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The European bailout is not "TARP Deux," Doug Kass says, for many reasons. Will Europe have the...

The European bailout is not "TARP Deux," Doug Kass says, for many reasons. Will Europe have the same resolve the U.S. showed when implementing necessary fiscal controls? Will Europe be willing to "extract the skin" of their financial institutions, as the U.S. did to equity holders of AIG (AIG) and other publicly-traded firms? Kass doubts it.
Comments (6)
  • Papaswamp
    , contributor
    Comments (2198) | Send Message
     
    "Will Europe have the same resolve the U.S. showed when implementing necessary fiscal controls?"

     

    This is a joke right? What fiscal controls? The govt has increased spending.
    11 May 2010, 05:53 PM Reply Like
  • Jeff Nielson
    , contributor
    Comments (2464) | Send Message
     
    Papaswamp, you took the words right out of my mouth!

     

    I don't see "record deficits" as being even remotely equivalent to "fiscal controls". But never let facts stand in the way of propaganda.
    11 May 2010, 06:02 PM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
     
    Yeah, I doubt it to...What will your pal Sir Larry have to say Doug? I can't even watch my former favorite economics show anymore. Larry drank the kool-aid Dennis Kneale brought him one day and has been out of his mind with all this "V" shaped recovery crap! Risk/Reward? Come on man,anyone really think there is upside here? Barton Biggs was out talking his book today! 20% upside? Lost all credibility,and I really used to respect Bigg's commentary....
    Jerry
    11 May 2010, 06:41 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    It's a European upside-down, double layer, debt cake with a huge heaping coating of moral hazard frosting.

     

    "fiscal controls"?!? lmao.
    11 May 2010, 09:05 PM Reply Like
  • nyuszika45
    , contributor
    Comments (633) | Send Message
     
    Obviously Kass is referencing a place called "Europe" with which none of us have any experience. The "YRUP" I know has all the fiscal control of an alcoholic locked in a liquor store overnight.

     

    I'm still not very good with analogies, but you get the idea.

     

    Come to think of it, can anyone suggest a government that doesn't "buy" votes before election time or, in some countries, at any time?
    11 May 2010, 10:31 PM Reply Like
  • ebworthen
    , contributor
    Comments (2811) | Send Message
     
    "Will Europe have the same resolve the U.S. showed when implementing necessary fiscal controls?"

     

    Is Doug seeing Pink Elephants in his backyard, too?

     

    He goes on to say that the liquidity infusion in the U.S. "has worked" while lauding increased taxes and punishing shareholders in AIG (I guess rewarding Goldman Sachs is o.k.?).

     

    Recovery? I wouldn't say "recovery" until at least 7 years past an "unprecedented" 2008 regardless of appearances in the moment.

     

    I want what Doug Kass is smoking (or drinking).

     

    Well...not really...
    11 May 2010, 11:24 PM Reply Like
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