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September 29, 2008

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Steven W.

John McCain needs to start naming names.

matt

sometimes you need to throw out a ginormous number to shock and awe the markets. It's basically the nuclear option. Whether it will actually be that much, or even more, is the question.

Speaking witha friend in commercial RE development, he is just as concerned about that sector should the markets melt. So the fed is probably wise in the basics. Not a lot of people know the Street better than Paulson.

By the way, why are the Democrats so fixated on a tax? I don't think too many of these firms are going to be making a profit anytime soon, so what's the point except to score political points?

LindaK

The trouble with the Troubled Asset Relief Fund TARF) -- why not call it the Crappy Asset Relief Fund (CARP) -- is that it is more of the same strategy that has failed to allow price discovery, risk adjustment and relief to the credit markets. The banks are going to the Fed with all kinds of crummy collateral rather than borrow at LIBOR, which is high becuase the banks don't want to lend to each other. I'm not so sure the problem with mortage price discovery is lack of willing buyers, Citi just snarfed up WB, but unwilling sellers. However, Paulson and Bernanke have a lot more information than we have, so perhaps they are correct.

The other question I have is how come no one is talking about lowering corporate tax rates? Lower taxes reduce risk of investing capital.

Barbula

Bailout Bill fails in House!

Charlie (Colorado)

Right now it's losing in the House.

Right now the Dow is down by 500.

Charlie (Colorado)

Make that nearly 700.

hrtshpdbox

They say Pelosi gave a speech that was so partisan that some incensed Republicans begged off.

MayBee

Fox just said that House Republicans went "bezerk" when they heard Pelosi's partisan speech, and they may be happy to hang her with this failure.

I don't want it to fail, but Nancy "Unpatriotic" Pelosi is truly the Stupidest Politician in the World ™

DebinNC

Did Pelosi make another "unpatriotic" charge today?

michaelt

Cutting off the nose to spite the botoxed face?

clarice

If the Reps play this right they can win all three branches of govt..of course that would require gagging mcCain for 5 weeks.

Charlie (Colorado)

Fox just said that House Republicans went "bezerk" when they heard Pelosi's partisan speech, and they may be happy to hang her with this failure.

Except that CNBC is reporting it's the Repuiblicans's fault.

bio mom

That's a pretty big Democrat no vote too. Glad it didn't pass. Bad, bad bill. Now let's get down to business and do this right. Pelosi is just a political animal with very little brain power.

bio mom

And the stockmarket is like a spoiled teenager that throws a temper tantrum when it doesn't get its way. Good parents don't give in to teenager blackmail attempts.

clarice

Rush:"They're Browbeating 11 House members to get them to change the3ir votes."

MayBee

I want it to pass. I really really do. My way of handling this so far is to just not go online and look at how our 402(k) is doing.

Yes, they are going to blame Republicans for this. But Pelosi is an idiot, and she is 3rd in line for the Presidency.

PeterUK

"Cutting off the nose to spite the botoxed face?"

Believe me,the nose is better off out of there!

ex-democrat

how you fix a problem must relate to how the problem came to be. if only to the extent that it must be generally understood.
if Mac's team has any sense at all, they need to push that idea to the forefront, force a debate on the democrat fannie/freddie scandal, demand a repeal of the CRA, then sell the fix as necessary medecine.

with all due respect to charlie and others - many of us are being guilted into going along with fixes when the responsible parties are not properly held to account.

ex-democrat

oops: ** .. are tired of being guilted .. **

Charlie (Colorado)

how you fix a problem must relate to how the problem came to be.

If you bleed to death, treating your burns won't help.

Charlie (Colorado)

with all due respect to charlie and others - many of us are being guilted into going along with fixes when the responsible parties are not properly held to account.

Let's be real clear here: I'm not guilting anyone. I'm telling you that you're an idiot not to go along with it, and predicting that you are really really not going to like the outcome if this, or something like it, doesn't pass.

Really really not going to like.

If you feel guilty about being an idiot, that's your issue.

MayBee

401(k) obviously.
402(k) is wishful thinking. I'm lucky if it's a 104(k) at this moment. :-)

ex-democrat

"I'm telling you that you're an idiot not to go along with it.."

i normally get that kind of response from lefty trolls. congratulations.

Charlie (Colorado)

Ex-Dem, how long have you known me? When do you recall my language being intemperate and out of proportion to my actual feelings?

ex-democrat

charlie - was it me who accused you of being an "idiot" because we disagree?

ex-democrat

I want the credit crunch fixed, but I don't accept the inevitability of giving the dems the white house and a supermajority as well.

Sara (Pal2Pal)

Enlightened: Didn't you wonder why the Senate wasn't going to vote until after sundown on Wednesday? Rosh Hashanah is a high holiday for those of Jewish faith. Congress is always dark for this holiday and Pelosi knew it as did everyone else.

Sara (Pal2Pal)

Guys, there is absolutely no way, zero, nada, that ACORN will get put back in. They'd lose all the Repubs and even more Dems. It is silly to even speculate on that. The deal will be modified from where it is now, probably change the name and keep the guts pretty much the same. This whole debacle is due to a failure to communicate and bad PR.

Sara (Pal2Pal)

Watch how fast those constituents do an about face if the stock market falls another 500-700 pts tomorrow. Congress will be falling all over themselves to have a new vote.

whosonfirst

You can say what you want but it was a spectacularly bad bill. And those of you predicting dire consequences need to be reminded that nobody knows how this will play out.

glasater

...nobody knows how this will play out....

So true!! I've let my mind reading/fortune telling skills lapse.

StrawmanCometh

Sara and Charlie,
I believe we all agree this debacle requires federal action. But any response will be ineffective absent action against root causes and the public's understanding of root causes. While the CRA, Fannie, Freddie, Barney, CDodd, is widely discussed on the Right internets and by Rush, it has barely percolated with the muddle on the MSM. The dem's can roll on with the lies already out there, which have largely unchallenged by Bush or McCain. McCain could have won this election right there if he had let loose with this history at the first debate, 0bambi gave the opening more than twice.

Thomas Jackson

Ever notice that ghasty financial meltdowns are always the result of misguided government actions?

But we're from the government and we're going to demonstrate how a business should be run?

End laughter.

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