Scott Pelley of 60 Minutes asked John McCain if he regretted helping the deregulation of Wall Street back in 1999 and McCain said no because it helped grow our economy to where it is today. Yes, that's his story and he's sticking to it. It helped out economy so much that President Paulson is asking for 700 billion dollars with no strings attached to save McCain's economy that is a step away from turning into another great Depression. Is he kidding me? We have another Enron type scandal on our hands in the financial markets only this scandal is on Super steroids. Paul Krugman shares a few thoughts with on us...

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Pelley: In 1999 you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?

McCain: No, I think the deregulation was probably helpful to the growth of our economy.

McCain has been an advocate of deregulation most of his career, but Thursday he endorsed the biggest bailout in history - a plan for the government to take on the bad debts of financial institutions.

 "We're gonna take over these bad loans. We're gonna take over these bad - these bonds and we're gonna keep you alive. And we're gonna have the taxpayer help you out. But when the time comes and the economy recovers then anything that's gained back is gonna go to the taxpayers first. I'm not saying this isn't gonna be messy. And I'm not saying it isn't gonna be expensive. But we have to stop the bleeding," the senator said.

Pelley: But why would you let the Wall Street executives...

 McCain: I'm not.

 Pelley: ...sail away on their yachts and leave this on the American taxpayer?

 McCain: Well, it's not the greedy Wall Street people that I worry about, although I am, like most Americans, frankly, enraged. It's basically a Ponzi scheme, as you know, that sooner or later was gonna collapse. And I'd like to get that money back from them. But we've gotta fix the average citizen who's the innocent bystander that is in danger of losing their pensions, their 401(k)'s, their IRAs. Their very life savings are at risk here. 

He doesn't worry about the greedy Wall Street people. They had nothing to do with it in McCain's mind. They did it because it was raining one day and they got a little bored. My God, please help us. A basic tenet of Conservatism is deregulation. Sorry Sully, yes, you've been conned...Get rid of all the rules that corporations have to follow, which in most cases cuts back on their profits so they can have an unfettered hand to do what they like without consequences. The end result is what we have now. A complete meltdown of our financial institutions.

It's also geared to destroy the New Deal and keep all the acquired wealth of the nation in only a very select group of people and corporations so they can have complete control of our nation. They all say how much they hated England back in the day, but that's what they really want. Kings and Queens and Dukes, oh my! A ruling class of moneychangers while the rest of us bow down to their awesome power.



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127 comments

Mr Deregulator, you need a haircut, right around the Adam's apple.

McCain '08 - the Dementia tour.

How can you take anything this guy says seriously...

John McCain showing symptoms of dementia and/or Alzheimer's...
http://www.youtube.com/watch?v=iWX5u69hmzY

John McCain awkward at Sturgis Motorcycle Rally in South Dakota..
http://www.youtube.com/watch?v=sK-LEyyf7d4

Let Nader in the debates. They will be very interesting, even if he is the only one that shows up.

there's gonna be some bowing down to an awesome power alright...

.

De-regulation DID help the economy grow. It helped with venture capital and a lot of internet business. It also helped the banking industry grow, so there really isn't a dispute there. But it went too far. The amount of deregulation was excessive and people knew it at the time, including McCain. But they allowed the idea of unchecked greed to morph into growth.

The facts are there, but McCain and his ilk blew it big time.

Let these bastards crumble. Then slap a 90% tax on the Rich including estate tax. . and no taxes on American citizens who got ripped off by Wall Street until that money is returned to the rightful owners.

McCain - was for deregulation before he he was against it, but still kinda for it, because it really did help, but of course not so much, but we shouldn't overreact, unless we really need to, and this time we really need to, because well...this is bad...but not so bad that we need to totally regulate again, because that could make things worse, but nothing is worse than what is happening to the American people right now...and he's with them, but he would counsel them to be cautious so that too much regulation doesn't make it worse...

That about sum up his position?

Why are we bailing these people when we should be jailing them?

He's either lying right through his fucking teeth, is in absolute denial that he's partially responsible for this meltdown, or he actually believes his own bullshit.
Any of which casts him in a sinister light.
Take your pick.

Bush is notorious for appointing people to positions for which they are not qualified. Remember Brownie. So now we are supposed to trust Secy. Paulson with $700B to do with as he sees fit. How do we know Paulson knows what he is talking about? I do not trust Paulson, I do not trust the Bush administration, and I do not trust McCain on this. McCain is being fed everything he says and he is so afraid of losing this election he will do what he is told. Hopefully the Democrats will stick by their position on this bailout and not let the Republicans get by with their demands. The Republicans are very good at playing on the fears of the American people but this time we must stand firm and not rush into something just because the Republicans say we should.

Sure deregulation helped the economy grow... but at the same time it's causing the collapse.

So, for Republicans it comes out about even, but they've made their money, lost other people's money and want to be compensated for it.

Did CBS use a filter when McCain was on camera? It looks like one of those filters they used to use on aging actresses in the 40's.

What a shameless liar. This guy's contradictions are breathtaking. Grandpa can't help himself anymore.

A wonderful article that goes right at the heart of the whole thing:
How We Became the United States of France
By BILL SAPORITO
http://www.time.com/time/nation/article/0,8599,1843168,00.html

And, having watched McCain's 60 Minutes interview last night, I kept asking myself how in the hell this stupid, out of touch, old fool is dead even with Obama.

Alice X - (Chomsky Nader) - status quObama - change you can pretend in - @ 4:

Let Nader in the debates. They will be very interesting, even if he is the only one that shows up.

I think Nader and Bob Barr and Cynthia McKinney should take all the debate questions the night after the "big" debate and answer them in a forum televised by CSPAN. Probably Bill Moyers would agree to moderate it.

As to this whole financial debacle that is unraveling before us, here is a troubling article I read today which should make all of us exclaim, "A pox on ALL their houses!!!":

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

And this certainly isn't going to help Obama and the Dems:

http://wnd.com/index.php?fa=PAGE.view&pageId=75852

What a way to start the week. Oh boy.

Chuck U @ 13:

Did CBS use a filter when McCain was on camera? It looks like one of those filters they used to use on aging actresses in the 40's.

Yeah. McCain only looks 70.

Deregulation had absolutely nothing to do with growing our economy. Give me a break.

Just once I'd like to see a journalist hold McLame's feet to the fire and NOT let him dodge questions.

I LIKE IT!

DON'T BAIL 'EM, JAIL 'EM!

Liberal AND Proud @ 8:

McCain - was for deregulation before he he was against it, but still kinda for it, because it really did help, but of course not so much, but we shouldn't overreact, unless we really need to, and this time we really need to, because well...this is bad...but not so bad that we need to totally regulate again, because that could make things worse, but nothing is worse than what is happening to the American people right now...and he's with them, but he would counsel them to be cautious so that too much regulation doesn't make it worse...

That about sum up his position?

ROFLMAO

Oh, here's another gaffe by John McCain where he confuses the National Guard with the Army:

http://www.youtube.com/watch?v=jqavpO66f2w

The debate this Friday between Obama and McCain will prove to be McCain's undoing. No teleprompters, no hidden mikes up their backs (I hope).

I LIKE IT!!!!

DON'T BAIL 'EM, JAIL 'EM!

We are living in a third world country now thanks to assholes like McCain. Plenty of them on the Dems side that sold us all down the river also.

liberalNmoderation @ 10:

He's either lying right through his fucking teeth, is in absolute denial that he's partially responsible for this meltdown, or he actually believes his own bullshit.
Any of which casts him in a sinister light.
Take your pick.

Liberal, I actually believe that each of your points on this career fraud are true. This old freak as President should be scaring the fuck out of everyone.

biggest.asshat.ever

and palin is just the pretty bow tied onto that asshat

But we’ve gotta fix the average citizen who’s the innocent bystander that is in danger of losing their pensions, their 401(k)’s, their IRAs. Their very life savings are at risk here.

If only we could use that $700 billion dollars to build up some sort of social safety net to protect people from the uncertainty of free market capitalism. Some sort of security administration of some type. That way, there would be some protection for people who have had to gamble their life savings and their pensions on the stock markets because there was no safer investment available to them. If only we could put this money in some sort of "lock box" and pay it out in a kind of government pension.

Is McCain delusional? WTF? We are in a seriuos meltdown, and he thinks deregulating was good a thing to do? Dear Lord, We are in WonderLand. I need to escape into a bottle of beer.

"was probably helpful"
translation: i haven't a friggin' clue...

"not the greedy Wall Street people that I worry about"
translation: they're my buds and they'll take care of me... i worry about voters seeing through my b.s.

"anything that’s gained back is gonna go to the taxpayers"
translation: say buh-bye to your money

"we’ve gotta fix the average citizen"
translation: we've gotta step up our disinformation

"in danger of losing their pensions"
translation: i need to deregulate some more as potus so that i can cash in

Free market fundamentalists are so enthralled with their Grand Unification Theory that whatever happens in the real world, however many lives are ruined on the way to the realization of the theory, is immaterial. It's no wonder that they would find their soul mates in fanatical anti-abortion terrorists.

P.D. @ 27:

Is McCain delusional? WTF? We are in a seriuos meltdown, and he thinks deregulating was good a thing to do? Dear Lord, We are in WonderLand. I need to escape into a bottle of beer.

No. Delusional was LAST year. Dementia is THIS year. Loss of bladder control is NEXT year. In home care the FOLLOWING year...until Cindy can find a nice assisted living facility by 2011.

sofla @ 15:
And, having watched McCain's 60 Minutes interview last night, I kept asking myself how in the hell this stupid, out of touch, old fool is dead even with Obama.

I do not have much faith in the polls but even that being said it is too close and scary. One reason McCain is so close is that many Americans are racist and will never vote for a black man. Sad. If these people would stay home on November 4th it would be OK with me.

If McCain was 40 or 50 years old I wouldn't be so afraid but with his age and health, both mental and physical, it is truly scary to think Palin is waiting for that last heart beat. She truly believes she is ready to step up and be POTUS. Now THAT is scary. (I just noted how many times I used the word scary. (Does that indicate how I really feel?)

He is right. You guys just have a liberal definition of the word "our"... the conservative definition is MUCH different.

sofla @ 15:

A wonderful article that goes right at the heart of the whole thing:
How We Became the United States of France
By BILL SAPORITO
http://www.time.com/time/nation/article/0,8599,1843168,00.html

And, having watched McCain's 60 Minutes interview last night, I kept asking myself how in the hell this stupid, out of touch, old fool is dead even with Obama.

...because of examples like today being the first time ever that cnn's run a ticker which indicated obama's cutting taxes for the middle class... before that... bupkas... they've glossed over mcliar's lies and have cut obama at every turn... the msm provides all sorts of airtime and consideration and slack for the rethugs... but they've shit on obama each and every time they've had an opportunity to... even the earlier "fascination" with obama was entirely skeptical and "rebutted" by plenty of input from the cons...

Liberal AND Proud @ 8:

McCain - was for deregulation before he he was against it, but still kinda for it, because it really did help, but of course not so much, but we shouldn't overreact, unless we really need to, and this time we really need to, because well...this is bad...but not so bad that we need to totally regulate again, because that could make things worse, but nothing is worse than what is happening to the American people right now...and he's with them, but he would counsel them to be cautious so that too much regulation doesn't make it worse...

That about sum up his position?

Freakin' Perfect!

Why would McCain care about execs sailing away on their yachts?
He's no different than any of them.

A basic tenant of Conservatism is deregulation.

A basic conservative tenant is to not piss money away on stuff like this.
True conservatives would be letting all the crooks eat shit and die now,
if they ever let this kind of crap happen in the first place.

In the world of human, and political, behavior bailing out thieves, not to mention
letting them run loose in the first place, is actually quite liberal.

Left&Left @ 24:

liberalNmoderation @ 10:

He's either lying right through his fucking teeth, is in absolute denial that he's partially responsible for this meltdown, or he actually believes his own bullshit.
Any of which casts him in a sinister light.
Take your pick.

Liberal, I actually believe that each of your points on this career fraud are true. This old freak as President should be scaring the fuck out of everyone.

Mornin, L&L
Yeah...it's only scaring the people that actually are smart enough to know what he's really about.

Astro @ 9:

Why are we bailing these people when we should be jailing them?

thanks to deregulation, nothing done was illegal just immoraly reckless. but "trust them", they'll fix everything they broke - and make themselves a profit while they're at it.

He doesn't know what the fu*k to say until someone tells him or the occasion speaks for itself. Deregulation? Sure if it helps the fat cats. Regulation? Sure if it gets him votes.

Who the hell is even still listening to him? He doesn't give a flying shit about you, me or anyone else. Right now it's all about winning an election and no lie is too big to tell to attain that goal. Take Palin for example, you know he knows damned good and well that she is about the worst person he could have chosen for a running mate, yet he chose her. He chose her because he was told he would lose without her. Country first? I fu*king doubt it. Ego first and country wherever there's room on down the line.

liberAL @ 11:

Bush is notorious for appointing people to positions for which they are not qualified. Remember Brownie. So now we are supposed to trust Secy. Paulson with $700B to do with as he sees fit. How do we know Paulson knows what he is talking about? I do not trust Paulson, I do not trust the Bush administration, and I do not trust McCain on this. McCain is being fed everything he says and he is so afraid of losing this election he will do what he is told. Hopefully the Democrats will stick by their position on this bailout and not let the Republicans get by with their demands. The Republicans are very good at playing on the fears of the American people but this time we must stand firm and not rush into something just because the Republicans say we should.

McCain is notorious for the same.. remember Palin

The proposed Wall Street bailout is Bush administration CODE BROWN v3.0.

CODE BROWN v1.0, of course was the AUMF: "Give me unlimited authority to attack Iraq, or EVERYONE WILL DIE!"

CODE BROWN v2.0 was the AUSS: "Give me unlimited authority to secretly spy on anyone, or EVERYONE WILL DIE!"

Now comes the CEO-in-Chief's / MBA President's swan song, v3.0, the AUTM: "Give my Treasury Secretary unlimited authority to use taxpayers' money to bail out the financial industry, without any oversight, or EVERYONE WILL DIE!"

Time to get your "Mission Accomplished" banner back from the dry cleaners and ready to hang from the portico, George. Your crony looting of the federal till is nearly complete. Which, of course, is why you were installed into office in the first place. Heckuva job.

new word otter @ 5:

there's gonna be some bowing down to an awesome power alright...

.

I hope that awesome power is the American people who eventually will stand up and say ENOUGH ALREADY!!!

Is it me or is every answer this guy gives the wrong answer?

McCain looked really odd in this interview--like someone botoxed the crap out of his face.

the mclame & paltry campaign is in it's 'final throes'....watch the pork and spinning lies unravel!

They should strip mine the assets of the executives and investment bankers, write down to their f'en Rolexes. Then maybe I'd be in favor of a bailout.

1789 France. Look it up.

Liberal@30, It feels like Reagan all over again. McCain has serious lapses, whether confusing Sunnis and Shites, how many homes he owns. Jesus! He owns dozens of vehicles (some which are foreign, I might add). Why aren't the Righties up in arms over that!

Billy @ 35:

Why would McCain care about execs sailing away on their yachts?
He's no different than any of them.

A basic tenant of Conservatism is deregulation.

A basic conservative tenant is to not piss money away on stuff like this.
True conservatives would be letting all the crooks eat shit and die now,
if they ever let this kind of crap happen in the first place.

In the world of human, and political, behavior bailing out thieves, not to mention
letting them run loose in the first place, is actually quite liberal.

"True conservatives" - there's your problem.

and just to jog your memories....

McSame was a member of the Keating 5...remember the S&L scandal during the Bush 1 term?

The McCain-Keating Connection By Progressive Accountability
September 19, 2008
http://www.thenation.com/doc/20081006/keating_video

sofla @ 15:

A wonderful article that goes right at the heart of the whole thing:
How We Became the United States of France
By BILL SAPORITO
http://www.time.com/time/nation/article/0,8599,1843168,00.html

And, having watched McCain's 60 Minutes interview last night, I kept asking myself how in the hell this stupid, out of touch, old fool is dead even with Obama.

Excellent TIME's article.

Looks like the deregulator needs a defibrulator.

reichwingers are already complaining that the Democratic led Congress is moving too slow on the bailout, because they want such niggly little details as new regulations and caps on executive compensation packages.

Filthy Harry @ 42:

Is it me or is every answer this guy gives the wrong answer?

Heh.. Yes.. It is not just you.

The only response these "free-market" "conservative" dead-enders should ever hear is this line I once used on a co-worker;
"I am so tired of you always being wrong."

McCain’s Lobbyist Cronies: Their Deregulation Push Set The Stage For The Meltdown
By: Christy Hardin Smith Monday September 22, 2008 7:02 am
http://firedoglake.com/2008/09/22/mccains-cronies-did-mccains-lobbyists-...

Who would have ever guessed that a man that was caught up in one financial scandal (Keating) would get caught up in another one? /snark

right on! @ 41:

new word otter @ 5:

there's gonna be some bowing down to an awesome power alright...

.

I hope that awesome power is the American people who eventually will stand up and say ENOUGH ALREADY!!!

definitely where i was heading with that...

.

Hmmmmm.. no a clever sort would take the snippet, the first 12 seconds, where he says that he'd deregulate the Wall Streeter's again, add a little voice over with footage from the Depression era food lines about the where we are as a country economically, the start McCain up again at 1:04 where it contradicts himself with "It was basically a ponze scheme." If the Depression footage is too stark, just use some of the numbers involved in the bailout, not to mention the parachute packages the CEOs are getting.

thomas @ 29:

Free market fundamentalists are so enthralled with their Grand Unification Theory that whatever happens in the real world, however many lives are ruined on the way to the realization of the theory, is immaterial. It's no wonder that they would find their soul mates in fanatical anti-abortion terrorists.

Yes, and when their theories are put into practice and flame out, plunging people into poverty, they blame it on not having implemented free market reforms in a pure enough form. They're insane.

Why would a 7 home, 13 car, 100 million dollar owning asshole give a flying fuck about anyone but himself? His lobbyist friends are happy so all is right with the world. And as soon as they can get dumbya to sign over all those billions they'll be even happier. See?? Problem solved.

Anyone who votes for these scum sucking bottom feeders deserves everything they get.

AManWithoutAName @ 44:

the mclame & paltry campaign is in it's 'final throes'....watch the pork and spinning lies unravel!

McCain & Palfrey for President. DC Madam. Deborah Jeane Palfrey

Liberal AND Proud @ 8:

McCain - was for deregulation before he he was against it, but still kinda for it, because it really did help, but of course not so much, but we shouldn't overreact, unless we really need to, and this time we really need to, because well...this is bad...but not so bad that we need to totally regulate again, because that could make things worse, but nothing is worse than what is happening to the American people right now...and he's with them, but he would counsel them to be cautious so that too much regulation doesn't make it worse...

That about sum up his position?

Perfect.

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

Mark Cartwright @ 61:

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

You can write in "Mickey Mouse" if you want... it will have the same impact as voting for Nader.

sofla @ 62:

Mark Cartwright @ 61:

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

You can write in "Mickey Mouse" if you want... it will have the same impact as voting for Nader.

DONALD DUCK!

xoites defends Constitution @ 63:

sofla @ 62:

Mark Cartwright @ 61:

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

You can write in "Mickey Mouse" if you want... it will have the same impact as voting for Nader.

No... not Donald... you just know he's a wingnut with an anger problem... if that's what you want, vote for McCain!

DONALD DUCK!

The next question should have been "What's a Ponzi scheme?"

I'd be willing to bet McCain would have no clue.

xoites defends Constitution @ 63:

sofla @ 62:

Mark Cartwright @ 61:

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

You can write in "Mickey Mouse" if you want... it will have the same impact as voting for Nader.

DONALD DUCK!

Yeah. GOOFY already had two terms.

John--
Sorry for the english lesson, but it's not "tenant of Conservatism", but "tenet of conservatism">. A 'tenant' is someone who rents and occupies property....A 'tenet' is a basic principle.

Filthy Harry @ 42:

Is it me or is every answer this guy gives the wrong answer?

If this shit wasn't so important it would one funny ass reality show. The fact that people are seriously considering putting this nutty old mutt in office is mind boggling.

sofla @ 64:

xoites defends Constitution @ 63:

sofla @ 62:

Mark Cartwright @ 61:

You can write in "Mickey Mouse" if you want... it will have the same impact as voting for Nader.

No... not Donald... you just know he's a wingnut with an anger problem... if that's what you want, vote for McCain!

DONALD DUCK!

But i trust Donald Duck so much more.

caseynm @ 67:

John--
Sorry for the english lesson, but it's not "tenant of Conservatism", but "tenet of conservatism">. A 'tenant' is someone who rents and occupies property....A 'tenet' is a basic principle.

Republican economic policies will make all middle Americans tenants of conservatism.

Mark Cartwright @ 61:

When I cast my vote for Nader this November, if McCain wins, does that mean I voted for Bush? But if Obama wins, does that mean I actually voted for Gore? If Nader wins, does that mean I really voted for Nader? Somebody spin this for me. I just thought that I had some silly right to vote for Joe Blow if I wished, and the candidate who got at least 270-electoral votes became president...dumb me.

No one needs to "dumb" you. Just stay home and wash your car.

Yeah of course Gi John, You care about our retirement packages... (the little people)

And are enraged (as usual) with the Exec's ... which is why you are going to cut their taxes... So .. it can .. trickle down on us??!?

I am confused..

I think were getting a drop of lubricant... but it is still a brutal rape... maybe that's not astroglide afterall..

Its not..

Its blood..

Oh my God... is only really just begun...

The plunging..

Not to be a member of the grammar gestapo but I think you mean deregulation is a basic TENET of conservatism and not tenant.

A tenet is a principle, opinion, dogma or doctrine which someone believes while a tenant is someone who rents an apartment in your building.

sofla @ 57:

thomas @ 29:

Free market fundamentalists are so enthralled with their Grand Unification Theory that whatever happens in the real world, however many lives are ruined on the way to the realization of the theory, is immaterial. It's no wonder that they would find their soul mates in fanatical anti-abortion terrorists.

Yes, and when their theories are put into practice and flame out, plunging people into poverty, they blame it on not having implemented free market reforms in a pure enough form. They're insane.

Politics is really a discussion about the role of government. The Republicans believe that the government should have no role. The best way to keep the government from having a role is to create huge debts that cripple the government. Republicans are really closet anarchists. I wonder how much of this banking scandal is real; how much of it is the Republicans trying to strap the government with enough debt to cripple it.

caseynm @ 67:

John--
Sorry for the english lesson, but it's not "tenant of Conservatism", but "tenet of conservatism">. A 'tenant' is someone who rents and occupies property....A 'tenet' is a basic principle.

Doh! You must type much faster than I do.

Anyone see Paulson on Brokaw yesterday? Very revealing moment when he compares this to the S&L crisis/bailout of the Regan/Bush I era. He refers to the RTC and how, having the failed, the government came in with money and took over the assets, REAL PROPERTY, of the failed institutions. He then adds how this is different, that the government is not waiting for the institutions to fail this time, but is rather taking over the bad debts of these institutions absent the asset itself, the property in other words (read equity).

In part, I can see why. This frees the institutions to act on delinquencies through foreclosure, etc. while allowing the government to seemingly keep its hands clean of the not very nice litigation and, thereby, precluding those taxpayers who didn't bury themselves in debt through pyramid real estate mortgage schemes with the liabilities of those who did. The risk to taxpayers is the uncollateralized loans to these institutions, however.

Arguably, someone could also make the case that the government simply isn't capable of administering so many properties should mortgage defaults cascade further. However, there is also the perception that the government is acting on behalf of the corrupted financial institutions who will, ultimately, act to enforce the contracts on the borrowers to their great detriment and with the governments wink and nod.

Flip Flop McCain
This guy is unbelievable and those who will vote for him need their ASS kicked from here to Timbuctoo

No, I think the deregulation was probably helpful to the growth of our economy:

Translation: It has helped to make the fat cats of Wall Street fatter by allowing shady, underhanded and illegal dealing, all the while setting things up for EVEN more of the Peoples money to fall into fewer and fewer controlling hands. The Government wants it all, and they will get it one or the other.

Someone got very, very rich on this last little financial 'emergency'.

No fool like an old fool: McCain.

Seems the Grammar police is in full force this morning.
Someone ever thought for some english is their second language and they are trying?

Conservatives worldwide believe that if a service needs to be provided, someone must make a profit. To that end, taxes are paid to ensure those profits. Quite simple really.

Uppity Blue Lensman @ 19:

Just once I'd like to see a journalist hold McLame's feet to the fire and NOT let him dodge questions.

Exactly what my wife and I said while watching the two men talk. While Obama took every hard question Steve Kroft threw at him and answered every one, giving specifics (even though we didn't agree with everything he said), McCain dodged, repeated talking points that had nothing to do with the questions, and contradicted himself. And Pelley never dug further to reconcile the contradictions.

My wife--you'd have to know her to know how unusual this is--screamed at the TV, "C'mon, Pelley, what, are you afraid of him?" I wonder if that's it--reporters must be afraid of either losing access to him or scared of his temper. They never make him clarify when what he says makes no sense or lacks detail.

Look for Palin to do the same thing in her debate with Biden. She'll repeat all kinds of Republican buzz-words, but to questions that have nothing to do with them. The only question I have is, will Gwen Ifill let her get away with that? She didn't in her two interviews with Obama.

I want to comment on McCain's response to the question about Palin being qualified to be President if he became disabled or died in office: While shaking his head no, his mouth was saying "Absolutely". Actions speak louder than words right?

** Palin, perils of consuming junk-food faith **

• Palin’s vision for US is “Gilead”

A fragment of a failed America, Gilead is a nation controlled by christian fundamentalist terrorists and their transnational corporate overlords. (Search term: dominionism)

In The Handmaid’s Tale, Canadian novelist Margaret Atwood evokes a dystopia in which women have been stripped of all rights. Gilead is Ameristan, complete with christian Taliban. (A film appeared in 1990. IMDb.com/title/tt0099731)

• Ameristan - “the kingdom of god is within you”

The US is an aberration among developed nations in its affinity for xian enthusiasms and in its failure to accept basic truths like evolution via natural selection. A plurality of Americans think that evolution does not take place. (http://pewforum.org/surveys/origins/)

A nation overwhelmingly god-fearing also overwhelmingly rejects science. Millions lack a critical intelligence to evaluate the garbage they stuff into their brains. Palin is one of them. Her disinformed science -- dinosaurs and humans walked together -- and unchecked egoism reinforce each other.

Palin’s sick sexual ideology is pro-mass-death: creating disease, poverty, and ignorance by fostering overpopulation, damning safe non-reproductive sex, and blocking responsible medical research.

• Mythology becomes ideology - building Ameristan here and now

McCain's calculated cynicism in selecting ultra-right Palin reveals his lack of judgment and his capricious nature. He’s no “maverick”. He's mentally unfit for duty.

Palin’s dominionist delusions are ideological madness. Her fundie xianity is a toxic ersatz for public policy, domestic and foreign. She is a throwback to the mental and moral world before 1850. Like G. W. Bush, she is dangerous for her lack of imagination, absence of intelligence, and an inverted elitism common among consumers of junk-food faith.

Super-size me Jesus!

"It’s basically a Ponzi scheme, as you know, that sooner or later was gonna collapse."

Mission accomplished!
How much did you manage to rake off, old man.

Just try to shake your head no while saying yes. Does it feel right to you?

Zenrage @ 66:

The next question should have been "What's a Ponzi scheme?"

I'd be willing to bet McCain would have no clue.

Fonzi's long-lost con-artist cousin.

Do you think Sarah Palin can grasp what is actually happening here?
McCain looks confused.

This is , in fact, quite complicated.

We have Ponzi Schemes, Credit Default swaps,Collateral Debt Obligations( CDO's), Deregulation loopholes, Short Selling, Derivatives , etc.,etc.

No wonder the Investment Bankers did not know what they were doing.

"Admittedly my understanding of surgery is pretty hazy, but I really think that all this red tape about cleaning the tools between operations is a big waste of time and money." --Jimbo McCain, from Conservative Medicine

They all say how much they hated England back in the day, but that’s what they really want. Kings and Queens and Dukes, oh my! A ruling class of moneychangers while the rest of us bow down to their awesome power.

Precisely!

Nada @ 59:

Why would a 7 home, 13 car, 100 million dollar owning asshole give a flying fuck about anyone but himself? His lobbyist friends are happy so all is right with the world. And as soon as they can get dumbya to sign over all those billions they'll be even happier. See?? Problem solved.

Anyone who votes for these scum sucking bottom feeders deserves everything they get.

You forgot to mention the $1,978/mo. McCain collects in Social Security! "I'll get mine! Fuck you!"

Zenrage @ 66:

The next question should have been "What's a Ponzi scheme?"

I'd be willing to bet McCain would have no clue.

Ponzi?

Wasn't that Fonzi's pet name for Pinky Tuscadero's poonanny?

Only an old, out of touch person would use the "very popular in the early 1920's" term, "Ponzi Scheme."

"I, like most Americans, am enraged. See my face? Grrrr. Grrrr. Grrrr!. Arrrr! Hulk write strongly-worded letter to chairman of Hulk's campaign! Grrrr!"

bipolar2 @ 85:

** Palin, perils of consuming junk-food faith **

• Palin’s vision for US is “Gilead”

A fragment of a failed America, Gilead is a nation controlled by christian fundamentalist terrorists and their transnational corporate overlords. (Search term: dominionism)

In The Handmaid’s Tale, Canadian novelist Margaret Atwood evokes a dystopia in which women have been stripped of all rights. Gilead is Ameristan, complete with christian Taliban. (A film appeared in 1990. IMDb.com/title/tt0099731)

• Ameristan - “the kingdom of god is within you”

The US is an aberration among developed nations in its affinity for xian enthusiasms and in its failure to accept basic truths like evolution via natural selection. A plurality of Americans think that evolution does not take place. (http://pewforum.org/surveys/origins/)

A nation overwhelmingly god-fearing also overwhelmingly rejects science. Millions lack a critical intelligence to evaluate the garbage they stuff into their brains. Palin is one of them. Her disinformed science -- dinosaurs and humans walked together -- and unchecked egoism reinforce each other.

Palin’s sick sexual ideology is pro-mass-death: creating disease, poverty, and ignorance by fostering overpopulation, damning safe non-reproductive sex, and blocking responsible medical research.

• Mythology becomes ideology - building Ameristan here and now

McCain's calculated cynicism in selecting ultra-right Palin reveals his lack of judgment and his capricious nature. He’s no “maverick”. He's mentally unfit for duty.

Palin’s dominionist delusions are ideological madness. Her fundie xianity is a toxic ersatz for public policy, domestic and foreign. She is a throwback to the mental and moral world before 1850. Like G. W. Bush, she is dangerous for her lack of imagination, absence of intelligence, and an inverted elitism common among consumers of junk-food faith.

Super-size me Jesus!

What's another term for dinosaurs?

Jesus horses.

A basic tenant of Conservatism is deregulation? Uh, no, that would be a basic tenant of Liberalism (less restrictions). Can we please stop using liberal and conservative when we really mean Republican and Democrat. Both parties are generally conservative.

Carol @ 81:

Seems the Grammar police is in full force this morning.
Someone ever thought for some english is their second language and they are trying?

Ummm....what?

why are they shooting him with a soft lens? We all know he's old1

deregulation is good....but we have to bail out all the companies who were stealing thanks to deregulation

he is furious, but he thinks his judgement is sound

he set up the system that allowed the ponzi scheme to occur, but the way he is talking, it seems he would do it all over again

bush 1 was right....reaganomics is voodoo economics

30 years of it and it imploded

say what you will about the new deal, but it never caused the economy to implode....and under it, we still made stuff

here is what you do....rescind all trade agreements, reinstitute all tariffs....take the 700 billion and put everyone to work making shit, increase the minimum wage....its time for trickle up economics

i went to jr high in a building that roosevelt had built through the wpa...one of the most beautiful schools i ever attended....it still stands today, as does the swimming pool and park that were built through the wpa across from my home....those still stand thanks to roosevelt and his far reaching programs

everything built through reaganomics collapsed on friday

trixr4kids @ 99:

why are they shooting him with a soft lens? We all know he's old1

Because it aired during prime time...and the network didn't want to scare the children and family pets.

Uncle Joe Mccarthy @ 100:

deregulation is good....but we have to bail out all the companies who were stealing thanks to deregulation

he is furious, but he thinks his judgement is sound

he set up the system that allowed the ponzi scheme to occur, but the way he is talking, it seems he would do it all over again

bush 1 was right....reaganomics is voodoo economics

30 years of it and it imploded

say what you will about the new deal, but it never caused the economy to implode....and under it, we still made stuff

here is what you do....rescind all trade agreements, reinstitute all tariffs....take the 700 billion and put everyone to work making shit, increase the minimum wage....its time for trickle up economics

i went to jr high in a building that roosevelt had built through the wpa...one of the most beautiful schools i ever attended....it still stands today, as does the swimming pool and park that were built through the wpa across from my home....those still stand thanks to roosevelt and his far reaching programs

everything built through reaganomics collapsed on friday

Even Nancy Reagan's bridgwork fell out.

I woulda been here sooner but I was having lunch

Frommage pomme avec au gratin.

Oopsie my bad:

Fromage pomme avec au gratin.

yes this fachist bastard put the umph in outsourceing jobs to timbucktoooooooooo , with his dereulations, time for the second comming of the geotine off with thier collar holders!

McCain: No, I think the deregulation was probably helpful to the growth of our economy.

yeah, helped it right up to the cliff and pushed it off.

McCain blames a "Ponzi scheme" for the financial crisis but still thinks deregulation was the right thing to do??? What does he think allowed the "Ponzi scheme" to happen? He's talking out of both sides of his mouth and it's not even one shred believable.

Well Johnny McHoover, you just made my case.

YOU DO NOT KNOW WHAT THE HELL YOU ARE TALKING ABOUT AND SHOULD BE LOCKED AWAY AS SOME OLD FOLKS HOME FOR SENILE OLD POWS.

just how much can we get for thoes mangos from india bush traded for with thoes nukes maby wall street can sell them and become solvent again!

"helpful to the growth of our economy"

Ahhh ... that would be to his personal economy and that of his rich buddies.

This is where McCain just doesn't get it. He lives in one small world - the top 2% - and the rest of America - the other 98% - are dealing with the effects of the top 2%'s egregious, rapacious greed and inhumanity.

"Trickle Down Economics" is one of the biggest frauds ever perpetrated on the American Public.

A question for all the brain-dead bush lemmings . . .

Where's YOUR golden parachute?
*

What a complete asshole.
Growth of the economy Kneecapping of the economy is more like it.

Paulson's great plan is just to keep the house of card from collapsing before the election. The rich are climbing into their escape pods and zipping off to countries with no extradition and no banking laws.

Of course McCain doesn't want to focus on the people who caused this mess or hold any (or better - all) of their personal assets liable, because he is enrolled among the guilty. He wouldn't want "his" wealth at risk.

The people who ran these companies and their scams need to be stripped of their assets, leaving enough only so that their families can live as trailer trash, while they themselves live the rest of their lives in prison.

If we the tax payers are buying these companies, I want us to have they keys to the doors and the deed to their properties and assets of those companies. We nationalized them buy buying them, so I want to take possession of them, too.

If we were a nation governed by the rule of law, every one of these parasites would be fearing for their freedom and their lives right now.

111 waterboarding for jesus Says: What a complete asshole.
Growth of the economy Kneecapping of the economy is more like it.
________________________________________________________________

mcgramps is putting Tanya Harding on his cabinet?

This is the fault of REPUBLICAN ideology that dismantled every regulation and every safeguard that has been put in place since the last fleecing of the country. It took WWII and massive help from the gov't (YES, the FDR gov't) to correct the foolishness that caused the great depression.

You clearly have NO idea of history, and that is giving you the benefit of the doubt for JUST being ignorant. If you DO understand history, then you are all traitors who should be forcibly removed and at the very least jailed if not executed. YOU did this with your stupidity and greed.

May all you republicans rot!!

Powkat @ 112:

Paulson's great plan is just to keep the house of card from collapsing before the election. The rich are climbing into their escape pods and zipping off to countries with no extradition and no banking laws.

EXACTLY!!

McCain 08,
No to Regulators, Yes to Defibrillators.

Here is an Ideal, how about we bring our troops home and close 130 bases down around the world.

what a fucking asshole.
on second thought, two assholes.

Uncle Joe Mccarthy @ 100:

deregulation is good....but we have to bail out all the companies who were stealing thanks to deregulation

he is furious, but he thinks his judgement is sound

he set up the system that allowed the ponzi scheme to occur, but the way he is talking, it seems he would do it all over again

bush 1 was right....reaganomics is voodoo economics

30 years of it and it imploded

say what you will about the new deal, but it never caused the economy to implode....and under it, we still made stuff

here is what you do....rescind all trade agreements, reinstitute all tariffs....take the 700 billion and put everyone to work making shit, increase the minimum wage....its time for trickle up economics

i went to jr high in a building that roosevelt had built through the wpa...one of the most beautiful schools i ever attended....it still stands today, as does the swimming pool and park that were built through the wpa across from my home....those still stand thanks to roosevelt and his far reaching programs

everything built through reaganomics collapsed on friday

they wanted to undo the new deal. the only thing left is social security and they have already mentally prepared the next generation to think it won't be around.

Alice X - (Chomsky Nader) - status quObama - change you can pretend in - @ 4:

Let Nader in the debates. They will be very interesting, even if he is the only one that shows up.

What would you say about someone who keeps doing the same thing over and over again and keeps expecting a different result?

http://econrevival.blogspot.com/2008/01/definition-of-crazy-doing-it-aga...
Republican "experts" throwing the dice when it comes matters of national economic policy shows their craziness.

People who think that by voting for a third party candidate they are really showing them nasty republicans how much political capital third-partiacs have and how much of a political force that they are to be reckoned with, and they keep doing it in spite of the same results, could be pigeon-holed into that generalization.

What is your plan of action after the election?

Someone needs to compile the definitive list of John McCain flip-flops. I don't even know what the guy stands for other than being erratic.

My god....how many crimes do we have to sit back and witness. Hang these motherfuckers!

Riiiight... and eating raw Crisco is a great way to gain weight

and have a heart attack.

Something he said later in the broadcast caught my attention. He said he was for getting rid of subsidies for sugar. I have relatives who grow sugar down in Louisiana who would be VERY upset about that. That comment could possibly turn the Louisiana Blue.

Pollsters do not call those with cell phones. That means that calling 1700 people via land line is not a true representation for who is supporting who. On Nov 4 it will be evident that those numbers were flawed. This is why the poll numbers appear so close.

Unbelievable how many brain dead, Reslug sheep, believe their Moron McBush will be good for our country. WAKE UP BLIND, SHEEP!! It would be disasterous as we now are seeing what Alzheimers McBush voted to let happen to us now.

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