You may only read this site if you've purchased Our Kampf from Amazon or Powell's or me
• • •
"Mike and Jon, Jon and Mike—I've known them both for years, and, clearly, one of them is very funny. As for the other: truly one of the great hangers-on of our time."—Steve Bodow, head writer, The Daily Show

"Who can really judge what's funny? If humor is a subjective medium, then can there be something that is really and truly hilarious? Me. This book."—Daniel Handler, author, Adverbs, and personal representative of Lemony Snicket

"The good news: I thought Our Kampf was consistently hilarious. The bad news: I’m the guy who wrote Monkeybone."—Sam Hamm, screenwriter, Batman, Batman Returns, and Homecoming

October 04, 2008

Treasury To Pay Tens Of Billions To People Who Created Disaster To Manage Disaster Bailout

Of course.


It will be one of the world’s largest asset management firms with an impressive $700 billion war chest...

Treasury officials do not plan to manage the mortgage assets on their own. Instead, they will outsource nearly all of the work to professionals...

The government will hire only a bare-bones internal staff of about two dozen people with expertise in asset management, accounting and legal issues, according to administration officials, and will outsource the bulk of the program to 5 to 10 asset management firms...

[W]ith $700 billion to disburse, the plan could still generate tens of billions of dollars in fees if the firms negotiate anywhere close to their standard fees.

—Jonathan Schwarz

Posted at October 4, 2008 08:26 AM

The Hon. Arlen Specter responds to calls to oppose this swindle:
I reluctantly supported this package because the failure of Congress to act would run the risk of dire consequences, including an economic downturn which could cause more foreclosures, jeopardize retirement accounts, and further restrict credit which is necessary for small businesses to operate.

Credit market seizure was the main selling point of this brazen theft of public funds, yet the same day the Hon. Arlen Specter justifies his assent to this heist the weekly Chase Card Services advisory arrives:
You're Pre-approved for the Chase Freedom World MasterCard--no annual fee, $100 first purchase cash back, 3% cash back where you spend most & 1% cash back elsewhere. What the bloody fucking hell?

This is a crock of shit, Hon. Arlen Specter, and it stinks.

Oh, and is J. Paul Bremer going to be appointed Viceroy of this privatized bunko operation?

Posted by: Pvt. Keepout at October 4, 2008 10:16 AM

probably one of the negropontes or oliver north. those guys havent gotten out in the sun much...

Posted by: almostinfamous at October 4, 2008 11:39 AM

Treasury Provisional Authority
Hollow Government
Gov' Small Enough to Drown in Bathtub
Recursive Subcontractor RSS

Klein said that as more peeps become aware of Their stragey & tactics, we'll be able to resist them, but I'm not optimistic like that.

Posted by: Cloud at October 4, 2008 11:48 AM

I wasn't too shocked when Congress intervened to keep the ponzi scheme going, but it is a little surprising how ribald they've been about making sure it continues to reward the ring leaders.

Can anybody make out a loan for a pitchfork?

Posted by: buermann at October 4, 2008 11:52 AM

Now I understand why the Bush Administration made such a mess of the response to Hurricane Katrina. No foolish FEMA bureaucrat can possibly understand the complexity of a hurricane; thus, they should have hired Hurricane Katrina to rebuild New Orleans.

Posted by: Whistler Blue at October 6, 2008 02:31 PM