Tag Archives: financial markets

Hey, the Banks Have a New Xmas Club, and They’re All Members!

There will be no worries about regifting in the financial sector this year! Just in time for Christmas, Santa Paulson has presents for banks, no matter if they have been naughty or nice! From The Washington Post:

The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.

But corporate tax lawyers quickly realized the enormous implications of the document: Administration officials had just given American banks a windfall of as much as $140 billion.

…snip…

The story of the obscure provision underscores what critics in Congress, academia and the legal profession warn are the dangers of the broad authority being exercised by Treasury Secretary Henry M. Paulson Jr. in addressing the financial crisis. Lawmakers are now looking at whether the new notice was introduced to benefit specific banks, as well as whether it inappropriately accelerated bank takeovers.


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Filed under 9/11, Charles Schumer, Chimpy, Chuck Grassley, Congress, Democrats, George W. Bush, humor, IRS, movies, parody, politics, Republicans, September 11, snark, Wordpress Political Blogs

It’s a Miracle!

(CNN) — Sen. John McCain’s senior domestic policy adviser said Tuesday that the BlackBerry mobile e-mail device was a “miracle that John McCain helped create.”

When asked, Captain Underpants laughed and said, “That’s silly! People can’t invent fruit!”

The adviser, Douglas Holtz-Eakin, discussing the nation’s economic woes with reporters, said that McCain — who has struggled to stress his economic credentials — did have experience dealing with the economy, pointing to his time on the Senate Commerce Committee.

Pressed to provide an example of what McCain had accomplished on that committee, Holtz-Eakin said the senator did not have jurisdiction over financial markets, then he held up his Blackberry, telling reporters: “He did this.”


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Filed under 2008 election, Barack Obama, Chimpy, George W. Bush, humor, John McCain, movies, parody, politics, Republicans, Senate Commerce Committee, snark, Wordpress Political Blogs

But…but…but all of Chimpy’s buddies are getting rich!

From the Los Angeles Times:

WASHINGTON — As President Bush spoke about the state of the nation’s economy recently in the century-old Grand theater in New Albany, Ind., his words were as cheery as the vaudeville acts that once played there.

But the storyline beyond the stage is closer to film noir.


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Filed under 2008 election, 9/11, Chimpy, Corporate greed, Dana Perino, George W. Bush, humor, Iraq War, Katrina, movies, parody, politics, Republicans, September 11, snark, Wordpress Political Blogs