Political Punch

These firms that have supported Mr. McCain with campaign donations for decades now need to be bailed out??? Why is John McCain's hypocrisy so evident? Does he think he is smart, or we are stupid?

Palin's fiscal skills:

As mayor put her town deep
in hock to the tune of
22 million dollars.

Her ethics or lack thereof:

Currently under investigation
for ethics violations and
abuse of power as governor.
Doing her level best to block
the probe after first promising
full cooperation.

interested folks might want to ask themselves too why a fannie mae or freddie mac ever had to be invented to begin with?

thats because the republican game plan of corporate profits and big businesses first/everything else is insignificant of the last 50 years(since nixon) has made it NEXT TO IMPOSSIBLE FOR THE WORKING PERSON TO SAVE ENOUGH TO BUY A HOME W/ 20% DOWN WHILE THEY ARE TRYING TO JUST SURVIVE!!!!!!!!!!!!!!!!

dont blame the democrats for at least trying to give the little guy in the picture at least a chance to get something he probably could never get any other way. especially considering the fact he is having to compete daily with illegal aliens the government is hauling in day to day under the guise of a quaint and non alarming sounding "guest worker" program.another republican gem pos legislation that sticks it to the american worker while rewarding almost inconceivably unethical business behavior.

opps last comment was @ DBL

yes JEM ,we know that those 2 democrats you named caused ALL these current financial sector problems, never mind that the republicans have had total majority control (ie;ability to pass whatever fatcat appeasing legislation they want regardless of democratic opposition) of the senate , congress and oval office until just recently.

ok blame 2 ,(evidently extremely powerful/snicker/) democrats . those 2 whipcrackers carry enough clout to stop the war in iraq too i guess . thats a good one isnt it?

thats a little bit of the most simplistic finger pointing i have personally ever seen, and fairly typical of someone who is ,politically speaking , "wearing blinders".

hey CHG , is there any particular reason we couldnt do both?

sounds like you are somehow connected to investment banking upper management to me...most probably a republican in upper management somewhere trying to pass the buck.

this is a REPUBLICAN problem. THE REPUBLICANS have had the lions share of power in the senate and congress and white house for WAY TOO LONG AND THIS IS WHAT HAPPENS WHEN YOU LET ONE PARTY RUN THE SHOW WITH NO OVERSIGHT!!!

i dont want to hear any blame laid on any democrats for the last 4 sessions of the house and senate ,the democrats have been muted and unheard for the most part , so dont start blaming the democrats for overtly republican policies that were rammed down their throats because YOU the moronic voter allowed to to be that way...

THE MORAL OF THIS STORY/FIASCO? YOU CANT HAVE A SOLID REPUBLICAN GOVERNMENT WITHOUT BIG TIME (REPUBLICAN LEGALIZED) SWEETHEART DEALS,EARMARKS ,GRAFT AND CORRUPTION,BLAH BLAH BLAH...ITS DISGUSTING AND THEY ARE ALL ELITISTS AND DO NOT CARE ABOUT ANYTHING OTHER THAN THE PROFIT MARGIN ON THEIR GLUTTED PORTFOLIOS.

LOOK AT THE REVERSE SOCIALISM THAT THE REPUBLICANS ( THE FED AND TREASURY DEPT.) ARE GOING TO USE TO MAKE WHAT SHOULD BE A RUDE AWAKENING FOR THE CONNIVING BANKING CHEATERS INTO A SOFT GOLDEN PARACHUTE LANDING FOR THE RICH AND POWERFUL...

...sigh...

Can anyone doubt that the current crisis would never have happened if Fannie Mae and Freddie Mac had only financed 30-year fixed rate mortgages with 20% down payments? It was their suppport for hundreds of billions of dollars worth of crappy mortgage paper that lies at the heart of the crisis in the financial system. Those crappy mortgages were sliced and diced and securitized and sold all over the world and now underly the toxic paper that befouls so many balance sheets.

You might want to ask who enabled Fannie and Freddie to do this, before you start pointing fingers. Hint: Who is it that is still, to this day, insisting that Fannie and Freddie continue to finance no-money-down mortgages? (Answer: Cong. Barney Frank and Sen. Christopher Dodd.)

McCain and Palin are 'disappointed' about the taxpayer bailout of AIG. McCain vows to keep American jobs and assets safe. Apparently, he won't 'tolerate' a system that puts American families at risk. I wonder if this intolerance shares any commonalities with the way that he also doesn't tolerate terrorists. And as with that problem, is there any hint of acknowledging a degree of shared responsibility? Doesn't McCain perhaps participate in this system that he won't tolerate? Or is it that he does tolerate it now, and has tolerated it in the past, but plans on stopping tolerating it if he gets elected?

Alexy

Look what experienced people did to our country. I will rather vote for someone who has less experience but smart and well educated.

OBAMA has ZERO experience, yet he is at the top of the ticket. Sarah Palin has made more executive decisions as a Mayor and Governor than Barack Obama has made in his life. Yet she is at the bottom of the ticket.

MCCAIN-PALIN 2008, HERO NOT ZERO

Dear John....
Please stop switching your positions on the economic issues so fast.... I can't keep up with you.

Actually, McCain said he did not know as much as he should. Well, guess what? None of the politicians do, including Obama. That's why every single one of them has advisors.

As for the Glass-Steagall Act, it was established in 1933, was extremelly outdated, did not represent the times, and had problems. That was why the Act was repealled and why Clinton agreed with having that Act repealled.

McCain is going to "drain the swamp"
by draining Wall Street now
awash in losses and discharge
those losses onto Main Street.

McCain is going to "drain the swamp".
by draining Wall Street now awash in losses and discharge those losses onto
Main Street.

McCain voted to repeal the Glass-Steagall Act, Clinton signed it, and Fannie Mae and Freddie Mac bought gobs of risky products because of it. Of course Fannie Mae and Freddie Mac became Golden Parachute Central for the Clinton AND Bush administrations. It's where political hacks got rewarded, plain and simple. Pelosi's "investigation" will be a sham because if it isn't, the perp walk will look like the guests going through the receiving line at an Innaugural Ball, and neither party wants that.

It is so funny how McCain talks about economy when he previously admitted that he does not know much about Economy. HAHAHAHAHAHAHA. He should not be trusted at all......

Ferg - Ultimately this crisis lies at the feet of the Federal Reserve. They put this aweful bubble in motion.

Who knew there were so many economic experts out there. Someone pls tell the rest of us, specifically, which part of Gramm-Leach-Bliley lead firms to make bad business decisions and what regulation/oversight by the federal government would have stopped that? Let's also discuss how Dems would have/will manage the financial firm failures differently?

It is so funny how McCain talks about economy when he previously admits that he does not know much about Economy. HAHAHAHAHAHAHA. He should not be trusted at all......

Bhrandon - I'd rather see an objective commission really digging into the drivers of the financial markets struggles and the best way to correct them, then Pelosi/Reid marching more CEOs into Congress to "probe" why they and Republicans are the ones to blame.