Bush says "Now is not the time for punitive measures"
Text of Draft Proposal for Bailout Plan - Text - NYTimes.com:Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Sec. 9. Termination of Authority.
The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.
Think Progress » Bush Backs Unlimited Compensation For Disgraced CEOs: Now Is Not The Time For ‘Punitive Measures’:We certainly understand and are sympathetic to the sentiment regarding the pay of CEOs and senior management of these firms, but we have to focus on the problem, and the problem is that we need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed.
CEO compensation and corporate governance in public companies are very important issues - especially when receiving taxpayer support - but we need to be focused on fixing this problem in our markets right now. We can and should return to those issues once we get this legislation passed.
Funny that. Same thing he said about the whole Iraq war thing. The drowning of the Gulf Coast, the Outing of Valerie Plame.
Now is not the time to punish people?
So when exactly IS the right time to punish people? Say, a thousand years from now when we're all fucking dead and America is just a very small in the Russian-Chinese empire?
You fucking dolt!
This is the perfect time for punitive measures! When someone fucks up, they should be smacked down. I don't see anybody stepping up to give me $500 when I forget to pay my bills or give me $3000 when my 401k takes a trip into the toilet. When I got behind in my mortage and called up the lender they basically told me to pay up or get the fuck out. My family had to make changes in our lifestyle in order to keep afloat. So why the fuck should a bunch of multi-billionaires get a bunch of guaranteed loans of almost a trillion dollars for fucking up EVERYTHING. These are supposedly the smart guys who understand economics, so even if there was a 'push to give homes to The Blacks' as the douchebag on CSPAN said this morning, or that the regulations were being relaxed by the Bush administration THESE GUYS SHOULD HAVE FUCKING KNOWN BETTER. Why the hell should they get a free ride?
Now we're talking about a humongous transfer of wealth from the average everyday Americans who pay taxes, to the rich assholes who already own everything anyway. Let them liquidate their assets! Let them wonder where their next meal is coming from. Fuck 'em. There's an unemployment office for a reason!
We can and should return to those issues once we get this legislation passed.
And when precisely will that be, Georgie? Your buddy Paulson's brief wants the legislation to immunize him from any potential oversight and review later - even by Congress even by the Courts. But that's just how you like it. You tell people "now is not the time to ask questions" and then make sure the law says that nobody is allowed to ask questions later. Then it's on to the next crisis! Weee! It's like a fucking merry-go-round.
Stop the damned thing, I want to get off.
So now instead of dozens of people who refuse to inforce the law on bankers and nobody ( not the bankers, not the regulators ) seeing any consequences, we'll only have ONE PERSON refusing to enforce the law and nobody seeing any consequences That way they can just fire Paulson like they did with HeckovaJob Brownie and say "Everything's fixed now go back to American Idol".
I'm sorry all those big business buddies of yours won't be able to buy a new diamond studded gold plated continent today, George. But with the money they've already cut and run with tossing those mortages around. So now all you need to do is give them $700 million in guaranteed loans from the Treasury so they can disappear to Dubai like all those US jobs and dissolve their company. You can't sue a company that doesn't exist right? and Dubai doesn't extradict to the United States. That way these guys can actually complete the biggest theft in history we'll never see that money again except when each taxpayer notices that over his lifetime over $30k each will be taken out of them. The best part is that's the tip of the iceberg! The limit on the act is $700 billion outstanding at any one time. That could very well be read as, "I can do $700 billion now.... then $700 billion next week and then $700 billion afer that" After all it's not the same time....and with the way Bush reads a bill and then give us his "Fuck you I'll interpret it however I want" signing statement, can you honestly tell me that's not a possibility?
and he can keep doing it for the next two years even into the next Presidency because in order to repeal the bill, another bill needs to pass Congress and be signed by the President strike it down or the Courts - which are not allowed to review it, must rule that it is unconstitutional in some way.
the Mafia WISHES they had things this good. This is a legalized plundering of the US Treasury to benefit the very same big corporate fat cats that mcPalin has been campaigning against.
A better use of this $700 billion dollars would be to allot that money to help the people struggling to pay their mortages. Not only would citizens get to keep their houses, but the money would eventually make it's way into the banks and prop them back up. Instead though they're fucking the middle class cutting out the middle man and stealing the money directly. Another better use of $700 billion would be to invest it into the alternative energies and support structures to reduce our reliance on oil in general and foreign oil in particular. Then all this shithead bankers can get jobs working on windmills and solar collectors as mechanics. But no, we can't have the Rockefellars getting their hands dirty can we. How is one to eat caviar with grease under one's nails.
Free market? Bullshit!
Fiscal Conservatism? Double Bullshit!
Fuck that noise. Let them fail. I am not paying so some cigar smoking securities trading asshole can buy Tahiti for his vacation while I'm stuck still paying $4+ a gallon for gas and barely scraping by.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Sec. 9. Termination of Authority.
The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.
Think Progress » Bush Backs Unlimited Compensation For Disgraced CEOs: Now Is Not The Time For ‘Punitive Measures’:We certainly understand and are sympathetic to the sentiment regarding the pay of CEOs and senior management of these firms, but we have to focus on the problem, and the problem is that we need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed.
CEO compensation and corporate governance in public companies are very important issues - especially when receiving taxpayer support - but we need to be focused on fixing this problem in our markets right now. We can and should return to those issues once we get this legislation passed.
Funny that. Same thing he said about the whole Iraq war thing. The drowning of the Gulf Coast, the Outing of Valerie Plame.
Now is not the time to punish people?
So when exactly IS the right time to punish people? Say, a thousand years from now when we're all fucking dead and America is just a very small in the Russian-Chinese empire?
You fucking dolt!
This is the perfect time for punitive measures! When someone fucks up, they should be smacked down. I don't see anybody stepping up to give me $500 when I forget to pay my bills or give me $3000 when my 401k takes a trip into the toilet. When I got behind in my mortage and called up the lender they basically told me to pay up or get the fuck out. My family had to make changes in our lifestyle in order to keep afloat. So why the fuck should a bunch of multi-billionaires get a bunch of guaranteed loans of almost a trillion dollars for fucking up EVERYTHING. These are supposedly the smart guys who understand economics, so even if there was a 'push to give homes to The Blacks' as the douchebag on CSPAN said this morning, or that the regulations were being relaxed by the Bush administration THESE GUYS SHOULD HAVE FUCKING KNOWN BETTER. Why the hell should they get a free ride?
Now we're talking about a humongous transfer of wealth from the average everyday Americans who pay taxes, to the rich assholes who already own everything anyway. Let them liquidate their assets! Let them wonder where their next meal is coming from. Fuck 'em. There's an unemployment office for a reason!
We can and should return to those issues once we get this legislation passed.
And when precisely will that be, Georgie? Your buddy Paulson's brief wants the legislation to immunize him from any potential oversight and review later - even by Congress even by the Courts. But that's just how you like it. You tell people "now is not the time to ask questions" and then make sure the law says that nobody is allowed to ask questions later. Then it's on to the next crisis! Weee! It's like a fucking merry-go-round.
Stop the damned thing, I want to get off.
So now instead of dozens of people who refuse to inforce the law on bankers and nobody ( not the bankers, not the regulators ) seeing any consequences, we'll only have ONE PERSON refusing to enforce the law and nobody seeing any consequences That way they can just fire Paulson like they did with HeckovaJob Brownie and say "Everything's fixed now go back to American Idol".
I'm sorry all those big business buddies of yours won't be able to buy a new diamond studded gold plated continent today, George. But with the money they've already cut and run with tossing those mortages around. So now all you need to do is give them $700 million in guaranteed loans from the Treasury so they can disappear to Dubai like all those US jobs and dissolve their company. You can't sue a company that doesn't exist right? and Dubai doesn't extradict to the United States. That way these guys can actually complete the biggest theft in history we'll never see that money again except when each taxpayer notices that over his lifetime over $30k each will be taken out of them. The best part is that's the tip of the iceberg! The limit on the act is $700 billion outstanding at any one time. That could very well be read as, "I can do $700 billion now.... then $700 billion next week and then $700 billion afer that" After all it's not the same time....and with the way Bush reads a bill and then give us his "Fuck you I'll interpret it however I want" signing statement, can you honestly tell me that's not a possibility?
and he can keep doing it for the next two years even into the next Presidency because in order to repeal the bill, another bill needs to pass Congress and be signed by the President strike it down or the Courts - which are not allowed to review it, must rule that it is unconstitutional in some way.
the Mafia WISHES they had things this good. This is a legalized plundering of the US Treasury to benefit the very same big corporate fat cats that mcPalin has been campaigning against.
A better use of this $700 billion dollars would be to allot that money to help the people struggling to pay their mortages. Not only would citizens get to keep their houses, but the money would eventually make it's way into the banks and prop them back up. Instead though they're fucking the middle class cutting out the middle man and stealing the money directly. Another better use of $700 billion would be to invest it into the alternative energies and support structures to reduce our reliance on oil in general and foreign oil in particular. Then all this shithead bankers can get jobs working on windmills and solar collectors as mechanics. But no, we can't have the Rockefellars getting their hands dirty can we. How is one to eat caviar with grease under one's nails.
Free market? Bullshit!
Fiscal Conservatism? Double Bullshit!
Fuck that noise. Let them fail. I am not paying so some cigar smoking securities trading asshole can buy Tahiti for his vacation while I'm stuck still paying $4+ a gallon for gas and barely scraping by.