German Bundesrat (Upper House) Approves Europe Rescue Bill

Tyler Durden's picture

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jbc77's picture

I was watching "Squawk Box" this morning before work. When the futures started to plunge after the lower house of German parliment passed it, the three stooges sat there for 20 mins trying to figure out why the futures dropped on that news. What a gaggle of laughs.

cossack55's picture

Sir, no need to defame a group of actors who provided real value to generations of American youth.  I would poke you in the eye, a big face slap and a wicked cuff under the chin, but I would prefer to expend the energy on the CNBC slugs (no offense to slugs, BTW".

hazenyc's picture

buy the rumor, sell the news.

E pluribus unum's picture

Shouldn't the CBNC crew be wearing "Dow 10000" hats?

Poor Bob Pisani looks like someone killed his dog.


CB's picture

cnbc, yer source for rilly gud financial edukashun.

cossack55's picture

If Bundes means "group" and we know what a rat is, dose that mean Bundesrat is "group of rats"?  I thought our congress already copyrighted that term.

Miyagi_san's picture

Bunde in portugese (brazil) means an ass rat may be it

Shylockracy's picture

Bund in German means 'confederation' or 'alliance', and the word for 'backside' in Portuguese is 'bunda'. Ignorant humor turns you into laughing stock for better informed observers.

Shylockracy's picture

„Welche Hand müsste nicht verdorren, die sich und uns in solche Fesseln legte?“

Philipp Scheidemann, 1919.
Coldcall's picture

i think all market participants expected it to pass because market armaggedon would have been unleashed had it not passed.

monmick's picture

The exact term for the European TARP in German is TARPNSCHAFT.

MaxVernon's picture

+1  made me spill me coffee

Tart's picture

Margin calls don't read the news.

Cyan Lite's picture

Seriously, who's levered long?

AccreditedEYE's picture

Never, ever doubt the stupidity of some of the shops that are out there...

SWRichmond's picture

I just wanted to add my major "OMG, AMEN" to this thought string.  I don't even trust these markets enough to be in them, let alone levered long.  OMFG

Mercury's picture

You can see right through those flimsy Euro-TARPs.

doomandbloom's picture

more like a German FART or a BURP...

cbaba's picture

We know what happened when we passed the Tarp here in US.

Its a temporary fix and then we will need another tarp, then printing press, then inflation and then the hyper. welcome among us Europeans.

MyFriendMises's picture

Exactly.  And each time one of these measures is approved the next one happens even sooner.  The collapse is exponential. 

bobby02's picture

It helped put a (local) bottom in?


The horror.

John McCloy's picture

In case nobody was watching the CNBC Sen. Corker interview let me just give you a few fist through the wall comments:

CNBC: So nothing on Fannie & Freddie? Odd for financial "regulation"

Corker: Well the administration does not want us to deal with this issue for a few years because of the turmoil it can cause in the markets and the blame can fall on democrats.

Corker: Well I think we will eventually get to swaps desks

CNBC: Well we had a credit crisis with a large amount of credit and leverage so isnt credit the issue?

Corker: Well we really need to get these institutions to lend to small business.

Corker: Some of these amendments were just off the wall and would make us less competitive.

Corker: I wanna thank you CNBC for the great job you have done at educating people on these reform issues.

My takeaways from this: So politicians are not fixing the problem because they are either hoping to be out of office concerned about re-election. We gave banks all the money and changed all the rules after they destroyed the markets for their own financial gain and then had us pay them out so they could continue business as usual while unemployment climbs and now we are begging them to lend our money back to small business?

Oh and amendments that prevent banks from blackmailing the nation, capping their size, making synthetic bets on something they are not party to, breaking up banking operations and preventing bubbles IS OFF THE WALL. And lets also commend CNBC?

Sounds like real leadership to me. I will have two punches in the face with a side of sodomy please with a blue pill for dessert.

MyFriendMises's picture

Totally agree.  No matter how bad it is in the country they will still do what is best for them.  I could be wrong but to me past politicians use to have a line, that once crossed, they would do what needed to be done even if not in their best interests. (even if they were wrong on how to do it)  Now our esteemed politicians know what needs to be done but dont do it because it is not advantageous for them to do so even if it is destroying our country.  It is just sickening.

MaxVernon's picture

"with a blue pill for desert"


Clearly there's no hope of a red pill...

taraxias's picture

This is all you need to know about Sen. Corker. Just another bought and paid for POS.

Tortfeasor's picture

If I hear someone talk about "loans for small businesses" again I may lose it.  Small businesses need revenues and earnings, not credit.  No one needs more credit (except those who absolutely should not be loaned to).

And the .gov is incapable of providing actual revenue to small biz, so they pat themselves on the back for doing the government equivalent of mental masturbation.  Never confuse activity with accomplishment.

Cyan Lite's picture

The real joke is on us.  Those goons will get re-elected time after time. 

Xibalba's picture

2012 is looking really sweet to me.  And by sweet I mean buy ammo and bottled water. 

MaxVernon's picture

Call me insane, but I was thinking the same thing just the other day.  Telling the kids I thought the movie 2012 might actually have some merit.  Not because of stupid invisible planets, etc, but because of political and monetary turmoil that should be quite ripe by then...

ella's picture

Perhaps the players in futures market understand  that governments can not print enough money to bailout the speculators.   Fear of contagion indeed. 

MarketTruth's picture

History has proven time and again that all FIAT currencies eventually find their inherent value (read: zero).

Crab Cake's picture


The Thirst Mutilator.

It's got electrolytes.


Its got what plants crave.  It's like riding a dinosaur strapped to rocketship, and mowing your chest with a lawnmower.  It's going to save the world.

doggings's picture

CNBC gives me a contrarian alternative viewpoint and a lot of belly laughs, much like Leo, so leave them alone.

Popo's picture

TARP bought us over a year of unbelievable rally.     Don't tell me EuroTARP buys us a repeat performance...