Bumped: Stimulus Update: Gang of Old Senators Steal Childrens’ Futures and Charge Them For It…

I am in the unenviable position of agreeing with the Mrs. Rev. Lovejoy…

Remember for a moment if you can, like we at MiM can,  growing up in the 70s: the inflation, the gas lines, the CARTER..now think of that 1 trillion times worse..now there are no jobs because government has crowded out the private sector…that is what our kids may face..can we give them a damn school that has no asbestos to learn in on the off chance they get the opportunities in life we had??

The pathetic excuses for leadership that call themselves Senators and claim to represent the children of Maine, Ohio, Nebraska and Pennsylvania have conspired with Rahm Emanuel ie the White House to cut 65 Billion out of all that money, and chose education to take the hit..

The best is the way Susan Collins R ME is PROUD of herself for cutting most of the money from the children’s only break they get in this porkwrapped tax on they and their progeny..

All to make the porkulus look better, selecting not the Money going to Chicago to build a futuristic green machine, but the money from the children who they plan to stick with the bill for their spending..they gutted the money from School Construction and School Nutrition.

That’s one less salmonella tainted peanut butter sandwich for you Oliver..

Yeah we wouldn’t want to encourage CONSTRUCTION would we? We want jobs. Uhm yeah construction IS jobs, but you know Mayor Daley and Obama want their Chicago Earmark, and we cant have anyone looking there so this is better..

Obama SOLD this as INFRASTRUCTURE with his Tale of Woe for the poor little schoolhouse with no repair since Lincolns Day, everyone remember that? Well, Team Obama wants to forget it. Don’t let them.

(more…)

February 7, 2009. Tags: , , , , , , , , , , , , , , , , , , , , . Department of Education, Economy, Entertainment, Fantasy, Film, Finance, Music, Obama Administration, Politics, Popular Culture, Sci Fi. 2 comments.

High Noon for Financial System….

(Classic Clip Courtesy of TheThinWoman)

Gary Cooper would know just what to do in this crisis….

Turbo Tax Tim to lay out the BOLD! FRESH! NEW! plan to save the financial system at noon EST on Monday:

CNBC: In a noon news conference, Geithner will lay out a “strategy to strengthen our economy by getting credit flowing again to families and businesses,” the Treasury said. The plan will include an aid package for the banking industry, according to a well-informed source.

-snip-

According to the source, the banking component will be “smaller” than originally expected, include some “bad bank” component but be centered around government guarantees and insurance of troubled assets—what’s called a “ring fence” concept.

But what of H-O-U-S-I-N-G? Well like PREGO, they say it’s in there:

The government is also known to be working on a group of measures to aid small business and consumers, including programs to support the housing market—from interest-rate subsidies to home foreclosure relief. Those subjects, as well as new rules on transparency for firms receiving government aid, have been discussed in the last week, according to a source.

CNBC reported Friday that sources say a foreclosure component will be included in Monday’s announcement.

So the good news is they’re making a move, the bad news is IOO (in our opinion) TARP Deux will fail to work as ir is not adequately funded and the PORKBUSTING STIMULUS FROM HELL (Now without education!!) has left ZERO POLITICAL CAPITAL OR WILL to get more funding for TARP two..

MiM predicts, we will be back needing more money in a few months at most…the PLAN 9 FROM OUTER SPACE, oops,  Newly Improved Nifty Plan from ‘Turbo Tax’ Tim and the ‘Abercrombie n Fitch’ Team Obama Crew is to use the FED to fund this recap of the banks and asset transfer to the FEDs balance sheet to avoid going through Congress..

But if the HOLC is not a HOLC, and based on Schumers railing against refis for all at 4% it is not a HOLC, then it will not put a sufficient floor under the housing assets and the values will keep dropping leading to a crisis on the FEDS balance sheet instead of the banks’..is that where we want to go?

The over leveraging of the financial instituttions was an utter disaster so we have decided to overleverage the Federal Reserve? …..Things that make you go, OH NOES!!!

I am going to draw my focus down to my immediate financial situation now cause the government is all ‘gone wild’,  like late night tv commercials during a Star Trek marathon at this point; but to quote my favorite childhood film, ‘I have a baaaad feeling about this’…

February 7, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , . Economy, Entertainment, FDIC, Film, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. 7 comments.

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