Dr. Shane Posted September 28, 2008 Posted September 28, 2008 Democrats have some talking points that go something like this. This crisis hit Main Street long before it hit Wall Street. However I don't see how they get there. We are in this crisis because low interest rates made money cheap which drove up the cost of homes AND because the government required banks to lend money to low-income buyers. The cheap money and the low-income buyers getting into the market caused the economy to boom. For much of the Bush Administration's years the economy was doing well. Unemployment was low, home ownership was high, wages were keeping up with inflation. The hardest hit has been gasoline prices which isn't a major factor in the financial crisis. Those that have been hurting on Main Street have been hurting due to fuel costs - not the banking crisis. The first step in solving the fuel crisis is drill, drill, drill. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
carolaa Posted October 1, 2008 Posted October 1, 2008 Finance Sector Gave 51 Percent More to House Bailout Backers The Center for Responsive Politics is reporting members of the House of Representatives who supported bailing out the financial sector have received 51 percent more in campaign contributions from the finance, insurance and real estate sector in their congressional careers than those who opposed the emergency legislation. [Democracy Now!] Quote
carolaa Posted October 1, 2008 Posted October 1, 2008 The fall of Washington Mutual and Wachovia leaves the nation with three superbanks: Bank of America, Citigroup and JPMorgan Chase. Quote
carolaa Posted October 1, 2008 Posted October 1, 2008 Senate to force House's hand on bailout By CHARLES BABINGTON and ANDREW TAYLOR, Associated Press Writers WASHINGTON - In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House. The goal is to net at least 12 more House votes than the rescue proposal received Monday, when lawmakers rocked the political and financial worlds by rejecting it....... http://news.yahoo.com/s/ap/financial_meltdown Quote
Moderators Bravus Posted October 1, 2008 Moderators Posted October 1, 2008 What a fantastic idea: commit the already dramatically in-deficit public purse to 700 billion in new expenditure and at the same time dramatically cut its inflows. Genius! Quote Truth is important
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 This whole things seems to give some insight into President Bush as the man. It seems Bush trusts in his advisers so much. And is so loyal to them. It seems like what President Putin said about him may have a lot of truth to it. President Bush is a good man but surrounded by "idiots". I think that explains a lot about his presidency. I believe Bush is a good and honorable man but has had some bad advisers and has made loyalty into a character defect. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
Moderators Bravus Posted October 1, 2008 Moderators Posted October 1, 2008 What was that sign on President Truman's desk again? Quote Truth is important
doctorj Posted October 1, 2008 Posted October 1, 2008 This whole things seems to give some insight into President Bush as the man. It seems Bush trusts in his advisers so much. And is so loyal to them. It seems like what President Putin said about him may have a lot of truth to it. President Bush is a good man but surrounded by "idiots". I think that explains a lot about his presidency. I believe Bush is a good and honorable man but has had some bad advisers and has made loyalty into a character defect. From where I sit, it seems President Bush is a bumbling country man with little knowledge of what will happen as a result of his decisions. True he has some very poor advisors, but also he seems to be a little out of his depth. Quote Make sure you have finished speaking before your audience has finished listening. -- Dorothy Sarnoff
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 Is that a "gotcha" statement? I am prepared to walk on the streets of gold with President Bush. I believe he is an honorable man and done what he believes to be right, just and good for this country. Unfortunately he is not perfect and doesn't walk on water. He has had some bad advisers which seems to be the case with this bailout. However in this case of the bailout... who is leading? President Bush? Ben Burnanke? Hank Paulson? Nancy Pelosi? Harry Reid? Barney Frank? Chris Dodd? From where I am sitting... I don't see any leadership happening in Washington from anyone. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
Moderators John317 Posted October 1, 2008 Moderators Posted October 1, 2008 They don't make 'em like him any more. I bet that sign hasn't been on any White House desk since the old man moved back to Missouri. Maybe there's one gathering dust somewhere in the basement. Quote John 3:16-17 For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life. [17] For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him.
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 he has some very poor advisors, but also he seems to be a little out of his depth. No one knows what to do! Last week Harry Read (Democrat Senate leader) said those exact words. Let's bare that in mind. No one knows what to do. The experts are guessing at what the best course of action is. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
Moderators Bravus Posted October 1, 2008 Moderators Posted October 1, 2008 It's just like the current situation in Iraq - the best way out is to have never gone in. All the alternatives from here are bad, it's just finding the least bad. Quote Truth is important
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 I don't see the comparison to invading Iraq - which is a completely separate issue. Not going into Iraq means what in regard to the financial crisis? Does it mean the Federal Reserve should have never lowered interest rates? That President Carter should have never signed the Community Reinvestment Act? How is there any comparison there? Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
Moderators Bravus Posted October 1, 2008 Moderators Posted October 1, 2008 One word: deregulation Quote Truth is important
carolaa Posted October 1, 2008 Posted October 1, 2008 What I don't understand is why Congress is suggesting upping the FDIC guarantee to $250,000 when the FDIC can only cover half the deposits it already insures. Upping the amount covered doesn't mean anything. Am I missing something? Quote
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 One word: deregulation Saddam could have avoided the invasion by deregulation? I guess I am missing the connection. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
carolaa Posted October 1, 2008 Posted October 1, 2008 Shane, he's not saying Iraq is the same situation as the bailout. I think he's saying that it's yet another situation we've gotten ourselves into that didn't have to happen. Quote
carolaa Posted October 1, 2008 Posted October 1, 2008 This whole things seems to give some insight into President Bush as the man. It seems Bush trusts in his advisers so much. And is so loyal to them. It seems like what President Putin said about him may have a lot of truth to it. President Bush is a good man but surrounded by "idiots". I think that explains a lot about his presidency. I believe Bush is a good and honorable man but has had some bad advisers and has made loyalty into a character defect. I'm not ready to be that generous, but I sincerely hope you are right and I am wrong. Quote
Dr. Shane Posted October 1, 2008 Author Posted October 1, 2008 Shane, he's not saying Iraq is the same situation as the bailout. I think he's saying that it's yet another situation we've gotten ourselves into that didn't have to happen. That is true. However in both cases our intentions were honorable and good. Hindsight is always 20/20. In the case of Iraq we were trying to make the world safer and acting on intelligence which was believed by over 30 different nations. In the financial crisis we were trying to help poor families buy their own home. in both circumstances the government's attentions were honorable and good. Unfortunately we don't have a crystal ball the tells us how things will turn out. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity
carolaa Posted October 2, 2008 Posted October 2, 2008 I suppose you really believe that. Oh well. Quote
carolaa Posted October 2, 2008 Posted October 2, 2008 Here is an interview with the winner of the 2001 Nobel Prize for Economics: http://www.democracynow.org/2008/10/2/nobel_laureate_joseph_stiglitz_bailout_wall Quote
carolaa Posted October 3, 2008 Posted October 3, 2008 Here's something really scary. This is what Richard C. Cook said 2 days ago: http://www.globalresearch.ca/index.php?context=va&aid=10413 Here is info on who Richard C. Cook is: http://www.richardccook.com/author.php Quote
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