No, the real trouble will be is if Obama/Biden somehow cheat their way into the White House.

We just think we are in trouble now.

Yes, Biden's pension is on the line and his cheesesteak lunch probably gave him indigestion. There are NO guarantees that you will get the money back, Mr. Biden and there are NO guarantees that this will solve the problem---in fact, this bailout for Wall Street and the banks will not fix the problem...there is nothing in the bill that will fix the problems of the millions of homeowners that are going to lose their homes or those in foreclosure---no bailouts for them. Banks will still charge outrageous interest on credit cards, homes are WAY to expensive now for the middle class and totally out for those making less, and taxes will have to be raised to bail out the bailout. If you are thinking of America then let the Stock Market readjust, and let the banks that made the bad decisions go and the many banks that didn't follow suit thrive.

S Adams nice talk you jerk.He is serious and you are a republican with no knowledge of what is going on so go get a life before it is to late.
Mike life has no giarantees.Not only Bidens pension is onthe line the little people need this but you a-- holes are to numb to see it.

Ahhh..cheating...now that's a new twist! Who made up that one? You guys should get together and write a movie or something - you know, use your imagination for good instead of evil.

- Barack Obama - First Presidential Debate, September 26, 2008

“I think Senator McCain’s absolutely right that we need more responsibility…”
“Senator McCain is absolutely right that the earmarks process has been abused…”
“He’s also right that oftentimes lobbyists and special interests are the ones that are introducing these…requests…”
“John mentioned the fact that business taxes on paper are high in this country, and he’s absolutely right…”
“John is right we have to make cuts…”
“Senator McCain is absolutely right that the violence has been reduced as a consequence of the extraordinary sacrifice of our troops and our military families…”
“John — you’re absolutely right that presidents have to be prudent in what they say…”
“Senator McCain is absolutely right, we cannot tolerate a nuclear Iran…”

Biden the blowhard, Hey Joe the market went UP today. I thought we were gonna implode if whiny Wall St. and "down on one knee Henry (Ap)Paulson" didn't get their way? But then again Biden's credibility has ALWAYS been in the toilet!

indp voter-It's a fact that the majority of the Americans think the bailout is a bad idea.
The Democrats have the majority, they didn't need 1 Republican vote to pass the bailout.
They only wanted the Republicans to vote on the bill so if the bailout fails they are not left holding the bag.
Now that it hasn't passed though, the Dems are going to go back and pass the original bailout, you know the one with all the handouts to lobbyist that the Republicans refused to vote on at all.
After the Dems get the bailout passed they will claim that they have swooped in and saved us from the financial crisis.

Joel--ACORN-you know, Obama's organization that is being investigated for voter fraud.

This 700 Billion is ANOTHER Political SCAM to help the RICH.

NO bailout for thr RICH !

Did the bailout get passed today??
No?
Then why did the stock market go up 400 points today?
Stop falling for the doom and gloom indp voter.
If it gets passed, we'll be okay and if it doesn't we'll be fine too.

BOTH PARTIES SHOULD VOTE NO FOR THE BAILOUT.

If the elected officials in the Senate were really trustworthy and not being paid by lobbyist, they would demand that all the CEO's who got huge payouts for their failing company pay the money back.

Where's the accountablity in all of this?

The last thing we need right now is to WASTE another 700 Billion Dollars!We should all vote for the party that puts a stop to this SCAM for the rich.

Total Annual Outlays (Federal Funds): $2.65 trillion

MILITARY: 54% for $1,449 billion
NON-MILITARY: 46% for $1,210 billion

Gee, I wonder what part of our national budget we can reduce?????????

Quit WASTING $200 BILLION/YEAR IN IRAQ!

There was no plan, there is no mission, and no one has defined what it is to "win" in Iraq....because they don't know!

Quit listening to flag waving platitudes and ask your leaders what defines "victory" in Iraq.

McCain, Bush, nor Obama has ever said when we can say the US "won" the war. Reason....they don't know!

There is no "winning" in Iraq. There is no one to surrender. AlQida will not be stopped because we occupy Iraq. They'll just move to the dozens of other countries that now despise us because of the war.

So what is the point of spending $200 BILLION a year again? Oh yah. So a bunch of pinheads can say USA, USA, USA.

A trip to the Olympics for every citizen in America would have been cheaper!

McCain and Obama need to stop being politicians and put a stop to this SCAM. This is typical politics, get democrates and republicans arguing with each other than allow this scam to happen and try and say it is for the good of the people. They are both WRONG. I will vote for which ever one does their best to STOP this SCAM.

Talk About Wasteful Spending you are right, we should stop wasting money in Iraq and for corporate bailouts. Obama and McCain are both wrong and should not be elected as President.

I don't think anyone knows what they are doing. Politicians panicked, American people played off of that, and panicked.
We need some REAL leadership.
Anybody?....Anybody?...

Lou Dobbs: ACORN’s Freddie and Fannie Connections

http://purplepeoplevote.com/2008/09/30/lou-dobbs-acorns-freddie-and-fannie-connections/

An Acorn Falls from the Tree

ACORN has often been in the news since 2004. Officially, they work to register voters and support housing. In reality, everyone in public life knows that they are hardcore supporters for the Democratic Party, and employ bare-knuckle tactics. Their organization is plagued by repeated investigations of voter fraud and other crimes.

In Ohio, where as secretary of state I oversaw elections for eight years, ACORN has been busy. One ACORN man in Reynoldsburg was indicted on two felony counts of voter fraud, and another was indicted in Columbus. Other such problems surfaced in Cuyahoga County, where criminal investigations are ongoing.

It’s not just Ohio. ACORN personnel are facing criminal charges in over a dozen states. In Washington State, for example, seven ACORN leaders had felony charges filed against them for voter fraud.

And there’s an unexpected twist. One of the organizations accused of pushing banks into making many of the unwise loans at the heart of the current crisis is … ACORN. Now that’s ironic. An organization that possibly contributed to our current financial profits is now being considered to make money off of it. And by “money,” I’m referring to your tax money.

Twice already this year Congress has funneled money to ACORN. Some report that February’s economic stimulus included funds for ACORN, as did the bill to help people struggling with mortgages passed this April.

...

Voter fraud is in one sense the worst crime against democracy. The sole means of democratically choosing leaders is through voting. Every voter gets an equal vote. Every citizen who is a law-abiding adult has an equal voice in who will govern us. Our vote is sacred. Those engaging in voter fraud are in one sense no different than who intimidated voters at the polls in years past. Voter fraud may not be attended by the suffering that accompanied the beatings and water hoses of those days, but the assault on democracy is no less real.

ACORN is a discredited organization, and far too many of its leaders and workers have been prosecuted for felonies against democracy. The idea that a single dime of taxpayer money would ever go to such a group is an outrage.

And Mr. Obama needs to explain his involvement with them.

http://article.nationalreview.com/?q=N2Y5MTc0ZTAyMmE1Mjk3NGE3OWRiY2FkMjZlN2YxYzc=

All you people do is run your yaps. We are retired and on a fixed income, which is shrinking and shrinking. What moron here said it went up today, as though that is the end of it(hmn)? It went up because there is hope that the nitwits in congress will get together and pass the legislation. It may just as well drop another 5-6-700 points again tomorrow. Countries around the world are mystified why the USA can't seem to get anything right anymore. Leader of the free world - yeah, a Judas goat!

I called our worthless Republican representative in the House today and said if he couln't manage to vote for the financial rescue package then we weren't going to vote for him either. All McCain did when he went to Washington was to screw things up. But of course he doesn't have to worry about retirement. He'll either keel over or live off of his wife's fortune. At least Joe Biden isn't a rich bastard like him!

Apparently there isn't anyone else on this blog who has been watching their retirement or other investments shrivel, so it is pretty easy for you to mouth off like a pack of hyenas. It is mostly just your ignorance showing.

The Senate decided unanimously to vote on a modified "rescue package" tomorrow, Wednesday afternoon. I'm assuming the stock market knew about this already. This is a $700B package raising the FDIC insurance to $250K and merging this with the energy and business package that they have. This is clever, and will get the Senate to vote for this almost unanomously and show "The Markets" that they did this for a vote of confidence. Then they will send it to the House. That gives a good package and also pressure and time to get it to be improved. Brilliant. After all that approval, only the true idealogues will hold back.

Friends of Obama: Advisor Pledged $1 Trillion in Sub-Prime Loans As Fannie Mae CEO

James A. Johnson--the man chosen by Sen. Barack Obama to lead his vice presidential search committee---served as head of the Federal National Mortgage Association, or “Fannie Mae,” from 1991 to 1998, receiving a reported $21 million in compensation upon his departure.

As CEO of Fannie Mae, Johnson set a goal of buying up $1 trillion in low-income mortgage loans, a move that eventually helped trigger what would become the sub-prime mortgage crisis.

...

Almost immediately upon taking the helm at Fannie Mae in 1991, Johnson began expanding low-income mortgage lending, unveiling a $10 billion plan to expand low- and moderate-income mortgage lending by using the “3/2 option.”

This option allowed low-income borrowers to secure mortgages by providing just 3 percent of the required 5-percent down payment from their own funds. The other 2 percent could come either as a gift from a family member or a grant from a non-profit agency or state or local government.

...

The $1 trillion expansion of sub-prime loans was “a contributing factor” to the current financial crisis, according to economist David John of The Heritage Foundation, “but it was not the only factor.” Fannie Mae policies on credit-scoring played an equally important role--and Johnson’s policies set the stage there, too.

...

“We abhor the use of credit scoring as a way to deny housing finance to those people who need help the most,” Johnson said. “We won’t put mechanical systems and arbitrary numbers above our faith in your [local lenders’] judgment and we won’t go back and second guess loans you’ve already made…if they don’t match up to a new way of assessing risks or doing business.”

Johnson called the higher interest rates paid by sub-prime borrowers a “tremendous burden” for families and said “it seems we can make A’s out of B’s and C’s in many circumstances” by giving less weight to factors such as divorce or job loss, which would normally lower credit scores.

Johnson further advanced his $1-trillion low-income loan initiative by expanding to more than 50 the number of partnership offices in cities across the country, and boasted in 1997 that Fannie Mae was “on course” to reach the $1 trillion goal by the end of the decade.

http://www.cnsnews.com/public/content/article.aspx?RsrcID=36563

The credit crunch is already happening. I've had my banks send notices on lines of credit and credit cards defining new rules that are pretty scary (ability to change the line amount, the interest rate, cancel, to not approve any particular charge). I didn't know that this could be done. If you say you disagree, they can cancel the card or line of credit.

Anyone else seeing this?

The stock market collapsed and guess what....
This chaos gives advantage to Obama because he is Democrat.
People still thinking about the party only.

Obama acknowledged in an offhand remark to ABC's John Berman tonight:

"I don't think me calling House Republican members would have been that helpful, I tend not to be that persuasive on that side of the aisle," he said.

Barack Obama, acknowledging he doesn't know how to do bipartisanship.

In an election year everyone is a party loyalist, and it is a lousy time for bipartisan anything. It is the Republicans whose creed was deregulation though. They bragged about it - free market. Well I haven't seen too much of the free market stepping up to the plate in any kind of major way yet.

Regarding the post describing James Johnson with connections to Fannie Mae. Mr. Johnson is not part of the Obama Campaign. If you recall that in the late Spring, a working group was put together to find a VP. Mr. Johnson was on it for just a couple of weeks as Obama asked him to leave. Carolyn Kennedy took over the group and did a fabulous job as everyone knows. Contrary to uninformed Republicans and the McCain camp lie engine, nobody associated with these lending groups are part of the Obama campaign.
I know most intelligent people try to inform themselves with real and current facts.

By Cliff Kincaid Monday, September 29, 2008

With one socialist “bailout” bill apparently on the way to passage by Congress, two more are pending―both of them sponsored by Senator Barack Obama. One is the Jubilee Act, which would cancel as much as $75 billion worth of Third World debt, and the other is the Global Poverty Act, which would cost an estimated $845 billion. Total potential cost: $920 billion.

CNN and the MSM not talking obout this Obama's Global Poverty Act, And Jubilee Act. But im sure the Amrican people would want to know that most of this money will be for Africa? Kenya? for muslim terrorists? This is American taxpayers money,and not a word obout it in the news.

By Cliff Kincaid Monday, September 29, 2008

With one socialist “bailout” bill apparently on the way to passage by Congress, two more are pending―both of them sponsored by Senator Barack Obama. One is the Jubilee Act, which would cancel as much as $75 billion worth of Third World debt, and the other is the Global Poverty Act, which would cost an estimated $845 billion. Total potential cost: $920 billion.

CNN and the MSM not talking obout this Obama's Global Poverty Act, And Jubilee Act. But im sure the Amrican people would want to know that most of this money will be for Africa? Kenya? for muslim terrorists? This is American taxpayers money,and not a word obout it in the news.

Donna Hughes--The Republicans are not completely innocent, but Democrats should bear the brunt of the blame. This has been building up for a long time before the bubble burst.
In 1977 Jimmy Carter passed the Reinvestment Act giving people who could not afford housing to qualify.
In 1994 Bill Clinton re-wrote the act and new stipulations weer made worse. Banks were given strict quotas to meet to ensure more diversification in housing.
Now we have people who bought homes who could not afford them and the banks and Fannie Mae are left holding the bag.

We are losing $ on our staocks too, but $700 billion taxpayers funded bailout is not the answer.
Who came up with $700 billion? Paulson who is trying to dig himself out of a hole he made as CEo of Goldman Sachs. Look it up.

The FDIC already insures retirement accounts up to $250,000.

So will someone please ask Joe what he has done in 35 years as a Senator other than carry the water for his Delaware based banks?

Good ol' Geevill always shows up to smear Joe Biden in some way. Your not up to your usual standards tonight.

S Adams,
I'm quite aware that there is blame to go around. I don't remember the particulars, but weren't the republicans also in control of congress in '94? At any rate deregulation is the republican mantra, and it is republicans who are dragging their feet now, though I suppose the Democrats could shove it through if they wanted to shoulder the responsibility. But where is the love? The bipartisanship that everyone claims seems to have dissolved in election year posturing.

--( This is American taxpayers money,and not a word obout it in the news. )--

yeah, maybe because it isn't news.

Dear Joe,

Why did you give hush hush approval for hush hush removal of Voice of America from Russia, Georgia, and Ukraine just days before the Russia invasion?

Yeah, let's just throw more money at the problem! That's the leftist/Socialist answer to everything!

Nancy Pelosi wouldn't even acknowledge that the high gas prices and higher prices for everything else was a CRISIS FOR THE AVERAGE AMERICAN.

Nooooooooo,,,she had to shut down Congress and REFUSED to even allow a vote on a viable Energy Bill similar to The Picken's Plan, saying it was bad for America.

The Pickens Plan, coincidentally will save the U.S. $700 billion in foreign oil. But she said it was "bad" for America.

Anyway, she had to go on her all important book tour, rather than address the gas price crisis,,,she sold little over 3,000 copies.

But,,while on vacation for several weeks, she and her husband became heavily invested in The Pickens Plan, from which they will gain gazillions of $$$ profit after she makes sure the Energy Bill legislation passes in THIS session of Congress.

Meanwhile, ACORN, source of fraudulent voter registration in every state, and handing out now failed mortgages to people who were not required to provide proof of identity, citizenship, or secure the mortages, which have now gone into billions of dollars in foreclosures.

Obama was their defense attorney,,defending ACORN practices.
ACORN sells elections through voter registration fraud.
Obama, a three year Senator suddenly gains the Democratic Presidential candidacy. You do the math!

The Dems made certain that ACORN would have received hundreds of millions of dollars more in the bailout bill,,,,,ergo using U.S. taxpayers dollars once again to steal elections.

Blame it on McCain, Madame Speaker of the House, Nancy "let em eat cake" Pelosi!!!

Congressman Davis was apologizing all over himself on national news today for having vehemently opposed McCain a few years back when he tried to pass legislation that would put strict oversight on Fannie Mae and Freddie Mac, just to name a few!

Congressman Davis said he would hope that the Democrats who also opposed the McCain legislation would also apologize.
How about they just resign?!?!?!

The DemocRATS must see STUPID written all over the average American citizen to try to slip that one by us again.
They were so sure that Americans would be so afraid of the Stock Market crashing that we'd swallow more of the same, like idiots.

Well, think again!!
America has shaken itself awake!
We're handing out ass whoopings and lollipops, and we're fresh out of lollipops!!!

My IRA's are shrinking, but I don't think it's the taxpayers' responsibility to protect those accounts. After all, I earn less with savings accounts and CD's, but know that they're insured. I take the risk of losing money in the stock market based on the promise of higher returns. I'm not lucky enough to be entitled to a pension or old enough to be drawing Social Security (don't even know if SS will be there for me).

I'm not whining or complaining about any of this. I don't think taxpayers should be bailing out irresponsible people or ensuring that no one suffers a loss when their retirement accounts fall or their home price declines. We're veering toward Socialism, which has always gained its strength in times of uncertainty and panic. Would you give up your freedom for the sake of security?

Good point, geevil. I forgot that retirement accounts through FDIC banks are insured up to $250,000. Thanks for the reminder.

Democrat all my life---
This very of Obama is astounding and to think that everyone is falling for this imposter baffles me.

He has never made any noteworthy accomplishments in his life, even with all the controversies surrounding his associations and past drug use, and numerous flip-flopping, the media, hollywood and liberals continue to fawn over him and turn a blind eye to his faults.
Now we have small children chanting a song about him, reminiscent of communist countries, to feed his ego even more.
This man scares me and after reading about the NPD and the comparisons to Obama, it terrifies me that he could possibly be running our country in a few months.

Banks/companies that are Regulated are not experiencing any econimic crisis, just the investment banks/companies which are not regulated or de-regulated and have no oversight! "One of the regulations meant to keep insiders from driving down the prices of their own company’s stock so that they could sell short at will to make a quick million whenever they felt like it was called the “uptick rule”. The “uptick rule” is another one of the FDR Era regulations which the Heritage Foundations was talking about when they said that they wanted to roll this country back to the days of Herbert Hoover. They succeeded. The Bush administration got rid of this safeguard last year---with predictable results. The uptick rule is fairly simple. "

(And by the way, Sec. Paulson has a nickname only the insiders know of -- Hanky Panky Paulson!)

http://www.investopedia.com/terms/u/uptick...

What in the world are you people doing, Obama keeps saying he is for change, but have you ever heard what that change may be. Check his voting record, he voted "present" on the economic bill. He has no clue what he is doing and the person that stated the Republicans have ran our country, you are very wrong! The democrats want Obama in so that they can change this U.S. to a socialist country. Do you want to be told what to do and how to do it? That is the Democrats theory. Both CEO's from Freddie Mac & Fanny Mae that got us into this economic trouble are on Obama's election committee! What does that tell you about Obama! Wake Up.

I like the comment about cheating their way into the White House.
Are you serious??? Bush and his cronies perfected cheating their way in, and we've been stuck with him and Cheney ever since.
Wow just think, more of the same! simulated terror attacks (still looking for that plane wreckage at the Pentagon), more Katrinas, more Iraqs (bomb bomb bomb, bomb bomb Iran)
more of less for those who need it. Are you kidding me?
Oh and just think... How about that Sarah Palin for President??? Excuse me, I'm about to lose my lunch at that thought.
By the way, where is old Dicky boy ??? anyone seen him since this "financial 9/11" started???

along with the Repug-lite Dems who control that corporate party, I might add..
quite laughable how dumb some of these posters are.. wow, 400pts up yesterday which didnt even make up half of the day before.. ever heard of DEAD CAT BOUNCE? .. short covering... d'oh!
The really disturbing thing is that all corporate press-- npr & bbc really badly so-- are adamant propagandists for this vile Package right now, buying into the urgent fear appeal. Pete DeFazio explained that there are great alternatives when he was on therandirhodesshow.com ... see his site please at defazio.house.gov

Sure, Joe.

Just like we're supposed to believe it when Bush has been saying the same exact thing.

Reality: The sky is NOT falling.

Don't buy into the hype. Don't buy into the fear. That is exactly what the government wants you to do, to be afraid. Then they will swoop in with their rescue (which will eventually make things worse and only delay the inevitable) and save us all.

Not going to happen.

C'mon, folks, we may not have as many pieces of paper on the walls as some of these guys, but we are still way smarter than these idiots.

Come on Joe, surely you can profer an opinion on the Whole Fannie amd Freddie cover-ups of 2004 and 2005 by your own party. It would be nice for ABC News to cover this story instead of telling the public what the polls had to say about the swing states.