Posted by
rycK on Friday, November 14, 2008 3:21:40 PM
Puffington Huffs and
Snuffs Over the Bailout. She has No Suggestions but Waits for Jan 20.
One of
the more animated utensils of the far leftist political wherewithal is Arianna Huffington or The
HuffyPuffer as I like to call
her. She routinely turns the crank on
her old rusty hurdy-gurdy and toots the matching old stale songs for the idiot,
Marxist
left with pieces illustrated by this reference:
The Puffer is always instantly annoyed by the right,
but was outraged by the lack of glitter and foam on the Paulson Bailout. She
has no solutions to offer, but will suffer in this conservative cesspool until
Jan 20, when the Afro-Leninism of
Obama
and his SDS allies in crime and are solemnly
installed and saluted. The Glory will
begin soon after that. Peace and prosperity will flow like honey from the trees
and mountains. Wonderfulness will be beyond belief.
“So,
$290 billion into his bailout plan, Hank Paulson is calling for a do-over. Now there is a confidence booster”-- House Dawdles, and
Congress Dithers, the Economy Continues to Burn. Arianna Huffington Posted November 13, 2008 [Emphasis is mine in all quotes. This
link references all quotes in this essay unless otherwise noted. ]
Can we
Huff or Puff a better plan? Let us hear it! Give us some confidence in Obama.
“Providing
"I-told-you-so" talking points to the what's-the-rush crowd, the
Secretary of the Treasury announced yesterday that the government is no longer going to use any of
the $700 billion Congress allocated to the Troubled Asset Relief Program (TARP)
to buy, well, Troubled Assets from financial institutions -- the original
centerpiece of the plan.”
The
Democrats bawled for this and urged Republicans to vote along with them. Are
you sorry now? We need to hear from the howling left that using government
money to buy up worthless debts is a good idea. Nancy Pelosi thought so as she
pushed hard for this and risked cracking her brittle face again in the battle.
We
struggle to find a neat Puffy solution to the upcoming depression. Instead, she focuses on oversight. Poor
planning for Pelosi and Reid?
“But
despite over a quarter of a trillion dollars having already been doled out by
Paulson, so far both the inspector general position and the five Congressional
Oversight Panel slots remain unfilled.”
When
Pelosi writes in things like this:
(A) INJUNCTION.—No injunction or other form of equitable relief shall be issued
against the Secretary for
actions pursuant to section 101, 102,
106, and 109, other than to remedy a violation of the Constitution.
110TH
CONGRESS 2D SESSION H. R. ll To provide authority for the Federal Government to
purchase certain types of troubled assets for the purposes of providing
stability to and preventing disruption in the economy and financial system and
protecting taxpayers, and for other purposes.
Just what
would oversight do? Paulson has more power than Hitler and more wealth to chuck
around Wall Street than Cleopatra. The Democrats gave him that power.
Huffing the Depression Ariana quotes:
"The
labor market is deteriorating more rapidly than previously thought,"
Andrew Gledhill, economist at Moody's Economy.com, told CNNMoney.”
We are
facing a depression.
“On the housing front, another 84,868 homes were lost to
foreclosure in October; there have been 936,439 home foreclosures since August
2007. And the housing future continues to look bleak: in October, 279,561
borrowers received at least one foreclosure-related notice, including default
notices, notices of auction sales and bank repossessions, according to
RealtyTrac. One in every 452 housing units received one of these. Nevada,
Arizona, and Florida had the country's top
three foreclosure rates.”
How
about the 5 million mortgages held by illegal aliens? Can we ask if giving zero-down mortgages to
illegal aliens and those with no credit was a good idea?
“January
20th cannot arrive fast enough for the American people.”
And what
would you suggest Obama do then? Raise taxes? Dissolve the army. Put in a local
Gestapo? Raise some more taxes?
The time for criticizing the Republicans is
nearly over. Those morons who voted for O’Bozo now want to hear that some of
their problems will be solved. So far, we have heard nothing but criticism and
bladder splatter from the rabid left.
There is no hope. The phony CRA and other Marxist
giveaways to the ‘poor’ and illegal aliens has put us down 3 trillion in debt
and there is no way to recover from this especially if we just soak the
taxpayers for the rescue. Let them go down I say as I did for Bear Stearns and
the rest of the Wall Street bozos.
From a
previous blog of mine:
“The CRA [the phony Community Communist Reinvestment Act] created mountains of bad debt by
forcing banks to give away free houses to the uncreditworthy low class in
exchange for their votes under penalty of prosecution by the government. You
were supposed to wipe out Redlining
and replace it with Greenlining.[12] Minorities must have loans [free if necessary] so they can participate
in the American Dream. This is known as ‘affordable housing’—you cannot afford, but the
illegal aliens and criminals and ‘poor’ certainly can. The cost is essentially zero. The thrust by
the left now is to ‘suspend’ foreclosures that were a result of not paying off
their loans and use some bank or government money [what else from a socialist?]
to pay for the monthly mortgage payments.
Illegal aliens and dope dealers are most welcome.”
Get Huffied and Puffed!
Get into the soup lines. The tax-whoring and socialism of California, New York, Michigan and New Jersey are the real chickens that are
coming home to roost.
The New Great Depression is upon us and we can abandon all hope:
“The modern warning to us all is the "Lost Decade" in Japan, a loose term for the on-again, off-again slump
that ultimately led
to zero interest rates and – when that failed – to the printing of money. After 18
years, the Nikkei stock index is now trading at 8,700 – down from a peak of
nearly 40,000. House prices have fallen by half. Yet after all the stimulus, the
country is once again tipping back into deflation.”-- Abandon All Hope Once You Enter Deflation by By Ambrose Evans-Pritchard.
Telegraph [London] 12 Nov 2008.
Yer turn in the toilet liberals. Hike taxes first and tax us
back into prosperity.
rycK
Comments
to: ryckki@gmail.com
“Bear
Stearns made the first public securitization of Community
Reinvestment Act (CRA) loans started in
1997.[6] Editorialists in some American
newspapers[7][8] and US Congressman Ron Paul[9] say the CRA loans were lent to
otherwise un-credit-worthy consumers in the name of ending discrimination,
although an analysis of actual lending patterns does not generally support this
conclusion.[10][11][12]
On June 22, 2007,
Bear Stearns pledged a collateralized loan of up to $3.2 billion to "bail
out" one of its funds, the Bear Stearns High-Grade Structured Credit Fund,
while negotiating with other banks to loan money against collateral to another
fund, the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund.[13] The funds were invested in thinly
traded collateralized
debt obligations (CDOs)
found to be worth less than their mark-to-market value. Merrill Lynch seized $850 million worth of the
underlying collateral but only was able to auction $100 million of them. The
incident sparked concern of contagion as Bear Stearns might be forced to
liquidate its CDOs, prompting a mark-down of similar assets in other
portfolios.[14][15] Richard
A. Marin, a senior executive at Bear Stearns Asset Management
responsible for the two hedge funds, was replaced on June 29 by Jeffrey
B. Lane, a former Vice Chairman of rival investment bank, Lehman Brothers.[16]
During the
week of July 16, 2007,
Bear Stearns disclosed that the two subprime hedge funds had lost nearly all of
their value amid a rapid decline in the market for subprime mortgages.