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Wednesday: Bailout Bill in the Senate. Will the Democrats show up?

Ohhhh, that’s right, partisanship is so outre.  Someone in the media might think it’s offensive or embarrassing, like using the wrong fork or having spinach on your teeth.

Hillary will be back in town, now that Obama has let her stop campaigning for him for a day or two.  Of course, she’s been acting like a Democrat so it’s been necessary to keep her AWAY from any negotiation session on the bailout bill.  I guess that is why the Senate bill is laden with Republican pork, because what elese would the Democratic lead Senate do to pass legislation that is deeply unpopular with the American people?  I mean, we only *loathe* Republicans now and their seats are in danger due to their overbearing nastiness, aggression and greed.  They’ve never met a bill that they haven’t been able to rewrite to stick it to the American people.  And now they are managing to give away more tax cuts and increase the amount of money that the FDIC will cover.  What’s in it for Joe Bagodonuts?  Nada.  But that’s the beauty of bipartisanship.  The Republicans see it this way:  What’s theirs is theirs and what’s yours is, er, theirs.  See how that works?  Thank you for sharing!

Democrats, now is the time to start acting like Democrats.  Now is the time to do what the American public wants you to do.  And basically that is to put in a stop gap measure now and help the little guy get back on his feet.  We have had eight years, no, make that 28 years, of Republicans feeding at the public trough and we’re sick of it.  Come to think of it, I came of age during the Reagan years.  I missed out on cheap tuition, interest deductions and five year income averaging on my taxes.  I entered the housing market when the baby boomers were selling their starter homes at a profit.  I’ve lived my entire working life on measly 3% raises with an occasional promotion or 5% thrown in (Ooooo! *5%*!  Aren’t we lucky this year?)  I’ve seen my pension plan replaced with a cash balance plan.  I’ve been told I have to work longer for social security and that someone has a great idea to put all of my social security account in the hands of, wait for it, WALL STREET!  That way, I *too* can make obscene profits.

In short, movement conservatism has been not so good.  I shouldn’t be complaining.  I have the best job in the world.  I work for a fantastic company and I love my boss, who is an intelligent, hard working woman.  But for my kids, it is a different story.  One is struggling to make ends meet.  She just can’t make enough money in this economy to live on her own, even without the mounds of educational debt that her friends have.  The other is going to get saddled with that mound of educational debt.  She’s facing a public school system that could care less whether she’s bored out of her skull under NCLB.  The beatings will continue until morale improves. (BTW, morning detention today for being late, so I have to wrap this up)

Anyway, my point is, the American people have watched their wealth and their tax dollars get frittered away by Republicans.  Only Republicans and their friends seem to benefit from legislation in the past 28 years, with the exception of the Clinton years.  But despite the Clintons’ reputations for helping the little guy and Hillary’s embarrassing habit of actually acting like a Democrat, it is Obama, Pelosi and Reid who are in charge.  It should be clear from the past couple of days that the public does not want to fork over any more money without getting something in return.  And the only person who seems to be asking for anything in return is Hillary with her HOLC plan.

So, give it to her, guys.  Put aside the pride and the desire to squash her like a bug because we are out here watching.  If the Republicans walk away with the whole pie again, you congresscritters who let them do it deserve to lose.  And that goes doubly for Barack Obama.  And we will figure out a way of ridding ourselves of you when the bill for this mess falls heavily on us again.

Stand up and act like Democrats.  Stand up for US, for a change.  Give us fireworks on the Senate floor. Do something rude and offensive to the Republicans and the Villagers.

Cause a scene.

113 Responses

  1. I’ve come to the conclusion that they are standing up for the interests they represent. The interests they represent, however, are not us.

    The Dems represent Wall Street just as much as the Republicans do. I would say Obama represents Wall Street better than McCain.

    None of these a**holes are going to let Clinton anywhere near that bill with her HOLC. I would be totally surprised.

  2. Mawm: I would be surprised too. But I think Sun Tzu said that surprise was a good thing.

  3. Dream on RD, dream on. Expecting this pack of Obamacrats to act like “real” Democrats is like expecting the current crop of Republicans to act like Teddy Roosevelt or Abe Lincoln.

    I began to lose any faith in the Democratic Party when the Patriot Act passed the first time 99-1. One real Democrat stood his ground and that was Russ Feingold. The rest just got in line like good little pandering politicians. What little faith I had left in the Democratic Party died on May 31st, 2008.

    I don’t know what will come out of the Senate. Nothing good I expect. After all it was the Democrats in the House that wanted to add the ACORN crap to the bill.

    Whatever the outcome, I am sure that Joe and Joannie Bagodonuts will get screwed once again. Because NEITHER party gives a crap about us.

  4. There is an article on NoQuarter about Marcy Kaptur and she is talking about an HOLC. It would be nice to know who in the House and the Senate would support something like that, so we could make a show of support for them. They need all the support they can get to fight off the blodd suckers like Pelosi.

  5. I read the reason all the CBC voted no on the bill was due to the Reps stripping out the money for ACORN.

    The CBC is one of the most corrupt organizations in the congress. Conyers, Clyburn, Jackson they all need to go!

  6. The CBC, Acorn…yes, they are running the show now…

    Perhaps some of the things mentioned in this post further illustrates what’s behind Obama…great visual examples….

    Obama’s Very Own Cultural Revolution


  7. Did someone post this yet? On Morning Joe, they said that Gwen Ifill, the moderator for tomorrow’s VP debate, is releasing a book called, wait for it:

    “The Breakthrough: Politics and Race in the Age of Obama”


  8. “in sight”
    This is VERY scary!
    Someone said there’s a 10point youth message on his website.
    We all have to write our Senator’s today & say:
    NOooooooooooooooooo ACORN!!

  9. VP debate moderator Ifill releasing pro-Obama book
    This is the moderator for the Palin – Biden debate

    Email Janet H. Brown, Executive Director of the Debates Commission: jb@debates.org and send your complaints.

    Ask the Commission on Presidential Debates if she will acknowledge her conflict of interest: 202-872-1020.

  10. Case in point, first round of the bailout bill loses by a squeaker.

    Nearly 100 Dems vote AGAINST it. Yet Dem leadership makes noise about the Republican’s who didn’t vote for it and now they are working on revisions to make it more Republican friendly.

    How about making it more Democratic friendly? Silly notion, I know.

  11. thanks guys:

    if you could please also call lou dobbs so more people know about it:

    please call Lou about gwen ifill’s pro-Obama book, which will be released on JAN. 20th 2009,
    inguraration day…

    and how there is a HUGE conflict of interest!!!
    she needs to step aside!

    Lou Dobbs:
    1-877-553-6227 between 3 PM and 5 PM (Eastern Time)

  12. Gwen Ifill as moderator of the debate?

    Why don’t they just make Michelle Obama moderator of the debate?

    Why do we even need a debate? Why do we need an election when we could proclaim Obama president by acclamation while the deejay plays Love Train?

  13. They showed a clip of an interview on MSNBC with Bush I & Gerry Ferraro, and Ferraro said something I agree with 100% — she said even though she won’t vote for McCain/Palin, she’s rooting for Plain to do well because it will do little girls good to see a woman go toe to toe with a an experienced politician and hold her own.

  14. The hypocrisy is so rich… So much for acting in accordance with one’s beliefs, setting an example and leading. Self-interest reigns.

    EXCLUSIVE: Pelosi paid husband with PAC funds

    “House Speaker Nancy Pelosi has directed nearly $100,000 from her political action committee to her husband’s real estate and investment firm over the past decade, a practice of paying a spouse with political donations that she supported banning last year.”


  15. as per Obama campaign, bailout shall be henceforth refered to as “rescue”
    meanwhile there’s been a sighting of PUMAs in Oregon

  16. Let’s face it. The Democratic Party that gave us the New Deal and the Great Society is dead and buried. There is so little difference between the two parties now it is difficult to tell them apart, except maybe that one is pro-choice and the other is not. Both are so beholden to big business, that average people no longer have a voice that is truly representative of their interests. This bailout bill, no matter what form finally passes, will just be further evidence of that.

  17. Votermom, yeah I have something on the “age of Obama” moderator. Apparently she didn’t disclose this to te McCain campaign when they were negotiating debates.

  18. You should have labeled this piece “A fairy tale in one desperate act.” I did hear that Reid sent a sternly worded letter to someone and that is it for the Democrats standing up for us. They seem to be afraid of their own shadow or they have lost the way.


  19. “House Speaker Nancy Pelosi has directed nearly $100,000 from her political action committee to her husband’s real estate and investment firm over the past decade, a practice of paying a spouse with political donations that she supported banning last year.”

    A little case of what Truman said– if you want to live like a Republican, vote Democratic.

  20. “October 1st, 2008 8:15 AM Eastern

    oh – oh !!
    by Greta Van Susteren
    I just got confirmed – the McCain campaign did NOT know about Gwen Ifill’s book (I think I told them when I made my efforts to find out!) I am stunned….the campaign should have been told before they agreed to have her moderate. It simply is not fair – in law, this would create a mistrial.”

    This is bullshit! She needs to drop out and not put it on the McCain camp to complain. She has a financial interest in the outcome.


  21. We should tease the obot blogs by saying it’s an outrage! tomorrow’s moderator has written a book titled “The Maverick: Patriotism and Country in the Era of McCain” and see their heads explode. And then link to the actual book.

  22. Naomi Kelin September 22, 2008 wrote :

    “So let’s be absolutely clear: there are no saviors who are going to look out for us in this crisis. Certainly not Henry Paulson, former CEO of Goldman Sachs, one of the companies that will benefit most from his proposed bailout (which is actually a stick up). The only hope of preventing another dose of shock politics is loud, organized grassroots pressure on all political parties: they have to know right now that after seven years of Bush, Americans are becoming shock resistant.”

    I think there are two points she makes that are very important right now: first, there are no saviors. And certainly not among politicians. That includes the wonderful Hillary. She is not a savior. No politician is or can be.
    The second point is for the people not to regress in the face of shock, but to act, from a grass roots level. In this respect RD has done, and is doing, an amazing job.
    I agree that Hillary has the best perspective, and probably the best way forward. She needs to be supported by a grass roots movement, despite the ridiculous circus of two incompetent bozos vying to be POTUS.
    If people could call their congressional representatives and senators and demand loudly for Hillary to be listened to now, it might just work. What’s the alternative? Leaders (not saviors, or wannabees like BO) arise in troubled times. Let’s help Hillary rise. Naive? Maybe so, but these are strange and turbulent times, demanding different answers to complicated problems.

  23. I’m not sure what happened to my last post – can’t remember everything I put in it but I just sent the following message to Janet Brown – thanks WMCB for her email address…”With Ifill’s book The Breakthrough: Politics and Race in the Age of Obama coming out soon it appears that there is a huge conflict of interest here – a moderator should be objective and independent from the candidates – this doesn’t sound so objective. She should not be the moderator”

  24. One problem with Democrats over the last how many decades is that they don’t stand up for anything. They let the Supreme Court take the presidency away from Gore and then many of them attended Bush’s inaugural. That’s the kind of lack of backbone that led many people, me included, to want a change in the DNC. But be careful what you wish for, I guess, because I am crying now. Dean stands up, but in the most crazy and unpredictable ways. He is playing dirty campaign politics now, but the Democrats in the House and Senate are still bending over for Republicans despite their majority. I have zero faith in most of them. The Dems in Congress are now playing with this financial crisis to win for Obama. Who is playing to win for us? The Republicans will just keep lining their pockets. They aren’t playing this crisis for McCain’s benefit at all, but for their own benefits.

  25. The only chance (maybe, though dubious imho) for excising the cancer that has co-opted the party is for O to lose. That is about all you can get out of this election.

  26. If criticism of “the Republicans” in this post means criticism of the Bushies, all right.

    However, if RD brings Reagan into it, I think she owes it to us to tell us what her taxes would have been, over the more than twenty years of her working life, had Reagan not been president, compared to what they are now.

  27. I had not seen the video of the children singing praises to Obama so I tried finding it online this morning and it looks like it’s been yanked. I guess the Obama Secret Police disappeared it. That was fast. Since I haven’t seen the video, I’m not sure which is scarier, the video or vanishing.

  28. gxm
    This link seems to work.

    Is this the one?

  29. You’re right — the youtube is gone. My guess is that the music teacher(?) who posted it was shocked at the negative reaction. How can anyone not be inspired to burts out in song to the glorious transcendent one. “Obama will lead us!”
    Dang, now I wish I’d copied those lyrics.

  30. I have this really bad habit whenever I hear about children being made to sing about Obama.

    I’ll say something like, “If you’re going to serenade the Great Leader with song, then do it right.

    “This one’s kind of catchy…”

  31. I wrote to the debate folks about the moderator, but why expect fairness now? As for the youtube video, too bad that doesn’t appear. I posted it on my facebook page. It was very creepy. I hope some people got to see it.



    Hillary Clinton 2012 Watch (No. 2 in a Series) — Bill Helps McCain on the Housing Crisis

    Please go a post your opinions before the Obamabots take it over.

    Jake Tapper is a real bottom feeder

  33. We have ways of making you vote…

    I did find the “kids for Obama” site. Okay. This has reached scary. Don’t these folks see the Hitler youth similarity? One “idea” on the site is to take an adult to the polls and encourage them to vote for you by voting for Obama. (And report them to authorities if they don’t?) Disgusting!

    Why is the media dissecting every syllable out of Palin’s mouth and not reporting this alarming exploitation (aka brainwashing) of children?

  34. Ah, someone copied part of the lyrics:

    We’re gonna spread happiness
    We’re gonna spread freedom
    Obama’s gonna change it
    Obama’s gonna lead ‘em

    We’re gonna change it
    And rearrange it
    We’re gonna change the world.

    This is part of why I’m afraid of an Obama presidency. People go gaga over him. If he says up is down they say “All hail the wisdom of the One.” I’d rather have a president that people are skeptical of and watch like a hawk.

  35. democratic party? naw there is the democrat party now. fdr wouldn’t recognize it or join it. neither would truman or jfk. do you hear that teddie, you overgrown sellout? the world thinks we are a joke and tell you what i agree.

    hillary? pretty is as pretty does. let her stop campaigning for that dud and work for us. when and if she does that, i’ll be a supporter again.

  36. ps. the You tube video of the kids singing was SCARY. I wrote a comment to the teacher but I am sure it never got approved. Someone accused her of deleting comments that were against her. I told her that if they were singing about Hillary or McCain or Sarah Palin, I would still object. There is and old Nazi video on YOu Tube with children singing about the Third Reich and Hitler. Yup, looks the same to me.

    You should also search “Blacks Against Obama” on You tube. The comments pretty much say that anyone who is black like me and against Obama is stupid and an “uncle tom” to our race.

  37. votermom:

    jvsp’s above youtube link works . . .the video is still there . . .please watch it!

  38. Thanks jvsp. That one worked. As I said, very scary. I can’t believe this is going on and the MSM is not covering it. Of course that might be a good thing. The likes of KO and CM would probably stand up and start singing along!

  39. I just watched Gwen Ifill being interviewed about her book glorifying BO.

    She needs to excuse herself just so that there is no way to accuse her of bias.

  40. Who’s going to buy Ifill’s book (which come out on Jan 20, for g-d’s sake) if JM’s president? No one. Conflict.Of.Interest.

  41. myshiba, I watched it yesterday. So creepy. Those parents ought to be charged with child abuse for letting their kids be exploited that way. Raising them to be mindless lemmings.

  42. gxm
    The “director” of the Horst-wessel choir is revolting in her enthusiasm.

  43. RD I love your work but this post is weird. There is this big tirade against the Sen. bill but hardly any detail. The increase in FDIC insurance is blasted but that to me is a smart move. The FDIC 100,000 insurance goes back I think some 17 years—a little out of date. Increasing that to 250,000 updates that coverage and should help to stabilize confidence in the banking system. FDIC insurance is paid by banks so it requires them to pony up the cost of that reassurance. I realize costs are passed on to consumers but consumers also benefit.

    I understand there is a tax package going with this bill but I have not seen what is in that tax package so it would help if someone could comment on that. I also understand that the bill is going to deal with some of the accounting practices that are making things worse and mark to market orders are causing some real damage. If the SEC does even a temporary lift of that order (which the SEC chair can do), then you will see more liquidity almost instantaneously at no cost to the taxpayer.

    I also understand that Nancy is ok with this. That surprises me because I thought she would block the Sen. moving forward in order to be the leader of the great saving of the American economy.

  44. democratic party? naw there is the democrat party now. fdr wouldn’t recognize it or join it. neither would truman or jfk.

    JFK cut taxes. JFK was a cold warrior. JFK appointed a supreme court justice who voted with the pro-lifers more than some Republican appointees. JFK could speak English and give magnificent speeches, although even his Ich bin ein Berliner was surpassed by Reagan’s Tear down this wall.

    We should be so lucky to have Democrats of the policies of JFK. But obviously, we’re not.

  45. From what I have read, the senate bill will be more GOP friendly than the House one, and the House bill was atrocious. Raising the FDIC limit does nothing but lower the bar to what consistitutes a failed bank. It doesn’t do anything to increase confidence in the institutions themselves.

  46. Mawm — and as I keep saying, this bailout bill will not result in banks lending again and, is therefore, pretty much useless for the “little guy.”

  47. Got a tax bulletin this morning that says under the proposed Senate bill many families would be protected from the alternative minimum tax.
    I’m not sure why it took an economic crisis like this to address the alt min.
    There is also a proposed increase to the child tax credit.

  48. http://www.realclearpolitics.com/articles/2008/10/a_debate_moderator_in_the_tank.html

    if you can stand Michelle Malkin, some interesting stuff on Gwen Ifill
    we are f***ed.

  49. From Brian Wesbury (chief economist at First Trust Portfolios L.P.):

    “Once private investors know they cannot be taken out by accounting rules and illiquid markets, their cash will flow freely. And if the real issue is to find a proposal that will help fix the problems in our financial markets urgently, then the current Treasury plan fails the test. Because of government bureaucracy and legal issues, the first purchases by the Treasury plan will not be made for at least two weeks and possibly four weeks. Mark-to-market accounting changes could start the healing overnight and prevent the U.S. from moving further away from free-market capitalism.”


    Mr. Wesbury is

  50. RD, the FDIC limit should be raised unless you want small business to go belly up. The problem with the Democrats and the Republicans is they are having a hard time understanding the Age of Reagan just blew up in their faces. Actually, you have to go back further than 28 years. It’s about 32 years. Carter was the first president to start the mass deregulation (not that all deregulation is bad). We need to nationalize the banks, which is what is happening, right under GWB, which is rather hysterical. But we also need massive spending to stimulate the economy from the ground up, hence help the little guy before the entire empire collapses. obama is too weak and stoopid to know this. And, clearly the Democrats don’t get it, they didn’t even put the HOLC in their plan. Unbelievable.

  51. Mawm: I think GOP friendly is not necessarily bad. In the House version of this there is no doubt that Repubs were the ones responsible for killing the ACORN give away. I am damn glad that happened. I think the Repubs were outraged at their dear leader for giving them a proposal that was a disaster for them politically and they did a lot of work to make that bill better that certainly was not happening before the McCain cabinet room meeting. I am a 50 year Democrat so I am not usually on the GOP train or even close but I think Repubs have helped significantly. I also think Repubs who voted against this in the house did so for main street reasons. The Dems who voted against it primarily were doing so as a protest vote for stripping the ACORN hand out.

    I do not buy your opinion that the FDIC limit does nothing. You would have to give some supporting detail to make that fly. What I see is thousands of small business owners, local government entities, small corporations that have banking transactions that above that 100,000 level who have their level of concern jacked up by the current situation and I think that insurance gives them some confidence and it also gives the financial markets some confidence. That threshold is just flat out of date.

  52. catarina, on October 1st, 2008 at 9:33 am Said:

    Got a tax bulletin this morning that says under the proposed Senate bill many families would be protected from the alternative minimum tax.
    I’m not sure why it took an economic crisis like this to address the alt min.
    There is also a proposed increase to the child tax credit.

    It didn’t. They do this every year.

  53. Mo Rocca actually has the video on http://www.aol.com today with an article. I don’t know how to link, but it is one of the main headlines, “Let Us Pray…to Obama.” Actually pretty good.

    And most of the comments seem to agree with us.

    As for the bailout, I am in favor of one. It is not a discussion of have and have nots. Everybody does well, or goes down together. That being said, more oversight and protection is needed so the excesses threatening the entire country and allowed by BOTH parties can no longer exist.

    And, I do not for one minute believe that Obama didn’t know it was going to fail last time. There is no way the CBC would en masse defect from him or do anything to not secure him the nomination. Jesse J Jr. threw his own father under the bus for disrespecting Obama. So vote AGAINST him? NO WAY. And then all 12 of Frank’s committee also voted no? Pelosi is too good a pol not to know exactly where the votes were.

  54. masslib

    they do what every year?
    i’ve been watching more and more clients pay alt min every year.

    it seems bizarre to me that a solution would get bundled into
    this bill.
    what does alt min have to do with credit markets drying up?

    it’s a bone.

  55. Oh please, Jangles. If the morons in the GOP or the Dem Party understood what was going on they would be proposing massive spending for the little guy. Investments in health care, alternative energy, science, small business and education. Nationalizing the financial sector is only half of the solution, without the other half this empire falls.

  56. http://elections.foxnews.com/2008/10/01/vp-debate-moderator-pens-pro-obama-book/

    fox is covering Ifill
    I hope they have to pull her.

  57. catarina, every year they raise the AMT. They need to eliminate it but they can’t because their budget projections are based on those revenues, which they know will never be realized.

  58. 2000 mindset. Democrats haven’t been Democrats since before 9/11. When people accept this simple fact, they’ll make a lot more progress, IMHO. Looks like a few others agree.

  59. This is the first time I don’t toatally agree with your post.
    This bailout bill the democrats want to pass does not look good to me. I think there are better solutions out there.

    I certainly agree with your take on the repubklican years and how they have hurt us….that is why I have always been a democrat. BUT, I do not recognize this democratic party.

    They have dirty hands all over this deal.
    Although I always thought independents were just people who didn’t understand the issues and our two party system and merely voted personality, I now am beginning to agree with Lou dobbs….both parties stink and need drastic overhaul.

  60. thank you masslib
    having been a tax professional for 25 years i had absolutely no idea.
    maybe i ought to take up knitting.
    the tone here has become so downright negative and confrontational.
    someone please, wake up the homicidal clown.

  61. John in Ca

    RD owes you nada, zip and zilch. Reagan was the beginning of the Era of fiscal irresponsibility. He put drunken sailors to shame with his profligerate spending. He has more than his share of responsibility for deficit spending. Furthermore, he is also the reason we have problems like the VT shooting. Instead of getting people who need mental help the help they need we dismantled these programs in favor of programs where the mentally ill walk around among us just like Joe Bagofdonuts. The results, ask any Tech student, are disasterous.

  62. Democrats still playing games: No Bailout is the Best Solution for the Economy and the People (Mainstreet)

    The U.S. dollar is soaring (at least in relation to the British pound), the price of oil is plummeting, stock markets are calming in the eye of the storm, the big bad banks are going down like dominoes. At first sight, what’s not to like about the failure of the U.S. House of Representatives to rubberstamp the Bush-Paulson-Pelosi-Reid financial rescue package?

  63. Why in God’s great name would any of us be looking to congress for leadership? Bush and cohorts have failed us miserably along with the “advise and consent” of our elected officials who gleefully, for whatever reasons, benefited themselves at the public trough.

    We have had Chines imports poison animals through the dog food they packaged and sent. This was followed by unsafe toys. Then the food supply ended up tainted with the latest batch of candy being recalled. Anybody hear any form of outrage from our congressional leaders that went very far in curbing this practice? Next to nothing.

    Food being shipped in from Mexico is suspect. The borders are porous. One fool in congress is holding up an immigration bill because he wants the illegals to be able to bring their entire families into the country to drain the economy even more. Silence.

    We have seen unsuitable armor and artillery being shipped to war zones thus putting our treasure at even greater risk. For the most part, silence.

    They have sat by and allowed an idiot president “play” war games in his leisure yet they continued to supply him with the means to further exacerbate this folly by inaction.

    He has been allowed to appoint morons who insist on inserting their wild religious views into policy by preventing adequate healthcare to women and the silence is deafening.

    The Treasury is ruled by people who have outside financial interests and obligations to former employers and congress continued to look the other way. The office of DOJ has been corrupted by partisan maneuvers and aside from a few lackluster hearings, little was corrected.

    Indicted officials are still running for office from the courtroom. Libby is awaiting a full pardon which will more than likely happen by the end of the year. Whistle blowers are villified.

    Today’s mess has been brewing for some time. Giveaways were the order of the day while we were left wrestling with gas prices that takes large bites out of our limited incomes. Jobs are lost. Homes foreclosed. Credit exhausted yet we look to congress for help?

    If so, then we are comatose to the entire picture. No one officially walks away as a winner. We are all losers in this in that we permitted all of this to happen through our own lack of demands. It is much too easy to ignore if you are able to tool off for the weekend in your brand new SUV or shiny new cabin cruiser all brought to you by the policies of the US government. Wish I had an Uncle Sam to pay off my debts.

  64. Jangles, I am grateful to the House Reps for voting no on that bill. I am against this bail-out.

    If more Banks start to fail the FDIC will not have enough money to cover the deposits especially if the cap is lifted. The FDIC will have to be bailed-out by the FEDs. Lifting the cap may temporarily boost depositer confidence, but It doesn’t do anything to inspire more confidence in the banks’ real position.

  65. As I’ve said elsewhere today:

    HOLC (Home Owners Loan Corporation) needs to be part of the discussion, even though Hillary started the conversation on it. It worked for FDR, it helps the homeowner stabilize their mortgage, and that helps the banks by cleaning up their balance sheets. And let the gamblers on toxic derivatives take their place at the back of the line, instead of the front, where Paulson want to put them.

    See WaPo today:


    and see generally:


    Just because there’s a PROBLEM doesn’t mean that giving a trillion dollars to Hank Paulson’s golfing buddies is a SOLUTION…

  66. catarina, I’m certainly not trying to confront you. I am sure people have been squeezed by AMT but they do tweak it every year rather than just eliminate it because of future budget projections. It’s a shell game.

    I just read Idiot Obama has been blaming Bill for all of this because his decision to repeal the Glass-Steagall Act of 1933. Please tell me he is not that stupid. That legislation was outdated. the problem has been that no one created new regulations for the financial sector, which BC tried to do, but was rebuffed. God, Obama is a f*cking idiot.

  67. Thanks for your wonderful, impassioned post, riverdaughter.
    Great comment, CWaltz. People forget that Reagan actually raised taxes on the little guy. I was working as a waitress in the early eighties and, sudddenly, thanks to Reaganomics, I couldn’t pay my taxes for the first time in my life. Tips were to be counted as income and it was assumed that every waitress made fifteeen percent with every check–if only. Ah, that trickle down economy-more like a golden shower for Joe and Joanne BagoDonuts.

  68. Lambert, it doesn’t mean we do nothing either. I have still not been approved by your site. I wanted to tell you to look at what happened to LIBOR yesterday. Tour friend is dead wrong. That’s the biggest jump in LIBOR in one day in decades. The failure to have liquidity in the system is already hurting people. It’s actually already happening. i agree with you, without a HOLC, and frankly, massive public spending, the empire still falls, but nationalizing the banking sector is still necessary.

  69. I’d like to see the bailout scrapped.
    yes, i said scrapped. (would italicize if i knew how)

    start over, congress.
    hold hearings. public hearings.

    surely there are some emergency measures that can be enacted at least on a temporary basis to get things under control.
    Isn’t that what Ireland has done?

    Bills packed with pork and made up numbers are the only option?
    we are being held hostage here.
    ill take my chances-i hate being bullied.

  70. Carolflowery,

    We don’t allow commenters to insult each other here. If you want to repost a more polite and reasonable comment, go ahead. Otherwise, you might want to find another blog or start your own.

  71. I’ve never any luck getting posting privileges at Corrente, Mass. I signed up for my third account yesterday and sent a separate note that if I was ignored again, I’d be done with the site. It’s their loss.

  72. I may be oversimplifying, but the underlying reasons for this is a mixture of God and mammon.

    The Religious Right and their suspect “preachers” are telling their followers that God wants them to prosper and be as rich as Croesus. So spend and charge and send more money while you are at it!

    Greed is the byword. Have it all, have it now, this is “God’s plan”. So we spend, spend, spend because some fool has just delivered a message from God’s mouth to their ears. This is some of the tapestry that has been woven into our daily mindset. Many have mistaken Teddy Roosevelt in the word “Charge!”.

  73. Pat
    you are giving me Tammy Faye flashbacks

  74. Gwen Ifill is moderating the debates while writing a book about Obama? Why not Jay Z or Chris Rock instead? Not much difference.

  75. Pat,

    I have a great idea. How about having Donna Brazile moderate the debate. I’m sure she could be objective.

  76. they should replace Ifill with Lou Dobbs…

  77. Bill didn’t decide to repeal Glass-Steagall-he was presented with a veto-proof bill to sign. What is wrong with Obama? He can’t be that stupid.
    The alt min tax change was passed last week by the Senate. Expected to relieve 20M taxpayers. I think they had to tack this rescue plan onto a bill they already had to get around the rule that the House has to pass a new bill first. I think that explains some of the extras.

  78. bb: Would Donna B covered in Obama for President pins be considered bias?

  79. boston, it really isn’t that easy. yeah, people spend too much and savings are piss poor, but the bigger problem is the lack of real incomes rising, the immense rise in energy and health care and education costs, the rise in local taxes and fees, and the dismantling of the safety net. Even if the banks were great and there were no subprime crisis, the little good would still be fairing poorly. The government simply no longer makes significant investments in the people, and meanwhile spends excessive amounts on defense.

  80. catarina: I like the Lou Dobbs substitution. Is it not possible to turn on the tv and find one person not swooning over Obama? I can’t stand it!

  81. But Glass-Steagall isn’t actually the root cause of this crisis.

  82. Pat

    there’s always Sean Hannity


    Well, I’m out of here before someone tells me I should study economics or cut my wrists!

  83. If I don’t have a job I can hardly be expected to pay my bills. It also has its roots in sending manufacturing jobs overseas in order that our beloved corporations need pay only a dollar an hour to some poor soul and then charging $150.00 for a pair of sneakers. Think of the profit coming back to them.

  84. Stop blaming Reagan for this. Democrats had plenty of chances to stop his policies or change them if they felt they were not right. Including two years that Dems controlled the House, Senate, and the Presidency.
    Senate House
    81-82 R D
    83-84 R D
    85-86 R D
    87-88 D D
    89-90 D D
    91-92 D D
    93-94 D D

    Obama and campaign want to make this totally about the Reps and tie everything to Bush. However, the reality is that Dems are at the center of this crisis with their refusal to regulate Fannie and Freddie. It is real easy to blame Reagan, because he is very unpopular with Dems, and Bush is an easy target to, but if you want to find the real culprits in this mess, you need to point fingers at the people in our own party. Blaming a guy who left office 20 years ago does not make sense.

  85. I actually think Ifill would go out of her way to be fair as a moderator. But it still stinks that she’s moderating, because she now has a financial interest in Obama winning — her book comes out on inauguration day. If Obama is president, her book could be a bestseller. The fact that she moderated the VP debate will help her sell the books. She doesn’t have the name recognition of Lehrer yet, but after the debate she will. It’s mercenary for her to moderate the debate.

  86. Pat,

    No of course Donna could wear her Obama pins and be considered objective. We are in Orwell country now.

  87. votermom,

    Unconscious bias is going to come out, no matter how scrupulous Ifill is on a conscious level. But I already thought she would be biased for Obama before I heard about her book. She shows her bias on her PBS show.

  88. This entire election has been geared toward an Obama win at any cost. I just wonder the expectation that is expected to emerge should he pull it off. Or should I say, how they pull it off on his behalf.

  89. I think it took three months to get my account at Corrente. I tried to send a follow up to Lambert, but I never got a reply, so I gave up. Then one day the login showed up in my email.

    I did find the Confluence through a post at Corrente – so even though my log-on took forever, I still appreciate (some of) the perspectives on the site.

  90. Gary has a new post up.

  91. That I’ve seen on the web there have been a lot of people recommending that “Sarah Palin open her debate remarks by congratulating Ifill on her book and asking her to tell everyone the title”

    Heh heh..

  92. Most of those blogs should have a warning pasted on their front pages: This is an Obama site and no other points of view will be allowed.

    It would save many of us hours of time creating a comment that will either find its way into the spam machine or be banned for life.

  93. Hey everyone – New post up!!!

  94. Call your senators early today to oppose this “new, improved bailout” concocted by the dems (with staff excluded from the room the nite the house voted NO). It’s simply an end run around the house, forcing them to go along with senate bill. It simply adds tax cuts to an already budget busting brew in order to suck in a few more Repub votes so Dems don’t get blamed for letting it fail.

    Each bailout is a bailout to fix the last bailout which was supposed to fix the previous bailout. Meaningful solutions…such as a Security Transfer Tax and HOLC as well as acquiring equity in bailed banks are preferred everywhere it seems except on Wall Street and the Halls of Congress.

    Since taking control in 2006 the Dems have sucked their thumbs, waiting until they could capture the presidency. Then, things will be different! You’ll see! NOT!!! Big business is in full lobby mode…even though Microsoft, among many others, is sitting on billions, they want their gravy. And then there are the banks, still paying dividends to their shareholders….ya think some of that could be redirected ?

    Call…websites are “experiencing difficulty”.

  95. we need a way of stabilizing the markets and preserving our sources of capital. we can also have serious enforcement of the rules the supposed regulators haven’t seen fit to monitor. we can insure that this money goes to places that will help stabalize the economy and do good for the average american and not the ignorant, arrogant, greedy fat cats who got us into this mess. i hope the fbi takes a long, good look at soros and his cohorts.

    anyone who thinks obama will bring a new awakening to america better wake up and either change their tune or get serious help for their delusions.

  96. ifill is a tool and nothing more. anyone who thinks ifill will be fair is in for a sad disappointment. she needs to be sent out the door. i vote for sugar from no quarter to take that tool’s place. don’t assume they’ll be fair. assume they won’t.

  97. In view of that sermon I got upthread, I’ll clarify my comments.

    The issue is not whether I Iike Reagan or consider him fiscally responsible or whether it’s fine to impose cruel taxes on waitresses.

    The issue is that we need *all* the evidence in order to judge whether people in RD’s tax bracket benefited from Reagan’s policies. Since I am an unabashed admirer of RD in some ways, I hope she’ll read this thread and come back with that information.

  98. Mawm, on October 1st, 2008 at 10:24 am Said:
    Stop blaming Reagan for this.


  99. THAT is a great suggestion, stodgie!!

  100. i just called and emailed by senators and representatives. i told them we need to stabalize the markets but not the pocketbooks of the ingrates who got us into this mess. i also asked where is the regulation? enforce it for heaven’s sake. look out for americans’ welfare and not acorn!

    i predict this if the democrats get obama put into the wh(i didn’t say elected), then he’ll be there 4 years but the result will be so negative that the democrats will lose any hope of a majority for decades.

  101. RD that sounds like my years at NYTco out here — always the crack about 3 percent, and no profits — for raises — yeah right.

    I’ll be surprised about Social Sec. If it is still there? When I get there. I have NO FAITH in our gov at the mo. Somebody, somewhere is making out like a bandit, no?

    Sad. It’s always a greedy bad “guy” — McC is for “main street” — O hangs with the likes of Soros —? ps: Gary’s video above? Ugh. I saw that over at Uppity’s — it was sent to me — but I didn’t watch it.

    Creepy. Ugh. The thing is RD, the Dems aren’t Dems — we are!
    But, to be honest, did you and I ever get one free government handout? No. We worked! If you read NQ today you can see the “authoritarian socialism” O’Shamster wants. Give me an effing break. This election has made me realize I no longer care.

    The fabric of our society in a post nuclear-family age is like nothing we ever expected. Horrifying. I have an article you are not going to believe, RD.


    Unbelievable. O’s biggest backer! How is that for back story.

  102. oh ps! RD– I forgot to say, Pelosi, Reid? Are they stalling for time to see a collapse? Maybe so! Cause, they are friends with the Soros dude too — Canada had this!


  103. sorry wrong link!


    read that, you guys ——- this was pubbed back in Jan of this year…..


  104. Pat J. @10:01 – what you said – exactly. Don’t forget all the regulartory agencies which have not been funded since 2000 or, are now totally in the pockets of the people they are supposed to be watching.

    Wish there was an antidote for voters being brain dead. Anyone who thinks BZero is a Dem or the so called D party leaders are Dems are smoking sumpin.
    It is hard to zip lip when someone says they “can’t vote for a Repug” – what’s the other choice? Hillary is not to be considered and she was the only Dem – you know, the issues they used to have and the fighting attitude they used to use.

    catarina – there are only about three people here who are overbearing, not counting drivebys.

    Some of the shit that is happening is having a greater effect on some(finances – health coverage) and it is showing but, to be expected. This truly is a shitty political season with shitty choices.

    United maybe we can do something about some of it.

  105. Joan said ‘Bill didn’t decide to repeal Glass-Steagall-he was presented with a veto-proof bill to sign. What is wrong with Obama? He can’t be that stupid.’

    masslib said ‘I just read Idiot Obama has been blaming Bill for all of this because his decision to repeal the Glass-Steagall Act of 1933. Please tell me he is not that stupid.’ {{{{{crikits}}}}}

    He really really is that stupid. The D leadership really really is that clueless. How much more do they have to shiv us with before it is etched in stone – they have not done one thing to correct Bu$h – the selected one is upon us so they can do the same. This is not your father’s Democratic Party –

    Once again, Clinton shrewdly whittles away at Obama using honesty

  106. How many people’s reputations need to be destroyed in the name of Barack Obama?

    What does he have that others don’t?

  107. Just say ‘no deal?’ I don’t want a deal. This is one of those situations where I would prefer limited Repub positions as a way to soften the fall. Everyone is at fault (market, govt and individuals) and they need to pay for their own mistakes. I want the natural consequence of a tightened credit market to occur. We have got to stop being a debtor nation and debtor citizens.

    I am watching the greedy Ds and the greedy Rs grabbing for a piece of a pie and getting angrier by the day.

    Dobbs had the phone number up if you want to call but I have been able to get through as they are swamped.
    202-224-3121 to express whether you are for or against. I have been e-mailing since I can’t get through.

    Our country is a ‘money pit’

  108. I am almost certain the Senate and House will vote this one through. I actually wrote up something for my blog on the same subject, about how it was inevitable a bill would be passed (click my name).

    Sorry for you guys who want to stop this thing – It might be inevitable.

  109. Jangles: to clarify- I am a progressive Democrat. I tend to the moderate side of progressive. Raising the FDIC limit is great if you have more than $100K in your bank account. Most average Americans do not. Most Americans are $9000 in debt on their credit cards.
    Most Americans do not get massive bonuses. Most Americans are paying a sizeable amount of their salary on housing. Then there’s health insurance and a lot of other stuff that most Americans consider urgent issues but Wall Street does not. By the way, do you know that the GOP is offering doubling the property tax deduction? Most Americans would like that but people in NJ will really like it. It might even swing the state to John McCain but I am content to leave the deduction as it is. Because we need the money for other things that benefit most Americans.
    Here’s the problem: this bailout is being used as a political football. I’m kind of sick of Republicans and investment types making off like bandits when most Americans go begging for SCHIP. No more. It is time the well off felt some pain too. Let’s protect the wealth of the elderly and the working stiff. That would be most Americans. The bailout has to have a rescue plan for US or the GOP and Wall Street can keep it’s hands off of my stack.

  110. RD & Co. — in all the research I’ve been doing into Pelosi/Soros/Obama I came across a youtube that all of you probably know more about than me! Of course! But check this out — it is Howard Dean and I thought the text accompanying this little video was interesting…..

    especially something called the “Austraman Petition” — I tried to Google it and got nothing! Does this video mean something to PUMAS overall? It has only had 573 views —–?

    Here tis!

    read the text though —— GEEZ!

    hugs to all around here!

  111. WTF is Hillary doing helping that mofo anyway?

    you know?

    It makes me outraged at both Clintons. Outraged after everything we saw. At this point, REFORM all the crooked crap. Like this Dean guy.

  112. Since when did the Republicans corner the market on greed, nastiness and corruption? The DEMOCRATS began the legislation to FORCE banks and lending institutions to loan to people who under normal circumstances could not afford a home loan. Every time anyone mentioned that things were getting out of control, the DEMS told them to shut up… everything is fine. Barney Frank, Maxine Waters… there are audio and video clips of them saying there was NO PROBLEM with Freddie and Fannie in 2003 & 2004. While it’s a nice thought that everyone in America own a home and a car, it is NOT reality. Unfortunately, our entire government is corrupt, both Repubs and Dems. They all have their hands in the till via Freddie and Fannie so WHY SHOULD THEY CHANGE ANYTHING?
    The CEO’s, lobbyists and politicians are all excellent bed-fellows. Notice there have been NO criminal charges filed. During the Enron debacle, the politicians were screaming for the CEO’s blood. Whose blood will they scream for with this Fannie and Freddie mess? No one’s, because they are in it up to their own eyeballs. Freddie and Fannie should go bankrupt… those responsible should lose their shirts.
    Capitalism WORKS when the government does NOT meddle in it. You can’t fix broken government entities with MORE government… it just will not work. Vote out ALL incumbents and vote in men who will uphold the Consitution because ALL bail-outs are unconstitutional.

  113. Judging by the bias, the hate and the divisiveness that this election has brought up from the senate to the street corner, I do not think that people on this planet can be trusted to be fair, honest or reliable enough to cut funding for the military; ever. Obama talks so much crap and he pushes the hateful tactics of getting in one’s face; does he not think that hatred is not felt just as deeply by others around the world? Countries that hate us cannot be trusted to not attack us; does the word power in super power get lost? Power is coveted and allows freedom and has to be fought for because everyone would like to be on top; veterans have given too much for this jr senator to just pull out without a really good plan.
    Pelosi, Brazile, Ifill, Dean, Obama and the rest of them are full of crap; biased, ugly, crap. I would love to turn the table on any one of the bs tactics they have used during this railroad job of an election; Ohio is fighting voter fraud today. Change is like a slug in the face; I guess we should get used to road rage, arguing and, in the end, probably even stealing. I am personally disgusted with the Dems; I hope they lose and implode.

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