The funniest thing in all of this, is that somehow LIBERALS EVERYWHERE now somehow trust this administration's advice and are poo pooing anyone that didn't take the original faux "agreement" hook, line and sinker. So now... after literal years of not trusting Bush, touting him as a liar, and needing to impeach him (hahaha)... You say not following him is some how a problem? "Unpatrotic," says Pelosi? Biggest flip-flop in the history of congressional LIBERAL Democrats. If the Dems are so united, then USE YOUR MAJORITY! They can't though.. because it would be imprudent, unwise, and even more tragic in the long term. 97 DEMS SAID, "NO." Own up to it. Man the torpedoes! <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/ey3ZlsmIkz4&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/ey3ZlsmIkz4&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
I'm sick of this partisan BS. Dems pointing fingers at Republicans, Republicans pointing fingers at Democrats. All of them are a collective big fat FAIL. They have failed the nation. I'm disgusted with it all. If every single one of these scumbags doesn't get voted out of office come November then ... I don't know what to say. Or do.
did your rep vote yes or no? You voting them out? The pathetic part about congress is while overall their approval is low, no one wants to vote out their own rep.
Use your "mandate" then, Dems. Show us your leadership skills! It's a joke that they try and blame the Republicans, when half of the issue is themselves. We're not blind, Dems. We know this means the deal stunk in the first place. I won't doubt that soon enough, instead of defending the Bush urgency in this matter, they'll seek to blame him again.
BWAAA!!!!!!!!!!!!!!!!!!!!! Are those same voters supposed to forget the 12 years before hand when republicans controlled congress?
Seriously, weslinder, rimrocker et all who are against the vote, just stop OK? You don't know how it works. You cannot overestimate how important the credit market is to the US economy. Paulson isn't giving the banks a bailout. He's giving the US economy a bailout. This packages affects people who are nowhere near the banking mess. Want an example? Your local chain supermarket. It gets produce and a bill from its suppliers but doesn't have the cash on hand (of say $990) to it off at the end of the day, it borrows overnight from a bank and agrees to pay $1000 next day. Guess what, in several part of the country banks have stopped giving the loans to cover their own liquidity issues. That has nothing to do with the sub-prime/CDS mess. That's just basic day to day operations for a company (the supermarket). And now it can't be done. Make no mistakes about it, the US liquidity pipeline HAS dried up. Nobody is loaning money to anybody because they fear they may not get it back in another run on the bank. This is the worst recession (and no, we don't have to wait until after tomorrow to find out) since the second great depression and if a revised package doesn't pass, we are going to head towards 1929 levels. Want to know why Paulson's plan COULD work? You're setting up an RTC type of organization to take those debt off the banks' books so they can use the cash to once again make loans, easing the pains of the liquidity problem. And it isn't a "bad bailout plan" as you call it either. The banks ARE NOT getting off the hooks for free. For starters, before they only had paper/unrealized losses. Once they unload the MBS' to the RTC, they have have a REALIZED loss. Quite frankly, many of the MBS' are quite well collateralized and overcollateralized. If not for the fear on the market, they would do very well, especially once the market recovers. Now all of a sudden, the banks that unloaded the securities on the RTC realize the losses and take the full brunt of the downside and lose all of the upside, all of which go to the Fed. So let me say again, YOU CANNOT UNDERESTIMATE HOW BIG A PROBLEM THIS IS, AND HOW IMPORTANT THIS PACKAGE WAS. Now the other thing, you already know that Nancy Pelosi is a moron and a *****, now you know John Culberson et al are b1tches as well. Ain't it great they are playing politics as the whole economy tanks? Gotta love American partisanship. The sad part is, I doubt those idiots understand the scope of the problem, even those that voted aye.
Btw, Citigroup bought Wachovia this morning and assumed $32 billion of its debt. Even though they have the cash, they were likely to have counted on the Fed funds for that. Along with the dividend cuts, the $12 billion preferred share issues and the $10 billion they plan to issue (probably won't be able to now), one of the biggest banks in the US has really diluted its shares.
We who understand know that REPUBLICANS warned of this problem first, while Democrats tried to poo poo them and act like nothing was wrong... when? Four years ago. FOUR years AGO! <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/_MGT_cSi7Rs&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/_MGT_cSi7Rs&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object> Now today Pelosi tries to blame Republicans, while 97 of her own party do not want the proposed bill... 97 of her own party? Why not admit she can't lead?
MFW, Major, et al., Did y'all miss this thread that I posted? Does the CEO of BB&T not understand the credit crisis?
McCain Says Now Is Not Time To Assign Blame -- Only Two Hours After His Campaign Blamed Obama John McCain just now delivered a statement to the press about the bailout collapse, and called for the finger-pointing to stop -- barely two hours after his campaign directly blamed Obama in unequivocal terms. "Now is not the time to fix the blame." McCain said. "It's time to fix the problem." But at around 3:30 P.M., the McCain campaign blasted out a statement that fixed the blame directly on Obama. http://tpmelectioncentral.talkingpointsmemo.com/2008/09/mccain_says_now_is_not_time_to.php What a ****ing loser
I may have to take you off my ignore list, MFW. You're the only person there and this is an excellent post (I agree with it), so I think I will. How about trying to keep it a little civil, OK? I've never said I'm a saint, so I'm sure I've irritated you, as well, but I'm willing to bury the hatchet... if you are. If you care.
Get real. It was a response to Obama this morning claiming McCain should get "no credit" and to Pelosi's torpedo shot of her own "efforts." New to politics?
This is what happens when you put the Democratic Congress in charge of something. What we need right now is a really well mouthed, teleprompted speech from someone who doesn't understand what he's talking about. That will solve all of our problems.
