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Bailout Fallout: What Should McCain and Obama Do Next?



Barack Obama and John McCain at last week's presidential debate in Oxford, Mississippi. Photo by Scott Olson -- Getty Images

Less than 24 hours after the bill to bailout the financial industry died an ignominious -- and surprising -- death in the House of Representatives, both presidential candidates are jockeying to find their footing in a new political reality.

Barack Obama was first out of the gate this morning with a two-pronged approach: a new proposal to increase the cap on federally insured bank deposits from $100,000 to $250,000 and a new two-minute television ad in which he seeks to make the case that he, and not John McCain, is ready and able to lead the country out of its current financial morass.

McCain, in an appearance this morning on "Fox and Friends," offered a few proposals of his own including: the same increase on FDIC insurance on deposits proposed by Obama, tapping the "exchange stability fund" at Treasury for $250 billion to shore up financial institutions and urging Treasury to use the $1 trillion at its disposal to start buying bad mortgages in hopes of turning the corner on the current crisis.

The flurry of activity this morning speaks to the huge political consequences of the ongoing battle to rescue the economy. Nearly every American is now paying attention and worried about the impact of the failure of the bailout on their own lives. In polling released by the Washington Post and ABC News this morning, more than nine in ten voters said they were worried that the failure of the bill could cause even more serious economic problems down the line.

And, despite the fact -- as we have noted before -- that neither Obama nor McCain can do really do much to change the financial direction of the country, there's little doubt judging from their words and actions this past week that each candidate believes that voters are looking to them for solutions.

While the proposals this morning are a start, The Fix chatted with a number of Democratic and Republican strategists to solicit their ideas on what more (or less) Obama and McCain could do to "win" this issue with just 35 days left before the election.

The best of their thoughts, and some of our own, are below. Agree or disagree? Have thoughts of your own? Offer them in the comments section below.

MCCAIN

Go Negative: Many Republican strategists believe there is simply no way for McCain to win an economic-focused election by touting his own plans to turn things around. "Go totally negative and don't let up until election day," advised Ed Rogers, a longtime Republican strategist and lobbyist. "This election needs to be about Obama and what a liberal he is. Period." Another Republican operative added: "Start attacking Obama's character relentlessly (again) if the McCain campaign has any hope of regaining the initiative.... It's not like there isn't plenty out there." The Republican National Committee seems to be following that advice with a new ad from its independent expenditure wing that savages Obama on his proposal to spend $1 trillion more on new programs; "Obama's spending plan: It'll make the problems worse," reads white writing on a black screen at the ad's close.

Stay out of Washington: McCain's initial campaign suspension gambit is widely seen in Republican circles as a failure. Don't repeat it. The more McCain reminds voters that he is "of Washington" the worse this issue plays. Always remember that less than one in five Americans approve of the job Congress is doing and a similar number believe the country is on the right track. "I don't think he should return to Washington because that just reminds and re-chatters that he returned to Washington the first time and didn't get it done," said one GOP strategist.

Persuade Privately: McCain's very public role in the negotiations blew up in his face last week. So, take the opposite tact; go underground -- organize private meetings with GOP House leaders out of the public eye to convince them of what is at stake if no bill is passed. The blame game seems to be falling inordinately on Republicans -- particularly House Republicans -- at the moment and that is bad for the GOP up and down the ticket. (Fifty-four percent of Fixistas said House Republicans should bear the blunt of the blame in our decidedly unscientific poll last night.) "Stay out of the negotiating squabble," argued on Republican consultant. "Stay quiet publicly if rumors leak out of any overt 'involvement' in them."

Summit It: Take the lead in calling for a summit between himself, Obama and their top five economic advisers. Leave Congress out of it. Hope -- and do everything you can to ensure -- that a plan emerges from that high-level summit. If the two presidential candidates can get together on a plan, it's hard to imagine that Congress would balk at the proposal. Of course, after yesterday's vote, anything is possible.

Moveon.org: Under the belief that this issue cannot be won, stay in the background and hope that a solution is found sooner rather than later. McCain's attempt to be the "man in the arena" flopped last week and that should be a sign that this is an absolute no-win for the Arizona senator. "The bottom line politically is McCain needs this behind him as soon as possible," said Phil Musser, a Republican consultant and former executive director of the Republican Governors Association. "Every day we are in this limbo where top line messaging lies well beyond our control . . . is a bad news day for us."

OBAMA

Do Nothing: The desire for change in Washington has been growing almost by the day since the financial crisis began nearly two weeks ago. To date, Obama has largely adopted a hands off approach, refusing to be baited by McCain's call to suspend his campaign last week and postpone the debate. And, it's worked. Public and private polling has shown an Obama rise/McCain drop in recent days -- as the average voter seems to be reacting more positively to Obama's sober approach to the crisis than McCain's more frenzied strategy. "Putting aside substance, the politics of this favor Obama so he doesn't have to do much, if he doesn't want to," said one Democratic consultant.

Summit It: The only suggestion that cropped up in our conversations with both Democrats and Republicans was the convening of a bipartisan summit led by Obama and McCain. "[Obama] should call McCain and the two of them should convene a private unity summit for Republicans and Democrats to come together to hash out an acceptable final product," said Phil Singer, a former senior official for Hillary Rodham Clinton's presidential campaign. "They should make it clear that in the interest of producing a bill, they will play no role in the process -- so as not to politicize things further."

Reintroduce the Stimulus Package: A bill aimed at providing the economy a shot in the arm passed the House last week but has been held up in the Senate. Obama, according to several Democratic sources, should re-introduce the bill and demand its passage as a necessary momentum-builder for an economy badly in need of some good news. "Obama should say we need to make sure that Main Street is a part of this effort and not passing the stimulus is a mistake," argued one Democratic strategist. "It makes McCain go on the defensive and [he] would have to come back and vote for it -- would be horrible if he voted against it."

By Chris Cillizza  |  September 30, 2008; 12:05 PM ET
Categories:  Economy Watch , Eye on 2008  
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Comments

Here is my take on three things that may help McCain.

1. On Energy propose a new initiative to convert American's cars and trucks to use both petrol and CNG. Have the Big Three automakers manufacture the conversion kits and install them at a total cost of less than $1000 per vehicle. This puts autoworkers back to work manufacturing the kits and mechanics installing. Have the EPA and the CA regulatory agency work with the automakers to quickly design and test the conversion kits that do not already exist at reduced cost under a national energy plan provision. Work with the natural gas companies nationwide to install and maintain the CNG compression and filling appliances at citizens homes at no cost. It is being done in Canada today, why not here. The gas companies get a tax credit on income. This is one of the quickest ways to reduce consumption of foreign oil and it does not require citizens to take on new debt for a new vehicle. Because the conversion is to bifuel citizens can use CNG in town and petrol when traveling thus eliminating any immediate need to build out a massive distribution system. That can and will happen when the conversions are installed and there is a market for CNG refueling capabilities at service stations.

2. Challenge Obama on his socialist/collectivist positions. Clearly the tax plan he proposes mirrors the Marxist statement, "From each according to their ability, to each according to his need." An objectivist opposition to such collectivist ideology with a clear emphasis on the fact that the communist experiment failed miserably in the USSR can be made. Take the high road and make this about a challenge to Obama's basic philosophies that diminish the contribution of the individual and punish them through taxation of creative effort. The act of pandering to those who would rather take than make is counter to the basic principles this great country was founded on. To rise to the challenges we face will require great contributions of creative effort. We need to elevate and protect the individual creative contributions and unalienable rights rather than snuff out the bright lights that have defined America's strength in all sectors.

3. On the economy it was greed and a desire to acquire wealth without effort that brought us to this point. It will require a return to the tried and true traditional economics to pull us out of it. The debt we as a nation will acquire from the financial institutions who helped make this mess must be purchased at a very steep discount to ensure that it is an investment and not a bailout. The profits were enormous because the risk was high and they all knew it. The return to a healthy economy will be painful and most of that pain should be carried by those who tried to game the system. In the case of families facing foreclosure if they took out a mortgage that was unsustainable at the fully amortized rate on their current salary the mortgage should be acquired by the treasury at a steep discount and the home rented to the family for the teaser rate with the option to buy again once they have saved enough for a traditional down payment. The lender never should have made that loan and the family never should have taken it out. As far as derivatives and MBS go the value of the instruments must be tied to the underlying value of the properties and that is a dynamic value right now based on still falling property prices. These property prices must be allowed to find their own bottom because they were driven high as part of a mania. Reversion to the mean is what must happen to wash the dirt from this system. Support for the financial system will only come when the system itself regains confidence that a value has a realistic basis. Any artificial floor in the market will be as stable as wet tissue paper and the entire world economic system demands a solid base to rebuild.

Posted by: oc-ed | October 7, 2008 4:22 AM | Report abuse

Cillizza,
You have a hell of a way with words.
Whoops, was that too sarcastic?

Posted by: virgilio1 | October 2, 2008 4:01 AM | Report abuse

We need to stop setting standards so low for the people running to lead this country. This is not a competition for Ms. Alaska, Sarah Palin cannot just come out and wave to the crowd and assume that is all. Both candidates need to be held to the same standards of expectations. One of them is going to be Vice President of the United States of America. One of them will be only a heartbeat from being leader of the free world. The stakes are high for both candidates!

http://askaboutpolitics.blogspot.com/2008/10/sarah-palin-and-politics-of-low.html

Posted by: askaboutpolitics | October 1, 2008 8:23 PM | Report abuse

Where is McCain? Oh, he parachuted in late again and still working on his floor speech. Late again.

Posted by: MILLER123 | October 1, 2008 6:43 PM | Report abuse

Democrats for John McCain and Sarah Palin in 2008

Posted by: hclark1 | October 1, 2008 1:20 PM | Report abuse

If Ford sold automobiles with defects, they recalled them. The Fed's own Freddie Mac and Fannie Mae sold toxic mortgage packages to financial institution worldwide, why don't they just recall them like Ford was doing instead of using terms like 'bailout' and 'rescue'?

Posted by: peterdaol | October 1, 2008 8:32 AM | Report abuse

Let me make this "clear". This bill is not going to help people that are affected by this crisis by no fault of their own. There is only one good thing coming out of this bailout proposal, we are now going to see who actually are representing the people and who aren't. Now we are going to see who the bums really are and throw them out of office.

Posted by: jw360 | October 1, 2008 7:22 AM | Report abuse

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Posted by: 37thandOStreet | October 1, 2008 7:04 AM | Report abuse

Unfortunately for McCain, he's getting very bad advice from his Bush advisors, none of whom are conservatives. Instead of taking the side of House conservatives who along with the leftists opposed the Bailout, McCain says "We must pass SOMETHING!", an idiotic phrase that is THE very reason why so many Americans are siok of politicians. McCain should be sat down and lectured about how "A bad, horrible bill is worse than doing nothing at all, you idiot!" And worst of all, McCain refuses--as he did with his Amnesty bill with Ted Kennedy--he REFUSES to "listen" to the American people, who are looking for a leader. McCain is blowing every chance to win this thing. I've frankly never seen a more stupid candidate than McCain.

Dems Fazio and Kaptor have an RTC-type of bill that they're going to present to the House in Thursday. They appeared on Lou Dobbs yesterday to discuss it. It won't cost taxpayers a dime. It's worth a try, I think.

Fearmongering (as Bush, Paulsen, Pelosi and others are promulgating) isn't the answer.

As for me, I'm waiting to see if the House conservatives have a bill of their own that, combined with the Fazio-Kaptor plan, could be hammered out and passed to the Senate.

Posted by: levotb1 | October 1, 2008 6:42 AM | Report abuse

Dennis Kucinich for President! He is against this bill. This is true leadership. Read about his proposals here.
http://kucinich.house.gov/News/

Posted by: jw360 | October 1, 2008 1:08 AM | Report abuse

MAV702!!!!!!!!
If you really believe your BS you indeed are the idiot. THE CONGRESS RUNS THE COUNTRY. HENCE LIES THE PROBLEM. IT'S CURRENT OCCUPATION: DEMOCRATS AND DIRTY ONES AT THAT.

Posted by: xvwvwvwvwvwvwvwvwvwvwx | October 1, 2008 12:58 AM | Report abuse

Look at this picture people. Barrack Hussein Obama wears the rebellious smirk of a con. I must say also after all the times it was mentioned how John McCain didn't even look at the poor JR senator, that Obama over and over was the rudest candidate I've seen in years talking over McCain again and again. The guy has no respect at all. Another bully in office? No thanks. The comment BHO made about children around the world not wanting to come to America anymore their balloon has been busted, was disgraceful to my country. Please explain why the millions were just given citizenship and ONE-HALF MILLION more Melendez of Ca-D is still trying to get bullied through. Where are the people that hate my country like you say? And why are people coming in droves if you tell the truth. I'm sick of you and your wife saying things of typical gloom and doom about my country. You took special note with soft words of Kenya, so why don't you go live there? PLEASE

Posted by: xvwvwvwvwvwvwvwvwvwvwx | October 1, 2008 12:51 AM | Report abuse

Listen carefully to this 8 minute video from a hearing committee meeting from 2004. It is pretty clear as to who is to blame. Quite an eye opener.

In their own words covering up the Fannie Mae/Freddie Mac and Economic Crisis.


http://www.youtube.com/watch?v=_MGT_cSi7Rs

Posted by: xvwvwvwvwvwvwvwvwvwvwx | October 1, 2008 12:36 AM | Report abuse

Dick, your name fits you! How can you tie Obama with Bush when infact McInsane was the number one cheerleader for that bailout package??? Democrats were just being patriotic and made lots of revisions on the original proposal. McInsane even went to the White House to so-called convince his party to vote for the bail out. The problem with the Republicans particularly the House Represenatives, all of them are so-called mavericks who'd oppose something just for the heck of it. That Boehner looks and smells like he'd run for presidency soon - a political stunt. Cantor even brought a copy of Pelosi's speech, reasoning that as the sole culprit for ruining the deal. What a shame, you put your petty feelings first before the country. That Cantor looks stupid anyway, he wanted a photo op for future vacancies. Let's set things straight! This is a Republican country for it is headed by a Republican president who happened to be an idiot. Democrats rule the House and the Senate the last 2 yrs - 2 yrs too late from the last 6 yrs these Republicans ruined our country, 2 yrs too late that we dig a very deep hole that none of those last 2 yrs were enough to clean up the wreck. These same House Republicans who doesn't support their very own president. That makes sense to me, let's vote for another Republican term and these terrorists would be glad these Republicans are doing their job for them - Bush and the Republicans brought as here and HE would be known in history as the one who destroyed America. Dumb McInsane and the even dumber Palin would be a great tag team of disaster. Is this the best America could offer??? Let's bring back some smart intellectuals who could really run this country. 8 yrs of comedic disaster is enough.

Posted by: mav_702 | October 1, 2008 12:34 AM | Report abuse

From "Fact Of The Matter"
http://www.need4trth.blogspot.com

Camp McCain today issued a new Propaganda ad Called "rein", in which the RNC pointedly accusses the Democrats for the oncoming financial catastrophe that this current administration, and not too mention The past Administreation of Ronald W. Reagan' which begin this snowball effect when they begin undoing the regulations that were in place for banks....

Regarding "Regulating Banks: Enough Already" (Viewpoints, Feb. 7), let's see if I have it straight. Deregulation in the 1980's under President Reagan led to the savings and loan scandal, which led to the Federal bailout, which led to increasing the national debt -- and in the process caused some people to be led to jail.

Now comes Jay Baris, a New York financial services lawyer, arguing (presumably with a straight face) that President Clinton should further deregulate banks. Am I missing something?


THE CLINTON/REPUBLICAN FACTOR....

Clinton, Republicans agree to deregulation of US financial system
By Martin McLaughlin
1 November 1999
Use this version to print

An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.

JOHN MCCAINS PART....

John McCain: The Deregulator
I don’t think anyone who wants to increase the burden of government regulation and higher taxes has any real understanding of economics and the economy and what is needed in order to ensure the future of this country.”
– John McCain [McCain Town Hall in Inez, Kentucky, 4/23/08]

McCain Is An Avid Supporter Of Lax Rules For Financial Institutions
McCain Supported A Banking Bill Because It Eliminated “The Tremendous Regulatory Burden Imposed On Financial Institutions.” While speaking in favor of bank deregulation on the floor of the senate, John McCain said, “This legislation takes a small but important step toward eliminating the tremendous regulatory burden imposed on financial institutions… One principal reason banks are unable to make loans is the bewildering array of statutory and regulatory restrictions and paperwork requirements imposed by Congress and the regulatory agencies. While a case can certainly be made that every law and regulation is intended to serve a laudable purpose, the aggregate effect of the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community.” [Congressional Record, 11/19/93; emphasis added]

so we now have a brief history leading up to this mess and John McCain is wrapped right in the middle of the NET of blame he is trying to cast on the DEMOCRATIC PARTY
while he lies in this propaganda ad that Obama is silent...

Posted by: need4trth | October 1, 2008 12:24 AM | Report abuse

Times are tough. I think the banks need to just need pull themselves up by their bootstraps. I give the same advice they give the rest of us.

Posted by: jw360 | October 1, 2008 12:23 AM | Report abuse

.

JRM2:
"I don't give a rat's A** about YOUR OPINIONS"

Then you shouldn't have ask me why Wright gave Farrakhan the "Achievement of the year award".

"you are trying to make an argument pal so base it on FACT. How helpful is it to readers that you say "because he wanted to" that's non-answer typical of a child.
Your alacrity for intelligent discourse is alarmingly deficient."

This is typical of most Obama supporters. They lose their butt in a discussion, then turn to ad hominem (personal attacks). I suppose one does what one must....

.

Posted by: Billw3 | September 30, 2008 11:52 PM | Report abuse

No one cares. Obama has a 30 point lead on the trading market the most accurate predictor on who will win. Obama is at his highest rating since July. Mccain is at his lowest since May. You may not like this but all the indicators say this is over. There is not a poll that obama does not lead in. Most all are out of the margin or error.


--------------
America still does not know who the real Barack Hussein Obama is, but Americans remember Obama’s 20 year close association and blood relationship with his religious leader, priest and father image, Jeremiah Wright.

Americans remember vividly the hideous videos of Jeremiah Wright's congregation which included Obama and Oprah, when they were celebrating in bombastic joy, the murderous attack on America on 9/11.

Americans that love our country and have always been proud of it, know Barack is a radical extremist and black supremacist that has a hidden agenda that is a serious threat to the American values we all treasure and cherish.

Country First!
McCain/Sarah Palin
Posted by: Manolete | September 30, 2008 9:13 PM | Report abuse

Posted by: popasmoke | September 30, 2008 11:33 PM | Report abuse

What should they do? They should distance thierselvs as far from this atrocity of a 'Bailout' plan as possible.
The question is what should we do as taxpayers.
E-mail and call our state reps. and senators and tell them NO! This isn't our mess to clean up.
I e-mailed my rep and senators and told them, that if this bill passes, they are not getting my vote.

Posted by: Bobo4bush | September 30, 2008 10:32 PM | Report abuse

fortunately there are enough voters who have had enough (8 years) of fear mongering, that has manipulated too many into buying into the republican administration with its trickle down policies... they don't work for the average citizen.
it's obvious that short of the few real conservatives that really have a heart for the country, McCain NOT included, most republican propaganda (all negative) is HOG WASH.
fortunately bigotry and the baser instincts that pervade the republican platform and campaign tactics are not drawing cards for the majority.
GOP get out of the way and let the youth embrace its responsibility to shape the future. GOP reshape yourselves into a party that can contribute to the common good someday.

Posted by: ukeman | September 30, 2008 10:25 PM | Report abuse

Mr. Moogie: Regarding my use of the term "socialism," I'd refer you to a good encyclopedia, or a Poli Sci 101 course.
Have a nice day.

Posted by: scrivener50 | September 30, 2008 9:34 PM | Report abuse

FIXISTA, BEWARE: IS BIG BROTHER HACKING YOU?

http://www.nowpublic.com/world/parallel-internet-big-brother-screening-censoring-political-blogs OR (if the link becomes disabled)
members.nowpublic.com/scrivener re: "The Parallel Internet..."

p.s. If my links don't work, could you please contact nowpublic.com site administrators via their "contact" page or a post to another nowpublic.com blog? My blog site apparently is under constant attack...

Posted by: scrivener50 | September 30, 2008 9:17 PM | Report abuse

America still does not know who the real Barack Hussein Obama is, but Americans remember Obama’s 20 year close association and blood relationship with his religious leader, priest and father image, Jeremiah Wright.

Americans remember vividly the hideous videos of Jeremiah Wright's congregation which included Obama and Oprah, when they were celebrating in bombastic joy, the murderous attack on America on 9/11.

Americans that love our country and have always been proud of it, know Barack is a radical extremist and black supremacist that has a hidden agenda that is a serious threat to the American values we all treasure and cherish.

Country First!
McCain/Sarah Palin

Posted by: Manolete | September 30, 2008 9:13 PM | Report abuse

"The only suggestion that cropped up in our conversations with both Democrats and Republicans was the convening of a bipartisan summit led by Obama and McCain. "[Obama] should call McCain and the two of them should convene a private unity summit for Republicans and Democrats to come together to hash out an acceptable final product," said Phil Singer, a former senior official for Hillary Rodham Clinton's presidential campaign."
____

I don't think so. One reason O has a ten point lead is that he stayed out of this bailout mess and did not try to turn it into some kind of political stunt. Mac did the opposite. He jumped in and went for the quick stunt, claimed he saved the day when in fact he disrupted negotiations that up to then had been successful. The adviser for the Clintons (supporters of O, NOT) now says: O, go back in and put your foot in it, all the way (as Mac did) with a bogus pointless summit. Great advice, NOT.

Posted by: broadwayjoe | September 30, 2008 9:09 PM | Report abuse

Poppasmoke quipped:
Next week Mccain will be saying he is really black. It is all he has left.

--------------------

LOL. Priceless.

Posted by: wpost4112 | September 30, 2008 8:14 PM | Report abuse

By the way, if you are in an early voting state, vote now. There is no excuse for waiting until Nov. 4. In Virginia, there's early voting and no lines whatsoever -- you just walk right in and vote. So if you're in one of those states, don't be whining later about long lines, broken machines, intimidation, blah, blah, blah, etc. You can vote right now.

Also, information on HuffPo suggests O's next debate, moderated by Brokaw, may be a "Saddleback" set-up. Brokaw reportedly is completely in the tank for Mac (as some kind of NBC liaison to his campaign) so they really need to change moderators unless O wants to be asked, "Do you think Rev. Wright loves America as much as you do?"

Posted by: broadwayjoe | September 30, 2008 8:13 PM | Report abuse

Next week Mccain will be saying he is really black. It is all he has left.


------------
This is not about a first black president. As white people agree that it would great for race relations to allow a black president. It is absurd to think that this has anything to do with race !! We have long had good race relations. America was ready for a black president at least 8 years ago when it was shown that Colin Powell would easily beat Clinton by no less than 10% (according to polls). In other words Colin , a black, would have easily been our next president--if he wanted. So why is black an issue?? There are other politicals who are black whom I could much easier accept but I will never accept this liberal Hallmark card. The only thing Obama represents is: that the chance for the Republicans to appeal to the blacks is crushed (because who would vote against one "of their own" to support a Republican). LOTS of whites will be voting for the WRONG reason just to break the glass ceiling and become a "part of history" to vote in the first "black" (he is only half black) president. Reporters are going to continue to taught Dr. Martin Luther King's dream and how it is finally becoming a reality. AH, just a minute, it became reality a long time ago--just the Blacks won't accept it and the reporters are too stupid to realize it--I guess they have needlessly guilty feelings for being white.

Posted by: Fred29 | September 30, 2008 8:07 PM | Report abuse

Posted by: popasmoke | September 30, 2008 8:09 PM | Report abuse

Well then I'll put it another way, see if you can wrangle this: Wright gave Farrakhan the award because he wanted to. That's a fact, now what? I suppose you'll ask me why he wanted to?

Posted by: Billw3 | September 30, 2008 6:32 PM |"

I don't give a rat's A** about YOUR OPINIONS, you are trying to make an argument pal so base it on FACT. How helpful is it to readers that you say "because he wanted to" that's non-answer typical of a child.

Your alacrity for intelligent discourse is alarmingly deficient.

Posted by: JRM2 | September 30, 2008 8:08 PM | Report abuse

Obama now has a 29.5 point lead on intrade. I think after Thursday depending on how bad Palin does and rumors have it Mccains people are in a panic, she is so clueless, their words. This will be pretty much over.

Posted by: popasmoke | September 30, 2008 8:07 PM | Report abuse


From:
Head of State
http://headofstate.blogspot.com/2008/09/great-moments-in-american-history.html

Monday, September 29, 2008
Great Moments in American History

The Signing of the Declaration of Independence:

House Republicans: "We were going to sign. We were. We had dipped our quills in the very ink. However, it was then that John Witherspoon made a rude noise, directed at our very standing area. Therefore, we refused to sign."

The Gettysburg Address:

Lincoln: "Four score and seven years ago...Why are you looking at me like that? No, I mean like that. Don't look at me like that. I refuse to continue."


D-Day:

General Eisenhower: "Men...off the carrier and to the shore! No...No...I said it nicely. I was just trying to be enthusiastic. No, I didn't mean that you wouldn't get off the carrier. No, that's the usual tone of my voice.

Man's Landing on The Moon
:
Neil Armstrong: "That's one small step for man, one giant...What, Buzz? No, I'm not trying to imply anything. No, I've never even thought about that. Yes, we all have the same size suits. No. Size 9. Yes, double E."

The Stabilization of the American Economy in the 21st Century:

"You hurt our feelings."

From:
Head of State
http://headofstate.blogspot.com/2008/09/great-moments-in-american-history.html

Posted by: caraprado1 | September 30, 2008 8:07 PM | Report abuse

" What of the above do you disagree with??

Posted by: Repub | September 30, 2008 7:02 PM"
-----
I don't disagree, what makes you think so?

Posted by: JRM2 | September 30, 2008 8:07 PM | Report abuse

This is not about a first black president. As white people agree that it would great for race relations to allow a black president. It is absurd to think that this has anything to do with race !! We have long had good race relations. America was ready for a black president at least 8 years ago when it was shown that Colin Powell would easily beat Clinton by no less than 10% (according to polls). In other words Colin , a black, would have easily been our next president--if he wanted. So why is black an issue?? There are other politicals who are black whom I could much easier accept but I will never accept this liberal Hallmark card. The only thing Obama represents is: that the chance for the Republicans to appeal to the blacks is crushed (because who would vote against one "of their own" to support a Republican). LOTS of whites will be voting for the WRONG reason just to break the glass ceiling and become a "part of history" to vote in the first "black" (he is only half black) president. Reporters are going to continue to taught Dr. Martin Luther King's dream and how it is finally becoming a reality. AH, just a minute, it became reality a long time ago--just the Blacks won't accept it and the reporters are too stupid to realize it--I guess they have needlessly guilty feelings for being white.

Posted by: Fred29 | September 30, 2008 8:07 PM | Report abuse

Real brother:

Lets see... he overcame the oppression of being born to a well-off middle class white woman and a Harvard Ph.D. father. He overcame the oppression of attending private schools his whole life. His life took a dark turn when he was admitted to Columbia and then Harvard Law school where they practically lynched into the position of President of the Law Review--and from there his life was a "hell" of accolade and accomplishment. Oh, in his defense the liberal media will say over and over ,"his funny name, Obama got him made fun of when he was young.."

Posted by: Fred29 | September 30, 2008 7:59 PM | Report abuse

THE WALL STREET BAILOUT IS A TRAP:

YOU DID THE RIGHT THING people by stopping this 700 billion dollar bailout of Wall Street with your money. It's a trap set by the Bush McCain administration years ago to spring on you, and the World just before the November elections. It will cripple our economy for years to come by taking away money from important social programs like health care reform, education, and social security.

What ever congress does to try and fix our stunning economic catastrophe needs to be done very carefully. Congress needs to take their time, and be sure of what they are doing. Whatever is done needs to be sharply focused at helping, and protecting the best interest of the ordinary Americans. In particular the vast American middle class. 700 billion dollars is a lot of the peoples money to spend to bail out a bunch of corrupt Bush loan sharks.

When have you ever known any government plan, or project to only cost what the government said it would. Remember the war in Iraq. Bush and his so-called advisers said it would only cost you about 80 billion dollars. But we now know that the war in Iraq will cost you, and your children, and your grand children over a trillion dollars, and still counting.

So if 80 billion can end up costing you over a trillion dollars. How much could 700 billion end up costing you. Any math wizards out there. I come up with 9 trillion...:-(

My fellow human beings, just as I warned you ahead of this catastrophic economic meltdown, I must now warn you that what is ahead has the potential to be even more catastrophic than what we are going through now. The worlds geopolitical landscape has been booby trapped by the Bush McCain administration and their republican allies in congress. These booby traps are poised to spring at any time.

Fortunately the Worlds Nations have been blessed with many excellent leaders (except the US) who have been careful, wise, strong, and self-restrained in dealing with the provocations, and antagonism's of the Bush, McCain administration.

Barack Obama and the democrats are your best hope now. Tell your family, friends, and everyone you know to support them as best you can, and vote for them like your life, and the lives of your loved ones depends on it. Because it does. You will not survive 4 more years of Bush McCain.

JACK SMITH - WORKING CLASS...

Posted by: JackSmith1 | September 30, 2008 7:58 PM | Report abuse

O does not have to do anything, just be O.

O is ahead by 10 in the national polls (DailyKos) and is over 300 in the electoral maps (Real Clear Politics), and equally important his trending is up. Even George Will has bailed on Mac and Mrs. P.

Regarding the bailout, O needs only to make sure that in the final bill the middle class folks have some clear stake in the bill (e.g., help for homeowners) and there's a guard against Carly Fiorina-type golden parachutes (if an institution is bailed out, no parachutes for its execs).

It would help if O or Axelrod shut down Bitter Bill Clinton's and his missus's Say-No-to-O tour. It is tiresome, bigoted, and foolish. It has served no purpose beyond making Bill the brunt of jokes on Letterman and eliminating the Missus for good from the pres. race in 2012, 2016, 2020, 2024.

Nick Gillespie in this past Sunday's Sunday New York Post wrote an insightful article explaining in detail the clinically diagnosable psychosis that is responsible for Bitter Bill trashing the nominee of his own party.

Bill's antics are a desperate cry for intervention (no, not by Lewinsky or Dolly Kyle Browning or Paula Jones, come on, this is serious). Sadly, Bitter Bill's ravings are now starring in new Mac ads just as the Missus's ads were featured in earlier Mac ads. Pulitzer Prize winner Maureen Dowd, who was just kicked off Mac's campaign plane for practicing journalism, was right: Mrs. and Mrs. Wm. J. Clinton are working hand in glove with Mac and Mrs. P. to try to defeat O. It won't work but that's just what they're doing. You called it, Mo Do.

From HuffPos today -- Conservative icon George Will trashes Mrs. P.:

"Famed conservative columnist George Will told a gathering of Senate aides on Monday that Gov. Sarah Palin is "obviously" not prepared to assume the presidency if necessary, two event attendees told the Huffington Post.

Appearing at a Senate Press Secretaries Association reception at the Cornerstone Government Affairs office, Will offered a harsh assessment of John McCain's running mate.

Palin is "obviously not qualified to be President," he remarked, describing her interview on CBS Evening News with Katie Couric as a "disaster."

Will did state, according to a second source, that Palin has received rough treatment from the media; arguing that the Alaska Governor would have been "skewered" by the press if she had made some of the same gaffes as Sen. Joe Biden has in recent weeks. But his sympathies only extended so far.

Will has already been critical of the other half of the Republican ticket, calling McCain's handling of the financial crisis "un-presidential" just one week ago. And in offering his take on Palin, the longtime Washington scribe becomes the latest in a list of respected Republican officials who have now soured on the Palin pick."

Posted by: broadwayjoe | September 30, 2008 7:42 PM | Report abuse


What Obama should do:
He's already doing it. A lot of voters are starting to recognize that he is not playing old politics : he can agree with McCain when he thinks the man is right, and disagree with him when he thinks he's wrong. He's been able to disagree without becoming demonizing his opponent.

Obama didn't rush to take credit for something that didn't subsequently happen: he was prepared (his transcripted remarks) but didn't give them because he was going to comment after he knew what happened.

Obama didn't insert himself into the process where it wasn't appropriate. He worked behind the scenes.

Really, he's doing pretty much what he should be doing. It's McCain that doesn't know what to do. Literally.

Posted by: dpc2003 | September 30, 2008 7:04 PM | Report abuse

.

Realbrother000:
"Bill, the reason why I answered my own question is because I knew the Racists, White Supremacists and Black man hating lesbians wouldn't."

I agree.

.

Posted by: Billw3 | September 30, 2008 7:04 PM | Report abuse

37th&O - You spammed the wrong Fix entry, dumba$$. Cut and paste that drivel over on the Torricelli post.

Posted by: bondjedi | September 30, 2008 7:04 PM | Report abuse

Real Brother here.

Bill, the reason why I answered my own question is because I knew the Racists, White Supremacists and Black man hating lesbians wouldn't.

TKCAL

Posted by: Realbrother0003 | September 30, 2008 7:02 PM | Report abuse

JRM2,
The reason Wright gave the award is really quite simple,
Farakhan had been preaching that blacks should stop depending on government handouts and stand on their own two feet; should stop bearing children out of wedlock; should take school serious and get good grades; should start businesses in black communities and should support black businesses; and to buy homes to develop wealth that could be left to their children. What of the above do you disagree with??

Posted by: Repub | September 30, 2008 7:02 PM | Report abuse

I think going negative would be a huge mistake for McCain. He's already seen as much less capable than Obama to deal with this situation. Attacking Obama could serve to drag him down to McCain's level. But it runs a big risk, which is that voters end up thinking McCain has no plan to deal with the crisis. True, a lot of voters already think that.

The summit idea is a bad one: this is something for the Congress and the current administration to fix: McCain and Obama's roles are as senators.


Here's a suggestion you haven't made for McCain:

Instead of attacking Wall Streeters, McCain should attack con artists, and people who got in "over their head", unable to afford mortgages. Why should those who lived within their means bail out those who chose to live beyond their means? Propose a package that restores the credit market, but allows the rough justice of the marketplace to toss deadbeats out on the street.

It may be heartless, but it would tap into the real anger voters have on this issue. They're smart enough to realize that Wall Streeters were only doing what they do: the real ire is aimed at their neighbors who caused this whole mess.

It may not be the strategy that is best for our country, but it's the one that will get him closer to the White House.

Which is what it's all about, isn't it?

Posted by: dpc2003 | September 30, 2008 6:56 PM | Report abuse

Real Brother here.

I don't think its fair to attach Barack Obama to the Democratic Party's past.

Barack is an outsider who is new to the Democratic Party. Barack is also a genius and there are few men in any party as brilliant as he.

Its an insult to Obama to suggest that he and McCain are on the same level. McCain is where he is because he's WHITE and because he married Cindy McCain and had Admirals as a father and Grandfather.

Barack Obama clawed his way to the top,he rose from beneath the ashes(450 years of Slavery, Racism, Discrimination and Oppression).

He is a genius and THAT'S why he is where he's at. I'd trust Barack Obama with ANY plan he comes up with(what Sarah Palin's gonna's come up with a bail out plan?).

TKCAL

Posted by: Realbrother0003 | September 30, 2008 6:53 PM | Report abuse

.

Realbrother0003
"In regards to Rev. Wright and Minister Farrakhan, I want the Racists, White Supremacists and Black man hating lesbians to outline what they have said or done(be specific) that was either Racist or Anti-American? Answer NOTHING."

You addressed your question to racists, etc. Why did you answer it?

.

Posted by: Billw3 | September 30, 2008 6:47 PM | Report abuse

Actually the most shocking portion of the speech was the Forgiveness part - coming from Torricelli who was the most RUTHLESS AND UNFORGIVING PERSON TO EVER BE IN CONGRESS.


Torricelli was one of the most self-centered and evil men in politics.


Torricelli is the one who had no credibility on the way out the door - and for Torricelli again to say that David Chang was a liar when NBC News showed the EVIDENCE on television the night before was a complete joke.


Torricelli had many other scandals.


Clearly the Torricelli situation was several different scandals converging on Torricelli at once - he deserved every one of them - plus there were other allegations which people were urging the FBI and Department of Justice to investigate. Believe me Torricelli was a disturbed and sick man who should have never been allowed to hold public office in the first place - you can blame his own democratic party for not getting rid of him earlier in his career when they had several chances to support other candidates.


The pathetic nature of the democratic party led to Torricelli's rise.


In addition, one has to take notice that the democratic party officials CHOSE TO SIT BY AND DO NOTHING FOR YEARS WHEN ALLEGATION AFTER ALLEGATION CONCERNING TORRICELLI TURNED UP. Harry Reid in particular chose to look the other way when allegations came to his office.


CLEARLY THE DEMOCRATIC PARTY IS UNWILLING OR UNABLE TO PLACE FORTH TO THE AMERICAN PEOPLE RESPECTABLE AND SOLID CANDIDATES FOR PUBLIC OFFICE.


The lesson should be: the democratic party should get rid of their officials when it is clear that allegations are true - instead they have no mechanism and they always look the other way - the democratic party is at fault.

.

Posted by: 37thandOStreet | September 30, 2008 6:44 PM | Report abuse

Well, I'm disgusted with them both. Why did they even begin a conversation in Congress if the Treasury already has access to a trillion dollars (of our money)to buy mortgages? And what the heck is raising the limit on FDIC going to do for anyone? The rules don't limit anyone-- it just requires you to use multiple banks. How is that going to stop the bleeding?

This is not a house on fire. This is an abandoned house full of rats.

Posted by: hotpoet66 | September 30, 2008 6:42 PM | Report abuse

Real Brother here.

In regards to Rev. Wright and Minister Farrakhan, I want the Racists, White Supremacists and Black man hating lesbians to outline what they have said or done(be specific) that was either Racist or Anti-American?

Answer NOTHING.

TKCAL

Posted by: Realbrother0003 | September 30, 2008 6:40 PM | Report abuse

.
JRM2, you made me laugh...

re Wright giving Farrakhan the 'Achievement of the year award', you ask me why he did it. I replied:

"In my opinion, he felt Farrakhan deserved the reward for being in line with Wright's own views. Why do you think he did it?"

You replied:
"So you don't really know?.... Opinions are like a**holes, everybody's got one"

Well then I'll put it another way, see if you can wrangle this: Wright gave Farrakhan the award because he wanted to. That's a fact, now what? I suppose you'll ask me why he wanted to?


.

Posted by: Billw3 | September 30, 2008 6:32 PM | Report abuse

Watch Sarah Palin Practice for Her Debate agaisnt Biden. http://www.watchdebate.com

See the Sarah Palin impersonator Joe Biden is using to practice the debate with http://www.theveep.com

Posted by: pastor123 | September 30, 2008 6:31 PM | Report abuse

Let the banks figure out how to raise money. It's not our problem.

Posted by: jw360 | September 30, 2008 6:30 PM | Report abuse

the longer it takes, the better the solution. Dems voting NO are coming up with better plan. Dems should not be seen as supporting Bush's bill; no way!
It's the republicans problem; let them fix it with Dem input; for the people.... translation, believe NO Republican Spin.

Posted by: ukeman | September 30, 2008 6:28 PM | Report abuse

Billw3 said:
"In 1946 me and most others went to a school with no air-conditioning and a 'pot-bellied' stove for heat. This was after we had assembled the greatest military force ever assembled, and won world war one. The point is that individuals were not indulged, yet we did OK."

Pleasechangs replied:
"I would have hoped we come a long way from that by now."

We have. Our standard of living is going down, while those in countries who took our jobs is going up. The trend will continue as long as the indulged people of America are complacent to this fact, and want more money without being willing to compete.

.

Posted by: Billw3 | September 30, 2008 6:23 PM | Report abuse

Real Brother here.

I can't believe the Post has begun censoring posts. Come on guys that's unecessary. If these Idiots can't argue their lame point then they should be allowed to get crushed on the world stage.

Shame on those who led to the Cowardly censorship.

TKCAL

Posted by: Realbrother0003 | September 30, 2008 6:22 PM | Report abuse

Actually the most shocking portion of the speech was the Forgiveness part - coming from Torricelli who was the most RUTHLESS AND UNFORGIVING PERSON TO EVER BE IN CONGRESS.


Torricelli was one of the most self-centered and evil men in politics.


Torricelli is the one who had no credibility on the way out the door - and for Torricelli again to say that David Chang was a liar when NBC News showed the EVIDENCE on television the night before was a complete joke.


Torricelli had many other scandals.


Clearly the Torricelli situation was several different scandals converging on Torricelli at once - he deserved every one of them - plus there were other allegations which people were urging the FBI and Department of Justice to investigate. Believe me Torricelli was a disturbed and sick man who should have never been allowed to hold public office in the first place - you can blame his own democratic party for not getting rid of him earlier in his career when they had several chances to support other candidates.


The pathetic nature of the democratic party led to Torricelli's rise.


In addition, one has to take notice that the democratic party officials CHOSE TO SIT BY AND DO NOTHING FOR YEARS WHEN ALLEGATION AFTER ALLEGATION CONCERNING TORRICELLI TURNED UP. Harry Reid in particular chose to look the other way when allegations came to his office.


CLEARLY THE DEMOCRATIC PARTY IS UNWILLING OR UNABLE TO PLACE FORTH TO THE AMERICAN PEOPLE RESPECTABLE AND SOLID CANDIDATES FOR PUBLIC OFFICE.


The lesson should be: the democratic party should get rid of their officials when it is clear that allegations are true - instead they have no mechanism and they always look the other way - the democratic party is at fault.


.

Posted by: 37thandOStreet | September 30, 2008 6:22 PM | Report abuse

If McCain wins the election by going negative, without making an effective case for his own presidency, then the public deserves the continued economic troubles that another Republican administration would bring.

Posted by: johnc_80 | September 30, 2008 6:21 PM | Report abuse

"In my opinion, he felt Farrakhan deserved the reward for being in line with Wright's own views. Why do you think he did it?"

So you don't really know?, neither do I, that is why I asked you because you brought it up.

"Opinions are like a**holes, everybody's got one"

Posted by: JRM2 | September 30, 2008 6:20 PM | Report abuse

Real Brother here.

Again, while Obama has again come up with a solution, McCain's solution is to steal Obama's plan and lie and say he came up with it.

This is exactly why Obama didn't want to reveal his plan or endorse the Bail Out(which one of his advisors authored)before the debates, he knew McCain would steal it like Bush did Obama's withdrawal plan in Iraq.

And these Idiots keep talking about experience and such, they need to quit.

TKCAL

Posted by: Realbrother0003 | September 30, 2008 6:18 PM | Report abuse


Billw3: You've suggested that, "In 1946 me and most others went to a school with no air-conditioning and a 'pot-bellied' stove for heat. This was after we had assembled the greatest military force ever assembled, and won world war one. The point is that individuals were not indulged, yet we did OK."

---------------------

Sure, as long as you were a white male.

Posted by: wpost4112 | September 30, 2008 6:17 PM | Report abuse

Billw3: You've suggested that, "In 1946 me and most others went to a school with no air-conditioning and a 'pot-bellied' stove for heat. This was after we had assembled the greatest military force ever assembled, and won world war one. The point is that individuals were not indulged, yet we did OK."

I would have hoped we come a long way from that by now. The competition for jobs and choices in life are different. Back then there was manufacturing and other types of jobs people (like my grandfather and others in my family got) without a highschool education. I wish it could be different, but then is not now.

Posted by: PleaseChange | September 30, 2008 6:14 PM | Report abuse

.
JRM2:
"can you tell me why he gave that award to Farrakhan?"

In my opinion, he felt Farrakhan deserved the reward for being in line with Wright's own views. Why do you think he did it?

"we've got pictures of Rumsfeld shaking hands with Sadaam Hussein, the city of Detroit gave Sadaam the keys to the city during the (1982?) super bowl."

Well, Sadam used to be our man. We armed Iraq for their war against Iran. I feel we would have been better off 6 or so years ago to have felt Hussein out, and maybe had a tool against Iraq today, not to mention our loss in lives and money in Iraq.

.

Posted by: Billw3 | September 30, 2008 6:11 PM | Report abuse

TKCAL: I agree, but the problem for Obama this time is not beating another Dem. He's got to get Indies and Repubs who are both practical in their choice and sick over the last eight years. I hope he can overcome this terrifying hurdle

Posted by: PleaseChange | September 30, 2008 6:11 PM | Report abuse

"Yep. Socialism is at the heart of the Lib Dem Socialist platform.

Posted by: ChangeWhat | September 30, 2008 6:02 PM"
-----
Last time I checked this was a republican president bill. As you might notice, things aren't going so well. What do you propose as an alternative?

Maybe we should let the financial system collapse and let everybody lose their life savings, 401ks and college savings and their jobs and we can live under martial law since everybody will be scavenging for food under a republican fascist police state.

See, my accusations are about as valid as yours.

Posted by: JRM2 | September 30, 2008 6:08 PM | Report abuse

oho!

Ohio is now for Obama by TWO!

Zouk must have had a little hershey-squirt on that one.

Virginia for Obama by 6.

Guess MCSame just ain't doin it....nor is Paleface.

OHIO....by TWO!

GObama!

Posted by: wpost4112 | September 30, 2008 6:07 PM | Report abuse

HOW DID WE GET IN THIS MESS??

Democrats forced Fannie Mae, Freddie Mac and Banks to issue a quota of sub-prime mortgages or pay big penalties. They made mortgages affordable by using schemes like:
"100 percent financing . . ."
"No down payment . . ."
"Interest only loans . . ."
"No income . . .
"No job . . ."
"No assets . . ."
"No credit scores . . ."
"Low credit scores . . ."
"No SSN required . . ."
"ITIN identification accepted . . ."
"Undocumented income . . . even if you don't report it on your tax returns . . ."

WHAT CAUSED OUR ECONOMIC CRISIS??

http://www.youtube.com/watch?v=fiXwZI_YqHY

Now watch democrat Barney Frank, chairman of the House Financial Services Committee, and his gang of democrat misfits argue with republicans that more regulation of Fannie Mae and Freddie Mac is not necessary because they don't have a problem:

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Posted by: eureka60 | September 30, 2008 6:03 PM | Report abuse

Obama should leave the race and allow Biden to be the Presidential Candidate.


.

Posted by: 37thandOStreet | September 30, 2008 6:03 PM | Report abuse

Isn't it disgusting how the typically pitiful government dependent needy slugs in this country with the Socialist party buying their votes with taxpayer money are destroying this country?

What is about the Lib Dem Socialist party that wants America dependent on their fat butts big spending corruptive policy?

Why is that? Well, ask LBJ. As he once said .... "my Great Society will have minorities voting for the Dem. party for ever."

Yep. Socialism is at the heart of the Lib Dem Socialist platform.

And those that support the Marxist are ignorantly blind to the fact.

Posted by: ChangeWhat | September 30, 2008 6:02 PM | Report abuse

.
AgnosticEngineer"
"Provide token gestures of a better education (that don't cover a fraction of the actual costs) to those trapped in substandard schools."

In 1946 me and most others went to a school with no air-conditioning and a 'pot-bellied' stove for heat. This was after we had assembled the greatest military force ever assembled, and won world war one. The point is that individuals were not indulged, yet we did OK.

You also said:
"Raise real incomes to a level that people could afford such things and they might be willing to listen to you... "

That has already been done until we priced ourselves pretty much out of the world labor market. Look at Chrysler, Ford, GM, Electronics manufacturing, cameras, watches, etc. Even my breakfast cereal is made in Canada, and my shoes in China. Your philosophy on this is wrongheaded.

.

Posted by: Billw3 | September 30, 2008 6:02 PM | Report abuse

Fred29: step away from the crazy talk dude.

Posted by: PleaseChange | September 30, 2008 6:01 PM | Report abuse

Real Brother here.

Even though I'm an Obama supporter,I still think its weak of Republican stratagists to suggest that McCain go ugly and attack Obama's character and bring up Rev. Wright and the same nonsense that failed when Hillary and the Black Man Hating Lesbians who supported her tried it.

I think its becoming more and more obvious that the Republican leadership wanted to throw this election so that they could bring back someone they actually want in 2008 or 2016.

McCain being the Idiot he is thinks he can defy even his party and win the election and this is why his advisors are giving him such bad and STUPID advice(hey, why not pick Sarah Palin for VP?)

I think Obama would have been able to spank McCain without the help of the Racists and White Supremacists and Black man hating lesbians who are steering him wrong.

TKCAL


Posted by: Realbrother0003 | September 30, 2008 5:59 PM | Report abuse

"JRM2 said re Wright:
"Personally I think his views have some validity"

How about Wright awarding Farrakhan "Achievement of the year award"?
.
Posted by: Billw3 | September 30, 2008 5:48 PM |"
------
I would be inclined to disagree with his decision on that matter, can you tell me why he gave that award to Farrakhan?

Remember, just because a person does something that you disagree with doesn't mean all their positions are bad. heck, we've got pictures of Rumsfeld shaking hands with Sadaam Hussein, the city of Detroit gave Sadaam the keys to the city during the (1982?) super bowl.

Posted by: JRM2 | September 30, 2008 5:57 PM | Report abuse

MarcoVincenzo: It's hard to know what affect this will have on American taxpayers, but are you willing to let us all go down with a sinking ship. I think we are more tied in that we'd like at this point. Do you believe that if we let the idiots who are responsible for this mess sink that you'll still be able to get a paycheck, pay you bills, use credit (if you have any)...the list goes on. I don't own a house, stock and I didn't particpate in creating the mess, so I'm not sure what the answer is. Do we fork up the few thousand dollars each instead of the possibility of loosing it all?

Posted by: PleaseChange | September 30, 2008 5:56 PM | Report abuse

I forgot to mention to those Republican out there..this "engineer" is a typical reason the government is failing. He believes that throwing money at people is what solves things. He wants gov. to decide what doctor you can go --as bad as a HMO. Let me ask you engineer, what government program is it you like to praise and praise often?

Posted by: Fred29 | September 30, 2008 5:55 PM | Report abuse

How sick to blame Jewish Banks! I thought America is the land for all, but never realized that includes bigots! Here, in the rainbow nation (South Africa) we are not so stupid as to fall in the trap of trying to pull others down. Works better in the long run! And when the going gets touch, it's not smart to start blaming every leader. This crises is the result of poor management, not of clear leadership. That's what ought to change, exit lawyers and managers who earn fortunes and do not risk a personal penny. Make room for leaders, who share the ups AND the downs.

Posted by: TomLoboMeyer | September 30, 2008 5:52 PM | Report abuse

Oh, please, I was out of work for 3 years and started a small business and then sold it. My startup was the savings I put aside because I am not you making all kinds of excuses why people can not save. You are just a whiner--it is obvious!

Posted by: Fred29 | September 30, 2008 5:52 PM | Report abuse

What absurdity and utter nonsense! If you can't show leadership how can you expect the voters to elect you. What McCain did going to the Washington and stop a flawed bailout from becoming a Bill adds credit to his leadership. Please give me a break,
Rock star Obama just stand and carry on his beloved debate and play 'pretty'

Posted by: somers91 | September 30, 2008 5:50 PM | Report abuse

"engineer" Just because you have not heard it I will quote a dum local, liberal writer here who on a television panal said...."Well, pontius Pilot was a Governor and Jesus was a community organizer."

ANd I don't have time for more but since you solicited the response you got one. So, nothing made up real fact. You always can despute the fact saying "I never saw that" but you miss the point that it happened and that is all that matters.

Posted by: Fred29 | September 30, 2008 5:50 PM | Report abuse

"who opposes things such as health savings accounts and school choice as he says they are like "social Darwinism.""


What brilliant ideas!!! Promote individuals finding their own way to pay for ever increasing healthcare costs. Provide token gestures of a better education (that don't cover a fraction of the actual costs) to those trapped in substandard schools.

Most people are struggling to live comfortably. Our national savings rates are at record low levels. Still, you think the greatest idea is for people to pay for more services themselves????

Raise real incomes to a level that people could afford such things and they might be willing to listen to you...

Posted by: AgnosticEngineer | September 30, 2008 5:49 PM | Report abuse

.
JRM2 said re Wright:
"Personally I think his views have some validity"

How about Wright awarding Farrakhan "Achievement of the year award"?


.

Posted by: Billw3 | September 30, 2008 5:48 PM | Report abuse

Nader's suggestion in the article mentioned above. "We must revive and apply antitrust principles, so that banking consumers can benefit from competition and taxpayers are less vulnerable to too-big-to-fail institutions, merging with each other to further concentration."

Now, this is something that makes sense to me and would to a lot of Americans. I know he is running for President, but he's not going to win. One can only hope that our future leader will give him a role in helping our Country get our footing back. He's too smart to continue standing on the sidelines. His active participation in Government might also open up a greater possibility for credibility in the idea of third party candidates.

Posted by: PleaseChange | September 30, 2008 5:42 PM | Report abuse

"You are not in the party that makes references to Obama and Jesus in the same sentence."


Actually, I've only heard such references FROM Republicans. Pathetic accusations of blasphemy. Remember, YOU are the ones that are making the association. YOU are the ones dragging Jesus into the ring.

Unfortunately, Jesus promoted caring for your fellow man. He commanded us to take care of the sick and poor. Perhaps you skimmed over that part...

Posted by: AgnosticEngineer | September 30, 2008 5:41 PM | Report abuse

"This is ignored by his base support of blacks, die-hard democrats, and young who think he is hip and cool."


You're right, blacks have no right to complain about past oppression. Neither do women, Native Americans, or Jews (to name but a few).

History provides us the opportunity to learn from our mistakes. Stupidity condemns us to repeat them...

Posted by: AgnosticEngineer | September 30, 2008 5:36 PM | Report abuse

So, lets continue with the truth for you Republicans out there who support the constitution:

When you hear "bigot" and "fear monger" and you feel like the attack is on you--this is a tactic. You know you are not with the party that supports the killing of babies that considers a baby a "burden."
You are not in the party that makes references to Obama and Jesus in the same sentence. You are not in the party that supports a candidate that said "typical white person" or stupid things like "I grew up around a healthy skepticism for organized religion and as a result so do I [have a healthy skepticism toward organized religion]" or who opposes things such as health savings accounts and school choice as he says they are like "social Darwinism." All in favor of a government that will take care of everything for you.

Posted by: Fred29 | September 30, 2008 5:34 PM | Report abuse

McCain should stop campaigning until the bailout saving his banker supporters gets resolved, like he said he would last week. Only this time , he should really STOP campaigning since he never really did stop last week. He really is disgusting, and the polls show it. The old man is going down. Vote For Change.

Posted by: darby124 | September 30, 2008 5:31 PM | Report abuse

If anyone over the age of 35 hasn't quite noticed yet, the Republican Party is not now what we'd learned or expected when we first had to choose a party in order to be able to vote in primaries and elections...

Wanna talk elitists and legacies? That's what we've ended up with. How did we let that happen to us? Some kind of complacency? Well, you know everything you thought about the Republican Party is over now. They're no longer out for you.

Posted by: jmod35 | September 30, 2008 5:30 PM | Report abuse

the candidates might be well-advised to let this be worked out on the hill and begin looking ahead at what follows the bailout. as www.straightrecord.com has been writing about, there is a flurry of major lawsuits that will follow the bailout, or meltdown II, and then the inflation/recession to deal with, all the money foreign nations have been pumping into the u.s. economy will have to be repaid, countries with huge investments in the u.s. will end up owning much more, and the japanese are set to come back after their implosion of 15 years ago to make major business acquisitions and buy up u.s. property. if i were obama, i'd never mention mccain's name except in connection with bush and i would point out it was gop deregulation or "aregulation" that got us into this mess. the word of the future is "regulation." if business fails to act responsibly, make it do so, as you would a child.

Posted by: rapswork | September 30, 2008 5:30 PM | Report abuse

Skeptic21

YesWeCanforFree wrote:
"I would rather send out $700 billion dollars to tax payers rather than bailing out Jewish banks and hoping it will some how trickle down to the main street..."
****************************************

SHUT UP!

----------


You want middle america to shut up and blind folded so that you can steal $700 billion from the tax payers.

Why do not you say so?

Posted by: YesWeCanForFREE | September 30, 2008 5:29 PM | Report abuse

"And, once again, the best advice the Republicans can muster is to "go negative."

Sums up the Party's entire record over the past 10-15 years.

At the end of the day, it is all they have."


Sadly it works. For some inexplicable reason, in America ignorance is considered a virtue...

Posted by: AgnosticEngineer | September 30, 2008 5:29 PM | Report abuse

Here is another idea. The banks have no money right? Instead of taxpayers giving them a handout, let's setup an interest earning savings account with the banks that pays 25% interest to investors. Kind of like those high risk credit cards they like to give out. Then the people make up their losses on the housing crisis and the banks have some money to use.

Posted by: jw360 | September 30, 2008 5:25 PM | Report abuse

"And listening to Wright and his racist rants as well as his ANTI America spews of hate for 20 YEARS should have made him ineligable for office to the "American" people."
-----
Part of what makes America a great nation is that people are free to express their minds freely without fear of criminal penalty.

So I can only guess that you're against the First Amendment in the Constitution?

My how un-american

Figures, you are from Texas.

and BTW: Rev. Wright served honorably in the Marine Corps. and was such a talented and trusted medic that he was chosen to treat President Lyndon Johnson.

and, it's not like he was in that church everyday spewing his ideology, what you saw were from a few isolated sermons. Rev. Wright has also done a lot of good for people who are less fortunate than he or you. Personally I think his views have some validity, but he greatly exaggerates them for the sake of theatrics.

I'll take Rev. Wright any day over Palin's "Witch Hunter" and McCain's bigot and fear monger Hagee.

Posted by: JRM2 | September 30, 2008 5:24 PM | Report abuse

OKAY, it really is just a nationalization of the system not a "bail out" The question is what do you want done with the money which comes out of a sell off in the future.

See the Democratic party has plans for every dime. Take Obama for instance as the epitomy of type 'A'- one Democrats. While teaching he planned on a life of public service. While working with organized religion in Chicago and organizing before he even got his law degree he planned on a life of public service.

So exactly what is "public service" as defined by an Obama type? It is where the government steps in and uses its wealth and influence to change things for the better--especially in the context of helping a particular segment of the population. So for an Obama type that 2.1 trillion in assets is already spent.

Vote Obama and you get big Government. If that is what you want then Yes, Obama is your man.

Posted by: Fred29 | September 30, 2008 5:23 PM | Report abuse

And, once again, the best advice the Republicans can muster is to "go negative."

Sums up the Party's entire record over the past 10-15 years.

At the end of the day, it is all they have.

Posted by: gthstonesman | September 30, 2008 5:17 PM | Report abuse

No matter how much you might dislike Obama, their is no getting around the fact that McCain is more of the same old past that has created this mess. Doing more of the same hoping for a different outcome is as inspiring as a flat tire on a rainy day.

Soon the grumpy old man who can't remember how many houses he owns and his homecoming queen VP pick will be a fading memory and the rest of us can get on with the job of cleaning up this mess created by dubbia.


Posted by: deano1 | September 30, 2008 5:16 PM | Report abuse

Hey Texan2007:
Call Palin's pastor and get rid of all the witches in the democratic party.

By the way: you need to go back to community college and take English 101 so you can learn how to properly construct a sentence.

Posted by: mikedooley | September 30, 2008 5:15 PM | Report abuse

McCain should challenge him to a blinking contest

Posted by: nmoses | September 30, 2008 5:12 PM | Report abuse

.

Texan2007 said re Obama:
"Listening to Wright and his racist rants as well as his ANTI America spews of hate for 20 YEARS should have made him ineligable for office to the "American" people."

This is ignored by his base support of blacks, die-hard democrats, and young who think he is hip and cool.

.


Posted by: Billw3 | September 30, 2008 5:11 PM | Report abuse

YesWeCanforFree wrote:
"I would rather send out $700 billion dollars to tax payers rather than bailing out Jewish banks and hoping it will some how trickle down to the main street..."
****************************************

SHUT UP!

Posted by: Skeptic21 | September 30, 2008 5:11 PM | Report abuse

OldAtlantic:

You sound a lot like Neal Cavuto "lending to minorities is dangerous!" That's a big load of racist BS. I know plenty of immigrants who bought houses over the past 5 years, and still pay their mortgages on time, despite the fact that they owe more than their houses are currently worth. Immigration has NOTHING to do with the sub-prime meltdown. People overextending themselves combined with predatory lending practices and no oversight led to this mess. Non-immigrants were just as guilty as immigrants.

If you don't want foreigners here, just say that, don't make excuses to say it.

Posted by: CaliforniaMonkey | September 30, 2008 5:11 PM | Report abuse

Here's the thing. I trust Robert Rubin and Paul Volker to get us out of this situation. If it means voting for Obama to get these guys back and involved, so be it. Count me in.

Posted by: USBlues747 | September 30, 2008 5:10 PM | Report abuse

Agnostic engineer:
It's spelled supporters.
Just another brilliant mind weighing in.

Posted by: mikedooley | September 30, 2008 5:05 PM | Report abuse

There are _450_ billionaires in the United States.

Posted by: Whys | September 30, 2008 5:05 PM | Report abuse

I remember when my wife and I first separated, she ran up a huge overdraft at the bank which took me awhile to pay resulting in the bank canceling my account. Finally on my own with my kids I went to get a checking account, bank after bank viewed me as not being a safe enough risk because of this overdraft that I had paid.

I never dreamed that seven years later my bank would be viewed as not a safe enough risk to operate and be seized by regulators

WAMU

Posted by: JRM2 | September 30, 2008 5:04 PM | Report abuse

It's funny how McCain is following Obama's lead. I guess it's better than following dubbya's.

Posted by: humanbeng | September 30, 2008 5:04 PM | Report abuse

Wow jewesl2, you are an idiot!
Where do you get your information from?

Posted by: jbergstrom | September 30, 2008 5:04 PM | Report abuse

Hey jewels2:
If McBush was sounding the alarm in 2005 why didn't the Republican controlled congress and executive branches spring into action?
Oh that's right. They were on Duke Cunningham's yacht partying.

Posted by: mikedooley | September 30, 2008 5:04 PM | Report abuse

"Have any of your brillant minds, you Obama supportors, realized he hasn't done one damn thing to help in this crisis besides his usual empty words that are fed to him by his 300 advisors."


No one man can know everything. An intelligent man knows his own shortcomings. He seeks advice from those whose knowledge exceeds his own...

Posted by: AgnosticEngineer | September 30, 2008 5:03 PM | Report abuse

Immigration brought many of the subprime borrowers here. So both should say time out on immigration, meaning under 25000 per year.

McCain should say he had a secret plan to disrupt the bailout and it worked. He should meet with House Republicans and agree no amnesty on immigration or Wall St, and no more legal immigration. Also cap pay at financial service firms and public companies at 400000 until crisis is over. They pushed immigration which caused the problem so they should pay with a reasonable ratio of pay as existed during the last immigration pause.

Posted by: OldAtlantic | September 30, 2008 5:03 PM | Report abuse

Homeowners are going to continue to lose home values, whether or not this plan passes. Banks are going to tighten up the lending practives regardless. Do you think they are going to keep making the same mistakes over and over again? When they go back to the traditional ways of lending money, not many people are going to be able to get home loans until home prices come way down. They way it will work is your going to need 34% of your monthly income to cover all of your expenses. Credit cards, car loans, everything including the home loan. Not many can do that, so home prices will fall. Their needs to be a guarantee of loans being written down because of this.

Posted by: jw360 | September 30, 2008 5:02 PM | Report abuse

"I have a nice 26MPG car sitting at the park and ride though... it'll even be paid off in 6 years..."

Mustang???

Posted by: AgnosticEngineer | September 30, 2008 4:59 PM | Report abuse

jewesl2 said
" Bush and all the Repubs have been warning of this happening because of Freddie and Fannie. "

and would you please tell us specfically what your beloved Republicans did durng that time period, other than calling for more and more deregulations (note page 20 of the R Platform that states precisely that). What a joke. The R dereglation crowd was trying to prevent the mtg and credit meltdown exactly like Hoover tried to stop the run on the banks. Good luck with your 401 K.

Posted by: leichtman | September 30, 2008 4:58 PM | Report abuse

McBush:
Please don't boot Lipstick off the ticket;
She's a laugh riot!

Posted by: mikedooley | September 30, 2008 4:57 PM | Report abuse

jewesl2 said
" Bush and all the Repubs have been warning of this happening because of Freddie and Fannie. "

and would you please tell us spefically what your beloed Republicans did durng that time period, other than calling for more and more deregulations (note page 20 of the R Platform that states precisely that). What a joke, the R dereglation crowd was trying to prevn thhis. ust lie Hebert Hoover tied to stop the run n h banks.

Posted by: leichtman | September 30, 2008 4:53 PM | Report abuse

They should propose to give no bailout to banks unless a guarantee that banks will work with homeowners who have lost money in their homes as a result of this crisis. All home loans are written down to the amount that was lost in value during this crisis and all ARMS are converted to fixed 30 year loans, even at interest only in order to make payments affordable. Homes should continue to be written down until the market reaches its bottom. That’s the compromise I think most Americans want to be written in to this plan.

Posted by: jw360 | September 30, 2008 4:53 PM | Report abuse

I like Ralph Nader's bailout plan.
(An Independent 2008 presidential candidate)
http://www.counterpunch.org/nader09252008.html

I am SICK of the big media saying we only have two choices for president. Look outside the box America! We have choices...not just the choices that the big corporations want you to know and according to THEIR agenda.

Posted by: techlady1 | September 30, 2008 4:53 PM | Report abuse

CBS people have said it get worse. Hard to believe.

-----------
Watch Couric tonight.
Poor Palin.
Just out of her league.
Posted by: wpost4112 | September 30, 2008 4:31 PM | Report abuse

Posted by: popasmoke | September 30, 2008 4:47 PM | Report abuse

Have any of your brillant minds, you Obama supportors, realized he hasn't done one damn thing to help in this crisis besides his usual empty words that are fed to him by his 300 advisors. In every situation that has come up he doesn't have a clue until someone fills him in on what to say. This complete phony and his party have caused all this mess.From 2001, Bush and all the Repubs.have been warning of this happening because of Freddie and Fannie. And every step of the way they have been stopped by the Democrats who insisted that F & F and just fine and didn't need any stricter regulations or investagations. John Mccain also warned the Congress in 2005 and 2006 of the corruption in F & F and again the Dems refused to do anything except to continue their cover-up for F & F. Along with the help of Accorn, another partner in corruption that pushed and strong armed banks into loaning money for homes to people who had no way of paying it back, thats why we are in this mess. All these institutions are linked to F & F with is completly in bed with the Dems. That disgusting Nancy Pelosi, Mr. Dodd, Mr. Barney Franks, Barrack Obama, who also received lots of money from Fannie & Freddie.knew about all this happening for years and did NOTHING. Now they are afraid the truth is coming out so they are trying to push any bill through so no investagation of them will happen. Did anyone notice that the Democrats aren't even trying to get the best and smartest bill they can? They don't care if we the American people get screwed as long as Nancy and her party of jack-asses can add BILLIONS of pork to the bill for her left wing orgs. Most of America would never support or give consent for their hard earned tax dollars to go to these horrible orgs.Who does this witch think she is? And Obama is right in the thick of it with her, he is her puppet.Obama's economic plan will spiral this country down even further than where it is now. Yah, lets tax, tax and tax more, that will fix things. He doesn't have a clue as to how be a leader of anything, let alone President. He offers no change and no hope. He is part of the problem and in no way will reform this sick government which is what all Americans want.

Posted by: jewels2 | September 30, 2008 4:46 PM | Report abuse

David Brooks gets it right:

And let us recognize above all the 228 who voted no — the authors of this revolt of the nihilists. They showed the world how much they detest their own leaders and the collected expertise of the Treasury and Fed. They did the momentarily popular thing, and if the country slides into a deep recession, they will have the time and leisure to watch public opinion shift against them.

House Republicans led the way and will get most of the blame. It has been interesting to watch them on their single-minded mission to destroy the Republican Party. Not long ago, they led an anti-immigration crusade that drove away Hispanic support. Then, too, they listened to the loudest and angriest voices in their party, oblivious to the complicated anxieties that lurk in most American minds.

Now they have once again confused talk radio with reality. If this economy slides, they will go down in history as the Smoot-Hawleys of the 21st century. With this vote, they’ve taken responsibility for this economy, and they will be held accountable. The short-term blows will fall on John McCain, the long-term stress on the existence of the G.O.P. as we know it.

Posted by: wpost4112 | September 30, 2008 4:43 PM | Report abuse

re CoreyB2: "...the bill should include stoppage of political contributions from all banking and financial institutions." Great point. But why only financial institutions, let's stop political contributions from all institutions while keeping the personal contributions to $2,300.

Posted by: papaedde | September 30, 2008 4:39 PM | Report abuse

What a simple question! Either/both of them has a chance to step forward and srtand up for Main Street. Let's see what they do. "Free trade" was supposed to result in offshoring cheap, low paying jobs. We would keep the high paying jobs, the technology and expertise to create more, even better paying jobs. Precisely the opposite has happened... resulting in the collapse of our economy. End "free trade", end (immediately!) the H1-B and L-1 visas, enact taxes and duties and tariffs produced as a result of outsourcing. No corporate bailouts, no Wall Street bailout, for any company that outsources jobs or hires foreign workers before American workers. End any and all tax deductions or writeoffs for investors in companies that result in a net loss of income or jobs for American workers. You ight even consider a opunative tax on those investors. Make 'em bleed if they don't represent the best interests fo this country! Make these conditions for any bailout. I know, we are being told that Wall Street's meltdown will harm us, too. How? By wrecking a retirement safvings account that was long ago looted by a former employer? By making credit difficult to obtain when we cannot even afford basic medical care, do with food, already? Look, it cannot get much worse for us, living from paycheck to paycheck. Now is the time to reign in investors, corporations, and banks. Either they put us first, or they can go out of business. We're past caring about these treasonous Benedict Arnold's. Either they stand with us or they stand against us. If they choose the latter, remove any benefit, including patrnt and trademark protections, in this country and PUT THEM OUT OF BUSINESS.

Posted by: mibrooks27 | September 30, 2008 4:39 PM | Report abuse

McCain: Do As I Say, Not As I Do?


McCain's hypocrisy has reached a level that when he says anything about any subject, your automatic reaction should be to go back and see what he was saying the day before. And when it comes to blaming others for his failure of leadership on the bailout bill, McCain has raised the ability to talk out of both sides of his mouth to an art form.

http://thinkprogress.org/2008/09/29/bailout-mccain/
.

Yesterday McCain managed, in the time it took to get the words out, to blame Barack Obama and the Democratic Party while saying it wasn't time to point fingers:

"Senator Obama and his allies in Congress infused unnecessary partisanship into the process. Now is not the time to affix the blame. It’s time to fix the problem."

http://www.huffingtonpost.com/2008/09/29/mccains-mixed-messages_n_130376.html?page=7
.

And today, McCain said:

"I am disappointed at the lack of resolve and bipartisan good will among members of both parties to fix this problem...I call on everyone in Washington to come together in a bipartisan way to address this crisis."

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/27/AR2008092702826_2.html?hpid=topnews&sid=ST2008092702850&s_pos=
.


...and sixteen minutes later, McCain's campaign released an ad that blamed Obama and the Democrats for the financial meltdown. Sixteen minutes. Apparently McCain was calling on everyone except himself.
.

Posted by: DrainYou | September 30, 2008 4:33 PM | Report abuse

Watch Couric tonight.
Poor Palin.
Just out of her league.

Posted by: wpost4112 | September 30, 2008 4:31 PM | Report abuse

What is next?
Hopefully, America will wake up and vote NO on November 4th to this God complex ego maniac with absolutely NO experience. Just because he has Democrat beside his name does not mean he is qualified.He was given this nomination.
And listening to Wright and his racist rants as well as his ANTI America spews of hate for 20 YEARS should have made him ineligable for office to the "American" people. He only cares about him. and his Black Liberation Theology. This is not Unity and this is NOT experience we need in the White House!

America, Please vote NO to Obama!

Posted by: Texan2007 | September 30, 2008 4:28 PM | Report abuse

Said former Bush speechwriter David Frum: "I think she has pretty thoroughly -- and probably irretrievably -- proven that she is not up to the job of being president of the United States."


"And yet -- get the siren ready for this one: "Of concern to McCain's campaign, however, is a remaining and still-undisclosed clip from Palin's interview with Couric last week that has the political world buzzing," Martin reports.

"The Palin aide, after first noting how 'infuriating' it was for CBS to purportedly leak word about the gaffe, revealed that it came in response to a question about Supreme Court decisions," he writes. "After noting Roe vs. Wade, Palin was apparently unable to discuss any major court cases."

Yo would think that even conservatives would be aware of:

1.Hamdi v Rumsfield-Guantanamo Bay case and
2.Kelso v New London on eminent domain a subject that is universally despised by
conservatives.

Is Frum part of that left wing media's gotcha crowd that Palin and McCain' supporters are referring to?

If she is unacceptable to David Frum, how is she any different then Harriet Miers to the extreme right wing? Apparently the Mantra Putting County First means one thing and one thing only, overturing Roe v Wade. In this time of a Hoover like economic meltdown, abortion and Roe are the only topics that the next VP and this country should possibly know or care about; at least according to the Palin/MCain/Hoover ticket.

Posted by: leichtman | September 30, 2008 4:27 PM | Report abuse

I, for one, would like to see more civilty in this blog. People who refer to others as "idiots" are obviously telling us a lot about themselves.

Obama is no whiner. McCain is the one who is having to adjust his position on a daily basis just to keep up with his ability to fire, get ready, and aim. To listen to all of the Republican spinners who have to figure out on the run to try to keep pulling McCain's irons out of the fire is pathetic. The logic is not even basic. It is so convoluted that most average voters have to feel cheated out of a real campaign between competing ideas. Obama has great ideas and is able to communicate them. The harder the Repubs spin, the more that I know that Obama is making his case.

McCain's campaign is nothing more than yellow journalism.

Posted by: EarlC | September 30, 2008 4:26 PM | Report abuse

"This is interesting. I've never actually watched a house of cards collapse before."
Posted by: moksha-4all


Ha! Wait till you the end of the world!

Posted by: VMR1 | September 30, 2008 4:24 PM | Report abuse

AgnosticEngineer wrote:

"(Have I made my way onto the no-fly list yet?)"


You can afford to fly somewhere???

----

No, but my old employer used to fly me all over the place. I can't even afford to drive to work... I take the commuter bus for < $120/mo because gas would be over $300/mo for me. I have a nice 26MPG car sitting at the park and ride though... it'll even be paid off in 6 years...

Posted by: CaliforniaMonkey | September 30, 2008 4:22 PM | Report abuse

.

"I think McCain should rent a tug boat, sail back to Vietnam & surrender again."

Bet you beat up on the cat too.

.


Posted by: Billw3 | September 30, 2008 4:21 PM | Report abuse

.
. . AN ARGUMENT FOR NO BAILOUT . .

The markets are *much* improved today and the dollar has broken the record in gain against the euro. I believe people here and around the world have seen the U.S. citizens speak up and actually have a positive effect on the governments wastful spendthrift policies. This indicates that a bailout is not needed. The markets and homes need to adjust to their actual values, and wall street and bank managers deserve no rewards for their greed.

.

.

Posted by: Billw3 | September 30, 2008 4:17 PM | Report abuse

Obama has been doing just fine.

McCain has been spinning himself into the ground. His is one of the most dishonest campaigns in recent memeory.

Palin has an ego problem. She is also snide. A little humility from a person with her lack of communication skills would help. All I see is a trained beauty pageant contestant.

Posted by: EarlC | September 30, 2008 4:16 PM | Report abuse

I like the idea of Obama supporting the stimulus package as part of the deal. That gives him something positive to talk about, in addition to raising the FDIC threshold to $250,000 (popular with small biz), while the House R's and McCain try to get their vote count up to snuff to pass the "rescue" package.

Posted by: johnsonc2 | September 30, 2008 4:13 PM | Report abuse

This is interesting. I've never actually watched a house of cards collapse before.

Posted by: moksha-4all | September 30, 2008 4:12 PM | Report abuse

indytucker said:

"We privatize profits and socialize losses. This is a painful lesson showing the limits of the free market!!"


See, if you had a decent public school system in the US you would've known that Karl Marx said the very same thing more than 130 years ago. Why do you think they don't teach you alternative viewpoints in American schools, esp. the ones questioning capitalist orthodoxy?

Do you still think the terms "capitalism" and "democracy" are virtually interchangeable, as they teach you in high school and college?


Posted by: VMR1 | September 30, 2008 4:10 PM | Report abuse

"As for McCain & Obama, at present i'm debating which idiot is less stupid than the other"

Well lets look up their college grades, and maybe some test scores, and see.

Posted by: Independent4tw | September 30, 2008 4:09 PM | Report abuse

"McCain's maverickosity is the only thing that can get us through this crisis. If Obama spent less time whining, and more time mavericking then maybe something would get done."

Actually, the "maverick" label is appropriate for McCain. The REAL "original Maverick" was a Texas rancher named Maverick who refused to brand his cattle, then claimed ownership of all unbranded cattle on the range.

Posted by: thrh | September 30, 2008 4:07 PM | Report abuse

The market today is indicates that a bailout is unnecessary. The market's gains and losses are only readjustments. What else is new? The bailout is just another request by the Bush administration for money that has no foundation in reality. It's another scare tactic to get the middle class to agree to spend their tax dollars on programs that will support the rich through unnecessary wars (which we were told would protect us from weapons of mass destruction) and/or unnecessary bailouts. There is no need to panic and there is no need to give taxpayer dollars to the market. The market is fine. The bailout is another scam to take advantage of middle class fear in order to insure that the wealthy risk takers won't have to pay for the losses they have been taking while reaping extraordinary gains.

Posted by: cbforce1 | September 30, 2008 4:05 PM | Report abuse

This article asks what McCain & Obama should do ?
I think we need a 3rd choice for President .... Hillary Clinton & Mitt Romney ... they'd unite the political parties, both are intelligent, both have mixed ideas, but both have common ground on how America should be run. Most of all, they wouldn't be as bad as the 2 jokers who are running now !!! As for McCain & Obama, at present i'm debating which idiot is less stupid than the other

Posted by: gatorsn09 | September 30, 2008 4:02 PM | Report abuse

"(Have I made my way onto the no-fly list yet?)"


You can afford to fly somewhere???

Posted by: AgnosticEngineer | September 30, 2008 4:01 PM | Report abuse

"Nancy Pelosi's dumb speech was certainly unproductive, but that does not mean Republicans should vote no just because their feelings were hurt, they were clearly reacting in a partisan manner too."

From what I read, Pelosi attacked Bush's policies, not the Republican party as a whole. It's actually quite brilliant. Once Pelosi said that, if the Republicans support the bill, that implies that they agree that Bush's policies have been bad. Since the Republicans supported Bush's policies from 2001 to 2007, against their own instincts, they would essentially be admitting they were wrong. They want the Democrats to look like the bad guys, not the Bush/Republican administration.

Honestly, I don't think the Democrats want this bill to pass. I think they want to appear like they want this bill to pass, so that if the economy does get a lot worse they can say "we tried, but the Republicans blocked us." If the bail-out doesn't pass and the economy survives, the Democrats look bad in the short term but will look good in the long term.

The Republicans want to have their cake (not have people lose millions in the stock market, businesses collapse) and eat it too (blame the Democrats for spending taxpayer money to prevent the former).

Posted by: paulflorez | September 30, 2008 3:59 PM | Report abuse

I just watched McCain & Nurse Palin on CNN .... he was telling the press how Palin was mis-quoted .... he wouldn't let her talk, he did all the talking for her, he answered all the questions directed at her. I think McCain should rent a tug boat, sail back to Vietnam & surrender again. He isn't good for America

Posted by: gatorsn09 | September 30, 2008 3:56 PM | Report abuse

"McCain's maverickosity is the only thing that can get us through this crisis. If Obama spent less time whining, and more time mavericking then maybe something would get done."

Is this a joke? Being a maverick means going off on your own. It is like being partisan to everyone elses ideals. A maverick will disagree with everything anyone else likes.

McCain voted 90% of the time with Bush. That is no maverick. Unless you want to switch the meaning of maverick to "someone who says one thing but really does the opposite." I think that already defines hypocrit.

Posted by: Independent4tw | September 30, 2008 3:55 PM | Report abuse

"The congress has successfully rewritten lots of legislation to where it fails to resemble the original in any way many times before. So, now if they can just find some way to get the money to pay down my huge mortgage that the crooks talked me into........That would really be stimulating!"


You are as much to blame as the banks. If you were resposible, you wouldn't have accepted a loan that your salary would barely cover.

The problem is that no matter how you slice it, it SUCKS. Many of our representatives are refusing to put their name on a bill that could be THE most hated piece of legislature EVER. Unfortunately, without our financial market (and therefore economy) might collapse...

Posted by: AgnosticEngineer | September 30, 2008 3:53 PM | Report abuse

For financial market recovery, here are two bedrock principles that should be adhered to:
1) Those responsible for incurring the debt should be responsible for paying it back.
2) There cannot be a healthy Wall Street or financial sector as long as Main Street is unhealthy.

Over the years, in pursuit of profits and government incentives, the financial sector has disinvested in America and it people. They have moved their money offshore in order to maximize their profits without regard to the impact of these decisions on Main Street. Now the proverbial “chickens are coming home to roost”. Main Street has become weaker, and has been forced to incur substantial debt simply to maintain a decent standard of living, much less save for the future. Outright fraud by individuals, lending institutions, increased unemployment and massive government deficits have all contributed to a decline in the value of the dollar and in the value of mortgages being held as collateral. As the value of this collateral withered investors around the globe have, or are loosing confidence in the US economy.
I think that the government should make available loans, possibly around $350B, relieving intuitions of their troubled [real] mortgagees and those already in default, holding them as collateral. It should be noted that if housing values continue to decline the problem only gets worse, regardless of how much money is given Wall Street.
A crash investment program in energy efficiency, infrastructure improvement, education and training should be implemented. Financial intuitions should be further encouraged to invest in these programs as conditions for government assistance. These programs should be designed to reduce dependency on imported oil, and to make the country a more efficiently manufacturer of real products (not financial instruments), and to prepare a competitive workforce for the future. Investments in training are especially critical in order to develop the skill necessary for the country to continue to move forward as the rapidly ageing baby boomers start to retire in mass. These activities will put Main Street back to work, which is the only long term solution to making and keeping Wall Street solvent.
These investments are needed now, as the next “shoe will drop” in about 10 – 15 years when there are significant numbers of baby boomers in retirement and the real economy will not have the skilled manpower necessary to build and maintain a positive foreign exchange balance in an increasingly competitive world, or to repay the debt that we have incurred.
Therefore, unless Wall Street intends to invest mainly in mortgages (or other collateral) in other countries it and the government has no choice but to stop this mad rush offshore and to invest at home in the people whose mortgages underlie their wealth.
To simply give Wall Street the money would only encourage them to invest it outside the US where the opportunities for profit are greater than they are here in a declining economy that no one is investing in.

Posted by: jamesj2 | September 30, 2008 3:53 PM | Report abuse

Both men should act like responsible adults. This should be more difficult for McCain than Obama.

Beyond that I believe Obama has the opportunity to address clearly the anxiety of the public, the black hole of the credit crunch and its impact on jobs and on availability of credit. Reminding that credit may be in crisis, but families are also heading to crisis of reduced expectations.

AS for McCain I dont think his advisors have a strategy except fear, and if they keep up it will be fear of McCain out there, for he seems so erratic

Posted by: nclwtk | September 30, 2008 3:51 PM | Report abuse

Main Street letter to Congress

We DO NOT want this bailout bill passed. If Wall St wants to bailout Wall St, let them take care of themselves, but DON’T spend a dime of our tax dollars to do so.

Middle class has been in a crisis a lot longer than the current crisis so using scare tactics about not getting a car loan, not getting a student loan, not getting a house loan, etc, is laughable. This time we are not buying scare tactics that addresses the needs of the rich while Main St is struggling to put gas in their car, put food on the table, buying medicine for our children and yet you and your buddies on Capital Hill are talking to us about car and student loans. You guys are so out of touch of our needs and values it isn’t funny. Hell, I spent 23 years in the military and I never remember being told to take a day off for a holiday when facing a crisis. Where do you guys get your values?

I, and many others, have been surviving from pay check to pay check for years, that I have no doubt we will survive this crisis no matter how low we go. Those who won’t survive, those who are scared, are the same big wigs who want to be bailed out. We are tired of being ignored and being told that something is being done for the good of Main St when time after time it would turn out it was NOT for us, but for those who had the resources and power to manipulate the system for their own greed. You are not just up against two or three weeks of doubt, but years of destroying the trust of middle class and ignoring our needs while wasting our tax dollars on your own self-absorbed careers.

Representatives continue to bicker, waste our tax dollars, use our taxes for their own pet peeve projects, continue to let CEOs and Wall St walk away with millions when they should be in jail, and you ask us to trust you to oversight the 700B and want us to believe that it will be used for the good of Main St. We are more than skeptical, but down right mad that representatives continue trying to sale their intentions that in the past proved that they are only looking out for themselves and their rich cronies on Wall St.

Anyone who votes for this bill will not get my support. The only bailout that is acceptable to American people right now is the clean out of crooked representatives and CEOs who took advantage of our tax dollars and the American people’s good will. We have nothing left to give, especially our trust.

We know that Wall St feeds the cash to those living on the Hill and we would rather see this engine dry up than to continue to fuel it. Basically what we are saying is learn what it takes to survive on Main St....learn to start listening to us...get out of your limos and walk the streets of Main St, not just during election time, but all the time.....and maybe, just maybe, you can slowly begin to build the trust that you and your buddies on the Hill have used for your own self-serving careers while ignoring Main St needs.

If you are saying that Main St does not know what we are asking for if we want this bill to fail, all I can say is we already know how that feels every time we vote or elect one of you guys.

Main St Survivor

Posted by: steveeyes | September 30, 2008 3:51 PM | Report abuse

The gloom and doom prophets are very likely incorrect. The House of Representatives will likely pass an essentially similar bailout bill within a week, the markets seem to agree, with stocks generally significantly higher.

About twenty or so of those Represenatives who voted against the bill may wish they could vote again, for the same bill or something with only token alterations. Ms. Pelopsi can bake cupcakes, as one of the Democrats suggested, to assuage the phony hurt feelings of some Republicans, feigning being offended that a Democrat, especially perhaps a Democratic woman, would have the audacity to express accurate criticism of failed right wing financial policies. As if Bush, Cheney, McCain and other Republicans are never partisan in their comments.

Barack should concentrate on his basic message, while continuing his efforts to be specific in his proposals and criticisms of Bush-Cheney-McCain policies. McCain will likely continue to be erratic in his efforts to say or do virtually anything to be elected president.

Posted by: Aprogressiveindependent | September 30, 2008 3:50 PM | Report abuse

veganjoe wrote:

McCain's maverickosity is the only thing that can get us through this crisis. If Obama spent less time whining, and more time mavericking then maybe something would get done.

----

That was the funniest thing I've read all day! Thank you!

Posted by: CaliforniaMonkey | September 30, 2008 3:50 PM | Report abuse

Just because Obama didn't make it all about him, and turn his involvement into some absurd grand-standing spectical doesn't mean he hasn't been supporting it, and the specifics of the bill, many of which were laid out by him early last week.

In McCain's case, you're mistaking motion for action. *rollseyes*

Posted by: TeriB | September 30, 2008 3:50 PM | Report abuse

We're in a really desperate situation here. Anything that either Presidential Candidate would propose at this time can't possibly be the right solution as it would have some political considerations. Therefore, my suggestion is that both call for a commission such as the 911 Commission to be convened as quickly as possible which would consist of the top Economic experts in the Country. Their job would be to come up with a solution to this problem in a neutral, non-partisan way that would have the effect of stabilizing the economy, ensuring long-term growth, and bailing out the Home Owners that have been caught up in the shameful mortgage collapse caused by educated criminals in the Financial sector.

Posted by: dspost777 | September 30, 2008 3:49 PM | Report abuse

scrivener50:
Re: POSSE COMITATUS
Welcome to the police state. The Bush administration never met a law they wouldn't break.

(Have I made my way onto the no-fly list yet?)

Posted by: CaliforniaMonkey | September 30, 2008 3:49 PM | Report abuse

McCain's maverickosity is the only thing that can get us through this crisis. If Obama spent less time whining, and more time mavericking then maybe something would get done.

Posted by: veganjoe | September 30, 2008 3:47 PM | Report abuse

"Problem is that the "big whigs" will drive a company into the ground before lowering their own paycheck. Expect sweeping layoffs and a massive contraction of the economy if no bailout materializes..."

So reward the kid that cries and throws the loudest tantrum? F*ck that.

Posted by: Independent4tw | September 30, 2008 3:47 PM | Report abuse

CaliforniaMonkey

Who do you think will benefit the majority of this $700 billion hand out money to wall street in New York?

How much Mr. Joe in the main street will benefit out of this "Jewish Bank Bailout Plan"?

Do not buy any trickle down politics?

Think again, America!

America is better off with free enterprise system. That is what we preach every day to rest of the world.

Posted by: YesWeCanForFREE | September 30, 2008 3:47 PM | Report abuse

We won't get OUR Obama back unitl this election mess is over. In the meantime it is imperative that the Dems morph this bailout plan into something the people can live with, otherwise dump it in the garbage. It is, after all, the worlds largest wealth redistribution scam in history. It's the Bushies attempt to rape the American people one final terrible time...
The congress has successfully rewritten lots of legislation to where it fails to resemble the original in any way many times before. So, now if they can just find some way to get the money to pay down my huge mortgage that the crooks talked me into........That would really be stimulating!

Posted by: HiTiger | September 30, 2008 3:46 PM | Report abuse

"Maybe he should simply admit he doesn't have a clue and let hillary take over."

It might be a good idea, too bad Obama can't bring himself to lie as well as McCain can.

Posted by: Independent4tw | September 30, 2008 3:43 PM | Report abuse

Obama and McCain are both instigators of this crisis with legislation that they have supported.The Community Re-investment Act was the beginning.

Americans are tired of bailing out private industries that move our jobs off shore only to have things continue to get worse. We have lost 8.3 million jobs and public servants like Menendez, Feinstein and Pelosi want to move 550,000 more F-1B cheap labor visa holders into this country while tent cities were popping up all over America long before this financial crisis. Every time these public servants pass legislation or a regulation, things get worse. Every time we bail out one of these poorly run, government interfered with, private companies the value of our dollar goes down and we suffer more. These public servants got us involved in an illegal war that is not only draining our economy, it is killing our children. These public servants are now having an adverse effect on one bright spot in our economy by bickering about extending tax credits for the renewable energy industry.

We know that this crisis was instigated by legislation. We know that this bailout will end up propping up the banks while we end up continuing to suffer. We are already suffering and it doesn't scare us to tell us that we are going to suffer more. The message is that if you vote for this bank bailout, you won't be re-elected.

If you want to fix this, put the country back into the hands of the people who love it. Give the money to the people. They will deposit it, catch up and renegotiate their mortgages, and buy American made products. This is trickle up economics and it is the only way that a free market works. We know that this is only a temporary fix and we expect the new batch of public servants, that will include a lot of new faces, to begin working on a way to smoothly migrate our economy back to one that is Constitutionally based and prosperous for the people, not just the elite.

http://ewebsmith.com/bus/taxpayers.html

Posted by: websmith1 | September 30, 2008 3:43 PM | Report abuse

"WTF do "Jewish Banks" have to do with anything. Are there "Jewish Banks"? Do all the Jews keep that money that they steal from us Gentiles in secret banks? WTF?"


I agree. This is not Germany, 1938. The Jews are not the cause of all your problems. Racism is not only wrong, it shows your ignorance and stupidity...

Posted by: AgnosticEngineer | September 30, 2008 3:43 PM | Report abuse

Putin doesn't have to destroy America. It's already being done by eight years of right-wing evangelical power and greed. Four more years of the same should finish it of.

Patience Putin.

Posted by: coloradodog | September 30, 2008 3:43 PM | Report abuse

To: "CaliforniaMoney" at 3:36 p.m.

Please see post directed to YesWeCanForFREE posted by "Director" ... it goes for you, too.

Posted by: scrivener50 | September 30, 2008 3:42 PM | Report abuse

"They can say bye to six figure salaries, go look for work elsewhere and retrain to a new industry, and lose their homes and investments. They are not so important anymore since London became the World's most important financial center recently."


Problem is that the "big whigs" will drive a company into the ground before lowering their own paycheck. Expect sweeping layoffs and a massive contraction of the economy if no bailout materializes...

Posted by: AgnosticEngineer | September 30, 2008 3:39 PM | Report abuse

Blame it on Bush and find us someone worthwhile to elect as our next President!!

Posted by: billpeck | September 30, 2008 3:38 PM | Report abuse

TO: "YesWeCanForFREE" at 3:13 p.m.

Thanks for the happy new year shout-out (re: "Jewish banks").

Please be advised that this blog is closely "followed" by my office, even when I'm out for a holiday, and that our interest is not limited to just the "civilians" who post here.

We will be in touch. Have a nice day.

-- Office of the Director of Homeland Security


p.s. The above is intended as a parody... but to the poster: Who's to know that it's not true?

Have a nice day... think about it.

Posted by: scrivener50 | September 30, 2008 3:37 PM | Report abuse

YesWeCanForFREE:

I think thats the first anti-semitism I've seen in this whole debate. Way to go.

Why is it that in 2008 we can't get past voting for the "black guy" or helping those "jews." WTF do "Jewish Banks" have to do with anything. Are there "Jewish Banks"? Do all the Jews keep that money that they steal from us Gentiles in secret banks? WTF?

Sometimes, people just make me sick.

Posted by: CaliforniaMonkey | September 30, 2008 3:36 PM | Report abuse

edit > "$200k-$300k homes"

Posted by: AgnosticEngineer | September 30, 2008 3:36 PM | Report abuse

"youtube keeps shutting down the video, but here it is! Burning Down The House (financial crisis mess)!"


The problem was not in providing loans to low-income families. It was in providing loans that people COULDN'T AFFORD. Far more middle class families are succumbing to debt than the the lower class ones. Most lower class families were never able to get loans. The middle class was given the means to buy up all of the $200k-$300k being constructed.

I will concede that the middle class could arguably be labeled "low-income families". But that's not you're implying. It must be the B-L-A-C-K-S. Just come out and say it...

Posted by: AgnosticEngineer | September 30, 2008 3:34 PM | Report abuse

"Fox and Friends"?

Friends like Rove, O'Reilly, Hannity, North, Reed, Huckabee, Gingrich, Hume, Ailes and other assorted Irish Catholic bigots?

Posted by: coloradodog | September 30, 2008 3:32 PM | Report abuse

If I were McCain I would let everyone know I am listening to the people and will not put forth any new plans to save Wall St.The people do not want a bailout. In the alternative, keep stalling on a solution until after the election and by then people will have figured out how to survive without the bailout and it would be a moot point. In any case Wall Street and most of the financial advisors are from New York, Connecticut area. Both states are Democratic territory so who cares. I am willing to lose my 401k which is down already anyway for them to learn the lesson. Wall St. needs to leave their ivory tower and get a little wake up call as to what the Main Street has been going through for some time. Auto workers are being displaced and losing jobs and homes, farmers are losing jobs and homes when gov't claims Florida tomatoes are causing a problem when in fact it was mexican peppers trashing our agriculture industry, home builders are losing their life savings, airline workers and teachers are forced to take reduced pay, etc. We all have had to figure out a way to retrain, survive and move ahead. It is time for Wall Street to follow suit and learn the lessons of middle america. They can say bye to six figure salaries, go look for work elsewhere and retrain to a new industry, and lose their homes and investments. They are not so important anymore since London became the World's most important financial center recently.

Posted by: surscheler | September 30, 2008 3:32 PM | Report abuse

"Army Unit to Deploy in October for Domestic Operations" -- WHAT HAPPENED TO 'POSSE COMITATUS'?


Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency.

The 3rd Infantry Division’s 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations.

The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command.

The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds.


IS THIS THE "OCTOBER SURPRISE"?

Posted by: scrivener50 | September 30, 2008 3:23 PM | Report abuse

It's the end of the GOP as we know it ...and I feel fine.

"Our economy is structurally sound for the long term"
George W Bush - Feb 11, 2008

"The American people can remain confident in the soundness and the resilience of our financial system"
Henry Paulson - Sept 15, 2008

"The fundamentals of our economy are strong"
John McCain - Sept 15, 2008

"The economy is fundamentally sound"
Herbert Hoover - October, 1931

Posted by: DrainYou | September 30, 2008 3:18 PM | Report abuse

The problem is John McCain attempting to make the bailout negotiations his political stage, which fueled partisan fire on BOTH sides of the aisle. Nancy Pelosi's dumb speech was certainly unproductive, but that does not mean Republicans should vote no just because their feelings were hurt, they were clearly reacting in a partisan manner too. So Nancy Pelosi is at fault for not respecting partisan sensitivities, and the house republicans who changed their minds are at fault for voting against the interest of the nation due to partisan impulsions. However, we all should not forget it was John McCain's grandstanding move last week that set the whole partisan ball rolling in the first place. And it wa John McCain's failure to convince his party members to approve the bill. Let's all not get the truth twisted...the events are clear for all to see.

Posted by: andytoh | September 30, 2008 3:18 PM | Report abuse

Is there any doubt that Republican policies have failed? They sound like the McGovern liberals of the 1970 in denial.

Posted by: bradcpa | September 30, 2008 3:13 PM | Report abuse

Bail out American people, yes.

Not the Jewish banks.

I would rather send out $700 billion dollars to tax payers rather than bailing out Jewish banks and hoping it will some how trickle down to the main street.

I am very proud that 5 out of 6 representatives from our districts voted against this Jewish Bailout Bill. Guess who voted for this bill, you got it.

Posted by: YesWeCanForFREE | September 30, 2008 3:13 PM | Report abuse

Surely the problems are not just toxic debt/mortgages, but bank de-regulation/fractional reserve banking system/debt-based money?

Posted by: bostonlincs | September 30, 2008 3:06 PM | Report abuse

McCain is out of touch with the American people. I wouldn't trust him with five cents. He has towed the line on economic deregulation for the last eight years.Bush_enomics gotta love it. Profiteering at it's finest.

Posted by: SourKraut | September 30, 2008 3:04 PM | Report abuse

youtube keeps shutting down the video, but here it is! Burning Down The House (financial crisis mess)!

www.youtube.com/TheMouthPeace

Posted by: RUBY2 | September 30, 2008 3:03 PM | Report abuse

Obama should just keep doing what he has been doing - Offering ideas that are palatable to both sides of the isle (even McCain followed his lead on the guidelines), staying positive and not drive further partisanship by apportioning blame, calming the nerves of the nation, working behind the scenes to get more democrats behind the bill and not getting publicly involved, spelling out clearly why the bill is important like he has done in his speeches and calling on voters from both sides to urge their leaders to support the bill. As for John McCain, he is obviously operating outside of his comfort zone on this issue and he is clearly a polarizing influence in this whole breakdown. His injection of presidential politics into this process poisoned the bill and he has done enough damage on Wall Street, and to people's retirement accounts with his grandstanding last week. John McCain should just back off before he causes any further problems. The situation is simply too grave for his selfish ambition.

Posted by: andytoh | September 30, 2008 3:03 PM | Report abuse

McCain is simply out of touch with the American people. He towed the line for the last eight years contributing to what I would call Bush-enomics. The damage to the system is looking more irreversible every day. This proposed bail out will only give us breathing room for a couple months, just long enough for Bush to exit and the next guy to deal with it. Four months ago Mr. Bush stated over and over again our economy was resilient. Now it looks like a lot of B.S.. Between costly military debacles and Wall Street profiteering we are closer to ruin than ever. The government buying everything up is a scary prospect in itself. Too close to socialism if you ask me. Of course thats my opinion. Vote wisely folks.

Posted by: SourKraut | September 30, 2008 3:00 PM | Report abuse

TO: "Joe Coach Potato"

If you were referring to scrivener's post advocating "work-outs" for strapped homeowners and those forced from their homes...

Nowhere in the post did it advocate JUST work-outs "to the exclusion of everyone else," in our words.

The post says that homeowners should come first. It did not exclude the possibility of a mechanism for financial aid to endangered business entities.

So what's silly and short-sighted about that? And what's your m.o. with the name-calling? It makes you sound like a disinfo troll...

Have a nice day, "Joe."

Posted by: scrivener50 | September 30, 2008 3:00 PM | Report abuse

This is a solution Lou Dobbs has suggested and one I wholeheartedly agree in:
"Well, the first thing we need to do is return to a traditional role of regulation. ... The problem here is not simply the housing market. ... But $700 billion and nothing in that bill deals with the foreclosure crisis, if you can imagine that. That's arrogance. That's stupidity. That is your leadership in Washington, D.C. Democratic leadership in Congress and Republican leadership in the White House.

So that's an absurdity. The first thing that has to be dealt with is mitigating the foreclosure crisis, period. Secondly, in terms of instilling confidence in the banking system and in our credit markets, the first thing to do is to deal with those institutions that are wildly out of balance, whose balance sheets, frankly, are a joke. And the regulators who should have been tending to them over the years are also a joke.

It's time to end the joke. That means aggressive regulation. It means aggressive intervention on an institution-by-institution basis."

Stop the foreclosures, stop the bleeding. How do you stop the foreclosures? Give people who are having trouble paying their mortgages some assistance. Send out another stimulus check, temporarily offer to pay the interest on troubled mortgages, etc. ANYTHING to keep these people paying at least SOME of their mortgage and NOT walk away from their homes.

Next, go institution by institution and fix their problems. Mediate the sale of the most distressed companies (this is private capital bailing them out, not taxpayers) and force the other institutions to renegotiate mortgages that are on the verge of having their borrowers default/walk away.

Stop the foreclosures, stop the bleeding, and regulate these irresponsible corporations.

Posted by: paulflorez | September 30, 2008 2:54 PM | Report abuse

Theodosia1 wrote:
"Code of Conduct Article III. If I am captured I will continue to resist by all means available. I will make every effort to escape and aid others to escape. I will accept neither parole nor special favors from the enemy.

"McCain violated the Code of Conduct while a prisoner at the so-called Hanoi Hilton. I have read that his captors wanted to release him but he refused to leave. That is a violation of Article III of the Fighting Soldier’s Code of Conduct which is also contained in Title 10 of the Uniform Code of Military Justice."

His captors were doing him a special favor so he was right to have refused them as per the article you quoted. I don't agree with what he is doing now but what he did then was very honorable and absolutely heroic.

Posted by: news-junkie | September 30, 2008 2:51 PM | Report abuse

Its a bit silly and shortsighted to expect any aid package to address only the needs of homeowners, to the exclusion of everyone else. 'Homeowners' are not the only bloc of voters that go to the polls, and 'homeowners' are not the only subset of society that have been laid off, lost their 401k, managing skyrocketing hospital, credit bills or bankruptcy, or are suffering some other condition of the economic downturn.

Posted by: JoeCouchPotato | September 30, 2008 2:48 PM | Report abuse

McCain should address the nation on the economy.


Obama - should be called out on how "post-partisan" he is - Obama is to blame for Pelosi's speech Monday which torpedoed the deal.


Seriously Obama was a NON-ENTITY in Washington last week - Obama is NOT POST-PARTISAN - NOT POST-RACIAL - NOT ANYTHING WHICH MEANS ANYTHING.


Obama is a NON-ENTITY.


It was CLEAR THAT MCCAIN CAME IN AND WAS A PLAYER AND MADE THE DEAL MUCH BETTER FOR THE TAXPAYERS - OBAMA JUST SAT THERE AND DID NOTHING EXCEPT LET HARRY REID TALK FOR THIM.


OBAMA IS NOT A LEADER.


OBAMA DOES NOTHING EXCEPT TAKE CREDIT FOR WHAT OTHERS DO - HARRY REID WANTED OBAMA TO TAKE CREDIT FOR THE DEAL - WHAT A JOKE - OBAMA IS A JOKE - MCCAIN IS THE REAL DEAL.

.

Posted by: 37thandOStreet | September 30, 2008 2:46 PM | Report abuse

I used to admire McCain when I saw him stand up to Bush. Felt sorry for him when the Bushies savaged him, saying he was psychologically damaged by his POW experience. Now that I see him up close and under pressure, I think "maverick" is a euphemism for unstable and erratic.

Team him up with Palin who,in her short life, has taken Reagan the actor, Quayle, and Dubya for role models, and we have a recipe for yet another disaster.

Posted by: Akamai1 | September 30, 2008 2:46 PM | Report abuse

For McCain to go any more negative at this stage of the campaign can mean only one thing -- racism. The McCain camp has been toying with racism all along -- now I'm afraid we're going to see the spigot turned all the way open. There's a significant block of Americans who simply don't want a black man in the White House. McCain's handlers would be stupid if they didn't know that, and even more stupid if they didn't reach out to that block, especially now that their man is falling behind.

Posted by: waxtadpole1 | September 30, 2008 2:44 PM | Report abuse

Hey McCain fans, look at this: "McCain offered a few proposals of his own including: the SAME increase on FDIC insurance on deposits proposed by OBAMA"

If Obama does "nothing" or doesn't know what he is doing, then WHY does McCain continue to copy him?!

Posted by: paulflorez | September 30, 2008 2:44 PM | Report abuse

"the rant has exposed you for the "new politics" moonbat that you clearly are. I thought you said you were intelligent and independently minded? that must have been another SNL farce on your part."

Yes, yes, of course. John McCain is stark raving mad, you follow him like a mindless robot, and I'M the moonbat... lol. I will admit to being a part of the "new politics", however that doesn't seem to mean what you think it does. Kind of like how you are clueless about who started this whole financial mess...

thanks for playing! byebye now.

Posted by: ssergio | September 30, 2008 2:42 PM | Report abuse

I hope McCain goes negative. Tell us again and again how liberal, naive, and black Obama really is. Tell us again and again how much money his programs will cost us. Never mind that Bush spent 10 trillion dollars in the last 8 years and has nothing to show for it besides 4,000 dead troops, tens of thousands of wounded troops, and an economy on the brink of the second Republican Depression in U.S. History. Republican have no problem spending trillions of taxpayer dollars to bailout Wall Street, but they can't find 9 million dollars to determine the level of pesticides in this nation's fruits and vegetables. They want to do away with government regulations, just like they do in China.

Posted by: hamishdad | September 30, 2008 2:41 PM | Report abuse

McCain is a fraud:

I have had a problem with the statements that John McCain refused to repatriate with his military unit and family after his captors wanted to release him. I kept hearing something from my training when I reported to Camp Le jeune, N.C. - it was the Code of Conduct that I was required to recite each day while I was in boot camp. The word “escape” stood out in my mind. I looked up the Code of Conduct. There it was Article III:
Code of Conduct Article III. If I am captured I will continue to resist by all means available. I will make every effort to escape and aid others to escape. I will accept neither parole nor special favors from the enemy.

McCain violated the Code of Conduct while a prisoner at the so-called Hanoi Hilton. I have read that his captors wanted to release him but he refused to leave. That is a violation of Article III of the Fighting Soldier’s Code of Conduct which is also contained in Title 10 of the Uniform Code of Military Justice.

McCain refused to provide helpful information to families of captured Americans. He refused to rejoin his wife an kids. He refused to provide critical information to military leaders. He refused to rejoin his air combat unit as an experienced pilot. There were many more questions that the military needed to ask in order to attempt a rescue of other prisoners, learn the unit name and other information about his captors, captors’ habits of moving prisoners (he had been moved to a place called “Plantation Gardens” which he never mentions), the valuable information was withheld by McCain that would have notified families that their loved ones were either alive or dead.

Posted by: theodosia1 | September 30, 2008 2:38 PM | Report abuse

Dear JRM2 ,

You see we can agree, Obama is predictable.. all he can say is the same thing over and over again. I can see you really don't have a strong grasp of the economic workings of the economy and listen to the Dem talking points.

This mess was caused by multiple people and both parties. NOT ONE. I agree that the GOP helped but Clinton put it into action. Forcing banks to give loans to high risk unqualified borrowers is STUPID. These banks figured a way to work the system brib politicians with money ( campaign contributions ) and they all got rich and happy and sold off their risk to Fannie May and Freddie Mack. Companies bought into their program and got stuck holding the cards. The Congress, Presidents ( from both parties ) and the senate help and aided bad business pratices. Over time you and I pay the price for this as does the whole country. Over 50% of the money in the stock market belongs to people like us. We lost over 1 TRILLION dollars yesterday due to BOTH parties. All you can do is blame EVIL BUSH and McCain.

McCain warned all of America back in 2006 when he cosponsored the 2005 reform bill. It is in the Congressional Record. Perhaps you need to read it. What was Obama doing??? Not trying to fix this mess! Although he did manage to take the second largest amount of money from those failed institutions in a VERY short period of time.

Posted by: tbastian | September 30, 2008 2:37 PM | Report abuse

Here is my view on what they should do:

OBAMA

* With the help of a small group of smart economists figure out what he would do *if* he was the president now. Then tell people the pros and cons of the top two or three choices and explain his eventual choice. Find an ideal long term solution and then compromise it as little as possible to have a timely solution.

If his plan is any good, chances are McCain will try to appropriate it as his own. Once he pulls that stunt, Obama can claim his proposal has bipartisan support!

He should do this pronto. Even if he can not directly implement his plan, he can have a major influence on what the congress will do. A strong, sensible, nonpartisan plan from Obama would give people confidence that come January they will be in safer hands. Since this is primarily a crisis of confidence, such a plan just may do the trick.

MCCAIN

* Do nothing, say nothing. This will be an improvement over what he is doing now.

Posted by: news-junkie | September 30, 2008 2:35 PM | Report abuse

McCain is just such a sucker for the ol' "rope-a-dope," a-la Sugar Ray Leonard.

All Obama has to do is keep asking: "Why you hitting yourself, John? Why you keep hitting yourself?"

Posted by: mobedda | September 30, 2008 2:34 PM | Report abuse

Doesn't matter who wins the election. Bailout doesn't matter. We, the middle class taxpayers, are hosed, as usual.

Just keep working and forget about retiring. Hope you still have a job.

Posted by: AbolhassanBaniSadr | September 30, 2008 2:34 PM | Report abuse

If the US Government really wants to help the small business in this country, maybe they should do that directly, instead of bailing out all these identities that made poor choices and now look to recover all the money they have written off, whether actually lost or speculated lost. It would also be a better idea to re-establish the mortgage system that works, even if it means increasing the terms, but reducing the rates. The Financial sector created this mess, and it should be them that clean it up. The stocks fell 777 points yesterday, but today it's now up 325 points. Who knows where it will end up, but we do know this, our house values (our bank account) has been reduced as much as 80 %. Now our elected officials are called to do what the financial industry wants to do, again. Do you know, most of America don't even own stock. I have $8,000 less than I did a couple years ago. The heck with BIG Business, Wall Street and the Big Salaried people on CNN FOX NEWS, MSNBC. We are in a very good position right now, we have leverage. November 4th is coming, and our elected are listing, because after next month, they too may be unemployed. WE ARE WATCHING YOU VOTE, AND WE ARE LETTING YOU KNOW! Paulson wants to be able to at his leisure write a check to banks other than US Banks. The CEO's and OIC's under this bill can continue to make millions on loses. You want an education in a failing system, watch the process of buying a used car, with marginal credit. Everyone, who has a stake in this fescue is willing to vote for a bad bill, just to make it go away. Well, its time for them to go away. I will not vote for John McCain, and I would like to see Harry Reed and Nancy Pelosi not the leaders of the Democratic Party. Most of the people who represent big business are lazy, and always will accept the easy way out. Persons in position of accomplishing something today, accomplish nothing, and give excuses for everything. Listen, everything is going as planned for the ones that have, soon they will have more. You and I being scared to death will help them get it. The Banks that wrote these loans, of every type, and forced people into them, as the beer ad says, "it's my way, or the highway" , knew what they were doing. Greed Greed These loans are coming due, and because the economy is what it is, (thanks to no insight by our government), has no way to pay these loans. Call Call every official that represents you. CALL (EMAILS ARE BEING REJECTED AS THE EMAILS ARE TAKING DOWN THE WEBSITE) the Senate, House, President. Make this an issue! Because if the bailout goes through, that empty house next to you will be worth 20% of the dollar, owned by the US Government, (you and I) and so will yours! Let the Banks. Finance Companies, Shareholders take the loss. It's better them than YOU! .........................Contact the White House ....Comments: 202-456-1111... House Leaders & Senate Leaders (Find Yours)>http://www.congress.org/congressorg/issuesaction/letters/<

Posted by: dbwsr | September 30, 2008 2:33 PM | Report abuse

This bailout is not for Traditional Borrowers neither even for those who took "No-Down-Payment-Teaser-Rate-ARMs" (Let's call it by the Greenspan term - the "Creative" one.)

It's for Lenders.

Remember, Lenders had actively encouraged those "Creatives".
It made all the financial sense for them.
Let's say a Traditional Borrower and a "Creative" one bought comparable houses, which were worth $500k in 2003.
Our average Traditional Borrower bought it in 2003.
Since it took more time to Lenders to promote those "Creative" loans, our average "Creative" one bought it in 2005 or 2006 for $800K.
Lender actually pushed those who took "Creative" loans to take as high a mortgage as possible knowing that it's more than any real value of the mortgaged house.
Since Traditional Borrower paid 20% down, he actually took a $400k mortgage in 2003, those who took "No-Down-Payment-Teaser-Rate-ARMs” took $800k in 2006.
Remember, they had bought the same kind of house (sometimes the same physical house).
This means that with those who took "Creative" loans the Lenders have created $800k of credit, while with the Traditional Borrowers -- only $400k.

Lenders had used both mortgages to create Mortgage Based Securities. (MBS)
The whole point is that MBS were presented by the Lenders as a REALLY SECURE securities, because they were backed by REAL estate, (which is nothing but a fraud , since they knew well that the "Creative" loan is non-sustainable.)
Lenders issued commercial loans based on MBS leveraged 20, 30, 40, even sometimes 60 times. Even if it was only 20 times, Lenders collected 20 x interest rates from all commercial credit they created on both loans.
However, Traditional Borrower was repaying his loan causing slow reduction in Lender's assets, while the "Creative" one was paying less than the interest, causing INCREASE in Lender's assets and allowing the Lender creating even more MBS.

So, Lenders created tens of millions of credit to corporations. Corporations (led by incompetent MBAs) spent like drunken sailors.
Lenders collected hundreds of thousands a year in interest payment based on a single securitized mortgage.

Of course, our "Creative" borrower is just an idiot and has to pay for this. But his Lender has manipulated him into this situation.

Now, the main points are:
1. Lenders knew well that this "Creative" loans are not repayable.
2. Lenders had created them because it was very profitable.
3. Lenders knew that the only thing that kept this scheme going on for years was the prospect of future bailout.
4. Lender acted having bailout in mind from the very beginning of this game.
5. As the result, Lenders had provided a lot of "cheap" credit to corporations across the Globe. C*Os of these corporations proved to be as stupid as our "Creative" borrower -- now they should pay for it as well.

There are two major things we should remember in all this mess.

1. Fraud is fraud. We need to punish it even if it will cause a recession and hardship.
2. This particular bubble had caused a huge mis-allocation of resources damaging American (and World) economy for long time. The only economic effect of the proposed bail-out is to extend the mis-allocation of our resources a little longer.

There is only one way to clean up this mess: "Creatives" should loose "their" homes.
C-whatever-Os should loose there jobs, corporations with incompetent management should go bankrupt.
"Creative" Lenders SHOULD go to JAIL!

But, instead the banking industry, Mass Media, Federal Government, Federal Reserve chairman, Congressional leaders are blackmailing the taxpayers and their representatives in order to save those criminals.
We should say NO to them. NO is NO! What part of it they can't understand?

Posted by: MichaelSchn | September 30, 2008 2:31 PM | Report abuse

arby1 posts:

"I know! Lets raise the Capital Gains tax"

In realty more investors are concerned about how they will carry forward their capital losses this year. Capital gains, what a joke under this administration, capital gains and Republicans, what an oxymoron.

Posted by: leichtman | September 30, 2008 2:31 PM | Report abuse

--"Have thoughts of your own? Offer them in the comments section below. MCCAIN"--

Ok the question that I prefer is: 'So what would it take for you to reconsider McCain'.

Hummm. Putting on my 'American' hat. Hummm. Well it's 48-10 with two minutes left to go in my book. Time to put in the second string and prepare for future clashes - this one is over - IN MY BOOK. Disagree with me? Fine with me.

Well McCain is big into gambling. Commit himself to addressing the problems on Wall Street - and hope against hope that a deal is done before the election. After it's done he can use the glory of accomplishment, 'Walk the Talk' and 'Bipartisan' with revitalized credibility.

I can't imagine anything that McCain, by himself, could say or do in the next thirty days to change my opinion. He's shown himself eager to pull pointless stunts - so words won't do it any more.

Obama. Just keep on keeping on. Run the same offense/defence that got you here - avoid the 'playing it safe' 'prevent' defence. Any change in McCain's game - use against him as - 'desperation'. Respond to slime with 'politics as usual' ' Swift Boat politics' and 'I call on XYZ to devote the creativity that they use in making personal attacks against me - to help figure out a way to solve the mess on Wall Street.'

Posted by: DonJasper | September 30, 2008 2:30 PM | Report abuse


OBAMA: DEMAND A NEW BILL THAT PUTS HOMEOWNERS FIRST

McCAIN: DEMAND A NEW BILL THAT PUTS HOMEOWNERS FIRST

CONGRESS: DRAFT A NEW BILL THAT PUTS
HOMEOWNERS FIRST

• "Work-outs" for strapped homeowners as well as for those who were forced out of their houses by unscrupulous lending practices

Today's market rebound, while short of covering yesterday's losses, proves the markets can survive without welfare for the rich.

House Republicans saved the day by refusing to go along. Obama and the Dems stand to lose politically for their willingness to buy into a flawed plan.

McCain will adopt their view of the House GOPers, and emerge the victor -- UNLESS Obama, Pelosi and Reid cease their appeasement and come up with their own bill, one that offers meaningful "work-outs" and grants a primary equity position for taxpayers in any bad debt buy-outs.

If Congress is going to socialize risk, then it must engage in democratic socialism and let the public share in the upside. Otherwise, lawmakers are endorsing NATIONAL socialism -- and we all know what THAT can mean.

Congressional Democrats must stand up to Wall Street's extortion demands by mandating a "work-out" system to help homeowners stay in their houses, thus guaranteeing the solvency of mortgage instruments held by financial institutions.

Both Barack Obama and John McCain sold out the people. Obama's ads convey the right message: Put the homeowners first. But the bill did not do that. Instead, it was a welfare program for Wall Street fat cats and their corporations, with one man, the Treasury secretary, in charge of doling out the goodies. The "oversight" provisions contained in the defeated bill were largely window-dressing.

One must wonder whether there are some who'd secretly like to see the economy go down the skids -- setting the stage for widespread economic travail that could lead to social unrest and an opening for a repressive political regime.

Remember: The Nazi rose to power amidst economic chaos, fueled by convenient events such as the Reichstag fire.

To thwart those who would seek to exploit economic tumult to achieve their peculiar brand of "social engineering," both Obama and McCain would be wise to insist on a bill that saves the economy by restoring the underlying value of mortgage-backed securities instead of simply handing out money to those who were complicit in creating the crisis.

And the bill also should come to the rescue of all those who lost their houses to a corrupt system within the past few years.

BUT DID THE GOV'T ITSELF HELP SPAWN THE MELTDOWN
BY "TARGETING" CITIZENS FOR RUIN VIA "EASY CREDIT"?

See http://members.nowpublic.com/scrivener re: "Government Targeting of U.S. Citizens: A Root Cause of Financial Crisis?"

Posted by: scrivener50 | September 30, 2008 2:29 PM | Report abuse

Both candidates are purposely ingoring the crazy aunt in the attic. Neither has, or will, address military spending.

There is only one place to look for enough savings to pay for essential programs. We have to consider the effect of our military spending on the rest of our economy and our ability to address other chronic problems like paying for the bailout, national infrastructure, education and training, real homeland security, energy independence and technical innovation on energy alternatives and so on.

Please note: We spend more on the military than the rest of the world combined. And I'm not sure this even covers Iraq, most of which is off budget.

We spend 5 times as much as our most likely threats,Russian and China, combined.

How much is enough? Just imagine what we could do if we spent only 2 times as much as Russia and China combined.


Here, for the record are World Wide Military Expenditures


World$1100 billion 2004 est.

Rest-of-World [all but USA]$500 billion 2004 est.

United States$623 billion FY08 budget

China$65.0 billion

Russia$50.0 billion

France$45.0 billion

United Kingdom$42.8 billion

Japan$41.75 billion

Germany$35.1 billion

Italy$28.2 billion

South Korea $21.1 billion

India$19.0 billion

Saudi Arabia$18.0

Australia$16.9 billion 2006

Posted by: gjhinnova | September 30, 2008 2:29 PM | Report abuse

I find it telling that the #1 suggested strategy for McCain is to go negative. "Many Republican strategists believe there is simply no way for McCain to win an economic-focused election by touting his own plans to turn things around." Start attacking the other guy's character, and don't let up until election day... that'll do it!

I really hope Americans don't fall for that.

Personally, I hope to see Obama take some calm initiative to show that he does have a well thought out plan to help ease the process at the very least. I like the summit idea, but generally feel that this could end up politicizing the crisis more than it will help. There is no clear answer, but I do think Obama has the upper hand here.

Posted by: ek1029 | September 30, 2008 2:26 PM | Report abuse

Lets be clear--DEREGULATION ccreated this crisis!!!

Financial institutions and their cowboy bankers created products that were dangerous and not grounded on lending fundamentals. These loans were packaged as securities to prop up other bundles of investments. Wall St ran wild with money over the last few years as a result. Now that the house of cards has crumbled, the free marketers are left naked and feeling like asses for chasing easy victims.

We privatize profits and socialize losses. This is a painful lesson showing the limits of the free market!!

Obama has a better vision than McPalin on this one!!!

Posted by: indytucker | September 30, 2008 2:25 PM | Report abuse

McCain may go negative, or wild and frenzied, or sullen. But whatever he does, Obama should give him a wide berth. I wouldn't touch him again for love or money. Any overture from Obama to McCain for a bipartisan approach to the bailout mess will likely be used in some cynical fashion by McCain. With a fractured and squabbling Republican Party, how can McCain be trusted to do anything sensible? Democrats should put their heads together, come up with the best and most creative solution they can muster, round up all the Dems they can find and push a solution through. IGNORE THE CRAZY IDEOLOGUES ON THE RIGHT! They had their chance and they blew it. Obama, and even Pelosi,should consider these idiots as self absorbed and incapable of service. Let the adults handle this. If the Dems want or need a 'summit' it should be with experts with some common sense. God save us from these wild-eyed, falsely martyred right wingers!

Posted by: americanactive | September 30, 2008 2:25 PM | Report abuse

To all McCain supporters who have any of their savings or 401ks in the stock market I implore you to read page 20 of the Republican Platform and hope that someone asks the Palin/McCain/Hoover campaign if they now are ready to repudiate this specific language in their party platform that states:

BUSINESS AND THE ECONOMY

"We support incentives and ""deregulation"" to encourage capital investment" to ensure retention and creation of jobs in America."

How is that working out so far for your retirement savings?

Posted by: leichtman | September 30, 2008 2:20 PM | Report abuse

If Obama delivers a speech explaining the necessity of action and the negative consequences of inaction, he stands to benefit politically as well as contributing to a resolution of the current crisis.

He would appear to be Presidential in asserting leadership and in explaining the problem, it would remind voters that Obama will be different from Bush and/or McCain in his ability to rally the country. He has the rhetorical skills to pull it off.

Posted by: OHIOCITIZEN | September 30, 2008 2:18 PM | Report abuse

Doesn't change the fact that McCain is simply insane, and is just as likely to kill us all as he is to bring "change" to a place he has been a fixture of for two decades. The man's entire candidacy is a farce, a fiction, a doa nything, say anything grab for power at any cost. Its repugnant and shameful. Just like how he treated his first wife.

Posted by: ssergio


the rant has exposed you for the "new politics" moonbat that you clearly are. I thought you said you were intelligent and independently minded? that must have been another SNL farce on your part.

Posted by: king_of_zouk | September 30, 2008 2:18 PM | Report abuse

Senator Obama is winning the presidency. He has proven himself presidential with a well-thought out plan for the 21st century. His policies are provided as pdfs on his website and he (and others) has published books on his policies and speeches.

The polls are breaking out nationally and producing more swing states including states that haven't voted for a Democrat president for decades. He is pulling in support from a vast set of different types of people (men/women, all races, all ages, poor/middle class/rich, highly educated and not, urban and suburban, progressives/moderates/independents/new voters, Christian moderates and born again/Jewish/Buddhist/Other). It is amazing. He is not bringing in the rural and very small town vote very well. He is not bringing the Fundamentalist evangelical Christian vote very well, although the young are voting for him. It is very exciting.

And of course, Senator has overwhelming support internationally.

Posted by: lucy2008 | September 30, 2008 2:18 PM | Report abuse

There is a very dark future ahead for all of us. I dont know if Either Candidate can handle it.

---------------------

The future is simply unknown. We either light it with positive action or darken it with destructive action/inaction.

Even in the "darkest" days of the European medieval period, there were bright lights here and there.

The past decades may have seemed bright for us, but they were dark for many many others. Maybe the world is righting itself and a new way of being is evolving.

Everyone is certainly a little more awake right now. Some will panic, some will thrive, some will take advantage, most will do the best they can.

What will you do?

Posted by: wpost4112 | September 30, 2008 2:15 PM | Report abuse

Let's take a moment to review how we got here.


First, John McCain came to power as a self-proclaimed "Reagan Revolutionary". He has been devoted to "supply-side", aka voodoo, economics throughout his career. As a member of the Keating 5, and the closest senator to Charles Keating, John McCain set the tone for his career, failed economic policies bordering on criminal activity, the absence of regulation and a slavish devotion to the myth of free markets.


Next, he surrounded himself with the most tainted lobbyists in Washington. The clearest case is that of McCain's own campaign manager, Charlie Black, who remains an officer of the lobbying company which has been receiving tens of thousands of dollars a month from Fannie and Freddie. Did he do any work for them? Did he fight off regulation, or was he simply paid to deliver access to Senator McCain, potentially the next president of the United States.


Moreover, McCain's closest economic advisor and mentor, Senator Phil Gramm, was the ultimate leader of the charge for deregulation. Gramm even said that the current recession is "mental" in nature and evidence that we are a "nation of whiners."

http://www.youtube.com/watch?v=YxT0s_I5WtA
.

John McCain was clearly under the influence of Phil Gramm, his likely Treasury Secretary if elected, when he failed to understand the economic issues that created this situation. When John McCain declared that "the fundamentals of the economy are strong", he proved himself completely out of touch with working Americans.


When John McCain finally realized his catastrophic failure to see the political disaster in this crisis, he became a radical drama queen and parachuted into the middle of the tense negotiations in Congress. McCain hadn't voted in the Senate since April, but he decided he would make himself out as the great savior of the economy. He "suspended" (not really) his campaign and begged for a debate delay. McCain's unhinged shenanigans shone a white hot spotlight of presidential politics in the middle of the Paulson bailout plan negotiations and destroyed them.


With his erratic power grab, McCain took full ownership of the Paulson plan. He made it his own and then failed to see it through. The Democrats delivered their votes, but McCain, who gave his support to the plan, failed to garner Republican support in the House. Instead, 133 Republicans told McCain to take a long walk off a short pier.


In sum, this is yet another massive failure for John McCain, demonstrating once again his instability and inadequacy. McCain was unable, even in the face of pending economic disaster, to rally his party. With this failure, McCain has gone from primary hero to Pee Wee Herman. Unworthy of trust, and unable to cash the checks his ego writes, John McCain is the one to blame more than anyone for today's 777 point loss on the Dow.


From ideology to ignominy, John McCain owns this disaster.


Here's some more mavericky straight-talk, my friends:
.
http://www.youtube.com/watch?v=HAzDEbVFcg8
.

Posted by: DrainYou | September 30, 2008 2:14 PM | Report abuse

No, it is taking a chance, we can always vote him out in 4 years.
I firmly believe with Mccain there is no mystery with. Mccain is a demented war monger and very dangerous. I have met Mccain and when I left we were all saying to each other, "This man must never be allowed to be president. After spending about 30 minutes with Obama I think the guy is the real deal. It is no leap of faith for me, but for those who are on the fence it may have to be. We can not allow John Mccain to be elected.

=======
"We may need to make a major leap of faith here"

At least you are now ready to admit that this idea has no basis in reality. you are making progress. there is still hope for you.

Posted by: king_of_zouk | September 30, 2008 2:06 PM | Report abuse

Posted by: popasmoke | September 30, 2008 2:13 PM | Report abuse

Why on earth would any of us listen to the economic prescriptions of the people who got us into this mess -- amongst both Republicans and Democrats...? They are both to blame. Do we really think that they have suddenly gained competence...?

Why is the media is not focusing on the economic prescriptions of the people who WARNED us for YEARS that this would surely happen...? Why isn't the government focusing on their recommendations? Wouldn't this seem like a good time to take them seriously...?

Those are the people I want to hear. I'm not interested in the silly opinions of the more stupid short-sighted, self-serving members of congress.

It's like this: The people who warned us for years that this would happen are also warning us how catastrophic a bailout would be. Hard times will definitely come for a season -- but the bailout will mean the collapse of the dollar and with it the world economy. The problem will last for much longer and be much worse.

Posted by: carolm62 | September 30, 2008 2:10 PM | Report abuse

Someone should grab on to the Ship's Wheel. This is a perfect economic storm and the sailors are in mutiny. ...............
http://thefiresidepost.com/2008/09/30/the-perfect-economic-storm-with-no-captain-video/

Posted by: glclark4750 | September 30, 2008 2:10 PM | Report abuse

Getting serious for a second here:

For Obama and the Democrats, how about a reprise of the Republicans' wildly successful "Contract with America"? It seems like the problem is public distrust of politicians on either side of the aisle to address issues of concern to the non-rich and non-powerful. People realize that something needs to be done to right our financial system, but they're still upset that they didn't share in any of the gains of the boom period and now are apparently asked to pay to pull the economy out of the hole of the bust. Perhaps what we want is some assurance that we'll share more equitably in the gains of the next economic upswing; but right now, in a rush to avoid a crisis and deal with elections, is not the time that politicians are willing to deal with long-term issues like this.

If the Dems can offer a written promise (perhaps better received than the verbal promises that politicians always make) that issues of equitability will be addressed in the early days of the next Congress, perhaps the public will be willing to agree to an emergency measure to tide us over to that point. Unlike the Republican Contract of last decade, this one will actually benefit most Americans; and unlike the Republicans, maybe the Dems will actually deliver.

For McCain, it's too late - unless he wants to reconsider his choice of a clearly unqualified VP candidate that sets the cause of women's political equality back another 5-10 years...

Posted by: mer2 | September 30, 2008 2:09 PM | Report abuse

It appears to me that Chris has omitted one key thing that Obama could do to push the Economic Stabilization Act toward passage. This is an option not really available to McCain as it's not something he's well-positioned or well-suited for.

In a campaign event in Nevada today, Obama offered a clear explanation of why the current financial crisis must be resolved, what is at stake for the economy as a whole, and how it can negatively impact ordinary people. Obama possesses the rhetorical skills to move the meter here, to convince ordinary voters that they need to push their Representatives to resolve the crisis. He should consider a speech Wednesday, not from Washington, but from somewhere in a Midwest or Western battleground state. Bill it as a major economic speech so the cable networks will ramp up coverage. Then use the time to explain, in terms Bush and Congressional leaders have been unable to, why legislation is necessary.

Posted by: OHIOCITIZEN | September 30, 2008 2:09 PM | Report abuse

I'm confused as to why politicians should be considered competent to solve an economic crisis? And during a presidential campaign!!?? Why not get some serious economists involved (not many of whom seem to be behind the "700 billion" proposal. See "How to Fix Our Banking System" at karl@denninger.net

Posted by: pattyjo1 | September 30, 2008 2:08 PM | Report abuse

There is a very dark future ahead for all of us. I dont know if Either Candidate can handle it.

www.exchangelifenow.com

Posted by: thedeez | September 30, 2008 2:08 PM | Report abuse

ppposamoke says:

My father, who has been dead for many years always said, "Nothing is forever". We take it for granted we will always be a world power. We may very well have seen our best days behind us. We really need a vision if we are to survive. This country is being destroyed from the inside out. It won't take someone else to take us down, we are doing it ourselves.

-------------------

Your Poppa was very wise. Not sure Obama can lead us out of this mess but I sure as heck know that McCain /Palin can't.

Posted by: wpost4112 | September 30, 2008 2:08 PM | Report abuse

What should they do for their campaigns, or what should they do if they both think a bailout is necessary for the nation?

I do not give a rat's tail for what they do for their campaigns.

But - if they both think this is a good idea, BHO could start by calling Doggett and Edwards, Ds, TX; and McC could start by calling McCaul and Carter, Rs, TX. They could pick up twelve votes between them in the TX delegation alone, with some serious phone work and the personal touch.

If either thinks the bailout is a bad idea that one should try to kill it in constituency.

Again, I could not be less interested in their campaign decisions.

Posted by: mark_in_austin | September 30, 2008 2:07 PM | Report abuse

" but the Bering Strait is only 90. Clearly this guy is not the threat he's made out to be."
---
Yeah but I think he'd be trying to avoid Palin because of all her foreign policy experience.

Posted by: JRM2 | September 30, 2008 2:07 PM | Report abuse

""My only "claim" is that McCain would be a horrible president. "

sounds just like the messiah. indeed his only claim."

Actually, once you again you have it completely backwards. Obama is claiming that he would make the best president. It is McCain, in fact, who is the one campaigning on a platform of "the other guy isn't good enough".

Look, I know your type. Kind of robotic, probably visits the McCain website daily in order to log your "I supported you on X weksite so send me a McCain pen" entries, pinches your nose about all the things you hate about McCain because, well, after all he is the republicant's nominee.

Doesn't change the fact that McCain is simply insane, and is just as likely to kill us all as he is to bring "change" to a place he has been a fixture of for two decades. The man's entire candidacy is a farce, a fiction, a doa nything, say anything grab for power at any cost. Its repugnant and shameful. Just like how he treated his first wife.

Posted by: ssergio | September 30, 2008 2:07 PM | Report abuse

"We may need to make a major leap of faith here"

At least you are now ready to admit that this idea has no basis in reality. you are making progress. there is still hope for you.

Posted by: king_of_zouk | September 30, 2008 2:06 PM | Report abuse

DDAWD says:

Obama has drawn a +3 in Florida.

-----------------


oh-oh. I think Zouk just soiled himself.

Posted by: wpost4112 | September 30, 2008 2:04 PM | Report abuse

After watching Mccain the last couple of weeks I don't think our imaginations can possibly conjure up the damage he could do as president. Biden for the first time last week called Mccain dangerous, the exact words many of us have been using for months. This is more then just an election, it may be the future of this country. The next decade may be the most defining point in our recent history. My father, who has been dead for many years always said, "Nothing is forever". We take it for granted we will always be a world power. We may very well have seen our best days behind us. We really need a vision if we are to survive. This country is being destroyed from the inside out. It won't take someone else to take us down, we are doing it ourselves. Obama, as young and unproven as he may be. For this country he may very well be a messiah, I am not kidding. We may need to make a major leap of faith here. We know what we have is not working.

---------
@ king of zouk

I am simply intelligent and capable of independant thought. That is really all it takes to realize that a McCain presidency would be a train wreck of epic proportions.

Posted by: ssergio | September 30, 2008 1:44 PM | Report abuse

Posted by: popasmoke | September 30, 2008 2:03 PM | Report abuse

Socialist tax-and-spender Barack Obama should stay out of Washington now and forever. God ( or whoever you believe in) help the American people if they're dumb enough to elect a Socialist/Communist white--hating and America--hating guy like Barack Obama to lead our country. His "from each according to his ability, to each according to his need" (tax-and-spend) form of governing will make matters much, much worse and will cause a depression similar to the one back in 1929 if he's elected. The Obama Socialists trying to push the idea that Obama would lower taxes must really think that we all fell off of the Turnup Truck. The liberal Democrat-Socialists have never lowered taxes in the 50+ years when they had control of congress--prior to the GOP takeover in 1996--and you'd have to be a moron to believe them now.

Posted by: armpeg | September 30, 2008 2:03 PM | Report abuse

Congrats Rebublicans:

You've officially broken the back of the middle class.

Posted by: JRM2 | September 30, 2008 2:02 PM | Report abuse

"Putin has his armed forces crossing the Atlantic to take over - President Obama is still asleep."

What an idiot. The Atlantic is what, 2500 miles across, but the Bering Strait is only 90. Clearly this guy is not the threat he's made out to be.

Posted by: bsimon1 | September 30, 2008 2:01 PM | Report abuse

It's clear that the bailout plan rejected by the House will not pass, regardless of how much "tweaking" the leadership does.

And it should not pass. For once, the unlikely coalition of liberal Democrats and conservative Republicans got it right when they rejected the plan yesterday.

It's simply the wrong solution - as it sets out to reward the idiots who created the problem in the first place, in the name of preventing a horrible meltdown for everyone.

Which is just more of the same neo-con alarmism that got us where we are today.

What is needed is a plan that helps us, the American people, rather than wealthy Wall Street investors and greedy bankers.

Start with mortgage relief, which can be done without any new authorizing legislation - just direct lenders to rewrite defaulting mortgages under terms that keep people in their homes. That action alone will restore confidence in the mortgage market, while it actually helps people who need help. We will see an immediate improvement in the housing market and increased confidence in our economy in general.

Then look at what's needed so we don't ever need another bailout - namely, effective ongoing regulation and oversight - like we used to have before deregulation (starting with Reagan and continuing unabated since) that eliminated almost all oversight of lending and investing institutions.

If companies need to be "bailed out," then the Treasury can buy up all of their stock (at current deflated price), fire current management (with NO golden parachutes), prosecute dishonest executives when appropriate, bring in competent management chosen by folks like Warren Buffett, sell off non-performing assets of the troubled firms, turn around the companies' balance sheets, and thereby improve the value of the stock. At that point, the Treasury can sell off the firms they've acquired and turned around and the American people can profit and be repaid their investment in the form of rebates and refunds.

Is this really so difficult? It's not rocket science. But it does require vision, clarity, and a commitment to do what's right for Americans, not what's desired by bankers and investment brokers.

I'm not convinced that anyone in Congress has the ability to do this, though - they certainly haven't to this point, undoubtedly because they are still owned by lobbyists who don't give a damn about anyone except the interest group they represent.

So when it's all said and done, let's eliminate lobbyists too. All of them - the good, the bad, and the ugly - all of them. We can finance our elections with public funds, and our representatives will no longer have to sell themselves to the highest bidder to get elected.

Presto. Problem solved.

Posted by: deberry10 | September 30, 2008 2:01 PM | Report abuse

"Main Street letter to Congress

We DO NOT want this bailout bill passed. If Wall St wants to bailout Wall St, let them take care of themselves, but DON’T spend a dime of our tax dollars to do so."
-------

They will just steal it from somewhere else like our 401k's and college savings plans.

Posted by: JRM2 | September 30, 2008 2:01 PM | Report abuse

Main Street letter to Congress

We DO NOT want this bailout bill passed. If Wall St wants to bailout Wall St, let them take care of themselves, but DON’T spend a dime of our tax dollars to do so.

Middle class has been in a crisis a lot longer than the current crisis so using scare tactics about not getting a car loan, not getting a student loan, not getting a house loan, etc, etc, etc, is laughable. This time we are not buying scare tactics that addresses the needs of the rich while Main St is struggling to put gas in their car, put food on the table, buying medicine for our children and yet you and your buddies on Capital Hill are talking to us about car and student loans. You guys are so out of touch of our needs and values it isn’t funny.

I, and many others, have been surviving from pay check to pay check for years, that I have no doubt we will survive this crisis no matter how low we go. Those who won’t survive, those who are scared, are the same big wigs who want to be bailed out. We are tired of being ignored and being told that something is being done for the good of US when time after time it would turn out it was NOT for us, but for those who had the resources and power to manipulate the system for their own greed. You are not just up against two or three weeks of doubt, but years of destroying the trust of middle class and ignoring our needs while wasting our tax dollars on your own self-absorbed careers.

Representatives continue to bicker, waste our tax dollars, use our taxes for their own pet peeve projects, continue to let CEOs and Wall St walk away with millions when they should be in jail, and you ask us to trust you to oversight the 700B and want us to believe that it will be used for the good of Main St. We are more than skeptical, but down right mad that representatives continue trying to sale their intentions that in the past proved that they are only looking out for themselves and their rich cronies on Wall St.

Anyone who votes for this bill will not get my support. The only bailout that is acceptable to American people right now is the clean out of crooked representatives and CEOs who took advantage of our tax dollars and the American people’s good will. We have nothing left to give, especially our trust.

Main St can survive on soup and do with less while rich politicians and Wall St are worried about the mortgage on their 2nd home. We know that Wall St feeds the cash to those living on the Hill and we would rather see this engine dry up than to continue to fuel it. Basically what we are saying is learn what it takes to survive on Main St....learn to start listening to us...get out of your limos and walk the streets of Main St, not just during election time, but all the time.....and maybe, just maybe, you can slowly begin to build the trust that you and your buddies on the Hill have used for your own self-serving careers while ignoring Main St needs.

Vote NO for this bill and support Main St values and needs...A vote YES means a vote for the those who use and steal the taxes of middle and low income Americans for the needs of the rich that fuels politician's political careers.

Posted by: steveeyes | September 30, 2008 1:59 PM | Report abuse

Many taxpayers, home owners and former home owners, have suffered significant losses in home sales in the past and current year, including through foreclosures. In a country where GAMBLING losses are deductible, please write to your Representative, demanding that Congress provide relief for taxpayers who have suffered loses through sales or foreclosures of their homes.

Posted by: ElRosas | September 30, 2008 1:58 PM | Report abuse

Obama has drawn a +3 in Florida.

just so you guys know.

Posted by: DDAWD | September 30, 2008 1:58 PM | Report abuse

"My only "claim" is that McCain would be a horrible president. "

sounds just like the messiah. indeed his only claim.

Posted by: king_of_zouk | September 30, 2008 1:57 PM | Report abuse

"... The streets in Washington are lit in fire...

Posted by: Verrazzano | September 30, 2008 1:51 PM"
---
Kind of ironic you should mention the above, reminds me of 9/11

Posted by: JRM2 | September 30, 2008 1:57 PM | Report abuse

Best ad of the campaign thus far.

McCan't is floundering.

Posted by: toneye | September 30, 2008 1:56 PM | Report abuse

"It is 4:00 am - Putin has his armed forces crossing the Atlantic to take over - President Obama is still asleep."

Um, duh, everyone knows that if Putin invades, it will be through Alaska.

And then its PALIN time! She will field dress that whole army from a helicopter.

Posted by: DDAWD | September 30, 2008 1:56 PM | Report abuse

"so your claim is that 50% of the country is moronic and programmed, not like you, of course.

that sounds like the argument of someone who is anything but "intelligent and capable of independant thought"."

More like 45% of the country and falling these days ;)

Regardless, nice attempt at a strawman argument. How very McCain-ish of you. My only "claim" is that McCain would be a horrible president. My "statement" re: intelligence and independant was not so much a general statement about anyone in the country who supports McCain, as it was a specific statement about you. *shrug*

Posted by: ssergio | September 30, 2008 1:56 PM | Report abuse

It is 4:00 am - Putin has his armed forces crossing the Atlantic to take over - President Obama is still asleep.


------------------

Hell, why would Putin even want to invade a land that is broke, falling apart and full of fat lazy whiners and nutty religious freaks?

Even the fries suck.

Posted by: wpost4112 | September 30, 2008 1:54 PM | Report abuse

"so your claim is that 50% of the country is moronic and programmed, not like you, of course.

Posted by: king_of_zouk | September 30, 2008 1:49 PM "
--------

king_of_zouk, get a grip, you are vomiting all over yourself like McCain has been doing for the past two weeks. Sergio never made the claim you reference above, he just claimed that "HE" was capable of independent thought.

But maybe your assumption IS correct.

Posted by: JRM2 | September 30, 2008 1:54 PM | Report abuse

Chris:

You went to all that trouble to get rid of abusive comments, but all we get now is a series of rants from a certain self-styled monarch.

Fail.

Posted by: FlownOver | September 30, 2008 1:52 PM | Report abuse

I think we can all cut to the chase here. In the last two week we have had a 3 am moment and we saw how mccain responded. From wanting to blame, to wanting to fire people, to erratic behavior with his own campaign. Suspending his campaign, trying to get out of the debate. Trying to get the Palin debate cancelled all together while jumping from one position to another. Mccain panics in a crises and his first instinct is to find someone to blame and do what ever it takes to cover his own a$$,
This is "NOT" what you want in a president.
Obama was perfect, cool collected. Mccain made fun of Obama when he said he wanted to asses the situation as Mccain went firing all over shooting from the hip at every shadow. These two weeks have been the most telling since these campaigns started.
I would not vote for Mccain under any circumstances.

Posted by: popasmoke | September 30, 2008 1:36 PM | Report abuse

------------------------

It is 3:00 am - President Obama is still asleep.

It is 3:15 am - President Obama is still asleep.

It is 3:30 am - Mayhem throughout the land - President Obama is still asleep.

It is 4:00 am - Putin has his armed forces crossing the Atlantic to take over - President Obama is still asleep.

It is 5:00 am - The world is in turmoil - President Obama is still asleep.

It is 6:00 am - Members of Congress are heading out for their bunkers - VP Joe Biden does not understand why Amtrak is not running - President Obama is still asleep

It is 7:00 am - The streets in Washington are lit in fire - President Obama wakes up - he has no idea what is going on and wonders why House Speaker Pelosi did not give him phone call

Posted by: Verrazzano | September 30, 2008 1:51 PM | Report abuse

What should they do?

Lead.

It's that simple.

We lack leadership. Anywhere.

Posted by: wpost4112 | September 30, 2008 1:50 PM | Report abuse

I am simply intelligent and capable of independant thought. That is really all it takes to realize that a McCain presidency would be a train wreck of epic proportions.

Posted by: ssergio

so your claim is that 50% of the country is moronic and programmed, not like you, of course.

that sounds like the argument of someone who is anything but "intelligent and capable of independant thought".

Posted by: king_of_zouk | September 30, 2008 1:49 PM | Report abuse

Reviewing proposals both for Obama and for McCain, seems like the stimulus package already associated with Obama might productively be reintroduced by him.

Posted by: FirstMouse1 | September 30, 2008 1:47 PM | Report abuse

msmith97 writes
"The liquidity problem is a farse. The money is still out there. The remaining banks are just sitting on it."

That is certainly true, the problem is that they've gained a new respect for risk. Bank 'A' has a pile of cash. Bank 'B' has a cash flow problem and asks Bank 'A' for a short loan. Bank 'A' says "are you credit-worthy?" If Bank 'B' can't prove it, Bank 'A' will continue to enjoy its hoard of cash, in lieu of an IOU from Bank 'B' that may not be able to honor the IOU.

Think of the Seinfeld episode about sponges. Elaine has a dwinding supply of sponges & doesn't know when/if she'll ever be able to get more. Sponges that she used to use apparently on a whim suddenly have much more value - so she's much more picky about when a sponge will be used.

Posted by: bsimon1 | September 30, 2008 1:46 PM | Report abuse

@ king of zouk

I am simply intelligent and capable of independant thought. That is really all it takes to realize that a McCain presidency would be a train wreck of epic proportions.

Posted by: ssergio | September 30, 2008 1:44 PM | Report abuse

I would just like to congratulate the Republican party, they have managed to take the most vibrant, wealthy economy in the HISTORY OF THE WORLD and bring it to it's knees in a ball of flames in just 8 short years!

A very thorough job well done!, by "patriots" no less.

Posted by: JRM2 | September 30, 2008 1:44 PM | Report abuse

Posted by: ssergio

Are you the writer for SNL? your creativity and originality give you away.

I must assume you are an Obamoron since you reply much like he does - ME TOO!

Posted by: king_of_zouk | September 30, 2008 1:42 PM | Report abuse

I know! Lets raise the Capital Gains tax, gas tax, estate tax, and how about a Federal Sales tax?! And lets give the banks a blank check to remove their "toxic paper" debt. It's all the taxpayers fault, so lets make them pay!

Posted by: arby1 | September 30, 2008 1:41 PM | Report abuse

My "report moron" link is missing.

---

Resume: Barrack Hussain Obama

Position Desired: POTUS, I already have my own seal

Qualifications: I hope to change things

Job history:
Us Senate - two years
reason for leaving - bored

State Senate - three years
reason for leaving - to find myself

Law firm
Reason for leaving - didn't make partner

community organizer
reason for leaving - frustrated

Lecturer
reason for leaving - bored

Publications - none
significant contributions - none
laws passed - none
scholarship - none

five year plan - be rich and loved by adoring crowds

References - let me get back to you, they are all in hiding

did I mention that I don't look like the others?


Posted by: king_of_zouk | September 30, 2008 1:22 PM | Report abuse

Posted by: ChadPitt | September 30, 2008 1:40 PM | Report abuse

"This guy is SO predictable I can tell you what he is going to say before he does it."
Posted by: tbastian | September 30, 2008 1:29 PM
----
That's because it IS predictable and apparent that we are in this mess because of "McCain and the failed policies of GWB over the past 8 years."

Remember a thing called the "surplus" 8 years ago?

Who has voted with Bush 90% of the time and embraces his economic policies?

Doesn't take a genius to predict that, just common sense.

Posted by: JRM2 | September 30, 2008 1:39 PM | Report abuse

McCain is so desperate to be president, I doubt there is anything he would not do. With nothing else left, expect his campaign to go as negative as possible in a personal way against Obama. The only problem is that when such personal negative attacks worked in previous presidential elections they were made much earlier in the campaign season. McCain has waited too late. Now it will look like complete desperation. It will turn off the very voters who are left to sway - the independents and undecideds (mostly women) who so dislike partisan politics and personal attack campaigning.

Posted by: Byron5 | September 30, 2008 1:39 PM | Report abuse

The liquidity problem is a farse. The money is still out there. The remaining banks are just sitting on it.
Partisan playing?
Once the country is educated as to just how bad the Republicans have done us, we won't have to worry about partisanship anymore. Republicans will be as extinct as the dinosaurs.
Taxes?
Once you see your tax break and you see that the rich really won't miss any meals when they lose their tax breaks.Trust me, things will get better.
We just need to get past the holy rollers and their misguided trust. If they really understood the Bible they'd be voting Democratic. they just like to be lead around by ignorant preachers.

Posted by: msmith97 | September 30, 2008 1:38 PM | Report abuse

I think we can all cut to the chase here. In the last two week we have had a 3 am moment and we saw how mccain responded. From wanting to blame, to wanting to fire people, to erratic behavior with his own campaign. Suspending his campaign, trying to get out of the debate. Trying to get the Palin debate cancelled all together while jumping from one position to another. Mccain panics in a crises and his first instinct is to find someone to blame and do what ever it takes to cover his own a$$,
This is "NOT" what you want in a president.
Obama was perfect, cool collected. Mccain made fun of Obama when he said he wanted to asses the situation as Mccain went firing all over shooting from the hip at every shadow. These two weeks have been the most telling since these campaigns started.
I would not vote for Mccain under any circumstances.

Posted by: popasmoke | September 30, 2008 1:36 PM | Report abuse

Resume: John "Maverick" McCain

Position Desired: POTUS, I already have my plans to bomb Iran and Russia

Qualifications: I hope to con people into thinking I can "change" things, since clearly my experience isn't going to convince you to vote for me

Job history:
US Senate - a lobbyist scandal followed by twenty+ years of feigned outrage
reason for leaving - everyone thinks I am a joke

US Navy - I liked the strippers
reason for leaving - I wasn't good enough to make admiral

POW camp - I didn't get preferential treatment I swear!
reason for leaving - someone drew a cross in some dirt, or something... I forget which story I'm trying to peddle this week.

USNavy
Reason for leaving - I graduated... barely

One broken marriage
reason for leaving - she got crippled and I got bored.

Publications - a book about honor...but don't ask me about that or I will get mad and tell you to read my book.
significant contributions - Keating 5, infidelity
laws passed - McCain/Feingold (which I have just left in tatters)
scholarship - none

five year plan - stay rich and hope I don't die

References - George Bush

did I mention that I am an agent of change? Really, I am!


Posted by: ssergio | September 30, 2008 1:36 PM | Report abuse

Posted by: thecannula: Ummm, I hadn't lost any of my 401k until McCain swooped into town to save the day and a small group of republicans had their feelings hurt. Sorry, but I'm just not feeling that good about the damage it is doing to Joe Middle-Class.

I know that sounds short-sighted but the truth is it is Republican policies in general that got us here. Typically, republicans have led the charge for deregulation, they are pro-big business without the fetters.

Personally I think we need to find a balance between not letting capitalism go hog-wild and not over-regulating so we cannot compete.

Posted by: JRM2 | September 30, 2008 1:34 PM | Report abuse

zouk claims
"OK, factless void of moonbattery, here goes ... From Pollster.com:

OH: 48 Mccain 45.1 Obama
FL: 48.1 McCain 46 Obama
NH: tied at 46.2
NV 48.1 McCain 46.3 Obama
I can give you CO and NM and PA"


You forgot Iowa. If Obama takes Kerry plus IA, NM & CO, its game over. He doesn't need OH, FL, NH* or NV.

Posted by: bsimon1 | September 30, 2008 1:31 PM | Report abuse

I think Americans understand that a bailout is the only way forward. However, politicians have to create a bill that will insure Americans that we will not have bailouts in future. Since, financial and banking institutions are the main culprits in Gov. bailouts and campaign contributions are the main corrupting element in this instance, the bill should include stoppage of political contributions from all banking and financial institutions. It should also limit the size of these institutions, if possible.

Posted by: CoreyB2 | September 30, 2008 1:30 PM | Report abuse

Dear Seneca7 ,

Obama above the fray? Give me a break. He is MIA as usual on any important issue. What he does do is come out against "McCain and the failed policies of GWB over the past 8 years." Give me a break. This guy is SO predictable I can tell you what he is going to say before he does it.

Obama is AS GUILTY as onyone in this whole mess. The ONLY reason he isn't more guilty is that he VOTES PRESENT so often. Please someone ask Obama if he ever work to convince small community banks to give loans to low income people who couldn't qualify. This is one of the things he did at ACORN. Someone please ask him about ACORN. A "community organizer" group who engages in voter fraud, welfare abuse and subsidized housing abuses... Tony Rezko ring a bell????? Obama has been at this stuff for years and NO ONE calls him on it or NO ONE cares.

All anyone cares about is blaming everything on the GOP. Clinton forced reforms to give loans to people who couldn't afford housing or to make payments if they did get it. Banks listened and took advantage of the situation and made millions in bad loans. They sold off their paper and we get stuck with the bill... not only the bill but in our 401K, our home values, our retirement s savings.. our companies and jobs are at risk from the credit crunch... and ALL I hear is EVIL BUSH and McCain.

GROW UP and take a hard look at your candidate. I know I have for mine. He sin't perfect but vs. Obama if you are really honest who has a record of change and who has actually VOTED for it. Talk is cheap ... so what does that make Obama???

Posted by: tbastian | September 30, 2008 1:29 PM | Report abuse

If they really believe the bailout is necessary, the candidates need to help make the case for the bailout - and provide political cover for the Reps who are thinking about reelection.

Another round of stimulus is a bad idea. Getting the gov't back into being the mortgager of last resort is a good idea. Perhaps the most promising compromise could be to enact a limited Paulson plan - say bridge to the new Congress (& new President) with $100 billion. In addition, model a mortgage lender on the same program that performed the function in the 30s. In other words, help both wall & main streets.

Posted by: bsimon1 | September 30, 2008 1:26 PM | Report abuse

"If Obaby is such a leader why doesn't he get the 95 Dems who voted "no" to change their votes to "yes?" I guess Pelosi forgot his number so she couldn't call him.

Posted by: AugustWest1 | "
----
Because it's supposed to be a bi-partisan bill.

For the first six years when the Repugs had the majority Bush did not use the veto once.

In the past 1 1/2 years since the Dems took control Bush has used the veto 6 times and the Repugs have used the filibuster a record amount for that time period.

This is called "obstructionism" and is why Congress has such a low approval rating.

The Repugs are doing it again, only this time they are playing games with YOUR financial future.

Posted by: JRM2 | September 30, 2008 1:26 PM | Report abuse

lost 2k yesterday in my retirement and god knows how much in my daughters college savings plan while McCain plays footsie with politics.

Posted by: JRM2 | September 30, 2008 1:13 PM
?????????????

JRM2-

Thank your Democrat Legislators for resisting additional regulations in 2004-6- see McCain ad on Redstate.com AND soon on yout tv screen- But don't believe me...see ABC news for Bill Clinton's appearance on GM America last week.


Chris Cuomo, ABC News: "A little surprising for you to hear the Democrats saying, 'This came out of nowhere, this is all about the Republicans. We had nothing to do with this.' Nancy Pelosi saying it. She signed the '99 Gramm Bill. She knew what was going on with the SEC. They're all sophisticated people. Is that playing politics in this situat
President Clinton: "Well, maybe everybody does that a little bit. I think the responsibility the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac."

http://www.politico.com/playbook/

Posted by: thecannula | September 30, 2008 1:25 PM | Report abuse

Obama needs to do what he has done consistently for at least a year now: offer cogent, well-reasoned analysis of our dismal financial situation. He needs to remind voters that many months ago he presented a sound package of regulations that were designed to re-assert control over the irresponsible and dangerous Wall Street gamblers.

Obama also needs to stay away from any attempts to engage more directly in this Washington mess. McCain failed spectacularly with his parachute tactic. Obama needs to let the voters continue to contemplate the scary prospect of a McCain presidency with the erratic gambler-in-chief at the helm.

McCain, the man of action, has been revealed this month as (in order) a liar, a coward, a bumbler, an incompetant, a gambler, and a sneering liar again.

Obama needs to let McCain implode and stand out of the way of the icky goo.

Posted by: dee5 | September 30, 2008 1:25 PM | Report abuse

Being an Independent, I was undecided.
Now I have decided to vote for neither candidate after watching how both candidates performed in this bailout bill crisis. I think Senator McCain will have to depend on his economic advisers, which may not be such a bad idea. Senator Obama's performance since last week reminds me of his IL senate voting records, which were many "No vote". Why would I want to vote for a president that will take no position or leadership?
I think I will write in Ron Paul in November.

If our politicians in D.C. have principles, there is no crisis on Wall Street. Let the market get rid of the unfits and temporary market upset is nothing as long as you stay healthy. The market will bounce back in time, because humans always want to make money. Real estates will also bounce back, because population growth is expected, but the land doesn't grow with the population. Just watch. Doing nothing is better than signing this unbelievable bailout bill. It's high time for us to get rid of this non-productive sector of our economy.

Posted by: dummy4peace | September 30, 2008 1:24 PM | Report abuse

How much money has McCain lost during his lifetime as a result of his gambling addiction?

Why is he so "cozy with gambling interests?

Were debts "forgiven" in exchange for.....?

Remember Bill Bennett?
Mr. Virtues Has a Vice.

Posted by: bobnsri | September 30, 2008 1:24 PM | Report abuse

Maybe McCain should pretend to suspend his campaign again--because that worked so well before.

Posted by: drindl | September 30, 2008 1:23 PM | Report abuse

Resume: Barrack Hussain Obama

Position Desired: POTUS, I already have my own seal

Qualifications: I hope to change things

Job history:
Us Senate - two years
reason for leaving - bored

State Senate - three years
reason for leaving - to find myself

Law firm
Reason for leaving - didn't make partner

community organizer
reason for leaving - frustrated

Lecturer
reason for leaving - bored

Publications - none
significant contributions - none
laws passed - none
scholarship - none

five year plan - be rich and loved by adoring crowds

References - let me get back to you, they are all in hiding

did I mention that I don't look like the others?


Posted by: king_of_zouk | September 30, 2008 1:22 PM | Report abuse

Its All Over for Grumpy Old Ironsides!

Obama: At least 325 Electoral Votes

House: Democrats Pick Up 40-Seats

Senate: Democrats Pick Up 11-Seats

Posted by: bobnsri | September 30, 2008 1:20 PM | Report abuse

Obama needs to keep pushing his tax breaks for people making less than $250,000 a year and McCain's plans to boost corporate welfare with a tax cut.

If McCain goes negative then he's exposing himself to some rather embarrassing exposure. Like Obama getting into Harvard Law while McCain barely getting out of the Naval Academy. Or McCain cheating on his invalid wife. Or the Keating Five. McCain is simply too much at risk to play the attack game. He'll appear to be Rove's lap dog to many and will get burned from his "problems".

Posted by: KHMJr | September 30, 2008 1:18 PM | Report abuse

They could suggest a real solution to the problem rather than aid and abet Wall Street in fleecing the taxpayers. That might be a winner.
The problem with the bailout is that it addresses the wrong problem, liquidity. I think the central issue here is solvency which is not addressed in any of the solutions I've seen proffered. If confidence in the banking system (i.e. believing their fellow banks are actually insolvent) is the central issue here, how come we are not from learning the last great banking crisis of confidence, the Great Depression? How did they restore confidence? It certainly wasn't by papering over the issues with obscene amounts of money. It was through the Banking Relief Act of 1933. This act shut down the banks (Bank Holidays) for 4 days and had them open up the books to government inspectors in order to determine who was solvent and who wasn't. Those that were solvent were reopened with the Gov's seal of approval and those that weren't were addressed and disposed of. This is a comprehensive solution that directly addresses the root cause of the credit woes that involves minimal taxpayer dollars and has been historically vetted. All of these are aspects that the current plan cannot even come close to claiming.

I have yet to hear why this idea, which on its face, seems far superior to the current one, will not work or is not preferable. That is unless you are one of the insolvent institutions hoping that you can paper over your losses with taxpayer money.

Posted by: pimpinbenzo73 | September 30, 2008 1:18 PM | Report abuse

Obama should trick McCain into saying his name backwards so that he would be returned to his own dimension.

Posted by: pete1013 | September 30, 2008 1:17 PM | Report abuse

Hmm...What should McCain do? Tell the republicans to GET TO WORK, start negotiating and get the bill passed!

As for Obama, he should keep on keeping on!! Keep explaining what the bill is about and its importance. Keep explaining how we got here and how we'll get out of it. This Bill requires BOTH parties to take a hit and by golly Republican's need to step up to the plate.

Posted by: OK4obama | September 30, 2008 1:17 PM | Report abuse

"... that neither Obama nor McCain can do really do much to change the financial direction of the country..."
---
What a bunch of crap, putting policies in place to create jobs (renewable energy), cutting wasteful spending and having the Iraqis pay their way will go a long way towards reviving our economy.

Posted by: JRM2 | September 30, 2008 1:16 PM | Report abuse

"it's incontrovertible that the policies leading to this crisis were vintage Obama."

I don't think you know the meaning of the term "incontrovertible". If you did, you would have ended the sentence with "vintage Phil Gramm". As in, the Commodity Futures Modernization Act of 2000.

Posted by: ssergio | September 30, 2008 1:16 PM | Report abuse

I doubt this is the type of issue that going negative would really work. With people feeling immediate pain, going negative in a crisis looks unpresidential.

Of course, McCain has got to try anything that he isn't doing. Obama +6 on three polls today as well as a +2 on the GW/Battleground poll (which HEAVILY favors McCain).

Posted by: DDAWD | September 30, 2008 1:15 PM | Report abuse

They need to DUMP THE PAULSON PLAN.

Treasury is in bed with Wall Street CEO's. (There's an audio of a conference call that proves it.) The Paulson plan is a Trojan horse - a "bailout" for his friends and the country be damned - and no tinkering around the edges is going to make it acceptable much less helpful.

Oh yeah...and while they're at it, they should dump PAULSON, too. Maybe send him somewhere where he'll do something productive. Like making license plates.

Posted by: miraclestudies | September 30, 2008 1:14 PM | Report abuse

You gotta love the Liberal press. In two different lines Cillizza gives Obama credit for a Republican idea that his party rejected. And in one of those lines he manages to make it look like McCain took the idea from Obama!

Never trust one source - be it Fox News or the Washington Post - if you are interested in learning the truth about anything.

Posted by: pdqlmnop | September 30, 2008 1:14 PM | Report abuse

McCain has three options - win the election, go negative, or grandstand/showboat.

Since the first is not a viable option, we shall likely see one of the other two.

Posted by: bondjedi | September 30, 2008 1:14 PM | Report abuse

king_of_zouk - GREAT new McCain ad on Redstate does just what you're suggesting-

http://www.redstate.com/

Posted by: thecannula | September 30, 2008 1:14 PM | Report abuse

If our president would have put a decent bill together in the first place instead of a 3-page document (in character with his lazy approach towards work in general) then we may not be here still struggling to get this thing passed while the economy grinds to a halt.

I lost 2k yesterday in my retirement and god knows how much in my daughters college savings plan while McCain plays footsie with politics.

Posted by: JRM2 | September 30, 2008 1:13 PM | Report abuse

If Obaby is such a leader why doesn't he get the 95 Dems who voted "no" to change their votes to "yes?" I guess Pelosi forgot his number so she couldn't call him.

Posted by: AugustWest1 | September 30, 2008 1:10 PM | Report abuse


AVEINU McCAINU!

Posted by: thecannula | September 30, 2008 1:02 PM | Report abuse

Like Senator McCain, Senator Obama also failed in providing leadership for this economic crisis. He sort of supported the bailout, but that is not leadership. He should have opposed it strongly.

Subprime mortgage derivatives are worth nothing for the taxpayers to invest in. What we need is to buy all the foreclosed houses at the current market price and rent them out to current residents or anybody that pays rent.

I will forgive McCain for admitting not knowing economics, but I would have expected Obama to know some basics and have the courage to lead. I have nobody to vote for in November. Dr. Ron Paul or Mr. Lou Dobbs should fill in.

Posted by: dummy4peace | September 30, 2008 1:01 PM | Report abuse

Actually, KOZ makes a good point. This would seem to be a good opportunity for BHO to mend more fences with HRC's supporters. Not necessarily by letting her take over as KOZ suggests, but asking for her to be an important part of a summit or negotiating team to get a bailout/rescue plan worked out.

Of course, Pelosi and Reid might have other ideas about that.

McC's got to stop flopping around like a fish out of water and conceive a real strategy for his campaign rather than fight different battles every day.

Posted by: mnteng | September 30, 2008 1:00 PM | Report abuse

McCain's opportunity here is even richer when you consider that on this matter, despite his scant political record, Obama has very dirty hands. He cannot be allowed to pretend to have been a bystander when it's incontrovertible that the policies leading to this crisis were vintage Obama. The people who caused it are Obama's political allies and close friends.

McCain cannot sit idly by as Obama attempts to shift blame onto corporate America, capitalism itself, Republicans and the Bush administration. He can't allow the mindless mantra of moral equivalence ("each party shares equal responsibility") to stand: -- not that Obama would even consider that much of a concession.

McCain must take the gloves off -- as he did after Obama made the mistake of showing his nasty, haughty and condescending side in the first debate -- and place the blame for this mess squarely at the Democrats' and Obama's door.

As you've surely heard by now, much of the ammunition he needs is contained in a well-done YouTube video showing the congressional Republicans' efforts in 2004 to rein in Freddie and Fannie and the Democrats' thwarting of those efforts.

Watch the YouTube video and see Frank, Maxine Waters, Gregory Meeks, Lacy Clay and Franklin Raines himself denying there was a problem and bludgeoning Republicans and regulators for trying to solve it. In exchange, the Democrats' corrupt gravy train -- political contributions in exchange for CEO bonuses -- continued unabated.

After highlighting all of this and pinning the financial-crisis tail squarely on the "donkey," McCain must then proceed, unabashedly, to tie Obama to the Association of Community Organizations for Reform Now, Obama's socialist community organization of choice. McCain must detail ACORN's complicity in creating this crisis when it forced an epidemic of politically correct, but woefully un-creditworthy loans. And he must show how until the very end, unrepentant and unaccountable Democrats tried to funnel 20 percent of the originally proposed $700 billion of "bailout" money to ACORN and its cousins.

Time for some straight talk, senator. And please, don't hold back.


Posted by: king_of_zouk | September 30, 2008 12:59 PM | Report abuse

What has McCain got against the FDIC?

Posted by: walker1 | September 30, 2008 12:58 PM | Report abuse

Going negative.

The idea that the IN party should go negative on teh challengers is a Republican mantra.
The old idea was that the guys in power would claim that they had done a great job, while the outs would claim that they had done a lousy job.
Now, the Republicans don't defend their record, they claim that the challengers would do worse.

Posted by: F_L_Palmer | September 30, 2008 12:53 PM | Report abuse

The liberals have been marketing Barack Obama as the greatest orator of our times, but the public saw a different picture in the first presidential debate. Angry, perplexed and devoid of substance was the real Obama, whom the media could no longer hide.

By contrast, John McCain provided refreshing sincerity to Obama's incoherent subterfuges. McCain explained in simple language that only Republicans will limit the increase in government spending, defend national security and ensure that families rather than the federal government will control health care.

When asked how each candidate would specifically make up for money lost in the proposed bailout, McCain proposed a spending freeze with a few specific exceptions. "How about a spending freeze on everything but defense, veterans affairs and entitlement programs?" McCain offered.

Obama refused to accept this obvious solution to out-of-control federal spending. His response illustrated why Democratic presidential candidates have been criticized as tax-and-spend politicians.

"There are some programs that are very important that are under-funded. I want to increase early childhood education, and the notion that we should freeze that when there may be, for example, this Medicare subsidy doesn't make sense."

The only thing clear about Obama's incoherent statement is that he will continue to tax and spend exactly as the Democratic leadership has being doing for decades. McCain's position against more fiscal recklessness scored many points with the voters, who are tired and broke because of politicians wasting their money.

Given the weak state of the economy, all Obama had to do was to offer some reasonable plan and he would have come out ahead. But he couldn't muster even that.

More government control is not the kind of "change" that Americans want, particularly after politicians have so badly mishandled our financial condition. Can you imagine the hardship if hospitals were about to collapse like financial institutions?

American voters are not as easily fooled as Obama and his supporters seem to think. The more that voters hear what Obama has in mind for them, the more they will likely say, "No, thanks," to his repackaged proposals for more government control.

Obama's evasion of specifics and his use of repetitious platitudes made it painfully clear that he does not intend to reduce government control or cut government spending at all. "We have to fix our health care system," he declared, but his "fix" is just more government control and spending.

Obama's performance confirmed that he is full of bitter gripes about something. American voters are left scratching their heads and wondering about Obama's own candidacy: "Where's the beef?"

I wonder how long that test-crammed info will stick around in the messiahs head. there is now all this economics stuff to memorize and pretend like he knows something.

Posted by: king_of_zouk | September 30, 2008 12:52 PM | Report abuse

I think Obama should do what he is doing , running for president. Bush is the prez, McSenile is acting as if he already is prez.Just like Bush he has already screwed up doen of times. OBAMA/Biden 08
Connie from Indiana

Posted by: grams1944 | September 30, 2008 12:49 PM | Report abuse

I agree with all the points for Obama. I disagree that John McCain should go negative. The reason being--Americans are sick of the bickering and meaningless partisanship that has been displayed this past week or so. If McCain goes completely negative, he will look like a joke. It will look like he doesn't care about the country and the only thing he wants to do is win the election (which is what I think his sole desire is as well.)

Full disclosure--I am 150% in the tank for Obama. But if McCain is trying to win swing voters, going negative at this crucial point in our history will make him look like a complete opportunist that is ONLY concerned with winning the WH. (Which he made pretty clear last week with that campaign suspension crap.) Unfortunately for him, it looks like this election will be based on policies, intellect and leadership abilities and NOT on personality as he had hoped.

Obama/Biden '08

Posted by: DinahS | September 30, 2008 12:48 PM | Report abuse

Obama is wise to stay above the fray. He does NOT want to be seen as solidly supporting an unpopular president and an unpopular bill. I think his tone of calm and assurance is the right one, and the principles he outlined WERE made part of the now-failed bailout bill. He doesn't need to micromanage.

I don't think Obama should call a bipartisan summit--the last thing Americans need to do is listen to more talk about the financial crisis.

Obama should be prepared for McCain to go on the attack though. I'm expecting McCain to let loose with Willie Horton-like ads any day now. Scaring low-information, working-class white voters is McCain's only hope now. Especially since Palin is largely expected to reflect poorly on McCain in this Thursday's debate.

Posted by: Seneca7 | September 30, 2008 12:44 PM | Report abuse

The American people in poll after poll rejected the idea that taxpayers should "bailout" financial firms that made risky bets (they certainly didn't make "investments"). The bailout didn't fail yesterday, it was successfully opposed by the American people. And, Obama and McCain should stop trying to thwart the will of the people and should support the idea that failing firms should be allowed to fail.

Posted by: MarcoVincenzo | September 30, 2008 12:37 PM | Report abuse

Obama - do nothing??

you mean the same thing he has always done in life, CC?

Maybe he should simply admit he doesn't have a clue and let hillary take over.

Posted by: king_of_zouk | September 30, 2008 12:29 PM | Report abuse

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