Take a stab at this morning's roundup. Harley Davidson, the auto suppliers, the New York Times and Obama's big bailout decision. Will he choose to save you or the bondholders? Guess which way he's leaning.
Updated on Jan 20, 2009 at 1:53 PM by
DailyBail
Comments from George Soros on Tarp and the stimulus. Also stories on the new UK bank bailout, the US Postal Service seeking aid, the UN demanding a bailout for Cuba, plus Jimmy Rogers speaks.
Xanax not included.
Updated on Jan 20, 2009 at 3:40 AM by
DailyBail
Hold the grammar and punctuation, just a rant with a side of huh, seriously, wtf?
We're partial to calling it 'Dumb, Dumber and The Big Ignoramus.'
Stab at who is leading this group of brainiacs.
Watched some three stooges this afternoon and ended up realizing that I'm a stooge along with every other taxpayer in America. The key to the quick success of TARP was the brainwarp that financial vocabulary occasionally has on non-financial people, including 99% of our politicians. None of these clowns felt sufficiently versed in the basic concepts of securitization to challenge the talking points from Bernanke and Paulson. When you find yourself so clueless that you don't even know what it is that you don't know, it's safer to keep your mouth shut and occasionally grumble about the unfairness of it all. Then vote yes anyway, because you can always remind voters that you did grumble.
Why didn't we explore the creation of 7 new banks and give each of these banks $100 billion in fresh capital. This would have been much healthier than attempting to keep this amalgam of toxicity alive. But for reasons still not fully explained, Bernanke and Paulson chose the path of stooges. And here we are 3 months later, with little improvement in credit markets or lending.
Let's face it. It was a busy week for bailout news and a great week for DailyBail to get started. We're excited here and are looking forward to unveiling some of our bigger plans soon. We appreciate everyone stopping by during our soft-launch and hope that every single one of you will take a moment to post something in the comments section of one of our stories. Just pull out your soapbox, step up and tell us how you feel about spending your tax dollars on bailing out failure. Share something. We accept all forms of anger and frustration. Though cliche, there is strength in numbers and ours are growing by the hour. Tell your friends about us; tell your neighbors, heck tell anyone that cares about their future and that of their children and grandchildren. We are here now. We are not going away. Everything else will fall into place, including our elected officials. Washington can be made to listen and soon we will launch the means to make them hear us. So join up with your fellow sufferers here for a few minutes and give us a piece of your mind.
It's the weekend and that means Beach Party Bailout. This is a strange ritual where everyone gets depressed, puts on their suit, and heads to the beach in the middle of winter, and then freezes. It's great fun for the whole family and the only costs are time, sanity, and the occasional ridicule from others. It's sorta like being obsessed with following bailout stories, where the only costs are time, sanity, some ridicule and just one more little thing, our nation's future. First, hide the kids, the guns and the liquor, and then it'll be safe to go surfing. Ballyhoo!
In the tradition of the old SNL catch phrase popularized by Chevy Chase: "Generalissimo Francisco Franco is Still Dead", we humbly submit that Bank of America CEO Ken Lewis is still not fired. In other news, you gave Lewis a bunch of cash yesterday and offered up a particulary tasty asset guarantee. Take the Saturday morning click ride to see just how generous you were with the terms of the deal.
The vice-chairman of GM apparently does not appreciate having to fly commercial. And it's your fault. Nor, apparently does he have any sense of how not to sound like a buffoon when he speaks. Read on to see exactly why he's so upset with you.
The Senate wasted no time on Thursday on its first date with the new President. Reports are that the orgy could could be heard as far away as...(editor here: stop this line of description, DailyBail, or else!). Ok, the Senate approved the release of the second tranche of TARP funds ($350 billion of your money) to the incoming Obama administration. The request is expected to face little difficulty in clearing the House. That's just peachy. Great News. Click thru to read about the ease with which your money has just been spent.
Nice. Henry Blodget is on a roll. His ire has been raised and there's no outlet except his keyboard, apparently. In his latest piece, he calls on Ken Lewis to resign or face being fired by his shareholders. It's a doozy and merits a second front-page DailyBail appearance for Henry in less than 24 hours. Some very good stuff after the jump.
Filed under 'Ken Lewis wants more of your money', the great taxpayer fleecing continues unabated. In Bank of America part II, the details are starting to emerge and they aren't pretty. Click through to see how much of your money they are getting this time.
The public bailouts of private failure must stop. We just launched and our first goal is to document it. We'll find it, read it, sort it and then publish it in one place every day. There will be bad attitude. We know we might get sued for what we say about these scumbag, public-dole CEOs. But we own these companies now, and we recommend the CEOs begin to behave accordingly. Otherwise, we'll be happy to profile these riptards all over our pages. Incessantly. Watch and see how far over the edge we'll go now that we're getting seriously pissed off. For example, see the thoughts of this calm taxpayer. Warning: contains excessive profanity.
And since nobody obsesses in quite the way we do, we expect to remain the only news aggregation source for all stories related to the institutionally dysfunctional, painfully inept and completely counter-productive taxpayer bailout of failed people, ideas, businesses, pensions, municipalities, states and ultimately, we fear, of our federal government.
Tell your friends about our site and what's going on in Washington. Help us spread the word about the immoral transfer of debt from failed, private banks directly onto the backs of your chldren. And to young people directly, seriously wake the f up, and realize that it's mostly your cash that's headed out the door.
DailyBail
Henry has a post up now on clusterstock that Bail readers will appreciate. It's worth the click-thru to see why Henry is so steamed.
The WSJ is reporting tonight that Bank of America is close to announcing a $20 billion infusion from you and your children. It appears Lewis approached Treasury in mid December to make his case after seeing the terms of Citi's Deal Part II. Translation: Ken wanted what Vikram got. And to the surprise of no one here at DailyBail, he's going to get it.