naked capitalism

ndk says:

The leaders of this compromise have been very loud in repeatedly claiming there was a successful agreement in various permutations. I personally believe that’s irresponsible at best and a reprehensible negotiating tactic at worst.

Every time I hear, “there’s a broad and growing consensus that…” I cringe.

Nevertheless, the game just changed again, and I’m not convinced Paulson and the Bush administration have a predisposition towards this allocation of funds. There’s probably a lot of banker left in Paulson somewhere, but it could be a political football at this point, and I as a rule avoid and know nothing of politics.

This does make it very difficult to claim that any bailout money has gone towards preservation of jobs, beyond the CP facility, doesn’t it? Maybe I forgot some other of the myriad programs, but…

ndk says:

I’ve always wanted to cut those states loose. Maybe now there will be others who agree with me!

You should’ve voted for Colbert. He doesn’t seem to have done well in the primaries, though, so you’ll probably have to raise your own army.

mxq says:

Exxon needs to donate to the bail-out-an-oil-junkie fund.

Anonymous says:

I was going to buy some stock in Remington Arms company tomorrow, but wow, looks like Cerberus owns the whole kit’n'kaboodle.

Heads Cerberus wins, Tails we lose…

Merry X-mas… I bet the suppliers start announcing layoffs tomorrow, no sense waiting for the bk filing, they ain’t getting paid…

Sen. Corker, Sen Kyl, and Sen Shelby, I, on behalf of my 80 year-old widowed grandmother, who survives on a GM pension – salute your patriotism. My tax money was MUCH better spent on AIG.

Anonymous says:

Wall street IB’s get hundreds of billions in days with NO oversight or any strings attached.

Millions may be out of work (even 500K is a lot) and this will hurt the real economy.

I truly wonder if this is all staged to make it look like they tried real hard.

I think the whole point was to fire/restructure labour costs and screw the well paid employees and unions over.

Only in a ‘crisis’, engineered or not, can you accomplish what seems impossible in better times.

I think this is about crushing the union and pensioners. Now that hey are over a barrell, what can they say?

If congress truly is against bailouts they are a little late – all the money is GONE into the black holes called banks. The autos simply want the scraps.

Thomas Jefferson – ye knew the bankers too well!

eh says:

Something will be done. In the end Paulson would seem to have broad authority to use TARP funds, and I imagine the White House would direct him to steer some of that money to the automakers if this bail cannot progress.

What a market. Even if you decide there is too much risk to wade in — and who could blame you — or are not always on the right side of trades if you do, you have to be amazed at the movements and the profit potential.

Anonymous says:

everyone should be cheering this event.

Anonymous says:

Now the money has to come from TARP. TARP has only 15B left and Paulson is not going to release it without a sign-off on the second TARP installment. To do that the congress has to come back from recess and I don’t know how difficult it will be to reconvene congress, have useless debates, do arm twisting etc. etc. and have a sign-off during this break.

john bougearel says:

@ ndk

“Every time I hear, “there’s a broad and growing consensus that…” I cringe.”

Here, Here!
Euphemisms of any ilk that smack of reasssureances and false security makes me cringe as well

@anon 12.36
good point, rome burns and lawmakers (pelosi) calls a recess

artichoke says:

I think that this is the right outcome for this negotiation. Things can be fixed up in Ch. 11, that is the right destination.

But especially after this, there had better not be Wall Street bonuses this year, top to bottom. TARP money cannot go to bonuses.

purple says:

But especially after this, there had better not be Wall Street bonuses this year, top to bottom. TARP money cannot go to bonuses.

Stamping your feet won’t make it so. They don’t give a damn what you think.

charlottemom says:

To 11:07

Your blaming of Dems and Obama illustrates your blind loyalty to the Republican way.

Many to blame here. Obama is NOT the President, he’s the President Elect. Bush is nowhere to be found. Guess what = he’s the President who should be dealing with this, sez The Constitution. shesh!