corpoRATe welfare bailout signed, dow says thanks by dropping over 150 points…
*** DOW DEATH SPIRAL™ ***
|Trade Time:||Oct 3, 2008
|Day’s Range:||10310.25 – 10796.26|
|52wk Range:||10,261.80 – 14,280.00|
DIVE, DIVE, DIVE!
Well Cricketeers, the grand larceny by legislation was signed by the war criminal in chief in washingtOOn. WE HAVE BEEN ROBBED! DAGNABIT! What are they taking money out of our pockets to buy? This calls for another edition of
ClapSo’s Clip Clops
Lets start with the real question, WILL IT WORK? This from cnnmoney:
Bailout: Will it work?
Experts differ on whether the $700 billion bailout plan will prompt banks to lend and help the economy. But even if it does, it will take time.By Tami Luhby, CNNMoney.com senior writer
October 4, 2008
NEW YORK (CNNMoney.com) — The $700 billion bailout plan signed into law Friday may get banks to start lending to each other again. But it remains to be seen how long that will take to jumpstart an ailing economy.
The goal is to unfreeze the credit markets. Financial institutions have become paralyzed with fear and though they have plenty of cash on hand, they’ve been hoarding it. Without this intra-bank lending, businesses are having trouble getting the financing they need even for daily operations, much less loans for longer-term projects.
“Hopefully, this will lend a calming effect to the markets,” said Joe Belew, president of the Consumer Bankers Association. “We need to take a deep breath, relax and start doing business again.”
CLOP: SONOFABUSH! So far the bill has NOT calmed the world market, and the corpoRATe boardroom pinkos™ running the financial sectors overseas are now demanding bailouts from their governments too! These corpoRATeers are the same kind of thieves no matter where they are!
What about the “protecting main street from wall street” claim made by the ethically challenged dogs in washingtOOn? This from yahoo! sports:
The U.S. Senate shows NASCAR a little bailout love
By Jay Busbee
Politics post here. It looks boring, but stick with it. Trust me.
As you’ve no doubt heard, the U.S. Senate has passed its own version of the bailout bill that flopped so spectacularly in the House earlier this week. Now, the prudent thing to do in such a situation would be to take a close look at why the bill failed, strip it down, streamline it, and calm everyone’s fears by making sure it does exactly what it promises to do.
This being Congress we’re talking about, though, they naturally did the exact opposite. The Senate larded down (or, as they like to term it, “sweetened”) the bill with tax breaks, benefits, grants, loans, and kissy-face promises to pretty much every opportunistic Senator and grasping special interest out there. Business as usual.
Which is where NASCAR comes in. Now, buried way way down in the bill is this particular little tidbit:
SEC. 317. SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK FACILITY.
(a) In General.–Subparagraph (D) of section 168(i)(15) (relating to
termination) is amended by striking “December 31, 2007” and inserting
“December 31, 2009”.
(b) Effective Date.–The amendment made by this section shall apply
to property placed in service after December 31, 2007.
CLOP: What this means is that the straightaway at nascar tracks is now considered “main street” and the rest of our country is considered the woods. The nascar give away is the tip of the iceberg. This over 400 page corpoRATe welfare bailout doles out the pork to every big business crook in the WORLD.
Click the above link, then SUPPORT AND VOTE NADER FOR REAL CHANGE!
The Telepathic Crickets™ on the ClapSotronics editorial board and I hope YOU realize HOW SCREWED WE ALL ARE!
If you want more info on the alternative debate happening around October 16 or 17, click these links:
To take action on opening the debates to Independent and third party candidates CLICK THIS LINK!
Please send an email to janut janet brown the executive director of the “Commission on Presidential (non) Debates.” Below is the email I sent her. Feel free to use that one or write your own! Her email address is: email@example.com
I know you and the rest of the feckless appaRATchicks in washingtOOn are busy trying to sell the Brooklyn Bridge of a corpoRATe bailout plan to us sucker taxpayers. But it would be really keen if you stopped for a second and understood that “debates” which include only the co-joined twins of the apocalypse called mcbama will amount to nothing more then the left ass cheek telling the right ass cheek that it smells bad.
After all, there is this thing called democratic process! I understand how inconvenient and annoying it can be for you in the CENSORSHIP industry, but some of us are really old fashioned and set in our ways.
We believe THAT ALL THE CANDIDATES ON THE BALLOT FOR ELECTION should be included in the debates.
This is not a request, but a demand!
I hope your 401k goes bust in the stock market crash…
I really do hope all the feckless appaRATchiks in washingtOOn lose their 401k’s in the market crash!
Don’t forget to stop by our satirical sister blog:
Make sure YOU WATCH THESE VIDEOS!
The scientifically impossible I do right away
The spiritually miraculous takes a bit longer
Clop: it hasn’t worked so far! As I write this the dow is poised to have another down day, and WORLD financial markets are crashing!
~ by ClapSo on October 6, 2008.
Posted in Bank Failures, Budget, Change, clapso, corpoRATe boardroom pinkos™, corpoRATe welfare, CorpoRATeer, Crash, Cricketeers, DAGNABIT, democrats, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, ethically challenged, government bailouts, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, Mortgage Crisis, MSM, Nader!, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, progressives, republicans, SONOFABUSH, Stock market, Stocks, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!
Tags: Bank Failures, Budget, Change, clapso, corpoRATe boardroom pinkos™, corpoRATe welfare, CorpoRATeer, Crash, Cricketeers, DAGNABIT, democrats, DOW DEATH SPIRAL™, economic disaster, economics, ELECTION, ethically challenged, government bailouts, LEMON SOCIALISM, LET NADER DEBATE!, Libertarian Party, Mortgage Crisis, MSM, Nader!, open the debates!, OPEN THE PRESIDENTIAL DEBATES!, Politics, Pork barrel spending, progressives, republicans, SONOFABUSH, Stock market, Stocks, Telepathic Crickets, Thieves, Wall street, washingtOOn, World Market, WTF, YOU!