Thank You Democrats

[BTW]

If thats the video I'm thinking of ( Waters and Frank saying "nothing is wrong with Fannie Mae"), it has gotten air time on Fox news. Obviously, the propaganda networks aren't going to air it because it damns some Democrats.

McCain would do himself well to distance himself from this bailout, and back Newt Gingrich's plan to suspend market to market accounting as a way to increase liquidity. The problem is, it would take a huge amount of time to explain this to the average voter as the propaganda media will not talk about it. Most people have no idea what market to market accounting is.

Do yourself a favor. Read about it:

http://www.bloggingstocks.com/2008/09/30/will-suspending-mark-to-market-rule-solve-the-financial-crisis/print/

[AKIron]

I don't know if the government is to blame for this mess or not. If we are going to blame the government then it should rest squarely on those who refused to heed warnings and the democrats should bear at least as much as the republicans. Pelosi should be censured.

[FrodeMk3]

Ya that's it, try to change the subject.

I pointed it out because McCain will have a helluva time using that as ammo in his campaign if he backs the bailout; Anything done 4 years' prior will fade back into history, because McCain's actions' in the here and now will become the main focus. If he wants to use any of those news clips to his advantage, he needs' to do as BTW said, and distance himself from this bailout. Even if it means distancing himself from the Bush administration (which arguably he should have done anyway.)

[FrodeMk3]

I don't know if the government is to blame for this mess or not. If we are going to blame the government then it should rest squarely on those who refused to heed warnings and the democrats should bear at least as much as the republicans. Pelosi should be censured.

To her own discredit, Pelosi seems to be simply voting for the bailout, to get back at the Bush administration in some weird way. She's already come back out and damned Bush for pushing a bill she voted yes for. It's a national crisis, and she's playing partisan politics. 

[john9001]

where is obama, he said he was going to save the country.

[DiabloTX]

There are aspects of both parties that I just can't stand.  However, the democrats have for more of them that I can't stand than the republicans do.  This is one of them.  I call it the 'George Costanza Paradigm', "It's not a lie as long as you believe it.".  There's another common factor in that video but I shant bring it up here.  And we all know what it is.

[FrodeMk3]

This piece right here says alot:http://news.yahoo.com/s/time/20080930/us_time/thebailoutdefeatapoliticalcredibilitycrisis

[Ripsnort]

There are aspects of both parties that I just can't stand.  However, the democrats have for more of them that I can't stand than the republicans do.  This is one of them.  I call it the 'George Costanza Paradigm', "It's not a lie as long as you believe it.".  There's another common factor in that video but I shant bring it up here.  And we all know what it is.

I think I know what common factor you speak of.

Save it for another thread.

[lazs2]

I have heard that in any bailout..  the encouraging of "minorities" and "low income" borrowers will not be allowed in the future.    I hope that is true.. If the free market wants to make loans then let em fail on their own..  if the government forces em to make bad loans..  that is a different story.

I think the democrats want this to go through as quickly as possible to take some of the discussion away from who was to blame till after the election..  I don't think they want to have much focus on how well socialism really works.

lazs

[Ripsnort]

I have heard that in any bailout..  the encouraging of "minorities" and "low income" borrowers will not be allowed in the future.    I hope that is true.. If the free market wants to make loans then let em fail on their own..  if the government forces em to make bad loans..  that is a different story.

I think the democrats want this to go through as quickly as possible to take some of the discussion away from who was to blame till after the election..  I don't think they want to have much focus on how well socialism really works.

lazs

Keep in mind that alot of home buyers bought too much house, such as those who bought huge houses during the housing boom, with Interest-Only loans, expecting to make a fortune off the house in a couple of years of ownerhsip....

[Captain Virgil Hilts]

Keep in mind that alot of home buyers bought too much house, such as those who bought huge houses during the housing boom, with Interest-Only loans, expecting to make a fortune off the house in a couple of years of ownerhsip....

True. Absolutely. They should be punished like the rest.

[lazs2]

Oh..  I absolutely do take that into consideration..   I am saying that the socialism opened the floodgates for all these creative loans that the stupid and the sleazy all took advantage of...  Like any socialist program.. it opens the floodgates for those looking for loopholes..  the 1/32 indian or whatever then the next step is anyone can get the loan.

lazs

[Ripsnort]

Oh..  I absolutely do take that into consideration..   I am saying that the socialism opened the floodgates for all these creative loans that the stupid and the sleazy all took advantage of...  Like any socialist program.. it opens the floodgates for those looking for loopholes..  the 1/32 indian or whatever then the next step is anyone can get the loan.

lazs

I have a close friend in the mortgage industry that writes loans for a bank. They send applications to a 3rd party for review/recommendation/approvals of said loans based on background.  He said they'd get loan approvals within 2 hours for house loans, which means no one was doing anything regarding credit checks, background checks, etc., except checking SSN and typo's....

[SpazMan]

Keep in mind that alot of home buyers bought too much house, such as those who bought huge houses during the housing boom, with Interest-Only loans, expecting to make a fortune off the house in a couple of years of ownerhsip....

You are absolutely correct. My wife and I bought a house in 2004. We were approved for 250,000. Our calculations said we could afford a 125,000 home. We ended up buying a 115,000 home. The bank didn't take into consideration any of our auto loans, credit cards, or basic costs of living like heat, food, gas, etc.

[Steve]

I If he wants to use any of those news clips to his advantage, he needs' to do as BTW said, and distance himself from this bailout.

Hehehe bro... gross understatement IMHO. He should be running in the opposite direction of the bill and screaming at the top of his lungs what a bad idea the bill is.