published Sunday, May 1st, 2011

Recovery

about Clay Bennett...

The son of a career army officer, Bennett led a nomadic life, attending ten different schools before graduating in 1980 from the University of North Alabama with degrees in Art and History. After brief stints as a staff artist at the Pittsburgh Post-Gazette and the Fayetteville (NC) Times, he went on to serve as the editorial cartoonist for the St. Petersburg Times (1981-1994) and The Christian Science Monitor (1997-2007), before joining the staff of the ...

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SeaSmokie59er said...

Nailed it!

May 1, 2011 at 12:54 a.m.
raysun said...

This is typical of Bennett's liberal philosophy and partisan political leanings. He conveniently forgets to mention that Wall Street paid back its loans with interest. The government actually made money on Wall Street's bailout..except of course for bailing out General Motors and its union. Hey Bennett..with your history of wanderings, why don't you just mosey off into the sunset yourself.

May 1, 2011 at 1:33 a.m.
AndrewLohr said...

A black man I work with said, Bush's stimulus plan put a few hundred dollars in MY pocket. Obama just paid off big business.

(I add: of course neither worked, because each stimulus dollar was taxed, or borrowed, or inflated, so each positive stimulus, whether in our pockets or on Wall Street, was balanced by a negative stimulus. Net effect: no gain; probably a net loss, because moving money costs money--gotta pay the IRS and Ben Bernanke--and because moving money is not all that productive. When I buy groceries, I pay for something to be produced. Taxing money from producers, channeling it through bureaucrats, and sending it out to 'stimulate' isn't getting anything done. Sorry if that last is not clear.)

May 1, 2011 at 2:36 a.m.
fairmon said...

Chris Dodd and Barney Franks assured us they had corrected the Wall St. problem with new and improved regulations. Congress with their new regs is like a detergent commercial claiming it is new and improved but uses the same formula plus a new inert ingredient that does nothing.

May 1, 2011 at 5:57 a.m.
woody said...

It's as simple as, "..."throwing good money after bad...." And, if it were the first time, I would be appalled. What I am, however, is sick to my stomach.

I am also tired of beating my head against the wall..of indifference and apathy. And I keep trying to remember who it was that prophesied that America would never be undone by any enemy from outside our borders..no..he or she was certain we would be taken down from within.

Will it be Wall Street?? I don't know. Maybe it will be one of our political factions..you know, the one who keeps telling us THEY are the only ones who can save us from our own stupidity and, of course, that other party some of us keep voting for.

Well, the rest of you can believe, or continue arguing with, them if you choose. That is your right. As for me, I think I am going to take one giant step backwards so as to get out of the way of all the 'flying rhetoric' and the damage which invariably always follows.

And, as soon as some of the rest of you also get tired of beating your heads against 'the wall', you too will discover how much better you will feel..plus I'll be waiting with a fresh hot cup of coffee and a little reasonable conversation. TTFN..Woody

May 1, 2011 at 6:10 a.m.
fairmon said...

Government Motors (GM) is still a poorly managed lack of vision dinosaur with a tremendous multi year tax break that has not been publicized.

Business as usual is more applicable to congress than Wall St. Why do both parties keep adding to the 4ft high thousands of pages of IRS regulations? Why do both parties fail to address the cost of subsidies, incentives, reductions and a myriad of other manipulations?

It is business as usual when the administration ignores the rapidly decreasing value of the currency? Why do they avoid alerting the public to the hazards of the shrinking dollar value?

May 1, 2011 at 6:16 a.m.
fairmon said...

Business as usual will continue and nothing will change until everyone has to come up with enough to cover expenditures with zero borrowing or printing of money. When we have to pay and can't borrow, beg or steal a dollar then setting priorities becomes necessary not just a political get re-elected strategy. No one is willing to admit we are broke and getting broker. Magicians use illusion to convince people of their ability to make the impossible happen. The image of the U.S. as a world power able to do all things for all people is an illusion created by both parties.

May 1, 2011 at 6:37 a.m.
limric said...

A good cartoon Clay, except that Wall Street is not sick (physically)- but are terrified that the middle class are beginning to challenge the double standard that allows one set of rules for them and another for us. They are becoming frightened of the growing understanding, that we know our country isn’t broke; that the elite at the top has manipulated the economic crisis it created to grow even richer and more powerful while the rest of us suffer the consequences; and that Wall Street and corporations, sitting on record profits, are holding us hostage, essentially threatening a capital strike if they don’t get further tax breaks and toothless regulations. As long as Wall Street and the superrich feel secure and confident, they have no reason to negotiate a fair deal with the rest of us. Only by creating uncertainty and instability for them—by disrupting unfair business as usual—can we challenge their stranglehold on our economy and our way of life

We need to take a series of actions, including direct action and civil disobedience, to make Wall Street pay for the trillions it stole from us. We have the power to go on offense right now—with the goal of keeping millions of people in their homes and raising revenue for cities and states to save jobs and critical services.

Homeowners and students can stop paying unfair debt. A loan strike? This could force banks to modify loans and provide relief to our families.

Demand that our governments stop doing business with bandit banks. Local governments conduct trillions in business with Wall Street banks. That leverage can be used to force the banks to pay their fair share in taxes, renegotiate high-cost deals that are bankrupting taxpayers with astronomical interest rates, and stop foreclosures by reducing mortgage principals. The above steps provided by Stephen Lerner

It’s time to give Wall Street and the right something to be scared about. It’s time to use the power of the middle class to challenge the economic and political stranglehold they have on our country

May 1, 2011 at 7:56 a.m.
rick1 said...

Harp, good points on GM. Remember when Obama said this about GM in November 2010: “Today, one of the toughest tales of the recession took another big step toward becoming a success story,” he said last November, on the occasion of GM’s initial public offering. “We are finally being able to see some of these tough decisions that we made, in the midst of crisis, pay off… American taxpayers are now positioned to recover more than my administration invested in GM.”

Fast foward tp April 19, 2011, the Wall Street Journal reported, “The U.S. government plans to sell a significant share of its remaining stake in General Motors Co. this summer despite the disappointing performance of the auto maker's stock,” adding that “a sale within the next several months would almost certainly mean U.S. taxpayers will take a loss on their $50 billion rescue of the Detroit auto maker in 2009.”

Also according to the WSJ, on April 18 2011,GM stock closed at $29.97 a share “hitting a new low since its $33-a-share November initial public offering.” That means “taxpayers would lose more than $11 billion on the rescue if the government dumped the rest of its stake now.”

It was reported “the Obama administration would like to sever its last ties to the auto maker,” avoiding “a potentially controversial sale in the 2012 presidential election year.”

So Obama throws away $11 billion of our money, after touting General Motors as such a fantastic investment only 6 months ago.

Here is an excellent cartoon on GM

http://www.americanthinker.com/cartoons/?id=1302

May 1, 2011 at 7:57 a.m.
SeaMonkey said...

lefty misses the mark again.

congress is the problem.

congress, with people like barney frank and christopher dodd leading the way over the years, have created this mess..not wall street. what good are a zillion irs regulations and laws when the people in charge of the money, congress, are corrupt and are atrocious money managers.

to always blame the private sector is bull****....especially in light of the last two years and with irreponsible jackasses like dodd, frank, pelosi and obama in charge, who aren't even qualified enough to work in the mailroom of a comany, let alone handle big money.

congress has been far more irresponsible than the most poorly managed company in the private sector.

business as usual refers to congress, composed of both democrats and republicans.

george w bush spent irresponsibly with the congress he worked with, obama with his liberal congress has been a wrecking ball.

obama instead of hope and change has been just hopelessness and business as usual...taken to a new level....

May 1, 2011 at 8:01 a.m.
rick1 said...

SeaMonkey, good points.

May 1, 2011 at 8:12 a.m.
rick1 said...

As SeaMonkery said the private sector including Wall St is to blame and never Congress. Why doesn't Clay do a cartoon about the stimulis? Here is a classic example of fraud and abuse when the government is involved. The Chicago Tribune reported the following:

As CEDA's part in the federal stimulus program heads into its final months, contractors continue to fail 1 in 7 inspections, and a federal plan to fix mistakes revealed in a blistering audit last year still hasn't been completed, federal officials said.

Even with limited oversight of the work, government inspectors have found gas leaks, poorly insulated walls, missing shut-off valves and other shoddy and sometimes dangerous work, records show. Several contractors installed the wrong equipment or billed for materials that were never used, inspectors found.

And by the state doling out money to a nonprofit, which is not subject to open-records laws, officials have kept from the public how millions of taxpayer dollars are spent. CEDA refused to provide information about its contractors, some of which have lengthy records of complaints, the Tribune found.

In early 2009, President Barack Obama called for infusing $5 billion into the federal government's decades-old weatherization program to put people to work and lower energy costs. Illinois split a three-year, $242 million grant among 35 agencies, CEDA being the largest.

The stimulus program pumped so much money into weatherization so quickly that CEDA wasn't equipped to handle the explosive workload, officials told the Tribune. And the pressure was on for the program to succeed.

http://www.chicagotribune.com/news/ct-met-stimulus-contractors-20110430,0,5859319.story

May 1, 2011 at 8:21 a.m.
fairmon said...

Limric,

Do you include Fannie Mae and Freddie Mac in those that have duped the public? Do you include AGI? Both of these are major contributors to several members of congress. They are among the few financial firms that have not paid back their TARP loans. GM has not and will not likely ever completely pay their loan back.

Banks have been making loans at under 5% interest. Several responsible businesses have recommended to the administration and congress that all tax manipulation options be abolished and a world competitive 20% flat tax for businesses be established. Congress and the administration appear deaf to this and prefer retaining their ability to manipulate and show favor.

14 trillion in debt and growing owed primarily to other countries sounds like we are broke. Paying out 2.3 trillion in welfare and entitlements plus three wars and other cost with revenue of 2.2 trillion sounds like a road map to bankruptcy.

Congress is at fault not those big bad corporations since only congress can show favor and enable anyone to realize gains they are not entitled to. Only congress can cause corporations to move their headquarters to countries where wages are comparable to the U.S. for reasons other than wages.

It is business as usual and there is no recovery happening now. Politicians feed the media and the media feeds the gullible public.

May 1, 2011 at 9:26 a.m.
OllieH said...

I don't believe Clay is asserting that Wall Street has not paid back its bailouts. raysun. Although the assertion that all of the TARP funds have been paid back is false, most of it has, and I'm sure that the remaining balance will be paid off soon enough. The way I read this cartoon, however, that's not its point. I see this cartoons as a depiction of a patient (who is obviously recovering from the treatment of an illness) returning to the very practices that caused the illness in the first place.

To save Wall Street, we had to perform emergency treatment- the bailouts. But to insure that we don't repeat the calamity of 2008 (a fiasco that ails our broader economy still) we have to reform the way Wall Street does business. Until we can accomplish that, our financial markets are just as vulnerable as they were before this Great Recession.

Raysun is right about one thing- the bailouts of Wall Street are dramatically different than the bailout of General Motors and Chrysler. Like Wall Street, the automakers bailouts are being paid off. They aren't repaid in full yet, and probably won't be until the government can sell off its stock holdings in the companies. But that day will come, and like the bailout of Wall Street, it will come with a return on the investment for the government.

The difference between the bailouts, is that Detroit (unlike Wall Street) changed the business practices that put them in this position to need the assistance in the first place. If the automakers (after receiving billions in rescue funding) just went back to business as usual- producing the same unpopular cars, in the same inefficient way, they would be just as vulnerable to repeat past failures as Wall Street currently is.

May 1, 2011 at 9:37 a.m.
nucanuck said...

Ollie gets the blue ribbon for his interpretation of the cartoon.

As to whether the bailouts are ever paid back, we will never have clarity. The banks were enabled in so many ways that a technical payback was more likely accounting obfuscation. We know that the banks still do not mark their loans to market and that if they did, they would be insolvent. We should just forget the repayment debate.

The bigger issue, maybe the biggest issue, is that we have reached the end of a debt/leverage cycle largely promulgated by former Fed Chairman Greenspan, pushed by bankers, and embraced by politicians of all stripes. In a sense, we all did it together,and we are all going to endure the unwinding of what we have created. Casting blame will not make our journey easier, but we must begin by acknowledging the road ahead.

Do we revamp all social programs? Do we increase taxes? Do we slash military spending? Are we going to default on our debt? The answer to all of the above is probably yes, to one degree or another, but finding agreement to that degree may prove so difficult that we fall even farther with only angry debate to show for our efforts.

I hope not.

May 1, 2011 at 10:58 a.m.
fairmon said...

OllieH,

Good interpretation, I agree it is an addiction, a habit that is difficult to break. I think the fact many banks are not making the loans advocated by congress is proof they are not indulging in the habit as they were. They are borrowing zero interest from the fed which enables them to meet reserve requirements and pay back their TARP loans early. Chris Dodd's reaction to a proposal that regulations include requiring anyone purchasing a house be required to pay no less than 5% down was a classic. Dodd objected and said something like "We can't do that, only those that can afford a house will ever buy one". That is almost as good as Pelosi's declaring that unemployment payments were the best economic stimulus we could have or her "we will just have to pass it to find out what is in the bill". Now we have Baehner and others declaring we are doing what the people said. They are obviously hard of hearing or have what is called selective hearing.

People can play the blame game. Blame Wall St. blame businesses, Blame Bush or Obama and their predecessors but the blame falls to both parties in congress. Any left over blame should probably go to the judicial branch.

May 1, 2011 at 12:06 p.m.
fairmon said...

nucanuck,

You are right on with the key questions of what is required and the conclusion we will likely only see debate until we hit the wall is also probably correct. I also hope our doubts prove to be wrong. It is disturbing to see both parties jockeying more for the 2012 elections than working on the critical issues. Both parties talk about the need for higher employment with decent paying jobs but neither willing to do what is necessary but politically unpopular to achieve that.

May 1, 2011 at 12:23 p.m.
nucanuck said...

harp,

My fear is that higher emploment is incompatable with the necessary debt destruction that has to take place. Debt destruction will be contractionary and has to happen before any new order can be implemented.

If so, even higher unemployment/job destruction and lower consumption are part of any real solution. I hope I'm wrong.

May 1, 2011 at 1:05 p.m.
mymy said...

http://www.thetandd.com/lifestyles/magazine/article_269ebf1e-72bd-11e0-9a07-001cc4c03286.html

This country needs to go back to what it used to be and what made it great. We have been headed in the wrong direction for a long time. All one has to do is listen to looney left speak.

May 1, 2011 at 2:05 p.m.
fairmon said...

nucanuck,

Correct and the reason neither party is willing to take that bold step. Done aggressively and properly the reduction could be short lived. I don't see how major inflation can be avoided.

May 1, 2011 at 2:37 p.m.
BigRidgePatriot said...

Typical bennett, the democrats are demonizing Wall Street in order to give the population something for the democrats to "save" them from. As if he takes his orders from the B.O., he intentionally dominates the cartoon with Wall Street and misses the rest, more important parts of the story.

The Oxygen tank is the US Taxpayer, being robbed at an incredible pace by the current administration.

The hose is the government, who should be regulating rather than bailing out Wall Street. The government abandoned its responsibility to regulate the banks and instead started trying to play banker and virtually forced the financial collapse to occur. Banks need a responsible set of boundaries and the government should enforce those boundaries. Instead of enforcing common sense financial rules the government encouraged suicidal lending practices and destabilized the entire financial infrastructure of our country. Not to say that Wall Street is without blame, but “when the cat is away”…

At least bennett is addressing a worthwhile topic today, even if his outlook is simplistic.

May 1, 2011 at 3:54 p.m.
JeffersonLives said...

Such clueless howling from bloviating Archie Bunker Fox sycophants, whose grandparents were likely saved from starvation, hookworms and/or pellagra by FDR's New Deal. Wall Street fascists desperately tried to hire Major General Smedley Butler to overthrow FDR and destroy The New Deal, but the General made the plutocratic coup public, though no one was ever even named in the plot, much less imprisoned. Expensive white collars have always contained Teflon, even for treason and/or sedition. Fascism never goes away, or changes it's stripes. The only difference between today and that of FDR's is that we have no leadership with the balls and wisdom to call them fascists and fight them as you would any demons from the jaws of hell that is attempting to destroy our Democracy for their own profit. FDR's VP Henry Wallace knew these infinitely greedy demons well..."The really dangerous American fascist... is the man who wants to do in the United States in an American way what Hitler did in Germany in a Prussian way. The American fascist would prefer not to use violence. His method is to poison the channels of public information. With a fascist the problem is never how best to present the truth to the public but how best to use the news to deceive the public into giving the fascist and his group more money or more power... They claim to be super-patriots, but they would destroy every liberty guaranteed by the Constitution. They demand free enterprise, but are the spokesmen for monopoly and vested interest. Their final objective, toward which all their deceit is directed, is to capture political power so that, using the power of the state and the power of the market simultaneously, they may keep the common man in eternal subjection." -quoted in the New York Times, April 9, 1944". Here's a plain-spoken fascist: "Capital must protect itself in every way... Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd." – J.P. Morgan... Folks need to remove their craniums from those dark and ignorant orifices they have been willingly deluded into, baited by perception manipulation engineering paid for by these same gilded gunrunner fascists that are making our middle class illegal aliens in their own country. The richest 10% are creating the United Banana Republic as you read this. What are you going to do about it? Be a delusional and clownish apologist for them or fight for your country, John Wayne wannabee?

May 1, 2011 at 10:27 p.m.
tderng said...

BIN LADEN IS DEAD!!! YAHOO!!!!

May 1, 2011 at 10:50 p.m.
chet123 said...

MYMY...put away the picture of the actor....its sad if that all the republican party have to hold on to...LOL LOL..an old man in a cowboy costume

May 2, 2011 at 1:06 a.m.
mymy said...

Listen to the words you fools.

May 2, 2011 at 5:32 a.m.
BigRidgePatriot said...

JeffersonLives said... "Such clueless Archie Bunker sycophants, whose grandparents were likely saved by FDR's New Deal"

It is funny how people can still believe this. Calvin Coolidge quickly brought the country out of a deep recession just 10 years earlier by drastically cutting the federal goverment. FDR, on the other hand, managed to drag the great depression out for a decade with his tax and spend approach to prosperity. Let me see, what worked better, the roaring 20's or the years lost to the great depression. Seems pretty clear to me!

Borrow yourself into prosperity! What a joke!

May 2, 2011 at 8:09 a.m.
fairmon said...

BRP

It is amazing how many people think they can borrow themselves out of debt and prosper by doing so. It is amazing how many call the successful greedy while demanding the successful share their wealth with them. Makes one wonder who the truly greedy might be.

May 2, 2011 at 9:31 a.m.
SeaMonkey said...

brp and harp, exactly.

"it is amazing how many call the successfull greedy while demanding the successful share their wealth with them." you hit it right on the head.

the greediest entity around is the federal government.

everything pales in comparison.

unlike in the real world, a.k.a. the private sector... where everyone has to earn what they make and there are no guarantees, the government, which is packed with greedy entitlement minded zombies, burocrats and corrupt politicians, can simply take, confiscate or sieze what they want without producing a damn thing.

May 2, 2011 at 10:27 a.m.
potcat said...

~~`Congratulations Clay... for winning the Editorial Cartoon 2010 "Award of Merit", at the at the Golden Press Card banquet Friday night.

~~ Congratulations Harry Austin... "Award Of Excellence" for Editorial Writing. Well Deserved!

~`Congratulations Times free Press... for winning the "award Of Excellence" for Overall Internet Site.

May 2, 2011 at 10:27 a.m.
nucanuck said...

Since 2005 I have said and written over and over, that until real financial regulation is imposed, the leverage toys removed, and the "too big to fail" banks, aren't, we will not...we can not...right the ship and set a proper course.

Sure there are other problems. We discuss them every day. But nothing comes close to the magnitude of the systemic disfunction infecting the developed world that spun out of control from Wall Street, post financial de-regulation in 1998.

Re-regulation is JOB ONE, and so far ,it isn't even on the table.

May 2, 2011 at 10:35 a.m.
SeaMonkey said...

"award if merit"......? that should be.. master of leftist propaganda 2010/cheerleader of the year award.

or the ..kiss up of the year award 2010...the trophy could be a donkey's ass with a lipstick mark on it.

May 2, 2011 at 10:38 a.m.
SeaMonkey said...

bull*, nucanuck.....nothing compares to the government pressure, starting with jimmy carter, put on banks to give out loans to people who have no chance to pay them back..nothing...that started this whole damn thing...thanks to holes like dodd and frank.....the government is what's out of control..whether it's fm&fm, giving subsidies to companies that don't need it, piling on debt on more debt..as obama has...massive entitlements.

you libs love tax revenue..but you hate and resent the people and entities you collect it from.

May 2, 2011 at 10:46 a.m.
nucanuck said...

SM,

Your historical uptake and interpretation never fail to amaze. Selective cognition is not unique to you, but you are a fine example of the disorder.

May 2, 2011 at noon
potcat said...

The award goes to, Monkey..Harp..bigridge The 3 LOONIES, Hate the Cartoonie, A Dial To Tune, To lose the LooNs, Running on Fumes, The 3 GOONS, Do loom,
High Noon, All Hat No Cowboy

  I'm no poet and i know it, but you three are CRAZY!
May 2, 2011 at 12:38 p.m.
Leaf said...

Hey, what about Libertarians4Freedom? He's the nuttiest of the bunch.

May 2, 2011 at 1:34 p.m.
SeaMonkey said...

nope, nope, nucanuck...not at all....i'll repeat it...the greediest entity around is the federal government..bar none. nothing can compare to the waste, incompetence, corruption and pure greed. they take and take and produce nothing.....no company in the private sector would pile on debt upon debt like the federal government does....why? because they would be gone. and i'm spot on about the lending institutions being pressured to give loans to risky people.....that policy hightlights the insanity that is liberal policy....to hell with the consquences as long as you get the votes..

and congratulations to our military for putting a bullet in bin laden's head.

obama, of course, peppered his news conference with lots of i, me and my..as if he's responsible for military success.

obama didn't assemble anything, has he claims, it was all set in place from the bush/c heney years...... i thought he didn't want to make "obama a martyr"..as he said during the campaign.. i thought he wanted to capture him and put him on trial? i thought he wanted to close guantanamo? i bet eric holder's mad now, huh? mr. civilian-trials- for -terrorist- guy. aparrently obama knew about bin laden's whereabouts in september.....guess he was saving this for when he thinks his poll numbers need to go up....like right now.

oh, brave barack...what would do without you....i got knews for him...islamic fundamentalist terrorism is old...goes back about to about, what, 600 a.d.....bin laden or not...it's not going away.......

May 2, 2011 at 2:37 p.m.

If it was all "set in place" during the Bush administration, why wasn't he captured/killed a long time ago?

Also, why is it that during the Bush years they regurgitated the same spiel over and over? "Osama's hiding in a cave somewhere. The area is dangerous. Can't hike it. Too rough..." blah blah blah. There given intel long ago that he was not hiding on the border, so basically we were not only lied to about WMDs but Osama's whereabouts also. They jus spewed that garbage to us so they wouldn't look like idiots because they could not catch him.

In a nutshell, the word of the Bush administration means very little.

May 2, 2011 at 2:46 p.m.

If it was all "set in place" during the Bush administration, why wasn't he captured/killed a long time ago?

Also, why is it that during the Bush years they regurgitated the same spiel over and over? "Osama's hiding in a cave somewhere. The area is dangerous. Can't hike it. Too rough..." blah blah blah. There given intel long ago that he was not hiding on the border, so basically we were not only lied to about WMDs but Osama's whereabouts also. They just spewed that garbage to us so they wouldn't look like idiots because they could not catch him.

In a nutshell, the word of the Bush administration means very little.

May 2, 2011 at 2:46 p.m.
tderng said...

crc, me thinks you need to cash one of those checks!!!

May 2, 2011 at 4:11 p.m.

Barry Obama is a killing machine. He was cooly killing a few golf balls while NAVY Seals were preparing to kill Bin Laden. His 66th round of golf since signing the $800 billion Recovery Act and promising it would hold unemployment under 8%.

Wah, wah, wah, wah....

May 2, 2011 at 4:24 p.m.
potcat said...

Leaf, it goes without saying that Liber is a nut. Above post says it all.

May 2, 2011 at 5:57 p.m.
fairmon said...

NUCANUCK, What do you think makes an entity too big to fail? I agree there needs to be regulations that prohibit that status but Barney and Chris weren't willing to include such in the regulations they proposed. It would seem leveraging has to be limited. It appears CDS's are not in the current bank business mix but the Fed's providing zero interest money is very accommodating to the larger banks enabling them to profit at a potential cost to tax payers.

color potcat green, the envy is evident, the poetic ability isn't adequate to disguise it. Good luck in borrowing yourself into prosperity, remember the bankruptcy laws aren't as accommodating as they once were. Would you prefer the government require a few successful folks give directly to those not as successful?

May 2, 2011 at 5:59 p.m.
Humphrey said...

"raysun said... This is typical of Bennett's liberal philosophy and partisan political leanings. He conveniently forgets to mention that Wall Street paid back its loans with interest. The government actually made money on Wall Street's bailout..except of course for bailing out General Motors and its union. Hey Bennett..with your history of wanderings, why don't you just mosey off into the sunset yourself."

This is not correct. GM paid back the LOANS that the government made them, which kept 100k's of American jobs (look at the money TN. has GIVEN to VW, nissan etc. to buy American jobs). Tarp money not all repaid. Quote is opposite of reality.

"bookieturnersghost said... Barry Obama is a killing machine. He was cooly killing a few golf balls while NAVY Seals were preparing to kill Bin Laden. His 66th round of golf since signing the $800 billion Recovery Act and promising it would hold unemployment under 8%."

Also not correct. Obama was not playing golf, was clearly in the command center.

People really ought to stop making crap up and writing it as if it is true.

SeaMonkey- "obama didn't assemble anything, has he claims, it was all set in place from the bush/c heney years...... i thought he didn't want to make "obama a martyr"..as he said during the campaign."

This is completely untrue. Rumsfeld and Bush let OSAMA go at Tora Bora because they were afraid there would be terrorist attacks in reprisal if they killed OBL. They wanted to be able to say "No terror attacks on our watch (well, except that whole 9/11 thing we were warned about but ignored) - see, Republicans can keep you safe." They are the ones who let him go. Obama never said that during the campaign, in fact he said he'd go in to Pakistan to get him during the campaign - unlike McCain who said he would be afraid of hurting Pakistan's feelings. Quit making stuff up. So called "Conservatives" are chickens right now today afraid of terrorist attacks in reprisal. Brock, brock, brock.

The reality is of course that the seals did the work and did their duty and took the risk and did what needed to be done. But leaders lead. They set directions and make approve plans. Bush let OBL go and said that "he wasn't really concerned about OBL." That sets a direction. Obama gave the approval necessary to carry out a plan in Pakistan that the "conservatives" were chicken to do. And if that plan had been botched and didn't work and Americans had died y'all would damn sure blame him for it. Suck it up and root for America. Be proud and quit letting your dislike of the man who is president keep you rooting for America to fail to make him look bad. Some people want the country to fail just so the president will look bad and that is stupid.

May 2, 2011 at 6 p.m.
rick1 said...

Humphrey: You forgot to mention that Clinton let Bin Laden go, and also about the documents Sandy Burger destroyed.

New York Times reported: Aug. 16 - State Department analysts warned the Clinton administration in July 1996 that Osama bin Laden's move to Afghanistan would give him an even more dangerous haven as he sought to expand radical Islam "well beyond the Middle East," but the government chose not to deter the move, newly declassified documents show. http://www.nytimes.com/2005/08/17/international/asia/17osama.html

It would also be interesting to know what Sandy Burger destroyed before going in front of the 9/11 Commission.

http://www.realclearpolitics.com/articles/2007/01/sandy_berger_what_did_he_take.html

May 2, 2011 at 6:23 p.m.
fairmon said...

The government was issued stock by GM which is worth less than the issue value with a good possibility and likelihood of a large loss.

Also, GM is credited with millions in tax losses which means it will be years before they pay any taxes.

GM, Ford and Chrysler U.S. plants are not liekly to ever be competive.

May 2, 2011 at 11:17 p.m.
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