Daniel, I would say something if I knew the answers, but I don't. I'm not a politician so I don't need to say airhead phrases like, "I'm gonna shake things up!". :::sigh:::

I think we're going to probably collect information on building shelters and finding food in remote locations, or farming and agriculture. You laugh now...

@GracieSpencer - 

Phil Gramm wasn't the problem. The problem is the Democrats put wording in the big banking bill that Gramm and others worked on that forced the banks to make loans to people who didn't qualify for them. It started under Carter and was called the Community Reinvestment Act. It was sort of toothless until the Democrats added teeth in the 90's.

It all worked because the banks could absorb the bad loans. But it started to crack as the economy grew and more people were buying houses. In order to comply with the law, even more people who had no business getting loans were getting them. Bush tried to rein it in 5 years ago, but the Democrats fought him.

Read "Root Cause" here:
http://directorblue.blogspot.com/2008/09/root-cause.html

And guess who Obama has on his payroll? Yep, ex-Fannie Mae people.

Here's a list of top DEMOCRATS from Fannie Mae. The number listed is their compensation from 1998 to 2003.

CEO Franklin Raines $90,128,761
CFO Timothy Howard $30,155,029
Vice Chair Jaime Gorelick $26,466,834
CEO Jim Johnson $21,000,000

Now consider: two of Barack Obama's key financial advisers are -- yep, you guessed it -- Franklin Raines and James Johnson.

The New York Times reported this five years ago:

"The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago."

"Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry."

"The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios."

"The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates."


The problem is the Democrats fought the clean up and thus we had the housing collapse that directly led into the current mess.

Liberalism and Democrats - again. They want to bring what they've done for DECADES to the inner cities to the rest of the country. McCain may not be perfect, but he's much better than Obama.

i like how we are simple enough to just equate republicans with screwing things up and democrats with making them better.

that's fairly silly.

also, note that i agree bush screwed things up. however, those two equations are ridiculous as generalities.

If you are blaming solely Democrats for this disaster, then you have already drunken the kool-aid. Take a look at how this country has consistently been run into the ground over the last 8 years, and the most fundamental principles that make it different from others totally trashed. It's been a cynical ride. Time for all sides to get real, there is simply too much at stake now.

Whatever McCain was four years ago, he is operating as something else now. It's a shame, because he had some moments, and he may again but I do not believe it will be as President. Promoting ignorance, even attempting to enshrine it as your VP, will only take you so far. Then again, I could be wrong. I just don't think so. It's a cycle, and it's come around again.

This particular bailout, however, isn't just a cycle. As Alan Binder, former vice chairman of the Fed's board of governors, noted: "We're deep into Alice in Wonderland's rabbit hole." We are doing things we have never done before, and doing it quickly and without many details being public. Lack of transparency -- sound familiar?

And finally, speaking of transparency and accountability, two things we might want to promote for a change, how about this gem:
----
Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Sec. 9. Termination of Authority.

The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.

-----

Sure, take our $700B at a time, up to who knows what amount total, and do what you will, with no review, for two full years. Brilliant.

Lets just stick to the facts.

Sarah Palin is the hottest of the lot...   

Not to mention, more experienced than Obama! LOL 

@Palin_is_HOT - 

Really. Is that the best you can come up with.

Because, it doesn't appear to be working. :)

@fjblau - 

Yeah, the Democrats in congress have done such a wonderful job over the last 2 years. Lower approval ratings than even Bush has, and not ONE of their promises kept. Not. One. Nothing on gas prices, Social Security, prescription drugs, health care, energy independence, college tuition, win/end the war in Iraq, border security, fiscal responsibility, alt minimum tax repeal, balanced budgets, killing earmarks, the 5 day work week or any of their other hollow promises. Again, research what Pelosi, Hoyer and the other Dem's had to say and then compare their list of promises with their list of accomplishments. VERY long list of promises, not a single one of them in the done column.

That's real "progressive" thinking now, isn't it. Go ahead and elect more of them. The less that gets done in Washington the better off we all are. I know you'll blame Republicans in Congress Frank. Go ahead. I didn't hear a single Democrat say, "if the Republicans will let us" when they were rattling off this agenda.

@dualsub2006 - 

You said "the Democrats in congress have done such a wonderful job over the last 2 years. Lower approval ratings than even Bush has, and not ONE of their promises kept. Not. One. Nothing on gas prices, Social Security, prescription drugs, health care, energy independence, college tuition, win/end the war in Iraq, border security, fiscal responsibility, alt minimum tax repeal, balanced budgets, killing earmarks, the 5 day work week or any of their other hollow promises."

You have to realize that the Democrats have been taken over by Modern Liberals. Modern Liberals do not have the same goals as most people and they are unlike the Liberals of years past. (In many ways, JFK would be considered a Conservative now!) It's all very hard to believe, but what has helped me is a talk by a guy named Evan Sayet. Evan used to write for Bill Maher. It's very, very good. You'll need some quiet time, but it is worth it. I've watched parts of it many times: http://www.youtube.com/watch?v=eaE98w1KZ-c

Now I know why the Modern Liberals don't really care about the issues you listed and why they seem to always choose the wrong path.

Emotional upheval in the market provides superb opportunities. After every crash there is always a small rally as emotions are tempered. Case in point.... bought AIG on Wed. @ $2.05, Sold AIG on Friday @ $4.21 - doubled the investment in two days. A lot of people made a lot of money to counter those that lost a lot of money. A fluctuating market with huge volumes provides opportunities, a stagnant one with low volume does not. That is what Wall Street is based on. That is the Capitalist way - Right or wrong.

"Go ahead and elect more of them."

Count on it.

Your ignorance of what it takes to actually pass a bill in congress is astounding. As if just having a majority was enough to pass legislation in a polarized country.

Oh well, you'll find out soon enough what a Democratic congress can do with a Democrat in the White House. For starters, undoing the disaster that was created by a Republican majority with a Republican in the White House.

Enjoy.

I believe the majority we will have, as well as the executive branch, will preclude Democrats from having to ask for your cooperation on much.

So um, thanks for playing.

@fjblau - 

Your desire to make everyone believe that you are the more enlightened and intelligent is admirable, but a waste of keystrokes. You would have the world believe that I am ignorant because I, as a conservative leaning moderate, can't understand why the Democratically controlled congress couldn't get a single one of their promises through while they managed to sneak this pile of meaningless horse shit past the Republicans and big bad Dubbya;

http://frwebgate.access.gpo.gov/cgi-bin/BillBrowse.cgi?dbname=110_cong_bills&wrapperTemplate=all110bills_wrapper.html&billtype=all

Including this VERY helpful resolution:

H.Con.Res. 8 (ih) Expressing the sense of Congress that the United States Postal Service should issue a commemorative postage stamp honoring victims of HIV/AIDS and recognizing the struggle to prevent and treat HIV/AIDS in the United States and throughout the world. [Introduced in House]

But >I< am the ignorant one and it takes a loud mouth, arrogant shit like you to tell me what I, and the all the rest of us need to keep your mythical contract alive and well. Well Frank, you would be in the 18% minority that somehow thinks that the 2 years of Democratic control in Congress has been a valuable and worthwhile struggle for the greater good against all that is evil in the world.

You keep going with all of your shallow and meaningless meanderings about contracts, ignorance and anything else that you like. Carter has already proven that every word coming out of Obama's mouth is a fail. Higher taxes, windfall profits, more government and fewer incentives to work and provide for yourself.

Your kind holds out Clinton as the last great bastion of "progressive" thinking, but if you look at his record he was more Kennedy like than even you are willing to admit. Obama is Carter in a much neater package with a lot more baggage and a lot less substance. Carter at least tried, Obama has no clue and neither do you. I do kind of hope that he wins. It would be fun to see you dry up and fade away. I'm sure that once he does you'll continue to tell me that I am ignorant to the process and that it is all Dubbya's fault.

"Your desire to make everyone believe that you are the more enlightened and intelligent is admirable, but a waste of keystrokes. You would have the world believe that I am ignorant"

You can join Tim at his altar of Non-Sequitur. And add in a homily on Ad-Hominem attacks.

"I do kind of hope that he wins. It would be fun to see you dry up and fade away."

Don't count on it, buckaroo.

And say, do you kiss your mother with that mouth?

"Well Frank, you would be in the 18% minority that somehow thinks that the 2 years of Democratic control in Congress has been a valuable and worthwhile struggle for the greater good against all that is evil in the world."

Funny, I never saw a poll worded that way.

I saw really low approval ratings for congress though. But I just figured it was because they were blocked from doing anything progressive and liberal by our constitutionally mandated legislative process. Silly me. But I am glad to see you noticed that Dubya and the GOP are pretty clueless about what they were doing/signing.

"Your kind... "

My kind? Thanks Joseph Goebbels. I have some relatives in Ohio that use the same language. Charming bunch. They also talk about putting "my kind" in "re-education camps". You'd be in good company in Ohio.

But yeah, we're going to pin a LOT of this mess on Dubya and his cronies for YEARS to come.

Democratically,

Frank

@fjblau - 

"And say, do you kiss your mother with that mouth?"

Not since she passed away on September 17th, 2006, but I'm certain that you weren't trying to hurt my feelings.

Keep pretending that the vote is over and that your side has already won. It makes me laugh.

"Not since she passed away on September 17th, 2006, but I'm certain that you weren't trying to hurt my feelings."

Correct.

"Keep pretending that the vote is over and that your side has already won. It makes me laugh."

There you go again with the Non-Sequiturs.

But I'm glad you're laughing. :)

Frank

@fjblau - 

Wait. Now I'm a book burner? That's really rich.

You are entitled to your opinion and I am entitled to think that you are an misguided, arrogant ass. If calling me a Nazi makes you feel better then I say have at it. At least you spelled Goebbels right. I don't want you re-educated Frank. The world is a lot less humorous without you and "your kind". I do share your opinion about Ohio and personally believe that it is the arm pit of society. I've found very few redeeming qualities about the place or it's people.

I could care less about Dubbya, his "cronies", what is or is not pinned on him or them, your opinion of me, the people that you attempt to associate me with, your failure to see logic in any opinion that conflicts with your own or any words that may fall out of your keyboard.

"You are entitled to your opinion and I am entitled to think that you are an misguided, arrogant ass."

You wouldn't be the first here.

:)

Here's how Bush tried to fix Fannie Mae and Freddie Mac five years ago and what the Democrats did to stop it:

http://directorblue.blogspot.com/2008/09/fannie-mae-new-york-times-rides-to.html

McCain isn't perfect, but he's far, far better than Obama.

Lets hear it from the people at Fannie Mae Directly:

McCain's Hypocrisy

Pretty much says it all.

@fjblau - Hmmm, it's funny that the person in your link didn't mention that Raines was kicked out and he had to pay millions in fines.

Face it, this whole mess is the result of Liberals and Democrats.  They are the ones who forced the banks to loan to people who didn't mee the requirements, they were the top people at Fannie Mae which was busted for Enron accounting, AND the Democrats in the House and Senate protected the whole scam.  This is why there are no huge hearings.  It's because the Democrats are at fault.

See Root Cause:

http://directorblue.blogspot.com/2008/09/root-cause.html

"Face it, this whole mess is the result of Liberals and Democrats."

I'll face nothing of the sort. And neither will the American people.

Americans Blame BUSH

But thanks for continuing the fine GOP tradition of abdicating responsibility for your actions.

@fjblau - Sorry, the wisdom of crowds is incorrect here.  I suspect CNN hasn't done it's job and explained 1) the Community Reinvestment act and how the Democrats pushed for even more forced loans to people who wouldn't normally qualify for them, 2) how the Democrats fought Bush's reform efforts, 3) how much money the Democrats who led Fannie Mae/Freddie Mac pulled out for themselves ($200+ million), and 4) how two of the top four people at Fannie Mae are top financial advisers to Obama.

That's why the public blames Bush: they don't have the information.  Now, what's your excuse?  ...because YOU do have the information!

See "Any Questions?" at http://directorblue.blogspot.com/2008/09/any-questions.html

And why won't the mainstream media report any of this?  This is why more and more people are ignoring corrupt outfits like CNN.