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Tuesday: Uncle Sam buys the banks

At $250 billion it’s probably a steal.  It looks like the stock markets around the world are responding favorably.  I hope my 401K fund managers snapped up some bargains during the low points.  Are we out of the woods yet?  Hard to tell.

Obama has come out with some proposals to help ordinary Americans weather the storm.  Funny, but he didn’t think some of these ideas were very good not too long ago.  For instance, his foreclosure freeze idea?  Umm, that was actually Hillary’s idea:

Back then, it was “disastrous” and a “fairy tale”.  It took him 7 months to drag him kicking and screaming to the same point.  Which makes me wonder, if we were going to end up with Hillary’s policies all along, why couldn’t we just have the real thing instead of some cheap knock off?

(H/T betuscha)

151 Responses

  1. My thoughts exactly RD-the profits “we the people” get from buying the banks when we sell that stock in 5 years could equal $ 600 billion-a tidy profit to the US Treasury-maybe paydown some of the debt or healthcare or maybe shore up mnedicare and medicade or the social security trust fund!

    At least they will not be spent on the Iraq war!

  2. McCain should make ads of the “before the primary” and after “the primary Obama”.

  3. in London, haven’t been able to keep up much, but in case anyone’s listening: It’s time to release the information, snapshots, witnesses, etc. that Obama was indeed in church that day!

  4. When I heard it mentioned on one of the news shows yesterday that Obama was proposing a freeze on home foreclosures, I thought the same thing. Why is it a good idea now, and it was a “terrible” idea when Hillary proposed it? More importantly, why isn’t the media pointing this out?

  5. My 401k is up 8% this morning. Still down 32%.

    Socialism is Barack – what is anyone’s belongs to Obama.

    I went to sleep early last night. I got a flu shot and my arm is killing me.

    What happened to Corsi on Hannity last night?

    Have to go to Orlando.

  6. Hillary was interviewed on Fox a few minutes ago:
    She said there is zero chance of her becoming Senate Majority Leader & supreme Court Justice. Next to zero chance to running for POTUS again. I think she has left the door open for 2012 depending on the results of this election. She mention something like she will bloom/florish where she is planted and look forward to working hard in the Senate. She will be at the debate in person tomorrow night.

  7. What’s becoming more and more clear to me is that Obama wasn’t taking any of this stuff very seriously back then. Now he’s being forced to address it and an, quelle surprise, Hillary’s plans are just what he’s looking for.

  8. Good morning!

    Yesterday I found out I had a lot of money left in my Flexible Spending Account. Excellent economic news for the Trefoil Household.

    How is everybody today?

  9. Hi RD. FOX discussed the foreclosure freeze this morning. They went off that #3 of Obama plan was Hillary’s plan. They said she proposed it in January 2008, then the Administration was open to it in Feb08 and know Obama took her proposal without giving HRC credit for it. They mention that McCain gave credit to Hillary’s HOLC. They made it clear that he was against this idea in Jan08 (#3 point in his plan) and now he is for it.

    Hopefully McCain watched FOX

  10. Riverdaughter – Ha ha on Obama. He thougth he didn’t have to study for the Economics Section of the exam.

    Obama wanted to start a “national dialogue on r@ce” not a “national dialogue on rates.”

    Math is hard.

  11. If Hillary or McCain says it it is a terrible and stupid idea; if Obama says it it is Original and Brilliant!

  12. riverdaughter, on October 14th, 2008 at 7:36 am

    It is just sad that he is not giving her any credit.

    McCain better do well in the next debate.

  13. Well RD- maybe he should make Hillary his Grand Vizier after stealing the election from her. As with the Sultans of old, he is not able to think on his feet and develop wise policies. He, a borrower of words, is also a borrower of solutions and ideas, for which he will need a well-spring.

    Had we gotten the real thing we wouldn’t need to tolerate the inefficient connection between Hillary’s mouth and Obama’s lips. For years I read all those management and leadership articles, and went to management courses – all of which state that a true leader gives credit where credit is due, is accountable for his/her actions, and produces.
    Obama is a no-hitter (am I using this term correctly?).

    In spite of being accused of being ignorant, racist, dumb, etc. I will still not vote for Obama. I’ve done my research, seen what I’ve had to see.

    Last night I watched a documentary about Nixon’s rise to power. Listening to both Nixon and JFK I found that Obama has lifted entire passages and speeches from both of these men.

    Given what I know, and what he has (NOT) done in Illinois, I cannot trust him to follow through with the plans he proposes in speeches. Each is diifferent and to me sounds like he is placating the masses until he is elected.

    I have not always agreed with McCain, but he puts his money where his mouth is even when it means risking his spot with the more conservative wing of his party. Go over to the repug/conservative blogs and you’ll witness Michelle Malkin slapping her hand to her head in resigned frustration over McCain.

  14. Sadly, BO’s derision of the plan when Hillary introduced it leads me to believe that, just like with FISA & public finance, he is only saying what he needs to say to win & has no intention of carrying the proposal out if elected. IMO, he hasn’t even risen to being a cheap “imitation” off Hillary, he is still just a rank opportunist.

  15. Hi hatshepsut1988, haven’t seen you in awhile.

  16. See you all later.

    McCain is going to win.

  17. angienc, Obama would be about 3-5 days late to any crisis.

  18. I hate these ratf*ckers!!! The rigged the primary against Senator Clinton and stole her policies as they kicked her to the curb. I almost fell off my chair listening to Obama spew her plans after claiming they are wrong headed just a few months ago. He is Dean’s and Pelosi’s mindless puppet.

    I wish I knew why they hated Hillary so much. It can’t be about policy, when they steal her idias regularly.

  19. Maybe Hillary should just write ‘Presidency for Dummies’. The DNC could buy it for Obama (I think that he is like the Queen and does not lower himself to carry money.) and there will be happiness in the world.

    I can’t say that I can blame Hillary for not wanting to be Majority Leader, can you imagine having to be with Pelosi that much?? Seriously, Hillary will have to carve her own place over the next four years and being tied to either McCain or Obama’s ‘accomplishments’ or ‘failures’ would not help her run in 2012.

  20. he is still just a rank opportunist.

    Tell this to all those that think he is a socialist. Obama doesn’t care about anyone but Obama.

  21. Hillary would work for the people truly trying to make life better for the average person. What corporation would want that?

  22. Gov Crist (FL) on Fox. I like him — he’s pretty moderate, ain’t he?

  23. Thanks Arabella, I believe it too. Greta brought up the disparity in the polls of former elections back to Carter. All of the Dem candidates were up big over their Rep competitors but were all defeated except Clinton and Carter in 76. Carter, however, was up %10 in the polls and won by 2 against Ford. And if one remembers, Clinton was in a three way race with Perrot and Bush. Perrot received 18.9% of the popular vote. No one will ever know if Clinton would have won if it had been just him versus Bush Sr.
    Dukkakis was up, Gore was up, Kerry was up but each one of them lost.
    Obama will lose too.

  24. Honora, Hillary saying she doesn’t want to be Majority Leader says to me that she will be running in 2012.

  25. Mawm: Rudy was also on FOX. He reminded everyone the Bush was down 6 to 8 on election morning! I believe McCain will win this if the Repubs watch Obama like a hawk.

  26. And one more thing – I have been happy that this blog has been here for us ex-pats of the Dem party. It has been a place for the open discussion of the reality we see with respect to our party, a reality many seek to deny. And it has been a place where we have allowed ourselves to try to objectively look at the opposing party. We may still not agree with that party’s platform or values, but we have not summarily rejected it out of hand because of its brand label.

    Almost no other blog has offered this. We can discuss the issues at hand or the actions of our party without having to waste time discussing why we won’t vote for Obama.

    I have not been able to do much over the last 6 months, so I am grateful for those like Gary, and Mawn, and Riverdaughter, and the PUMA’s who have been able to go to the front lines and fight the battle.

    And I am grateful to be able to chuckle at the banter between angie and myiq.

  27. McCain will be in my county this Thursday. I can’t go though — I’m such a jinx it would be the ultimate kiss of death for his campaign.

  28. Just as I get my thoughts together, Heidi Li beats me too it. This is a must read, people. Let’s be adults, please.


  29. YIKES!! one of my comments is in moderation. Please let me know where my error is.

  30. I forgot to put the @ in r@cist. Please release me from moderation:)

  31. Gary found more poll craziness last night. I can’t remember which one it was, but they had Obama winning the 65 and older category.

    Yeah right!

  32. Why do some people think that 1)BO is the inevitable winner therefore 2)they must try hard to like him.
    I’ve seen it but I don’t understand how one can go from step 1 to step 2.

  33. votermom,

    A lot of people walking around who look like adults actually never learned how to think critically.

  34. Mawm, on October 14th, 2008 at 8:16 am Said:
    Honora, Hillary saying she doesn’t want to be Majority Leader says to me that she will be running in 2012.

    That’s a wonderful thought! Let’s just hope BO doesn’t go whack-a-mole on us and keep popping up.

  35. Obama would have stolen HOLC idea also if McCain had not beat him to it. Beyond pathetic. So he has her policies, her advisers — now, tell me why she is not the top of the ticket? Makes me angry all over again just thinking about it.

  36. votermom, Maybe some folks are buying the MSM and Camp Obama propaganda. I think that one of the reasons Obama and his minions are pushing the r@cism meme is that they want to dupe people into looking past their valid misgivings about an inexperienced and shallow candidate. Someone really needs to take them to task for such ugly emotional blackmail.

  37. European markets up +5% by early afternoon,Japan closed (+14% yesterday no trading)…overall should be probably a good day for the US


    Hillary is the Elephant in the room.

    This election is now a “Who can do a better Hillary Impersionation.”


    BTW, when McCain adopts Hillary’s policies, I don’t mind so much because AT LEAST he acknowledges them as Hillary’s ideas & his people THANK HER for it.

    Obama discarded the ideas in the primary, now he’s touting them as his own WITHOUT recognizing Hillary.

    That’s ok though, after the debate on October 15 – the Republicans are going to open up such a big can of whoop ass (as they ALWAYS do at the last 2 weeks of the election cycle) that nobody’s going to be able to handle it.

    Stock up on booze as much as you can & pop the popcorn and watch the the fireworks show!

  39. votermom, what is strange to me is that people who have been at this for a year and a half, the longest running Presidential election in US history, would suddenly decide to give up three weeks before the election. Why the capitulation now? It seems like some suffer from premature ejaculation election.

  40. Votermom: Yes, Charlie Crist is a moderate Repub. Jeb Bush was too. I can’t say they are evil incarnate since we still have the right to choose here and they do a pretty good job for Hurricane preparedness. School budget though is a disaster thanks to Crist over the Property Tax amendment with took 350 million dollars out of FLs school budget.

  41. Mawm: LOL!!!!!!!!!!

  42. I think that it is hard for us to understand, we have been living this election for so long, but lots of people do ‘decide’ in the last few weeks. I think that if the market goes up or stabilizes and some of the Obama nasty stuff starts to stick (ACORN registering Micky Mouse to vote (Drudge)), the undecideds may trend McCain. In the primaries they clearly went to Hillary. If O does not get you with ‘changieness’ right away I think that it is less likely to grab you in the end.

    The crazy thing is that it is the stupid stuff that catches people. Everyone knows about the ‘wooden arrows’ in the bailout bill and Mickey Mouse could do the same here.

  43. I do understand that some people can not bring themselves to vote for McCain. But the sad truth is that Obama is likely to win this thing if we do not round up every vote we can for McCain. Even in the blue states I think there is much to be gained by bringing the vote totals close—so McCain does not win MA or CA or NY—but if O wins by a much narrower margin than any other Dem running for POTUS then that sends a message to the DNC and to all Democrats. A message that is loud and clear.

    I also caution everyone about the Dems being up in the polls in past elections only to lose. That is about the GOTV actions. Dems are notoriously bad about showing up on election day and actually voting. I think Obama will have a profound GOTV drive and it will be hard on in the AA and inner city areas that are the most likely to not follow through. If he can turn these people out, that will be a big “change” in the polical history. Thinking about all of this, what comes up for me is the absolute need to scrounge up every single vote possible for McCain in every single state. I see no benefit to voting present with all due respect to Heidi and others—voices I deeply admire and appreciate profoundly. To me, this is all out war for the Democratic party.

  44. I watched The American Experience about Nixon last night. And I still feel angry and sad about Watergate, Cambodia, etc., but I also thought, neither McCain nor Obama has the brains or vision of Nixon. He ought to have been impeached (and it also makes you see how crazy the impeachment of Clinton was!), but I actually found myself thinking that Nixon really want to raise the stature of the US in the world, to have a legacy. Bush/Cheney have destroyed it. And yet, the power of China began with Nixon. He never foresaw the US becoming in debt to that country.

  45. MAWM! Spit alert!

  46. About the markets. Many blogs have been down on the bailout as not hitting home and ignoring completely that Europe was not coming on board. The economic meeting of Europe this last weekend that resulted in their governments coming on board was the important piece that had to play. We probably have to thank Paulson and Bernanke for bringing that event around. It will be interesting to see how the scenarios play out this week in the markets.

  47. sm77,

    I don’t know why Crist remains popular. My property taxes and insurance sure didn’t drop like a rock. For some reason Crist is likeable but I can’t say he has been effective. I think the real difference will come when people like Rubio are no longer in office. While JEB was Gov. he had the “my way or the hightway” mentality. I got that from a number of our Democratic Representatives over the years. As you can see, I am no fan of JEB. The best that I can say is that he was better than W. I think that the last Gov. we had that I liked was Lawton Chiles.

  48. While I understand that everyone’ vote is their own, I agree totally. I will ‘supersize’ my protest vote by voting McCain here in Maryland. Of course, I know that if Obama does not win Maryland, he doesn’t win anywhere. The DNC goes over the trends and numbers in these elections with a fine tooth comb and they will notice when we desert them. I for one am deserting them up and down the ballot.

  49. Somewhat OT: A few examples, I know, hardly constitute evidence of anything, BUT … these responses to such questions as whether people think BO did the right thing by picking Sarah Palin as his VP (yes, you read it correctly!) are both hilarious and disturbing:

  50. I think it is important to vote against Obama in the most effective way possible. A vote for McCain is the most effective way.

    I am thinking that if Obama loses the electorate but
    (oh lord help us) wins the popular vote– there will be hell to pay. Even just having to hear the media outcry will bring ringing to the ears.

    Since Obama copies everything (while miraculously, at the same time, failing to learn from example)– I’m thinking Hillary’s win in the popular vote and the subsequent birth of the independents’ movement– will be shreiking point 1 for Obama-creatures. Meaning, having seen the commitment we have towards Hillary and fairness, Camp Obama will attempt to make a hollow duplicate of that and scream its head off.

  51. FLVoter: Yup, you are definitely right. I didn’t live here when Lawton Chiles was gov’r, but Iknow that Chiles is a hero to some. I’m more familiar with Crist becuase he’s from St. Pete & became att’y general and seems like socially speacking, Crist is a Democrat if he weren’t a fiscal conseravative.

  52. I remember the debates and the moratorium:- she was proposing, he was opposing

  53. What I think is so ironic is that Hillary was apart of the Watergate impeachment hearings back in the day. I think if not for that she wouldn’t have been nearly so prepared for Bill’s impeachment in the 90s. It just seems to me that various moments in her life prepared her for various others.

    When she lost student body president closely to a more popular boy who promptly assigned her to a committee to do all the work–deja vu–she learned that she was work horse, not a show horse. Guess this year she learned to be a little bit of both.

    I don’t know, I’ve been curious for a while to see what she’d say to a 2012 run. I thought she’d say something like this actually. “Next to zero chance.” The Obots aren’t gonna like that.

  54. pm317, on October 14th, 2008 at 8:43 am

    He might have all that but he doesn’t have her passion for the issues. Obama pretends to care while Hillary actually cares.
    Obama reminds me of that Tina Turner song – Private Dancer. He will be anything you want him to be. Right now he is transforming himself into Hillary.

  55. I do not wanna see BO squeezed into a pantsuit.

  56. Oooh, I want to see Obama squeezed into a pantsuit.
    A nice neon orange pantsuit. Then he really can do some community service.

  57. I find this funny.
    Media Matters “debunks” Limbaugh’s assertion “There’s no evidence that Obama has ever written anything prior to this except a poem.” (Y’all remember those apes, right?)
    The debunking:

    Politico reported on August 22 that it found an “an unsigned — and previously unattributed — 1990 article” in the Harvard Law Review about “the question of whether fetuses should be able to file lawsuits against their mothers” and that the Obama campaign “provided a statement on Harvard Law Review letterhead confirming that the unsigned piece was Obama’s.”


    I can’t stop laughing. The Obama campaign had to claim an unsigned and unattributed article about fetuses’ right to life to give Obama writer cred. Yeah, he’ll be a great president. Not.

  58. Worst liberal ever.

  59. Fox is busy hammering away at ACORN. I just hope that the steady dreambeat does not become deadened as a result. This group and its supporters are very well going to be a destructive force in bringing a brand of socialism into this country if allowed a seat at the table as Obama has just confirmed.

    McCain needs to keep this issue alive as Ayer, Wright, and ACORN are closely aligned and Obama seems ripe in handing them to keys to the kingdom. Not a good thing.

  60. My Hillgram this morning informs me Hillary and Bill are out there campaigning with Biden and for all these downticket Dems–isn’t that Obama’s job. He steals her ideas, her time, her personality, her husband’s charisma all for his own use and where is he? Probably inspecting the Obama Youth troops.

  61. McPalin news conference on voter fraud coming up on Fox

  62. On the bottom ticker at Fox, they ran info on Odinga.
    Personally, I don’t get it. With Odinga, Ayers and Wright and ACORN and Rezko and Farrakhan and Phlegm-er… I just don’t get it.
    I find it almost impossible to believe that the repubs don’t have a solid body blow to deliver to the Fake One.
    I guess timing is everything. I hope the repubs haven’t lost theirs.

  63. Although Obama was only 10 at the time, he has been credited with ghost writing the Pentagon Papers. His name may not have been engraved onto the signature page but take my word for it, he was instrumental in its research.

    How do I know? I was told my Media Matters who somehow has uncovered all these hitherto writings and have attributed them to Obama. Oh, and he also discovered the cure for polio even though he had not yet been born. You just have to believe.

  64. From jangles: “Thinking about all of this, what comes up for me is the absolute need to scrounge up every single vote possible for McCain in every single state. I see no benefit to voting present with all due respect to Heidi and others—voices I deeply admire and appreciate profoundly. To me, this is all out war for the Democratic party.”

    jangles has been speaking for me for weeks on this issue. With all due respect–and that is HUGE respect to Heidi and all, if we absolutely do not want BO, there is one thing you do to insure it– vote McCain.

    I guess I still do not get something. If you have accepted that you would be happy if BO lost, then you would have already visited the idea of McCain winning with at least a small amount of pleasure.

    Just my take….

  65. Obama’s certainly adopting HRC’s policies here, but there are good reasons to be cautious about the effects.

    Foreclosures are a problem, but a major underlying issue is the steady deterioration in home values. Eventually prices will bottom out, but there are going to be a lot of people with negative equity in their residences. Since home equity was supposed to be the foundation of individuals’ wealth in the great “ownership economy,” we’re now in a situation where the American public is significantly poorer than the whole economic model predicted. Poorer families means less spending, and sagging demand puts downward pressure on prices, and soon you can say hello to a depression.

    Whether the banks foreclose or not doesn’t materially alter the mess that is their balance sheets, and an extra quarter trillion pumped into the system isn’t going to suddenly turn bad loans into good ones.

    It may not look like the 1930s, but we’ve almost certainly got a few very lean years ahead.

  66. McCain needs to keep this issue alive as Ayer, Wright, and ACORN are closely aligned and Obama seems ripe in handing them to keys to the kingdom. Not a good thing.

    Pat, my dear Conflucian sister, NO WORRIES. The RNC is gunning away at it – this is just a SNIPPET of what’s to come AFTER the debates.

    The best fireworks are saved for the last 2 minutes of the show.

  67. Jangles,

    I disgree that we have to thank Paulson and Benanke for bringing European govts around. Europe is be definition much more interventionistic then the US and the agreed bail-outs are much more significant then the US one if you take into account that the US is much bigger in scale.

    European gov’t have been busy with bank rescues since last summer. One actually might argue the initial rejection of the US bail-out plan pushed global marktes to the brink and probably triggered fears to a level that the European govt needed to intervene in a much bigger scale to restore confidence.

    So, I think the US should probably thank European gov’ts for approving a package 1) very swiftly without any unprofessional mud slinging between parties 2) and without any bizarre additional clauses (which have nothing to do with the financial crisis) which 3) is in size much more comprehensive then the US one.

  68. SM: I am taking the tack that both you and Mawm predict. Two people I trust and usually follow. I have to believe that in the end the American public will reject this shadow of a leader. I refuse to believe we are about to be duped one more time by another unqualified idiot.

  69. Change you can Google.

  70. There should be a contest for anyone who can come up with one original idea ever produced by Obama. My odds of winning the MA Lottery are greater than expecting someone to answer that question.

  71. Regency: Very creative! Love the Google ref.

  72. Bostonboomer,

    probably Bo asked Joey B to write the speech…and we know what he is good at…plagiarizing!

  73. Honora, on October 14th, 2008 at 9:09 am Said:

    While I understand that everyone’ vote is their own, I agree totally. I will ’supersize’ my protest vote by voting McCain here in Maryland. Of course, I know that if Obama does not win Maryland, he doesn’t win anywhere. The DNC goes over the….

    Tell me about it! My neighbor put a Obama yard sign yesterday and I hate looking at it. I am surrounded by houses with his sign though I did see one NOBAMA sign. We (2) are voting McCain our protest votes, if it is not in this election, then when?

  74. Pat J,

    only original idea: having the audacity of actually thinking you could become president without having one single original thought!!

  75. I want to compare McCain & Obama on the 401k & IRA thing, and I hope it comes up in the debate, actually.

    McCain is suggesting that the rule that people reaching age 70.5 start selling their 401ks & IRAs be suspended because the market is so bad. The rule as it is would force retirees to take a big loss at the worst time. McCain’s idea protects their retirement savings.

    Obama wants to let people withdraw money from their 401(ks) & IRAs so they can use their retirement money to pay today’s bills. Obama’s idea will have people raid their own retirement money. This is such a bad idea, because even if by some miracle these people put the money back in their retirement accounts after a couple of years, they will have lost the opportunity to invest now when stocks are at an all time low. $1 invested today is worth $10 next week (or something like that) — it’s called dollar cost averaging and it’s the one proven method of making money over a long period of time in the market.

  76. I hear Bo is a poker player -I am not. But campaigning without an original thought is probably something like a double Bluff…or whatever you call this in poker lingo

  77. vivienne westwood: If you have someone greasing the way, propping you up, excusing your inexperience, turning out fawning crowds, contributing huge sums, covering your tracks, an original thought is unnecessary.

    Just the customary sedan chair to carry you over the finish line.

  78. I think in the debate McCain should point out it was Hillary’s idea and repeat what Obama said about her 90 day moratorium on home forecolsures and challenge why he did not agree with it then.

  79. sm77,

    If Crist could grow a spine, he may turn out to be an okay Gov for a Republican.

    As for Obama, can that man ever come up with his own ideas? His favorite past time appears to be plagiarizing.

  80. It just seems to me that various moments in her life prepared her for various others.

    Some bizarre events happened which led her to situations she had not anticipated.
    Like being the Senator from New York. She hadn’t planned on running for that seat. The NY senator retired and Hillary was encouraged to run and then Giuliani got cancer which helped Hillary in winning that seat.

    I think the same thing happened with Bill Clinton

  81. Obama is the epitome of the result of an uninformed electorate. One need only turn into Leno on occasion when he does his an on the street interview on current events to discover that there are actually morons out there who do not have a clue. But these are more than likely people who will go to the polls and select Obama simply because he appears “cool”.

    Heaven help us!

  82. votermom,

    Obama wants to let people withdraw money from their 401(ks) & IRAs so they can use their retirement money to pay today’s bills.


    not sure in which economics handbook he found this idea, i guess it is the spend-now,die-later principle?

  83. vivienne, no question he has been bluffing his way through this entire campaign. Him being a presidential candidate in itself is a bluff. Nobody has been able to call his bluff because media keeps putting money in the pot on his behalf and pretending he has a winning hand.

  84. pm137,

    maybe the MAC should read some poker books and figure out how to call the bluff!

  85. Some bizarre events happened which led her to situations she had not anticipated.
    Like being the Senator from New York. She hadn’t planned on running for that seat. The NY senator retired and Hillary was encouraged to run and then Giuliani got cancer which helped Hillary in winning that seat.

    Coincidentally, you know who else was rumored to be running for the very seat Hillary inhabits right now? John Kennedy Jr. who died just before he would have run, if had indeed decided to. He would have been a shoe-in. I’m not saying it’s good that he died but it just seems that events did seem to conspire to put her right where she is.

  86. not sure in which economics handbook he found this idea, i guess it is the spend-now,die-later principle?

    Why not? We are in danger of global warming, food contamination, absence of life saving drugs, staggering heating costs, outrageous gas prices, terrorists, nuclear warfare, a devalued dollar, job losses. May as well cash in now as none of us may not be here in 20 years anyway.

  87. A short, snappy literary excursion by guest poster American Lassie on some of the main characters in the ACORN-mortgage affairs…

    Shakespeare, Warlocks and Barack Obama…


    You’ll like how the quotes are used to describe certain politicos…

  88. Every morning I wake up and immediately turn on the news praying for the October surprise. Please, please, surpise me.

    Now back to lurking.

  89. Votermom,

    OMG! How far will the media go to pretend that Obama has any meaningful accomplishments? From the Politico article:

    The six-page summary, tucked into the third volume of the year’s Harvard Law Review, considers the charged, if peripheral, question of whether fetuses should be able to file lawsuits against their mothers. Obama’s answer, like most courts’: No. He wrote approvingly of an Illinois Supreme Court ruling that the unborn cannot sue their mothers for negligence, and he suggested that allowing fetuses to sue would violate the mother’s rights and could, perversely, cause her to take more risks with her pregnancy.

    The subject matter took Obama to the treacherous political landscape of reproductive rights, and – unlike many student authors – he dived eagerly into the policy implications of the court decision. His article acknowledged a public interest in the health of the fetus, but also seemed to demonstrate his continuing commitment to abortion rights, and suggested that the government may have more important concerns than “ensuring that any particular fetus is born.”

    The temperate legal language doesn’t display the rhetorical heights that run through his memoir, published a few years later, but provides insight into his support for abortion rights and expanded social services.

    Oh my! That Obama, he’s a real courageous man alright. Give me a break. Thank you so much for this link. Hilarious!

  90. cool pat… does that mean I can start smoking again? 🙂

    I do miss the occasional cig….

  91. Downticket

    Thank you. Shoot if the McCain people gave me $50 and some software I’ll do it. It’s the simplest way to throw doubt on Obama. The whole Ayers thing is good for right wingers, but his constant policy reversals is more telling.

    And his 90 freeze is sickening. It’s funny how the idea is terrible when his opponent has it, and now it’s the greatest idea on earth. And the most sickening thing was reading how many so called ‘money people’ were dead set against the idea. And now that the sh*t has hit the fan, again, it’s the greatest idea in the world.

    My gut it telling me Obama will lose. Disagree if you want, but polls have a history of being dead wrong. Anyone remember Reagan?

  92. He didn’t even put his name on it! I really don’t like that guy.

  93. I count the McCain vs Obama signs on my way to work. I live in CT. I am pleased to see 2/3 McCain. I think it is the Lieberman effect. McP won’t win here, probably, but at least the state is not entirely infected with Obotulism.

  94. Kim: I have missed you!

  95. BPD: Have at it! At the rate we are going you may as well.

  96. ACORN on Fox.

  97. Regency: You probably have produced more legitimate papers than Obama. Never mind the probably, you already have!

  98. not sure in which economics handbook he found this idea, i guess it is the spend-now,die-later principle?

    Vivienne, maybe Obama’s rational is that when people withdraw 401 & IRA money, they’ll have to pay taxes on it (yes they do) and so that will give him more federal money to spend for him to earmark It’s all good, yeah?

    Bostonboomer, if Obama claimed to write it, it must be Words of Wisdom.

  99. ACORN is denying voter fraud took place. Oh what the hell?>

  100. I am struck by the way that, in the primary, Hillary was considered ‘wonky’ – she was full of plans, policies and ideas. Obama had nothing but saying he was for ‘change’. (For one thing, it is going to change no matter what – and, it is up to Congress to do some things!) Anyway, it really irritates me that suddenly Barky is pulling ‘plans’ out of his back pocket because it now looks like he should have some. (Sort of like “I have a bracelet too.”!) And, apparently he is just taking most of them from other people – his best ‘ideas’ are from Hillary. We could have had the real deal, as others here have said. He just continuously morphs. His ‘ideas’ and ‘plans’ are not things he has stood for all along. He does not take a stand on anything, ever.

  101. OT – I come to this “cesspool of hate” every day because it feels like the only place where I can find some sanity. (And I love the goofy jokes! Who’s got Piper today?)

    Call me “delusional.” So what do you call people who fool themselves that Obama is going to go against all his past “accomplishments” and actually achieve something worth doing now?

  102. Votermom,

    I’m no expert, but it seems to me if people start pulling money out of their 401K’s the problems will get worse. Wouldn’t it be smarter to enourage people to leave the money where it is? I’d like to get Dakinikat’s take on this.

  103. Kim,

    It’s great to see you! I’m glad to know you’re at least lurking, but hope you start to comment more. How is your son doing? Any news?

  104. I would like to think of us as people who have removed the rose colored glasses and are rather expert in sniffing out the bullshit when it is tossed our way. Normal, ordinary people who do not suffer fools gladly.

    I look forward to my daily bath in the the “cesspool”.

  105. BB, good point, overall bad effect on the market as well.

  106. After watching President Dagwood make his usual five minute speech to the nation on the economy then rushing back into the White House before his eggs got cold while leaving it up to others to reassure and educate us on the “crisis”, that this will be how Obama will govern as well.

    The similarities are breathtaking.

  107. maybe the MAC should read some poker books and figure out how to call the bluff!

    The Mac needs to buy the “Chicago Way” books. John Kass can give him some good lessons.

  108. Downticket – should the MAC maybe watch the Sopranos?

  109. I agree Jangles – voting Repub is anathema to me but the only way we can insure that BO doesn’t win is to vote for the next biggest vote getter -so I will vote McCain.

    SM77 – Yes, waiting til the end is a good strategy too, that way the opposition doesn’t have enough time to rebut.
    I know that many of the readers here are young students (even some older students) and while I was doing some research for a client today I stumbled across and RFP looking for someone to propose a study on public communications/ethics – so here is the description and the link – hopefully one of you can benefit from it.

  110. Obama Now In Text Books (From WI Blog)

    “My 8th grade son is in an advanced English class at a public middle school here in Racine, Wisconsin.

    I just found out that my son’s new (copyright 2008) Wisconsin – McDougal Littell Literature book has 15 pages covering Barack Obama.

    I was shocked – No John McCain, no Hillary Clinton, no George Bush – Just Barack Obama. I’m wondering how it is that Obama’s story gets put into an 8th grade literature book?

    It would be one thing, if it was just the tidbit about his boyhood days, but 15 pages, and they talk about his “Life of Service”.

    Honestly, what has Obama really done to be included in this book? Not only that, but on page 847 there is a photo of Obama at the 2004 Democratic Convention with at least 8 Obama signs in the background!”

  111. Regency, on October 14th, 2008 at 9:50 am Said:
    He didn’t even put his name on it! I really don’t like that guy.

    The only thing Obama ever wrote were checks to Rezko & that dismal hairy fig poem.

  112. SM,

    It says at The Real Barack Obama that John McCain plans to confront Obama about his friendships with Ayers and Dohrn at tomorrow night’s debate. Don’t know if that is a good or bad idea, but I think he needs to do it.


  113. Carolynn perhaps we should all write these quesions to the publisher:
    I just found out that my son’s new (copyright 2008) Wisconsin – McDougal Littell Literature book has 15 pages covering Barack Obama.

    I was shocked – No John McCain, no Hillary Clinton, no George Bush – Just Barack Obama. I’m wondering how it is that Obama’s story gets put into an 8th grade literature book?

    It would be one thing, if it was just the tidbit about his boyhood days, but 15 pages, and they talk about his “Life of Service”.

    Honestly, what has Obama really done to be included in this book? Not only that, but on page 847 there is a photo of Obama at the 2004 Democratic Convention with at least 8 Obama signs in the background!”

  114. Carolynn, how can you fill 15 pages with BO? Scary – I rather have 15pg on Britney Spears then Bo!

  115. Joanelle: It’s a game changer strategy Republicans are famous for, just like the Yankees. I am not a Yank fan, but recognize how they pull a win out of their asses at the last minute ALWAYS, like that famous Aaron Boone homerun a few years ago in the 11th inning. I died several times that day.

  116. BB: My son is still in Iraq, but so far, he is okay. Thanks for asking. And a big wave to PJ.

    I am not commenting much because I feel like anything I may say about BO has been said and said and said. Problem is – noone is listening.

    How many times can the American people hear, he has no resume, he plagiarizes, he has nefarious alliances and still not be willing to listen. I mean hell, my dishrag has accomplished more.

    Have you ever just given a BO supporter the million dollar question? When they start ranting and raving, just ask them, “Why?” Used to be my favorite question to someone who should cherish democratic beliefs, but were still Republicans. I would just ask them in a very polite, southern way, Why? Most of them aren’t even aware that down here most of them are repubs because their family was opposed to civil rights way back when.

    It just gets me down, so I come here and you lift me up. If it sounds hokey, get over it, I just need to know I haven’t lost my mind.

    Jesus, y’all said hello and it just spewed outta me.

  117. BB: McCain will open the door and the minute the debate is over…..BA-ZOOM!!!! Off go the final fireworks.

  118. Story on Obama and Acorn in today’s WSJ.


    Which brings us to Mr. Obama, who got his start as a Chicago “community organizer” at Acorn’s side. In 1992 he led voter registration efforts as the director of Project Vote, which included Acorn. This past November, he lauded Acorn’s leaders for being “smack dab in the middle” of that effort. Mr. Obama also served as a lawyer for Acorn in 1995, in a case against Illinois to increase access to the polls.

    During his tenure on the board of Chicago’s Woods Fund, that body funneled more than $200,000 to Acorn. More recently, the Obama campaign paid $832,000 to an Acorn affiliate. The campaign initially told the Federal Election Commission this money was for “staging, sound, lighting.” It later admitted the cash was to get out the vote.

    The Obama campaign is now distancing itself from Acorn, claiming Mr. Obama never organized with it and has nothing to do with illegal voter registration. Yet it’s disingenuous to channel cash into an operation with a history of fraud and then claim you’re shocked to discover reports of fraud. As with Rev. Jeremiah Wright and William Ayers, Mr. Obama was happy to associate with Acorn when it suited his purposes. But now that he’s on the brink of the Presidency, he wants to disavow his ties.

  119. I find it so very hard to believe that Obama could have written anything for the Harvard Law Review and not have his name all over it.

    As for politio referencing Obama’s “rhetorical heights” in one of his abyssmal books? Nah.

    Actually, there was an extremely good law review article written “Should Trees Have Standing?”
    It’d be kind of interesting (in a wonky sort of way) to check the dates on those pieces, and see if
    the anonymous law school student was working backwards from that type of argument.

    One also might want to point out that if Obama (and I don’t buy it) was seriously engaged in whether fetuses
    should have legal standing, then it kind of creates a problem for him when he decides that (through his votes) live born infants have no right to standing.

    I hate Obama. That’s all I can say. Detest him in every way imaginable.

  120. TheRealKim: YOU MUST KEEP POSTING here with us!!!

  121. Clinton doesn’t see a political role beyond Senate

    Being nominated to the Supreme Court?

    “Zero,” Clinton said. “I have no interest in doing that.”

    Running for president again?

    “Probably close to zero,” she said. “There’s an old saying: Bloom where you’re planted.”

  122. I just want to know how “me-too!” is Presidential in any way, shape or form.

    People need leadership right now. They need someone who is unafraid to take controversial stances and who gives credit where credit is due.

    That person is not Barack Obama.

  123. BB: McCain will open the door and the minute the debate is over…..BA-ZOOM!!!! Off go the final fireworks.

    I hope it is not too late for the Mac and his plan works.

  124. The Krug seems to think the Europeans showed us the way and we followed their lead.

    Gordon Does Good

  125. Joanelle, do you have a link to the RFP. I’ve been looking for a good grant to go after.


    I watching FOX but may be on others.

  127. People need leadership right now. They need someone who is unafraid to take controversial stances and who gives credit where credit is due.

    That person is not Barack Obama.

    That person is John McCain but it seems he wants to play the nice guy. He won’t go after Obama on Wright. They are all bewitched.

  128. Madamab,

    see my comment at 9:28 see rescue package. Europe did good.

  129. Kim: I hear you. I was getting so down and pessimistic I took a leave of absence, turned off the tv, shut down the blogs, ignored the newspapers. Worked wonders!

    Not wanting to sound like some harbinger of doom, I too decided to stave off blogging as to not bring the rest down with another unsolicited version of Armaggeddon. Much too depressing.

    But I need my daily dose of the Confluence and the fantastic voices who contribute to keep me balanced. When someone “disappears” a breech is formed and I realize we must all stay strong. Who really knows what November 4th will produce? But standing together we can somehow make a difference. Share and share alike. We are all in this mess together!

  130. Kim,

    I’m so glad your son is OK. You can keep on spewing your thoughts here anytime. Take care of yourself!

  131. Downticket – I never thought McCain would go after Obama on Wright and Ayers. I’ve always thought he’d leave that to the 527’s and his VP.

    That’s what the Republicans always do. Bush never attacked John Kerry’s service, did he? No. Were the Swift Boaters effective? Yes. Did Dick Cheney spread a poisonous cloud of fear right before Election Day? Yes.

    I would stop expecting McCain to be something he’s not. It will only lead to massive frustration.

    Believe me, the sh*tstorm is coming, but it won’t be from McCain. Nor should it be. The President has to seem above the fray in order to have some legitimacy with people who didn’t vote for him or her.

  132. “Me too!” is a cry most often heard on playgrounds. Like, “who wants candy?” Obama displays a lot of that playground attitude. “Pick me, pick me!” What an ass!

  133. vivienne – I agree!

    Thank goodness SOMEONE slipped that provision into the Senate version of the bailout bill. I wonder who it was?

    Oh, and Kim and Pat – HUGS TO YOU BOTH!!! You are rocking, strong women. We need you!

  134. madamab: Don’t know how strong I am but my computer chair “rocks”.

  135. Pat: The thing that bothers me most, is that I have been betrayed by my own party. I have held my nose and voted for years and finally there was a light at the end of that long tunnel. That light just happened to be in a pantsuit, but she was the one and they shot her down. This feels almost like being cheated on by a spouse. I was a yella dawg and damn proud of it. Now, I have to break that long streak and vote republican and I have to do it at the time that matters most. My vote will affect my pocketbook, the environment and most of all my son. Honestly, they can all go straight to hell.

  136. And one of his FOUR POINTS…steal Hillary’s ideas that he wouldn’t agree to before and NOW THEY ARE HIS!

    Change, more like taking someone else’s CHANGE…

    Hillary was the BEST candidate that just happened to be a woman.

  137. Positive impact of financial crisis from the Financial Times

    Iceland appoints women to clean up ‘male mess’

    Iceland has appointed two women to help rebuild its financial system after the banking empire built by its young, male-dominated elite collapsed. Elín Sigfúsdóttir and Birna Einarsdóttir are set to become chief executives of New Landsbanki and New Glitnir respectively, the nationalised banks created in the wake of the crisis. Their appointments are an effort to signal a new culture within the banking system, said a government minister. Landsbanki, Glitnir and Kaupthing – infamous for their aggressive international expansion – collapsed last week under massive debts, bringing Iceland’s economy to the brink of bankruptcy and triggering recriminations, with the UK a popular target. But many have also criticised a culture driven by young, male bankers.

  138. So sorry Mawm – I thought I had attached it to the post
    here you are: http://www.comm.psu.edu/pagecenter/

  139. Madamab,

    The swiftboating of Kerry started in August, right after the convention. McCain doesn’t have a lot of time left. However the polls do seem to be moving back his way the past couple of days. This will definitely be close in the end.

  140. Vivienne – Hah! Never send a man to do a woman’s job!!

    Speaking of which:

    NEW POST UP!!!

  141. Hey, what doesn’t kill you makes you stronger. This will not kill us, so we have stronger to look forward to. PUMA will make the Democratic Party the envy of the world.

  142. Kim: I do not consider my vote to be for the Repubs but a repudiation of all things the DNC has foisted on us. Losing Hillary was a huge wake up call to most of us. Frankly, we could hardly believe our eyes and ears! What happened to her must never, ever happen again.

    There is no there there in Obama. Just a wisp of a man whose only aim is to hear the sound of “Ruffles and Flourishes” played as he enters a room. No ideas, creativity, substance, issues. She had it all. He is a mere cardboard cutout who may prove more dangerous to the country than anticipated.

    Admittedly you have more treasure at stake than the rest of us. That goes without saying. But take comfort in that we are all with you and you son. What effects one effects all.

  143. SOD: Never underestimate the stupidity of the American public!!!

  144. Hillary is a people person-she would not be happy just hanging around with those stuffed shirts on the SCOTUS.

    How come O suddenly wants to help us now when he could have gotten that same help in the rescue bill? He’s the leader of the Party they say so why not lead then? Just more lying for votes if you ask me. Anyone ever ask him how he’s going to pay for everything he says he’;; do?

  145. Vivienne: Iceland appoints women to clean up ‘male mess’
    supported by:
    The only new idea that could save humanity in the 21st century is for women to take over the management of the world. I believe that male dominance has squandered an opportunity of 10,000 years. We men have belittled and ridiculed feminine intuition and on the other hand, we have historically sanctified our ideologies, almost all of them absurd or abominable. The masculine power structure has proved that it cannot impede the destruction of the environment, because it is incapable of overcoming its own interests. For women, on the other hand, preservation of the environment is a genetic vocation. The reversal of powers is a matter of life or death.”
    – Gabriel Gárcia

  146. madamab, it is our job to make the mess. It is your job to clean it up. Can’t you see the beautiful symmetry there?

  147. Joanelle – That is a great lead-in to:


  148. The ACORN chick on Fox was hysterical. Her argument is that there’s no voter fraud because the phoney registrations haven’t tried to vote yet. So everything’s just fine.

  149. I’m hoping Hillary will repeat the Nixon comeback (I am NOT a fan of Nixon, but was fascinated by the way his career developed as described in a recent film). I was watching a PBS documentary on Nixon and how he got to the presidency. It seems that after losing the first nomination run, and the run for governor, he said he would go back to civilian life. He worked as an attorney and began his comeback by simply barnstorming for downticket republicans.for years. He didn’t throw his hat in the ring in 64 because he was sure republicans would lose to the Dems. He just worked very hard in the background. According to the film, by the time the “68 election came around he had done so much work and collected so many favors, he was a shoe-in.

    If Hillary continues to work for the people and the State of NY, she may well be able to run in “12 from a position of strength.

    As for Hillary getting “there” because of Bill – nuts to that. Hillary’s entire life was spent in service, and I remember reading an article, which I have, that she exceeded everyones expectations when she got to the Senate: amongst her colleagues of each party she was known for her hard work ethics, punctuality, discipline, creativity, intelligence, and ability to work across the isles. People said that she was much funnier and “softer” than they thought she would be, but was firm on getting things done.

  150. I noticed that Obama’s cleaning crew got that video off the internets.

  151. just got back from work, fired up the laptop and saw this. {{{{{ thanks RD! }}}}}

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