With Election Day five weeks away, here is the state of the game in the presidential race: * Saturday Night Live's Tina Fey is more qualified to face Joe Biden in Thursday's vice-presidential debate than Sarah Palin is. * Some six percent of voters tell pollsters that they will not vote for Obama because of his skin color, but the number probably is higher. * John … [Read more...] about Election 2008: The State Of The Game
The 2008 Economic Crisis: How To Protect Yourself (Guest Voice Part III)
This is the last of three special Guest Voice posts on the present Wall Street economic meltdown by Mikkel Fishman, a TMV reader and frequent writer in our comments section who is also an author and computer scientist. Part I is HERE and Part II is HERE. This final part was written right before the House of Representatives defeated the bailout plan. The 2008 Economic Crisis: … [Read more...] about The 2008 Economic Crisis: How To Protect Yourself (Guest Voice Part III)
Wall Street Financial Meltdown: So Who Bailed On The Bailouts?
And now the "blame game" begins. Who bailed on the bailout? Who sandbagged a bailout bill that seemed on the verge of just passing? Who most contributed to what will go down in history of as a failure of Washington political leadership, leading to the stock market emulating the good ship Titanic? And where will the Titanic the economy go from here? Did the bailout … [Read more...] about Wall Street Financial Meltdown: So Who Bailed On The Bailouts?
Kristol and Kristof on McCain’s “Impetuousness,” and More
While Bill Kristol, in a September 29 New York Times Op-Ed, compliments John McCain for being impetuous---and encourages him to continue being so---Nicholas Kristof has a different take in a recent New York Times Op-Ed. As a former military, formerly fond of acronyms, Kristof’s use of the term “impish cubed” for “impulsive, impetuous and impatient” caught my attention. I … [Read more...] about Kristol and Kristof on McCain’s “Impetuousness,” and More
Cry Babies & Undistinguished Candidates
Phil Singer and Jay Carney are reminded of Newt. I found them via Marc Ambinder who spreads the blame around on his way to an excellent point: Speaker Pelosi gave a partisan speech at the wrong time; it's indeed possible that it cost her 15 votes. Still, if those Republicans had been of stronger backbones and more nimble minds -- and more mature than Pelosi, who, let's call … [Read more...] about Cry Babies & Undistinguished Candidates
American Taxpayers’ Revenge?
With plans for the biggest rescue of Wall Street since the Great Depression in tatters, the Dow Jones industrial average of shares dived almost 800 points, losing 7 per cent of its value, reports The Times. "It was the worst one-day points fall and the worst percentage fall since Black Monday in 1987. "American taxpayers, who will elect a new president in five weeks’ time, … [Read more...] about American Taxpayers’ Revenge?
Republicans Kill Bailout
Daryl Cagle, MSNBC.com … [Read more...] about Republicans Kill Bailout
Mary Poppins & Prudent Banking
Nalaka Gunawardene, the well-known Sri Lankan journalist, makes an interesting point as to why every banker should see Mary Poppins, the famous 1964 Walt Disney movie. As he says: "For it holds a very important and fundamental lesson for their profession: the need to win every customer’s trust and confidence... "The movie has many interesting scenes, but one that is … [Read more...] about Mary Poppins & Prudent Banking
The Financial Crisis and the Curse of George W. Bush: Le Figaro
Was President Bush born under an unlucky star? Philippe Gelie of France's Le Figaro ponders the unfortunate record of George W. Bush, and the way that today, at the end of his second term, he has been singularly abandoned by his own supporters, most of whom are up for election in November: "A kind of curse must be following George W. Bush. The president, who began his … [Read more...] about The Financial Crisis and the Curse of George W. Bush: Le Figaro
Economic Apocalypse: What If?
What if the stock market fell from 11,000 to 5,000? What if loose credit evaporated overnight? What if people who took outrageous mortgages and debt were sent back to a reset point? What if people had to rent a place to live and save up until they had a reasonable down payment and mortgage payments they could afford? What if some people lost their highest paying … [Read more...] about Economic Apocalypse: What If?
Bailout Reactions from Obama and McCain Camps
The Guardian contrasts public reactions from the two presidential candidates. The McCain campaign responded the way a lot of politicians responded today—by assigning blame (and taking no responsibility). The response from economic adviser Douglas Holtz-Eakin: From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was … [Read more...] about Bailout Reactions from Obama and McCain Camps
Behold: A Watershed in American Civilization – Le Figaro
Has America, 'abandoned all of its prior principles to a pragmatic state centralism based on tax increases'? According to Alexandre Adler of French Newspaper Le Figaro, not only has the Reagan model been effectively abandoned and the embrace of state-capitalism begun, the military phase of the war against terrorism is over - with one notable exception: "America is … [Read more...] about Behold: A Watershed in American Civilization – Le Figaro
Pointing Fingers
Well, fingers are pointing fast and furious about who is to blame for the failure to pass the bailout package. I wanted to pick up on one thing my fellow blogger Patrick Edaburn brought up in a recent post. He was not sympathetic on the reasoning of some Republicans who said they voted against the bailout because of Speaker Nancy Pelosi's speech: But if you see the bill … [Read more...] about Pointing Fingers
Congress Fiddles
Mike Lane, Cagle Cartoons … [Read more...] about Congress Fiddles
Tin Foil Hat in Crazytown: Why the Bailout Failed
You've read the headlines. You've seen the stories. The WHIPs didn't have control and a bailout bill which was supposed to pass failed. Why? Allow me to toss out some breadcrumbs for the masses. Every single poll has shown that the economy, more so than any other issue, is an area where voters seem to rebel against the Republican administration. It hurts McCain and helps … [Read more...] about Tin Foil Hat in Crazytown: Why the Bailout Failed
The Bailout Bill & Playing The Blame Game
It comes as no surprise that there was a steady drumbeat of partisan politics in the drafting of the $700 billion financial bailout plan that was defeated this afternoon largely because of defiant House Republicans. But both parties turned up the vitriol in the wake of the stunning no-confidence vote in President Bush and Treasury Secretary Henry Paulson, and global markets … [Read more...] about The Bailout Bill & Playing The Blame Game
Some Thoughts On Bailout Bill And Disgusting Partisanship
So the big bailout bill has been rejected, at least for now. I do expect to see the bill come up in some revised form over the next few days but the rejection and the stories circulating about it prompted me to write this post. Looking at the bill itself, I must admit to having mixed views on the entire bailout concept. People talk about how, if we don't bail out Wall … [Read more...] about Some Thoughts On Bailout Bill And Disgusting Partisanship
House Votes Down Bailout Bill, Markets Plunge
The House of Representatives a short while ago voted 228 to 205 against the bailout compromise worked out over the weekend. (It needed 218 votes to pass.). As CNN is reporting, "[a]bout 60% of Democrats voted for the measure, but less than a third of Republicans backed it." Quick notes: -- Kucinich was right. -- Bush is apparently "very disappointed" with the result. … [Read more...] about House Votes Down Bailout Bill, Markets Plunge
McCain on Veterans–Fact Check: Update
On September 27, I wrote a story, "McCain on Veterans--Fact Check." In it, I quoted a comment from a "Timr," who claims to be a 100-percent-disabled veteran---a claim we have no reason to doubt. The quote was: Sorry, but when McCain said he supported Veterans, he flat out lied…I am involved in the DAV-Disabled American Veterans(life member) and the VFW(Veterans of … [Read more...] about McCain on Veterans–Fact Check: Update
Guess What?
Outgoing Israeli PM Ehud Olmert says in an interview that Israel must withdraw from nearly all the West Bank and East Jerusalem in order to achieve peace, and says that the focus on maintaining control over particular "strategic" chunks of land as more important than reaching a permanent peace deal is misguided. … [Read more...] about Guess What?