Gee, won't it be a shock when it's Goldman, JPMorgan, Wells and BofA? Any more Friends of Hank that you'd like to bet on?
A few corrupt men got a hold of the treasure of the United States. Some squandered it on a stupid war. Others gave it away to themselves, and their friends.
And nobody went to jail, and not a shot was fired.
America, 2008.
Treasury to Invest in `Healthy' Banks, Kashkari Says
Oct. 13 (Bloomberg) -- Neel Kashkari, the U.S. Treasury official overseeing the $700 billion rescue of the financial system, said government equity injections will be aimed at ``healthy'' firms.
``We are designing a standardized program to purchase equity in a broad array of financial institutions,'' Kashkari, who heads the department's Troubled Asset Relief Program, said in a speech in Washington. ``The equity purchase program will be voluntary and designed with attractive terms to encourage participation from healthy institutions.''
U.S. officials are hurrying to address frozen credit markets that led France, Germany, Spain, the Netherlands and Austria to agree to commit $1.8 trillion to guarantee interbank loans and take equity stakes in banks. Buying shares of financial institutions has become the latest focus of Treasury Secretary Henry Paulson's rescue plan.
``While the U.S. tends to shy away from nationalizing or even partially nationalizing its financial institutions, it would appear that it has no choice but to follow suit,'' Win Thin, a senior currency analyst with Brown Brothers Harriman & Co. in New York, said in a research note today.
53 comments:
Hey - isn't that Jimmy Durante's nephew?
HAAAAA!!!!
YOU TOOLS, THIS IS THE ASIAN VERSION OF NEIL BUSH!!!
REMEMBER S&L?!?!?!
BUY GS, JPM, BAC, ALL THE SHIT!!!!
LEVERAGE FOR ALL!!!
BUY LEAPS FOR NEW GM CHRYSLER MERGER AND FORD, THEY WILL GET A NICE WELFARE CHECK FROM "CASH-N-CARRY"
CITI TO GET THE MOST, I'M GOING LONG!!
SUZANNE, GET ME A HELOC STAT, COMRADE MCCAIN IS GIVING FREE MONEY!!
HELLO HYPERINFLATION!!
I'M GOING TO HOCK GRANNY'S JEWELRY TO BUY GAS FOR THE HUMMER!!
TANGILO AND I ARE LAUGHING OUR WAY TO SOUTH AMERICA!!
DOPES!!!
Of course he is. They worked together at GS. Oh, and amazingly Jim Cramer has been RIGHT about the vast majority of his predictions (former Goldman guy). Yup. In Goldman Sachs We Trust...
Cash&Carry? Sums it up pretty well!
Depression v2.0 is a done deal.
pretty creepy looking dude eh? 35 too. and with a bankroll that no kid should be anywhere near
and to think, no congressional hearings or approval. Here, kid, take the nation's treasure, and go nuts!
amazing.
He's creepier than Paulson himself!
Here is my problem with more artificial stimulation by the government buying preferred shares.
Why should an investor by common stocks when governments are buying preferred shares?
The common shares will tank while the governement gets preferential treatment on dividends and other distributions on preferred shares. Banks need profits to pay off debt and pay dividends. Profits won't come from selling preferred shares to the government.
Look for more pain from common shares as "fear" in the market(not panic) continues to look for solutions to prop up unrealistic debt driven asset values.
It's a nice idea for a 900+ point rally but at the end of the day it won't solve the problem. Asset deflation is necessary in todays market to bring asset prices down to a cash flow model and can't be stopped. Period!
That guy looks crazy as a fox.
Anyway, Denninger isn't buying your sucker's rally, Kweefer.
How can anybody with a functional brain think that all our problems are solved?
Denninger Ain't Buying It
BTW - How many of you dumbo's know that Obama is not even an American born citizen? I'm not pro-McCain either. There is no meaningful difference between Obama and McCain. They're both pro-war. Both pro-Wall Street. Both big government, big spenders.
You people need to understand that both parties are controlled by the same corporate interests, the elite, the New World Order. Get it through your thick skulls.
Just another overpaid schill about to assist in the squandering of US tax-payer money - for friends of course.
Boy, no wonder so many people want to work up on capital hill - there's definitely a free lunch there.
Unfortunately, what they're doing won't resolve the crisis but only worsen it overtime. The crisis is with the US tax-paying citizen; their bank accounts are tapped, and they can't afford to pay off the debt that they already have.
Is the the poster for the remake of Psycho??
That's a lot of coke and hookers...
Looks like a molester
Its mini me.
Nice bug eyed freak.
"You people need to understand that both parties are controlled by the same corporate interests, the elite, the New World Order. Get it through your thick skulls."
Amen brother!
As soon as the financial instituitions that are bought with the $700 billion will turn a profit and the shares are going up, guess what will happen?
I tell you what will happen, a bunch of Wall Street lobbyists will be swarming Captiol Hill and the shares will be sold back to Wall Street for pennies on the dollar before they get ready for their next scam. This will go on until WE THE PEOPLE get up of our lazy collective ass and do something about it.
If you're voting Republican or Democrat you are voting for the people that are fleecing you. It's six or half dozen the other.
The real Barack Obama:
Is Obama Even a Natural Born US Citizen?
Why can't he produce the documents?
Why are people so excited about Barack Obama when his policies are not far removed from McCain's?
Is it simply a cult of personality? Simply a hope that having a president with a higher melanin content in his skin will somehow transform society?
Does it matter that Obama is backed by the same globalists, Brzezinski, the Trilateral Commission, the Council on Foreign Relations and all the Wall Street banks?
Is that change we can believe in?
How many people have anything but a superficial understanding of what these corporate sponsored presidential candidates represent?
God, he even LOOKS like a fucking shyster! The look in his eyes screams, "don't trust me!"
It's hard to imagine how someone like this is (or was) ever trusted with other peoples fate in their hands. Are we that stupid?
Great post on the bald guy! Yes lets give all our money to some 35 year old!! WOW that is off the charts. I guess 35 is the new 50?
be afraid be very afraid.
Did you know that Mccain is not even an American born citizen? So if you have to choose between the lesser of two Evils, Choose Obama.
OH MY GOD he's an ARAB
Oh no sorry, OH MY GOD he's an INDIAN DOT HEAD
Wonder what McCain/Palin's hate-filled, bloodthirsty mobs are whipping themselves up into the ultimate frenzy!!!!!!
Why does anything "healthy" need rescuing? As usual, I smell a rat.
he looks like a teh, teh, tehrist.
What could possibly go wrong?
.
Taliban warrior!
.
He was one of the guys who missed their 9/11 flight!
I've been choking on popcorn all day. Here's another way of thinking about $700 billion:
CURRENCIES BATTLE FOR DIRTBAG SUPREMACY
by The Mogambo Guru
"As a point of reference, I got an email where Oliver Garret of Casey Research by way of The Daily Reckoning which said,
“To put this amount into perspective: if you had spent one million dollars a day, from the birth of Christ until today, you would have only spent about 732 billion dollars.”
http://thedailyreckoning.com/
"And nobody went to jail, and not a shot was fired."
We are 'officially' a kleptocracy.
Organized crime now has the full faith and credit of the United States at its disposal.
He's Iranian - research it - he ain't stupid either
The foxes aren't only guarding the henhouse, they're now remodeling it to allow for more efficient killing rampages.
At least you cannot say that Goldman Sachs discriminates..
jerry said...
The banks have to decide if they want to get in on the hand-outs because if so, the government will be a shareholder, therefore a voice at all board meetings and have influence over management. So, do the banks bite?
Again, if they take the bail-out money and offer lending, who will borrow? Are companies and corporations and small businesses going to risk borrowing over the next few months or longer if the consumer is all dried up. The rich make up 23% of all income in the US, therefore, 77% makes up everyone else. If that 77% just does not feel like taking on anymore debt as home prices go down, as jobs disappear, as retirement portfolios evaporate, then who will borrow? Our business sector cannot support itself on only 23%.
My guess, the only borrowing we will see, for the most part, will be to pay interest payments on existing lines of credit and loans. $700 billion is really not that much to jumpstart a very sick economy.
Stagnation is rounding the Xmas
Jerry is right on.
Has you noticed the striking resemblance or Paulsona nd his new side kick to Lex Luthor!!
Man you attract the moron's, keith...
http://www.factcheck.org/elections-2008/born_in_the_usa.html
Obama was clearly born in Hawaii which unsurprisingly is part of the United States...
But yes there isn't a lot of choice the spend like a drunken sailor party, or the tax and spend like a drunken sailor party.
Quick everyone, get some torches, pitchforks, and most importantly a ROPE....
Uncle Fester, is that you?
HERE IS IS STRAIGHT FROM THE DOPES' MOUTH . . . DOW, BY FRIDAY, BACK TO
.
.
.
.
.
8500!!!!
A WHOLE LOTTA PROFIT TAKING. THANKS WAVE CATCHERS FOR PROPPING UP PRICES!!!
TAKE ANOTHER 1,000 PT GAIN TOMORROW, BUT COME FRIDAY, BE VERY VERY AFRAID!!!
SPEND YOUR GAINS ON A TV SO YOU CAN WATCH CRAMER, YUN, SUZANNE, IDOL, ALL THE SHIT, ET AL.
DOPES!!!!!
The administration will use $250 billion of the bailout program recently passed by Congress to buy into U.S. banks, the officials said. The government initially will purchase stock of nine large banks, but the program is expected to be expanded to many others. Among the initial banks participating will be all of the country's largest institutions, including Citigroup Inc., Wells Fargo & Co., JPMorgan Chase & Co, Bank of America Corp. and Morgan Stanley, said one official, who added that administration briefers did not provide any amounts that would be received by individual banks.
Over the weekend, Paulson had called the heads of the five biggest U.S. banks to come to Washington for face-to-face talks about the rescue plan, according to people briefed on the matter.
Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO John Mack, Citigroup CEO Vikram Pandit, JPMorgan Chase & Co. CEO Jamie Dimon and Bank of America Corp. CEO Kenneth Lewis were all asked to attend.
http://biz.yahoo.com/ap/081013/financial_meltdown.html
hey anon at 11:20
did you know that McCain in not born in the 50 states either.
so your statement about obama is pointless.
He would have gotten the job even if he was twelve. CashCarry! you are hired.
how about a debate with his cousin CNN Ali Velshi.
Dr. Evil et mini moi
OMG he looks like that blue eagle muppet that is a general.
He's Iranian - research it - he ain't stupid either
--------------------------
you mean he might be working for that wacked professor who is the figure head leader of iran?
raw food diva:
"So if you have to choose between the lesser of two Evils, Choose Obama."
That's exactly the attitude that got us where we are today. How about if you pull your head out of a dark place, take a good hard look at what's going on and vote for somebody that is not evil. If you don't know anybody besides McCain and Obama vote for Libetarian, Communists, Mickey Mouse or your very own Pet Rock. At this point it doesn't really matter as long as you vote for a third party. Eventually some viable candite will come along and pick up the torch.
WE THE PEOPLE need to take this country back from the crooks that got us to the point we're currently at. Of course none of that is as important as the Superbowl, NASCAR or the latest reality show. You might find youself starring in a reality show sooner than you think; it's called "Unemployed and nowhere to go".
Wake up America!
Don't look into his eyes!
Forget everything else about that pic - dude's necktie and collar are askew. That's telling.
He looks exactly like the evil Jeanie from Aladdins lamp.
This is not a F-ing XBOX game! Let the grown-ups fix this.
With all due respect to the others here, his age and his looks mean nothing to me as far as his competence is concerned. I've met plenty of 35-year-olds who have learned from history and have more competence than many 60-year-olds.
That being said, this guy looks like the evil dude in "The Mummy".
This is Washington, where a 35 year old special assistant (political appointee) is implementing such policy. Wonder how much he or his parents gave the Bush administration to get him that post?
Neel got his degree in aerospace
from Illinois, then worked at NASA.
Then his MBA at Wharton-UPenn before
going to work for Paulson at Goldman.
Paulson persuaded Neel to join him
(with a huge pay cut) at Treasury.
His father is an electrical engineer
who had immigrated from India.
His mother is a pathologist who
had immigrated from India.
I'd bet on Neel.
suomynona said;
"don't look into his eyes."
you might just see his soul.
"Boy, no wonder so many people want to work up on capital hill - there's definitely a free lunch there."
Nope not the Congressional staffers they don't make shit. Congress Members also aren't paid shit unless you count what they get in perks and under the table. Its K street lobbyists is the that make the money...there's a bank every five feet when you drive down K street here in DC. I'm from the area and have seen it myself.
He's an Iranian Jew. Yes, they do exist.
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