Tar Heels a Much Better Bet Than Those Tarp Heels?
POTUS B-Ball Lesson for Bail-out: Dribble Before You Shoot
Your in Good Hands with AIG: ( Bama's Got Good Hands Too)
Don't get me wrong-- I really love this guy Obama and think we have the best possible man for the most impossible job at the worst moment in the history of the universe. But we're starting to throw around some really big numbers here if you haven't noticed. We're kinda betting the ranch throwing stuff up against the Wall (Street) that really doesn't like surprises. OK, let's just buy $300 billion of long-bonds and drive the rate down by 40 basis points-- then let's just see what happens! So what if the dollar craters? Where are all these investors gonna go? Pesos? I don't think so. (I happen to personally like this idea of buying long bonds but then I again I am also a proponent of negative nominal interest rates: treasury bills at should be -2% would suit me just fine).
But here's the problem. Obama is out being Obama which he is really good at. Town Halls, Leno, Tar Heels boosterism, making publishing deals today for his post-presidency treasure trove. Doesn't feel right. Where's the angst? He should be working 15 hours a day like Geitner who can't seem to hire anyone to help him so he tries to do it all himself. Stickman to Geitner: Get some help buddy. Call me I'm available and for you I am free not even a dollar a year.
And maybe the Prez could have spent a little less face time on the media circuit and actually stayed at home and become the first person in Washington to have actually read the stimulus bill in part let alone its entirety. Sure $165 million in bonuses to AIG Financial Products retainees (wow, that sounds too much like detainees) is enough to make the water in a teapot boil without turning on the stove. But if we can't control a little $180 billion investment to bolster AIG how the hell are we going to deploy $3.6 trillion without a scandal a day? Splain it to me. Can't wait to see what the boys at DOT do with the TARP money, the TALP money , the SCALP moneyad naseum. Would love to see the advisory fees paid to Morgan Stanley and Wellington Captial and the like to manage these transactions let alone the legal bills to read the 4,000 pages of documents for each security.
If you ask me right now the country might be better off if the President rolled the dice and bet $3.6 trillion on the Tar Heels rather than betting $3.6 trillion on the Tarp Heels.