Home > Thinking Right > Archives > 2008 > September > 27 > Entry

Flailing firms need backup, but no bailout

For conservatives, the prospect of a $700 billion bailout for financial companies is a huge pill to swallow. Companies that take high-risk gambles and lose should fail. Executives who put them on that course should leave unrewarded. There should be accountability and oversight.

My opposition to the proposed bailout of financial institutions is not based on risk to taxpayers, but on the principle that a direct taxpayer bailout moves the solution from the private-sector managers with a financial stake in salvaging their businesses to politicians who have a political stake in fleecing them.

While lenders and buyers behaved irresponsibly, the launch of the problem is government, and congressional politicians specifically. Why would anybody now want to give them license to more of the mischief that they spawned?

A New York Times article from Sept. 30, 1999, circulated by Randy Lewis of the Georgia Daily Digest Web site, documents at least some of the origins of the problem. It was written by Steven A. Holmes. First paragraph: “In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.”

The start-up effort, involving 24 banks in 15 markets, “will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans” and “Fannie Mae officials say they hope to make it a nationwide program by next spring.” Continuing: “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.”

What’s happening here — and it’s continuing in the bailout — is that liberals came to terms with Ronald Reagan’s demonization of Big Government by hoisting their social programs onto the private sector or, in the case of Fannie Mae and Freddie Mac, private-sector firms masquerading as public entities backed by taxpayers. A symbiotic relationship developed between politicians and Fannie and Freddie. Bill Clinton was mouthing empty rhetoric in declaring the era of Big Government over. It’s not over. It shifted.

Nothing’s changed, even in time of financial crisis. “Not less than 20 percent of any profit realized on each troubled asset purchased” will go to fund affordable housing, under one of the proposals debated Friday. Sen. Lindsey Graham (R-S.C.) contends the beneficiary of that is ACORN (the Association of Community Organizations for Reform Now), a housing interest group accused of conducting fraudulent voter registration campaigns.

Should the bailout proceed nonetheless? I’m ambivalent, but it is the House Republicans who have the principled position and the one best for taxpayers. Financial institutions are far better at managing the mess they’ve created than a government driven by politicians determined to punish, fleece and coerce them into becoming extensions of government. I don’t trust meddling politicians.

We are potentially talking big money. Andy Kessler, a former hedge fund manager and author, writing in The Wall Street Journal, opines that the bailout “could net a trillion dollars and maybe as much as $2.2 trillion” for the Treasury. I am convinced that, without the meddling politicians playing in the pool, the bailout will ultimately recover all public money put at risk, and more. The primary problem is panic.

Give them time and a steadier market to deal with their problems and this unhealthy symbiosis among taxpayers, politicians and financial institutions can be limited. Government action is essential, yes, but the House Republicans have the better approach with an insurance pool for bad mortgages that would allow the companies to work through their own problems. Keep Barney Frank off Wall Street. Keep the politicians off, too, who are looking for post-career riches.

There are lessons to be learned here. One is don’t direct private companies to be social service agencies. Build transparency and accountability into public-private relationships, which always should be kept at arm’s length. Government shouldn’t be in the business of picking industrial or financial winners, nor should it determine when executive compensation in the private sector is too much.

People who made bad decisions should fail. That applies, of course, only to the private sector. Politicians are never held accountable for the regulatory and other decisions they make that invite ruin.

Permalink | Comments (86) | Post your comment | Categories: Column

Comments

By getalife

September 27, 2008 2:24 PM | Link to this

GFY, good for you for finally writing about the bailout.

Politicians are never held accountable for the regulatory and other decisions they make that invite ruin.

Well, you can fire the gop for deregulations this election.

Hell, McCain proposed to lighten regulations.

By Dusty

September 27, 2008 3:16 PM | Link to this

Well, Jim has had his say and quite worthy it is. But I cannot be as definite in decision as Jim. I don’t know.

Kinda like being on a very shaky bridge. Stay on it or jump into a deep river? Neither one sounds like a good bet.

But on a cloudy Saturday with little gasoline anywhere, I refer to our notorious Captain of Frivolity and Freedom and his swill, sauve and savage BRASSivity(new word). He is as close to being an entertainer as Alaska is to Russia. Somewhat in sight but not connected to Schenectady.

Considering our Captain’s rank (and he is very RANK) I do not believe he attained his great ratings at the Salvation Army. More like the KKK (AARP Branch) and AA unit.

But….as our Captain bravely hobbles to the ranks of his militia and minutia, we applaud his valiant attempt at frivolity and fuddy-duddy fallout.

Little did we know those infrequent gray cells of our erudite Captain were still putting out CHANGE and chagrin, somewhat like his undercover idol who is not John McCain. In fact, his undercover job is better than anything else he has undercover, none of which we wish to mention.

But a Krispy Kreme Kudo to the Cap’n and to all of you vigilant bloggers. I’ll check back later (maybe) to see if you are still breathing and know a station that has gasoline. Thank you…

By ron

September 27, 2008 3:29 PM | Link to this

Good afternoon Jim,I would judge by the number of credit card applications that I receive in a month’s time that there are still banks out there that want me in their debt.Apparently these banks sold their mortgages and they got out while the gitting was good.These appications tell me I am preapproved and the sums of money mentioned are large.I’m tempted to see if I can get one in my cat’s name.

Two years ago I could see where the housing market was going because I, and you,have seen it before.If I could see it how come the financiers couldn’t see it?Because they didn’t want to.It’s not their money they’re playing with. Theirs is tucked away where it’s safe.

Banks loaned money to people they knew couldn’t pay it back.Real estate agents sold houses to people they knew couldn’t afford it.Everyone used the poor credit risk person to make loads of money.They had to use these people as the people who could pay the loans wouldn’t take them out.Everyone involved collectively made billions of dollars and now they want to stick the taxpayer for the bill.

I don’t trust the Bush administration.I don’t trust the Pelosi,Reid combination and I don’t trust the banks.They are all lying through their teeth.

I also don’t think $700 billion dollars will fix the problem.I believe it’s a lot bigger than that.

By Political Foreskin

September 27, 2008 3:49 PM | Link to this

Grading Wooten: I dont think embarrassed himself too badly with his surprisingly stark revelation of how deeply he grasps the diverse elements of this financial crisis.

By Devastator

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

Millions of Americans finally got a chance to see us take on the fundamental choice in this election — the change we need or more of the same.

I will provide tax cuts for the middle class, affordable health care, and a new energy economy that creates millions of jobs. John McCain wants to keep giving huge tax cuts to corporations, and he offered no solutions for the challenges Americans are facing in their daily lives.

I will end the war in Iraq responsibly, focus on defeating al Qaeda and the Taliban, and restore America’s standing in the world after eight years of disastrous policies. John McCain wants an unending commitment in Iraq and fails to recognize the resurgent threat in Afghanistan.

Let’s be clear: John McCain is offering nothing but more of the same failed Bush policies at home and abroad that he has supported more than 90% of the time in the Senate.

Americans need change now, and I need your help to get the word out about this movement.

In the coming days, it’s going to be up to you to organize locally and reach the voters that are going to decide this election.

Now’s the time to make your voice heard.

Will you make a donation of $25 or more right now to support this campaign for change?

https://donate.barackobama.com/thedebate

Thank you for all that you’re doing,

Barack

By Peter

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

Come on now Dusty……you have not heard ?

All the citizens of Atlanta are to Marta downtown on Tuesday…..

The Governor is holding a Prayer meeting for Gasoline !

By Political Foreskin

September 27, 2008 4:36 PM | Link to this

Neither candidate gained any ground. This was a safe play, opening gambit, pawn to King 4, fair shot across the bow, parry and deflect, demonstrate in your opponent’s front, feel each other out debate.

Too bad the CNN pollsters didn’t hook electrodes up to Jay Bookman to see who was winning the debate. Did anybody read his play by play? He really doesn’t understand our culture at all not to know how ridiculous he appeared with his idiotic updates.

The physical appearance factor, which favored Kennedy, and the fact that Nixon was caught glancing at his watch, suggests that Sarah palin won that debate.

Didn’t Obama sound like our president, though? McCain sounded like the old bitter cantankerosity he truly is.

Once again, though, Obama and the democratic writers dont know how to reply to “the surge”. McCain left himself wide open with, “We’re winning in Iraq”.

Oh? Win? What is the mission? What part of the mission is complete? What criteria are you citing to declare a win?

I want Sarah Palin 2b our prez. I love her now. I’m going to send her a valentines day card tomorrow so that mine will arrrive first, unless Osama Bin Laden sends her one first, the dirty rat, imagine how impressed with sarah palin osama bin laden is. I’ll bet he howls at the moon when he looks at her signed, 8X10 glossy.

I know I do. Sarah, please run for pres in ‘12. You will win. All America needs is a good five cent bikini wax.

Sarah ‘12: This candidacy has legs!

By Ragnar Danneskjöld

September 27, 2008 5:01 PM | Link to this

Good afternoon all. Spamalert @ 4:17. My view on the proposed bailout roughly parallels Jim’s. There is a real liquidity problem out there, born of panic caused by the collapse of the housing bubble. I think that McCain served the country well by quashing the pork-loaded democrat variation of democrat Paulson’s already inflated plan. The house-republican approach - based on loans to financial institutions rather than corporate welfare - is a sounder approach than the pig-in-a-poke buyout plan. I yield to the suggestion that strong government action may be a necessity, although I am certain there is much we are not being told, for fear of accelerating the panic. I note there are news reports of “progress” since McCain killed the stupid original plan yesterday, but I have not bothered to read any - nobody outside the cabinet room knows what is in those plans, so there is no initelligent reason to bother at this time.

By Political Foreskin

September 27, 2008 5:32 PM | Link to this

JBMlaw, U R 1 presumptuous sob.

Recede, Rescind, and Recidivize.

Learn your 3 R’s.

The board ombudsman, myass. I’ll tell you what. the day you quit trying to be something you’re not; the day you write 25 words or less and make an insight that you deciphered from the media mix, the day you quit infusing this blog with the feigned authority of someone who weilds jurisprudence with all the quivering calculation of a cuckold waving a gun at his spouse’s lothario; the day you impose even a co-modicum of self discipline in your assessments, well, sir, THAT’S the day I’ll respect you.

Fair ‘muff?

By jm

September 27, 2008 5:38 PM | Link to this

Let’s see, 1999 … yep the republicans controlled congress then and for the next seven years. They have also controlled the executive branch since 2000. So what you are saying, in all that time those stalwart republicans either did not see any potential problem or worse, saw it and chose to ignore it?

Mr. Wooten, why don’t you say what real cause was, greed. Every one from the home buyers, to the banks, the developers and the brokerages that created those funky securities, thought they had a sure thing. Turns out, the sure thing was an illusion. Like the old saying goes, “If a deal sounds too good to be true, chances are it is”.

By Political Foreskin

September 27, 2008 5:41 PM | Link to this

Lovin the Cubs as we slide into the post season.

Looks like my dreams of a windy city series are dashed forever.

By Filster

September 28, 2008 8:20 AM | Link to this

Bailout big firms for making lousy decisions? Millions paid to corrupt executives? Millions can’t make mortgage payments, facing foreclosure? Here’s my solution to the proposed bailout. Everyone take their mortgage statement to the local IRS (it’s not like they work year round anyway). The IRS fills out a form and the homeowner receies a check for approximately 65 - 75% of their balance, payable to their mortgage company. The mortage company sudden has all its risky loans made much more affordable, the homeowner gets equity, gets to stay in their home, and can re-fi, only for the amount of the outstanding balance, at a much more affordable monthly payment. Wall street gets bailed out for its poor decisions, and John Q gets a break as well. I mean, it’s not like Wall Street is really going to pay us back for the 700 billion, right? They’re worried about all the defaults and foreclosures, so if we should bail anyone out for making poor decisions, bail out the homeowners. If you just bail out the mortgage companies, there are still all these homeowners out there unable to pay their mortgages, and this is putting a bandaid on a severed artery. C’mon Congress, help the American people for once rather than your campaign contributors.

By Bo Chambliss LOBBYIST

September 28, 2008 8:30 AM | Link to this

I know a lot of you are up set that Saxby Special Interest Chambliss has sold Georgia’s vote to Bankers & Insurance Companies for the $1,322,000.00 that opensecretc.com states but that is simply not true, these numbers are only through June & I’ve been really busy shaking down special interest down for serious money. In fact we have done so well that we don’t know how much we have collected. All of Georgia should be proud of how much Saxby has sold your vote for. McCain Says Country First, Saxby says Special Interest(especially Bo Chanbliss) First.. SUCKERS.

By Just Nasty and Mean

September 28, 2008 8:30 AM | Link to this

G’Mornin JIm, et al,

Make no mistake, this crisis was spawned by government and politics getting involved in the private sector.

The democraps can’t deny the old toothless sucker and homosexual prostitute landlord Barney Frank—- supposedly the Chairman of the oversight committee for Freddie/Fannie—- was engaged in his own little social engineering scheme to provide housing to the unqualified at taxpayer expense. Well, he did it and NOW WE’RE ALL SCREWED! Thanks, Barney!!!

Lest we forget, Bush’s bi-partisan cabinet Sec. of Treasury Paulson is a DEMOCRAT and has been caught red-handed passing internal notes to the Obama campaign camp prior to Thursday’s meeting that blew up—-CLEARLY politicizing the whole process (sickening!).

If it were up to me, there would be LOANS and government backing using the foreclosed houses and corporate assets as collateral. The corrupt companies, mortgage brokers, and other scammers would PAY interest on the loans and any profits go to pay off the taxpayers FIRST (as opposed to GIVING proceeds to ACORN—as the socialist democraps proposed (yes, ACORN—that corrupt, vote-buying corrupt-filled socialist entity Obama worked with as a “commuity organizer” (please don’t make me Puke!).

If it were MY decision,EVERYBODY that was involved in this scam would have their assets seized until the loan is FULLY paid back.

Let’s get our government OUT of the SOCIAL ENGINEERING business. Trillions of taxpayers $$$$ spent since LBJ PROVES IT DOESN”T WORK!!.

Some people are parasites—that’s all they want and that’s all they’ll ever be. It is NOT up to me or the taxpayer to support their decision to be what they are—a product of the sum of the millions of decisions in their lives.

By Churchill

September 28, 2008 8:37 AM | Link to this

Damn Jim what’s wrong with you here’s our today Palin article.. You have got to do a better job on Palin…..

She’s Not Such A Delicate Flower, Guys

Sunday, September 28, 2008; Page B02

CNN anchor Campbell Brown made waves last Tuesday when she said on the air that she had “had enough of the sexist treatment of Sarah Palin” — by Sen. John McCain and his aides. “I call upon the McCain campaign to stop treating Sarah Palin like she is a delicate flower who will wilt at any moment,” Brown declared. If Palin is “ready to be one heartbeat away from the presidency,” the campaign should let the GOP vice presidential nominee “face down those pesky reporters just like Barack Obama did today, just like John McCain did today.”

Here are excerpts of the discussion that Brown’s call to “Free Sarah Palin” triggered on the XX Factor, a blog written by Slate’s female authors:

Dahlia Lithwick:

Campbell Brown is not the first commentator to claim that the McCain campaign’s month-long muzzling of Sarah Palin represents “sexism,” although she’s probably the most forceful. The blogger Andrew Sullivan has also railed against the sexism of the McCain campaign, which has more or less treated Gov. Palin the way the Bush twins were treated: as adorable but off-limits.

I’m not sure what I think about the tactic of blaming the boys for this, though. Is this really about someone else’s choice to sew Palin’s mouth shut? Yuck. Why do we keep talking about women as though they lack any agency? Are we really going to condemn the McCain campaign for treating her as an object, with demands that they “free” her?

I understand why smart women in the media are enraged by Palin’s refusal to engage them. It’s appalling. But I don’t think it’s good for women to direct that rage at her male keepers, handlers or advisers either.

Hanna Rosin:

Dahlia, my suspicion is that the McCain campaign doesn’t really know what to do with her. They are afraid not that she’ll say something stupid and embarrassing, but that she’ll say something too street-smart, or wicked, or aggressive. A woman with her reckless confidence might be appealing to conservative women but not necessarily to men.

Based on nothing but my intuition, I’m guessing that part of the reason the Palin effect is fading so fast is that the McCain campaign has tried so hard to turn her into a pet — adorable, as you say, but mute. So now she’s fetching but useless.

And whom else could we blame but her male handlers? It can’t possibly be her choice. One suspects she would love to take the liberal media on, given the chance.

Bonnie Goldstein:

At the risk of violating landlord-tenant confidentiality, Dahlia, I want to tell a story that may make you trust Campbell Brown on this.

I once had a new tenant moving into a small Adams Morgan apartment that my husband and I owned as an investment. The painter had been a bit sloppy about spattering, and the new renter asked me to have him come back and clean up the now-hardened paint along the baseboard floor. I knew he would drag his feet on completing this chore, so I told the new tenant that I preferred not to bother him.

She looked me straight in the eye and asked, “Is this how it’s going to be, Bonnie?”

My considered answer was, “No, I’ll come personally this Sunday and wash your floor,” which I did. After that, Campbell Brown — then a young campaign reporter at NBC — was an ideal tenant, and she and I never had another problem.

I now picture Campbell looking Sarah Palin in the eye with a similar expression and asking her the same question: Gov. Palin, is this how it’s going to be? And I understand why the McCain campaign is trying so hard to keep them apart.

By Ga Values

September 28, 2008 8:51 AM | Link to this

Since Dusty doesn’t read the Washington Post, here’s their Conservative Editorial for today.. Even the Liberals know we are in a world of hurt…

The Long-Term Cost The pending bailout is only the first step toward restoring the country’s financial stability.

THE $700 BILLION financial rescue plan pending in Congress may or may not stave off short-term economic collapse. We both hope and expect that it will. One thing the bailout cannot do, however, is correct the deep and long-neglected fiscal imbalances that brought us to this day. The United States’ twin habits of consuming more than it produces and of promising more government services and benefits than it is willing to pay for have made us dangerously dependent on debt, public and private, to sustain our standard of living and to fund our government. These habits must end, lest we risk the country’s long-term prosperity — and the federal government’s stability. Paid for with borrowed money, today’s rescue plan will actually make matters worse in the short term. But it will be money well spent if we use the time it buys to put America’s financial house in order.

Back in June — before the government had assumed Fannie Mae and Freddie Mac’s $5 trillion debt and before it had embarked on the most recent batch of financial bailouts — the Government Accountability Office issued a report declaring that the federal government was on “an unsustainable long-term fiscal path.” The government has committed to spend $54 trillion more than it would take to keep the budget deficit at the 2007 level (about 1.2 percent of gross domestic product) over the next 75 years. Though spending on wars in Iraq and Afghanistan and on other items have undoubtedly contributed, by far the biggest cause is the projected cost of Social Security, Medicare and Medicaid, brought on by an aging population. According to the GAO, existing law requires the government to spend $41 trillion more on these entitlements over the next 75 years than it can expect to receive in payroll taxes and premiums. Of this, $34 trillion is related to health-care programs.

Does 75 years seem remote? Well, the crunch actually begins much sooner than that — in 2011, when Social Security’s cash flow turns negative, because of the first wave of baby-boom retirements. No longer will the rest of government be able to live off the surplus in Social Security’s trust fund. According to the GAO, the federal budget deficit — projected at more than 3 percent of GDP next year — is on a path to exceed 20 percent of GDP by 2050, unless we enact substantial reforms to our tax structure and entitlement programs.

The federal debt in August was just over $9.6 trillion, or about 65 percent of GDP — better than, say, Japan (182 percent) or Italy (106 percent) but worse than historical U.S. norms. About a quarter of U.S. government debt is held by foreigners; we owe Japan and China about $500 billion each. Recent events will push their share higher. We are lucky to own the printing press that produces the currency, U.S. dollars, in which these debts are denominated. But we cannot inflate it away forever. Eventually, our creditors will demand higher interest in return for accepting pieces of paper backed by “the full faith and credit of the United States.”

This has been one of the most exciting presidential races in recent memory, marked by the high drama of a young African American nominee’s bid to make history and the even higher drama of the past few days. But, in light of the country’s actual economic predicament, it has not been a terribly serious or even relevant campaign. Both Democrat Barack Obama and Republican John McCain have ignored the long-term entitlements crisis, making tax and spending promises that they cannot keep without borrowing more money, much of it from abroad. In the next 37 days, they must engage in a more realistic debate.

By ron

September 28, 2008 9:03 AM | Link to this

Filster—You’ve got the idea but of course you know it can’t happen that way.Too many deserving people get help.The object of this exercize we see being played out with our money is to assure not only the solvency of the banks but to make sure they get the foreclosed property as well.Can’t have that going to the nasty people.”Let them eat cake”,wasn’t it?

Under the watchful eye of government,another $634 billion is going to Bush for signature.Out of that a little will go for heating oil to help the little guy,but the rest is for Mr.Big.

I forget what research shows about how much debates sway voters,but I think it’s in the 20 to 30 range.That’s 20 to 30 voters that change their minds with each debate.No research on how many of them change back.We watch debates hoping that one of the participants fall flat on their face.We do this these days in lieu of throwing Christians to the lions.

By Churchill's Mom

September 28, 2008 9:24 AM | Link to this

New Billions in Earmarks Approach By ROBERT PEAR Published: September 25, 2008 WASHINGTON — As Congress tried to cobble together a plan to spend huge sums on a financial bailout, lawmakers also moved Thursday toward final approval of an omnibus spending bill with more than 2,300 pet projects, including a $2 million study of animal hibernation.

Many lawmakers had promised to go on a diet, but their appetite for the pet projects, known as earmarks, has returned as Congress finishes its work for the year and Election Day looms less than six weeks away.

Taxpayers for Common Sense, a budget watchdog group, calculates that earmarks account for $6.6 billion of the omnibus bill’s cost, which totals more than $630 billion. Senator Ted Stevens, the Alaska Republican who is on trial just a few blocks from the Capitol, appears to have gotten more earmarks than anyone else: 39 items totaling $238.5 million, according to the organization’s tally.

Representative John P. Murtha, Democrat of Pennsylvania, was the apparent winner in the House, with 30 items totaling $111 million, including $24.5 million for the National Drug Intelligence Center in Johnstown, his hometown.

Mr. Murtha told reporters that earmarks were just a tiny fraction of “what the administration wants to bail out those rich guys in New York.”

Other lawmakers said the earmarks were a way of tossing a few bones to Main Street, before the Treasury pours hundreds of billions of dollars onto Wall Street.

The omnibus spending bill, passed Wednesday in the House, with the Senate expected to follow suit soon, includes $488 billion for the Defense Department in the coming fiscal year, which begins next Wednesday. Military earmarks account for about 1 percent of that sum, Mr. Murtha noted, and the $700 billion rescue plan for the nation’s financial system would cost nearly 150 times as much as those projects.

Critics of earmarks, who gained momentum last year, were like voices in the wilderness this week.

“This all may seem a little trivial in a week that we may approve $700 billion,” said Representative Jeff Flake, Republican of Arizona, who has led the campaign against earmarks.

The omnibus spending bill includes no earmarks for the major presidential candidates, Senators John McCain, Republican of Arizona, and Barack Obama, Democrat of Illinois.

Mr. McCain has denounced earmarks for years, saying they distort and corrupt the legislative process. Mr. Obama has obtained earmarks in the past, but in March he endorsed a one-year moratorium so Congress could re-examine the way they are awarded.

Many earmarks go to universities. Some go to small businesses, and some to big corporations.

Senator Stevens got $2 million for the University of Alaska to study “hibernation genomics.”

Martha A. Stewart, director of federal relations for the university, said scientists were studying the hibernation of Alaskan ground squirrels and black bears. If medics could induce a state of hibernation in humans, she said, they might be able to increase the survival chances of wounded troops being evacuated from the battlefield.

Far from being ashamed of their earmarks, some lawmakers cite them as evidence of their political strength and their ability to help constituents.

Representative Christopher S. Murphy, Democrat of Connecticut, and Senator Joseph I. Lieberman, independent of Connecticut, got $15 million to clean up the site of an old munitions factory in Waterbury. The city had help from a lobbyist, A. David Giordano, who was deputy manager of Mr. Lieberman’s 2006 re-election campaign.

“Earmarks should ultimately go away and be replaced by a merit-based process of grant allocation,” Mr. Murphy said in an interview. But, he added, Connecticut’s share of federal grants has shrunk under President Bush, and “the Defense Department has some responsibility to clean up the properties that it helped pollute.”

Senator Christopher S. Bond, Republican of Missouri, obtained $800,000 for the Pentagon to spend on a drug treatment for a skin condition, pseudofolliculitis barbae, popularly known as shaving bumps or razor bumps. The drug is made by a small pharmaceutical company in the St. Louis area.

“The Defense Department has long recognized pseudofolliculitis barbae as a serious dermatological condition that disproportionately affects African-American and Hispanic men, and up to 33 percent of active-duty military men,” said Shana Marchio, a spokeswoman for Mr. Bond. This condition not only causes painful lesions but also “affects combat readiness and personal safety,” by making it more difficult for men to use gas masks and oxygen masks, Ms. Marchio said.

In January, Mr. Bush issued an executive order telling federal officials to disregard earmarks unless they were explicitly included in the text of legislation. But Congress has apparently found a way around the president’s order. The omnibus spending bill says that the lists of earmarks, though not included in the bill, “are hereby required by law to be carried out” by federal agencies, just as if they were in the bill.

By Mid-South Philosopher

September 28, 2008 9:28 AM | Link to this

Well, at 9:21 A.M. on this lovely Sunday morning, it appears that the corporatists (those capitalistic communists) have won. It appears that the national government is going to bail the bunch of bstads out…at your and my expense. Thus ends the American economic system as we have known it in the past. We now advance into uncharted waters where the government becomes an investor. Smells strikingly like socialism mingled with facism.

I sure am sorry that I voted for George W. Bush. I was taken in lock, stock, and barrel. In retrospect, Alphonso Gore and Johnnie Kerry probably would not have been any worse. They damn sure couldn’t have been any more incompetent.

By Peter

September 28, 2008 10:08 AM | Link to this

Yes By Mid-South Philosopher ……King George will get his way and finish the BILKING of AMERICA……..

Imagine how much money the US Taxpayer is be on the hook for after 8 years of Bush…….We are now going over the Trillion Dollar mark !

The WAY REPUBLICANS RUN OUR GOVERNMENT is a joke, and to say they are Conservative, is about the biggest lie we have today !

I also spend allot of time on U-Tube watching the videos of McCain…… I now realize the “Songbird of Hanoi” had more to do will Killing Americans during the Vietnam War than any individual that was a POW.

Apparently he gave up soooooooooo much info to the Enemy…….. Americans causalities went up terribly after McChicken spilled his guts and told about the supply routes, and bombing routes the Americans were using……… They say Jets flying these route were shot down at an alarming rate, until all the Routes were changed, and they ended the bombing of North Vietnam.

The “Songbird of Hanoi”…….. that is what the Vietcong called him…….

Now when you realize also that there are still guys out there that never came back, and McChicken was a leader in closing the books on these AMERICANS…..he is and will never ever be considered a “Hero” by the POWs, and Vietnam Vets…….in fact he has blocked all kinds of Bills aimed at helping these guys when they came back from the WAR.

The Real McChicken will be known to the Young voters of America, and he will get squashed in the Election along with his Soccer Mom, no Experience Running Mate !

By Churchill's Mom

September 28, 2008 10:27 AM | Link to this

Anyone who saw the Palin interview w/ Couric and will still vote for her is not putting country first.

By @@

September 28, 2008 10:33 AM | Link to this

Jim:

It’s like riding the democrats’ NAG, named “It’s Just Not Fair” across the finish line only to run the risk of it dropping dead in the winner’s circle.

Replacing the winner’s wreath with a loser’s yoke.

Bush sought to muck out Fannie and Freddie’s stable in 2003 and now wants to hand US the shovel?

We would have been better served had he hit the American public in the face (naming names) with the shovel before we foundered in the manure.

Whoa is you!

Whoa is me!

The new winner? Political Handicappers.

By Dusty

September 28, 2008 11:18 AM | Link to this

Well, thank you to all you bloggers who cut’n’paste LONG LONG commentaries to inform us ignorant bloggers of current events.

I can only guess that YOU HAVE AN OPINION. Is that beyond your capability? Try it sometimes. It might be exciting to find that you have an opinion of your own.

I’m still working on mine. Looks like Congress may decide without my tender touch.. DANG!!

By Redneck Convert

September 28, 2008 11:29 AM | Link to this

Well, I don’t see what people are griping about. You can’t have Trickle Down if there’s nothing to trickle down. So the guvmint got to shovel money to the big boys so they can let a little of it drip onto the rest of us.

I see the godly conservatives are all bound up about the bailout. They want to let Free Innerprize work, but if they do they will get hammered like a librul in a redneck beer joint. So I reckon this is one case where the guvmint stepping in is the best thing.

I’m still waiting for the trickle to get to me. Sooner or later the big boys are going to get tired of using a bulldozer to pile up their money. And that’s when I expect the floodgates to open and the money to start falling on us little guys.

That’s the Republican way, and I beleive in it just like I beleive in the Bible. You got to take care of the rich people first on account of that’s where the money comes from to Trickle Down. Water don’t flow uphill and neither does money.

That’s my opinion and it’s very true. Have a good Sabbath everybody and don’t try to buy no beer today and go against the Bible. If you already got it at home you can guzzle it, but selling it on the Sabbath is a Mortal Sin.

By GaNative

September 28, 2008 12:16 PM | Link to this

If they are going to use taxpayer’s dollars to bail out corporations because of bad decisions, then the government needs to go two steps further than just monitoring the executive salaries. 1. They should make them bring all offshore jobs they have back to America. 2. They should make them hire only Americans at their American corporate headquarters. That’s only fair if they are using our dollars to bail them out. The real reason this country is in this financial mess is because the people that supported this country (the working middle class Americans) are either unemployed or under employed. It doesn’t take a rocket scientist to see why banks and investment firms are falling like flies. The people that made the deposits and investments can’t do it anymore when they have been set aside in favor of workers that are not U.S. citizens.

By GaNative

September 28, 2008 12:20 PM | Link to this

If they are going to use taxpayer’s dollars to bail out corporations because of bad decisions, then the government needs to go two steps further than just monitoring the executive salaries. 1. They should make them bring all offshore jobs they have back to America. 2. They should make them hire only Americans at their American corporate headquarters. That’s only fair if they are using our dollars to bail them out. The real reason this country is in this financial mess is because the people that supported this country (the working middle class Americans) are either unemployed or under employed. It doesn’t take a rocket scientist to see why banks and investment firms are falling like flies. The people that made the deposits and investments can’t do it anymore when they have been set aside in favor of workers that are not U.S. citizens.

By GaNative

September 28, 2008 12:34 PM | Link to this

Isn’t it funny how white folks always complained loudly about subsidies being given to minorities by way of medicaid and welfare. Yet you don’t hear an outcry from them on bailing out corporations. They look at percentages and not real numbers. Sure a larger percentage of minorities receive subsidies, but the real numbers show more white folks receive subsidies just by that fact that there are more of them. If you’ve got 1000 whites and 10% of them receive subsidies, that’s 100 whites. if you’ve got 100 minorites and 50% of them receive subsidies, that’s 50 minorities. Which is greater, 100 whites or 50 minorities? Don’t be fooled by percentages.

By Political Foreskin

September 28, 2008 12:42 PM | Link to this

This bailout is the beginning of the end of the American Experiment. it’s so over.

Every last penny now is gone to Cheney-clones.

We’ll be rounded up by Blackwater Mercenaries soon and keeled to death. Those that are fit for slave labor will be spared.

They went after the joke-writers first during the Inquisition, the Third Reich, and the Patriot Act. Somehow, My ancestors and I managed to escape.

Does that mean I’m not funny?

No, really. Does it?

By ron

September 28, 2008 12:43 PM | Link to this

I’ve emailed and called my Representative and Senator person to indicate I would be against a bailout vote from them.I have decided that I don’t want my money going to help the people that caused this mess.My neighbor could use some help buying test strips and insulin,but she doesn’t get any.I would much rather see some close to home help.

I would not want to be President during the next 4 years.There is a high possibility that whatever you do will be wrong and accelerate the problem.George has done that much damage to America.I voted for that man—twice.Not a very good record on my part.If the Dems would stop running semi-communists then just maybe——.No way with this session’s candidate.I’ll stick with old John.

If all goes as planned,offshore drilling will commence in 2014.Comforting thought,isn’t it?The Dems will ,of course,upset the apple wagon and work to get large sectins of the coastline declared off limits.All of George’s Bank will be off limits to drilling fairly soon.One year or less.

By SameOldCrap

September 28, 2008 12:47 PM | Link to this

So to make things fair, GaNative, 500 whites out of 1000 should be receiving subsidies right? LOL.

By GaNative

September 28, 2008 12:56 PM | Link to this

Ron, Obama is not a semi communist nor a muslim. But even if he was, you white folks caused the problem by opening your borders to let anyone into the country. You claimed you wanted a diverse and global society and enconomy. You’ve got it. As with most whites your real problem is the color of his skin. There is no way in hell any sane person could vote for Mccain when the only thing I got from his debate was his repeadetly reference to his service in the army and all the past dead generals and presidents. Who Shives A Git about that?** Obama addressed what I wanted to hear and that is the middle class Americans who have been set aside in favor of foreigners for profits by corporations. I’ve dealt with white presidents all my life. Never had a real problem with it because that was just how it was. I voted for Reagan, I voted for Clinton and endured prosperous times under both of them. But the last 8 years under Bush has been nothing short of hell. I had to go to school and get educated and the subject of English was taught to me all my years in high school and two years of college. Now I get laid off while they have some foreigners working all around me that can’t compose a sentence that makes much sence. It’s time for a change.

By Jeff

September 28, 2008 12:56 PM | Link to this

Republican Socialist; who would have though?

By Jeff

September 28, 2008 12:57 PM | Link to this

Congress should have followed Sweden’s example of how it handled its similar banking crisis in the early 90’s. Shareholders in these companies should be wiped out…lose everything they have invested. The federal government should have then recapitalized those businesses and assumed 100% ownership. Once the market has stabilized, the government could once again take the companies public. Sweden was very successful doing this, and it ultimately didn’t cost the Swedish government that much.

By GaNative

September 28, 2008 1:03 PM | Link to this

Yeah, I took english and the typo should have been sense instead of sence. :)

By Garth

September 28, 2008 1:06 PM | Link to this

OBAMA needs to go back to being a slave. I’d like to have him in my kitchen in shackles and chains and fry me up some chicken while MICHELLE O. ‘services’ me at the end of a dog collar and leash before going to scrub my toilet.

By GaNative

September 28, 2008 1:10 PM | Link to this

Was that McCain’s daughter that came up on stage with him after the debate? All during the Clinton years all I ever heard from white folks was the issue of morality and lies. Bush has lied to us over and over again, about the war, about the economy, etc. Now this moral McCain had a wife here in America praying and crying from him while he was a prisoner of war in Viet Nam. But when he gets back home and on his feet he dumps her. Now if he lied to his wife about his affair with Cindy, do you think he’d be hesitant to lie to the American People? This guy has no morals, ask his first wife. But you’ll vote for him because he’s white.

By Ragnar Danneskjöld

September 28, 2008 1:12 PM | Link to this

I realize the truth does not particularly matter to the leftists on this blog, but just for the sake of the record, the “bailout” is the compromise between democrat Paulson (negotiating for the White House), and house and senate democrats, and republican senators (disproportionately RINOs.) The House republicans remain unified against the bailout.

By Ragnar Danneskjöld

September 28, 2008 1:18 PM | Link to this

I also have an obligation to correct my earlier wrong speculation. I wrote Friday that Citibank had likely failed, and that was the motivation for the quick action on the “bailout.” Seemingly it is Wachovia, not Citibank, that has failed.

By getalife

September 28, 2008 1:20 PM | Link to this

‘Un-American’ Bailout, Paulson Should Have Quit, Gingrich Says.

Thanks Newt but what about w, cheney, bernanke, cox, hell all of them?

By TW

September 28, 2008 1:22 PM | Link to this

Mr. Wooten - great representation (@1:06) of the company you apparently like to keep. You should be very proud. It’s nice to know the rightwing has abandoned it’s facade of issue oriented dislike for the Democratic candidate.

By AmVet

September 28, 2008 1:23 PM | Link to this

GaNative, some good points, BUT…

One of the major problems with Senator Obama for me is that in spite of his lies otherwise, he is not black.

And it doesn’t matter how often he, you or anyone else says it.

I understand he has “embraced” his Kenyan father’s Islamic heritage.

No problem. For me anyway.

The point is that he and the Obamaniacs act as if his white Kansas mother was some sort of a petri dish.

She was not.

In Judaism, we consider our mother, and not our father, as the defining element of our heritage.

So it is arguable that Senator Obama, is in fact, white.

In reality - he is a mulatto. Half-white and half-black. But I sense that he is embarrassed to say as much

But Senator Obama, if you are EVER to earn the non-partisan American public’s trust, quit the act.

By Ragnar Danneskjöld

September 28, 2008 1:24 PM | Link to this

Also, Dear PoFo @ 5:32 yesterday, your post suggests you do not understand the emotional differences between leftists like you and conservatives like me. I do not write for approval, but rather to scour the BS out of leftism and leftists. Thus my harsh commentaries on the pseudo-science that motivates so many leftist apologies for the “necessity” of big government. For leftists, of course, there is no real intellect required so long as people repeat the leftist mantra-of-the-day and fling epithets at people with principles. The cult mentality of the left does not animate conservatives.

I do not appreciate you for the content of your message, but merely for the way you say things. Stick with what you do well, good friend, and don’t try to be what you are not.

By GaNative

September 28, 2008 1:30 PM | Link to this

Ragnar, it’s not over yet. In my opinion I think Citibank will eventually bite the bullet. It’s been their practice to send millions of unsolicited credit card offers in the mail to citizens. I can’t see how they can avoid this mess. Another bank that I suspect to bite the bullet too is this HSBC the owners of Household Beneficial who has screwed mortgage customers for years and was made to pay back a substantial amount a few years ago by way of a class action lawsuit. I can’t see either of them surviving much longer.

By Dusty

September 28, 2008 1:34 PM | Link to this

GANative,

Yeah, WHITE FOLKS did all that stuff to you so you could have an excuse for your unabated PREJUDICE.

Education didn’t do much for you, did it? Now those FOREIGNERS are also doing all that stuff too. I guess you are going to have to blame a whole bunch of people for the “bumps” in your life. Did you ever consider the idea that it might be YOU?

By getalife

September 28, 2008 1:35 PM | Link to this

Mass. has the right idea.

“A ballot proposal to eliminate the state income tax could drastically alter — some say cripple — state government”.

I say lets vote to eliminate the federal income tax and shut down the corruption.

By GaNative

September 28, 2008 1:42 PM | Link to this

AmVet, I don’t care what color Obama is. It doesn’t matter to me. I don’t belong to any party. I voted for Clinton, I voted for Reagan. But if you really look at McCain, he’s a liar and a cheater. If that’s the moral character you want as your president then vote for him. People keep saying Obama did not articulate any specifics on his plans. How much more specific can he get when he references the Middle Class Americans who have been taken out of main stream society. That’s not only specific, that’s real, just ask your failing Banks and Mortgage companies. These foreigners don’t make investments and they don’t make deposits. Their main banking transactions are wire transfers out of the country. McCains idea of a Spending Freeze is ludicrous. That’s the problem with the economy now. Money is not circulating.

By Curious Observer

September 28, 2008 1:48 PM | Link to this

If the Dems would stop running semi-communists then just maybe——.No way with this session’s candidate.I’ll stick with old John.

Yes, yes. We know. If Jesus Christ himself came to earth and ran for president, you would vote for Satan unless Christ changed his skin color to white.

By Robert

September 28, 2008 1:53 PM | Link to this

If I don’t vote for Obama because he’s black, doesn’t George W Bush’s pitiful performance force me to reevaluate my worth as a white man?

Clearly.

Thus, any white man who walks from the polls in November having dismissed Obama because of his skin color, walks from that poll a lesser man.

By GaNative

September 28, 2008 1:55 PM | Link to this

Dusty is that Bump in my life sorta like the Hiccup in the economy that Bush referred to? The last 8 years in my life surely hasn’t been a BUMP. I’d say the last 8 years have been more like Land Mines. Listen man, I’m not prejudice. I just tell it like it is. The BUTT NAKED TRUTH. I don’t cover it up. Now I know it’s a hard pill to swallow for most whites, but it’s nothing but the truth. I can relate to the Reverend Jeremiah Wright when he said “God Damn America” and “America’s Chickens have come home to roost”. You think I was sitting at home singing God Bless America when I was unemployed and some foreigner who is not an American Citizen never missed a paycheck? You think I want to Pledge My Allegiance to the flag of a country that has turned it’s back on me? Phuck That!! And this economy has truely proven that the chickens are coming home to roost. When Ronal Reagan was President I never in my life time felt prouder to be an American the night he got on TV and announced that we were going into the Pursian Gulf and said “Let’s Go Get One For The Gipper”. But Bush has made a mocracy of the office.

By Churchill's Mom

September 28, 2008 1:56 PM | Link to this

GOP concerns about Palin grow By ALEXANDER BURNS & DAVID PAUL KUHN | 9/28/08 7:52 AM EDT Updated: 9/28/08 7:52 AM EDT Text Size:

A growing number of Republicans are expressing concern about Sarah Palin’s uneven — and sometimes downright awkward — performances in her limited media appearances.

Conservative columnist Kathleen Parker, a former Palin supporter, says the vice presidential nominee should step aside. Kathryn Jean Lopez, writing for the conservative National Review, says “that’s not a crazy suggestion” and that “something’s gotta change.”

Tony Fabrizio, a GOP strategist, says Palin’s recent CBS appearance isn’t disqualifying but is certainly alarming. “You can’t continue to have interviews like that and not take on water.”

“I have not been blown away by the interviews from her, but at the same time, I haven’t come away from them thinking she doesn’t know s—t,” said Chris Lacivita, a GOP strategist. “But she ain’t Dick Cheney, nor Joe Biden and definitely not Hillary Clinton.”

There is no doubt that Palin retains a tremendous amount of support among rank-and-file Republicans. She draws huge crowds, continues to raise a lot of money for the McCain campaign, and state parties report she has sparked an uptick in the number of volunteers.

Asked about Palin’s performance in the CBS interview, a McCain official briefing reporters on condition of anonymity said: “She did fine. She’s a tremendous asset and a fantastic candidate.”

But there is also no doubt many Republican insiders are worried she could blow next week’s debate, based on her unexpectedly weak and unsteady media appearances, and hurt the Republican ticket if she does.

What follows is a viewer’s guide to some of Palin’s toughest moments on camera so far.

Speaking this week with CBS’s Katie Couric, Palin seemed caught off-guard by a very predictable question about the status of McCain adviser Rick Davis’ relationship with mortgage lender Freddie Mac. Davis was accused by several news outlets of retaining ties — and profiting from — the companies despite his denials.

Where a more experienced politician might have been able to brush off Couric’s follow-up question, Palin seemed genuinely stumped, repeating the same answer twice and resorting to boilerplate language about the “undue influence of lobbyists.”

By GaNative

September 28, 2008 2:15 PM | Link to this

Quite frankly it really doesn’t matter too much which candidate wins. There is no way they can undo the mess Bush and his cronies has created in 4 years. And they might not be able to correct it in 8 years. I knew this administration was dirty the minute Colin Powell washed his hands of them. They have basically destroyed the average American. Senior Citizens are filing bankruptcies in record numbers. Even when they start getting the economy corrected who are they going to lend money to? The average citizen’s credit rating has took a beating. They might have to throw out the FICO score. I keep hearing people talk about bad loans to minorities. Yes some of that did happen. But this past year I’ve seen white people who have owned their home for years lose it. If you are not working, you can only go as far as your savings will take you. Sooner or later you’re going to need a job.

By Dusty

September 28, 2008 2:25 PM | Link to this

TW@1:22

WHAT A CHEAP SHOT! Jim Wooten doesn’t pick posters that come here. This is an open blog, not a pick and choose.

If you think Democrats are running Mr. Roger’s NeighborHood you don’t get around much. Seems to me the libs here are the usual mudsharks. But…the posters on any blog usually represent their own true nature.

By AmVet

September 28, 2008 2:33 PM | Link to this

Yes, the dirty little secret is that the GOP’s Southern Strategy relies heavily on bigots like those that appear here not infrequently.

And they know they have that “base” locked up.

And worse, look at how the deplorable Dusty chastises the 12:56 post but turns a blind eye to the repulsive and hateful one at 1:06.

These faux conservatives NEVER admit to or decry the racists and bigots in their ranks until it is noted that they are loathe to do so. Then they might offer token lip-service but NEVER demand them to leave their hysterically misnamed “big tent”. They are the paragon of phony compassion gone horribly awry.

GaNative, the other major concern for me regarding Sen. Obama is some of the dubious people he has chosen to surround himself with.

Then tries to desperately distance himself from them when the scrutiny reveals what they truly are.

We have just endured arguably the very worst President and administration in American history.

And one of the most damning indictments of him regards the “advisers” he chose to surround himself with - Rove, Cheney, Rumsfeld, Wofowitz, Rice and countless other in-over-their heads sycophants, ad nauseum.

The challenges are MUCH too big for one man.

I have grave concerns about his ability to attract and utilize the best people this nation has to offer.

By Dusty

September 28, 2008 2:40 PM | Link to this

GANative,

You won’t vote for McCain because of marital infidelity? But you voted for Clinton, outright womanizer and liar under oath? I believe that is called a double standard no matter what difficulties you’ve had.

I’m sorry about your hardships but millions of other Americans have gone through the same thing and some a lot worse.I have one in my family who is unemployed and does not want to be. He keeps on trying. I hope you will too.

I think living in America is the first great blessing we enjoy. IN the worst of times, we are still better off than most of the world. I certainly do not want to be anywhere else but RIGHT HERE IN THE USA.

By Dusty

September 28, 2008 2:57 PM | Link to this

AmVet,2:33

Would you please put on your glasses? I was chastising TW for trying to make Jim Wooten responsible for a rotten post.

You are one sick puppy, you know it? You don’t really like anything. There is no Southern Strategy in politics except in your befuddled head.

I would say that there are more anti-discrimnation measures in the South than anywhere in the country. Why else would African Americans and Hispanics flock to the South if it were not a place they could live in fairness?

But you are not fond of anyone, are you? Don’t blame me or anybody else for your rabid disillusionment. You are responsible for your own unhappiness.

By GaNative

September 28, 2008 3:00 PM | Link to this

Dusty, No, McCain’s infidelity is not the only reason I wouldn’t vote for him. He lacks good judgement which makes me think maybe Alzheimer’s is setting in. His choice of Palin as a running mate proves that. She’s dumb as a box of rocks and embarasses all the the things that the women’s liberation movement stood for.

AmVet, I hear ya on the people he’s surrounded himself with. But being black I can relate to that. Just because I have friends that have a criminal mind or who have been in prison doesn’t make me the same. They are just some old associates that I grew up with and I don’t diss them. I treat them just like I would anyone else.

I can remember once in my lifetime being stopped by two white policeman who asked me where I was coming from? I was truthful and told them. They had been watching my every move and pointed out that they saw me with some friends of mine that had been associated with criminal activity. I surely was with them as I ran into them in the neighborhood that I visited and we stood on the streets and talked for a while. But I was not involved in any criminal activity and neither were they while we were together.

I think most of us have some people in our past that we would not take advice from, but we treat them cordially.

By GaNative

September 28, 2008 3:13 PM | Link to this

AmVet, one more thing about associations. Most of us associate with someone that could cause anyone to judge us. Think about it. PREACHERS. Everyone of the top candidates early on during the nomination had a preacher that had made some questionable comments. I know at every church I’ve ever attended I always came to the conclusion that the minister was NUTS. But that didn’t always make me leave, because I had left so many before. I just came to the realization that the clergy is the only occupation where you can say anything without consequences. They can tell you if you put $100 dollars in the collection plate God is going to multiply it ten times. Now if your stock broker told you if you bought $100 of this particular stock that it was going to multiply 10 times, they’d pull his license.

By Dusty

September 28, 2008 3:16 PM | Link to this

GANative

That old line about Alzheimer’s is getting older and more feeble than the ailment. Democrats now looudly assure us that anyone in AARP is on the skids.

I would say McCain is one sharp cookie. He knows what is going on in this country without teleprompters or mentors to help him. There was no hesitation in his debate. He knew what he was talking about. He knows what is going on and he made a wise choice with Palin. She gathers the admiration of Americans who are not brainwashed politicos. She is bright, attractive and a breath of fresh air in Washington. She gives a sigh of relief to Americans.

Keep dragging out the ol’ party line. It is getting tattered and torn but will be discarded after election time. Democrats have had a lot of practice doing that.

By GaNative

September 28, 2008 3:25 PM | Link to this

Dusty, where the hell have you been man? McCain knows history, that’s all he knows. He kept referencing dead presidents and dead war generals. He’s clearly out of touch with what’s going on in America now and reality. He keeps talking about “Win the War”, yet the voice of the American people is sayin “End the War”. He said two weeks ago that the American Economy is Fundamentally Sound, then all hell broke loose and it hasn’t stopped yet. McCain is part of the problem, not the solution.

By GaNative

September 28, 2008 3:31 PM | Link to this

Dusty, the only thing bright about Palin is her skin color. Have you seen the Katie Couric interview and her comments about “I’ll get back to you later” when she had no answer? Did you see Joe Biden making comments about Obama after the debate? Where was Sarah Palin? Why wasn’t she available to make comments. The republicans realize she’s not a smart cookie and are keeping her from the press. The writers at Saturday Night Live hasn’t had it this easy to come up with new material since the days of Jimmy Carter and Brother Billy.

By AmVet

September 28, 2008 3:33 PM | Link to this

Nice try Dusty.

Just doesn’t pass the three day old fishy smell test.

IF there are more anti-discrimination measures in the South (and I’m reasonably certain as always you cannot provide any credible evidence that there are), it might just be because there are more bigots per capita here than anywhere else in the nation.

And more enraged racists.

Overt, as well as the enablers, like yourself.

GaNative, good points about one’s associations. And I try to empathize with the pain of the stereotypes that people of color face each and everyday. Know that the more progressive among us are constantly fighting those inner demons.

But regarding the POTUS, his judgment on this most-trusted inner circle of people is perhaps the single most important decision he will ever make.

And again, GWB totally botched this by using inept Reagan castoffs and goons not seen since Nixon.

Regarding Rev, Wright/Falwell/Robertson ad nauseum, as a non-theist, I am somewhat dismayed that in this day and age, politicians still need and gladly use their preachers and religion as a means of political expediency. I hope I live long enough to see a man of unquestionable integrity and courage stand up before the nation and say, “NO! Religion is NOT part of the equation for me. And is arguably oftentimes just a BIG part of the problem.”

The final reason I will not vote for Obama borders on the experience issue. One that I generally see as over-rated.

Bush ran as an “experienced” outsider. The problem of course, was that the gullible fools who elected him twice didn’t care that the majority of those experiences were abysmal failures starting with his cowardly hiding out in time of war in Alabama while in the Texas ANG.

But at least this stupid infatuation with bungling governor’s, mistakenly assessed as qualified to be an effective President, will not be a factor in November.

So, like him or not, Sen. McCain has a proven and long track record. Some of it very good, some of it very bad and most of it somewhere in between.

So be it.

The saving grace for Sen. Obama, IMHO, is that he is clearly VERY intelligent. Something sorely missing in the leadership of the Republican Party, especially the White House for the past eight years.

But what exactly is Sen. Obama’s track record?

A huge unknown.

And MUCH talk…

Pick your poison, people.

This abysmal Bush administration has ensured that their successor’s job is going to be a hellish one…

By Ragnar Danneskjöld

September 28, 2008 3:35 PM | Link to this

Dear Curious @ 1:48, if Jesus came back and ran on a higher-tax and bigger government spending program, I would vote for one running against Him.

By getalife

September 28, 2008 3:40 PM | Link to this

Its a done deal. The gop house will vote no for the election but it will pass.

Stop whining, you voted for them.

By Dusty

September 28, 2008 3:51 PM | Link to this

Amvet,

So you try to dilute your poison a bit. No way. It is all you have.

I repeat. There is no Southern Strategy except in your head where dark and dubious things lurk in abundance.

The first debate was held in Oxford, Mississippi because a warm reception was awaited there. And it was good. I believe that you will find more African Americans in Southern cities than other parts of the country. Why is that? Because these are good and fair places and many have found the truth over fables.

I know that you try to infer outright that I am some kind of nefarious nightrider of which there has been no indication. Again, it is all in YOUR HEAD.

Bush has done many great things for America and I do not turn my back on him because some things did not go as he wished. Americans seem to feel the same way as they value Bush above Congress.

Bush has a better education than Obama only he does not brag about it. You can cut out the dumb stuff because Obama has done his dumb bits, big time. Don’t take my word for it. Read his book.

By Dusty

September 28, 2008 3:56 PM | Link to this

SPAM @ 1:56 (Palin propaganda)

By getalife

September 28, 2008 4:13 PM | Link to this

Palin strikes again

By @@

September 28, 2008 4:34 PM | Link to this

Getalife:

I say lets vote to eliminate the federal income tax and shut down the corruption.

Not a bad idea. We could keep it local where a watchful eye can prevail.

Let’s get up close and personal. (ISH)

By Dusty

September 28, 2008 4:44 PM | Link to this

getalife@4:13

McCain sure handled that one well.

He said Palin was making conversation, not setting policy.

As usual, Stephanopolous tried to make a “biggie” out of nothing and got cut off at the pass by McCain. McCain is one sharp cookie, as I have said before.

By TW

September 28, 2008 4:48 PM | Link to this

McCain is one sharp cookie, as I have said before.

Your opinion may change when you get to high school.

By @@

September 28, 2008 4:50 PM | Link to this

Main Entry: mi·nor·i·ty

1 a: the period before attainment of majority b: the state of being a legal minor

2: the smaller in number of two groups constituting a whole ; specifically : a group having less than the number of votes necessary for control

3 a: a part of a population differing from others in some characteristics and often subjected to differential treatment b: a member of a minority group

I’ve always wondered why the word minority is applied to black Americans.

Shute! The way I see it, we could all, for the sake of being poor, find ourselves in the majority. Would we still have a minority then? No, wait………the wealthy and powerful politicians will be the minority regardless of party affiliation. Then we’d have to bailout the politicians.

Nope………no, no, no!!! We’ve already done that. They left us no choice.

Who am I? What am I? Where am I?

By AmVet

September 28, 2008 4:58 PM | Link to this

Americans seem to feel the same way as they value Bush above Congress.

And you can’t see the forest from the trees.

GWB has the LOWEST approval rating of any American president. Ever.

And who has said so?

The people paying his salary.

The 79% of Americans, many of whom like me, see him as the man who betrayed their trust and did not adequately “provide for the common good”. (82% on the economy).

And I stand by my earlier predictions that the President’s disapproval ratings may well be nearly 90% before he leaves office.

Shameful. Disgraceful. Unacceptable.

By @@

September 28, 2008 5:03 PM | Link to this

Getalife:

Palin strikes again.

Governor Palin used the big “IF” that’s afforded all politicians.

I was amused during the debate when Lehrer asked OBlahMa what programs he would be willing to sacrifice in light of the economic mess we’re in.

I’m paraphrasing here: OBlahMa — “Well of course there will be some things that we wouldn’t be able to do, but there are some things that I consider very important.” then he proceeded to rattle off every spending program he’s proposed so far.

“IF” only he could have been more specific. “IF” only he coulda, shoulda, woulda.

By Political Foreskin

September 28, 2008 5:10 PM | Link to this

Palin 08: Nobody doesn’t like Sarah P.

By Dusty

September 28, 2008 5:34 PM | Link to this

TW@4:48

How would you know? Mommy tell you?

AmVet,4:48

Keep wandering around in dismal land. I said that the American people think more highly of Bush than of Congress. That is true.

So you rush in singing the usual blues about Bush this and Bush that like he was running for a third term. Relax, bub. History will appreciate Bush and HE IS NOT RUNNING FOR A THIRD TERM.

You mentioned that there have been polls for “every” President? Do tell. And how did Washington, Jefferson and Adams fare in their early POLLS? You DID say “every” president*.

By Political Foreskin

September 28, 2008 5:39 PM | Link to this

Obama 08: He’s right for what’s left of America.

Palin 08: Nobody doesn’t like Sarah P.

By Craig Spinks

September 28, 2008 5:40 PM | Link to this

The personal causes of the financial meltdown include, but are not limited to: greed, envy and deceit. Need I add more or do you get the picture?

By Political Foreskin

September 28, 2008 5:48 PM | Link to this

This bailout is the beginning of the end of the American Experiment. it’s so over.

Every last penny now is gone to Cheney-clones.

We’ll be rounded up by Blackwater Mercenaries soon and keeled to death. Those that are fit for slave labor will be spared.

They went after the joke-writers first during the Inquisition, the Third Reich, and the Patriot Act. Somehow, My ancestors and I managed to escape.

Does that mean I’m not funny?

No, really. Does it?

BTW: the reason nobody would explain clearly this bailout is because of the fifth amendment against self incrimination. That is, the felons involved are the only ones who understand what was done.

‘muff said.

Palin 08: Nobody doesn’t like Sarah P.

By AmVet

September 28, 2008 5:51 PM | Link to this

And I said you can’t see the forest from the trees.

I’m glad you’ve come to your senses, Dusty.

i have been saying for months that Bush’s poor job performance has already cost the neo-cons this election.

You do understand that, right?

You fake conservatives and fraud Christians have no Presidential candidate for the first time in nearly thirty years.

Though some of you tried like h&ll to get another lily-livered, party first dufus nominated.

You just have to settle for an aged, RINO, maverick, war-hero who likes to, and knows how to, work with Democrats and others when he sees the benefit to the country.

And Karl and the BushCos loathe him for it.

And you pretend his is one of you.

Tsk, tsk…

By ron

September 28, 2008 6:00 PM | Link to this

Wow!Ron takes a few minutes off and he becomes a racist and he votes for the Devil.Quite a transformation.

For the record:I would votenot for a man with Obama’a credentials if he were an albino named John Smith.

By Dusty

September 28, 2008 6:14 PM | Link to this

AmVet,5:51

Bush never lost an election, thank you. He is not bitter over the financial crisis. Just trying to keep it from something worse. Nobody is SURE about this one.

McCain is not going to lose this election. He suits me just fine and I look forward to his term with the delightful Sarah.

I didn’t settle for McCain. I was for him all the time. He is the best thing coming forward for America. It takes a tough man for tough problems. He knows how to handle them. Obama looks like he is ready to handle a basketball.

I am exceedingly proud of war heroes. I also like people who have a mind of their own. McCain has it. Obama has a mind of information he has memorized.

As to your constant dismal rejections of faith of any kind, I am so sorry. I was reading about Neanderthals in National Geographic yesterday. I don’t think they had any “religion”either. Low brow, flat heads, no chin. What do you look like, AmVet?

By Political Foreskin

September 28, 2008 6:19 PM | Link to this

Ron, is that really how you wish to be remembered? That’s your opinion? Albino? The opposite of black. I never knew punditry like that was possible.

At least Bookman isn’t trying to explain how this crisis became so unmanageable. I’ve yet to hear more than a third grade level narrative about the who what when and where. Of course that’s because anyone who was involved and could explain it is taking the fifth.

A trillion dollars, eh? The bailout is a trill. Iraq’s a trill. With a trill here, and a trill there, pretty soon you’re talkin’

A. Serious money.

B. A cuckoo clock

C. A marital aid

D. The terrorists win

E All of the above.

Question number 2: How many Gods do you see in your life?

A. One

B. Infinity

C. Zero

D. Allah the above.

If you get more than two right on this test, you’re qualified to figure the math for the bailout.

By catlady

September 29, 2008 8:16 AM | Link to this

I have to LOL at the last sentence in the article in the AJC on what the bailout means: But lawmakes did put in taxpayer protections, including one to require that taxpayer be repaid in full for loans that go bad.

Now, WHO exactly is going to repay the taxpayers?

Let EVERYONE live within their means. Not just the little guys like me with no loans, no mortgage, no IRA. The big pigs can eat from the same trough as us little guys.

I do NOT support the bailout. Not enough pain to be shared by wallstreet for their greed.

By jim d

September 29, 2008 8:40 AM | Link to this

cat,

I guess i’m having a bit of a problem understanding why we are starting at the top with this thing and leaving the little guy to sink or swim.

seems to me that instead of bailing out the big fish that we could buy up the morgages, re-negotiate the loans terms and interest rates allowing people to keep their homes—paying for them — fueling the economy and not costing us nearly as much. One would think the fed could buy these things up right now for about 50 cents on the dollar. BTW, didn’t they just buy into freddie and fanny? Hmm, we might even see a pay pack there quickly if they funneled the mortages back through them.

Oh well, guess I’ll just remain in a state of confusion as we watch the economy being flushed.!

By catlady

September 29, 2008 8:50 AM | Link to this

Amen, Bro jim, amen. Seems like to me (with my non-economist brain) that rewarding bad behavior is a bad idea. And I’d rather start with the big bad behavior by those who knew better, then attack the little bad behavior by those who should have known better.

We know the answer to every question/problem is the American middle class taxpayer.

By leonvang

September 29, 2008 9:15 AM | Link to this

Rubbish- Wooten read something other than your own columns and stop taking orders from Rove. Do you even know what a credit default swap or a traunch or a counterparty agreement? Bush through his cronies and base pumped up the mortgage and new home sale market so wall street AKA Paulson and his buddies could dream up exotix investments hidden completely from regulators and rake in huge heges or profits out of sight -literrally trillions of dollars in exposure. Why don’t you read about how Paulson and Goldman Sacks, his firm, engineered the bailout of AIG with our money because the two firms had too much at risk in this hidden market which has nothing to do with main street -mostly foreign money . And those foreigners are the ones panicking - not the Republican base you Rove, Hannity, Bimbaugh and Boortz love so dearly. And McCain - he is just as culpable as Bush for this mess. No wonder he said almost nothing at that meeting at the white house. Paulson and his buds just stole a trillion dollars from us to cover their hidden economy!

By John Vota

September 29, 2008 5:27 PM | Link to this

Jim—-What you fail to realize is that these private businesses have already been given the opportunity to salvage their businesses, but they’re holding out for a better price. Why settle for $0.50 on the dollar from a hedge fund or foreign sovereign wealth fund when the government might just give you the whole dollar, or something close to it? Every idiot knows the government overpays for EVERYTHING. And who is going to decide in this case what to pay? Ex-Goldman Sachs CEO Henry Paulson, who was part of creating the problem at Goldman and ignoring the problem at Treasury. And he still has hundreds of former partners on Wall Street who stand to gain through our intervention. Its classic Wall Street: Paulson has all the information and we have none, so he creates the fear needed for action to take place. Then he gets all the control and we get none, to make sure we don’t get too close to the real situation.

Fire Paulson, replace him with someone not partially responsible for our problems and not conflicted and we’ll get a real, workable solution.

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

Post a comment



Remember me?

You may use the following formatting:
Bold: **this text will be bolded** = this text will be bolded
Italic: *this text will be italic* = this text will be italic
Link: [text to be linked](http://www.ajc.com) = text to be linked



There will be a delay of up to 5 minutes before your comment appears.


*HTML not allowed in comments. Your e-mail address is required.

 

Kudzu.com: Mosquitos are breeding.  Ready for the bites?
Today's deal from DealSwarm.com
AJC Breaking News Updates