Since neither the construction nor the operation of TARP or its sister programs was constitutional to begin with, it is an absurdity to argue that the addition to this program of a new recompensatory feature violates the constitution. This would be like arguing about what color a unicorn’s tail is supposed to be.
Treasury Department Takes a Victory Lap
I got this little nugget from Big Brother The Office of Public Affairs in my inbox just now… U.S. Treasury Department Office of Public Affairs FOR IMMEDIATE RELEASE: December 23, 2009 CONTACT: Treasury Public Affairs (202) 622-2960 TREASURY RECEIVES $45 BILLION IN REPAYMENTS FROM WELLS FARGO AND CITIGROUP TARP Repayments Now Total $164 Billion WASHINGTON…
The First Bailout…Happy Thanksgiving from TRB
Click Image to Embiggen! Yep, the first Bailout in American history took place in the fall of 1620. Happy Thanksgiving to all my readers – Josh Brown
Cody Drops the "F" Bomb Again…Fascism
[vodpod id=Groupvideo.2751021&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] The above video, from April, is a great example of the ridicule that Democrats are heaping on anyone who disagrees with President Obama’s continuation of the Republican bailout scheme. Both parties are complicit in this unprecedented wealth transfer, but the left only disliked it when it was a Bush/Paulson phenomenon. For the record,…
"Green Shoots" Are For Pandas
Lets put some overused terms out of their misery, a la “Hay is for Horses”: “Green Shoots” are for Panda Bears “Bailouts” are for Leaky Boats “Bonuses” are for Arcade Games “Treasury Departments” are for Countries That Actually Have Money “TARPs” are for Major League Baseball Rain Delays “Deflation” is for Pool Floats “Swaps” are…
German Sex Bailout
German whores need stimulus, too. I know, I know…too provocative an opening sentence. I learned that from Rupert, you’re lucky that wasn’t the title. From Reuters: In Germany…one of the few countries where prostitution is legal, and unusually transparent, the industry has responded with an economic stimulus package of its own: modern marketing tools, rebates…
My Two-Word Response to New York Mag's "The Rage of the Rich"
x My Two-Word Response to New York Magazine’s “The Rage of the Rich“? x x F@ck You. x x Read the full whining, whinging tragedy here: The Rage of the Rich (NYMag) Read Also: “But We Can’t Afford to Lose the Talent” and Other Bullsh*t
Hot Links: CNBC, Positivity, Thomas Weisel & Credit Cards
Hot Links for Weekend Reading Ever wondered what CNBC actually stands for? Its their 20 year anniversary, so check out The Business Insider (the old Clusterstock) for the answer and amaze your friends and co-workers! Also on TBI, James Cramer breaks his silence on his appearance with The Daily Show’s Jon Stewart. Twas an ambush….
The Two Most Important Points From Today's Goldman Call
Goldman Sachs held an earnings conference call early this morning which was live-blogged by the New York Times‘ columnist Floyd Norris. Good, ’cause I had some Cookie Crisp cereal to eat right around that time. Congrat’s on your $5 billion capital raise, but I gots to feed the machine. There were two notable things on…
The Goldman Sachs Backlash is Picking Up Steam
Goldman Sachs (GS) has been able to stay above the fray more than most of its (former) competitors over the last 6 months. Its share price has stayed above single digit-ville and Buffett‘s investment in the company was seen by many as the Omaha Good Housekeeping Seal of Approval. Now that AIG has been incinerated…