Just call us the bail bondsmen
The bailout passed, and I listened to much of the debate leading up to the vote on CNN. So what does this mean?
Well, in about 4 months from now, we're going to be in the exact same situation. We have only postponed the problem with $700 billion; The financial loss experienced by the bankrupt institutions exceeds this amount. Instead of the free fall/nose dive we were already in, we now are on a slightly slower trajectory. The bill that is now law has a number of improvements over the original document, namely hundreds of pages of stipulations that does NOT allow unlimited power in fixing this problem.
"The plan - initially a three-page request from the Bush administration for unlimited power to use $700 billion any way it saw fit to stabilize markets - swelled to more than 450 pages as negotiators added restrictions for the administration and sweeteners for anxious members of Congress.
Lawmakers added greater supervision over the $700 billion - including a process where Congress could vote to block half the money - measures to protect taxpayers, and steps to crack down on "golden parachutes" for corporate executives whose companies benefit from the bailout."
As far as the VP debate went, Sarah Palin is a retard. Her latest child is okay, but Sarah is definitely the retard of the family. She is an embarassment whom I would be terrified to live under should she be VP or even worse, President. And once again any person who says she is more qualified to be VP than Barack Obama is qualified to be President should immediately see a Psychiatrist (because they are fucking crazy).
On a more entertaining note, the ever obnoxious Bill O'Reilly decided to go a few rounds with guest Barney Frank about the whole crisis. My favorite moment is when Frank, well, just read it below because its fucking hilarious! Or, watch the segment with the link for your own reaction.
O'REILLY: Bottom line is you're there two years. Bottom line is stock drops 90 percent.
FRANK: Yes.
O'REILLY: In any private industry, you're out.
FRANK: No.
O'REILLY: In any private concern, you're out on your butt.
FRANK: No.
O'REILLY: But not here in the federal government.
FRANK: No.
O'REILLY: You can come in and make every excuse in the world.
FRANK: I'm not making excuses.
O'REILLY: .blame everybody else in the world and then call me boorish.
FRANK: I'm not going to be bullied by your ranting. You can rant all you want, you're not going to shut me up! The problem was that we passed in 1994, in fact.
O'REILLY: Now we're back to 1994. This is bull.
FRANK: Yes.
O'REILLY: This is why Americans don't trust the government.
FRANK: No, this is why your stupidity gets in the way of rational discussion.
O'REILLY: All right.
FRANK: The fact is it was 1994 that we passed a bill to tell the Fed to stop the subprime lending. We tried to get them to do it. The first time we were in power again in 2007, we passed the bill to regulate Fannie Mae and Freddie Mac.
Well, in about 4 months from now, we're going to be in the exact same situation. We have only postponed the problem with $700 billion; The financial loss experienced by the bankrupt institutions exceeds this amount. Instead of the free fall/nose dive we were already in, we now are on a slightly slower trajectory. The bill that is now law has a number of improvements over the original document, namely hundreds of pages of stipulations that does NOT allow unlimited power in fixing this problem.
"The plan - initially a three-page request from the Bush administration for unlimited power to use $700 billion any way it saw fit to stabilize markets - swelled to more than 450 pages as negotiators added restrictions for the administration and sweeteners for anxious members of Congress.
Lawmakers added greater supervision over the $700 billion - including a process where Congress could vote to block half the money - measures to protect taxpayers, and steps to crack down on "golden parachutes" for corporate executives whose companies benefit from the bailout."
As far as the VP debate went, Sarah Palin is a retard. Her latest child is okay, but Sarah is definitely the retard of the family. She is an embarassment whom I would be terrified to live under should she be VP or even worse, President. And once again any person who says she is more qualified to be VP than Barack Obama is qualified to be President should immediately see a Psychiatrist (because they are fucking crazy).
On a more entertaining note, the ever obnoxious Bill O'Reilly decided to go a few rounds with guest Barney Frank about the whole crisis. My favorite moment is when Frank, well, just read it below because its fucking hilarious! Or, watch the segment with the link for your own reaction.
O'REILLY: Bottom line is you're there two years. Bottom line is stock drops 90 percent.
FRANK: Yes.
O'REILLY: In any private industry, you're out.
FRANK: No.
O'REILLY: In any private concern, you're out on your butt.
FRANK: No.
O'REILLY: But not here in the federal government.
FRANK: No.
O'REILLY: You can come in and make every excuse in the world.
FRANK: I'm not making excuses.
O'REILLY: .blame everybody else in the world and then call me boorish.
FRANK: I'm not going to be bullied by your ranting. You can rant all you want, you're not going to shut me up! The problem was that we passed in 1994, in fact.
O'REILLY: Now we're back to 1994. This is bull.
FRANK: Yes.
O'REILLY: This is why Americans don't trust the government.
FRANK: No, this is why your stupidity gets in the way of rational discussion.
O'REILLY: All right.
FRANK: The fact is it was 1994 that we passed a bill to tell the Fed to stop the subprime lending. We tried to get them to do it. The first time we were in power again in 2007, we passed the bill to regulate Fannie Mae and Freddie Mac.