Senator Clinton Calls for Immediate Action to Halt Market Crisis
By NancyA on September 19, 2008 at 9:40 AM in Barack Obama, Clinton, Current Affairs, Democratic Nomination, Democratic Party, Democrats, Economy, Employment, FDIC, Harry Reid, Hillary Clinton, Housing & Housing Crisis, John McCain, McCain/Palin 2008, National Infrastructure Investment Bank, Obama, Presidential Candidates, Qualifications, Republicans, US Senate, Unemployment
SusanUnPC’s Note: Even my hardcore Republican relatives fervently wish that Hillary were running against McCain because they know that she could address this crisis while they have no faith — none — that Obama will know what to do or make the right choices. Additionally, Ricki Liebermann’s daily newsletter quotes our friend Alegre at Alegre’s Corner on Hillary’s statements — which is what our wonderful writer NancyA is sharing with all of you below:
“Hillary took to the floor of the Senate today to lay out her plan for halting the economic meltdown, and her Senate staff has the video of her speech up online. … [L]isten to what she’s got to say. She’s speaking about what needs to be done NOW to address the economic meltdown taking place up on Wall Street this week. She talks in detail for over 20 minutes and dammit, it just breaks my heart that someone this capable and brilliant isn’t headed to the White House this fall.”
COMPARE AND CONTRAST: Ricki Lieberman and Ann, a No Quarter reader, strongly suggest you compare the video that NancyA has posted below with, ahem, Barack Obama’s video on “solving our financial crisis.” Obama urges everyone to “watch the ad and share it with everyone you know.” Uh, Barack, I think we’ll be sharing Hillary’s video that NancyA put up below.
…………………………………………………………
NANCYA’s post: While Senators John McCain and Barack Obama were auditioning for who could best handle a national economic emergency, Senator Hillary Rodham Clinton released the following statement from her office in Washington, DC. As usual Senator Clinton understands the dangers of this “once in a century” crisis. She calls it “the greatest market upheaval since the Great Depression”. She did the following:
…called for swift and strong action to stem the growing credit crisis on Wall Street. Assailing the Bush Administration for ignoring repeated warnings of the growing crisis and failing to provide adequate oversight of an increasingly complicated market, Senator Clinton offered a series of bold, specific proposals, including creating a new version of the Home Owners’ Loan Corporation (HOLC) to restore confidence in the market, curbing the most damaging and manipulative trading practices, providing relief to homeowners facing foreclosure, and reasserting competent federal oversight.
She outlined several proposals. Here is a list of her proposals:
* Create a new entity to buy up and quarantine toxic mortgage securities that are dragging down the markets which would allow the markets to stabilize. Last spring Senator Clinton was among the first to call for a new entity modeled after the successful Depression-era Home Owners’ Loan Corporation (HOLC) or the Resolution Trust Corporation (RTC) created after the Savings and Loan crisis.
In response, Senator Clinton outlined a series of proposals to address the crisis, a crisis she warned about during the primary:
* Place a temporary moratorium on the most abusive stock transactions, many of which involve the “short-selling” of stocks. Yesterday, Senator Clinton wrote to the Securities and Exchange Commission urging such a moratorium, saying it would provide breathing room for the markets to recover, for investors to make accurate assessments of companies and for regulators to assess what trading practices should be permanently banned.
* Convene an emergency economic summit to show the American people their government is working together. Bringing together leaders in the administration and Congress with lenders, consumer advocates, non profits, financial institutions, and all stakeholders will allow a coordinated response to the crisis.
* Aggressively pursue and encourage mortgage modifications. Senator Clinton has introduced legislation to remove barriers to mortgage modification and to encourage lenders to voluntarily work with borrowers to keep them current on payments and in their homes.
* Restore competent federal oversight of the increasingly complicated financial markets. The rapid evolution of the securities and banking industry overwhelmed the current regulatory framework, resulting in a “shadow banking system” that operates outside of oversight and without accountability.
* Require transparency and accountability on executive pay. Senator Clinton has proposed the Corporate Executive Compensation Accountability and Transparency Act to impose new transparency rules on executive pay, end the accounting techniques that hide compensation, and provide shareholders a say in executive compensation packages.
* Ensure the accountability of financial institutions borrowing money from the Federal Reserve’s new lending facilities. Taxpayers deserve to know that the companies they are bailing out are on the road to recovery and aren’t throwing more good money after bad.
Here is video of her remarks to the Senate yesterday:
The transcript of Senator Clinton’s remarks follows.
Senator Clinton: Thank You, Mr. President. We have seen the financial landscape in our country reshaped over night. The titans of Wall Street have been rendered insolvent or even bankrupt. These are firms that survived the Great Depression, World Wars, the attacks of September 11th, but were no match for a mounting credit crisis allowed to escalate in the shadows of our financial system. The Federal Government has taken over Fannie Mae and Freddie Mac. Bear Stearns had to be rescued by J.P. Morgan Chase after the federal government guaranteed J.P. Morgan’s investment. And while they’re in talks to keep part of the company viable, Lehman Brothers has declared the largest bankruptcy in U.S. history. Merrill Lynch has been purchased by Bank of America and the Federal Government has agreed to rescue AIG. This past Monday we saw the largest drop in the Dow Jones Industrial Average since 9/11. Now even money market funds are affected. For only the second time in our history, one has been valued at less than 100 cents on the dollar. Alan Greenspan has called this a once-in-a-century event. In my state of New York, tens of thousands of hard-working employees have lost their jobs. And the livelihoods of tens of thousands more who depend on Wall Street’s economy are threatened as well.
New York City and New York State, already facing serious economic and fiscal challenges, will now be forced to contend with a battered Wall Street, the lifeblood of our state’s economy. And the sudden collapse of these firms and the government takeover of some have shaken our markets and buffeted the economy as a whole.
Many are now asking, What’s next?
I know that New Yorkers and Americans are deeply concerned and more than a little bewildered. As our markets have grown more complex and interconnected globally, so too have the crises that have emerged. And we are still sorting out the details.
One of the consequences of the secrecy and lack of oversight under the Bush Administration is that we do not know what we do not know. But it is important to recognize what we do know about what went wrong so that we can assess what needs to be done right now to make it right.
What we have seen over the course of the last eight years is an administration that refused to recognize the threats lurking in our economy, no matter what lurked just beneath the surface or what problems were facing middle class families.
Now, we know that many CEO’s are paying lower tax rates than their receptionists. We know that President Bush and those who carry his mantle seek to lower those taxes even further. Middle class families have seen their wages decline even as the cost of living has skyrocketed. This administration has the worst job creation record in 70 years. Millions of families were locked into ballooning and unaffordable adjustable-rate loans as this administration stood by denying there was a crisis. Regulators and regulations designed to keep pace with the markets have been steadily chipped away by Washington Republicans even as companies experimented to the tune of hundreds of billions of dollars in ever more complex and risky financial instruments.
Now, we were reassured that the risk was too diversified and investments too sophisticated to put our economy in jeopardy. Meanwhile, behind closed doors, the cracks were showing as the value of mortgage-based securities slipped day by day by day. And the President and his supporters in Congress repeatedly chanted – and still chant the mantra today – that the fundamentals of our economy are strong.
The administration waxed philosophical when middle class families started facing foreclosures at record levels. The administration and their allies derided my proposals over the last two years to offer assistance to troubled homeowners seeking refinancing as a bailout. They dismissed my concerns and the concerns of millions of Americans even as the storm clouds gathered. They said they didn’t believe the government should intervene and provide borrowers an affordable opportunity to avoid foreclosure. Even when I and others warned the Bush Administration repeatedly from the start of this crisis that decisive action was demanded immediately to help families stay in their homes, that that was the best way to stave off a deepening economic crisis, their only responses were predictions for a soft landing and that the crisis could be contained.
Well, as I traveled throughout our country, I could see that no soft landing was forthcoming.
Many families, hundreds and even thousands of miles from Wall Street, were having their lives turned upside-down by the home mortgage crisis, and the ripple effects being felt throughout the economy, as a consequence of the broken economic policies of the last eight years.
Unfortunately, the Bush Administration waited until this past summer to admit that massive housing relief was necessary. The administration finally supported in concept much of what I had proposed: mortgage modifications, freezes for unreasonable mortgage rate increases, and an expanded role for the Federal Housing authority.
But their response was half-hearted, without adequate resources or a commitment to enforcement. And so the home mortgage crisis slowly but surely eroded the value of risky debt instruments upon which Wall Street firms were depending. The house of houses of cards began to fall. My proposals, as well as those of others, were greeted as too much, too soon. Now we are forced to reckon with too little, too late.
When giant Wall Street firms revealed their dire straits and turned to this administration for the exact same help as we had sought for middle-class families — discounted loans, loan modifications and government-backed lending to weather the storm, Adam Smith was nowhere in sight.
Taxpayers have loaned these banks upwards of half a trillion dollars. And after years of laissez-faire policies for the middle class, the Bush Administration has acted on behalf of Wall Street with the largest and most significant federal interventions in the history of our modern financial system. The largest banks in the world can have closed-door meetings with the White House and the Federal Reserve and the Treasury Department to discuss their bailout options, but millions of homeowners with mortgages worth more than their homes, or who are facing default and foreclosure, don’t have the same opportunity.
And this administration seems to be once again paralyzed.
Now, I represent both the workers and the homeowners and the investment firms. I wish we had taken action long before this for the sake of all of my constituents, but now we must have a concerted, focused effort. I don’t believe we can wait until the next president. I am extremely hopeful and optimistic that we will have a president who will work with us to resolve our economic challenges, but I don’t think we can wait.
However, I do believe we can avoid a deepening crisis. We can take steps right now to address the root causes of what is taking place in our economy to stem the tide of foreclosures and mortgage defaults and the aggregating consequences in the credit markets on Wall Street and throughout the global economy.
But we must cast aside the haphazard, half-hearted approach of this administration and bring every stakeholder to the table to seek out and implement the right solutions. We must be as vigilant on behalf of homeowners and middle class families as we are on behalf of Wall Street firms. We must chart a new course based on the facts at hand, not the ideology at work for eight long years. We’ve tried being reactive. It’s time now to be decisive.
No options should be off the fable, certainly not because they don’t fit into a narrow ideological prism that this administration abandoned — for some — at the first signs of trouble. Ideologues in Washington or in the market who thought that the only danger to the marketplace was the Federal Government are now going hat in hand to that same government seeking help to stay afloat.
So to those who suggest that the steps taken thus far are enough, let me be clear: we may need to take even more significant steps to avoid a self-sustaining cycle of depressed home prices and foreclosures with the consequent effects on the entire marketplace.
We’ve already pumped hundreds of billions of dollars of liquidity into the markets but we still cannot see the end of this crisis. The biggest problem now is that our entire financial market is anchored down by the mortgage securities that are untouchable. We’ve seen the banks and the financial institutions that had the largest exposures to these instruments among the first to fail. But now we’ve begun to see some of the mightiest institutions, even those making a profit, fall by the wayside, the market thrown into upheaval, and others the target of predatory short sellers.
The Federal Reserve has used virtually every arrow in its quiver, from rate cuts, opening its lending windows and in desperation has even created some new arrows through its new lending facilities. By some estimates, the Fed has put out more than a half a trillion dollars through discounted loans, bailouts and takeovers to stabilize the market and the economy. While necessary to prevent even deeper disaster, we’ve seen that the benefits of these actions have had limited effects.
This situation reminds me of that old fable, where people are standing by the side of a river and they keep seeing babies being rushed down the river in the current and they desperately reach out trying to save as many babies as possible. Day after day they’re reaching out. They get new tools, they build a bridge, they get a ladder, they’re constantly trying to get to those babies. They’re hoping that they can save as many, until finally somebody walks up and says, “Who’s throwing them in? Go upriver, find out what the real problem is and stop that!”
The real problem has always been the way our home mortgage system got totally out of whack with new kinds of instruments that were sold many times over with very little regard to the realities of life, human nature, and the inevitable ups and downs in the economy, with the results that until we reach in and fix the home mortgage crisis, we can bail out everybody from here till kingdom come, we will not get a handle on this economic crisis.
So here’s what I believe we should do.
First, in light of historic bank failures, even with the largest federal intervention in the history of the mortgage market, we need a government entity, a modern-day Homeowners Loan Corporation, referred to as HOLC — H-O-L-C — or we need to build on the Resolution Trust Corporation created to help deal with the Savings and Loan Crisis.
Now, I personally believe and was among the very first to suggest that a HOLC, a Homeowners Loan Corporation, could be a preferable way of unfreezing and beginning to fix our struggling mortgage market. Some of my colleagues and many other respected economists and government officials have called for the creation of an entity like the Resolution Trust Corporation, which was created after the Savings and Loan crisis to liquidate in an orderly way the virtually worthless assets that the failed S&L’s held.
Just yesterday in the Wall Street Journal, Paul Volker, and Eugene Ludwig and Nicholas Brady made such a proposal. They said a HOLC, an RTC, we’ve got to come up with an entity that will assume these debts and burdens and begin to work our way out.
Last spring when I called for a modern version of the HOLC, that’s the Depression-era entity that bought up old mortgages and issued new, more affordable ones in their stead, most people did not pay much attention. But I think it’s important to note that by the time the HOLC closed its books, that agency had turned a small profit and helped over a million people keep their homes. And this was 70 years ago. Our population has grown dramatically. So, obviously, if we did it right, we would be able to save a lot of homes. And I think if it is administered correctly it could be actually a net expenditure or even winner for the federal government.
Now, with the FHA reforms that I have long championed adopted this summer in our Omnibus Housing Bill, the FHA could be already a modern Homeownership Lender Corporation. But we need to look to new ways to revive and if necessary create a new market for mortgage securities based on sound accounting, transparent recordkeeping and responsible lending.
A new government entity like the HOLC with a focus on attacking the source of the problem can serve the purpose of clearing a lot of those toxic mortgage securities from the market. We know there will not be any semblance of a normal or orderly marketplace until we have found a way to resolve these mortgage securities that are metastasizing in the bottom of our markets. By taking this paper out of the market and quarantining it in this new entity we will be able to give the market breathing room to recover. We will also be able to set the stage for an orderly sale of these securities and in turn allow some of them to recover and actually regain some of their value. Perhaps just as importantly, not only would our financial markets stabilize but so would our housing markets.
This is an extraordinary measure but it is not without precedent. This is the greatest market upheaval since the Great Depression. We are, indeed, in a crisis, and in times of crisis there are opportunities for leadership. Congress could show the American people that leadership working with the President by embracing this bold proposal.
Second, I’m calling on the Securities and Exchange Commission to take immediate action to address the abusive and manipulative short-selling practices that are rattling the markets, threatening firms and jobs and sending shockwaves across the broader economy. I commend the SEC for yesterday tightening rules against manipulative short-selling. The SEC’s rulings are a positive step in curbing the heightened volatility casting uncertainty on domestic markets and financial institutions. However, the Commission did not go far enough.
As a Senator from New York, I have a special duty to represent the workers of the financial services industry and to try with all my might to retain New York City as the financial capital of the world. The abuses that have disrupted the markets today will impact the lives of so many far beyond New York.
So I think it’s necessary for the SEC to take steps similar to the emergency rule it imposed this past July when the Commission concluded that there now exists a substantial threat of sudden and excessive fluctuations of security prices generally, and disruption in the functioning of the securities markets that could threaten fair and orderly markets.
Conditions now pose a greater threat than they did in July, and several of the institutions that the Commission sought to insulate from abuse do not even exist or certainly not in the in the same form that they did two months ago.
So we need to stay a step ahead, not a step behind. So I urge the Commission, as I expressed yesterday in a letter to Chairman Cox, to move toward a temporary moratorium on all of the abusive and manipulative short-sale practices associated with substantial financial firms like those the Commission identified in July. A temporary moratorium would allow the marketplace to take a step back, take a deep breath, and it would allow the Commission and other regulators to identify and weed out the sources of these abusive transactions.
Moreover the Commission should give close consideration to the many calls for the immediate restoration of the uptick rule, whose repeal has been linked to the recent market volatility and proliferation. I know there are technical problems in terms of moving toward digitized trading but we ought to be able to figure out how to handle those.
Third, I’m calling on President Bush to convene an economic summit right now that brings together leaders in the administration, the Congress, with lenders, consumer advocates, nonprofits, financial institutions and all the stakeholders. Such a summit, I believe, would restore confidence, demonstrate that the entire country is focused on solving the problem we face.
Fourth, I want to propose, once again, that we aggressively pursue and encourage mortgage modifications. I’ve introduced such legislation. I believe it’s important. Ten million homeowners are under water today carrying more than $2 trillion in mortgage debt. That is a huge anchor on our markets and economy. Modification, done right, is a strategy that serves lenders and borrowers as well as the broader markets.
Fifth, it is clear that for too long the rapid evolution of the securities and banking industry overwhelmed our regulatory framework resulting in an entire shadow banking system that operated outside of oversight and without accountability. It’s not enough just to shift responsibility or move lines on a flowchart. We need a new regulatory framework. We’ve been living off of the one from the Great Depression. Now is the time to create a new framework.
Six, I proposed the Corporate Executive Compensation Accountability and Transparency Act to impose new transparency rules on executive pay and the accounting techniques, the high compensation, and provide shareholders a say in executive compensation packages.
Finally, and seventh, I’m proposing that we require any financial institutions borrowing money from the Federal Reserve’s new lending facilities to open their books and ensure accountability and transparency to identify unsound practices. These banks and other entities have tapped the Fed’s new lending windows levels for over $300 billion in capital. They’ve shifted a lot of that risk onto the backs of our taxpayers. These are unprecedented interventions and we should make sure that these companies aren’t using taxpayer dollars to subsidize golden parachutes or risky investments, throwing your good money after bad. If we’re bailing you out we deserve to know exactly your liabilities. And you have to be part of this new regulatory framework.
This crisis has not abated. It’s time for us to start acting like Americans again. There isn’t anything we can’t solve once we put our minds to it. For that we need leadership. I know that our leader, Senator Reid, has said that the Senate will remain in pro forma session. We are ready to work with the administration, to work with the other stakeholders to change course and end the failed economic policies and failure of regulatory oversight that brought us to this point.
Now there’s much more, Madam President, that we need to do. Individuals have to take responsibility. We know that. But in this dynamic environment we must work together to stabilize the market, tackle the root causes that have festered too long, and restore confidence in our economy.
We’ll weather this storm but let’s do it sooner instead of later. Let’s try to save as many boats in the water right now instead of cleaning up the wreckage on the banks. I believe we can do that, and I thank you, Madam President, for your attention, and I hope that we’ll be able to start seeing action very soon. Thank you, and I yield the floor.
After watching the video of her remarks and reading the transcript, I sit here wondering why she isn’t our Democratic presidential candidate. And I remember the sadness and hole in my heart that I felt when I returned home from Montana and knew I would not see her as our candidate or our president this year.
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By Sarah Palin (Release date: November 17. 2009)
The DNC should be ashamed!
This speech would have just won the election hands down. Idiot Democrats!!
As a financial economist, I can only say that the incredible in-depth knowledge expressed by Senator Hillary Clinton in her speech shows exactly the shallowness of Obama’s knowledge and expertise on the economy. Not only that, but remember, most of the architects of this crisis are sitting on Obama’s Finance Committee. Pritzker, the two past Hacks of the Freddie Mac, and a number of Lehman folks are right there on his committees giving him advice. Some one needs to call attention to this and quickly. How can Obama take advice from the same foxes that invaded the chicken coop and speak on changing the situation with a straight face?
He just touched over the CEO thang. Under the bus they go! He wasn’t overly specific about who he was referring to. I’m sure it will be pointed out as his moose hockey press conference is dissected.
His latest buzzword he’s stolen from McCain this week (earlier was townhalls and diners) “Main Street”. Right out of Palin’s speech about how what happens on Wall Street effects Main Street.
OMG he just had a Porky Pig moment…LOL…bedeeba bedeeba bedeeba…
He looks absolutely lost.
Obama’s waiting for others to propose their plans so he can either:
1. Copy it
2. Tweek it to make it better
3. Critize what’s wrong with it but offer no solutions.
Obama never leads the way. He’s a follower who takes credit for what others do.
Stop the hate, Obama!
Don’t you love hearing Obama say the trouble with this election is the petty attacks and smearing–like someone else is doing that stuff!! It’s him, people it’s The O.
God, he sounds just like Bush. Don’t look behind the curtain.
exactly!
According to bo himself, since the problems are petty attacks and distractions, then the problem with this this election is HIM!
It’s September, Hillary can EASILY still salvage this. STEP ASIDE obama, STEP DOWN. DO THE RIGHT THING! If never before or never again in your life, do the RIGHT thing now.
YES, we need REAL CHANGE, change from obama to HILLARY in order to win the election AND save our country!!
Haha, he calls that delegating.
Mccain said in Iowa and in an ad yesterday about raines being one of his advisors. http://www.johnmccain.com/Informing/Multimedia/Player.aspx?guid=167e0847-4068-4b0c-bacf-bea5d277ee68
As much as I think I have moved on, I WANT OUR GIRL! BRING HER BAAAAAAAAACK! WAAAAAA
does anyone have the video of the Democratic Pres. Debates where Hillary said, paraphrased: I have 35 years experience, obama you have a speech?????
cant find it anywhere. NObama’s been busy scrubbing the web and redirecting searches to his website. So much for free press.
Contact John McCain, it is in one of their ads.
CNN used to have all the debate transcripts on their website. Don’t know if they still do though.
I am totally, absolutely, utterly, sick to my stomach that this woman is not our president. Can people not see, with their own eyes, and hear, with thier own ears, the difference in quality between her and what we have to choose from????
My God, MY GOD, what are we doing and what are we thinking???
The MOST QUALIFIED, THE MOST INTELLIGENT, THE BEST PREPARED, THE MOST COMPASSIONATE, ONE OF THE GREATEST MINDS FOR GOVERNING, ONE OF THE MOST EXPERIENCED CANDIDATES TO EVER, EVER RUN…. and she is taken out by a sleazy thug from Chicago who doesn’t have a clue due to nothing more than the color of HIS skin and HER gender.
This is disgusting, atrocious, horrific and unbelievable that two men, neither of which are even comparable to this woman are fighting for the highest office of the land while she is looked over for being a woman.
We damn well BETTER listen to Hillary Clinton and what she has to say because SHE, and ONLY SHE, at this time, has the ability to solve the problems we face. ONLY HILLARY CLINTON would have been the savior to the US Government.
Now, John McCain is a good man, but even he doesn’t have what Hillary Clinton has. He WILL get my vote, no doubt in that, but he isn’t Hillary. I FIRMLY AND COMPLETELY BELIEVE, with all my heart and all my soul, that he will heed her words, that he WILL seek her counsel, that he WILL listen to what she has to say and act on her words because he has the wisdom to realize that SHE, Hillary Clinton, is of the highest caliber in governing and ability. I also know that obama will IGNORE whatever she might say, will act in the polar opposite of what she says, try to show he knows better than she does when we ALL know he doesn’t.
I’m voting for McCain because he has shown us that he values the opinions of others, others who may not be in his party, obama has shown us he is a democratic pawn owned by pelosi, reed, brazille and others.
Unfortunately, I can’t have Hillary, and I would give my right arm to do so, so I will cast my vote to the person who will at least listen to her and seek her advice in hopes that somehow, some way, we can find our way out of the crisis we are in. McCain is NOT bush’s third term, he is not like bush at all, obama is bush’s third term.
Obama would be bush reincarnate, but even less experienced, even less willing to listen to others, even less intelligent (I didn’t think that was possible until now). We can not, we will not give our vote to obama to pound the last nail in the coffin of what was once the UNITED STATES OF AMERICA. I will not allow him to destroy the country that I love. He may have used his chicago machine to cheat Hillary out of the nomination, he may have lied, cheated and stolen his way to the Democratic Nominee, but he WILL NOT BE POTUS.
NOT ON MY WATCH!!!
GO TO HELL BHO, FIGHT IT OUT WITH THE DEVIL AND SEE WHO WINS.
POS but never POTUS!!! for barack hussein obama.
Sniffle, cough. Here’s our girl still fighting for her constituents and for middle America. I hope Nancy Pelosi and Alice Germonds heads explode. Jealous bickering women are standing in the way of progress and of having Hill at the Helm. I hope Karma is swift for these women. There is a special place in hell for them. Hillary is the greatest!
here’s a video with the quote, it’s actually an obama video trying to jab at her, but it looks better on HER than it does on him.
http://www.youtube.com/watch?v=ou4JnWQsxKw
Comment by snosandy | 2008-09-19 10:26:47
This speech would have just won the election hands down. Idiot Democrats!!
Not ALL democrats are idiots, remember, MORE than half voted for Hillary, the DNC, however, installed bo anyway, just like the SCOTUS installed bush.
OBAMA=BUSH, they are one and the same
DAMN RIGHT!!!!!!!!
And they know it, too.
Obama just gave his 4 step plan and prefaced it with:
Sen. Barack Obama (D-Ill.) said Friday that he is not issuing a detailed plan for the financial markets “until I can fully review the details of the plan proposed by the Treasury and the Federal Reserve.” But meeting reporters in Miami, he sketched four principles he said his plan would follow, including “an emergency economic plan for working families.”
“First, we cannot only have a plan for Wall Street. We must also help Main Street as well.
“The second principle I would like to see in the emerging plan from the Treasury and the Fed is that our approach should be one of mutual responsibility and reciprocity.”
“Third, this plan must be temporary and coupled with tough new oversight and regulations of our financial institutions, and there must be a clear process to wind down this plan and restore private sector assets into private sector hands after restoring stability to the system.”
“Fourth, this plan should be part of a globally coordinated effort with our partners in the G-20. This is a worldwide issue, and while the United States can and will lead in stabilizing the credit markets, we should ask other nations, who share in this crisis, to be part of the solution as well.”
http://www.politico.com/news/stories/0908/13620.html
Let’s just say Barack America has no clue what he is doing.
PUMA 2008!
That’s the best he and his 300 advisors could come up with???? Bwahahahaha!
Here is your buffoon on the economy. The repubs eat their own:
http://online.wsj.com/article/SB122178318884054675.html?mod=todays_us_opinion
he has no clue. McCain will never get my vote neither will Obama. Hillary is the only one who had a clue. McCain is a moron on the economy and the war in Iraq. No McSame.
It is too depressing to watch the video. How did we end up where we are today?
Pelosi, Dean, Reid, Brazille…
You said it, Vinnie!
The same folks that created this financial mess are the SAME FOLKS that sit on Obama’s finance committee. Enuf said!
Also, McCain actually sought stronger regulation of financial markets several years ago, as even the Washington Post must admit:
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/18/AR2008091803159_pf.html
Obama waffles, Biden stupidity (along with Kennedy, Kerry, Reid, Pelosi, Brazile and Dean) and some Change!
Go figure. Well, Clinton’s friend, McCain got up early this morning and talked about 1/2 of the stuff Clinton did and exposed Obama’s conflict of interest with Fannie Mae and Freddie Mac which is the cancer and heart of the problem.
PUMA 2008!
P.S. Don’t forget Chicago thug politics
At this point in time, we ALL need to come out with every tiny bit of information we have about BHO, combine it, step forward with it and demand that he step down. It’s our ONLY chance, our LAST chance to perhaps, in some way, entice Hillary into the race in time to salvage it.
At this point, I don’t care if we protect him from right wing radical whackos, we should allow them to do as they will and destroy him politically to the point that he is out of our lives completely. Send him to Kenya, send him anywhere. (I won’t and can’t endorse bodily harm, but I wouldn’t shed a tear, I would be outraged that someone would do such a thing, but I wouldn’t shed a tear). Obama, if he has any sense of moral decency, any sense of patriotism, any sense of what it means to be an American, should step down today and give the nomination to Hillary ahd HOPE and PRAY that she can salvage the election.
We know he won’t, but he SHOULD.
DAMN YOU reid, pelosi, dean, brazille AND obama for taking away our county’s best chance for improvement and continued existance.
And amazingly enough, if you read through this and had the lucky opportunity to hear John McCain’s VERY DETAILED plan this morning, there is a marked amount of similarity in how these two people see the crisis and the way out. No, they are not identical, but you can see the foundations of cooperation in both and that, my friends, is the bi-partisan CHANGE we need in Washington.
All this, while Obama says he’ll ‘wait and see.’ Good lord can’t people see this idiot for what he is?
It’s frustrating, I’m sorry for the rant.
Take care,
Patrick
yes…we see
http://www.youtube.com/watch?v=ZzKdtQ4iFQU
He is waiting to steal from all sources. You see, he is incapable of any original thought or idea or solution. I am so angry, so very angry…
Axelrod hadn’t planned for this in his original Presidential script.
That, and Sarah Palin, are two things he can’t flip right to a page in Alinsky’s handbook for instructions.
At some point hopey changey 8 more years I’m black needs a little more meat.
Yeah, he is busy retooling Hill & John’s speeches, with a dash of anti-Bush speech and Paulson thrown in.
It’s so predictible.
BINGO.
That would make a good ad, that concept, actually…
Yes, listen up McCain guys, there’s another whole series waiting for you of “policies you can xerox.”
mccain should have picked hillary as VP then you would really have seen a seismic change in the political landscape. a new third party — the mccain/clinton party, call it the American party.
I honestly think he might have…but the problem with that is, at this time in history, with one party split in two (democracts), he feared I believe blowing up the other (republicans). I don’t know, honestly, if it would have worked but it definitely would have changed the landscape
Take care,
Patrick
Remember he did ask the question “Can a person from one party become a VP for the other party.”
What the answer came back I do not know. But according to one article I read he did ask the question. For what that is worth.
I can imagine that he put more than a little bit of consideration into it. They’re friends and would have worked beautifully together FOR OUR COUNTRY instead of for ‘barack’s ego’
Right because his minions were WANTING Gov Palin to be Oblahma’s VP back in May! Anyone remember? They went on and on like a broken record about it. ODD isn’t it?
Yes I agree, McCain should have picked Hillary.
She’s great, even my Republican husband keeps saying that and he’s from Chicago.
One thing for certain though is we all must support McCain/Palin, we cannot let Obama become our president. Even Bill Clinton cannot bring himself to commit to that.
Hillary is a great smart lady and I loathe those such as Brazile, Pelosi, Reid and Dean who promoted a dumb, inexperienced African American just because he is an African American. I can think of no other reason for what they did to Hillary and our country. Talk about racism, yes
this has set our country back 100 years. Too bad Hillary isn’t African American for she is really qualified and I guess that is what they were looking for an African American no matter that he is unqualified. This is scary, sad and heart rendering.
I’m afraid that an AA woman as talented as Hillary would never have been seriously considered.
As bad as racism is, even the first AA woman to run for President, Shirley Chisholm, noted that she had more problems running as a woman than as an AA!
I disagree. I believe that an AA woman of Hillary’s caliber would win. A clean record, actions and not deeds, common sense, a no-nonsense down-to-earth character, and a proven record of working for the people would take precedence.
I watch CSPN when congress or the committees are in session and I’ve often asked myself why Sheila Jackson Lee can works so hard and is at her committee meetings (articulate and well informed) and “others” can’t
looking for integrity,
You are focusing strictly on the “color of her skin” in making your assessment. If a woman of Hillary’s calibre could not win, I bet the farm an AA woman of the same calibre would have been dismissed as well.
The argument used to be that Hillary couldn’t get elected “because she’s so polarizing”. Now, Palin is “too inexperienced”, while no one was allowed to seriously question the total inexperience and lack of accomplishment of BO.
The writing is on the wall. No woman would be sufficient enough to win the higest office in the land. Why? Because the Presidency is the last bastion of the patriarchy power hierarchy and control.
What we are witnessing with the advent of two accomplished, strong women running for the two highest positions in our government and the visceral attacks upon them as a result, is the final attempt by the patriarchy to hang on to the last power they feel they are entitled to.
IMO, once a woman finally makes it to the WH, men will no longer be in the position to claim inherent superiority over women.
That scares many men to death because such a change will in some way, in their collective minds, undermine their masculinity.
you’re right. The men do not want a woman president. Hell, they didn’t even want a TV SHOW about a woman President.
I LOVE the SNL skit where Amy Poehler playing Hillary told them to “grow a pair, and if you can’t, I’ll lend you mine”.
That’s EXACTLY what the men are afraid of, undermining their masculinity by having a woman doing a better job. Poor, poor little men, the realization that their appendage has no real power and serves no purpose and doesn’t do anything to make them superior is just too much for them. Their lives revolve around that one, tiny, part of their body and it may well cause the collapse of our great society.
Think of the stereotype, they needed more masculinity, black men are stereotyped as having larger appendages, they nominate a black man….it’s all about the appendage, to hell with intelligence, experience and ability.
He’s really not African American. He’s a mulatto that was born in Kenya. He has no ties to slavery except that his marxist granny’s family had slaves.
Ma Cain should of picked Hillary that does not make sense the fact of the matter is the person who was suppose to pick Hillary did not.
Obama did not care to have Hillary around and in that regard no democrat that supported should give this fool their vote, he should be penalized and reminded of this error every time he thinks of this election.
Obama is the one that robbed the people of America of this chance of having Hillary, Obama because of his ego and wanted to be King found it necessary to shove Hillary out of the door, he did not need her, he was leading in all the polls, he could win this by his self.
We all know the drill so no need to repeat it, but Obama will not get my vote not after what was done to Hillary, I cant be hypocritical and if the DNC does not win this time it will server them right and it will give me the greatest pleasure is hearing others say “we told them so”
Great post.
I feel the same way.
Obama’s ego got in the way.
And he can’t steal the general election the way he stole the primary and I sort of can’t wait to tell the bots I told you so, but it’s going to be sad at the same time because Hill should be the President.
ugh.
Ohitler and the DNC ripped our hearts out and were fools to think we would come running back because of RvW or any other scare tactic.
“wait and see” and now he’s on MSM trying to fudge his way through.
He says I don’t want to get too technical! Means well hang on don’t ask me a difficult question I may not be able to answer.
If he says one more time people need to put food on the table um um um e e err err.. makes me want to scream. Don’t misunderstand me I fully understand people need to put food on the table and gas in their cars..
“a wait and see” President is a no go. May as well put Joe Bloggs in the Whitehouse.
and people says he’s experienced?
He can never offer a plan he repeats every time what is wrong.
Iraq 10 billion each month
Broken Healthcare
Gas
Food…
Has he no plan in his own mind how the country needs to move!
Save us all
he needs to hear more from his advisers first before he says anything…. what a goon.
Can u imagine him in office tested and he says wait while I talk to my advisers??
If I vote for Barack Obama I would be giving my stamp of approval to how the media acted throughout the primaries with their blatant bias, the disgraceful DNC and party elders obvious favoritism of the inexperienced BHO, the Obama bloggers who made threats, spread lies, called and continue to call HRC every vulgar name out there and hacked pro-Hillary websites constantly, calling anyone who supports Hillary racist, and especially the disgraceful cheating (fraudulent) at the caucuses.
Can’t do it.
So why does she stump for this scum bag.I know that she knows he is not the one for the job.I just don’t get it. Please, someone tell me (Why)?
It is a pragmatic move designed to line her up for the party nomination in 2012. She is a smart woman who I would vote for in a New York minute–I want that opportunity in 2012. So if she has to do some perfunctory stump speeches for the Hollow One, I’ll just ignore it so I can vote for her someday.
That was my dream ticket.
I’m hoping for her as a Senate Majority Leader who would actually want to conduct productive business for the country with Pres. McCain. Who should we appoint Speaker when Nancy is impeached?
Comment by jrterrier | 2008-09-19 09:58:23
mccain should have picked hillary as VP then you would really have seen a seismic change in the political landscape. a new third party — the mccain/clinton party, call it the American party.
I would have voted for it without blinking an eye! I would register as the party, I would campaign for it, I would give the maximum donation, I would be the “poster child” if necessary!!! It would have been UNBEATABLE!!
That would have been a trip and I believe it would have flown!
Well, he obviously meant lets wait and see what Hillary’s plan is, so I can steal it and try to sell it as my own. Won’t be the first time.
I agree…McCain tried to warn Congress in 2006 about Fannie Mae and Freddie Mac and they wouldn’t listen. We need to remember that McCain is known for working across party lines but he is only one Senate member. As far as I’m concerned the Democrats are as much to blame if not more. They had the majority in Congress and have they even tried to pass anything to curb this crisis? No, because they all have their head up their ass. They selected Obama as their nominee instead of Hillary Clinton who actually won. What a bunch of fucking idiots they are. Yes, we have a Republican President but Republicans aren’t in the majority in Congress. Instead of spending their time on vacations and running around sniffing Obama’s elitist ass, they could have been doing something about this before it got this bad.
McCain is taking so much from Hillary!
This country lost a great leader in Hillary.
Damn the DNC!
While Obama tells us we need to vote for CHANGE! Uses the crisis for a campaign spot once again. If this guy ends up in the WH this country is truly screwed. He doesn’t know one end of the halls of Congress from the other.
Oblahma doesn’t know his arse from a hole in the ground.
http://www.exposeobama.com/obamaunmaskedinsert091708.html
Radical leftists see Oblahma as their ticket to power—and they are pulling out all the stops.
And what about MEchelle? When she says she’s obligated to put blacks before whites, is she just pandering, or is she speaking honestly?
Would Obama put a gun to the head of an unborn child, but ban all other uses of that gun?
Two plots being hatched by George Soros and David Geffen to steal the White House for Obama – are the most damning things we’ve ever seen in politics.
Would the mad billionaire George Soros run wild in an Obama White House?
I live in Nebraska and have been a registered Independent for many years. I just received a call from the local Obama office asking who I was voting for. I said McCain/Palin because I think Obama is a Marxist. I will say the caller was polite and thanked me for my time. That’s the first time the Democrats have ever called me. I hope it’s because they’re getting desperate. Hee, hee…
P.S. Maverick, you nailed it. I think George Soros is a Stalinist in Capitalist clothing.
Well, there’s always 2012. If not then, then certainly 2016.
:- )
Barry is way over his head. My friends in the financial sector say that the next four year is going to be shit. The question Americans should ask themselves, regarding our economy, is not who’s going to make it better but who won’t make it worse. Guess whose plan they think sucks? Hint, his name starts with B and ends S.
If they believe this, why is Wall Street and the Corporate entities backing him.
WHY?????
PLEASE, put the video of McCains Economic adress this morning up. PLEASE!
It was an extremely good speech. He went after obama and went after wall st. with a plan to attack this disaster.
He adressed the middle class and spoke of creating jobs and making our tax code simple and fair. He spoke of how 5 million jobs in our country are free trade jobs and we must expand markets and cut the corporate rate (2nd highest in the world) from 35% to 25%.
He spoke of a 5000 dollar refundable tax credit to americans for them to CHOOSE their doctor for them and their family.
He spoke of raising the child income tax credit from 3500 to 7000.
He spoke of his plan giving more to the middle class than obama’s and would create growth in our markets with lower taxes across the board.
Lower taxes for family’s, for workers, for small business, and corporations.
He also released a new ad that hilarious. Talking about the obama biden plan of raising taxes being Patriotic.
He threw down the gauntlet and honestly it was the most clear and concise plan i have heard to date.
He also spoke of much more than i listed.
Get this video up for folks to see. McCain has an excellent plan and he went after the administration.
And totally destroyed obama’s argument that his taxes are for the rich. They never were. They are for everyone.
got links?
When Rove was on Hannity last night he was talking about Fannie/Freddie Mac. He hit it on the nail when he said that the whole disaster had EVERYTHING to do with F/FM mismanagement and abuse of using government funded money they receive and using it as their own hedge fund. They allowed companies like Countrywide get away with giving loans that were questionable by not imposing any regulation to take place. The Dems have been the biggest defenders of FFM. $90 Million going into the pocket of their executives…do you know how many lives that money can assist during the foreclosure fallout?
Don’t blame the dems for the current banking crisis. The conservative republicans started it all with the whole hands off the private sector bullshit. LOL they can be trusted, they told us. LMAO it’s self regulating, they told us.
But the funniest thing is the conservatives told us these things from an elected office designed around checks and balances.
Sorry, but the Republicans tried in the late 90’s, 2003, and 2005 to get regulation on them because there was no control. All stopped by the democrats. The democrats have a vested interest in them.
excuse me? the republicans tried to use the government to regulate the private sector? LOL what TV show did you see that on?
It’s called “line your own pockets” at the expnse of the borrower and investors. Lenders tricked investors to buy their stinky notes which were bad loans given to anyone who wasn’t qualified.
Ok, what branch of government is in charge of enforcing regulations? Hint: it isn’t the legislative branch. Therefore, it is the Bush Administration who has failed miserably in stopping these practices that have brought us to the brink of depression.
Look, I am no apologist for Obama and his Dem enablers and those same Dem enablers for Bush. But, it is the Republicans and Bush who wrought this entire mess with their totally wrong ideology and corruptness. McCain did subscribe to that same ideology - I have seen him break on certain things but the tax issue and blaming Freddie and Fannie is bullsh**t. All of the so-called free market financial giants used new, unregulated instruments in this “house of cards on top of house of cards”. Hillary Clinton has been speaking out on this issue since March 2007 and proposing solutions. It has been Bush and the Republicans with Dem enablers who have blocked these plans.
That said, I have no confidence in Obama and Biden is a corporate shill. At least McCain is pushing for more regulation and I believe that he would work with Hillary on this. It is a crime that Dean, Pelosi, Reid, Brazile, etal have done this to the Country - Hillary Clinton is the real deal.
I’m asking everyone to contact their Senators and Congresspeople to urge them to support Senator Clinton’s plan and to do it now. “This is not a game, who’s up, who’s down”; this is our lives, our children’s futures at stake and we can’t wait for either McCain and certainly not for Obama to do the right thing.
I believe that we
Do you know Fannie Mae and Freddie Mac control 50% of the mortgage market?? How is that bullshit? The Democrats have been in control of Congress for almost 2 years and haven’t done SHIT except stick their nose up Obama’s elitist ass. Yes the Republicans are partly to blame but not all of it. McCain is not George Bush..let’s just keep repeating that. Having an R behind his name does not mean his name is George Bush.
Oh, come on. You know the dems are so desperate to elect their puppet/tool that they would at the very least happily watch the economy go down the drain to make the case stronger for electing The Only One Who Can Save The Economy.
If you watched Pelosi etc in that emergency meeting last night, it looked like free advertising to me, and she was just tickled to death to be involved in this emergency.
She makes me ill….. and she is killing America. Wonder if she has ties to the Mafia?
Does Chicago still have Mafia?
Kal, you are EXACTLY right. The Dems want the economic mess to get messier (if that’s even possible — but HRC says it certainly is) so that Oblahblah will get elected. Good post!
Oh you mean her photo op…er pretending it’s an emergency..er it’s a photo op for her re-election.
This isn’t about John McCain. The conservative republicans that sold the country on the lie have been giving John McCain a heaping helping of stink eye every time they look at him. They my by mouthing the words now but he has never been their boy.
The Republicans are NOT the majority in congress and the majority rules…hint hint.
Gosh, are you just ignorant or can you not break out of an ideological box. Read this article http://www.washingtonpost.com/wp-dyn/content/article/2008/09/18/AR2008091803159_pf.html. McCain back in 2002 was calling for more financial market oversight and in 2006 proposed legislation to increase regulation on mortgage companies such and Fannie and Freddie Mac. The Repubs may not of supported it but neither did the Dems. Why? The top seven receivers of donations from Fannie and Freddie were Dems. It is the corrupt Pay to Play system that McCain has been railing about for decades. Bambi is a star player in that league going back to his Chicago machine days. All regulation is not created equal, McCain is for deregulation in certain areas and sectors but he clearly was and is for increased regulation in the financial sector.
alexi,
You are right. Bush/Cheney and the Conservatives are responsible. Karl Rove, the new tv commentator is full of shit.
But where’s 0bama?
This is HIS moment! What better opportunity to show REAL leadership than now, knowing that the Bush/Cheney leadership are the culprits.
But no. He and his supporters are hacking into Sarah Palin’s emails.
I awakened this morning and the feeling of heartbreak of Hillary not being the nominee consumed me to the point of intense anger and hatred for Dean, Pelosi, Brazile, Kennedy - I don’t care if he’s on his death bed, - Kerry and the whole rotten bunch of them for not giving us the most qualified candidate at a time like this.
If I knew things in this country were truly fucked economically over a year ago when the Democratic Primary was in full swing, why didn’t these people who have more information than I do, not know.
But no, their hatred, pettiness and vindictiveness took precedence over country.
To say 0bama is over his head is an understatement. He doesn’t know his ass from his elbow. He’s too busy inciting his supporters to ‘get in people’s face.’
Of course, now that Hillary has laid out a plan, he’ll copy what he wants and make a speech. And his idiot supporters won’t even notice that Hillary, McCain and even Bush, stepped up to the plate before him.
That’s not leadership.
That’s Bush on 9/11 frozen in front of a kindergarten class when he was told that airplanes had hit the World Trade Center. For a shocking several minutes our CiC did not know what to do. And then he tried to play it off as not wanting to scare the children. As if anybody expected him to stand up to excuse himself and tell the kids the truth. How about, “Kids, I have to take an important call now, but it’s been wonderful visiting with you today.” Smile and exit.
0bama is Bush.
And the DNC forced him on us.
They put the country between a rock and a hard place.
No one wants to keep Republicans in charge. But I’ll be damned if I want to turn the reigns over to this know-nothing corrupt, liar who is too inexperienced, unqualified and sorely lacking in real leadership chops.
America needs a leader right now.
If there’s anybody that can prove this man is ineligible to be POTUS, I beg you, please step forward and provide the proof.
The Dems have been the biggest defenders of FFM. $90 Million going into the pocket of their executives…do you know how many lives that money can assist during the foreclosure fallout?
Shameful.
Consider also, that the “dems” didn’t listen to Hillary on this either.
But then Rove is the architect of this whole meltdown. If you think otherwise, you have not been paying attention.
The tax credits are crazy — direct intervention in mortgage and labour markets is needed, not underwriting economic units that already aren’t working well.
Yes please show it…. Maybe McCain will put Hillary in charge of Economics, but we have to defeat Obama 1st.
Let’s see how long before HopeyChangey starts to gradually plagiarize Hillary’s ideas.
Won’t take long.
they r working on the TRANSLATION
And he’ll say he’s consistently said it all along.
And the notion that somehow…my positions are different than Hillary’s is something I have been saying all along uh, er, that this notion somehow makes me see uh, that’s what I said all along and I never said that.
They’re loading her speech onto the teleprompter right now.
LOL! Sad but true…
O/T but had to share this. Where’s Al Sharpton when we need him? I hope this goes viral:
http://media.newsbusters.org/stories/sandra-bernhard-palin-would-be-gang-raped-blacks-manhattan.html?q=blogs/tim-graham/2008/09/19/sandra-bernhard-palin-would-be-gang-raped-blacks-manhattan
the link does not work
My apologies, I don’t know why. However, the site is extremely busy I hope this story is why.
Try to go to http://www.newsbusters.org directly…?
Thanks for the link to this site. I still can’t access the article the traffic is too heavy.
But there is a great article on the home page about 0bama’s ‘Brownshirts’ attacking a Chicago radio talk show host for having 2 Conservative journalists investigating 0bama’s relationship with Ayers.
Go to the site linked above.
Megyn Kelly rips CBC columnist for comparing Palin to “white trash,” porn stars
http://hotair.com/archives/2008/09/18/video-megyn-kelly-rips-cbc-columnist-for-comparing-palin-to-white-trash-porn-stars/
would that mean Barry soeBOBO is half white trash? LOL and I think his dad had the porn star angle covered. BOBO is the whole package. The real deal.
You know if anyone had said that barak obama was like a dressed up version of a drug dealer. And that he applead to the N***** vote. Canda would not have even printed the article, and the little fool who wrote it she would have been called a racist and fired. But yeat you can go and say derragory things a bout a woman and whites, you get called lively, and the article stands for days. See this is where Political Correctivess and the message of tolerence falls off. the only people you tolerate are ones you don’t like. So why not replace poliical correct with respect, and tolerence for acceptence you won’t find people geting away with the reprehensable because at they make a comment about a group no one cares about insulting at that time. Sarah Palin is not someone I would even see as being white trash and yet this is being said about her. This is a middle class white nuclear family, and they are being hailed as white trash? Ohh yeah, and that guy was lying big time, number one he could look up at the camera and number two his face turned progressively redder over the course of the interview. what they need to do is fire her behind and save themselves the heart burn, cause one day she will do it to someone else and get nailed for it.
This is an abomination and the lack of respect is appalling. Oblahma’s underclass of wanna be reporters and gang bangers are helping him lose the election. More and more women will go to McCain camp
WildChild that is simply not true. The dereg bill you are speaking of passed with BIPARTISAN support.
BIDEN voted for it and Bill Clinton signed it into law.
It was our democratic congress members who wanted to have F&F give loans to folks who CANNOT afford them.
Remember that when bush first came to effice he tryed for 2-3 years to pass a bill to get it under control.
McCain tryed to pass a bill in 05 to get it under control.
The oversight is there, BUT THE POEPLE RUNNING OVERSIGHT(CHRIS DODD) was lining his pockets. Barney Frank was another BIG supporter of lonas to folks who had no way of paying.
There is definetly blame on both sides. Democrats are ver responsible on fannie and freddie. That is the truth. Regulation was an issue but the bigger issue was banks giving loans they should not have and then selling them to pass the buck off.
This blame game shit is stupid. Your partisanship is not based in facts my friend. I think Bush is an imbecel. However it is a fact he tryed to stop this and dems were firmly against it.
There are about 8 groups who have oversight of this, so there is regulation they were not regulating though.
And when you see how Fannie and freddie and Lehman and the rest were lining the pockets of Chris Dodd who is the man they to answer to it is absurd to just say it is all republicans. Especially when the bill you refer to was unanimously passed.
I am a dem but to ALWAYS blame the opposing party is STUPID and simply not true.
sorry, but what I say is true. The conservative republicans started it all with the whole hands off the private sector bullshit. LOL they can be trusted, they told us. LMAO it’s self regulating, they told us.
You can trust the private sector but you can’t trust government. That was the idea that changed our country back in the eighties. That was that foundation that made all this happy horse shit possible. LOL I’m not going to let the conservatives off the hook by allowing them to hide behind the word… bi-partisan.
I guess facts just don’t matter, huh wildchild… All Dems and Repubs voted for it, Dem President signed it, Repub. President tried to reign it in, Repub. McCain tried passing legislation to get it under control, Dems Dodd and Frank blocked the efforts but it is all the Republicans fault. Because the real problem is 28 years ago a Republican president won the White House espousing deregulation and all of Washington is incapable of adjusting 3 decades later. It’s amazing you don’t see how ridiculous your argument is….
My argument, is a matter of record. LOL you must have bonged your way through the Reagan administration
“BIDEN voted for it and Bill Clinton signed it into law.”
Well, understand that old hardline dogmatic Democrats generally want more regulations and are averse to repeal the ones on the books.
The GOP on the other hand, wants to do away with all regulations.
Bill Clinton is a pragmatic “New Democrat”, who will proactively add or remove regulations, depending on the conditions.
Of course, the danger of repealing regulations which are already on the books is if a GOP president and/or congress is in charge, it is difficult to impossible to put them back on. Case in point, George W. took over in 2001, and a once robust economy is now in deep doodoo. Really deep.
The disaster of the last 8 years NEVER would have occurred under Gore, Kerry, and certainly not Clinton.
thank you…well said.
But it had clauses on oversight that the Bush administration ignored, as usual.
I’m sitting here at work reading this blog and weeping. I’m weeping because I’m sad and angry.
I curse the DNC. I curse the DNC. Idiots.
Amen.
I agree. Watching this makes me loathe Barky and his bots even more. To think they have the audacity to believe they measure up to Hillary makes me want to slap them blind. Go to hell Obama.
then I think somebody beat you to to the slapping…
The best think the bots can do for us is to continue to do everything they have been all along. They are their own worst enemies and word is getting around off the net about how despicable they have been acting. This translates into votes for McCain.
Ok, WC, how about you hold them down and I beat ‘em about their heads and necks until they spit teeth. My god, it’s like watching a bunch of kids who think they’re running for Prom Queen. Meanwhile, people are dying, losing their homes, and seeing their childrens’ futures washed away. Obama’s campaign is like Lord of the Flies on steroids.
I’m actually willing to settle for the beating they get in NOV. I’ve been stock piling Kleenex and hot coca special for the occasion.
Obama is nowhere near on Hillary’s level. She is lightyears ahead of that thug.
And I feel the same way:
Go to hell Obama, and fuck you!
My sentiments exactly
I want to cry! Hillary should be running for President! Not Mr. “wait & see” Obama!
If McCain doesn’t win, we are going to have a really horrendous 4 years ahead of us! I can just see it! The man without a plan is going to bury us! I’m sure he won’t work with Hillary and will try to keep her “down”, too! His ego couldn’t handle it.
And I’m praying that when McCain wins he has the good sense to bring in Bill Clinton to help settle the economy! Bill worked wonders when he was in office with the economy - we had a surplus. And with Hillary in the Senate or in a cabinet post, at least, we’ll all have a fighting chance to get past this mess because McCain will work with her.
MCCAIN/PALIN 08
HILLARY 2012 (Hillary I’m crying, we need you as President NOW)
I want to cry, but I’m too angry to cry.
I keep thinking that this is all one big nightmare, we are going to wake up and Obama & his thugs are being sent back to Chicago and Hillary will get sworn in as the next President very soon.
Hillary Clinton is what a President should be.
Don’t be sad. But you know what, I hope McCain wins because he will DEFINITELY offer a cabinet post to Hillary. Another coup! What sweet revenge and then it will be the DNC’s time to cry for 4 years!
Hillary/Sarah 2012
Astra14,
You just said a mouthful.
If McCain gets elected, I hope he’s smart enough to focus on being the best one-term POTUS he can be and screw the Conservatives and the Leftwing nutjobs.
Make Bill Clinton the Economy Czar and lets get things under control.
As others have expressed I can not watch the video either. Ohomophobe and the DNC have robbed America of who should rightfully be our next president. Fuck all of you bastards!
McPalin 2008
Hillary/Wesley 2012!
The speech of McCain is so similar!! just the same and we all know the man he is and the honor he brings to the ticket. It is a disgrace that senator Clinton is not running as the President, but the only hope we have is to elect McCain for he is the real Reformer. He will change the way washington functions,
If only The Government and institutions had heeded McCain in 2005, when he spoke of Freddie and its functioning it would have been a different story today.
Shame on pelosi. Reid and co.
I’m a lifelong Republican. I would never have voted for Hillary no matter what but I gave her campaign the maximum $2,300. I did respect what she was trying to do.
In my life I never voted Republican but will be voting straight ticket GOP this election to send a message to the misguided “leaders” of the DNC what they did to Hillary and our country is not acceptable. Please consider voting for Hillary in the general election in 2012. I’m crossing party lines maybe you can too!
amen. and DITTO.
What is funny about that statement is that I am a lifelong democrat and used to think I would have never voted republican no matter what. Then along came Buttcrack Ofraudman. I can vote Republican. Yes, I can.
I never thought anyone could be more dangerous than Bush as president and along came Der Fuhrer Ohitler.
“Buttcrack Ofraudman.” LOL
How about Buttcrap Ofraudman.
This is the stupidest man ever to run for anything. Oh and he’s lazy too.
This is so painful, truly painful to watch.
Hillary Clinton should be the next President of the United States of America, and the sonofabitches at the DNC robbed her.
I’m so pissed.
I hate Obama, I hate Pelosi, I hate Dean and they need to be thrown out of the party and possibly in jail.
Hillary 2012
Re Comment by Patrick | 2008-09-19 09:47:08
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You are absolutely right! McCain’s detailed speech this morning at 9am outlined very similar proposals. Great minds apparently do think alike. It seems McCain even beat Paulson to the gate. Now, all eyes on the Messiah as we await his presence to give us his cut and paste version.
BTW McCain is running some really good ads against Obama on policy issues and kicking him some skinny ass. Kudos to Team McCain.
wild child please. The 80’s-2000 were some of our best economic times.
Again it is not the dregulation. There is regulation
and the Guy in charge is a DEMOCRAT who has recieved more money from these corrupt bastards than anyone since 89.
You don’t think that all that money made him turn his back and cast a blind eye?
BOTH PARTIES ARE TO BLAME>
it is not the republicans Fannie and Freddie called FAMILY.
I don’t care if you refuse to believe democrats can do wrong. you are just plain wrong.
If democrats would not have fought and got F and F to give out loans to folks that could not pay there would be no meltdown man.
Your blinded by parisanship.
We have loads of companies to do regulation. REGULATION IS IN PLACE!!!! If the folks regulating(chris Dodd and barney frank) don’t care then what good is regulation anyway,
we have an alphabet soup of regulatory service. and it did no good. its not the big bad scary republicans this time. You are just wrong and facually innacurate.
also during the eighties democrats were in charge of congress.
So even if you were correct dems let it happen and voted and helped it happen. Your just wrong. Blame matters not. wwhere we head in the future is the issue. and it will take bipartisanship to get us out just like it got us in.
please yourself. The fire burned bright until suddenly we looked around and there was no more wood. All the gas we kept throwing on it made is burn even brighter. LOL it was the brightest it had ever been. But then that’s what you see before you reach the final state of burned up… and burned out.
So what are you, one of those Steve Moore club for growth fags here trying to cover your sorry ass? and blame everybody but you for your initial malfunction?
you did not say one intelligent thing in response to Paul’s comments. go get informed dipshit.
ah, but I did. But it wasn’t the pre-chewed pablum that you’re used too.
obama is about to speak about the economy.I bet he copies what clinton said yesterday.imo
Just watch him on cnn..Now
No thanks I don’t want to vomit.
McCain/Palin - 2008 and I trust McCain to keep on keeping on for America.
Hillary Clinton - 2012 (just wish she had stood up longer and stronger for her supporters - not given in to the corrupt dnc/obama coalition.
And how come no news on the son of the Tennessee ‘Obama supporter’ Dem senator and his hacking - federal offence.
But see, Hillary did stand up for her supporters for a very long time.
The media wanted her to drop out even before she won Ohio and PA!!
The DNC timed this convention to coincide with the anniversary of Martin Luther King’s speech, Al Sharpton was threatening riots against the DNC, and Hillary Clinton would have been blamed for Obama’s fall, and would have been accused of being the most racist woman in the whole entire United States of America.
I think Hillary Clinton is a baaaad woman, (I mean that in a good way) but damn, she had so much sh!t stacked against her, and she is not the superwoman we like to think that she is. She’s human, she will be able to run again in 2012 and hopefully the American people will be able to see bullshit when he is speaking just words from a teleprompter.
When Bush speaks, people
listenlaugh:.
http://tinyurl.com/46j9wb
.
I hope they recordificate that persecution.
Amen!
that ladies and gentlemen could have been our president. That the hell were those morons thinking. At the beginning of the election is was livid with hillary clinton, stayed mildly annoyed with ther during the south carolina debate. Infact the only reason i was voting for her was because i knew she would nail george and the gang, for the mess they pulled in iraq. *which even then I now believe is why she got rail roaded. cause no matter what obama says, blood is thicker than water and so big cousin Cheney could have set this up*. But buy the end of the primaries i was floored by hillary clinton’s back bone, resolved, and competency. And when people asked me why she wouldn’t drop out and promote “party unity” which is the biggest pile cow manure I have ever seen or heard, I told them they couldn’t understand especially if they were men, I would tell them that they couldn’t understand unless they had given birth, because that type of determination is even when it’s hard even when it hurts is what brings us all into the world. Plus we just have better pain tolerance and more determination then men. Well they are about to learn that lesson from five time mom sarah palin.
Here is the little schmuck that hacked into Sarah Palin’s Yahoo email account:
http://politicalkudzu.com/2008/09/18/palins-email-hacked-by-dem-state-reps-son/
Obama out less than one hour after the President’s reassurances by committing 1 trillion dollars.
Obama seems to be a government into himself.
Obama undermining a 1 trillion dollar attempt to restore market confidence.
Obama undermines the President by criticizing it saying that the remedies need to include every family in the country. Undermines by expanding the problem an bringing in the problems with the larger economy, job creation, etc.
Obama is very irresponsible with these statements.
Will the market tumble again. I hope not. This man is reckless endangering our country.
He is incompetent and clearly does not do his homework. I think his “response” was just a need to say something/anything, and it was a cop-out for having no plan at all.
For every crisis that has occurred during this election, he has failed to show he has a real grasp.
We need competent leadership!
Obama: Dude this is well above my pay grade !!!!
Obama: Man, this meltdown is a bitch. It’s a bitch. And did I say that Bill Clinton has an ENORMOUS butt? I’m givin’ y’all $1000, vote for change!
By chance I just happened to tune into C-Span list night just when Hillary started giving her speech. It was great to hear her again, and I learned a lot about the housing/credit crisis from listening.
I am still furious with the Dems. Don’t know if I’ll ever get over it. How can one belong to a party of such stupid people?
oh that is cool wild child. Calling me fag. So classy of you.
Would you agree that the mortage meltdown is a direct result of sub-prime loans???
Also, i make less than 25,000 a year. So i am real middle class.
After you anwer my question of sub-prime i will answer you with who pushed it through.
Also, you do not mind that Chris Dodd the guy Fannie and freddie answer to pocketed loads of money and never sounded the alarm?
Are you also saying the Bush admin NEVEr tryed to pass regulation on F and F? Also, McCain did not predict this mess in 2005?
It sounds to me like republicans were TRYING to fix the mess, that in your words they started and dems would not let them. I wonder why?
Would you agree that the mortage meltdown is a direct result of sub-prime loans???
Also, i make less than 25,000 a year. So i am real middle class and do not give a shit about steve morre. I do care about honesty and integrity and not partisan bickering over who started what when we are there and need a way out.
well, I was tewmpted to call you an idiot but your inability to figure out the reply to this comment feature here at NO Quarter made that obvious. LOL and if you’ll go back up to the post i inquired about it in, the question was So what are you, one of those Steve Moore club for growth fags here trying to cover your sorry ass? and blame everybody but you for your initial malfunction?
from your answer it appears that you are (ROFLMAO) But that’s OK, Steve was on TV a couple months back doing the same thing you are doing here today. LOL you make a good follower.
you dipshit…answer Pauls’ fucking question if you’re so bright…you’re not. get lost.
dipshit? Moi? Apparently you haven’t been reading what I been saying LOL.
Wild child is a protoptype of Oblahma and trying to place blame. Wild Child is ruining the thread.
Time is helping Obama play the race card, while I agree about Clinton what is done is done and Obama will win this thing playing his dirty tricks if people don’t start concentrating on the race we are in now not the one already lost.
McCain Plays the Race Card
http://www.time-blog.com/swampland/2008/09/mccain_plays_the_race_card.html
They are playing the same game as they have done in the past…
Obama Is Stoking Racial Antagonism
http://online.wsj.com/article/SB122178554189155003.html
Honestly that was the first thing i noticed about that add as well, I thought it was a poor choice to place a white woman in that video, because the nuts would go there. Did they not remember britney and paris? Don’t give the obamatrons amunition.
Is he supposed to use a black woman? That would be even worse. I say let them go nuts, let them foam at the mouth, let them get in the wrong face and see what happens.
30yrdem: I’m afraid Obama will win no matter what. The fix is in. This election just looks too much like 2000. The corporatists switched to the Dems this year to throw people off, but it’s Dubya Deja Vu.
Obama answering questions. He seem to have a freak Marxist socialist agenda.
He says that Paulsen and Bernanke agree with him. He seems to be giving advise to them now.
He has to talk to them to get on the job training…it will take a few days for them to teach Obama how it works…
oh, and also i own a house that I payed for with money from my own pocket. Not a loan that i could not afford.
So to assume i made an initial malfunction is awfully presumptious and makes you look even less reasonable and more partisan without a real clue as to what is going on.
well have you noticed…you posted something very informative w details and Wildchild has responded twice but hasn’t said one single thing pertinent to what you said!
I agree by the way….people who took out mortgages they could not afford are partly to blame. I don’t feel sorry for them. I have a mortgage too and got something I could manage even though I was approved for a bigger loan.
There is a combination of Need and Greed involved. Poor people need housing and Rich people thrive on Greed, and take advantage of Need. In fact they prey on Need. Predatory lending anyone?
Fact of life is this. Many of the people who lost their homes, didn’t have much of their own money involved. In fact with the inflated market some bought in, the homes they lost were worth less than what originally paid.
The blame for the sub prime mess should go back to the greed of Congress, both parties. It should go back to people Obama now uses as advisers. Penny of the failed Superior Bank of CHICAGO comes to mind. Her mess led to the Bear Sterns bailout. Uppity woman has had two good article here on this.
The blame can also go to ACORN who Obama has close ties to. The Needs of the poor makes them vulnerable, subject to manipulation by an organization they think is their friend. Come voting time and ACORN their “friend” tells them to vote one way, which way will they vote? Votes can be purchased with more than money.
Any advice Obama offers comes of the fruit of the poison tree.
Barry’s plan:
ahhhh….hmmmm….uhhhhh…ehhhhh…
I like Clinton and I know most people will blame the Republicans but let’s not get all delusional about this. The Democrats have their hands in this too.
And as far as giving homeowers money to pay their mortgages and freezing rates, Mr. Obama was against her policies as well. One example of how the Democratic party has a part in this fall.
Spare me the partisan politics.
Joe Biden’s Financial Worth
On August 24, 2008 in a TV interview, Howard Dean said this: “biden is, “one of the least wealthy members of the U.S. Senate.”
According to official records, Biden net’s worth is $150,000 and his earned income is as follows:
Biden either uses the laws he helped write for the 35 years in Senate to hide his worth putting everything in his wife’s and/or family’s names, or he isn’t very good at budgeting his income.
Either way, there is a problem. Why isn’t this being questioned?
I thought Bin Biden was worth less than that. He drinks up all his money and abuses his wife behind closed doors. Poor thing. The mysogyny has come unhinged.
oh that is cool wild child. Calling me fag. So classy of you.
Would you agree that the mortage meltdown is a direct result of sub-prime loans???
Also, i make less than 25,000 a year. So i am real middle class.
After you anwer my question of sub-prime i will answer you with who pushed it through.
Also, you do not mind that Chris Dodd the guy Fannie and freddie answer to pocketed loads of money and never sounded the alarm?
Are you also saying the Bush admin NEVEr tryed to pass regulation on F and F? Also, McCain did not predict this mess in 2005?
It sounds to me like republicans were TRYING to fix the mess, that in your words they started and dems would not let them. I wonder why?
Would you agree that the mortage meltdown is a direct result of sub-prime loans???
Also, i make less than 25,000 a year. So i am real middle class and do not give a shit about steve morre. I do care about honesty and integrity and not partisan bickering over who started what when we are there and need a way out.
Any of you guys heard anything about this rumor?Let me share some info with you that I have gotten from excellent sources within the DNC:
On or about October 5th, Biden will excuse himself from the ticket, citing health problems, and he will be replaced by Hillary. This is timed to occur after the VP debate on 10/2.
There have been talks all weekend about how to proceed with this info. generally, the feeling is that we should all go ahead and get it out there to as many blog sites and personal email lists as is possible. I have already seen a few short blurbs about this - the “health problem” cited in those articles was aneurysm. Probably many of you have heard the same rumblings.
However, at this point, with this inside info from the DNC, it looks like this Obama strategy will be a go. Therefore, it seems that the best strategy is to get out in front of this Obama maneuver, spell it out in detail, and thereby expose it for the grand manipulation that it is.
So, let’s start mixing this one up and cut the Obamites off at the pass - send this info out to as many people as you can - post about it on websites and blogs - etc etc
why are you letting people distract you with this rumor?
Don’t believe a word of it.
Why don’t you cite your specific sources, please?
hey, did I miss something? that post about equal-pay was scrubbed?
This idiot Obama does not what is talking about yet is willing to risk the entire effort of the President and the Administration just to score his political points.
This is outrageous. I can’t believe what is happening. I can’t believe this incompetent nincompoop is getting this attention by reporters and that he is saying the things he is saying.
Can’t he shut up his stupid mouth. There is a government that was elected until Jan 19, 2009 to deal with these issues. He is not the government.
He is being reckless with his stupidity.
Bush was just on. I didn’t tune in in time for entire thing, but it is bad when the President gives short speeches. It was also reported that we are days away from a total financial collapse. The short sellers are driving solvent banks into ruin.
However, Hillary Clinton is right. If we just “bail out” then we are only throwing good money after bad. We are kicking the can down the road in exchange for even more trouble. The private sector has been dismantling the regulations from the Post Depression area for the last 30 years. The argument was that was then and this is now. However, when the last stop gaps in short selling were removed along with some “new fangled” terms and products, “then” has become “now” all over again.
The stock market is rallying again with hopes of salvation from the feds as these incompetents go hat in hand to the taxpayers for help. However, the taxpayer is also leveraged up to the eyeballs in debt. If there is no accountability put into the system it will be the Wiemar Republic intervention with the same results versus the too little too late disaster of Hoover.
To me, the selling off of the notes is a huge open door to Fraud. They should not be allowed to sell off loans that they made. They should service their own loans and keep them. The fraud will stop right there.
Biden getting kicked off the ticket will not happen. It is just a rumor and Hillary and Bill will not be a part of this mess. It would ruin her shot at president.
And, with a month left there would not be enough time to roll the change of VP’s out and rationalize it to america. Also, no one would believe biden left for health reasons. America would see it for what it is.
I agree. It’s not going to happen.
Did anyone understand what the hell Obama’s financial plan was, I was trying hard to understand between the uh and ahh but…..help please
Vague, name dropping, blaming those dern CEO’s (whom are his advisors, oopsie), buzzwords, Obama Math, blah blah blah.
I think this press conference was above his pay grade, he seemed lost.
I never know what he’s saying either. Most people hear a charade of incoherent ramblings, lofty goals and misleading rhetoric. When he opens his mouth he’s lieing. They need to have a whistle of bull horn to yell TIME OUT!
He implied that as a Dem he will be looking for a different plan that the one the President proposed and that Dems may not be supporting the President.
The debates are coming up,and I think many sitting on the fence,are just waiting for Obama to screw up…I hope he ends up having to start,and McCain busts him.I can really see Hillary helping out McCain,if he’s elected..I sure hope people wake up,and votes McCain/Palin..
Thanks was just wondering if I was being bias because I wanted to be fair to Obama and listen to what he had to say, unfortunately I did not come out after hearing that speech feeling as if he knew what the hell to do to fix this financial problem…lord help us if this man wins this election.
Obama can’t handle the stress LoL
You see how his upper cheek tremble in closeup. Or was it only that he didn’t have teleprompter.
He look like scared child IMHO
Absolutely, Senator Clinton could handle this crisis, and any other!
I do take exception to some of the partisanship though.
Since 2006, the Democrats have chaired all the commitees…Dodd, Franks, Rangle.
They should have stopped celebrating and started working! On something besides the next campaign, you think?
thank you also….voices of reason. I can’t stand George Bush Jr. but he doesn’t make all the decisions or we wouldn’t have Congress. The Democrats fucked up.
Funny. Is it a coincidence that since 2006,when the Dems took over the majority of Congress, the economy and housing market has tanked? Food & Gas prices as well as unemployment steadily
rose since Pelosi and the Dem congress took power.
Thank you Madam Obama, and the DNC. You sure did screw up.
Obama, and handle stress? He’ll be hmm…uhhhh…ahhh…. He’ll be thinking for so long that the opposition makes a decision. Obama would make a pathetic president.
Nancy, Excellent piece. Thank you.
How heartbreaking that Hillary is the leadership we could have had going forward. No wonder Obama chickened out of doing any more debates with Hillary after the beginning of April — in a fair fight, she made him look like the incompetent, incoherent bumbler that he truly is.
The DNC leadership should hang their heads in shame. But I forgot, they have non.
Yep, he played rope-a-dope with her and the party knowing the “fix was in” with the officials, and that he would get the party decision. I think it is short sighted to think that Obama needs to “win” the election to “win” in this election. He has setup for himself… on democratic donations an entire network of “Camp Obama” organizers. I am not so sure he might not come out ahead using his Alinsky model of control… if he actually can lose this and at the same time make the case to his followers that
hethey were unjustly robbed of it somehow. He appears to be able to cause economic disruption at this point without actually being President of anything… Just food for thought.What can be done?
What ever IS done it will not be enough to “solve” the problem.
No one is willing to take responsibility for anything.
Anyone care to guestimate how many TRILLIONS of Dollars have vaporized this year?
And so what does the Fed do? Pumps more paper into the market. So much for the dollar, trade deficits and national debt.
What a sad sad mess.
Lot of very good comments and opinions here..
You all are right to be angry ..disappointed..and frustrated..Our system and government are out of Control..Our represenatives and administrators are failing us..They are just TRAITORS..in the sense that they all are Undermining the United States and betraying the trust and confidence of the American People..Everything now is a Blame game..
while those responsible for this Mess Play the POWER and MONEY game..
No Integrity..No Responsibility..No REALITY..No Resolutions..Just RHETORIC,,or..in Plain Language
BULLSHIT..
None of this Economic Mess happened during the Clintion Administration…Those were good times compared to today..
The Bush Administration has Damaged The United States every way possible..and betrayed the Public trust far beyond the Clinton Indescretion..Which was Investigated every way possible,,,costing $85 million dollars ..and lasted all during the entire Term of the Clinton Administration..
WSo now…as a Final Act..(almost) to add to Our economic Woes…and add another Bush Administration Failure to the Long List..since the Failure to Prevent 9/11..(which WAS Preventable)..
The Bush administration just Bailed Out More Wall Street (CORPORATE ) Companys..which just added to the BLUGING United States BUSH deficit another DEBT of $8,591 DOLLARS for EVERY TAXPAYER in the United States..
So..How can Barack Obama ..who supported this Bailout…Create His Multi Trillion Dollar Socialist Utopia if he is elected Zpresident..??
The United states just cant tolerate that kind of additional DEBT…Our Government is to Vunerable to Economic Sabatoge Now..That would cause the MOTHER of All DEPRESSIONS..
I agree with John McCain that the Head of the SEC should have been fired..The SEC took the Caps off Leveerage limits in 2004 and eleminated Transparency..STUPID POLICY..like every other BUSH Policy…STUPID..GREEDY..SELF SERVING..DESTRUCTIVE..
NO OVER$SIGHT….$$$$$$$
I still wish we had Hillary..they were Brilliant..and Problem Solvers..real Ideas..
I still think I will just write in HILLARY CLINTON…
The Real research would be who knew what when…?? and why did the SEC Take off the Leverage Limits in 2004..??
Where were the Checks and balances..??
What warnings were being Ignored..?? where are they Published..??
Are BOTH the Congress and
the Bush Administration out to Bankrupt and destroy the united States..
How many more Comparisons can be made to ROME..?/
Hi Teak…
We can’t go back. We can only hope that Obama does not take the White House. I do think that if McCain wins, HRC will be relied on heavily.
oh and Wild Child, It was Bill Clinton and dems who pushed for and made sub-primes a practice.
So, if you agree that the mortage meltdown is from ridiculous loans that should not have been given by the bank and not accpeted by the person requsting.
Sub-Prime is a DIRECT result of our democratic party.
Again though just hurl insults and assume. Do not answer questions and retreat to your respective partisan corner because in your eyes it is never a democrat.
Read my posts and i laid it all out. All truth.
Your just skirting the issue.
You can call me an idiot if you choose i would prefer that to “fag”
But the only one that is an idiot is the guy/girl ignoring facts and i think the poeple posting know who that is.
Nice chatting with you Wild Child.
Again, the bill Clinton signed had provisions for oversight and Dubya ignored them. Bill Clinton was the best president this country ever had.
You’re awful touchy for a guy who keeps calling me on another line to continue our conversation. LOL But the fleeing certainly suits you.
Obama’s plan was the same as Bush’s plan. He couldn’t come up with anything different.
Bloomberg.com has the plans and calls Obama’s the same as Bush.
That puts a hitch in Senator Obama’s battle cry of Senator McCain being Bush 44 - doesn’t it?
Over the past eight years we’ve watched one Federal agency after another failed. FEMA couldn’t even get a case of bottled water into New Orleans after Katrina, Wal-mart was there with trucks of supplies long before FEMA took action.
The FDA is useless. From drugs to lettuce, whether manufactured or grown in this country or another, we have no idea whether what we’re swallowing will kill us.
Now we find out not only has no one been watching the mortgage industry and Wall Street from the executive branch, Congress (Republicans when they had the majority, the Democrats since they gained the majority) has been raking the cash in from both to turn a blind eye.
Great.
Now the plan is for the taxpayer to bail out Wall Street, the banks on Main Street and the homeowners on Elm Street. How will the taxpayer do it? Who are we going to borrow from this time? Does China have any money left? Or are we going to print more money we can’t back up? What ripples will come back to dig us in deeper in the months and years to come? All because the executive branch and Congress couldn’t be bothered to do their jobs over the past eight years and say no to our financial institutions.
So just WTH is going on? The first time the two parties can work together they are working to give Bush even greater power and sink the voters into insurmountable debt and probably higher taxes. I love how the Bush administration talks as if this is just an act of God or something. THEY CAUSED it and now WE have to pay for it, AGAIN! Sounds to me like Dodd and Obama are okay with it.
We should rise up and say that we won’t agree to anything unless we can have Hillary in the WH. I suspected the Democrats were up to thuggery with Bush and here it is.
OMG! Barack Obama’s plan is to give people $1000! It’s Bush redux. Yah, that’s going to pay your mortgage, right? Can you see these clown sitting in a backroom saying, “Let’s see, what would be a lot of money to a bitter white gun-clinging, Bible-clutching cracker?”
Sure, as if all they could grasp was refilling the beer refrigerator, buying some more ammo, and maybe getting a new TV from Wal-Mart. There is probably a certain level of condescention under there.
What a shame that Hillary was pushed out, it irkes me all over again today - I think I’ll become bitter now! And sour!
When McCain wins, he will work closely with Hillary, he knows her and respects her. Should stinky feet, against the odds, win, we are doomed.
Stinky feet is doomed. Stinky feet meets the Aryan Nation.
I like the McCain ads linking Obama to Fannie Mae. I think it paints a good picture of what an Obama economy would look like: corrupt institutions doling out favors to friends and pretending to solve problems but in reality making things a lot worse.
I bet that’s what his alternative energy policy will look like: Political pork to buddies that comes back in campaign contributions and just makes energy prices higher.
tristan — The New McCain Ads linking Obama to Fannie May and Freddie Mack which show Franklin Raines and Obama together is being called racist by Karen Tumulty of Time Magazine. She said that just the fact that 2 two men are in the ad together is racist. Its getting insane out there.
Every time I hear this magnificent woman speak I am reminded of how bitter I am (along with many others) who know full well that HRC was shoved out of the race in favor of a far less experienced candidate. It makes me sick to think of what could have been. I’m sorry for all of us — and certainly for our country. Now is a time when we need the best we have in talent, experience and judgment at the very top of our government — and, sadly, we’re not going to get it. At least not yet…
OH — and every time the DNC asks me for money — I tell them, “Sorry, I am helping Hillary pay off her debt.” That’s another PROMISE they failed to keep!
[...] And beyond women’s rights, if you want to see a progressive and a true leader in action on the economic front, watch and read here. [...]
oh darn it all…now obama will figure a way to put all this in his own words and take credit….
I agree with a previous poster…One of the best reasons to vote for McCain is that he will actually work well with Hillary. Her ideas will be taken seriously and often implemented under his watch. With Obama, forget it.
I cannot cannot cannot wait until the first debate, which is about the economy! McCain has so much ammunition…I really hope he knows what to do with it.
The only good thing about her not being President, is I still get to have her as my Senator. I think she was talking about more than just New Yorkers, when she was talking about her “constiuents”.
Damn he sucks, sucks, sucks, sucks. Obama sucks.
I remember that somewhere in all the discussion about Palin that Bill Clinton did not have a lot of foreign policy experience other than promoting his state’s product abroad. In conjunction with that I assume that the governors of the states that have common boarders with Mexico and Canada interface with those nations on behalf of the state’s economy.
In light of the above I have a suggestion for Sara Palin based on the following:
Russian President Dmitry Medvedev said during a meeting today with non-governmental organizations that the United States, instead of “trying to be clever,” must begin discussions with Russia on how to overcome the consequences of the crisis on the US stock market. He said that the problems caused by the U.S. depression had spread to all market economies. The crisis would not have had such serious repercussions, if an agreement had been reached during the G-8 summit in Japan.
Yesterday, Medvedev had said at a reception for new ambassadors to Russia, that Russia and the US can maintain a constructive dialogue despite their differences over some international issues: “Despite a number of significant disagreements on certain international issues, we are convinced that we have what it takes to forge a constructive dialogue on a long-term basis,” Medvedev said. He called ties with the US, one of Russia’s foreign policy priorities; Novosti reported.
“The history of Russian-U.S. relations has seen plenty of imbroglios, but invariably common sense and pragmatism have prevailed.” There are good foundations for relations, based on political dialogue, trade and economic relations, and investment activity. “It would be politically short-sighted to fritter away these achievements and get back to the old stereotypes,” he said.
Well, Sara Palin, as Governor of Alaska, that sounds like an invitation to me.
And it doesn’t appear you would be breaking any laws.
What an opportunity to demonstrate diplomacy over confrontation.
What an opportunity to conduct a trip with real positive implications as opposed to the hot air rock concert in Germany.
What an opportunity to plant the seeds for a joint action on the current crises, co-sponsored by Russia, as a member of the Russia-China-India, Eurasian party and the U.S.A. as the representative of the international Dollar system on which the present world system depends.
And my favorite, what an opportunity to expose, in both parties, those that wear Union Jack panties and are the real obstacles to a sane resolution to this problem.
The democratics are getting deperate.They have no plans of their own and Obama is a nut case.They kick-bit-slap- Hillary and now thery want to tape Hillary on the floor.They again are useing Hillary in what she say’s and they taped it so they hope that they can gain the votes.Well hello barky you are a lose! You all can’t even stand up for yourselves you have Hillary fighting for all you democratics in hopes to save your ass.The thing is that’s it’s Barky that we don’t want and Hillary isn’t running as president and Obama is a lost cause and a very big danger to US we heard and swa s Barky as he talked and fliped floped all over the place.You don’t get it to you democratics it won’t work-Hillary is running for president no longer so this had nothing to do with Hillary now.It’s McCain /Palin now we want.Obama is who we will not vote for never!So use all you want democratics we 1/2 so called people as you put us.You think we did not hear you democratics-You think we didn’t hear msnbc-cnn=-abc and Donna Brazile-Howard Dean as all you nasty lying asses out their doing what ever you can to get Hillary out you went as far as cheating-secert meeting-the lies-and the taken and beating your own democrat and her supporters.Well like I said it’s Obama who we don’t want and we will nave fall in line BARKY-DNC as Obama said”I will get Hillary’s supporters” NOPE NOT ME AND NO YOU WILL NOT!
Abd playing on us to say look hear her.Well it’s to late.stop playing on Hillary,We will not fall in line and to come out and say we are not.Well shit you are willing to say here she is but not willing to stop the abuse you dnc mrdia put out on hillary..go suck up to someone els.
McCian/Palin 08
The democratics are getting deperate.They have no plans of their own and Obama is a nut case.They kick-bit-slap- Hillary and now thery want to tape Hillary on the floor.They again are useing Hillary in what she say’s and they taped it so they hope that they can gain the votes.Well hello barky you are a lose! You all can’t even stand up for yourselves you have Hillary fighting for all you democratics in hopes to save your ass.The thing is that’s it’s Barky that we don’t want and Hillary isn’t running as president and Obama is a lost cause and a very big danger to US we heard and swa s Barky as he talked and fliped floped all over the place.You don’t get it to you democratics it won’t work-Hillary is running for president no longer so this had nothing to do with Hillary now.It’s McCain /Palin now we want.Obama is who we will not vote for never!So use all you want democratics we 1/2 so called people as you put us.You think we did not hear you democratics-You think we didn’t hear msnbc-cnn=-abc and Donna Brazile-Howard Dean as all you nasty lying asses out their doing what ever you can to get Hillary out you went as far as cheating-secert meeting-the lies-and the taken and beating your own democrat and her supporters.Well like I said it’s Obama who we don’t want and we will nave fall in line BARKY-DNC as Obama said”I will get Hillary’s supporters” NOPE NOT ME AND NO YOU WILL NOT!
Abd playing on us to say look hear her.Well it’s to late.stop playing on Hillary,We will not fall in line and to come out and say we are not.Well shit you are willing to say here she is but not willing to stop the abuse you dnc mrdia put out on hillary..go suck up to someone else.
McCian/Palin 08
The democratics are getting deperate.They have no plans of their own and Obama is a nut case.They kick-bit-slap- Hillary and now thery want to tape Hillary on the floor.They again are useing Hillary in what she say’s and they taped it so they hope that they can gain the votes.Well hello barky you are a lose! You all can’t even stand up for yourselves you have Hillary fighting for all you democratics in hopes to save your ass.The thing is that’s it’s Barky that we don’t want and Hillary isn’t running as president and Obama is a lost cause and a very big danger to US we heard and swa s Barky as he talked and fliped floped all over the place.You don’t get it to you democratics it won’t work-Hillary is running for president no longer so this had nothing to do with Hillary now.It’s McCain /Palin now we want.Obama is who we will not vote for never!So use all you want democratics we 1/2 so called people as you put us.You think we did not hear you democratics-You think we didn’t hear msnbc-cnn=-abc and Donna Brazile-Howard Dean as all you nasty lying asses out their doing what ever you can to get Hillary out you went as far as cheating-secert meeting-the lies-and the taken and beating your own democrat and her supporters.Well like I said it’s Obama who we don’t want and we will nave fall in line BARKY-DNC as Obama said”I will get Hillary’s supporters” NOPE NOT ME AND NO YOU WILL NOT!
Abd playing on us to say look hear her.Well it’s to late.stop playing on Hillary,We will not fall in line and to come out and say we are not.Well shit you are willing to say here she is but not willing to stop the abuse you dnc media put out on hillary..go suck up to someone else.
McCian/Palin 08
It’s the democrtics who again useing Hillary and tapeing this in hope we will fall in line.Well DNC it’s Barky we don’t want and never did.Hillary is nolonger running.They are really deperate they are hopeing to paly on the minds of people who were going for Hillary.Well we will not fall in line trick-after trick-we see right through you DNC -It’s a shame they DNC-MSNBC-CNN-MSN-ABC AND OBAMA haddid all they could to get Hillary out of the race by the way they treated her.The way they cheated her-all the media bisa on hillary and her supporters.and now they need her to save Barky’s ass!
Leave it to Donna Brazile-Howard Dean-Nancy Peliso to suck up.As Obama said” I will get Hillary’s supporters”even before the race was over the last three primaries.DNC SENT HIM FAST TO A SET UP PARTY TO EXCEPT THE NOMINNENATION.WHEN THE RACE WAS NOT OVER.ALL THE SECENT MEETING IN MAY 31,08 CONVENTIONS BEFORE THE CONVENTIONS.The calling of all delegates before Denver convention to have a roll call in secert not at the denven convention-the chasing down delegates running after them grabing them calling them names when they said no to Obama.The threats thjey made to delegates-the 1/2 votes they called us taken delegates from hillary.The ballot Obama took his name off saying he wasn’t on the ballot but didn’t tell the people”I took my name off” The lies of msnbc-cnn-msn=abc and more.
You think I will ever vote Obama?HELL NO NO EVER!
IT’S OBAMA WE DON’T WANT WE SAW AND HEARD IT ALL DNC AND WE DON’T WANT YOU AS WELL.GET LOST..I WILL NEVER FORGET WHAT YOU NASTY DNC DID NEVER!
McCain/Palin 08
I hope Mrs. Clinton remembers that it was her husband who started this entire debockle! And, for the last 2 years, the Dems had control of the Congress…..so why didn’t they do something!! I’m sick of all of them! They are all Political and are concerned about their own pockets! Sorry, but I’m so fed up maybe I’ll just move to another socialist country! that’s what we’re turning in to. If Obama wins this election, we will have total disaster!
Joanna you are misinformed and have a small slice of the story. The Bill that Big Dawg created was abused. It was a good bill and made a huge difference to cities across Ameerica and blighted communites were revitalized. There wasn’t any fraud going on then beyond the usual.
CAN ANYONE EXPLAIN THIS TO ME? I GO TO A NUMBER OF DIFFERENT BLOG SITES EVERY DAY JUST TO GET A FAIR PICTURE OF WHAT PEOPLE (NOT JUST DEMS OR REPS) ARE SAYING. SEEMS LIKE ITS 8-2 AGAINST OBAMA. SO HOW COULD HE BE LEADING IN ANY POLLS?THE MSM ARE ALSO SAYING MOST OF HILLARYS SUPPORTERS ARE VOTING FOR OBAMA. SORRY BUT NOT ANY HILLARY SUPPORTERS I KNOW.
My heart just breaks watching this. I know the similarity between Senator Clinton and Senator McCain is the experience and the understanding, of addressing the problem on it’s face in detail with solutions; which will never be pretty words, especially when you are speaking of money and finances.
How long before the o plagiarizes it? This solidifies my vote for McCain, each and every time I see Senator Clinton, and what should have been. I am happy to vote, to provide some much needed housecleaning for the democratic party. I have no problem with a McCain/Palin administration in the interim.
I get a lump in my throat thinking about this and reading everyone’s comments. This country is dying for a capable leader.
There she is.
My God, what a loss to our country. I could just cry that this woman will not be the President of our country.
I’m there.
[...] Friday (September 19), NancyA posted a great piece on Sen. Hillary Clinton’s floor speech Thursday that directly addressed our nation’s [...]
[...] see NancyA’s excellent article covering Hillary Clinton’s economic plan, released last Friday, and SusanUnPC’s great piece last night in re Hillary’s [...]
Gee. Wow. I read that speech and sort of woke up to reality again. Wow.
Love you Hill!
Oh bless that woman. We really are hurting without her. She’s so OBVIOUSLY the right president. MIGOD she could save the country.