mcCain blames financial
Posted By: satinlizard on 2008-09-19
In Reply to:
crisis on Obama. Get that man a posey and some Aricept.
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Actually, McCain was in financial meetings all morning....sm
and what I read on CNN is that McCain wasn't told of the content of Obama's first call. I can't find the link to it now, because their news keeps changing.
I believe McCain decided this on his own, without any input from Obama, or even knowing about the call.
I'm willing to bet that he won't give a darn if he loses the debate if he doesn't show up, as it sounds as if Obama refuses to cancel the debate to another time.
Just proves to me that McCain does, indeed, put the country first. He's acting like a true leader.
Okay....let's see...McCain picked the financial meltdown...
as the #1 issue. OBama picked his run for the Presidency. Meaning he is always going to put Barack first. McCain put his country first. End of story.
UAW blames GOP.... sm
This, I think is pretty ridiculous.
http://www.foxnews.com/politics/2008/12/12/auto-workers-union-lashes-gop-senators-bailout-collapse/
I know everyone's focus is on the financial...sm
news of the last several days just heard about a special on CNN tomorrow night and Sunday where Colin Powell, Madeline Albright, Henry Kissinger, Jim Baker and Warren Christopher engage in a forum and talk about foreign policy. I heard a few sound bites and it sounds very interesting. I am glad to see a forum where respected people from both parties with experience get together and express their views, agree or disagree respectfully. I will definitely be watching.
A financial attack?
Tell that to the thousands who lost their lives or their loved ones that day. Wow, how cold can you be?
Financial bonuses
Two days ago on C-Span they seemed to congratulate the bigwigs of the financial companies who got BILLIONS in BONUSES. They ran down the list of those that were being questioned and how much they received. It's absolutely sickening. I had to turn it off.
I think most know that Air America has had financial woes.
Once it was learned that they had misappropriated monies which were supposed to have been used for charity, they lost some good backers. I would think it most probably is financial. There is not a plot behind every business dealing.
We have had our financial plan in order
for quite some time for just such a thing. We haven't spent foolishly or lived above our means. New toys and technology don't impress us much. We have been fortunate and blessed.
Well....buck up little soldier. I think the financial...
well being of the country trumps your party. Oh wait...what am I thinking.
I do agree with you about financial irresponsibility
they need to find some sort of middle ground ......
looked at her financial records lately?
she is definitely not a poor girl in my opinion. I think she could afford to buy her own clothes...
Financial crisis meeting;
November 14, 2008
World leaders dine in style as they discuss financial crisis
(CNN) – The global economy may be undergoing a significant downturn, but the White House's dinner budget still appears flush with cash.
After all, world leaders who are in town to discuss the economic crisis are set to dine in style Friday night while sipping wine listed at nearly $500 a bottle.
According to the White House, tonight's dinner to kick off the G-20 summit includes such dishes as "Fruitwood-smoked Quail," "Thyme-roasted Rack of Lamb," and "Tomato, Fennel and Eggplant Fondue Chanterelle Jus."
To wash it all down, world leaders will be served Shafer Cabernet “Hillside Select” 2003, a wine that sells at $499 on Wine.com.
The exceedingly pricey wine may seem a bit peculiar given leaders are in Washington to discuss a possible world financial meltdown, but Sally McDonough, a spokeswoman for Laura Bush, said it "was the most appropriate wine that we had in the White House wine cellar for such a gathering.
McDonough also said the White House purchased the wine at a "significantly lower price" than what it is listed at.
"Of course the White House gets its wine at wholesale prices," she said. "Given the intimate size of the group, it was an appropriate time for The White House to use this stock."
The leaders of the U.K., France, Russia, China, India, Brazil, Saudi Arabia, South Africa, Turkey and 11 developing economies have all come to Washington at the behest of President Bush in an effort to express confidence in the fundamental underpinnings of the world's economy.
– CNN's Becky Brittain contributed to this report
With the looming financial situation...... sm
I don't think Obama's current "plan" will hold much water. A plan is just that....a plan, and we know what John Steinbeck had to say about that. Even if he could tax the upper crust enough to cover the financial crisis, his redistribution of wealth would be moot point because there would likely be nothing left to distribute.
Whether Obama or McCain were elected would make no appreciabe difference in our tax situation because this huge bailout has to be recouped in some fashion and it will be off the backs of ALL Americans.....at least the ones who pay taxes.
No, unions DO put them in a financial hole.
nm
Right back at ya...with the addition of financial ruin...
if Obama and Biden are "hired."
Financial crisis a democratic scandal....sm
http://www.floppingaces.net/2008/09/16/financial-crisis-a-democrat-scandal/
Read all the comments underneath this, if you have time.
financial disaster, war, health care
You decide what is most important to think about.
How The Democrats Created The Financial Crisis....sm
How the Democrats Created the Financial Crisis: Kevin Hassett
Commentary by Kevin Hassett
Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.
Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.
But really, it isn't. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.
Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street's efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.
In the times that Fannie and Freddie couldn't make the market, they became the market. Over the years, it added up to an enormous obligation. As of last June, Fannie alone owned or guaranteed more than $388 billion in high-risk mortgage investments. Their large presence created an environment within which even mortgage-backed securities assembled by others could find a ready home.
The problem was that the trillions of dollars in play were only low-risk investments if real estate prices continued to rise. Once they began to fall, the entire house of cards came down with them.
Turning Point
Take away Fannie and Freddie, or regulate them more wisely, and it's hard to imagine how these highly liquid markets would ever have emerged. This whole mess would never have happened.
It is easy to identify the historical turning point that marked the beginning of the end.
Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable interpretations.
Then legislative momentum emerged for an attempt to create a ``world-class regulator'' that would oversee the pair more like banks, imposing strict requirements on their ability to take excessive risks. Politicians who previously had associated themselves proudly with the two accounting miscreants were less eager to be associated with them. The time was ripe.
Greenspan's Warning
The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. ``We are placing the total financial system of the future at a substantial risk.''
What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.
Different World
If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.
But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.
That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''
Mounds of Materials
Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.
There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
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?pid=20601039&refer=columnist_hassett&sid=aSKSoiNbnQY0
I am not in favor of the financial institution bailout either..... sm
I think it was just the first in a long line of folks parading to the White House with their hands out. I think we have opened a huge can of worms by bailing them out and there does not seem to be an end in sight.
I'd sure like to know when MTs are going to get their bailout! I'd probably get in line for that one! LOL
25 people to blame for the financial crisis
You can vote on each of these.
http://www.time.com/time/specials/
I'm sorry, you are aware of what caused the financial crisis aren't you?
or you will just blame BUSH BUSH BUSH/CHENEY.
Please, do some research.
If my memory serves me, it started going downhill when a democratic congress took over.
Not only that, this MORTGAGE crisis was set into effect by the CLINTON administration and helped by a DEMOCRATIC congress.
Now let me be clear, I do not think Bush was a great president and he made mistakes, but DO NOT tell me that this financial crisis was his doing. I know you are going to flame me, but don't ignore the facts! Actually, that's what liberals do so nevermind, go ahead anyway.
I agree. I am helping the victims with all the financial support I can spare BUT
if we don't ask the question what happened to the levees, what can we do to make sure this doesn't happen again, where did the funding go? then we will find ourselves in the same position again. We can not afford to be policing other countries when the funding is bankrupt for our own needs. That's just the truth.
Best friend to Hillary, a democratic supporter and financial contributer,
a member of the DNC's (Democrat) platform committee has decided to endorse John McCain. Lynn DE Rothchild is best friends of Hillary and gave her 100,000 for Hillary compaign. She had not even spoke to Hillary yet about her news, but Lynn announced on CNN today that she was resigning the DNC and voting for McCain. Lynn stated that our country is divided due to the Democrats and Congress. She also stated that we need to vote only for the president who will get us through what is going on with our country (which is a lot of things currently) and she stated the only one would be McCain and Palin. She stated, "I care more about my country right now than I do my democratic party." Wolf Blitzer stated to Lynn "You know you are are going to get a lot of flack from this?" Lynn stated that she knew this and just cares more about our country. Even Joe Lieberman endorses McCain who used to be AL Gore's running mate. I am sorry, but I agree that our country is divided.
war, depression, recession, collapse of financial system, people losing
homes, natural disasters unattended to, collapsing bridges, earmark bridges. Address those first, save flag for later.
who could possibly care? War, financial ruin, health care needs.
nm
Why are you McCain people so desperate? You are just like McCain. No plan. Just criticism of the
other candidate. I guess you want the same old thing we have had for the past 8 years. God forbid McCain win with that wild woman, Palin.
McCain
Not only will he refuse to get out of Iraq unless there is some sort of clear victory, even if it takes "100 years" or "1000 years" (his words), jokes about how to handle Iran is "Bom, bom, bom, bom, bomb Iran" (to the tune of a Beach Boys song), he also wants to kick Russia out of the G8 and not let China or India in. Way to place nice with the up-and-coming superpowers - I'm sure that will do great things for our country in years to come.
There are certain things I like about him (strict belief in Geneva Convention, willing to work across party lines), but his warmongering side scares the you-know-what out of me.
McCain's age
Whether his military uniform helps his image depends on what kind of world we want to be living in tomorrow, not the one we live in now. A lot of people will be showing up at the polls to say that status quo is not acceptable, especially when it comes to solving problems by waging wars. Concerns over his age, senility and/or Alzheimer’s are legitimate if you do the math. Those possibilities are very real and could just as easily happen early in his term as later. He has shown some early signs like his problems with word retrieval, mispronunciation, confusion, forgetting what he is saying and blank staring spells.
The teleprompter comment is also kind of a cheap shot. Besides that, it is not true, unless you believe everything you hear on Fox or YouTube. He is an excellent orator and delivered very spontaneous and inspiring responses in the town hall meetings during the primaries and in news conferences. YHe is a much better speaker than McCain.
McCain....you mean
I can't believe anyone would vote for him after what Bush just did to us for 8 years.
Well, McCain's gas in his car came from
oil from a country that supports terrorism. McCain a supporter of terrorism? You can interpret this any way you like.
if McCain gets in
that will be the tenor of the New Secretary of State.
Why McCain?
http://www.johnmccain.com/Undecided/WhyMcCain.htm
McCain looks
like he hurts. It makes me uncomfortable to watch. Obama has a significantly larger amt of data in his mind (constitutional law professor, etc) to sort through, gather, and assemble before he responds to a question. It is to his favor that he does not immediately yelp out an answer like a trained seal.
Thank you. I think McCain's age ... sm
Is what worries me so much about this situation. I mean, people die at different ages, it's true, but if McCain were 20 years younger, I don't think I'd be quite as worried. But he's 72, has had skin cancer several times, and I read (haven't verified) that both his father and grandfather died suddenly of heart attacks when they were younger than he is now. Now that might not mean anything. After all, isnt' his mother in her 90s? But it just worries me. It would be different if he wanted Palin to have a cabinet position where she could, I don't know, hone her skills, cut her teeth in Washington, so to speak, but to put her is a position of leading our country if something happens to McCain? It just makes me very nervous.
Oh, of course. McCain will get the best...sm
Healthcare. Too bad for the rest of us peons though!
Still, the best healthcare in the U.S. can't turn back time and make him young again. He is really getting up there, and the campaign must be wearing on him. I don't know how any of them can stand all the travel that comes with campaigning.
The New McCain!
The Ugly New McCain
Wednesday, September 17, 2008; Page
Following his loss to George W. Bush in the 2000 South Carolina primary, John McCain did something extraordinary: He confessed to lying about how he felt about the Confederate battle flag, which he actually abhorred. "I broke my promise to always tell the truth," McCain said. Now he has broken that promise so completely that the John McCain of old is unrecognizable. He has become the sort of politician he once despised.
The precise moment of McCain's abasement came, would you believe, not at some news conference or on one of the Sunday shows but on "The View," the daytime TV show created by Barbara Walters. Last week, one of the co-hosts, Joy Behar, took McCain to task for some of the ads his campaign has been running. One deliberately mischaracterized what Barack Obama had said about putting lipstick on a pig -- an Americanism that McCain himself has used. The other asserted that Obama supported teaching sex education to kindergarteners.
"We know that those two ads are untrue," Behar said. "They are lies."
Freeze. Close in on McCain. This was the moment. He has largely been avoiding the press. The Straight Talk Express is now just a brand, an ad slogan like "Home Cooking" or "We Will Not Be Undersold." Until then, it was possible for McCain to say that he had not really known about the ads, that the formulation "I approve this message" was just boilerplate. But he didn't.
"Actually, they are not lies," he said.
Actually, they are.
McCain has turned ugly. His dishonesty would be unacceptable in any politician, but McCain has always set his own bar higher than most. He has contempt for most of his colleagues for that very reason: They lie. He tells the truth. He internalizes the code of the McCains -- his grandfather, his father: both admirals of the shining sea. He serves his country differently, that's all -- but just as honorably. No more, though.
I am one of the journalists accused over the years of being in the tank for McCain. Guilty. Those doing the accusing usually attributed my feelings to McCain being accessible. This is the journalist-as-puppy school of thought: Give us a treat, and we will leap into a politician's lap.
Not so. What impressed me most about McCain was the effect he had on his audiences, particularly young people. When he talked about service to a cause greater than oneself, he struck a chord. He expressed his message in words, but he packaged it in the McCain story -- that man, beaten to a pulp, who chose honor over freedom. This had nothing to do with access. It had to do with integrity.
McCain has soiled all that. His opportunistic and irresponsible choice of Sarah Palin as his political heir -- the person in whose hands he would leave the country -- is a form of personal treason, a betrayal of all he once stood for. Palin, no matter what her other attributes, is shockingly unprepared to become president. McCain knows that. He means to win, which is all right; he means to win at all costs, which is not.
At a forum last week at Columbia University, McCain said, "But right now we have to restore trust and confidence in government." This was always the promise of John McCain, the single best reason to vote for him. America has been cheated on too many times -- the lies of Vietnam and Watergate and Iraq. So many lies. Who believes that in Afghanistan last month, only five civilians were killed by the American military in an airstrike, instead of the approximately 90 claimed by the Afghan government? Not me. I first gave up on the military during Vietnam and then again when it covered up the death of Pat Tillman, the Army Ranger and former NFL player who was killed in 2004 by friendly fire.
McCain was going to fix all that. He was going to look the American people in the eyes and say, not me. I will not lie to you. I am John McCain, son and grandson of admirals. I tell the truth.
But Joy Behar knew better. And so McCain lied about his lying and maybe thinks that if he wins the election, he can -- as he did in South Carolina -- renounce who he was and what he did and resume his old persona. It won't work. Karl Marx got one thing right -- what he said about history repeating itself. Once is tragedy, a second time is farce. John McCain is both.
cohenr@washpost.com
or like when McCain said . . .
Obama called her a pig and then on Monday said he didn't
it has to do with McCain and
Bush systematically deregulating (savings and loans - Keating 5) and wall street so that the souless corporations can do whatever they want without any limits. they have removed the safety factors built into the system after the great depression. Well, now we have the situation that deregulation brings. As Romney said at this years' repub convention - McCain is going to go at all the regulations on industry with a weed wacker.
McCain
Respecting his service to his country is one thing. He is only one of thousands who have done the same thing. or worse, died for their country, and are just as deserving of being honored as McCain. Trusting him to lead this country is another thing entirely.
Seeing as McCain may not . . .
live out his term, she is running for the top spot.
Does McCain even know what he is saying.
Maybe he had better hit the beach with the flip-flops.
http://www.youtube.com/watch?v=GEtZlR3zp4c
http://www.youtube.com/watch?v=ioy90nF2anI&feature=PlayList&p=2F671A7FEF92B36B&index=3
http://www.youtube.com/watch?v=pK_9sI7hzAc&feature=PlayList&p=2F671A7FEF92B36B&index=10
He said, he said. I believe what McCain said,
you believe what Obama said. McCain said he told Obama he was going to suspend his campaign and when Obama spoke just now he stated the same thing, only says "I didn't know he meant it now" or some such. I don't buy that. He just didn't think McCain was serious. Turns out he was.
Can any McCain fan or Rep. tell me why
McCain has supported legislation to give tax breaks to companies that outsource jobs? I'm asking because I don't know. I figured you guys have read a lot of his stuff and thought you might know off the top of your head. I could always try to find it but am finding myself lazy tonight  and thought someone might be in the know without having to Google it.
And you think McCain is going to do any better?
What a mess!
Oh and saw on the news that this bailout will affect even the people who do live within their means because it means that the Jones' house that gets foreclosed on will reduce the amount my house is worth and therefore I lose too! Something needs to be done and quick!
It is not fair to simply point out Obama's plans when you do not mention McCain's either. What are McCain's plans? All he seems to do is "knock" Obama. Oh better consider what Palin has to say too, you know McCain is getting no younger or any healthier for that matter.
McCain
Someone with character....hmm. You best not vote then.
McCain
Typo in my name. Still feel the same way though!
McCain Ex
Oh, yes, I read what you quoted from the article. My question is, do you believe EVERYTHING you read? Might be a good idea to apply some common sense. I know a lot of ex-wives who had husbands who kicked them to the curb and not ONE of them would speak in such kind and loving terms about the ex 'who dun 'em wrong." I'm not an ex-wife (widowed) but I can guarantee you that if my husband left me for another woman for ANY reason, he would regret the day he was born. I doubt I'm much different from any other woman.
I don't believe McCain is
trustworthy either, old-timer.
McCain that is nm
x
McCain
McCain seems to be nothing more than the leader of an angry mob. He and Palin have done nothing constructive for us in this campaign other than incite people's anger. Something bad is going to happen because of the rehoretic that they are supporting from their base. I think that they should be very put off by some of the comments that their crowds are shouting and I am ashamed that more of the public is not angered by it.
McCain
I felt some respect for McCain when I saw a few minutes ago an elderly woman questioning him about Obama and he said "he is a decent man, a family man." The lady asked about him being a "terrorist" and McCain said, "No, No m'am, he's not." He walked away looking liike an old, defeated man. I even felt some sympathy for him. So all this terrorist stuff was obviously a lie, donchaallthink?
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