Press Secretary Gibbs said Friday that the White House is all about a private banking system BUT one senior administration official, while reiterating that line, seems to be trying to send Andrew Ross Sorkin a message. What is it girl? Rahm’s fallen down the well?
“We absolutely believe that our private banking system is best off being in private hands and we are trying our best to keep it that way,” said one senior administration official, who spoke on condition of anonymity. But, he continued, the government is already deeply involved in propping up the banking system and may have no choice.
Officials said they were bracing for the possibility of new problems that might indeed require the government to take a more aggressive stance.
“Given our involvement at this particular stage, there is an element, a possibility over time, that we will end up with some ownership of these institutions,” the official said. “This is really about aggressive anticipatory action. It is an acceptance that the future is uncertain, but that we can plan on a certain basis for it.”
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The market is down to 1997 levels. I was back in undergrad during 1997. On CNBC this morning they played Spice Girls’ “Tell Me What You Want” which was popular back then. In 1997, Monica Lewinsky was barely a glint in the eye of President Clinton (Note to President-keep your gnarly paws off of my girl Becky Quick!). The CRA (Community Reinvestment Act), anti-red lining laws were barely a year old. Was Obama a Community Organizer back then? I think OBL might have still been in Saudi Arabia back then? WOW! Does anyone else remember where they were 12 years ago?
If Lassie climbed into that well, Rahm would shank her in the throat for good measure.
“Gov Dipping Toe In Idea Of Nationalization?”
Gov playing “Just the tip” with nationalization?
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Yahoo or freeper spammer.
THE BAILOUT BOYS ARE BACK IN TOWN
(The Boys Are Back in Town, Thin Lizzy)
WilliamBanzai7
Singalong link: http://www.youtube.com/watch?v=1FmPhJkdTwU
Guess who just got back today?
Those wild-eyed Bailout Boys of AIG, GM and CITI that had been away
Havent changed, havent much new to say
But man, those cats can keep generating Billions and Billions of losses
They were asking if Uncle Sam is around
How his TARP wallet was, where he could be found
I told them he was hiding somewhere downtown
All the Wall Street bankers driving him crazy
The Bailout Boys are back in town…
The Bailout Boys are Back in town…
You know that Hank Greenberg used to dance a lot
Every day he’d be on the NYSE floor shaking what AIG got
Man when I tell you he was cool, he was red hot
I mean AIG was steaming
That night over at Vikram Pandit’s palace
Sandy Weil got up and slapped Chuck Prince’s face
Man we just fell about the place
That Chuck did’nt want to know, forget him
Friday night in Detroit theyll be dressed to kill
Down at dinos bar and grill
The drink will flow and blood will spill
If GM and the UAW boys want to fight, you’d better let them
That jukebox in the corner blasting out my favorite Banzai7 Bailout Song
The nights are getting warmer, it wont be long
It wont be long till the Bailout summer of 2009
Now that the Bailout Boys are here again
The Bailout Boys are back in town….
12 years ago I was good looking and bulletproof. Still had a glint in the eye and a head full of ideas. Was running 3 of my own tech-related companies at the age of 20. Them days were the best