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February 28, 2010


Army of Davids

I'm not touching this.

He's not conservative enough for me by a good ways.

But if he's conservative enough to vote against ObamaCare that is good enough for this moment in time.

When it's time he and JD Hayworth can go at it. Right now is a time to focus on the country and stopping the pile of garbage that Pelosi, Reid and Obama have planned.


I am not sure what it takes to convince a lefty

Since that sorry episode involves the executive spending most of a trillion dollars without any Congressional authorization, what it will take is about ten months - throwing money away by executive fiat is going to be big in the Bush Did It: 2011 Edition.

You missed him on the Bloom Box; he was good.

C'mon over here, TCO. I know we can talk rationally about this.

Leo the Leper.

bgates, you aren't funny enough to be for real.


Don't enccourage him, Kim. honestly, the truth is, we were sold a pack of lies, the Treasury, has no intention of actually solving
the problem, we know that now. Then again, the
source code of the Us economy had been so corrupted in the last few years, with the active cooperation of Franks, Dodd, Biden,
& co, that's it's dubious what other alternative would have worked.


Am I being accused of being Leo?

Jim Ryan

kim's on hair trigger. It was a lucid post, possibly a Leo before his evening five vodkas and a percocet.


If Congress didn't like how Paulson spent the first traunch they could have stopped the Obama Administration from drawing down the second (humm what was McCain's vote on the second drawdown?). And since Congress had to run the vote twice (the first tanking markets broadly 7%-10% in the US and 10%-15% internationally) they had a bit of time to rethink their votes.


And it looks like that the Germans and French can't free ride on US bailouts anymore. They might get into the act and shovel some money into Greece. Should be interesting.


I'm amazed this is even an issue. Of course Paulson misled everyone. It was done in the open with absolutely no apologies. Hard to understand why more Republicans like McCain have never really complained about this.


Maybe McCain is embarrassed that he got punked, AGAIN. How many times is that?

Matthew Crandall


I think John has a point--- anybody who talked to him about TARP in 2007 must have surely been misleading him, since the whole TARP thing didn't happen in 2007, it was 2008....


I tuned into the 6:AM edition of MSNBC and all in attendence (John Harwood, Joe Scarborough, Mike Barnacle and some other lefty I didn't recognize) agreed that John McCain knew full well where the money was going, and was only doing this because he had a primary fight.

I didn't know when I decided to see what the other side was saying that it would cause me whiplash. I wonder if I can sue. No wonder the left is so screwed up. They look up and see the sky is blue, and MSNBC tells them it is green.

Matthew Crandall

Oh, and I might add: TARP stands for Troubled ASSET Relief Program, not the Troubled BANK Relief Program. The Troubled BANK Relief Program would be called TBRP, which is the sound I make after eating a very delicious steak dinner.

Captain Hate

Jane, expecting Mike Barnicle to have an independently original thought is aiming way too high.


I am SO not a McCain fan. He tries to serve 2 masters. When he is home he puts on a big conservative show for his constituents...and when he is in DC he puts on a big moderate show for the pundit class/MSM.
I have more respect for politicians I totally disagree with if they represent their constituents and are consistent.
Groveling before the pundits/MSM is the lowest of all.

Still don't.

TCO is on the wagon and buff. Sorry bgates, I thought I smelled the lion's den; I just didn't get your joke.

Cecil Turner

But as a matter of historical fact, what Paulson did was quite different from what he said he would do when Congress voted him the funds. Just as McCain said.

Yeah, but they could've put any restrictions they wanted on it, or changed it afterward (or, more profitably, put the kibosh on the second half of it).

The reason they gave the program to the Administration with essentially no strings is because they didn't have a clue what to do. Hearing a Congresscritter complain about this program after the fact just grates. (Almost as much as hearing Obama claim he "inherited" the mess.)


That's true, Janet, McCain has dissapointed me in a number of ways, McCain Feingold, Gitmo, Cap n Trade, one wishes Hayworth would make more of this, rather than quixotic points like birtherism. I am still not terribly confortable with the support Sarah has given him and how little he has reciprocated in return. Even though I understand it.

But when they deliberately twist the truth, although the people at TPM are probably scarcely aware of it. it's time to correct
the record

Captain Hate

I am still not terribly confortable with the support Sarah has given him and how little he has reciprocated in return.

McCain is out for himself at all times. The "my friends" prefix that he employs so often refers to a null set.


Isn't this interesting, from the Market Ticker

Well, it's too long to copy and paste, but the gist of it is that Goldman Sachs was loan Sharking to Greece at a rate of nearly 17%, off the books.

Some of those conspiracy theories aren't sounding quite as crazy.


Oops, I italicized instead of linked.

Try Market Ticker.

The class includes all those long Euros.

Pof, it seems to me that Goldman should be subject to investor lawsuits from playing that dirty game.


I'll maintain, till, well, sometime, that we'd have all been ultimately better off if these banks/investmenthouses/whatevertheyare had just been allowed to go kerthunk.


--I am not sure what it takes to convince a lefty--

Usually ECT.

And Soros would own the world.  He's disappointed that Obama didn't nationalize the banks.

Well, Pof, it seems they'd have all crapped out but Goldman Sachs, and then where would we be?


I'm leaning that way, too, Po, they peddled this junk all around the planet, they ended
up with Foxes in the henhouse, now they threaten to bring the whole European house
down around themselves


Isn't this the same defense that Dems use on their Iraq War vote: "I know what I voted for gave them vast powers to do what they ended up doing [go to war/bailout banks], but they told me they were going to do something different [only threaten war/buy toxic assets]. They're LIARS!!!!!" So the fault is in voting for too generic of a bill, right?

Thomas Esmond Knox

On October 8 2008, I emailed John Kay (Financial Times) "Dear John, I predict that the offering to Treasury will be of higher quality than punditry predicted."

John replied "We'll see."

McCain and others may have believed that TARP stood for Toxic Assets etc because that was the phrase used by media pundits. It was not used by Paulsen, I had noticed.

I won't bother with the explanation of why it was obvious that the banks needed to offer more value.

In my opinion Paulsen did a fantastic job given the Congressional idiots he had to deal with.

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