Uh oh. I'm beginning to feel a populist storm brewing ...

[Kablooie]

.. and it could explode into something dramatically chaotic but headed towards the goal of changing things that must be changed.

Now, I've felt this before when Bush was in power but it always ended in a slight piffle of nothing.

So is our country populated with slight and piffling nothings?
Is this who we really are?

Or will a sense of rightousness push us into a new becoming a new force that demands justice and heralds in a new and struggling age?

If America actually does revolt, it's ironic that it would happen under Obama's watch while the disaster called Bush, reigned totally rebellion free.

---

But my guess is that the piffles will have the last say.

I don't have a lot of faith that the old rebellious spirit that used to infuse our populace so fervently, still exists in this country.

Piffle!

[vaberella]

1. I'm a bit lost. What is the storm brewing for?!

Normally us who have a populous spirit do it for a reason. I have several but over which one are you talking, or is it everyone.

[Kablooie]

4. In general the handling of the economy. Specifically at the moment - the AIG bonuses.

[vaberella]

12. Ahhh....Down with Rich people who abuse the system!!! n/t

[FrenchieCat]

2. Talk about fucked up timing!

We let the criminal have his way with us for 8 years, and now, after 54 days of newly found freedom, you're looking for a revolution? Geeze. Guess folks have less respect for Obama than they did for Bush. I can't think of any reason why that would be......Wonder what's the difference?

[murielm99]

10. Obama's popularity remains very high.

The only people talking about a revolt are right-wing idiots like Beck. The fools who find him credible can't organize their own lard-laced asses, let along a revolt.

The people have chosen reform over revolt. They threw the republicans out of office. Obama has been reversing many of the worst of bush's policies.

We knew this would take time. Fifty-four days is nothing. Like most of the people in this country, I have confidence in the current administration. I am willing to give them plenty of time before I turn critic.

If we are going to revolt, let's choose an appropriate target. Let's make it an economic revolt. Why not turn off our televisions and boycott all the "news" and political shows? Most sensible people get their news from the Internet anyway. I would like to see this type of revolution.

Today, I went to a luncheon to support young Democrats. It was in an upscale hotel banquet room. When I went into the ladies room, I got the shock of my life. CNN was being projected onto the bathroom mirror! I couldn't even comb my hair or wash my hands in peace. At least it wasn't Fox, but who needs this nonsense?

I could participate in a revolt against our corrupt televised media. We could start small, they way they did with the great American smoke-out. We could get people to pull the plug on the "news" one day a month. We could build on that.

Don't worry about a populist revolt against Obama. I don't think he is the people's target.

[vaberella]

13. I think the revolution is towards Banks...not President Obama.

The poster explained in response to my post.

[Kablooie]

14. You're right, it wouldn't be against Obama, per se, but he would have to manage it.

[vaberella]

16. Oy....just nationalize the banks is all I could think.

There's no other way around this. Unless the American people get smart enough and commit a bank run. Now that would be a true populous uprising.

[Uzybone]

3. In my opinion

if unemployment doesn't go above 15%, most people will keep doing what they've been doing. From my observations today about the AIG bonus MEGAOUTRAGE!!!! most people said "thats outrageous", then went back to looking at the March Madness pools or some other diversion.

Most people I know actually are more optimistic than they are outraged.

It usually takes unthinkable acts to force the kind of revolt you are speaking of, acts that Id rather remain unthinkable.

[Kablooie]

5. Could be. The current outrages don't push past the piffle quotient yet.

[wroberts189]

6. Something seems to be brewing ..check out huffington post....

Disclosure That AIG Gave Out Millions In Bonuses Is Latest Episode "Feeding A Resurgence Of Public Anger"

MORE AIG FALLOUT: Bipartisan Outrage... Feingold Urges Administration To Pursue Legal Options To Stop Bonuses... Pelosi Calls Payouts "Unconscionable"... Says Congress Would Seek To "Recover Taxpayer Funds" Of Companies That Abuse The Bailout... McConnell: "It Is An Outrageous Situation"... AIG Reveals More Than 2/3 Of Bailout Billions Went To Trading Partners Such As Goldman Sachs, Deutsche Bank... Robert Reich: The Real Scandal Of AIG


Obama Bracing For Bailout Backlash


http://www.huffingtonpost.com/2009/03/15/obama-bracing-for-bailout_n_175161.html

[FrenchieCat]

7. Yes, I read this.

The media will be feeding this anger frenzy as early as tomorrow.

Watch and see.

I presume that Pres. Obama has a strategy to counteract the anger of Americans,
because the last thing that is needed are mad as hell at everybody and anybody
folks to complicate the political landscape and keep progress from happening....
cause usually anger directed at power, in this case the President,
will not help our cause in a long run.....cause the angry people don't normally
demand the shit that makes a whole lot of sense!

[Clio the Leo]

18. Yep he does and it is.....

The Obama administration plans to get the AIG bonuses back indirectly. West Wing mindmeld: We continue to negotiate with AIG to bring any payments in line with our priorities, and we also intend to seek mechanisms outside of these contracts to recoup this bonus money on behalf of taxpayers.

<snip>

EXCLUSIVE – The Treasury Department will lay out its financial re-regulation framework next week, with emphasis on preventing systemic risk so we never have to deal with an AIG-type situation again. The legislation is not written yet: The administration plans to work with Congress on details. House Financial Services Chairman Barney Frank will take the lead.

The Wall Street Journal’s Damian Paletta has new detail on the principles: Treasury Secretary “Geithner is expected to call for the government to have comprehensive authority over all financial products marketed to consumers, including the consistent enforcement of consumer-protection laws related to mortgages and credit cards. … A major component of the plan would be new clout for the Federal Reserve.”

http://www.politico.com/playbook/

[Bolo Boffin]

8. Check out what emptywheel found --

http://emptywheel.firedoglake.com/2009/03/15/the-semtex-in-the-aig-retention-contracts/

Translated, I take that to mean that AIGFP is a party to a bunch of contracts insured by AIG the US government. And if AIGFP somehow does something that equates to a default on those contracts, then AIG the US government is on the hook for hundreds of billions of dollars.

The white paper goes on to explain just one scenario that might trigger a default in terms of these contracts.

...I take this to mean that if a bunch of AIGFP managers quit because they didn't receive bonuses promised in their contracts, then France could, if it wanted, to appoint its own designee. And if that happened, then it would equate to a default and those contracts would kick in, at a cost to AIG the US government of at least tens of billions.

In other words, I take this to be a threat: "if you don't give us our bonuses, we'll trigger a default event that will cost AIG the US government tens of billions of dollars." It's just a polite way of saying, "Pay us the $100 million ransom or we start exploding the suicide bomber vests we're wearing."

Looks like that insurance policy they put in to protect them from their AIG bosses is going to protect them from their U.S. Government bosses as well. "The best and the brightest" indeed.

[wroberts189]

9. God ..they have redefined extortion to a higher level.

I read we have an 80% stake but does that really mean we own them? .. as last I heard we had not nationalized any banks.

And if we are on the hook for a default then logic could dictate we could prevent "something that equates to a default" by simply firing or better yet arresting them before they do it.

It is really hard to believe a provision that says if we resign or are fired then AIG owes you big. That has to be criminal.

If this is true it is quite a gambit and it might not go the way that the AIG people that set it up intended.

[baldguy]

11. The size of the derivitives bubble is $1,144,000,000,000,000

or about $190,000 for every man, woman & child on the planet.

http://www.siliconvalleywatcher.com/mt/archives/2008/10/the_size_of_der.php

[vaberella]

15. Are you trying to say we're fucked?! n/t

[baldguy]

20. We. Are. Fucked.

[vaberella]

17. Meh....they disgust me. n/t

[lunatica]

19. If you aren't storming the gates with pitchforks you're Piffle?

Like they wouldn't see us coming with all that medieval peasant weaponry and torches and stuff...

Just how far do you think a violent revolution would go in this country?

[NoPasaran]

21. Slight Piffle of Nothing would be great name for a band n/t

[Kablooie]

22. But they'd have to play their music on eider down pillows which wouldn't sound very good.

[ZombieHorde]

23. "a slight piffle of nothing"

I hope it is. We should give Obama a chance handle this situation.

[Teaser]

24. America doesn't revolt

generally we have landslide elections instead, one way or the other.