naked capitalism

Anonymous says:

Why is dow not going up 700 points?

eh says:

Why is dow not going up 700 points?

Because they have the bailout money. Only an idiot wants to be long the market right now. A lot of the ’smart money’ actually is pretty smart — or at least not that dumb. This whole orchestrated market blackmail — give us the money or we’ll tank the averages and cause a depression — worked well enough. Mostly because the people in Congress aren’t that smart.

Anonymous says:

“Wait a couple of months until things reach crisis proportions again…..”

Or a couple of weeks, or a couple of days. Seems we’re approaching some sort of financial disaster singularity.

Anonymous says:

Nancy Pelosi signing the bill …and giggling.

mxq says:

The silver lining from today is:

So far, no politician has run his/her mouth and caused a panic in any business sector (that i know of).

But i can’t say that’s not going to happen tomorrow.

Anonymous says:

Now things get interesting hang on to your hats the ride ha begun

Anonymous says:

House Speaker Nancy Pelosi said about the terrible financial boondoggle for Wall Street,
“It is a vote we must win for the American people.” This proves you can go against the American people and reward the fat cat contributors to congressional campaigns and rationalize it to yourself. Lets talk turkey, Democrats in Congress practiced good politics to get a President Bush backed bill passed, so they remain blameless, which will get them elected in November, especially Sen. Barack Obama. Unfortunately, the Democratic action on the bailout bill will put America at greater risk and make the economic problems problem worse. Regardless what the fate of the nation is now, Wall Street bankers will just sit back on their newfound taxpayer money and laugh at our naïveté.

Anonymous says:

October 3, 2008

Whoever ran the PR on this Bail Out, nee “Rescue Plan”, should receive a bonus, but then again they were probably working on a 10% commission. Let’s see $700 billion x 10% equals…. In the end it was simple. Just scare the holy beejesus out of the politicos, and make them think they were solely responsible for creating the ruin of civilization as we know it, with a mere 32 days before the elections. Yes no brainer, but slick beyond slick nonetheless.

And…the best thing they did was to conjure up the 750 plus drop in the market on Monday. You know that Monday before the House even voted. You guys and gals know better than me just how easy it was to pull that off with all of the vested-interest-in-the-bail-out-traders just sitting around twiddling their thumbs with no trade lines to play with. Think about it.

Earl L. Crockett
Feeling sold out,
At The Beach
Santa Cruz, CA

Anonymous says:

I believe Paulson stated that it would take 2 or 3 weeks to setup shop before bidding or buying can begin with any bailout money. It takes time to setup a new bureaucracy that will only benefit a few and saddle the remaining with debt.

Richard Kline says:

Say goodbye to the First Republic of the United States. It took but two weeks to throttle it with a purse string, then drag the unconscious weight to a golden bath tub and drown it in red ink. Salute, and throw a flag over the corpse: to the extent that we were ever a democracy, we are one no longer. Instead, we’re an oligarchic kleptocracy, operating within a framework of corporate fascism. Really, that’s been the case de jure for ten years (yes ten); now it is the case de facto. Sounds melodramatic, yes . . . no. The truth more often comes in on gray cats’ paws than with claws and trumpets. This is the way a failed state ends, not with a bang but a simper.

Eight hundred and fifty in costs to cozzen private parties, and not a cent of revenue dedicated means the Devil holds our note—and that one always collects, with interest. If this is the best our ‘dealership’ can get the public, we deserve to fail. It gives me no pleasure to say that, but I call it like I see it. [Even the word verification thinks this pigout payout is 'ugola,' and I couldn't coin a better neonym if I tried.]

donna says:

Eh, it’s just the new way of shorting the market. If they won’t let the shorts happen, we get this insane volatility.

Ride it out. Yes, we’re going down for a while no matter what. They can add all the liquidity they want, doesn’t matter a bit when nobody is solvent.

We can’t monetize the shadow market, no matter what we try to do.

Anonymous says:

YA THINK ITS A BEAR MARKET?

Paisano1 says:

This bailout will go down in history as the last act of Congress in a Free America – they will not be coming back into session – stock up on the essentials: beans, rice, gold, ammo.

http://tinyurl.com/4zygyh

Hello Fascism!

bg says:

I want to second FailEconomists thanks to Yves. You have been one of a handful of voices that has fought this thing with detailed and articulate discussion.

I could not turn on my computer for 12 hours after the bill passed (denial, bargaining…)

A lot of the electorate has been woken up. The fault lines are moving to Washington.

A small band of intellectuals can have disproportionate influence on policy. So please keep up the good fight.

Anonymous says:

Afghanistan, as “another example of how America can build a better world”?

Oh jeez, I laughed till the tears ran down my cheeks. Your deadpan delivery of these wacko sentiments just slays me.

The troops will come home from Afghanistan when their checks bounce.

DEATH TO THE DOLLAR!

– Juan Falcone