Republicans believe in privatization of profits and socialization of losses.

And here is their new leader:

Here is a look at McCain’s back-and-forth on regulation during the last 24 hours:

- Deregulation: McCain issued a statement Monday morning saying that "we cannot tolerate a system that handicaps our markets and our banks."
- Regulation: McCain’s campaign then put out an ad calling for "tougher rules on Wall Street."
- Deregulation: This morning, on NBC’s Today Show, McCain said, "Of course, I don’t like excessive and unnecessary government regulation."
- Regulation: Then, on CBS’s The Early Show, McCain said, "Do I believe in excess government regulation? Yes."
- Both: On CNBC’s Squawk Box, McCain said, "We don’t want to burden average citizens with over-regulation and government bureaucracy...And I’m proud to be a Teddy Roosevelt Republican, who said, ‘unfettered capitalism leads to corruption,’ and we’ve got to fix this."

Never fear Starbucks will not fail. We need all that caffine, sugar etc to be able to work our two ot three jobs that we now have.

I thought Starbucks was getting rid of a lot of its restaurants? :--)
Seriously, these Republicans got us into this mess....Where was the President and his administration? Weren't they watching? they didn't see what was going on for EIGHT YEARS?
AND MC CAIN WILL BE THE SAME....
Obama/Biden 2008

last time they did this bail out for a trillion dollars they waited until after the election.

of course the names were a little different on the door ...

McCain/Keating has become Mccain/Gramm.

The GOP economic philosophy has finally come home to roost.

What a time for it to happen. There must surely be a God somewhere!

funny how the HOUSE republicans (thats the local yokel representatives mostly ,not really that rich by and large,comparitively speaking) are the ones making any sort of fuss over this.

the SENATE republicans' (they are the REAL FAT CATS) silence on these bailouts is most telling... i think some senate investigations may be in order when the democrats DO finally get enough majority to actually get something done.

1st order of business: bust republican corporate overlords/elitists DOWN TO SIZE!!

yeah thats gonna include you lady rothschild you turncoat.

It all just makes me want CHANGE!

Yes - Bear Stearns, Lehman and AIG are just like Starbucks.

Who elected this woman?

Never fear Starbucks will not fail. We need all that caffeine, sugar etc to be able to work our two or three jobs that we now have.

Posted by: jenny
--------
Amen to that! Guess I'm not the only one looking for a Saturday job. Trying to get kids through college, but can hardly make ends meet. Thanks but no thanks, Republicans!

cmon Paige, be logical and smart.

how can mccain do anything but lie and flip flop?

if he tried to use the republican parties' true political history of the last 40 years ,he would get no votes from anyone but the top 5% of the rich in america.

he has to go back and forth , any real concrete policy he DOES endorse becomes a real hot potato for him almost immediately due to the difference in what he says he thinks in order to appeal to the widest voter demographic versus what his rotten corrupt party base requires/expects him to preach.

"''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.''

- September, 2003 - Barney Frank (D), ranking Democrat on the Financial Services Committee

Boy - with Democrats keeping Congress from exercising its oversight role over Fannie-Freddie during years of endless worth of bad loans for "low income housing for the poor/the children/the oppressed", no wonder Pelosi and Reid are leaving Washington in such a hurry.

""There is a sort of a panic going on," "The facts don't warrant that reaction in my view. Fannie Mae and Freddie Mac were never bottom feeders in the residential mortgage markets. People ought to feel confident about them."

Senator Christopher Dodd (D) 7/2/2008

The hits just keep coming. The former CEO ousted from Fannie - Franklin Raines - is one of Obama's top economic advisers. The nation is screwed if these dolts get anywhere near the WH.

Read the New York Times article from 9-11-03 entitled "New Agency Proposed to Oversee Freddie Mac and Fannie Mae"

The truth hurts (Democrats).

EPIC. FAIL.

There will be no investigations, as if there were, they might find that 5 years ago Bush tried to reform these industries, and McCain tried three years ago... efforts that were spiked by Democrats, since they were on the receiving end of loads of cash from these same companies. And since Obama was #2 on the cash cow list (Chris Dodd, getting preferential rates from Countrywide was #1), this will never see the light of day. But don't let silly little things like facts get in the way of your Obama worship.

Why would anyone listen to bat sh*t crazy Michelle Bachman? Seriously. The woman is insane. Man the Republicans bring the crazy women out of the wood-works.

Truth Matters,
I sure as hell don't. Bailouts are anathema to conservatism/free markets!

To all the Bush bashers, I'll await your detailed analysis of Bush's role in this crisis.
Also, explain away how relaxing credit rules to fit liberal ideals of homeownership at Freddie/Fannie helped us get to where we are.

Banking oversight is a function of CONGRESS.

If there is blame - it lies in Congress on the Banking Oversight Cmte.

Google the Chairman.

The buck literally stops with him.

its called "PERCEPTION ECONOMICS" Good Lt.

i think those comments like many i hear daily from diverse financial corners try to get the american public to be calm .

a perception of calm is just enough sometimes to actually make the entity take a turn for the better , or allow time for a correction ,by legislation or other means.

have you ever heard anyone say "this is perception based economy"? when you do ,ask them what them mean ,then perhaps you will understand some of the positive leaning/optimistic economic statments made by both parties.

bless your simple minded heart.

Banking oversight is a function of CONGRESS.

Banking oversight is a function of CONGRESS.

Banking oversight is a function of CONGRESS.

Needs to be repeated over and over.

Can't fix stupid.

Democrats = Epic. Fail. is right on!

It appears all our little libbie friends out there need a basic course in Economics 101, specifically Macroeconomics.

Keep spouting your empty talking points that you've been brainwashed with. The rest of the country is laughing at your idiocy.

Let's not forget the housing meltdown is at the heart of these failures.

I didn't hear any outrage from Americans when their retirement funds and home values were soaring because of a booming housing market fueled by people taking out loans they couldn't afford to repay.

I'm just sayin... There's plenty of blame to go around from Washington to Wall Street to Main Street.

And for the record, McCain warned of this in 2005 and tried to reform Fannie and Freddie, but the 2006 Congress voted him down.