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Old 09-21-2008, 08:32 PM   #1
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Default Big White Elephant in the room...

Nobody has even touched this, although it's HUGE.

I'm disturbed by this petty garbage from the Democrats, and I want to bring it up. In the midst of the second biggest financial crisis we've faced as a nation, the Democratic leadership wanted to play the blame game and bury their heads like Ostrich's?
It's appalling!

http://www.ohio.com/news/nation/28821634.html

ANALYSIS
Financial crisis puts Democrats in bind Voters won't let them sit back and blame GOP. Threat demands swift action by both parties
By Julie Hirschfeld Davis
Associated Press

Published on Sunday, Sep 21, 2008
WASHINGTON: Democrats began last week with a you-break-it-you-buy-it approach to the financial crisis: It's President Bush's fault, let him fix it.
But disarray approached a meltdown and possible collapse of the entire economy. Only then did the Democrats, who control Congress, and presidential candidate Barack Obama pledge to work with Republicans on a bailout that the Bush administration puts at $700 billion.
They also are seeking help for the unemployed and people who are at risk of losing their homes. Bush is admonishing them that ''the cleaner the better'' for legislation he hopes Congress approves in the week ahead.
The turnabout reflects the political crosscurrents as both parties and their White House nominees confront the gravest threat to the American standard of living since the Great Depression.
Pelosi on board
House Speaker Nancy Pelosi, D-Calif., was an outraged spectator Wednesday when she said about the administration: ''This is their problem. This is their solution.'' A little more than 24 hours later, she was a grim-faced team player: ''We hope to move very quickly. Time is of the essence.''
The GOP, too, shifted its stand.
House Minority Leader John Boehner, R-West Chester, began the week railing against any more taxpayer-financed bailouts a sentiment GOP presidential nominee John McCain seemed to share and ended it promising to work with Democrats on just such a plan. By then, McCain had come out with his own proposal for a new government entity to take on bad debt from struggling financial institutions.
The financial crisis moved so quickly that it outpaced lawmakers' ability to keep on top of developments, much less develop a coherent strategy or message.
Democratic dilemma
For Democrats, it is a chance to highlight what they characterize as hands-off policies by Bush and the GOP that favor the wealthy.
Yet the crisis demands swift action for which Democrats, as the leaders of Congress, will bear a hefty share of responsibility. They do not relish being seen as complicit in a Wall Street rescue when voters are feeling an acute economic pinch.
''There's a lot of frustration among Democrats who view this cataclysm as the logical consequence of a philosophy of deregulation,'' said William Galston, a domestic policy adviser to President Clinton.
At the same time, ''does anybody really want to go down in history as part of the sand in the machinery that helped bring about the repeat of 1930?''
'Grave hypocrisy'
Rep. Barney Frank, chairman of the House Financial Services Committee, said Democrats cannot duck the issue after spending eight years hammering Bush for making end-runs around Congress.
''There have been people on my side complaining about executive overreaching, too much power for the executive. I think it would be grave hypocrisy to then sit back and . . . say, 'OK, you guys do it on your own,' '' said Frank, D-Mass. ''We can't be for . . . a two-branch operation unless it's a tough issue.''
Frank was the first lawmaker to float a possible solution, a government entity along the lines of the Resolution Trust Corp. of the 1980s that took over hundreds of failed savings and loans and sold off their assets before folding.
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Old 09-21-2008, 08:55 PM   #2
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Default Re: Big White Elephant in the room...

Your forgetting that it was McCain that said our economy is just fine....He supports Bushs plan..........Oh then that very day the stock market crashed 500 points.....(but were doing great says or republican candidate)
But we wont remember him giving a speech telling us the economy is fine will we?
Did he just not know how bad we are doing right now........Or was it just politics talking and the truth hit hard?

You can only tell a child so many time not to put his hand on a hot stove..........but once he does.. he has to handle the pain on his own..
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Old 09-21-2008, 09:00 PM   #3
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Default Re: Big White Elephant in the room...

Quote:
Originally Posted by BIGBENFASTWILLIE View Post
Your forgetting that it was McCain that said our economy is just fine....He supports Bushs plan..........Oh then that very day the stock market crashed 500 points.....
But we wont remember him giving a speech telling us the economy is fine will we?
Are you kidding me? This is WAY bigger than that. This is the Democratic leadership, the people pulling Obama's puppet strings telling us to let the GOP clean up their own mess, and, what's worse, this is 100% the Democrats fault as well! They are 100% complicent and culpable. They stood by while all this happened, and only feigned outrage when it got bad, and EVEN THEN, could only stomach their own hypocrisy for one day.

Disgraceful!
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Old 09-21-2008, 09:03 PM   #4
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Default Re: Big White Elephant in the room...

Quote:
Originally Posted by BIGBENFASTWILLIE View Post
Your forgetting that it was McCain that said our economy is just fine....He supports Bushs plan..........Oh then that very day the stock market crashed 500 points.....(but were doing great says or republican candidate)
But we wont remember him giving a speech telling us the economy is fine will we?
Did he just not know how bad we are doing right now........Or was it just politics talking and the truth hit hard?

Nope.

that isn't what he said. He said teh FUNDAMENTALS are fine... and he is right.

It is the equivelent of saying the body is fundamentally healthy... good heart, good lungs, in decent shape,

but the hypothermia that was caught is still very dangerous.


BTW.. that 500 point drop... it went away. Rebounded over the next few days.
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Old 09-22-2008, 09:31 AM   #5
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Default Re: Big White Elephant in the room...

I will give the Democrats some credit. They are right to demand that the bailout package contain some language limiting these greedy crooks from paying themselves huge bonuses in the midst of all this. But I'm still very angry that they are playing politics while we teeter on the edge of another depression.
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Old 09-22-2008, 10:25 AM   #6
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Default Re: Big White Elephant in the room...

I do like what McCain was saying in an interview over the weekend on 60 minutes.

When asked who's fault it was, he said it was Congress. Both Republicans and Democrats.

He called it honestly (though some politics was still being played, can't be helped at that level).
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Old 09-22-2008, 10:43 AM   #7
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Default Re: Big White Elephant in the room...

Obama, meanwhile (and somewhat inexplicably, I might add) blamed this directly on John McCain.
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Old 09-22-2008, 11:15 AM   #8
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Default Re: Big White Elephant in the room...

This campaign is making more and more sick. Luckily my 401k is not very mature and the economical hit over thelast few years hasn't affected me...
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Old 09-22-2008, 11:19 AM   #9
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Default Re: Big White Elephant in the room...

Didn't McCain in 2005 try to get legislation passed to regulate Fannie Mae and Mac better because he saw the writing on the wall for the financial crisis 3 years ago?

Yeah...I think he did.

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
http://www.bloomberg.com/apps/news?p...d=aSKSoiNbnQY0
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Old 09-22-2008, 02:39 PM   #10
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Default Re: Big White Elephant in the room...

Ruh-roh!
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