Comments on: Middle Management * Open Thread

By: Ferd Berfle

Ferd Berfle — Sun, 30 Nov 2008 23:53:39 +0000

ROFL.

By: del

del — Sun, 30 Nov 2008 23:47:24 +0000

You for mortgage insurance on your list of insurance. That in fact is the major one. Without it you need 20% down for a home loan or go subprime.

By: TeakWoodKite

TeakWoodKite — Sun, 30 Nov 2008 19:28:23 +0000

From: Window Dressing Middle Management.

To; Window Dressers.

This Holiday season, it is crucial to provide the broke ass, foreclosed on, and all around deceived window shopping public, window displays that are of such a nature as to lull the dismayed and apathetic consumer in believing that the good times are going to roll!

The use of trillion dollar bailout should be shown as if Santa’s Life depended on it.
The use of ribbons and bows are permitted in any display but must conform to Kool-aid guidelines. All mannequins must have a halo as to remind the shopper of “The One”.

In the event that someone is caught shoplifting we must not arrest them and instead give them the “Meddle of Freedom” and a a door prize of 800 billion dollars with all gift taxes waved.

Remember, it up to you if wish to remain employed, here at the U.S. Treasury.

By: Ferd Berfle

Ferd Berfle — Sun, 30 Nov 2008 16:41:55 +0000

Bravo!

By: I'm a Linda too

I'm a Linda too — Sun, 30 Nov 2008 16:36:40 +0000

Yep, a pretty good look at O-shit!’s economic and domestic team. While we’re at it, it seems even though he’s going to have a couple of good key people, his advisers on foreign matters seem to fit here too, as we’ve seen by example in his poor response time with India. Even though these guys are your typical “middle management” that you can tell what their discussion was at their latest meeting, because they come running out spewing the talking points, I really thought they would have known when to apply that window dressing for show. I was wrong.

By: Tuppence411

Tuppence411 — Sun, 30 Nov 2008 15:35:44 +0000

Credit Default Swaps- insurance and “side bets” on bonds and securities. That’s the hot potato in the room at Treasury Paulson won’t let fall. Can’t afford to payout; but also can’t afford to default on the defaults. He just keeps it juggling in the air.

They don’t even have a firm estimate on exposure from Credit Default Swaps – between 55-77 Trillion. Yeah that’s a “T”. That’s the GNP of the world. AIG holds about half a trillion of it.
Bears Sterns had over a trillion. Lehman Brothers not so much, so they could go down.

http://www.moneymorning.com/2008/09/18/credit-default-swaps/

http://www.foxnews.com/wires/2008Oct21/0,4670,Meltdown101CreditDefaultSwaps,00.html

By: maq

maq — Sun, 30 Nov 2008 15:02:08 +0000

Well finally we know who collapsed the WTC. It was a practice run event, like a test, to implement the ECONOMIC COLLAPSE. The Democratic Party took down the US Treasury for political gain.

By: hootnannie

hootnannie — Sun, 30 Nov 2008 15:00:58 +0000

There is a pervasive problem that has infected this society–the attitude of doing whatever one has to do simply to get through the workday. And I know from past personal experience that the attitude is so ubiquitous that it’s a fool’s errand to attempt to fight it. Most people find themselves mowed under and going along with it, because struggling to rise above it is futile.
A co-worker of mine once filed for bankruptcy, but she wanted to keep paying her affordable mortgage. The mortgage company quit sending her statements, so she sent the usual payment, along with an explanatory letter each month, and also called the company asking for statements. She was told the statements would be forthcoming–three separate times, to no avail. She wrote the company twice, without results. Finally, she looked up the name and address of the CEO online, wrote him a letter, and within 2 weeks had a statement. I had a similar problem with a phone company when I wanted to drop a certain facet of the service, but it took only speaking with a supervisor to finally fix the problem. Now, I wonder if the workers who told us they would comply did not do so because they hadn’t been adequetely trained and didn’t know how to process our requests, whether they were overworked to distraction, or whether they didn’t give a hoot. But it seems certain to me that they didn’t give too much worry to having that job for long. I recently remortgaged my own house and was told so many contradictory things that it seems a wonder it went through! Now, whenever I speak with someone about my 401K, etc. I’m paranoid that I’m not receiving the correct info!
Now, what could be more get-through-todayish that NINJA loans where the lender gave no thought to income or job or lack of same? Both the lender and borrower knew that these chickens would come home to roost, but the lender knew he could just sell off these iffy loans and be the hell out of it. I guess the borrowers weren’t thinking at all.

By: Sassy

Sassy — Sun, 30 Nov 2008 14:51:27 +0000

What this country needs is a new line of calculators!
Oh wait, they just elected one!

By: beebop

beebop — Sun, 30 Nov 2008 14:16:38 +0000

Just finished reading George Will’s column. He should keep his snoot out of politics and stay with economics. It is an excellent analysis of the current situation:

Bear Stearns? Broker a merger. Lehman Brothers? Death sentence. The $700 billion is for cleaning up toxic assets? Maybe not. Writes Russell Roberts of George Mason University:

“By acting without rhyme or reason, politicians have destroyed the rules of the game. There is no reason to invest, no reason to take risk, no reason to be prudent, no reason to look for buyers if your firm is failing. Everything is up in the air and as a result, the only prudent policy is to wait and see what the government will do next. The frenetic efforts of FDR had the same impact: Net investment was negative through much of the 1930s.”

Both Bush and 0bama in their haste to “do something” have/are sending such conflicting messages that capitalism is sitting on the sidelines. Unless and until the signals get straightened out, no one is going to put their money into investing again. Why should they?

By: wodiej

wodiej — Sun, 30 Nov 2008 13:53:37 +0000

To: All bailout beggars

From: The American taxpayer

Subject: Greed

The aforementioned is denied access to taxpayer capital in the form of taxes. We have found your business practices to be lacking in oversight, integrity and just plain honesty. We suggest a strong dose of accountability. Perhaps a little suffering will garner some much needed attention to your conscience.

The American Taxpayer

By: wodiej

wodiej — Sun, 30 Nov 2008 13:49:16 +0000

right on girl!!

By: wodiej

wodiej — Sun, 30 Nov 2008 13:48:22 +0000

agree w that too….

By: Ferd Berfle

Ferd Berfle — Sun, 30 Nov 2008 13:06:09 +0000

Oops! You’re right, I missed that one. LOL

By: Katmoon

Katmoon — Sun, 30 Nov 2008 13:02:43 +0000

Addendum to Memo:

Please attach the following invitation to your memo; we foresee a large group in attendance, and want to accommodate all of them.

Thank You,
The People

Attachment 1:

Bonjour Ma Petit Goinfres,

We would like to invite you to a luncheon in your honor. Attire is casual with the request of all attendees wearing tops ala, chemise à col ouvert.
The menu will be “Corneille”, followed by a lovely dessert of crotte stuffed petit fois. After dining each guest will be escorted for a private viewing of the new line of industrial cleavers being offered this holiday season, by Ginsu.
We, the people, your hosts require your R.S.V.P. ; Which can be simply indicated by your signature on the line marked ne’gligent.

Au Revoir, Miscreants,

Signed,

We, The People