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The Bailout Mascot


Perchoutofwater
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The government today announced it was changing the national symbol to a condom because it more accurately reflects the governments political stance. A condom allows for inflation, halts production, destroys the next generation, protects a bunch of pricks, and gives you a sense of security while you are actually being screwed.

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The government today announced it was changing the national symbol to a condom because it more accurately reflects the governments political stance. A condom allows for inflation, halts production, destroys the next generation, protects a bunch of pricks, and gives you a sense of security while you are actually being screwed.

 

 

So, bottom line is you like it in the kiester?

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No that was the Bush economy mascot instead.

 

It's an easy mistake to make as we're still taking in the rear from W.

 

Yep Bush received all that money form Freddie an Fannie, and he is the one that pushed for mark to market.

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Yep Bush received all that money form Freddie an Fannie, and he is the one that pushed for mark to market.

 

Actually, mark to market was a good thing...but had unintended consequences...such as the case is when we fast foward to now. If mark to market was such a bad thing, then the republican controlled congress and republican president could have repealed it. It was enacted in 1993..as I remember...and was enacted so firms could value securities held or traded at broker dealers...stuff used as collateral. The unintended consequence of this was how the banks had to write down assets on the books...that even though were being paid....still no paper was worth less if sold. This problem had a lot to do with CDO's and mortgages funding them. The benefit of mark to market is that it allows the FDIC to come in a rescue a failed institution before it hits absolute zero...the problem I have with that is given enough time, the likelihood is that the institution would have recovered on its own. So, it is a double edge sword. I would blame the Clinton Treasury Secretary for not giving guidance to Tax courts while also blaming the Congress for not repealing this when the unintended consequence came up.

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Yep Bush received all that money form Freddie an Fannie, and he is the one that pushed for mark to market.

 

 

Naah he just schtuped the middle class so robber barons could keep more of their money. :wacko:

 

In reality it was a re-writing of tax laws disguised as a jobs program. I don't mind changing the tax code but don't lie about it-sell it for what it really is and let the voters or their reps decide.

 

It wasn't a jobs program.

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