Comments on Back to the Bailout

DRUDGE VP POLL:

BIDEN
28% 126,908
PALIN
70% 312,685
NEITHER
2% 8,112

Total Votes: 447,705

AOL VP Poll

Palin: 47%

Biden: 45%

Draw: 8%

Total Votes: 499,258

I'm growing my own teeth!

Most of the $700 billion we get back. Even toxic loans have some value. Devalued properties are not worthless properties.

Thanks for those non-scientific multiple vote polls, @1. It just shows that the kind of people who believe that Palin is at all credible are ignorant in other matters, too.

Listen to Fnarf dudes.

This is the big chance for the govt to take over part of a failed market sector:

finance.

Using public money we get assets (bad lonas) for cheap (they're quite distressed right now) and then later resell rerent remortgage or just wait till the panic is over and sell them in orderly fashion and make money in the process or at least prove that govt. intervention has such great secondary effects (calming panic, then values of these bad loans rise) that it's a good move.

This can give our new President Obama -- he's for the bailout, remember? Andhe'll be adminsitering all this buying of bad loans, remember? -- new moral capital plus an opportunity to totally REFRAME the total right wing frame that's dominated our policits which is a false frame and which goes as follows:

govt. bad. govt worth is zero. govt can only mess up. govt. just takes $$ govt does not make anything of value.

When you guys and other ultrraleftists call it a bailout as if it's just writing a check to rich guys you are FALLING INTO THE RIGHT WING FRAME becuz you're ignoring the facts that

(a) we get the freaking assets, folks

and
(b) when govt. intervenes in the market it can be a game changer.

So using this new found moral credit and new frame if not actual profits, our new PResident Obama will say

--we saved the finance sector now let's save the underlying economy. My plan for green investements means the govt. will guide the car companies and blah blah blah

--we saved the finance sector now let's save the health care sector. My plan for universal coverage is just like how we bought the bad paper, we're going to pool all the sick people together and force the "private" insurers to play and get everyone covered blah blah blah.

The fact that in response to this confusing post there are only a few replies and only one of substance (Fnarf's) shows Slog readers have no idea what to think of this so called bailout. This suggests STranger should spend a lot more time on this, this will totally define our economic futures.

Plus I see opportunity in chaos, dudes.

Also: Sweden did it in the 1990s. LEt's do what Sweden does, I say.

And yes there is some kind of equity stake with those warrants I believe it is called, and if there isn't just fucking fix that part later. Anything you don't like remember we can fix under PRESIDENT OBAMA AND HIW NEW TREASURY SECRETARY.

I nominate Buffet. Or Bloomberg. while I like that Clinton holdover guy who's been advising Obama we need a rock star in Treasury. So this program produces $500 billion in profit and within four years Obama can implement every other plan he has.

At fifty-eight years old next week, I'd call Patty Murry a granny in tennis shoes.