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Deny and Shred's Journal - Archives
Posted by Deny and Shred in Latest Breaking News
Mon Oct 13th 2008, 11:36 AM
to whom do they sell?
They engineered a buy-out for stability, but I seriously doubt that either government wants to remain quasi-socialist owners of the firms that represent 'market forces.' I imagine they will hold their shares until (or if) the banks do recover, and then look to unload their shares.
I expect they'll engineer a big one-time sweetheart deal a few years from now to to an institution who will see the real windfall.
I don't think these governments (US in particular) want to see this as a fundamental shift away from how the markets operate. Strictly a stability move. Once stable, it'll be back to a similar philosophy.
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To even try to show respect to a foreign culture is to Kow-Tow. To deny that is to live in fantasy-land.

Hot Dogs, Beer, Apple Pie, Hunting, Power Tools ... these things are American. America won the culture war, so Love It or Leave It!

Caring how 'lesser' cultures pronounce things, or caring how they feel about it, is elitist and defeatist. Either they become American vassals, or get bombed back the Stone Age. To think there is middle ground makes you an ineffectual hippie who'd join hands with our sworn enemy and sing Cumbaya.

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Posted by Deny and Shred in General Discussion (1/22-2007 thru 12/14/2010)
Tue Sep 30th 2008, 10:30 PM
Printing the M3 again would be a move toward transparency, but might truly scare the global financial world. It could be a very bleak piece of news.

Obviously, something extreme has been happening and getting worse. The 'toxic' derivative market has terrified all financial players into near paralysis.
Bernake started a plan of buying CDOs et al, and accelerated it to $30 bil a month after Bear Stearns. Nobody balked. Nobody even talked. I'm surprised Paulson didn't just add a zero to that program.
My guess is that since nobody is asking about that, Paulson thought he could propose a similar thing only with a bigger price tag. The price caught everybody's attention.
The federal government's cherry-picking of who ought to fail, whom to save, after how much in losses should the Federal guarantees kick in, and government agency-brokered deals between companies is truly bereft of logic, fairness and transparency and ought to stop. I notice Paulson's timing was before his beloved GS followed suit.

Show us the results of Bernake's ongoing program - who is selling, what have the taxpayers bought, probabilities and timeframes for seeing a return on those purchases, and then maybe we can get a disparate body like Congress to work on tweaking their various plans. Until then, it's looking like good money after bad.
The complexity and opacity make formulating a way out of it a guessing game.
If it is as bad as some say, we ought to get it right. Even the mighty US Federal Government has only so many $700 billion bullets it can fire.

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Is it Utopian of me to hope said party can live up to supporting the principles you laid out, or cynical to doubt they can? A bit of both, I guess.
I know abortion has been the major GOP wedge issue, but never looked at it as something they prefer to keep AS a wedge issue vs actually pushing to overturn Roe v Wade. Very insightful.
As for taxes, the GOP cast their lot long ago with the assumption that the free-market has all the answers and the government can only get in the way. With that philosophy, they don't try to solve anything. They take the easy way out by promising permanent tax-cuts and passing the buck or all other problems as those of the individual. To the demise of visionaries in government, raising taxes and proposing new projects with any price-tag of significance has become political suicide.
The NRA still believes in the domino theory, and assault weapons or cop-killer bullets would be the first domino. For them, there can be no give on this issue ever.
Sometimes I think of Machiavelli, sitting in prison, knowing the government responsible for his being behind bars is corrupt and inept, hoping for a coup. I think I'll try Gallileo now. Thanks.
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Posted by Deny and Shred in Latest Breaking News
Sat Sep 20th 2008, 10:01 PM
"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

$700 billion to funnel however he sees fit with immunity from the law and no strings attached. No re-regulation, no changes to the manner in which business is done of any kind.

All this comes on the heels of Bear Stearns and Lehman. You'd think Paulson would have let JPMorgan go bankrupt too. Now Goldman still has a competitor left standing.

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Posted by Deny and Shred in Latest Breaking News
Sun Aug 31st 2008, 09:43 AM
To paraphrase Alberto, the Constitution, Right of Assembly, Civil Liberties have become quaint.
Once Bush is out, I say use the same legal framework to raid and dismantle the GOP think tanks and paramilitary firms from Project for a New American Century to Blackwater.
Lord knows they pose a much greater actual threat to a secure 'homeland.'
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Posted by Deny and Shred in Latest Breaking News
Sun Jul 27th 2008, 10:54 AM
By imbedding reporters, and keeping most decisions behind National Security, it means that stations and papers have had to ASK for a story. Virtually every story reporting on Administration dealing from 2002 through most of 2007 would quote "high level Administration officials", "sources close to the negotiations", "officials speaking on condition of anonymity", etc.
Never someone with whom anybody else could fact-check or ask follow-up questions. We'd get only the part of the story they wanted out there for public consumption.
Then others (like Cheney on Meet the Press among many other examples) would refer to the article in the paper as if it's the whole story, to give the company line credence. Not once to I recall a major news outlet calling this bullshit and one-sided. The smaller ones were brushed aside and complainers, unpatriotic, unsubstantiated, leftists, wacko bloggers.
A liberally-biased media wouldn't have even played this game. Since these were major issues affecting the nation, and this was the only available info on the decisions being made, people were interested. In the name of ratings, they all played along.
Much of the Administration's ability to affect the spin has been slipping in the past months, but they had them eating out of their hand.
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Posted by Deny and Shred in General Discussion (1/22-2007 thru 12/14/2010)
Tue Apr 01st 2008, 09:06 AM
He never wanted to use diplomacy - force only, baby.
He trusted the NeoCon plan of toppling the dominoes arrayed against Israel. First, Iraq, eventually Iran, Syria, and any remaining Arab supporters. This way, he doesn't have to broker anything. With force as the guiding principle, the region and world will fall into line.
Diplomacy is a last resort for him and them. I think after the Israel/Hezbollah/Syria '06 fiasco and the departure of Rummy, Condi and the State Dept finally could have a bit of a voice. Bush realized he ought to do something, because his MidEast legacy is looking like, well, ....
The diplomacy road started with Powell's RoadMap, then went nowhere. Bush is simply grasping at straws. He thinks he'll be able to say "I tried, just like my predecessors, but couldn't git er done." He has no clue the problems he's wrought for the future.
As for the library, that is ancillary. A crumb for a job well done. The plan was to leave the Saudis in the dominant position in the region, clear out the competition. With the oil profits and billions in arms we've sent, that might still be the case.
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Posted by Deny and Shred in Economy
Wed Mar 19th 2008, 04:37 PM
signed it a couple years later. Bush hasn't found a deregulation or easing of rules on corporations that he doesn't like. The repeal of Glass-Steagall was going to happen with or without Clinton.
At the time (late 90s) the NASDAQ was flying, tech companies were trading into the couple hundreds - splitting- and going right back up to ether levels, IPOs touted ever higher by their own analysts were the huge moneymaker for investment banks, and everyone wanted in on the big profits.
Given the political landscape (ascendancy of lobbyist and big money influence, and the soon to be Republican 3 branch majority) it was just a matter of time before Glass Steagall was repealed.
The allure of easy money for Wall Street combined the general misunderstanding that the Internet would create a never-ending productivity and stock price boom through which the middle class would be able to retire early is where I place the blame.
Congress wasn't going to resist, and Bill CLinton ought not shoulder the entire blame.
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Posted by Deny and Shred in Latest Breaking News
Thu Mar 13th 2008, 12:25 PM
US Treasuries amounts to the government covering their bad bets. It smacks of a wink and nod as well.
"Hey, these hedge funds sure are raking it in. My pals ought to get in on it, and if they get in trouble, the Fed will take care of it."
The ultimate slap is the number of hedge funds that are off-shore. They'll take our bail out to try to get back on track. If they ever do, they won't even be paying US taxes because their HQ is in the Caymans.
Just another of the many ways this Administration has sought to raid the public coffers.
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Posted by Deny and Shred in Latest Breaking News
Fri Mar 07th 2008, 07:35 PM
I'm reminded of the time he was asked several years ago of if he's ever made a mistake during his presidency. He sat there yammering for 5 minutes, "Hmm, mistake, well, that's a tough one, heh, heh, not sure, I'd have to think about it. Hmm"
The basic credo to be espoused by the figurehead of the Neocon movement is: "Never backpedal."
No matter what you've done, never distance yourself, express doubt, second-guess, or apologize. That shows weakness.
Stick to the plan, give it time to work, and if the entire world is ripping itself apart, if every decision appears to be blowing up in your face, if you've been caught red-handed...
... then you just haven't given it enough time, because WE, the Neocons KNOW that our ideas are the only ones that are right, good, proper, and anyone who doubts that is unpatriotic, communist, aiding and abetting the terrorists, doesn't love America ... you've heard these idiots for 7 + years, now, y'all can fill in the rest as easy as I can.
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Posted by Deny and Shred in Latest Breaking News
Sun Mar 02nd 2008, 08:36 PM
I think that medal goes to those who occupied key positions whose help was necessary for BushCo to scam the US and the entire world.
Given their PR campaign immediately post 9/11, shouldn't it be either :
The Medal of French (and in Freedom Fries) or
The Medal of France (to be grammataclly correct for most usage)

Blair is subject to ICC, and doesn't enjoy the basic MSM blackout as Bush, so his future and legacy will be interesting to watch. He single-handedly brought his Kingdom (UK) along for Bush's ride, so he deserves all he gets.



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Posted by Deny and Shred in Editorials & Other Articles
Wed Feb 27th 2008, 03:07 PM
would plummet immediately.
The basic fraud that has been perpetrated with respect to taxes is the Ray-Gun legacy of rewarding wealth over work. Middle class workers pay more in net tax through payroll & income taxes than they would from equal income 'earned' through capital gains and dividends. Wealthier individuals earn more through the market than mid and low income people, so they pay less comparative tax. Though Ronnie expected these wealthy individuals to put that $$$ to work by opening new businesses in America, many never did vis a vis putting the $$$ to work in the stock market, emerging markets or moving their growing riches offshore.
A strong argument can be made that supply-side econ has pulled $$$ out of U.S. new business investment. These investments do far more for the overall US economy through the multiplier effect than investing it in the market. Fortune 500 companies are multi-national, and put their profits to work wherever they deem best, not necessarily domestically.
Rule of Thumb - A suspicious name for a Republican initiative will accomplish the opposite of its name, like Operations Just Cause, Enduring Freedom, and Infinite Justice, or carry an obvious connotation indicating how the masses ought to feel about it, like Death Tax, or in this case, Fair Tax.
Low income individuals who hardly save would get killed, paying tax on 100% of their income. Billionaires would pay tax only on what they spend, a % potentially in the single digits.

It is Fair Tax on the Poor, fair, good, very good, outstanding scale, and that's being generous.
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Posted by Deny and Shred in Latest Breaking News
Tue Feb 26th 2008, 05:33 PM
a chance to attain the cohesion necessary to function on its own? For Iraq to be able to govern and protect itself? When will we get a timetable on that one? How's that going?
How many members of Iraqi Parliament live in another country for their own safety? How many show up when Parliament meets?
Once we stop paying the Awakening Councils, whom we've armed, how long will this hiatus in violence last? Shall we ask the Kurds how they think the Surge is working?
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Posted by Deny and Shred in Latest Breaking News
Mon Feb 25th 2008, 07:41 PM
Three times today he begs the House. Sticks to your guns, House Dems. Your Senate brethren did sell out, but as J.Conyers said, I can't grant immunity if I don't know the crimes I'm forgiving.
Earth to GWB, if your hubris hadn't prevented you from even asking the FISA court for warrants, they would have granted them, and you wouldn't have the Telecoms worried about lawsuits. Do it right the first time, with a very compliant court, and you'd have what you ask for.
But that isn't the real reason now, is it. This isn't about preventing terror, it's about covering your tracks.
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