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Posted on 08/03/2011 9:54:12 AM PDT by Huskrrrr
The most distressing outcome of the deficit hysteria gripping Washington may be what Barack Obama has revealed about himself. It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right. It was shocking when he betrayed core principles of the Democratic Party, portraying himself as high-minded and brave because he defied his loyal constituents. Supporters may hope this rightward shift was only a matter of political tactics, but I think Obama has at last revealed his sincere convictions. If he wins a second term, he will be free to strike a truly rotten “grand bargain” with Republicans—“pragmatic” compromises that will destroy the crown jewels of democratic reform.
I suggest they put up their own guy for Primary in 2012!
“pragmatic” compromises that will destroy the crown jewels of democratic reform”
Please, please tell us what the crown jewels of reform are. I know, but if they actually told voters exactly what they wanted then they would be hung for treason
:...It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right...”
This comment coming from a group who’s economic record is one of massive fail?
Hey commies, go back to something you actually understand...like....er....uh.....
Neither has anyone on the right.
What nonsense.
Obama ‘betraying the core principles of the Dem party’?
Pffftttttt...
Epic economic failure, Gulags, Mass Murder,
Sweet.
Nader - Kucinich 2012
"If you think 0bama has messed things up, wait and see what we can do!"
What leftist principles are they talking about? They have no principles!
Good - now we all can despise him.
The left has become unhinged? They were hinged before?
Who knew?
Actually Kucinich would be the perfect guy to take the US into formal bankruptcy. He has experience doing it when he was mayor of Cleveland.
It’s fake leftist outrage to make Obama look moderate.
Clinton did this, too.
Why the primary? The left should run a credible third party condidate, capable of scamming Democrat voters.
He is doing to the dumb-o-crats what he does to ANYONE who come between HIM and HIS re-election chances, throw them under the bus.
It is always about HIM, FIRST, LAST AND ALWAYS HIM
And still his will slaves follow him while he views them as under the bus fodder whenever he deems their usefullness over.
I just hope that this doesn’t convince anyone that Obama is now a “moderate”.
Where is Ralph Nader when we (giggle) need him most?
Give them all kinds stuff for free so they never have to get out of bed?
They're mad because the tax slaves are rebelling and demanding their freedom.
No slave labor - no democrat party.
This is rather refreshing… Seeing the left bemoan their own defeat.
The mainstream media (who are now essentially left of center) just spent the last month being dishonest to their audiences who will probably be very weary of believing their foolish rhetoric in the future.
They preached that taxes were essential for any debt ceiling compromise. They went to bat for their hero Obama and lost. The compromise included no taxes and now these shills who preached tax, tax, tax look like fools… They’ve blamed the tea party, the Democrats, the Republicans and even their hero Obama - but they can blame and bemoan all they want.
Now they just look stupid, which is exactly what they were and still are. Their best bet would be to admit that they are wrong, and stop pretending that they were right.
Just look at the threads here on FR to see how successful the Communists were with creating a firestorm out of this bill. They know they got everything and more than they thought possible but will not admit it. They are experts at this. They had the right howling at each other, making threats, and many actually changed their party affiliation from R to I.
They are so close to total victory they can almost taste it. Don't think for a minute they're gonna ease up. No way. If anything they are going to throw on more coals and ratchet up the steam. While we take each battle as it comes and believe it's about what ever the subject du jour may be the commies are 5 plays ahead of us and every battle is about WORLD domination. They look at every possible outcome for every one of these battles and how they can use that outcome to their advantage.
Just so you understand their problem with this bill, libs/progressives want no cuts except in defense, another huge stimulus bill (esp with the economy tanking) and tax increases on ‘the rich’ tp pay for it and they want Obama to fight for these things scorched earth.
What these libs dont understand is something that Rush also incorrectly predicted last year, Obama may be liberal but he wants re-election more than anything. Being tied to Democrats limits Obamas options, he still has to play his base to keep them voting but he cant possibly give them what they want and still have a chance of getting re-elected and he knows this.
You mean Mayor Dennis “Burning River” Kucinich?
Anyway, FReepers need to go to the public library and occasionally read The Nation (taxpayer paid for) and wonder what kind of totalitarian control freaks actually subscribe to this statist garbage.
They think Castro, Chavez, and Ortega are failures at bringing socialism and just didn’t try hard enough.
And the classifieds in The Nation will make your hair stand on end.
Yup...that is how it is supposed to work
Yup...that is how it is supposed to work
I owe Dennis a bit of gratitude
his taking Cleve into bk convinced me to move away and never look back
I thought there was a Kucinich rule...
We never see a ‘rat poll or any ‘rats suggesting who they would like to see run.
” What these libs dont understand is something that Rush also incorrectly predicted last year, Obama may be liberal but he wants re-election more than anything. Being tied to Democrats limits Obamas options, he still has to play his base to keep them voting but he cant possibly give them what they want and still have a chance of getting re-elected and he knows this. “
I don’t know if Obama really wants a second term. He STOLE so much money that he may be wild to spend some of it.
“...he betrayed core principles of the Democratic Party”
uh....that’s not possible!
Democrats have no “core principles”!
They are grounded in the church of “whatever’s working for me lately”.
They move to where ever the votes for government dependence are most plentiful.
It's one way liberals work to trick the middle class... 'see our guy's NOT a leftist - he's middle of the road'. Yeah, right. The MSM pushed that with every liberal who's run for the past 30 years.
Have YOU ever seen the MSM push the idea that a conservative is really MORE liberal than people think? Never. The MSM plays for the benefit of one side, and one side only.
Beautiful! I enjoyed that.
If re-elected I hear Obama has a secret plan to do away with Social Security and Medicare.
Pass it on to any Lefties you may know.
Rush is going unhinged today. Won’t take phone calls. Just going off, madder than hell. Saw some stories that said debt deal will force us to raise taxes of armageddon is at hand (again). He loses his effectiveness when he is like this. Phone @ 1:25 PM First caller “why so dispondent” Rush: I’m not. I’m just ticked off... LOL
*
No believe it or not their outrage is very real.
I was over at DU earlier today. I didn't see one positive comment about Obama and that's a first.
I’ve been explaining the bill to my favorite Leftist.
He hates both parties now.
We are going down hard.
Thanks for the recap.
I hesitated to ask what the author might mean by "the crown jewels of democratic reform."
1. Higher taxes
2. Defunding of the military
3. Voting rights for illegals
4. More abortions
5. Dachas for all .
ANOTHER CLUE: Is Michelle opening up revolving charge accounts at Tiffany's, Bulgari, Alexander McQueen Couture, Rolls Royce Ltd, Town and Country Real Estate, etc, etc, etc?
There was such a clause in Corzine’s employment contract filed in March but this language is more specific.
It was rumored that if Hillary Clinton had become president Corzine wanted the Treasury job which was held in the Bush administration by Hank Paulson, the G/S insider guy who led the revolt against Corzine at Goldman Sachs. That’s when Corzine spent $185M of his own money to buy a US Senate seat and the Governor's chair.
========================================
ITEM Obama tried like heck to get Corzine reelected---he went to NJ three times---Biden was there twice.
ITEM Obama TV ads for Jon ran relentlessly on pricey NY media.
ITEM The Obama WH micro-managed every aspect of Jon’s campaign, reported the NY times.
ITEM As a final show of support--Obama sent $17.5 BILLION federal stimulus to NJ which disappeared without a trace upon arrival.
ITEM NJ voters threw Corzine out of office anyway. Corzine ended up as CEO of MF Global. MFG stock went up 15% in the pre-trading after-hours announcement.
ITEM Is NJ’s billion dollar pension fund invested in MF Global?
ITEM Is the $17.5 Billion stim invested in MGF?
ITEM Is Corzine going to Treasury to execute a transfer of the $17.6 billion into Obama’s campaign?
Food stamps? Medicare and medicaid?
You mean Mayor Dennis “Burning River” Kucinich?
Anyway, FReepers need to go to the public library and occasionally read The Nation (taxpayer paid for) and wonder what kind of totalitarian control freaks actually subscribe to this statist garbage.
They think Castro, Chavez, and Ortega are failures at bringing socialism and just didn’t try hard enough.
And the classifieds in The Nation will make your hair stand on end.
As weird as this looks it's actually a very reasonable rate of "conditional insurance premium" to entice the people who are concerned about the possibility of Corzine leaving the fund for Obama's post to still invest in the fund. The mechamism / instrument is a little unusual but not that much different from taking a "key man life insurance" policy by companies where their fate depends on one or few "key" persons (such as inventors or executives) essential to survival of the company.
The major difference between the two is that Corzine's "insurance" is conditional so that MFGH won't have to pay the premium upfront. It also means that they consider the possibility remote, but need to offer an incentive to possible investors who are concerned about the rumors of this very specific scenario. Apparently the bankers from Jeffries & Co., who worked on this bond deal, came up with the shrewd structure that allows the firm not having to pay the "insurance premium" unless the condition/event actually happened.
From Wall St. Stunned by Corzine's Obama Covenant - BL, by Tim Catts, Matthew Leising and Christine Harper, 2011 August 02
The futures broker is selling $300 million in five-year unsecured notes ..... < snip > ..... “That seems crazy" said William Larkin, a fixed-income portfolio manager who oversees $500 million at Cabot Money Management Inc. in Salem, Massachusetts, and has 22 years of experience. “I've never heard of something like this." ..... < snip > ..... Corzine's employment contract is written with a view to future government service. It stipulates that he'll be paid his $1.5 million retention bonus on a pro rata basis if he leaves to work for any “U.S. federal, state or local government" before March 31, 2014. Five senior Wall Street executives at rival firms, who declined to be identified because they weren't authorized to comment, expressed amazement at the bond offering's unique terms. ..... < snip > ..... “I can't say I've ever seen a provision similar to this one," said Alexander Diaz-Matos, an analyst at New York-based Covenant Review LLC, which analyzes bondholder protections. “Apparently Corzine is a big enough deal to the company that if he leaves, potential investors demanded a little extra protection." ..... < snip > MF Global Holdings Ltd. (MF) took the cult of the Wall Street chief executive officer to a new level with a plan to sell bonds that pay a higher rate if Chairman and CEO Jon Corzine quits to accept a job from the U.S. president.
This is just a variation on the concept of CDS or interest-rate swaps, which is well understood on Wall Street and in financial circles. John Paulson and few others made billions of dollars using CDS betting against mortgage market CDOs / MBS which AIG's London's Financial Products division (mostly) had underwritten.
Yes!!! Please vote for Markos Moulitsas in the Democratic Primary!
Let’s elect a Communist in 2012!
” John Paulson and few others made billions of dollars using CDS betting against mortgage market CDOs / MBS which AIG’s London’s Financial Products division (mostly) had underwritten. “
A Paper.....................ROTFLOL!
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