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1. They All Did It « Take Your Cross
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1. #1
   On October 13th, 2008 at 9:44 am, cicerokid said:

   Time for chicken little soup.

2. #2
   On October 13th, 2008 at 9:52 am, right4life said:

   a nice october surprise!! from the democrat shadow government. just like at the CIA, there is a cabal of democrats in the bureacracy, who have a great deal of influence…

3. #3
   On October 13th, 2008 at 9:53 am, 30 pcs of silver said:

   Instead of restoring confidence, this approach to the crisis instilled more fear and panic in the markets.

   Indeed. But let’s not limit that to just the market… the same could be said for the American taxpayer as well.

4. #4
   On October 13th, 2008 at 9:54 am, Misscheryl said:

   The only way to fix this is to cut taxes and spending to bare bones and I would gladly vote for that! Bush tells everyone to calm down and then in the next breath screams the sky is falling. People who believe anything those in the government say, deserve what they get. It’s time for a change but that doesn’t mean Obama!

5. #5
   On October 13th, 2008 at 9:54 am, BobonStatenIsland said:

   I agree that the Feds aren’t really helping in this market collapse, but I also think that there is a fear in the market of an Obama Presidency and all the Socialism that that will bring with it cause the Market to be skittish.

6. #6
   On October 13th, 2008 at 9:55 am, corkie said:

   Puleeze. A Yale law professor?????

   This guy obviously doesn’t understand the markets.

7. #7
   On October 13th, 2008 at 9:58 am, Misscheryl said:

   GET.BACK.TO.BASICS!

8. #8
   On October 13th, 2008 at 10:03 am, 30 pcs of silver said:

   Capitalist manifesto.

9. #9
   On October 13th, 2008 at 10:08 am, John Deaux said:

   Isn’t it ironic that the economy is propelling Obama to the top right now, but the cure he offers just might also be the cause.

10. #10
    On October 13th, 2008 at 10:12 am, Marshall Russ said:

    A lot of major banks around the world got stuck holding bad paper based on bad mortgages thanks to ACORN, FANNIE and FREDDIE. I don’t think they are in the mood to hear any assurances from the US Government. As far as who wins the election? It was Rothschild who said,”If I have control of the country’s bank, I care not who runs the government”.

11. #11
    On October 13th, 2008 at 10:12 am, right4life said:

    On October 13th, 2008 at 10:08 am, John Deaux

    you’re actually expecting people to think?? come on, democRAT voters are encouraged not to think, rather just feel…and Obama cares

    no matter how bad things will get under obama, these stooges will follow him off the cliff..

12. #12
    On October 13th, 2008 at 10:15 am, richardbo said:

    We’ve reached the point where every year is treated like an election year by our various political groups. It has come to kneejerk politics to pander to whoever is whining or paying the most at any particular moment. This constant battle for power has removed any sense of long-term view.

13. #13
    On October 13th, 2008 at 10:16 am, Boomer said:

    The Bush tax cuts after 9/11 prove that the economy will respond positively to having to pay less taxes. Killing the capital gains tax and putting our bloated Federal Agencies on a strict diet would be a wonderful start. Just imagine how better off the economy and our personal lives would be without many of these bloated inept agencies.

    Welcome to the United Socialist States of America! We’re boned!

14. #14
    On October 13th, 2008 at 10:17 am, teachem2 said:

    On October 13th, 2008 at 10:08 am, John Deaux said:
    Isn’t it ironic that the economy is propelling Obama to the top right now, but the cure he offers just might also be the cause.

    As Rush says, “Ignorance is the most expensive commodity we have.” Too many people are ignorant of economics, even the most basic principles. They have bought into this class warfare nonsense (I’ve had to deprogram my husband from this one and it’s still a work in progress). It’s us vs. them (”the rich”) mentality.

15. #15
    On October 13th, 2008 at 10:18 am, DesertLover said:

    Who’s responsible? … too many to list but most of them have a “D” behind their names … Frank, Dodd, Pelosi, Reid, etc. …

    However … One name that many have forgotten through all this is good ole “Chucky” …

    Don’t forget that the sudden interest in bank solvency began in April right after Schumer intentionally leaked to the press (MSM of course) his letter to the Fed about IndyMac Bank in California … (which it turned out was already under scrutiny and in the process of being taken over quietly by the Fed) … that is an action which happens multiple times every year and never makes the front pages of anything but a few business-investor sources …

    Schumer putting all of this out caused a panic rush on IndyMac deposits and made certain that the bank fully failed rather than simply going into a Fed receivership … the aftermath caused many to start questioning their own banks solvency …

    So … how about Schumer getting his share of the criticism? …

16. #16
    On October 13th, 2008 at 10:42 am, txvet2 said:

    Don’t mean to be paranoid here, but there are enough bucks out there on the loony left, thinking of Soros et al, that they could quite easily manipulate the market with some strategic selling at the right time. I note that most of the really big moves are coming right at the close, making the day’s market look even worse than it was. It certainly wouldn’t be out of character, or even the first try for Soros to manipulate a market for his benefit.

17. #17
    On October 13th, 2008 at 10:48 am, ArizonaNeanderthal said:

    Tons of market watchers, mortgage bankers and such have warned of the sub prime meltdown-they were warning of it during the white hot real estate market several years ago and have been warning about it all along.
    The whole market was too hot–a fire feeding on it’s self. We have seen it before-but not this bad and not in my lifetime. NO ONE who could make a difference did much even though the White House, Congress and the regulatory agencies saw this coming.There were conservatives in the House and Senate who tried–but they were too few.The rest were too busy being busy. But they have theirs and government pensions. Barney Frank is not the only pimp in government.

    Now I am going out to buy another safe.
    God Bless America except for the blue states.
    —
    ALCOHOL, TOBACCO AND FIREARMS
    Should be a convenience store
    NOT a Government Agency

18. #18
    On October 13th, 2008 at 10:56 am, ArizonaNeanderthal said:

    Royal Bank of Scotland under state control

    RBS will offer its shareholders the right to buy £15 billion of new shares, the vast majority of which are expected to be left with the Government, giving it a 60 per cent stake.

    Ministers denied last night that there was any plan to nationalise the whole banking sector and said that the aim was to restore the banks to full private ownership as soon as was sensible.

    Sound familiar?

    —
    ALCOHOL, TOBACCO AND FIREARMS
    Should be a convenience store
    NOT a Government Agency

19. #19
    On October 13th, 2008 at 10:59 am, pueblo1032 said:

    Brings back history, to anyone who studies history… It is written by many ECONOMISTS, that the meddling by the FEDS, and mostly by FDR, PROLONGED the GREAT DEPRESSION by at least double…To quote the GREAT HISTORIAN, Yogi Berra… “It’s DEJA VU all over again.” There were many ECONOMISTS, and MARKET GURUS who wanted to slow down, and not RUSH to any plan… Just wait and see if you will… I wonder what those results would have been… AH but we will never know, will we???

20. #20
    On October 13th, 2008 at 11:25 am, commonsensemom said:

    Despite all the hard work and good intentions on the part of our public officials, when economists and historians look back on the current financial crisis they are likely to conclude that government intervention prolonged and deepened it.

    And caused it, if you agree with this explanation from a lefty economist (a little long, but worth the read). Very compelling, IMHO.

21. #21
    On October 13th, 2008 at 11:29 am, wrcnossen said:

    I wonder when the speculators in oil futures, who are driving down prices due to expected lower demand, will get any credit?

22. #22
    On October 13th, 2008 at 11:29 am, RabbidSquirrel said:

    Don’t listen to all of those people and institutions that falsely claim to have screwed up. Its all my fault and I take full responsibility.

    Send me your money and I will fix it.

23. #23
    On October 13th, 2008 at 11:56 am, normsrevenge said:

    mmmm mmm.. Kaintuckky FRied Chickun Littls

    got sauce?

    plenty of blame to go all around, people do get greedy and do get caught.

    .. and that’s just on the side full of reputable and respectable folk who had oversight all these years over these financial enterprises&institutions and did little more than pocket money “donated” from their cohorts in quasigubamintal ventures like the FMs Fannie and FReddy and get a god deal on a mortgage at Countrywide.

24. #24
    On October 13th, 2008 at 12:01 pm, txvet2 said:

    On October 13th, 2008 at 11:29 am, wrcnossen said:

    I wonder when the speculators in oil futures, who are driving down prices due to expected lower demand, will get any credit?

    When hell freezes over.

25. #25
    On October 13th, 2008 at 12:18 pm, ArizonaNeanderthal said:

    Senator McCain is on FOX speaking in Virginia Beach.
    He “HAS A PLAN”.
    We are so nailed.

    —
    ALCOHOL, TOBACCO AND FIREARMS
    Should be a convenience store
    NOT a Government Agency

26. #26
    On October 13th, 2008 at 12:35 pm, dan708 said:

    I think this Yale prof is overestimating Bush’s influence. Few people pay him any attention anymore.

27. #27
    On October 13th, 2008 at 12:56 pm, md1964 said:

    Who knows what our REAL economy trully is…we have so many Artificial applications, that it is almost like picking up a girl who is a spectacular looking “10″ but eventually you find out after the boob job, hair extensions, botox, half a pound of makeup and other “Enhancing Apparatuses” that you have a ugly 2 that needs all that to stand up.

28. #28
    On October 13th, 2008 at 1:06 pm, FamilyMan said:

    pueblo1032 said:

    Brings back history, to anyone who studies history

    Does anyone study history any more?/ sarc

29. #29
    On October 13th, 2008 at 1:13 pm, Ahh a Lion! said:

    The Federal Reserve deserves most of the blame. As they set the price of money they influence the risk tolerance of the financial institutions that receive that money. Capitalism runs on greed, but is balanced by fear, the Federal Reserve removes that fear with a loose monetary policy. Also, as the Federal Reserve is a private and unaccountable institution that makes a predetermined 10% profit a year, there is no way it can be counted on as ‘responsible’ or ‘impartial’.

    Government intervention also can remove the fear balance in the market with ridiculous bailouts, agencies, programs, and implied government backstops. Although, these types of market interventions usually don’t have the same systemic risk as the monetary policy directed through our private central bank.

30. #30
    On October 13th, 2008 at 1:18 pm, California Red said:

    Krugman won the Nobel in Economics. Ask him.

    Nobel is a partisan hack group.

31. #31
    On October 13th, 2008 at 1:33 pm, Flyoverman said:

    Let’s see…. 535 people, mostly lawyers, think as a giant committee they can maange a cpaitalist economy.

    Odds of their being successful?

    See the Senate cafeteria for details.

32. #32
    On October 13th, 2008 at 1:48 pm, rambler said:

    One thing that the income redistribution morons fail to understand is that giving money to people who haven’t learned the skills necessary to earn money will simply waste the money given to them. Giving a mortgage to people who couldn’t afford it was irresponsible. Teaching poor people how to manage money would have been a better plan. Obama’s tax plan just gives out more money which will be spend poorly. He’s part of the problem, not the solution.

33. #33
    On October 13th, 2008 at 2:43 pm, allrsn said:

    Big daddy gov buys stock in finicial institutions!

    Social control? Is it legal for daddy gov to invest in the market?

34. #34
    On October 13th, 2008 at 3:27 pm, ArizonaNeanderthal said:

    Krugman won the Nobel in Economics. Ask him.

    Krugman the New York Times columist best known for bad mouthing Pesident Bush? Klugman who basically quoted Lester Thurow? That one?

    I prefer: Milton Friedman (July 31, 1912 – November 16, 2006) was an American Nobel Laureate economist and public intellectual.He is the one that predicted the Socialist Push and expansion because of the fall of the Berlin Wall.

    But then Yasir Arafat was a Nobel Laureate. We are not impressed.
    —
    ALCOHOL, TOBACCO AND FIREARMS
    Should be a convenience store
    NOT a Government Agency

35. #35
    On October 13th, 2008 at 3:42 pm, Papa Louie said:

    The original Treasury plan — which called for the transfer of virtually unlimited taxpayer dollars and unlimited spending discretion to Treasury with no judicial or congressional oversight — sent a very bad signal to the markets.

    Reminds me of a Reagan quote:

    Government is like a baby. An alimentary canal with a big appetite at one end and no sense of responsibility at the other.
    — Ronald Reagan

36. #36
    On October 13th, 2008 at 3:42 pm, ArizonaNeanderthal said:

    Mr. Obama would consider officially opening combat positions to women.

    That ought to help the economy. Well at least for the women left home. Fat gals could become pole dancers, ugly gals could get dates instead of being correspondents for PBS and the New York Times. Anyone care to follow Lieutenant Michelle Obama into combat?, Madonna, Paris Hilton–all the important ones. Botox Pelosi would command at least a brigade.

    But as all will be peace and love under He Who Has Come there will no danger. Democrats never get us into war.

37. #37
    On October 13th, 2008 at 3:48 pm, ITookTheRedPill said:

    We are a few weeks from the elections and as of today, the poll numbers indicate we have our work cut out for us. Americans are angry. VERY ANGRY. The recent bailout controversy has only stirred the seething rage that is bubbling up among taxpayers.

    The sad thing about voter anger is that it’s misdirected. While there is plenty of blame and fault to go around for both parties, there really is hard evidence that John McCain tried in vain to get attention focused on the totally absurd lending practices of Fannie Mae and Freddie Mac that are at the heart of the meltdown. Barack Obama is the second highest recipient of political cash from the big bosses of these entities, and one of his economic advisors Franklin Raines took over $90 million in bonuses from Fannie Mae. That’s right—$90 MILLION. Do you really think that Barack Obama will lead “reform” of a system that his advisors have helped create?

    His radical views on when life begins and his priority of protecting abortion rights over the right to life for the unborn are beyond most of even the most extreme leftists. His work with ACORN, a radical political organization is especially noteworthy in light of the fact that ACORN received over $760 million in “fees” from banks to help push people into “N.I.N.J.A. loans.” (These are loans made to people with No Income; No Job; and No Assets, thus NINJA loans.)

    Imagine Obama as President and Democrats holding majorities in the House and with a possible 60 vote margin Senate.

    Goodbye, 2nd amendment rights.

    Goodbye, protection for the unborn.

    Goodbye, tax breaks.

    Goodbye, diligence against state sponsored terrorism from rogue governments like Iran, North Korea, and others.

    Goodbye, parental rights as a fundamental right to not be supplanted by the government.

    Goodbye, holding traditional marriage as one man, one woman for life.

    I’m not ready to accept that.

    I want you to join me in the final days to push for Republican candidates, starting with John McCain and Sarah Palin, down to those running for the state legislature to stand for something. Stand for life, for marriage, for the Fair Tax, for our 2nd amendment rights, Fight for the pre-eminent role of mothers and fathers in raising their children, for lower taxes, for controls on government spending, and Demand an end to the disgusting corruption of Washington that led to this massive economic meltdown.

    Email or call your friends and family. Share with them what is at stake. Make a contribution to a favorite candidate or support my PAC with a contribution. Volunteer locally.

    The stakes are real. The threat to our families growing.

    Fighting to the end,

    Mike Huckabee

38. #38
    On October 13th, 2008 at 3:50 pm, ITookTheRedPill said:

    But then Yasir Arafat was a Nobel Laureate. We are not impressed.

    …and Al (excuse me while I throw up) Gore…

39. #39
    On October 13th, 2008 at 4:16 pm, rommsey said:

    11% gain today.

    Up and down and all around.

40. #40
    On October 13th, 2008 at 9:08 pm, zorro said:

    It’s a sobering message…

    May God help us all.

41. #41
    On October 14th, 2008 at 7:50 am, Danceswithdachshunds said:

    This is exactly what I tried to intimate to my representative John Tierney who emailed me back a complete cock and bull story as to why he flipped his vote from nay to yea on the senate version. And it was his response to my email … thanking him for his nay vote!

    I told him the TAIL IS WAGGING THE DOG.

    Watching the market response to that initial house vote should have made it clear that investors DO NOT want more government!

    Why don’t these morons ‘get it’??