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Thursday: Fiasco

“There was an air of everyone sort of reaching beyond their own grasp”

Several years ago, This American Life presented one of the funniest pieces in it’s repetoire.  It was the story of a amateur theatre director in a small college town and her great ambitions for a spectacular production of Peter Pan.  All did not go as well but the show *did* go on, leading to the hillarious episode, Fiasco.

“Great chaos and heart-wrenching failure are more likely to occur when great ambition comes into play, when plans are big, expectations are great, hopes at their highest.”

I was thinking of this piece last night as Darragh, Sheri and I were talking on the Lions Share while at the same time, bulletin after bulletin of breaking news showed just how the expertly the Republicans were yanking Obama’s chain.  When Darragh read that Bush himself was calling Obama back to Washington, we all broke into laughter of disbelief at the absurdity of the situation.

“One of the criteria for greatness is that everyone is just about to reach just beyond theor grasp because that is when greatness can occur…. And maybe greatness could have occured.”

My friends, we are witnessing a fiasco.  The Obama campaign is completely out of its depth no less than that overly ambitious theatre director.  It is running the wrong campaign, Obama is horribly miscast and the whole campaign apparatus is coming apart at the seams.  Meanwhile, the GOP keeps boxing the hapless Obama into corners, first with Sarah Palin and now with the financial bailout.  He seems surprised, unprepared and unable tp cope or get himself out of the trap.  And the blows are coming in quick succession.  First, McCain suspends his campaign, Bush gives a speech, McCain urges Obama to reschedule the debates and offers one option after another, finally, Bush tells him to come home like some rebellious teenager on a school night.

“At some point the audience turned and said, “Oh, I realize what’s going on here.  This is a fiasco.””

“Yeah, this is a fiasco.  What’s really interesting about a fiasco is that once it starts to tumble down, the audience wants to push it along… Now, the reason they’re there is to chronicle these embarrassments.”

It doesn’t look good for the transcendent future leader of the free world.  The GOP has mastered the art of war, knows its enemies, uses the element of surprise and keeps the opponent off guard with a volley of actions, all of which lead Obama to look overwhelmed.  Timing will kill you.  If you don’t have time to recover and find your bearings, you quickly lose any advantage.  But Obama should have seen it coming.  The GOP are predators.  They have a single minded determination to seize power and never let it go.  Obama should have been prepared.  He should have done his homework on the economy.  He should have anticipated an attack as soon as early voting commenced and any hope of sending in a relief pitcher was nearly extinguished.

But he’s too busy shaking hands and praying with the faith voters, figuring out how to pander to the ones that haven’t flocked to Palin.  He’s so caught up in his own transcendence, his day dreams of his own magnificence, that he is failing in his ability to direct the production.  What happened yesterday was fascinating, both amusing and humiliating.   He never saw it coming.

“The fiasco itself is an altered state.  All of the normal rules are off…. The reason you go to the theatre, to see a great production, is to be, I think the word used to be, transported.  The idea being that you would be lifted away from your animal nature to a higher more spiritual realm… Of course, what happens here is the exact opposite.”

The laughter is completely inappropriate.  This production is a drama and the scenario is serious.  But what we are ending up with is a farce.  And with our economic livelihood’s on the line, that’s no laughing matter.

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164 Responses

  1. Yeah, I’m certainly not laughing.

    Fiasco, indeed.

  2. Fiasco and George is leading the way. McCain may be the only adult in the room. I’m not able to emigrate so I’ll be going along for the downhill slide.

    George is warning of a recession if we don’t act now. We’re already in a recession, George. Get your “the sky is falling” terms right. “Depression, ” it’s “depression.” Something akin to what I’ve been fighting ever since you were selected.

  3. Total farce.

    Unfortunately, it appears Americans like farces, if recent polls are to be believed.

  4. O.T. Oops:

    NBC’s Russert says he made `dumb’ statement

    12 hours ago

    NEW YORK (AP) — NBC News reporter Luke Russert said he made a “dumb” misstatement on the “Today” show Wednesday when he suggested that smart people supported Barack Obama for president.

    Almost immediately, Russert took a hazing in the Web world. Wrote Tim Graham of the conservative Media Research Center on the NewsBusters blog: “Out of the mouths of young, untrained reporters come the unspoken beliefs of the liberal media.”

    Russert, son of the late “Meet the Press” host Tim Russert, is covering youth issues for NBC News. He filed a report for “Today” about campaign activity at the University of Virginia, and talked about it live afterward with Matt Lauer.

    Russert, 23, said about the university: “The smartest kids in the state go there so it is leaning a little bit toward Obama.”

    Oops. Now he’s either implied that students at other colleges in Virginia aren’t as smart as those at the University of Virginia or that you have to be dumb not to support Obama. Or both……………………

  5. Chuck Todd is actually defending McCain’s decision. He has told everyone for the last 24 hours that the Republican’s were not going to sign off on the deal.

  6. Apparently, Senator Obama does not understand that in the general election he will have to earn the votes. They will not be handed to him. He does not have the inept DNC able to cover for him.

  7. Beth C. Taylor, on September 25th, 2008 at 7:41 am Said:

    “Apparently, Senator Obama does not understand that in the general election he will have to earn the votes. They will not be handed to him. He does not have the inept DNC able to cover for him.”

    ****************

    You think he’s hit his wall then? A “this is not Chicago” moment?

  8. Like father like son …………………………

    Hey, Luke, my son graduated from Film School at USC, 270 students a year get selected for the program. He and his friends are Hillary supporters. I will put his intelligence, quality of education and ability to access his knowledge and skills for a useful purpose up against those smart students and raise you a billion ………………………………………….

    I graduated from state supported schools. I will put my intelligence, quality of education and ability to access my knowledge for a useful purpose up against Barky’s and raise you a billion …………………………..

    Stop the I’m smarter than you challenge. I can afford Barney’s but I prefer Target and Macy’s

    I will be glad when this is over.

  9. Has anyone ever seen BO actually “walk and chew gum” at the same time?

    CAROL HAKA 👿

    PUMA HAKA ARMY
    👿 ^ 👿 ^ 👿 ^ 👿 ^ 👿
    …….. 👿 ^ 👿 ^ 👿
    ………… 👿 ->

  10. Another
    Spot-On” post RD.
    In my opinion McCain “1st threw off” Obama with the DRILL NOW issue! He & the republicans read the “will of the people”,
    much better than Obama & crew.
    ** Also as a “sneak attack”; McCain trumped Obama on the
    “PUMA-OUTREACH” initiative.
    As for the Friday debate let’s insist “if” it happens at all it has
    a “TOWN-HALL” portion included!!
    McCain would agree & Obama could not “Back Out”!!
    GO PUMA’S

  11. please fix my 👿 (remove the semi and add the colon – Thanks.

  12. Who knows, but maybe the reason why BO doesn’t want to show his face around the senate is actually a sorry continuation of his way of conducting business. A way of conducting which, so far, it appears that it has actually worked pretty well for him.

    After all, if the Anointed One shows his face at work this probably means that he will have to take a stand and (God Forbid!), he will have to state which way he votes. (Hmmm, and this time there’s a good chance that it will be RECORDED?)

    Well, if the man of the hour doesn’t report for duty then he can always rely on his same old, same old. Yep, if everything goes to pot after trying to solve this serious financial crisis, BO can always say: You see, this is why I didn’t want to interfere, I KNEW already that this was going to turn into a mess. And, if by a miracle the financial crisis (hopefully) gets better, I guess that his response will be: You see, I KNEW that things were going so well that there was no need for me to interfere.

    Dunno, but it appears that the master avoider is playing the same game that, until now, has served him so well, and who can blame him?

  13. Fiasco indeed.

    Having trashed Bush XLI and XLIII for adding about $ 5 trillion to the national debt, I think it’s time that we look at
    the other side…

    “educatedwhitewoman” said on NQ:

    “FYI, I’m a democrat, but probably am switching to independent. I’m sick of the party system and the machinations. Today I learned that although Freddie Mac and Fannie Mae are at the heart of this financial meltdown, that Alan Greenspan and John McCain and others warned Congress of this coming catastrophe and recommended regulatory oversight of these institutions that were pushing for mortgages for low-income people who could not afford them, that these loans were made because Fannie and Freddie led everyone to believe that the government would back them up, but the Democrats, led by Barney Frank and Frank Dodd, said everything would be fine, things would be worse if we didn’t help these poor people (the kind of social engineering that Obama supports and we see how well it’s done in Chicago for the poor people of his district – the only ones who are well off are the corrupt politicians and clergy living in their million-dollar mansions), and thus reform efforts (John McCain’s bill) died.

    “And, guess what? Get this statistic: the MSM has covered Enron more this year than the collapse of Fannie Mae and Freddie Mac. Why? Because this is just the sort of large government program they love. Yes, 2008 is the year that professional journalism died in this country. Thank god for the internet. Spread the truth and stop this travesty!”

  14. purplefinn: A “this is not Chicago” moment?

    Also llike Dorothy uttering, “I don’t think we’re in Kansas anymore, Toto.” It’s becoming more and more a theatre of the absurd.

  15. Anyone interested in supporting McCain’s decision to decide
    what he as a leader believes is “BEST” on the debate issue?
    This is the # to call. It was distributed by the Obama camp;
    I say , “let’s turn it back on him”.:
    The Presidential Debate Commission:
    202-872-1020 @ 8:10am EST the mail box is FULL
    This is what I “will say”:
    I respect Senator McCain’s decision to post-pone the 1st debate. However “if” it does wind up happening then I must insist the only acceptable Forum is the “Town-Hall” / traditional.
    This would be an AMAZING opportunity for these men to “Speak- directly to the American People” & take questions from them!!
    Just-a-Though-“poor…poor Barack / he STUDIED Foreign
    Policy ALL week & now he has to talk about domestic issues instead…foot stomp!

  16. President of the United States is the hardest job in the world.

    Mere mortals fail in the position. Only those who are both extremely talented and who work extremely hard succeed at the job.

    Obama just wants the job, he doesn’t want to do the work.

    Leaders lead – can we have Hillary back now?

  17. Ya know, those f*ckers are never going to give us Hill back, so the question is moot. We are going to have to take her back. This is a power struggle.

  18. Hmmm. It seems that everything is going according to plan for the Republicans. Obama was scheduled to go down in flames before election, and it looks like that fire is starting already.

    Schmuck.

  19. masslib:

    Meanwhile Obamanation is whining that she and the Big Dawg aren’t doing enough to help Teh Precious

    Here’s some advice for Obama:

    WIN IT YOURSELF

  20. So what happened? I got offline yesterday afternoon after JM said he was going back to DC and this morning it’s like everything’s all shook up.
    Is it advantage McCain, or unforced error, or too soon to tell?

  21. Talk about FIASCO’S………Letterman, has shown, just how shallow he is and vendictive getting that clip from of McCain getting touched up. How low can you go.

  22. I have an accelerant I will contribute to get this over with. I am sick of all of this.

  23. Karolina:

    The GOP is a predominantly southern and rural party. The people in those areas now how to do a BBQ

    They will time it so Obama is finished roasting just in time for November 4th

  24. vindictive

  25. And proud of it. You live by the flame, you die from the burn.

  26. Robert G(L)ibbs on mojo this morning showed the classic effete, detached Obama campaign at its core: pooh-poohing the need to return to Washington and working — (!! gasp!) – or squandering the “O Show window.”

  27. Thanks RD.

  28. myiq:

    I love the BBQ analogy!

  29. Someone please ask BO to donate his salary to the bailout as he like others (Wall Street) have refused to do their job!

    CAROL HAKA 👿

  30. As my OLD math teacher, Mr. Porter – an eccentric and brilliant person would say: The times choose the leader and the challenge of the job makes the “man.”

    Successful Sales People must first arrive at the moment when, for all their piss and vinegar, recognize that there is a diamond in “experience” that they don’t yet posess, and just watch the OLD MAN work.

  31. I have to differ on this issue. I think it was a boneheaded move for McCain to put his campaign on hold – yikes, give me a break – in order to hitch up the buggy and trundle up to the capt’l to do some legislating. Who the fuck cares what McCain thinks about this clusterfuck bailout?!! I don’t. What? He’s going to become prezidnt’l and unite everyone behind the fiasco known as a bailout? I have to side w/ BO on this one (that actually hurt to say), you can do more than one thing at a time, it’s not a crisis and, ya know what?, they’re just two senators out of many. Their presences in Washington doesn’t matter one fig. On top of that, all of America knows this is a clusterfuck in DC and Obama distances himself from this horror story by staying on topic and preparing for the debate.

    Sorry, I just don’t see it as a McCain win/it’s an Obama win. At least on this battle. McCain may win the war.

  32. I really think Obama has forgotten he is a senator and that is his job. But, then, again was he really ever a senator, or a perpetual canidate.

  33. Myiq—yah, those folks throw a great feast to create a victory, then celebrate by getting right down to business.

    Anything else right now that the MSM throws out will be a distraction—rearranging the deck chairs on the Titanic as it’s going down.

  34. Back in the sixties, a trainer of fighter pilots for the US came up with a theory that not only has become military doctrine, but applies to the civilian business and politics worlds also.
    It is called the OODA loop and stands for observe, orient decide and act.
    The theory states that if you can run this loop faster that your opponent and keep up the pace, he will become more and more confused and his decision making process will collapse.
    Looks like JM and his people have learned this and practice it. OB just falls further and further behind the curve. There’s an Abraham Lincoln comment about a man that “floundering around like a duck that has been hit on the head.” Seems to apply here. JN

  35. This morning Mika continued the whining by calling it politics. Duh! Of course it’s politics Mika and John McCain just slam dunked Barry. Barry on the other hand, also playing politics, made one wrong move after another as he first couldn’t decide if he should join in a joint move. Oh, Mika also said that this should have been handled in private to reach an agreement but McCain tried and Barry stammered.

    So he can’t decide if he should decide if yesterday was a good day for decisions but after a few hours of kneeling at the temple of Axelrove he decides that perhaps he could make a decision about Friday night but lo, the actual President of the USA calls and tells him to get his ass back to DC. Still no decisions Barry because Shrub made it for you.

    Long as work allows I’ll expand upon this at the HampsterCage http://www.partizane.com

  36. Is that where they got the idea for the movie “Waiting for Guffman”? those movies crack me up….back on topic. Does anybody else get the feeling that all of this panic is a little bit over the top? This is strangely familiar to 2003 and the lead up to Iraq. get everyone all worked up and scared so that they can push through god knows what kind of bill. I am HIGHLY suspicious. Other than inflation I’m not feeling this thing yet. I feel pretty sure I’m not going to lose my job. Don’t know, I just don’t trust any of them anymore.

  37. ELIXIR…….I disagree……..remember, Sen. Reed ashed …….Where is McCain……..Gotcha.

  38. Just because we’re not Obama supporters doesn’t mean we have to rally behind every McCain campaign maneuver. Yes, selecting Sarah Palin was brilliant, I agree. But this “campaign on hold” shit looks stupid and most of america seems to think so. McCain is treating it like an October Surprise. No. It’s not an October Surprise, all of America knows that our economy has been going to hell in a handbasket for over 18 months now. It’s not exactly a secret and we’re all living it. If Iran had pulled a stunt and we were on alert – that’s an October Surprise. If a bomb went off somewhere in the US – that’s an October Surprise. If Russia tried to invade Georgia, oh yeah, they already tried that one – didn’t work. But a crappy bailout plan that nobody, and I mean NOBODY, supports is not an October Surprise.

    Don’t get me wrong, the repubs are just warming up and will be hitting BO w/ Ayers/Wright/taxes/inexperience, etc. like a kid with a pinnata stick at a birthday party but this one is not a John McCain win.

  39. Elixir:

    Johnny Mac hasn’t suspended his campaign – he moved it to DC so he could show leadership by leading.

    This is a major crisis. If Obama isn’t needed in DC now, he’s not needed there next January either.

  40. Race, O.J., and Politics–The Potential for an October Meltdown

    http://insightanalytical.wordpress.com/2008/09/25/race-oj-and-politics-the-potential-for-an-october-meltdown/

    Pardon me if I get nervous about this…with the way things are going in the media, I can’t help it….

    The University of Missouri School of Law project, by the way, is fascinating…..

  41. Luke Russert is right-my son goes to UVA. He is smart… and supported Hillary! I think he’s for O now but it’s my fault-I raised him to be a Dem and he’s sticking with them.

  42. I think McCain showed an ability to prioritize and i agree with it. It was a master stroke and if the Media would admit to it, it’d be a McCain win for certain. Still is for me.

    Anywho, Bill was on the CBS Early Show. The economic crisis is serious. The FDIC does NOT have enough reserves on hand to cover all deposits. That Bush was right to call McBama back because it’s their jobs and they responsibilties to their constituents.

  43. Hillary-zilla, How is Obama remaining in MS campaigning and preparing for Friday’s debate looking like he’s avoiding this? I don’t think so. I think JM looks stupid. It was BO’s turn to look stupid when the “financial crisis” was birthed last week and Hillary gave a breathtaking analysis and plan on where we are and how we fix it and where was BO…? ….? Nowhere. He’s a dope, there’s no question. He hasn’t got the intestinal fortitude to deal with any of this. But I will not relinquish. JM looks like he’s looking for any reason to avoid the debate and this bailout plan was as good an excuse as any.

    Again, we all knew the economy was in the crapper over a year ago. We saw our jobs, home value, savings disappear. This bailout plan is a stunt by Bush and Co. to get the rest of the cash before leaving DC and ALL of America knows this. Everyone. Associating with this fiasco is a huge mistake.

  44. I don’t know how things are playing out everywhere else but my parents don’t see Obama running around in circles yet. Last night they saw McCain suspend his campaign, cancel his Letterman appearance and then see Letterman rip on McCain. As far as my parents are concerned McCain is afraid to debate Obama and are buying Obama’s spin about multitasking. It took me about ten minutes of explaining how the press spins things for them to get it. They’re still voting Obama though. Sigh.

  45. Obama is NOT campaigning anymore. He’s in Washington. He was ordered there by the President.

  46. I keep wishing someone who understands the economic mess and has no major stake in it would explain objectively the result of doing nothing.

    What happens if we let these greedy bastards go broke? Does it hurt us more than it does them? The only lesson they have learned so far is that they can f*ck it up royally and we will bail them out. Why not teach them a different lesson…that if you f*ck it up royally you go bankrupt?

    Someone tell us…what would happen if we let them fail?

  47. Regency, are you sure Obama’s back in Washington? The Mainscream Media aren’t saying a thing about that, nor about Bush’s request that he return.

  48. Myiq, this is not a crisis. Was it a crisis last month? No. Nobody gave a flying fuck about the economy. We went along bailing out big financial houses and insurance companies. No worries. Just another bailout.

    Now, all of a sudden…Hello? we have a crisis. Jesus Christ on a cracker, we knew about this eons ago and we don’t need JM sitting in DC pretending to be president.

    This is the kind of stupid thing BO would have pulled but JM got the idea first. Ya know, JM and Graham were part of the posse that deregulated in order to allow this fiasco. I am shocked that everyone here thinks this is a win for JM. I will not let my dislike for BO and his highjacking of the primaries to cloud my judgement on this.

  49. Elixir, on September 25th, 2008 at 8:36 am Said:

    I have to differ on this issue. I think it was a boneheaded move for McCain to put his campaign on hold – yikes, give me a break – in order to hitch up the buggy and trundle up to the capt’l to do some legislating. Who the fuck cares what McCain thinks about this clusterfuck bailout?!! I don’t. What? He’s going to become prezidnt’l and unite everyone behind the fiasco known as a bailout?
    ________________________________________________________

    I don’t think that’s the point, even though that’s how you feel about it. McCain, as is his habit, wants to do something when his country is in crisis. In doing this, and postponing a debate, he leaves BO looking self-centered and petulant. What sort of President does the country want? One who wants to act in a crisis, or one who wants to appear on TV and debate.

    So, I think it was a dangerous but smart move on McCain’s part.

  50. Creeper: He’s supposed to be back. Bush told him to come back for a meeting with McCain and other Congressional leaders. Even Bill talked about it this morning. He said that they need to go back and do their jobs.

    We have to save the companies. Letting them fail is unfortunately NOT an option. The question is oversight and doing the absolute most damage control possible for the sake of the borrowers, not the lenders.

  51. I think when the Russian stock market has had to close for several days in a row and the international markets are tanking and my 401 is down 17%, that’s an emergency.

    Just saying …………………….

    CAROL HAKA 👿

  52. Elixir, on September 25th, 2008 at 8:53 am Said:

    Myiq, this is not a crisis. Was it a crisis last month? No. Nobody gave a flying fuck about the economy. We went along bailing out big financial houses and insurance companies. No worries. Just another bailout.

    Now, all of a sudden…Hello? we have a crisis. Jesus Christ on a cracker, we knew about this eons ago and we don’t need JM sitting in DC pretending to be president.

    This is the kind of stupid thing BO would have pulled but JM got the idea first. Ya know, JM and Graham were part of the posse that deregulated in order to allow this fiasco. I am shocked that everyone here thinks this is a win for JM. I will not let my dislike for BO and his highjacking of the primaries to cloud my judgement on this.
    ___________________________________________________

    You know, on this issue, you are sounding like a troll, Elixir. Honest disagreement is good, but your inflammatory language is not.

  53. Jump over to Corrente and read some of Lambert’s posts on how this whole “financial crisis” is an orchestrated theft before Bush and Co. leave town. He says it waaay better than I do.

    Sorry for the tirads, I just don’t want our “hate” to get in the way of saving ourselves. John McCain handling anything to do with this financial crisis would be…well…a financial crisis.

    http://en.wikipedia.org/wiki/Keating_Five

    http://query.nytimes.com/gst/fullpage.html?res=9E02E0D81F39F930A15753C1A96F958260&sec=&spon=&pagewanted=1

  54. When Chuck Todd is on the side of John McCain, you better know we are in realllllllllllllllll trouble.

  55. James Nelson, my significant other was trying to explain some tactical strategy something or other that the US Navy uses to engage the enemy. I am clueless with the sports and military stuff but I understood the “McCain is @*%$ing with his head.” You may be talking about the same mode of operations. Or something.

  56. Elixir……Yea ,,,,,,what ever.

  57. The Keating 5 Talking Point again?

  58. I WOULD LOVE IT, IF McCain voted No, on the Bailout.

  59. myiq, exactly. McCain made another great strategic move that left Obama looking like a fool. The “old man” is running rings around the rookie.

  60. Zila: That would amuse me for days.

  61. 10 stories down and everything is fine.

    6 stories down and everything is fine.

    4 stories down and everything is fine.

    2 stories down and everything is fine.

    Splat !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    It is never a plane crash until it actually hits the ground or building or house or car or …………………….

    CAROL HAKA 👿

  62. McCain may be playing politics because he realizes how dangerous the financial crisis is for anyone with an R after their name.

    But he may also have come to realize that this really is a crisis and something has to be done, and done soon.

    Or maybe it’s a bit of both.

    People were always accusing Bill of playing politics when he did the right thing on policy. I often wondered if they wanted him to choose a bad policy on purpose just so he wouldn’t be accused of acting politically.

  63. As I said in the thread last night—I think that Bush wants Johnny Mac and Barky back in town because he is trying to push this horrible, nation-destroying bill through congress.

    The election will be decided if one of them stands up and says “NO WAY” about that Paulson bill that Bush wants—or which one does it first and writes a new, doable bill.

  64. If you think this crisis is not a crisis then you may see it the way elixir does, but for people who believe we are in a crisis, the debate doesn’t mean anything. I am not a pollster, but I would say that most people are really worried right now, and desperately want leadership on this issue. They are using the phrase “Great Depression” for God’s sake. A phrase which would have earned you a tin foil hat not two months ago.
    I believe McCain masterly out-flanked BO on this one. If there is a deal by Friday and the debates go on, McCain wins because he went out on a limb, forced a deal, and went ahead with the debates, making Obama look like he is lagging behind. If the pols need to work through the weekend, again advantage McCain because he had the foresight to postpone the debates, knowing congress would have to work overtime.
    If you believe we are being shaken down, and this bailout totally stinks, McCain may not get a big advantage, but Obama hasn’t come out forcefully against it either, so its not like he is taking a strong stand. Again, I think that favors McCain, because Obama keeps looking like he is bad in a crisis. Even a fake one.

  65. Just because I disagree on this is not troll behavior and I don’t appreciate the label. Definition: One who posts a deliberately provocative message to a newsgroup or message board with the intention of causing maximum disruption and argument. I am disagreeing and stating my case, I am not doing this to disrupt the blog.

    I did not vote for BO, I voted against Kerry in the senate primaries here in MA because of his disservice to Hillary and I have switched my party affiliation to unenrolled so that I can write in Hillary in November. I’ve answered every PUMA prowl. But by differing on this topic I become a troll? My apologies for the inflammatory language, but, RD has pointed out that swearing is acceptable.

    I maintain that JM’s latest actions are a campaign stunt to get the upper hand and I don’t think he’s accomplished it. More importantly, I don’t want JM near any efforts to bailout or deregulate anyone.

  66. Elixir, on September 25th, 2008 at 8:36 am Said:

    “Sorry, I just don’t see it as a McCain win/it’s an Obama win. At least on this battle. McCain may win the war.”

    I have to agree with Elixir on this one. I’m inclined to give McCain the benefit of the doubt on just about everything but when I saw the headlines this morning I thought, WTF?

    This struck me as an attempt to polish McCain’s “presidential” image a la shortening the Republican convention for Hurricane Gustav. It might work once but twice is stretching things.

    But then maybe I’m not of a mind to listen to any of it. I’d rather see these banks fail.

  67. I think lambert and the other bloggers who are saying the crisis is not real are in denial. The crisis is real, and yes, the Bush admin is trying to use it to their advantage.
    You don’t belive the crisi is real? So why did Buffet just put $5 billion into Goldman Sachs? Buffet’s scared too, and he’s pitching in. The difference is that Buffet is being smart by attaching strings to his $5 billion, so he could even make a profit eventually.
    Paulson wants $700 B no strings attached. That’s ridiculous. What is needed is a way to lend money with oversight, with conditions, with accountability, and not just to the companies but also to the home owners.
    Hillary is treating the crisi seriously and she’s got the right remedy. The so-called deciders need to listen to her.

  68. plural, It probably is a bit of both. I also think McCain simply knows when it’s time to get to work. And Obama’s hesitation should give anyone who is thinking about voting for him serious pause.

  69. 1. On multitasking — If he’s so good at it how come Senator O couldn’t hold hearings of his senate committee on European participation in NATO while he was running for president? didn’t he say he was too busy to do his job?
    2. Yesterday’s NYTimes reported that ads on O’s associations with Wright, Rezko, & Ayers are being pitched in selected markets, the counties which, if they go repug, will turn Michigan red.

  70. The banks can’t fail. Because we get the bill. If their failures disappeared into vaccuum, that’d be another story but nope.

  71. Elixir, this mess is totally in the Dems corner. The REps wanted to regulate Fannie Mae and Freddie Mac, but the Dems killed it. I am not saying Reps are angels, far from it. But Fannie Mae is almost entirely the private fiefdom of Democratic lawmakers.

  72. Elixir, on September 25th, 2008 at 8:48 am Said:

    This bailout plan is a stunt by Bush and Co. to get the rest of the cash before leaving DC and ALL of America knows this. Everyone. Associating with this fiasco is a huge mistake.

    **************

    Perhaps then this is the “crisis.” Stopping Bush from looting the treasury further.

  73. Let’s all think back to the time when President Bill Clinton sent a bunch of missiles into ……………. to try and get Bin Laden. Everyone accused him of “Wag the Dog”. I blame them for 9/11.

    I’m glad McCain is in Washington. He will meet up with Hillary and make sure we get the best possible outcome.

    Obama will still be standing on the corner with the MSM screaming, “Wag the Dog, Wag the Dog!”

    CAROL HAKA 👿

  74. Elixir…..Who is calling you a troll…..I am just to tried….to argue…..and you do have a goodpoint……but…..anyway,
    bye for now…..going to take a nap.

  75. votermom, on September 25th, 2008 at 8:55 am Said:

    “Creeper, we all go down if they go down, unfortunately.”

    I’m willing. We have managed our lives and our finances carefully, perhaps because we knew years ago the potential for a mess like this. I would kiss my IRA goodbye in order to see the shysters on Wall Street broke and in prison.

    Everyone keeps saying, “We HAVE to do this.” No, we don’t.

  76. It is never a plane crash until it actually hits the ground or building or house or car or

    Carol — Yes! Perfect analogy!
    Btw, that angry cat face is so cool — how do you make it?

  77. Interesting debate going on. This financial crisis is a good opporutnity for the candidates to show their leadership chops. Bush calling BO back to DC is interesting. I agree with RD. Did he announce it last night? I did not watch. I do not understand the argument that JMC is trying to bail out of the debate. He HAS to debate him. Well, if not on Friday, on Monday or whenever. What is JMC avoiding if we just entertain the idea that he does not want to face BO? He needs more time to prepare? He does not like the venue? Don’t tell me he is scared of BO because that is just plain stupid.

  78. Creeper: Then, good for you, you’ll stay afloat, a lot of people have not been able to manage their finances with such care. They won’t stay afloat. They lose their houses, their cars, and whatever other assets they’ve had to finance over the years. The great majority of people can’t afford to see these companies go under. They go under with them.

  79. I’d rather see these banks fail.

    creeper, that is a horrible option, and wishing for it shows a real lack of understanding of how our system works, and how it is interrelated. It would be the worst possible thing for the economy, and the entire country would see massive suffering.

    Bush’s bailout plan sucks because it’s a blank check, but the solution to that is NOT “let’s do nothing and let it all crash, serves them right”. The “them” in that scenario is not just greedy bankers, it is the entire country.

  80. colon evil colon – with no spaces inbetween.

  81. McCain wants a postponement not a cancellation. He’s said Monday or Tuesday, but no later. He said let’s take the date of the Veep debate and move theirs back. Considering the fact that Biden’s already given up the goat, you’d think Obie would jump at the chance to keep Biden away from Sarah Paln\in.

  82. Elixir,, your comments are spot on this morning. You have it exactly right.

    The only thing I disagree with you about is that I don’t think McCain is doing this for political purposes, I think he’s sincere. McCain is behind. Most polls of the popular vote show him losing by 4-8 points and the most recent polls of the electoral vote show him trailing Obama approximately 300 electoral votes to 220.

    The candidate who is behind (as McCain clearly is), needs debates to change momentum. The candidate who is ahead usually wants to avoid debates.

    So suggesting that the debate be postponed works against McCain’s political interests.

    You are right though. It was a dumb move and spot polls demonstrate that the public doesn’t like it. McCain is in an incredibly tough spot. President Bush is hated by the public more than ever and the financial system is imploding on the Republicans watch. He’s damned if he does and damned if he doesn’t.

    But trying to cancel the debates and go to Washington (where both he and Obama will be in the way) was not smart. It was certainly not good politics.

  83. Sorry guys, I need to chill. This is too upsetting for me.
    I believe the country has been in a financial crisis for over 18 months. As we all know, our homes, our jobs and our savings are disappearing. But I will not be shocked into believing we must do something right here, right now. No, I want a reasoned plan with details not a blank check for Bush’s buddies. I don’t want McCain anywhere near this issue. I don’t care what he does with any other issue but his track record on this is frightening.

    Bottom line, McCain won this because BO is sitting in MS writing talking points on the back of his hands and McCain is in DC saving the economy. Yeah, right, he’s saving nothing. But he did win this political haka.

    I am sooo mad right now. Soooo mad.

    Why the fuck can’t we have Hillary back!!!!!!

  84. I’m willing.

    I’m sorry to say this, but you’re crazy. You know what will happen if the system runs out of cash? Businesses, not just banks, but a majority of employers, would have massive lay-offs and/or go bankrupt. Money market accounts would have losses. Banks will not have enough money for all the people who decide to take their money out. They’ll start to fail and then you’d be going to the FDIC to get your savings. The rich will still have enough to get them through this, but the majority of Americans will not.

  85. He does not want to cancel the debates. Just to postpone them.

  86. Obama is going to DC. He is NOT campaigning. WTH?

  87. WMBC, Bush’s bailout plan sucks not because it’s a blank check but because it’s another in a long line of bailouts that WE are footing the bill for.

    I understand perfectly how our system is SUPPOSED to work. I am also painfully aware of how our system is ACTUALLY working. The two are not the same.

  88. Everybody gets hurt if the banks fail, including people who have been completely responsible with their money. It’s only a matter of time.

    We have to have credit, or the economy doesn’t grow.

  89. The greedy have already received their money. It is the people around the world that will suffer.

  90. Agreed, we don’t have to do anything. We don’t need a bailout, we need an economic recovery plan.

    Where the hell is Hillary on this?!! I’ve worked too long and too hard to see my life savings, my children’s meager college accounts and my mother’s paultry savings sucked dry by that bastard in Washington. I’m terrified and I will not be bullied into a bailout. We need a plan. Hillary has a plan.

    Why can’t we have Hillary now?

  91. Everyone knows Obama is terrible at debate, so no one believes that JM is trying to avoid him.

    This is a crisis, because people are going to believe it is a crisis. How could any Senators running for president avoid capitol hill right now. Even if Obama is going to come out against it, telling people he can keep in touch over the phone looks very removed from the decision making process and that is not the image you want people to see when you are asking for their confidence.
    Obama’s problem is that he is terrible in a crisis because he doesn’t like to take a stand on anything that could potentially come back to haunt him. That strategy has worked for a long time, partly because the press as aided him. However, whether this is trumped up or not, people are viewing it as a crisis, and Obama just looks indecisive.

  92. Elixir, unfortunately our large financial institutions are tanking. The Republicans deregulated and the Democrats jumped on the lobbying gravy train and intervened with anyone trying to reign them in. This is both parties problem which is why they are both terrified to start pointing fingers except at the financial institutions. This has been coming for years and it will domino even more. Will it cause a world wide depression? Not if Hillary can reform our financial laws. But giving Bush 700B now is foolhardy. I have my own plan for Wall St and the first act is to give all executives there a cup and some pencils then get bankers and brokers out of NYC to clean it up. Those out of the Wall St greed machine will have to do the heavy lifting.

  93. as far as McCain pulling a “campaign stunt” by suspending for the moment… I’m inclined to wait and see what he can accomplish… I think the bailout is necessary, but giving away the farm is not… if McCain can pull the R’s around to making sure that the golden parachutes aren’t funded, that we receive something more than bad paper for our money and what if he can get agreement from his party that some of Hillary’s good ideas are included, then his “stunt” is quite productive…

    the proof will be in the pudding.

  94. Hillary’s been talking about this for weeks before there was a plan and days now.

  95. McCain on Fox at Clinton Global Initiative

  96. This issue is bigger than who’s in MS and who’s in DC. It’s who’s going to take care of this responsibly.

  97. Okay, simplistically, am I understanding this:

    Banks gave mortgages to people who couldn’t afford the, thus they defaulted and did not pay the money back, leaving the banks with a limited cash flow. In turn these banks started calling in loans from other areas, but they had no money either. People like us, who pay our mortgage and have savings aren’t affected yet. However, the money we have in the bank is insured to up $100,000 by FSLIC, but the FSLIC’s coffers are empty as well. Wouldn’t the nail in the coffin be for people to start making bank runs and removing their money from their accounts?

  98. Well BO doesn’t even have a claim if he doesn’t show up. McCain is there. Hillary is there. Hell, more than BO, Bill is there. These are people I trust. They’ve been (at least Hill and Mac) yelling about this for months now. I’m inclined to listen at this point and hope others will as well.

  99. FDIC not FSLIC

  100. Hillary has been talking about it for 18 months.

  101. but general idea, Mawm? It sounds right to me.

  102. FDIC does not have the funds to bail out the pending 1000 banks that could go under any day.

  103. I think people need to keep in mind that this is not really a “bailout.” It is more like a “buyout.” The govt isn’t just handing out cash… they will be buying up assets… The move will restore confidence in the markets (the lack of confidence is the biggest reason the housing markets have eroded so quickly) and jump start the flow of credit. In several years time, these assets may have appreciated enough to allow the government to sell them back to the private sector and reap a substantial profit. This isn’t that much different than what the standard philosophy is during bear markets…. buy up stocks that are undervalued, wait a few years, and then sell them. I think Bush did a poor job of selling the American public on this last night.

  104. Carol: Gee whiz, why did nobody listen to her? It’s like the whole damn thing started to implode once she wasn’t able to fix it anymore.

  105. They didn’t just not listen to Hillary; they ridiculed her.

    While they didn’t exercise the regulatory powers they already had.

  106. Sorry if this off-topic and has been discussed already.
    This is another fiasco moment.

  107. Prediction: Obama will not vote on the package. They will indeed approve the bail-out, but Obama won’t vote no or yes, he will abstain.

  108. Hillary and Bill have said that the bailout during the depression actually turned out to be profitable. I’m going to listen to Hillary and Bill.

    McCain will also.

  109. rasmussen has Obama up by 2 now in NC. I think they are rigging the polls in states like VA and NC so that when they steal the election they will have cover. this whole thing is rotten to the core.

  110. To anyone who thinks we should just let banks fail, because they have savings and/or are retired. Remember, many people in this country are one pay check away from homelessness. Unemployment is already %6. If businesses can’t get loans, a whole lot of people are going to get the axe, and that will just send us spiralling down. Maybe some of you secretly want a Depression. I know of many liberals who want that sort of thing so we can bring FDR type policies back, but I would say that that is the most disgusting attitude to have. To me, it is the same way of thinking that led the neocons into Iraq. The ends justify the means. Let’s let a whole lot of people starve or freeze to death during the winter, so we can have liberal social policies.
    I don’t know if we are being shaken down right now, but if a mugger has a gun to my head, I might be inclined to hand over my wallet.

  111. McCain: War-tested, Bill-approved.

  112. WSJ article on how Paulson’s plan could bring in over 1 trillion dollars in profit for the fed. government:

    http://online.wsj.com/article/SB122230704116773989.html?mod=googlenews_wsj

  113. Obama and his camp would never get this point:

    CAROL HAKA 👿

  114. this is way off topic, but my brother just sent this to me:
    U.S. troops returning from duty in Iraq will be carrying out homeland patrols in America from October 1st in complete violation of Posse Comitatus for the purposes of helping with “civil unrest and crowd control” – which could include dealing with unruly Americans after a complete economic collapse.

    This shocking admission was calmly reported on September 8th by the Army Times website, which reports that from the beginning of next month the 3rd Infantry Division’s 1st Brigade Combat Team “Will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.”

    The deployment of National Guard troops to aid law enforcement or for disaster relief purposes is legal under the authority of the governor of a state, but using active duty U.S. Army in law enforcement operations inside America absent the conditions described in the Insurrection Act is completely illegal

    I’m still in America, right?

  115. So am I in moderation?

  116. From what I read, adminstration caved on executive compensation and oversight. Meaning we may actually have these two items in the “plan”, to what degree, I don’t know.

    Nobody’s answered “why 700 B?” yet.

  117. OT: My son just called and he is on his way.

  118. Kim – Your son is on the way? Home? I hope this is good news.

  119. Elixir, I heard the number came from an estimate of the number of bad mortgages out there, somewhere around %6-%7.

  120. Det. Columbo has questions for Sen. Obama:
    “Excuse me Mr. Obama, I mean Senator Obama, sir. Um . . . know you are busy and important and stuff. I mean running for president is very important and . . ah . . . I hate to bother you. I will only take a minute ok, sir?
    See, I have these missing pieces that are holding me up, and I was wondering sir, if you could take time out of your busy schedule and help me out. You know, no big deal, just some loose ends and things.
    Hey, you have a nice place here! The wife sees houses like this on TV all the time and says boy she wishes she had digs like this you know? Is that painting real? Really? Wow. I saw something like that in a museum once!
    Oh, sorry sir. I didn’t mean to get off the track. So if you could just help me out a minute and give me some details, I will get right out of your way. I want to close this case and maybe take the wife to Coney Island or something. Ever been to Coney Island ? No, I didn’t think so. .
    Well, listen, anyway’s, I can’t seem to get some information I need to wrap this up. These things seem to either be ‘locked’ or ‘not available’. I’m sure it’s just some oversight or glitch or something, so if you could you tell me where these things are . . . I . . . I . . . have them written down here somewhere . . . oh wait. Sorry about the smears. It was raining out. I’ll just read it to you.
    Could you help me please find these things, sir?
    1. Occidental College records — Not released
    2. Columbia College records — Not released
    3. Columbia Thesis paper — ‘not available’
    4. Harvard College records — Not released
    5. Selective Service Registration — Not released
    6. Medical records — Not released
    7. Illinois State Senate schedule — ‘not available’
    8. Law practice client list — Not released
    9. Certified Copy of original Birth certificate — Not released
    10. Embossed, signed paper Certification of Live Birth — Not released
    11. Harvard Law Review articles published — None
    12. University of Chicago scholarly articles — None
    13. Your Record of baptism– Not released or ‘not available’
    14. Your Illinois State Senate records–‘not available’
    Oh hey . . listen! I know you are busy! Is this too much for you now? I mean, tell you what. I will come back tomorrow. Give you some time to get these things together, you know? I mean, I know you are busy, so I will just let myself out. I will be back tomorrow. And the day after.
    “Who wants to know these things” asked Senator Obama? Columbo answered:

    “THE PEOPLE SIR.”

  121. Carol, on September 25th, 2008 at 8:33 am Said:
    Someone please ask BO to donate his salary to the bailout as he like others (Wall Street) have refused to do their job!
    ____________

    Yes! Why don’t American taxpayers have the right to sue Congress for mismanagement? Haven’t we paid them to work in our best interests?

    _________________
    insightanalytical, on September 25th, 2008 at 8:43 am Said:

    Thank you for the link, but I think this is pure fear-mongering. It amazes me that leaders like Brazile believe the entire African American community is willing to riot on behalf of Obama. Brazile, et al exploits and displays contempt for AAs by suggesting they will riot on cue.

  122. Hey, how come I got that funny looking lime green thingy back? What happened to the baby pic?

  123. The administration had regulatory powers that they didn’t use.

    It’s not just the fault of Congress.

    The Republicans have been putting out the story about Congress because they don’t control it now, but a lot of this is political propaganda and blame shifting.

  124. Isolde, That is it, JM is screwing with BO’s head and at this point, the harder BO tries to catch up the worst it will get for him. JN

  125. Well, I’m not an expert on any of this stuff but to give $700billion of taxpayers money to a bunch of rich people who intentionally screwed up is not right to me. Why don’t average Americans get bailed out when we make mistakes? People across this country haven been struggling with the price of food and gas for months now but the only thing we got was that paltry Bush rebate. As for the politics of it I don’t think McCain will get any real benefit from it. It just looks like a political ploy with the whole suspending his campaign nonsense. But Obama isn’t doing much better because he’s not really an FDR/Clinton democrat. His campaign has never been based on the bread and butter democratic issues.

  126. […] over the gays too!)Lullaby for the ObamaphilesInterview With Congresswoman Carolyn Maloney – Part IThursday: FiascoLeaders […]

  127. RealKim, you are talking about the subprime loans. I don’t think that’s the real problem.
    The real problem is that Wall Street then took mortgages and sold them in a new way, all chopped up like shares in stock, which basically led to them to be way over-priced. As long as mortgage payments came in, this seemed like a great deal. So banks kept making more unrealistic loans (ARMs and balloon payments) because they were eager to turn around and sell them on Wall Street at inflated prices. It was a bubble, like tech stocks, or those tulips in Amsterdam long ago.
    Then when people were not able to meet mortgage payments, Wall Street really didn’t know which of those instruments were affected because they are all chopped up now. So they lost trust in all of them — no one wants to buy any of it anymore. Then AIG’s like, holy cr@p, we insured all the transactions on this stuff at way more than they’re worth, we don’t have enough money to pay as these get called in.
    Anyway, that’s the bit I understand.

  128. Arabella, I wish, no his training is over, he is leaving for Iraq today.

  129. Obama should have been prepared. He should have done his homework on the economy. He should have anticipated an attack as soon as early voting commenced and any hope of sending in a relief pitcher was nearly extinguished.

    And WHO would have been prepared, and countered every single move with deft and powerful responses? WHO has lived with these tactics before and is prepared for every scenario?

    Give me an “H,” give me an “R,” give me a “C”

    The other quote he gave that struck me was “if they strike a deal and are popping champagne, I will continue to campaign with the people of blah blah blah.”

    WHO is popping champagne over one of the worst financial crises in our nation’s history? Even if the cobble together a deal, this is NOT A CELEBRATION! If ONLY the press was doing it’s job, each of these clueless statements, completely lacking in empathy and understanding would be clearly highlighted to reveal the weakness that is Obama. He wants the debate anyway?? He is only saying that because he was caught with his pants down and is trying to assert himself, but it only reveals that he puts himself and talk talk talk ahead of decisive action.

    Every day a new “ugh.”

  130. RealKim, good luck to your son.

  131. FYI,

    For those folks calling this a publicity stunt. It isn’t. The bailout package did not have the Republican votes to pass in the Senate, and Hank Paulson called up Lindsey Graham and begged him to get McCain down to Washington to provide leadership for the GOP. Again, without McCain’s leadership, nothing was going to get done since GOP Senators were rightfully balking at the current $700 Billion proposal. Paulson begged McCain to get to Washington. McCain could have gone there himself without inviting Obama.

    This was reported by Bob Schiffer on CBS Early Show. yes I’m shocked as well.

    http://newsbusters.org/blogs/mark-finkelstein/2008/09/25/schieffer-paulson-warned-bailout-would-fail-unless-mccain-got-invo

  132. Votermom: Thanks, I think I understand.

    I am more worried about the American people and their tendencies to over react. In some areas, when gas went up, there were runs on gas stations. My mother lives in a rural area and half the stations are out of gas. Also, remember the whole Y2k fear factor, people were stashing bottled water. But what if people start pulling their money out of their accounts, will this compound the problem? I have already heard people on the streets saying they were taking their money out of the bank.

  133. Really, why is Obama having to bone up on his debate skills? Am I the only one remembering his whiny nag that he and Hillary didn’t need any more debates because of the 20+ they had? And didn’t he say, they could “give each other’s lines my now”?

    Poor BO, he is sooooooooooo pathetic.

  134. Just keep giving Hillary’s lines BO. They are safe, correct and directly to the point.

  135. Carol, on September 25th, 2008 at 10:14 am Said:

    Just keep giving Hillary’s lines BO. They are safe, correct and directly to the point.

    ————————————–

    Shush, stop giving him good ideas. We need him to stick to the lines that Dean and Brazile are feeding him.

  136. But what if people start pulling their money out of their accounts, will this compound the problem?

    That is a serious concern. That’s why banks have been holding on to their money, not lending to other banks, because they are worried that people will do that and they want to have enough cash to meet a run. That’s part of why, I think, McCain’s first reaction to the crisis was to say “the fundamentals are sound” because it’s not good if we panic.
    The hope is that govt infusing enough cash into the system will keep people from panicking.

  137. BO is insisting on the debate going forward.

    McCain will insist it stay on topic.

  138. popcorn anyone? I’m stocking up because this is really getting good. Personally, I think Obama is being played like a violin. But, what do I know–I’m just old, tired, poor, stupid, bitter, low-informational, slope-browed and knuckle dragging.

    Yesterday, heard an Obama ad here in NE FL that stunned me. Must be in selected markers–red neck markets. It had an older woman with an unbelievable hick voice decrying McCain’s lack of econ. sense-followed by the I approve-BO statement. It was awful–so obvious a pander to the low-info. that it was insulting.

  139. McCain’s instinct is “all hands on deck”… that seems right to me…

    BO, while laughing at McCain and acting like he is a foolish old man, I think will look like a great big zero in the end…

    now, if we can just get McCain to listen to Hillary, this all will get worked out in the right way…

  140. The bailout package did not have the Republican votes to pass in the Senate, and Hank Paulson called up Lindsey Graham and begged him to get McCain down to Washington to provide leadership for the GOP.

    Lucky for us, then, that McCain happens to be the one GOP candidate who will insist on oversight for that 700B.
    I imagine Romney would have been less insistent on that.

    And if JM’s still courting Hillary votes, it would be brilliant if he got onboard with her HOLC proposal.

    (And of course no one needs Obama back in DC. He’s such a lightweight. They just need his rubber-stamp.)

  141. Bill Clinton on ABC this morning:

    “Well we all know McCain is not a afraid to debate because he wanted more debates so it must be sincere..putting country first”

    He said it twice.

  142. For my money, I believe they’ll have a debate. Definitely watching.

  143. It kills me how he (Obama) implies in his statement yesterday how ‘in charge’ he is. Talks about talking to Pelosi and Reid and Paulson daily and how we’re on top of this. My sister said that he sounds like he is the President.

  144. kc, if senators can easily do their jobs from their Blackberries and cell phones, why send them to Washington at all? Why not let them all work from home, and then just show up once a quarter to vote on a bunch of stuff?

    The truth is that some things have to be hammered out face to face.

  145. garychapelhill, on September 25th, 2008 at 9:40 am Said:
    rasmussen has Obama up by 2 now in NC. I think they are rigging the polls in states like VA and NC so that when they steal the election they will have cover. this whole thing is rotten to the core.

    I’ve been wondering the same thing.

  146. Please people here. You are well above the level of those who are yelling a 700 B giveaway of tax dollars. Please work to understand how this proposal, if properly crafted and regulated, can not only help this situation but help ensure that taxpayers get back what they are giving. 700 B. is not going to the perps of this mess. It would go to buy up mortgages that are defaulting on properties that can/will have value in the long term.

  147. I am so sick of the finger-pointing. Neither party has clean hands, here. Bush’s deregulation caused a lot of it. They did not want regulations on the private investment houses. But some Repubs did see the problem looming, and tried hard to get Fannie and Freddie reined in – which the Dems opposed. Some of the private bank problem is not the lack of regulations per se (though that made it worse), but the refusal to DO the oversight provisions already in place. That is a “doing your damn job” problem, not a “lack of rules” problem.

    There are two players here: the private banks and Fannie/Freddie, each backed and covered for by “their” party

    Many Repubs wanted to give the banks free rein, and many Dems wanted to give Fannie/Freddie free rein. BOTH parties tried to protect their favored side, and BOTH failed to protect the American people.

  148. WMCB,

    Well said. At this point, I really don’t care whose fault it was. Both sides had their hands in the cookie jar. So let’s just deal with it. I wanna hear solutions, not “wah they started it”.

    BTW 😯 at Bill’s statement lol

  149. Bill said it on NBC too, about McCain:
    “He’s not afraid of debates.”

  150. Okay, Jangles, I get it, we have to do something to stop the crisis. However, as a norma American citizen if I get fucking fired, I get $303 in unemployment, which is the maximum they pay. I do not get a golden parachute of fucking millions of dollars to send to the god damn Cayman Islands. So forgive me if I am more than just a little pissed off about the whole situation.

  151. Amen, Kim.

  152. “Decisions, Decisions, Decisions – Poor Barry”

    The Hampster opines: http://partizane.com/node/158
    Hey, it’s work the click for the photo alone. 😉

  153. Duh, it’s “worth” the click, not “work.” Coffee, need more coffee.

  154. Obama supporters seem to live in an alternate universe. To them, McCain is the ducker, the dodger, the lame-o political grandstander, for going to Washington just to do his job. I don’t understand how they think.

    Of course there is grand political posturing involved, as this is a Presidentia campaign after all. It might actually have worked out well for both candidates, had Obama handled it gracefully.

  155. TheRealKim: amen. Golden parachutes have been around for what, 25 years? and no one’s done a goddamned thing to put a stop to the disgraceful practice.

  156. have you guys seen this:
    http://thepage.time.com/sarah-silverman-video/

    i dont know whether to cry or laugh or both
    but somehow it works to make vote for McCain!

  157. And they don’t even pay taxes on it, because they send it to an offshore account; while I pay 35% because I am single and don’t own a home.

  158. Ugh. Imbecile, RD. Makes you wonder why the dems thought they could get away with this, no?

    we had Hillary.
    we had Hillary.

    ugh.

  159. I agree with RD and appreciate the shout out for my favorite bit of hilarity. I have that TAL ‘Fiasco’ piece on my iPod and play it whenever I need to laugh until I cry. Really, it is hysterically funny. I had to pull the car over the first time I heard it. If anyone has not heard it yet, please click RD’s link to it.

  160. RD: You are brilliant! This is an amazing post. Thank you!

  161. “Someone tell us…what would happen if we let them fail?”

    It’s very simple.

    Want a car? No loan, pay cash.
    Want a House? No loan, pay cash.
    Want anything? Forget credit, pay cash.

    If you think your in a position to live that way then let it fail. You should keep in mind though that companies (perhaps the one you work for) will also be unable to get money. So what will they do? Reduce the out of pocket expenses (employees are #1) or do the most financially smart think and pack up and move to other countries.

  162. Feeling like kvetching this afternoon? Come on over to Hampster’s joint, it’s an open thread (with musical interlude).
    http://partizane.com/node/159

  163. kc, on September 25th, 2008 at 10:33 am Said:
    “It kills me how he (Obama) implies in his statement yesterday how ‘in charge’ he is. Talks about talking to Pelosi and Reid and Paulson daily. . . ”

    What good is it if Obama has been talking to them? Harry Reid admitted they had absolutely NO CLUE how to deal with this. So the blind are leading the stupid? What good is that?

  164. More lies from him. He hasn’t been in contact with Reid, Pelosi and Paulson daily

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