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ANALYSIS: US elections overshadowed by Wall Street
By Peer Meinert Oct 9, 2008, 1:36 GMT
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Older Talkback
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... And this is announced one day after we find out that AIG executives spent $400,000 of the first $85 billion in tax payer bailout money given to them last week ... for a luxury resort vacation getaway.
They're screwin' us ... with the help of Paulson and Bush.
If you're not outraged, your not paying attention.
Republicant's your trickle down has trickled down. Those that support this administration are a bunch of idiots. I hope you bible thumpers are the first to loose your home, can't afford gas to take your kids to the doctor you cannot afford and in general FOAD.
... Is the net effect of getting pissed on.
The reason we are in an economic crisis is that lenders gave mortgages to people who could not afford to borrow what they were allowed to borrow. They did this knowing that they could sell the mortages to Fannie Mae and Freddie Mac; Quasi private institutions who had public backing. That means that they didn't have to worry about what other banks have to worry about: giving out bad loans to people who couldn't pay them back, because they could just go to the government to have them pay for whatever mortgages went bad.
The government was supposed to exercise oversight on Fannie Mae and Freddie Mac but the CEO's and overseers of Fannie and Freddie were experts at buying off politicians in order to avoid regulation. They bribed politicians with lavish campaign contributions and gifts so that the politicians would stop regulators from doing their jobs and stopping them from effectively passing off billions of bad loans off on the tax payers. These same CEO's made millions for themselves off this scheme and drove the companies in to the ground and took the banks who bought the derivatives and mortgages down with them.
Who were the politicians that were in Fannie Mae and Freddie Mac's pocket?
Barack Obama took more money from Freddie and fannie than any other senator in such a short period of time. The only reason Chris Dodd was able to wring out more is because he was in the senate over 10 years. Here:
All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name, Office, State, Party, Grand Total, Total from PACs, Total from Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Obama was the number 1 recipient of money from the failed countrywide mortgage lender.
Jim Johnson and Franklin Raines were CEOs of Freddie and Fannie and both walked away from the mess they made with tens of millions in undeserved bonuses and BOTH are not only contributers to Obama but both are key political and economic advisers to him and his campaign. Jim Johnson oversaw the Obama vice presidential search committee. Penny Pritzker is Obamas campaign finance chairman, she made millions in the sub-prime crisis. Jamie Gorelick who is one of the Fannie executives who benefited from inflated bonuses based on Enron-style accounting and another Obama adviser.
Those 4 were involved in buying off politicians in order to limit Fannie/Freddies accountability and they are giving money and advice to Obama.
Barack Obama is continuing a long history of helping other people steal from the tax payer in exchange for financial contributions and power. He did it with tony Rezko in Chicago who stole millions from the taxpayers took care of him well.. Now he is doing it with the CEOs of these failed banks who have bought and paid for him with OUR money in order to stop the regulatory bodies from stopping them from stealing.
Take a look at the democrats stopping regulation of freddie and fannie.
www.youtube.com/watch?v=_MGT_cSi7Rs
www.youtube.com/watch?v=1RZVw3no2A4
Thanks
'Republicant's your trickle down has trickled down.'
Like you lost anything. People like you only have their hand out.
... Over and over.
No matter what the article is about. ... he cuts and pastes the same - way too long - neocon propaganda.
I'd bet that even his own family has to plead with him to shut up (I was gonna say friends, but I'm not inclined to believe he has any)
Hey cut and paste windbag ... we stopped reading your re-posting of biased articles a long time ago.
You stupid fool ... You undermine your point by being so tiresome.
'Over and over.'
Nope, all new.
'No matter what the article is about. ... he cuts and pastes the same - way too long - neocon propaganda.''
Sorry if it can't be understood by your stupid monkey attention span.
'. we stopped reading your re-posting of biased articles a long time ago.'
Indeed, you only see what you want to see, that makes you a moron. What's this 'we' BS? Are you speaking for your multiple personalities?
'You undermine your point by being so tiresome.'
And you don't have a point.
AKA Smiley D a-hole, AKA creepy stalker of SP's stalker, AKA fricking moron, AKA SPAMMER. Guess who is going get his IP blocked for being a SPAMMER? Look in the mirror, headcase, it's you.
nobody reads those long posts anyway - what a waste of time! I thought a comment wasn't a script!
'AKA Smiley D a-hole, AKA creepy stalker of SP's stalker, AKA fricking moron, AKA SPAMMER. ''
LOL, you are sputtering with rage. I love it.
'Guess who is going get his IP blocked for being a SPAMMER? '
No spam here. I had a talk with the mods and have followed the rules set fourth. Guess you will just have to throw your impotent temper tantrum... as you have been anyway.
'Look in the mirror, headcase[sic], it's you.'
You calling someone a head case is pure psychological projection. Why don't you take your anger out on what is really holding you back? Look in the mirror head case and random comma user; it's you.
you say: 'I had a talk with the mods and have followed the rules set fourth.'
Firstly, learn to spell.
Secondly, yeah right. Sure you did. Take your medication, headcase, the only people you talk to are your imaginary friends.
'Firstly, learn to spell. '
Because I abbreviated 'moderators'? LOL Firstly, learn to drop dead.
'Secondly, yeah right. Sure you did.'
Yes, I did.
'Take your medication, headcase[sic]'
Again, more projection. If you are on Meds you need to have them changed. Additionally, talk therapy is what is commonly used to address your childhood issues. Until you seek real therapy you are going to continue to be a lashing out, incoherent loser. 'Head case' is 2 words by the way, so 'learn to spell'.
Main Entry:
head case
Function:
noun
Date:
1974
: nut
Try the word forth, not fourth, Dickweed. The clue was in the first sentence. But then you are too stupid to even read or understand your own words when they are placed infront of you.
'Head case' is 2 words by the way, so 'learn to spell'.
It depends on which dictionary that one uses, you illiterate moron.
Take your medication, headcase
Again, more projection. If you are on Meds you need to have them changed. Additionally, talk therapy is what is commonly used to address your childhood issues. Until you seek real therapy you are going to continue to be a lashing out, incoherent loser, I am not responsible for your wicked uncle Ernie.
It’s not a matter of democrat and republican! It’s a matter of class! The rich get rich and poor get nothing. The longer the lower class doesn’t understand that, the longer we get screwed! SHOW THEM ALL WE ARE DONE BEING SCREWD AND VOTE NADER!!!!
The por calling the kettle black.
Iy would be nice if those neocons could come up for an explanation for these words.quote
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.UNQUOTE
That is what McCain had to say about health care in september.
So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry.
Tose that are so eager to stigmatize the democrats can perhaps find a better explanation for the words of McCain but I think they are beyonf interpretation.Still I'd like them to try,so any neocon geels challenged?It is one thing to attack your opponenet,it is another thing to defend your own candidate,so please take this opportunity to reveal how these words of McCain must be understood.I challense SP4,the rsident neocon to tell us what these words mean.
'I am not responsible for your wicked uncle Ernie.'
That was my line. Something else that you are parroting back.
'Try the word forth, not fourth, '
Nope. fourth, fourth, fourth.
'Dickweed.'
Again, thanks for demonstrating that you are 7 years old.
'It depends on which dictionary that one uses, you illiterate moron.'
Oh, well I posted from an English one. If you are using some other language that is unique to you that explains why you come across as such an idiot.
Oh, and thanks for following up with everything that I had previously posted. A bit rattled because you are so transparent?
The most striking thing about the TV debate was McCain's doddery walk - he was shuffling about and really revealing his age. Imagine what he will be like in 4 years time - clinging to a zimmer frame and dribbling (even more) inanities
The Republican achievement -
The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.
The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.
The board was erected to highlight the $2.7 trillion level of debt in 1989.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 09 Oct 2008 at 11:53:03 AM GMT is:
$10,229,373,285,441.21
The estimated population of the United States is 304,875,861
so each citizen's share of this debt is $33,552.59.
The National Debt has continued to increase an average of
$3.24 billion per day since September 28, 2007!
National Debt -- In the News
29 Sep 08 - Bush Administration adds $4 trillion to National Debt (CBS News)
25 Sep 08 - ABCs of the bailout: what it means for taxpayers (Tahlequah Daily Press (OK))
25 Sep 08 - Opinion: Bush legacy takes a turn (The Advocate -- WBRZ Louisiana)
24 Sep 08 - U.S. Debt could hit WWII levels (Toronto Star)
24 Sep 08 - U.S., examining a bailout, has boosted Debt before (Associated Press)
23 Sep 08 - Opinion: Our kids will pick up the check for our financial mess (Dallas Morning News)
4 Feb 08 - Bush proposes $3.1 trillion budget (Los Angeles Times)
27 Jan 08 - The State of the Union -- and its Debt (TheStreet.com)
Well worth a read.
www.suntimes.com/news/brown/1211538,CST-NWS-brown09.article
schemes are against the law and eventually collapse. This one is no exception. 700 billion is just a drop in the bucket at this late date so pull your boots up and tighten your helmet straps; this is going to hurt.
It's gonna hurt alright, but McCain acts like he doesn't have a clue. How could he with all his millions and his rich ass wife with her outfits worth thousands each! Granted, if she has the money, she's entitled to spend it, but it looks pretty tacky and without much intelligence to parade around in them acting like she's in a fashion show in front of audiences of people who are hurting and struggling just to make ends meet!
Too true.
Tell all the other punters on these pages not to even bother with these bums trying to become class prefect in November - it does not matter who becomes MR.PRESIDENT, he may have millions in the bank, if he does`nt lose it, but his role will be no more important to the US than the White House janitor. Come to think of it, the janitor is MORE important, since without him the WH would be swimming in shit. Rather like the country.
Forget that voting crap, it is totally irrelevant, go and give your bank manager a big kiss, HE is more important than these useless and lying fakes.
'Try the word forth, not fourth, '
Nope. fourth, fourth, fourth.
LOLOLOL Fourth is a number, a-hole. The word you want is forth.
Take your meds, headcase.
The comments back and forth here are unbelievable! These people need to get their own site as they sure don't bother to even comment on the subject - being too busy outdoing each other in the name and 'crap' comment department. The matter of AIG employees taking the luxury vacation where they spent thousands of dollars right after the bailout is too disgusting for words. It was reported they spent $23,000 in just spa treatments alone and $150,000 on meals among the other expenses! During Tues. night's debate Obama said the executives should be fired, and the cost of the trip should be reimbursed to the U.S. treasury. That statement alone would make me know where to cast my vote!! Americans were repeatedly told AIG needed to be rescued because it was 'too big to fail' - too big??? - one thing is certain, too big would apply to the egos of some at the top! Go Obama!!
'Take your meds, headcase.'
Again, parrot, the words are 'head' and 'case', and lashing out at everyone isn't going to help you stop being one.
'It was usually an effective tactic, another one of those tricks I had learned: (White) People were satisfied so long as you were courteous and smiled and made no sudden moves. They were more than satisfied, they were relieved -- such a pleasant surprise to find a well-mannered young black man who didn't seem angry all the time.' -- Barack Obama
'The government gives them the drugs, builds bigger prisons, passes a three-strike law and then wants us to sing 'God Bless America.' No, no, no, God d*mn America, that's in the Bible for killing innocent people. God d*mn America for treating our citizens as less than human. God d*mn America for as long as she acts like she is God and she is supreme.' -- Jeremiah Wright
All the catastrophic self inflicted economic cock-up threatening the life savings, jobs, homes and prosperity of the American people today will last another five years or more, IF it ever does get any better.
So hardship and real suffering is the top 'A la carte' item on the menu of the next Captain Calamity who inherits that great lump of concrete crap in Washington.
BUT ! wait for it ! At the same time as this Kamikaze economic doom grips us hard, there is a little rabbit tucked away in some Government building frantically writing out cheques as fast as he can. BUT, they are not to ease the agony of poor Americans - THEY ARE CALLED OVERSEAS AID !
How lovely, over 240 billion dollars every year to scumbag, despotic nations, lead by semi-savages who then spend it on enlarging their legions of military monkeys and equipping them with all the latest weaponry. Many use this miliary might to murder tens of thousands of their own people.
The people who survive this genocidal onslaught get nothing but sand, flies, disease, starvation and a big kick up the arse if they complain.
AND, spending countless millions on ensuring the luxury lifestyles of their thousands of administrative despots. Not a bit of gratitude in sight. I fact most of them would rather kill Americans or destroy American collateral, but they just love the generous handouts. THANKS YANKS.
If anybody knows where this White House rabbit lurks - PLEASE ! BLOW HIS BLOODY HEAD CLEAN OFF.
PS ; - ALL THIS IS GIVEN TO YOU WITH LOVE FROM GEORGE BUSH JR. AS A GRAND FINALE TO HIS WONDERFUL EIGHT YEAR REIGN OF DISASTEROUS LEADERSHIP.
Maybe in a US ditionary it ie two words. In an English one it is one word.
Lashing out at everyone isn't going to help you stop being one. Take your meds, headcase.
And the word you want is still forth, not fourth.
@Obama hates the US... etc
Why do you bother - it is obvious that posts such as these are orchestrated from the McCain blog committe who try to spread half-truths and rumors to try and hold on to their rapidly dwindling number of supporters. It is all too obvious - only the really dim or fanatically committed will be influenced by such rubbish
Where's he gonna get the hundreds of billions of $ to do it?
Ge'ez, I guess he could CREATE A NEW TAX ON EVERYONE and start taxing my employer provided health care ... wait.
He's already gonna do that!!!!
Looks like McCain will just have to add it to the $12,000,000,000,000 in national debt eh? (that's trillions folks!)
Then McCain says 'Fixing Social Security is Easy' ?!?!!??!!!????
IF it was that easy folks, it'd be fixed by now.
McCain knows nothing about the economy (he admits that) ... and now he wants to nationalize mortgages ... if that ain't socialism, I don't know what is.
That's your GOP candidate guys.
Sounds like you've got a drastic case of brainwashing! McGrandpa is getting to be the king of mudslinging to the point he's forgotten what the campaign is all about - oh well, figures!
Meanwhile, as the politicians like McCain say everything is wonderful, the Dow Jones Index is currently dropping through 9000 and is accelerating downwards
while the politicos play Nero. Fiddle about, fiddle about. My children play games that are more adult than the games being played in Washington and Wall Street.
is what I think of the campaigns now. I've voted since nothing I could hear would change my mind other than re-enforce the fact that I made the right decision.
@Obama hates the US... etc
'Why do you bother - it is obvious that posts such as these are orchestrated from the McCain blog committe[sic] who try to spread half-truths and rumors to try and hold on to their rapidly dwindling number of supporters.'
So you got all of that out of me posting Obamas own words?
Gee, you apparently see what you want to see. No wonder you are an Obama supporter.
Here:
'You got into these small towns in Pennsylvania... it's not surprising then they get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations.' -- Barack Obama
Does that sound like affection for our people pour our Constitutional Rights?
obama does hate the usa, just look at who his friends are.
October 07, 2008 (Abridged)
I think it would be an absolute cheap shot to blame the falling stock market on Wall Street's sudden realization that Barack Obama will very likely be the 44th president of the United States. But is fear of a potential Obama presidency playing any role at all in the weakness? How many investors, I wonder, buy into the theory of economist Peter Morici, hardly a conservative mouthpiece, who says, 'Obama's tax and redistribute policies will not resurrect jobs, wages, or the price of stocks in American retirement accounts. Ordinary Americans who have to earn their livings outside the cosseted confines of Wall Street will be not much better off two years from now. In fact, Obama's policies may make economic conditions worse.'
Now, it is an interesting economic experiment that we may be about to undertake: Do exactly the opposite of what we did as a nation the last time America was in deep economic trouble, coming out of the 1970s. It's like we are going to replay the 1980s, but with Ted Kennedy as president.
Let's compare and contrast for a moment. When Ronald Reagan was elected in 1980, he faced the following problems:
1) Confiscatory tax rates. Not only was the top rate 70 percent, but the brackets were not indexed for inflation.
2) Sky-high energy prices. Gas prices moved to $1.25 a gallon, twice what they were in 1976.
3) Credit market turmoil. Interest rates were about 20 percent, and housing was in the tank.
And look what our next president will have to face:
1) Confiscatory tax rates. The United States has the second-highest corporate tax rate in the world, with 70 percent of the burden falling on workers.
2) Sky-high energy prices. Anything lower than $100-a-barrel oil and $4-a-gallon gas looks like a bargain.
3) Credit market turmoil. As bad as anything we have seen since the Great Depression.
But in 1980, we chose to unleash the free market through lower taxes and less regulation. And the stock market boomed, as did the economy. In 2008, we may as a nation choose the opposite path by raising taxes on business, big and small, and on the financial markets through higher capital gains taxes. Also, regulation seems to be the new black. It's like that Seinfeld episode in which George decides to do everything the opposite.
Your brain and the economy are in free-fall.
....the best part: the media treats him just like Bush. That will be their mistake.
THERE ARE TWO OPTIONS HERE,
OBAMA,or a broken down middle class... in a country that has no world standing.
McCain has been spewing out lie after lie, half truths, and laying claim to policies he didn't orchestrate. Now he has his wife doing the same thing - making an ass of herself, and Palin needs to be ignored at any cost. One would think John has nothing of worth to say with the intensity he has given to mud slinging. Too bad, maybe inside all that muck, there might have been something - I repeat, MIGHT.
THERE ARE TWO OPTIONS HERE,
OBAMA,or a broken down middle class... in a country that has no world standing.
You just want Obama because you hate the Jews and you suspect he will sell out Israel.
You also know that Obama will drive the USA in to the ground. You can shove your 'world standing' (As if you spoke for the world) you bigoted clown, we don't need your approval.
Obama voted against a bill that would add penalties for crimes committed as a part of gang activity and against a bill that would make it a criminal offense for accused gang members, free on bond or probation, to associate with other gang members. In 1999, he was the only state senator to oppose a bill that prohibited early prison release for criminal sexual offenders.
Obama's big themes are Change Hope and Unity...I suspect that if he's elected, we'll hear much less about Change and Unity and a lot more about Hope. As in, 'I Hope this doesn't end in a huge disaster. I Hope he doesn't wreck the economy. I Hope he's not too overwhelmed by the complexity and horror of the world. I Hope I survive this administration.
You want Obama because you hate the jews,
Obama... WILL WIN . so you TAKE TOADS might need to start looking for work.
'Obama... WILL WIN '
It aint over 'til it's over, you bigoted moron.
It aint over ,til it's over you bigoted moran,
It is over so you might start weeping into your skullcap right now,
and yes the only way you will get back on WALL_STREET..is with a broom in your hand.
McCain's bumbling doesn't generate any confidence whatsoever, along with
Perky Palin who would serve better as a hockey cheerleader. The prospect of 'President' Palin would send chills down anyone's spine, and not in pleasure! All this back and forth with voting records is a waste of time. If we went back for years and drug out all the bills these candidates were involved with voting, you'd be surprised who did what. And besides, all the riders on them need to be taken into consideration while dragging them out. The more McCain slings the brown stuff in desparation, the more people are turning to Obama. Now he has his stiff, prim and proper, expensive, designer-clothes-horse wife spouting mud. If it wasn't so pathetic, it would be laughable.
And 'people like you' will hopefully catch something you can't get rid of. Hopefully it will eat you away from the inside. You are a proven liar and need something to take your mind off your butt buddy McSame. Good luck with the pain.
'You got into these small towns in Pennsylvania... it's not surprising then they get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations.' -- Barack Obama
Hey idiot stick. What is your point, this is a true statement no matter how much you want to spin the truth it is a true statement!
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