and btw,one of your quotes was almost 6 years old... that the best you can come up with??

There is one bailout that would solve all of these problems - providing fixed-rate, 30-year mortgages to people who are facing foreclosure.

This would stabilize home prices and stabilize the markets.

But it would also be seen as socialist whereas bailing out AIG overnight is not.

Donald Trump endorsed mccain last night. If there was ever a guy that looks out for his own interest it's Trump so that's good enough reason for me not to vote for mccain. I guess Trump would fall in that group making over $250,000 so he's worried. Anyone making under $250,000/year will see a tax decrease under Obama. Obama/Biden 2008!!!

Yes and you can thank this Senator:

In 2002, McCain introduced a bill to deregulate the broadband Internet market, warning that "the potential for government interference with market forces is not limited to federal regulation." Three years earlier, McCain had joined with other Republicans to push through landmark legislation sponsored by then-Sen. Phil Gramm (Tex.), who is now an economic adviser to his campaign. The Gramm-Leach-Bliley Act aimed to make the country's financial institutions competitive by removing the Depression-era walls between banking, investment and insurance companies. (WashPO)

Barb previously wrote: "Seriously, these Republicans got us into this mess....Where was the President and his administration?"

While you no doubt get emotional satisfaction from your rant, at some point you will HAVE to address these cold hard facts:

1. CONGRESS is the branch of government charged with regulating banks and quasi public companies such as 'Fannie' and 'Freddie'

2. CONGRESS writes the laws and regulations creating these entities and (supposedly) for "regulating" them.

3. Unfortunately, Congress has drafted these laws in such a fashion so as to almost GUARANTEE fraud and abuse will be rampant, and failure inevitable. For example, how is it POSSIBLE to allow somebody to apply for a mortgage without having to disclose how much money they make? Under those circumstances, how on earth can Fannie Mae decide if the applicant is a good risk or not (i.e. more likely to pay than default?) FANIE MAE DIDN'T CARE IF THE BORROWER COULD PAY OR NOT - SINCE Fannie KNEW the government was committed to bail them out if everything went south.

4. Re-read items 1-3 above. Are you STILL SURPRISED everything went into the tank??????????

Not surprising that the do-nothing party wants to do nothing is it? They would rather demagogue.

so whats you point daverino? the congress has been (and still is by virtue of the lame duck veto) under republican majority rule for the last 8 years ,and many before that as well.

yeah its a problem that the republicans have failed to address ,mainly because they were GETTING RICH BECAUSE OF IT !!!

THEY ARE THE MAJOR STOCKHOLDERS YOU ARE BAILING OUT DAILY AND THEY ARE DECIDING YOU USE TAXPAYER DOLLARS TO PAD THEIR ALREADY GIGANTIC SECRET SWISS BANK ACCOUNTS.

go on , be stupid . elect another republican ,its nothing to me really.

gives me something to live for though ,cause i live for the day when the american voter has an iq score > a light bulb/room temperature...evidently though ,reading over these posts its apparent that hasnt happened quite yet..

McCain, a member of Congress, has long been a champion of less government regulation. In 1995, he supported an unsuccessful attempt to create a moratorium on all kinds of federal regulation. He maintained that excessive regulations were "destroying the American family, the American dream." He said voters "want these regulations stopped."

"I'm always for less regulation but I am aware of the view that there is a need for government oversight," he told the Wall Street Journal last March. He added, "but I am fundamentally a deregulator."

Who is the Chairman of the Senate Banking Committee? Who got the most Fannie/Freddie donations?

Answer to both: Dem Sen Chris Dodd.

Who proposed Fannie/Freddie reform back in 2005 (probably too little too late, but worth a try)? Sen. John McCain.

Which candidate understand the financial complexities of the current situation - neither.

Why is it that Republicans have nothing else to resort to in this situation but name calling and grasping for things that are largely irrelevant?

And Good Lt, you ought to be careful saying things like 'the truth hurts'. Someone is liable to point right back at you and say, yes, it does.

alwyr,

Remind me...what party was in charge of Congress 18 of the last 20 years? And what party held the presidency for the last 8 with veto power over any legislation proposed by Congress? And what party has as their centepiece de-requlation of business? Republicans do not want to take responsibility for any of the mess that they have created...and it is not just the economy..

Holdfast - Who has three Freddie Mac and Fannie Mae uber lobbyist working and advising in the inner circle of his campaign? JOHN MCCAIN.

How is he going to serve two masters?

We should be paying attention here, paying attention because thats all we may have to pay with. We should as citizens all demand that an outside agency, not one appointed by any member of Congress ,investigate this matter.
Hire an outside firm, outside the country if necessary ,lay the books out and go to it. All we have seen so far is a finger pointed and recess by our leaders called. Is this what we pay them for? Or do most of them have something to hide?

My god, I have never heard so much whining in my life! Oh wait, this is all coming from the left mainly. We are tired of hearing you complain about the government's inability to help you, that's what happens when you put your faith and dependence in the government. For once, can you spare us your entitlement garbage and stop your incessant pan handling for taxpayer money. Go out there and get it done, work for it! You bring shame to our parents and grandparents who built this country and faced much more daunting challenges than this!

i would much rather be known as the "do nothing" party than be known as the " confederate flag-waving, gun toting redneck, white cloak/hood wearing cross burning, orphanage mortgage foreclosing ,war starting ,lying ,cheating ,elitist,racist party."

but you like it eh? that says volumes about you ,and is why i never have yet met a hard line republican i would knowingly sit down at the same table with for a meal.

by and large republicans are sanctimonious , pretentious,fat,richer than anyone needs to be,conniving ,users, manipulators. most never worked a day ,not real work anyway. they either ripped some one else off to get(eg; silverado savings and loan /j mccain or fatcat investor bailout @ taxpayer ewxpnse) their money ,or inherited most of it ,and use that to "work" and get richer.

laff @ "Work" = oxymoron to a republican

totally disgusting and repugnant and all of that PLUS absolutely no clue what noblesse oblige means...

sub-humans.

Bachmann could be the least intelligent member of Congress, and that's saying quite a lot, given the competition for that title.

Michele Bachmann, is an idiot; can I say that? AIG was a Bailin. Bachman's stupid point confirms that the Republicans know NOTHING about the economy. How about this: years of a Republican controlled executive branch, congress, and with the efforts of corporate lobbying, repealed a number of regulatory safeguards that kept banks and investment firms from creating opaque financial vehicles. The lack of transparency in this firms has led to a death spiral of asset valuation, as no company is clear how to mark their assets (good or bad) to the market. In short, sometimes regulation of market pushes the market, with an invisible hand, towards stability and efficiency.

"The bailout we are interested in is bailing out the American taxpayer,” said Rep. Jeb Hensarling, R-Tex., chairman of the conservative Republican Study Group.

the article continues "...According to the group, the solution to the financial meltdown is to lower capital gains and corporate tax rates to get money off the sidelines and into the economy"

yeah and the solution to having a headache is cutting off your head...

the above shows clearly WHAT A BUNCH OF RIP OFF CON-ARTIST PUBLIC MANIPULATORS REPUBLICANS ARE , THEY CAN LIE BETTER THAN A SONGBIRD CAN SING..EFFORTLESSLY

"The bailout we are interested in is bailing out the American taxpayer,” said Rep. Jeb Hensarling, R-Tex., chairman of the conservative Republican Study Group.

note: the above is written in republican-speak , a very esoteric language indeed...for a clearer understanding kindly substitute "fleecing" for "bailing" and "bailing out" in the above paragraph to get the true meaning.

The establishment is screwing the taxpayers and the lower level management (local govt., house) to take care of their banker buddies so they can retire with their pensions and a cushy lobbyist job when/if they ever get voted out. They don't work for you or care about you. Haven't you realized that yet!