For general discussion and debate. Possible talking point: the financial crisis.
Lehman has filed bankruptcy, B of A has bought out Merrill, and stocks are collapsing. What else should the Federal Reserve do IF ANYTHING, and when does this crisis finally end?
Consider that oil is plummeting this morning -- down to about $95 -- as is wholesale gasoline. As the commodities bubble has clearly burst, might the Fed have more room now to ease monetary policy, bring down interest rates, and allow the remaining healthy banks to improve their profit margins which will increase lending down the road?
How do you see this all washing out?
Comments Policy
Pretty Scary......
September 15, 2008 - 09:21 ET by shawn228When 2 companies with the financial strenghth of these two can go down. I almost bought some Lehman brother stock on Friday, but decided to buy WAMU instead, because of bargain prices. Hope they don't go down as well
Real life video games are cool
WaMu
September 15, 2008 - 12:14 ET by Secret ConservativeBetter watch that stock carefully. They are on their way down the commode...
Financial Crisis
September 15, 2008 - 09:22 ET by Dr_LibertyAaaaahhhhhhh, eeeeeeek, aaaaaahhh!!!!
Shriek! Waaaaahhh!
<insert witty signature here>
Financial market turmoil is
September 15, 2008 - 09:23 ET by dboFinancial market turmoil is just one more reason to not vote for Obama. Do you want a big spending community organizer to sort out this mess?
I don't want...
September 15, 2008 - 09:42 ET by Dr_Libertya community organizer to sort this out. Nor do I want the president to sort this out. Obama, McCain or otherwise. And Congress? No way!
Leave it to us civilians, thank you.
P.S. dbo, this isn't a critique of you, just a general statement.
<insert witty signature here>
Ummm...pssst....
September 15, 2008 - 09:53 ET by Ubercon...this little crisis isn't happening under a Democrat Admin. The Big Spender is in the White House as we speak...just the facts.
Ubercon
Ummmmm.... Presidents only
September 15, 2008 - 10:11 ET by BDUmmmmm.... Presidents only PROPOSE.
Congress DISPOSES.
While the president could veto every budget presented to him for eight years, the war would not be fought, nor important actions taken.
BD you are correct...
September 15, 2008 - 10:44 ET by Ubercon...but perception is reality. If the economy was doing well with a Democrat Congress, The news would be about how Bush has succeeded. Sure, we could go round and round about who does what...and I will concede the points to you for each well thought out point. The problem is in the perception. The Campaigns run on perception of what the candidates will be able to do and correct the ills of the past Admin. Sure, they'll bash Congress for the lack of pushing the correct legislation as it wallows in constant high ratings of job disapproval. We know the current Senate can only pass the legislation with 60+ votes thereby allowing the minority to be more powerful by blocking it. As you well know, the current Congress has only been in power for less than two years...my guess it will be much different after the election. So, lay the blame on the Democrats for the missteps, mistakes, and overall lack of oversight for the current problems in the economy. The GOP will need more than lipstick to cover up the past 8 years. The change you deserve...brought to you by the GOP.
Ubercon
"If the economy was doing
September 15, 2008 - 13:33 ET by ckc1227"If the economy was doing well with a Democrat Congress, The news would be about how Bush has succeeded."
The economy has done well under at least half of Bush's 8 years. Still waiting for all those news stories touting how Bush succeeded.
Instead, all we hear is how it's Bush's fault that private businesses have made poor business decisions. I never realized it was his responsibility to run all the private businesses in this country.
When The Economy Is Strong/Weak Libs Raise Spending
September 15, 2008 - 14:41 ET by JDWSo, lay the blame on the Democrats for the missteps, mistakes, and
overall lack of oversight for the current problems in the economy. The
GOP will need more than lipstick to cover up the past 8 years. The
change you deserve...brought to you by the GOP.
How old are Freddie/Fannie? How long has it been since America has built a new refinery? When was the last time we started a new drilling operation on the east or west coast coast? Why aren't we pumping in ANWR?
The DNC praised Bubba during his stadium speech, applauding his economic achievements. The Obama/Biden team promised to pursue the same. Change?
What were the real GDP numbers?
JDW
DAILY WAVE
Perhaps
September 15, 2008 - 09:25 ET by BlondeIf there had been no bailout of Bear Stearns, the markets would have already self corrected and we'd have been through the worst of it by now.
This isn't going to be pretty.
David Gregory, do you know which damn network you lie for? ~ Uncle Jimbo, @Blackfive
What is truly appalling...
September 15, 2008 - 09:36 ET by Prester John....about this whole mess, is that if Fannie, Freddie, Lehman et al had taken the time to send some reasonably experienced and observant analysts into Florida, suburban DC, Nevada, California and Texas, they would've seen the reality of what was going on in the real estate market.
No doc mortgages, couples making less than $100k buying $500k homes with nothing down, panic buying (at least in the DC area) by people who were scared the boom would continue and that they'd never be able to buy a house, people accepting mortgages that had absolutely no understanding of etc.
But no, the heads of these companies who are supposed to be so experienced, so smart, raking in 10s of millions of dollars were unable or unwilling to see what was happening and unwilling to understand what was likely to happen.
Hell, I could've lost half the money those guys did and would glady have accepted half their pay.
A blind man could've seen this coming back in 2004.
Tulips, tech stocks, real estate--the investment may change over time but human nature doesn't.
Oh well.
That's because blind men
September 15, 2008 - 10:01 ET by dscottThat's because blind men can see more than Democrat cronies who were running Fannie Mae and Freddie Mac up to that time. There is none so blind as those who refuse to see. Their ideological blinders was the Equality of Outcome policy they implimented to push home ownership to people who simply weren't capable of being home owners. The fact is some people are only able to be renters due to their economic background and lifestyle.
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
Freddie/Fannie
September 15, 2008 - 11:21 ET by JDWThe housing market was going strong until the government institutions eliminated risk.
JDW
DAILY WAVE
Being forced to loan money
September 15, 2008 - 11:37 ET by BDBeing forced to loan money to those who a creditor knows are poor risks in order to be PC is always a disaster.
Full Perspective
September 15, 2008 - 11:49 ET by JDWHow many people are able to understand the devaluation of the dollar as a result of government debt? How many realize more government control?
JDW
DAILY WAVE
JDW:
September 15, 2008 - 11:48 ET by j. frank wilsonWhen did "government institutions eliminated risk?"
R1
September 15, 2008 - 12:06 ET by JDWXX
JDW
DAILY WAVE
By eliminating the
September 15, 2008 - 12:19 ET by dscottBy eliminating the requirement to be a credit worthy home owner.
It shouldn't have come as a surprise when a renter buys a home on overly generous credit terms and then finds themselves in trouble, they are going to walk and default on the mortgage. Why is that? In their experience, when a renter found they couldn't continue to pay the rent, they moved out and doubled up with someone else until they found a cheaper place. I call it "renters mentality". A renter with no history of home ownership and NO vested interest (no downpayment), i.e. nothing to lose (risk free), purchases a house, they don't see their responsibility to 1st be able to afford the place and don't care if they can't. If you have to put your own money on the line and face possibly loosing it, you are far more careful as to your decisions. As far as they are concerned, they are moving out of an apartment and see the Bank (FMs) as the landlord. In their minds, bank has the property and it's their problem to find another buyer.
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
I Titled It As 'Fannie/Freddie'
September 15, 2008 - 12:28 ET by JDWI was not certain if he was frankly inquiring or simply antagonizing.
Banks today fear risk of loans.
The brokerage fears collapse.
Baby boomers fear no Social Security.
When one removes the risk, one takes away the responsibility in running the market.
JDW
DAILY WAVE
They made their money.
September 15, 2008 - 10:05 ET by UberconWhy gripe about people making money? It's a business not a charity. They raked in millions with no oversight from those you elected. Now you're crying about greedy investors not able to reap the rewards of the CEO's? Being duped then realizing you've been duped should make you wonder about those you elected. Glad to see people waking up...though it's too late.
Conservative socialism on display...Let's bail out the banks and give the money back to the banks. I guess Bush was right this is becoming an ownership society...the Gov't by the people is about to own everybody? Thanks,George.
Where are all the free market types in this crisis? Doesn't this rub you raw to see this economy tanking and banks being bailed out?
Ubercon
Oh please, you're blaming
September 15, 2008 - 10:22 ET by dscottOh please, you're blaming the banks for the incompetence of the Democrat's Equality of Outcome policy? Who do you think set the rules for granting mortgages to be bought? Fannie Mae and Freddie Mac. The banks and other financial institutions based their CDOs on mortgages of these two institutions. Who ran these institutions until recently. CLINTOON croonies!
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
dscott:
September 15, 2008 - 11:03 ET by j. frank wilsonCDOs were not comprised of Fannie and Freddie mortgages. You're mixing up two distinct types of residential mortgages. Not apples and oranges - more like grapes and watermelons.
The sub-prime, and the neg-am option ARM's, did not confirm to Fannie and Freddie underwriting guidelines. That's why the whole market grew to package these mortgages up and sell them overseas.
The Bush Administration had the opportunity to actually supervise Freddie and Fannie. They instituted their "reforms" in 2003 - Republican in the White House, Republicans running both Houses of Congress. Then there was the Oxley-Sorbanes accounting reforms - didn't do a bit of good for Fannie's and Freddie's abuses.
Deregulation? The Bush Administration byword. The lack of adult supervision across the board can directly be traced to Bush Admnistration policies.
But, hey - what's to worry about? Vote for McCain-Palin and we can look forward to four more years of all this!
Wrong, wrong and
September 15, 2008 - 11:42 ET by dscottWrong, wrong and wrong.
Together these two companies amount to about 70% or so of the total secondary market for home mortgages in which mortgages are bought from the originating lenders and then packaged into tranches which are sold to investors in what is known as a Collateralized Debt Obligation (CDO).
Fannie Mae and Freddic Mac (FMs) are not subject to sarbanes-oxley because it is a quasi-government institution.
It was the prosecutors under the Bush Administration that went after the Clintoon cronies running the FMs
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
dscott:
September 15, 2008 - 13:00 ET by j. frank wilsonWhere did you find that link? That's some funny stuff - wildly incorrect, of course, on many levels - but hilarious, none the less. "Packaged into tranches" - that's writing by someone trying to throw around a term or two as if they know what they were writing about.
GSE's or not - and not would be correct at this point - corporations with shares traded on public exchanges must follow the law. They also need to be reviewed, audited, and examined (there are differences between those three, by the way) - and regulated. The Bush Admnistration flopped on these.
Thanks for the laugh!
they're going to call it BDS.
September 15, 2008 - 11:47 ET by UberconJ. Frank Wilson,
They will never own up to their own faults for electing Bush and how he allowed his masters to empty the coiffers. Nope, blame, blame, blame. They're perfect as long as they say they are. No Republican created this mess...much like the child with crumbs on his face and the broken cookie jar on the floor. As the child says it wasn't his fault that the cookie jar was so close to his hand and the edge of the counter. He decided to eat the cookies before his baby brother had access to them...what a joke! Spin it boys!
Ubercon
They raked in millions with no oversight from those you elected.
September 15, 2008 - 10:26 ET by Prester JohnThe last time I check the Dems were in charge of Congress with 7 of the top 8 recipients of money from FNMA being Dems.
1. Dodd D-CT $133,900
2. Kerry D-MA $111,000
3. Obama D-IL $105,849
4. Clinton D-NY $75,550
5. Kanjorski D-PA $65,500
6. Bennett R-UT $61,499
7. Johnson, D-SD $61,000
8. Conrad D-ND $58,991
http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
You remember Dodd and Conrad don't you? They were the ones who somehow didn't realize they were getting sweetheart mortgages while being members of the Senate committees that oversee the financial industries.
Also, "In the 2008 election cycle, Lehman political action committees, employees and their immediate family members have given $1.9 million to all federal candidates, said the center, which posts its campaign finance data at www.opensecrets.org....Lehman donors have sent 64 percent of their 2008 donations to Democrats and 36 percent to Republicans, the center said."
http://www.reuters.com/article/idINN1127961720080911?sp=true
I have nothing against people making money, I do have something against such supposedly smart people being so short-sighted and stupid as to not be aware of what is going on around them.
Prester John:
September 15, 2008 - 11:09 ET by j. frank wilsonWhy do you only list 2008 contributions? To make the Democratic Party look bad? What major Fannie/Freddie legistation was passed this year?
The same website has contributions 1989 - 2008 - and the top 25 are just about 50/50.
Why don't you tell the whole story?
Spin, spin, spin...
September 15, 2008 - 11:51 ET by UberconIt's easier to blame the present and overlook the past as they dress up the future. Lipstick and a dress on the pig of the past 8 years. They need to start owning up to the failures and confess their sins.What am I saying they lost credibility a llllooonnnngggg time ago. Chickens coming to roost!
Ubercon
Um...
September 15, 2008 - 12:08 ET by Roger the ShrubberActually, those numbers ARE from 1989-2008, not just from 2008.
Oh, and 16 Democrat(ic)s to 9 Republicans is just a smidge off of a 50/50 split.
So?
September 15, 2008 - 12:25 ET by UberconRog,
The MSM will report it minus the (D) and make sure the (R) is shown prominently. LOL!
How many indicted (R)'s to (D)'s? 50/50 split?
If it's legal...who gives a rat's ass? It's not as if any of them are the least bit ethical...perception is reality!
Ubercon
Well, since you are
September 15, 2008 - 13:18 ET by Roger the ShrubberWell, since you are sticking your nose in, allow me to smack it.
I merely pointed out two of Frankie's lame points as being incorrect (which they were). Legality and indictments were not even a part of my statement. Are you getting your responses mixed up?
Oh Rog...
September 15, 2008 - 13:39 ET by UberconDon't smack my nose...use violence appropriately. Smack my fanny with your lips. Who cares? The spin is what matters. You want to believe lies by saying their truths and then proceed to tell us we should believe the lying liars who are to blame for this mess. As the GOP said, "The Change you deserve!"...free comedy. You're much better with the Shrub Report than trying to be taken seriously. Play to your strong points- fun-lovingly, humorous, and not to be taken seriously. Turn that frown upside down!
Ubercon
Snore...
September 15, 2008 - 13:55 ET by Roger the ShrubberWow, you managed to lull most of this board to sleep with your ramblings, Ubie. Your apology is accepted.
He's a "conservative" you
September 15, 2008 - 13:50 ET by Jack BauerHe's a "conservative" you know!
He's not just a
September 15, 2008 - 13:54 ET by Roger the ShrubberHe's not just a conservative, Jackson, but an UBER-conservative!
Damn, where are my umlats?
Bush Boy:
September 15, 2008 - 13:30 ET by j. frank wilsonPJ labeled that table as 2008. Here's the roster of all lawmakers (13 Democrats and 12 Republicans - about 50/50, just as I said) who received contributions 1989-2008 - not the edited table previously referenced:
http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
From the same site:
Both companies have poured money into lobbying and campaign contributions to federal candidates, parties and committees as a general tactic, but they've also directed those contributions strategically. In the 2006 election cycle, Fannie Mae was giving 53 percent of its total $1.3 million in contributions to Republicans, who controlled Congress at that time. This cycle, with Democrats in control, they've reversed course, giving the party 56 percent of their total $1.1 million in contributions. Similarly, Freddie Mac has given 53 percent of its $555,700 in contributions to Democrats this cycle, compared to the 44 percent it gave during 2006.
Where's McCain?
September 15, 2008 - 13:41 ET by UberconJ.Frank Wilson,
Did you notice the McCain omission? Not pretty! He raked in more than Dodd! Ouch!
Ubercon
Frankie, you are still
September 15, 2008 - 14:04 ET by Roger the ShrubberFrankie, you are still wrong. Prester John never stated his data was for 2008 only, and you are not using the same link of data he did. The link he supplied is different.
Are you this much of a baby (answer=yes!) that you have to twist the truth like this? I pointed out two lies that you stated, and you are making yourself look even more foolish by lying more to cover yourself?
Oh, and the next time you cry like a little girl (just like today) about being called a douchebag (which you are the majority of the time), remember that when you toss out the even-lame-back-in-2004 "Bush Boy" line (which you have used on at least two people here today). A liar AND a hypocrite? Oh, my!
Bush Boy:
September 15, 2008 - 14:30 ET by j. frank wilsonYes, two links. Just as I said. Same site. I thought a complete list was a better source.
Lies? Apparently you confuse me with Sen. McCain's campaign.
Yawn.
September 15, 2008 - 17:35 ET by Roger the ShrubberFrankie, you posted: Why do you only list 2008 contributions?
I said you are wrong.
You were wrong.
Deal with it, Pumpkin.
You are truly the Fred Berry of verbal gymnastics.
shrubbo -- yes, just a tad.
September 15, 2008 - 13:47 ET by Jack Bauershrubbo -- yes, just a tad. That would be 64% (D) to 36% (R).
But -- in the liberal mind that's about 50/50 I suppose. It's Obamath -- defies gravity!
Where'd he go?
September 15, 2008 - 09:44 ET by DontFeedTheTrollsToo bad our resident hard currency guy, who shall remain unnamed, got his peepee smacked and hasn't been seen 'round these parts lately. He may have had some (long winded, with loads of links) insight into this.
LOL
D
Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.
DFTT,
September 15, 2008 - 13:00 ET by Indiana JoeIf you mean who I think you mean, yeah, I was kind of wondering about that too. Hadn't seen him around lately, know what the story is?
"... smells like... victory." - Robert Duvall
IJ,
September 15, 2008 - 13:45 ET by MassConservTo summarize...
One of the NB editors requested that he stop posting the same links on all the "money" threads.
He felt singled out and decided to take his ball and go home.
It's a self-exile.
Rasmussen Poll
September 15, 2008 - 09:44 ET by IgnatzJFahrquarStill showing McC 2 points up (was 3 over weekend). I know polls are beasts all unto themselves but they can give a general "flavor" to the climate. I guess Hurricane Ike trumped Chucky G's hatchet job on Sarah.
And speaking of Ike, I see Geraldo wasn't washed out to sea ... almost though (the firemen laughing at that a$$ was priceless). I was waiting for a 100mph 2x4 to come sailing into the shot of him on the seawall.
"All generalizations are false, including this one.” Mark Twain
That was funny, to bad the
September 15, 2008 - 11:42 ET by general companyThat was funny, to bad the camera guy wasnt on him the whole time. Geraldo getting washed out. : ]
"Television is a freak show" Bernie Goldberg
Terrorism: Obama Wavers Again
September 15, 2008 - 10:06 ET by JDWObama is interviewed on 60 Minutes in February of 2008. "Out of Iraq now. I hear you. I'm sympathetic. But I didn't know a bunch of stuff until I got here. The Bush administration had not been forthcoming with us. As you know, they tried to hide a bunch of things. I hope that we can leave soon. My hope is that we will be able to get out of there as soon as possible, but I have assessed the situation, and I am telling you tonight that this is not the best or the right time to do it. But I hope that I will be able to revise this policy in coming months."
Politically the liberals are destroying themselves over the issue. Why support terrorism?
NYP: While campaigning in public for a speedy withdrawal of US troops from Iraq, Sen. Barack Obama has tried in private to persuade Iraqi leaders to delay an agreement on a draw-down of the American military presence. ...
Obama is again on the other side of his perspective? Can we count how often this occurs? Which leaders change their minds at will? And who is Obama to be stepping over government jurisdiction?
JDW
DAILY WAVE
Ok folks, it's time for
September 15, 2008 - 10:17 ET by dscottOk folks, it's time for some ugly truth telling here. After checking out the government current receipts and expenditures for the last reported quarter, we are in a world of hurt. $816 billion dollar projected deficit for FY 2008!!!!! The deficit rose by $250 billion from the last qtr. Treasury receipts dropped almost by $200 billion and social insurance expenses (includes unemployment) went up by $315 billion to $699 billion on line 29. The big hit on income was entirely on line 3 Personal current taxes. http://www.bea.gov/bea/dn/nipaweb/TableView.asp?SelectedTable=84&FirstYear=2004&LastYear=2006&Freq=Qtr&3Place=Y
Now why do you supposed the MSM has been so quiet about this since it was published on Aug 28th??
Something has to give and quickly. If the price of oil doesn't drop dramatically, the dollar is going to plunge in value and interest rates are going to soar (the Fed will not be able to do anything about that). The economy has clearly passed the tipping point of oil price increases being adsorbed and is outstripping all offsetting productivity gains. There is only one bonified stimulus package that will rescue the economy. We need to turn up the heat on the Dems no drill position. Without the price of oil dropping to 2006 levels or less there will be a real recession not the faux one continually proclaimed for the last 6 years by the MSM.
Everyone email your congress critters and tell the stupid idiots to stop meddling with the country's energy supplies and remove all impediments for drilling for oil and natural gas. DRILL BABY DRILL!!! Demand all current restrictions on oil shale production be lifted immediately. Demand an immediate end to the ethanol mandates and subsidies, it's a major drain on the US Treasury.
Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.
Obama wanted to delay Iragi withdraw
September 15, 2008 - 10:36 ET by ricklailI just ran across this story . Why hasn't it made it on Fox yet? I know the MSM won't touch it.
If this is true then it would be at least a violation of the Logan Act if not treason.
If pro is the opposite of con what is the opposite of progress? Congress!
»→ ricklail
September 15, 2008 - 10:36 ET by Cool ArrowWe just found it on Drudge earlier. Let's just hope if it's true, it has corroboration.
"Us white folk will take care of you" - Barbara Walters
Let's just hope if it's
September 15, 2008 - 10:56 ET by general companyLet's just hope if it's true, it has corroboration.
Since when do the msm need corroboration, if this was about a Repub it would be puplished as fact.
But you are right, corroboration would be nice, but I doubt if you will here anything from our military commanders. And the msm isnt going to listen to any Iraqi's
"Television is a freak show" Bernie Goldberg
McCain needs to make an
September 15, 2008 - 10:38 ET by Gat New YorkMcCain needs to make an issue of this.
I was also concerned why Obama's advisor Malley was caught talking with Hamas.
Gat
September 15, 2008 - 10:50 ET by ricklailI just read a SCOTUS decsion in US vs Curtis-Wright Exports where the court ruled that only the POTUS or his/her duly appointed rep could negociate with a foreign country. The Logan Act seemed to give Congresscriters some leeway but the court decsion make it clear.
If pro is the opposite of con what is the opposite of progress? Congress!
What else is new?
September 15, 2008 - 10:45 ET by Prester JohnKennedy having a back channel to the Kremlin back in the 80s.
Dick Turban calling our guards at Gitmo Nazis,
Harry Reid declaring the war in Iraq lost etc.
Just another in a long line of Dems stabbing their country in the back.
Powerline has a good take on this
September 15, 2008 - 13:14 ET by Prester John"This is shocking, although, coming from Obama, not surprising. It's not just that he has tried, in private, to achieve the exact opposite result from the one he has advocated in public. Worse, Obama has in effect tried to conduct his own foreign policy as a President-in-waiting, thereby undermining the actual foreign policy of the United States.
For Obama to engage in this kind of politically-motivated backstabbing of the United States government is deeply dishonorable. Moreover, as Taheri notes, Obama has a conflict of interest here: the United States wants our efforts in Iraq to succeed, but Obama wants--needs--for them to fail.
So, if what Taheri says is right, Obama is carrying out his own foreign policy, in opposition not only to his own stated position on Iraq, but in opposition to the foreign policy of the United States, with a view toward bringing about failure, not success, in Iraq. Nice."
http://www.powerlineblog.com/
Now then, how long it will take for the MSM and cable networks to pick this up? Rush is talking about it right now.
Um, waving hand....
September 15, 2008 - 13:38 ET by BlondeThis has set the bells to clanging in my head.
During the primaries, didn't Obama publicly say one thing about Nafta while privately communicating to the Canadian government that he was doing it for campaign purposes only, no worries?
This guy is really starting to scare me. Well, actually what scares me is that so many people actually believe his smoke and mirrors.
David Gregory, do you know which damn network you lie for? ~ Uncle Jimbo, @Blackfive
Prester... I too read
September 15, 2008 - 13:46 ET by bigtimerPrester...
I too read about this early this morning on RCP...
I thought there may be a blog post about this outrage somewhere here today...how the hell dare Obama...who he thinks he is is beyond reason, I am glad he is going down in flames.
I do hope someone does a blog spot about this....
If not maybe it would be a good place for a forum thread.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Another Bad Call from THE CHOSEN ONE
September 15, 2008 - 10:35 ET by Gat New YorkObama called this: "the most serious financial crisis since the Great Depression"
Obama needs a history lesson.
He then went on to point fingers and voiced no solutions.
Conversely, McCain did not hyperventilate and made a statement that actually offered solutions.
That is the difference.
Again, Obama called this "the most serious financial crisis since the Great Depression." Not only is this blatantly ignorant but in comparison to the Wall Street crash under Clinton this is a Sunday picnic.
The last I saw, George Bush does not run any Wall Street Company nor does any elected official. In a free market society a company can choose to run its company how it sees fit and the shareholders can hold these people accountable. Lehman Brothers like certain other financial institutions were not very responsible in their practices. The same with Merrill Lynch. This is not the first time.
These and other investment firms should have been all investigated 8 years ago after intentionally peddling false analysis of internet and tech industries that led to the NASDAQ crash and a string of major corporate scandals that transpired during the Clinton administration.
Back then people lost their 401Ks, pensions, stock savings with the rash of bankruptcies of companies. Investments in those companies were the result of these very investment companies intentionally misleading investors.
It is worth noting there is a trend of commercial banks that have acquired investment firms in the past and continue to do so. Merrill Lynch being acquired by Bank of America is not different than Morgan Stanley being acquired by Chase, or Saloman Smith Barney by Citibank. It is also worth noting that there will be a long steady consolidation of banks in this country to the point where there will be probably half as many as there are now. It’s called progress.
Obama’s response to this was highly irresponsible and one more reason this job is way “over (his) pay grade.”
Politics
September 15, 2008 - 10:45 ET by iveseenitallOur "representatives" have been representing no one but themselves for years. Look at the Charlie Rangel affair. And how about that Chris Dodd! Democrats and Republicans are up to their ears in corruption. But we are all to blame for our own apathy. Obama will bring more of the same. McCain has nothing to lose by attempting to clean things up. I believe he truly wants change. Obama is for Obama. He's as corrupt as the rest of them. And he may be around much longer than McCain. Rome is falling. Sad.
NEVER,NEVER trust a "liberal"
»→ Charlie Rangel
September 15, 2008 - 10:46 ET by Cool ArrowGlenn Beck opined last week, If Obama is serious about "change" he would call for the immediate removal of Cheater Charlie Rangel from the Ways and Means Chairmanship.
Glenn's right. But don't worry, Obama is nothing if not Chicago Machine.
"Us white folk will take care of you" - Barbara Walters
Obama
September 15, 2008 - 10:58 ET by iveseenitallRight. Obama will not "change" Washington any more than he "changed" Chicago. Maybe McCain won't change things much either. But I believe he will try. Talk about "more of the same"; that'll be Barry Obama's Washington when it comes to corruption.
NEVER,NEVER trust a "liberal"
Sen. McCain has had 30 years
September 15, 2008 - 13:08 ET by j. frank wilsonto change things. Most of the time he's either just talked and then backed down, or passed legislation he now doesn't support.
If you are happy with the previous eight years, vote for McCain-Palin. And look forward to four more years of the same.
If you are interested in actually seeing positive change, then vote for Obama-Biden.
jfw
September 15, 2008 - 13:30 ET by UphillWhat kind of positive change do you mean?
My tax rate would go up -
September 15, 2008 - 15:28 ET by HermanoMy tax rate would go up - that's in the positive direction as far as Obama and j. frank are concerned. It is a negative for me.
The Newsbusters Comments Crew: Saving the Environment - One Ribeye at a Time! h/t Dr_Liberty
Uphill, j.frank won't answer that question.
September 15, 2008 - 23:00 ET by R D HelmAs he hasn't a clue about the answer.
All his shallow little mind can wrap itself around is "change." The actuall direction of that change is irrelevant to mindless Obamatons like j.frank.
-Dave.
Socialism and appeasement
September 15, 2008 - 22:45 ET by UnsanePositive change?
Like a government whose aim is to punish and steal from its most successful, productive citizens?
Like a government that has a foreign policy that only consists of TALKING and appeasing, and otherwise being as whiny as possible?
Can you elaborate on this "positive change"? Bet you won't, because that will mean you exposing yourself as a Socialist.
Whoever casts a vote for Obama-Biden is nothing more than a common thief. Whoever fails to vote against them is nothing more than a moral coward.
Bush Boy:
September 15, 2008 - 13:25 ET by j. frank wilsonPlease see the above.
McCain has had 30 years . .
September 15, 2008 - 22:52 ET by Free StinkerMcCain has had 30 years . . .LOL
Of course you would think 1 Senator can outvote the other 99. You clearly have no idea how the Federal Government Works.
Governor Palin - She is the Real Deal !
j.frank, you are truly too stupid to be posting here.
September 15, 2008 - 23:02 ET by R D HelmPlease return to the playground, as this class is truly too advanced for you.
-Dave.
R.D. Helm:
September 16, 2008 - 12:22 ET by j. frank wilsonIf this post doesn't prove that you are animated by extreme hatred, contempt and total negativity, I don't know what does...
Obama Girl
September 16, 2008 - 12:31 ET by Roger the ShrubberDid RD write something in that post that wasn't true?
that's news to us.
Even better
September 16, 2008 - 22:52 ET by UnsaneEven better, Roger, even better. I like being quoted and all, but you would think that some of us would use proper attribution. To wit, read below:
Sinking ship???
September 16, 2008 - 11:35 ET by Unsane
If this is the sinking ship, then what are you still doing here?
If this post doesn't prove that you are animated by extreme hatred, contempt and total negativity, I don't know what does...
Well, imitation is the sincerest form of flattery I suppose...
Whoever casts a vote for Obama-Biden is nothing more than a common thief. Whoever fails to vote against them is nothing more than a moral coward.
Interesting...
September 17, 2008 - 06:28 ET by Roger the ShrubberSo Frankie is the Joe Biden of Newsbusters?
I like it!
September 17, 2008 - 18:54 ET by UnsaneIndeed! But at least Biden had the sense to swipe words from fellow Leftists. frank crossed the aisle to do so. Sad, isn't it? He just can't help but showcase how bankrupt he is...
Whoever casts a vote for Obama-Biden is nothing more than a common thief. Whoever fails to vote against them is nothing more than a moral coward.
Bush Boy:
September 18, 2008 - 15:09 ET by j. frank wilsonThere's already an "Obama Girl" - and she's much more famous than I am. Better looking, too.
It is interesting that you consider "Girl" to be an insult. Says a great deal about you and your ilk...
Still ridgingt he short bus?
September 18, 2008 - 16:30 ET by Roger the ShrubberActually, the "Obama" part is the insult, Pumpkin.
Try to keep up, will ya?
Busted
September 16, 2008 - 22:43 ET by UnsanePlagiarize much, frank?
You are so intellectually bankrupt that you can't even come up with your own material???
Whoever casts a vote for Obama-Biden is nothing more than a common thief. Whoever fails to vote against them is nothing more than a moral coward.
Unsane:
September 18, 2008 - 14:58 ET by j. frank wilsonYou really don't have a sense of humor, do you?
Gee Bucky, have you been looking at the latest numbers from New Mexico? From Wisconsin? Minnestoa? How about Indiana and North Carolina (North Carolina?)? Or Michigan? Even Ohio. In Richard Nixon's words, it always comes down to Ohio. While the Republicans have tried to drain their cesspool of Ohio politics, it's very possible Sen. Obama can will without Ohio - that would be an historical victory. Now he might even take Ohio, as well...
Frank, Obama will never carry NC
September 18, 2008 - 15:20 ET by jefflebowskiEven with the tide of unwashed liberal yankee transplants sullying the Tar Heel state, your boy Obama is going down double digits.
I can't wait for Mr. Teleprompter to hit the debates....umm...er....above..errr...mmmm...my...paygrade.
Jeff Lebowski
www.angrywhitedude.c...
The debates will show the real McCoy...
September 18, 2008 - 19:37 ET by Uberconummm...eeerrr...I meant the real McCain...
Obama may surprise everyone...if he makes McCain mad...I can see Obama using Camron's line with O'Reilly, "you mad, you mad..."
If McCain gets upset...Game over. Period.
Where's Carly?
Ubercon