Home > Jay Bookman > Archives > 2008 > September > 25 > Entry
DEL.ICIO.USIt’s not all THEIR fault, you know….
The Atlanta Journal-Constitution
So this is how the Reagan Era ends, not with a bang but with the whimpering and whining of Wall Street executives begging for a bailout from an American public they long treated like unsophisticated rubes.
In less sobering times, there might be some entertainment value in that scene. But not now. To make matters worse, we have no real choice but to give them the help they seek, although with a lot more strings than they claim are possible. It’s either that, or risk letting the whole country go down the tubes.
With this bailout, we mark not just the end of an era but the demise of the ideology that created it. Events have made it crushingly obvious that greed is a poor foundation on which to build a nation and a culture. It turns out that enforcing the rules is actually a good idea, and that debts both personal and public really do come due eventually, just like daddy said they would.
In that kind of environment, it’s no wonder that John McCain has beat a retreat from the campaign trail, declining to debate. The Republican talking points make no sense anymore; the Republican worldview lies exposed and empty.
But if we’re going to be honest, we need to acknowledge that the excesses of corporate America that are now so roundly ridiculed — the grotesque bonuses, the heedless risktaking, the disdain for rules — existed because the cultural values of this country allowed them to exist and in fact helped to create them.
Most of what’s been going on with Wall Street comes as no surprise. In recent years, it was almost as if we Americans took a perverse pride in the fact that we could pay our CEOs half a billion dollars to fail, as if that bloated excess was itself proof of our great prosperity and strength. We acted as if we were one of those tribes out of mythology that celebrated its prosperity by boasting how fat its kings and princes were.
And they weren’t the only ones getting fat. Go to Realtytrac.com and plug in your ZIP code. You’ll see a map showing hundreds of houses under foreclosure or facing auction in your area. Then start poking around into other neighborhoods — rich, poor, middle-class. The problem may be more concentrated in poorer areas, but it is significant almost everywhere, crossing class lines, racial lines, state lines and political lines.
As those maps demonstrate, Americans of every description succumbed to the temptation of living beyond their means, of accepting more risk than they could really handle. Much as we might like to toss tomatoes at Wall Street, they are merely the high-end exemplars of a mindset that became endemic in our culture.
How did we come to this? On the political side of the equation, it happened because the modern Republican Party sold its soul. A quarter century ago, the fiscally conservative, tight-fisted GOP, a party that championed a balanced budget amendment, suddenly convinced itself that deficits no longer mattered.
The reasoning behind that change of heart was obvious. When the much-beloved Reagan tax cuts inevitably produced massive Reagan deficits, conservatives faced a choice. They could abandon the tax cuts that had brought them great political success and power, or they could abandon their opposition to deficits. They chose to embrace deficits.
But that in turn created a bigger problem. If deficits don’t matter, then the rationale for small government disappears. If deficits don’t matter, we can cut merrily cut taxes year after year while also doubling defense spending and creating expensive new social programs. If deficits don’t matter, it’s all carrots, no stick.
In a culture that seldom worried about tomorrow, personal debt built up. Corporate debt built up. The national debt soared, and we financed our lifestyles by sending IOUs to places such as China and Japan and Saudi Arabia, IOUs that our children and grandchildren will have to redeem.
So while the most egregious mistakes of the era can indeed be traced to Wall Street and Washington, the rest of us shouldn’t feign innocence. We all grabbed a share of the pie.
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Comments
By hillbilly ragger
September 25, 2008 8:50 AM | Link to this
So, Pogo, we have met the enemy and they is us?
Probably a lot of truth to that, although for what it’s worth I never saw any value in Reaganomics, and always thought Poppy Bush was on the money when he called it “voodoo.”
===
In the now-dead thread below, I was gonna post:
Since you asked “What exactly is McCain up to?” I guess I should try to answer. I think this particular Hail Mary pass was intended to elicit a negative response from Obama that would nevertheless contain a counter-offer; namely, to have the debate in DC. It sounds reasonable and reasonable people on both sides could’ve backed Obama’s decision to re-locate the event.
I don’t think McCain thought Obama would flat-out call his bluff and say “thanks but no thanks.”
Now McCain is, presumably, stuck making the counter-offer to hold the debate in DC, and looking weak. It also serves to draw more attention to Obama’s and McCain’s recent voting records; Obama last voted in July, but McCain hasn’t bothered to show up to vote since April. And McCain didn’t have the excuse of a heated primary battle to attend to, either, so he doesn’t have a credible reason for having been away from the Senate all this time.
While I suspect the media will continue to give McCain ample opportunity to wriggle out and save face in the next day or two, McCain’s probably burned an awful lot of bridges in the past month or so and so the media won’t be as friendly to him as they’ve been in the past.
By TW
September 25, 2008 8:54 AM | Link to this
So, ‘w’s legacy will be Iraq and that he used what was left to bail out his buddies on his way out.
That’s just dandy.
Vaseline?
By Copyleft
September 25, 2008 9:00 AM | Link to this
As I’ve said before, the ONLY positive outcome of this mess is that the Reagan-era notion that “The free market solves everything, government is the problem” is finally dead and buried.
Laissez-faire, trickle-down, supply-side… all these Republican ideals of the past few decades have proven to be failures, totally and completely.
I’m no more thrilled than you are at the prospect of more government waste and spending, but at least the Big Government Republican breed is finally dying out. If we’re going to spend billions, let’s at least spend it on the PEOPLE, and not the corporations.
By Trigger
September 25, 2008 9:00 AM | Link to this
Of course Dem Barney Frank shares NO responsibility for this mess by not only refusing to adopt the Bush administrations recommendation to drasticly change Fannie Mae in 2001 (twice) but instead pushed for further loans to low/no income idgits.
Bad Bush
By BDAtlanta
September 25, 2008 9:09 AM | Link to this
An average Joe on NPR this morning said: “Ordinary people are being asked to bail-out greedy and dumb people.”
Greedy lenders and dumb borrowers. That’s hitting the nail on the head.
By AJC/DNC Management
September 25, 2008 9:09 AM | Link to this
So how many times are you going to run this column Jay?
And isn’t it indeed special, a socialist writing a column about the “death” of Reaganism using the opportunity of a disaster created entirely by socialism, and even further, a disaster that still may be staved off by Reagan free market capitalism.
I know you dullards have no idea of this, there are several government “bail outs” that wound up making money for the treasury, the airlines and automakers are just two good examples.
This new bailout, if left to be guided by those who do not want the economy to fail, could eventually turn into a gain for tax payers.
That’s Reaganesque as hell, ain’t it?
Leave to the same socialists that created the problem in the first place and yes, you may get your death of “Reaganism” as well as the death of America that you mindless, angry socialists lust after.
Speaking of which:
Paulson cannot be allowed a blank cheque By George Soros FT.com
Yeah, now there is somebody we should all trust, yeesh.
By N-GA
September 25, 2008 9:12 AM | Link to this
Somehow, Jay, I picture one of those blow-up kiddie pools in the backyard of the White House. It represents our economy, and it has some serious leaks.
The oilmen and investment bankers are all splashing around in the little pool, drinking martinis and swapping stories about the politicians they know.
Meanwhile, Bernanke and Paulson are on their knees with their butts in the air blowing like crazy on those little valves trying to keep the pool inflated.
At the same time, unemployment drops significantly as the US Mint implements a huge hiring program in order to run the printing presses 24/7.
By hillbilly ragger
September 25, 2008 9:12 AM | Link to this
Trigger, just stop. Enough with the “but Democrats…!” business, ok?
Obviously the fix we’re in — as Jay has outlined — had its origins with a whole lot of pigs sloppin’ at the trough. But let’s do face facts. Supply side economics were never going to work. You could never count on tax cut stimuli to forever fund a cycle of growth to cover the revenue shortfall.
It was stupid to think otherwise, yet many people believed, and too many continue to.
Enough already. It’s time to pay the damn bills, and to stop believing in the folks who think there’s a magic tax-cut wand you can wave to make the bills go away.
By Goldie
September 25, 2008 9:19 AM | Link to this
They chose to embrace deficits.
JAY— thank you. Well-stated once again!
By BDAtlanta
September 25, 2008 9:20 AM | Link to this
TW at 8:54,
Don’t forget Katrina incompetence, politicizing the Justice Department, illegal wire-tapping, suspension of Habeus Corpus, and sitting there reading a story on 9/11.
He has quite a lot to write about in his memoires…
Worst.President.Ever
By hillbilly ragger
September 25, 2008 9:21 AM | Link to this
“Bernanke and Paulson are on their knees with their butts in the air blowing like crazy”
Thank you for the appealing visual.
By Midori
September 25, 2008 9:26 AM | Link to this
This is a very good column.
RIP, Reaganomics.
You suck.
but then, what do you expect from people who tried to classify ketchup as a “vegetable”?
By BDAtlanta
September 25, 2008 9:30 AM | Link to this
To AJC/DNc at 9:09,
the “death” of Reaganism using the opportunity of a disaster created entirely by socialism,
Do you not understand that more regulation is socialism? Less regulation is capitalism. This mess was caused by deregulation.
By Grading Bookman
September 25, 2008 9:32 AM | Link to this
The Reagan Era ended last night with not walls crumbling and cold wars ending but with the simple sound of a simple man simply asking, “Buddy, can you spare a dime?”
Not since Tiananmen Square has one man stood in front of such an irresistible force. Can I hear an amen? (sorry)
Is the entire country guilty of causing the conditions that require this bailout? We all saw those $800K mansion going up like trailer parks with stucco. We all wondered, “Who can afford to buy so many of those amazing homes?” We need wonder no more. Nobody can afford those amazingly arrogant and now thoroughly obnoxious homes.
Oh, true, you can get that same mansion now for $700K but you’ll have to lie on the mortgage application about your place in the American Dream.
America forgot to enforce it’s securities regulations as readily as it forgot to celebrate it’s fat chicks. In fact, America is repulsed by securities regulations and fat chicks. The tomatoes we might throw at wall street should be conserved as part of a well balanced diet.
Johnny cant read, nor fathom securities fraud.
Does anyone really understand how a fat chick gets fat? Does anybody really care?
Our national metabolism has slowed down and we’re gaining weight. Forget universal health care, how about universal accounting?
I happen to have majored in accounting in college…….
By BDAtlanta
September 25, 2008 9:35 AM | Link to this
ohoh, another fox in the chicken house:
http://www.latimes.com/news/local/la-me-pickens25-2008sep25,0,763405.story
T. Boone Pickens backs Proposition 10, from which he would profit The oil billionaire wants California to invest $5 billion in rebates to help promote use of natural gas in vehicles, though few consumers could benefit.
This fella will take candy from a baby..
By Mike
September 25, 2008 9:42 AM | Link to this
LOL. After long and careful consideration, Bookman has come to the conclusion that it is all the Republicans fault.
Didn’t see that coming.
The truth is that Bookman’s analysis is irrelevant, as the conclusion is always determined before hand.
By AJC/DNC Management
September 25, 2008 9:44 AM | Link to this
BDA: You should pass up this opportunity to be the spokesperson for socialism, unless, of course, you intend to give socialism a bad rap.
Calling lending institutions racist for not throwing their money out the window is not “deregulation” by any means whatsoever.
By "The Corporal"
September 25, 2008 9:44 AM | Link to this
I don’t have all the answers here. No one does. I do well to balance my checkbook.
But I do know I have never been as disgusted in my life with demagogueing politicians (both parties), greedy, crooked corporate executives, babbling economists and the divisive press.
As an American veteran it makes me want to puke.
By Mike
September 25, 2008 9:45 AM | Link to this
BTW: here is another example of Democrats “taking the high road”. Bookman was all upset about the “uppity” remark. How does he feel about blatant race baiting by a Democrat Congressman?
Florida Congressman: Palin ‘Don’t Care Too Much What They Do With Jews and Blacks’
Email Share September 24, 2008 6:21 PM
ABC News’ Teddy Davis Reports: Florida Democratic Congressman Alcee Hastings pointed to Sarah Palin on Wednesday to rally Jews to Obama.
“If Sarah Palin isn’t enough of a reason for you to get over whatever your problem is with Barack Obama, then you damn well had better pay attention,” said Hastings. “Anybody toting guns and stripping moose don’t care too much about what they do with Jews and blacks. So, you just think this through.”
http://blogs.abcnews.com/politicalradar/2008/09/florida-congres.html
By Bosch
September 25, 2008 9:51 AM | Link to this
Jay,
Good column. It is all about all our greed.
I wonder if John McCain will have to sell some of his houses? Wouldn’t that be such a shame?
ByteMe: You win!
Yesterday a blogger that I had never seen before posted what I thought to be a very good post, but the last sentence really bugged me:
“The average American has no idea how much their way of life is at risk right now”
To which I replied:
“Paul Williams,
Nice post.
I would add though that the working poor and lower class - their “way of life” won’t be effected too much, and they are much more resourceful and have a better survivor instinct”
And I see after I left he responded to me with again, what I consider a good post:
“Bosch-
Unfortunately, I fear that the working class and lower class people may be affected even more than others due to the lack of reserve resources. If the banks fail, and credit resources literally freeze, small business won’t be able to obtain inventories or meet payrolls, and the lower end of the economic ladder will suffer as well.
I’m not even sure that public assistance checks will be honored at the banks. This is potentially bigger than what most of us have experienced in our lifetime. I hope that this is hyperbole, but fear that it is not”
Now, I think what this blogger is saying is perfectly believeable, I think this econmic turmoil will affect everyone, but I question who is better equipped to deal with the consequences - I say the lower end of the economic ladder. In my opinion, the guys at the top would rather jump off head first than give up their stuff.
By RealityKing
September 25, 2008 9:56 AM | Link to this
From reading this biasedly jumbled article, one has to conclude that Jay believes the US government is about to completely take over the global financial market and prove Reagan’s capitalistic instincts wrong.
Of course, the reality is that the US government is merely going to buy up packaged US Mortgages to relieve the impending credit crunch. A credit crunch that Americans desperately need to fulfill the attitude adjustment Reganonics requires of them for their free spending ills. Congress’ fix is going to free up creditors to lend even more money to the stupid. They are simply delaying the inevitable. What has our pitiful 110th Congress accomplished? Obviously the best they can do for us is go back on vacation..
By professional skeptic
September 25, 2008 9:57 AM | Link to this
This new bailout, if left to be guided by those who do not want the economy to fail, could eventually turn into a gain for tax payers.
Possibly. But that would mean forking over hundreds upon hundreds of billions of dollars to executives and corporations we no longer trust. As with every investment with the potential for gain, the potential downside must also be scrutinized. Where is the guarantee that they won’t take the cash, then turn around and do something equally scandalous again? Paulson and the rest of the Wall St. insiders sound like a bunch of addicted gamblers to me. “C’mon, just one more chance, just ONE MORE!! I’ll win big this time, you’ll see!”
And we’re not talking penny slots here.
By Bosch
September 25, 2008 10:05 AM | Link to this
And apparently, the gas shortage is all in our heads according to Sonny Perdue.
By Midori
September 25, 2008 10:10 AM | Link to this
And apparently, the gas shortage is all in our heads according to Sonny Perdue.
I stopped to get gas last night on my way home, to no avail.
I’m going to have to try again at lunch time.
No, it’s not in our heads. And gas isn’t in my tank, either.
By getalife
September 25, 2008 10:13 AM | Link to this
FDIC needs 150 billion to bail out local banks.
Car industry gets 20 billion loan. The raid and looting on the Treasury is out of control. Yet, the dow has not dropped below 10,000.
Millions are calling their reps from both sides.
This will not end well.
By Bosch
September 25, 2008 10:14 AM | Link to this
Midori,
Good luck. I’m getting my bike tuned up!
By AJC/DNC Management
September 25, 2008 10:16 AM | Link to this
ABC News’ Teddy Davis Reports: Florida Democratic Congressman Alcee Hastings pointed to Sarah Palin on Wednesday to rally Jews to Obama.
“If Sarah Palin isn’t enough of a reason for you to get over whatever your problem is with Barack Obama, then you damn well had better pay attention,” said Hastings. “Anybody toting guns and stripping moose don’t care too much about what they do with Jews and blacks. So, you just think this through.”
Each passing day the left let’s us know exactly who they really are.
So which side are you on?
By Grading Bookman
September 25, 2008 10:20 AM | Link to this
The Bush Doctine, the Reagan Era. Voodoo economics. Americans need to know if their president is a crook.
If the economy is fundementally strong, then we dont need a bailout.
Either admit that Bush’s Iraq war destroyed any chance we had for peace and prosperity, and explain the bailout clearly, like you know you can, or stfu about borrowing a trillion dollars, we dont need it if the economy’s so good.
One admission necessarily cancels out the other.
By Midori
September 25, 2008 10:21 AM | Link to this
McCain really, really p** David Letterman off last night
By GMAN
September 25, 2008 10:33 AM | Link to this
Try wingnuts to spin this crap and watch it get all over you! John “Mr. Magoo” McCain is the 2nd worst excuse for a presidential candidate I have ever seen in all my 52 years. I might have been brave in the 60’s but he’s a coward in the new millenium. He’s suspending his campaign and running back to Washington because he’s running scared and stupid. If he doesn’t show for the debate, it proves he has NO idea what’s going on and doesn’t want to get called on it. One sentence trite answers won’t get it anymore. The luster of Sarah “Elly Mae” Palin has worn off like the heavy makeup on a sweating Tammy Faye Baker. Mr Magoo & Elly Mae… Put a FORK in em’.
Bush/McCain - Gambling with your children’s futures!
By Truth
September 25, 2008 10:42 AM | Link to this
Hey GMAN… Her is a Bill Clinton quote:
“We know he didn’t do it because he’s afraid because Sen. McCain wanted more debates.”
Isnt he like a god to all you bedwetters?
By Midori
September 25, 2008 10:42 AM | Link to this
Palin looks like crap: “I’ll try to find ya some and bringem to ya”
By ByteMe
September 25, 2008 10:45 AM | Link to this
Bosch: it was a sucker bet. :-)
Jay, last night I heard that the $700 billion wasn’t just pulled out of the air, but was 5% of the total of all mortgages out there. Is that your understanding of the number?
I think there’s more to this story, if that is indeed how they derived the number.
By GMAN
September 25, 2008 10:46 AM | Link to this
Hey Truth… NO! But Mr. Magoo and Elly Mae are cowards, PLAIN and SIMPLE. Hey, Mr. McCain can Sarah come out and play?
Bush/McCain - Gambling with your children’s future
By Dennis
September 25, 2008 10:46 AM | Link to this
Some of what you wrote, like the last paragraph makes sense. Yet in 13 paragraphs you reference a Republican or the Republican party 8 times. Not one mention of a Democrat or the Democrat Party. Doesn’t that call into question your integrity?
I clearly recall the mess we were in when Carter was sent home. I am embarassed to admit that I voted for Carter, twice. I was messed up in the 70s.
I also clearly recall that Clinton followed the 12 years of Reagan & Bush. In my mind Clinton immediately cancelled the Reagan tax cuts by introducing the retroactive income tax increase.
Is your piece really your opinion? Or is it just an opinion created to support your political committment?
By Grading Bookman
September 25, 2008 10:47 AM | Link to this
Lipstick on Pygmalion
Perhaps Sarah is being tutored by Veep Coaches on how to explain the Bush Doctrine and debate properly…. Let’s listen in…..
“The push from bush falls mainly on MY tush.”
Excellent, Sarah. Now what would you do if you saw a liberal bill?
“I’d prima facia defacto veto”.
That’s great, Sarah, now try this: What if you met up with a market bear?
“Dont muss with my hair…”
What if you were misquoted?
“Look, all I want is moose somewhere. Far away in the cold night air. Add one wallstreet bear aw wouldn’t it be loverly….lots of liberals for me to eat…lots of vetos for me to keep…and I’d keep my makeup neat oh wouldn’t..it..be..loverly…?”
What if someone mentions the sinking polls?
“Dont despair sir, with a little bit ‘o luck we can still win the election. Now run along because I’m going hunting in the morning…ding dong the wolves are gonna howl….”
“I’m the guv’nah I am.”
By AJC/DNC Management
September 25, 2008 10:49 AM | Link to this
ABC News’ Nitya Venkataraman Reports: Former President Bill Clinton defended Sen. John McCain’s request to delay the first presidential debate, saying McCain did it in “good faith” and pushed organizers to reserve time for economy talk during the debate if the Friday plans move forward.
bwa
By Truth
September 25, 2008 10:53 AM | Link to this
GMAN… so Clinton is wrong in his assessment?
By RW-(the original)
September 25, 2008 10:55 AM | Link to this
Are any of you watching The Dunce speak by satellite?
He’s having a really tough time with that straight on teleprompter. It’s glitched on him three times and he just quits talking and starts over when they reload the script.
God help us if he gets elected.
By chagrin
September 25, 2008 11:01 AM | Link to this
Wow. Jay thinks the only way out here is to give these bums what they want. Fact is that is not true, but because both the Democrats leadership and the Republicans leadership say it’s so it must be true. WRONG. This does n ot solve the problem. Bailouts breed more bailouts. Fact is that the credit markets froze up last week BECAUSE WALL STREET KNEW THAT A BAIL OUT WAS IN THE WORKS. Why would you sell distressed assets last week if you knew you would get above market prices for them in a couple of weeks. You people should stop bickering if the Democrats or Republicans are to blame and understand BOTH were. Just like the S&L problem in the 80’s.
By Grading Bookman
September 25, 2008 11:14 AM | Link to this
BTW: Bookman, the correct intonation of your title, (could you understand our culture), is, “It’s not ALL their fault, you know…”
BOOKMAN!
By Jen
September 25, 2008 11:16 AM | Link to this
What does bwa mean?
Butt Wipe Ale?
The country code for Botswana?
Your method of internet access? Broadband Wireless Access?
And indicator of your senior status? Better With Age?
Your membership into the Baptist World Alliance?
Is it an aborted attempt at “bwahahahahahaha!”???
Your initials? Bennett Walker Anderson?
Or is it your “avatar”: Busy Wiping Asses
PLEASE…end the suspense!
By T
September 25, 2008 11:18 AM | Link to this
By Midori
Pack a lunch. Thats what I’m doing today. It helps when you are waiting in line.
By cc
September 25, 2008 11:20 AM | Link to this
not only did the bs about trickle down not work, but now republicans have created a system that’s even worse, trickle up!
By Lynnie Gal
September 25, 2008 11:25 AM | Link to this
If you were conscious during the Regan rein of power, you know exactly what Jay is talking about. After the period of idealism and shared sacrifice of the Carter admin failed, Mr. We-Can-Have-It-Anyway Regan charged up the national credit card and left ballooning deficits for us to clean up. It wasn’t until after the Clinton admin that we had tackled the Regan deficit and actually had a surplus, and our only concern was how and when to spend it. Clinton should have spent it to shore up Social Security, but instead left the legacy to W., who spent it on tax cuts and had us back in a deficit within 6 months of taking office. Now things are more serious because W. proved to be a total dolt. As history repeats itself, it will again take a Democrat to clean up Republican’s messes, both in the war and the economy. As Jon Stewart put it the other night, “This is just the turd icing on the Bush s—t cake.”
By Grading Bookman
September 25, 2008 11:25 AM | Link to this
Point of order: Bwa is from the Dilbert cartoon strip, where it has enjoyed years of popularity.
Pinch on, loafers, pinch on.
By Bosch
September 25, 2008 11:26 AM | Link to this
Well, it looks at though lawmakers are nearing a deal, so I guess McCain won’t have any excuse now for not showing up for the debate.
By Soothsayer
September 25, 2008 11:26 AM | Link to this
AT LAST! The mystery is solved. Day after day Andy, RW, Butt Wiper, et al. post their rabid right garbage on this blog.
WHY, WHY WHY? When they have a perfectly receptive rabid right blog just a mouse click away? I asked myself.
It’s simple, really. They don’t even dare show their heads on Woodenhead’s blog for fear of getting their @$$es kicked!
This is just not a good time to be rabid right.
By GMAN
September 25, 2008 11:33 AM | Link to this
Hey Truth! Don’t ou know sarcasim when you hear it? Just like Mr. Mcgoo & Elly Mae, you are so clueless!
Bush/McCain - Gambling with your children’s futures !
By AmVet
September 25, 2008 11:33 AM | Link to this
Notwithstanding the laughable complaints by the ostriches and lunatic fringe regarding this topic of unbridled avarice, Mr. Bookman, you sir, have the nail squarely on the head.
This fiasco is just the latest example of a society gone amok and is crisis of values as much a financial crisis.
Greed is good. Me first. Me always. The Reaganista mentality. No compromise. Gingrich and Rove. I’ll drive a gas guzzler because I want to and I can afford it. I’ll over consume and under produce because I can. I’ll help get other people’s kids killed, but like me , mine will never serve in uniform. What’s good for the community or the nation or the planet? Who cares.
It’s all about me.
The primary tenet of neo-conservatism.
And why they are so despised…
By Jen
September 25, 2008 11:34 AM | Link to this
I still don’t know what bwa means….
By AJC/DNC Management
September 25, 2008 11:38 AM | Link to this
Really?
Well then why don’t we just open a can of Wootenass on you over on this blog:
He’s a crisis ornament, repeating now the pattern of his public life. He’s best at second-guessing. His gig is to let somebody else do the heavy lifting in taking risks and making decisions and then to declare when they are imperfect afterwards that had he made them, they would have been smarter, wiser and better. In this campaign, he’s revealing why his life’s accomplishments outside politics are so thin. He’s a talker.
bwa
By Tom
September 25, 2008 11:39 AM | Link to this
Mein Gott! Relax, folks! Did you not witness Our Divine Fuhrer last night? Did He not ease your concerns? That look. That smile. Those articulate, reassuring “I’m-in-charge” words? Look sharp! Feel sharp!! Be sharp!!! He is a magnificent Fuhrer. Und now McDunce rides into Washington to the rescue this very day! Und we have new film of Sarah with the-laying-on-of-hands as the demons and witches are exorcised from her body und soul. These are strong Republican Family Values. It is what we asked for, und now we have it all. These are thee only matters you need concern yourselves with. Be thankful for the U.S. demise. Blame not yourselves. “They,” under the leadership of Our Chosen Fuhrer, did it. A happy Seig Heil to all who participated in His choosing! Stand proud - und Gott Bless Murcuh! Happy days are here again!
By Truth
September 25, 2008 11:40 AM | Link to this
Sorry GMAN, but he was being serious. It is called rational thinking. McCain has been asking for more debates… FACT! Keep hiding behind your delusions…
By RB from Gwinnett
September 25, 2008 11:41 AM | Link to this
Hey Jay, Just curious… Do you even pretend to be objective in your columns? Is it your opinion that you objectively look at issues and report them from the center or do you freely admit you’re biased toward the left?
By Bosch
September 25, 2008 11:41 AM | Link to this
Jen,
You had it above:
shortened version of Bwahahahahahahahahaha ha ha!
By tcoach
September 25, 2008 11:42 AM | Link to this
Why are people saying McCain is scared to debate Obama. Was it not Obama who refused 10 invitations to have town hall debates, Iguess those are below him to actually mingle with real Americans. Another thing was it not the great Bill Clinton who said tha it was McCain who wanted more debates. I guess any argument will do as long as it is for your party.
By Alvin
September 25, 2008 11:47 AM | Link to this
Michelle Obama is so ugly and stupid, she made poor Clay Aiken switch to boyz after she hit on him at a recent fundraiser.
By CommunistAJC
September 25, 2008 11:48 AM | Link to this
JAY BOOKMAN, End of Reaganism? Uh…..More like end of the AJC. Good luck in the soup line Jay. Socialist like you do not realize what danger lies ahead. You’ll soon be calling me comrade.
By AmVet
September 25, 2008 11:50 AM | Link to this
After considering her for a few weeks I have come to the conclusion, that Ms. Palin is a horrible running mate for Senator McCain.
She is simply WAY too neo-conically wrong on way too many important topics.
IMHO, she is completely unworthy of setting foot inside the White House, much less being in the wings should McCain blow a gasket. Which is an altogether distinct possibility.
I find it very hard to endorse an otherwise acceptable candidate for making such a poor choice.
Yes, I understand that the selection was primarily to enjoin the gullible sheep in the GOP’s base and to shore up the cracker factor.
Whether it is a surrender to neo-con positions by McCain is less certain.
But it speaks volumes about who he might pick to fill his cabinet, who his advisers will be, etc…
And after the past eight years of the most unqualified people imaginable in places of power running this American ship upon the rocks, we simply can’t allow it to continue.
By Jen
September 25, 2008 11:51 AM | Link to this
Thank you, Bosch, for clearing that up.
But bwa doesn’t have the same impact as BWA-HA-HA-HA-HAAAA!!!
It’s more like he’s saying, “Meh…”
Implying a lack of conviction.
By Alan
September 25, 2008 11:56 AM | Link to this
I don’t care how you spin it, it sounds like taking from the poor and giving to the rich to me. It stinks! Our democracy is beginning to look like feudalism to me. Paulson should be fired. He is indeed the fox, who has the nerve to say, “don’t ask me where the chickens are, you don’t need to know.” I am disgusted and I’m still angry about the S&L bailout. This will not end. These corporations are like homeowners who take out a second mortgage to pay off their credit cards and then run their credit card balance back up to the max. I say No Bailouts! Let the chips fall where they may. And, I’m glad Reaganomics voodoo is dead!
By hillbilly ragger
September 25, 2008 11:56 AM | Link to this
Hey, RB from not-so-red-anymore Gwinnett, are you familiar with the concept of “Editorials” that are published in the “Opinion” section?
If you are, then perhaps that would answer your question. You see, there’s also this fella called “Wooten” who does a “Thinking Right” editorial, reflecting a conservative view.
Or do you go over to his comments page and gripe that he’s not being sufficiently objective, as well?
Alvin @ 11.47, you must be blind. Mrs. Obama is gorgeous, although I could see how a small man like you might feel intimidated by her. Not sure if it’s mostly her intellect or her stature that bothers you, but us real men have no problem with either of those attributes in a woman.
By Truth
September 25, 2008 11:56 AM | Link to this
tcoach… These bedwetters dont wanna hear that. This blog is like that womens group from Jerry McGuire….
By getalife
September 25, 2008 12:03 PM | Link to this
Cheney Asserts Link Between Saddam and Mortgages of Mass Destruction
Market up 216.
What crisis?
By AJC/DNC Management
September 25, 2008 12:04 PM | Link to this
And finally, appalled by the media and chattering heads calling the whole mess a “crisis of capitalism” when the plain facts show the opposite. The whole “subprime mortgage” instrument was invented by bankers specifically to assuage heavy-handed Congressional demands to swell the number of minority and low-income homeowners, 20 years ago. Fannie Mae and Freddie Mac were already bloated quasi-government bureaucracies, dangerously freed from many conventional market disciplines. And among the chief beneficiaries of the current bailout are the most extravagant contributors to the Democrat Party.-David Warren, Ottawa Citizen
bwa
By Bosch
September 25, 2008 12:04 PM | Link to this
Jen,
You’re welcome and I see your point. :-)
tcoach,
The financial “rescue” will most likely be wrapped up today, so do ya’ think McCain will make it to the debate?
By GMAN
September 25, 2008 12:07 PM | Link to this
No Truth, you’re trying to spin something that was obvious sacasim! That the problem with you, you’re as clueless as Mr. Magoo & Elly Mae. The Old Goat has transformed into a “coward of the new millinium”!
Bush/McCain - Gambling with your children’s futures!
By GMAN
September 25, 2008 12:07 PM | Link to this
No Truth, you’re trying to spin something that was obvious sarcasim! That the problem with you, you’re as clueless as Mr. Magoo & Elly Mae. The Old Goat has transformed into a “coward of the new millinium”!
Bush/McCain - Gambling with your children’s futures!
By GMAN
September 25, 2008 12:08 PM | Link to this
No Truth, you’re trying to spin something that was obvious sarcasim! That the problem with you, you’re as clueless as Mr. Magoo & Elly Mae. The Old Goat has transformed into a “coward of the new millinium”!
Bush/McCain - Gambling with your children’s futures!
By conservative
September 25, 2008 12:11 PM | Link to this
Let me get this straight. The White House is telling us that we may recoup this bailout money because 93% of Americans pay their mortgages. So, am I to assume that 7% of American homeowners have the capacity to bring down the whole global financial markets? Give me a break!
By BDAtlanta
September 25, 2008 12:12 PM | Link to this
Is Cindy on drugs or does she just appear to have a really good over-the-counter buzz going all the time?
I guess if I were not only married to the flipper-flopper but also paying for all his damn houses and cars I’d be popping some pills too.
By AmVet
September 25, 2008 12:13 PM | Link to this
Reagan is irrelevant.
Except to the reactionaries who are still living in the past.
Much as Mr. Bookman’s article today puts the blame squarely where it belongs, on us, the American people, that Ronnie ever was relevant speaks of an electorate that was the fault for what has ensued.
We have become comfortable with abysmal mediocrity from our elected leaders. Many on the lunatic fringe refuse to even see it for what it is.
It reminds them of themselves.
They are much more interested in style and “experience” over substance and integrity.
Free thinkers in this nation are vastly outnumbered by the manipulated and the intellectually lazy.
Just look in the White House for proof…
By Bosch
September 25, 2008 12:14 PM | Link to this
Truth @ 11:56,
Jesus would not approve of your comment. Nice Christian values there.
I always think it’s funny when someone makes fun of the people on the blog - especially when they are an active participant - like you are somehow above it. Spoken like a true wingnut.
Would you care for a canape with your tea?
By fearless fosdik
September 25, 2008 12:18 PM | Link to this
By Alvin @ 11:47
Alvin, Is that your profound thought for the day?
Did you ever check out Barbara Bush?
I rest my CASE!
By Jen
September 25, 2008 12:19 PM | Link to this
bwa indeed.
meh….
It does bother me quite a bit when people are so mean about Michelles very ethno-centric looks. I find her to be very exotic and regal…but perhaps that’s because I am only 5’4” and look much like the majority of other women in this country….
By sunshine and thunder
September 25, 2008 12:20 PM | Link to this
JAY
The Reagan era is dead? Hell, I thought everything was Bush’s fault. At least that’s the tantrum the left has been throwing ever since getting squeaked out in Florida in 2000.
Well, if the Reagan era is dead say goodbye to 28 years of prosperity, tax cuts that actually increased revenue to the Treasury and at least lip service to fiscal restraint on spending.
As Reagan said: “it’s not that taxes are too low it’s that spending is too high.”
As Reagan also said: “the closest thing to eternal life on this earth is a government program.”
I guess the freedom of a moral people to engage in commerce is just an abhorrent thing to you leftists. Somehow, SOMEHOW, it will all work better if some government goon has his hand in the pie.
I’m trying to discover what it is about government people that separates them from the rest of us. Do they put their pants on two legs at a time instead of one? Do they have more than ten fingers on each hand? How does a person become morally superior to the rest of us when he/she crosses that threshold from private sector to government sector?
(BTW, why is it we only prosecute the briber of congress, never the bribee? It takes them both to transact doesn’t it?)
“The government consists of a gang of men exactly like you and me. They have, taking one with another, no special talent for the business of government; they have only a talent for getting and holding office. Their principal device to that end is to search out groups who pant and pine for something they can’t get and to promise to give it to them. Nine times out of ten that promise is worth nothing. The tenth time is made good by looting A to satisfy B. In other words, government is a broker in pillage, and every election is sort of an advance auction sale of stolen goods.”[H. L. Mencken]
By I'm Listening
September 25, 2008 12:20 PM | Link to this
How is Reagan responsible for Clinton era decisions to pressure lending institutions to make loans to unqualified low-income and minority individuals and businesses?
By AJC/DNC Management
September 25, 2008 12:20 PM | Link to this
Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton’s secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low- to moderate-income borrowers by the year 2001. -Ann Coulter
Dat settles it.
I’m right, as usual.
By tcoach
September 25, 2008 12:21 PM | Link to this
Bosch I certainly think McCain will be at teh debate if the bail out situation is resolved. Do you think the next time there is a national crisis Obama may at least check in with washington without being told to go?
Answer my questions, why did the great Obama turn down the chance at 10 yes 10 opportunities to debate already with McCain in town halls? Do you think he didi not want all of the craming he has been having to do for the debate to go to waste? Why is this debate so important as opposed to the other 10? In my opinion it is because this debate can help Obama with more people, while the others would have been less controlled and less was to be gained by Obama. When will you see this man does nothing in his life that does not benefit him first and foremost.
So tell me Bosch why is a debate over Foreign Policy, not economics but foreign policy, so important, while the other 10 opportunities were not?
Blame bush, McCain is a liar, blah blah blah,
I know all the normal spoon fed left wing responses. However this time use your own brain and intellect and tell me exactly why this is so important that eh notion of postponing is unbelievable.
By BDAtlanta
September 25, 2008 12:24 PM | Link to this
Johnny Mac took off from his campaign so he could watch the debate Friday night from his couch with a bowl of popcorn. Somebody wouldn’t wake him from his nap to tell him it was his debate.
By fearless fosdik
September 25, 2008 12:32 PM | Link to this
By AJC/DNC Management
September 25, 2008 12:20 PM
AJC/DNC .. Well if Ann Coulter said it, it must be TRUE…RIGHT?
The name Andrew Cuomo rings a bell…Oh yea…Now I remember!
When McDepends said he would fire Chris Cox (but, didn’t realize as president he wouldn’t have the authority) who was the person he said he would replace Cox with?
AJC…If you said ANDREW CUOMO you would win the little smiley face for your fridge.
By Bosch
September 25, 2008 12:40 PM | Link to this
tcoach,
Um, I don’t know why Obama said no. We’re not friends, he doesn’t call me to tell me these things.
But, you are aware of, I’m sure that presidential debates have been an institution for quite some time now. They are scheduled events - and maybe Obama, if I could guess, like I said, we’re not “buds” maybe wants to debate in an agreed upon, traditional fashion instead of reacting to a childhood type “dare.”
Out for a while.
By getalife
September 25, 2008 12:47 PM | Link to this
How Is John McDeregulater Going To Help Solve The Financial Crisis?
Keep calling and tell them no to the bailout.
Vote early and fire the gop
By T
September 25, 2008 12:55 PM | Link to this
conservative @ 12:11
Well, if you listen to Management, it was the 7% of minorities that caused all of this. Who knew? Had nothing to do with greed, or the thousands of McMansions with no one to buy them, shady lending, or faulty appraisals.
By Rufus
September 25, 2008 12:57 PM | Link to this
Good question, “I’m Listening” @ 12:20. (Reagan’s fault - LMAO!!!!). The liberals are the best at cranking up the revisionist/selective history hamster spin wheel. I’ll post this again since it was completely ignored last night.
PS: Did you catch Bubba Clinton slamming his own party? Gotta go run make money now so the poor can eat and have a *roof * over their heads…
House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.” Pelosi (D-Calif.) ripped President Bush’s “mismanagement” of the economy and a lack of regulation that led to the current situation.
Okay…from the NYT in 2003:
Among the groups denouncing the [Bush Administration regulations] proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
By the by - over 9 in 10 homes are not, I repeat, NOT behind in mortgage payments or in default.
By Truth
September 25, 2008 12:58 PM | Link to this
Boach… Like you said the other day… This is pure enjoyment for me. I need a break from work every now and then! You are right, Jesus would frown upon my name calling and for that I ask Him for forgivness… and GMAN I do apologize… and Im NOT being scarcastic!
By Truth
September 25, 2008 12:59 PM | Link to this
Boach… Like you said the other day… This is pure enjoyment for me. I need a break from work every now and then! You are right, Jesus would frown upon my name calling and for that I ask Him for forgivness… and GMAN I do apologize… and Im NOT being sarcastic!
By tcoach
September 25, 2008 1:02 PM | Link to this
Bosch, I answered your question with respect and an actual attempt to defend my opinion. Then since you do not have an answer that makes Obama look good you choose to run around the question. I do not know why or if McCain is going to do anything, we are not friends either. On other occasions you have said on this blog that Obama will do this and when he gets elected he will do that. I ask then if you cannot answer the simple question I asked then why should anyone on earth pay attention to anything you say about Obama your opinion should be null and void because you will only give genuine opinions on matters that help Obama.
I also love the sarcasm you employ when you do not have a good answer then say you have to go. I understand I would need some time to if the candidate I was supporting turned out to be a little less concerned about me than I have previously thought.
By Rufus
September 25, 2008 1:05 PM | Link to this
PS: Clinton’s economy was the BOMB, wasn’t it??
By @@
September 25, 2008 1:06 PM | Link to this
As those maps demonstrate, Americans of every description succumbed to the temptation of living beyond their means, of accepting more risk than they could really handle.
Don’t include me among those Americans jay. When we, as a society, were duped into thinking “progress” can be measured in material possessions alone, we failed to represent the character on which our country was founded. I don’t look back on those who brought us to where we are (past generations) and call them “backwards” in their thinking.
Their sound morals, faith, sacrifice, judgement, and work ethics are characteristics I proudly offer up to those who are lacking. Problem is, liberals have a tendency to ridicule them as non-progressive.
By Tonto
September 25, 2008 1:09 PM | Link to this
AC/DC, Your quoting Ann Coulter is hilarious. If she is not lying, her mouth is not moving. Blaming Clinton when Bush implemented the Ownership Society and encouraged (forced) the America’s Homeownership Challenge on real estate and mortgage finance industries. Don’t take my word for it. Go to www.whitehouse.gov the Bush web page and read it for yourself. I’ve copied key parts below because I know you are knowledge based challenged.
President Bush’s Policies Promoting the Ownership Society •
• Expanding Homeownership. The President believes that homeownership is the cornerstone of America’s vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America’s Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago. President Bush’s initiative to dismantle the barriers to homeownership includes: o American Dream Downpayment Initiative, which provides down payment assistance to approximately 40,000 low-income families; o Affordable Housing. The President has proposed the Single-Family Affordable Housing Tax Credit, which would increase the supply of affordable homes; o Helping Families Help Themselves. The President has proposed increasing support for the Self-Help Homeownership Opportunities Program; and o Simplifying Homebuying and Increasing Education. The President and HUD want to empower homebuyers by simplifying the home buying process so consumers can better understand and benefit from cost savings. The President also wants to expand financial education efforts so that families can understand what they need to do to become homeowners.
By You People are Clueless
September 25, 2008 1:23 PM | Link to this
The Feds created the chaos:
Financial Accounting Standard 157 is a regulation imposed on businesses by the quasi-private Financial Accounting Standards Board (FAS). This rule is also incorporated into the regulations of the IRS and is further enforced by the SEC and the FDIC. FAS 157 requires businesses to mark down assets to the lowest price for which similar assets have been sold in the market.
Now the Feds get to ride to the rescue. And just before the election?
In the old days just before winter solstice, some would sacrifice a human to get the sun to start rising back in the sky. The ignorant believed the leaders and their power.
So the Feds need a fast solution to a problem they would not even admit existed last week, and now they have the “magic solution” in 36 hours? They do not want the American public looking too deeply into the cause. They want you back to your tailgating and football by the weekend…..
You get what you deserve….enjoy the fleecing.
By Midori
September 25, 2008 1:27 PM | Link to this
good toon that accents this topic
By Hillbilly Deluxe
September 25, 2008 1:37 PM | Link to this
I would just like to take a minute to thank the Depression era folks who raised me. They taught me to pay as I go, stay out of debt, and not to trust politicians. Only about half of them ever finished school but damn they were smart people.
By Bosch
September 25, 2008 1:37 PM | Link to this
tcoach,
The answer to your question was that I don’t know why he chose to not attend the Town Hall meetings McCain dared him to come to. Seriously.
And, um, I’m an Obama supporter. Of course I’m going to talk more in favor of him. I guess you’ve missed the times that I’ve said I have a lot of respect for McCain, but I don’t agree with him on the issues and what he’s said he would do in office, which is why I’m not voting for him.
and um,
“you have said on this blog that Obama will do this and when he gets elected he will do that”
I have? No, I haven’t. I never speak in absolutes. I guess you haven’t noticed that about me either. Siths speak in absolutes, not Bosches.
And thanks for appreciating my sarcasm - sometimes I really don’t have a good answer, and I’m never afraid to say, “well, I don’t know.”
And, I really did have to go out, sorry if it inconvenienced you. And as always and with everyone here, you are more than welcome to skip right over my posts. I do that alot myself.
By WillieBkind
September 25, 2008 1:37 PM | Link to this
Tonto: If 9 of 10 homeowners are not late on payments/or default on their loans, then 90% is great. Are you perfect? Bush did good!! Why are you liberals not discussing “do nothing” Pelosi? She is the worst I have ever seen and you guys are giving her a free ride. The energy crises could already have a viable plan and in play and that would most likely prevented the latest economic slowdown. She is the heartache in America. She get a buy and you attack Palin. Is that your best? You wont even put her on the blogs…this is what makes you liberals pittyful. You really do hate America.
By tcoach
September 25, 2008 1:38 PM | Link to this
I know this is off topic and will most likely be removed but…
All of you that call those not voting for Obama racist, you maybe should listen or read what Sen. Hastings had to say. If that is not using race as a weapon in the race please tell me what is. I will guarentee that Obama does nothing to denounce his comments, cause once again it does not help him.
By Hmmmmm
September 25, 2008 1:40 PM | Link to this
I just wonder,, are the skies blue in that world you live in Jay! Jay, if you and your cronies are so hell bent on electing a man who has NO experience, who has proven NOTHING, who thinks government was meant to CONTROL everything, then why don’t you move. China, North Korea would be glad to take all you bed wetters!
By N-GA
September 25, 2008 1:43 PM | Link to this
I’ve posted this before, but many chose to ignore it. Then again, instead of reading talking points, they should try doing some research.
The pressure on financial institutions to lend to minorities (CRA & revised) was the result of 2 problems in the banking industry:
With CRA, banks could lend to whoever they wanted, provided they satisfied the needs of their communities. However, they had to report to the government their loan and deposit volumn by geographic area. In other words, they could have problems if they took their deposits from one area only to go and use that money for loans almost exclusively outside that area. And what could the government do to a bank that violated CRA guidelines? Well, the next time that bank filed a request to open a branch, it might be denied.
But banks and mortgage brokers used this as an opportunity to make a bunch of money. They invented “no money down” mortgages, “adjustable rate” mortgages, and “principal only” mortgages in order to finance loans for people with poor or marginal credit. All these assumed real estate values would continue to rise. And then there are literally thousands of cases where the mortgage brokers falsified credit data in order to get the “loan origination” fees.
All it takes to determine the accuracy of the credit information (job, salary, debt load, etc.) is a credit look-up, a phone call or two, etc. So the problem is not really the home buyer.
This (the home mortgage crisis + the housing bubble) was created by an industry full of greed, It could have been prevented with proper oversight.
BTW, I am LOL at all the amateur “investors” who were buying Destin, Panama City, Naples, etc. condo units in the pre-construction phase with the hope of flipping them at great profit. No empathy here!
By Bosch
September 25, 2008 1:44 PM | Link to this
Hey Midori!
Funny cartoon! Did you find some gas?
By Bosch
September 25, 2008 1:46 PM | Link to this
Truth,
Okay, but remember Jesus is always watching you!
:-)
By tcoach
September 25, 2008 1:50 PM | Link to this
Bosch much better not too hard to be truthful. That was a very apporpriate answer though, honestly. To your last point though, I will be more than happy to skip over your post, but yo did call me out by name without me every saying anything to you.
In all seriousness though that really was a good post, you are the first person to ever respond on here to me other than saying it is his fault or her fault. That was refreshing to see that there are people out there who have conviction in their views but are not blind to the fact that both candidates are flawed and it is up to each and evry individual voter to pick the person that best suites thier interest and values. I wish there was more discussions of honest, and realistic nature, instead of a continual blame game.
By Bosch
September 25, 2008 1:51 PM | Link to this
N-GA,
Thanks for posting that.
Can you imagine? Stuck with a condo in Panama City? If hell does exist and it is customized for each sinner - I think that would be mine.
By Midori
September 25, 2008 1:51 PM | Link to this
Bosch,
I found a station, but had to wait in line about 30 minutes.
Thanks.
By Bosch
September 25, 2008 2:03 PM | Link to this
tcoach,
I’m not a liberal loonie. I’m pretty liberal with social issues, but with politics? I’m actually pretty conservative about a lot of things.
I don’t name call - you won’t see it from me, except with Dusty once in a while. I like to tease her about being old because she calls me a “boy.” It’s a love/hate thing.
By AJC/DNC Management
September 25, 2008 2:04 PM | Link to this
By Tonto September 25, 2008 1:09 PM AC/DC, Your quoting Ann Coulter is hilarious. If she is not lying, her mouth is not moving.
Do you realize you just said that on a discussion board where the blog owner just this week devoted an entire column to one of the most hysterical moonbats to ever emerge from the fever swamps?
Oh, and by the way, Bubba Klinton agrees with Ann:
One policy Clinton said he doesn’t regret is his 1999 repeal of the Glass-Steagall Act, which, for the first time since the Depression, allowed commercial banks to engage in investment-banking activities. Clinton said the commercial banks were an important moderating force on the risk-taking of the big investment firms that collapsed this week. “In the case of the current crisis, I believe the bill I signed allowed Bank of America to take over Merrill Lynch,” he said.-Time
Gee, I thought this was a bad thing?
By Obamarosa
September 25, 2008 2:04 PM | Link to this
Let’s see. We blamed Reagen and Bush…wasn’t there also someone in between them that seems to once again skate by with no blame…funny how that works isn’t it…lol. Grow up and realize it is not anyone’s fault but our own. Buying crap we couldn’t afford. Now the successful bailout the unsuccessful…again.
By RW-(the original)
September 25, 2008 2:06 PM | Link to this
I was just talking to a guy that owns a Chevron station up the road from me. His station has been out of gas once for about an hour. According to him the real problem is that stations are waiting until they’re nearly out before placing an order in the hopes that they’ll pay a little less.
He also said he’s raking it in because people are coming from all over town.
If things get too bad in the rest of town I’ll fill up and then give you guys the address.
By Bosch
September 25, 2008 2:06 PM | Link to this
tcoach,
Another thing…..I am more than perfectly aware that both candidates are flawed, it’s a matter of who I agree the most with on the issues, and who I trust more.
Pretty simple. The other stuff is just fodder.
By Wyld Byll Hyltnyr
September 25, 2008 2:11 PM | Link to this
Jay, Jay, Jay, how many times must I wet nurse you - I am beginning to believe that you were really meant to do Bagdad Bob’s job or write for Pravda in the ’70s - the tax cuts did not create the deficits - revenues went up do to the creative vibrance of a low tax economy - the deficits were because of massive spending - just compare and contrast the most vibrant economies (low tax) with the most moribund economies (high tax) on the face of the earth. Jay, your just killing me with your reluctance to embrace reality.
By Truth
September 25, 2008 2:12 PM | Link to this
Bosch…. He walks with me and He talks with me….
By Bosch
September 25, 2008 2:20 PM | Link to this
Truth,
Well that’s real handy.
By AJC/DNC Management
September 25, 2008 2:34 PM | Link to this
So you libs want us to be liked by the world, eh?
How about if they just love us?:
NEW YORK (CNN) – Sarah Palin and the foreign leaders she has met with in New York have said very little to reporters over the last two days, but the press happened to be in the room on Wednesday for one eyebrow-raising exchange, as the new president of Pakistan lavished praise on Palin’s looks.
On entering a room filled with several Pakistani officials this afternoon, Palin was immediately greeted by Sherry Rehman, the country’s Information Minister.
“And how does one keep looking that good when one is that busy?,” Rehman asked, drawing friendly laughter from the room when she complimented Palin.
Pakistan’s recently-elected president, Asif Ali Zardari, entered the room seconds later. Palin rose to shake his hand, saying she was “honored” to meet him.
Zardari then called her “gorgeous” and said: “Now I know why the whole of America is crazy about you.”-CNN
She’s a hit.
Now check this out, she tells them to kill all the al Qaeda and Taliban within their borders, do you really think they would say “no?”
We could have Has Been Laden on January 22nd.
bwa
By Time for an overhaul
September 25, 2008 2:43 PM | Link to this
I’ve said it before and I say it again, this mess was created by both parties. This laying of blame and pointing of fingers and doing NOTHING on both sides of the aisle have gotten us here. THERE IS AMPLE BLAME TO BE SHARED BY THE DEMOCRATS AND THE REPUBLICANS!!!
Instead of fingerpointing and blaming wouldn’t it be nice if we all got off the porch and actually demanded real change & action from our government. Thing that would make a difference in the important issues: economy, education, healthcare, immigration, etc! No more business as usual from either side…
Part of the problem with this country today is we are all so caught up in the party rhetoric and only regurgitate the crap we hear on the evening news (CNN, FOX, CNBC) or we read in the liberal trash newspapers. We base our opinions on the opinions of the Party we’re affliated with.
Anyone who is foolish enough to think that anything is going to change whether it’s Obama or McCain is very foolish indeed. The machine is too big, it will take a lot more than either that these two clowns have to offer to change this government.
We need to fire them all and start over (including Congressmen/women, Judges, Senators, Speakers). What have any of these people (both parties) really done to help the American people - the answer is pretty straight forward…not much!
Why are we still paying the Clintons, Carter, Daddy Bush, etc. They’re no longer in office cut their pensions….you’ve already trashed mine…
By N-GA
September 25, 2008 3:03 PM | Link to this
WBH,
That nonsense about tax cuts increasing Government revenues, etc. has been debunked repeatedly. Use Google and you will be rewarded with more than you ever care to read about the subject.
The only time you will see a real revenue spike when taxes are cut will be for a short period after a cut in Capital Gains taxes. Then people who have been waiting for such a cut will take the opportunity to realize those gains. On the flip side, when an increase in the Capital Gains tax is anticipated, people will try to realize their gains before the increase occurs while deferring their realized losses.
None of this makes any difference to the average voter, except when they buy/sell their home and choose to realize a gain (or loss). Usually this stuff affects higher net worth people who make lots of campaign contributions.
By Duke
September 25, 2008 3:05 PM | Link to this
You begin, “On the Republican side…” Conceding nothing, I will not reply. I am disillusioned with the Republicans, and am not an apologist for them; but I do not necessarily approve your critique. But what about the Democratic side? You only wrote half a column.
Regulators have forced lenders to make loans to dead-beats. The vast majority of sub-prime loans are to minorities, and even illegal immigrants. Lenders who refused those loans would be sued for discrimination, regardless of the atrocious credit histories of the applicants. Many have issued warnings to Congress about this, but Democrats rejected those warnings. Also, the implied government guarantees for Fannie Mae and Freddy Mac, now explicit guarantees, also encouraged lenders to assume high-risk mortgages. Again, we have had this conversation a few times with the Democratic Congressmen. I don’t know that the Republicans have been much better; but until I have formed an opinion, I concede nothing.
It is the typical cycle. The bigshots inflate the money supply and promote loose credit. Businesses must borrow to keep up with the competition. When the crunch comes, suddenly the same bigshots are hard money advocates. They deflate the money supply, businesses can’t service their debt, and the vultures repossess at pennies on the dollar. They deliberately destroy the economy to justify a government takeover. We long ago passed the point where there was any honorable way out of this.
By Rick
September 25, 2008 3:33 PM | Link to this
Tax cuts were never the problem and still are not the problem. Spending is the problem and spending is the drug that has become the addiction for the politicians of both parties and the country as a whole. Don’t give me this BS about supply side economics not working, when we as a people stop voting for more money in our pocket and instead demand that Washington DC live within a real budget then and only then will we see any real change. Problem is the Democrats are wanting to spend the savings from quitting the war on thier social deals (still deficeit spending) and the GOP want to bail out thier country club buddies. I say put them all on a boat send it out 10 miles and sink the damn thing.
By Time for an overhaul
September 25, 2008 3:52 PM | Link to this
Rick - I like the way you think! Everyone in the government needs to learn to spend based on a budget…if you don’t have it don’t spend it. Problem is when the Gov runs out of money…they just print more, tax more and spend more. Both parties need to focus on balancing the budget and cutting spending.
They could start with the elimination of deadbeat agencies of the government, stop shipping money to countries who hate us and use the money to build weaponry, get out of Iraq in an organized manner. Eliminate the add ons to proposed legislations that end being pork projects for somebody’s special interest groups.
The Democrats & the Republicans need to be reminded that they are supposed to be in the service of the American taxpayers, not in the business of self-service…most have forgotten that! Too bad we didn’t have a really good independent candidate….
By Time for an overhaul
September 25, 2008 4:01 PM | Link to this
another area where we could save a boatload of taxpayer money is actually REALLY dealing with the illegal immigrant problem and making it so damn easy to get on the government hand out program.
Instead of bailing out AIG to the tune of $700 billion or whatever the final number, cut a check to every American register citizen over the age of 18 for an equal share of that money and just watch it fuel the economic engine….but no we need the government to handle that for us…HMMMMM
By yankee
September 25, 2008 4:23 PM | Link to this
At the end of today the same people are in charge. How mmuch is the next bail out? We’ll have to do it cause we already spent 700 zillion. Kinda like we can’t stop the war cause we already killed 4000. It can’t be for nothing, so lets make it be for more.
By Obama is DA MAN!!
September 25, 2008 4:27 PM | Link to this
Obama will be a GREAT Muslim President of the United States.
Obama will get his fellow Muslims in OPEC to make our gas cheap forever.
Obama will ask Allah to protect us all from hurricanes.
Obama will make all them sorry rich people get down to be equal with the rest of us!
By Wyld Byll Hyltnyr
September 25, 2008 4:28 PM | Link to this
N-GA -
The stuff you googled “rationalizes” (i.e. adjusted for this, adjusted for that, if you took out all the Tuesdays and Wednesdays in a month, adjusted for how high inflation would have been in Yassar Carter were still in office, and on and on…) the only data that matters is the hard data - how much did the government collect following tax cuts - that my friend is indisputable - the problem is spending
By AJC/DNC Management
September 25, 2008 4:29 PM | Link to this
Gosh, it almost sounds as though as soon as the goons in Washington thought McBushie was going to get credit for passing the “bail out” it caused them to get up off of their fat, whiny, do nothing as-ses, don’t it?
Yesterday, there were 4 Repugs in favor of it, today they all are.
McCain is the man.
His very words move, uh, mountains.
By GaNative
September 25, 2008 4:47 PM | Link to this
Since the American Taxpayers are funding this bailout, the government needs to go one step further than monitoring the corporate execs salaries. They need to make them bring every daggom job that they have offshore back to America and they need to make sure that nobody works at their American corporate headquarters but American citizens. It’s only fair since we are footing the bill.
By GaNative
September 25, 2008 4:52 PM | Link to this
McCain is running scared now that he sees the numbers changing and more corporations falling in this great economy that Bush characterized as being only a Hiccup. The economy is shidding bricks now and I wouldn’t vote for another republican if God himself was on the ticket and threatened to cast my azz into hell.
By GaNative
September 25, 2008 5:04 PM | Link to this
And you guys need to stop buying into that theory that all the loans were bad loans to deadbeats and minorities that could not afford the house. I’ve seen plenty of white folks who have owned their home for years lose it this past year. Shid look at bankruptcies. Senior Citizens are filing bankruptcies in record numbers now. These were established folks who saw everything they had go down to nothing. You can’t continue to pay your mortgage if you don’t have a job, and i don’t give a shid what color you are if that happens. You can’t make bank deposits if you don’t have a job. And it don’t take a rocket scientist to figure out that most of the American people are either unemployed or under employed, so it’s no wonder banks and investment firms are failing.
By CommunistAJC
September 25, 2008 5:27 PM | Link to this
JAY BOOKMAN HACK AJC WANNABE WRITER,
I found this from a 1999 article written by the NY Times. This economic crisis is ALL THE DAMN DEMOCRATS FAULT. Bill B***** CLinton and company.
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates — anywhere from three to four percentage points higher than conventional loans.
”Fannie Mae has expanded home ownership for millions of families in the 1990’s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.
”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”
Under Fannie Mae’s pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 — a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation’s biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990’s. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University’s Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.
IT’S ALL THE DEMOCRATS FAULT. PLAIN AND SIMPLE.
By GaNative
September 25, 2008 5:31 PM | Link to this
hummm, I guess the billions we spend everyday in IRAQ is the Democrats fault too, huh? I knew this Bush administration was rotten to the core when Colin Powell quit on them.
By GaNative
September 25, 2008 5:33 PM | Link to this
When is Sarah Palin going Moose Hunting with Dick Cheney so he can shoot her in the azz?
By CommunistAJC
September 25, 2008 6:14 PM | Link to this
GaNative, Iraq is Saddams fault. For not COMPLYING with UN resolutions how many times? Anyone, anyone? We’ve won Iraq. Mission Accomplished, Hack! Go sell stupid somewhere else.
By dave
September 25, 2008 6:36 PM | Link to this
Jay,
I keep thinking one of these days you’re going to get it right. One day, but not today. Why don’t you look at the Clinton Era on this one, but that would mean you’d have to base your rants on the facts. Maybe tomorrow, but probably not!
By Algonquin J. Calhoun
September 25, 2008 6:37 PM | Link to this
Commie, moron, you haven’t won a thing except the complete, unanimous hatred of the rest of the world. The American empire is ending and I relish that. America is broke and soon we’ll have a nation of a few rich and a multitude of the destitute. it started with the old fool Reagan and ends with the little thief from Texas. Yeeha!
By GaNative
September 25, 2008 6:40 PM | Link to this
The Clinton era never had my azz standing in the unemployment line or the gas line. The Reagan era either… I call it like it is.
By GaNative
September 25, 2008 6:45 PM | Link to this
Where is Pat Robertson and Jerry Fallwell when we need em? They’ll tell you why the Hurrican hit Texas. It’s God’s sign of his displeasure with Bush. That’s his home state. Lil lying bow legged phucker.
By Algonquin J. Calhoun
September 25, 2008 6:45 PM | Link to this
When Clinton was president a bottled water was more expensive than a gallon of gas! George W. Hitler has bankrupted this nation!
By Algonquin J. Calhoun
September 25, 2008 7:05 PM | Link to this
Sen. Richard Shelby, ranking Republican on the Senate Banking Comittee, emerged from the White House to declare of the bailout plan: “It will not solve problems, it will create more problems.”
By Arch Stanton
September 25, 2008 7:54 PM | Link to this
Jay: After Katrina hit the Democratically controlled Congress instituted My Community loans through Fannie Mae for poor people with income less than 50% of the county median. To make matters worse, they later came out with NINJA loans: NO Income, No Job, No assets loans and one paid No closing costs. Care to guess how many of these loans have been defaulted on?