Both Sully and some Kos diary author — and now, as I write this, Olbermann — are going off on the following video:

The upshot is that there was a bank run in the making on September 18, and that if there was nothing done, the economy of the United States would be completely destroyed in the space of three hours, with the world economy falling apart as a result.

There are several possibilities.  If you buy Paul Kanjorski’s account, then (a) the debate about the worst President / Administration ever is OVER, but (b) the bailout looks better than it really should.  But maybe Hank and Ben were telling a ghost story about impending doom in order to get Democrats — a malleable bunch, them — to do whatever the Bush Administration wanted.  Which is the Bush / Democratic m.o. in 2007-2008.  Or maybe Kanjorski is just covering his own ass for the shoddy bailout plan that allowed all sorts of waste and nonsense.

Anyway: what say you?

The last two Bush-family engineered economic implosions were mere hemorrhoids on the ass progress compared to the full-bore apocalyptic catatrophe that is bringing civilization to a grim, smoldering end. The chart above tells the part of the tale you’ll feel first: the complete and sudden absence of income. Unemployment rates will cap 75% in a year as companies take advantage of the unfolding horror, lay off most everyone and triple surviving employees’ workloads, safe in the knowledge they’ll be no complaints.

At the end of the 1980s, nearly a decade of Wall Street lunacy, random financial services deregulation (with the worst yet to come during L’il Abner and Daisy Mae’s Administration) and complete abandonment of underwriting quality in the mortgage industry culminated in the collapse of many key real estate markets and a broad economic recession.

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Head Hose Bag: Whoremonger Kristen Davis Ran the Whorehouse That Sold The Mostest Poontangie to the Greediest Wall Street Fuckwits. From Sucking High-Priced Tits, to Being High-Priced (Public-) Tit Suckers, Oh, How the Hubristic Oligarcs Have Fallen.

Not only were Wall Street masters of the universe too incompetent, spineless and corrupt to run their portfolios straight, they were also way too busy pestorking the bejesus out of four- and five-figure hookers and walking around in euphoric post-coital fogs to figure out their businesses were monstrous fucking doomsday machines spinning out of control and winding up to destroy Western civilization. Then again, how could anyone with an endless supply of retirement fund money from witless investors to spend on busloads of fuck-ready supermodels actually care about anything?

Ha. Haha. Hahaha. Yeah, yeah, bring in two bus loads of them! Everyone knows the fucking buses are so much smaller these days. Yeah, hey, the leftover caviar at the bond department – hey, just pour it right on the desks and we’ll fuck ’em right there, swimming in the fucking stinking fucking fish fucking ooze. Oh, yeah. And get the guys from equities research to bring down some of that great blow and we’ll snort it off of their asses before we fuck ’em!

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Can you imagine the desperation of these assclowns? 

The ubiquitous Samuel Joseph Wurzelbacher, aka “Joe the Plumber” and “Joe the War Correspondent,” will soon add a new moniker to his profile — “Joe the Economist.” Politico reports that House GOP congressional aides decided to invite Wurzelbacher to a meeting on the stimulus in hopes that it will attract some media attention.

Yes, I know, he managed not to get himself killed or kidnapped when he was in Gaza.

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Bank of America SuperBowl Orgy & Festival of Wanton Greed & Entitlement Makes Taxpayers Vomit Blood and Puss and Shriek for the Skulls of Bank of America Execs.

Bank of America is one of those institutions that can only exist in a fascist dystopia ruled by savagedly fuckwitted gangsters, a bank so criminally incompetent that its very size and raging degeneracy now threatens the larger national economy.

It entered the naughts a huge, mostly West-coast bank, known for the cackling imbecility of its employees and the rapaciousness of its fee schemes that force its banking customers to pay horrific charges for services that were free 20 years ago. In short, Bank of America was the equivalent of a really stupid biker gang of a bank, dangerous if you got near it but mostly easy to avoid.

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Jacob Frenkel – AIG vice chairman, former Israeli central banker, and wanker:

Jan. 30 (Bloomberg) — At the World Economic Forum two years ago, Nouriel Roubini warned that record profits and bonuses were obscuring a “hard landing” to come. “I really disagree,” countered Jacob Frenkel, the American International Group Inc. vice chairman and former Israeli central banker.

No more. “Roubini was intellectually courageous, and he called the shots correctly,” says Frenkel, whose AIG survives only on the basis of more than $100 billion of government loans. “He gained credibility, and he deserves it.”

This is what happens when you fuck with Roubini.

Roubini See Global Gloom After Davos Vindication [Bloomberg]

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Once again, banking’s Best and Brightest piss away your tax dollars!

You could hardly blame Kenneth D. Lewis, the embattled leader of the Bank of America Corporation, for feeling a bit of buyer’s remorse.

His audacious acquisition of Merrill Lynch, the giant brokerage, looks so disastrous that many on Wall Street wonder if he can keep his job.

Four months ago, as turmoil swept Wall Street, Mr. Lewis’s bank bought the foundering brokerage for $50 billion in stock. Today, the two companies are worth $40 billion combined.

Of course, no one could have predicted this would happen:

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