May be what he's remembered for?

Dear Lord, let this be a good speech.

Ok, let's see if he mentions asking Obama to come for a meeting.

Bret Baer saying Obama has agreed to come for a meeting tomorrow.

I'd just like to go on record that I think Obama is a putz.

There he is.

I work in the financial markets...

my clients are allocated well, and haven't been too affected by this, but jeez, if we get into a depression, it will be very suckish.

re: #4 HelloDare

I'd just like to go on record that I think Obama is a putz.

Second.

Wearing a red tie, signifying that if something doesn't happen this week, that's where the stock market will be - in the red.

"We are in the midst of a serious financial crisis"

Straight talk

I like Killlian's No. 92 on the previous thread.

[Link: littlegreenfootballs.com...]

Oh shit...I keep getting collect calls from the Harris County jail...who the hell gave them my number?

Whiskey
Tango
Foxtrot!

He looks better than he has for a long time.

So far, I think he's being clear and laying it out well.

BS, it's socialism!

re: #8 Intrepid

Wearing a red tie, signifying that if something doesn't happen this week, that's where the stock market will be - in the red.

No, silly. It's a secret message to everyone to turn their state into a red one. Didn't you read the latest dispatch from Commander Rove?

Bush looks ill, but he's speaking well. Looks like salaries and bonuses for some of the upper echelons of business might be frozen.

Tell it straight, Mr Pres. Time to speak strongly, and forcefully.

Now Obama's going to go to Washington, for a high-level meeting with the President.

Also attending will be John McCain, and the Congressional leaders of both parties.

Obama's swimming upstream now. The grand dem dream of blocking action is dissolving in the mist.

How did we reach this point...Freddie, Fannie and crooked politicians. Erm, sellingour paper to our enemies. Over spending on things we can't possibly pay for.

I could go on...

Why doesn't he nail the Democrats' refusal to stop the bleed?

re: #16 livefreeor die

Dang, I think my filter thought it was junk mail.

easy credit

He's gotta mention the chief reason for this fiasco: 'An Equal Opportunity Lender'.

There's a weird little background noise.
A kind of creaking?

How did it reach this point?....because the corrupt politicians INSISTED that people who were unqualified receive loans for houses they couldn't afford receive the loans....and they insisted on giving loans to illegal aliens!.

It's not the falling housing values that caused the problem, it was the bad loans.

re: #12 The Pulchritudinous Patriot

Oh shit...I keep getting collect calls from the Harris County jail...who the hell gave them my number?

Whiskey
Tango
Foxtrot!

Aren't you even curious who is trying to make bail?

Not stating how changes in regulation mandated by Congress created low standards in lending for ARMs

This editorial explains exactly how we got here.

re: #21 MandyManners

Why doesn't he nail the Democrats' refusal to stop the bleed?

I agree. Why does he always have to be so conciliatory, especially when they just take advantage of it?

re: #28 really grumpy big dog Johnson

Aren't you even curious who is trying to make bail?

HELL no!

re: #25 Occasional Reader

There's a weird little background noise.
A kind of creaking?

I think it's Hillary Clinton trying to break in to the Oval Office.

Help pay for the bailout by killing foreign aid.

He ought to hammer the dems on their obstructionism.

Listen up, Obama. You'll learn something.

re: #24 Abu Al-Poopypants

He's gotta mention the chief reason for this fiasco: 'An Equal Opportunity Lender'.

No, he really doesn't, not now. If he turns this into a partisan pie fight, we're in trouble. (And he won't.) This is not the time.

re: #21 MandyManners

Why doesn't he nail the Democrats' refusal to stop the bleed?

It would be very dangerous to get into politics right now. We are dealing with children armed with crucial votes. They can be spanked later.

re: #25 Occasional Reader

There's a weird little background noise.
A kind of creaking?

Sounds almost like wind blowing through the East Room...

Or some sort of ghost.

re: #26 grahamski

How did it reach this point?....because the corrupt politicians INSISTED that people who were unqualified receive loans for houses they couldn't afford receive the loans....and they insisted on giving loans to illegal aliens!.

Screwed that up, but you get the idea...LOL

re: #30 Dahveed

This editorial explains exactly how we got here.

The President Of The United states is doing a fantastic job of explaining it now.

re: #39 Intrepid

Sounds almost like wind blowing through the East Room...

Or some sort of ghost.

It's Reagan rolling over in his grave.

I think he's rubbing his hands on the lectern.

re: #25 Occasional Reader

There's a weird little background noise.
A kind of creaking?

He's badly miked. That's W's breathing, I think.

re: #27 HelloDare

It's not the falling housing values that caused the problem, it was the bad loans.

Agreed, the falling house prices are because of the bad loans and the turtle-shelling of the loan industry.

re: #15 grahamski

BS, it's socialism!

grahmski -

The powers that be are "pimping" it as a "workout" or "restructuring." If they are right, it will be like the RTC. If they are wrong - it won't matter anyway.

-S-

re: #11 MandyManners

I like Killlian's No. 92 on the previous thread.

[Link: littlegreenfootballs.com...]

Killian's a wise person and everyone says we need it, but I'm still mad as hell. I'm saving to buy a house and I pay my bills. I don't need more of my money taken to give liquidity to an irrational market. Let's take the sharp shock now and get it over with, instead of putting socialism in place.

Pres Bush is doing a good job of explaining this.

I have been in real estate sense 1981 bean there done that, this is nothing new,

it's a pyramid scheme.

I've been a car dealer for 14 years and these people have no one to blame but themselves for their bad credit. So many deadbeats out there.

re: #50 nyc redneck

it's a pyramid scheme.

yup

BRB listening...good explanation he's giving.

He seems to be laying this out pretty well.

re: #41 Racer X

The President Of The United states is doing a fantastic job of explaining it now.

He's too nice a guy to firmly place the blame at the feet of the do-gooders who expected the banks to give loans to people that normally wouldn't qualify.

re: #50 nyc redneck

it's a pyramid scheme.

Like almost everything else my taxes pay for.

re: #37 Occasional Reader

No, he really doesn't, not now. If he turns this into a partisan pie fight, we're in trouble. (And he won't.) This is not the time.

Yeah, let the FBI find all that out in their investigation. If he tries to hammer the dems on this, that will absolutely kill any chance of some sort of action.

The market is not functioning properly. No Shit, idiot loans, greedheads galore, idiot politicians getting involved in shit they know nothing about.

Great job so far GW!

This is some scary serious shit.

Charles Ponzi's ghost approves.

What bugs me: I have no debt - not even secured debt.

I really dislike paying taxes because of (bottom line) people who don't pay their bills.

He's doing a good job so far. He doesn't have to actually call out the democrats to bring pressure to bear. this will do it.

He's inviting Obama and McCain to the White House? What are the odds Obama shows up?

it is confirmed :

Obama Accepts Bush Invitation To Meet In Washington

WASHINGTON -- With extraordinary stakes on the line, President Bush has invited both presidential candidates and the leaders of the House and Senate to the White House on Thursday in hopes of securing a bill to rescue the economy.

Bush took the unusual step Wednesday night of calling Democratic Sen. Barack Obama directly to invite him to the meeting, White House press secretary Dana Perino said. An Obama spokesman said the senator would attend. The White House has also invited Republican Sen. John McCain.
[Link: www.wnbc.com...]

Don't invite osama, he already said he aint commin'!

re: #50 nyc redneck

it's a pyramid scheme.

Like Social Security

The bully pulpit.

re: #44 Dar ul Harb

He's badly miked. That's W's breathing, I think.

I agree he's badly miked, but I think it's either his hands or something else (notepad?) on the lectern.

I might add that the reason housing prices were so high in the first place was because of criminal behavior in the home lending industry.

Aided and abetted by the Congress you know, and love so well.

I blame this guy.

all hail comrade Bush

"I've asked senators McCain and Obama to join us in Washington tomorrow to ...."

Take that Obama!

re: #68 Occasional Reader

I agree he's badly miked, but I think it's either his hands or something else (notepad?) on the lectern.

Maybe Monica is still trapped in there.

When he does this he is good at it, he does it to little and should have done a talk a week, like FDR did, he could have explained the War better and he has the skill to do it.

re: #54 MandyManners

He seems to be laying this out pretty well.

I already said that. Copycat!

Let's see if Obama votes something other than present on this proposed bill

BHO can't back out now!

Bush invites obama to the white house tomarrow?
now what obama?..it's not a 3am call.. It's lunch..

troubled assets?

re: #55 Dahveed

Or the Democrat politicians who forced them to do it in the name of equal opportunity.

re: #63 doppelganglander

He's inviting Obama and McCain to the White House? What are the odds Obama shows up?

He'll show up with a tape measure for new carpeting.

re: #75 Occasional Reader

I already said that. Copycat!

ttthpppppppppppppttttttttt

re: #71 alien_mind

all hail comrade Bush

?

re: #74 lifeofthemind

should have done a talk a week, like FDR did,

On television!

/Biden

re: #71 alien_mind
FUCK OFF!

tax payers protected?

re: #63 doppelganglander

He's inviting Obama and McCain to the White House? What are the odds Obama shows up?

somewhere between zero to none.

Can Obama say No? He has to go to DC now.

Oh he'll show up alright.

Make sure you tell America that we'll almost surely make a profit on the $700 billion and get the economy back on track, George. People understand the concept of profit.

/Americans need to know that we're not just tossing the $700 billion down the drain

re: #87 Syrah

somewhere between zero to none.

He's already accepted.

re: #86 nyc redneck

tax payers protected?

Ya, hardly!

Seeing as how the government created the problem, it has an obligation to help solve it.

He's hitting the central point of the gummint creating a market. Good.

re: #89 mama winger

Oh he'll show up alright.

with his lovely bride and her interior designer by his side.

Money will flow back to the treasury!

re: #91 MandyManners

He's already accepted.

I stand corrected.

re: #95 livefreeor die

with his lovely bride and her interior designer by his side.

Oh gak

re: #82 MandyManners

ttthpppppppppppppttttttttt

Classy, Calvin, classy.

I don't like the term "troubled assets". To broad. Can cover student debts, car loans etc.

I mentioned on the thread below that Fox News said Obama will be going to Washington tomorrow.

re: #62 bbuddha

He's doing a good job so far. He doesn't have to actually call out the democrats to bring pressure to bear. this will do it.

If he is really interested in saving something, then I would expect that he would not turn this into a partisan smackdown.

And if the general public is REALLY concerned, than they would start treating this like a national emergency, not a stick to use for or against other politicians.

Yea, we'll see?

re: #73 livefreeor die

Maybe Monica is still trapped in there.

If the speech has a climactic ending, we'll know.

re: #95 livefreeor die
Double gaaah!

re: #88 lifeofthemind

Can Obama say No? He has to go to DC now.

0bama's got to be busy getting ready to ah..uhh..uhh..debate himself.

did he say 700 billion?
of taxpayer money

Years from now, the history books will - I predict - laud Pres. Bush for doing a great job during one of the hardest eras in our history.

The Dems will follow this solution by President Bush by offering nothing..

The Dems will simply sneer and nitpick and dither in order to delay any action.

McCain and Obama have issued a joint statement.

re: #90 Killian Bundy

Make sure you tell America that we'll almost surely make a profit on the $700 billion and get the economy back on track, George. People understand the concept of profit.

/Americans need to know that we're not just tossing the $700 billion down the drain

Killian, you don't honestly believe that the government's going to cut us checks on our wonderful profits or use it to pay down the debt, do you?

Obama debating himself. Sounds like whiskey time!

re: #81 HelloDare

He'll show up with a tape measure for new carpeting.

LOL. Nancy's link says he'll be there. If he is, it will only be for the photo opportunity.

re: #85 pingjockey

i'm sorry but this is all BS.

"Careful with the nutty regulation urge", good.

who's going to jail?

re: #93 Luigi

Seeing as how the government created the problem, it has an obligation to help solve it.

That's a fair point. The do-nothing Democrats are going to have to do something now. And The Obama will have to vote something other than "present."

re: #113 alien_mind

i'm sorry but this is all BS.

What's your solution?

re: #64 Nancy

Finally, the big Adult steps in and hauls Obama's butt into the conversation where he should be, since he's running for that office and should have input into how this is going to go down.

Obama now looks incredibly foolish for his response to McCain's campaign suspension announcement today. It looks like he was outside playing after dark, wouldn't go inside when his mom called him, but ran like his britches were on on fire when dad came out with the belt.

re: #106 nyc redneck

did he say 700 billion?
of taxpayer money

/relax, we'll eventually get it back with interest

re: #101 spypeach

I mentioned on the thread below that Fox News said Obama will be going to Washington tomorrow.

Just another example of Obama waiting for McCain to take action, and as he follows he tells the media about how he is leading the way.

re: #108 RTLM

The Dems will follow this solution by President Bush by offering nothing..

The Dems will simply sneer and nitpick and dither in order to delay any action.

Ask not what your country can do for you. Ask what you can do for your country.

Not too shabby.

I'm voting for Bush in Nov.

He's calling the Dems' bluff.

re: #113 alien_mind

i'm sorry but this is all BS.

Such a profound analysis.

re: #109 lawhawk

McCain and Obama have issued a joint statement.

Oooooh - chills. I love it when they act like adults are bipartisan.

re: #120 Racer X

Just another example of Obama waiting for McCain to take action, and as he follows he tells the media about how he is leading the way.

Bingo.

Done already? I like those kinds of speeches.

Short, sweet, to the point. Good.

Oh, and for those keeping score, Obama's still getting advice from Fannie Mae's former head honcho Jim Johnson.

re: #63 doppelganglander

He's inviting Obama and McCain to the White House? What are the odds Obama shows up?

Michelle will tag along and take measurements of all the rooms and windows for the makeover...

Switching back to ESPN now...

re: #118 Intrepid

Finally, the big Adult steps in and hauls Obama's butt into the conversation where he should be, since he's running for that office and should have input into how this is going to go down.

Obama now looks incredibly foolish for his response to McCain's campaign suspension announcement today. It looks like he was outside playing after dark, wouldn't go inside when his mom called him, but ran like his britches were on on fire when dad came out with the belt.

Yes, Obama has not had a good day image wise.

He didn't end with God Bless the United States

re: #119 Killian Bundy

/relax, we'll eventually get it back with interest

hahaha

"I accept and will be there to welcome our new "Socialist-Overlords" to save us."
BHO

/gotta laugh..,it hurts too much to cry.

Home run address for Bush. Insightful and perfectly clear. No partisan shots. Honest words to the American people.

Great job, Mr. President!

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

MSNBC.....Let the spin begin! Maddow's on. Someone shoot me!

re: #113 alien_mind

i'm sorry but this is all BS.

Continue with that thought please.

re: #113 alien_mind

i'm sorry but this is all BS.

Do you take your BS with vinegar or salt?

re: #135 lifeofthemind

He didn't end with God Bless the United States

nervous?

re: #125 buzzsawmonkey

ummm. could be her brother-in-law...

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

High 5!

re: #110 Palandine

Killian, you don't honestly believe that the government's going to cut us checks on our wonderful profits or use it to pay down the debt, do you?

I didn't say that.

/but the Treasury will eventually get the $700 billion back, with interest

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

You tease!

i think i liked it. i think i understood some of it.

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

[Link: icanhascheezburger.files.wordpress.com...]

re: #130 Occasional Reader

Short, sweet, to the point. Good.

How long would be such a speech from BHO be?

re: #113 alien_mind

i'm sorry but this is all BS.

So, what is your analysis, Dr. Smartypants?

re: #133 mama winger

Switching back to ESPN now...

I think I love you..
:)

re: #139 Occasional Reader

You da' man!

re: #135 lifeofthemind

He didn't end with God Bless the United States

What channel did you watch? I heard him say it.

I've got the answer, Obama and McCain do the debate from the Congressional broadcast office. No audience, just pop in with Lehrer and get it done, then back to work.

700 billion.

_{With a Carl Sagan intonation.}

That is a lot . . .

So why does it sound cheap?

So, is it what we needed to hear from the president?

I already know the MSM will rip Bush to shreds as usual, so hopefully it accomplishes something having him make this speech.

re: #156 lifeofthemind

I've got the answer, Obama and McCain do the debate from the Congressional broadcast office. No audience, just pop in with Lehrer and get it done, then back to work.

If Obama was wearing his big boy pants, that's what they would do.

re: #153 HoosierHoops

I think I love you..
:)

I got me a gun an ' a Bible an a bottle of Jack too.

As long as we are talking 'package'

:)

P.S. the current bill for this credit crisis call to raise the national debt ceiling to 11.314 TRILLION. Scary!

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

*snicker*

re: #151 MandyManners

How long would be such a speech from BHO be?

He'd still be talking an hour from now.

ok, now I'm ready for Kieth Olbermans in depth analysis on this.

/Worst explanation in the woooooooooorrrrrrrrrrlllllllllllldddddddddddddd!

Our congress and senate need an enima.

I know! Let's have "THE RICH" pay for it!

/liberal moonbat

re: #165 Oldasdirt

Our congress and senate need an enima.

I thought they were an enema.

I still say "troubled assets" is an awfully broad term. A lot of unnecessary stuff can get shoehorned into that term.

re: #165 Oldasdirt

Our congress and senate need an enima.

Here, Here! seconded and passed. Enema for congress.

he stands up....he looks around.....holds head up high...
...he beams with pride to be there to perform chosen duty
for the people he represents......
...he opens his mouth.........raises his arm in the air and yells.....

****PRESENT!*****

re: #113 alien_mind

i'm sorry but this is all BS.

What's your solution?

Can't Obama just hold a fund raiser and take care of this mess?

I thought it was a good explanation. I wonder who wrote it?

re: #163 Dark_Falcon

He'd still be talking an hour from now.

At least.

I liked that he emphasized free market capitalism being the best economic system there is, despite its ups and downs.

I'll believe the Democrats can stop acting like babies and get something passed when I see it, but this speech puts immense pressure on them to drop the bullshit and cooperate. And he did it in an entirely non-partisan way.

re: #170 Han_Solo

he stands up....he looks around.....holds head up high...
...he beams with pride to be there to perform chosen duty
for the people he represents......
...he opens his mouth.........raises his arm in the air and yells.....

****PRESENT!*****

high 5

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

Almost as funny as when they said "here is the money shot" the other day.

They just don't have dirty minds, yes?

re: #157 Syrah

700 billion.

_{With a Carl Sagan intonation.}

That is a lot . . .

So why does it sound cheap?

Compared to the 33 trillion dollar holdings of an unregulated market that could be put in grave danger with more mismanagement of this crisis, 700B is a fire sale.

700 billion...?

Lemme guess, China is going to come out the big winner?

re: #157 Syrah

700 billion.

_{With a Carl Sagan intonation.}

That is a lot . . .

So why does it sound cheap?

There is a strong chance we will get much of that back. We are buying mortgages. As Dubya said, many WILL pay it back. And there is the interest.

In theory, we the taxpayers could turn a profit. Not likely, of course. We're buying them because they're likely to be bad mortgages, but if 500 billion gets paid back, we the taxpayers are "only" soaked for 200 billion. And compared to the potential depression/recession we are hopefully avoiding, maybe a good purchase.

re: #165 Oldasdirt

Our congress and senate need an enima.

Reminds me of a joke about a Jewish momma.

"It couldn't hurt!"

re: #113 alien_mind
Shall we just let the economy tank then? I don't remember the great depression but my grandparents did. It was ugly.

re: #155 baxtrice

What channel did you watch? I heard him say it.

Watched the feed from fox but it was complete, he blessed the american people but forgot the next line, probably the first time it hasn't been said in decades.

He did good ,being nervous is human,

re: #177 buzzsawmonkey

"The Rich" (i.e., one G. Soros) is backing the Obamessiah. He ain't payin' for nothin'; he's waiting for the fire sale.

Why do I feel a chill wind down my spine when I hear that name?

re: #173 Naso Tang

I thought it was a good explanation. I wonder who wrote it?

I wrote it.

Anything else you would like to know?

re: #118 Intrepid

I couldn't understand why he would not have wanted to have input. Either McCain or Obama is going to be the next president and whatever they do now is going to commit the new president.

I would have thought both would have been eager to be involved. It is the next administration that will be bound to it.

re: #157 Syrah

700 billion.

_{With a Carl Sagan intonation.}

That is a lot . . .

So why does it sound cheap?

Because it's less than 1 trillion.

I say charge Mexico for all of the societal costs we've incurred over the years....with interest. That won't get us close, but let's not forget how much money the USA has allowed these NON-CITIZENS to get their hands on via programs, school discounts, hospital costs, jailing, education, etc.

re: #20 The Pulchritudinous Patriot

We got to this point by ignoring what is really important in life: Not wealth and speculation, but raising your kids and appreciating the beauty of creation.

If the vast majority of us saw a house as shelter and beauty, not as a speculative investment, we wouldn't be in this "mess."

I suppose we will be for hard knocks until we come around, like in the movie Groundhog Day.

IMHO of course.

re: #186 Racer X

I wrote it.

Anything else you would like to know?

What have I got in my pocket?

re: #179 really grumpy big dog Johnson

Explain, please? I haven't really been following this whole thing.

re: #147 Killian Bundy

I didn't say that.

/but the Treasury will eventually get the $700 billion back, with interest

Says a columnist who works for an investment firm.

I'm really trying not to be a Luddite here, and I also know my opinion means exactly nothing. A bill will be passed, it will temporarily stop the bleeding with injections of cash from we the people (without improving the structural problems in the economy), and the dems will throw in some expensive social programs as well. No one cares about average people who followed the rules. So be it.

Grredy people who couldn't afford their chosen lifestyle have filled themselves at the trough. The financials have filled themselves a the trough. Now the dems and Republicans are filing up to the trough for more money.

Some day they'll come, and they'll find they've killed the taxpayer that provided all of this.

re: #178 Catttt

re: #139 Occasional Reader

Brit Hume, "people are alarmed by the enormous package". Yeah, I get that a lot, too.

/sorry

Almost as funny as when they said "here is the money shot" the other day.

They just don't have dirty minds, yes?

I think we'll have a shot of relief tomorrow, which will pump liquidity into the economy. Then, we'll all breath a sigh of relief, and have a smoke.

What did he say? I was too distracted by the creaking noise like that stain on the guy's shirt in that ad.

re: #160 mama winger

I got me a gun an ' a Bible an a bottle of Jack too.

As long as we are talking 'package'

:)

LOL mama
I tried to think of something clever..but i am laughing too much...

While I think it's BS that we are bailing out the bad credit card debt and car loans and student loans (well, were bailing out the lending institutions anyway) there is some legitimate reasoning behind this.

Things have gotten so big, companies have gotten so big that if they fail there is a very real danger of a depression...not a recession, but a depression.

There needs to be massive oversight on this...and I agree that the uppity ups at these companies should get nothing by way of a golden parachute.

Investigations and indictments will come later, years down the line....but if we want to avoid a depression, then something must be done.

We will never see full recompense for what we are buying with the bail out....and we will (hopefully) see major reform with oversight on derivatives and hedge funds. While I don't think that we will return to the old days when one asked for a mortgage from an S&L, there will be regulation on REITS....

Things will change, like they did after the 29 crash and the 89 crash, but there has to be something done to avoid a depression.

re: #191 OldLineTexan

What have I got in my pocket?

Change?

re: #186 Racer X

I wrote it.

Anything else you would like to know?

Not yet, but now I know who to ask.

President Bush said something that has been bugging me for a long time (very long).

Does it bother anyone that the economy is so "credit sensitive"?

Think about your own home financial situation. Would'nt seem unnerving to have to survive week to week or even day to day on your ability to get another loan and payoff the proceeding ones?

I am not ignorant on the facts of economic operations that have large "cost of carry" issues when measuring the gap between expenditure and recouping revenue but the fact that so many companies are playing it so close to the line for so long just bugs the heck out of me.

re: #184 lifeofthemind

Watched the feed from fox but it was complete, he blessed the american people but forgot the next line, probably the first time it hasn't been said in decades.

He did good ,being nervous is human,

Well I watched the local NBC affiliate - (yes NBC, evil..ha ha) -- but maybe I construed the lines up. I'm up to my ears in statistics notes.

This dose not sound good to me for every account I have over 100g's I would be moving it or taking it out. I know what I will be doing in the morning.

I can't listen to the wrap up......I'm out of duct tape. Such a mess exploding heads make.

#102 walter newton
Yeah, some things are too important to play political games with. I hate the idea of the govt bailing out business but in this case I'm afraid it is necessary. We need to make some changes to the practices that brought this into being. Treat the disease not just the symptoms

re: #157 Syrah

700 billion.

_{With a Carl Sagan intonation.}

That is a lot . . .

So why does it sound cheap?

Because people can't even ponder figures like that. Supposedly it's more like a trillion, an even more incomprehensible number.

re: #194 Occasional Reader

I think we'll have a shot of relief tomorrow, which will pump liquidity into the economy. Then, we'll all breath a sigh of relief, and have a smoke.

Yes. "Things" are looking "up." :D

Rachel Madow says they just heard from Barney Frank that "this plan will pass."

All it took was for John McCain to threaten to go to Washington instead of the debate.

The Democrats sure have a powerful urge for that debate to take place Friday night. What's so important about that debate that they will suddenly sign off on $700 billion to see it take place?

Tracy Byrnes... hmm, quite a cutie, kind of an annoying voice, though.

re: #160 mama winger

Remington/King James/Grappa

There is one very big reason why Bush and other Republicans are not destroying Democrats for their role in this crisis.

It is a financial crisis - one that could turn very badly for America. I believe the president is aware of this, and is choosing his words very carefully in order to stave off a panic on wall street. Smart move.

We can destroy the democrats after McCain gets elected.

Clearly there does have to be a follow on prosecution of those who engaged in fraud (cough REZCO cough) to prevent a moral hazard and repeat of the crisis.

Secretary Paulson couldn't find his asshole with a funnel. President Bush should've fired him last week. As late as May of this year Paulson was claiming the worst of the credit crisis was "behind us".

And now we're going to give this man a blank check for $700 billion? I don't think so. I'm not categorically opposed to a bailout, but I am categorically opposed to Secretary Paulson managing it.

re: #151 MandyManners

How long would be such a speech from BHO be?

With or without the "uhms"?

With "Uhms": 1 hour 25 minutes
Sans "Uhms": 1 hour

And no one would have understood a dang word he said at the end of it.

But it would be full of "HOPE" and "CHANGE".

Whatever happened to 20% down, and verified income? Am I the last person in America who thought that was what you had to have to get a house?

re: #213 Intrepid

With or without the "uhms"?

With "Uhms": 1 hour 25 minutes
Sans "Uhms": 1 hour

And no one would have understood a dang word he said at the end of it.

But it would be full of "HOPE" and "CHANGE".

Very well stated!

re: #191 OldLineTexan

What have I got in my pocket?

Hope, faith and charity?

re: #206 Luigi

Rachel Madow says they just heard from Barney Frank that "this plan will pass."

All it took was for John McCain to threaten to go to Washington instead of the debate.

The Democrats sure have a powerful urge for that debate to take place Friday night. What's so important about that debate that they will suddenly sign off on $700 billion to see it take place?

Given their um-er-um-ah candidate's ability to speak off the top of his head, I would think they'd be thrilled to have the debate cancelled.

It was Gore coming off as such a jerk in the 2000 debates that turned things around.

re: #214 buzzsawmonkey

Mae West would know.

re: #193 Palandine

Says a columnist who works for an investment firm.

I'm really trying not to be a Luddite here, and I also know my opinion means exactly nothing. A bill will be passed, it will temporarily stop the bleeding with injections of cash from we the people (without improving the structural problems in the economy), and the dems will throw in some expensive social programs as well. No one cares about average people who followed the rules. So be it.

Grredy people who couldn't afford their chosen lifestyle have filled themselves at the trough. The financials have filled themselves a the trough. Now the dems and Republicans are filing up to the trough for more money.

Some day they'll come, and they'll find they've killed the taxpayer that provided all of this.

That's why we have to use this breathing room (assuming the bill is passed) to really start being involved citizens again. No more "I just don't have time for it."

re: #219 Ojoe

Whack me Mandy

BBL

re: #215 mama winger

Whatever happened to 20% down, and verified income? Am I the last person in America who thought that was what you had to have to get a house?

I hate to ask this, but how old are you?

re: #209 Ojoe

Remington/King James/Grappa

I think you are me. Except I use New International Version.

re: #191 OldLineTexan

What have I got in my pocket?

three ones, a ten, and two twenty's; a pocketknife and a spent .22 casing.

re: #151 MandyManners

How long would be such a speech from BHO be?

It wouldn't interfere with his waffles, but it could, uh, be lengthy.

re: #190 Ojoe

We got to this point by ignoring what is really important in life: Not wealth and speculation, but raising your kids and appreciating the beauty of creation.

If the vast majority of us saw a house as shelter and beauty, not as a speculative investment, we wouldn't be in this "mess."

I suppose we will be for hard knocks until we come around, like in the movie Groundhog Day.

IMHO of course.

I agree with your IMHO.

The current situation makes me feel really really good right now about my modest but completely paid for house.

re: #215 mama winger

Whatever happened to 20% down, and verified income? Am I the last person in America who thought that was what you had to have to get a house?

That went out the window when An Equal Opportunity Lender came in.

re: #213 Intrepid

With or without the "uhms"?

With "Uhms": 1 hour 25 minutes
Sans "Uhms": 1 hour

And no one would have understood a dang word he said at the end of it.

But it would be full of "HOPE" and "CHANGE".

No "uhms" 'cause it'd be scripted.

re: #215 mama winger

Whatever happened to 20% down, and verified income? Am I the last person in America who thought that was what you had to have to get a house?

Great question...I don't have 20% down saved yet, which is why I still rent and pay cash for everything.

re: #161 LockeOn

P.S. the current bill for this credit crisis call to raise the national debt ceiling to 11.314 TRILLION. Scary!

It already at $10 trillion.

/barely even 2/3s of a year's worth of ever increasing U.S. GDP

re: #191 OldLineTexan

What have I got in my pocket?

Do we really want to know?

Did anyone else see Barney Frank's gag prop yesterday when he was waving a roll of 700 Billion Zimbabwean dollars? Clearly Barney has talents outside of Congress that he should be encouraged to pursue.

re: #200 unclassifiable

the fact that so many companies are playing it so close to the line for so long just bugs the heck out of me.

Yep. Technology and other things have allowed businesses to streamline and streamline, and that cuts costs but also makes things risky.

For example, most businesses used to carry some degree of inventory. But holding lots of inventory isn't cost effective. It is sitting on your shelf, you've paid for it, but you aren't selling it. Thus the trend towards "just in time" inventory practices, where many businesses have maybe a day or two of inventory and rely on timely deliveries. This works great until there is a hurricane and we don't have gas for two days. Normally, we'd just wait out the two days, but with "just in time", things in some places got weird very quickly.

re: #223 Naso Tang

I hate to ask this, but how old are you?

Let's put it this way. I remember the Eisenhower administration with nostalgic fondness.

re: #227 reine.de.tout

Life lived correctly has few problems.

IMHO

re: #222 Ojoe

Whack me Mandy

BBL

No. Those who want a *whack* don't get one.

re: #235 mama winger

Let's put it this way. I remember the Eisenhower administration with nostalgic fondness.

Just like my dad.

re: #233 lifeofthemind

Did anyone else see Barney Frank's gag prop yesterday when he was waving a roll of 700 Billion Zimbabwean dollars? Clearly Barney has talents outside of Congress that he should be encouraged to pursue.

The Madam thing didn't pan out once he got caught.

re: #237 MandyManners

OK

re: #207 Occasional Reader

Tracy Byrnes... hmm, quite a cutie, kind of an annoying voice, though.

I think they pulled her in at the last minute Her outfit was awful - she looked like Heidi.

Just heard on Fox, that Obama was called by the President, and that they wouldn't just being going for a photo op...yada yada yada.... and that they have been assured that there will be shared credit if this thing gets passed.

Shared Credit Really?

re: #227 reine.de.tout

I agree with your IMHO.

The current situation makes me feel really really good right now about my modest but completely paid for house.

Glad to hear you have no need to move anywhere.

re: #226 really grumpy big dog Johnson

It wouldn't interfere with his waffles, but it could, uh, be lengthy.

I'd be asleep.

re: #238 Dark_Falcon

Just like my dad.

Now there's an ego boost.

:)

re: #215 mama winger

Whatever happened to 20% down, and verified income? Am I the last person in America who thought that was what you had to have to get a house?

Mama, I was amazed when I bought my home, matey. They were willing to loan me like 250 thousand when all I wanted was 90 grand. It was insane. I had saved 10 grand for down payment, and they didn't want it. Yaaar!

re: #197 The Pulchritudinous Patriot

Things have gotten so big, companies have gotten so big that if they fail there is a very real danger of a depression...not a recession, but a depression.

I know nothing about this particular situation, but I tend to think that when things get too big the natural thing for them to do is shrink. Neoconservatives seem so dogmatic in their view that things have to keep growing and growing, whether it's the economy or the population. Things can't grow forever, there has to be an equilibrium. Acting like the sky is falling when the balance scale tips in the other direction is, I think, stupid, and harmful in the long run.

re: #206 Luigi

Rachel Madow says they just heard from Barney Frank that "this plan will pass."

All it took was for John McCain to threaten to go to Washington instead of the debate.

The Democrats sure have a powerful urge for that debate to take place Friday night. What's so important about that debate that they will suddenly sign off on $700 billion to see it take place?

Actually, Rep. Barney Frank has been a supporter of this plan from day 1.

re: #12 The Pulchritudinous Patriot

Oh shit...I keep getting collect calls from the Harris County jail...who the hell gave them my number?

Whiskey
Tango
Foxtrot!

Someone may have said this already, but a handful of years back I heard that this was some type of scam. I forget the point/payoff, but an inmate would make a collect call to someone, and if that someone had three-way calling, the inmate would then try to get that person to dial up another number for them.

Now that I think of it, I guess the payoff would be that the inmate's buddy wouldn't be stuck with a large collect call bill.

re: #236 Ojoe

Life lived correctly has few problems.

IMHO

I again agree with your IMHO.

re: #233 lifeofthemind

Did anyone else see Barney Frank's gag prop yesterday when he was waving a roll of 700 Billion Zimbabwean dollars? Clearly Barney has talents outside of Congress that he should be encouraged to pursue.

Male hookers?

re: #203 bbuddha

I can't listen to the wrap up......I'm out of duct tape. Such a mess exploding heads make.

#102 walter newton
Yeah, some things are too important to play political games with. I hate the idea of the govt bailing out business but in this case I'm afraid it is necessary. We need to make some changes to the practices that brought this into being. Treat the disease not just the symptoms

Agree. But this IS being used for partisan purposes, all over the place. And as long as that is what motivates the solution, then we're fucked. Simple as that.

So far, all I hear is a bill that has NO OVERSIGHT, no measures to prevent the big boys from actually making money from this, and no accounting of what, when, were, how and so on.

I've read the current proposal. Three pages long. I don't like over-regulation any more than the next person here, but when you are talking about this much money (and it WILL be more than 700b), someone has to be responsible.

re: #242 spypeach

Just heard on Fox, that Obama was called by the President, and that they wouldn't just being going for a photo op...yada yada yada.... and that they have been assured that there will be shared credit if this thing gets passed.

Shared Credit Really?

So Barry's not going for the good of his country-he had to negotiate for shared credit.
[self deleted]

re: #215 mama winger
Me too. I didn't have 20% down though, had a VA loan from being retired military. I do all the stuff by the numbers and now I have to have my tax dollars pay for shennanigans on the street(Wall) and Capitol Hill. I'm sick and tired of being abused by the greedheads that seem to populate the upper echelons of power. If the FBI finds fraud I want these lowlifes to do hard time with Bubba not any damn country club. This financial mess is a clear and present danger to the security of this country.

re: #212 Dirk Diggler

Secretary Paulson couldn't find his asshole with a funnel. President Bush should've fired him last week. As late as May of this year Paulson was claiming the worst of the credit crisis was "behind us".

And now we're going to give this man a blank check for $700 billion? I don't think so. I'm not categorically opposed to a bailout, but I am categorically opposed to Secretary Paulson managing it.

I hear ya, but I like Paulson, just so everything is transparent and accountable.

I listened to the first few minutes of this Bush speech, until the bs quotient overwhelmed me.

I don't like the vibes.

re: #246 LoFlyer

Mama, I was amazed when I bought my home, matey. They were willing to loan me like 250 thousand when all I wanted was 90 grand. It was insane. I had saved 10 grand for down payment, and they didn't want it. Yaaar!

See- I don't even have one of them fancy business degrees and I can tell ya right there that ain't right.

My strategically situated #70 post officially shits on post #71.

re: #231 Killian Bundy

It already at $10 trillion.

/barely even 2/3s of a year's worth of ever increasing U.S. GDP

with this we will as every American go from owing $30,000 to 50,000. over night.

re: #210 Racer X

There is one very big reason why Bush and other Republicans are not destroying Democrats for their role in this crisis.

It is a financial crisis - one that could turn very badly for America. I believe the president is aware of this, and is choosing his words very carefully in order to stave off a panic on wall street. Smart move.

We can destroy the democrats after McCain gets elected.

That's what I said. The Democrats are children. I would not put it past them to destroy our economy out of spite. Treat them with kid gloves (literally) now. Send them to their rooms without supper later.

700 billion dollars would buy the broken state of Michagan about now.

re: #240 Ojoe

OK

*whack*

Now Fox is reporting a deal will be struck soon and the debate will take place on Friday.

Yesterday, there wasn't a lot of positive talk on Capital Hill about this issue. Now there are just a few details to iron out.

All because John McCain said he would go to Washington instead of the debate!

The Democrats sure have a powerful urge to see that debate take place! A $700 billion powerful urge. What are they expecting to happen at that debate that they're wiling to scribble a signature on a $700 billion check to see it on tv.

re: #234 Silhouette

Yep. Technology and other things have allowed businesses to streamline and streamline, and that cuts costs but also makes things risky.

For example, most businesses used to carry some degree of inventory. But holding lots of inventory isn't cost effective. It is sitting on your shelf, you've paid for it, but you aren't selling it. Thus the trend towards "just in time" inventory practices, where many businesses have maybe a day or two of inventory and rely on timely deliveries. This works great until there is a hurricane and we don't have gas for two days. Normally, we'd just wait out the two days, but with "just in time", things in some places got weird very quickly.

Yep.

I know about that too well.

Having everything run drum tight is fine, . . . until something breaks.

Then your efed.

Bigtime.

re: #234 Silhouette

Yep. Technology and other things have allowed businesses to streamline and streamline, and that cuts costs but also makes things risky.

For example, most businesses used to carry some degree of inventory. But holding lots of inventory isn't cost effective. It is sitting on your shelf, you've paid for it, but you aren't selling it. Thus the trend towards "just in time" inventory practices, where many businesses have maybe a day or two of inventory and rely on timely deliveries. This works great until there is a hurricane and we don't have gas for two days. Normally, we'd just wait out the two days, but with "just in time", things in some places got weird very quickly.

I work with companies that do 'just in time' and if you have the slightest hiccup in production you get royally screwed. What happens when your only piece of production equipment making part X goes down? I think that a combination of production ideas is better than 'just in time/kanban'.

re: #232 reine.de.tout

Do we really want to know?

a cake?
please?

re: #235 mama winger

Let's put it this way. I remember the Eisenhower administration with nostalgic fondness.

...and you've been living in the same house since?

re: #71 alien_mind

Go fuck yourself.

re: #218 livefreeor die

Given their um-er-um-ah candidate's ability to speak off the top of his head, I would think they'd be thrilled to have the debate canceled.

It was Gore coming off as such a jerk in the 2000 debates that turned things around.

Maybe they hate Obama and are pushing him to go out and immolate. He doesn't strike me as the collegial type that gets loved in the old boys club room, Senate cloak room. Oddly enough Kennedy is popular with other Senators and staff. The most hated member in generations was apparently John Tower.