Wednesday, September 24, 2008

The Republicans Call for a Bailout: McCain Does


I have been giggling away the afternoon over this latest news of McCain suspending his campaign.

What a maverick.

16 comments:

  1. If Mccain is too scared to debate Friday, he should let his pig off the leash and debate Obama. Palin has bigger nuts than Mccain does. Mccain knows nothing more than instilling fear in the American people, and then using it to his advantage. Although I seriously question his though processes on making this decision to bail out of the debates at a critical juncture when Americans have to wait two years to see it, and are givin only 40 days before the election to choose. What a whimp. Mccain is not a leader. He is a senile crumrudgeon.

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  2. Brett5:14 PM

    There is nothing more disgusting than the state of the US economy right now. Rather than helping with a resolution, Obama would rather continue down his "no show" philosophy of doing his job and continue the focus on him the celebrity, not him the Senator.

    Both of the useless candidates we have should suspend their campaigns and get back to the job they were elected to do. The lack of accountability is ridiculous and cause for great concern. As a parent, I fear the state of the Country left to my children, as a tax payer, I am frustrated with the redistribution of wealth from the commoners to the elite.

    It is time to say no to the politicals and take the Country back.

    No longer should we continue to vote for the lessor of two evils. We need to destroy the two party stronghold and vote by conscious and candidate track record.

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  3. Brett said = "We need to destroy the two party stronghold and vote by conscious and candidate track record."

    Wow Brett, you're a radical. Your vote would go to Nader then. My belief is grounded in reality. Obama's plan provides jobs here at home, jobs that can't be outsourced. He wants to rebuild our infrastructure and restore confidence in the American people for them to know that they will have food on the table the next day. This confidence level impacts the upper class - the people who providing consumerables to the consumers. WE, the Middle Class, run this country, not the upper class, which are the ones who caused this mess. They are pulling their money out and leaving this country heading to Beijing - where their new econimic base is. If you want to play with the politics of the past, then I suggest you start learning Mandarin, and move there with your Economic leaders, because real American heroes are going to take this country back with Obama's leadership. Mccain followers will cower sheepishly, and go ask Bush, Brnancke, Paulson, etc. what happened. We know what happened, and it's a problem that Bush has been sitting on since 2001. It's only now poltically convenient for him to pull this as a political stunt to make Mccain look like he is a leader to provide the illusion that he knows what he is doing. This is BS. The Middle Class is much smarter, and will marcg Obama directly into the Whitehouse.

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  4. Anonymous5:30 PM

    Most people forget McCain is really given up his advantage by not doing this the Debate on Friday. I see both men debate and for someone who says McCain he scare is crazy. You really need to do research you will find foreign policy debate is where McCain is very comfortable in and he been known to be a great debater in this area. It could be good Obama because this debate he would be at a disadvantage at. We’ll just have to see how this play out.

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  5. Why does Mccain always get to set the agenda!!??
    He wants to do townhall debates... but doesn't get a "yes" from Obama and says he is not a leader because he didn't do what Mccain asked.
    Now this!?
    Mccain asks him to go to Congress and forgoe the debates we've been waiting two years for to be delayed...
    Obama doesn't say "yes." Now Mccain is arguing yet again... Obama doesn't do what he says, so he is arguing that he is more of a leader than Obama on this issue.
    Do you see a pattern here folks? It means Mccain is playing politics with us and our future.
    Now he wants to go ask Bush what we should do. This is rediculous.
    I wish we could just put Obama into office right now, and turn this stupid nation around.

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  6. There is NO more important goal in this bad economy than to PICK the best PRESIDENT to lead us out of this bad economy.

    What McCain just did is BIZARRE and WEIRD. He is CRAZY.

    What? He cannot help the Senate AND run for President at the same time? He can't multitask? He can't run and chew gum at the same time?

    He is THAT OLD?

    This is like the quarterback refusing to enter the 4th Quarter of the Superbowl.

    McCain is CRAZY and does BIZARRE things. This is just one nail in his coffin. I hope the public realizes this and adds the other nails.

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  7. Anonymous9:47 PM

    Hypocrisy at it's best. Bush was criticized for not racing down to New Orleans following Katrina. It's been a few years and New Orleans has still not recovered. Now we have the most enormous threat to the national economy, and look how the 2 candidates respond. McCain suspends his campaign - no fundraising, no commercials - to assist in hammering out the solution. Obama prefers to spend the next few days prepping with his team for the debate. He indicates that he's available by phone if he could be helpful, but will continue his campaign and will be at the debate on Friday. If he's President, shouldn't he be leading efforts such as this, not just available if he can be of assistance? If we're heading into a Depression, as he stated, where are his priorities? On Barak Obama, as always. Not on the people of this country. I want a leader who digs in, NOT someone who's available by phone if he can be of assistance when we're facing issues such as Depression or Korea's nuclear efforts.

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  8. bandy9:50 PM

    Verney calls on Obama, CPD to include Barr
    September 24th, 2008 by Jason Pye

    Most of you have probably heard that Sen. John McCain is temporarily suspending his campaign and calling for a postponement of Friday night’s presidential debate so that he and Sen. Barack Obama can go to Washington and cast a vote to spend $1 trillion of your money bailing out Wall Street.

    The University of Mississippi, the host of the debate, and Sen. Obama are proceeding as scheduled. We here at Barr HQ are encouraging Sen. Obama to do just that, however, we are asking for a favor.

    Russ Verney has sent letter to both the Commission on President Debates (view letter:

    http://www.bobbarr2008.com/files/Debate%20Letter.pdf

    and the Obama campaign (view letter:

    http://www.bobbarr2008.com/files/Obama%20letter.pdf

    asking for Bob Barr to be included in Friday’s debate. In his letter to the CPD, Verney wrote that including Bob in the debate would allow them to proceed as planned and that “Congressman Barr’s participation will provide a substantive and vigorous debate of the issues facing our nation.”

    As Verney explained to Obama’s campaign, noting the Senator’s sympathy to third party candidate, the ball is in their court.

    “Senator Obama, you have the ability to demand fair and equitable treatment for a competitive, minority party candidate,” writes Verney.

    Now is the time to show leadership. As already noted, the ball is in Obama’s court. We have the opportunity to have a real discussion of the issues facing our nation.

    What do you say, Sen. Obama?

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  9. Just one question -- should I bend over BEFORE or AFTEr paying my portion of the $700 Billion?

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  10. Good for Obama. What is McCain going to do if he does become President and there are two (or more) things that demand his attention at once? Is he going to flake on one commitment to attend exclusively to another? I truly think this is an avoidance ploy because it's a low time in his campaign and the Republicans need to re-group and come up with more negative, mud-slinging bull-crap rather than defining themselves before going head-to-head with Obama in a debate.

    And I can't express how irritating it is to hear McCain say that he is suspending his campaign and setting "politics" aside so he can go back to Washington DC to work on the bill to bail out debt-laden multi-billion dollar corporations (btw, I'd appreciate some debt relief on my student loans, too, while they're at it)--what the heck does he think that is, if not politics???? When did politics (i.e., the conduct of government: the process by which groups of people make decisions) become a dirty word? Senators such as McCain and Obama get PAID to practice politics, that's their job, they're POLITICIANS!!! Hello?!?!

    Besides, I specifically set Friday evening aside to watch the debate. It's hard enough to get people engaged enough to turn off "reality" TV and pay attention to real events that actually impact their lives, and playing these little games may make it even more difficult... Or maybe that's what McCain's camp is banking on (?).

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  11. McCain, this is no time for a crash course in economics.

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  12. Ed C Tahlequah Oklahoma12:57 AM

    With years of neglect and irresponsibility after the deregulation of the banking industry Congress is being extorted into bailing out such a massive mistake that it could destabilize the entire American economy with an ultimate consequence where the value of the dollar could plummet into a peso.

    Within the past eight years the republican leadership of Congress removed regulations over the banking industry that were placed there after the Great Depression to prevent profiteering by huge oligopoly business sectors such as the banking industry, which we no know has undue control to influence over the credit industry of the world market.

    Once these regulations were successfully removed over the banking industry the door was open for white-collar organized crime to begin an operation of such magnitude that the world has never seen. We are but entering the wake of repercussions and consequence that irresponsible leadership has manifested from the decisions of the past two terms.

    Republicans love to tout getting government out of the peoples’ business and promote doing so by deregulation. But some of the most critical areas affecting the masses simply must be regulated so that the greed of a few can not absolutely devastate the future of the many where generations must serve as slaves until they rise up in revolution and over throw their oppressors.

    We have seen the deregulation of oil ultimately move the world away from any semblance of the gold standard and replaced it by the oil standard. Only a handful of oil barons can dictate the value of this commodity because they have been given this power through deregulation without tariffs.

    An unprecedented inflation will immediately follow inherently touching the price of everything because of transportation costs. Coupled with the greed that historically begins in such a feeding frenzy the economy is headed toward the tank.

    This time there is an even more significant time bomb ticking because of the deregulation of the banking industry. Under the Bush administration credit has become the largest business in America of which the republican leadership removed virtually all governmental oversight. Bush also took America from a $4.6 TRILLION debt to over $12 TRILLION not counting the cost of getting out of Iraq and the final cost of all upcoming bailouts.

    For at least four years the administration has gone overboard to keep a false economy going. They have promoted rock bottom interest rates long after rates should have risen to slow down the inflationary prices within the housing industry and prevent a massive bubble of inflated houses from being purchased. This bubble will always bust and when it does the economy will slow down. But it is the check and balance over exaggerated housing costs. Today a person can buy three homes in the Midwest for the money it takes for an average price house in many places like California or Florida. This is run away inflation.

    During the last eight years the banking industry was deregulated by a republican controlled White House and Congress. Opening the back door to the banks fueled the already overextended period of an excited housing market until trillions of dollars in mortgages were originated.

    Many unscrupulous people rushed into the mortgage lending business to make the quick buck where they could charge points on both the front and back of loans. An example is where an originator charges a point on the front and two on the back of a loan which usually doesn’t have to be disclosed. On a million dollar loan that person makes $30,000. It is often easier to get approved than a $100,000 loan where they might only make $3,000.

    Profiteering immediately began by an unregulated industry through a multitude of creative financing schemes designed by lending institutions to bait homeowners into their web of debt deception. One of the best known is the Adjustable Rate Mortgage where payments on a loan begin based on a lower interest rate but several years later graduate up to a higher rate that is based on the Prime Interest Rate. This allows a family to qualify for more house than they could at a fixed rate or to have lower payments initially. But when fixed interest rates are at 6% and under historic lows there is absolutely no reason for anyone to fall for this kind of deception unless they are being led into it by a mortgage originator or the people are being greedy and trying to live beyond their means. Either should be a violation of law where the mortgage company is at fault for letting the loan through. Now we are left to bail out these lending predators so that the American economy does not crash.

    Let me make my position perfectly clear. I want a bunch of people who were responsible for creating this mess to go to jail for a very long time and I don’t want any of them to be returned to Congress!

    So let’s look at the list of culprits who need to be investigated, prosecuted and incarcerated if the American taxpayers must now bail out what can be called nothing less than an act of white-collar crime that could never have happened under the system in place only ten years ago.

    First we must look at the elected officials who promoted this deregulation of the credit industry. Let’s see which of our Washington leaders served best the banking lobbyist while violating their oath of office and fiduciary duty with which the American voters entrusted them?

    If an elected official that is running right now participated in this fiasco then they must be exposed and replaced in the upcoming election!

    Note to the media: We need this information out in the public ASAP so American voters can make an informed decision at the polls.

    Second, who were these powerful lobbyists and how were they able to perpetrate such a crime without being detected before the dam is about to break? Whose influence did they buy and how much money was paid for the influence of elected officials on Capitol Hill?

    Third, what specific changes were made that allowed such a closely regulated industry to take our economy to the brink of disaster while at the same time making unprecedented profits?

    Fourth, who were the Professionals within these huge banking investment conglomerates that perpetrated such a failure mechanism within the industry they were supposed to know best? Shouldn’t the government immediately seize all of their assets until an investigation of such a historical case of fraud is reconciled?

    Fifth, if the government is going to bail out the non-conforming loans originated by these institutions that were never intended to have federal insurance, it creates a value in that paper that was never expected. After becoming federally insured by Fannie Mae or Freddie Mac this paper is worth ten times what it was about to be worth in a bankruptcy. Shouldn’t the taxpayer share in the massive amount of profit once these investments reach solid ground since we are being forced to bail out their sinking boat?

    Sixth, how many members of Congress have even read, much less can discuss, the Legislative Act for this bailout? If these leaders are not attentive to something so massive that only our Great Great Grandchildren can pay, then they need to be voted out in the upcoming election.

    My point is that many Congress members have clearly demonstrated that once elected they quickly lose any sense of responsibility or conscience for the representation of their constituents. For a democracy to truly work, voters simply must have a report card that provides them a clear picture of the voting record of an incumbent. Then a voter can compare the promises made by the challengers who hope to dethrone those who have had their opportunity to show their dedication as public servants.

    Even with all of the potential within the information age, the media continues to fail the American people simply by not presenting all of the facts as they are.

    The Republican Party has gained control over both TV and radio where their agenda is to brainwash the American people. Their organized oppression of the middle class and poor through this carefully controlled method must be exposed at all costs or the dreams this country promises are forever doomed.

    Over the past decade the republican machine has used a military tactic from WW II known as Tokyo Rose, where a soothing woman’s was voice used over the radio airwaves infiltrating our troops in an attempt to break their spirit.

    Republicans have pumped propaganda into the minds of the masses using people like Rush Limbaugh targeting the blue collar sector while Jerry Faldwell, Pat Robertson and other religious affiliates have been used to target the Bible belt.

    They have distorted the facts confusing listeners by reframing issues so that the focus of a debate is conveniently redirected to something totally different. Often they have created moral issues to redirect the attention of the American public to something totally away from an important issue that was under debate so the listener is left more informed about the new issue than the original one that will ultimately affect him. This ruthless and calculated method of brainwashing has been effective and has motivated long standing democrats to change parties. Many others, who have been successfully confused by these tactics, end up voting against the very people who would actually represent them the foremost on the issues they hold most dear.

    In my fifty five years on this earth and thirty years of attention to political folly I have yet to witness anything in the history of this country that rivals what is happening in America today.

    The greatest country in the world is being corrupted by only 1% who now own and control 90% of the wealth. Through their scam dreams and hopes of our grandchildren have been mortgaged beyond any chance of us repaying this travesty within our lifetime. The irresponsibility and greed of a few are destroying any opportunity for liberty and freedom for the many. The middle class and poor have been placed into shackles of bondage to retire a debt as but slaves to the creditors if the world who helped the few to commit this act of financial folly.

    To further complicate things in addition to the deregulation of the credit industry and mortgages, over the past eight years our leaders also enacted a virtual insurance policy for the credit card companies who are an industry larger than Wal Mart, McDonalds and Microsoft. Now while these loan sharks continue to charge customers exorbitant interest rates some exceeding 30% Congress made it almost impossible to dismiss that debt through bankruptcy. One can still lose their shelter and transportation to work but they will find it difficult to rid themselves of the radical interest and credit card debt that often was the catalyst causing bankruptcy.

    Congress made it where credit card companies can now sell bad debt paper to collectors who will pursue these people to the end and now those collectors have a much better chance of finally collecting the debt so that the credit card companies do not have to discount their bad debt paper so low. However credit card companies, whose risk has been significantly reduced, have no regulation over the exorbitant interest rates they can charge or of the methods they use to determine rates, leaving customers at the mercy of one of the most ruthless industries in the world.

    George W. Bush and his control of a Congressional republican majority will undoubtedly be remembered as the most devastating period in this Country’s history where political fascism destroyed “The American Dream and The Freedoms We Hold Dear.”, Now what is in serious peril is our memories of a better time before Americans were oppressed into submission like abroad where our forefathers fought and died to set those free from ruthless dictatorships. The American dream, like the all powerful dollar, is in danger of being dissolved like dust in the wind if we fail to rise up against the greedy and power hungry big businesses taking over our world.

    This is the fundamental reason why the Founding Fathers provided within the First Amendment of our Constitution a protector over of our liberties by creating Freedom of the Press.

    Yet they could not foresee an information age where people are so busy in their own little lives that they don’t care enough to learn. Nor could they envision that the Republican Party could become so corrupted and powerful to buy control of most TV and Radio News so Americans could be sold a Bill of Goods without conscience.

    I think this is probably why most reporters and journalists vote Democrat. They actually know what deception and fraud is being perpetrated on the American people. But their bosses prevent them from reporting the truth. This is the time for Patriots within the news to get to the facts and get those facts out. Otherwise they need to find another place to tout their worth.

    I’m sick and tired of being jerked around by the most ignorant and corrupt President I could ever imagine getting into the White House!!! I am tired of the continued cover up of such mismanagement and corruption that has gotten us to a point of crisis that dwarfs anything in the history of this country.

    It is time to investigate who is causing these disasters! Reporters please do not take thank you or no comment for an answer! I want the facts and I want accountability with the high paid professionals who were hired to keep these institutions portfolios safe and in secure to investors. If they did not do their job this is not a bad business decision. It is deception and fraud and these professionals must be investigated and prosecuted when found to be negligent or involved in criminal activity. I want to see some high paid professional hides hanging throughout the Halls of Congress!!!

    I want to see someone in the news make their mark in history by some genuine investigative reporting that exposes the interaction of both Bush and Cheney with these Big Businesses so it is clear how these two crooks helped line their own pockets at an extreme expense to the American taxpayer.

    This tragedy did not happen overnight. I have been watching it get nearer for the past several years. It’s time to see who will expose these big business white-collar crooks and take down this circuit of organized crime. Send the crooks who are stealing Our American Dream to prison!!!

    Congressman Conyers the American people want a Congressional Investigation into the Bush Administration and we want some evidence about how this condition suddenly exploded into such an economic meltdown that could cost us everything many of us have work our entire life for…. The republicans have played ignorant Americans just like a fiddle. Bush and Cheney needs to be held criminally liable with no hope of immunity from prosecution.

    This is worse that anything even their scum bag NIXON did!!! It should be obvious to all by now…. that the republican gimmick of promising tax cuts and delivering exploding debt while only the rich see those tax cuts…. just won’t work. The republican controlled Legislature has created more debt than this country has ever seen in just eight short years!!!! This is going to be worse than the Great Depression where only a responsible Democrat could possibly lead us out.

    It’s time for the republicans who stole the 2000 election to be held liable. They helped to plug into the White House an absolute idiot, who was little more than a drunk, a drug addict and a spoiled rotten, life failure out of an oil baron family that covered his every stupid and illegal mistake. It should not take much effort to expose the evidence of this whopper and have both Bush and Cheney behind bars, charged with a list of crimes as massive as the unconscionable amount of debt they have created. Just start with conspiracy against America to begin with and hold them responsible for CRIMES AGAINST AMERICA!!! Then we can name them in their individual capacity and rip every dime they and their families will ever have away to help repay this nightmare….

    I think we could guarantee that whoever the reporter is who busts this story out might have a statue on the Washington Mall to Memorializes the power of the media to keep government honest and the First Amendment that protects that power that our Founding Fathers’ knew could protect America even against fascism and despotism 232 years later!

    Ed C. Tahlequah, OK

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  13. The Real Issues1:36 AM

    The Real Issue ladies and gentlemen is Senator McCain wants to look like he is going to handle the problem, but it will backfire. McCain was and is an architect of the Trickle Down Voodoo Economic philosophy of top down. This does not work in a global society and the Republicans don't get it, simply put. McCain voted with this 90-95% of the time my fellow Americans and we must not succomb to political posturing which is being accomplished by Senator McCain. Look at the record, ladies and gentlemen and then vote for the candidate based solely on the issues!!!

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  14. Brett2:49 PM

    Dan,

    If you think Obama is going to do anything good for the economy, you are out of your mind. He is for taxing small business and corporations. This will drive comapnies to look for homes elsewhere, hence, eliminating jobs. He is for taxing indivual taz filers in excess of $250k. I am not in this bracket but what happened to America where you can make something out of nothing. In turn, he is going to take the money gained from these revenues and put it towards an $80b grow government bond. This is not the purpose of our tax dollars to be spent towards growing governmnet.

    Oh and the $1,000 credit extended to each filer above and beyond the Bush era tax cuts that Obama is offering is plain bribery for a vote.

    I do not know which is more pitiful, the fact that he thinks this will work or the fact that people like you are falling in line.

    Rise up real Americans! Take the power away from the Democrats and Republicans. Vote for the best candidate in every election. It could be someone from any party.

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  15. Rise up! Chip in and get Brett a quality education and a solid grounding in english!!
    A mind is a terrible thing to waste.

    Rest now Brett you have surely hurt yourself.

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  16. American voters..vote wisely!

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