notes from
the MUCK . . .

How does your garden grow? With muck, muck and more muck! I spent much of today finishing the final muck box and then shifting muck from one box to the next. The first box, which the Big Lad is enthusiastically pointing out, has been rotting down for two years now and once we’d removed the top quarter of unrotted material, we found we’d hit the pay dirt.

Sunday, September 21, 2008

Catharsis

Now here is one righteously pissed-off Democrat in Congress:
Paulsen and congressional Republicans, or the few that will actually vote for this (most will be unwilling to take responsibility for the consequences of their policies), have said that there can't be any "add ons," or addition provisions. Fuck that. I don't really want to trigger a world wide depression (that's not hyperbole, that's a distinct possibility), but I'm not voting for a blank check for $700 billion for those mother fuckers.

Nancy [Pelosi] said she wanted to include the second "stimulus" package that the Bush Administration and congressional Republicans have blocked. I don't want to trade a $700 billion dollar giveaway to the most unsympathetic human beings on the planet for a few fucking bridges. I want reforms of the industry, and I want it to be as punitive as possible.

Henry Waxman has suggested corporate government reforms, including CEO compensation, as the price for this. Some members have publicly suggested allowing modification of mortgages in bankruptcy, and the House Judiciary Committee staff is also very interested in that. That's a real possibility.

We may strip out all the gives to industry in the predatory mortgage lending bill that the House passed last November, which hasn't budged in the Senate, and include that in the bill. There are other ideas on the table but they are going to be tough to work out before next week.

I also find myself drawn to provisions that would serve no useful purpose except to insult the industry, like requiring the CEOs, CFOs and the chair of the board of any entity that sells mortgage related securities to the Treasury Department to certify that they have completed an approved course in credit counseling. That is now required of consumers filing bankruptcy to make sure they feel properly humiliated for being head over heels in debt, although most lost control of their finances because of a serious illness in the family. That would just be petty and childish, and completely in character for me.

I'm open to other ideas, and I am looking for volunteers who want to hold the sons of bitches so I can beat the crap out of them.
Too bad he or she is anonymous because that's one Democrat who deserves a political contribution. If only half of them had that kind of attitude we might actually get somewhere.

This bail out nonsense is some of the most infuriating shit I've read since the days leading up to the Iraq War. If this account of how corporate CEOs are suffering doesn't get your blood pressure up, nothing will:
"A lot of those people will have to sell their homes, they're going to cut back on the private jets and the vacations. They may even have to take their kids out of private school," said Frank. "It's a total reworking of their lifestyle."

He added that it's going to be no easy task.

"It's going to be very hard psychologically for these people," Frank said. "I talked to one guy who had to give up his private jet recently. And he said of all the trials in his life, giving that up was the hardest thing he's ever done."
Fucking shameless.

Let's be clear about what this is really all about. After spending two terms inventing reasons to go to war, letting poor people literally rot in the streets, and destroying the economy, this is Bush's last chance to steal our money and give it to his rich cronies. Republicans know that they are going to lose this election. The are not going to control the White House, the House of Representatives, or the Senate. The good old days of stealing from the poor to give to the rich are nearly over, so this is their plan: finally drive the country deep enough in debt to prevent the Democrats from fixing health care or otherwise helping anybody in need. They would love nothing more than to bankrupt the country for their own stupid ideology.

The idea of handing the Bush Administration a $700,000,000,000 blank check is absolutely ludicrous. Remember, these are the fine folks who not only brought you the Iraq War but assured you that it would pay for itself. How's that working out? Now they want us to believe that, hey! You never know! Government might just turn a profit on this bail out! Just how fucking stupid do they think we are?

Paulson and his asshole Republican friends like John Boehner are all over TV bitching how they want a "quick" and "clean" bill and how this is "not the time for partisan politics." Translation: "Just pony up seven hundred billion dollars and don't ask too many goddamn questions about it." If, after seven years of standing idly by and watching the Republican Party shit all over this country, Democrats still don't have the balls to stand up and ram some real fucking reform down their throats before bailing their sorry asses out of this mess, then what the hell did we elect them majority of both houses for?

Fucking grow a pair, Democrats. DO NOT FALL FOR IT AGAIN.

At a minimum, I think this bail out has to include three things:

(1) Giving government the power to restructure mortgages so that rather than a bunch of defaulted loans and foreclosed properties people actually get affordable payments that let them keep their homes. Financial sector doesn't like it? Fuck 'em, I guess they don't need our seven hundred billion dollars after all.

(2) Government gets a stake in the equity of bailed-out financial institutions and doesn't just buy their otherwise unsellable bad debt, so that when they start to profit again -- because you know they fucking will -- we benefit.

(3) Punishment and humiliation for the assholes who created this problem.

Robert Reich has more to say about this. Seriously, if you don't like my letter, write you own. They need to know that we are paying attention.