Plausible sustainability
Posted by aogTuesday, 04 May 2010 at 21:04 TrackBack Ping URL

Looks like General Motors paid off its government loans with differently labeled government money. Kind of expected, but who would be dumb enough to fall for such a transparent trick?

Oh — right.

Comments — Formatting by Textile
Barry Meislin Wednesday, 05 May 2010 at 02:52

Well, OK, but at least it’s transparent.…

(At least, now that they’ve told us.…)

Annoying Old Guy Wednesday, 05 May 2010 at 08:39

Have you seen that the new finance “reform” legislation will set up a committee with a $4 trillion slush fund which they will use to “protect” companies via “loans” and will not have to tell anyone, including Congress, who got how much money. Yes, the Obama Administration sees and problem and fixes it, I tell you.

Annoying Old Guy Wednesday, 05 May 2010 at 08:51

I wanted to poke some more at Judd but it’s not worth a full post. I was wondering why Judd was so persistent in claiming that the revisions the recent Arizona immigration legislation had “gutted” it, even though it was essentially clarifications and the only thing “gutted” was the hysterical claims by opponents. Then I ran across this in an earlier post where Judd wrote “The law will be repealed in a week.”. Just maintaining the narrative.

pj Wednesday, 05 May 2010 at 14:12

AOG - Thanks, hadn’t seen the $4 trn authorization. Once the new Fed appointees are in, Obama will have complete control over a $4 trn slush fund.

$10 says at least $2 trn is used before his term is out.

Annoying Old Guy Wednesday, 05 May 2010 at 19:32

How would we pay off the bet? The committee will not be required to tell anyone how much of the slush fund they’ve used.

Annoying Old Guy Wednesday, 05 May 2010 at 19:41

Why bother, though? The Obama Administration removed the bailout cap on Fanny Mae and Freddie Mac who are now getting another $10.6B for $127B of bailout cash so far, with no limit in sight. But I am sure that this massive government intervention is somehow a market failure and irrelevant to the current financial meltdown.

Annoying Old Guy Monday, 10 May 2010 at 13:25

Hey, another $8 billion gone for the government sponsored mortgage market. Clearly another failure by those dastardly free market types.

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