> However, you're being willfully disingenuous (and you know it) by focusing
> on TARP alone, because it was just a drop in the bucket when compared to
> the greater bailout. WSJ estimates that nearly $2 trillion is still at
> risk from the non-TARP bailouts, plus an additional $1.1 trillion of MBSs
> that the Fed was forced to swallow:
> None of this, of course, takes into account the casualties inflicted by
> the zero-interest rate policies (ZIRP) the Fed instituted as part of the
> bailout. Its sole function is to buoy banks' balance sheets at the expense
> of taxpayers' savings. How's an estimated $384.5 billion annually?:
we were talking about tarp, but i'm happy to talk about the bailout
generally. in 08-09, all banks were leveraged 30-50* and multiples of
broke. insurance was pointless, and if they were allowed to fail, all
american savings would have been wiped clean. that makes the investment
worth it.
On 8/16/12 9:39 AM, mo_ntresor wrote:
> we were talking about tarp, but i'm happy to talk about the bailout
> generally. in 08-09, all banks were leveraged 30-50* and multiples of
> broke. insurance was pointless, and if they were allowed to fail, all
> american savings would have been wiped clean. that makes the investment
> worth it.
They still are. And it wasn't savings so much, as much of that was "insured", it was corporate reserves. Uninsured, and ridiculous quantities of cash, all stored in MM accounts as per corporate decree.
> > we were talking about tarp, but i'm happy to talk about the bailout
> > generally. in 08-09, all banks were leveraged 30-50* and multiples of
> > broke. insurance was pointless, and if they were allowed to fail, all
> > american savings would have been wiped clean. that makes the investment
> > worth it.
> They still are. And it wasn't savings so much, as much of that was > "insured", it was corporate reserves. Uninsured, and ridiculous > quantities of cash, all stored in MM accounts as per corporate decree.
not american banks, jon. companies (their money markets) are owned by
investors.
> >"President Barack Obama, campaigning in Iowa today, announced $170 million
> >in government meat purchases to help farmers struck by drought, helping to
> >send hog prices to a one-week high."
> Obama solidifies his position as Panderer-in-Chief.
> Add this latest pander to special interest groups (Iowa farmers) to
> his previous record.
> 1. Pandering to the Welfare Lobby by relaxing work requirements for
> Welfare eligibility.
Who is the 'welfare lobby'? I'm pretty sure the poor can't afford
lobbyists.
Opie G. Manager
Rec.Gambling.Poker
Assistant Newsgroup Coordinator Emeritus (2009-2011)
>> >"President Barack Obama, campaigning in Iowa today, announced $170 million
>> >in government meat purchases to help farmers struck by drought, helping to
>> >send hog prices to a one-week high."
>> Obama solidifies his position as Panderer-in-Chief.
>> Add this latest pander to special interest groups (Iowa farmers) to
>> his previous record.
>> 1. Pandering to the Welfare Lobby by relaxing work requirements for
>> Welfare eligibility.
>Who is the 'welfare lobby'? I'm pretty sure the poor can't afford
>lobbyists.
>Opie G. Manager
>Rec.Gambling.Poker
>Assistant Newsgroup Coordinator Emeritus (2009-2011)
The Poor don't need paid lobbyists.
They have all the lobby they need in government leaches who owe their
jobs to programs like food stamps and other Big Government welfare
programs.
------------------------------
Barack Obama - the Food Stamp President
> >> >"President Barack Obama, campaigning in Iowa today, announced $170
million
> >> >in government meat purchases to help farmers struck by drought, helping
to
> >> >send hog prices to a one-week high."
> >> Obama solidifies his position as Panderer-in-Chief.
> >> Add this latest pander to special interest groups (Iowa farmers) to
> >> his previous record.
> >> 1. Pandering to the Welfare Lobby by relaxing work requirements for
> >> Welfare eligibility.
> >Who is the 'welfare lobby'? I'm pretty sure the poor can't afford
> >lobbyists.
> The Poor don't need paid lobbyists.
> They have all the lobby they need in government leaches who owe their
> jobs to programs like food stamps and other Big Government welfare
> programs.
Right. Lots of big money in food stamps. The NYPD just blew through 3
billion dollars unconstitutionally spying on muslims (investigations it
led to: ZERO)... but yeah, we know where the real wasteful spending is.
Opie G. Manager
Rec.Gambling.Poker
Assistant Newsgroup Coordinator Emeritus (2009-2011)
>> >> >"President Barack Obama, campaigning in Iowa today, announced $170
>million
>> >> >in government meat purchases to help farmers struck by drought, helping
>to
>> >> >send hog prices to a one-week high."
>> >> Obama solidifies his position as Panderer-in-Chief.
>> >> Add this latest pander to special interest groups (Iowa farmers) to
>> >> his previous record.
>> >> 1. Pandering to the Welfare Lobby by relaxing work requirements for
>> >> Welfare eligibility.
>> >Who is the 'welfare lobby'? I'm pretty sure the poor can't afford
>> >lobbyists.
>> The Poor don't need paid lobbyists.
>> They have all the lobby they need in government leaches who owe their
>> jobs to programs like food stamps and other Big Government welfare
>> programs.
>Right. Lots of big money in food stamps. The NYPD just blew through 3
>billion dollars unconstitutionally spying on muslims (investigations it
>led to: ZERO)... but yeah, we know where the real wasteful spending is.
>Opie G. Manager
>Rec.Gambling.Poker
>Assistant Newsgroup Coordinator Emeritus (2009-2011)
Yeah, yeah.
It's the familiar "Hey! Look over there!" Syndrome.
It doesn't even have to be about controversial topics like the 2
mentioned.
Even the most insignificant, useless Big Government spending program
you can imagine gets the same response.
"Well, how about the money spent on <fill in the blank>?"
Same song, different verse.
Is it any wonder that no politician wants to get specific on proposed
cuts to Federal spending?
Is it any wonder that the spending keeps going up and never down, year
after year after year?
> >> >> >"President Barack Obama, campaigning in Iowa today, announced $170
> >million
> >> >> >in government meat purchases to help farmers struck by drought,
helping
> >to
> >> >> >send hog prices to a one-week high."
> >> >> Obama solidifies his position as Panderer-in-Chief.
> >> >> Add this latest pander to special interest groups (Iowa farmers) to
> >> >> his previous record.
> >> >> 1. Pandering to the Welfare Lobby by relaxing work requirements for
> >> >> Welfare eligibility.
> >> >Who is the 'welfare lobby'? I'm pretty sure the poor can't afford
> >> >lobbyists.
> >> The Poor don't need paid lobbyists.
> >> They have all the lobby they need in government leaches who owe their
> >> jobs to programs like food stamps and other Big Government welfare
> >> programs.
> >Right. Lots of big money in food stamps. The NYPD just blew through 3
> >billion dollars unconstitutionally spying on muslims (investigations it
> >led to: ZERO)... but yeah, we know where the real wasteful spending is.
> Yeah, yeah.
> It's the familiar "Hey! Look over there!" Syndrome.
> It doesn't even have to be about controversial topics like the 2
> mentioned.
> Even the most insignificant, useless Big Government spending program
> you can imagine gets the same response.
Not from me. There are lots of places to cut spending - food for the poor
for the price of a few months in Iraq isn't one.
> "Well, how about the money spent on <fill in the blank>?"
> Same song, different verse.
> Is it any wonder that no politician wants to get specific on proposed
> cuts to Federal spending?
> Is it any wonder that the spending keeps going up and never down, year
> after year after year?
Opie G. Manager
Rec.Gambling.Poker
Assistant Newsgroup Coordinator Emeritus (2009-2011)
Looks like you folks still don’t get it. Food stamps were invented by the Republicans through their corporate farmers. You know, the corporate farmers that are still getting handouts and subsidies. They wanted a bigger demand for their products in order to make more money. All part of your Farm Bill. I believe it's just about to $1 trillion dollars. Gee, them farmers still got their hands out. And you weren’t aware.
- The biggest danger to our country is an uninformed electorate.
