Monday Morning Bailout Links: R.I.P. PPIP (Sayonara Mothafu**kas)

I'm posting all the links in comments.  There are no text formatting issues that way.  I have 172 tabs open within 5 different firefox windows and am approaching this version of Thompson. I will aim to narrow it but that's only if things don't get too weird first.

It was a cool ride into the desert. Cool, I suppose if you think floating an inch from a buffalo's ass is a sane way to see anything...(me)

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Cuz We All Know That Jesus Didn't Turn Water Into Dr. Pepper (Song)

It's still officially the weekend so I'm putting up one last bailout protest song.

I have been asked frequently in emails from readers to post "Shuttin' Detroit Down" by John Rich, so I searched and found 2 good clips.  The first is in studio; in the last 30 seconds or so he talks about Wall Street and bailing out banksters.

The 2nd clip is live on stage and has an introduction that's pretty entertaining and includes the quote I used for the title: "Because we all know Jesus didn't turn water into Dr. Pepper."

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Photo And Drawing Essay On Thomas Jefferson ('Time Wastes Too Fast' By Maira Kalman, NYT)

See the entire wonderful essay HERE.  I have included 4 of the drawings inside.  It comes with my highest recommendation.  Even Jefferson scholars will learn something new.

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The Recess Ends: Recession Filmakers Austin & Brian Chu (Clip)

Brothers Austin and Brian Chu of Irvine, California travelled the country (all 50 states) filming scenes from the recession for a documentary to be released in September.  Austin contacted us and we're happy to showcase their work.  Visit their site for pages of beautiful photo essays and video shot while travelling.  We've got photos and 3 short trailers inside.

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Mocked By Moscow: Russia Understands What Geithner Does Not

Even Former Marxists Know How To Do Bailouts

First we were mocked by Pravda.  Now, if leaked reports are true, our bank bailouts will be further exposed as the morally-destructive giveaways to the banking class that you know them to be.  Even the former followers of Trotsky and Marx know how to conduct a bailout; you gain control of failed banks in exchange for government cash.  Russia will reportedly demand board seats and veto rights from all aggrieved institutions.

In a few months don't be surprised if you hear that Marx and Castro have embarked on a global-influence tour proposing debt-to-equity conversion for failed bank bondholders. Stranger things.

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Bailout Barney And Shrill O'Reilly (Clip)

Frank and O'Reilly Discuss Condos and Social Engineering

It's a short clip (2:24).  Bailout Barney actually makes a good point about Fannie Mae condo financing requirements.  It's a difficult issue but without some change to existing loan requirements, units will continue to sit unsold.  And more existing owners will be forced to sell because of their inability to meet the monthly association fees, which have skyrocketed in some cases due to fewer tenants per building.  See where this is headed--another trip back around the recessionary death spiral of foreclosure.

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Warren Buffett: I've Had Cataract Surgery And I Still Can't See Any Green Shoots (CNBC Clip)

I've always appreciated Warren Buffett's honesty. He did not disappoint yesterday, while discussing the economy with his favorite reporter, CNBC's Becky Quick:

"Well, it's (the economy) been pretty flat. I get figures on 70-odd businesses, a lot of them daily. Everything that I see about the economy is that we've had no bounce. In the (Berkshire Hathaway) annual report, I said the economy would be in a shambles this year and probably well beyond. I'm afraid that's true."

"I looked. I wasn't seeing anything. I had a cataract operation on my left eye about a month ago and I thought maybe now I'll be able to see green shoots. We're not seeing them. Whether it's retailing, manufacturing, wherever. We have a big utility operation. Industrial demand is down like we've never seen it for a simple thing like electricity. So it hasn't happened yet."

Photos, Interview and Transcript

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El-Erian: Discussing Green Shoots and Fed Exit Strategies (Clip)

"You don't want the Fed to be a direct player in so many markets, because by definition their incentives are noncommercial," El-Erian said. "So it's in the interest of the market to have the Fed gradually—and the critical word is 'gradually'—step back to the sideline and act as a referee, not as a referee and a player."

Briefly, PIMCO's El-Arian, like Warren Buffett, sees little to no positive economic activity at the end-user level.  More are coming back to the notion that though we may have stopped the massive decline, the rebound from these lower levels is practically non-existent.

We need to accustom ourselves to the reality that economic numbers during the credit bubble of the last decade were artificial, and were symptomatic of the easy-money policies of Greenspan and later Bernanke. The lower levels that we're experiencing now are the new 'normal'.  Get used to it.

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Bailout News Video: He's An Original. He's Back. And He's Still Not Very MF'ing Happy. America's Most Talented Economic Ranter Has A Few Words For You

Updated on Jun 25, 2009 at 9:56 AM by DailyBail

Editor's note: This story was originally posted in February meaning most of you haven't seen it.

The genius has returned.  Walstreetpro2 is fresh off his unfair suspension on youtube and is back to making sense on the airwaves. It's 8 minutes and completely profane. NSFW.

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Female Fed Tin-Hatter: Maybe Just A Bit Over The Top (Clip)

She had me when she said both political parties were corrupt.  But something about the office decor, and her (extra) enunciation kept me back.  Fed conspiracy theorists need to pay more attention to presentation in their efforts to win converts.  Thomas Paine eats slow-talking, Fed tin-hatters for breakfast, lunch, dinner and snacks.

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Federal Reserve By Painting Tasters (Song) (Clip)

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'Painting Tasters' are readers of TDB and sent us their original song about the Federal Reserve.

Filed Under: bailout songs, protest songs

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'Here's To You Mr. Jefferson: We All Miss You More Than You Will Know' (Song By Simon & Garfunkel)

Mike Church with some help from Simon & Garfunkel

This is a must-listen.  The lyrics are excellent.  Anybody want to transcribe them for us and post them in comments, I won't complain.  It's that good.  Also some photos of Jefferson's greatest accomplishment inside.

See also:

Jefferson's Top 10 Quotes On Money And Banking

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'Big Old Federal Government' Song By Phil King & WhiteCollar Woody

Nice little song about our not-so-little federal government performed by Austin, Texas guitarist-songwriter Phil King of the Flattcar Rattlers with original lyrics by WhiteCollar Woody.

Songs

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Complete Prepared Statement From Fed Chairman Bernanke (Clip)

Prepared remarks from B-52 as he addressed Congress to discuss the Fed's role in forcing the merger of Merrill Lynch and Bank of America (8:24).

"I shot the sheriff, but I did not shoot the deputy."  Bernanke photos and today's transcript.

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