Cash for Clunkers is a Cluster****

[Sava]

Much better than giving the arseholes at Goldman Sachs bigger bonuses for fvcking the system up.

The government should pay people to dig ditches, then fill them up with the bodies of hedge fund managers.

[KrazyHorse]

Much better than giving the arseholes at Goldman Sachs bigger bonuses for fvcking the system up.

Goldman's already repaid the amount they were loaned, plus 26%.

[KrazyHorse]

The government should pay people to dig ditches, then fill them up with the bodies of hedge fund managers.

IB != HF

[Japher]

Much better than giving the arseholes at Goldman Sachs bigger bonuses for fvcking the system up.

Goldman's already repaid the amount they were loaned, plus 26%.

And I wonder how they did that? I guess it helps when you regulate yourself.

[KrazyHorse]

I have no idea what that's even supposed to mean.

Financial conspiracy theorists wouldn't sound quite so retarded if they could postulate at least a semi-plausible mechanism instead of relying on a bunch of catchphrases.

[Sava]

IB != HF

I was going to say "everyone on Wall Street", but I felt that was generalizing a bit much. I didn't care so much as to get it right, so I threw the first evil sounding job that came to mind. As, DD would say, my give a **** is broken on that one.

[DanS]

better than

These words almost always set up a false comparison. It's lazy thinking.

As stated numerous times before, government programs should rise and fall based on the merits of the program, not based on the fact that the program is slightly less retarded than an amazingly retarded program that somehow made it through.

If we followed your line of thinking to its logical conclusion, a budget would be merely a prioritization of stupid programs.

[Sava]

amazingly retarded

[notyoueither]

These words almost always set up a false comparison. It's lazy thinking.

As stated numerous times before, government programs should rise and fall based on the merits of the program, not based on the fact that the program is slightly less retarded than an amazingly retarded program that somehow made it through.

If we followed your line of thinking to its logical conclusion, a budget would be merely a prioritization of stupid programs.

[Arrian]

Re: Goldman...

The latest criticism is that the gummint handed billions to AIG, and AIG turned around and paid off Goldman at 100 cents on the dollar. Therefore, it was a (not so) stealth bailout of Goldman. So the argument goes. Is this silly? If so, why, exactly?

-Arrian

[DanS]

NYE: Well, what can I say? He backed up his argument with the fact that there is a stupider program out there.

[KrazyHorse]

Re: Goldman...

The latest criticism is that the gummint handed billions to AIG, and AIG turned around and paid off Goldman at 100 cents on the dollar. Therefore, it was a (not so) stealth bailout of Goldman. So the argument goes. Is this silly? If so, why, exactly?

-Arrian

I'm interested in knowing exactly how much gov't money AIG has handed Goldman as collateralization. I'm also interested in knowing how much of this collateral is going to end up coming back to AIG when the underlying contracts expire without being exercised.

By the way, the collateralization deposits from AIG do NOT count as profits in Goldman's books.

[Japher]

NYE: Well, what can I say? He backed up his argument with the fact that there is a stupider program out there.

No I didn't, I backed up my argument with a clear logical progression that the Cash for Clunkers program would stimulate the economy, unlike other spending which intended to do so, but instead rewarded those who caused the problem.

[Dinner]

It doesn't sound as bad as some people are making it out to be. It has really helped spike new car sales which helps the economy in so many ways plus it does get gas guzzlers and heavy polluter off the road for good since the old junkers are all crushed.

[Dinner]

No I didn't, I backed up my argument with a clear logical progression that the Cash for Clunkers program would stimulate the economy, unlike other spending which intended to do so, but instead rewarded those who caused the problem.

Which makes it better then many other programs out there.