The Timbers Army is going to have another big event coming up in October: Their Sugar Daddy Henry Paulson's going to be in the movies!
That's right! It looks like Michael Moore's new film, "Capitalism: A Love Story", will take a look at George W.'s final months in office when Henry Paulson helped ram through the TARP deal! This should be fascinating!

So all you Timber Army types, put on your best scarves and head down to a theater near you. Check out whom you're supporting here.

Maybe our self-righteous city council can take a little break from their Cash for Condos program, to ponder if they've been played by one of the true villains in recent American History. Of course Randy and Sam love bragging about their negotiating skills, but our people have been shoveling money to this ownership group in ways that would make Washington proud. We even subsidize the hourly workers' paychecks. How slick is that!!!!

This is huge. When it's all said and done, Henry Paulson could have put more of a hurt on America than Dick Cheney himself. Imagine! After all: Hank is on a very short list of people who CAUSED this meltdown! Not that it hasn't been a lot of laughs or anything.

And by supporting Merritt W. Paulson, you're a part of Dad's operation. You officially have one of the tentacles of the octopus wrapped around your neck like a scarf.

Of course, you're already in the familiar role of Paulson suckers just by being American taxpayers but this is even more selective: You're like exclusive VIP suckers. Most taxpayers are just screwed without the intimacy but you're getting the Paulsons' personal attention. Nice, huh?

Wait. Maybe the Timbers Army is better off not thinking about this financial stuff. If the full scope is revealed to them by this movie, we could have the world's first derivative hooligans.

A tale of two stadia in one city. Guess who makes the best choices?

A stadium built with public money, by trust me politicians assuring all that public investment will spur redevelopment of the wasteland...

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/11/AR2009041102036.html

...versus an arena built almost entirely with private funds, by a team owner accountable to bankers financing the venture...

http://the42bus.blogspot.com/2008/05/verizon-center-turns-10-celebrates.html

... and which catalytizes revitalization, redevelopment and economic growth surpassing all expectations.

I hope the Timbers Army appreciates how special it is to be 'close' to the powerful and wealthy; rather like the court jesters of old.

I just hate it when facts don't conform with my preconceived hypothesis. Newsweek, not exactly the print companion of Fox News, offers a surprising take on TARP:

The final cost of TARP will be a fraction of the original $700 billion, and taxpayers are turning a profit from its central component: the Capital Purchase Program.

Of course, this is in significant part a foreseeable, short-term effect: The assets that were troubled rather than toxic have found new homes, at profit to taxpayers. Still, fair's fair.

http://www.newsweek.com/id/214096

Roger,
I can guarantee you I didn't have a preconceived hypothesis about derivatives. When this all started, I didn't even know what they were.

Since then, I've come to the working hypothesis that things aren't going that great with the economy. I just see little signs here and there.

Now maybe Henry Paulson did a terrific job minding the store. Maybe his efforts to allow over-leveraging with derivatives back at Goldman Sachs were great for the country.

That could be. I'm not saying I fully understand this stuff.

But for right now I'm going to stick with a general feeling - call it a hunch - that the economy is really screwed up. Maybe these TARP repayments are terrific - maybe not.
I read one reason institutions wanted to get past them was to return to unfettered executive compensation and they're in much worse shape than they're letting on.

Thankfully, the FDIC fund is showing a robust return to good health by our banking sector. Nice to see the crisis has been averted and the dollar's future as the world's best currency is secure.

I'm also comfortable with the government guaranteeing assets in the private sector. There's no way that can go south. There's no way America can collapse Enron-style.

I'm also glad there's no chance this was a Titanic-style event and we're currently in the part where the band's still playing.

I say let these Wall Street types gamble as recklessly as they want - we'll always be here to catch them when they fall. In fact, I'm sorry I ever doubted their good intentions.

I will try and add "Derivatives Are Good" to the list of things I chant before bed at night. You know, right along with "War Is Peace" and "Freedom Is Slavery."