps. It built up a “swaps” desk in the mid-’90s and hired young math and science grads from schools like MIT and Cambridge to create a market for the complex instruments. Within a few years, the credit default swap (CDS) became the hot financial instrument, the safest way to parse out risk while maintaining a steady return. “I’ve known people who worked on the Manhattan Project,” says Mark Brickell, who at the time was a 40-year-old managing director at JPMorgan.
…..
The Manhattan Project, how quaint, and none of these unreproachable titans of finance realized the monster they were creating…..okay….
Have a good day all………..
(oh, and just wow ….suffering from Battered wife syndrome,….projection??????? a blogger and a psychiatrist, how special, Pfizer may have a job for him……)
Seomone jsut popped me this stunningly good article from Guardian/Observer:
Where has Saudi Arabia – Bush’s BFF – been in all of this?
Meanwhile, Citigroup Buys Banking Operations of Wachovia
Pelosi just said on the floor that this crisis “snook up on us like little cat’s feet”. How poetic.
“little cat feet”
so now they are like the former minor leaguer who, at 250 lbs, beat a 7 lb declawed cat to death, when it bit him?
48. I think she’s trying out lines to use in her upcoming children’s book, How the Wall Street and Government Grinches Stole Christmas, Your House, Your Car, Your College Education and Your Future.
Boehner: “These are the votes that separate the men from the boys and the girls from the women.”
Wow. There’s really BAD hyperbole flying around in DC today.
The house vote is on. Roll call time.
Holy shirt… looks like it didn’t pass the House… the Dow just dropped THROUGH THE FLOOR.
OMG Dow down 700 points…
hmmm it may not make it to passage.
Down down over 600 pts.
Dow down over 7%
Wow, that was 5 minutes of pure untrammeled terror on Wall Street. Dow coming back a little now that the shock has worn off.
down 491 now
Whoa, vote’s not over yet – they’re trying to switch votes and do-over.
The NYT reported that part of the drop was a reaction to the Wachovia sale.
Ambinder 10 mins ago
… and this is only MONDAY. Long week.
The Counting of the Holy Hand Grenade has failed. Now what?
It’s not over until they close the vote.
Last i saw was 207 vs 226 with One Not Voting.
Just saw it again, still at that number, still open.
It’s over, she just banged the gavel. Dow is down again. Hang on.
No, wait apparently it’s not over.
Just don’t listen to me. I don’t know what I’m talking about.
down 521
“my, markets seem to be sinking” LOL
Local NBC 11 am newsssssssssssssssss.
Wait a second, they are trying some funny business now.
Nasdaq down 133
94 Dems against it…
NBC national news is calling the vote “failed” AND that House will go home and come back THURSDAY
They wanna be home for the Jewish High Holies? WTF?
Dems only managed to switch a single vote – and then it moved back to NAY.
Shit. Good luck.
AND this tells me few people like Pelosi Hoyer Rahm Van Hollen CLYBURN, etc. No calling in favors worked here, at least not this first vote…
Hey fuck them all.
Jackie Spiers (US rep from So of the City and a swathe fo the City that is nto under Pelosi) calls into KGO to rally the troops!
“we got as much as we could into the bill in order to maintain a bi partisan bill” waaaaaaaa.
Via The Page
[waaaaaaaa]
CNN reporting that some Repubs are already heading home. Buh bye.
those pesky anarchists
Creative Destruction on the Left
by BooMan
Mon Sep 29th, 2008 at 09:40:48 AM EST
in the thread
leftvet was one of the gainsville 8, indicted for conspiracy to incite a riot at the Republican Convention in 1972.
History You Never Knew: How I Caused Nixon’s Resignation
Originally posted by leftvet on 01/24/07
Final
205 vs 228
And down is down 635
And down is down 635
Great Freudian slip!
74
going home for the Jewish High Holies. Which start in a few hours.. they are filing out. Not even a chance for a second vote today.
What a laugh it all is…
obamaRama calls for the markets to remain calm
whatev.
down down down………………..
Man over board!
what a day.
– 672
I think the Dow will end up being down 666. Mwahahaha…
Freeeefall….. S & P down 8,08 %
Usually this kind of thing is called extortion.
My, this is going well. 😉
DJIA down 680 @ 15:36 ET
Here’s my version: Failure to Traunch
And the news just keeps getting worse: Medicaid long-term health care costs to soar. IN the meantime, of course, Gates predicts no sharp cuts in defense budgets.
Down closed down 777
Apparently it now requires a drop of 10% for trading to be automtically halted, so it just fell fell….
People are beginning to act weird. I saw lines at the local gas station on the way home. Not a typical sight. People think gas is going to be scarce or expensive… actually, when the economy craps out and demand for fuel drops, you may very likely see lower prices from time to time.
biggest point drop ever on both the Dow and S&P… I noticed that Cramer over at CNBC is frothing at the mouth saying that if the FDIC doesn’t step up insurance to $1 mil. per account the Dow will lose 2,500 points in the next 72 hours… such frothing!
NYCO – the thought crossed my mind that maybe I should pick up a months supply of rice and beans over the course of the next couple of days… and maybe cash out a couple of grand of my meager savings in case there are any serious bank runs…
86. Down closed down 777
That’s a spiritual number. Hmmm…
bay at 75 out of Moderation!
Sorry for the delay!
****
90
I managed the Freudian slip again, did it without thinking…
I got some mattress money out when Lehman went under. I’m so proud of myself that I didn’t fritter it away yet for gas or pizza money…
BooMan is so out of it… does he realize that there are elements of the “Rockefeller Right” that would love to tear down the mess and establish a new world order too? If anything, they were cheering louder than the hippies today.
87. Yup. Oil dropped today.
According to Ben Smith:
The Dow’s close puts the stock market below where it was on President Bush’s first day in office.
I freaked out a few months ago, last winter… and had a friend get cash for me to keep in the house, something i had never done. Took me af few days to figure out where to keep it, and then try not to forget where it was.
It was more like symbolic mattress money for me. Stuff that might buy gas and food, nothing that would pay my bills…
World markets should be tanking tonight. The New Zealand index, which usually reacts very mildly to problems, is absolutely tanking – on its way to 5% down (that’s a lot, for NZ).
The Page links to list of NO votes AND a list of who is facing a race back home…
House seems to be in partisan rupture… what a hoot, what is new…and Ob and McC are pointing their big presidential FFFingers at each other.
Healing anyone? hmm?
97 – I would never keep enough cash around to ‘pay bills’… I’m only a month ahead as it is – and carrying debt. I was thinking just enough so I could eat for several months if need be.
99. There is no American leadership. I suspect that fact is going to (finally) dawn on most of the world before the end of the week.
The only leaders and heroes are going to be the ones who are able to take care of their own (states taking care of themselves, municipalities and so on).
101
absolutely right. there is no leadership, none. Not on either side. Including the big finger wag guys. And former finger wag guys.
100. I’m very glad that I am able to work from home if need be. I have been trying for weeks to get remote access switched on for me and some of my coworkers (my immediate supervisor has to drive in 50+ miles every day)… it was taking forever to get it functioning but now it’s working, and not a moment too soon. Who knows?
But I’m glad I also live in a place that has semi-decent public transportation.
LOL. Just saw a list of NY voters on the bailout bill… only 4 New Yorkers voted no. Guess who was among them… Maurice Hinchey (aka Mr. Liberal) and Randy Kuhl, scourge of the Kos Kidz.
And Kirsten Gillibrand, oddly enough.
apparently house.gov is regularly crashing.
Inspires Confidence!
I never managed to get thru to the 110 page text last night and stopped trying. Not so with others apparently…
The TSX is down 900 pts.
nu thred…………..
LINK
……………………. 8) …………………