Political Punch

John McCain the "double talk" express says, "our economy is fundamentally strong. What planet is he on?

John McCain says, "he wants to make Washington "transparent"...double talk express wants to conceal Sarah Palin's abuse of power in Trooper Gate.

John McCain voted 95% with Bush.

Sarah Palin doesn't know what the "Bush Doctrine" is? As Governor of Alaska, she charges cars, tanning beds and other items using the tax payers money.

John McCain and Sarah Palin is WORSE than Bush/Cheney.

Elect Barack Obama for Presdient.

Change we Need!

Obama/Biden 08

McCain now wants more regulations on the market. The Double Talk Express keeps lurching down the road.

In 1999, McCain supported the Gramm-Leach-Bliley Act which removed the walls between banking, investment and insurance companies that were established after the Great Depression.

In March of this year, he told the Wall Street Journal, "I'm always for less regulation. I'd like to see a lot of the unnecessary government regulations elminated."

In the wake of Enron's collapse, he voted for Sarbanes-Oxley but in 2007, he said that he "regretted his vote."

Is this man capable of sustaining a consistent position on anything but warmongering? He regularly seems to assume that Americans will just lap up whatever he says at the moment.

Back in 2003 -

Democrats who fear that tighter regulation of Fannie Mae and Freddie Mac could sharply reduce their commitment to financing low-income and affordable housing.
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.

So if the Democrats hadn't blocked this back in 2003 -- we would most likely not have this housing crisis today.

Obama is attemptint to recreat history. This whole mess is the result of the deregluation in the Clinton Administration which and the subprime loan market. Democrates pressured banks to make loan completely devoid of sound lending practices. After these risky loans were made, they sold them in the secondary market. Democrates blocked legislation proposed by John McCain in 2005. John McCain said
If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
-- John McCain, May 25, 2006

Obama failed to see there was a problem so who is out of touch!!!

For your information, Obama has pushed through and sponsored plenty of ethics reform bills that aim to cut wasteful spending. You can look it up. He has also supported bills to protect women from domestic abuse.

No one is saying that YOU are clinging to guns and religion and are bitter. Yes, that was something Obama shouldn't have said. He has apologised for that remark, at least. However, McCain isn't exactly not guilty of any mudslinging or whatnot either.

Don't forget Obama taught Constitutional law for 10 years and, before he was elected into the US Senate, was a state senator in the Illinois Senate for 8 years. Even if you think John McCain is more experienced, in this case it doesn't seem to equate to sound decisions. McCain supported the policies and deregulation that have led to the huge economic disaster we are currently mired in.

Just because Obama wants to increase taxes on the wealthy and give the middle and lower income a cut and some credits does NOT make a socialist government. Nor will the US become a socialist country.

For now, so that the plenty of people who are losing their houses or struggling to pay their bills, the tax returns they get are a lifeline to allow them to crawl out of the huge hole the disastrous economic policies of Bush and overspending on the Iraq war that is now going into the trillions dug them into.

Once the economy stabilises, of course then policies can be readjusted. A socialist country means having the state own all the companies and whatnot. I don't see that happening.

Penny Pritzker, Obama's national finance chair was, with her family, the half owner of Superior Bank, which was shut down in 2001 by the FDIC after it had lost nearly all of its more than $2 billion of assets on bad loans to high-risk borrowers, federal regulators said.

Pritzker has avoided media attention over the past week as reporters covering the Obama campaign sought comment on the Fannie Mae and Freddie Mac debacle.

Pritzker also served as finance chair for Obama's Senate run, and supported him during his time in the Illinois state legislature.

McCain economics = Phil Gramm economics

The fundamentals of the economy are
strong.

There is no crisis on Wall Street.

We are not in an economic downturn.
It is all in your hesd.

The economy is not in a depression.
We are in a "mental depression".

SOLUTION:

Stop being a nation of whiners.

What!

I came here hoping to see well reasoned arguments as to why a appointing commission is the correct and proper thing to do in these trying times.

So disappointed.

I'll go check out that Obama guys site, sounds like he has some ideas.

The United States House Committee on Financial Services (or House Banking Committee) oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators. It is chaired by Barney Frank (D-MA).

Don - read my post, look up the article on the NY Times about McCain's radical approach to health plans. That is something he is planning to "DO" and it is disastrous - a gift to multi-BILLION dollar insurance companies. What Obama will do? He will cut our middle class taxes by 5%, putting more money into the pockets of people to spend and stimulate the economy, WITHOUT taxing my benefits. He will regulate industries like banking and energy that need it. Responsible regulation that protects investments and the middle class whose retirements are at stake. McCain's economic policies were written by Phil Gramm - who drafted the legislation to DEregulate the banking and mortgage industries (in addition to the energy industries like Enron which led to THAT disaster and others like it).

"So, how many of the "working class" folk Obama purports to represent can afford $28.50 for dinner, let alone $28,500?"

Hmmmm what did McCain do last night when the Dow dropped 500 points....

McCain plans to end the day at a private fundraiser at the Intercontinental Hotel in Miami. Donors will pay as much as $50,000 to have dinner with the Arizona senator.

Obama attacks?

Right?

While he rubs elbows with the stars for mega bucks?

Specifically, Obama dines with Barbara Streisand at a reception and dinner costing $28,500 a person followed by a later event featuring Streisand at $2,500 a ticket.

So, how many of the "working class" folk Obama purports to represent can afford $28.50 for dinner, let alone $28,500?

The extravagant fundraiser comes as a slap in the face to American workers, on a day when the crisis in the U.S. economy remained an urgent issue for many Americans.

It also prompted a deserved response from John McCain.

"He (Obama) talks about siding with the people — siding with the people — just before he flew off the Hollywood for a fundraiser with Barbra Streisand and his celebrity friends," McCain said at a rally in Vienna, Ohio. "Let me tell you, my friends: There's no place I would rather be than here with the working men and woman of Ohio."

Streisand originally backed Sen. Hillary Rodham Clinton but flip-flopped to Obama when he emerged as the Democratic presidential nominee.

Change We Need?

Anybody But Obama...

"Please note that while Bush cut the tax rates, the amount of revenue this generated was 20% higher than under Clinton's best year."

Yes if you don't count for inflation and a declining value of the dollar. If you do, we just hit 2000's revenue level in 2007.

"The Bush tax cuts also eliminated the poorest 10 million people from having to pay any tax.

Therefore eliminating the Bush tax cuts would mean you want to increase taxes on our poorest people."

Except the only Bush Tax cut Obama is for repealing in the one for the highest income tax bracket.

TRICKLE UP AFFECT:

IF THE BOTTOM DOES NOT GET WORK, THE TOP RICH WILL NOT SURVIVE.

AIG, AND OTHERS, BAIL OUT.

NEWS FLASH:

AMERICAN TAXPAYERS WILL BAIL OUT AIG:

TRICKLE UP AFFECT:

85 BILLION TO AIG, PAID WITH AMERICAN TAX DOLLARS.

WHEN WILL THE TRICKLE DOWN AFFECT GET TO WORKING PEOPLE.

ASK THE REPUBLICANS.

TAX CUTS FOR THE RICH

IF A PLANT HAD A SYSTEM THAT WOULD NOT ALLOW WATER TO GET TO ITS ROOTS, IT WOULD DIE

Solutions people!! These candidates just talks about what happend, the past how about talking about WHAT THE HELL ARE THESE TWO GOING TOOOOOOO DO!!

That's right JohnTX. And the bottom-up approach that Obama favors actually helps small and local businesses because it helps people like me (middle class, hardworking, family, mom) spend money at local businesses. Under the current system, I can't afford to spend on anything. And ABC keeps censoring my reference to the NY times article by Bob Herbert. But people NEED to look it up and really see what this means to the average family - hardworking family and not one that relies on handouts). McCain's tax plan will send millions onto the uninsured rolls. Beckie, do you get employer paid benefits - do you even know how much more in taxes you will be paying? Do you have a family that depends on that? I do. I know what those benefits cost and I know the taxes on it will bury me. The credit McCain proposes ($5000 per family for insurance - are you KIDDING ME?) won't go an inch to providing that to my family. So, maybe I'll take the family to Ireland (my husband is from there so we can get European citizenship) and actually survive. And people like JohnTX will lose more qualified workers

Republicans,

Please raise your right hand and repeat after me.

I [state your name] do solemnly swear that I have been wrong about the role government regulation should play in our markets. I hereby acknowledge that unfettered laissez faire economics places the health, safety, and well-being of our citizens at too great of a risk to be allowed. From lead contaminated toys to tainted medicine to an unsafe food supply to the current Wall Street Meltdown, it is now clear to to me that that my beliefs were foolish. While I still support the streamlining of government regulation, I now recognize that government regulation is necessary for the protection of our citizens and of our economy from stupidity, greed, and corruption. I apologize to my fellow citizens for my support of the disasterous policies that have wreaked havoc on our nation. In an effort to make amends for screwing the pooch on this one with my foolish thinking, I will abstain from voting in November's election. It has become obvious to me that my judgment is lacking.

Davei n lv, of course the economy is not a zero sum game. We all create value. And of course government handouts aren't the be all and end all.

However, the idea that government never creates value is ridiculous. Government grants have created or helped create most of our major industries. Without our education system, we'd be a third world nation. So don't imply that the government can only hurt the economy. It just isn't true.

re Posted by: johnTX | Sep 16, 2008 7:13:45 PM

The rich become rich by squeezing money out of everyone else.
----------------------------
The economy is not a zero sum game. A growth of the economy helps more people than a government handout program.

And just so you guys know, Obama would raise my taxes. I am part of the 5% that he would raise taxes on.

And you know what? The only people in my bracket who complain about tax increases are ones who are overextended, hold a short term view of the economy and/or are greedy.

I worry about finding educated employees. If an extra $50,000 from me can bring me just a few more educated employees, then I'm more than willing to pay it. If it means the price for healthcare for employees goes down, then by all means take my money (do you have any idea how much healthcare costs a company?).

I'm a fiscal conservative. I have a hard time voting for a Democrat, but McCain's economic platform is disastrous. The man simply does not understand economics. Not only that, but the Republicans have taken the idea of deregulation, which I support for many things, to such an extreme that it has become an ideology. Deregulating telecom? Awesome. Deregulating banks? Are you freaking kidding me?

The GOP likes to pretend that taxes kill jobs. The truth is that California, which has some of the highest taxes in the nation, is also the powerhouse of our nation. The same is true of New York. Excess taxes are a problem, but Obama is not talking about some radical tax plan. His tax increases basically bring us back to Clinton-era levels.

Obama/Biden '08

JohnTx,
I do admire you for your views - and the willingness to pay the price. But I just don't trust BHO to bring the changes you want. Hillary I trusted, but that is history...

Don't even mention Greenspan - he is the one most responsible for the housing bubble. That is why he is no longer for McCain - the Dems won't blame him if he is one of them! He is hiding behind their skirts!

johnTX , Please note that while Bush cut the tax rates, the amount of revenue this generated was 20% higher than under Clinton's best year.

The Bush tax cuts also eliminated the poorest 10 million people from having to pay any tax.

Therefore eliminating the Bush tax cuts would mean you want to increase taxes on our poorest people.

re: Post by: krista | Sep 16, 2008 6:31:16 PM

Obama is a socialist?

This is the dumbest statement i have heard anybody make about Obama especially when he is running on the ticket of a major party.
------------------
Obama has said several times his major goal is income redistribution, not only in the US but throughout the world.

1. When asked if an increase capital gains tax rates would REDUCE the amount of revenue to the federal government would he be for it? He replied yes, it was a question of "fairness".

2. One of the few bills he wrote as a US Senator was a REQUIREMENT the US will reduce poverty by 25% THROUGHOUT the world within 5 years.

3. Numerous new programs which have the effect of taking money from the rich and giving it to the poor.

That is, unless it's HIS money. He gave little money for charity until he began his run for President. Although he gave several speeches how "we" should contribute money for Katrina relief efforts, his tax records showed he didn't give a dime of his own money for Katrina victims.

Beckie, I wouldn't mind my taxes going back to what they were during the Clinton-era. I am far more worried about finding employees because our education system is so poor and our colleges are full of foreigners who are going back to their own countries rather than staying here.

I have the long term view. We go in cycles. We tax for 8 years and then we get a Republican in and drop taxes and eventually we get another democrat in and we raise taxes.

Taking a hit on my own checkbook for the next 8 years is nothing compared to taking a hit for the next 16 years because our economy goes into the tank.

Am I a tax and spend liberal? I personally prefer taxing and spending to not taxing and still spending. Even Greenspan says that McCain's economic plan doesn't hold water.

Yes Johntx..lets look at Gramm, by the way he was almost at the bottom of the list of politician recieving contributions from Fannie and Freddie along with McCain. Its not hard to see who has more influence on Wall Street just check who is getting paid! Dodd, Obama, Kerry are you listening?

Johntx,
Wow! So you will be dancing in the street should BHO raise your taxes! Way to go, John - I guess you are another tax and spend Liberal! Spoken like a true elitist who has lotsa money!

The whole trickle down effect was ridiculous to being with. I've started three companies and sold two. You look to cut costs wherever you can. You do not squander money.

The rich become rich by squeezing money out of everyone else.

The idea that they are loose with their money and it just falls to the poor is ignoring how they became rich in the first place. The only rich people who squander money are trustfund babies and a few guys like Gates who have decided to give away their entire fortunes. By and large though, they are tight with their money.

Ryan,

You and "The One" have some things in common - I can see why you are such an ardent supporter:

- Both of you believe "right-wingers" and Republicans "lie" (let's not let facts get in the way)

- Both of you agree the Republicans are responsible for everything that is "wrong"

Granted, I'll admit that McCain-Palin ticket have not always been above board in stating "the truth", but I don't always blindly believe that anything a Democrat (or even The One) is a lie.

John, referring to Barack as "The One" is not blasphemous (I did not refer to him as "The Messiah"). But he (Obama) does give the appearance within some speeches that he is seeking to be a "savior" for us and he is uniquely qualify to lead us from the "famine and pestilence" picture he likes to paint of America.

Yes, let's pay attention to Frank Raines who has little to do with Obama and ignore Phil Gramm who wrote McCain's economic policy.

FROM REAGAN TO BUSH I AND BUSH II

TRICKLE DOWN AFFECT DOES NOT WORK:

LOBBY THAT.

FOOLS ON WALLSTREET

JOHN MCCAIN during the banking and housing crisis:
"The fundamentals of the economy are strong."

HERBERT HOOVER during the Great Depression:
"The economy is fundamentally sound."

McCain just doesn't get it. Vote Obama.

Is it Possible:

WE ARE FACING A TRICKLE UP AFFECT.

NO MIDDLE CLASS MONEY, NO UPPER CLASS WEALTH

NO JOBS FOR THE BOTTOM OF THE ECONOMY WILL NOT SUPPORT THE TOP OF THE ECONOMY

TRICKLE UP AFFECT is real

TRICLE DOWN AFFECT FAILED.

John, HE made those statements BEFORE Reps started calling him the Messiah.

His ego knows no bounds.

Ryan, Frank Raines walked away with OVER 100 MILLION DOLLARS. With that much money I could imagine a person who improves his golf game and has people calling him to be "friend".

Wasn't he APPOINTED by Clinton to head Fannie Mae?

Biden hired a lobbyist to advise him on his senate run. I could have saved him time and money. If you need a job - run for the senate.

"But just wondering how he is going to pay for Health care, etc."

Through a variety of cost saving measures such as record modernization(a few things McCain supports as well) coupled with revenue from tax increases on the wealthy and us no longer fighting in Iraq.

Plan has a projected cost of $60B a year.

Barrack Obama...Wall Street's community organizer!

John McCain invented the Blackberry.

I wonder why he isn't running on that platform.

Davei n lv, never mind when he said those statements, he was mocking the Republicans for blaspheming by calling him The Messiah.

johnTX, Don't you remember "THE day when the seas began to recede and earth began to heal"?

How about "when a light would shine from the heavens and a voice would call out to you to vote Obama?"

How about when HE said he would bring God's kingdom here to earth?

Uh. The Read My Lips guy actually did raise taxes when he realized that it was the only sane thing to do.

McCain is simply divorced from reality.

To BHO's 6-point economic plan (he really memorized them well!), I say "Duh?!" These are all elementary! But just wondering how he is going to pay for Health care, etc. "Read my lips: No new taxes" sound familiar? He is the most tax and spend Liberal there is! Or is he a liar afterall! lol!

"I did not know Gramm had such authority back when he was in Congress. Apparently he was very powerful."

Oh it wasn't just Gramm.

Deregulation is the bedrock of Republican economic policy.

Now we reap what they have sown.

Senaters Dodd and Obama were the recepients of the largest campaign contributions from "Fannie and Freddie". I quess that explains Frank Raines position as advisor to the Obama campaign. They were graced as the two largest recepients of contributions from Lehman Brothers. Now maybe I am being cynical but I agree that there needs to be an investigation into the dealings between Wall Street and congress. I'm sure none of the network news orgs will look into these ties or report them, but at least you brought it up jpt.

"Frank Raines is a contributor and advisor to The One"

Raines gave Obama $1K in 2004, big whoop.

The 2nd part comes from this

In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters.

As always right wingers lie

Why do Republicans keep referring to Obama as The Messiah and The One? Don't you realize that's blasphemy?

I don't think Frank Raines works for Obama and trying to tie Obama to Fannie Mae seems like a smear.

JohnTX,

Remember Jim Johnson? He was originally part of Obama's VP search team. He was ex-Fannie exec who walked off with millions. Frank Raines is a contributor and advisor to The One.

Ryan,

I did not know Gramm had such authority back when he was in Congress. Apparently he was very powerful.

Krista,

My mistake for calling Obama a socialist. He just believes that income re-distribution is "neighborly" (as stated in interview with Bill O'Reilly)

I wonder if Michelle will be looking down on us common folk tomorrow after he $30,500 dinner and concert? This really is a mean country where people are starving and the Obama's are having a lavish party with Hollywood.

One would think that John McCain's years as a POW would have psychologically damaged him. However, looking at this campaign it would appear that his loss to George W. Bush in 2000 is what REALLY sent him over the edge. Poor John, after he loses this campaign he is going to become just another old bitter man rocking on his 5/7/10/? front porches.

Commission's a grand idea! Let's put
McCain's "economic brain" Phil Gramm in charge!

I will say that McCain understands technology though - he did invent the Blackberry after all.

Odd that Republicans of all people should focus on it.
John Tx.
To me it is a bit different when fanne and freddie are being bailed out by tax payers, not shareholders or that ceo's of companies are elected by a board not selected by a President of like jersey.

Austan Goolsbee (Professor of Economics at the University of Chicago Graduate School of Business) is Obama's economic adviser.

I don't think Frank Raines works for Obama and trying to tie Obama to Fannie Mae seems like a smear.

Obama is a socialist?

This is the dumbest statement i have heard anybody make about Obama especially when he is running on the ticket of a major party.

"And in the midst of a financial crisis when he calls mcCain out of touch--BO's friends fork over $28,000 each just to spend time with The One."

McCain just held a $70K a plate dinner in Hollywood with the STEPHEN BALDWIN!

"Guess they will be laughing at us poor bitter small town hicks."

The McCain campaign sure is. Every time you gullibly accept their lies.

What better way for Obama to prove how well he connects with the average American

than to go spend the evening with his rich hollywood friends.

And in the midst of a financial crisis when he calls mcCain out of touch--BO's friends fork over $28,000 each just to spend time with The One.

Guess they will be laughing at us poor bitter small town hicks.

CARLY FIORINA (McCain economic advisor)
"I don't think John McCain can run a major corporation."

If McCain's own economic advisor doesn't have faith in him should the American people?

Vote OBAMA.

"Are you telling me that Gramm is responsible for allowing people with poor judgement to enter into mortgages which they could not pay? Is he accountable for their bad decisions"

Gramm fought against any regulation of predatory lending.

By allowing these companies free rein to charge whatever interest rate to whatever creditor created an environment of loans sure to fail.

Especially in a tight economy where people are losing their jobs and relied on credit to make ends meet.

Are people responsible for their own loans?

Certainly but Gramm's deregulation efforts fostered the environment we see the fruition of.

The whole CEO pay thing is an easy target.Odd that Republicans of all people should focus on it.

CEO pay reflects how difficult it is to find a good CEO. They just aren't that common and it costs a fortune to find them and hire them.

No one is going to cap pay on CEOs. No one is going to limit the ability for CEOs to negotiate golden parachutes. That's insane. You're talking about limiting employment contracts for private companies for goodness sakes.

All you need to know about Obama economics: Obamas Economic Advisor; Frank Raines,(Fannie Mae) who earned about 98 million between 1998 and 2004, overestimated earnings which led to 40% of earnings loss from Fannie Mae between 2001 and 2004, earns a 114,000 per month severence package from Fannie Mae.

"Palin said in one of her latest stump speeches that corporate CEO pay was too high.

So no taxes but there will be mandated levels on pay? How is that capitalist?"

Its not. An income cap is communist.

That's what happens when you try to appeal to an audience using emotional buttons vs knowing what you are talking about.

I didn't know that:

If you’re a family that owns one house, bankruptcy judges are actually barred from helping you keep a roof over your head by writing down the value of your mortgage,” Obama said. ‘If you own seven homes, the judge is free to write down any or all of the debt on your second, third, fourth, fifth, sixth or seventh homes. Now that may be of comfort to Senator McCain, but that’s the kind of out-of-touch Washington loophole that makes no sense.”

After a see-saw session, the Dow Jones Industrial Average (DJIA – 11,059.02) caught a late-day boost from Bloomberg's afternoon report that the Federal Reserve may offer a loan package to AIG. The Dow added 142 points, or 1.3%, and reclaimed the 11,000 level in the process.

Palin said in one of her latest stump speeches that corporate CEO pay was too high.

So no taxes but there will be mandated levels on pay? How is that capitalist?

Are athletes making too much money? Are doctors making too much money? Are government workers making too much money?

What are the relative pay levels that McCain-Palin will mandate?

Ryan,

Hmm...I think you can do better.

Point #1: Barack Obama makes alot of "claims"

Point #2: While you are fixated on Phil Gramm (I suppose he was the focus of talking points you received in today's Obama-Gram (nice pun!) - Nice break from Sarah Palin obsession), it is still not clear to me how Gramm is to blame for Freddie Mac, Freddie Mae, Lehman, 400+ slide in market, etc. Are you telling me that Gramm is responsible for allowing people with poor judgement to enter into mortgages which they could not pay? Is he accountable for their bad decisions? If so, then we perhaps we can begin a dialogue.

"the Dow was UP 141 points today."

Classic right wing amnesia.

Forget about the 500 point drop yesterday, look at the 141 point bargain hunting going on today!

Let's face the facts here. Deregulation caused this mess. The Republican's platform is based on deregulation. John McCain has said over and over over the past 26 years that he is against regulation.

And you want to put this person in charge of implementing regulation that is so obviously necessary to keep financial companies from committing wholesale fraud?

John McCain wants to bring his brand of deregulation to Health Care too.

Today's issue: health insurance. John McCain wants to tax your employer-provided health care benefits. He wants to replace those benefits with an insufficient tax credit--$2500 for individuals and $5000 for families (the average cost per family for health insurance is $12000).

There is a positive, progressive tax aspect to this: wealthier people should have to pay for health insurance themselves, without tax breaks from the federal government.

But make no mistake: this plan will do little or nothing for those who do not have insurance now--unless they are young and healthy--and it may well hurt a fair number of workers, especially unionized workers, who get gold-plated benefits from their employers.

It will certainly do nothing for families with members who have pre-existing conditions or children with special needs--because it makes no provision to regulate the insurers, forcing them to cover all comers at "community" rates that don't discriminate against the people who need health insurance most.

tjb8, the DOW was up today because they believe AIG is going to receive a bailout by "big government".

Maybe you should consider altering your statement.

BTW - For all those on the "Hope Train" (you know, the rhetoric about doom and gloom about how bad things are in the U.S., how current economic situation is "the worst since the Great Depression", and how "The One" will save us), the Dow was UP 141 points today.

Socialism and Big Government is not the answer.

I got plenty tjp

The general co-chairman of John McCain’s presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era banking regulation law that Democrat Barack Obama claimed on Thursday contributed significantly to today’s economic turmoil.

“A regulatory structure set up for banks in the 1930s needed to change because the nature of business had changed,” the Illinois senator running for president said in a New York economic speech. “But by the time [it] was repealed in 1999, the $300 million lobbying effort that drove deregulation was more about facilitating mergers than creating an efficient regulatory framework.”

Gramm’s role in the swift and dramatic recent restructuring of the nation’s investment houses and practices didn’t stop there.

A year after the Gramm-Leach-Bliley Act repealed the old regulations, Swiss Bank UBS gobbled up brokerage house Paine Weber. Two years later, Gramm settled in as a vice chairman of UBS’s new investment banking arm.

Later, he became a major player in its government affairs operation. According to federal lobbying disclosure records, Gramm lobbied Congress, the Federal Reserve and the Treasury Department about banking and mortgage issues in 2005 and 2006.

During those years, the mortgage industry pressed Congress to roll back strong state rules that sought to stem the rise of predatory tactics used by lenders and brokers to place homeowners in high-cost mortgages.

For his work, Gramm and two other lobbyists collected $750,000 in fees from UBS’s American subsidiary. In the past year, UBS has written down more than $18 billion in exposure to subprime loans and other risky securities and is considering cutting as many as 8,000 jobs.

I have an idea. Let's put Palin in charge of AIG. After all, as an outsider, she'll surely be able to turn the whole thing around!

Ryan,

Is that all you got?

Obama an African American went to the senate just to run for president wh