2012
Mittster did us one better and gave us Paul Ryan. Who, in CO this week, said he supports STATES RIGHTS TO ALLOW MMJ AND LEGALIZE MJ.
Support RomneyRyan 2012 to save Medical Marijuana AND to save America from the INEVITABLE ECONOMIC COLLAPSE we will face under President Downgrade
The Sword of Damocles Hangs Over Obama’s Head – Support Speaker Boehner’s Debt Ceiling Bill!
Do I like it? No.
Do I want Cut Cap and Balance? Yes.
Will the Democratically Controlled Senate pass CCB? No, already voted it down.
Will Obama cowboy-up and do a deal for the good of the country like Big Dawg did? Uh, No.
Will the GOP be blamed for the fiasco that follows if we do NOT pass the Boehner bill? Why yes, yes it will.
Will the Reid modifications to the Boehner bill cut the cuts and pump the spending? Of course!
Do we get #BBA votes from the Boehner bill? Yes.
Will Senate Democrats PASS a BBA? Probably not.
Will it help DEFEAT said Senate Democrats up for re-elect in ’12 to force them to vote against a BBA? Hell yes. Every commercial should shout that McCaskill etc voted AGAINST a BALANCED BUDGET.
Are we in a position to make SERIOUS CUTS and/or SERIOUS REFORMS while Obama is POTUS? NO. We saw that in his pathetic response to the Ryan Plan.
Did Speaker Boehner try to do a ‘Grand Bargain’ with Obama? Unfortunately, yes he did. And hopefully he has now LEARNED HIS LESSON. You cannot ‘negotiate’ with the Tabula Rasa.
Does Speaker Boehner’s Plan leave room for another ‘Grand Bargain’ attempt? Yes it does. This is the only way to stave off the S&P, Moody’s downgrade.
(Yeah I know the ratings agencies are a joke, their idiotic Prime ratings on MBS junk loans got us into this mess but that is beside the point. They made it clear if there is a ‘commission’ meeting someplace they won’t downgrade the debt, even if said commission is just another exercise in futility.)
Was Obama ‘selected’ by TPTB TBTF to be the ‘Democratic’ POTUS to gut SS and Medicare? Why yes, that has always been my theory.
So why didn’t he do the ‘Grand Bargain’? Because he is an inexperienced naif who cannot even carry out a ‘signed, sealed, delivered’ bargain when he has the script.
He is Zelig- the chameleon man. He changes to reflect whomever he is with. One meeting with Pelosi and he rolled over on Entitlements without Tax Hikes despite having Geithner there to ‘handle’ him.
Will there be a Grand Bargain while Obama is POTUS? I hope to hell not. If the GOP gives it to him, he will run on it. He wants to be Reagan.
The guy is just what he appears to be: a narcisstic empty suit devoid of any principles. (Webster’s lends a hand- A principle is a general and fundamental truth that may be used in deciding conduct or choice)
With hard work and a little luck he will be the One-Termer the TBTF bought and nothing more.
So how ’bout we push past this latest Obama Leadership Failure, pass the Boehner bill and then work HARD to make SURE the GOP does NOT give Obama any ‘Grand Bargain’ to run on.
Anyone who thinks we are not gonna cut SS, Medicare is really self-deluded or naive at this point. I suggest liberals spend their time working on the House cuz we WILL be doing MAJOR ENTITLEMENT REFORM with the new GOP POTUS in ’13.
I am for the Ryan Plan. Gen X knew we were getting fragged, let’s just go into it eyes open and try to protect our parents and kids from the worst cuts and tax hikes.
Jamie’s Cryin – Episode 3: Wherein Jamie Loses the Debit Swipe Battle & is Forced to Take Bernanke to Task for Raising Capital Requirements from the Floor of a Finance Summit
Update: I want to add that IMO Jamie is the best Bank CEO out there. He is brilliant. He is savvy, he is kewt, he is a capitalist, I dig it. I wanted him for Treasury Secretary and wrote about it in March of ’09. But the TBTF have refused to allow the consumer to deleverage from the crushing weight of their housing debt, and the TBTF helped create this problem.
They are the whiz kids in the room, Mom and Pop Homeowner need a HOLC, and the TBTF blocked it and continue to block it, assuring us a long, slow, slog through a Depression like forced deleveraging as the Fed continues to try to inflate its way out of this massive debt it used to prop the very same TBTF.
All unnecessary pain, if only the TBTF would take some of the responsibility they like to lecture about when they laughingly call principal writedowns moral harazrd after they made the Goddamned loans. (see Meredith Whitney ask Jamie about this on an earnings call in January 2010)
Lost juice Jamie? Have you Lost Hand? Did you think buying the POTUSship for Obama meant a free reign?
Did you think basing all our policies on what is best for a handful of TBTF bankstas was really a good way to GROW the American economy?
Oh woe is me. Cry me a river.
PragmaticCapitalism has it:
(…) his bank was saved from the brink of disaster in 2008. The US government took extraordinary measures to ensure that he did not go down as one of the greatest bank failures of all-time. In fact, the US government did him a huge favor by making his bank the linchpin in the US economy.
Of course, this was done by making Mr. Dimon’s already too big to fail bank too bigger to fail. But none of this is enough. Saving someone’s career and ensuring that their bank is now an instrumental portion of the US economy is not enough. And in a fit of rage Mr. Dimon went and rewarded himself with a monstrous $16MM pay package last year. After all, he deserved it. But this is not enough.
It’s not enough to pay yourself outrageous sums of money when your company should be in a hole in the ground. It’s not enough to have the government by the throat and know that the taxpayers can never let your company fail. It’s not enough to have been a key player in helping the US banking system become the gigantic leach on the world’s largest economy. It’s not enough that you help pull our best and brightest minds out of productive fields and into finance where they will do nothing but think of new ways to help separate the middle class from their savings. It’s not enough that you helped build a banking system that nearly crashed a $15 trillion economy.
No none of this is enough. And when we pass an incredibly weak regulatory bill that does nothing to actually fix what caused the crisis you go and complain that the government is doing too much….
Then today REALLY SUCKED for Jamie when he lost the Debit Card Swipe Fee battle to the retailers despite INSANE LOBBYING and Jon Tester- D-MT, Bob Corker R-TN last minute attempt to stave off the changes for a year.
This is a Fed set cap on swipe fees. Lowering avg fee charged to RETAILERS from .44 a swipe to .12 a swipe. TBTF are babied left and right, the retailers are going out of business left and right let the Fed baby someone else for a change Jamie. I’m sure Obama will give you another bailout any second now anyway.
…The fee cut could cost the card industry and banks billions of dollars, but nobody in the retail business is shedding any tears — it will save them money.
Bank stocks, up earlier in the day, flipped into the red on the news and ended down nearly 1%, making them among the worst performers in the market today….
Video ~ Meredith Whitney talks Banks, States, Munis & Stocks
ginaswo
