The Diabolical Genius of TARP

http://www.electedimbeciles.com ^

[publius321]

"...That’s the diabolical genius of Obama and little Timmy’s (picture Dr’ Evil’s “Mimi-me”) scheme to convert the Preferred Bank Shares to Common stock.

It would appear that if they could take control of the management of these institutions by gaining control of the Boards and a large percentage of voting shares, they would essentially be able to engage in the type of reckless spending i.e. wealth re-distribution without having to bother with Congressional approval.

It would be a minor technicality that they would be calling the redistribution “loans” instead of “spending”. This new spending could essentially be viewed by the recipients as “forgivable loans”. That’s chicanery at its finest! It would be a lousy deal for shareholders because any profits from the -good loans- made by the bank would be wiped out by all of the bad loans. If these preferred shares do get converted to common, don’t look for much in the way of dividends if you are a shareholder because any “profits” will end up in the hands of organizations favored by the administration that is controlling the Treasury Department.

Looked at from this perspective, this would undoubtedly be the biggest bank heist in the history of the world. Instead of the tax-payers getting paid back with the present high yielding Preferred dividends, we will own equity positions in banks that will never pay dividends again as they become a piggy bank for governmental pet projects and corruption..."

[ken21]

no doubt the president’s ideology is that of the european redistributionism.

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

GWB had to destroy capitalism to save it using TARP, "It would appear that if they could take control of the management of these institutions by gaining control of the Boards and a large percentage of voting shares, they would essentially be able to engage in the type of reckless spending i.e. wealth re-distribution without having to bother with Congressional approval. It would be a minor technicality that they would be calling the redistribution “loans” instead of “spending”. "

[ken21]

was this a bush presidential decision?

or a decision by a presidential appointee, paulson?

[pieceofthepuzzle]

“no doubt the president’s ideology is that of the european redistributionism.”

The more they take from me, the less I will work, unless I can come up with a way of protecting what I earn. It's that simple. This is why the small personal gardens in Soviet Russia had great yields, while the collective farms failed year after year. I work all the time, and seldom take vacations. Why should I do that if the government decides the outcome of the fruits of my efforts?

[sickoflibs]

RE :”was this a bush presidential decision? or a decision by a presidential appointee, paulson?:

Are you kidding? You know that reminds me of Mark Levin claiming that GWB was a “good man being given evil advice by Paulson”. I hope you do not listen to him. Naturally Obama's TARP is a “Stalinist intent on destroying our country”.

Ironically democrats and MSNBC claimed Cheney got GWB to invade Iraq, Cheney was the EVIL puppet master, so their narrative is similar to Levin's. My answer to both is the same.

[Ken H]

Didn't Soviet authorities pretty much look the other way on those gardens? I'm not so sure that ours would .

[ken21]

back to september 17th:

who made the decision?

it appears to have been made by democrat socialists and rinos.

[Cacique]

btt

[tbw2]

Isn’t the FDA looking at banning private gardens if you sell or trade produce to anyone else, albeit in the guise of protecting us from melamine tainted Chinese products and Mexican produce with people poop on it?

[publius321]

“Brilliant. Despicably, damnably brilliant.”

LOL Thanks SonOfPyrodex.

[publius321]

“was this a bush presidential decision?

or a decision by a presidential appointee, paulson?”

Initially yes. I think it could be the old “road to hell being paved by good intentions”. The key is that the elected idiots seem to forget that there will be others coming after them who will abuse the policies they set forth, kind of the way DHS will be used by our Hussein against the newly defined terrorists - Christians.

DHS might have been given wide reaching powers with the help of the Patriot Act for valid reasonss but with elected scoundrels, you can always count on the initial cure becoming far worse then the disease itself.

GWB administration didn’t propose converting Preferred shares to Common shares. Of course they should have known it would be the next step taken by liberals to plunder us.

[dennisw]

“never waste a crisis”-— rom emanuelle

[Tublecane]

“Isn’t the FDA looking at banning private gardens if you sell or trade produce to anyone else”

Which obviously comes under their purview, considering the Interstate Commerce Clause. ‘Cause everyone knows private gardeners like to trade across state lines.

Well, I guess ones who live right next to the border might.

[SkyPilot]

GWB had to destroy capitalism to save it using TARP

I agree with your statement - and I am perplexed and saddened that too many here on FR will still refuse to acknowledge was a grave and terrible error GW Bush committed by sending us flying towards Socialism in the waning weeks of his 8 year Presidency.

TARP wasn't a mistake, it was national suicide. "Bailing out" the UAW was taking poison. All of it was terrible. Even when Bush's fellow Republicans begged him not to do it - he did it. He acted the complete fool - and set this nation down the road to ruin.

Obama was handed the keys to conduct his radical fascist agenda on a silver platter.

My only guess is that GW Bush saw his legacy slipping away, and didn't want to be chastised by the media as a "do-nothing-Herbert-Hoover."

Oh, he did "something" all right.

[publius321]

I like the cartoon you posted. Obamunism is great isn’t it?

[Wolfie]

no doubt the president’s ideology is that of the european redistributionism.

Two Presidents, actually.

[sickoflibs]

RE “back to september 17th,who made the decision?,it appears to have been made by democrat socialists and rinos.”

We (not just you many many freepers) need a better name than RINOs because calling GWB a RINO when he was head of Rebublican party for 8 years makes little sense. Then McCain because a head for a short period of time. The RINOs are in charge of republican party, very cofusing.

[sickoflibs]

RE :”My only guess is that GW Bush saw his legacy slipping away, and didn't want to be chastised by the media as a “do-nothing-Herbert-Hoover.”Oh, he did “something” all right”

And he is getting what he deserves by being next to Jimmy Carter in history. I say we dny him that legacy that he tried for two years to sell us out for.