Sidestepping? Sidestepping Is Cool!

(3 pm. – promoted by ek hornbeck)

Sidestepping kind of reminds me of, of, of, ummmmm, lemme think here, uhhhhh…

Signing statements!

In eleven fuckin’ dimensions, no less!

ek reports today in his Weekend News Digest that the:

Administration Seeks an Out On Bailout Rules for Firms

Officials Worry Constraints Set by Congress Deter Participation

By Amit R. Paley and David Cho

Washington Post Staff Writers

Saturday, April 4, 2009; Page A01

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.

I take it that:

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow [enormous multmillion dollar payouts to their criminal friends on Wall Street to] avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that [enormous multmillion dollar payouts to their criminal friends on Wall Street are] vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.

How many of those bankers meeting with Obama the other day looked at each other after he said that “My administration … is the only thing between you and the pitchforks“, and then turned back to Obama and replied with something like:

Thanks Buddy, for being on our side and covering our asses! What a guy!



20 comments

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    • Edger on April 4, 2009 at 11:48 pm
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    • Edger on April 5, 2009 at 12:07 am
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    dkos as You Have To be Asleep To Believe It.

    • RiaD on April 5, 2009 at 12:10 am

    • Viet71 on April 5, 2009 at 12:54 am

    Get the sense that during the late 1960s, you would have been a writer for Rowan and Martin.

    I would have been a member of the Weather Underground, except I wasn’t.

    • dkmich on April 5, 2009 at 4:46 pm

    Do you know what year it was?  

    • ANKOSS on April 5, 2009 at 10:00 pm

    Obama is going to send some sternly worded letters to the bankers. In his next million dollar book deal, Obama will explain how he made the bankers feel very bad about crashing the economy. He will reveal that he frowned at them repeatedly and refused to send them holiday cards from the White House. This administration means business!

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