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September 23, 2008

Comments

FK

Or maybe we should give Bill Clinton credit for not bad-mouthing John McCain for political purposes. It's well-known that Hillary Clinton and John McCain are friends, and it would ring false if Bill Clinton started throwing mud at McCain.

As for Biden . . . This is what Biden is. He talks too much, and he puts his foot in his mouth. We've known this about him all along, and if Obama was not prepared for this happening then he didn't do his homework.

mjfell

Hopefully people will wake up to certain facts while Obama's camp self destructs. If the reality of the Democratic change is truly exposed this should be an easy winner for John McCain.

George Bush has been in office for 7 3/4 years. The
first six years, the economy was fine.

A little over one year ago:

1) consumer confidence stood at a 2-1/2 year high
2) regular gasoline sold for $2.19 a gallon
3) the unemployment rate was 4.5%;
4) the DOW JONES hit a record high--14,000
5) Americans were buying new cars, taking
cruises, vacations overseas, living large!

But Americans wanted 'CHANGE' So, in 2006 they voted
in a Democratic Congress and, yes, we got 'CHANGE' all right!

1) Consumer confidence has plummeted.
2) Gasoline is near $4 a gallon and climbing.
3) Unemployment is up to 6% (a 20% increase).
4) Americans have seen their home equity drop by $12
TRILLION DOLLARS, and prices still dropping.
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another low~~11,300--
$2.5 TRILLION DOLLARS HAS EVAPORATED FROM THEIR
STOCKS, BONDS and MUTUAL FUNDS INVESTMENT PORTIFOLIOS!!

Yet, the Democrats and the left-wing media have
EFFECTIVELY blamed all of this on President Bush.

YES, IN 2006 AMERICA VOTED FOR 'CHANGE,' AND WE SURE AS HELL GOT IT!!!

NOW BARACK OBAMA IS THE DEM'S CANDIDATE FOR PRESIDENT, AND THE POLLS SAY HE'S GONNA BE 'THE MAN'--CLAIMS HE'S GOING TO REALLY GIVE US 'CHANGE!!'

JUST HOW MUCH MORE 'CHANGE' DO YOU THINK WE CAN STAND???

gringoman

Yo Monca you fine thang you!

You probly heard that Joe Biden is now doin' gaffe-a-minute so the Obama Team an' Davit Axelrat can dump Joe an' bring on Hillry.

Lemme tell you somethin' right now. Don't matter how much my man Barry now wants Bubba's peach-in-a-pants- suit to be his Vee-Pee. Sure he need a strong woman. But you know what? He already got one.

You know what his Mama Michelle say about Hillry. 'She can't run her own house, so how she gonna run the White House?'

So, when my man Barry try to get on the phone to Hillry, you know Michelle got to tell him, "No way, Jose! Over my big, beautiful dead black body!"

Know what I sayin'?

---from yo' admirer, Gringobro (courtesy, Gringo Advisory Board)

Ron Mwangaguhunga

Clearly the Clinton's want to run in 2012. They did their duty at the Convention, and we can't ask tehm to fake their disappointment as the campaign goes by. And Joe Biden is and always has been a straight-talker -- nothings going to change that. I think you are making too big a thing of these events in the name of partisanship, Monica. You are way too smart on matters of International Relations -- NATO, a possible Council of Democracies, the artificiality of the Durand line in Afghanistan, China in Africa -- than to descend into this Left-Right people shtick, Monica. Remember, my fellow pop-cultural afficionado, Jon Stewart's classic plea to Tucker and Begala on "croddfire" on the subject of Left-Right people.

gringoman

MICHAEL AVARI,

I suspect that your fellow Columbian, Monica, despite her rip-roaring Rolodex and my suggestions, has not yet hooked you up with Team McCain. Alas.

Nevertheless, can you do anything to snap Johnny Boy out of his inane and lame take on this historic Democrat-wrought calamity? He even parrots the"greed"cliches the crafty swindlers like. Does he even have a clue that helping these Affirmative Action criminals cover up what they have done to poison the US financial system, putting it on Life Support, is no way to run a Presidential campaign? It is not---repeat---not the way to beat their flim-flam man Obama, and their "Wall Street vs. Main Street" blather he now mimics? Even a poll could tell him that. Michael, I know you don't want some sleazy race-baiter calling you a 'racist,' but the viability of a great nation is now in question, You would know that life is not without risks.

A reminder from Michael Reagan......

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++

The top-rated talk-show host and Newsmax columnist told the 5 million listeners of "The Michael Reagan Show" on Friday that their pockets and those of their fellow Americans were being picked clean by the panic-driven bailout. Does McCain even understand that he, as Reagan puts it, is driving the get-away car for these bank robbers who have made the greatest heist in history? If this keeps up, maybe he better just get out of the way and let the Barracuda take over. She has not been trained to make nice with the criminals.

"Democrats Franklin Raines, Jim Johnson, Jamie Gorelick, Penny Pritzker, Chris Dodd and Barney Frank are robbing the American taxpayer, and Republicans in the House and Senate had been tapped to drive the getaway car," said Reagan.

“In a political system where well-paid Democrat operatives can enrich themselves at the expense of the American people with zero downside, there is no incentive to behave properly, when the taxpayer will bail you out. Enough is enough, bad decisions have consequences and those consequences ought to include indictments and jail time for those who cashed in."

Speaking to Newsmax.com, Reagan added: “I hope John McCain will not shrink from pointing the finger of blame where it belongs – at Barack Obama, who fed greedily at the trough of Fannie Mae and Freddie Mac while their top people, including two of his own campaign associates, were flim-flamming the American people. It’s a Democratic scandal from beginning to end, and the American people deserve to know it.”

http://www.newsmax.com/insidecover/michael_reagan_bailout/2008/09/21/132947.html?s=al&promo_code=6AE9-1

Truther

At least Joe is not afraid to talk before a camera,and stands on his own 2 feet. As we attempt to take doors off of offices in Washington, McCain is closing them at the UN. To protect Sarah Palin from exposure he has disallowed the presence of a video crew in these meetings. So after Sarah gets done talking about baby diapers with foreign leaders, McCain forces them out of the room.

BOO!

FK

Mjfell --

So if I understand correctly . . . it's two years of the Democrats controlling Congress that caused the economic mess we're in . . . not 7 3/4 years of Bush policies, including an unnecessary invasion of a country that did not attack us, in the very region from where the bulk of the world's oil supply comes?

And, as I recall, the downturn in the economy started just a bit earlier than when you are saying it did. Just a 'bit'.

GilbertWashington

Gringoman cannot even read NewsMax swill:

"Nevertheless, can you do anything to snap Johnny Boy out of his inane and lame take on this historic Democrat-wrought calamity? He even parrots the"greed"cliches the crafty swindlers like. Does he even have a clue that helping these Affirmative Action criminals cover up what they have done to poison the US financial system"

The article is blaming Dems for the BAILOUT not for the crisis:

"The top-rated talk-show host and Newsmax columnist told the 5 million listeners of "The Michael Reagan Show" on Friday that their pockets and those of their fellow Americans were being picked clean by the panic-driven bailout"

Facts however are impediments to Gringoman:


Maybe Gringoman is referring to Democrats like Henry Paulson,and Ben Bernake as they are the ones crafting the mechanics of the bailout.

This morning Gringoman told us that Alan Greenspan was more of an enemy than Osama BinLaden. Hey, that was a couple of hours ago. Now it's socialists and democrats, or was Gringoman referring to Greenspan?

We see from the post above that Gringoman has had his morning kool-aid and is back on wing-nut messege.
Christ, even NewsMax seems liberal compared with Tontobobo.

SteveOk

I've said all along that Obama shot himself in the foot with Joe Biden. The guy is a goof. Now he criticizes the Obama ad, and then criticizes the bailout program (which is at odds with Obama). Biden has every right to disagree with Obama, as he should, but anyone with an ounce of gray matter would keep his mouth shut unless the difference was so great he had to resign. All this on top of Biden saying Hillary would have been a better choice for VP.

Speaking of Hillary, has anyone seen Hillary since the Democratic Convention? Is she in hiding? I thought she said she was going to do everything in her power to elect Obama? I guess that is like OJ saying he was going to find Nicole's killer, just a load of bs.

mjfell

Mjfell --

So if I understand correctly . . . it's two years of the Democrats controlling Congress that caused the economic mess we're in . . . not 7 3/4 years of Bush policies, including an unnecessary invasion of a country that did not attack us, in the very region from where the bulk of the world's oil supply comes?

And, as I recall, the downturn in the economy started just a bit earlier than when you are saying it did. Just a 'bit'.

Posted by: FredK2929 | September 23, 2008 at 04:34 PM

Fred--

The economy was humming along pretty well until recently, when the sheer weight of all that bad paper became too heavy for America's financial system to absorb. Especially in the last couple of years of Democratic oversight (or should we say, lack thereof).

The SEEDS of this downturn were sown long ago:

http://ibdeditorial.com/IBDArticles.aspx?id=306370789279709

By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM PT

Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it's dysfunctional, Democrats during the Clinton years are a prime reason for it.

Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the 'trickle-down' economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.

But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street's most revered institutions.

Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.

The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but 'predatory.'

Yes, the market was fueled by greed and overleveraging in the secondary market for subprimes, vis-a-vis mortgaged-backed securities traded on Wall Street. But the seed was planted in the '90s by Clinton and his social engineers. They were the political catalyst behind this slow-motion financial train wreck.

And it was the Clinton administration that mismanaged the quasi-governmental agencies that over the decades have come to manage the real estate market in America.

As soon as Clinton crony Franklin Delano Raines took the helm in 1999 at Fannie Mae, for example, he used it as his personal piggy bank, looting it for a total of almost $100 million in compensation by the time he left in early 2005 under an ethical cloud.

Other Clinton cronies, including Janet Reno aide Jamie Gorelick, padded their pockets to the tune of another $75 million.

Raines was accused of overstating earnings and shifting losses so he and other senior executives could earn big bonuses.

In the end, Fannie had to pay a record $400 million civil fine for SEC and other violations, while also agreeing as part of a settlement to make changes in its accounting procedures and ways of managing risk.

But it was too little, too late. Raines had reportedly steered Fannie Mae business to subprime giant Countrywide Financial, which was saved from bankruptcy by Bank of America.

At the same time, the Clinton administration was pushing Fannie and her brother Freddie Mac to buy more mortgages from low-income households.

The Clinton-era corruption, combined with unprecedented catering to affordable-housing lobbyists, resulted in today's nationalization of both Fannie and Freddie, a move that is expected to cost taxpayers tens of billions of dollars.

And the worst is far from over. By the time it is, we'll all be paying for Clinton's social experiment, one that Obama hopes to trump with a whole new round of meddling in the housing and jobs markets. In fact, the social experiment Obama has planned could dwarf both the Great Society and New Deal in size and scope.

There's a political root cause to this mess that we ignore at our peril. If we blame the wrong culprits, we'll learn the wrong lessons. And taxpayers will be on the hook for even larger bailouts down the road.

But the government-can-do-no-wrong crowd just doesn't get it. They won't acknowledge the law of unintended consequences from well-meaning, if misguided, acts.

Obama and Democrats on the Hill think even more regulation and more interference in the market will solve the problem their policies helped cause. For now, unarmed by the historic record, conventional wisdom is buying into their blame-business-first rhetoric and bigger-government solutions.

While government arguably has a role in helping low-income folks buy a home, Clinton went overboard by strong-arming lenders with tougher and tougher regulations, which only led to lenders taking on hundreds of billions in subprime bilge.

Market failure? Hardly. Once again, this crisis has Democratic fingerprints all over it.

FK

Right. Because it would behoove you to examine how Republican policies have contributed to the problem. It always has to be the Democrats' fault.

Like after the L.A. riots, Dan Quayle had to go back a few decades and blame Lyndon Johnson.

Pathetic.

SteveOk

We just went through a massive corporate scandal back in the 2000 to 2003 time period when corporate executives were charged and convicted of cooking the books. Now once again we have a corporate meltdown. The root cause then, and once again, is the fact that the politicians (both Democratic and Republican) in DC and the corporate fatcats have this symbiotic relationship where money flows like the mighty Mississippi River between the two. There is a constant breakdown in the regulation process of corporate America because the politicians in DC are bought and paid for by corporate executives.

Now with the economy in shambles we are held hostage by these same bandits who are extorting $700 billion dollars from the American taxpayer. No, let's not pay them $700 dollars, instead let's round them up and throw them in jail and throw away the key.

gringoman

Gringoman, help me out here. Do I need to send this fool[Gilbert Washington] a bill for free psycho-analysis?

Posted by: Ummah Gummah | September 22, 2008 at 05:12 PM

Ummah,

Good luck with trying to bill an Offended Black 'Republican'. Anyway, he's proud of being a smear merchant. How could you bill him? He doesn't even think he's twisted.

FF did it to him? Sounds like he can't even eat a potato, or potato chip, that hasn't been slathered with margarine de Franz Fanon. That's the African who tells him how he is 'colonialized' by Whitey. Get it? You could say that FF destroyed his mind, but is that giving either of them too much credit?

You need to cut him a little slack, Ummah. Notice his 'lingo skills'? He composed a sentence or two in social-promotion French, remember? The nice lib teacher didn't have the heart to flunk him. It might affect the funding, too. Maybe, like his lib gofer Fred, he really is above GED level? (Don't you think Fred is? Maybe Fred really is Ivy League. Isn't the Ivy League changing? So maybe White Lib Jerk is not an impostor, despite the whiny fish market attitude?)

The GW syntax? I don't think Gilbutt is quite sub-literate. Border-line, maybe. Sure, he could work on his painful syntax, digging into Franz Fanon. He would enjoy that, finding more reasons to be The Offended Black in Le Monde de Whitey....Who knows? The OSM (Obamasuck Media) might find a use for him. Some might even get a tingle up their legs, proving to themselves their "secular humanity".

It could be warm and fuzzy. They'd look at him in the way you can imagine Fred would.

Ummah, I suspect you're glad you wouldn't be there for such a tender secular humanist moment. You wouldn't need to listen in as they smirk about "fascists" while their Chicago thugs blitzkrieg radio stations daring to air scholar Stanley Kurz on the Obama-Bill Ayers Connection.

The funny thing about GW? He attacks Gringobro, and doesn't even realize that he himself is doing NPR blackface.

mjfell

Right. Because it would behoove you to examine how Republican policies have contributed to the problem. It always has to be the Democrats' fault.

Like after the L.A. riots, Dan Quayle had to go back a few decades and blame Lyndon Johnson.

Pathetic.

Posted by: FredK2929 | September 23, 2008 at 05:26 PM

Fred-

If you go back and look at the facts you might discover that Quayle was right. It's always the Democrats that try to "lift the underclass" with their tax and spend governmental programs. What the Johnson "Great Society" programs sowed were the seeds of the welfare state.

GilbertWashington

Gringoman wants no socialistas on Wall St:

Socialism, we are told, is the naiveté of youth, and a fallacious economics the United States has luckily spurned. The late Seymour Lipset, an well-known academician, penned a book in 2001 entitled It Didn't Happen Here: Why Socialism Failed in the United States.

Alas, nobody ever told the leaders of American finance. Whereas the old style of socialism elected no more than a handful of mayors and congressmen, Washington has now embraced a new variety that could not be more different in its class consciousness and privileged sponsorship.

I am talking, of course, about the collectivization of financial risk being promulgated by the Federal Reserve Board and the U.S. Treasury Department and applauded in pin-striped precincts from Park Avenue to Pacific Heights. Described as Wall Street Socialism by the gauche and more precisely identified as the "socialization of risk" by sophisticates, the new fashion leaves the profits of finance in private hands as of yore. It is only the "risk" -- of collapsed currencies, flawed speculation, busted hedge funds or the greedy misjudgments of large banks or brokerage firms -- that is quietly taken up by government entities and all too often shifted to taxpayers who do not understand the pompous phraseology but know full well that Washington will never bail out their hardware store or the widget plant where their son works.

This has been going on for decades -- a major reason why finance has grown and prospered so much compared with most other industries. But it's only been so boldly and shamelessly embraced in the last few weeks. The Federal Reserve insists that "inter-connections" require rescuing large institutions that might knock down other entangled financial dominoes. However, these would not have been so cocky or so inter-connected in their web-spinning if the Fed had not allowed so much greed and gamesmanship for so long. Ex-Fed Chairman Alan Greenspan is often singled out as a culprit, but most of what he did was what most of the financial sector wanted. They, too, loved making 4th of July speeches about the glories of free enterprise and free -- market profits while counting on the government to collectivize the perils of risk. Big, fat and dumb financial institutions could count on being big, fat and bailed-out.

There was a time in the annals of American finance when this kind of practice would have been unacceptable -- indeed, serious economists like Joseph Schumpeter recognized that "creative destruction" was part of a vital capitalism. Painful as the depression of the early 1930s was, its creative destruction so revitalized U.S. finance and enterprise that by 1950, the U.S. economy was the kingpin of the post-World War Two world, vital and vibrant.

Even the sharp 30% Wall Street correction in 1969-1970 turned out to be a financial purge that refreshed. In the period between 1969 and 1970, the twenty-eight largest hedge funds saw 70 percent of their assets disappear, and roughly one hundred brokerage firms were acquired or disappeared. Then came the 1980-82 period, when Federal Reserve Board chairman Paul Volcker broke the back of runaway inflation by putting the stock market and the U.S. financial system through the wringer with interest rates that hit a brutal 18 percent. Adjusted for inflation, the Dow-Jones Industrial Average lost some nearly half of its value between 1978 and its bottom in the summer of 1982. Business Week even ran a famous cover story on "the death of equities." However, far from falling into a grave, equities rose for two decades in what became the biggest bull market in American history.

But this is where Risk Socialism began to rear its head. The dangers of creative destruction in the marketplace were rejected. Bail-outs and government intervention became the norm. Big investors were upheld through everything from foreign currency bail-outs to the rescue of major banks. In 1998, the Federal Reserve arranged a bail-out of a well-connected hedge fund and now in 2008 it's katy-bar-the-door in Washington aid for the financially undeserving. And hardly anyone stops to figure out that the quarter-century suspension of anything resembling creative destruction or traditional market forces is the culprit. The inevitable chimera of economic collectivization is coming undone.

Will ordinary Americans pay much of the price? Almost certainly. Should they blame what happens on marketplace forces? No, because the historical operation of such forces has been stymied and suspended. Should they blame the political and financial proponents of Risk Socialism? Yes, because the longtime genius of American capitalism may be on its 21st century deathbed.


Truther

It is interesting that Republican are blamed (by 3/4 Americans) fo rthis financial crisis. Clearly, liberal types were involved and took advantage of the deregulated environment. So why? My guess, is that the Conservatives are expected to be fiscally responsible, and clearly they were not. Then to request the socialization of Wall St, is simply astonishing.

Truther

Why don't the bankers increase the interest on personal savings accounts, to generate more liquidity?


GilbertWashington

Fred sees more in Dan Quayle than in Sarah Palin:

"Like after the L.A. riots, Dan Quayle had to go back a few decades and blame Lyndon Johnson"

My favorite Quayle remark came at a press gathering where DQ was asked about the homeless problem in america. Dan replied that these were not homeless, they're urban outdoorsmen.

A similar remark from Palin would resonate in that given the extreme temperatures in Alaska anyone surviving outdoors would earn the title.

Moreover is the riotus conclusion drawn by a different Dan; Dan Cameron-Rodill who has pontificated with certainty about the coming race war whch will ensue should Obama be cheated at the polls like Gore or Kerry.
While it remains to see if Dan the lesser has a bead on black america another bullet need to be dodged by what Paulsen told Congress today; namely that a riot may break out if congress does swiftly adapt the REPUBLICAN proposal to avert the mess that they themselves created.
So the prophisized race riots may remain on hold should white folk start burning Wall St first.
Dan (the lesser) has already indicated that he will side up with Napoleon.

Truther

My friend, the psychiatrist, says he recognizes the symptoms of megalomania among these Wall St guys : bags under the eyes, crazy impulses, and beliefs that they can control the world, ..., and then depression and threats. They .. are in need of a serious shrink.

J. Pierpont Finch

SOME GOOD NEWS for a change!

Democrats to let offshore drilling ban expire

http://news.yahoo.com/s/ap/20080923/ap_on_go_co/offshore_drilling

No if we could just clear ANWAR for energy exploration and press ahead with nuclear, clean coal gasification, natural gas, wind and solar....

Ree

Who knew what when? Obama has some splainin to do.

http://www.youtube.com/watch?v=usvG-s_Ssb0

Account Deleted

So here is the deal ... or here are the deals, literally:

- Warren Buffest will invest $5 billion in Goldman as a vote of confidence in the American financial system.

- Nomura (a Japanese investment bank) will buy Lehman's European and Mideast operations.

- Mitsubishi UFJ Financial Group will put $8 billion + into Morgan Stanley.

- Bank of America already bought Merrill.

And just to add color to just another day on Wall Street (!), the FBI is investigating fraud at Lehman and AIG ... and! ... Freddie and Fannie.

So maybe we don't need that $700 billion bailout after all. Maybe we can ask the banks to return the money to taxpayer if we do lend them the money. Maybe US fundamentals are really strong (as otherwise why would these investors invest?). Maybe McCain ... well, let's not carried away.

Here is another thought: why don't we insist on shutting down HUD? Their outlays are about $45 billion, but what the bloody hell do they do anyway? Why didn't they warn Congress that loans were going south? They deserve to be abolished and we can recoup our money in ... that magic number, 15 years (700/45).

Bush wants a bailout? Congress should insist on scuttling one department.

Account Deleted

Buffet ... sorry Warren. Please forgive me.

GilbertWashington

More Socialist commentary for Gringo911Dan:

This time from Comrade George Will:

"Unreadiness can be corrected although perhaps at great cost, by experience. Can a dismaying temperment be fixed?"


McCain Loses His Head




"The queen had only one way of settling all difficulties, great or small. 'Off with his head!' she said without even looking around."

This Story
McCain Loses His Head
A Bailout or a Bonanza?
Improving Paulson's Cure
A Lesson the Markets Ignored
Fat Cats First
A Hedge Fund Like No Other
View All Items in This Story
View Only Top Items in This Story
-- "Alice's Adventures in Wonderland"

Under the pressure of the financial crisis, one presidential candidate is behaving like a flustered rookie playing in a league too high. It is not Barack Obama.

Channeling his inner Queen of Hearts, John McCain furiously, and apparently without even looking around at facts, said Chris Cox, chairman of the Securities and Exchange Commission, should be decapitated. This childish reflex provoked the Wall Street Journal to editorialize that "McCain untethered" -- disconnected from knowledge and principle -- had made a "false and deeply unfair" attack on Cox that was "unpresidential" and demonstrated that McCain "doesn't understand what's happening on Wall Street any better than Barack Obama does."


To read the Journal's details about the depths of McCain's shallowness on the subject of Cox's chairmanship, see "McCain's Scapegoat" (Sept. 19). Then consider McCain's characteristic accusation that Cox "has betrayed the public's trust."

Perhaps an old antagonism is involved in McCain's fact-free slander. His most conspicuous economic adviser is Douglas Holtz-Eakin, who previously headed the Congressional Budget Office. There he was an impediment to conservatives, including then-Rep. Cox, who, as chairman of the Republican Policy Committee, persistently tried and generally failed to enlist CBO support for "dynamic scoring" that would estimate the economic growth effects of proposed tax cuts.

In any case, McCain's smear -- that Cox "betrayed the public's trust" -- is a harbinger of a McCain presidency. For McCain, politics is always operatic, pitting people who agree with him against those who are "corrupt" or "betray the public's trust," two categories that seem to be exhaustive -- there are no other people. McCain's Manichaean worldview drove him to his signature legislative achievement, the McCain-Feingold law's restrictions on campaigning. Today, his campaign is creatively finding interstices in laws intended to restrict campaign giving and spending. (For details, see The Post of Sept. 17; and the New York Times of Sept. 19.)

By a Gresham's Law of political discourse, McCain's Queen of Hearts intervention in the opaque financial crisis overshadowed a solid conservative complaint from the Republican Study Committee, chaired by Rep. Jeb Hensarling of Texas. In a letter to Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, the RSC decried the improvised torrent of bailouts as a "dangerous and unmistakable precedent for the federal government both to be looked to and indeed relied upon to save private sector companies from the consequences of their poor economic decisions." This letter, listing just $650 billion of the perhaps more than $1 trillion in new federal exposures to risk, was sent while McCain's campaign, characteristically substituting vehemence for coherence, was airing an ad warning that Obama favors "massive government, billions in spending increases."

The political left always aims to expand the permeation of economic life by politics. Today, the efficient means to that end is government control of capital. So, is not McCain's party now conducting the most leftist administration in American history? The New Deal never acted so precipitously on such a scale. Treasury Secretary Paulson, asked about conservative complaints that his rescue program amounts to socialism, said, essentially: This is not socialism, this is necessary. That non sequitur might be politically necessary, but remember that government control of capital is government control of capitalism. Does McCain have qualms about this, or only quarrels?

On "60 Minutes" Sunday evening, McCain, saying "this may sound a little unusual," said that he would like to replace Cox with Andrew Cuomo, the Democratic attorney general of New York who is the son of former governor Mario Cuomo. McCain explained that Cuomo has "respect" and "prestige" and could "lend some bipartisanship." Conservatives have been warned.

Conservatives who insist that electing McCain is crucial usually start, and increasingly end, by saying he would make excellent judicial selections. But the more one sees of his impulsive, intensely personal reactions to people and events, the less confidence one has that he would select judges by calm reflection and clear principles, having neither patience nor aptitude for either.

It is arguable that, because of his inexperience, Obama is not ready for the presidency. It is arguable that McCain, because of his boiling moralism and bottomless reservoir of certitudes, is not suited to the presidency. Unreadiness can be corrected, although perhaps at great cost, by experience. Can a dismaying temperament be fixed?

georgewill@washpost.com


http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR2008092202583.html

Truther

Thank God, there is absolutely no chance any bill will pass before Oct. 1.

Monica wisely said on MG, that it would be a while before they dealt with this stuff.
We got investigations into fraud and collusion, and a full, rip roaring discussion of multiple dimensions. It has become a circus.

M/M

BREAKING NEWS from America's favorite ANCHORMAN:

FBI is investigating the Pirates - Fannie Mae, Freddie Mac, Lehman Brothers and AIG

http://www.msnbc.msn.com/id/26859850/

Truther

For those escaping federal charges and white collar prisons, there is a chance that some time spent chilling out, perhaps playing bongo drums, wearing berets and dark glasses, on the side end of the island, will be emblematic to other NY'ers, that
they ought to spend less time watching the Bloomberg ticker and more time smelling the roses.

Truther

I meant the south end..... sincere apologies.


GilbertWashington

Gringoman: Franz Fanon could not say it better than Comrade Republican George Will:

"The political left always aims to expand the permeation of economic life by politics. Today, the efficient means to that end is government control of capital. So, is not McCain's party now conducting the most leftist administration in American history? The New Deal never acted so precipitously on such a scale. Treasury Secretary Paulson, asked about conservative complaints that his rescue program amounts to socialism, said, essentially: THIS IS NOT SOCIALISM. THIS IS NECESSARY. That non sequitur might be politically necessary, but remember that government control of capital is government control of capitalism."

Be a good little Gringo and do as you're told. There, there. The party thinks highly of you.

GilbertWashington

MM smells frigging in the rigging:

"BREAKING NEWS from America's favorite ANCHORMAN:

FBI is investigating the Pirates - Fannie Mae, Freddie Mac, Lehman Brothers and AIG"

I'd tell the FBI to pay particular attention to the Shortstop.

M/M

E pluribus hokum or
When the gamblers bail out the casino
By Spengler

"Why should American taxpayers give US Treasury Secretary "Hank" Paulson a blank check to bail out the shareholders of busted banks? Why should the Treasury turn itself into a toxic waste dump for their bad loans? Why not let other banks join the unlamented Brothers Lehman in bankruptcy court, and start a new bank with taxpayers' money? Or have the Treasury pay interest on delinquent mortgages, and make them whole? Even better, why not let the Chinese, or the Saudis or other foreign investors take control of failed American banks? They've got the money, and they gladly would pay a premium for an inside seat at the American table. "
http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html

Here is the Pirate's song - sing along in honor of Wall Street.
http://www.youtube.com/watch?v=3A19q7rysLs



Account Deleted

I love capitalism! ...

"William O. Perkins III says he turned a $1.25 million profit trading Goldman Sachs Group Inc. stock last week.

"You would think that would count as a pretty good paycheck for the Houston energy trader. Instead, the experience left him so angry about the demise of capitalism that he says he has decided to spend his profits on advertisements attacking President George W. Bush's planned $700 billion Wall Street bailout."

- WSJ on-line, 9/23

Barkeep, one more please ...

M/M

I love capitalism! ...

"William O. Perkins III says he turned a $1.25 million profit trading Goldman Sachs Group Inc. stock last week.

"You would think that would count as a pretty good paycheck for the Houston energy trader. Instead, the experience left him so angry about the demise of capitalism that he says he has decided to spend his profits on advertisements attacking President George W. Bush's planned $700 billion Wall Street bailout."

- WSJ on-line, 9/23
__________________________________________________

CALLING ALL CAPITALIST!!!!!! Remember our roots....

"In 1770, American protests led to Parliament's repeal of the Townshend duties — except for the duty on tea retained by the British as a matter of principle. The colonists demonstrated their displeasure with the remaining tax by drinking smuggled tea. The effectiveness of American resistance was shown in the precipitous decline in tea sales in the colonies — a drop of 70 percent over three years.


In 1773 Parliament passed the Tea Act, which gave the English East India Company a chance to avert bankruptcy by granting a monopoly on the importation of tea into the colonies. The new regulations allowed the company to sell tea to the colonists at a low price, lower than the price of smuggled tea, even including the required duty. The British reasoned that the Americans would willingly pay the tax if they were able to pay a low price for the tea."

http://www.u-s-history.com/pages/h646.html


M/M

NO TAXATION WITHOUT REPRESENTATION

http://www.youtube.com/watch?v=_82SPkrB-SE

Ummahgummah

That's right, MM!

And no bailout without INTEREST!

GilbertWashington

Gringoman risks getting airbrushed out of the kremlin photo:

"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."

-- The 2008 Republican Party Platform,


Move over for the Brave New (Republican) World", asswipe!

GilbertWashington

Michael has barkeep pour a second Grey Goose over capitalist romanticism:

"I love capitalism! ...

"William O. Perkins III says he turned a $1.25 million profit trading Goldman Sachs Group Inc. stock last week...Barkeep, one more please"


Leave these capitalist toadies be, Michael, this is after all the new Republican Socialist order.

GilbertWashington

MM shows that former conservatives lacking the new socialist temperment of the party resort to song:


"Here is the Pirate's song - sing along in honor of Wall Street.
http://www.youtube.com/watch?v=3A19q7rysLs"


While on the subject of temperment is this the leader who can navigate the difficult waters ahesd? (sing along Gringo & UG):

Bomb, Bomb, Bomb. Bomb-Bomb Iran

http://www.youtube.com/watch?v=o-zoPgv_nYg

Are Republicans who are OK with torture also clear on the new Exexutive Orders allowing involuntary work details?:
EXECUTIVE ORDER 11000 allows the government to mobilize civilians into work brigades under government supervision.

Gringoman must be orgasmic by now.


Account Deleted

Gilbert,

You impress me. You remembered I like Grey Goose. Try it with Iranian caviar!

Now if we can only convince you of the superior intellectual integrity of the Conservative philosophy.

I'm working on it, my friend.

Cheers,

Ummahgummah

Gillie-boy, when will you say anything substantial instead of harrassing people on this board?

Go back to your KOTZ-kiddies so we can hash out how to limit the damage of the proposed bailout.

But I guess you don't have to pay taxes so you can afford to spew your incoherent mispelt nonsense.

Ummahgummah

MA,

You sure call some odd people your friends..

One day you may have to own up to that, much like one Barak Hussein Obam who counts Rev. Worng and Bill Ayers among his friends while his brother lives on a dollar a month in a hut in Kenya.

They need some ACORN action in Kenya it would seem!

Ummahgummah

"n"pr just had the ultimate in Pro-O propagada, talking how he was in favor of drilling against the wishes of the libs in his party and that he is always looking for bi-partisan solutions and what a confident pragmatist he is.

ROFLMAO!!

Then they announced their next segment on how does McCain deal with setbacks.. hmmm... I think I know what it's gonna be.. Let me guess.. he gets mad and throws tantrums and wants everything his way.. so UNLIKE the Anointed ONE.

Oh and right now they're having a minute of silence for "nine more" troops killed overseas.. they just HAD to have that right before they start unloading on McCain.

I guess that's what passes for journalism on the left.

The entire piece is designed to reassure and herd in wavering white liberals who are unsure about whether Osbama really is Jesus after all..

Transparent..

Ummahgummah

Are Republicans who are OK with torture also clear on the new Exexutive Orders allowing involuntary work details?:
EXECUTIVE ORDER 11000 allows the government to mobilize civilians into work brigades under government supervision.

Gringoman must be orgasmic by now.


Posted by: GilbertWashington

----

And here you had us thinking that you were a Republican! My my my, you are surely OUT, boy!

Truther

David Stockman told them all, that they were stupid.

Truther

Recall that Reagan ran the largest debt ever - 1 trillion dollars, and this was larger
than all the previous national budgets summed.

Truther

Reagan is just like McCain in many respects - a double agent.

Reagan was actually a liberal, and this was reflected in his spending.
To run as a Republican, he gave a tax break to the wealthy.

Being a sort of political schizophrenia, it actually was thought to be a type of economic plan. John McCain could do something like this also. He says we need reform( capitulation to left) , and at the same time he is telling us everything is fundamentally sound (capitualation to right). He could form a new type of political action - a stable chaotic regime. The idea is that instability leads to a shakeout which produces more stability. Applied to the stock market, it would suggest that a bouncy DOW would, in the long term be beneficial.

M/M

Contact Congress and tell them what YOU think about this bailout and WHAT you don't like about it.

http://www.senate.gov/

http://www.house.gov/

M/M

Here is Michelle Malin urging people to call your elected officials to "Kill the bailout"

http://michellemalkin.com/

M/M

Speaking of Biden's experience:

Here is is Biden discussing how FDR got on tv in 1929, during the stock market crash, to lead the country during the financial crisis. Hotair critiques it for you.

http://hotair.com/archives/2008/09/23/biden-on-fdrs-management-of-the-1929-crash/

FK

I really know who I'm dealing with when I hear someone on this site stick up for Dan Quayle. Geez.

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