A Line Grows at Treasury

First it was the banks. Then Fannie and Freddie. Then AIG.  Then Shittybank. Then the automakers. Then the former millionaires created by Bernard Madoff.

And now the Donald Trump contingent wants in:

From the NY Times: A Wish List for Commercial Real Estate

Commercial real estate groups have been meeting with members of Congress, the Federal Reserve, the Treasury, the Federal Deposit Insurance Corporation as well as Mr. Obama’s transition team, to press their case. And they say they have a compelling one.

CR was exactly right about this last week, and he remains exactly right:

[T]his is really about property investors who bought commercial buildings at the price peak and are now underwater. But say the owners default and the properties are transferred to the bondholders – what is the risk to the economy? None.

Makes sense to me. Anybody else care to weigh in?

NY Times on Possible CRE Bailout [Calculated Risk]

I cannot unsee what you have put before me, Bloggy. Thanks for making me puke up grandma’s leftovers. That was good ham, btw.

Asshole. A local Chicago blog reported recently that Trump is behind on payments to builders for his shiny new building here, and trying to claim the need for an extension because of general economic hardship. But the day before submitting the claim, he was in Aberdeen telling the Scots that his company was still completely viable and prepared to handle the expenses of building the coastal golf course and resort he’s had in the works there for ages.

@nojo: There’s no slaughter like slo-mo slaughter.


Day Four of the Fallout III siege: We are on to radioactive scorpions, Raiders throwing grenades and Mysterious Strangers lending a hand when most needed. Of course the Super Mutants abound, and we need to steal ink from the library to forge a copy of The Declaration of Independence. Some robot wearing a powdered wig thinks he’s one of the original signers. (I’m reluctant to write that I actually like this game.)

@JNOV: This sounds strange, awful and awesome all at once. Robot in a powdered wig? Damn. No xbox or wii for Son of RML. He got a knife sharpening set and a book on Bushido.

@redmanlaw: The code of the Samurai? Awesome! We have no need for knives except in the kitchen, unless we want to fuck up some talking dude at the movies.

Your boy has a whole world to explore that we just don’t have here in the urban jungle. I’m just thankful my kid is (still) straight edge and has a rich fantasy life.

I used to send him to a ranch camp in the Sierra Nevada in the summer. He loved it — it was a working ranch and the kids had chores in addition to all of the cool camp activities. He learned to shoot a .22 rifle, was one level away from sharp shooter, but he decided not to go hunt squirrels.

Trump can shove all his products up his ass. What I find most annoying about him (even more than trying to trademark “You’re fired”) was his “you can be rich like me” course he peddled to morans, ur, people.

Trump’s Plan in a Nutshell
1) Inherit a pile of money
2) Talk about money to make an even bigger pile
3) Declare bankruptcy
4) ????
5) Success!!

Where is all that vaunted “personal responsibility” and “assumption of risk”? Oh right, that’s only for poor people without health insurance who go bankrupt because of medical bills. Silly me.

@ManchuCandidate: To be fair, the article didn’t mention Teh Donald. On the other hand, I’d go better than even he’d be first in line for cash to prop up his CRE ventures.

speaking of assholes, why isn’t anyone calling bernie what we’re calling him in our house…made-off. what? too easy?

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