Bailout fallout: Bush to speak at 8:45am Eastern
You can pretty much write what he’ll say in your sleep: Doing nothing is not an option. The costs of inaction outweigh the costs of action. Homeownership must be “preserved.” “Stability” must be achieved. Americans are suffering. We need bipartisanship in this volatile time.
Translation: More special-interest goodies for the next bailout bill!
The AP wire reports:
Top congressional and White House officials, stunned when the House rejected a massive rescue plan for the nation’s economy, scrambled to structure a new bailout proposal that would attract reluctant lawmakers and still soothe the unnerved financial markets.
“Doing nothing is not an option,” House Majority Leader Steny Hoyer, D-Md., said after seeing the $700 billion emergency package for the nation’s financial systems fail 228-205 on Monday.
With the House not scheduled to meet again until Thursday, congressional leaders and Bush administration officials promptly sought to assess what types of changes could win over enough votes to guarantee success. President Bush planned to make a statement on the rescue plan at 8:45 a.m. EDT Tuesday.
Now, compare how the Agence French Press is spinning the defeat of the bailout — cherry-picking the most dire reactions under the Chicken Little headline, “Financial carnage leaves Americans fearing the worst” — with these two items:
*Item One: Wall Street Credit Crisis Rings Hollow on Main Street
The NFIB’s chief economist, William C. Dunkelberg, said in an exclusive interview this week that the organization’s monthly survey of economic conditions has yet to detect anything that would indicate severe credit stress among its members. Only 2 percent of those polled said credit was their No. 1 problem in its August survey. Credit was mentioned as a problem by 10 percent of those surveyed, which is up from about 3 percent in 2002. But the change is normal. “Is credit tighter? Yes,” Dunkelberg says. “But it’s always tighter at the end of the quarter.”
In comparison, during the 1981-82 recession, 23 percent of small business owners said credit was their No. 1 problem. Even during the stock market crash of 1987, which saw the Dow Jones Industrial Average plunge 22 percent in one day, credit was never a major issue for small companies, he said. “We looked at our data, and the economy kept going until 1991. It is true that AIG stock is down and bank stocks in people’s portfolios may be down, but looking at the fundamentals of the economy, it’s not even as bad as 2001,” he says.
“Bank of America may not be making car loans because it’s short on capital, but I can’t imagine why it would be difficult to get a car loan, unless the borrower is not a good credit risk,” says the NFIB economist. “If you are looking to borrow 100 percent of the retail value of the car, no, but car loans are available.”
According to the NFIB’s survey, the No. 1 issue among small business owners is inflation. Of those surveyed, 18 percent said rising prices, from surcharges and higher fuel prices to rising utility bills and higher materials costs, is their biggest worry. “It’s coming in the back door,” says Dunkelberg.
But not all small business groups share that view. The National Small Business Association (NSBA) says 55 percent of the small business owners it polled in February had been affected by the credit crisis. That number increased to 67 percent in August. The three biggest concerns, however, were general economic uncertainty, rising energy costs, and the rising cost of health care.
Small-firm demand for loans has also significantly decreased in the past three months. About 15 percent of large domestic banks, on net, experienced weaker demand from small firms; however, 5 percent of these banks, on balance, reported increased demand from large and middle-market firms, the NSBA noted, citing Federal Reserve data.
But Dunkelberg says that may be more a reflection of the slowing economy rather than a credit crunch.
Item Number Two: No credit freeze on Kern’s Main Street
Bakersfield residents — qualified ones — can still get home, car and business loans, local lenders say, despite Wall Street’s throes.
“We are open for lending in Kern County,” said Neil Marshall, chief financial officer at Kern Federal Credit Union.
As with other credit unions, home and car loans are a staple for Kern Federal, a $270 million-asset institution that opened in 1949.
San Joaquin Bank, meanwhile, a business bank headquartered in Bakersfield, is also making loans and maintaining lines of credit.
“We’re accommodating all of the credit requests of our customers,” said Bart Hill, chief executive officer of the $878 million-asset bank.
Applicants must be qualified, they say, and plenty of people do get turned down.
“Marginal borrowers just aren’t going to make it,” said Beth Cheatwood, branch manager of Medallion Mortgage, an affiliate of Bakersfield-based mortgage bank Golden Empire Mortgage Inc..
Medallion Mortgage is “still getting applicants like crazy,” Cheatwood said, as local home prices decline.
Bailout fails. World goes on.
***
More food for thought from a correspondent of Andy McCarthy’s as the mad scramble for a do-something alternative continues today:
… as for alternatives:
- how about reinforcing FDIC to give people confidence in their savings? Maybe more support for money markets?
- How about cutting corporate taxes or cap gains taxes?
- How about buying up (or financing the purchase of) the AAA securities that currently are having trouble moving but are not “toxic,” in order to increase liquidity and help with possible insolvency for healthier institutions rather than the old line investment banks?
- How about doing something about the silliness of the $62 Trillion Credit Default Swap market (e.g. the margin requirements, etc…)?
- How about immediately changing mark-to-market rules?
- And – heaven forbid – how about belt-tightening in Washington? Don’t hold your breath – but imagine what a signal that would send – a freeze in discretionary spending, a moratorium on earmarks and a real plan to educate America about entitlements and talk about the need to get our fiscal house in order.
It is very concerning how much the Washington Republican / Conservative establishment is jumping in line behind this bill because, we are told, we “must do something.” Since when is that EVER a good thing in Washington?
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Good morning!
Now IF McCain can just take the “lead” on these other alternatives suggested, we just may have a shot at showing the nation that republican, conservative ideas are what this country needs.
Also, Washington needs to implement that spending freeze NOW that McCain was advocating in his debate.
Please McCain, get tough…the country needs you!
Americans are paying a price for electing a president/commander-in-chief, who was himself bailed out by .. ou guessed it, Saudis and terrorists: http://www.historycommons.org/context.jsp?item=a1988failedman
I’m waiting for the positive, real proposal that will deal with the current problem.
The RNC needs to make a series of commercials with all these Dems running their mouths that no crisis existed at Fannie/Freddie and the cover up they perpetuated. It should also include the number of times the Dems stopped the increased regulation to prevent this mess in the first place. Run them in every battleground state and some that are not but could be. Then see the result of the “predicted” landslide.
This bailout is not necessary and is a scare tactic. It needs to be stopped.
If individuals on the internet can do it, why can’t the RNC?
Light rain here now, but I’m positive the sun will rise in an hour or so! All is well, thank God.
Zorro, whew! I was sweating that on the west coast thanks for the heads up! lmao….
Michelle, I have a question for you. It bears on a long argument I had with Ace tonight, where he’s supporting the bill and me steadfastly opposed until it AT LEAST repeals the CRA.
The question is this: IF the bailout had a repeal of the CRA added, could you get behind it?
Qwinn
ConMom, you are right. McCain needs to take a positive leadership role today. He has been a BIG disappointment so far.
Instead of using his energies to get republicans to cave in on a bad bill he should be pushing for a more common sense approach like immediately changing the mark-to-market rules and calling for the resignation of Paulson.
I thought McCain missed a HUGE opportunity in the debates with this. Lehrer kept pushing, asking what priorities would have to be cut due to the credit crisis. If I were McCain, I would have replied that “Jim, my priority is to cut wasteful spending, so this problem means I need to do more of what I came to do, not less.” To folks like Lehrer, a president has a “program”, which means boatloads of wasteful spending. Well, that is what Obama wants to do, but not McCain.
I wish these media types would get some perspective. There is certainly room for short term concern when the market corrects (as it is supposed to do), but this mass hysteria is wholly manufactured and phony on it’s face. The market is correcting; the sky is NOT falling.
If you want to know who’s responsible for this, look to Capitol Hill. These bleeding heart morons have mandated that lenders give money to people to whom they normally wouldn’t because of the risk of not getting repaid. Of course, these crappy business practices were going to be covered by Government Sponsored Enterprises, so the behaviors just became riskier. It was only a matter of time before the bottom dropped out. This snake has been eating it’s own tail for as long as I can remember.
Defying all doom and gloom predictions, the foriegn markets are not crashing and burning this morning, and DOW futures are way up. Take a deep breath. The worst thing that could happen at this point is for Fedzilla (as Mr. Nugent likes to refer to it) to artificially, and ultimately temporarily, prop up the market for political expediency.
Wouldn’t it be funny if Bush proposed a free market solution, like the one they now have in the House and have the votes to pass according to the House Conservatives. That would shake thins up, Bush thinking outside of the box.
Back to sleep, it was just a dream.
Ditto that! With everything that Michelle laid out about him and the piece I read at American Thinker (Barack Obama and the Strategy of Manufactured Crisis — EVERYONE MUST READ!) I am highly suspect of his motivations.
Hubby and I were talking about this for two days and when I stumbled upon that article this morning I was blown away!
Whether or not you believe the bail-out is necessary, here’s a question that’s been nagging at me: I can’t bear to look at The Zero’s website (maybe I’m blinded by the glare of his majesty, or maybe it’s the smell), but is Mr. Sociopath still running as the grand unifier? Or is that meme as stale as last week’s bread? Heck of a job he’s doing if he still is. Maybe he’s working on the oceans right now, and we need to cut him some slack. But I thought he could multi-task? Oh, I’m so confused.
On a more serious note, I’m waiting for McCain to demonstrate his “reform” credentials by clearly demonstrating how we got here in the first place in a way that isn’t perceived as just finger-pointing, but as a moment of genuine revelation of the sickening corruption, going back years and crossing party boundaries, that was the genesis of this mess.
If anyone still needs proof that we don’t need more government this has to be it!
I see the Asian market has not tanked.
I plan to buy up some stock today…..great time to buy folks!
Yesterday’s vote shows the weasels can here the drums. They’re now more afraid of losing their phoney-baloney jobs than they are of nancy p-yew.
Keep calling. keep E-mailing. Keep pestering them.
One prominent group of nearly 200 economists from the University of Chicago, MIT, Stanford, Harvard and dozens of other institutions have asked Congress to pause and spend at least a few days hearing testimony on the plan. The concerns of so many distinguished economists, including several Nobel Laureates, that sufficient deliberation must be taken before enacting such a consequential plan, should give pause to policymakers in Washington.
Their letter and objections are below:
To the Speaker of the House of Representatives and the President pro tempore of the Senate:
As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:
1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.
2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.
3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America’s dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.
For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.
Yeah, but if, 1. There’s some extra money in your account that you don’t need for buying food, gasoline, etc. 2. Your bank still exists!
McCain almost stopped Øbama’s heart when he suggested a spending freeze, but that is what we need.
Next: ads to counter those linking McCain to Bush on the “fundamentals of the economy are good: screed. (did those sphincters ever hear of reassuring the market?)
How about some with McCain’s warnings years ago about the potential collapse of F/F, followed by Fwank and Schumer’s statements to the contrary? Link Øbama to the poof and the market wrecker.
Looks like the American People stood up — as with the Amnesty Bill in `06 — and said a resounding “NO!” to this Bail-out blather, even tying up the Capitol Hill phone lines again, according to Indiana Representative Pence (R-IN). Looks like the people of the USA DO BOT WANT to shoulder this mess!!!
You’d better fire up the phone, and the emails because these fool bastards are about to try it again.
How could “top congressional” leaders be stunned when 8 democratic committee chairmen voted against the thing?
Please. The only one stunned was Pelosi after her little tirade took away her “blame Bush” and the Republicans mantra.
The way this whole bailout was being pushed through without proper scrutiny, the alleged bi-partisan nature of the agreement, the groundswell of grassroots opposition reminds me of another bill that was proposed as the solution to a crisis: the 2007 McCain-Kennedy amnesty bill. That monstrosity nearly passed with srong support from Dems and Bush but vigorously opposed by the American people. When it was shot down we heard the same moaning and crying from Dems and other experts. As it turns out we already had a solution: enforment of existing laws. The more I see about this I am convinced the whole bailout scheme was/is being foisted on us by the political class to protect their interests. There will be economic pain but the markets will stabilize and we will look back on this realize we dodged a bullet.
How about getting rid of Fannie Mae and Freddie Mac!
Don’t hold your breath. McCain and the RNC seem determined to lose this. I’ve never seen people so divorced from reality and lacking commonsense (unless we’re talking Pelosi, Reid, et al.)
After yesterday, the Democrats will probably require Bush and Cheney to dress up like chickens and pole dance in front of Nancy Pelosi and Barney Frank to atone for not frog marching more House Republicans to vote for The Sandwich. In fact, I think Bush is looking for his costume now…
When panic sets in in political D.C., they just blow harder into the balloon as the hole gets bigger.
While both sides saw this coming and some Republicans tried to fix it before it broke, the Democrats live life with no worries. After every crash, the latter points out the nearest Republican as the conductor, e.g. Pelosi’s speech, and then just wheels out another New Deal.
Those who are losing their homes deserve to lose their homes. Where the American people are hurting, is from the illegal aliens, sanctuary cities, entitlements, anchor babies, dial 1 for English, and the overburdened emergency rooms. Why wasn’t Bush so eager to help us with that problem?
This crisis is their crisis, affecting them in their portfolios, and now with the prospect of being voted out of their cushy, perk laden positions of power and influence, their elitist memberships in the club of politics.
Screw them and their panicked, last ditch effort to use taxpayer dollars to protect their wallets after they got caught manipulating and cheating the citizenry.
No bailout. It’s only for them. We are just fine.
Imagine that. Responsible lending.
Hey Laura Richardson. If you can’t get a 100% loan on that new Lexus, try a used Chevy or Ford. I hear you can get a great deal on 2005 Ford Explorers.
Tim Cahill, Mass Treasurer, was on talk radio this morning explaining that he was luckey to get in just ahead of the drop to secure a loan to the state, (I can’t recall what instrument it was?), but it made me start thinking about something that I cannot get out of my head…
He said this money is needed for ‘local aid to cities and towns’. Now it certainly makes sense to me for a growing company to run out and get a short term loan to pay employees especially if there is something like a major purchase order being executed that’s going to pay off at completion for example.
Massachusetts AIN’T ‘growing’ and we sure AIN’T a ‘company’. But here we are borrowing money to pay a chunk of the payroll for public employees and their bloated pensions. Without the loans – many of those government employees would not exist and those remaining would likely be paid an amount much closer to what their job is really worth.
So it really isn’t just people who aren’t making their mortgage payments – it’s whole states, cities and towns all caught drinking from the same trough. It’s like you and I writing each other a check for ten million dollars, post date them ten years from now for when we retire and then thank ourselves for a wonderful pension plan!
What our republican friends and their democrats allies have really done here is a HUGE shot across the bow of BIG GOVERNMENT.
Yea, we know…Bush lied and people died, blah, blah, blah.
Could it be that we’re paying the price of re-electing the same crooks and sending them back to Washington. Yes, that would include the crooks on the Democrat side of the isle too.
Your moronic Bush bashing is the same mentality that sends Pelosi, Shumer, Dodd, Frank, Kerry, Murtha, Rangel and their ilk to Washington thinking that somehow they give a damn about you or anyone else but themselves. So, go ahead a bash Bush, re-elect one of your liberal crooks and then bend over because it’s coming again.
Dance,
very good post. The taxpayer funded bloated pensions are long overdue for
a cleansing. I would like to see them tied to average pension of those paying taxes in the locality they “earned” read extorted them. Would also like to see a report on how many people are losing their homes due to overtaxation vs the sob story of can’t pay mortages story line we see.
Newsflash:
new story line is joke is on GOP Dubya’s war can’t be funded now.
lmao it is funny stuff
Well, no crash yet, though as I write this Bush will be speaking in a few minutes so there is still plenty of time for a crash. Is that Bush Bashing too? Maybe so, but Bush wallowed in the culture of big spending government, failing to veto a single spending bill until the Democrats took over in 2007. Thus he undercut whatever credibility he had on the issue of fiscal responsibility.
Let me be clear on this: Bush’s problem was not that he was stupid or deceitful, but that he was essentially an amazingly lazy president whenever it came to crucial reform. Firebells could ring incessantly in the night, but all that he would do was mumble some curses and put the pillow over his head as he went back to sleep. Here’s another example: CIA reform. That was equally vital for the nation’s security. Everybody knew this. What did Bush do? Nothing. And so it went.
Why did the President not come out and announce that he had directed SEC Chairman Cox to suspend mark-to-market? He doesn’t even need Congressional action to do that.
“Doing nothing is not an option. The costs of inaction outweigh the costs of action.”
spot on, Michelle! I just heard his speach and this is exactly what he said!!
Will you pick some lotto numbers for me?
Yesterday I sat and watched C-Span, I listened to the debates.
My stomach turned everytime I heard the phrase “Golden Parachute”…
Nancy Pelosi was the whipped cream on the “s–t sandwich”… THEN, the vote came. I stared for 30 minutes until the gavel went down.Thank You God!!!
The way I’m seeing this mess is simplistic I guess. The GOOD companies will stay in business because they followed the rules. The ones that go under… Well, I guess they didnt.
Wow, Michelle..
I think you can add ‘Prophet’ to your resume
Well I went to the link and I am now more nervous than before (how is that possible?>>?). go to #12’s link and read.
I was going online to post that McCain was just on Fox news saying he’s still trying to convince all Republicans to vote on the passage of the “Wailout” but then I read what’s on MM – I think we are losing a battle that is much larger than just this Wailout. Some in Congress are working toward the strategy of taking down America by a Manufactured Crisis. Led by Nobama and his minions.
Michelle, we absolutely need to take this short window of opportunity to push viable alternatives with our friendly congresscritters.
I suggest you and other influential bloggers might be able to create publicity for, and get momentum behind, the “Good Bank” idea. It was on a blog linking from yours that I read it, I think.
If the problem is that our existing banks are so burdened with toxic assets that they can no longer lend, and therefore freeze up the credit market for everyone, then they have become “bad” banks. The best application of government resources to this situation is to use taxpayer money to fund a “good” bank, one that does not have these bad assets on its balance sheet, and can go ahead and make loans to good risks.
This would give credit to where it is needed, still with low risk. Let the toxic assets stay on the balance sheets of the banks and other institutions that gorged on them. If any one institution’s portfolio is heavily overweighted with the low-quality toxic subprime instruments, then that institution is more likely to go under. This is correct, and leaves the risk where it belongs.
Of course, we need more help from the Feds than just providing a good bank, but they already committed to doing the other stuff that would be necessary in this scenario, such as liquidity injection, interest rate adjustments, rule changes and the like.
As a reward for providing taxpayer money to the good bank, we can take a half or quarter point and add it to the interest rate or something. Thus the taxpayer gets rewarded for filling this role, and the borrower sees only a small increase in the cost of money. Some increase is appropriate anyway in these volatile times.
Michelle, please get an idea like this some airplay! Although it’s not the only idea that might work, it’s a strong alternative to the idiotic bailout palooza!
On September 30th, 2008 at 8:33 am, bansharia said:
Dance,
very good post. The taxpayer funded bloated pensions are long overdue for
a cleansing.
Reminds meof the dinner table scene of “The Nutty Professor with Eddie Murphy” thanks for the laugh! I’m gonna cleanse my local colon come November.
McCain is doing NOTHING!! Why the hell have I been supporting this guy? He should have been out there first with the suggestion to raise FDIC to 250k – NOT BHO! McCain should be listening to Newt and fire his advisors – I have had it with this guy!
Remember, he wasn’t the choice of CONSERVATIVES. But he’s who we’ve got.
McCain doesn’t have it in him. He isn’t fighting for survival like he once had to.No fire in his belly. Sad!
what I would like to see..
repeal of the CRA…
Dismantlement of Fannie/Freddie..
when I say dismantle, I mean close down anything that has to do with GSEs..
and the building torn down and sold off brick by brick… the ground it was built on should be returned to it’s natural environment and a wildlife reserve set up there and a big plaque.. to remind everyone what use to be there.
Cicero,
see that we can learn from infomercials and crappy hollywood remakes
Mercy turn off your teevee and go for a walk, cmon now BUCK UP
FACT:
McCain is going to clean obambi’s clock in the economy debate PERIOD
Sadly, some form of bailout will pass. Twelve votes is not a huge margin, particularly when there are Democrats to be swayed.
Fine (not really, but I need to move past this to make my point). Then what next? Banks will still have to follow the Community Reinvestment Act – the very bit of financial lunacy that got us to where we are now. Who is to say that we will not have yet another cycle of bad loans, defaults and bad paper floating around?
After this debacle, world markets might not be so inclined to buy up bundled mortgages without some kind of assurance that the investment is sound (read: mortgages given to people that do NOT have to count welfare as an income source). If U.S. banks still have to follow the CRA and make loans to people that cannot pay them back, then foreign investors will line up to buy U.S. mortgage paper with all the excitement that they would if U.S. banks were giving away Ford Pintos.
Upholstered with asbestos.
And filled with rabid badgers.
This will leave U.S. banks holding MORE bad paper in the future.
If we don’t fix the main cause of this and repeal the CRA, it will just happen again.
I’ll be out back digging a shelter, financed by ME.
Reading everyones input and listening to all these politicians I have a frightening thought.
Just maybe this is NOT a Bailout for Wallstreet OR Fannie Mae/Freddie Mac…
Maybe it is a Bailout for the FED?
Is it possible some of the LOANS we have made in the Past are BEING CALLED IN? China did spend alot of money preparing for the Olympics. And they have LOANED America alot of cash…
Just a thought, what do you think?
Roman Con, I totally agree. Especially with rabid badgers.
I heard that loans to cities and towns would be quashed too. What do you want to bet that those getting loans for their areas are Dems? They don’t have a great track record for matters financial. But do you think the voters will ever catch on? Noooooooooo (in your best John Belushi voice)! The definition of insanity.
I just saw McCain on fox and friends, and he doesn’t have a fire that he needs.
I’m in Florida and I am voting McCain. I put up signs along Highway 19. I will do all in my power to keep this state RED, but the leader of the party better get his crap together and come out with plans and attack the lies of the Dems.
I just don’t see it in him.
I think we need to be more respectful of and sensitive to Paulson’s situation.
How in the world will he afford Ted Kennedy’s Nantucket mansion without the $700 Billion? Congress has made the poor guy have to postpone his appointment at the Lamborghini dealership. Steve Balmer laughed at him when he called yesterday to find out if he liked his yacht dealer. Paulson has sunk so low that William Jefferson wouldn’t even give him tips on how to store cold, hard cash in the freezer.
Won’t you please take pity on our newest Billionaire to be?
dims wanted towns/cities to have cherry picking rights of properties that they could buy from US the taxpayer and grab the profit vs having it go to nat debt. This would be an expansion of an existing program that is in HUD and defaulted FHA type morts. To put it
simply they would have first refusal.
FYI: oddly often these homes are stripped of copper etc once they go on list…reach your own conclusion.
Mercy I don’t know anyone who isn’t tired that cares
Mercy,
sweeet working on the tan and putting up signs: GOP multitasking
hm must be a way to toss a line in too!
fish awnnnn
Got through to Congressman Steve Buyers office this morning and thanked him for not selling out my daughters future and holding the line on this bailout. I said to let the markets correct and work without interference.
bat,
I just can’t wait to see the bill for the swimmer’s tax funded funeral.
The 777 point drop in the DOW yesterday was his fault. A President can’t say the markets will fail without creating a lot of panic selling.
If he was really concerned about the market he would fire Paulson immediately and then bring in an economist to present the case why MOAB is not necessary.
I was listening to Imus in the Morning, this morning, Imus suggested that Bush butt out. That is sound advice, go back to Crawford, clear some brush.
My advice, start packing the china up, put in those change of address slips into the Post Office. READ MY LIPS, no Bail Out
Remember his Dad and the S&Ls?
I don’t think this so-called crisis helps McCain at all. At this moment he’s not gaining in popularity. He’s not really showing the forceful and combative tone that I believe he needs to adopt against Obama and the MSM. No more Mister Nice Guy. The GOP is currently holding the White House, and I think the voters will remember and hold it against McCain unless something very advantageous for him comes out of this. Right now I can’t imagine what that will be.
Poor George (Am I channeling Ann Richards?), he just doesn’t get the whole representative democracy thing. At least John McCain says that he heard the voice of the people when amnesty was shouted down, but George is deaf to the regular folks. The American people rose up again and shouted ‘No bailout! No more socialism! Hell, no!’ and, thankfully, enough of our representatives heard and voted the wishes of their constituents.
With all due respect, Mr. President, be a good lame duck, shrug your shoulders, say ‘aw, shucks, I tried’, fire Paulson and go on vacation for the next five weeks.
Good points. Frankly the White House has killed his campaign. Only coming out against the MOAB will revitalize it.
Lets not forget that 95 dems voted against Pelosi’s bill. In fact nearly half of the CA dems voted against it! Wow, I’m getting choked up a little…
Congress aside, the opposition to this bill crosses party lines.
McCain could be a hero if he rose up against it, but if the economy hangs, he’ll get the blame.
Interest rates need to rise! It is insane that demand for credit is so high that we are allegedly now out of credit, but interest rates haven’t budged.
If there is one thing the French understand it is fear.
Mr. President:
Don’t do anyhing
Just stand there Please.
Doing things got us in this mess.
SanFranNan is on the radio praising Twinkle Toes Barney Franks leadership in this mess.
See what happens when you do things? Community Reinvestment Act.
The Republicans lost the presidential election yesterday. Idiots!
i am seriously beginning to wonder if there isn’t something in the water in washington d.c. people go there with normal intellect, and suddenly turn into blithering idiots. why should we conservatives feel bad that we oppose giving a big blank check to some unelected bozo with a conflict of interest.
No he ain’t.
I say, let the “moderates”, democrats, and liberals that got him the nomination go ahead and vote for him.
As a conservative, I will not.
My vote is going to Alan Keyes, and I encourage conservatives to do the same. It’s too late to build a new party in time for this election, but I think it’s high time we got conservatives from the Republican, Libertarian, and Constitution Parties to the table to form one party dedicated to saving America from those who refuse to stand up for the Constitution. Here is a fine platform for that party, built from the platforms of the Libertarian and Constitution Parties, as well as the New Federalist Platform presented at reagan2020.org.
We need not stand for this any longer. Use the platform above in deciding whom to vote for in this election, and let’s unify America’s conservative factions and take it back from these socialist thugs!
RWR
http://www.rightwingrocker.com
I disagree.
McQuarterPounderWithCheese will only go down if Oblahma somehow stops doing STUPID THING AFTER STUPID THING.
Of course, you can always count on a Republican to snatch defeat from the jaws of victory.
RWR
http://www.rightwingrocker.com
Now I understand how so many people got into mortgages they couldn’t afford. Basically, they just aren’t that smart. Sadly, this country is overrun with not so smart people.
Pres. Bush and all the liberal/RINO Republicans can kiss my a$$. These people, like the entrenched/partisan Dems, no longer care about this country. They want to sell the country to the Chinese and our creditors until there’s nothing left.
People are more consumed with reactionary worry about their retirements and 401K’s than about the fate of their own country. I’m so sick of it. A lot of Americans will believe in capitalism when it suits them but when the risk and shady dealings don’t pay off, they want their own “golden parachute” of socialism to soften the failure.
This is just depressing. People were cheering this crap at an Obummer rally today. They want their part of the treasury at the same time they can stick it to the rich dude. Just another part of the great hypocrisy sandwich that is America, I guess.
If America and her citizens would just pay off their debt and stop relying on credit, we, as a nation, would be much better off.
“your liberal crooks”? Is this the best you can say in defence of the corrupt and timid POTUS? Try taking off the party prism and think.