Rotating Header Image


300wde_totus As to the toxic nature of the assets discussed in the following and various players who appear to be appeasing the Obama Administration and other Democrats, the ever-hyperactive-unnecessarily-giggly Cristina Romer said this morning:

Romer: Firms Will Buy Toxic Assets Because ‘We Need Them’

Private investors are “kind of doing us a favor” in buying up toxic assets, and are viewed differently from the firms that got the U.S. in the financial mess, President Obama’s chief economic adviser said Sunday.

WASHINGTON — AIG outrage is genuine, but be careful about the fallout, said the head of the president’s Council of Economic Advisers, noting that private investors are “kind of doing us a favor” in the toxic assets plan.

Adviser Cristina Romer told “FOX News Sunday” that private firms should not be intimidated by Congress’ decision to tax executive bonuses by 90 percent because they understand that this is a new culture of doing business.

“We’ve got banks with a lot of toxic assets, what ‘toxic’ means is they are highly uncertain … so that is certainly the big picture, and that is going to be the main reason for doing this, we need them, we just simply need them to do this,” she said.

The Obama administration is in the midst of developing a plan that would increase oversight on executive pay at all banks and financial firms, and possibly other companies, The New York Times reported Sunday.

The paper reported that the plan would cover publicly traded companies, including ones not getting federal bailout money. Already many of those firms have to report some of their pay practices to the Securities and Exchange Commission, but this would evidently go further.

The administration has not indicated yet what “oversight” means, and whether it is merely reporting pay levels, or possibly limiting them.

“We have to level the playing field,” Rep. Charles Rangel, D-N.Y., chairman of the House Ways and Means Committee, told “FOX News Sunday,” about the decision to tax executive bonuses at 90 percent at firms getting federal bailout funds.

Romer said that many of the investors helping out in the toxic asset purchases understand that President Obama realizes they are in a different category from American Insurance Group and other bailed-out companies…(read the whole article).

320wde_chalresrangel-taxcheat-hypocrit So some speculators the Obama Adminstration “kind of” favors, some they threaten with gangland limitations on what they “can” earn, some of the speculators who they “kind of” “need” receive the underthetable tipoff that they’ll be escaping the TOTUS dictator-clad directives, as long as they’re fulfilling just what the Administration and useful idiots in Congress among the Democrats also “need”: increased speculation of “toxic assets” to counter the “bad” “not needed” “AIG-kind of” speculators.

“Toxic assets”: the mother’s milk of the Democratic National Party.


NOTE ABOUT GRAPHIC (“TOTUS”): I found the image on FreeRepublic — don’t know who to credit it to — but added the titling afterward.

C O M M E N T S : now closed