Quotes Entirely Relevant to Investing 09-21-2008
by Mr JugglesDecisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
-The Bailout Proposal
Can we still short the treasury or is that considered a bank now too and on the *%@#$ no short list?
To put that $700b in context:
“Sec. 10. Increase in Statutory Limit on the Public Debt.
Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.”
The “limit” was $10,615,000,000,000 before the proposal.
It’s like this one time, when I was limiting myself to 12 beers per week, but I found that by Wednesday I’d already had 10, so I upped the limit to 24.
yah, um….Hank can dream and he can up his booze allowance and all, but somebody ought to snap him out of his drunken stupor and inform him this here is not a monarchy. He can pretend that there’s no constitution but the supreme court is laughing its ass off at the “may not be reviewed by any court of law or any administrative agency.” bit.
I’m thinking the fine old justices will declare this whole shebang unconstitutional just as payback for slipping in that little turd.
After the monopoly of the Fed being the only unreviewable agency which has access to very much money we’re giving the same right now to the Treasury. Finally – that will guarantee some competition
“It’s good to be king!” – Mel Brooks, History of the World pt.2
Bite me…
I remember back in highschool I tried attaching a similar clause on a cover sheet to an english paper, something along the lines of what The Hank (as he shall henceforth be called) is trying to get away with.
Far as I can remember it didn’t exactly work out quite as I had planned, much to my chagrin…
How long do you suppose it’ll take Hammering Stammering Hank to spit out the word “chagrin”?
Let’s not forget the $58,000,000,000,000 in off-balance sheet liabilities of social security and medicare that puts the U.S. Gov’t at a leverage multiple of 5.5x or similar to a B rate high yield credit.
It may be time for the rest of the world to come up with a “Brady Bond” package for “Uncle Sam” while this “Banana Boat Republic” is still marginally afloat!
@ Size
I’m laughing too hard to type (or something)
Not sure if anyone’s pointed it out yet, butt all we hafta do is apply a lil Zimbabwenomics to this ABS and poof! Gone, dunzo, outa here in 30 minutes, tops.