Home > Jay Bookman > Archives > 2008 > September > 26 > Entry

Spray a little tax cut on it, it’ll be fine

Remember the father in “My Big Fat Greek Wedding”? Whatever the problem, Windex would cure it.

House Republicans have their own version of Windex: Tax cuts. Their solution to the biggest economic crisis since the Great Depression? Tax cuts. More specifically, tax cuts for dividends and capital gains. And apparently they intend to hold their breath until they get them.

Well, I got news for ‘em. If the market really starts to tank because of their little tantrum, the capital gains tax will be zero because there won’t be no steeenkin’ capital gains to tax for the next 10 or 20 years.

Democrats claim the Republican rank and file are balking at a deal just to give John McCain a problem to solve with his Dudley Do-Right act, riding back to Washington to rescue the country. I don’t think that’s accurate, and the Dems know it.

House Republicans — and not a few in the Senate, including Richard Shelby of Alabama — are rejecting the Wall Street bailout because it offends their tender Reaganite sensibilities. They want a whole different approach, including tax cuts and some sort of privately financed mortgage insurance mechanism.

I understand their distaste for the Bush plan. It sucks. Hundreds of billions of dollars to rescue Wall Street? It sucks, and nobody likes it. But we are truly in a crisis, and I happen to think an approach put together by people such as Fed Chairman Ben Bernanke has a better chance of succeeding than a plan created to satisfy the small minds of the ideologically frozen Republican core, a group whose entire economic understanding consists of cutting taxes and hating government.

But getting those folks to move will be difficult, and I doubt McCain has much leverage with them. They never liked him to begin with because in their eyes, he lacked ideological purity. Georgia’s seven Republican congressmen are no doubt right in the middle of the anti-bailout faction, and not a single one of them backed McCain in the primary. As Rep. Jack Kingston once memorably complained, McCain “lets Kennedy write the bills then puts his own name on it.”

So here we are, in one helluva standoff.

“We are working to try to get this bill ready, but if House Republicans continue to reject the president’s approach, then there’s no bill,” says Rep. Barney Frank, chair of the House Financial Services Committee. “We told Paulson the whole thing is at risk if the president can’t get his own party to participate.”

“We’ve not seen any way to getting majority [Republican] support,” counters Rep. Eric Cantor of Virginia, one of the architects of the GOP alternative approach.

Meanwhile, there’s the debate tonight. I suspect that by now, McCain realizes that his rashness has put him in quite a predicament. He would love to find a face-saving way to show up in Mississippi tonight, but how?

If the debate does come off, we’ll be live-blogging it here. But the odds of that are 50-50 at best.

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Comments

By hillbilly ragger

September 26, 2008 7:51 AM | Link to this

Jay, the Tax Cut Tinkerbell’s delivered electoral goodies to Republicans for 28 years. Why shouldn’t they go on clapping?

If they don’t clap, Tinkerbell dies!

By AJC/DNC Management

September 26, 2008 7:53 AM | Link to this

Meanwhile, the democrats propose new spending, spending China’s money:

Top Senate Democrats unveiled a $56 billion plan to stimulate the economy, including proposals to extend unemployment benefits and help states pay for Medicaid.-Urinal

They could “stimulate” the economy by reducing the tax burden on the financial institutions that drive our economy but I guess that is too simple to understand.

By TW

September 26, 2008 7:56 AM | Link to this

Wonderful. So, the ignorant ‘support the troops’ block has now adopted ‘no bailout’, uneducated enough to know that the painful shot is worse than catching the illness.

By Felix

September 26, 2008 8:11 AM | Link to this

As I predicted, they’ve found another wedge issue to exploit. I say go ahead without them and take your chances the electorate will understand the severity of the situation. As for the debate, let Obama have the entire time to explain his many complex proposals. Was McCain unprepared or just playing politics?

By Ted Striker

September 26, 2008 8:20 AM | Link to this

I figured a few fans of Bill O’Riley, Sean Hannity, and Rush Limbaugh would be awake and commenting this morning.

It can’t be easy seeing their candidates (war hero and Alaskan zero) screw the pooch.

By BDAtlanta

September 26, 2008 8:22 AM | Link to this

WAMU is down too.

Glad I’m taking Mandarin language classes.

By T

September 26, 2008 8:24 AM | Link to this

By AJC/DNC Management

Aren’t the tax payers stimulating the economy buy buying major financial institutions debts?

But then I guess it would be a shame to have some of those tax payers get a little unemployment. I hear there are a lot of lay offs, and it’s a little hard to get a job right now.

Besides, Democrats and Republicans are both spending China’s money. I guess its how you feel about what they spend it on, that matters.

By Dennis

September 26, 2008 8:31 AM | Link to this

It appears that McCain has again put his and my country ahead of the campaign for President. He has the integrity to stand up for what he believes.

Meanwhile Obama rehearses for a question and answer show that people continue to call a debate.

And Jay:

Jay makes fun of McCain because Jay claims a deal is done, but Jay does not have the integrity to acknowledge his own error.

Jay makes fun of one of Palin’s responses to Couric, but does not have the integrity to ever mention an Obama or Biden blunder.

Integrity: Not an atribute if you are a Democrat or “journalist/opinon-blogger”.

By AJC/DNC Management

September 26, 2008 8:32 AM | Link to this

Superior Bank failed because of the same problem that is bringing down all the banks now: subprime loans. Who got the bank into those loans? Obama’s own finance chair, Penny Pritzker. Sworn deposition testimony puts Penny Pritzker not only on the board of the bank and its holding company, Coast, but personally leading the meeting to persuade regulators to let the bank into the subprime market.

On 60 Minutes last Sunday (Sept. 21), Senator Obama blamed the current banking crisis on “greedy CEOs and investors taking too much risk.” Well, Senator, you’ve got one of those “greedy CEOs and investors taking too much risk” financing your campaign, and writing your website for you, passing the buck to the accountants.

By GMAN

September 26, 2008 8:49 AM | Link to this

John McCain afraid to debate Barack Obama?

You bet! The “New Millennium” coward knows that he will have to explain how he differs from George Bush, and that my friend will be his further unraveling. If his differences aren’t significant (which they aren’t) the American people will see that he represents four more years of the same mismanagement of the public trust. His choice for VP has been exposed as window dressing and nothing more. Mr. Magoo is in a quandry. If he doesn’t show for tonights debate, he’s exposed. If he does show for tonight’s debate, he’s exposed. This evening is going to be GOOD!

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

By Bud Wiser

September 26, 2008 8:54 AM | Link to this

Jay, Jay, Jay, you have lost your focus again. If it rains, its the Republicans fault; if it doesn’t rain, its the Republicans fault; if your toilet doesn’t flush, its the Republicans fault. Please, get some new material.

I wish I had written his name down, but there was just now a Democrat representative on Fox News who, when asked about the responses of his constituents by phone or email to this giveaway package, he said it was running “50% no and the other 50% Hell No!”

Correct me if I am wrong, but don’t you people believe that Congress is there to try to impose the will of the people, instead of the Democrats’ way of imposing their will on the people? Elitism at its worst (again).

The Democrats do not want a deep investigation into this banking issue, and with good reason. It will in all probability show that actions proposed and taken by them in the ‘90’s, under Bill Clinton, such as making loans available to low income and minorities, is the backbone, the cancer that has brought this about.

America, and by that I mean working America, is fed up to here with impotent, greedy and sleazy politicians, and greedy, manipulative Wall Street. Someone is going to pay a heavy price for this. I’ve got money that says Democrats will scream and wail and cry at every turn when this settles into what it becomes, and do everything in their power to block a full scale investigation, not only into lending practices, but ‘in-house’ rules from politicos laying the groundwork for this mess.

The Token One flees back to Mississippi because he doesn’t want his impotence to show. Some President that fool would make….run away at the first sign of trouble. Had he been President during 9/11, no doubt he would have taken the presidential jet not back to Washington, but perhaps a Sandals resort in Jamaica, saying as he was waving goodbye, “call me if you need me.” Kind of like what he’s doing now.

Obama/Biden ‘08 - making it easy to be stupid

By ByteMe

September 26, 2008 8:55 AM | Link to this

Jay, I think the odds of McCain showing up at higher than 50-50, just because to not do so would risk leaving Obama alone with airtime for at least an hour on numerous TV networks.

Like any good politician, McCain will declare victory over the problem and show up, regardless of whether he really had a victory. That’s for the spinners to dish out and the always-gullible media to swallow. “Campaign suspension” indeed! The ads never really stopped, neither did the field offices. But the media swallowed it whole.

By ByteMe

September 26, 2008 8:58 AM | Link to this

Just read an interesting piece this morning on the parallels between our real estate crisis and Japan’s. Looks like we’re making the same mistakes they did… after we told them to let the banks that screwed up take a dive, Japan instead tried to prop them up and spent the next decade with no growth and no investment money. Sound familiar?

By Peyton Walters

September 26, 2008 9:00 AM | Link to this

So, I guess this make those House Republicans Nero-conservatives? Resin up that fiddle, boys.

By Pat

September 26, 2008 9:04 AM | Link to this

Jay, I’m still stunned at how many people still cannot simply connect the dots to figure out what’s happened here. We have imbeciles before the cameras, yammering, hammering Wall Street, talking about protecting taxpayers, then - in the same breath - saying regulation is the problem!

Somehow we have got to start requiring classes in logic and critical thinking in our public schools. People no longer understand basic principles of cause and effect.

Right-wing Republicans worship one God alone - the free market. Even as it free-falls, all they can do is sputter rehearsed Reagan talking points: free market good, regulation bad. They’re like pre-Gorbachev Russian commies blindly wed to Marxist fantasies about collective farming - don’t bother mentioning reality. In both cases “idealogue” and “idiot” reveal their common roots.

By Truth

September 26, 2008 9:05 AM | Link to this

GMAN…. I know you dont like facts, but the fact is that McCain asked for MORE debates and Obama refused… FACT!

By RB from Gwinnett

September 26, 2008 9:06 AM | Link to this

Hey Jay, How you coming with that Obama foreign policy support? Come up with anything yet? Anything? Can’t handle the tough questions? You brought a knife to a gun fight Jay. You should be smarter than that. ATL deserves better.

By Taxpayer

September 26, 2008 9:14 AM | Link to this

So, the meat of the Republican proposal is to slather on the lipstick on that big bailout and call it an insurance policy. Only a Republican would be stupid enough not to call that the same pork with a different wrapper. Let’s see Jimmy Dean or Oscar Mayer all pork sausage, which has the least pork. The Republicans are holding things up so they can offer what! Is that all they got! A STUPID idea of repackaging the $700 billion bailout in a different package and paying for it with another tax cut for the wealthy. Someone, show these children to the door. This is absurd.

By Bosch

September 26, 2008 9:17 AM | Link to this

I think it’s pretty hilarious that the GOP is trying to create some kind of image of themselves as being fiscally responsible NOW - yeah, NOW, after they’ve completely bankrupted our country with the war.

NOW they suddenly care about the taxpayers, NOW.

And John McCain is pulling one of the biggest stunts of his career. What an embarassment.

I think I can speak for many who do not agree to a bailout the way it was initially proposed. I feel that we must completely re-structure our financial industry and work to change the greediness and the “more, new, shinier, more, more, more, me, me, me” attitude of the average American.

But the joint statement issued by BOTH candidates, and the provisions they had negotiated in the new plan seemed reasonable. I don’t know what McCain’s problem is to be backing away from this now.

Unless of course, he doesn’t want to debate which I think it the real problem.

Oh, and BTW, I watched the Palin/Couric interview last night. What a nightmare. They were playing it on CNN last night, and all the commentators were completely aghast-even the Republican ones-no one would say much - they should have cued up crickets chirping - it was again, embarassing.

AND, the best line I’ve ever heard on a news show - Paul Begala called Bush a “highly functioning moron.” I fell off my bed laughing.

By AlphaDog

September 26, 2008 9:21 AM | Link to this

Eliminate Corp tax rates would increase business profits by +30 percent. I do think that would boost the economy…

By RW-(the original)

September 26, 2008 9:24 AM | Link to this

Live blog? Here???

If the debate happens good luck live blogging with a ten minute delay for comments to post. The only debate you could live blog on this craptastic server would be the VP debate and only during Biden’s rambling “answers.”

By Swami Dave

September 26, 2008 9:24 AM | Link to this

For the sake of argument, what would be the problem with an alternative that supported continued private ownership / management of our industrys?

Assuming that tax cuts on dividends and capital gains coupled with some cooperative effort to provide reinsurance (private, government, or both) to the securities in question might be a viable option, why would we not entertain it as a way to avoid the dovetail into socialism that parts of the original plan seem to be? If there can be a market-based solution to the problem where our private markets participate in cleaning up the mess (created by many within that market) without the tab just being dumped wholesale onto the taxpayers, what would be the problem?

For the record, some of the procedural components of the original plan should be a part of any alternative. Specificially, tying executive compensation to meeting objectives of any plan (paying it back) and company performance, legitimate accounting standards for valuation & estimation of risk, and, most importantly, continued focus on reintroducing standards-based underwriting practices to the approval of mortgages & commercial instruments.

Personally, Jay, I would have thought that you’d support such a alternative. Was it not you highlighting the “socialist” nature of it when first floated?

—Swami Dave

By ByteMe

September 26, 2008 9:31 AM | Link to this

Bosch, I saw Begala say that as well and cracked up. Why couldn’t someone have mentioned that in, say, 2000?

By Ted Striker

September 26, 2008 9:35 AM | Link to this

Republicans are like little kids passing gas and trying to blame it on someone else in the room.

By Maniac is accurate

September 26, 2008 9:36 AM | Link to this

Palin: Visual accuity and proximity should count as foreign policy experience.

OK, she’s grasping at straws against a weapon the media is using to beat her up with. She has as much foreign policy experience as Bill Clinton did before he was elected. She has as much foreign policy experience as Jimmy Carter did before he was elected. She has as much foreign policy experience as Ronald Reagan did before he was elected. She’s not going to be Secretary of State, now is she?

So, she’s a bad joke, eh, Bookman?

When the stock market crashed in ‘29 FDR (who wasn’t president) got on television (which didn’t exist) to explain it …

That’s a worse joke, or at least equal, n’est pas?

– Peyton Walters

By Pat

September 26, 2008 9:37 AM | Link to this

For “Exhibit A” of what I mean when I talk about our national inability to connect the dots or follow a simple logic flow, review the post by “Bud Weiser.” He rails against the greedy manipulations of Wall Street - and blasts … “the Token One?” “The Democrats?” Wake up, dipstick. The shiny, winged-tip boot on your throat belongs to a corporation-worshiping Republican power structure. Have you paid no attention to the market policies they’ve put in place the last 28 years - the no-rules, no-regs culture they demand? If you’re being strangled or raped by someone, at least get a good look at their face. This is what I’m talking about.

By N-GA

September 26, 2008 9:40 AM | Link to this

The bailout is complete B.S. All the proposals will be spun to make it sound like it will benefit the consumers (or save their jobs).

Let me repeat it one more time. All the proposals are B.S. The Democrats are afraid to look like they aren’t doing anything, while the Republicans are trying to slip in unwarranted tax changes that they have been trying to implement for decades and figuring out ways to profit from the meltdown.

The only thing that really MUST be done is to make sure that insured deposits are safe. Other than that, let the chips fall where they may. People keep saying that it could cause the world to lose confidence in the US financial system. Well here is the news folks, they already have.

Right now the “world” wants the US Congress to support the Mortgage-Backed Securities that these international banks and retirement funds have purchased. Oops…stupid investment. You are going to have to EAT IT! Maybe next time you will pay more attention to the underlying value of those securities.

This debacle is already a “tax break” for the corporations that invested in these securities. When they sell them, they will realize a loss that will offset gains in other investments.

People, this bailout is not for the average American voter. It is for big business and big businessmen.

On a personal note, I got an email from a friend who is a major player in financial investments. He was asking me how we could “broker” some of the funds that would be made available in the bailout. It’s kinda like the S&L bailout when people with some bucks picked up failed S&L assets at firesale prices while the now-defunct FSLIC ate the losses (that would be the American taxpayer for the most part - to the tune of $124 billion).

By Bosch

September 26, 2008 9:42 AM | Link to this

ByteMe,

Yeah, if only.

I have a question, since the root of the meltdown is the mortgage “issues” and the decreased values in homes. Is the government betting that pumping up the system with cash will raise those values? If so, that’s really retarded.

By RW-(the original)

September 26, 2008 9:46 AM | Link to this

ByteMe,

Did that story mention whether the Japanese government had gotten their banks into the condition in the first place the way our government did to our banks?

By TW

September 26, 2008 9:59 AM | Link to this

JAY - does the front of this rag really read ‘Don’t Blame GOP’ or has the paper been hacked? By Rupert Murdock?

Or was it Panderin’ John McCain?

By ByteMe

September 26, 2008 10:03 AM | Link to this

Bosch, the problem is related to the decreased home values, but it’s really how those decreased home values relate to the reserve rate of capital that these banking companies need to maintain on hand. Regulated banks need to have so much cash on hand; if their loan values fall, the difference between what they loaned and their value needs to be made up in “loan loss reserves” (cash). The normal assumption is that 2% of all loans will be bad ones; the problem is that the number is now approaching 4.5% and likely to go to 6-8%, so all the banks participating in this disaster need to raise money quickly.

And then compound the problem with unregulated derivatives based on those mortgages that many of these banks held as investments. As the mortgages have fallen in value, so have the derivatives based on those mortgages, usually falling MORE than the actual mortgage losses would require, just because those derivatives are not transparent enough and trust is missing from the system now.

That’s the issue in a nutshell. What the government is hoping is that if they buy these bad mortgages from the banks for a discount (but not too large of a discount) that the banks will get the cash they need to survive, the homeowners won’t get foreclosed so quickly, and it’ll buy time for the credit market to get restructured.

The problem with that line of thinking is that no one knows how many of these mortgages are bad ones (my guess is $1.4 trillion). And the ideologues on both sides of the aisle are more interested in their agenda than in solving the underlying problems.

By TW

September 26, 2008 10:06 AM | Link to this

And why did the House GOP wait until the eleventh hour to voice this alternate plan? Could it have been they wanted McSame to show up and ‘save the day?’ Only they were blinded by their arrogance in thinking that everyone else thought it was at an impass as well?

Imagine that, Egotistical Republicans screwing up the country.

Wait! Just tell them the $700B is for the Iraqis. They love Iraqis…it’s their neighbor here at home they can’t stand.

God I miss the real Republicans.

By RW-(the original)

September 26, 2008 10:07 AM | Link to this

Question for some of you deep thinking Obama supporters that bought his line of BS about sticking with the debate because you should be able to multi task.

Mr. “Call me if you need my help” is leaving Washington at 11:00AM to fly to the debate site. Now for the question. When you have your own private jet what’s the flying time from Washington DC to Oxford Mississippi?

By ByteMe

September 26, 2008 10:09 AM | Link to this

RW: Remember when we were freaking in the ‘80’s about the Japanese buying up large chunks of NYC real estate (at wildly inflated values)?

And I’m not sure I could blame our government for doing anything but looking the other way while the greedy people worked hard at inventing new ways to screw up. Oh, and Greenspan’s 1% folly, but that’s another topic. Oh, and forcing the banks to mark-to-market securities that they can’t sell in a non-functioning credit market and then recapitalizing to this fake number. Ok, there’s room for many to share in this blame game.

A link for the article I read: http://www.investorsinsight.com/blogs/johnmauldinsoutsidethebox/archive/2008/09/22/observations-on-a-crisis.aspx

By Taxpayer

September 26, 2008 10:09 AM | Link to this

I’m sorry Jay but I just cannot get that stupid Republican proposal out of my head. How could someone come up with “cutting taxes” as a part of the solution to this problem. If they are going to propose cutting taxes, then they better put something on the table other than that idiotic line about how Reaganomics proved that if we keep on cutting taxes then we’ll keep on increasing tax revenues. Even Bush knows that is a lie because he has his tax cuts expiring in 2011 and the deficit decreasing after that point. And, this absurd crap about an insurance policy to cover the purchasers of these “assets”. Under what conditions will this insurance pay off and when? Will it pay off if the “assets” are actually worth less than what is paid for them regardless of what is paid for them such as the original purchase price. How will the insurance premiums differ from what AIG and others currently charge to cover these assets? This whole thing is nothing more than more of the same pathetic Republican party pandering. Just like the Drill, Drill, Drill crap. Just imagine what will happen years down the road with the Republican plan of more drilling and more refineries in hurricane alley. We’ll just have bigger, longer lasting gas shortages with higher prices. Further, why weren’t the Republicans pandering this issue during the last election when gas prices were climbing. Were they just too stupid to recognize the need to do something earlier than now.

By AmVet

September 26, 2008 10:10 AM | Link to this

Poor outdated, out manned neo-cons.

Just when the bungled, deadly occupation settles down for a while, our smoke and mirrors economy based on corporate welfare and socialism, tanks.

Pick a topic - CO2, corruption, cowardice.

They are forever identified with their own suborn and self-serving ignorance and stupidity.

If anybody deserves to get humiliated for a second straight election, it is them.

And you can almost take it to the (failing) bank…

By getalife

September 26, 2008 10:13 AM | Link to this

Today’s market losses are due to McCain.

By Bosch

September 26, 2008 10:13 AM | Link to this

ByteMe,

Thanks.

By Davo

September 26, 2008 10:13 AM | Link to this

N-Ga right on man.

I don’t care what stopped those ‘meetings’ but thank God there is no ‘agreement’ on how best to loot our future as a free nation.

I really don’t think people realize that the danger here isn’t just the economy, it’s the total disregard for the Constitution and the will of the People. When an overwhelming number of people are against funding a bailout and their will is ignored without debate then we have truly moved from a market based to a planned economy. Our ‘leaders’ seem to no longer represent us, or they think that by representing the Federal Reserves whims they best serve thier voters.

Let the accounting begin today…let Wallstreet fail. The sooner it’s done the better. If we fund this bailout than all we will see is more. The market will survive and be healthier for it. If we drag this out we risk loosing everything.

By ByteMe

September 26, 2008 10:15 AM | Link to this

RW: the blog ate my link. Let me try again:

Observations on a Crisis

By RW-(the original)

September 26, 2008 10:21 AM | Link to this

ByteMe @ 10:15

Thanks for the link I’ll go read it now.

ByteMe @ 10:09

No need for the vein popping rage, I only asked a simple question about the content of your article.

By Truth

September 26, 2008 10:24 AM | Link to this

Taxpayer…. I am in no way an economist, but personally I believe that raising the taxes would probably hurt the economy even more… Possibly totally destroy what little is left. And just so you know, I think these idiot banks shouldnt get the bailout because it just gonna enable them to pull the same stunts in another 20 years. They made their bed…

By AJC/DNC Management

September 26, 2008 10:30 AM | Link to this

Gaze upon the real “bail out,” the next big economic boom times for America, where the billions upon billions of dollars of wealth will stop being transferred to foreign countries, where that money will soon reside in the coffers of the United States free markets and the Treasury and which will create hundreds of thousands of new jobs, if you need proof of what I say, just listen to the pinkkkos whine about it:

Nobody should applaud the surrender by congressional Democrats this week on offshore drilling. The Democratic-controlled House voted Wednesday to toss aside a 26-year ban on drilling off the East and West coasts. Most of those federal waters have been off-limits to oil and gas exploration since 1982. But a spending bill the House approved this week removed the moratorium, freeing the Bush administration to negotiate with oil companies over leases off the Atlantic and Pacific coasts.-TampaBay.com

Drill, baby, drill.

By AmVet

September 26, 2008 10:35 AM | Link to this

How is it that these so-called fiscal conservatives are so liberal?

Like the libs themselves on social issues, they refuse to hold those who plundered away our money culpable.

Not only should the robber barons and their proxies go to jail, they should pay for the “bailout”.

But that would require some actual personal responsibility these phony non-conservative hypocrits so enjoy blathering about…

By BS Aplenty

September 26, 2008 10:35 AM | Link to this

Why Barack Obama Should Not be President

Barack Obama campaigns on a “change” platform and promises a new bi-partisanship in dealing with Congress and its often conflicting and diverse voices. Certainly, a candidate who aspires to such challenges would have a record reflecting similar accomplishments. One might even expect he has some higher philosophy that has shaped and guided such an outlook.

But, then again, maybe Barack Obama isn’t what he appears to be.

Apart from his speech-making on change, hope and brotherhood, the reality of Barack Obama appears to be less than “brotherly.” One who, like his mentor Wright, will say what his congregation pays to hear. His actions, however, point to an extremist whose genuine philosophical viewpoint is reflected in one of the doctrinal texts of the Trinity United Church of Christ, James H. Cone’s A Black Theology of Liberation:

What does sin mean for blacks? Again, we must be reminded that sin is a community concept, and this means that only blacks can talk about their sin. [White] Oppressors are not only rendered incapable of knowing their own condition, they cannot speak about or for the [black] oppressed. This means that whites are not permitted to speak about what blacks have done to contribute to their condition. They cannot call blacks Uncle Toms; only members of the black community can do that. For whites, to do so is not merely insensitivity, it is blasphemy!

Whites cannot know us; they do not even know themselves. If we could just get “concerned” whites to recognize this fact, then we blacks could get about the business of cleaning up this society and destroying the filthy manifestations of whiteness in it. [108]

This is the doctrine Barack Obama taught his children.

One comes to understand that when Obama talks about a new bi-partisanship with the diverse political components of America, he does not, as Cone puts it, think them capable of representing him or the black community. Apparently, though, Obama thinks himself more than capable of representing the rest of America.

It’s a campaign only a used-car salesman could love.

By getalife

September 26, 2008 10:39 AM | Link to this

“McCain Camp insiders say Palin “clueless” Capitol Hill sources are telling me that senior McCain people are more than concerned about Palin. The campaign has held a mock debate and a mock press conference; both are being described as “disastrous.” One senior McCain aide was quoted as saying, “What are we going to do?” The McCain people want to move this first debate to some later, undetermined date, possibly never. People on the inside are saying the Alaska Governor is “clueless.”

Told ya she is a moron. Did McCain even talk to her to find out she is a moron?

The markets are fine and the dems ahould go home.

By ByteMe

September 26, 2008 10:40 AM | Link to this

What vein-popping rage?? You read into it more than I wrote or felt. I feel more resignation about this whole thing than anything. No matter what gets decided to be implmented by this government, the average person just isn’t going to be able to understand what happened, why it happened, or what the best answer should have been.

I have no hope that 535 talking suit monkeys can figure it out either.

When the people can’t figure it out, expect them to be misled by those who want to take advantage of the situation for their own gain.

By RW-(the original)

September 26, 2008 10:42 AM | Link to this

ByteMe,

Again thanks for the article. Observation # 3 seems to say that the US can’t take a similar course of action to Japan, but there is no observation into the root cause of the problems. That makes observation # 3 somewhat meaningless, but it was an interesting read.

By ByteMe

September 26, 2008 10:44 AM | Link to this

getalife: she could be sandbagging it.

On the other hand, I really really want to see the VP debate now just to see how much both of them mangle. Better than expected is that the moderators don’t say “HUH?” more than 5 times.

By ByteMe

September 26, 2008 10:47 AM | Link to this

If I remember right from back then, the Japanese had easy money interest rates for a long period and they were spending on anything that they could buy… including paying inflated prices for American real estate. Not sure what other government conditions were in place to let them skirt the rules or whatever.

I think the first graphs were scariest: that we still have a way to go before housing prices get back to “affordable”. Of course, that’s also an opportunity in another 6-9 months for those of us who have been hording cash.

By RealityKing

September 26, 2008 10:50 AM | Link to this

So now Republicans are standing in the way of the Democrat/Bush team?? Who would have thunk it..

But wait, if Republicans don’t have enough votes to block this…, whats the problem??

By Bud Wiser

September 26, 2008 10:50 AM | Link to this

The Democrats want to tag on student loans, defaulted credit card payments, and other goodies to theplan.

You idiots that support them are so blinded by your tight ideology that it renders you incapable of rational thought.

We should bring back the gallows, and I could list a few prominent Democrat, Republican, and Wall Street names that should swing first, but I do not want to be investigated as a terrorist threat.

Hang ‘em all in Washington and let God sort them out.

By getalife

September 26, 2008 10:50 AM | Link to this

ByteMe,

She will be back in Alaska soon. I doubt McCain will want to be embarrassed anymore.

She is not sandbagging,she is a moron.

By ByteMe

September 26, 2008 10:59 AM | Link to this

RealityKing: the problem is that there’s an election in 40 days and the Democrats don’t want to be left holding the bag on a bailout no one really understands. Like with the “we gotta go into Iraq NOW” message from before, they are being told “crisis, crisis, crisis!” by the administration’s gurus on the topic and trying to do the right thing, but not getting any help to make it easier to sell it to the people.

Basically, the number I heard from the D analysts was that without at least 100 Republicans on board, the Ds were not going to jump off the cliff.

So… doing what the administration wants is going to get you slapped and NOT doing it might get you slapped for doing nothing. Given the choice, doing nothing might be cheaper and easier to sell… for now. After the election, the lame ducks can take care of it on their way out the door in December. I’m pretty sure there’s only one other mega bank in serious trouble just now, so it might be the wisest political course.

Just my take.

By @@

September 26, 2008 11:00 AM | Link to this

I understand their distaste for the Bush plan. It sucks. Hundreds of billions of dollars to rescue Wall Street? It sucks, and nobody likes it. But we are truly in a crisis, and I happen to think an approach put together by people such as Fed Chairman Ben Bernanke has a better chance of succeeding than a plan created to satisfy the small minds of the ideologically frozen Republican core, a group whose entire economic understanding consists of cutting taxes and hating government.

Damn jay! You’ve contracted Bill O’Reilly hysteria. I watched him in an exchange with John Stossel (reformed liberal). After Bill points out that those in government, including Bernanke and Paulson, did nothing to stop this catastrophe in a timely fashion…..failed to warn the taxpayers, he then turns around and says WE MUST follow their lead without any guarantees it will succeed? As Stossel would say………”Give me a break.”

That might be “sitting right” on your head, but it doesn’t sit right on mine.

Tax cuts. More specifically, tax cuts for dividends and capital gains.

Sounds right to me. A lot of good deals floating on the market. Buy low, sell high. It’s the American way for those with CONFIDENCE.

By ByteMe

September 26, 2008 11:02 AM | Link to this

getalife: I don’t think McCain will toss her overboard even if she’s a complete moron. He’s got “honor” stamped on his DNA and doing that would not be honorable. If he had more time, maybe; but not with 40 days to go.

However, I do think he’s going to figure out a way to invent a crisis to get the watered-down VP debate cancelled.

By Dusty

September 26, 2008 11:09 AM | Link to this

Well, I see all the old big time loyalists Dems are here preaching and joking about the crisis, even hating tax cuts, hating Bush, and loving Bookman’s propaganda. (He has given up journalism for feudalism and faulty fact finding.)

Too bad there is no calm presence in Democratic leagues. Bush came on TV and thanked Congress for its non-partisan behavior and efforts. He warned Americans of what he feared in this crisis. As usual, he was concerned for Americans, as he always is.

So the lunkheads here are laughing their stupid heads off and calling the President names and anyone working on the current crisis. Sometimes I wonder if the homes of these vipers are pits of inconsideration and name calling. They show no other qualities.

And of course, they do not like McCain because he is an honest straightforward man. It all comes through here. The boneheads battle with prattle and run from the real thing, working to keep America safe and sound.

This is truly Bookman’s blog of underlying bigotry and disloyalty to the great standards that were once All-American.

By Taxpayer

September 26, 2008 11:10 AM | Link to this

So, let’s step through an overview of the Republican solution. We start by cutting taxes on dividends and capital gains. Now, is this an extension of the Bush cuts that are set to expire or is this something new and improved. Before all this economic mess started, the Bush cuts were to expire in 2011 and after those revenues started coming back then the deficit would start decreasing. So, one aspect of the Republican solution is that the deficit will continue to increase as a result of this yet undefined tax cut unless it is offset somehow. The next aspect of the Republican solution is to let the chips fall where they may regarding wall street failures and job losses due to the ever-declining value of these mortgage-related assets. The net result of these failures will be fewer people with big salaries paying taxes. But, to help offset that, the Republicans are proposing selling insurance to anyone holding these assets just like AIG does, I guess. So, the government will become an insurer or insurance company backer (assuming we leave capitalism to work as freely as possible) which requires unknown capital outlays (since insurance companies are required to keep a certain amount of capital) in the form of money from the taxpayer in exchange for some unknown (but presumably, affordable) insurance premiums and ultimate payouts on insurance claims for unknown amounts to all these insured entities holding these “assets” that are no longer worth what they were worth (based on their particular insurance policy and what it claims to cover) if they were even worth anything to begin with since no one knows what they’re worth without first selling them in a free market which cannot be done because no one even wants to bid on much of the stuff even if they did have the capital which they don’t. That money will then have to be borrowed from someone in the name of the “we’re good for it” taxpayer and added to the $10+ trillions that we are still on the hook for, plus interest. All the while, we still have huge outlays for the never-ending wars and other items for the defense budget, Social Security, Medicare, Medicaid, the multitudes of non-military government employees, and continuing transfer of jobs overseas. So, precisely how does all this work out. Do government expenditures stay on their current growth track while taxes continue on their current decline with foreign countries continuing to loan us the money? Is that the Republican plan — more of the same except on steroids! Someone show me the math to back up this plan. Any Republicans out there with the economics and/or mathematics background to show us how this will work out. Anyone.

By Dusty

September 26, 2008 11:19 AM | Link to this

Getal, you ol’ Cajun coot,

Don’t you have anything else to do besides insulting Palin? She has done quite well and will continue to do so, even with you LIB canines snapping at her heels. McCain has shown his good sense in choosing her.

Maybe it gives you ol coots something to do but it is tacky as everything to act like you can’t stand anyone young, smart, attractive AND FEMALE.

Give it up. Smoke a cigar. Wrestle an alligator. BUT get a NEW HOBBY..

By Southern ATL

September 26, 2008 11:19 AM | Link to this

FRESH NEWS…JUST IN…

THERE IS NOW A CALL ASKING PALIN TO WITHDRAW

http://blogs.abcnews.com/legalities/2008/09/palin-withdraw.html

Palin: Withdraw “for your country” September 26, 2008 8:25 AM Syndicated conservative columnist Kathleen Parker, who once described Sarah Palin’s candidacy as a “bright light,” now is calling on her to withdraw. She is the first prominent conservative to stake out that position—bringing to mind Bill Kristol’s early pronouncement in 2005 that he was “disappointed, depressed and demoralized” over the Harriet Miers nomination. In a column titled “The Palin Problem,” Parker says Palin’s recent “painful” interviews with Gibson, Hannity and Couric show she is “clearly out of her league” and that “we’d all be guffawing” if she were a man. “No one hates saying that more than I do. Like so many women, I’ve been pulling for Palin, wishing her the best, hoping she will perform brilliantly,” Parker writes. “I’ve also noticed that I watch her interviews with the held breath of an anxious parent, my finger poised over the mute button in case it gets too painful. Unfortunately, it often does. My cringe reflex is exhausted.” Palin, she writes, filibusters and fills the space with deadwood. “Cut the verbiage and there’s not much content there,” Parker concludes. And then she provides an example—an exchange with Sean Hannity. Bottom line: “Only Palin can save McCain, her party and the country she loves. She can bow out for personal reasons, perhaps because she wants to spend more time with her newborn. No one would criticize a mother who puts her family first,” Parker writes. “Do it for your country.”

By GOPs got to go

September 26, 2008 11:20 AM | Link to this

Would a woman please volunteer to give Management something to drill?

Although it may be repulsive, he might shut up for a minute.

By professional skeptic

September 26, 2008 11:21 AM | Link to this

Further tax cuts = more borrowing from foreign countries to pay for the wants and needs of Americans today, and leaving the bill on the table for our kids and grandkids to pay tomorrow.

It all amounts to another sense of entitlement. I want to live and prosper in the land of freedom and opportunity and bleed it bone dry to suit my needs today. But I don’t want to pay for any of it. I want all the benefits of this great nation at none of the cost. By the time the bill comes due I’ll be long gone, so why should I care?

It’s this disgusting sense of entitlement greed that will doom our nation if we don’t cure ourselves of it.

By RW-(the original)

September 26, 2008 11:23 AM | Link to this

There is a very interesting theme working through this blog starting with the article itself.

It seems to be that this is an all Republican bailout plan and it’s bad.

Part two is that Republicans are blocking the bailout bill and that’s bad.

Do you libs ever think these things through?

It sounds like the two track talking points the Democrats are using this morning. Talking point one is that McCain came to town and did nothing, while simultaneously using talking point two to say McCain came to town and screwed everything up.

By "The Corporal"

September 26, 2008 11:23 AM | Link to this

Heard this yesterday:

Crisis is the friend of government as it helps it grow bigger and more powerful.

“Frog in the kettle” as we give up more and more of our freedom.

By professional skeptic

September 26, 2008 11:24 AM | Link to this

@ GOPs got to go, 11:21

L O L

By AJC/DNC Management

September 26, 2008 11:26 AM | Link to this

I wouldn’t knoe wut to do with a woman.

By Uncanny Valley

September 26, 2008 11:26 AM | Link to this

Palin/McCain 08: It’s a good thing that politics makes strange bedfellows. That’s how they’ll find the sleeper cells.

By Dr. R

September 26, 2008 11:27 AM | Link to this

I dunno, Jay, I’m still on the fence. On the one hand, we can’t let the markets go belly-up or it will hurt us all. Those concerned about bailing out Wall Street fat cats need to realize how their best interests are also ours, like it or not. On the other hand, there has to be a way to wed some accountability into the bailout so it doesn’t reward those bozos for their feckless decisions. I agree House GOP knuckleheads are usually obstructionist for no good reason, but maybe it’s not a bad idea to tap the brakes on this thing just a little and water it down before it becomes law. If the idea is to stimulate Wall Street with a flush of cash, couldn’t the same thing work with tax cuts? Though it does come off as an election year stunt even if it’s valid.

As for McCain, he’s a great American hero, but his campaign is a joke. He doesn’t hold any major positions on a committee that oversees banking or finances (only Commerce, Science and Transportation) and he clearly has no clue what to do about the economy. And his panicky flailing about over the last week or so doesn’t bode well for how he’d handle things in the White House. I like the guy, voted for him the primary, but I’m having serious doubts. And his veep pick, hottie though she may be, isn’t offering me much reassurance. My teenage son knows more about world affairs than she does (though I concede he can’t see Russia from his bedroom window, which is the source of all international wisdom). I might have to hold my nose and vote for Barr after all. Yech.

By Mrs. Godzilla

September 26, 2008 11:27 AM | Link to this

HERE’S A CURIOUS NUMBER

from 2004 so add some more…

The tax cuts have cost about $620 billion over the last four years, including the cost of additional interest payments on the national debt.

HMMMMMM…..

By my dog has flees

September 26, 2008 11:27 AM | Link to this

does obama have a running mate yet?

By RW-(the original)

September 26, 2008 11:29 AM | Link to this

The debate is back on, time for you moonbats to switch from saying McCain chickened out on the debate and start blaming him for chickening out on brokering a bailout deal.

By Sarah

September 26, 2008 11:31 AM | Link to this

If democrats weren’t scared to death of Palin, perhaps they could go 15 seconds without saying her name. Bill Clinton all but endorsed McCain yesterday. He is ga-ga over Palin. She has you democratic pansies suffering from penis envy. I find it entertaing that some of the so called community organizers in elected positions are grilling her over her legal rights to hunt moose but in their own districts their own males hunt down each other and shoot each other in parking lots of low rent apartments daily but that’s okay…..urban warfare. Yummmm gotta love how a fresh baked double standard taste so early in the morning. Dems, you have bigger things to worry about than a moose hunter. Go clean up the mess you’ve made of our economy. More than few democrats should serve prison time for the mess we’re in, just like the Enron people did. Dodd, Obama and Kerry should go to prison!

By Taxpayer

September 26, 2008 11:31 AM | Link to this

McCain did nothing. It’s hard to argue that one given the facts. McCain has done nothing to help. I didn’t see him deliver no plan so that must be true. McCain says hold the presses, I’m comin’ to devote all my time to solving this problem and as soon as he shows up things go south. Sounds like he made things worse. That about covers it unless Palin brought some more lipstick to smear on things.

By Algonquin J. Calhoun

September 26, 2008 11:33 AM | Link to this

The Republinazis robbed the country into bankruptcy and now they don’t want to rescue it unless they get a fresh license to rob. Throw these b******* out!

By David

September 26, 2008 11:35 AM | Link to this

Scared of Palin? LOL Are you out of your mind? She’s a national embarrassment every time she opens her mouth.

By Uncanny Valley

September 26, 2008 11:35 AM | Link to this

Palin/McCain 08: It’s a good thing that politics makes strange bedfellows. That’s how they’ll find the sleeper cells

By getalife

September 26, 2008 11:35 AM | Link to this

McLiar is all over the place on this issue. His final position? I have no idea.

This debate should be fun.

By my dog has flees

September 26, 2008 11:35 AM | Link to this

the dems couldn’t agree on whether to wipe their a$$ backward or forward.

swamp crotch and that’s how they like it.

By RealityKing

September 26, 2008 11:37 AM | Link to this

Meanwhile.., Harry Reid vindicates McCain’s call to suspend partisan campaigning by holding the Senate in session until a resolution is found for this financial crisis. Evidently Obama will now have to defy his own party to go to Mississippi by himself tonight.

Wow! What a leader we have…, in John McCain.

By professional skeptic

September 26, 2008 11:40 AM | Link to this

Dems, you have bigger things to worry about than a moose hunter. Go clean up the mess you’ve made of our economy. More than few democrats should serve prison time for the mess we’re in, just like the Enron people did.

Are the CEOs of these failed investment banks and the predatory lenders who created these “toxic assets” really Democrats? Bless my heart, I would never have guessed.

By Tom

September 26, 2008 11:42 AM | Link to this

This entire sham is just another cheap lie from the imposter-hero McCain. Both he and the GOP are totally lacking in morals, ethics, intellect, courage. Obsessed with “winning at any cost to the nation.” He and they are Americana at its lowest ebb in history. Their filth runneth over, even as they appeal to the true criminal element responsible for the state of the nation. We have endured 36 years of this imposter-hero. Time to open the books on him for the masses to witness truth.

By hotlanta

September 26, 2008 11:44 AM | Link to this

They say you have to be quiet and let the other person keep talking because they will eventually put their foot in their mouth. Well the media has been quiet and Palin has been constantly putting her foot in her mouth. Smart move Obama team for not saying anything about Palin. The more she talks she just gives you guys free airtime.

By hotlanta

September 26, 2008 11:44 AM | Link to this

They say you have to be quiet and let the other person keep talking because they will eventually put their foot in their mouth. Well the media has been quiet and Palin has been constantly putting her foot in her mouth. Smart move Obama team for not saying anything about Palin. The more she talks she just gives you guys free airtime.

By RealityKing

September 26, 2008 11:44 AM | Link to this

Ohhh wait.., now McCain says he will be at the debate.

Hmmm.., Reid comes out and says their staying until a deal is reached and McCain comes out saying he’s going to the debate. One of these guys is trying to save face, I wonder which..

By ByteMe

September 26, 2008 11:46 AM | Link to this

RealityKing: The Senate has been in session quite a bit since last April, yes? Seems McCain hasn’t shown up since April to cast a vote. Not once.

I’m not saying he should be in the Senate voting… that’s between him and the people of Arizona. But bringing it up is just more partisan nonsense, so time to reign in the “us vs. them” mentality and start thinking about what’s really happening without blinders on.

By @@

September 26, 2008 11:47 AM | Link to this

Taxpayer:

McCain listened. OBlahMa turns to Paulson and asks “Do you support this plan?”

I cannot say Duhhhhhhhhh loudly enough. I can, however, deliver it in OBlahMa speak………….

uh……….uh……….uh………uh……….Duhhhhhhhhh!!!!!!!!

By Dr. R

September 26, 2008 11:49 AM | Link to this

I’m no Obama fan, but his wife is more qualified to be veep than the Wasilla Zero. Did you see highlights of the Couric interview? Brutal. And it was no gotcha; Katie was trying to help her, likely out of pity. I fell for the whole Annie Oakley thing, too, and loved her convention speech. But now it’s like I went on a bender and just sobered up. I like the idea of someone outside the belway with frontier cred, a real person with a real life. But I’d also prefer them to have read a book, maybe a newspaper, somehow be more dialed into world affairs. I feel used, had, snookered. Well, I won’t be fooled again. I’ve voted GOP for decades but I’m done with them. And I don’t care for the Dems, either. I’m starting a new party, one without commies or morons. Our first plank: Stupid people must pay higher taxes. Some of you are in trouble.

By mr bill

September 26, 2008 11:50 AM | Link to this

ooooh nooooooo

mc cain is going to show up for the fight?

oooooh nooooooo

By The Snark

September 26, 2008 11:53 AM | Link to this

Can we please elect the smart guy this time? Please?

By ButtHead

September 26, 2008 11:53 AM | Link to this

Hi Pals,

I’m against the $85,000,000,000.00 bailout of AIG.

Instead, I’m in favor of giving $85,000,000,000 to America in a We Deserve It Dividend .

To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend .

Of course, it would NOT be tax free. So let’s assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage – housing crisis solved. Repay college loans – what a great boost to new grads Put away money for college – it’ll be there Save in a bank – create money to loan to entrepreneurs. Buy a new car – create jobs Invest in the market – capital drives growth Pay for your parent’s medical insurance – health care improves Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18 + including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we’re going to re-distribute wealth let’s really do it…instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by one of our candidates for President.

If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!

As for AIG – liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.

Here’s my rationale. We deserve it and AIG doesn’t.

Sure it’s a crazy idea that can “never work.”

But can you imagine the Coast-To-Coast Block Party !

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh…I feel so much better getting that off my chest.

Kindest personal regards,

Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

PS: Feel free to pass this along to your pals as it’s either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!

By Dr. R

September 26, 2008 11:54 AM | Link to this

Side note, Jay: Your whole “Greek wedding” reference up there? Not so much. That may fly with the girlymen who watch chick flicks, but it sailed right over my skin-toned head. Next time pick a movie reference that involves, I dunno, guns or frat parties, and I might get it. Something with “Die-Hard” in the title.

By Buff

September 26, 2008 11:55 AM | Link to this

The only thing lacking in the latest Palin “I’m-a-deeply-commited-Christian”tape are the…snakes. Reckon McCain can supply those easily enough.

By Bosch

September 26, 2008 11:57 AM | Link to this

Sarah,

Scared? Um, no, that’s not the word, it’s more like pity, and embarassed.

And, just for fun, could you please explain in detail what you mean by the Democrats are to blame for this financial mess? That should be very interesting.

By Uncanny Valley

September 26, 2008 11:58 AM | Link to this

Palin/McCain 08: It’s a good thing that politics makes strange bedfellows. That’s how they’ll find the sleeper cells

By Wyld Byll Hyltnyr

September 26, 2008 11:58 AM | Link to this

As much as it pains me - and I never thought I would end up this way because I believe the 4Is (intolerant, ignorant, intractable ideologues) of the hard left are the root cause of America’s problems - I am now going to hold my nose and vote for Obama. The preening and posturing of house Republicans is shameful. Those idiots do not understand that this is not a bailout of CEO’s or Wall Street, rather this is a rescue for creditors and customers and, by extension, Americans and the American way of life. Newt Gingrich wants to toss out mark to market accounting and loan money to the firms holding large mtg portfolios or mtg bonds, guess what, when the same strategy was tried in Japan it took 20 years to begin to recover. While the House conservatives bitterly cling to their cherished “guiding principals” about private enterprise over government intervention, they are too stupid to understand that no private concern will touch a problem so big and so deep. I hold to but one guiding prinicipal; I do not want to live in a country where the financial system has failed and everyone is broke. Had the Paulson Plan been done yesterday, WaMu would not have failed - woohoo. Does anyone really believe that Mike Pence knows more about this, or for that matter cares about America more, than Hank Paulson? The House conservatives are the Pharises of today’s financial world as they are truly blind to reality. So I will vote for Obama, even while every “guiding principal” of my being wishes that I could vote for Gov Palin.

By getalife

September 26, 2008 12:00 PM | Link to this

That old coot Byrd and Reid introduced a 56 billion second economic stimulus package since w’s has failed. Bans oil shale drilling.

Too funny.

By Dr. R

September 26, 2008 12:02 PM | Link to this

Well, there’s the Clinton administration’s push to ease the path for more home ownership. That led banks and lending houses to lower credit standards and give loans to many folks who weren’t able to pay them. And a lot of people took on more house than they could afford because the interest rates were so dadgum low. Bad paper, defaults, big losses. That started the whole thing downhill and the high rollers on Wall Street took it from there. There’s plenty of blame to go around for both parties.

By Bosch

September 26, 2008 12:02 PM | Link to this

Dr. R,

As I’ve said before, it’s like we woke up the next morning, rolled over and saw the Moose Queen without her makeup and realized it was a drunk thing.

LOL!!!

By Midori

September 26, 2008 12:03 PM | Link to this

re the 11:47.

that’s what all of your posts sound like.

By Uncanny Valley

September 26, 2008 12:04 PM | Link to this

Obama 08: America takes over.

By Bosch

September 26, 2008 12:05 PM | Link to this

Buff,

Or maybe she’ll start speaking in tongues at her debate. Awesome!

By RW-(the original)

September 26, 2008 12:07 PM | Link to this

ButtHead,

I believe the math in your cut and paste is off a bit. Try actually dividing 85 billion by 200 million and I believe you’ll be down to around $425.00, not $425,000.00.

By AJC/DNC Management

September 26, 2008 12:07 PM | Link to this

Jay: 11:26., the liberals are showing their thumb sucking immaturity, again.

~~~~~

Well, it looks like you whackjob liberals are going to get what you wished for, Jaws is back in thee water.

Duh duh duh duh duh duh duh duh.

Swim barry, swim!

By Dusty

September 26, 2008 12:08 PM | Link to this

Southern Atlanta 11:19

You can call for the Braves to win.

You can hope to win the lottery.

You can wish to own an oil well.

You have a better chance at all of the above than trying your best to get Sarah Palin out of the picture. She’s a good fit where she is and America loves her.

She will bring in more votes than Babblin Biden and his lobbyist son. Count on it while your side is losing to McCain.

By MorningStar

September 26, 2008 12:10 PM | Link to this

By getalife September 26, 2008 11:35 AM | Link to this McLiar is all over the place on this issue. His final position? I have no idea. This debate should be fun

What debate? Even if he decides to show there will be no debate. Just a regurgitation of ‘fixed’ talking points. What I’d like to see is a real debate, with neither party knowing what to expect? Now wouldn’t that be a hoot and a holler?

Better yet, a debate between Palin and Biden…ooooohhhhhh…..

Methinks another tax cut for the rich would be appropriate at this time, and don’t forget to go ahead with privatizing Social Security.

Oh what the heck? Who needs regs? Everything will just naturally work out for the best now want it?

By ByteMe

September 26, 2008 12:14 PM | Link to this

I win. At 8:55, I said:

Like any good politician, McCain will declare victory over the problem and show up, regardless of whether he really had a victory. That’s for the spinners to dish out and the always-gullible media to swallow. “Campaign suspension” indeed! The ads never really stopped, neither did the field offices. But the media swallowed it whole.

McCain ally Sen. Lindsey Graham said this:

“What’s more important than anything that when we go to Mississippi tonight, both candidates can say that the Congress is working, back in business, that we have an outline or proposal that will protect the taxpayer and save the country from financial Pearl Harbor, as Warren Buffet called it. We are not there yet, but we will get there.”

Yay! We got Congress to go back to work on the problem compared to what they were doing before McCain showed up, which was…. uh… working on the problem! Victory is ours!

By Dusty

September 26, 2008 12:16 PM | Link to this

bosch,12:02

Do you ever do anything besides nearly fall out of bed over Bush, blow coke through your nose over Dem jokes, and try to do a funny drunk thing over Palin?

And you want to imply that Sarh Palin is ignorant? You forgot that she has been a mayor and the governor of Alaska?

I suggest you hold your jokes until you have at least been President of the PTA. I seriously doubt that you could even reach that level.

By Uncanny Valley

September 26, 2008 12:18 PM | Link to this

That goes to show you what a retard RW is because he COULD follow along with butthead’s squat-foam runnoff……ew.

Rinse, RW. (and then repeat)

and shut TF UP!

lol jk

By getalife

September 26, 2008 12:18 PM | Link to this

Buff is the stuff in da house.

How bout them Tigers?

USC upset last night.

Are they really going to cancel the dawg-tide game?

By white men can't jump

September 26, 2008 12:19 PM | Link to this

watch obama dunk on the old geezer

By GMAN

September 26, 2008 12:21 PM | Link to this

Truth, you say… “I know you dont like facts, but the fact is that McCain asked for MORE debates and Obama refused… FACT!”

You know that Mr. Magoo didn’t want debates. He “said” that he wanted 10 townhall meetings, which would have resulted in 10 townhall meetings and 3 presidential debates. That’s a lot of “meetings” and as we see, even Mr. Magoo didn’t want that because he’s trying to get out of the first one. He was blowing smoke! It was merely an attempt to manipulate and Obama wasn’t buying and it appears that neither was most of America. Yes, Johnny may have been a 60’s hero but he’s just a “New Millennium Coward”!

Bush/McCain - gambling with your children’s futures!

By Bosch

September 26, 2008 12:25 PM | Link to this

Dusty,

Yes, I do alot of other things other than what you mentioned.

And I’m not implying Palin is ignorant at all — I’ll flat out WRITE it. No implications at all.

Palin is an ignorant moose munching moron!

By Henry

September 26, 2008 12:29 PM | Link to this

If this bailout is such a big freekin deal, let the Democrats just pass the damn thing. They do have a majority. They won’t because they don’t have the stones to stand up and take the shot for fear it won’t work and they will get blamed. When will people wake up and realize that Democrats are a bunch of losers just like Republicans. The problem is not the party, it’s professional politicians enriching themselves at our expense.

By Danny the red

September 26, 2008 12:34 PM | Link to this

Hey Pubbies, what do you think about those “credit default swaps” that are out there to the tune of 40+ trillion?

What do you think Management? What do you think’s gonna happen “Elva”?

By bosch kills his own food

September 26, 2008 12:36 PM | Link to this

what’s for lunch?

By hillbilly ragger

September 26, 2008 12:37 PM | Link to this

Butthead @ 11.53, um… unless you’re Jesus dolin’ out the loaves and fishes along with the cash, 85 billion into 200 million doesn’t leave 425 grand.

By AL

September 26, 2008 12:39 PM | Link to this

Listen people we all want more and higher taxes. Don’t we. We want our country to go into financial debt that will take forever to dig out of. Don’t we? We want to bail out foreign banks. We want to raise taxes on the businesses in our country that employ our citizens. We want all the people in the U.S. to be dependant on government in every way. Don’t we? We want our children to be forced to go to failing government schools and not be allowed to choose. Don’t we? We want hard working tax paying families to foot the bill for all the illegals and free-loaders pouring into our country daily. Don’t we? We love people in congress in control of our money because they know what’s best for us. Don’t they? Where do I send my money? I don’t think I’ve given enough. I’m sure half the people on this blog and the Weasel will join me.

By lrd

September 26, 2008 12:43 PM | Link to this

Better Greek Wedding reference would be Paulson handing back the Bunt Cake to Congress saying ” I fixed it”.

Not only important to watch what congress does, but what is and how China reacts. Do not forget who is financing our debt.

Maybe the American Public as a whole will realize now you cannot live on debt alone, that eventually the Repo man will be knocking on your door

By frank

September 26, 2008 12:43 PM | Link to this

want to see a stuttering blathering idiot? turn on your tv at 9PM.

By @@

September 26, 2008 12:44 PM | Link to this

By Midori

re the 11:47.

that’s what all of your posts sound like.

Out of the wild blue yonder comes our Midori to what………………….

hump for your weakling, OBlahMa? The young stud with manboobs?

Don’t force me to retrieve some of your posts. My job is to help the disabled, not humiliate them.

By hillbilly ragger

September 26, 2008 12:45 PM | Link to this

Bosch, when you say—“could you please explain in detail what you mean by the Democrats are to blame for this financial mess? That should be very interesting. “

…come on. You could write one of those screeds yourself, right?

YOU LIBERASL FOISTED THIS ON US REALMERKINS BY PASSING THE COMMUNIST REINVESTMENT ACT IN 1977 AND ADMINISTRING IT COMPETANTALLY!!!1! EVERONE NOES THAT WAS A PERSIAN PILL DSIGNED TO GO OFFIN 2008. Y DO U HATE MERKA?

By Midori

September 26, 2008 12:47 PM | Link to this

Frank,

I don’t have to wait until 9 p.m. to see McCain talk…..

By Danny the red

September 26, 2008 12:47 PM | Link to this

Capping executive pay is piffle. What we need are a few exemplary hangings. Public hangings. On television. Pick a few failed investment firms, lead their CEOs in chains through the canyons of Manhattan and give the mob satisfaction. Better still, precede the auto-da-fe — fire is highly telegenic — with 24-hour reality-TV coverage of their recantations, lamentations and final visits with the soon-to-be widowed. The ratings would dwarf “American Idol,” and the ad revenue alone would make the perfect down payment on the $700 billion. Krauthammer, WP 9/26/08

I think this forum is a pretty good place to sample mob opinion. So whadd’ya think. Would this work?

By Dusty

September 26, 2008 12:47 PM | Link to this

bosch 12:25

Send me another post when you get to be PTA president. Or city mayor. Or Governor of a state.

In the meantime, blow some coke through your nose for fun. That’s about your speed.

By Midori

September 26, 2008 12:50 PM | Link to this

LEAKEDMcCain’s notes for tonight’s debate

By fearless fosdik

September 26, 2008 12:50 PM | Link to this

First Palin, Then Campaign Suspension. What Now?

“Slate” predicts McCain’s next 10 Hail Mary stunts.

  • Returns to Vietnam and jails himself.
  • Offers the post of “vice vice president” to Warren Buffett.
  • Challenges Obama to suspend campaign so they both can go and personally drill for oil offshore.
  • Learns to use computer.
  • Does bombing run over Taliban-controlled tribal areas of Pakistan.
  • Offers to forgo salary, sell one house.
  • Sex-change operation.
  • Suspends campaign until Nov. 4, offers to start being president right now.
  • Sells Alaska to Russia for $700 billion.
  • Pledges to serve only one term. OK, half a term.
  • By mm

    September 26, 2008 12:52 PM | Link to this

    The debate is on. Beginning of the end of the McCain campaign.

    Anybody else see the similarity between Sarah Palin and Dusty?

    By dirty harry

    September 26, 2008 12:58 PM | Link to this

    By Dusty

    September 26, 2008 12:47 PM

    DUSTY, you forgot to mention what an honorable, honest, war hero, brave, religious, family man McCain is…

    One who has sacrificed, and has only the good of country in his little bag of tricks!

    Good Grief girl … how could you forget these little talking points in your usual nonsense?

    Shame on you!

    By Midori

    September 26, 2008 12:59 PM | Link to this

    mm,

    Getalife made similar comparisons last night.

    :)

    By Danny the red

    September 26, 2008 1:01 PM | Link to this

    Let’s play….. Name the person behind the quote:

    I have craved distinction in my life…I have wanted renown and influence for their own sake. That is, of course, the great temptation of public life. … I have never been able to conquer it permanently, but I have tried…”

    By hillbilly ragger

    September 26, 2008 1:02 PM | Link to this

    Wow. I missed this before, from Wyld Byll Hyltnyr @ 11:58 As much as it pains me - and I never thought I would end up this way because I believe the 4Is (intolerant, ignorant, intractable ideologues) of the hard left are the root cause of America’s problems - I am now going to hold my nose and vote for Obama.

    Welcome.

    He’ll work hard for you, and for all of America, including the folks who didn’t vote for him.

    You won’t regret this. Again, welcome aboard.

    By professional skeptic

    September 26, 2008 1:03 PM | Link to this

    That’s a good point, AL @ 12:39… Man, our children really are screwed! We send them to failing schools AND we’re sticking them with the bill for all of our rapacious overspending today!

    Won’t someone please think of the children??

    By Bosch

    September 26, 2008 1:04 PM | Link to this

    Dusty dear,

    I don’t send you posts, I think you have things mixed up —- you respond to mine.

    Stop responding to my posts, and I PROMISE never to acknowledge you again.

    The only time I read your posts are when you address me by name. A few months ago you promised to ignore me, why can’t you keep your promise? Typical wingnut.

    By Uncanny Valley

    September 26, 2008 1:05 PM | Link to this

    How about the treasury secretary kneeling before Pelosi pleading for the bailout of his friends at the stock firm. Goldman Sachs. He was prez of Goldman Sachs, you know. This bailout is his behind too.

    We have let the pirates who buried all that treasure be the ones who dig it up?

    What could go wrong? Foreign banks R people 2.

    Bail on the Bailout.

    Someone use that Windex and clean up Wooten’s Apology Window. Make it disappear.

    How one gag could sustain a stinking movie like that really irks me. I should write a script, it would be an oscar meyer winner. I wish I were an oscar meyer winner.

    By Sarah

    September 26, 2008 1:09 PM | Link to this

    Gosh, it looks like even with all of Hollywood ganging up on the winning McCain/Palin ticket and all the low ratings, seldom watched news stations such as CBC, NBC and ABC..and before you idiots start attacking Fox, do some research for a change…Fox has higher ratings than all three of those COMBINED, still Obama can’t and won’t seal the deal. Ask yourself what if this were a level playing field, what would the poll numbers reflect? What if Obama were given the same treatment that Clinton received, where would he be today? Why do you all want a candidate that can only win with a headstart and the least qualified of all that were taken serious as a candidate. How did Clinton go from being the first black president to being a racist? I meaan..come on, what all does Obama need to win? If a person can’t win on their own without all the special treatment this guy required having, you really want them for president? Why? Obama is a fashion statement for people who think knowing Paris Hilton is hip; he’s like being a communist in the 50’s….chic and hip with no substance, no backbone, no experience, no integrity, no business being anything other than a Chicago community organizer rounding up food for foodbanks to feed people who generation after generation make horrible lifestyle choices and given a choice in life, always picks the easy and lazy road where there’s no accountability at the end of the line. Obama is free government cheese and peanutbutter and a free check on the third of the month. I don’t need Obama; I can make it on my own, keep the cheese…please.

    By ByteMe

    September 26, 2008 1:19 PM | Link to this

    Sarah: please please please step away from the keyboard and go take the pills your doctor prescribed for you. Thank you.

    By RealRep

    September 26, 2008 1:22 PM | Link to this

    Told you bums it should have been Mike.

    No sweat. He holds no animosity. Just a little discouraged that the Dems have the real Christian in this one.

    Huckabee 2012

    By RW-(the original)

    September 26, 2008 1:25 PM | Link to this

    Gorelick claims she never knew she got preferential treatment. For that matter, Barack Obama’s campaign adviser Jim Johnson says the same thing. However, both got loans a full point lower than market value at the time, after going outside the normal channels to get their loans handled. Are we to believe that the CEO of Fannie Mae and a member of its board were completely ignorant of the going rate for residential loans at the time of their application? What business did they think they were in, anyway? The rate for residential loans is the center of Fannie Mae’s business.

    The notion that they were ignorant of their preferential treatment insults both their intelligence and ours. I suspect that a federal grand jury will feel the same way if Gorelick and Johnson try to use that line in their testimony, assuming they don’t just take the Fifth when called.

    Let’s not forget that Chris Dodd is knee deep in this mess too. Talk about the foxes guarding the hen house.

    By SAR

    September 26, 2008 1:26 PM | Link to this

    Owning a home is a privilige not a right. The democrats forced people who were born to be renters into houses by forcing the so called American dream on them. When people had twenty per cent down on a home and had the basic math skills to realize what was and wasn’t a good interest rate, we didn’t have this mess. Clinton took people from Building C in the projects and greedy bankers and got them together and they created this horrible mess by giving people loans on a house when in reality, Wal Mart wouldn’t give them credit. If you say you didn’t understand interest rates and your gray matter is in your laundry basket and not in your skull, maybe you were meant to rent. Hopefully not in my neighborhood. McCain for the sane 08.

    By mm

    September 26, 2008 1:30 PM | Link to this

    Sarah,

    What have you been smoking?

    By Hillbilly Deluxe

    September 26, 2008 1:38 PM | Link to this

    First it was Bear Stearns. Then Lehman went bankrupt. (I wonder who the people at Lehman Brothers p** off so that they got turned down for the gravy train.) Then it was Fannie Mae and Freddie Mac. Then it was AIG. Now it’s $700 billion more. And I believe that figure will eventually double probably. Who will it be next? My view is let them go under. Let’s just go ahead and take our lumps and get it over with. No matter which way they go it’s going to be Joe Average who pays the price.

    According to the Los Angeles Daily News (and others) Fannie Mae, Freddie Mac, AIG, and Lehman Brothers are being investigated by the FBI. If anyone is found guilty in any of this why can’t the government seize their assets? They do it to drug dealers among others.

    By Bosch

    September 26, 2008 1:40 PM | Link to this

    mm,

    Koolaid soaked crack.

    By RW-(the original)

    September 26, 2008 1:41 PM | Link to this

    I could see our host letting just the Democrat party line, that the House GOP is blocking the bill, into his movie review, but it’s inexcusable for the New York Times to put it in a news story without explaining that the House GOP can’t block anything

    There is no filibuster provision in the House and the Democrats have a majority. All Nancy Pelosi has to do is put it on the floor for a vote.

    By yankee

    September 26, 2008 1:41 PM | Link to this

    You want me to believe that a bunch of minimum wage fast food workers borrowed 700 billion and that’s the cause of all this. Wake up, the big boys took the last buck the middle class had and now they need another pocket to pick.

    By mccain4prez

    September 26, 2008 1:42 PM | Link to this

    OK, that’s it. I am an independent who was all set to vote for McCain. I was even excited about Sarah Pail when I saw her at the convention. But since then, I’ve been steadily losing faith. The interviews with Palin on TV were shockingly bad - she really is clearly unqualified. And watching this complete farce over the debates unfold sent me over the edge. To say I am disappointed in John McCain is an understatement. How could he imagine we are so stupid that we can’t see he is playing politics with this? I am changing my vote to Obama. The truth is, he is smarter, classier, and will make a better President.

    By Bosch

    September 26, 2008 1:45 PM | Link to this

    SAR,

    Other than your 1:26 being completely absurd, haven’t you noticed all the houses in Alpharetta that are in foreclosure? I don’t think those folks came from Building C in the projects.

    By professional skeptic

    September 26, 2008 1:46 PM | Link to this

    Sarah, is there really much difference between the needy lining up for a meal at a food bank, and the Wall St. financial giants lining up for $700,000,000,000?

    Oh! Wait… the difference is about $699,999,999,991.59. Regardless, it’s all government cheese.

    Know what else is government cheese? Always expecting and demanding the government to provide police and fire protection, sewer and sanitation services, an ever-expanding network of high-maintenance roads and interstates, hospitals, a strong military, intelligence services, a competent justice system, etc… WITHOUT wanting to pay the taxes necessary to support it!

    More sophisticated government services every year, while wanting to pay less and less?

    However you wanna slice it, it’s all the same hunk of government cheese.

    By Taxpayer

    September 26, 2008 1:46 PM | Link to this

    Come on you bunch of Republicans out there. Let’s hear from you about this Republican proposal. You bunch of wimps. Tell us why it will work, how it will work, why it’s better than what the Bush administration, the head of your party, has offered up. Quit whining about what the Democrats are doing and explain to us what the Republicans are doing.

    By hillbilly ragger

    September 26, 2008 1:47 PM | Link to this

    Sarah’s weird, white-trashy screed got me looking up something I’d heard about Obama supposedly not mentioning his race on his application Harvard. While that’s not confirmed or denied by this story, I found this to be of interest to those who think he’s some rah-rah fan of race-based quotas…

    ^^^^^^^^^^^^^^^^

    Mr. Obama was sympathetic to minority students who argued that affirmative action undermined them in the eyes of their white colleagues. But he said he never felt that way at Harvard.

    “I have not personally felt stigmatized,” Mr. Obama wrote in his letter to the editor in 1990.

    That changed after law school.

    A federal judge once asked a friend of Mr. Obama’s whether he had been “elected on the merits” as law review president, Mr. Obama told The Journal of Blacks in Higher Education in 2001. He said the question came up again when he applied for a job as a professor at the University of Chicago Law School.

    Mr. Obama has not described how he felt then. But as a state senator, he spoke with empathy about accomplished minority students at elite universities who sometimes lived “under a cloud they could not erase.”

    Over the past few years, Mr. Obama has also voiced sympathy for whites who feel resentful of race-based affirmative action and questioned how long such programs need to continue.

    Even as he argued that timetables for minority hiring may be necessary where there is evidence of systemic discrimination, he also warned in his second book, “The Audacity of Hope,” that “white guilt has largely exhausted itself in America.”

    It was 2006 then, and Mr. Obama was a wealthy senator considering a bid for the presidency. He worried that race-based preferences, while necessary, might undermine efforts at building cross-racial coalitions.

    Presaging his recent focus on class, Mr. Obama argued that whites were more likely to join blacks in supporting programs that were not racially based.

    “An emphasis on universal, as opposed to race-specific programs isn’t just good policy,” Mr. Obama said in his book. “It’s good politics.”

    By swolf4810

    September 26, 2008 1:56 PM | Link to this

    T. Boone Pickens is hosting a live chat immeadiately following tonight’s debate, if anyone is interested.

    By mm

    September 26, 2008 1:57 PM | Link to this

    RW,

    The Dems don’t want to be solely blamed for corporate welfare. I wish they would just say they’re not going to pass this bill.

    But because of the way the repugs operate, the dems lose if they pass it and lose if they don’t.

    In the end it looks like another one of Bush’s fleecing of America stunts and it MUST be done in a hurry. His last act of lining the pockets of his buddies.

    Reminds me of another rushed vote with no time to debate.

    By professional skeptic

    September 26, 2008 1:59 PM | Link to this

    Sorry, SAR. Your argument holds no water. You see, it takes two to tango.

    Lending institutions willingly chose to offer mortgages to people without verifying their ability to pay. They took the risk and pocketed the origination fees without performing sufficient due diligence. Now, they’re stuck with a bunch of worthless mortgages and related securities, and they expect the middle class to pick up the tab, to the tune of multiple hundreds of billions of dollars.

    By Goldie

    September 26, 2008 1:59 PM | Link to this

    do some research for a change…Fox has higher ratings than all three of those COMBINED,

    Sarah @ 1:09 — had too much Kool-Aid this week?

    I guess you also believe the Internet ad posted this morning on the WallSt Journal website, stating that McBush “won the debate”, “hands down!”…. LMAO!

    By getalife

    September 26, 2008 2:00 PM | Link to this

    “Conservative Columnist: Palin Should Drop OutReport: McCain Aides Complain That Palin Is “Clueless”House GOP Aides: McCain “Not Familiar With The Details” Of Bailout.”

    Amazing incompetence.

    They make w shine.

    By tcoach

    September 26, 2008 2:01 PM | Link to this

    Taxpayer if the dem. and bush plan are so great then why does the great palosi just put the issue to the floor and vote? Why? I think it is because they themselves are scared it will not work and they will be blamed, once again putting their political careers ahead of mine and your best interest. How strange I have listened to Democrates and Obama supporters across teh board say that McCain is 4 more years of Bush, if that is teh case then why are you now mad that he does not agree with Bush? The way the views and talking points of the Democrates leaves this conservative confused.

    So my second question is McCain 4 more years or does it now seem like the Dems. are 4 more years of Bush?

    By ByteMe

    September 26, 2008 2:02 PM | Link to this

    Ok, people, listen up! Another prediction:

    Tonight, if the topic comes up at all, John McCain will blame the failed suspension of his campaign on Obama not participating in all the town hall meetings.

    By Byryck Ybymy fka Wyld Byll Hyltnyr

    September 26, 2008 2:02 PM | Link to this

    Hillbilly Deluxe - your 1:38 PM posts is indicative of the problem at this juncture. First, with respect to your statement “Let’s just go ahead and take our lumps and get it over with”, a melt down of the financial system won’t be that quick or easy. Assets will be written down over time as that is done banks will become first, capital constrained and then capital deficient. One day you will try to buy gas on your way to work, but your card won’t work because the capital deficient issuer of your card won’t be able to attrack the cash to make new advances. Next, when you get to work, you’ll learn that your employer cannot issue pay roll checks because it can’t advance on its commercial line of credit because its capital deficient bank won’t be able to attrack the cash to make new advances because it is viewed as too risky by the marketplace. When you call to make an advance off your home equity line so that you have a cash cushion on which to live you, you won’t be able to do so commercial line of credit because your line has been frozen by your capital deficient bank won’t be able to attrack the cash to make new advances because it is viewed as too risky by the marketplace. Within a number of days you won’t be able to sponge off friends or relatives because they have experienced that which you did a few days before. Make no mistake financial instituions don’t fail because of asset quality problems or loan losses - FINANCIAL INSTITUTIONS FAIL BECAUSE OF LIQUIDITY (I.E. CASH POSITION) PROBLEMS. The Paulson rescue program is all about reducing risk in the financial system so that cash will return to the system and financial institutions will be able meet their immediate obligations. If you don’t change the risk profile of the financial institutions, you don’t fix the problem. The downside of a meltdown of our (already capital starved) financial system won’t be a minor inconveniene and it won’t be over quickly.

    The house conservative preening, posturing, and derailment of a rescue plan is why I have decided to unenthusiatically vote for Obama - change that might be better than nothing.

    I sued to be Wyld Byll Hyltnyr and I am basically, barely able to stomach this message.

    By sunshine and thunder

    September 26, 2008 2:03 PM | Link to this

    JAY

    You absolutely HATE for people to keep the money they earned don’t you?

    So you despise the idea of combining a tax cut with the bailout but, at the same time, I bet you think the bailout will only work if we cut executive pay and bonuses.

    Well I’ve got news for you: every marginal rate tax cut in the last 50 years has resulted in economic stimulation and higher revenue to the treasury.

    Somehow I don’t think cutting executive pay will do the same thing. In fact I know it won’t and so do most of the democrat idiots that want it passed. It is nothing but class warfare, vote grubbing populism.

    By JT

    September 26, 2008 2:04 PM | Link to this

    Well Bookman, The bail out is bad! We have to have it, but it is bad. You can hate on the Republicans all you want and you do. But it was your beloved democrate Barney Frank that help to cause this problem when he insisted that the mortgage company’s and bank’s make these risky loans to low income and minorities. The he stepped back and did not pay attention when these loans were granted even when everyone and there brother knew they had no way to repay… And that started under the Clinton administration.

    By GOPs got to go

    September 26, 2008 2:05 PM | Link to this

    Wow!

    We were graced with the incredible Sarah “Moose Woman” Palin at 1:09.

    I’m surprised she could put that many big words together.

    Neilson must only pole in Stupidville USA

    By fearless fosdik

    September 26, 2008 2:06 PM | Link to this

    John McCain suspended his campaign before he unsuspending his McCampaign .. Nice photo ops JOHN! And, according to REPUBLICANS who were at this summitt that McCain just had to attend!

    Boehner and McCain discussed the bailout plan, but Republican leadership aides described the conversation as somewhat surreal. Neither man was familiar with the details of the proposal being pressed by House conservatives, and up to the moment they departed for the White House yesterday afternoon, neither had seen any description beyond news reports.

    Senator [Bob] Bennett, a high ranking republican official, said these are the principles. And then, guess who came to town? And it all fell apart.”

    McCain’s handling of the negotiations serves to underscore his comment in Dec. 2007 that he is “not an expert on Wall Street” and “not an expert of some of this stuff”:

    Are you kidding me?

    Even the republicans think McCain is an IDIOT!

    By GMAN

    September 26, 2008 2:09 PM | Link to this

    Sarah, get your triffling butt back on that corner and get me my money and don’t come back until the WaffleHouse closes!

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

    By mm

    September 26, 2008 2:10 PM | Link to this

    I’ve got an idea for any of you wingnuts that don’t want to pay your fair share of taxes.

    Get a job at McDonald’s or WalMart.

    Due to your salary, you will get all of your federal tax deductions back when you receive your tax refund.

    Oh wait. What’s that? You couldn’t live on that low salary?

    Then STFU.

    By hillbilly ragger

    September 26, 2008 2:11 PM | Link to this

    Just had a Deep Thought:

    If Bush is The Decider, is McCain The Suspender?

    By Midori

    September 26, 2008 2:13 PM | Link to this

    mm/Bosch/Getalife/Goldie/Mrs. G:

    look/sound familiar

    By Joe

    September 26, 2008 2:13 PM | Link to this

    I still can’t figure out why Obama was even at the big meeting. He just sat there looking like a fish out of water. And some people want this guy to be President? We can debate that later. Back to the real issue. McCain is fighting this bill because the lib dems controlling Congress are trying to attach billions in earmarks to it. This needs to be a clean bill. It’s that simple. Harriot Reid and Barney Frank are trying to skim as much as they can off of this and it’s just not fair to the American People. Unfortunatly we have media in this country such as Jay Bookman and Cynthia Tucker that don’t mind Congress wasting our money and won’t report it accurately…

    By AmVet

    September 26, 2008 2:14 PM | Link to this

    That lovable Larry Kudlow is oft times very hard to stomach.

    But in this instance he is not just another platitudinalist disguising himself as a fiscal ‘conservative”.

    Kudlow: We Will Never Regulate Greed

    Larry Kudlow, host of CNBC’s “Kudlow and Company,” says greed and fear are part of any market system, but executives who broke the law during the housing boom and bust should be prosecuted.

    Don’t count on these entrenched me-first foxes to guard the American hen house any more, Larry.

    The system is completely rigged. That anyone here argues it isn’t, is just an ascetic and an ostrich.

    And would rather waste their useless time foolishly arguing about whether it is the Democrats or the Republicans most at fault.

    While they all laugh their a*******es off and line their pockets with other people’s money.

    No wonder the fleecing has gone on for decades.

    And that the middle class has been paying for these monied crooks for a LONG time.

    Just like Pearl Harbor and 9/11, this country refuses to head off disasters at the pass and only spams from one knee-jerk “fix” to the next.

    A lack of vision and leadership enabled by a lack of national conscience and intellect.

    Vote Nader…

    By professional skeptic

    September 26, 2008 2:19 PM | Link to this

    WILL SOMEONE PLEASE STOP THE MADNESS?? No one forced ANY institution to make loans to people without the ability to pay. These predatory lending institutions DID IT THEMSELVES, because they knew they could make a quick buck on the origination fees, then turn right around and sell off the bad mortgages to be packaged into securities.

    If the institutions that offered these “teaser rate” and “no-money-down” loans had actually been obligated to hold these mortgages, I guarantee you that 99% of them never would have happened.

    “I’m sorry, sir, but unfortunately we have decided not to lend to you based on the results of our investigation into your creditworthiness.”

    THAT kind of investigation was once routine, but it went by the wayside, once these predatory institutions realized they could originate the loans, pocket some quick cash, then sell the loans off as if they were actually worth something.

    The “Dems” were not there in the room forcing the banks to make the risky loans. SHEESH!!

    By tcoach

    September 26, 2008 2:20 PM | Link to this

    mm why would I go get a job that is for retirees and teenagers? I made goals and achieved them through hard work and education to get the job I have today so why should I take a pay cut to go work a job that is for those looking for part-time or extra money? I never sat around hoping it would get better I went out and made a life for myself, so why would I do that? I have earned the position I am in now and would like to keep as much of my money as I can.

    Still waiting taxpayer on why the dems. don’t just pass it through?

    By moonbat betty

    September 26, 2008 2:21 PM | Link to this

    mm, you are a diamond in the rough….

    we had joy we had fun we had seasons in the sun……

    By hillbilly ragger

    September 26, 2008 2:21 PM | Link to this

    from another comments thread—Wingnuts post-game analysis:

    McCain falls off stage:

    Krauthammer: “So, big deal”

    Kristol: Why didn’t Obama fall off the stage also? He is so uppity!

    Bobo: Falling off the stage is so American. Did you ever hear of Hitler falling off the stage?

    K-Lo: I dived to be under him.

    By T

    September 26, 2008 2:30 PM | Link to this

    By hillbilly ragger @ 1:47

    I heard him say something to that effect. It made me like him even more. Race should be a non-issue. All races should be given an equal opportunity. Maybe, it is class warfare. I just do not see how it could be unjust to give those in need (that want it) the opportunity to succeed in the pursuit of happiness.

    By Dusty

    September 26, 2008 2:33 PM | Link to this

    bosch dear heart,1:04

    I never promised you anything, not even a rose garden. This is a blog. Anybody can post. Anybody can respond.

    Sorry but you don’t set up the rules. Go enjoy your afternoon ale like a good ol’ lib. That seems to be your usual entertainment besides spaceships and heroes.

    By Mrs. Godzilla

    September 26, 2008 2:35 PM | Link to this

    Midori

    saw that on teevee on the plane last night…..laughed out loud.

    i’m still laughing over more deregulation and capital gains cuts as a solution….

    Have you read this open letter to John McCain

    Senator, you sold me and America a first-class ticket on your Straight Talk Express, and I’ve come to learn that I actually hold a coach-class seat on the No-Talk Express, or as I like to call it: Sham-trak. I want off this train and I want answers. I’ll even give you the questions in advance so you can study your scripted responses.

    Brilliant!

    By alg

    September 26, 2008 2:35 PM | Link to this

    Jay—You could save a lot of effort by just starting each of your missives with the following: “I hate anyone who has ever thought, voted, or spoken any differently than I do because I alone am smarter than any of them and know the TRUTH (sic) of all things. Today, I particularly hate ___ (fill in name)for his/her transgressions.” Then you could just add an insult or two, and have just as meaningful a column as any you’ve ever written.

    By RW-(the original)

    September 26, 2008 2:38 PM | Link to this

    Is there some reason this server eats posts with links to the Washington Post Fact Checker page?

    Four Pinocchios for Biden’s Tax Fabrication

    I’ve tried it with a link twice.

    By tcoach

    September 26, 2008 2:40 PM | Link to this

    T everyone is given the opportunity to succeed, it is called public schools. I know they are terrible, but it is the path for sucess for many Americans. Those that do not succeed more times than not have only themselves to blame. If they are so poor and down on their luck why not go back to school. Pell Grant, student loans, these are things others have to do. So why should any of my tax money go to those that do not take advantage of these type programs already. Go to a convienent store and watch all of the ones who are supposedly struggleing buying $50-$100 in lottery. You take away incentive for those to do the right thing if you simply give to those that do not do the right thing. And No I do not agree with the bailout if that is your next comment.

    By hillbilly ragger

    September 26, 2008 2:41 PM | Link to this

    T @ 2.30, when he delivered his “More perfect union” speech on race in the wake of the stupid Rev. Wright bruhaha, I became convinced that finally, I was hearing a candidate address me on a tough issue as an adult. Not some childish, needy little voter looking to be coddled, but an adult. It was refreshing.

    I would’ve backed Hillary—she’d have made a fine candidate and a better president than her husband—but I’m glad we’ve got this guy. He works his butt off, he loves his country and his family, and if he’s elected I think he’ll leave office in 2016 with approval numbers the exact opposite of Dim Son’s—if not better.

    By Mrs. Godzilla

    September 26, 2008 2:44 PM | Link to this

    BUT alg

    then he would be copying YOUR style!

    By T

    September 26, 2008 2:51 PM | Link to this

    By tcoach

    That is true. However, when you are 17 or 18 and you do not get certain grants like pell or school loans, it gets tricky.

    The way I interpreted his statements. that he did not see the need for the race factor to get minority children into school. That these funds are to go to those in need of it no matter the race. I do not mind my money being spent on education. I appreciate your tax dollars, because they are paying for my education right now. That and school loans. Better late than never, huh. Oh, I’ll go ahead and thank you again. I will re-enlist in a few months, and use those tax dollars to get my masters.

    By Our Pompous Little Aristocrat's Very First Presidential Deebate

    September 26, 2008 3:05 PM | Link to this

    Jim Lehrer: Greetings fellow dimwits and welcome to Mississippi, thee capitol of Rednecko. It is my pleasure to introduce to you the two participants in tonight’s debate, thee Glorious And Most Magnificent Senator From Illinois, Thee Lovely Barak Oblahma. And his opponent, the old wingnut from Arizona.

    Mr. McBushie, tell us you crazy neokkkon, why did you support the surge in Eyeracki?

    McBushie: I would rather lose an election than I would a war.

    Lehrer: Grand and Splendid Baraki, your reply.

    Oblahma: Uh, uh, uh, uh, uh, uh, uh, uh, uh, uh, that’s racist.

    Lehrer: Wonderful. Excellent. Mr. McBushie, what is your position on Pakistan harboring Taliban terrorists?

    McBushie: The United States must help Pakistan resist the forces of extremism by making a long-term commitment to the country.

    Lehrer: Mr. Dimwit, your reply.

    Oblahma: Your an old man. Old freaking man. You’re so old that you went to school with Satan. You’re so old that the vultures gave up on your as-s decades ago.

    Lehrer: I must say that I am deeply moved by Thee Beautiful and Wondrous Senators response, I feel thee tears welling up in my eyes, pardon me for a moment. PPpppphhhhhhbbbbbtttttttt. Look at thee snot, egads. O.K. I think I’m ready to proceed.

    Grand and Merciful One, how would you bless America with your Wonderful and Gracious Abilities.

    Oblahma: Uh, cause I’m smarter and more experienced than their vice presidential, uh, candidate is.

    Lehrer: Yes, how true, why, all those years as a lackey in Chicago, how can thee tart boast of this?

    How bout it Mr. McBushie, where is hot stuff?

    McBushie: Probably stomping Ted Stevens, why?

    Lehrer: We just adore those legs if you know what I mean, but alas, we are out of time.

    And you Mr. Oblahma are the winner, of course.

    Yes you did!

    Seig Heil!

    By Sarah

    September 26, 2008 3:06 PM | Link to this

    mccain4prz, only an Obama supporter or a member of the Clayton County School Board would fall for that. Yawn. You idiot.

    By tcoach

    September 26, 2008 3:16 PM | Link to this

    T and I have no problem with that however it should never be something that the government goes and presents to people if the people wan thte benefits they should have to go about finding out about them and filling out their own paper work. If you cannot get those loans because your parents make too much then your family should have teh resources to pay for your education or even a better idea, do as my wife did and work full time. She worked over 40 hours every week and got her degree, so what is preventing people from doing that other than a fear of hard work? You all remember hard work right. So what else needs to be done to ensure the poor underprivladge ones have a chance at an education that is not currently an option. I will say it again most of those struggling did something or did not do something to ensure their own failure. Just take some personal responsibility.

    By Goldie

    September 26, 2008 3:18 PM | Link to this

    I have earned the position I am in now and would like to keep as much of my money as I can.

    Tcoach @ 2:20 — and don’t you just get all burned up at how the Repugs keeps spending your tax $$ on welfare for Big Oil companies, their CEOS, and especially all those BILLIONS of $$$ going down that sinkhole in Iraq? Are you just teed off to no end about how the Repugs keep wasting your tax $$$?

    I’ll just bet you are.

    By RW-(the original)

    September 26, 2008 3:18 PM | Link to this

    I can no more disown him {Jeremiah Wright] than I can disown the black community. I can no more disown him than I can my white grandmother

    About two weeks before he disowned Jeremiah Wright.

    Very adult!

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    The New York Times has a story warning Obama about McCain’s debate tactics. They say McCain will twist The Dunce’s positions.

    If the McCain camp wants to play really dirty they can just state Obama’s most current position on any issue and watch that moron stutter and stammer as he tries to get out one of his older versions.

    By Cat Dude

    September 26, 2008 3:18 PM | Link to this

    get out those kitten mittens for obama!

    By Bosch

    September 26, 2008 3:19 PM | Link to this

    Midori,

    Thanks for posting that. I saw that last night - not too long after Paul Begala called Bush “a highly functioning moron.” Two good belly laughs in less than an hour.

    By Taxpayer

    September 26, 2008 3:21 PM | Link to this

    tcoach,

    Do you really want me to explain to you why the Dems will not hand the Reps a “get out of the dog house free” card. I also won’t bother asking you for answers to my questions. After all, the Republicans that offered up the proposal are not even capable of explaining it.

    By TW

    September 26, 2008 3:25 PM | Link to this

    (CNN) – Prominent conservative columnist Kathleen Parker, an early supporter of Republican VP candidate Sarah Palin, said Friday recent interviews have shown the Alaska governor is “out of her league” and should leave the GOP presidential ticket for the good of the party.

    NO! God, NO! Haven’t laughed so hard in all my life. Please DON’T get rid of her!

    By Mrs. Godzilla

    September 26, 2008 3:26 PM | Link to this

    I think Begala was being generous with that high functioning line…..

    By CommunistAJC

    September 26, 2008 3:28 PM | Link to this

    Bud Wiser, You may be the smartest person I’ve seen on this blog today.

    Bosch, Anyone who thinks Paul Begala is funny needs another lobotomy.

    By RW-(the original)

    September 26, 2008 3:29 PM | Link to this

    So President Bush is on the same side as the Democrats on the biggest issue of the day and noted Democrat, Begala, calls him a moron for it.

    Interesting. Begala may have a point.

    By Taxpayer

    September 26, 2008 3:29 PM | Link to this

    Jay,

    Is now a good time to drag out the FairTax[tm] and start asking the FairTaxKooks[tm] to tell us all about how it will solve all of our problems? Come on, Jay. Bring it up, for me. Can the FairTaxKooks[tm] come out and play? We could have so much fun.

    By fearless fosdik

    September 26, 2008 3:29 PM | Link to this

    If I’m correct the debate does not begin until tonight…Correct?

    Then why is there an ad which stated in the on-line edition of the WSJ proclaiming “McCain wins debate!” or how about this one. McCain campaign manager Rick Davis declaring: “McCain won the debate— hands down.”

    JEEZ this guys are despicable!

    http://voices.washingtonpost.com/thefix/2008/09/mccainwinsdebate.html

    By Oprah on a Ham

    September 26, 2008 3:33 PM | Link to this

    ” Gail….slurp..slurp..lick… lick…the debate is on, get some wings and hot sauce …the debate is on..”

    By T

    September 26, 2008 3:34 PM | Link to this

    tcoach

    I have to agree with you about the appreciation of hard work. I do not agree with the ways most of gov’t spending works in that aspect. The one’s that will likely respect the aide and strive to us it just as that, assistance, are often turned away, while the lazy get a free ride. We agree there. I still do not see the harm in helping those that are trying to help and better themselves.

    Do you think it will be possible for a middle class family who has extended themselves to forclosure, bankruptcy, and dwindled savings are going to be able to get those student loans? Possibly, not likely. Then the child suffers.

    Then again I have always heard: That the children will always pay for their parents sins.

    By T

    September 26, 2008 3:39 PM | Link to this

    hillbilly ragger

    Thanks for the link.

    By Goldie

    September 26, 2008 3:40 PM | Link to this

    I sure would like to know how the Borrow-N-Spenders on this blog can justify sending BILLIONS of your tax $$$ for a never-ending occupation of Iraq??? Where’s all that oil loot that your guys Bush, Cheney and McCain promised to the American people that would be used to finance your war and occupation?

    Where is it??? And why don’t any of you Repugs ever offer up your tax $$$ to pay for your wars instead of continuing to Borrow-N-Spend your way into Chinese and Russian oblivion???

    By getalife

    September 26, 2008 3:40 PM | Link to this

    RW,

    The dems don’t listen to the outrage of the people but the gop house are.

    In the end, they both listen to lobbyists and the lobbyists will win again.

    By Bosch

    September 26, 2008 3:47 PM | Link to this

    Goldie@3:40,

    You know, that’s a good idea. Let’s collect on some of the money owed to us by the Iraqis to pay for this mess.

    By RW-(the original)

    September 26, 2008 3:50 PM | Link to this

    Another election season, another Dhimmicrat caught stealing the opponents yard signs

    Hey! Maybe that’s why Jay wanted his readers to focus on how many yard signs they saw for each camp.

    According to multiple sources who have seen the video, the car driven by the Madia volunteer who took the Paulsen for Congress lawn signs has been identified as being owned by Madia’s communications director Dan Pollock. This is the same Dan Pollock who claimed this week that Madia is running a “very positive, issue-oriented campaign”:

    The kicker! Police say it’s no longer a crime since she gave back the signs when the guy requested them.

    What? So all you would have to do is steal signs with impunity is film yourself getting caught and hand them to your camera toting accomplice to dispose of them.

    By atl enclave

    September 26, 2008 4:03 PM | Link to this

    i bet goldie would get caught stealing the neighbor’s signs!

    oh, wait, there would never be anything other than a D

    By RW-(the original)

    September 26, 2008 4:06 PM | Link to this

    getalife,

    You might be right.

    Goldman Sachs bankers are also the number one contributors to the Barack Obama presidential campaign, giving $691,930 to his campaign in this cycle, according to the records.

    In addition to campaign contributions, Goldman Sachs has spent $13.8 million on lobbying expenses since 1998, when Paulson became co-CEO

    Lobbyists? The Dunce would never take money from people who lobby!

    By hotlanta

    September 26, 2008 4:06 PM | Link to this

    Will somebody tell Palin that going from Dekalb Country to Fulton county is not international travel since she see’s Russia from her back door. If she went to the Dekalb County Interational Farmer’s Market she would try to run for President over McCain thinking that being their gives her foreign relations experience. Everybody the said that SNL skit was sexist needs to apologize to SNL and Tina Fey. I like the live version of Palin better.

    By hotlanta

    September 26, 2008 4:06 PM | Link to this

    Will somebody tell Palin that going from Dekalb Country to Fulton county is not international travel since she see’s Russia from her back door. If she went to the Dekalb County International Farmer’s Market she would try to run for President over McCain thinking that being their gives her foreign relations experience. Everybody the said that SNL skit was sexist needs to apologize to SNL and Tina Fey. I like the live version of Palin better.

    By Taxpayer

    September 26, 2008 4:16 PM | Link to this

    Some questions for you Reaganomics wizards out there:

    1)How much would tax revenues increase if capital gains taxes and dividend taxes are completely eliminated?

    2)How much would tax revenues increase if the estate tax was eliminated?

    3)How much would tax revenues increase if all corporate taxes were eliminated?

    4)How much would tax revenues increase if the alternative minimum tax was eliminated?

    5)If all the above taxes were eliminated, how much tax revenues would the Fed take in. Feel free to use historical data as a starting point and explain what government programs would have to be eliminated, what government jobs would be eliminated, how many new jobs at an estimated average income would need to be created, how much the average income earner would pay in taxes, how much the person with capital gains and/or dividend income only would pay in taxes, how much the person living on a pension would pay in taxes, etc.

    By AJC/DNC Management

    September 26, 2008 4:18 PM | Link to this

    By getalife September 26, 2008 10:13 AM Today’s market losses are due to McCain.

    al-Gitmo: Spoke too soon, did we?

    Stocks are spiking as participants head into the final minutes of trading. Dow is up 121.

    bwa

    By professional skeptic

    September 26, 2008 4:32 PM | Link to this

    Goldie, the Borrow-N-Spenders don’t care how many squillion-kajillion dollars gets spent on this war as long as it is borrowed from China and does NOT come out of their pocket in the form of tax dollars.

    You see, they’re willing to spend borrowed money as long as there’s no downside to them in the immediate future. Spending the government’s money with no plan to pay it back does not impact the Borrow-N-Spenders’ personal credit scores. It doesn’t prevent them from socking away millions of dollars in tax-free trusts for their kids.

    There’s no skin off their nose in any immediate sense, so they keep on doing it, with complete and utter disregard for how it will impact taxpayers of tomorrow’s generation.

    Like I’ve said before, the Neo-Con Rethuglicon Borrow-N-Spenders want to be lavished with all the benefits and freedoms that our government can possibly offer, including roads, military, justice system, police, etc… but they don’t want to pay for it. Instead, they want a free ride on the backs of tomorrow’s taxpayers.

    In that sense, they’re absolutely no different from the residents of Section 8 housing that they so love to criticize. Life-long takers of benefits they haven’t paid for.

    By findog

    September 26, 2008 4:51 PM | Link to this

    Hillbilly ragger @2:41

    He would leave in 2013 or 2017… But other than that your assumptions has merit

    Goldie @3:18

    Assuming that you believe in capitalism does not your salary include the taxes? Does not the private company include taxes in their prices? Then why when the big tax cuts of 2001 and 2003 did not prices and executive salaries adjust? Greed? When and how would you propose to: first balance the budget, and second pay off the debt?

    By getalife

    September 26, 2008 4:52 PM | Link to this

    Saw that Andy.

    What crisis?

    The can’t sell the bailout with the market going up.

    By @@

    September 26, 2008 5:13 PM | Link to this

    Looks like Pakistan is losing patience with the terrorists. Kinda reminds me of Iraq’s awakening.

    Pakistan: Authorities Search For Six Potential Suicide Bombers

    September 25, 2008 1350 GMT Pakistani authorities beefed up security in several parts of the country in response to intelligence agency reports that as many as six suicide bombers have entered major cities, Zee News reported Sept. 25, citing Interior Ministry sources. Pakistan’s four provincial governments were informed about possible suicide bombings in Karachi, Peshawar, Islamabad, Lahore, Multan and Faisalabad. Sources told Zee News that an intelligence agency warned that Islamabad faces threats of more attacks and that attackers could use small vehicles to execute the attacks. Earlier, three men were arrested and two explosive-filled trucks were seized in the Sara-e-Alamgir area of the Jehlum.

    Pakistan: Suicide Bombers Blow Themselves Up September 26, 2008 1238 GMT

    Two suicide bombers blew themselves up during a gunbattle with police in Karachi, Pakistan, on Sept. 26, The Associated Press reported, citing the provincial police chief. The gunbattle began when police were attempting to raid a suspected hideout of the militant group Lashkar-e-Jhangvi in Karachi’s Baldia Town area. The raid reportedly began a short time after police had arrested a suspected leader of the group.

    Pakistan: To Control Tribal Region In Three Months, Official Says

    September 26, 2008 1423 GMT Within two to three months, Pakistani Maj. Gen. Tariq Khan said Sept. 26 that Pakistan will retake control of a tribal region bordering Afghanistan where as many as 5,000 militants are believed to be fighting and in control of key areas, The Associated Press reported.

    India in a joint effort with the U.S. is calling in a squeeze play.

    We shall see….

    By TRILLTALK

    September 26, 2008 5:22 PM | Link to this

    2 MILLION PLUS AMERICANS LOST THIER JOBS IN HE LAST 12 MONTHS..THATS THE PROBLEM AND THE ONLY PROBLEM.WHEN PEOPLE START BACK WORKING THE ECONOMY WILL FIX ITS SELF..

    By getalife

    September 26, 2008 5:29 PM | Link to this

    Hell RW,

    Most of them are on McCain’s staff.

    By Marie

    September 26, 2008 5:44 PM | Link to this

    Tax cuts is just what the doctor ordered in this situation. We need to get the economy moving again and develop a PRO-GROWTH plan for doing that. AND TAX CUTS HAVE ALWAYS WORKED IN THE PAST, JAY, ALWAYS!!!

    The spend, spend, spend, and more spending that Democrats are proposing is simply outrageous to any right or left thinking taxpayer. These nimrods want to bail out any and everybody. Bad students loans — gone, credit card debt — you’re outta here, mortgage problems — no problem. This silliness has to end.

    The House Republicans are doing the right thing and taking a stand against this nonesense. There is nothing that says the Paulson-Barneke plan will work anymore than the federal insurance plan they have offered.

    Besides Jay, your guys have control of the House and Senate. Nancy Pelosi only needs all of her stooges and a few weak moderate Republicans to pass this horrendous plan. Why doesn’t she go for it? Why are the Dems insistent on having the “conservative” members of the House Republicans go along with this spending boondogle?

    By Paul

    September 26, 2008 5:44 PM | Link to this

    @@

    Now there’s a good debate question for Obama. In light of the recent statements by the Pakistani gov’t and the firing on American forces, perhaps Obama will let us know what his plans are now for unilateral military action.

    RW-(the original) 4:06

    Got my sushi, ready to settle in. Somehow, though, when thinking of the debate, the term ‘Heroes’ doesn’t quite come to mind.

    Your lobbyist comment:

    It occurs to me that Sen Obama makes much of his work as a community organizer. Has anyone here, though, actually determined just what a community organizer does?

    In Obama’s case, he went to a community, determined the needs of the residents, met with various leaders and groups to align goals and requirements, then made trip after trip to the Legislature to make the case for funding for their programs. He was successful in persuading them to support his clients.

    He brought back lots of dollars.

    Here’s the kicker: I just love the irony.

    Obama was a lobbyist.

    After all that’s been said by so many here about the dirty, #!!#$~! lobbyists, well, heck, I just thought it was kind of amusing.

    By george

    September 26, 2008 5:47 PM | Link to this

    Bookman is an idiot…he’s never seen a Republican/conservative he couldn’t hate. This whole mess started with a “Socialist experiment” trying to get minorities and others to become home owners when they really could not afford it. That was in 1999 while Bill Clinton was president, with the help of a Republican congress. There is nothing wrong with the free market. It’s when the government starts putting its hand in the mix when things get screwed up. As for the Republicans and tax cuts, I’ll take that any day over the Democrats raising taxes.

    By RW-(the original)

    September 26, 2008 6:10 PM | Link to this

    Paul,

    Isn’t any elected official basically a lobbyist?

    I know you asked @@, but what difference does it make what Obama says his policy on any issue is tonight? If it’s unpopular he’ll change it tomorrow and loudly proclaim it’s been his position all along.

    By getalife

    September 26, 2008 6:45 PM | Link to this

    No , elected officials are prostitutes and the lobbyists are the pimps.

    The pimps pay the pols for laws instead of sex.

    Well, the Interior Dept. is the exception.

    Bottom line, the people get screwed. Obama has taken a position to do something about the pimps.

    If he does there will be change, if not business as usual.

    Commenting is open from 8 a.m. to 5 p.m. M-F

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