September 07, 2008

Current Election Prediction

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Posted by matter at 10:40 AM | Comments (0)

McCain & His Olly Milf In Words

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Posted by matter at 10:40 AM | Comments (0)

September 06, 2008

September 05, 2008

Fannie and Freddie are Bankrupt

The administration apparently decided it would be better to act now rather than closer to the presidential election in two months.

So.

These companies are flat busted. Basically, the effect of the Depression, once again. This time the Feds say they are going to be the backstop that prevents the bottom from falling out.

Of course, check the story for the details. NYT sez boards would be replaced and shareholders would be virtually wiped out but is that really the case? Referring back to Bear Stearns the Times claims the Bear shareholders received a “nominal amount.”

But recall, initially that nominal amount was supposed to be $2/share; after howls of protest, the share price was raised to $10. Perhaps that's still “nominal” compared to the previous offer. But it's a whole lot more substantial than, say, the hundreds of Internet stocks that went to $0 in 2000.

It's quite possible the Freddie and Fannie “shareholder wipeout” stance is simply a trial balloon. After some protest, the share price might be raised, depending on which faction wins that class warfare.

The bottom line, of course, is the election. Bush wants to get his latest economic miracle out of the way so that McBush and his MILF can get that behind them before their theft attempt goes down.

Posted by matter at 11:01 PM | Comments (0)

August 30, 2008

Palin Compares Herself to Hillary Clinton

Posted by matter at 02:22 PM | Comments (0)

August 28, 2008

Senator McBullshit Displays His Sensitivity

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“Sen. McCain has always been sensitive to national crisis” brayed McCain spokeswanker Tucker Bounds. Why yes, of course. Like on August 29th, 2005, when McCain ate cake and laughed it up with the Unelected Psychopath, while in the meantime, in some distant part of the country, a city drowned.

Stop lying McCain. It only makes you look more stupid and senile than you are.

Posted by matter at 10:24 PM | Comments (0)

August 20, 2008

August 15, 2008