Depression

Posted on 01/19/2008 at 10:10 am by Bob Cesca

Last night, Cramer warned that if the government doesn’t bail out the mortgage insurers — Ambac, MBIA, PGIC — they’ll go under. If they do, we’ll have…

“the end of the world – or at least another 2,000-point decline in the market, which in my view is about the same thing,” he said.

What we have here is either a $125-$250 billion government bailout or economic armageddon? Nice.

Thanks, Mr. President. Good job, you dingus.

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  • http://commenttrawl.blogspot.com/ Temperance

    Dude, I caught that last night, too. I don’t know what’s more scary, the grim predictions or the proposed remedy for the situation. I’ve almost finished The Shock Doctrine and it’s convinced me that neocons welcome these crises as opportunities to remake the world in their own crappy image.

  • Nanotyrannus

    I think they will get the Billion Dollar Bail Out, but they will double dip. They’ll get bailed out, and then they’ll make millions off of building housing for the private/for-profit debtor prisons that mildly retarded marionette has planned for us.Hey Bob – some political hay is being made from Barack Obama’s comments the other day about Ronald Reagan. From what I’ve heard about it, people have read into it that he is praising RR. I’ve heard it and kind of think it was very neutral and didn’t heap praise on Reagan. Would you like to weigh in?

  • Bob_Cesca

    Here’s what I think of that… The Clintons are running a shameless, disgraceful campaign. I’ve supported the Clintons even when it wasn’t ‘cool’for progressives to do so, but I’m very disillusioned with their underhanded tactics, which is one of the reasons I endorsed Senator Obama (much to the chagrin of MANY of my readers).The Clintons are being ridiculously disingenuous and intellectually dishonest with their attacks on Senator Obama’s Reagan remarks. Anyone who reads the remarks knows what he meant — except those who need fuel for a pathetically desperate campaign.