READER COMMENTS ON

"All of Microsoft for a Buck"

(24 Responses so far...)





COMMENT #1 [Permalink]

... Robert said on 9/25/2008 @ 11:14 pm PT...





Thanks for posting this Brad. Forwarding to everyone I think could help get it taken up on high. Just as with the Patriot act this was all planned out in advance, and is part of the reason for all of the rush.

Rob

COMMENT #2 [Permalink]

... Phil said on 9/25/2008 @ 11:37 pm PT...





A sustained orgy of excess and reckless behavior that neither The Fed nor Congress has been willing to address. Again, for the peanut gallery: 1. Level III assets must be fully disclosed along with all formula and models for their marks, quarterly, in the 10Q/10K.

2. Derivatives must all be moved to a regulated exchange with a central counterparty to guarantee margin supervision. No exceptions.

3. Leverage must be reduced to no more than 12:1 across the system. No exceptions. The right thing is to address the root cause of the problem as identified in the three points above, then for any firm that cannot make it on their own, force it through involuntary receivership and execute the conversion of debt (bondholder stakes) to equity. Fuck Half-Measures . Do The Right Thing SENATORS!

COMMENT #3 [Permalink]

... TEDEGER said on 9/26/2008 @ 4:50 am PT...





It is high time to enact LaRouche's Home Owners and Bank Protection Act, as desired by the Legislatures of a number of States. The HBPA will do EVERYTHING to save the economy that the bailout would allegedly do, and be a whole Hell of a lot less expensive and dangerous!

COMMENT #4 [Permalink]

... Bamboo Harvester said on 9/26/2008 @ 9:17 am PT...





The Boy bush, repulicans Who Cried Wolf . . .

COMMENT #5 [Permalink]

... Ancient said on 9/26/2008 @ 9:45 am PT...





Boy John, I sure hope congresscritters read this article before passing anything! Thanks.

I'd also suggest these videos from commenters #21 Rayne and #23 Leen at emptywheel's post McCain Out-Hoovers Hoover:

http://emptywheel.firedoglake.com/

As always, all the posts and comments are great too! #21 http://www.youtube.com/watch?v=GMo7T9t0Gzk #23 http://www.youtube.com/watch?v=9dY4WlxO6i0 Again, I assert one of the surest ways to get our country back is to strip corporations from having the rights of indiviuals. Profit and domination is their bottom line, not the welfare of humanity. War and global warming anyone?

I'm not saying all corporations are bad, but given human nature we have to use laws to curb its temptation to excess. CORPORATIONS ARE NOT HUMANBEINGS, limit that legally! As far as the meltdown, I think the new proposed plan is a starting point to stabilize the markets, but congress has to maintain oversight and ultimate control and use the money in increments to be paid back. I like the idea of the public maintaining a portion of ownership in the investment banks, maybe finally a say in steering investments for public good instead of just elite greed. Homeowner bankruptcy laws need addressed, and congress needs to remain flexible in addressing further uncovered problems and crimes and not allow itself to be rushed.

Screw emperor paulson's proposal and mcsame's hypocracy.

COMMENT #6 [Permalink]

... Joan said on 9/26/2008 @ 10:05 am PT...





Um...99, you there? I need another pre-school lesson..this time in how to include an image in a comment. (I'll put an apple on yer desk?) [Much as I'd love the apple, I think you better ask Brad for that. He does it once in a while, but I don't think we want to encourage that action since it costs so much broadband. I'll ask him for you. love, 99]

COMMENT #7 [Permalink]

... Paul Lehto said on 9/26/2008 @ 10:36 am PT...





Grossly invalid actions and procedures are VOID AND OF NO FORCE AND EFFECT. That would be the fate, no doubt, of any such Microsoft scenario. But, this hypothetical illustrates the dangerous sweep of the law, nonetheless, which is a good thing. You can get around the usual bars to lawsuit in this way, usually, in an analogous way to which one can escape an otherwise binding contract via unconscionability (and lack of congressional intent to make a taking of the stock of every MS shareholder) Patently unconstitutional. But now, if the shoe is on the other foot, its doubtful even with the best of arguments if the little guys, similarly stripped of fundamental rights, would get relief from ANY court ANY where. Somehow, when the big boys hired by the corporations from the big law firms show up with a gaggle of supporting attorneys, judges perk up and listen more closely to the case, in my observation. Conversely, if one is representing oneself pro se, most judges try hard but it is difficult to get the same level of quality out of the judge when pro se, for one the judge has to work much harder to get to the crux of the issue without good lawyers on both sides.

COMMENT #8 [Permalink]

... Alex said on 9/26/2008 @ 12:22 pm PT...





Under these rules what is to stop the Treasury Secretary from using some of his $700B to game the market. Buy up a bunch of shares (that his friends or family have been told to buy ahead of time) or any other tradable item, and drive up the price. He would be using taxpayer dollars to enrich himself, his friends and family, and he can't be sued or indicted for insider trading.

Putting so much financial power into one person's hands is not only anti-free market, but by making the Treasury Secretary above the law, you are making him/her a financial king. A lot of economic damage to publically traded companies can be done in four years. The Treasury Secretary's job would be the most sought after job in the cabinet (by the most ruthless and greedy individuals in the country). If these kinds of powers are needed (which I doubt), then there should be a sunset clause where he would have to go back to Congress and get renewed powers. Limit the powers so that after the "crisis" is over we no longer have a financial king.

COMMENT #9 [Permalink]

... S Fritsch said on 9/26/2008 @ 1:26 pm PT...





STOP THIS MADNESS!

This crisis is fake. The only people we are bailing out with this $700B is the crooks. Take out these people and freeze their accounts, all of them. I think you will find $1,000T or more sitting in off shore accounts. Enough is enough

COMMENT #10 [Permalink]

... John Washburn said on 9/26/2008 @ 1:59 pm PT...





Grossly invalid actions and procedures are VOID AND OF NO FORCE AND EFFECT. That would be the fate, no doubt, of any such Microsoft scenario. True, but only if

1) the courts agree to take the case

2) rule against the motion for summary dismissal under section 8

3) AFTER the confiscation has occurred. The establishment clause of Article III section 1 grants Congress the power to limit jurisdiction of courts inferior to the SCOTUS. The no review clause of section 8 applies to district and appellate courts. Thus, you will need a dismissal in federal district court, lose the appeal in federal circuit court, and be granted certiorari, before the section 8 Congressional limitation on review is finally before the SCOTUS to which that limitation in jurisdiction does not apply.

COMMENT #11 [Permalink]

... Ancient said on 9/27/2008 @ 8:42 am PT...





Hey, here's a thought. How about to make this the last bailout of the criminals we demand that the federal reserve is phased out so we can finally have an economy based on a real balanced budget?

COMMENT #12 [Permalink]

... Ancient said on 9/27/2008 @ 9:12 am PT...





As to my post above, this will finally put America on a good karmic path. Money is a form of energy and all energy exchanges should be even. By balancing our own books we can finally afford to become the America most of us have been waiting for and believe in, the true gold star example of democracy with liberty and justice for all.

COMMENT #13 [Permalink]

... Joan said on 9/27/2008 @ 8:46 pm PT...





Re #6,

Oh gosh, I didn't realize it might be a problem. I'm loathe to admit it, but I don't even know what broadband is (sigh of shame).

I'll send it to Brad & let him decide. Thanks, yet again! (will sit on stool in corner with my duncecap)

COMMENT #14 [Permalink]

... Agent 99 said on 9/27/2008 @ 9:16 pm PT...





No. Well, I musta been low on coffee or something because I did not mean "broadband". I meant "bandwidth". It's all cyber hocus pocus. Nobody knows what it is. They just charge for it. I emailed you something to try, but if you don't know from sizing of pictures, it's going to be involved. You can send it to me if you want and I will see if I can make it happen.

COMMENT #15 [Permalink]

... Joan said on 9/28/2008 @ 5:37 pm PT...





Re #s6,13&14...

Goodness, 99, you & Brad should send me a bill at this point. (although really I just wanted the both of ya to quit lying around eating bonbons & watching the soaps all day)

I LOVE this crazy picture that it only took me two days to post...though Ha! it might be a bit of an anti-climax after all this. Thanks to a little lesson in HTML code from my daughter's very patient swain, here tis, finally... Well, we know who the frog is (us). The bat's... I dunno...our crazed guvmint? life? that insatiable one percent? the universe? Larry Craig?

The size seemed ok...I HOPE it's not too big, after all your help. If it IS let me know & I'll dig out the dunce cap again!

COMMENT #16 [Permalink]

... Joan said on 9/28/2008 @ 5:42 pm PT...





Oh dear god how colossally humiliating. Alright, excuse me while I go consult with the karma gods & find out why I've incurred their wrath.

COMMENT #17 [Permalink]

... Agent 99 said on 9/28/2008 @ 6:55 pm PT...





Okay. The picture has to be uploaded to a linkable page to begin with and then you have to put the URL for that in the code, and then you have to make sure that the code is IN the comment box with your comment. I just looked at your #15 and there was no code in it... unless Brad or someone took it out due to some malfunction. ??????

COMMENT #18 [Permalink]

... Ancient said on 9/30/2008 @ 5:51 am PT...





I never thought I'd say this, but I'm with the repugs on their vote because dems didn't do what they should have in this bill. http://www.democracynow....e_united_states_congress

COMMENT #19 [Permalink]

... Ancient said on 9/30/2008 @ 6:16 am PT...





Here's another good article on the subject: http://www.ourfuture.org...sons-700-billion-bailout Now dems, see it's not so hard to admit when your wrong!

COMMENT #20 [Permalink]

... Ancient said on 9/30/2008 @ 7:06 am PT...





Let them go kicking and screaming. Here's a better plan to consider: http://firedoglake.com/2...eres-how-to-do-it-right/

COMMENT #21 [Permalink]

... Ancient said on 9/30/2008 @ 7:12 am PT...





One thing I might add is reinstate Steagal Glass law getting rid of the deregulation rip off laws.

COMMENT #22 [Permalink]

... Joan said on 9/30/2008 @ 12:29 pm PT...





Re #17,

Yeah, that's what my daughter's friend tried to teach me & I thought I'd done exactly that---the image did show in the preview box & the kids ASSURED me that, ergo, it had to post!

(oh, how they toy with me)

Either they taught me wrong, I did it wrong, it was deleted, or it was one of those Vincent Vega/Jules Winnfield type of Divine Interventions.

I mean, hey, one of the cyber-gods decided it just wasn't a worthy enough depiction of the current god-awful-nuts David & Goliath situation we're in & I needed to shut up about it lol! (it is tho)

COMMENT #23 [Permalink]

... Agent 99 said on 9/30/2008 @ 12:43 pm PT...





I think you should just email it to Brad... see if you can't get him to post it for you. Bat yer eyelashes, make him feel manly... the full monte.

COMMENT #24 [Permalink]

... Zohan said on 10/2/2008 @ 2:22 am PT...

