Comments on: Beyond the Bailout

By: kritt11

kritt11 — Wed, 10 Sep 2008 23:35:11 +0000

JSpencer nailed it.

By: DLS

DLS — Wed, 10 Sep 2008 21:26:08 +0000

Besides, why not add to what is someone else's ever-bigger problem next year?

http://www.cbo.gov/doc.cfm?index=9706

By: DLS

DLS — Wed, 10 Sep 2008 21:22:00 +0000

I hope Bush does veto it, on proper principle; such a bailout is wrongful. But this year, in particular, he won't. “Compassionate conservatism” will remove a weapon otherwise in Obama's hands with which to wrench Michigan electorate votes from potentially going the other way.

By: ChrisWWW

ChrisWWW — Wed, 10 Sep 2008 19:54:26 +0000

Pelosi and the Dems are already making “progress” toward the “security” of the Big Three in the form of government (taxpayer)-backed loans to them.

I'm sure the Republican president will veto it, right?

By: DLS

DLS — Wed, 10 Sep 2008 19:41:53 +0000

"straight talk about the role and size of government needed to keep Americans both free and secure"

Cradle-to-grave "security" (and entitlements); not rights and "duties," not mandatory volunteerism -- we all know what Obama wants in the way of change. I'm surprised he's not ambitious enough to propose federal corporate charters, installation of federal officials in company management or directorships, and new "rules" for "social responsibility". All these things and the size and scope of the federal government have been argued about for decades. (The additional matter of the legality of what so many want the federal government to do beyond what power has been granted to it under the Constitution and its amendments is too much for most advocates for activism to handle, or more often, tolerate.)

* * *

Pelosi and the Dems are already making "progress" toward the "security" of the Big Three in the form of government (taxpayer)-backed loans to them.

* * *

Bank failures and runs: I'm surprised the S&L bailout has been neglected so far when discussing the current bailouts, and Charles Keating mentioned, along with the scene with the old woman confronting him in or outside court: "Where's my money?" I guess too many are too busy actually _supporting_ this current bailout.

By: JSpencer

JSpencer — Wed, 10 Sep 2008 19:36:06 +0000

SD, at this point the bailout is required, there is no disputing that. Neither is there any disputing the truth of my post above.

By: superdestroyer

superdestroyer — Wed, 10 Sep 2008 19:24:41 +0000

Jspencer,

Maybe if the Democrats wanted to be consistent, they should say that they want out of Freddie mac and Fannie Mae now and without regards to the problems left behind. Government sponsored mortages are obviiously a quatmire that the U.S. should avoid.

I also wonder where the quote from Senator Obama would be that he was right all along on the Housing Market.

By: JSpencer

JSpencer — Wed, 10 Sep 2008 19:13:25 +0000

Privatize the profits and socialize the losses. It has this in common with the Iraq war no?

By: ChrisWWW

ChrisWWW — Wed, 10 Sep 2008 18:55:14 +0000

Senator obama was one of the top recepients of donations from Freddie and Fannie while trialing only other Democrats.

Like I said in another thread, if you can prove a pattern of voting that matches the allegations you're trying to make, then I'd be willing to listen.

Either way, the water is muddy on both sides. McCain's campaign has hired mortgage industry lobbyists.

By: superdestroyer

superdestroyer — Wed, 10 Sep 2008 18:41:10 +0000

Senator obama was one of the top recepients of donations from Freddie and Fannie while trialing only other Democrats. The Democrats have had two years in Congress and where were the hearings on mortgages. Also, too many Democrats have proposed opening the borders and increasing immigration and a quick fix to the downturn in the housing market.