Showing posts with label bailout. Show all posts
Showing posts with label bailout. Show all posts

Monday, April 20, 2009

Obama’s Recovery: Partners or Predators?


Is the President playing “Go Fish” or Chess?

Teaching neo-cons that there can more on the table besides a “carrot or a stick.” 86

Americans listened, considered and agreed with the propositions for national recovery presented in the Obama campaign. If there were any confusion, we may now conclude it arose from the painstaking media grooming of its implied image of the depth and severity of the economic looting done under the cover of the Bush autocracy. Over the decades of “conservative” administrations such as Reagan or the senior Bush, we have grown passively accepting of a routine corruption which had been presented as an "acceptable" and entirely "American," neo-con "leadership" principle.

It has gone even further than that.

We have accepted these gradually growing insults piece meal (Remember the frog who jumps from the boiling water, but remains, comfortably, in the slowly warming, tepid pan?” Yum. Boiled frog.) Americans have slowly and patiently been convinced that a great number of reactionary, neo-con principles are American values or, even, make sense.. For example, in the past couple of weeks from this writing, an “American flag” ship was “piratized” off the coast of Somalia. Its legitimate and honorable “mission” there was the delivery of urgently needed humanitarian supplies to our national friends in Kenya.

But wait.

The reason that ship was flying an American flag -- it had been temporarily renamed after the State of Alabama -- was thanks to a UN ruling. For some reason, the goods of our well intentioned altruism had to be purchased in the US at a price eight times higher than the same commodities could be purchased in the region. For some reason, those commodities had to be transported in an “American flag” ship which plied the waters of the Middle East at eight times the cost of a local alternative.

For some reason? For what reason? The neo-cons have successfully imposed their idea that any good act should begin with a good profit.

The same things happen everywhere. The Indians were persuaded to quit producing generic AIDS drugs, making the Bush Altruism Initiative of aiding African states with that disease one which purchased only “full priced,” first line, American made pharmaceuticals for the effort. Coupled with the irrational neo-con -- and now, Papal -- condemnation of prophylactic supply, promotion and use, the pharmaceutical model of “altruistic” profitability was realized, lubricated and firmly saddled astride vacuous, failed premises of abstinence and other convenient, recent appliances of the prevailing mythology.

These points are presented as example of our amazing, well developed idea that men cannot do good for any reason if it excludes profit. The possibility of assistance, altruism or even cooperation must always be offered in conjunction with an appealing, “oh, by the way,” kind of suddenly and innocently discovered profit.

With this brief account of fundamental neo-con psychology, let us move on the matter of the stimulus and its unwilling participants -- partners and predators.

Why are these participants unwilling and why are these participants, well, even participants in the first place?

First, who are they? The list can easily be extracted from the tedious, frustrating denizens of the current news cycle. There were bankers who got money to make loans and then didn’t make loans. There were health care HMO’s who received an invitation to change their ways, then didn’t change their ways. There were car company executives who were told to rationally reorganize themselves who then proposed “changes” which guaranteed the continuation of their same ruthlessly destructive past policies. There were pharmaceutical companies who were told to release their legislatively protected extortion-strangle-hold on the medical franchise. There were Wall Street “hedge hogs,” oil speculators and investment bankers who were told that they had to “take a hit” on their inflated, imaginary profit and loss statements, who, instead, scrambled around to move their imaginary “profits” off shore so they could pay all of their attention to the looting of the stimulus money (“stay the course,” “cut the taxes,” “make me whole,” et cetera).

All of them were train wreck remnants of the “If anything good is going to happen, it is going to happen to me!” greed ideology of the past. Their obsession of the moment is an arrogant example of their hubris, that is, their absolute rejection of the new “change” and “cooperate” theme of the Obama administration -- and the electorate which created it. Naturally, the first step for these brain dead felons was to purchase some Senators, which they did. By the way, some of our Senators are simply too frightened or honorable to enlist in this outrage. It seems that the real bargains in the Senate are the bourbon drenched neo-con bigots -- hillbillies with an ill advised continuing allegiance to the previous regime of Bush protected avarice.

All these folks seriously believe that what is happening to us right now is nothing more than a current model of what has happened to us in the past. Although this may be more exciting than usual to these “geniuses of capitalism” who are managing the pharmaceutical, banking, health care and other no bid contracting interests, they remain convinced that Obama’s efforts to rescue our economy present nothing new, that is, simply more of the same opportunities which have served their historical extraction practices in the past. They expect and intend to emerge from this “difficulty of the masses” with even fatter pockets and the “ownership deeds” to even more Senators.

Did we ever imagine what feelings a vampire might experience after he sucked the blood from the last living human? In this case, he would convince himself that his last victim was actually not the last living human and fly off gleefully in search of his next prey.

Obama’s proffered gambit was simple enough. “Stop exploiting our economy. It cannot survive any more of your pretend version of free marketism. All of you parasites have done unacceptably well for yourselves at the expense of everyone else, and now, the 'everyone else' is staggering along, near death, as you contemplate your schemes to extract even more from the ambulance staff which has come to rescue them.”

He has asked the bankers to take his bail out money and change their ways, take a few risks for the good of the country (for them, country = their personal finances). Instead, they have been shopping to purchase each other in the hour of peril while sitting on their bulging coffers of bail out money. He has asked the health care moguls to reconfigure their extortion to include the interest of those in the electorate who might need a doctor. Instead, those same moguls have redirected all their discretionary profits to an ad campaign to wreck his Presidency.

Obama has asked the executives of GM and Chrysler to “bleed a little” and reconfigure their business plans to something remotely rational. Instead, they have collapsed to their road weary, inflammatory “swan song” of blaming the unions for everything. He has asked the Senators to, provocatively to them, think of the good of the country instead of their “astonishingly beneficent campaign contributions.” Instead, they -- along with their neo-con progeny in the House -- have marched lockstep in a dismal phalanx of denial and greed all the while hoping in their wet dreams for Obama's failure and destruction.

Does all this describe a foolish failure of a pollyanna in the White House? Has the new President continued to “walk into the props” of a superior neo-con meat grinder whose sole claim to fame is more experience at cynicism?

Maybe not.

Who is ready to characterize Obama’s rather formidable capacity for effective political strategy based on such a short sighted view of his leadership path as it has emerged thus far? If you have this inclination, perhaps you should consider lowering your voice for a few months. If you think his embarrassing rejection at the hands of the so-called House Republicans signifies evidence of a lethal miscalculation in his political tactics, perhaps you should wait for the next act in this play.

Still, it seems that every ambitiously honorable attempt by this White House has ended poorly, that is, all the entreaties “across the aisle” have resulted in another of his restorative plans being dragged behind the truck of guffawing and boisterously emboldened, medievalist Republicans and other corporate schemers. The “Fox Conclusion?” The President is, aside from being a socialist, fascist, traitor, Muslim, gun controlling, international relations appeasing, abortion financing, gay black man, a ninny. The Foxites believe that they have prevailed. The tea baggers think that their frenzied message, whatever it was, is compelling, that is, has gained traction. The bankers think that they will be vindicated in the future, elevated by their tenacious grip on their publicly financed “McDuck Money Bins” and their complete refusal to participate in the resurrection of the economy or the country, now in a mortal, death grip peril. The AIG boys assume that tax payers won’t remember paying the cash for the outrage of their bonuses.

On the other hand, we can create this model in another frame entirely.

Obama entered his position of power with ambitions to reconfigure the economy (and a long list of other things, too) in a way that would redirect some of America’s prosperity back to those who have patiently provided the resources which support it. He knew, even before his inauguration, that those who had developed a criminal “nutrition” requirement of vast tax money in their pockets would react violently to retain their previous parasitic advantages.

They have. Just listen to them. Today, their lies could be baled like hay at harvest time.

Perhaps President Obama, not really stranded and bewildered on a side track after the neo-cons so arrogantly humiliated his efforts at reconciliation, is actually right on target. These practiced criminals have invested very heavily in their program of promoting themselves as honest “partners” in the rescue effort while disguising their more factual qualities as looters and criminals, that is, “predators,” hiding in wait to loot the life blood from the stimulus money.

Money we have paid and allocated to trying to restore the damage of their past looting.

Obama could have swung the massive hammer of electoral outrage in the first few minutes of his administration in a sweeping correction -- think of it as chasing the money lenders from the temple if that analogy is not too messianic. However, if he had taken this approach, the validity of his plan would have been supported only be his claims of its necessity. In the minds of Americans there would have remained the question: “Are these wounded victims of his really this criminal? Do they really place the prosperity and safety of our country in such a low position of importance compared to their continued wealth extraction?”

No. Obama has let these “bottom feeders,” perhaps emboldened by the likes of Carl Rove, Joe the Plumber, Sara Palin, AIG, Wall Street, Newt Gringrich and other “tea-bagger-wanna-be’s” -- well, you are familiar enough with the pathetic denizens of this long list, emerge into the light. He has allowed them to “show their true colors,” their traitorous lack of commitment to the national survival driven by a narcotic, decades long habit of successful greed.

If we were describing a “trial” of this past behavior of his now screaming critics, what we have seen so far would be the “discovery phase.” The character of these criminals had to be exposed, finally revealed to their victims, in this case the American tax paying electorate. Obama has presented the evidence we lacked before, and that evidence seems quite capable of penetrating the thrall of the controlled media’s past efforts to keep us hypnotized.

No one believes he has cock roaches until they reveal themselves in the light.

Remain calm and hopeful. All this had to happen first. The crimes had to be exposed and defined. Our national situation is, most likely, going to collapse to a truly desperate state as 2009 proceeds. We taxpayers and voters will be confronted with Obama’s compelling evidence as he ultimately makes his case for change. That will bring us to our trial’s “sentencing phase.”

To think that the foundering mess we see at this moment is a truly representative preview of that probably means that we are slowly loosing our collective hope. If any of us has decided to take that path, take it without me.

For the "media view" of the economic recovery plan,

http://cbs5.com/campaign08/obama.economic.recovery.2.904768.html

and a background look at some of the criticism of the recovery plan:

http://www.pbs.org/newshour/updates/white_house/jan-june09/obama_03-24.html
http://www.newsmax.com/us/GOP alternative budget/2009/03/27/196690.html
http://www.usnews.com/articles/news/obama/2009/02/05/president-barack-obama-fires-back-at-critics-of-economic-stimulus-plan.html

and finally, our traditional "Wiki" explanation:

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009


MeanMesa visitors who are not well acquainted with the economic recovery plan can find a wide variety of information available in the Google entry for this topic. As Americans we are spending an immense amount of our tax money in this effort to resuscitate our "critically ill" country now that the Bush parasites have been sent back to Texas. Its our money, our President and our future. Who could remain uninterested at a time like this?



Friday, January 30, 2009

Savoring This Moment in Our Main Street Economy

Even in terrible economic times, personal memories are still quite affordable. Let's have a few. 78

I enjoyed an unusual conversation about the economy this afternoon at the coffee shop. Although the man with whom I was speaking was a stranger to me, it was fairly clear that he and I shared roughly the same economic status income-wise.

His premise was that the economic troubles our country faces are primarily going to impact citizens at a substantially higher economic position than he or I presently have. His argument, in so many words, was that the nation’s economic troubles would not really ever reach us in a day-to-day reality changing way.

That interesting proposition caused me to add an additional thought to the model. That thought? How aware of “it’s ability to reach us at this level” would the average citizen -- in this case my acquaintance and myself --actually be? In our world our economic destinies certainly ascend and descend all the time. If the impact we were discussing were gradual enough, perhaps no one in our crowd would even notice.

Consequently, I decided that a sort of unofficial “landmark” might prove beneficial. Maybe all the visitors to the meanmesa blog spot might take just a moment to set a benchmark in their own memory about exactly how things really were in January, 2009.

Hence, indulge me to quickly answer a few questions which might reveal, later, the changes in our personal economies between now and then.

This is a personal poll. That means that there is no link, nothing to write and no e-mail or phone call to make. These are simply a few questions to be answered by oneself and, perhaps, tucked away in one’s memory for later.

1. Where did I go today? How did I get there? Why did I decide to go there? Did I really need to go there?

2. What’s in my refrigerator? How many cans of different things are on that shelf? How long could I go without visiting the grocery store if I absolutely had to eat what I already have? How much did I spend on groceries the last few times I went?

3. How old are the shoes I’m wearing? How long could I go without having to buy more shoes? Another winter coat? Socks? When was the last time I repaired some clothes with a needle and thread because they were worn out?

4. Do I know how to grow a vegetable garden? Would I ever do that for food rather than as a hobby? Do I know how to "home can" fresh grocery store bargains or extra good crops from the garden?

5. How much are my monthly bills (not including mortgages, but possibly my car...)? Have I thought about trying harder to keep the lights turned off when not in use, keeping the house heat off except for a few hours a day? Have I thought recently about whether or not my gas and electric bill was getting too high? Have I considered getting along with a cheaper cable package?

6. How many times have I eaten out in the last couple of months? Have I thought about a way to avoid that, work on a less expensive approach such as packing lunch?

7. Have I considered lowering my “sin” expenditures on cigarettes, liquor (yeah, add pot...) by being more conscious of my consumption?

8. Have I recently thought about moving to a different apartment so I wouldn’t be traveling so far to get to work or other frequent destinations? Have I reconsidered how much bicycle riding I could do to avoid car expenses?

9. Have I started shopping more aggressively to find lower prices on everything I buy? Have smaller savings justified extra effort to add another store to my usual list?

10. Do I have close friends I would try to help if they were hungry? Would they try to help me for the same reason?

Add your own questions if some occur to you that were missed in this list.

The media is constantly talking about trillions of dollars, arcane economic things such as the “M1” money supply and “securitized mortgage packages.” If our problem is solved while these are the most central and worrisome questions it holds for us, we should probably feel grateful. On the other hand, five years from now the questions on the list, posted here in 2009, might foster the very memories we will be using for comparison when we speak of the “good old days.”

OOPS. Maybe two years from now.

Believe it or not, the Wiki has a darn good overview of the economic crisis (without wasting much time on finger pointing). This web entry links to several others, if the first one doesn't get it done.
http://en.wikipedia.org/wiki/Economic_crisis_of_2008

Sunday, December 7, 2008

Pretending It’s Just More Politics

Cut the drama already! It's just another election.
Right? So, chill. Everything will be back to the way it was in no time.70

Here, in America, we love our politics. We take great pains to say we don't, but we do. These athletic contests we hold periodically allow those of us with an appetite for any channel of respect and superiority to proffer up “the right answer according to me,” along with every manner of dramatic persuasion. It seems that we have an unending ambition to have been the ones with insight or perception remarkable enough to either prognosticate our future dilemmas or offer up spectacular solutions which testify to all who watch of our remarkable savvy or, perhaps, even our startling genetic, intellectual prowess.

We also have an indulgent taste for predicting exaggerated dire adversaries and other threats.

We comfortably perceive our politics as an indulgence directed at “better” or “worse” answers. After all, in the past even our worst decisions have been survivable. So far in our entire national history we’ve sought out every answer by dissecting the more acceptable alternative topics not included in the “burning question of the day.” To date we’ve never paid too great a price for our foolishness or naiveté. We’ve never been successfully invaded, conquered, attacked or damaged -- nationally -- so gravely that we could not endure and recover.

Having never been laid that low, our pretense about politics continually provided the narcotic implication that we dealt with every challenge from a position of strength, that is, strength sufficiently great that we would inevitably emerge to correct our errors. Living in that unlikely fantasy, we encountered no events so troubling that we couldn’t disregard them in favor of debating nuances of our national reality as if they were the substance of everything.

Some of our population saw the contest between the extremely old and the frighteningly new in the last election in just this superficial manner. All the banter seemed quite comfortably moribund, couched in no more than another set of traditionally indulgent details to be chewed as fat by fish wives whose entire universe extended only to the last tents in the market square. We moan and reassure ourselves about our skeptical superiority, romantically akin to desperately swimming to the nearest lifeboat -- or any accessible flotsam -- after a sudden and disastrous capsize, then, once again, devolving into endless arguments of inane ideology before scrambling on board.

The United States is not smoothly dipping through another period of “corrections” for some trivial miscalculation, anticipating a few weeks or months of being denied a few normally available prerogatives. Our descent is suspiciously steeper than that, and deeper. We are apparently dumbfounded at the full scope of the damage now that it is revealed in a more rational light.

We have been, perhaps, mortally injured. We may not survive the damage we’ve suffered. The stakes are that severe.

It seems that not a single tool of our national sustenance remains in tact after the last outrageous subversion. We face the possibility that neither our military, our economy, our Constitution nor our spirit has survived in a form strong enough to hold us together while we frantically rebuild what we have left. The final looting of the treasury might be the bright spot. It suggests that the thieves believe the currency will have value again someday.

Of course there’s still the currency exchange.

Obama might be a solution to this national hemorrhage, or he might be just a hopeful triage or, at least, a soothing first aid placebo able only to comfort us for our final denouement. His election may have harnessed a horse which can pull us through this Bush crisis or maybe offer only a lessor promise, that is, a delay and a respite until its final, inevitable outcome.

A few matters are becoming more clear. Yes, we were stunned at the $700 billion cash affair. Those of us who paid just a little more attention to the news now know that the total is actually approaching $8 trillion and that the credit swaps and other doodad parasites imposed on our economy amount to more than $500 trillion.

By the way, that last figure is more money than there is in the world.

We are led to believe that we dare not simply stop, but that we still need to pay it back. Otherwise, those folks who managed to take it will return and scare us even more.

We are led to believe that it was something ugly that “just happened,” that is, “just happened” like a sudden rain storm or a flood. We are led to believe that those who profited so much cannot really be expected to repay the larceny extracted during their schemes. We are led to believe that the same thing would have happened no matter who was in charge of the country. We are even led to believe that the whole business actually has very little to do with us, that it is a problem inhabited by pain and recovery only for the stratospheric elite.

There is a storm coming.

Remember the endless discussion during the most violent period of the Iraq invasion? "Gosh, is it a civil war or not?" The new version addresses whether or not it is a recession, or, even a depression, as if anyone walking on the earth here could still wonder. We may need a new, even more depressing term to describe what awaits us.

The current job loss figure is around 15,000 per day. The value of trillions of dollars worth of retirement investments is around 40% of what it was a year ago. The individual tax burden of Washington’s most recent largess amounts to around $140,000 for every taxpayer. The ninnies of the far right still explode with fractured indignity at the prospect of talking to the enemies they’ve made for us.

Just another election?

Just another correction?

Imagine holding the 23rd century history book which accounts the story of the world. Perhaps, mid way through there is a chapter describing the period of the democracies, two or three centuries around the second millennium. Place the story of the events of the last eight years toward the end of that chapter.

Now, for the “politics as usual” crowd of cynics, try to ignore it. Convince us that it amounts to no more than a wild, silly exaggeration. Just another election.

So, how are the levees? It's Pearl Harbor Day.

Fill in the holes. Exactly what could this turn into? This is an account of a similar situation as it developed in Argentina (you know, that country in South America where the ruling class were crooks):
http://seekingalpha.com/article/111315-america-s-economic-collapse-how-bad-will-it-get

Wednesday, October 15, 2008

The BailOut Begins

The scene: a dignified mansion in the hills of Connecticut 62

October weather had turned the color of all the tall trees along the long curving drive. The guards and the security gate of the place had been left far behind as the Rolls limousine slid silently into the covered entry way. Its privileged passenger jumped out, rushing in to meet his comrades, a boisterously grinning group of middle aged executives.

“Jerry! Come on! The meeting’s just about to start. Want a drink?” one of the well suited but already disheveled gentlemen in the massive atrium asked.

“Is Paulson already here? And, Jack. Is Jack going to be in the meeting?” the limo’s passenger asked of the laughing crowd as he joined the happy procession to the meeting room.

“Oh, yeah! Everyone’s here. We were waiting for you. Did you get those last positions posted in the market?” someone in the crowd asked.

“You betcha!” he answered jokingly. Everyone else began to laugh even more raucously. “I’m all set to go. I wanted in a couple of tasty little banks and some commodities stuff before we prime this market for the big one! Heh, heh.”

Outside a chilled autumn drizzle had begun, misting over the two dozen or so gleaming limousines in the side driveway. Chauffeurs, abandoning their automobiles, had begun to congregate in the caterer’s tent. A few of the younger ones took furtive glances at the girls who had just arrived in the caterer’s bus.

Inside, the meeting was starting. Treasury Secretary Paulson, flanked on either side by a couple of Wall Street giants, was chuckling at a quiet joke shared between them. Behind the Secretary a ceiling high panel lit up. On it were a cascade of the most recent inside trader information from the market. The attendees grew silent.

Bernake sat solemnly at the other end of the great conference table. Dignified servants rushed to fill every coffee cup and drink, pausing only to slightly rearrange the incredible bouquets. Paulson swept his hand to the side. All the staff quickly hurried out of the room, closing the door. Two Blackwater guards took their silent positions on either side of the doorway. Husky and intimidating, neither of those two faces reflected a sense of any of the events in the meeting room.

Paulson began, still chuckling. “Okay guys. Who would like a chance to participate in the, ah, saving of the economy? A show of hands, please.”

All those now seated around the table quickly raised their hands, smiling but attempting to feign a serious, concerned look.

“Very well,” Paulson continued, also pretending seriousness, “I want each of you to take your pencil and the little slip of paper in front of you and jot down what you think your fair share of this should be. Be sure to write down your name so we can be sure you get the, uh, financial help you’ll need to, uh, well, you know, save the economy.”

Again, the room filled with laughter. The stock market moguls began to write, all the while looking suspiciously at each other. Most of them held their hand to block any possible view of their papers by those sitting next to them. Almost all at once, everyone present folded the little slips and placed them in a basket being passed around.

Bernanke rose, tapping his water glass as if to propose a toast. “Some of you may have noticed that I have five extra slips here at my chair.” All eyes greedily shot toward the Federal Reserve Chairman. “Hank and I have a special surprise. We all know that the drama of our credit tantrum is what made this possible, and, right now, Hank and I would like to express our special thanks to a few of you who really got involved with our dog and pony show.”

The Federal Reserve boss droned on, “We know that you could have refused all those nasty little interviews with the media hacks. We also know that those of you who actually submitted yourselves to those ugly questions could have just lumbered through it. Well, in some cases those interviews were truly works of art! All those troubled “deer in the headlights” looks, the smiles of desperate optimism and the loosened ties were sheer mastery. You guys terrified the whole world with your performance! Bravo! Bravo!”

“For you, we have a extra bonus! Right now, I am writing down your names and yet another amount of bail out cash in addition to what you’ve already asked for. Everyone! Everyone! How about a big round of applause for the actors in our midst?” the Reserve Chairman beamed.

“You know who you are! Barry, Steve -- stand up! Josh, Bill, Mikey! These are the boys who drove this baby home! Big round of applause! Big round of applause!” the Chairman continued, folding the extra five slips of paper and ceremoniously dropping them into the basket.

One of the honored interjected his own praise. “Hank, annihilating your old Goldman Sachs foe at Lehman was a stroke of genius! That scared the crap out of anyone who might have seen through our other antics. A big hand for Hank! A big hand!”

Paulson, bowing and still clapping, made his way to Bernanke’s end of the table. Taking the basket, he went to a small door at the side of the room. “We’ll have the results of our, uh, work here in a few minutes. My Treasury people are issuing the credit vouchers right now.”

Returning to his seat, he glanced over his shoulder at the trading board behind him. The cascade of stock prices had already grown a hint of positive trends. A moment later all the bail out issues had been posted. He rose again, this time turning to look at the results. “Okay. We still have four-hundred- twenty-seven billion of the original seven-hundred.” Every face at the table was now locked onto the Treasury Secretary. “So,” he continued, pausing for effect, “let’s have some fun!”

Paulson and everyone else roared with laughter. “We, ahem, still have to decide the ‘quick and the dead’ out there among all those little banks. Anybody got any scores to settle?”

Instantly, all those at the table rushed to raise their hands. One particular man was frantically waving his arm back and forth.

“Okay, Larry. You look like you’re ready to go. I assume you would like to make a call to Quicksilver National in Cleveland. Go ahead! Get even with that little ingrate!”

Larry was already punching in the numbers on the elaborate telephone at his seat. He toggled to the speaker phone. A pleasant woman’s voice answered. “Quicksilver National. How may I direct your call?”

Larry, struggling to control his glee, answered quietly. “The bank president, please.”

The receptionist answered politely. “I’ll transfer you to his office. Thank you for calling Quicksilver.”

The Treasury Secretary quietly held his finger to his lips. “Quiet everyone. Quiet.”

Another woman’s pleasant voice answered. “President’s office. This is Ms. Mayhew. How may I help you?”

Larry, now almost out of control, stumbled ahead. “This is Lawrence Kashbague from Kashbague and Scrape. I need to speak with Mr. Tumblethorpe.”

The voice responded, “Mr. Tumblethorpe is in a meeting at the moment. Can I relay a message to him or, perhaps direct your call to someone else?”

“No, I need to speak with Tumblethorpe himself. This is an urgent call. Please slip him a note and tell him I’m on the line. Tell him I’ve got some important news for him.”

The crowd around the table struggled to swallow their guffaws.

After a few moments, the bank president was on the line. “Yes? Mr. Kashbague?”

Larry attacked. “Tumblethorpe! How’s your begging coming along? Did you manage to swindle anyone out of any cash or is Quicksilver still only a couple of hours from collapsing?”

The voice on the line was surprised. “I didn’t expect to hear from you, Kashbague. What do you want?”

“I want to buy your bank, asshole! I’m sitting in a, ah, special meeting with the bail out on a trading board in front of me. I’m offering you a hundred-seventy-six million for Quicksilver. Is that enough to bail it out?” Larry laughed.

Tumblethorpe, obviously shocked, stammered for a moment, then answered. “Well, we’ve been asking three hundred-forty-five million, but no one has any money. A hundred-seventy-six is awfully low. I’m not sure we can do that.”

Larry shot back, “Okay. Just ride the bastard all the way down, then! This is the last chance you’ll get. That’s a fact! Heh. Heh. You can take that to the bank, you son-of-a-bitch.”

“Where did you get that kind of money, Kashbague?” Tumblethorpe asked.

“Doesn’t matter, loser.” Larry fired back. “It’s a hundred-seventy-six or nothin’. Take it or leave it.” The others attending the meeting could barely contain themselves. “Make up your mind. You want it or not?”

After a pause in the conversation, Tumblethorpe’s shaky voice returned. “I, uh, guess I’ll take it. I mean my shareholders will, ah, ...”

Larry shot back. “Done! There is one other small matter, Tumblethorpe. That hot teenage daughter of yours. She’s got to marry my boy.” The efforts to maintain silence at the conference table now fell apart.

Tumblethorpe’s voice, now thoroughly shaken, finally returned. “You’re crazy! Who else is there? I hear voices.”

“Yes or no. What do you want? You think that daughter of yours will have a nice life with a washed out ex-con for a bankrupt father?” Larry continued to press.

“Oh God. What am I doing?” Tumblethorpe struggled. Stammering, he continued. “Okay. You’ve got me, Kashbague. Take it. Take it all! Take Melinda!”

“We’ll be talking.” Kashbague added ominously, chuckling. He hung up. The entire table exploded with violent, hysterical laughter and back slapping.

When the roar subsided, Paulson again rose, asking, “Okay, who wants to go next?”