kkaabboomm said:time for kkaabbboomm to rant.
it is 8:30am eastern. 8 fucking 30 in the morning, on september 26th
the shit hit the fan on september 14th when no one wanted to buy lehman brothers and merrill lynch sold itself to bank of america to stave off complete fuckness. everyone wakes up on 9/15 and the market starts to die. people start to realize the liquidity market is getting absolutely fucked. fucked. not partially fucked, but absolutely fucked. bear already got bought by JPMC, people were talking about how wamu and AIG were getting ready to go, freddie and fannie already went, and, well, shit was hitting the fan.
mccain, in his fucking infinite wisdom, decides to tell the nation the foundations of the economy are strong. no. no they werent. not that morning, not the day before. what the market was letting people know, as mister asshat was being stupid, was that the foundations were NOT strong. oh, but he meant people and their work ethic. good for them. they can want to work all they want, but if money is not being lent, then fuck us all.
night of 9/15, JPMC has to lend lehman bro's 80 or so billion. the fed loans them some money to help cover, because lehman fucking died and pieces were being sold to barclays, the good capitalists they are, for fuck cheaper than barclays wouldve paid on sunday. tuesday, AIG fucking dies. AI fucking G. not just, like, oh no, help me obi wan kenobi you're my only hope, but omfg luke just blew up the death star, sir, shit. AIG. the US government had to seize AIG basically. no one else would, they were over leveraged, one part of their company was royally fucking every other good piece there was.
well fuck us. paulson and co go to capital hill that thursday, and drums it into those congresscritters heads just what is up. congresscritters are that, congresscritters. they arent financial bankers/econ majors/etc. yes, they run the banking committee/etc. but they have advisors, who apparently couldn't let anyone know wtf was up, so other people had to.
shit got real. why? BECAUSE THE LIQUIDITY MARKETS WERE COLLAPSING, and when no one will lend money in the large firms, this is called BAD.
example: just yesterday, Bank of America, BANK OF AMERICA, decided it wouldn't lend any fucking money to MCDONALDS. the house of Ronald and all that jazz.
does that make sense to people now? do they understand just what the problem is? when BANK OF AMERICA WILL NOT LEND MONEY TO MCDONALDS, things are bad. franchise owners cant borrow to buy that new coffee machine to compete against starbucks, new ones won't open, etc, etc.
the US economy is based on people being able to have access to money, short and long term. when no one will lend you money, it doesnt just hurt the financial sector and those who were fuckups. it hurts many other pieces as well that, on first glance, have nothing to do with anything.
why post in poligaf this rant. one word. johnfuckingmccain. he's a fucking asshole. not an asshole. a FUCKING ASSHOLE. oh, im going to suspend my campaign (and by suspend i mean take down tv ads for a couple days, save a couple million to use later, still do everything else, and not hold a town hall meeting with Palin where people won't ask her a real Q because holy fuck did anyone watch her with gibson or couric), go to washington and break this deadlock on the deal.
fuck you john mccain. fuck you. wednesday, a deal was being worked on hardcore. hard fucking core. people were negotiating, etc. principle ideas were being reached. that core group of dipshit R's in the house who want to deregulate more and whatnot, yeah, they were told by paulson, WH, dems, everyone, that they were stupid and shit was hitting the fan. in honesty, when the leadership was all announcing a deal yesterday midday, the house R's probably would've come along.
but no. nooooooo. john fucking mccain came to town, and they got a cause. we can help him out. he'll fight for us. he wants our plan, not theirs. so after mccain said jack shit at the white house besides cursorily bringing up their plan, shit hit the fan. the absolute fan.
the deal fucking fell apart. last night, the house R's walked the fuck out of talks.
thanks john mccain. thank you for being an asshole. theres a reason you should not have come back, because presidential politics bring fierce party loyalty/etc to things. which, omg, who would've guessed, IS WHAT HAPPENED.
something has to happen. the ONLY REASON the market has been doing "ok" this week is they knew a 'bailout' was coming. sad but true. the market, right now, is fucked. not a bit, but royally. jack welsh/walsh (spelling?) former lead of GE, says no matter what a recession. whatever, his opinion.
but when BANK OF AMERICA is refusing to lend any money to MCDONALDS, maybe there actually is a problem, and if it gets worse liquidity markets can very easily freeze and many banks/etc can and will fail.
i don't know how else to try and explain this besides the mcdonald's example. i really dont.
omg, kkaabboomm is overreacting. its not mccains fault the house R's are balking. yes. yes it is. they werent, they were grudgingly going along, he shows up, and boom, wtf, they walk out all hardline. let me say again - leadership from both parties announced a deal in principle. you dont do this unless you think you've got the votes at the time, even grudgingly.
mccain fucked shit up. shit is hitting the fan. this isn't just about bailing out wall street firms, it really is about rescuing the us economy from their fuckups.
so fuck you john mccain. fuck. you. right now, at 8:50am eastern on 9/26, i say fuck you. go back to your town hall meetings, or hell, fucking SAY WHAT YOUD LIKE ABOUT THE PLAN, seeing as you havent told anyone in congress what you'd like in it. dont do this shit. not now.
fuck you mccain. at this point, i cannot help but completely agree with obama position of 'lets not fuck shit up by going there'. as such, he will now get my vote, regardless of if mccain 'magically saves the deal today in time for the debate!' or whatnot. no. fuck him. fuck him. shit wouldve been mad smooth today had he not been a complete asshat.
fuck. john. mccain.
who knows, maybe i'll soften my stance later today. or tomorrow. but right now, i am mad. this shit better not get fucked up. the markets are currently inflated on the bailout plan alone. maybe that sucks, as a catch-22, and we'll never know what else could be done. at this exact, current point in time, oh the fuck well. personally, i will not be a fan of liquidity markets freezing and no one willing to lend anyone money, and the failures that naturally flow from such an event. and, since john mccain has upped that possibility much more than it needs to be, fuck him.
gobama.
:Bow: :Bow: :Bow:
Its like everything wanted to say last night, but much more coherent and with slightly less obscenity.
