Bailout plan splits free-market backers

Apparently John McCain thinks you're Dumb as said in this video. His bailing on his campaign was a stunt. http://www.youtube.com/watch?v=GLazop_iWwQ

This is a great video on the history of the problems on Wall Street. http://www.youtube.com/watch?v=H5tZc8oH--o

Contrary to the popular drivel from the Left, the greed here is not Wall Street’s alone, but of every social engineering “apparatchik” who never saw a spending bill they did not like, except of course, if it was for the DoD! In my opinion, the electorate that has continually reelected representatives selling them free lunches and a standard of living they could not afford, bears a considerable part of the responsibility for our financial woes. Except for the “Clinton Surplus” (go figure, since the last time I checked the purse strings are in Congress’ hands), we have run continual yearly budget deficits since 1963 and trade deficits since 1973 – $9 soon to be $11 trillion! There is plenty of blame to go around, but in an ostensibly free society with a representative government, the buck does not stop with the President or even the Congress, it stops with the people!

Taxpayers have a choice--to vote out of office every incumbent who votes for the bailout. They caused it. It did not originate with the Bush admin. Bush tried to regulate to prevent this 5 yrs. ago (per NYT article 5 yrs ago, cited by a commenter in this paper yesterday). Politicians count on taxpayers' short memories. Congress refused, because Fan and Fred and Countrywide were cash cows for Congress. Congress is pretending to stress over this, so as not to show how easy it is to stick us for >$1 trillion. I for one do not believe the estimates of the cost, nor do I believe we will ever know the cost. We are nothing but anonymous votes for the political class, to be pandered to at election time. So, let's exercise what little power we have-out with the scoundrels, asap, in November.

First off, I absolutely DO NOT like McCain (McAmnesty). But I will stand up for the man and say that he showed, once again, that country comes first. So keep telling yourselves that he did this as a publicity stunt or whatever. He whipped the messiah's butt at that debate, even though McCAIN didn't get all the prep time that the messiah got. THAT, folks, is called EXPERIENCE! I WILL vote the McCain/ Palin ticket in November, if no other reason than to see to it that an anti- American muslim bigot does not get our White House. In fact, the messiah has YET to provide a legitimate certified birth certificate!! As for Bush and the Republicans (whom I have no great love for either), check your history records and you'll see who was in charge of Congress for some 40 years - as well as who has been in charge for the last TWO years. Things were going well for this country, financially, until SOMEONE voted for .... CHANGE in 2006!! Well, we got CHANGE. Do we want MORE? Use your common sense. Shoot, Obama doesn't even know enough of his own country's history to know that we only have FIFTY states. Or is it that he let the truth slip out on the 57 states (check your Islam facts - then decide for yourself if Husein-Obama was just "tired" when he said he'd be campaigning in all 57 states! Geez)

While I APPLAUD McCain for ATTEMPTING to work on this and the debate- I am with all of you who are pointing out FACTS about the problems that were FORESEEN! THANK YOU for pointing this out, make sure that EVERY MEDIA outlet has this information to EDUCATE the American voter! From what I have been able to find, CLINTON is also to blame for this mess and NAFTA! I am still very angry about the CEO pay! Take their bonuses, pay , etc... Talk to people who worked ALL of thier lives for companies that folded and moved to MEXICO and other countries about what they got for their loyalty! They seriously do NOT care that we may not be able to get housing, food, gas, heat, groceries or other basic necessities! Why should we care that they have to adjust their HIGH class of living! Thank you all for your great information- don't count on the media for education- seriously people, they are NOT a source for education! And start voting for EVERYTHING that is on the ballots! It is your right, use it, don't abuse it!

J.D. Foster, Kevin Hassett, and Larry Kudlow are hypocrites ! Either you are a believer in free markets or you are not. You can't have it both ways, You cannot say you believe in them when you like the result and say the government should step in when they hurt the economy. If it is 1929 again because of free market forces, so be it. IF that is the true effect of the free market, then live with it!

Here is the problem that I think occurs with economists: they are too tied to the market ( and a lot of them work/have worked in the financial industry - show me that rare economist working in say the semiconductor industry ). The world to them is the market and the market reflects reality ( unlike the rest of us who believe the market is due to a lot of factors including what a trader had for lunch ). The market in this world view is their Paradise: it is the living embodiment of their theories. Many economists today would view the idea that a company should not hedge its risks as passe. This is why when the financial system seems "threatened" they do not look at it as one of many costs that an enterprise bears. They no not have that REAL LIFE knowledge that tells them that there is no rush in making good decisions and that a loan that is not made today can perfectly well be made in 3 or 6 months. They do not feel that the driver of that loan is opportunity; rather they feel that the flow of capital through the financial system itself is a desirable effect. That is the type of thinking that got us into this mess in the first place. Bernake for years tried to keep interest rates low, feeling that this promoted growth ( even many economists feel this, because again they have a fluid view of the economy ). He did not consider where those low interest rate loans were really ending up - if the deal was made it was because it was a right deal to make in the first place. If all purchases are correct, the way to promote "growth" is to promote consumption. So Bernake's short term thinking and easy credit policies led to the housing bubble and the losses on the loans we see today. Should he not pay the ultimate penalty ?

No bailout! No bailout! Check who's responsible...Clinton administration responsible for de-regulation and NAFTA. And dear beloved Pres. Kennedy - can hardly believe he was responsible for ending immigration quotas...Yes, it's all come home to roost - face it, de-regulation & subprime mess - anxious Banks accepting matricular cards which are full of fraud - for a quick buck - what a joke! McCain is only choice but needs to stand up for American workers and the rule of law - not change the law! No one is above the law and there's no human right to break into country. Look at the mess in CA - Congresswoman Woolsey, Senators Boxer & Feinstein are fixated on adding more democratic seats and turn a blind eye to anyone who isn't affiliated with racist groups instead of doing their jobs. They haven't helped CA - they should be replaced. No bailout.

The bailout with a $634 billion spending bill will be about 10 to 15% of the adjusted GNP. I think that would make the U.S. government the majority stockholder in the U.S. business. Bernie Sanders is just playing the double think game, laying out a smoke screen. This fits his socialist ideology to a T. Social Redistribution 1 - "massive redistribution of income from corporations and the wealthy to wage earners and the poor and the public sector, in order to provide the main source of new funds for social programs,income maintenance and infrastructure rehabilitation." WHERE WE STAND The Political Perspective of the Democratic Socialists of America

This program is the 'surge." We better have an "exit strategy" that returns all financial control to the free market. Without that exit strategy, this will socialize forever the mortgage programs. No more Fannies or Freddies after this problem is solved. I have heard NO discussion about how this ends! Only how it begins. If it ends with the government owning, or effective owning by controlling, the mortgage markets which means they will own much of the banking world, then let it fail now and keep the government out of it entirely. It was mostly government "regulation" that got us into this to begin with.

Corneilius is dead right as to the need for a specified exit strategy from leaving the Left in charge of the "over sight" and administration of this $700B slush fund. Aside from the continued power of political thugs like Dodd, Franks and Schumer, note the enormous payments to openly anti-American anti-freedom activist groups such as La Raza and Acorn, which a) was prominent in creating this mess by forcing loans to people who could never repay them, b) was represented by attorney Obama in this left wing, voter pandering, and c) has evolved from a political arm of the Left into a quasi-criminal organization with its various convictions of illegal voter registration fraud. 1)How much and Why are we going to pay Acorn to destroy our freedoms? 2) Where is the independent prosecutor or commission to review the failure of government in this mess?

Shocking Video Unearthed, Congress in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis http://www.youtube.com/watch?v=_MGT_cSi7Rs

When x Pres Reagan deregulated the Trucking Idustry around 1980, all hell let loose, most Tariffs were thrown out the window. How about the Air Traffic Controller's back in the early 80's that hurt many a folk in that industry. That was another one of Reagans Deregulation projects. I'm delighted that regulation is on its way back into the Fianancial Markets. The sqeeze has been on for a long time. First the poor felt it. Then the middle class felt it and are still feeling it. Now the wealthy are feeling it. We all had to,, and have to,, have our turn. The wonderful news is, the poor are doing well, they are living fairly well plus a bit more. The middle class are still paying the bills and conserving in other area's of their lives which benefits all of us in one way or another. The wealthy/rich/upper class they are really feeling the squeeze, the wonderful news is, they are the most influential/powerful/high ranking people/Class in the world and I assure you they can get things done extreamly quick. Actually being their getting hit so hard in their pockets these days they have no other choice but to make sure they support regulation in our fianancial markets which in the short and long run will be best for all of us including them. We all have the same thing in common which is, we all know the pain of the SQUEEZE.

Strange how the Socialist Sanders can blame Bush, But cannot Blame Barney or "Countrywide" Dodd.