Reason Morning Links: Obama in China, No Pants in Paris, Fed Failed With AIG

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  1. Inspector general says Fed, Geithner botched bailout negotiations with AIG.

    You call it botched. We call it fan-freakin-tastic!

  2. Inspector general says Fed, Geithner botched bailout negotiations with AIG.

    *makes “stunned disbelief” face*

  3. In 1969, amid a global movement towards gender equality, the Paris council asked the city’s police chief to bin the decree. His response was: “It is unwise to change texts which foreseen or unforeseen variations in fashion can return to the fore.”

    This dude clearly foresaw the rise of hipsterdom 40 years in the future. What a visionary.

  4. Herbert M. Allison, Jr., assistant Treasury secretary for financial stability, also wrote a response highlighting the dilemma that officials faced.

    “What must be remembered is that the decision by the government not to let AIG go bankrupt meant that AIG had to meet its contractual obligations,” Allison wrote. “The government could not unilaterally impose haircuts on creditors, and it would not have been appropriate for the government to pressure counterparties to accept haircuts by threatening to retaliate in some way through its regulator power.”

    He said the central lesson from the AIG episode is that the federal government needs power to wind down such complex, failing institutions in an orderly way in the future. The House and Senate are considering legislation to accomplish that goal.

    The federal government needs more power.

    I never saw that coming.

    1. “Allison wrote. “The government could not unilaterally impose haircuts on creditors, and it would not have been appropriate for the government to pressure counterparties to accept haircuts by threatening to retaliate in some way through its regulator power.””

      BULLSHIT!

  5. LOL, is anyone actually surprised at all by this? I mean really!

    RT
    http://www.online-privacy.at.tc

  6. So, have we had a thread on how terrible the Prisoner remake was?

    1. Oh god!!! That remake sucked hard. They should have thrown the resources behind a new season of Jericho. Those fools!

      1. Definitely. And Lennie James wouldn’t have been cringe worthy in another Jericho series.

        1. Hells yes! There’s supposed to be a movie to help seal up the storyline. Kinda the way Serenity was for Firefly.

    2. I missed it this weekend. So it sucked? I had hoped it might be okay. Not like the original, of course, but at least interesting. I mean, it has Ian McKellen and Jesus and all.

      1. Pro Lib,

        Magneto, Jesus, and a beachball are simply not enough to entertain the masses these days. Rome or Jericho dammit! We should have some sorta tv series bailout!

        1. Sucked that Rome was canceled. It took liberties with history at times but was entertaining.

          I’d like to start the Great Canceled TV Shows Network.

          1. Bailout, bro. Bailout.

          2. We already have it. It’s called CBS.

            1. I don’t see Firefly on CBS, dude.

              1. My bad. You said Great shows.

              2. Brotherben’s not a fan of Firefly though.

                1. I haven’t watched it . Have no opinion.

                  1. Then you need to watch it.

                    1. Firefly? Don’t do it ben. Contrary to all the info from HnR regulars, Firefly sucked.

                    2. See what I mean, ben?

                    3. meh. I expected as much from a buncha groupthinking Galtards.

                    4. Naga,

                      I don’t believe that’s your opinion.

          3. Rome ends with Antony’s death, right? Not a lot a drama left in the historical story after that, unless you jump forward 50 years or so.

            1. Judea dude. A lot of politics in there. Plus, Timon had already left for it before the end of the season.

              1. Taktix has pointed out to me that the failed attempt to colonise Briton also occured during that time period.

                1. The failed attempt was in Caesar’s time. The next attempt was by Claudius, which succeeded.

                  As for Judea, meh. The politics there also became really interesting much later, around the time of the Revolt.

                  Like I said, you have to jump forward at least 50 years for the good stuff.

                  1. Rome wasn’t known for historical continuity. A talented writer or two could just jump the accepted historical timeline.

                    1. Without Titus Pullo to bust some skulls? What’s the point?

                    2. I envision a cross-genre, time-bending, space-transcending buddy show featuring Titus Pullo and Jayne Cobb.

          4. Futurama is coming back, but Junkyard Wars seems to be gone forever….

  7. He said the central lesson from the AIG episode is that the federal government needs power to wind down such complex, failing institutions in an orderly way in the future.

    What, pray tell, is disorderly about bankruptcy? I am still befuddled by the claim we need a method other than bankruptcy to deal with the shutting down of large complex organizations. Anybody want to explain the justification to me?

    1. Bankruptcy involves important and politically connected people losing money. And that is just not acceptable.

  8. It just a really bad idea to try people whom you will not release no matter what the result of the trial and whom any court will bend whatever rules necessary to ensure a conviction. Bad cases make bad law is a cliche for a reason. When the appellate courts bend the rules and make bizzare distinctions and justifications for the use of government power to ensure that KSM is convicted, those cases are going to serve as precidents for all other criminal cases. Some day when the KSM rules are applied to some guy on a two bit federal charge, we will have Obama and all those who insisted on a trial in federal court to thank.

    1. Excellent points John. The legal precedents that may be set didn’t occur to me.

    2. Seems to me this is one of those situations where the answer has always been for the prisoner to be discovered hanging by his neck by his pajamas or to accidentally fall out of a helicopter.

      (For Lonewacko: That was an observation, not a policy recommendation.)

      1. If they can bbq children in Waco, I don’t see why they couldn’t have an ‘accidental’ fire at Guantanmo.

        Oops…a herd of wild pigs ran into the prison and then it burnt down. ‘We are so so sorry the Muslim terrorists and piggies got cooked together.’

        1. I think so to. Oh, we had a major security breach and before we could stop him, KSM opened the door on the plane and jumped out at 30,000 feet over the Atlantic. We deeply regret the incident. I mean seriously, if only the government were as evil and effective as the conspiracy theorists think it is. It would come in handy sometimes.

    3. Seems to me this is one of those situations where the answer has always been for the prisoner to be discovered hanging by his neck by his pajamas or to accidentally fall out of a helicopter.

      (For Lonewacko: That was an observation, not a policy recommendation.)

    4. excellent points. Much of “the law” is based on appellate courts making bad decisions because they don’t like the results if they follow the law. I remember studying constructive possession…. or as I call it: make believe possession or Santa Claus possession. The court couldn’t prove the drugs in the car were this one particular individuals, they invented Santa Claus possession so they could convict the guy. And there all sorts of other “constructive” concepts. And when I see that, I think, “god, you judges really are a bunch of cowards.”

  9. It sure as hell wasn’t Mad Men.

  10. In response to dbcooper @ 9:38.

  11. I didn’t watch it. It was really that bad? What a shame.

  12. “how terrible the Prisoner remake was?”
    Really? I was hoping for good, or at least not terrible, things.

  13. have we had a thread on how terrible the Prisoner remake was?

    To be honest, I’m probably not qualified to comment. It put me to sleep before I could even change the channel.

  14. New York Gov. David Paterson blasts Obama plan to try terror suspects in New York City.

    Paterson is a teabagging Racist!

    1. Patterson is great, as far as democratic governors go. It takes a blind man to see the truth so clearly!

      1. He’s deeply unpopular. He must be doing something right.

    2. At least he has a job.

  15. “..we will have Obama and all those who insisted on a trial in federal court to thank.”
    What about those who insist on, you know, a FAIR trial?

  16. Metacritic score of 46. Pretty much everything about it was bad IMO. Casting especially, and it was just really dull.

  17. But the Prisoner had Gandalf in it, and Jesus.

    You are a feckle bunch!

    But then I liked the acting by the pothole in the Geico ad.

    1. The pothole’s voice makes me giggle like a schoolgirl.

      1. Yeah, me too.

        1. I think it’s the voice of a comedianne, I’ve seen on the Comedy Channel. Blonde and funny IIRC.

  18. I notice a significant drop in threaded comments. Is spontaneous order taking hold?

  19. Women still prohibited from wearing pants in Paris.

    But the men don’t care ’cause they wear no underwear!

    1. Can’t believe I got to post that first.

    2. It is to spare us from seeing the hair braided down their legs.

  20. Until brotherb came along and fucked it up.

  21. Obama’s adviser for Asia, Jeff Bader, … says the U.S. case is helped when the “salesman” is as persuasive as Obama.

    Maybe the salesman’s job approval rating is higher in China?

    1. she hunted down the shirt after hearing they had been banned amid fears they “may offend the American president.”

      You can’t fool me — this is from The Onion!

  22. That pothole is Sir John Gielgud, compared to the other thing.

  23. Until brotherb came along and fucked it up.

    Look at the time stamps there slick. John came first. I was actually third.

    Are we boycotting again?

  24. Spontaneous DISorder.

  25. “CNN Reporter detained in Shanghai over Obama-Mao T-shirt.”

    Good thing it wasn’t Phil Silvers on that shirt.

    1. WOW! I remember that from when it was new. Thanks for the link and reminder.

  26. “..we will have Obama and all those who insisted on a trial in federal court to thank.”
    What about those who insist on, you know, a FAIR trial?”

    I don’t think he can get a “fair trial” at this point. He is too dangerous, too notorious and the consiquences of releasing him too high. We have already said, he will not be released even if he is aquited. How is that a “fair trial”? It is not. The circumstances prevent it from being possible. So what do you do? You treat KSM and his case like a virus. And you remove from your justice system to keep it from infecting other cases.

  27. “You treat KSM and his case like a virus.”
    And why would that, too, not be an abuseable precedent?

    1. No. It is an exectutive decision, not a court decision. If he is never on US soil and never tried in a US Court nothing that happens there effects other US Courts. Military tribunals are very good at handling these kinds of cases without setting lousy precidents that can then be applied to ordinary cases. In ordinary cases, procedure is an end in itself. You are willing to let guilty people go free to protect the procedure. In a case like KSM, who is a foreigner who waged war against the US from foreign soil and killed 1000s, you are not willing to let a guilty person go to protect procedure. That is why it doesn’t belong in federal court.

  28. What does Obama have to say to China about human rights? I mean, they already have universal health care, don’t they? That’s the most important human right of all, ’cause the freedom to speak out against those who rule you is nothing compared to the freedom from having to pay for your own medicine.

    1. They also rounded up a bunch of dissidents in preperation for his visit. If Obama actually cared about human rights and was anything but a dickless wonder, he would have threatened to cancel his trip if the dissedents were not released. My God, how do you go to sleep at night knowing people got thrown in a Chinese prison because of your trip?

      1. I don’t see how a conuntry with the higest prison population in the world can preach to anyone about freedom. And whenever the president comes through, they round up people. I remember reading stories about president coming close by and they go round up roustabouts for a couple of days.

        1. Links? I have never heard of them rounding people up like that. They probably do run off the homeless people, but that is not quite the same as arresting political disidents. This is like if they arrested a few prominent Republicans in town whenever Obama comes to visit.

          1. Give it time, John, give it time.

          2. sorry, I don’t have links.

            1. like I said, I wouldn’t be surprised if some idiot mayor runs off the homeless before a big visit.

          3. That does happen! It’s all part of the NEW WORLD ORDER plan. The federal government imprisons Republicans for a few days at a time and douses them with chemicals which keep their brains dull and unable to conceptualize the truth of the TIMECUBE, of the four-sided earths. Some of the Republicans are ground up and dispersed in the air with the rest of the chemtrails!

            1. Oh shit, not again 🙂

      2. “””If Obama actually cared about human rights and was anything but a dickless wonder, he would have threatened to cancel his trip if the dissedents were not released.”””

        We haven’t really cared about their human rights record ever since they flooded us with cheap goods. It hasn’t been a real issue since the boon of WalMart.

    2. Nope. Here you gotta pay for every procedure in advance before they start working on you. If you’re hit by a car and lying for dead in the street you better hope you’ve got a relative’s number on you and that relative can come to the hospital quick with cash or they’ll just let you die.

      1. Reall? I am not surprised. Has anyone told Thomas Friedman about this? You know he loves the way the CHICOMS get things done.

  29. Will our new health care plan include powered tiger penis for all?

    1. If so, that will help Bob Dole tow the lion.

    2. Does it whir or roar?

  30. Will our new health care plan include powered tiger penis for all?

    You’re into the kinky stuff eh?

  31. In a letter commenting on Barofsky’s report, Fed officials called the original AIG loan “appropriate in light of the circumstances at the time.”

    Uh huh. Any details on just *how* it was “appropriate”?

    H.R.1207, where are you?

  32. CN,

    Yes, it is covered under the mandatory organic and alternative medicine coverage provision. I believe it is in the “organic viagra” subsection next to the babby seal blubber and powdered black rino horn coverage.

  33. Will our new health care plan include powered tiger penis for all?

    If it does, it will have to include carbon offsets.

  34. “You’re into the kinky stuff eh?”

    Well, I mean without the batteries, what’s the point?

  35. lol

    Was the part about “fundamental human rights” the part that the ChiComs censored? I wonder if the students “disappeared” after hearing this speech…

  36. The abortion measure in House health care bill will affect precisely zero women. That’s the point of the abortion measure in the House bill.

    Zero women had abortions paid by the federal government before the bill and zero women will have their abortions paid by the federal government after the bill.

    Oh, and the no trousers law is the most awesome thing I’ve heard in quite a while.

  37. Sales tax on medical MJ in Colorado here .

  38. Sorry, I don’t have links.

  39. So do people hate “The Prisoner” remake because it’s not like the original? I only remember bits and pieces of the original so I don’t have much to compare it too.

    I’ve seen the first few episodes of the remake. I found it interesting and I liked some of the strange visuals and general oddness, beachballs and all. Admittedly none of it may add up to anything but I have been intrigued by the premise so far.

  40. It’s boring. It pains me to point this out but Michael Bay should have setup a few ‘splosions to set the mood of the series. I stopped watching a few minutes after the diner exploded.

    1. “To set up” is the verb. “setup” is a noun.

    2. What? No awesome kitty cat’s or barbecue?

  41. ‘The abortion measure in House health care bill will affect precisely zero women. That’s the point of the abortion measure in the House bill.

    ‘Zero women had abortions paid by the federal government before the bill and zero women will have their abortions paid by the federal government after the bill.’

    Technically, Stupak-Pitts (like the Hyde Amendment whose policy it embodies) allows federal support for abortion in cases of rape, incest or to save the mother’s life. That’s about 1% of abortions at most. The other 99% – known as ‘elective abortions’ – will not get any federal tax money.

    Otherwise, yes I agree, Stupak-Pitts sets no new federal policy, it simply continues the policy of the Hyde Amendment.

  42. Otherwise, yes I agree, Stupak-Pitts sets no new federal policy, it simply continues the policy of the Hyde Amendment.

    I’m not so sure. Stupak may be an extension of Hyde, to prohibit any private insurance policy paid for with subsidies from covering abortion, rather than just prohibiting the feds from paying for abortion directly.

  43. The linked article suggested that Stupak-Pitts, if included in an enacted health bill, would have limited effect, with the ‘sufferers’ being:

    -Women who can’t scrape up (so to speak) $400 for a first-trimester abortion, and

    -Women who want to get 2nd or 3rd trimester abortions, specifically including abortions based on some disabling condition of the unborn child (the article assures us that 2nd and 3rd term abortions are only 1% of abortions).

    So, some number of poor women will be having their children rather than killing them, and will either put the children up for adoption or raise them alone.

    (There is a lot of demand from would-be adoptive parents, which so far has not been matched by adoptive mothers – but the adoption option should be mentioned in response to the ‘you would have these women raise the child alone’ arguments).

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