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Rep. Manzullo to Geithner: Your Plan Is 'Radical'

UPDATED at 1:21 P.M.:

In testimony before the House Financial Services committee that just adjourned, Treasury Secretary Tim Geithner just had to defend his institutional takeover plan against charges of radicalism.

"Do you realize how radical your proposal is?" Rep. Donald Manzullo (R-Ill.) asked.

"It's not radical. . ." Geither began, before Manzullo interrupted him.

"You're talking about seizing private businesses and you don't consider that radical?" Manzullo replied, his voice rising.

Manzullo is trying to get Geithner to give details of the plan -- that's where Geithner got stung before -- but Geithner doesn't have them yet.

If the plan were not radical, Manzullo said to Geithner, "you would have answers to some of my questions, such as, what size business would be subject to this?"

Geithner: Banning 'Naked' Credit Default Swaps Not Necessary

Noon: Geithner said banning so-called naked credit default swaps "isn't necessary and wouldn't help."

A credit default swap is insurance one party sells to another against default on a debt. In a "naked" swap, one party carries no actual risk in the transaction; instead, it's a bet on the transaction's outcome.

Naked swaps have been criticized as being speculative at best and actually creating risk.

Rep. Joe Donnelly (D-Ind.) asked Geithner if he would consider banning the swaps.

"To me, I'm from the Midwest, these just look like simple bets," Donnelly said, which American taxpayers have been forced to pay off.

Geithner allowed that there is strong debate on the issue and that "my own sense is that banning naked credit default swaps isn't necessary and wouldn't help." He said it is "terribly hard" to differentiate between a legitimate hedge and a pure speculative bet.

The House Financial Services committee, where Geithner is testifying, is now in recess so members can vote on legislation.


Geithner: New Regulatory Power Over Financials Should Rest With FDIC

10:54 A.M.: Geithner said the governments sweeping new powers to seize non-bank financial institutions, if passed by Congress, would be based on the FDIC's model.

Asked by Rep. David Scott (D-Ga.) where such sweeping powers would rest, Geithner said "we would rely on the FDIC to run the regime."

Congress appears open to Geithner's plan, if Rep. Paul Kanjorski's (D-Penn.) statement earlier represents the general sentiment of the body: "We need to provide the administration with a bigger hammer."

Geithner: 'New Rules Of the Game' Needed

10:12: A.M.: Geithner is rolling out his proposed sweeping changes to the the regulatory system governing the financial industry, which were first reported here by The Post's Binya Appelbaum and David Cho.

Geither is proposing "new rules of the game."

You can read his entire testimony here.

Geithner said it his intent to lay out the "substance of reform" today but not "the complex and sensitive questions of who should be responsible for what."

This could be troublesome for Wall Street, which freaked out the last time Geithner failed to provide details for a big plan, when he rolled out the "substance" of his toxic asset plan but not its details.

-- Frank Ahrens
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By Frank Ahrens  |  March 26, 2009; 1:21 PM ET
Categories:  The Ticker  | Tags: Tim Geithner, regulation  
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Comments

"Balls"

Congress will grow a pair once their constituents grow them.
Everyone knows Obama is spending trillions of our taxpayer money-draining 100's of billions of dollars out of the private sector-in order to grow bureaucracy and patronage and hold power forever . A trillion here and a trillion there and after a while-you're talking real money. The pork-athon is never ending and WILL DO NOTHING TO STIMULATE OUR ECONOMY. But that's not his goal anyway. His ultimate goal is to stress our free market system until it collapses and from there he plans to usher in the new era of Socialism. After all-as people in his administration are quoted as saying "You can never allow a serious crisis to go to waste".

Socialism-a failed system-where Government controls every aspect of our lives and confiscates Americans' private property through taxation and regulation. This is his goal -this is his plan-whether you want to believe it or not. He is a disciple of the Cloward -Piven strategy-which George Soros and all the other hate America left wing types subscribe to and Obama is at its core. Look it up for yourself-if you don't believe it.
Having said that -what is a trillion dollars? . The following comparisons helped boil it down for me: Let's start with a million dollars------- Why a million? Because I can somewhat comprehend that and it looks something like this. If you took $1,000 dollar bills-if there is such a thing-and stacked them one on top of the other - I am told you would have a stack 4 inches tall. Ok -so far so good. Now here is a trillion dollars-take those same $1,000 dollar bills and stack them one on top of each other-only this time you would need a stack 67.9 miles high. The interest payment alone on this kind of debt-by 2019-will be over 800 billion dollars.

And who do you think is responsible for paying for this 67.9 miles of debt? Your children -that's who. I don't know about you but this makes me sick to my stomach when I think about what it represents. It's more than just some cute analogy-some unbelievable stack of money-this represents our future and the future of generations to come. This represents a future of confiscatory taxation and a reduced standard of living. A future of fewer and fewer jobs and fewer and fewer goods and services. A future of less liberty and less opportunity. Mortgage ; from the Latin"morte" or death .."gage" or grip.We are standing by quietly allowing them a death grip on our childrens throats.
I have never been so afraid for my country and for my children as I am now.

Posted by: rtfanning | March 26, 2009 1:32 PM | Report abuse

OK lets get it straght, Congress did not mind spending trillions of dollars for the war and other no bid contracts!!! Now in order to have regulations to control the system and spend to get us back on track....it is radical!! ha ha Where were all of their ideas BEFORE the bottom fell out???? I did not hear their ideas in the last year before Pres. Obama took office.!

Posted by: mscarfabyahoocom | March 26, 2009 3:25 PM | Report abuse

Having Tax Cheat Timmy over-seeing Wall Street;

is like putting Michael Jackson in charge of a Day Care!

Geithner is not a Solution to the Problems;

he IS the problem!

Posted by: SAINT---The | March 26, 2009 3:34 PM | Report abuse

ALL AMERICANS, WAKE UP AND STAND AGAINST AN IRRESPONSIBLE GOVERNMENT. DON'T SACRIFICE YOUR FREEDOMS.

Nobama continues to prove himself incompetent and untrustworthy in many ways and is bankrupting our country.
First, he decries McCain in the election for saying the economy was on sound footing then recently he says that indeed the economy is on sound footing.
Second, he says that he does not pay any attention to the markets even though millions upon millions are losing their life savings, now he ties his administration's economic success to the success of the market.
Third, his administration rushes his "porkulus" bill through Congress saying immediate passage is urgent then waits five days before signing.
Fourth, he states he is "shocked" by the AIG bonuses then it turns out that it is his administration that had the provision included to allow the bonuses into the "porkulus" bill.
Fifth, he says he is the president to all the people and will be a bipartisan president hen he has Reid and Pelosi exclude the minority party from government participation.
Sixth, he says he will put all bills online for public viewing for five days before signing them then he never puts any of them out for the "smell" test.
Seventh, in October 2008, during the election he states because of the downward spiraling economy he will have to put off his campaign proposals to change the nation in order to concentrate on the economy, then after being elected states he will pass all of his social engineering agenda at once even if he becomes a one term president.
Eighth, Nobama says no lobbying influence in his administration and even writes an ethic resolution saying the same, then repeatedly has waiver after waiver allowing lobbyist into the candy store.
Ninth, plays the part of the common middle class throughout the election process then once elected president ,has Stevie Wonder over to entertain and throws weekly parties featuring $100 Kobe steaks for all his guests while over 11 million Americans are unemployed.
Tenth, as Nobama’s first act in office says he is going to close Gitmo with no backup plan for war prisoners and recently his Attorney General states some of the detainees may be released into the U.S. population.
Eleventh, tells the families of the 9/11 attack victims he is dropping charges against terrorists who have already admitted quilt.
Twelfth, and worst of all, Nobama Administration proposes to have wounded war vets uses their own civilian medical insurance to pay for war wounds and finally relents after public outrage.

Posted by: 2tired | March 26, 2009 3:37 PM | Report abuse

The Pubs all, all should be stating without shame that this Administration is the most radically socialist pacifist in our history. When Bachmann has to offer a House resolution to stop all ideas of using foreign currency in place of our dollar and this other rep. from Ill. needs to remind Timmy the Tax Cheat that his ideas are just socialist tripe, then you know something horrid has changed in our Congress and in the WH. Though the Pubs will not have any chance to stop this naif in the WH until they regain seats in the House,they must speak up and allow voters to see that people in the USA are just not being led to this Leftist slaughter of our capitalistic democratic system.

Posted by: phillyfanatic | March 26, 2009 4:37 PM | Report abuse

rtfanning:

1. That's a very tired predictible, and played out argument. Last I checked Obama is president and the war is still going on.

2. The War in Iraq has cost less than a trillion dollars and those dollars include military salaries which trickle-down effect through our economy.

3. We are not "spending to get back on track". Newsflash, ITS NOT OUR MONEY. What we are doing is "borrowing to get out of debt". When you call it what it really is, it sounds pretty stupid doesn't it?

How did you get here anyway? The WaPo is for intellectuals. Is MoveOn.org having technical issues?

Posted by: shesgruesome | March 26, 2009 4:43 PM | Report abuse

Obama could care LESS how big the deficit is. It's like Mark Steyn said-

"If you own even modest assets (a small house, a savings account) and you think that in a battle between the political class and the business class it’s in your interest for the latter to lose, you’re a fool who entirely deserves the vaporization of his wealth on which Barney Frank & Co have embarked.

We have a president who shows no instinct for economic issues; a Treasury Department that, in a supposed crisis, is just one designated fall guy rattling around an all but empty building for whose senior positions no one has even been nominated; and thug legislators-for-life who bear far more direct responsibility for this mess... posing as champions of da liddle guy in order to extend their already disastrous “oversight” ever deeper into the private sector.

Things are going to get a lot worse."
___________________________________________

Someone needs to tell Barack that he can’t put his class enemies on the rack and wring all their money out of them- regardless of what his Marxist professors told him.

The executives he targets know how the world works, unlike Barack as he employs his long ago disproven zero-sum class warfare strategies to an economy who’s only real advantage in the world has been freedom and low taxes. Without a healthy, free market… America is doomed.

All he is doing is scaring away talent with repressive measures that will not work. The only loser here will be the compainies, and of course the USA- Obama can’t control these people in defiance of market forces… they’ll just do something else.

http://reaganiterepublicanresistance.blogspot.com/

Posted by: ReaganiteRepublican | March 26, 2009 4:47 PM | Report abuse

mscarf.... comparing no bid contracts to marxism is a bit far fetched. No bid contracts were companies hired to do a job only they could do, in a hurry. During war there was no time for the beaurocracy to block supplies and services to the troops.
So, when you say they were wrong, but borrowing my kids money before he's born is all right, you leave me scratching my head.

I am so glad for Bachman and Manzulo. Seizing any privately held assets for any reason other than defense or criminal penalties is totally against every concept in our countries founding. If he doesn't realize that, he needs to learn it.

Posted by: rogerrussell1 | March 26, 2009 4:48 PM | Report abuse

Hey mscarfabyahoocom, you really should get your facts straight before you open your pie hole. That way you won't sound as ignorant as you are.

To this point the Iraq War has cost a little over 608 billion dollars. In other words, the worthless stimulus package that was passed cost more than the Iraq War has up to this point!

The crap that these people are pulling in Washington won't work. Go ahead and try to prove me wrong, because you can't. Everywhere you look in history Socialism has FAILED. Sure it work in the USSR for about 70 years, but we all know how that ended up.

Spare me your pretty argument that this is Bush's fault. It is everyone who has EVER been a member of congress. It has been just about EVERY President we have ever had. They no longer work for us; they work to get votes.

So please don't bring your weak play out here. Unless of course you want us all to think you are an ignoranus.

Posted by: gosonicsgo | March 26, 2009 4:50 PM | Report abuse

I agree w/rtfanning. What I see is an economic disaster caused by uncontrolled USA spending/debt and greed being continued by the current administration times 10. I don't think we have any leadership anywhere nor have had since I can't remember when. Congress is along for the ride and their own profit. I predict that in the next few years we will see our children and any adult who has worked hard to achieve drop out. It will make the 60's look good. There is no incentive to achieve or play by moral rules in this country anymore. As the USA goes - so goes the world. There is no history to tell us how to survive or function in this current atmosphere. We are in uncharted territory with leaders who haven't a clue. We have become Rome.

Posted by: primosweeper | March 26, 2009 4:51 PM | Report abuse

PAY ATTENTION AMERICA the businesses that have failed so far have more government regulations than those that are doing ok. GEITHNER and OBAMA are making things WORSE not BETTER.

Posted by: wapoisajoke | March 26, 2009 4:53 PM | Report abuse

Remember Long Term Capital that was One hedge fund using 100 to 1 leverage , 10 years ago it nearly vaporized the system, fast forward to today the top 25 financial firms using 40 to 1 leverage comes close to 1000 to 1 leverage yet how little discussion on the subject of restraining leverage.Geithner proposes more leverage for us all. What does he think Options, Futures, Derivatives CDS's CMO's are?

Posted by: hiwcm | March 26, 2009 4:55 PM | Report abuse

To all those looking to be protected and saved by actions like this........please remember a quote from a notable American, "The nine most terrifying words in the English language are: I'm from the government and I'm here to help."

I hope more people educate themselves on the founding of this country, the constitution which is a CONTRACT for the limits of government and the guarantees of FREEDOM of the people, and yes that means the freedom to succeed OR fail - in your private affairs and or in your business. Freedom of the markets and business go hand in hand with individual freedoms.

Posted by: mikejincf | March 26, 2009 5:03 PM | Report abuse

This is how the Obama Marxist/Socialist regime is trying to usurp constitutional powers. "I forgot my taxes" Timmy Geithner is just following what his boss wants to be done. We must do all we can to stop this from happening. I hope those "Know Nothing Democrats will wake up and see that they are not smelling Roses but *hit.

Posted by: ram2h2o | March 26, 2009 5:04 PM | Report abuse

"OK lets get it straght, Congress did not mind spending trillions of dollars for the war and other no bid contracts!!! Now in order to have regulations to control the system and spend to get us back on track....it is radical!! ha ha Where were all of their ideas BEFORE the bottom fell out???? I did not hear their ideas in the last year before Pres. Obama took office.!"

Let's really get something straight. Bush acted under the advisement of two Democrats, Bernake & Paulson last year in the bailouts. Bad idea! That was a mistake, but Obama was all for it too and voted for it! Paulson spent about 350 billion of last years bailout and Obama is spending the rest of that bailout! Now Obama's so called spending bill and his budget, according to the congressional budget office will increase our debt with interest paid by 9 trillion! Obama will have spent more than all the other President's combined including Bush. It's unsustainable and a disaster will occur. It's what they want because these people are Communists and they'll attempt to seize permanent power during this strife. Mark my words!

CrusaderPatriot dot com

Posted by: CrusaderPatriot | March 26, 2009 5:05 PM | Report abuse

phillyfan,

I agree with you, but call a spade a spade. This administration doesn't want Socialism. Controlling the means of production is too much work when there are Leno appearances to be made.

What they want is Communism. That way everyone does everything on their own dime but they have dictatorial power to direct it as they see fit.

GM can make cars but they must be hybrids. AEP can generate power but it must be from windmills. You can be a businessman, but they'll decide how much you can make. This is the power they seek. They don't even have the capability or willpower to take Socialist control of everything. All they really need to control is YOU, then you'll do the rest. That is Communism, and that is their mission.

Posted by: shesgruesome | March 26, 2009 5:08 PM | Report abuse

If you really want to change the country, start by becoming a Republican Party Precinct Committeeman! The most powerful office in the world because Precinct Committeemen determine who gets the chance to be elected to office at every level of government.

1. To change things, we must change the laws.

2. To change the laws, we must change the people who make them.

3. To get elected, your candidate must be on the ballot.

4. To get on the November ballot you must win the Primary.

5. To win the Primary, you must get the support of people who make endorsements in the Primary, who reliably vote in the Primary, and who get out the vote of others in the Primary. Those people are the Precinct Committeemen.

Most importantly, Precinct Committeemen get to vote in the Party elections that determine the leadership of the Party. The more conservatives who become Precinct Committeemen, the more conservative the Party, and its candidates, will become. The Party again might appear to the voters to offer a clear choice from the Democrat Party, rather than an echo of it.

Go here to learn more:

The Most Powerful Office in the World is NOT the President of the United States. ( http://www.eagleforum.org/misc/brochures/precinct-committman.shtml )

By becoming a Precinct Committeeman, you get to ACTUALLY VOTE for the Party leadership. YOU GET TO CAST A VOTE FOR YOUR LOCAL REPUBLICAN LEADERS UP TO THE COUNTY LEVEL, AND THEN GET TO ELECT ELECTORS WHO ELECT THE STATE AND NATIONAL PARTY LEADERS. If those who accept, understand and advocate conservative principles become a majority IN THE PARTY RANKS, guess what? The Party leadership voted in will be those who accept, understand and advocate conservative principles. This just happened here in Arizona.

Posted by: hillarybad1 | March 26, 2009 5:16 PM | Report abuse

Radical? How about criminal?

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=92810

"I have been blessed to represent this nation we love. And I will always be honored to carry a title that means more to me than any other: citizen of the United States of America" George W Bush Farewell Speech

Posted by: pauldia | March 26, 2009 5:16 PM | Report abuse

Well, with the government having the power to take over a company anytime, I say get all of the board of directors resign from their companies now and see how good the government does with that situtation.

The man is stupid.

Posted by: bfrazer1 | March 26, 2009 5:41 PM | Report abuse

It's so encouraging to read the comments so far. Could it be that we are seeing our nation waking up from its election '08 stupor? If so, the trend is already picking up steam, and 2010 promises to be a game-changer. Yes!!!

Posted by: NDSue | March 26, 2009 5:49 PM | Report abuse

Geithners Gotta Go!! And take Obama with him!

Posted by: tmhmt | March 26, 2009 6:12 PM | Report abuse

Too many of these comments reflect the "feelings" of the poster and completely bypass the brain. Until adult Americans start thinking and then speaking, instead of first feeling, and then speaking to justify their preconceived emotional positions, there will never be communication and problem solving in this country. Too much of the commentary is simply third grade level expressions of "this is how I feel", instead of this is what I think and how I came to this conclusion. The self gratifying stroking of individual emotionally centered egos makes up the bulk of dialog in America today. Wake up. Grow up. I'm talking to you moral relativist, Politically Correct apologists for the left-wing, self esteem lobby.

Posted by: NCMike | March 26, 2009 6:12 PM | Report abuse

mscarfabyahoocom,

Sorry.Just so you will know, useful idiots will be disposed of in a not-too-kindly method when the socialist "rapture" takes place. Useful idiots may revolt against the new world order when they realize they have been duped.

Sorry.

Posted by: RightStuff | March 26, 2009 6:19 PM | Report abuse

Mr. Obama promised "change we can believe in" but never articulated the "change" during the campaign. The closest was with Joe the Plumber, and they TRASHED him for asking that question.

Mr. Obama has told one lie after another since assuming office.... Iraq, 16 months... transparency (5 days for public to review policy)... NO lobbist in his cabinet... EVEN the liberal blogs are attacking his lies!

Mr. Emmanuel stated that they can't let a good crisis go to waste... THEY haven't!

Mr. Obama modeled his career after Alinski... "Alinsky was a critic of mainstream liberalism, which he considered passive and ineffective. In Rules for Radicals, he argued that the most effective means are whatever will achieve the desired ends, and that an intermediate end for radicals should be democracy because of its relative ease to work within to achieve other ends of social justice."

Folks... there IS a pattern!

Posted by: im14fun | March 26, 2009 6:21 PM | Report abuse

mscarfabyahoocom = another blithering liberal baffoon from yahoo. The first "no bid" middle east contract was awarded by Slick Willey. And if you are referring to the 'the other' no bid contract, it was awarded to Halliburton because they are the only company in the whole frickin world that was qualified to fight & extinguish oil well fires. Get your facts straight before you post.

Posted by: MontanaJoe1 | March 26, 2009 6:37 PM | Report abuse

Republicans had better start standing up and resisting these radical power grabs by this Marxist administration before it's too late. We The People are starting to group together to STOP the madness in DC! Join the Tax Day Tea Parties in your area on April 15th and make your voices heard, loud and clear! Use your VOTE in 2010 and 2012 to get rid of these subversive maniacs, no matter which side of the aisle they slither to.

Posted by: priley8104 | March 26, 2009 6:46 PM | Report abuse

Hey right wingers...I hope Obama taxes you up to the eyeballs. I want your money!! My man Obama is going to TAKE your money and give it to millions of people like me. I'm just waiting for my check. I love it...squeal...squeal for me!!I hope he tax tax taxes you until you're broke. Your time is over. Viva Socialism!!

Posted by: shadowduskeve | March 26, 2009 6:52 PM | Report abuse

We need sit-ins and demonstrations against President Odolt and the loony congressfolks that support this idiotcy.

Posted by: WilliamGoat | March 26, 2009 6:53 PM | Report abuse

What I saw as the most frightening part of the Congressional exchange with Geithner - was his parroting what we heard about the Stimulus Plan-
He wants it RIGHT WAY - not tomorrow - not after anyone has had a chance to look at all the ramifications - but RIGHT NOW.
We have already seen where that "quick response" got us on AIG and given that Geithner isn't capable of working Turbo Tax, I have no faith in anything he demands.
You absolutely MUST write your Congressmen and Senators and let them know how you feel and will be voting in the future. To do otherwise is to allow this Evil to triumph over good men.

Posted by: TexGal | March 26, 2009 6:54 PM | Report abuse

This is going to be a tough four years, but after that it would seem clear the socialist Democrats are done.

Now if we could just get the Republicans to adhere to a conservative agenda perhaps the republic can be saved.

Posted by: dmarshall1 | March 26, 2009 6:56 PM | Report abuse

Rep. Paul Kanjorski's (D-Penn.) statement earlier represents the general sentiment of the body: "We need to provide the administration with a bigger hammer."
_________________
Hey while we are at it, why dont we go ahead and give the administration a sicle to go with that hammer?

Posted by: brenda5 | March 26, 2009 7:01 PM | Report abuse

great post rtfanning, couldn't have said it better myself!! unfortunately the person under you doesn't get it. they ask, where were they a couple of years ago when this was going down? ask the dems, they have been in charge for over 2 years practically making bush a lame duck. more? go look at barney franks comments in 2003 regarding the oversight of fannie and freddie who were cooking the books and providing huge bonuses for the democratically appointed (clinton) democrats with fines being levied and jobs being lost, but oh yes, they took their bonuses!!! and barney said, no further oversight was needed, foxes in the chicken coup were fine with him!!! course you know his boyfriend (not one of his paiges) works for fannie mae!!! and how did you like the 300+K that rham emanuel got by shorting fannie or freddie stock!! what a bunch of characters!! if they weren;'t so pathetic and the situation so serious, i'de be laughing my a_ _ off!!!try this at home folks and see how you come out. go get a home eguity loan to buy stuff, run up your credit cards, buy a couple of new cars, now go back to your bank and ask for more money!! what, no colatteral? can't you just give me more and i'll pay it off sometime in the future? what are they going to say (after they start laughing at you) fix your bottom line then we'll talk!! just where is the fix to the bottom line in obama's budgets (read, spending bills, there's no real budgeting here)!! its never ending and like my fellow opiniator above says, its not his plan anyway. SOCIALISM!!! thats the ticket!!! he's a closet communist!! by the way, does anyone else think that commieobami and family do not need a dog when they have chis mathews humping on obami's leg? just a thought. and did you see the british parliment guy go on a rant against the PM, it was the best!!! talk about dejue (sp?) vue all over again!!! wouldn't it be great if that guy could come over here before a joint session of morons and tell them like it is!!! i'de pay money for that, if i have any left!!

Posted by: B737jetsarecool | March 26, 2009 7:13 PM | Report abuse

Will somebody please recount the votes casted on 4 November 2008. We need change now!

Posted by: markburns1 | March 26, 2009 7:27 PM | Report abuse

Geithner is a Federal Reserve stooge. Just as Bernie Bernacke is hand-picked by the banking elite, Geithner come fully-vetted and Fed-approved GRADE A "He'll do whatever it takes to seize more control/assets/money from the US taxpayer and transfer it to the Fed."

Posted by: schratboy | March 26, 2009 7:29 PM | Report abuse

"Now if we could just get the Republicans to adhere to a conservative agenda perhaps the republic can be saved."

And therein lies the problem...

Democrats do not try to fool anyone about favoring larger government, and larger government influence over the private sector. It's hard to argue that might not be a good idea when just recently the private sector, despite what "incentives" they had to do so under the law, massacred the economy with pure dice rolling in the financial sector. We had an election where Obama's position on this was clear, and the people agreed this was the best course of action.

On the other hand, Republicans say they favor smaller government but it's pure political rhetoric. They only differ from the Democrats on which parts of government should be increased, which has historically been a gigantic military unnecessary to defend us against loosely organized extremist groups which is the only true threat we've faced in decades, and "lower" taxes targeted nearly unilaterally at the ultra-wealthy that are simply financed by a larger deficit because they are never coupled with actual spending reduction.

All this "socialist" and "communist" fear mongering is nothing more the Republican party's new boogey-man to scare up votes which replaces the "terrorist" boogey-man they used to enact their policy under Bush. For 8 years the Republican party's pitch has been "vote for us that guy is will cause [some disaster]" while providing no actual solutions to same problems other than that they are not "that guy."

NOT being a democrat does not a Conservative make, and a Conservative is just as rare a bird in the Republican tree as it is in the Democratic one. All the whining coming from the far-right only drives this point home. How you guys managed to construct the fantasy that Obama is solely to blame for the situation we're in and that the 8 and 6 respective years of Republican control of government who were the previous deficit growth record holders who were handed not a once-in-a-generation economic crisis but a big fat surplus which they wasted on tax cuts that did not grow the economy and a war created on incorrect intelligence in his 3 months in office is beyond me but if there's two things Republicans do deliver it's scapegoats and boogeymen.

You'd better hope that we're still in bad shape in 4 years, because if Obama even gets us back to where we were in 2000, he'll have succeeded in the eyes of enough voters to win again, and the wolf-criers ranting about "communist takeovers" and the "fall of America" when every country in the world is in just as bad a shape and came to the same conclusions as to how to get out of it will have nothing to offer except hollow words, like usual.

Posted by: Overdenkotten | March 26, 2009 7:34 PM | Report abuse

Thank you for standing up for liberty

Posted by: lgharris1 | March 26, 2009 7:37 PM | Report abuse

My comment is not against Obama, Bush, or the Congress. I am simply one american that is wondering why we are bailing out companies. Just who are these people who are holding the toxic assets. I feel I am being led to believe that if we did not bailout these companies all ordinary americans will lose their jobs, pension plans, 401ks or whatever.

I feel there is more to the story. The stock market is down so I have already lost a great deal of my savings. Once again who is holding the toxic assets. If we do not bailout AIG, CITI will I be worse off. Would not other companies that were better run pick up the slack and hire many of the people that have lost their jobs.

Once again, I ask who is holding these toxic assets. Is it foreign countries, the wealthy, institutions and others who are all big with the campaign contribution.

If these companies were simply allowed to fail would it affect me. Would the market go to zero?

When someone runs a company into the ground and the people we elected to take of our country not only rescue these companies but keep all of the senior managment and no one is fired I feel there is more to the story.

Paul Harvey is gone. Someone please tell me the rest of the story.

Posted by: 1bighat | March 26, 2009 7:43 PM | Report abuse

I will resound the many statements made thus far on this comments board. I will also leave you all with a last word for the punk in the white house to consider and hopefully understand: REVOLT!
The time is ripe my fellow Patriotic Americans and lovers of Liberty. Our Freedom is threatened as it has been by no other group of scoundrels. We the PEOPLE must now participate together in what must become the loudest voice of all.

The Liberal masses have demonstrated, conspired, violently protested in the past and now we must answer their shots with one large and loud concussive demonstration of unity against this tyrannical machine which threatens us. We should not be fearful of what their response should be, we are many. They may be able to stifle a few of us, but they can not silence us all. We need to gather, be vocal, be confident and unbending in our resolve.

We are the Patriots of today, we shall defeat them if we are together.
Throw political correctness aside, it's time to irritate, and inflame them to confrontation. When that happens they will retreat as pacifists do. Once down we must hold them there and rub their noses in it as we do a dog that has peed the carpet.

The time is now for REVOLT!

Posted by: Gorio1 | March 26, 2009 7:49 PM | Report abuse

WAKE UP AMERICA... OBAMA IS A SOCIALIST...THEY WANT TO TAKE OVER EVERYTHING... AND SOCIALIZED MEDICINE IS WRONG ALSO.. IT'S ONLY FREE UNTIL YOU FIND OUT HOW MUCH IT COSTS YOU...THIS IS A VERY DANGEROUS ROAD ...THE DEMOCRATS ARE GOING DOWN.....

Posted by: bowfinbuddyyahoocom | March 26, 2009 7:51 PM | Report abuse

Overdenkotten:

Obviously you do not fathom the fact that it is the Congress that holds the votes to pass laws. President can only veto 3 times. It wasn't until 2007 that the economy totally began to unfold, and the Democrats were in charge since 2006. It was the housing bubble that burst and Bush had no hand in that, for that you can blame BarneymouthfullofcockandballsFrank and the biyatch Piglosi and Harry dipsh*t Ried.
The problem is too many politicians dempcrats and rino republicans are drunk with power that is the crux of the problem.
Chihuahua Ears has a majority in both houses and has no other body of government to oppose, therefore the checks and balances have disappeared. But, recently the tide is turning and there are democrats who are crossing the line and this will of course increase as the constituents of the others, aka "WE THE PEOPLE" continue to "whine" as you so comment. We the People are now the 4th body of the politic, we are the true holders of the Constitution and, Declaration of Independence. Perhaps your Teutonic nickname prevents you from seeing these things?

Posted by: Gorio1 | March 26, 2009 8:23 PM | Report abuse

Time Magazine reported, earlier this year, that most people that worked with Geithner did not think he was the brightest bulb in the Federal Reserve Bank chandelier. This man is a shallow, phony, underqualified fiinancial manager, and he is leading a shallow, phony, underqualified President. In just three months the markets, and the world have resoundiingly rejected their philosophy and policies....it is only the slight rebound in the housing market and durable goods that have energized the markets. God knows the "stimulus bill" is a yawing black hole of negative spending that will not even hit for a year. Where is the common sense, and where are the leaders when we need them to repudiate this reprehensible, irresponsible behavior. apparently the only single sane voice is Senator Gregg...and the guy from Great Britain. STOP SPENDING NOW. STOP GOVERNMENT TAKEOVER OF OUR FINANCIAL AND BUSINESS SYSTEMS....

Posted by: Yeeeech | March 26, 2009 8:28 PM | Report abuse

This has gone way beyond party lines! This is no longer funny!
We are getting into dangerous times and People need to wake up and stop defending the power grab thats going on.
THE AMERICAN PEOPLE ARE NOT GOING TO STAND FOR IT!

Posted by: HollyINTN | March 26, 2009 8:59 PM | Report abuse

Gorio:

"The President can only veto 3 times."

I was not aware of that. Please give me more information. I was under the impression he could veto as much as he pleased.

I'm not sure I want to consider your argument when you make things up like this.

Posted by: Overdenkotten | March 26, 2009 9:01 PM | Report abuse

This nut job couldn't pay his own taxes, and other then spending trillions of taxpayers monies, hasn't fixed diddle squat yet. Now he proposes himself to be Wall Street dictator takeover-in-chief. Not only is he ridiculous, but is unconscionable. Please someone, ANYONE, show this clown the door.


Posted by: JacksonPearson | March 26, 2009 9:02 PM | Report abuse

Upon further review: here are the total vetos made by the President since 2006 when the Democrats "took over."

2006: Stem Cell Bill, 2007: Various Entitlements (veteran's, Iraq, Katrina: a different version was passed), 2007: Stem Cell Bill, 2007: CHIP Program, 2007: Water Resources Act (overrode), 2007: Health and Education Bill, 2007: Defense Spending Bill (different version signed), 2007: Intelligence Act, 2007: Farm Bill I and II (both overrode), 2007: Medicare Improvements.

So, the President can only veto health care, stem cell bills, farm bills, and anti-torture bills but he can't veto any financial bills of any kind because he's only allowed 3 vetoes which he didn't even use one of but somehow his 11 vetoes counted against the 3 he's allowed.

Ah, I see now how he was completely powerless. Must be nice living in Never-never land how's the weather down there?

Posted by: Overdenkotten | March 26, 2009 9:11 PM | Report abuse

Shadowduskeve: Go get a ciggy,joint,dope or drink, whatever you lazy a--es do with your time instead of working for your own money!
Not all ring-wingers, as you call them, are rich; not all rich people are right-wingers, stupid. If you think the Big O is working to get YOU the money, you are really naive too. Keep waiting for that check!

Posted by: sandyinohio | March 26, 2009 9:36 PM | Report abuse

Here we go.....republicans who did absolutely nothing to help this country for eight long and horrendous years but drive it into the ground NOW HAVE PLANS all over the place and are denying and obstructing everything obama's administration is doing to try to bring us back from where they took us. Well they country knows they know good and well whose put us into the mess we are in and in 2010 they will sweep every single one of the republicans into obscurity.

Posted by: msealock | March 26, 2009 9:53 PM | Report abuse

Michelle mybell Obama said for the first time in her life she was proud of her country...for the first time in my life I am truly frightened for my country. When the producers and taxpayers in this country get fed up with this socialist crap there will be no more $$ for Nobama to spend. The military will not back this fraud. I hope I live to see it!!

Posted by: kmaddox | March 26, 2009 10:03 PM | Report abuse

mssealock -there is actually the possibility of this idiot making things worse for generations to come. Spending like a drunk sailor will do nothing but bankupt us and cause inflation to spiral. Stop being so infatuated with this guy and stop and think about the future.

Posted by: kmaddox | March 26, 2009 10:06 PM | Report abuse

All this talk of "Revolution" makes me laugh and laugh hard. I hope (for your sakes) you wingnuts are better at winning a revolution than you are at winning elections. What are you nuts going to do ?? I'll tell you what your gonna do-Nothing! You chickenhawks talk revolution from your recliners after watching football and drinking your beer-just running your mouth and you all sound absolutely INSANE. Do it- Revolt NOW you chickenhawks...Go!

Posted by: shadowduskeve | March 26, 2009 10:13 PM | Report abuse

CHicago Style polotics Nationalized

When are we going to wake up and realize they have nationalized Chicago Politics to the National level. Just look what Emmanuel is doing, they backed off on taking over the census, but they made sure Acorn is going to be involved.We know what happens then. We better be prepared for alot of corruption on our way to a socialized society. We are all to blame if we let it happen.

John

Posted by: hakalaboy | March 26, 2009 10:28 PM | Report abuse

Alarming is not the word. Pick your topic -- socialized health care, climate change ecobabble, China's proposed/Geithner endorsed "new" world currency, open ballots for unions, FrankenDodd financial lunacy, no more "war on terror", USA is the reason for Mexico's violence, UBS fraud for avoiding income taxes, PelosiMotors - the new car company, and transparency. Oh wait, Gitmo prisoners released into the US, and eligible for welfare.

We are circling the drain, sportsfans. Buckle up, it's gonna be a rough ride.

Posted by: billdulac | March 26, 2009 10:47 PM | Report abuse

Some claim Obama is a socialist but I think the most of the elected reps are also. How could such trash payouts happen?

Posted by: havoc1 | March 26, 2009 11:01 PM | Report abuse

Is Treasury Secretary Tim Geithner:

A) Profoundly ignorant on matters germane to his chosen profession,
B) A liar of noteable proficiency, or
C) Doing the best he can after a liquid breakfast and hitting the bong on his way to work?

The Australian PM Keating nailed Geithner's performance when Tim wrote the IMF program for Indonesia in 1997-98: Tim failed at perceiving the material facts, and yet he excelled at making a bad situation much worse.

Would someone PLEASE slip Tim the next winning Powerball ticket so he'll retire SOON and leave his work to competent people.

Posted by: AndyinPhoenix | March 26, 2009 11:58 PM | Report abuse

The thing that gets me is the way Republicans ACTUALLY GIVE CREDENCE to harebrained Liberal schemes by their mild and polite language in the face of the Liberal EVIL. For example, Rep Manzullo should have said something like, "Listen, Tim, this sick totalitarian crap you're spewing will pass over my cold dead political body. I will fight every bit of it with every fiber of my being."

Posted by: wbeattymd | March 27, 2009 12:16 AM | Report abuse

I hope you lamebrains that voted this radical, socialist/marxist, empty suit into office don't have grandkids. If you do, you can see it now. In a few years, they will be saying to their parents, "I wish gramma & grandpa were still alive so I could kick them in the rearend for putting us in this mess."
Democrats are not smart people.

Posted by: poysunivy | March 27, 2009 12:50 AM | Report abuse

I'm sorry, but this looks like Marxist paint by the numbers set being done sort of slowly. I'm not afraid of Obama being a Marxist. He's one. I'm more afraid wht ha's doing to the integrety of the nation each and every hour he continues in the position of President.

Posted by: jackolantyrn356 | March 27, 2009 1:13 AM | Report abuse

Obama is a socialist and his leaders in the Congress are as well. This government takeover was well planned. The run on our banks on September 17 was no accident and the only man who could of done this did. Soros did the same in England and Hungary. He is the socialist who is behind the downfall of our economy. He, with the Dems (Shumer) began the run on our banks beginning with Indy Mac. Soros ended up with Indy Mac thanks to Shumer. Reid started the Insurance run by yelling fire. Where are the investigations? They'll not be forth coming from the likes of the race baiting, pardon selling, Attorney General Eric Holder
Soros funds Move On and ACORN. This socialist demon is behind Obama. Obama has no record to recommend him for the high office he holds. Those dollar donations that came in over the internet were non-existent. No doubt Soros and others scamming our political system. Obama's support did not and does not exist as sold to the American people. His rally's would not have needed free beer and bands to entice and seduce the youth vote.
People need to get local and watch the polls. Every voting both. Stand up to the fraud seeking ACORN who have now been Federally funded with 3 Billion tax payers dollars to steal the next election.
Fight the fraud, enlighten the ignorant as to the loss of their freedoms. Let Americans know who is ruining their country. Start releasing the lists of the traitors Pelosi, Reid, Shumer, Dodd. March in front of their homes. Signs to intimidate just as they did to AIG families. Stand up and Fight. Fight back. Stand for your country. We need to stop these treasonous fools.

We will not get a second chance.

Posted by: Meme27 | March 27, 2009 1:29 AM | Report abuse

Is B.O. the anti-Christ, a wannabe, a fool? Or does B.O. just STINK ?

Posted by: achormikeb3632 | March 27, 2009 6:42 AM | Report abuse

This Obama administration is REALLY scary. I dont care if you are a Republican, a Democrat or a Libertarian....having an inexperienced President administration consume this much power, spend this much money, and confiscate this much capital and private business....it should be VERY alarming. This is not normal. Bill Clinton wasn't this radical, Bush wasn't this radical...not even Jimmy Carter was this radical. What is going on here???

Posted by: richarcm13 | March 27, 2009 6:52 AM | Report abuse

Geithner and his fellow travelers must be students of Marx and/or Hitler. These men and their views and approaches on Governmental issues relating to our economy are the type that dictators and rogues have used in past history! They don't work and they remove freedom from the individual in a very big manner and way! What we have fought for and lived for as a nation for over 200 years is being placed in high danger by Obama, Geithner and his kind at this moment. They must have been schooled in Moscow or somewhere else, certainly not in a free entprise capitalistic society or school. If they could read their projects would be tossed out the door with quick action knowning they are not a part of our system and certainly not a part of anything that would work for the good of business and the individual! Is this really what you folks want as a nation, a nation built upon dictators like that? Will you enjoy leaving your freedoms and living under the black boot of a Nazi posture of Government? Better start working overtime to defeat these goons in Washington, D.C. right now or else you will be in a bread line serving your masters in D.C. soon! Help impeacement this administration and political party members as a whole. they represent anti-Americanism and have no answers but dictatorship! Down with this evil! Up with freedom and hope!!

Posted by: Lcarnes1 | March 27, 2009 7:42 AM | Report abuse

I tend to agree with the market-based criticisms of Geithner's approach, but it seems painfully obvious to me that Republicans are ludicrously hypocritical whenever any talk of spending comes up.

Having said that, someone's hypocrisy doesn't destroy the validity or soundness of their argument. If Hitler were to construct a sound argument against the Holocaust, he would be as right as Elie Wiesel would be.

Posted by: fabio9000d | March 27, 2009 8:45 AM | Report abuse

Other things said at the hearing:
Spencer Bachus asks why US banks are being asked to take a 70% haircut when foreign counterparties get back dollar for dollar. He also questioned why Geitner's plan will authorize the FDIC to spend an unlimited amount since we are in effect already doing that.

David Scott states that AIG's problem was with AIGFP, not AIG, so why is there a push to federally regulate insurance companies, when insurance companies did not cause any of these problems? Scott also questions Geitner as to why hedge funds should be regulated. Geitner responds that they shouldn't be regulated like banks.

John Campbell questions Geitner about financing private firms that buy toxic assets at a 6 to 1 ratio. Campbell thinks that's a pretty big benefit. Geitner's response is that a 6:1 ratio is less than a bank leverage ratio, so everything's ok.

Al Green lays down.

Ron Klein says the notion of too big to fail is in conflict with anti-trust concepts. Geitner responds with an admission that 8-9 thousand banks were not part of the problem, this is why large institutions need tougher restrictions.

Missed Ron Paul's questioning. Probably good.

Posted by: publius47 | March 27, 2009 9:20 AM | Report abuse

Here is the bottom line. Americans simply don't care about what is going on with their country. Even in the case where you think they do, they really don't. The current generation has no idea what America (use to) means to the stability of the world. All the things we take for granted, including simple freedoms are easily cast aside by this generation as meaningless and unnecessary today. Most disturbing is the fact that the people, which this country was found for and by, are not interested in rising up and standing up for what is rightfully theirs. Its amazing, and frustrating, to me to watch the last great hope for the world (America) fall victim to the same tyranny and dictatorships we spent our entire existence standing against. Well, I guess my father was right in his wisdom about how you beat such a massive super power like the US… “with thunderous applause.”

What does America stand for today? Nothing, we fall for everything.

Posted by: vman187 | March 27, 2009 9:23 AM | Report abuse

Just this week IBM announced it was letting around 9000 people go, and is moving most of it's operations overseas. OK people, here's the deal. When this administration keeps telling corporate America that they have too much money, and can try to convience the American people that big business is just greedy, then this is the problem you get.Why would you keep your business here if all they are going to do is take everything you make? Suddenly it's not fair that you work hard for your paycheck, while others sit on their butts and wait for their handouts. Honestly, If I owned a large business at this time, I would be moving my operations abroad. And I am willing to bet that you will soon see the end of Corporate America as we know it, and of course with that goes the jobs.....Taxation with out Representation violates all of our rights. Maybe this is what it's going to take for people to wake up. The math is so easy, if we don't have corporations that produce jobs, so that we can tax the people that not only create but work these jobs, where else are you going to get tax dollars to keep this company afloat? Let alone pay for all the welfare. There's not going to be any revenue, so then all that's left is crumbs.....Government needs to support the working class, and quit dumping on us and treating us like we're stupid. We're tired of Tiny Timmy and the rest of these loons.

Posted by: becky10 | March 27, 2009 11:16 AM | Report abuse

I think what concerned citizens need to do is to assemble 1 million people in Washington D.C. soon to protest the Obama administrations' dismantling of the Constitution. We cannot afford to do nothing and let the administration destroy the freedoms that so many patriots fought and died for. Now is the time the tries men souls.

Posted by: gbelter | March 27, 2009 11:39 AM | Report abuse

Your tax money?
America is broke.
You mean the Chinese money.

Posted by: wanttoknow1 | March 27, 2009 11:47 AM | Report abuse

THe fact that there are citizens arguing against the American peoples interests, and for the interests and power grabs of the current politicians, shows just how much brainwashing has occurred over the last 30 plus years. WTG public education.

Posted by: mcstacy29 | March 27, 2009 12:10 PM | Report abuse

"OK lets get it straght, Congress did not mind spending trillions of dollars for the war and other no bid contracts!!! Now in order to have regulations to control the system and spend to get us back on track....it is radical!! ha ha Where were all of their ideas BEFORE the bottom fell out???? I did not hear their ideas in the last year before Pres. Obama took office.!"

Trillions? No, ~$600B A lot of money, but less than either stimulus and 50% of the 2010 budget deficit of 1.2T.

Posted by: bs11231 | March 27, 2009 1:12 PM | Report abuse

This POS paid his TAXES yet?

Posted by: DickTuck | March 27, 2009 1:21 PM | Report abuse

Shadowduskeve

I tell you what, you come try to take my guns and I'll be the Fort Sumter of this revolution.

Posted by: Romba55 | March 27, 2009 1:30 PM | Report abuse

Where we made our first mistake, is electing this congress and senate. They, along with Obama are the most radical politicians this country has ever seen. This president, with their support is going to bring this country down to it's knees. If Obama stays in power for the next four years we can kiss America goodbye. Why, for God's sake, did anyone vote for any of these people. That answer is simple...........ignorance. In the future, if you don't understand what's going on, keep you nose out of it. "DO NOT VOTE"

Posted by: mkimowz | March 27, 2009 1:36 PM | Report abuse

To shadowduskeve: Are you for real or just trying to get a rise out of people? If not there really must be something wrong with you. You should be ashamed. Why do you feel intitled to the fruit of another person's labor? Why can't you work and earn your own money? The fact that a person worked hard in school and chose a profession that would enable them to make good money does not make that person evil.
You sound like you must be pretty young or maybe have never been responsible for anyone else...probably not even yourself yet. Well, when you grow up, you will better understand the ways of the world and realize that you have to take care of yourself and not expect others to do so like your parents did (or maybe still do)
If you are an adult...I'm sorry, you must not have many accomplishments in life. If you did you would not be trying to take advantage of the accomplishments of successful people.

Posted by: enmndyl | March 27, 2009 1:48 PM | Report abuse

Why does Geithner look like Ed Haskel from Leave It to Beaver. He even looks and acts like the character. Shifty, conniving, suck up, then acts like he's your best friend.

Posted by: VRWC2 | March 27, 2009 1:51 PM | Report abuse

rtfanning's comment 3/26 @1:32pm was spot on. B. Hussein is a Statist, as such, he is at complete odds with the Founders and their guiding principles. The Statist handbook is Alinsky's "Rules for Radicals". Professors Cloward and Piven were Alinskyites, and they devised a strategy that would bring capitalism to it's knees and usher in socialism. The events of the past year are right out of that strategy. With freighting efficiency, the Statists are attempting to eliminate private enterprise and private property. All pretense is now gone, and how can they let a "good crises" go to waste? Their time is now, and if not stopped, America will no longer be the "Home of the brave, and the land of the free"!! Liberty and freedom must be eliminated for Statism to succeed. B. Hussein is doing his part and the 5 American hating billionaires, lead by George Soros comprise the Democracy Alliance, owners and operators of the democrat party and are B. Hussein's handlers. They are his teleprompter.

Posted by: jmlanning7777 | March 27, 2009 1:59 PM | Report abuse

What an irony. Nothing could be more transparent than their own greedy attempt to takeover the economy.

If the President was so capable, so wise, and so knowing, why didn't he show his stuff while in the Senate of the United States? The problems that have now surfaced were all there for a long time. And yet, he did nothing!!!

He's not that smart!!!! Neither is the media. Both lack common sense.

Posted by: kflb | March 27, 2009 2:35 PM | Report abuse

Tim Geithner reminds me of guys in my business classes who made A's but could barely find their way around campus. This guy is all about theory, but not practice. I'll even go so far as to say that he has never balanced a checkbook or tried to stretch a dollar beyond what you think you can. Also, this is a blatant power grab. It's almost as if we are living a bad movie where the general populous is hypnotized by the villain and only a few of us are not susceptible to mind control.

Posted by: supermom | March 27, 2009 3:42 PM | Report abuse

When will you get your piece of the Treasury secretary's plan? Play Six Degrees of Tim Geithner.

http://businessmonkey.today.com/2009/03/27/six-degrees-of-tim-geithner/

Posted by: paulseaburn | March 27, 2009 4:49 PM | Report abuse

Thank you Obama voters

I am frightened out of my mind. I live 30 miles from DC and I do not even feel safe anymore. I miss Boosh, at least he wasn't a egomaniacal empty suit

Posted by: rdb2 | March 27, 2009 4:57 PM | Report abuse

We need to DECIMATE ACORN
This Obama person will be re-elected easily with the help of ACORN, trust me on that one.
ACORN is the reason this fraud was elected

Posted by: rdb2 | March 27, 2009 5:08 PM | Report abuse

Here we go.....republicans who did absolutely nothing to help this country for eight long and horrendous years but drive it into the ground NOW HAVE PLANS all over the place and are denying and obstructing everything obama's administration is doing to try to bring us back from where they took us. Well they country knows they know good and well whose put us into the mess we are in and in 2010 they will sweep every single one of the republicans into obscurity.

Posted by: msealock | March 26, 2009 9:53 PM

OK msealock...here you go...I'm not sure where you've been getting your news information over the last eight years...I have to assume SNL or Olbermann. You do realize these are sitcom/variety shows don't you? The economy was booming for most of the Bush administration. The biggest mistake he made was growing the government too much. The times when Bush acted like a liberal democrat were the bad times. One of the reasons we are in this mess had quite a bit to do with the dems in Congress. Republicans warned the dems in Congress more that 2 years ago, when the dems took over, that there could be problems with Fannie Mae and Freddie Mac but the dems would not listen. Giving morgages to people who could not afford them started with Jimmy Carter and continued with Bill Clinton. That's two main reasons of why we are here. Plus corrupt politicians like Barney Frank, Chris Dodd, Maxine Waters everyone obama has named of tried to name to his cabinet!!! To name a few.
Those three have all benefited from some of the companies you are hearing about in the news now. Guess who got a bunch of campaign money from AIG...our new prez!! Does he have to give that back?
Why didn't obama do anything to try and stop this when he was in Congress? If he is so brillant, why did he not pick up on it? John McCain did but the Democratic Congress shut him down.
Also, corrupt loan officers who were getting paid for these bad loans. And let's not forget the really, really stupid consumers not understanding the difference between affording a $600,000.00 home or a $95,000.00 home. Or taking money over and above their home loan. How stupid can some people be?? Quite! You need to get your facts straight, for your own good.
The democrats went after George Bush to vilify him because they feared how popular he became after 9/11. Many people fell for it because they don't know what the heck is going on. It's scary to listen to people, many who voted for obama, who have no idea how our country works, no idea what the Constitution says. They don't realize how many of our rights could be taken away.
Also, why would you want one or the other party to be "swept into obscurity"? I for one think we need as many ideas as possible. Third party ideas too. We should focus on our principles and our rights given to us in the Constitution. The politicians will let us down much of the time. "We the people"... these should be very powerful words to Americans.

Posted by: enmndyl | March 27, 2009 5:22 PM | Report abuse

shadowduskeve, Where to even begin on your ridiculous comments. I have to speculate that if you even do work or the only thing you work is your amazingly uneducated mouth. Your man Obama, you are a damn fool. This affects you too. This will effect your children, providing in the event some unlucky human and you actually mate. You are exactly the example of the type of people that drag this country down. I believe you need a little something called facts if you would like tom post such a scathing reply on a subject. Your just caught up in the "Glo Bama" like the rest of these wannabe facists. I cannot beleive that I read that. So you take our money and what would we get in return from such a productive member of society. Probably the clap. Write back if you wish. I welcome the chance to trade barbs with such an obvious fool. To the rest of you people who actually make sense on this board, be it democrat or republican alike. Keep fighting we will be heard!

Posted by: hesh777 | March 27, 2009 5:26 PM | Report abuse

Representative Manzullo was half right when he said to Geithner: Your plan is "Radical." He should have completed the accusation of Geithner: Your plan is "Radical" and you are a "Radical."

Posted by: dosado1 | March 27, 2009 6:26 PM | Report abuse

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