Political Punch

I heard Nancy on the NPR news last evening and she was using it as an advertisement for Obama.....stating that he was the one that corrected the wrong and got this thing through congress. It's amazing how unfortunate things become some peoples praise. So- how much of this procurement is really a push to democratic presidency. Obama needs to win this on his own.

Pelosi is a hardcore leftist and misses the whole point. It was a landslide of e-mails and phone calls to representatives that made the difference. Her screeching and bitter voice had nothing to do with it.

Sorry- last post got cut off. Those are from an economist posted on CNN.

There ARE other options. Contact your congressperson.

DO NOT LET THE FOXES INTO THE HEN HOUSE AGAIN!!!

Among the steps that the government could undertake are:

* Suspend so-called mark-to-market accounting rules, which during the past year have required financial firms to write down more than $500 billion in losses.
* Change federal requirements that force banks to keep a certain level of cash on hand for every dollar they lend out.
* Give banks the chance to exchange loan notes for notes from the Federal Deposit Insurance Corp. As a government agency, the FDIC's notes would be more valuable than the banks' notes, allowing the banks more flexibility to make loans.
* Purchase on a massive scale mortgage-backed securities issued by finance giants Fannie Mae and Freddie Mac. The Bush plan calls for the Treasury to buy a broader range of mortgage-backed securities.
* Extend limits on short sales of financial sector stocks.
* Cut the fed funds rate - the Federal Reserve's target for short-term lending - perhaps all the way to zero, or in coordination with rate cuts by other central banks around the globe.

RE: "Blount steps away from claim" is proof he has learned what many on the ranch down here in Texas learn. When you step in it, step away. Otherwise it smells something fierce.

Let them go bankrupt, restructure and revitalize their balance sheet. Giving them more money to throw away, does nothing except ROB wealth from the mid to lower class. In one month's time what say we vote these bums OUT!!!

Some clarification: the CRA has been around since the 70's and did not create this crisis and with responsible lending, the repayment rate for CRA loans is actually historically higher than others. Most of these subprime loans were not done under the CRA nor were they done under Freddie / Fannie or they would have been better regulated. The very reason they are called subprime is that they are not within the standard lending conditions set by F/F regulations (ie: Prime). With so much money flooding into the system, competition drove interest down which hurt bank profits. So banks came up with all these exotic structures which a flow chart of funds flows that look like an exploded can of silly string! They got into all this to make lots of money and the more crazy the lending scheme the higher the fees and interest. These option ARM's are a nightmare and why anyone would give them or take them is beyond me but this is not just poor people, subprime is also lots of middle and high class people who wanted bigger and better houses and these crazy mortgages let them have it. I mean the averagea square foot of new homes has ramped up significantly over recent years and all this is why. F/F got caught up in this and have accounting problems that should have been more closely tracked but to complain that the Dems held all this back when the GOP had clear majorities is just nonsense. There is plenty of blame to go around for all (exept me of course).

Frank & Dodd should be investigated and indicted if found implicated in the RICO scheme that FanFred devolved into, thanks to Carter & Clinton's little CRA social engineering experiment.

Also, as usual, The Golden One is being non-investigated even though he was the second largest recipient of FanFred political donations in only three years in politics.

Anybody smell something, and it's larger than a rat?

Democrats also voted against this deal. Somehow, in pundit discussions, Pelosi drove some willing Republicans away. I doubt that but that's the way it is, one sided discussions as if the voters have no brains.

Why should the taxpaper pay for recklessness by Wall Street and other players in the financial game? They have pocketed profits already but the government will take up even more debt.
Many voters are against this bailout. What's next?

Since when do Congresspeople listen to the speeches of their colleagues?

Posted by: Anonny |
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They can't hear if they are not present. Not many are present when there is a speaker. When I had a job it was a requirement that I be present. A house cleaning is needed. Pelosi, Reed and Franks should be first to go.

Since when do Congresspeople listen to the speeches of their colleagues?

"But, during the last 8 yrs Republicans did nothing to change or ameliorate or deal with any problems, unless you count the whole Terry Schiavo, gay marriage and other such idiotic wedge issues."

A holiday is more important than our survival? If you have lots of money..who cares. As the days go by we the $ amount will probably increase, how much will they ask for next time and how many secrets will be included....like maybe try ACORN again. A house cleaning is needed.

The argument is idiotic. First, the main problem affecting credit is the fact that after making these loans, companies bundled and sold them as a package, with a good credit rating to others, who understood little of the risk they were buying. Once the loans fell through, ppl lost money. That at least, is a very simplistic run down of this crisis. However, it points to one thing in particular. The problem is systemic, and does not relate solely to housing loans.

Ahem, to those that continue to argue that this is all the democrats fault, um, who was in power, in the executive branch for the last 8 years? Oh, a republican...and who was in power in the House and Senate for 6 of the last 8 yrs? republicans. Oh. And who fought with the administration for the right to go after predatory lenders? Governors in NY and other states. So, if we want to be objective, did the dems screw up by pushing for low income housing loans? Yes. But, during the last 8 yrs Republicans did nothing to change or ameliorate or deal with any problems, unless you count the whole Terry Schiavo, gay marriage and other such idiotic wedge issues.

another recent article regarding Fannie/Freddie for people that HONESTLY WANT THE REAL ANSWERS NOT THE MSM ANSWERS. What I find amusing is they seem to complain "the market has hurt their ability to give low income people home loans but they should be able to give more when the market recovers"

Do these idiots not realize GIVING LOANS TO PEOPLE THAT COULDNT AFFORD THEM GOT US HERE IN THE FIRST PLACE. I love how "social justice" is apparently more important than a successful economy even in the face of a collapse.

The Democrats and Republicans are both equally responsible.
The poor and rich (and middle class) are are equally responsible.
This bailout will only lead to the next bailout.
The economy crashing is going to hurt us all- there is no way around it. We are in a deep pit, three decades in the making. We are ALL guilty of greed- cars bigger then we need, houses bigger then we need, more in credit then we can afford.
But we have GOT to stop digging this pit. Let things fall as they will- then strengthen the companies that WERE doing the right thing. And start the rebuild process.

I agree this might look petty, but there's a fundamental problem with what Pelosi said: it proves Democrats have not learned anything from Fannie Mae and Freddie Mac. Some Republicans may have been persuaded that the bill was in the best interest of the country, but when Pelosi went so bitterly partisan, it should have been clear to them that the bailout bill was going to create an even greater moral hazard than Fannie & Freddie.

Both parties are to blame for what is happening in the markets. Only one party knows it.

Yep len. The american people sure can be stupid sometimes. People like barney are right in the middle of this situation and yet accuse republicans. I don't understand why the republicans arent calling out Barney, Dodd, Obama Kerry and Clinton regarding contributions and killing regulation of Fannie/Freddie and the REAL role of Fannie/Freddie in this problem.