Saturday, October 04, 2008

Own-the-shit society "hedge fund for the people" 

NYT:

It will be one of the world’s largest asset management firms with an impressive $700 billion war chest. Nothing short of the global economy depends on its success. And the Treasury Department has barely a month to get it up and running.


The good news is, they already have a website, and as we all know that's half the battle right there.



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Thx to Singularity

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8 Comments:

And now all the "smart guys" who mismanaged the financial system are government contractors in the business of "fixing" it.

Perfect.

By Blogger jeffrey, at 12:07 PM  

Bill Gross of PIMCO offered to do the job. I'd give it to him. He's good (the Warren Buffett of Bonds).

By Blogger oyster, at 3:13 PM  

What a crap sandwich Congress just swallowed.

We ought to run the whole damned bunch of them off. Then I see that Alexander was re-elected with 90% of the vote. The voters in Central Louisiana are idiots.

I'm going to the range.

By Blogger Pawpaw, at 4:30 AM  

Bill Jefferson voted against the bailout. Then, he ran first in the primary.

Coincidence?

yeah probably.

By Blogger jeffrey, at 1:24 PM  

Democratic social experiment creates bubble.

Market greed and risk aversion exploits the loopholes & spreads the risk throughout our economy.

Democratically controlled socialist experiment to buy them all back.

Thank Nan the Skag and the rest of the Demolibs in Washington for the creation, and the solution to the problem...

We'll now see what happens when the Government becomes the world's biggest realtor, the world's biggest mortgage refinancier, and the world's biggest asset manager...

Government doing such an exceedingly effective job any other time they step into the private sector and provide services heretofore controlled by markets, companies, and entities solidly within the private sector.

Just watch the FAT CHECK Paulson gets when he returns to Goldman Sachs (You do realize there was only one company that was allowed reps to sit in on the infrastructure and bill writing sessions Treasury had, don't you?)...

Just WATCH which companies get made "more whole" than others do...

Welcome to American Socialim. I'm sure you'll embrace it with open arms, oyster...

The only proper, fitting toothpick that could pin the pickle down to the deliciously juicy sh!t sandwich ordinary Americans are about to bite down on will be the Treasury Secretary Hussein appoints to "run" this Titanic...

By Blogger GO, at 1:32 PM  

Umm, compared to recent Republican administrations, I don't think Dems have anything to be embarrassed about when it comes to Treasury Secretary appointments.

I'll gladly take a Robert Rubin (or similar) any day over Bush I or Bush II's appointments.

By Blogger oyster, at 11:06 AM  

Oyster,

Remind me again, what party does Paulson belong to, again?

It starts with a D...

LOL!

By Blogger GO, at 8:32 PM  

Umm, I believe Paulson's a Republican .

Either way, we're talking about appointments in Democratic administrations, not Democrats, per se.

By Blogger oyster, at 9:15 AM