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October 01, 2008

Comments

glasater

Sara had posted a link to an important video which was taken down but some clever soul put out and even longer one--ten minutes.

It's called The MouthPeace.

bgates

Disagree on 2. Let Maxine Waters or somebody howl about how the bailout is tantamount to returning to slavery, and remind the rest of us that whatever our misgivings if Maxine's agin' it maybe we should be fer it. Then have another few CBCers announce that they had been out to the left but Barack talked them back into the center, for the good of the country. "There are still provisions in this bill that I find distasteful, but Senator Obama convinced me that the seriousness of this issue demands that both sides make concessions so we can get this resolved," said Charlie Rangel during the phone call he was permitted by the FBI. Something like that.

If the CBC switches as a block, that might not help him, but if he can split a few of them off I think it helps his "bargainer" cred.

Pagar

Good Morning to All!

Here's a cheery note as the Wall Street Bailout debate continues:

CITI AND THE CITI FOUNDATION AWARD $1,000,000 TO THE NATIONAL COUNCIL OF LA RAZA.

"Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Nikko. Additional information may be found at www.citi.com"

Wonder if we can total the donations from these failed/Failing banking
institutions and get a trend?

LUN

bgates

Terrific news, Pagar! I had thought Citi was in financial trouble, but if they have a million dollars to piss away, the crisis must be over.

M. Simon

The House is not in session this week

Lori

Soros wants government to buy equity in US banks to solve the crisis. You think Soros will be the next Treasury Secretary if Obama's elected?
LUN

Pofarmer

The House is not in session this week

Can we keep em out next week too?

glasater

Soros is too old.

Thought this comment was just great--and it was from a school teacher:

I am a high school math teacher, and Fred Flintstone is exactly right. Whenever I see a student who is performing very well in class, I take ten points off his test and give it to the worst performing student. I figure the high-performing student is obviously receiving more benefits from society, school, and the other students. What else could account for his high achievement? This student needs to pay his fair share for these benefits, so I take the points. Maybe 10 points is not enough, though, because the gap between him and the bottom student is still a disturbing 40 points. Comment by teacher - July 2, 2008 at 9:56 pm
Neo

Right now, the markets are looking for relief.
But mark my words, only the stupid or truly evil will ever venture into the MBS market after this unwinds.

Extraneus

In case anyone missed his last few posts, Iowahawk has had some things say about the current situation.

bgates

only the stupid or truly evil will ever venture into the MBS market after this unwinds.
Who was there before?

sbw

Bankruptcy, Not Bailout, Is The Right Answer was an interesting read.

The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government. ... The right view of the financial mess is that an enormous fraction of subprime lending should never have occurred in the first place. Someone has to pay for that. That someone should not be, and does not need to be, the U.S. taxpayer.
The author, Miron explains the causes and the importance of not rewarding bad behavior, but he conveniently omits discussing who will be killed by shrapnel from the hand grenade that is his punishment.

---
In the comments, the two different observations by PeakTrader need summary and ventilation.

I'd be interested in the pithy comments of the local knowledgeable ecodudes. Tell me about the consequences of excess capital and how one rides it safely.

Ranger

Acording to The Corner, the agreement was for each caucus to produce 110 votes on the re-vote. That would mean a net loss of about 30 votes for the Dem side. If that is true, I don't see how Obama can spin that as a positive. He got involved and the Dems shed votes. McCain, on the other hand, can claime to have nearly doubled the R votes from his participation.

Neo

I still think this is too complicated for most simple folks (I don't mean the Amish).

The best example for simple folks is ..

imagine that the government started to circulate counterfeit $20 bills into the economy .. years go by .. one day the news comes out that there are billions in counterfeit $20 bills in circulation. Who will take your $20 bills ?
.. Now in our current situation, instead of $20 bills, it's securities made up of some number of bad mortgages made at the beckoning of the federal government.

But what I can't understand .. is why the federal government should get an equity stake ?

The federal government orchestrated this screw up, they should just make restitution. Until that happens, there won't be the proper level of outrage with the parties that let this go on. The whole "bailout" meme is merely a CYA exercise by the same politicians that let/made this happen in the first place.

bio mom

By the way. Just as a heads up. There are a string of just-released Quinnipiac state polls out that are ridiculously wrong in favor of Obama. Pay no attention to them. They show things like Obama up 8 in Ohio when 4 other polls taken at exactly the same time show McCain up 1 or 2 or Obama up 2 at best. The others are just as awful. So when Fox News, CNN, etc. start on them tonight, just turn off the television set. Remember: all polls are garbage and to be ignored no matter who is favored in them.

Jane

The Federal Govt isn't admitting it "orchestrated this screw up".

And I agree completely with your conclusion.

hrtshpdbox

"only the stupid or truly evil will ever venture into the MBS market after this unwinds.
Who was there before?"

Unknowingly, anyone who owned Citibank, Washington Mutual, AIG, Merrill Lynch, Lehman Brothers, Wachovia Bank....ad infinitum, ad nauseum.

DebinNC

Re the revote, the price of CBC votes is "foreclosure assistance".

"[Rep.] Baca dusted off a bill he introduced in late 2007 that would provide affordable, fixed-rate loans to people on the brink of foreclosure. [Rep.David] Scott suggested that 1 percent of the $700 billion be used to fund the program."

Extraneus

Gee, I'm surprised Drudge still has that up, and with a link to Malkin's NY Post piece, no less.

I wonder if Gwen Ifill will have to put out a statement. Her credibility is shot, and everyone already knows what a disgrace the MSM coverage of Sarah has been. Even Democrats know.

Maybe she should just pull out.

clarice

Whichever thread TGO is on, I'd like to share Glenn Reynolds response to the why doesn't Sarah hold a press conference blather:
"Sure, bring it on -- right after Obama takes questions from Bob Owens, Stanley Kurtz, David Freddoso, the Powerline guys, and Hugh Hewitt on the Bill Ayers/Annenberg business.
Oh, and maybe a discussion of his Columbia and Harvard transcripts. Only one candidate is being sheltered from tough press questions with the active complicity of the press."

Pagar

"Her credibility is shot,"
Is there anyone in the MSM or academics who has any credibility left? IMO, the American left thinks one can only be credible if one is completely in the tank for Obama.

ben

"They show things like Obama up 8 in Ohio when 4 other polls taken at exactly the same time show McCain up 1 or 2 or Obama up 2 at best."

The poll news is generally not good. GW Battleground State shows 48-46 Obama, pretty close, and McCain made up 5 points from that 9 point outlier last week ABC-WP, now trailing 50-46. But the trend is bad, Intrade now has Obama 64-35 a huge shift. McCain will have to fight the perception that Obama is inevitable as that takes away money and enthusiasm. Hopefully, the "econonomy bounce" Obama has (undeservedly) enjoyed will fade once the rescue package is approved and off the headlines. If McCain can keep the deficit at about 5 points through the rough patch he could easily come back.

bad

Maybe she should just pull out.

She lacks the integrity to do so and to demand she step aside would no doubt be labeled "racist."

Extraneus

"It simply is not fair - in law, this would create a mistrial. -- Greta Van Susteren

ben

I read one suggestion where Palin at the beginning of the debate says "Let's have a round of applause for our moderator, who will be launching a new book, The Age of Obama".

bio mom

ben, you have totally ignored my advice to ignore all polls. They are all crap.

M. Simon

Up? It is in big BOLD 72 pt type across the front page.

Pofarmer

Senate web server is SLLOOOOWWWW this morning.

Extraneus

She lacks the integrity to do so and to demand she step aside would no doubt be labeled "racist."

You know, there are a series of important inter-related events at present which could really change the race dynamic in this country. It would take some courage to point them out and connect the dots, however, which I'm not sure our society can muster, even in the interests of self-preservation.

ben

"ben, you have totally ignored my advice to ignore all polls. They are all crap."

It's good advice, I don't disagree, but let's face it we are a poll driven society and perceptions matter. Bad poll numbers discourage donors and volunteers. Taken as a whole they do provide trends, and right now Obama's trend is up and McCain's is down. I hope it can be reversed and soon.

clarice

This is the email address of Janet H. Brown, Executive Director of the Debates Commission in case readers want to let her know that they consider it inappropriate for Ifill to moderate tonight:

jb@debates.org

Ranger

Hmmm... could this be the October Surprise?

Via Drudge

http://www.washtimes.com/news/2008/oct/01/pelosis-pac-pays-bills-for-spouses-firm/>EXCLUSIVE: Pelosi paid husband with PAC funds

House Speaker Nancy Pelosi has directed nearly $100,000 from her political action committee to her husband's real estate and investment firm over the past decade, a practice of paying a spouse with political donations that she supported banning last year.

Unfortunately, I doubt the press will run a week of "culture of corruption" stories about this the way they did about the Rs in 2006. But, if this starts getting traction, I think it could really damage the Dems by November.

Either way, if this is true, I think she is toast as Speaker.

Ranger

http://www.washtimes.com/news/2008/oct/01/pelosis-pac-pays-bills-for-spouses-firm/>EXCLUSIVE: Pelosi paid husband with PAC funds

Jane

CITI AND THE CITI FOUNDATION AWARD $1,000,000 TO THE NATIONAL COUNCIL OF LA RAZA.

Pagar,

My broker is with Smith Barney which is part of Citi. I sent him your link this morning and told him I was considering removing all my money from SB because of this donation, and planning to tell everyone I referred to him, to do the same. (I won't and he knows it cause I like him too much) but he forwarded my email to his manager and I am expecting a call this morning.

Extraneus

Wow. That's a pretty long time for a front-page story to be on Drudge during the week. Gwen's mug still beating out stories such as Pelosi paid husband with PAC funds. Good for Drudge.

Jane

Ranger,

I posted that earlier. If Melanie Sloan is after Pelosi, something is up. Tis the beginning of the end for Madame Speaker.

Don

"ben, you have totally ignored my advice to ignore all polls. They are all crap."

That's actually only half stupid.

The half stupid part: Remember when polls showed Dems would take Congress in 2006 and Rove said he had his "own math", and it wouldn't happen.

The half non-stupid part: These polls are crap. They are understating how much Obama will kick butt. Just as in 2006 no poll said that every Republican challenger would lose.

Pofarmer

Taken as a whole they do provide trends, and right now Obama's trend is up and McCain's is down. I hope it can be reversed and soon.

What it means is that they are oversampling Dim's more than usual.

Pagar

Clarice, Don't forget Biden gets a pass because he is "avuncular". Who ever dreamed that up should ask Clarence Thomas?

"I’ll let Clarence Thomas tell the story, via his powerful memoir, My Grandfather’s Son:"

"Senator Biden was the first questioner."

"The senator, they found, had wrenched my words out of context. I looked at the text of my speech and saw that the passage he’d read out loud had been immediately followed by two other sentences: “But the libertarian argument overlooks the place of the Supreme Court in a scheme of separation of powers. One does not strengthen self-government and the rule of law by having the non-democratic branch of the government make policy.” The point I’d been making was the opposite of the one that Senator Biden claimed I had made."

LUN

IMO, people, who care about the truth,
will be surprised at how little truth will be forthcoming from Biden in the debate.

Pofarmer

Either way, if this is true, I think she is toast as Speaker.

Barbara Boxer directed BILLIONS to her
husbands company. I doubt anybody in the House get's too worked up over 100,000 over ten years.

Ranger

I posted that earlier. If Melanie Sloan is after Pelosi, something is up. Tis the beginning of the end for Madame Speaker.

Posted by: Jane | October 01, 2008 at 10:47 AM

I am hoping that McCain is just holding off on opening up on the Dem congress until after this "rescue" passes. I think, as I read somewhere else earlier, his best chance of winning at this point is to position himself as the only counterweight to an out of control and corrupt Dem house and Senate.

Jane

I was trying to find out who Barney Frank's opponent is in November and came up with this snippet from Newsbusters on Lou Dobb's interview:

Moreover, he could have asked Frank if his relationship with the former director of housing initiatives for Fannie Mae, a man Barney considered his lover, had anything to do with the congressman's view that everything was hunky-dory over there.

Charlie (Colorado)

No, Simon, someone forgot to update Boehner's website.

Christ. All these people talking about coming back Thursday...

sbw

TM: The bill needs more Democratic votes; whether it also needs a sweetener is up to Nancy.

Or up to the former Nancy. If it weren't for the distasteful reference to Bill Ayers and Bernardine Dohrn I'd say stick a fork in her; she's done.

Extraneus

Between the CRA, credit crisis, Rev. Wright's and Michelle's questionable patriotism, 2004 CBC Fannie Mae hearings, Obama's 95% polling among the race, Franklin Raines's $100M bonanza, Citi's donation, and now Gwen Ifill, how hard would it be to imagine a "blacks are taking over" meme forming in the minds of the electorate?

Careful, Obama.

Ranger

Barbara Boxer directed BILLIONS to her
husbands company. I doubt anybody in the House get's too worked up over 100,000 over ten years.

Posted by: Pofarmer | October 01, 2008 at 10:52 AM

Well, the difference is that this is transforming political controbutions into personal income, which is simply a bribe one step removed.

Pofarmer

All these people talking about coming back Thursday...

Nuts. Don't these people need to go home to campaign? Maybe Cancun for a nice vacation before the elections?

clarice

I can't even speak about how unfair I think the media has been without losing control.

Jane

Good New: Barney Frank has an opponent. LUN

Bad News: It took me 15 minutes to find his name.

clarice

Jane, that would be Moses, first name Robert IIRC.

Jane

Earl Sholly, Clarice.

Bio Under my name.

Franks district is all the wealthy Boston suburbs. Everyone is uber uber UBER liberal. This was Deval Patrick's base. I doubt he has a shot.

Pagar

Ranger,Pelosi is not the only one. Paying money to spouses is apparently a major part of the Democrat's play book.

"
Union paid millions to companies with family ties
An SEIU spokeswoman says there's nothing improper about the payments.
By Paul Pringle, Los Angeles Times Staff Writer
September 26, 2008
The Service Employees International Union's headquarters has paid millions of dollars to consulting firms, political nonprofits and individuals with family ties and other personal connections to some of the labor organization's top officers, records show.

One company partly owned by a union director also received more than $1 million in SEIU consulting fees."

"
* The SEIU and its political affiliate contributed $3 million to America Votes, an advocacy organization that was headed by Cecile Richards, wife of an aide to SEIU President Andy Stern, at the time the payments were made.

* Melissa Mullinax was an SEIU political director when the political consulting firm she held a 20%-to-25% stake in, The Edison Group, was paid more than $1 million, including expenses. In addition, the SEIU has spent about $41,000 on a graphic design company owned by Mullinax's husband, Jason Abbott.

* The union paid about $520,000 to a consulting firm co-founded by Democratic Party and labor strategist Steve Rosenthal, the husband of another SEIU director, Eileen Kirlin. Rosenthal, a longtime friend of Stern, also headed America Coming Together, a get-out-the-vote nonprofit that received $23 million from the union."

Read that last sentence again:
Where does a union get money to give $23 MILLION to a nonprofit organization?

Anyone want to guess whether unions (Or union backed causes)are going to get part of that Great American Bailout money?

LUN

DebinNC

"how hard would it be to imagine a "blacks are taking over" meme forming in the minds of the electorate"

I haven't seen a breakdown of what % of the bad home loans were granted to minorities via CRA, but if the bailout allows bureaucrats to lower loan principals in an effort to keep those folks in their homes, there should be a huge backlash from fiscally responsible voters who'll get no such deal.

Pofarmer

House website is also Sllooooowwwwww.

Der Hahn

Every one of the Dems knows that a vote for this plan is political suicide. That's why Pelosi needed Republicans in safe seats to vote yes so the most vulnerable Dems could take a pass on it.

The basic unpalatability of the plan is going to remain. The blue dogs are gonna go diabetic on her if she tries to sweeten this to bring on the CBC. The key is picking up enough of the CBC/La Raza gangs without losing the blue dogs in the process. Unfortunately, there are probably enough weak sisters in the Republican caucus that it might work.

Appalled

Some thoughts.

1. Don't look for much in the way of scandal stories from here to November. The media really does favor Obama. Though the spate of negative stories that suddenly appearing about Ms. Pelosi are interesting. Could some Dems who want to reestablish the good old days of a weaker speaking and stronger committee barons be undermining her?

2. 2009 will be a year of scandal. And it will most affect Dems, as malfeasence at Countrywide and Fannie will touch Senators and Congessmen. I think the folks affected are mostly Dems, but there will be pressure to make the scandal "bipartisan". (Either that, or the Bush admin will be investigated for war crimes.)

centralcal

Re: Ifill

I think she should stay as moderator. They would only replace her with another Obama supporter, anyway.

Ifill has Obama supporter stamped on her forehead for all to see and that is better than a replacement who has their forehead covered in pancake makeup.

Pofarmer

So, who didn't make payroll yesterday, or won't tommorrow?

SunnyDay

thehill.com - Soros has suggested a plan for Dem's consideration.

Cecil Turner

But, but . . . I thought the Dems were going to pass a bill by themselves with all the original crap back in it. Or . . . (what is the latest troll talking point now)?

MayBee

Jim Lereher is a moonbat and he did a great job moderating. Maybe Gwen Ifil will, also.

Appalled

Pofarmer:

And what did they pay in interest to secure funding? And what did everyone's ARMs and homeowner lines of credit adjust to for October? (ARMs tend to be based on LIBOR, not treasuries).

DebinNC

HotAir: Senate Bill pdf with added earmarks.

Fisher

RCP disaster this morning for McCain with these off-the-flipping-chart state polls from Q. For The One: OH +8, PA +15, FL +8. Laughable.

EV with no toss-ups now has Obama approaching 350.

On the bright side, it can't get any worse (I don't think).

If Mac is going to pull this out, he needs to wait until the bailout package is finalized and then unlease the mother-of-all-negative campaigns. I mean Rev Wright, Ayers and the Democrats bending over for F/F. I mean everything.

M. Simon

LIBOR is way up IIRC 2% up from the previous level. i.e. 200 basis points.

clarice

Jane, Moses was the boyfriend's name.
How is it that we are both surrounded by blues anyway?

Ann

If things weren't depressing enough for you, read Andy McCarthy at NRO today:

Obama's Funny Money, or Who's "Loving" "You," Barry?

Pofarmer

Pofarmer:

And what did they pay in interest to secure funding?

Hold on now, let's not go moving the goal posts. The talking point was, "OH, MY GAWD, THESE COMPANIES AREN'T GONNA MAKE PAYROLL, AND BUBBA'S NOT GONNA MAKE HIS TRUCK PAYMENT AND THE ECONOMY IS GONNA TANK, TANK, DO YOU HEAR ME TANK."

It's not

"Hmm, employers may have to pay an extra % or two for short term interest till this blows over."

M. Simon

Today's instruction to Cong. Critter:

Over 50 pages: kill it.

Over 25 pages: serious reservations.

M. Simon

BTW my Critter is in a safe R seat and he still voted no.

Extraneus

Jim Lereher is a moonbat and he did a great job moderating. Maybe Gwen Ifil will, also.

Not to be indelicate, but she'll have to bend over to do so now, which is fine with me. They should be forever tainted with the disgrace of their treatment of her and her family. It would be their just desserts for her to someday assume the presidency.

Appalled

My critter is in a safe dem seat, and voted "no" too.

bgates

he needs to wait until the bailout package is finalized and then unlease the mother-of-all-negative campaigns.
Yeah, he can do that right after Bush tears into Chirac for France's behavior in 2003, and gives a full-throated defense of Scooter Libby.

Appalled

If this thing does not pass, Pfarmer, we'll see how true that is. Credit markets are still factoring in a likely passage of the bill.

dking70

I want the same kind of deal Warren Buffet got in his Goldman Sachs investment. One of the few remaining pure Investment Banks.

Is this a good investment: Buying into a pure Investment Bank without all the lower growth operations that come with running a regular bank?

DebinNC

Senate offers sugar with bailout rx

centralcal

Hit (VIMH) gets another shout out from Dean Barnett at Weekly Standard!

Pagar

I can't think of a more cash producing business than McDonalds, maybe someone should look at where all that cash is going if they can't make payroll.

Pofarmer

Credit markets are still factoring in a likely passage of the bill

You can assume anything you want, but you can't outguess what the markets are thinking.

Neo

Pelosi is dumber than a spent condom

M. Simon

via above hotair link:

re: “the crisis”: My wife works for a bank that has conservative, diverse portfolio and has weathered the storm and is now shopping around for an acquisition. This week, their stock has gone up because they are considered stable and will get “flight to quality” deposits and new accounts.

The Chairman said he felt like a kid in a candy shop. He’s not looking to borrow trouble but is looking for the right fit for his bank.

We will get through this…

Mr_Magoo on October 1, 2008 at 11:57 AM

bgates

Dear Ms Brown,

I am writing to express my support for your decision to name Gwen Ifill as moderator for Thursday's debate. As a fellow author and journalist, I am confident that she will be every bit as impartial as I would be. In fact, if Ms Ifill feels it is necessary to bow out, I would be more than happy to fill in for her.

Sincerely,
Jerome Corsi

Pagar

Sunny Day, good to see your post.

"Soros has also contacted Sen. Barack Obama’s (D-Ill.) presidential campaign to share his views on the financial crisis and the best way to solve it."

Anyone want to bet that "share his views" is not exactly the correct wording.

LUN

Anyone want to bet who one of those who benefited from a market turn down was?

PaulL

InTrade odds are meaningless. They simply follow the polls. There is no sign of wisdom.

M. Simon

Soros thinks the government ought to buy bank shares.

Nationalization any one?

ben

"The half non-stupid part: These polls are crap. They are understating how much Obama will kick butt. Just as in 2006 no poll said that every Republican challenger would lose."

Hey Don, are you really Bob Shrum, who asked Kerry "let me be the first to call you Mr. President", based on exit polls. Or just a regular loser?

Charlie (Colorado)

I can't think of a more cash producing business than McDonalds, maybe someone should look at where all that cash is going if they can't make payroll.

Well, right now what they can't do is get cash from Bank of American for anything. Remember that McDonalds is a franchise operation, so the corporation isn't in that position.

All that's happening because of this is that thousands of franchisees can't get financing, so they can't go ahead with improvements, so contractors aren't getting contracted, millions of construction workers aren't getting hired, building supply companies aren't selling bricks.

Pagar

Some other things that might affect McDonald's business.

"
McDonald's CEO: Company will put full resources behind gay agenda

May 19, 2008
McDonald's has signed on to a nationwide effort to promote "gay" and "lesbian" business ventures.
According to McDonald's CEO Jim Skinner, McDonald's will aggressively promote the homosexual agenda. In remarks on McDonald's Web site concerning the company becoming a member of the National Gay & Lesbian Chamber of Commerce (NGLCC), Skinner wrote: "Being a socially responsible organization is a fundamental part of who we are. We have an obligation to use our size and resources to make a difference in the world...and we do."

The company gave an undisclosed amount of money to the NGLCC in return for being recognized as a major promoter of the homosexual agenda. In return, NGLCC placed Richard Ellis, vice president of communications of McDonalds USA, on the NGLCC Board of Directors."

LUN

I suspect some Americans still do not want this forced down their throat just to get a chicken sandwich.

Extraneus

I haven't seen a breakdown of what % of the bad home loans were granted to minorities via CRA...

I'd like to know that myself, but haven't been able to find it. Could we have possibly not heard about it by now if the percentage was low?

Here's a NYT article from 1996, about the important Federal Reserve Bank of Boston study which concluded that there racial discrimination was widespread in the banking industry, and specifically the mortgage business.

It was an important study, which led to some well-known results.

...the Clinton Administration intensified not-so-friendly efforts to persuade lenders to serve minorities. In one celebrated case, the Justice Department forced a suburban Washington bank that had few black mortgage applicants to open an office in a black neighborhood.

Even in this typical NYT article, the following fact was included:

Using the banks' own credit standards rather than those in the Boston Fed study, for example, seemed to eliminate race as a significant factor.

How about that? Fear of accusations of racism probably stymied all honest assessment of this apparently-flawed study, which helped lead to where we are today. Yet still, the (750-page?) bill fails to include anything resembling a systemic fix.

clarice

Well Starbucks is happy--the franchisees wanted all that money to put in coffee bars to compete with Starbucks which is plagued by too few folks wanting to buy $4 lattes on every street corner.
Not to deride your cascade effect argument, though--it is probably true.

Extraneus

Hey, look! There's an AP report on it:

Palin doesn't specify where she gets her news

M. Simon

All that's happening because of this is that thousands of franchisees can't get financing, so they can't go ahead with improvements, so contractors aren't getting contracted, millions of construction workers aren't getting hired, building supply companies aren't selling bricks.

Say the typical franchise has 100 employees. making $10/ hr. That is $40K a week to make payroll.

As to no bricks being sold? What are the odds they need any in a downturn?

BTW money from Europe is flooding into the USA because we are in better shape than they are. Har.

clarice

I suppose if there is a significant downturn Starbucks could cut out the competition by offering $1 lattes, couldn't they?

M. Simon

Rush just mentioned AT.

PeterUK

"Pelosi is dumber than a spent condom".

That is a very cruel and crude thing to say about your Senior Democrat politician.
You should not mock the afflicted.The fact is,after so many face lifts there was nowhere else to put the wrinkles but inside her skull.
How would you like to make the choice,looks or brains? I believe the surgeon is being pursued through the courts of law.

Sara (Pal2Pal)

And it is now 451-pages long. The path for ACORN money, Dodd's "Housing Trust Fund" is still absent, but there is lots of other pork. Courtesy of Ed Morrissey, here are a few examples of how seriously congress is taking this "crisis":

New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)

- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)

Tax earmark “extenders” in the bailout bill.

- Virgin Island and Puerto Rican Rum (Section 308)

- American Samoa (Sec. 309)

- Mine Rescue Teams (Sec. 310)

- Mine Safety Equipment (Sec. 311)

- Domestic Production Activities in Puerto Rico (Sec. 312)

- Indian Tribes (Sec. 314, 315)

- Railroads (Sec. 316)

- Auto Racing Tracks (317)

- District of Columbia (Sec. 322)

- Wool Research (Sec. 325)

Let's see, 451-pages. What are the chances any clown in congress has actually read the thing? The vote begins tonight at 730p ET.

Jim Ryan

Let's see, 451-pages.

The government is broken.

M. Simon

Here is the AT article Rush named.

Time to name names

Enlightened

On a personal level I would love to see Palin inject some really sarcastic humor into her debate style - something along the lines of "Dontcha know I choose my lipstick shade and get my news from SNL?" Kill two morons with one shot. And then follow that with "I apologize in advance for the vomit lapel pin - Trig vomits on the road and at home - darn it - I hope no one is offended by it. That covers the lapel pin issue and the Kathleen Parker whiners.

Come on girl - take some frikkin shots at these assclowns - for me PLEASE!

Extraneus

451-pages

I hope it goes down.

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