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The message doesn't seem to be getting across. Even if, for the sake of argument, the alleged restriction is accepted, there are at least two ways to get TARP money into GM/F by using BHCs as conduits. This is a complete non-issue - if the Bush administration wants to pump $s into GM/F they...

Both of those are cutting back on-shore production dramatically. As they use a very high percentage of "temporary" workers, that means they are laying off, or part-timing, a large number of workers.

I have trend-long signals generated on all of those during this past week. Which I ignored, as I'd already aggressively sold OTM puts back when VIX was threatening triple-digits. Time will tell which decision, if either, was correct.

If workers at on-shore transplants (Toyota, Honda, etc) have their pension/healthcare costs covered by Mr. Taxpayer, whereas GM retirees are (at least in theory) self-funding a superior plan, it is not valid to simply compare labor costs between transplants and GM/F.

Wouldn't these Fed notes compete directly with the tsunami of Treasury notes, thereby pushing upwards on interest rates for both parties?

So JPM makes a bullshit loan to GM and TARP immediately buys a bullshit loan from JPM. Mission: Accomplished. There is no real oversight on any of this - all the definitions are loose enough that Paulson and Bernanke are essentially unconstrained in their choice of actions.

A couple of reminders from one of the legends... And... And...

What does "70%" mean? That 2 out of 3 trades are profitable, or that trades show on average a 70% gain?

Labor cost for domestic transplants (Toyota, Honda) is approximately the same as at GM/F. What the GOP is actually asking for - without using the correct language, of course - is drastic reduction in autoworker retiree support.

Name the author, without Googling...

I see a Black Swan in your future. Good luck.

The blogosphere is going to have a collective aneurism writing about this....

I have some DBB, along with DBA and DBO. Call it the "Rogers Lite" part of the portfolio. Based on the fairly recent past, there is no reason these can't drop another 30%. Hell, if we're as deflationary as it appears we may be, they may drop a lot more. But at some point, if you want to hold...

I can think of several less-than-looney scenarios where that wouldn't be true - and I don't even have a particularly active imagination.

Or put another way - people are willing to lose a little in an environment where they believe their peers may be losing a lot as their relative financial strength goes up even if the dollar amounts go down in absolute terms. Assuming these people aren't morons, this is obviously extremely...

Absolutely not. He's not a Messiah, he's a politician. His #1 over-riding priority is getting re-elected.

AAPL dancing with triple-digits again is most definitely sounding familiar.

So I take it you believe the blame for the big-spending Clinton and Bush II years belongs at the feet of Gingrich and Hastert?

What can I say? LOL. Canada is a fantastic place in many many ways - but it breeds its fair share of nut jobs just like any other place. Ain't no passport been invented yet that provides immunity from being a dumbass.

That is due to it having been a *very* long time since the US had a Democratic President at the same time Canada had a Conservative/PC Prime Minister. No other reason.