Obama, the socialist New Party, and the socialist Bush Treasury Department

By Michelle Malkin  •  October 9, 2008 05:59 AM

There’s a lot of blog buzz over Barack Obama’s membership in the socialist New Party. You can read about it here, here, and here.

A year ago, I might have gotten as worked up about this as everyone else seems to be.

But after watching a GOP White House and Republican collaborationists fork over billions upon billions in socialist aid to private businesses, presiding over the most massive nationalization efforts I’ve seen in my lifetime over the past year — and then watching John McCain pitch his Treasury Department-as-national loan servicer plan during the debate — it’s hard for me to muster up much more angst than I already have.

Read today’s headline, people: U.S. May Take Ownership Stake in Banks:

Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.

Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks’ balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones.

The Treasury plan was still preliminary and it was unclear how the process would work, but it appeared that it would be voluntary for banks.

The proposal resembles one announced on Wednesday in Britain. Under that plan, the British government would offer banks like the Royal Bank of Scotland, Barclays and HSBC Holdings up to $87 billion to shore up their capital in exchange for preference shares. It also would provide a guarantee of about $430 billion to help banks refinance debt.

The American recapitalization plan, officials say, has emerged as one of the most favored new options being discussed in Washington and on Wall Street. The appeal is that it would directly address the worries that banks have about lending to one another and to other customers.

This new interest in direct investment in banks comes after yet another tumultuous day in which the Federal Reserve and five other central banks marshaled their combined firepower to cut interest rates but failed to stanch the global financial panic.

In a coordinated action, the central banks reduced their benchmark interest rates by one-half percentage point. On top of that, the Bank of England announced its plan to nationalize part of the British banking system and devote almost $500 billion to guarantee financial transactions between banks.

Socialism is here and now.

***

J H Lee agrees.

Posted in: Subprime crisis

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  4. The Hunt for Red Obama « Above My Pay Grade!
  5. Obama’s Ties to Radical, ACORN-Allied ‘New Party’ in Illinois : Ft. Hard Knox
  6. Obama’s Ties to Radical, ACORN-Allied ‘New Party’ in Illinois « Green Country Values
  7. Obama was a Member of Socialistic "New Party" | The Daily Conservative
  8. Obama’s Socialist Party Membership « Truthseeker
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  12. Obama, the socialist New Party, and the socialist Bush Treasury Department « Thoughts Of A Conservative Christian
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Comments


  1. #101
    On October 9th, 2008 at 10:59 am, right4life said:

    here’s a line from Markman’s current article on moneycentral:

    “The lobbyists made sure this bill was rammed through so that these rip-offs couldn’t be fixed in committee,” said another trader. “Everyone on the Street knows it solves nothing.”

    and the title of his previous column..

    <blockquoteCan the bailout work? Fat chance

  2. #102
    On October 9th, 2008 at 11:04 am, flaming_o said:

    On October 9th, 2008 at 10:50 am, johnsteele said:

    If we preserve the system we can remedy the transgression later; if we don’t preserve the system there is no remedy possible.

    You say kool-aid, I say pragmatism.

    johnsteele, I can’t say I disagree but pragmatism on our side is up against incrementalism on theirs. We’re being buried alive under the weight of socialist incrementalism. That’s what we’re up against. I’ve heard it called “shoveling sh*t against the tide”.

  3. #103
    On October 9th, 2008 at 11:11 am, moonsbreath said:

    On October 9th, 2008 at 6:42 am, conservativesRus said:
    Can someone answer this? Exactly how “clogged” is our credit market? Exactly who is deserving of credit can’t get credit? Exactly how many people is this happening to? Until we know these numbers, it doesn’t seem to me that we really know anything about the alleged problem. Maybe there isn’t a problem at all !!!!!!

    My husband works for a major credit card company. Yesterday he found out that if the bailout didn’t go through (which we are against until we knew this), the part my husband works in would have been laid-off. This credit card company isn’t even involved in the mortgage mess.

    This is how it works as it was explained to me. You have a credit card with a limit of $10,000. You go and make a purchase on that card of $5,000. The credit card company borrows the money from the bank to pay for the item you purchased. The credit card company then pays the bank back and only keeps 2% of the transaction fee. Then people are supposed to make their payments to pay that balance off, etc., etc. Banks are balking at letting credit cards or anyone borrow that money because they’re unsure they’ll be paid back.

    On top of all this, now they also have takeover concerns. People better hope that there aren’t anymore company takeovers or it could end-up with one or two companies owning everything.

    It’s just like falling dominoes.

  4. #104
    On October 9th, 2008 at 11:39 am, detolbert said:

    We know that the people driving the market down are now doing it on purpose in selling short to destroy us. Maybe it is time to find their names & addresses…..and like the SNL skit said about the older couple…run them out of the country.

  5. #105
    On October 9th, 2008 at 11:42 am, vinny said:

    WTF! Now they are talking about more direct control over banking practices and therefore all the priviledged minorities and anyone else deemed a “victim/beneficiary” by our socialist government will have deals from bank and money loans that the working middle class citizens are not allowed? Will they even have to repay these loans? Not if they work for Acorn. Those responsible Americans who work for a living will have to pay off other’s loans, banking needs of illegal aliens, those who cannot afford a house but have a right to one, and those too lazy to find a job?
    Oh wait, we have this already, and this system is simly growing, expanding (in a healthy way). Never mind.

    BTW, how many of the readers here are on medicaid? If you are not, check your monthly contributions to medicaid and I bet they are as much as your own private medical insurance. I don’t have a problem with the unemployed mother having a temporary medical insurance or assistance. However there is a huge class of people who do not have reportable income, might have cash businesses and benefit from others paying off their medical bills. That is theft and this sort of activity needs to be effectively prosecuted. This latest government maneuver has expanded basic medical, housing, and food assistance to direct banking. Some of us need to put money into the bank, and our government will hand it out to those deemed worthy. Politicians are only concerned with short term goals. Eventually some of us who work and earn money, will stop putting it into these banks. A fundamentally unfair system cannot be sustained forever.

  6. #106
    On October 9th, 2008 at 11:43 am, happyscrapper said:

    On October 9th, 2008 at 6:23 am, dtestard said:
    If the USA turns Socialist, it will have been Bush, not Obama, that ushered in the new era.

    Worst.

    Sorry, dtestard…Bush did not cause this. Nor actually did Obama, although his ACORN organization, which he had a big hand in, DID cause some of our economic problems. I’m tired of the Bush Bashing! The buck may stop with him, figuratively speaking, but he did not cause the problems that ruined our economy. You might try Bawney Fwank, Chris Dodd, Maxine Waters, etc. Thank you for listening.

  7. #107
    On October 9th, 2008 at 11:46 am, abstractmind said:

    Click,

    Our gracious hostess goes after republicans just as fast as she goes after democrats. The fact that you choose to see things like that shows you’re just as big of a pinhead as the other liberals we’ve demolished on here who made the same charge.

    Dismissed.

    Now, for the topic.

    i hate to have say the same thing as i have a couple times this morning, but again…this is no huge surprise. Anyone paying 2 milliseconds of attention can see where this is going. I have to agree with Michelle this time…there’s no sense in getting worked up into a lather about this, since really…nothing new, and nothing to see here.

    What’s REALLY sad is…I’m not even sure if, at this point in time, I care enough to even suggest anyone do something about it. In the last few months, I’ve lost alot of faith in the Republican party. Not that they hadnt demolished alot of it on their own, but…this kind of thing doesnt help.

  8. #108
    On October 9th, 2008 at 11:48 am, pueblo1032 said:

    The part that frosts me??? If a despot like HUGO CHAVEZ nationalizes any part of their country’s economy, BIG HEADLINES in MSM… Our government is now doing the same thing, with barely a YAWN in MSM… Matter of fact, they are asking, WHAT ELSE CAN YOU DO FOR US???

  9. #109
    On October 9th, 2008 at 11:48 am, On-my-soap-box said:

    On October 9th, 2008 at 9:34 am, FamilyMan said:
    I received over 15 credit card applications last week. If things are so bad why am I getting these solicitations?

    I used to write across all of them “NO THANKS” and switch the envelopes. I guess I am to blame for all of this as I made them pay all of that extra postage for nothing. One thing is for sure, I do not get credit card apps any more! :)

  10. #110
    On October 9th, 2008 at 11:49 am, Insomniac said:

    Why don’t we just make Hugo Chavez Secretary of the Treasury and get it over with?

  11. #112
    On October 9th, 2008 at 12:07 pm, MrScribbler said:

    On October 9th, 2008 at 7:05 am, Goldwater Knight said:

    How much longer until we have labor camps?

    Osama Obama will initiate them on Jan 21 of next year.

    And you, and I, and even Michelle, though she seems not to think so, will be prime candidates for inclusion as residents. We have all questioned The Messiah, even though in Michelle’s case she has leavened it with snarky shots at McCain, as have other commenters. That won’t be enough to mollify Obama’s lust for retribution.

    In the final analysis, even if McCain doesn’t believe everything we believe in, the alternative believes in nothing we hold sacred.

    Those who attack McCain make a common error: you are assuming that dissent is a right in the U.S.A., that the same questions will be asked about both candidates, that there is still fairness in our political discourse.

    Obama and his acolytes have moved beyond that. They will win by any means possible, and will use any means to make their reign eternal.

  12. #113
    On October 9th, 2008 at 12:10 pm, Flyoverman said:

    If the bank that had my mortagage had its ownership take over by the U.S. Government, I would immediately refinance my loan with a bank not owned by the U.S. Government and I would insist in my contract that if the new bank were to be taken over, they would pay the costs of my refinancing.

    I will not have the US Government holding my mortgage.

  13. #114
    On October 9th, 2008 at 12:13 pm, John Ansell said:

    No dispute, writing in Newt. Mailing my votes tomorrow.

  14. #115
    On October 9th, 2008 at 12:18 pm, beenthere said:

    Socialism is here and now.

    MM is undoubtedly correct, but to be realistic as long as we have freedom of speech (more of less) and elections (more or less), there is still hope that we as a nation can avoid the abyss of real&true socialism. I have my doubts that we can avoid the fatal plunge, as I am sure most people on this list do as well, but fate may still save us. That special providence, as Bismarck noted, that watches over drunks and the USA may still be on the job. But at some point soon we, i.e. anyone who wants to avoid the fate of socialism in its final stages, will have to take to the streets. And what will be the implications of that?

    My greatest fear is that an Obama Administration in practice will mean one, two, three, many Wacos. While Obama himself may be squeamish on that point, if the people surrounding him want the real thing (and we know many of them do), there is no other way to bring it about. And the thought of a President Obama having the decency and the strength of character to stay the hand of those creatures that surround him and brought him to power is not credible.

  15. #116
    On October 9th, 2008 at 12:19 pm, Socky said:

    With (Venezuelan Dictator Hugo) Chavez at his side, Ayers voiced his support for “the political educational reforms under way here in Venezuela under the leadership of President Chavez. We share the belief that education is the motor-force of revolution. . . .

    This would seem to belie the Obamunistas’ claim that Bill Ayers had de-radicalized himself by the time Obama knew him.

  16. #117
    On October 9th, 2008 at 12:24 pm, rightwingrocker said:

    If the USA turns Socialist, it will have been Bush, not Obama, that ushered in the new era.

    The USA began its demise into socialism during the FDR administration. This was accelerated during the LBJ administration, and has spun out of control since Clinton. Bush screwed up by not pulling it in, but the Democrats’ grimy fingerprints are all over this mess.

    RWR
    http://www.rightwingrocker.com

  17. #118
    On October 9th, 2008 at 12:25 pm, greenfairie said:

    If the government owns your mortgage, it can take away your home for ANY reason.

  18. #120
    On October 9th, 2008 at 12:34 pm, beenthere said:

    When real socialism comes to America, it will A) not be called that (H/T to Huey Long) and B) will be blamed on the Republicans. I could also add C) they will cravenly accept that blame.

  19. #121
    On October 9th, 2008 at 12:42 pm, Gorebot said:

    And of course, the very first time President Obama is successfully defeated in whatever socialist-de-jur program he attempts, the Idiot Media will frame it as “racist GOP resistance” to “a well-meaning progressive president”.

    And lots of whacked-out leftwing nutroots will agree.

    In the streets. Violently.

    And of course, if Obama is killed (please God, “No!”), all hell will truly break loose.

  20. #122
    On October 9th, 2008 at 12:43 pm, bear1909 said:

    The Federal Treasury has long been a piggy bank for keeping the United States economy running. Cash flow and banking go hand in hand. Banking and the federal treasury go hand in hand. It works, most of the time.

    The Bail Out represents the worst excesses of federal largesse and private sector sloth.

    Whether this is socialism or not begs the question.

    Adolf Hitler was a National Socialist. Let’s talk about that and the “New Party”.

    Bear1909 out

  21. #123
    On October 9th, 2008 at 12:54 pm, Rogue Cheddar said:

    Itlooks like the liberals are finally getting what they’ve always been fighting for, ever since this Republic was formed. Europe!

  22. #124
    On October 9th, 2008 at 12:56 pm, Rogue Cheddar said:

    I need to buy Rosetta Stone so I can work on my smarmy elitist French accent.

  23. #125
    On October 9th, 2008 at 1:06 pm, AlohaGuy said:

    I need to buy Rosetta Stone so I can work on my smarmy elitist French accent.

    Work on your Mandarin. China will be capitalist after we go under.

  24. #126
    On October 9th, 2008 at 1:08 pm, Sanddog said:

    Socialism? It’s much worse than that. This is Economic Fascism.

  25. #127
    On October 9th, 2008 at 1:09 pm, AlohaGuy said:

    Michelle, this is your Uncle AlohaGuy!!! Snap out of it! Get some rest, get a cup of coffee and get back to it! I too have been discouraged recently but we cannot give up.

  26. #128
    On October 9th, 2008 at 1:09 pm, AlohaGuy said:

    Ok, that sounds harsh – no one has done more than you Michelle, Uncle AlohaGuy salutes you.

  27. #129
    On October 9th, 2008 at 1:19 pm, rich8450 said:

    Can we not just get together over the next four years and start a new party…The Conservative Party…and make it conservatives only….I still think we would have a majority…the Repubs have casts their net to broad…

  28. #130
    On October 9th, 2008 at 1:23 pm, right_on said:

    You can’t really blame the entrenched Repubicans for voting the way they do, can you? The liberal socialists have been nibbling away, a little concession here, a little concession there, for the past two decades or more.

    Let me put this into some perspective. Every time a conservative compromises his or her principles for the sake of non-partisanship, the socialist hooks sink ever deeper. The willingness conservatives show to avoid showdowns with liberals is taken by the liberal leadership not as a sign of compromise, but one of weakness.

    Why do you think the Western world has a policy which states that “we will not negotiate with terrorists?” At the minimum it is two-fold;

    1) it gives them legitimacy, and
    2) it is taken as a sign of weakness.

    When contrasted with congressional negotiations, you can see a very similar comparison. Giving in to (compromising) liberal positions legitimizes those policies, superficially or specifically. When conservatives try to seek accomodation, especially when their core values are compromised, it is taken as a sign of weakness by Democrats. In encourages them to try and get even more concessions for their positions in the future.

    And that brings us to where we are today. Our principally damaged Republican avocates have gotten so used to “going along to get along,” that now many, if not most of them, have become morally and ethically corrupted. Not by principled debate, but by money and power.

    They vote on these matters, thinking they are helping the American taxpayers, when in reality, they have become desensitied to conservative principles by the corrupting influence of the social progressives with (or for) whom they serve.

    If these reasons are not enough to convince other conservatives to vote these appeasement jockeys out of office, then that apathy will lead us down a road we don’t want to tread…the beginnings of which we are seeing today.

  29. #132
    On October 9th, 2008 at 1:42 pm, rightwingmom said:

    Rich,

    Can we not just get together over the next four years and start a new party…The Conservative Party

    Where do I sign-up?

  30. #133
    On October 9th, 2008 at 1:44 pm, libertyvista said:

    It’s long been here. Ever heard of Social Security and Medicare/Medicaid ? These are now so entrenched that most everyone believes in them and can not conceive of living without them. I suspect that they have cost us every bit as much as Fanny Mae and Freddie Mack, but without the visible catastrophic market influences. When the entitlement programs fail, year after year, the government just grows the national debt. There is no need to pass bailout legislation, it is a perpetual bailout.

    And when Obama answers yes to the question of if health care is a right, there is no need to check for socialist pamphlets with his name on them. McCain is also willing to put forth, expand, or support any socialist program that he deems good. George W. Bush has actively set forth and expanded socialist programs.

    Socialism fails, it’s always been so, and our society has been eagerly growing the fruits of failure for decades.

  31. #134
    On October 9th, 2008 at 1:44 pm, rightwingmom said:

    Conservative Party
    Gingrich/Jindel ‘12

  32. #135
    On October 9th, 2008 at 1:45 pm, conservativesRus said:

    I keep hearing how the sky is falling – and people calling it “pragmatism” that we had to put up $700B. Though I’m not an economist, my MBA in finance gave me some of the same financial tools to assess markets. Nobody has yet defined the problem. “Clogged” credit market is not a definition. Please please please somebody show me credit worthy applicants who have been denied credit. Then and only then can we have a real discussion on the subject. Until then, it’s all just SCARE TACTICS TO GRAB POWER.

  33. #136
    On October 9th, 2008 at 1:55 pm, Gorebot said:

    Here’s hoping someday Iraq invades the USA.

    To restore democracy, and wipe out a fascist dictorship, of course.

  34. #137
    On October 9th, 2008 at 1:59 pm, emjem24 said:

    I want to know when the responsible parties within the halls of Congress and Wall Stree will return the 2 trillion dollars in lost retirement (including mine) to all Americans affected? A lot of senior citizens (like my parents and in-laws) got hit hard.

    Yeah, I know… nobody gets held accountable. It’s always the “nasty rich” as my foolish mother likes to say. No one looks at the bigger picture. Nobody holds the involved political parties, the ones with supervisory capacity on Congressional commitees and taking campaign contributions. The American people want blood but they’re not asking for full accountability only political revenge by blaming the wrong political party.

    This bailout was never intended to help anybody but the PR problems of Washington politicians up for reelection. Now everybody is whining that the bailout isn’t working fast enough when it was never meant to work at all. The government is taking over, increasing our debt, yet not looking at the structural problems of the economy. These politicians are too interested in keeping the squeeky wheels of political bribes well-oiled.

    The toxic mortgage debts and derivatives has hit the world market now because banks liked how those exotic mortgage-backed toxic securities looked on their balance sheets. If they could make a buck on something really risky, they will. Now we’re all paying for it.

    Perhaps, the government needs to learn a lesson here:

    STOP TELLING BANKS WHO TO LOAN TO IF THEY WANT TO KEEP IN BUSINESS.

    Perhaps, the financial markets and quasi-government agencies should learned a lesson here:

    STOP LOANING TO DEADBEATS, PEOPLE WITH BAD/RISKY CREDIT AND THE POOR WHO ALREADY RELY ON GOVERNMENT HANDOUTS.

    You dig?

  35. #138
    On October 9th, 2008 at 2:03 pm, MNUSMCDavid said:

    Andrew Jackson we need you!! The slayer of national Banks…. he was prescient in realizing that a federalization of banks would put power in the few elites hands. he also knew that foreign governments would, of necessity, be more influential to our way of governance.

  36. #139
    On October 9th, 2008 at 2:08 pm, rightwingrocker said:

    Can we not just get together over the next four years and start a new party…The Conservative Party

    This is exactly what my Federalist Party Platform was all about.

    RWR
    http://www.rightwingrocker.com

  37. #140
    On October 9th, 2008 at 2:11 pm, rightwingrocker said:

    Where do I sign-up?

    I just signed up in support of the Independent Party. Their platform is similar to the Federalist Party, but more general.

    Let it not be said that we conservatives don’t have other options. These are good, as are the Libertarian and Constitution Parties.

    RWR
    http://www.rightwingrocker.com

  38. #141
    On October 9th, 2008 at 2:12 pm, rightwingrocker said:

    Socialism fails, it’s always been so, and our society has been eagerly growing the fruits of failure for decades.

    And it’s going to continue as long as Americans keep electing these Republicrats.

    They can’t win elections if nobody votes for them!

    RWR
    http://www.rightwingrocker.com

  39. #142
    On October 9th, 2008 at 2:18 pm, gayle said:

    To those that believe in Biblical prophesy…….others can scan on by!

    IF the book of Revelations is correct, and I believe it is, then there is NOTHING we can do to stop the chain of events.

    We just have to be ready by keeping our eyes opened and pray.

    Those that are blinded will be punished from what I have read.

  40. #143
    On October 9th, 2008 at 2:28 pm, deusexmachina said:

    It is difficult to escape the notion that there is an intentional master plan in all of this. Swarms of illegals allowed into the country, attempt to provide amnesty, given mortgages that anyone could have known they could not repay…along with the inner city folks. Talk of NA Union, the Amero, our President not willing to enforce laws to protect own citizens. Massive defaults bring down the economy, talk of ‘New Order’ and ‘Global’ solutions. Intentional destruction of America? What think ye?

  41. #144
    On October 9th, 2008 at 2:34 pm, NJ-Aviator said:

    Yes. This confirms what I have believed all along. That Obama is a mole for extreme leftist socialists.

    Archives prove Obama was a New Party member

    Thomas Lifson

    Another piece in the puzzle of Barack Obama has been revealed, greatly strengthening the picture of a man groomed by an older generation of radical leftists for insertion into the American political process, trading on good looks, brains, educational pedigree, and the desire of the vast majority of the voting public to right the historical racial wrongs of the land.

    The New Party was a radical left organization, established in 1992, to amalgamate far left groups and push the United States into socialism by forcing the Democratic Party to the left. It was an attempt to regroup the forces on the left in a new strategy to take power, burrowing from within. The party only lasted until 1998, when its strategy of “fusion” failed to withstand a Supreme Court ruling. But dissolving the party didn’t stop the membership, including Barack Obama, from continuing to move the Democrats leftward with spectacular success.

  42. #147
    On October 9th, 2008 at 3:23 pm, sonofdy said:

    DOW DOWN 350 points. 850 BILLION well spent congress!!!

  43. #150
    On October 9th, 2008 at 3:37 pm, Misscheryl said:

    I think if those who lived in this country not 100 years ago looked at our tax structure and the govenment intrusion into our personal lives, the would argue that we became a socialist country a long time ago.

  44. #151
    On October 9th, 2008 at 3:43 pm, sonofdy said:

    Dow down over 500 points and droping like a rock. we are now under 9000

  45. #152
    On October 9th, 2008 at 3:50 pm, sonofdy said:

    Dow down 600 points. Holy sh!t

  46. #153
    On October 9th, 2008 at 3:53 pm, sausage said:

    To those that believe in Biblical prophesy…

    Oh Lordy Malkin’s Minions are about to explode!

    Intentional destruction of America? What think ye?

    Every superpower eventually crumbles – to be replaced by another…then another… and so on…has been the same throughout history.

  47. #154
    On October 9th, 2008 at 3:53 pm, Misscheryl said:

    The best laid plans of men…

  48. #155
    On October 9th, 2008 at 3:56 pm, Misscheryl said:

    Every superpower eventually crumbles – to be replaced by another…then another… and so on…has been the same throughout history.

    Put your faith in the Lord for he is everlasting!

  49. #156
    On October 9th, 2008 at 4:03 pm, nativeaz08 said:

    Check out this youtube. In it, the D-USA gentleman is asked what he is writing on said forms and he states he is filling in his Canvass ID and location, but the video clearly shows him writing on the actual form (and even signing), which he has absolutely no business or authority to be doing.

    http://www.youtube.com/watch?v=NggRxnyNo9c

  50. #157
    On October 9th, 2008 at 4:14 pm, gayle said:

    Snasauge, no one asked you to read my post.

    Keep YOUR prejudiced comments to yourself.

  51. #158
    On October 9th, 2008 at 4:21 pm, sonofdy said:

    gayle: There you go, bitterly clinging to your guns and bibles….. ;-)

  52. #160
    On October 9th, 2008 at 4:45 pm, bayou22 said:

    Every time someone from the government, politician, Bernanke, or Paulson opens their mouth with some hair-brained idea to try and save the markets, the markets drop like a lead balloon. When will they learn that the markets are wanting to take care of themselves. McCain’s got one stupid a$$ idea and now this crap about the government nationalizing banks?

    They will never learn and it only started with $700 Billion. I hate to say it, but I knew this would get worse the more they tried to “fix” it.

    • Corporate bailout
    • Housing bailout (to include credit card and auto lease debt)
    • Commercial paper
    • Bailout loans to state governments
    • Direct lending to companies
    • Ownership in banks

    Out of ALL of these… which has made ANYTHING better? NONE. Investors don’t like this much (socialist) intervention and they see too much price control which affects their interest in profit-making. Couple that with the likelihood of an Obama administration jacking up capital gains, and they are getting out while they can.

    How will they break it next? You know what they say, “If it ain’t broke, let the government break it, and spend billions in the process.”

  53. #161
    On October 9th, 2008 at 4:45 pm, Marie said:

    Barney Frank must resign
    Chris Dodd must resign
    Chuck Schummer must regign
    Freddie and Fannie shut down
    Until then – NO CONFIDENCE!

  54. #162
    On October 9th, 2008 at 4:52 pm, ITookTheRedPill said:

    Some interesting background material:

    The Sino-Soviet split was a gradual divergence of diplomatic ties between the People’s Republic of China (PRC) and the Union of Soviet Socialist Republics (USSR)

    The Committees of Correspondence for Democracy and Socialism is a democratic socialist group in the United States which originated in 1991 as the Committees of Correspondence, a moderate, dissenting wing of the Communist Party USA (CPUSA). Named after the committees of correspondence of the American Revolution, the group was critical of the leadership of CPUSA leader Gus Hall and argued that in light of the collapse of the Soviet Union the party should reject Leninism and adopt a more moderate democratic socialist orientation.

    The movement was led by former CPUSA official Gil Green. Failing to win over the CPUSA, the group left the party and held conferences to establish a new organization including independent leftists and socialists from outside of the CPUSA tradition or who had left the CPUSA over its policies. In 2000 the group changed its name to the Committees of Correspondence for Democracy and Socialism. CCDS permits dual membership in the Socialist Party USA.

    I believe that Hillary Clinton (and possibly even John McCain) are the 2008 candidates of the CCDS / Socialist Party USA.

    And I belive that Barack Obama is the candidate of the Communist Party USA.

    Both parties have their own Consitution and “program”…

  55. #163
    On October 9th, 2008 at 4:56 pm, ITookTheRedPill said:

    Both parties have their own Consitution and “program”…

    Socialist Party USA Constitution and Platform.

  56. #164
    On October 9th, 2008 at 4:57 pm, McCloud9 said:

    We are all pissed, and rightly so. What I have not seen on this posting is the fundamental GIFT we were given…
    This is a Goverment OF THE PEOPLE!
    BY THE PEOPLE and FOR THE PEOPLE!
    That is what we need to knock into the heads of the Socialist Politicians.

  57. #165
    On October 9th, 2008 at 4:57 pm, ITookTheRedPill said:

    Both parties have their own Consitution and “program”…

    Communist Party USA Constitution and Program.

  58. #166
    On October 9th, 2008 at 5:00 pm, ITookTheRedPill said:

    If we find the connections from John McCain to Hillary Clinton and the Socialist Party USA, we may be able to force McCain to step down from the nomination of the Republican Party.

    True Republicans aren’t Socialists.

  59. #167
    On October 9th, 2008 at 5:15 pm, Independent voter said:

    DO YOU KNOW there have been 7 Bear markets, since the 70’s ALL of which rebounded without government intervention?

    LEVEL HEADS must keep pushing the voice of reason be heard through the hysteria before Paulson/ Bush actually cause a depression.

    I know I have posted this link before, but it is a very sensible, prudent plan, for the electorate to continue to push on Congress.

    If other posters here have other such sensible, plans please offer them up.

    Level heads MUST keep the pressure on.

    http://www.denninger.net/letters/genesis.pdf

  60. #168
    On October 9th, 2008 at 5:18 pm, bayou22 said:

    Marie eloquently stated:

    Barney Frank must resign
    Chris Dodd must resign
    Chuck Schummer must resign
    Freddie and Fannie shut down

    Slight revisions…

    Barney Frank must resign & be prosecuted
    Chris Dodd must resign & be prosecuted
    Chuck Schumer must resign & be prosecuted
    Freddie and Fannie shut down and former executives Johnson, Raines, and Gorelick (and anyone else) indicted, convicted, and frogmarched to prison.
    ACORN must be prosecuted to the fullest extent of the law for fraud and extortion

  61. #169
    On October 9th, 2008 at 5:22 pm, Netfest said:

    Perhaps, and I’m just saying perhaps when I actually mean I know, people are taking their money out of the stock market since they believe (rightly) that an Obama and Democrat-lead senate and house will tax the hell out of them.

    Ever since Obama has begun to pull away from McCain more and more of the “smart” folks sell into any rally, taking what they can and stuffing it into their mattresses.

    This isn’t so much a credit crunch or a crisis of confidence, as the people with money see a “crisis of political leadership” on the horizon. Ask yourself, what would you have done if you lived in Venezuela when Chavez came to power?

  62. #170
    On October 9th, 2008 at 5:31 pm, rich8450 said:

    We need to start a new party now..so we’ll be ready in 4 years…I think if the entire conservative blogosphere pushed this we could do it…with the right candidates we could even win…

  63. #171
    On October 9th, 2008 at 5:36 pm, Marie said:

    McCain in Waukesha, WI today. He named names – Barney Frank and Chris Dodd as responsible for the mess. I’m waiting for FOX NEWS to run that clip. Carl Cameron was reporting from Waukesha. He didn’t mention that! The crowd was huge (AND MAD ABOUT WHAT’S GOING ON)-Waiting to hear the number. Cedarburg WI crowd was 15,000, a month ago, but that was NOT reported. Cedarburg WI is a little tourist town. Lots of Artsy-crapsy shops not big enough to hold that many people. By the way, the crowd was not unruly!

  64. #173
    On October 9th, 2008 at 5:57 pm, Virginia Patriot said:

    If we do not vote out everyone who voted for this bailout, we deserve what we’ll get. More of the same.

  65. #174
    On October 9th, 2008 at 6:02 pm, publiuswarmac9999 said:

    The only way out of this mess is a massive tax cut and a complete freeze on government spending (or possibly an actually cut in government spending). The thought that more government is the solution in not only socialistic, but it is stupid in the extreme.

  66. #175
    On October 9th, 2008 at 6:09 pm, Independent voter said:

    rich8450 said:
    “We need to start a new party now..so we’ll be ready in 4 years…with the right candidates we could even win…”

    I agree whole heartedly, and I would be a supporter of an actual “Conservative” party, as long as it is based on actual “Conservative” principals WITHOUT the divisive & extremist “wedge” politics of the Rove/Bush doctrine, which, along with their blatant lack of integrity, will be the undoing of the Republican party.

    • Maybe a “Conservative” Party will protect the borders of the U.S.
    • Maybe a “Conservative” Party will understand that National Security and Economic Security are intrinsic to one another.
    • Maybe a “Conservative” Party will appoint Cabinet members that understand that National Security and Economic Security are intrinsic to one another.
    • Maybe a “Conservative” Party could be prudent, & approach issues with thoughtful consideration.
    • Maybe a “Conservative” Party will promote National Security by ending our dependence on foreign oil, while at the same time abiding by actual “Conservative” principles, which would entail a diversified approach to energy security through SAFE alternative energy sources.
    • Maybe a “Conservative” Party COULD BE CONSERVATIVE!!!

  67. #176
    On October 9th, 2008 at 6:23 pm, graysonret said:

    Keep the Constitution in the vault. Re-do American history even more. The American dream is dead because it was such a “failure”. Welcome to the new world order, socialism, except for the “elites” in the government who will be exempt, of course.

  68. #177
    On October 9th, 2008 at 6:41 pm, dadmin said:

    It’s all part of the march toward the new world order (i.e. – one-world government.) With the Feds taking control of the banking industry, and with a new socialist president installed, the coming economic collapse will be sufficient justification for suspending The Constitution and ceding American sovereignty to a new ruling body. Mark my words, it is coming. As ‘George Soros’ said on SNL last week, “And there’s nothing you can do about it.”

  69. #178
    On October 9th, 2008 at 6:43 pm, CleanGuy said:

    Maybe McCain will win and all the Socialists will move to Canada.

    href=”http://slatev.com/player.html?id=1842856410″

    How do you get the link to post right in a comment here?

  70. #180
    On October 9th, 2008 at 6:58 pm, mdt said:

    Could it not be that the stock market meltdown drop of 30%+ in last 2 weeks is the market realizing that Obama is really winning along with an all democratic congress – with all that means for a complete socialist makeover of the US, the last standing capitalist nation?

    I have not seen any analysis of this sort- though it makes complete sense to me.

  71. #182
    On October 9th, 2008 at 7:19 pm, corona said:

    So, Secretary Paulson, how is that crap sandwich tasting now?

  72. #183
    On October 9th, 2008 at 7:22 pm, jamesgreenidge said:

    Reasons to vote Obama:

    I want to be part of history!

    I don’t want to feel like a bigot.

    President McCain ruined the economy!

    James Greenidge
    Queens NY
    A Thompson man voting McCain so a socialist monster doesn’t get in.

    Do people supporting Obama really hate Bush THAT much??

  73. #184
    On October 9th, 2008 at 7:28 pm, mdt said:

    REVOLUTION!!

    STAND UP!!!!

  74. #185
    On October 9th, 2008 at 7:33 pm, fred5676 said:

    The IRS could make a go of it selling booze and women in 1990 – what’s new?

    When a federal bankruptcy judge turned Mustang Ranch over to US Bankruptcy trustee Jeri Coppa, she considered it her top priority to immediately get the bordello back in business. As her office saw it, the closure could not have come at a worse time. The Reno Air Races were to be held that Saturday, and normally this would be he busiest weekend of the year at Mustang Ranch. The whorehouse could not afford to lose so many potential customers if it was to pay off the IRS and its secured creditors.

    “I’m trying to get the girls back, straighten out the business licenses, insurance, and work permits, blood tests – and get the place back open,” Ms. Coppa, the federal bankruptcy trustee, told Chronicle reporter Kevin Leary three days before the Air Races. “It’s a new experience for me. I’ve never run a whorehouse before. But about 20 girls have signed up so far, and the bar manager and floor maids are anxious to get back to work.”

    In any case, the federal government with unusual alacrity managed to reopen Mustang Ranch just in time for the Air Races. Later the ranch was sold at auction, where it was purchased by an associate of Conforte

  75. #186
    On October 9th, 2008 at 7:37 pm, Travis McGee said:

    Welcome to the USSA, comrade. All your 410K belong to us.

  76. #187
    On October 9th, 2008 at 7:46 pm, simcoe said:

    McCain doesn’t seem to act like he even wants the US presidency. He’s more like a blocker for Obie. It’s like they’re both on the same team running down the field toward the same goal and McCain is begging the fans to look at him but they can’t tell him from Obie and he hasn’t yet distinguished himself. It’s difficult to see any difference between their ideas and they’re wearing the same uniforms and from what I can tell McCain has yet to begin to act presidential.

    If he would show a little backbone and act like a leader instead of trying to be mister nice-guy, he would be way ahead. And he doesn’t do “nice guy” very believably, its more like mister mouse. He has to choose a side but he won’t mark a line in the sand or step down off the fence he’s trying to walk and stop being afraid.

    I don’t want a fence walker. I want a conservative!

    I want someone who will stand up for the American way. Not show weakness by trying to be a friend to our enemies. He doesn’t seem to have the self-confidence needed to run a strong campaign or to be president.

  77. #188
    On October 9th, 2008 at 8:16 pm, Independent voter said:

    CleanGuy asked, “How do you get the link to post right in a comment here?”

    Hightlight your link & select the “link” button, on the selection menu on top of the comment box.
    This is the only way I know, anyway.
    I think that is what you are asking about.

  78. #189
    On October 9th, 2008 at 8:22 pm, Independent voter said:

    Oh,Cleanguy, first you have to highlight=>copy=>paste your link.

  79. #190
    On October 9th, 2008 at 8:35 pm, rightwingrocker said:

    We need to start a new party now..so we’ll be ready in 4 years…I think if the entire conservative blogosphere pushed this we could do it…with the right candidates we could even win…

    Who’s with me?

    RWR
    http://www.rightwingrocker.com

  80. #191
    On October 9th, 2008 at 8:38 pm, rightwingrocker said:

    I’ve also set up federalistparty@verizon.net.

    Maybe we can get something going if people like the platform.

    RWR
    http://www.rightwingrocker.com

  81. #192
    On October 9th, 2008 at 8:39 pm, Patchthebun said:

    gayle:

    I’m inclined to agree with you.

    :(

  82. #193
    On October 9th, 2008 at 8:44 pm, WarEagle82 said:

    I don’t usually consider myself prone to accepting conspiracy theories. But this sudden, major crisis is curious.

    Bush presented both the crisis and the solution. Congress immediately agreed to the solution. When is the last time Congress agreed with Bush and passed major legislation after less than two weeks?

    The crisis is vague and ill-defined. Both sides pushed for immediate “bailout” and before the ink on the law was dry the began telling us it might not work and it might not be enough.

    This stinks. And either Bush is gullible beyond belief or he is remarkably stupid or he is committed to bringing socialism to the US. And he has done that at least. And I believe McCain’s acceptance of this “bailout” kills his chance at election because McCain is considered weak on the economy and it made him violate his stated opposition to “pork.”

    That makes me wonder if Romney, supposedly strong on the economy, were the candidate would we have experienced a foreign policy crisis?

    Something is wrong with this whole “crisis” and I can’t put my finger on it. I don’t want to believe that both major parties are led by crooks and imbeciles but everything points to that.

    And by accident or design, the US government has overthrown the US Constitution. None of this is even remotely constitutional.

    Like I said, something stinks but by the time we figure it out it may well be too late if it isn’t already.

  83. #194
    On October 9th, 2008 at 9:22 pm, ironman said:

    The seeds of socialism in America were planted some 90 years ago with Woodrow Wilson’s administration(i.e..federal reserve,income tax,17th amendment) and carried further in FDR’s administration(New Deal).
    The 1920’s saw the births of communist/anarchist organizations(ACLU,Planned Parenthood,..etc) that entrenched themselves in America like leeches to suck the very life blood out of our Forefather’s dreams for this country.
    The 1960’s gave rise to the hippie youth who worshipped the likes of Marx,Nietzsche,Freud,Darwin,and Rousseau.These very youths who would go on to become college professors,senators and representatives,lawyers and policy makers while still maintaining their beliefs in these 18th and 19th century charlatains.We saw the judicial results of these idealists through the decline of moral values in America(Murray vs. Curlett,Roe vs. Wade,..etc) and the aggressive expansions since their inceptions.
    The 1990’s gave us the extreme use of “political correctness”,an idea born in the Frankfurt School in Germany in the 1920’s and used by both the Nazis and Communists,hence all the “Hyphenated-Americans”,new math,and rewrites of history.Giving us a more simple minded and indoctrinated brand of child.And of course all the socialist ideas of social home ownership,gov’t oversight in all facets of life,massive bailouts and wealth distribution as we are now seeing daily on our TV’s and hearing from the morons in Washington.
    I said all that to say this…we’ve had some 95 years to head off the socialist train in this country.I’m asking everyone…ANYONE…is it that we’ve been blind or ignorant to all of this through the years?…or is it that we’ve just reluctantly rolled our eyes and given in to each little compromise as our Constitutional rights have been fading away?…or maybe that each generation since World War 1 has been conditioned so slowly and subtly that we are now left with nothing more than a ‘house of cards’?
    I am the same as all of you…feeling angry,frustrated,overwhelmed,and left in disbelief.But given the history of it all,should we really act surprised at this outcome we are now a witness to?

  84. #195
    On October 9th, 2008 at 9:24 pm, Republicanvet said:

    Oy.

    A little OT here but, didn’t Oblahblah look like a Bobble-head in Tuesdays debate? I haven’t watched him much on TV, but when I watched the debate, his head looked so big I kept expecting it to bobble around.

    Then there was the question over who the next Treasury Secretary would be. Gee, I guess the WoT is going so well the next SecDef isn’t as important as who the next SecNanny will be.

  85. #196
    On October 9th, 2008 at 9:27 pm, WarEagle82 said:

    “SecNanny.” That is good. Obamassiah will be the “Nanny-in-Chief.” Michelle O. can be the “Bitter Half.” And McCain can be ambassador to Andorra.

  86. #197
    On October 9th, 2008 at 9:42 pm, Marie said:

    Glenn Beck on right now

    Kelsy Grammer “Barney Frank and Chris Dodd should go to jail”

  87. #199
    On October 9th, 2008 at 10:57 pm, Terry_Jim said:

    WarEagle82 said:

    And by accident or design, the US government has overthrown the US Constitution. None of this is even remotely constitutional.

    That’s what keeps nagging me, too.
    But since the Kelo decision put government desires over property owners rights, it seems like anything goes while a President I supported opens the doors wide for socialism.
    God, help America.

  88. #200
    On October 9th, 2008 at 11:17 pm, WarEagle82 said:

    Kelo was an amazingly bad decision from SCOTUS. Only an idiot or a communist could come up with the decision they reached in that case.

    And all the while, Bush just marched on toward the left. I was a reluctant supporter in 2004. I should have relied on my gut instinct then. He has betrayed his oath of office and the nation he was sworn to defend. I don’t see any other way to put it. None of this stuff is constitutional.

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