In My Inbox Just Minutes After the Bailout Bill Went Down

I am certain Senator McCain won't make the same mistake twice. He would have brought more Republican votes to the event if he had known Pelosi couldn't get more than 60% of the dems

Assuming that she was showing anything like leadership was a mistake

Oops

McCain says that it isn't time for the blame game and then blames Obama for the bail out failure. I guess Barack was supposed to be working the Republican caucus for votes while the McCains and Sanctimonious Joe dined at the Mandarin Oriental Hotel.

McCain may has lost his bearings but his "chutzpah" is fully intact.

The Republican House just put the final nail in the coffin of Reaganomics and Trickle Down Capitalism. Additionally,
they have given the Dems a green light to construct and pass a bill that will be their worst nightmare.

Hats Off to the 'deregulators'!

rut-ro

McCain and the republican machine. Open hood remove monkey wrench.

This crisis is only a warm-up for the social security crash which is directly ahead of us. As we all know it's totally underfunded but all the politicians are looking the other way and we the people of this country continue to allow them to get away with it.

Zaggs: Doesn't look like either side listened to McCain much and that doesn't bode well for a President whose trademark is supposed to be action. He didn't get anthing done, he messed what was accomplished, had a five-star dinner, and then rushed away on his provate family jet. I would love to see where the McCain's have their assets in this "sound economy" that is going to bury the rest of us.

Mike: Amen. I was told by my congressman today that the problem was that there was too much government regulation.

McCain could not deliver his side of the aisle. Plain and simple. A failure to deliver after grandstanding about coming to DC to fix the problem. Some leadership skills he displayed.

I WOULD LIKE TO POINT OUT TO THE PEOPLE WHAT REALY STARTED THIS PROBLEM.AND ALL I ASK IS YOU THINK ABOUT THIS CAREFULY,AND TAKE A LOOK AT THE STATICS FOR BEFORE OUR WORK FORCE WAS SOLD OUT(THIS BY THE WAY WAS AMERICAS BEST SECRET WAS IT NOT)NAFTA.NO FIRST OF ALL A COUNTRY THAT DOES NOT PRODUCE FOR ITS SELF.DOES NOT SERVIVE.WE NEED TO MAKE OUR EMPLOYEES (POLITIONS).RECORDS WILL PROVE UNEMPLOYMENT,WALFARE,WARS.ANY WAY I THINK YOU ARE SMARTER THEN.THE POLITIONS THINK WE ARE.WE NEED TO START CLASS ACTION LAW SUITS OF TREASON FOR SELL US OUT. THE AMERICAN PEOPLE USING THEIR(POLITIONS/LAYWERS)SNAKE AGAINST THEM.LET WE THE PEOPLE USE THE TEETH OF THEIR SNAKE.WE NEED OUR COMPANYS BACK IN AMERICA,DID WE NOT HELP BUILD THEM.THE ONLY LAW THAT IS NEEDED IS THIS.IF ANY COMPANY WANTS ANY AMERICAN CONSUMER THEN IT WILL BE BUILT IN AMERCA,BY AMERICAN HANDS.AND FURTHER MORE.WE THE PEOPLE WILL NOT GIVE YOU TAX BRAKES OR ANY GIVE AWAY TO ENTISE YOU TO COME.YOU WILL MOVE BACK OR YOU(COMPANYS)WILL NOT GET THE CONSUMER OF THIS GREAT COUNTRY.NOW FOLLOW THIS WE AS A COUNTRY CAN NOT BREAK OTHER COUNTRYS.SO EVERY COMPANY WILL HAVE TO BUILD ALL OVER THE WORLD.AND COMPANYS STILL GET RICH.NO IMPORTS AT ALL FOR AT LEAST 20 YRS.WE THE CONSUMERS,TAX PAYERS,VOTERS HAVE THE POWER ESPECAULY NOW.THE SNAKE IS COILED LETS USE IT ON ITS HANDLERS.THEY ALL MADE THE LAWS THAT THE SNAKE CAME FROM NOW NOW.I FEAR FOR MY GRAND CHILDRENS LIVES.LETS DO THIS AND SHOW ALL OTHER COUNTRYS.WHAT OUR FORE FATHERS DIED FOR.WE NOW HAVE THE MEANS TO DO THIS PEACABLY AND WITH THE LAWS OF THE PAST.BEFORE THEY CHANGED IT ON US.THEY HAVE DONE ENOUGH DAMAGE DONT WE THINK.

Mike, I agree that lenders "pushing" (forcing is a bit of an overstatement) flexible mortgage rates on home buyers is the main culprit. But I disagree with your comment that this crisis would never have happened had government deregulated the industry (which I wish they had). It was only a matter of time that the housing boom had to correct itself. With fixed mortgage rates the banks would have been forced to just sit out the correction. And there would not have been the hundreds of thousands of foreclosures. But with all of these flexible mortgage rates, as soon as the value of the home became less than the balance of the mortgage, the banks would still have raised the mortgage rates, with mortgage payments still doubling or tripling. Even individuals with great credit found it difficult to make those skyrocketed payments. And that would have been no different had the industry been deregulated.

Foreclosure, one day the history books will show that it was President Bush's domestic policies that got us through the various hits that our economy took during his first 7 1/2 years in office--at least up to the current financial crisis. We will have to wait to see how that plays out.

The 2001 Bush tax cuts turned around the 2000-01 recession. The combination of the 2001 and 2003 Bush tax cuts greatly diminished the effect that 9/11 and the corporate scandals had on our economy. Then we actually had 52 consecutive months of job growth (September 2003 through December 2007). It was the effects of the triple whammy of the slumping housing market, the subprime mortgage crisis and skyrocketing energy prices that caused the downturn in the economy. YET in spite of these latest hits to the economy, GDP actually grew the first two quarters of 2008: 0.9% growth in the 1st quarter and 2.8% growth in the 2nd quarter.

Now we have a real crisis on our hands. Government interference in the free market, lack of Congressional oversight, greed and possibly even some criminal activity have made a serious situation even worse.

I don't know if the $700 billion rescue plan was the best plan. I think I would have preferred that the federal government guarantee the securities by purchasing insurance which would cost an estimated $50 billion. But the difference in that is the $50 billion plan would have cost $50 billion. The other plan could possibly end up resulting in some profits (depending upon how long before real estate values rise again). But either way, with the prices of homes now down considerably, there are millions of buyers almost ready to jump back into the housing market. But now there are no loans available. We need to free up the money quickly. And when that happens the federal government should offer incentives for individuals to purchase foreclosed and properties that are purchased (or insured) by the federal government, with agreements to live in the homes for at least 5 years.

FIRST I WANT TO THANK ALL OF YOU FOR SEEING GARBAGE AND A SCAM.SECOND IWOULD LIKE TO POINT OUT ALL POLITIONS GO TO COLLAGE TO BE WHAT,A LAWYER.LETS BRAKE DOWN WHAT A LAWYER DOES TO MAKE A LIVING. 1-THEY LIVE OFF OTHER PEOPLES PAIN.LOOK AT OUR COUNTRY.2 THEY LIVE OFF OTHER PEOPLES SUFFERING.LOOK AT OUR COUNTRY.3 THEY LIVE OFF OTHER SICKNESS.LOOK AT OUR COUNTRY.4 THEY LIVE OFF OTHERS PEOPLES INJURYS.LOOK AT OUR COUNTRY.5 AND THIS IS ONE OF THE BIGGEST MONEY MAKERS FOR THEM.OTHER PEOPLES DEATH WEATHER IN THE FORCES OR NOT.NOW I COULD GO ON, BUT LET ME ASK YOU THIS.CAN WE EXPECT ANYTHING ELES OUT OF OUR POLITIONS (LAWYERS ARE THE NOT.)HERE IS THE SOULITION TREASON CHARGES.THE OLD LAWS WILL PROBLE BE BEST.BECAUSE OUR FORFATHERS DID LET THE BIBLE GUIDE THEM.AND WHO DO YOU THINK IS GUIDING TODAY? PLEASE THINK ABOUT IT.HERE IS ANOTHER THOUGHT WE DO NOT NOT I SAY NEED ANY MORE THEN 50 POLITIONS FOR 50 STATES.THIS IS THE 20TH CENTRY IS IT NOT.NOW OUR GOVERNMENT IS GIVING PEOPLE FROM OTHER COUNTRYS.WHY ARE WE NOT GIVEN I MEAN THE(TAXPAYER,VOTER,AMERCAN).FOR VOTING ON EVERYTHING AND TAKE THE POWER AWAY.THIS WILL STOP ALL WASTED MONEY,THIS WILL STOP BAIL OUTS,THIS WILL STOP POCKET FILLING,THIS WILL STOP ANYTHING WE AS AWHOLE.WE ALSO HAVE TO TAKE ALL INSURANCE OF ANY KIND AWAY FROM ALL TAX PAID WORKERS AND DARE I SAY TELL UNIONS THAT WE THE PEOPLE SHOULD GET BEFORE EMPLOYEES.DO I SOUND LIKE A NUT ,OR DOES THIS LOOK LIKE A GO LAW TO FORCE ON POLITIONS.AND PUT THEM ON NOTICE THAT THEY WILL BE DOWN SIZED.BECAUSE WE THE PEOPLE ARE TAKING OUR RIGHTS BACK.

'Scuse me, that should have been "had the government not deregulated".

James Danley is living in a fantasy world where Wall Street is run by Mother Teresa and the federal government is run by Robin Hood.

In our real world Wall Street is run by Machievelli and the federal government is run by the Sheriff of Nottingham.

This crisis was precipitated by lenders forcing (often by deception) onerous terms on borrowers, many of whom actually had good enough credit to get better rates but not enough cash on hand to get a lawyer.

The crisis never would have happened had government deregulated the industry back in 1999.

Reminds me of when Bush Sr. failed to get NAFTA through congress, after which the ruling class put their weight behind Clinton.

What an ostrich and the Republicans have in common? Let me guess!
An ostrich bury its head in the sand and pretend everything is fine.
Republicans do the same and follow McCain!
I don’t have any problem in characterizing McCain .He is a Republican!
According to his own campaign, Republicans are corrupt and incompetent.
Obviously he has inside information!

Langs, the housing market is cyclical. When the prices go too high, people stop buying. So the prices go down. Eventually the prices level off and buying starts back up. And the prices rise again. It is simple Economics 101.

No one is to blame for that. That is the free market working exactly the way it is supposed to!

The current crisis, however, was due to too much government interference in the free market. The federal government pressured the banks to lend to individuals with low incomes--regardless of whether they could afford to pay the mortgage or not. If the banks didn't give the loans they were subject to stiff penalties. To compound the crisis, these banks pushed flexible mortgage rates on these individuals. THAT is the real culprit in this crisis.

When prices got too high and the free market began to correct itself, the values of the homes dropped well below the balance on the mortgages. With fixed mortgage rates, the banks would have been forced to just ride out the correction. But instead, the flexible mortgage rates allowed the banks to jack up the mortgage rates. In many cases the homeowners saw their mortgage payments double and even triple. THAT resulted in hundreds of thousands of home foreclosures and left the banks hanging out to dry (so to speak).

While the Republicans are not blameless, the fact is that most of the blame is on the Democrats. Check out the article by the Investor's Business Daily (posted Sept 15, 2008). It explains it very well. Google it!

"How many leaders did Obama meet with? None."

So his presence at the meeting with Bush and Senate leadership was a mirage?

"McCain met with all a few times."

Met with who and when?

Was that after his interview with Couric? Or perhaps before his dinner date with Lieberman?

McCain arrived in DC Thurs morn and returned to his home after the Bush meeting.

"After the White House meeting and the Friday night debate, McCain decided against attending a bipartisan meeting of some senators."

"yes he made phone calls but unlike your messiah he called those people on the other side of the aisle, Obama only called democrats (as Reuters reported and contrary to Barry's own words)."

"Each candidate, when asked, released a list of names of administration and congressional officials they contacted over the weekend. Neither list included members of the other party."

The results speak for themselves.

Heckuva job, McCainy!

whats wrong with the republicans ?

They claim its because of Palosi's speach...

They did like her speach so they kill the economy!!!

Thats smart! Like McCain claiming credit for it passing! LOL

Im pulling out my money and putting it under my bed!