I can’t even get my Obama-forced abortion because i’m stuck in this federally mandated gay marriage.
Thanks for the links!
Somebody will be along to bail you out shortly.
AIUI, that’s not quite accurate – he claims reform wouldn’t enable a future taxpayer funded bailout. Assuming, of course, that the $50B fund to which Republican leadership objects stays in the bill.
Ever since the healthcare thing, republicans have taken to opposing Obama’s reform bills on the supposed grounds that they’ll do the very thing they are designed to prevent, but not that the bill will inadvertently cause problems, or that it will fail and cause the problem to worsen. No, they claim that the bill *contains *very problems that necessitated the bill’s creation in the first place.
Soon they’ll oppose an anti-global warming bill by saying it will cause global warming. Considering they claim global warming doesn’t even exist, the circularity of their argument will result in a handful of aneurysms.
It would be nice if we could get to a point where there is some negative consequence of simply lying about the verifiable content of a bill. We’ve become so acustomed to lying about things either too nebulous or indistinct to positively counterverify, like intentions or motivations, that we haven’t noticed that they’ve moved to flat-out lying about actual facts.
Perhaps, but I doubt it. We spent $700 billion on the last bailout; this proposed fund is $50 billion. Do the math.
:smack:
Perhaps there will be other measures to prevent the need for much more than a $50B pillow? But as you state, in light of $700B, this seems a bit like using an old pillow to break your 50-storey fall.
The difference is that the $700 billion came from the taxpayers - the $50 billion is funded from the financial industry. This is the issue that McConnell and his gnomes are obfuscating. Apparently it’s working because you believe them.
HA ha - you’re all going to get Canadian-style Death Panels now! Hah!
My brother-in-law tells us every time we see him that the US government is taking everyone’s guns away and creating huge concentration camps in Montana (I think that’s where they are). He’s stockpiling ammo and weapons, I think. Oh yeah, he also lives in Calgary.
It’s Obama’s fault. A tiny majority of citizens seized power using a political philosophy borrowed from the Greeks. Then the Senate repeatedly thwarted the will of a minority of Senators and ALLOWED DEBATE TO TAKE PLACE!! This was even broadcast on television without a warning to remove children from the room. This has to stop.
That explains your small population.
Yeah, our methods will get you guys down to manageable levels in no time. Have they started digging the mass graves yet?
What the Republicans are deliberately ignoring is that the $50 billion fund alone doesn’t get the job done. The more important part is extending the federal government’s resolution authority so they have the power to take failing firms into receivership to wind them down slowly. Once the government takes over there’s no firm to bail out. The shareholders are wiped out and the government winds them down slowly using the $50bn to keep the failure from causing a systemic failure in the financial system. It’s not a “bail out” because they’re gone once they’re wound down. They already have the authority to do this with real banks but not with other systematically important financial institutions like investment banks or insurers. That’s why Lehman failed and AIG DID have to be bailed out for billions and billions of dollars.
TARP was $700 billion. We actually ‘committed’ over $14 trillion to save the financial system, or about 25% of world GDP. There’s no real way to say what it ‘cost’ us but to your point, $50 billion has nothing on $14 trillion. It’s a diminutive 0.36% of what the last boondoggle required. Although I would argue the important part is that it’s not for bailouts at all.
If you guys don’t knock it off with the serious shit, you’re going to get this thread “upgraded” to Great Debates.
Yay GD! Land of 74-line posts, packed with the most refined boviniforous leavings to be found in the intarwebs!
Don’t
forget
the
unrelenting
post parsing.