By Fabb4eyes

September 17, 2008 2:19 PM | Link to this

.

Obama 08: America takes over.

.

By AJC/DNC Management

September 17, 2008 2:21 PM | Link to this

Regulations are working “great” in Russia, which is the system I’m sure Oblahma is most familiar.

Hey, but look at the bright side, maybe Ivan will seize Alaska in their desperation and you libs can declare that Hot Sarah is ineligible to run.

By Mrs. Godzilla

September 17, 2008 2:24 PM | Link to this

How long have we heard…LET THE MARKET DECIDE?

It did.

It wants to be regulated.

By Fabb4eyes

September 17, 2008 2:25 PM | Link to this

Retardo-rama!

By Bosch

September 17, 2008 2:38 PM | Link to this

AND in addition to the fact that Manchester United must now re-design their uniforms - I read yesterday that Barclay’s (for those of you who don’t know this sponsor the English Premiere League) is cleaning up some of Lehman Brothers mess.

See people, soccer is important.

By Wes

September 17, 2008 2:45 PM | Link to this

Jay,

Why would you think that greater regulation would help? It assumes that our representatives recognize what the problem is, can make reasonable assumptions, and will act in our best interests. I’d tend to think they’ll act in whatever manner will keep them in office regardless of the long term impact to their constituents.

By Catherine

September 17, 2008 2:52 PM | Link to this

Thanks for posting the speech excerpts, Jay.

Senator Obama makes a whole lot of sense to me.

He’s not “politics as usual” and rises to the top of my intelligence, morals and ethics scale.

I like his past and I’m encouraged by what he says. I think if others would read and listen without predjudice or bias, they’d understand what I’m referring to.

He also appeals to other nations, and I sincerely think that he can restore our standing in the world.

We’ve fallen very far from grace and our government is spinning out of control.

OBAMA/BIDEN ‘08

By Swami Dave

September 17, 2008 3:07 PM | Link to this

I disagreed with the Senator’s closing remarks (largely the standard litany of entitlements that he supposes the taxpayers should fund), but I thought he addressed the issues of oversight and management pretty well.

-Institute increased oversight for those companies who are getting bailed out or loans. -Prosecute those in authority at those companies if they have been abusing their position (illegally, ethically, etc) and manipulating it for their own gain. -I would go so far as to specifically control executive & director-level salaries, compensation, & benefits tied to repayment of the loans and company performance. -Immediately stop the recent practices of creating exotic instruments that hide the actual risk and reinstituting standardized practices for accounting, underwriting, reporting, etc. that put a stop to recent abuses that are at the core of these problems.

-Swami Dave

By ByteMe

September 17, 2008 3:08 PM | Link to this

The analogy that will help some people is that companies are like football teams. Without rules and that govern the league and referees that actively enforce the rules, you have a mess. With rules, everyone can prosper. Sure, you’ll get the occaisonal mistake by the referee, but at least it’s not often.

Pure capitalism is a bunch of teams with no referee. It doesn’t work. Regulation is required to keep things from getting out of control and dooming all the teams.

By Bosch

September 17, 2008 3:17 PM | Link to this

ByteMe,

Nice analogy. The Feds are like FIFA.

By Fabb4eyes

September 17, 2008 3:17 PM | Link to this

My Favorite Things ……………

Lipstick on Pitbulls and Flip Flops on Stances

Smear ads that swiftboat both candidates’ chances.

VPs that poll well because of their bling

These are a few of my favorite things

When the veep stings, attack-dog style

and the polls are bad,

I simply remember my favorite things, and then I dont feel so bad.

Pink liberal whiners, and GOP bashers

Cops weilding numbchucks at convention crashers

Speeches that say nothing yet still impress

Imagine our president wearing a dress

.

Snowflaking babies that lead to the alter

Bailing out Wallstreet when Ponzi Schemes falter

Tortured insurgents all tied up with string

These R a few of my favorite things.

.

Losing elections instead of the wars

Not teaching Johnny about dinosaurs

Russia’s white winters I see from my swing

These are a few of my favorite things.

When the veep stings, attack dog style

and the polls go bad

They simply refuse to allow paper trails

or recount the hanging chads.

.

.

By "The Corporal"

September 17, 2008 3:22 PM | Link to this

JAY

You may or may not be right on this one. I’ll leave it to the experts on this blog to argue. Two points though:

1) The stock-market is really nothing more than legalized gambling and always has been. Sometimes the card dealer cheats.

2) Obama could be 100% right on his regulatory approach and McCain 100% wrong and it would not change my vote from McCain to Obama. Too many other critical issues.

By Frederick Douglass

September 17, 2008 3:32 PM | Link to this

Other critical issues: 1. He’s black, 2. He’s blacker, 3. He’s the blackest.

By ByteMe

September 17, 2008 3:41 PM | Link to this

Frederick D: that’s not fair to Corporal. In my brief time in this blog, I’ve yet to detect any hint of racism in Corporal’s views. His views do not usually match mine, but in this case you’re just plain wrong and you owe him an apology.

By RealityKing

September 17, 2008 3:41 PM | Link to this

It’s housing, stupid!

The current Wall Street crisis is being caused by plunging housing prices and skyrocketing foreclosures. The hangover of easy capital. So despite the billions of dollars being thrown at the symptoms by the government, financial experts say more trouble lies ahead. Taxpayers beware!!

By Fabb4eyes

September 17, 2008 3:43 PM | Link to this

Clinton is blacker than O.

Palin is greener than O.

McCain has yellow teeth….ew.

By Goldie

September 17, 2008 3:44 PM | Link to this

The Repugs’ “trickle-down theory” seems to have finally trickled back up to some of those at the top… and it has smacked ‘em right in the face this week!

By Goldie

September 17, 2008 3:48 PM | Link to this

it would not change my vote from McCain to Obama.

Apparently for some Repugs, it will never matter that America has been driven into a ditch by W’s & McBush’s policies — it’s always “party before country” for some and apparently just too hard to let go of that very narrow ideology.

By Truth

September 17, 2008 3:53 PM | Link to this

ByteMe… Frederick did the same thing to me the other day. He has a racial axe to grind and he takes it out on whoever he wants. Unfortunately, he believes that everyone is a racist.

By Frederick Douglass

September 17, 2008 3:56 PM | Link to this

ByteMe, you know in retrospect you’re probably right. Reactions like that are knee jerk, because I feel Obama is highly intelligent, and among other things, we need a leader with smarts. I was out of line Corporal.

By Chris

September 17, 2008 3:58 PM | Link to this

I am making a comment on the upcoming 2008 Presidential campaign. In looking at the plans to move the Country forward out of the last 8 year nightmare, Obama is the obvious choice for President. The question is will the American People be DUPED again by FEAR!!! The Republican strategy is to keep on repeating the same old story and eventually you begin to believe it this is call Psychological manipulation of the average people I just hope the American People are smart enough to see this. They the Republicans will continue to divide us the People this is the only way they win elections. Don’t believe me look it up it is the Republican campaign strategy. We had 8 years of terrible leadership under the Bush/Cheney administration, in other words no one in their administration has been held accountable for their drastic mistakes. On Nov. 4th lets make the change we need elect Obama/Biden.

By getalife

September 17, 2008 4:02 PM | Link to this

It’s beyond bizarre.

First, McLair steals Obama’s change and calls it reform.

Then McLiar flip flops on regulations he deregulated with Gramm and now wants regulations.

My head spins wondering why Americans will vote for this obvious fraud.

If it is race, don’t hold Obama accountable for being half white.

White powder! -460 wow.

By rightytighty

September 17, 2008 4:02 PM | Link to this

Meanwhile….

Lynne Spears said she blames herself for what happened with Jamie Lynn.

Well now isn’t that special.., looks like, sounds like, yes.., even reads like, some liberal AJC editors owe Bill O’Reilly a big fat apology!!

By @@

September 17, 2008 4:15 PM | Link to this

Well aren’t we all just so warm and fuzzy over here!

Since none of us have resolved this problem, let’s revisit the past where Bill Clinton sought to deregulate the banking industry thereby opening the door for homeownership with no job, no downpayment, and bad credit. The door swings back and we see opportunity for risky ventures on Wall Street. Bottom line……….

Government spending will have no choice but to be brought under control (he vowed to do that anyway) and OBlahMa won’t be able to keep the promises he’s made (that’ll cost him.)

All in a “daze’d demise.”

Not bad. Not bad at all if one’s lookin’ for a silver lining.

By getalife

September 17, 2008 4:16 PM | Link to this

How we long for the Clinton time in power.

I think we can all agree, those were the good ole days.

By GMAN

September 17, 2008 4:19 PM | Link to this

rightytighty, now will Sarah “Elly Mae” Palin do the same?

Bush/McCain - Gambling with your children’s future!

By rightytighty

September 17, 2008 4:24 PM | Link to this

Yeah, the good ole days.. Back when we had a tech bubble, one head in the sand on terrorism and the other head in.., well you know..

By Ben

September 17, 2008 4:26 PM | Link to this

McCain warned that Fannie Mae and Freddie Mac were out of control in 2005, and he was ignored. Too many Democrats and Republicans were drinking from that faucet. But it’s pretty disingenius of you to not mention that McCain did see this coming, and did warn against it. So did the Bush Administration in 2003.

On the other hand, one of Obama’s top advisors, James Johnson, was in charge of Fannie Mae during much of the problems that led to the current mess. so wouldn’t Obama be more of the same? Lest we forget, Fannie Mae and Freddie Mac have donated $500k to Obama in the last 4 years.

Obama: Change That is Bought and Paid For.

By Renny N. Caulder

September 17, 2008 4:27 PM | Link to this

Frederick Douglass @ 3:32

You err slightly.

Those are the principal reasons that a radical leftist with such a shallow political resume is now the Democratic candidate. Gone on, ask Hillary, she’ll tell you.

But those are not the reasons most thinking people won’t vote for him.

See you in November.

By "The Corporal"

September 17, 2008 4:28 PM | Link to this

To: ByteMe

Thanks for your kind words. I always try to debate without name calling, etc.

To: Frederick Douglas

Apology accepted. I get a little harsh myself sometimes and have to pull back. I don’t think we’ve ever gone back and forth so look forward to it in the future.

It absolutely is not racism on my part. I would vote for Colin Powell or Condolessa Rice in a hearbeat (and maybe even Alan Keyes …….:o). I won’t go into all the issues because that’s not what this subject is about.

One short story. I am age 62 and was raised in Chattanooga. Of course you are a product of your environment and I really never even “conversed” with an African-American until I went into the USMC (and he was one of my best friends). Anyway, I remember as a kid seeing the white only and the colored only water fountains. Being very young, it didn’t bother me then that they were separate but it did bother me that one was nice with refrigerated, cold water and the other one was not very nice and had just tap water. That began my journey.

We’ve come a long way and I hope the journey continues regardless of who is elected.

By GMAN

September 17, 2008 4:36 PM | Link to this

Bush/McCain - More of the same!

By Dusty

September 17, 2008 4:37 PM | Link to this

Never thought of getalife as a joker (4:16) but he certainly is thinking “funny” today. “We long for Clinton time in power.”

‘Tis true there was plenty of entertainment during that time. Lovers in abundance, conspiracies, suicides, records disappearing, court room scenes, blue dresses, cigars, criminal pardons and the Lincoln bedroom rentouts. Better than the movies.

Yep, good ole days! Kinda like a burlesque show. Lotsa high kicking with the Clinton’s ‘song and dance’.

But thank goodness, that show is OVER. We don’t want another one. Liberal entertainment is too much to bear, unless you are a joker smoking a joint!! THEN it is lotsa fun…so they tell us.

By N-GA

September 17, 2008 4:41 PM | Link to this

Jay,

There are those know-nothings who ignorantly preach that we should have open markets and no government interference to nurture free enterprise. I have to wonder if they simply don’t know, cannot remember, or refuse to accept:

• when there were no restrictions on margin trading, 10’s of thousands went bankrupt during the crash of 1929

• when S&L restrictions were removed in 1982, and oversight was reduced, more than 1,000 financial institutions failed at a cost to the American taxpayer of more than $125 billion

• when banks are allowed to invest in risky investments in an effort to maximize profits, they collapse (watch Washingtom Mutual)

• when there are no regulations on risky lending practices, you get problems like Countrywide, Fannie Mae, Freddie Mac and the dominoes who invested in the loans made by & thru these institutions

This list could go on forever, but you get my point.

Sorry Jay…you didn’t need to get my point since you already made it yourself.

By @@

September 17, 2008 4:43 PM | Link to this

Whoops! Dropped a name.

Government spending will have no choice but to be brought under control (McCain vowed to do that anyway) and OBlahMa won’t be able to keep the promises he’s made (that’ll cost him.)

OBlahMa - A venture into the unknown. The yet to be tested./Biden - More of the same!

By Bud Wiser

September 17, 2008 4:48 PM | Link to this

Can someone tell me the original principle Presidential architect of deregulation?

Anyone?

Anyone?

Anyone?

Try on Jimmy Carter for size. He and his toad Alfred Kahn first deregulated the airline industry, then Ronnie Reagan jumped on the bandwagon, and we have all seen what has happened to that industry since then. Deregulation then spread like wildfire., from industry to industry, both parties hailing it as a success for the consumer (Democrat view), and a nice way to strangle unions (Republican view).

The financial markets have been encouraged by Dems primarily, but some Reps. too to open up the rules a bit to let previously non-qualifiers (ie., minorities and low income familys) for loans, to now qualify. Six months later, they jump the loan, get a lawyer (there’s plenty of them, they are easily identifiable by the smell), file bankruptcy, no more loan. The banks become home owners.

Now people are screaming for re regulation? Why have the Democrats with Congressional Committee Oversight on virtually every industry that is collapsing in on itself seen this coming (as they cry now), but did nothing? Where were the Republicans? What happens next?

Whatever is coming along will not be solved by higher taxes, period. Congress must put itself on a starvation diet from money. Anyone out there think that has a prayer of happening? Not with the squealing entitlement crowd, not with the porksters in Washington, not with any and everyone with a hand pointed Washington’s way saying “gimme, gimme.”

On the premise that higher taxes fixes everything, Obama’s plan to raise taxes would have to cover massive shortfalls that could only be made up by everyone pitching in their pennies. Translation for you Democrats - Tax rates will go up for everyone, and the 40% that currently pay no taxes are in for a BIG surprise.

Therefore, I support McCain. Supporters of Obama define why I say:

Obama/Biden ‘08 - making it easy to be brain dead

By MorningStar

September 17, 2008 4:49 PM | Link to this

By Mrs. Godzilla September 17, 2008 2:24 PM | Link to this How long have we heard…LET THE MARKET DECIDE? It did. It wants to be regulated.

Yes it does want to be regulated. Those who care, please do your research, and you’ll read about the olden days when this mess (deregulation-takeover) began.

Read about the T Boone Pickens takeovers, or attempts to takeover. Times do change, and I’m convinced T Boone Pickens now has some suggestions America should heed! However, the ‘takeover’ situation was only the beginning. We’ve constantly been in a metamorphic condition.

If all else fails (according to the R’s you’ll see regurtating on this blog), let’s go back to the abortion issue, which coulda been fixed anytime since 1994, and definitely since 2002 when the R’s also gained control of the Senate. Oh yea, let’s get back to the ole state control thingy. I don’t care who controls. Do what you must, and let’s get down to the business of putting people back to work!

We might also provide solutions for Social Security (stop using it for your stuff), developing a health care system whereby all citizens have access, improving our economy. Now ain’t that a shame?

By Paul

September 17, 2008 5:18 PM | Link to this

Hello Jay,

So just like Iraq, Obama was correct from the start.

McCain wasn’t. But as with his economic ideas, when things changed considerably, he adjusted.

Obama recently said the surge succeeded beyond our wildest expectations. So he can also alter his thinking, if not yet demonstrating the ability to make a suggestion on how to change course. More after the fact recognition.

You haven’t lost your towel, have you?

N-GA 4:41

As I’ve said before (for the benefit of new readers I’ll repeat): the only time I’ve seen the free market work as advertised was when I correctly answered all the test questions in Econ 101. Absent that, theory doesn’t bear a whole lot of resemblance to reality..\

By JAY BOOKMAN

September 17, 2008 5:24 PM | Link to this

I’m not getting the towel reference.

By @@

September 17, 2008 5:39 PM | Link to this

So yesterday SOX was the answer. I ran across this last night.

Sarbanes-Oxley compliance costs soar for smaller firms

I read somewhere that the company mentioned in that article found 145 companies not in compliance out of a total of 700 assisted. They weren’t evildoers, they were just too busy running their small companies.

Zoooommmmmmm!

By @@

September 17, 2008 5:42 PM | Link to this

JAY:

I think Paul’s talkin’ about throwing it in, the same way you suggested Bill O’Reilly might want to throw his to C. Tucker.

By Paul

September 17, 2008 5:44 PM | Link to this

Jay,

[[I’m not getting the towel reference.]]

From your earlier comment about enjoying Rickman in Hitchhiker’s Guide to the Galaxy. If you saw the movie but are not a fan of the book it is understandable. Likely glossed right over it. From the Book (it works better if you read it with a proper British accent):

“A towel, it says, is about the most massively useful thing an interstellar hitchhiker can have. Partly it has great practical value. You can wrap it around you for warmth as you bound across the cold moons of Jaglan Beta; you can lie on it on the brilliant marble-sanded beaches of Santraginus V, inhaling the heady sea vapors; you can sleep under it beneath the stars which shine so redly on the desert world of Kakrafoon; use it to sail a miniraft down the slow heavy River Moth; wet it for use in hand-to-hand-combat; wrap it round your head to ward off noxious fumes or avoid the gaze of the Ravenous Bugblatter Beast of Traal (a mind-boggingly stupid animal, it assumes that if you can’t see it, it can’t see you - daft as a brush, but very very ravenous); you can wave your towel in emergencies as a distress signal, and of course dry yourself off with it if it still seems to be clean enough.

“More importantly, a towel has immense psychological value. For some reason, if a strag (strag: nonhitchhiker) discovers that a hitchhiker has his towel with him, he will automatically assume that he is also in possession of a toothbrush, washcloth, soap, tin of biscuits, flask, compass, map, ball of string, gnat spray, wet-weather gear, space suit etc., etc. Furthermore, the strag will then happily lend the hitchhiker any of these or a dozen other items that the hitchhiker might accidentally have “lost”. What the strag will think is that any man who can hitch the length and breadth of the galaxy, rough it, slum it, struggle against terrible odds, win through, and still knows where his towel is, is clearly a man to be reckoned with.

“Hence a phrase that has passed into hitchhiking slang, as in “Hey, you sass that hoopy Ford Prefect? There’s a frood who really knows where his towel is.” (Sass: know, be aware of, meet, have sex with; hoopy: really together guy; frood: really amazingly together guy.)”

And since your are clearly a man to be reckoned with, “you know where your towel is.”

Wow. And it’s not even Friday, right, Bosch?

By @@

September 17, 2008 5:58 PM | Link to this

Good grief!!!!!

Was I way off on the towel thingy or what?

meet, have sex with; hoopy: really together guy

Paul?

By JAY BOOKMAN

September 17, 2008 6:02 PM | Link to this

Ah, Arthur’s towel.

I did love the movie, never read the book but intend to. The creativity and playfulness were really impressive. Damn funny too.

By N-GA

September 17, 2008 6:18 PM | Link to this

Paul,

I read (& enjoyed) the book(s). I’ve never been able to make it all the way thru the movie, but will give it another try.

Remember the days of LBO’s? Many of those were perpetrated by astute businessmen who took note of the fact that various employee pension funds were “over-funded”. That simply meant that the market value (at that moment) of the investments exceeded the calculated (anticipated) payout.

The buyer would purchase the victim, er company, and then liquidate the pension “surplus” to pay off some of the debt incurred in the purchase. Of course when the market dipped, the pension fund now was underfunded. Usually the acquirer would sell off some assets, people would lose their jobs…you know the drill.

BTW…KFC recognizes seniors when they reach age 55. I wish I were still….

By Paul

September 17, 2008 6:20 PM | Link to this

@@ 5:58

[[Was I way off on the towel thingy or what?]]

It’s quite understandable. Not to worry. The sentence referenced was merely used to explain a slang expression. Nothing else intended.

Your 6:01

Thank you, no.

Jay,

If one keeps in mind the book was conceived when Adams was lying drunk in a field in Innsbruck, gazing up at the stars, it makes much more sense. Well, more sense. Okay, a little sense. Maybe.

And it’s loaded with satire.

By @@

September 17, 2008 6:47 PM | Link to this

Your 6:01

Thank you, no.

I wasn’t offering anything dear Paulo! I thought……oh never mind. You men and your towels.

Snap!!!!!

Now I’m off to sing in the church choir. I will pray for your absolution and mine as well. (ISH)

By Tell It Like It Is

September 17, 2008 7:39 PM | Link to this

I believe that the Wall Street regulations were set up to avoid situations that led to the depression. Are we headed there again because the regulations were removed. Personally, I believe that we need regulations. To coin or paraphrase a popular statement…. Freedom is not free. Economic freedom is not free either.

By Gayle

September 17, 2008 8:01 PM | Link to this

Chris, the problem with many people, especially in the South, is RACISM. That’s what it all boils down to. They just can’t stand the thought of a black person being President. No matter to them that Senator Obama is intelligent, capable and strong, and McCain is none of these.

Senator Obama is what this country is crying out for. If people would just get over their prejudice and vote for who is best for this country. If only.

OBAMA/BIDEN ‘08

By Lewis

September 17, 2008 9:42 PM | Link to this

Was just watching Sarah Palin being interviewed by Hannity. Her solution to the problem: “stop greed on Wall Street”. Hmmmmmm…is it just me or is that really STUPID? That’s like saying we’ll prevent bridge collapses by reversing the law of gravity. McPain is just throwing empty phrases at the problem and praying it goes away. “Let’s form a blue ribbon committee and study it for a while!”.

By C

September 17, 2008 10:01 PM | Link to this

Lewis, it’s typical dumb Sarah Palin, Bimbo, Caribou Barbie, etc.

Her and No Brain McCain are Dumb and Dumber in disguise.

They don’t give a flying flip about our country, our workers, or the future of our nation.

By redstate guy

September 18, 2008 1:06 AM | Link to this

Have we frustrated, former republican conservatives not been saying McCain is a RINO?
It is puzzling how one who was imprisoned and tortured so, can, at times, fail to appreciate and understand freedom. Did you say Bahama was talking about “warning” or “warming”? Like global warming?

By redstate guy

September 18, 2008 1:07 AM | Link to this

Have we frustrated, former republican conservatives not been saying McCain is a RINO? Palin to the rescue? It is puzzling how one who was imprisoned and tortured so, can, at times, fail to appreciate and understand freedom. Did you say Bahama was talking about “warning” or “warming”? Like global warming?