WSJ Says Banking Culprits are Riding McCain's Bus
By bluegal Wednesday Sep 24, 2008 9:00pm
[An on-topic 30-second spot from Media Needle.]
Thomas Frank is the Wall Street Journal's resident liberal, still, this has gotta hurt:
Last week, Republican presidential candidate John McCain called for a commission to "find out what went wrong" on Wall Street. It was an excellent suggestion: Public inquiries into Wall Street practices served the country well in the 1930s.
And Mr. McCain has a special advantage to bring to any such investigation -- many of the relevant witnesses are friends or colleagues of his. In fact, he can probably get to the bottom of the whole mess just by cross-examining the people riding on his campaign bus. So the candidate should take a deep breath, remind himself that the country comes first, pull the Straight Talk Express over at a rest stop, whistle up his media pals, and begin.
Read on. Phil Gramm's wife's connection to Enron? Cindy was having tea with the Keating Five in comparison.
Login or Register to post comments.
Yes but Obama was endorsed by Hamas!!
But Maverick McCain Still Puts His Stamp for ‘Change’ on Wall St
http://satiricalpolitical.com/?p=3466
OT; Just saw Barney Frank give a speech. This is a nightmare. McSame is going to skip out of the debate. Maybe that is a good thing.
Looks like the McCains know when to bail out! :-(
Regulators close down Nevada's Silver State Bank , Andrew McCain, the son of Republican presidential nominee Sen. John McCain of Arizona, was a member of Silver State's board and also its three-member audit committee.
http://www.marketwatch.com/news/story/regulators-close-down-nevadas-silv...
Too bad McCain did not push for investigations of these companies months ago. They knew what was coming. What timing to drop that in the laps of our Reps last Friday. With McCain dropping out of the debate and pushing for a return to D.C. (when all he served to do was confuse the situation, he had not even read the proposals) this is all threatrics.
Now here is a doozy.
Heard McCain was going to send in Palin to debate Obama tomorrow night.
Just kidding
How would that be to have that repeated in the MSM
Nightmare Repugs Just threw huge wrench in this ....WHY did the Conservatives DO this ? WHY....it does not help anyone ? mccain ? pres? their own elections? did they even read Dodd's plan? Do any of these people understand Economic issues ? or global consequences....unreal...CNN is covering, MSNBC was covering- not sure if they are still covering...
Obama has a unique opportunity tomorrow night.
He can drive a stake in McW's duplicitous heart.
Lots o rubes in Oxford, Ms.--all geared up to cheer McCain. If he just talks about what happened today, it'll open a few of their eyes. And not just at Ole Miss.
The history of this school calls for a historic speech, but whatever he comes up with should include McCains obstructions today. And his disloyalty to the nation, which is his true creed. That's why all those people are on his bus. They are the enemies of the nation: greedy, self-serving, pashas who are unfit for any service to this country, regardless of what they may have done in the past.
Being a fighter-jock, admirals son and grandson POW doesn't mean you get to be king. That requires some sort of farcical aquatic ceremony.
P.D. @ 3:
I think he will send in Palin to take his place.
Kathleen@8, I wish! That woman is nuts! The more she talks, the more Independants flee. I just want this to be over. I can't take it anymore.
enigma4ever @ 6:
The whole thing was a sham from the beginning. Yes, there is a global credit crisis. NOT an American banking crisis. The Europeans have been saying for months that all we need to do is get together and put a few regulations in place and the global credit crunch will end. This whole impending doom scenario and bail out plan was nothing but smoke and mirrors. The Senate Democrats just called bush on his bullshit.
The house thugs just walked out of their meeting.
What more amunition could they give Obama! Everyone knows they are to blame for most of this mess, and now they're pulling stunts like this. What sorry sacks of shit.
EastLAVato@4
¡Que Tal! Vato.
I think McCain thought he was going to "parachute into" Washington, and take credit for "solving" our financial crisis.
He had not even read the Paulson' plan (a whole 3 pages).
It seems he has made things worse, and is now a "POW" to his own party House Republicans.
Maybe they dislike him enough to ruin his presidency AND our country.
No debate I would assume, McCain is going to get drunk tonight and sleep all day and night tomorrow (I would if I was him).
Peace.
Bit NOLA @ 11:
Are the wee little men throwing temper tantrums again?
P.D. @ 3:
I would like to see that, got a link?
The Rich Get Richer Off of Our Taxpayer-Funded Bailouts and Loans that Increase Our Debt for Generations to Come. But the Chinese are Smarter Than Congress: "China banks told to halt lending to US banks."
Crap ... This is a total disaster. Boehner (sp) walks out and take the rest of the R's with him. McCain really didn't have anything to offer that was substantial, nothing is being worked out.
So here we are, bush paulson and bernacke tried to pull a fast one on the American People, they thought they could pull the same old scare tactics as in 2003 with the march into Iraq. So Congress asks for some accountability to be built into the BO, but it won't fly. Meanwhile, Joe Americans credit card is worthless. This is a cluster-f*ck.
The world is watching, I was just having breakfast when i saw Barney Frank and Chris Dodd outside the Halls of Congress. The crowd i was with are a mixed group of Aussies, Germans, Brits, Israelis and Norwegians, all of whom think this will begin a disaster for the world, not just America. All of us older people who are retired have already lost half of our savings during the last two years, now this will make us all indigent. I wouldn't be surprised if the Thai Government starts to review our financial status to make sure we done become a burden on Thailand. We all had to put up a $20K returnable guarantee to be able to stay here for over 90 days, not to mention many of us are here because we cant afford to live in our own country on our meager retirement funds.
My breakfast feels like a hunk of cement in my stomach right now.
Once upon a time, a politician took campaign contributions and favors from a friendly constituent who happened to run a savings and loan association. The contributions were generous: They came to about $200,000 in today's dollars, and on top of that there were several free vacations for the politician and his family, along with private jet trips and other perks. The politician voted repeatedly against congressional efforts to tighten regulation of S&Ls, and in 1987, when he learned that his constituent's S&L was the target of a federal investigation, he met with regulators in an effort to get them to back off.
washington mutual in-n-out deal
P.D. @ 9:
The time has past for Code Pink or some other group to pull together a coordinated Network moment
I want you to get up out of your chairs and go to your windows and stick your head out of the window and yell
" I'm as mad as hell and I"m not going to take this anymore"
This is one of the greatest moments in a film. We need a moment like this right now
http://www.youtube.com/watch?v=dib2-HBsF08
Link to the WSJ article?
Those who have no qualms about fomenting wars, have no qualms fomenting depressions.
Here is the link to the WSJ article. A must read.
Why isn't the F.B.I. seizing the computers of Wall Street suspects? They do it for petty criminals.
Are they trying to buy time so the incriminating records and emails can be destroyed??
Wall Street is a crime scene.
upchuck @ 10:
Unless I've been misreading a lot of articles, it's actually the Republicans that are throwing Bush under the bus, along with his entire bail-out plan. Last I heard, the Democrats were waiting for Bush to convince the Republicans that the bail-out is a good idea.
Others aren't thrilled with us, and we don't blame them. 'Germany blamed the United States on Thursday for spawning the global financial crisis with a blind drive for higher profits and said it must now accept more market regulation and a loss of its financial superpower status.' 9/26
It is so fitting that the collapse of the Amerika Empire occur while BushCo is in office and the Repukes in DC are running away as fast as they can deny knowing W! The cock is crowing and the disciples of NeoCon Fascism are denying their saints as sinners tonight! The puppet in waiting McSame has a lot of the Financial Bandits on his political team trying to get a bailout. They must fail! By failing McSame will be revealed as what he is an old man willing to sell his soul for the party.
Reuters News has several great articles I've been reading this evening and trying to understand just what the hell is happening regarding all this money turmoil.
The "Hole in the Wall Street Gang" needs to fall. We should not support a bailout for them. Many honest businesses and wealthy Americans will come out on the other side and we can help them but let all the liars and extortionist burn in their own pile of worthless paper. I suggest that we toss W and Cheney on top of the bonfire as a bit of fuel from their fat cat asses.
PEACE by popular demand!
Captain Bitter Angry Kangaroo @ 23:
Thanks, Captain.
This just makes my blood boil that all of this was orchestrated to soften McCain's gaffes last night. It was even disgusting that Bush called for Obama to meet with McPOW today.
It proved to be a waste of time. And like someone said in another thread, this fiasco cost Obama two to three days of preparation while the Republicans flock to perfume McPow's stinking feces.
The real losers are the American people. We have witnessed in living color the breakdown of our way of life, our economic system, our traditions and government these eight years. It has gotten to the point that the GOP has ushered in a stance that disrespects all that we have held dear.
And the Palin creature is just the icing on the cake. That dumb woman has shown internationally that we are truly on a ship of fools if we continue to support the right and its quest to extort the Amerian populace out their money, livelihoods and their since of patriotism. They have bastardized everything that we hold dear in this country.
The only saving grace is California's Senator Barbara Boxer beating McCain over the head for his political stuntl:
Here is what she said in Top of the Ticket:
She just made my day.
Read this comment on another blog. Looks like the trap has been set for Obama and the Dems:
Hopefully I’m just paranoid, but here’s what I imagine is happening. The McCain campaign knows that they are losing. The republicans cannot afford to lose, that is not an option for them, they would be looking at very damaging investigations when Obama wins.
Congress is on the verge of a settlement on the bailout. John McCain enters the scene. Like the good foot soldiers that the republicans are, they decide to follow their leader McCain and scuttle the bailout. Friday morning there will be a new plan put forward by the republicans, the McCain plan. All the republicans, the talk radio shows, Fox, even Bush and Paulson will push it. They will say that this plan shows McCain’s great leadership ability, and try to sell to the American people the idea that the McCain plan will save the economy. Of course the pressure will be on the democrats to vote for it. If they do, it will be a huge boost for the McCain campaign. If they don’t, the democrats will be accused of putting politics before country. Of course for this to work the MSM will have to jump on the McCain bandwagon.
Okay, what do the Dems do about this?
Correction for #29:
1) "sense"
2) "stunt"
Sorry again for the typos. :(
Well, the Bail-Out is dead for now. Is that good or bad? I don't know anymore.
enigma4ever @ 6:
As always I believe the neocon scum are behind it all. Things were chugging along far removed from Paulson`s original Bail Out Plan "A" ( no oversight, remember ) then surprise McCain shows up and throws a monkey wrench into all bipartisan dealings. Bush plays "dumb dumb" and back to square one. Remember if there is no deal soon the Chimp can declare the Emergency Measures Act to save the Nation. And if you will remember again the EMA can be instituted because of an economic crisis which the neocons included when it was signed with such haste after 9/11. Crisis, EMA, no election, and marshall law. Regarding the scum on McCain`s bus, where the fuck is the media on this.
Captain Bitter Angry Kangaroo @ 23:
It's on!
McKeating screwed up the swindle with his thoughtless grandstanding.
I'm stealing this from someone else,but I just keep laughing inside picturing it:
(Bush)..."Have a seat,Obama,McCain" ..."Now,what all this about bale out?"
McCain's campaign is in meltdown mode.
He's trying to play "wack a mole" with all the scandals and is losing. At this point, he should just leave the carnival with Sarah Barracuda and go home.
There are so many scandals popping onto the scene practically moment to moment that it's impossible to keep track of them all.
Now we see his son may be in hot water with Nevada's Silver State Bank going under. Add to this Sarah Palin's idiotic response to Katie Couric regarding her previous comment about Russia being close to Alaska, the National Enquirer coming out with Palin's alleged ex-lover (and her husband's now ex-business partner), the latest video of Palin's wacko witch hunter minister "laying hands" on her, McCain's insane idea to "suspend" his campaign (although the whole world can see it's still continuing!), his refusal to debate Obama tomorrow night etc.
Now this stunt to try to go to WDC to save Bush's bailout plan. It's funny. Things seemed to be moving along until he showed up. Word has it that the White House meeting turned into a giant shouting match this afternoon. According to the news a few moments ago, the Republicans have basically taken their ball and gone home, refusing to negotiate any more with the Democratic Leadership, who is, strange as it seems, trying to support Bush!
The fact is that the entire House of Representatives and a third of the Senate are up for re-election in about 5 weeks and they are about to go home to a shitstorm of angry constituents. It's so bad that at least 15 Republicans are listing "GOP Party" on the ballots in an effort to distance themselves from the "Republican Party" and Bush.
After Dave Letterman caught McCain in a lie yesterday, then went national with it last night, John McCain must be incredibly angry and frustrated. And embarrassed.
If I didn't loathe him so much politically, I'd almost be inclined to pity the guy at this point.
PorridgeGun @ 30:
call it the fucking swindle that it is. it is just more tax cuts for the wealthy. go to huffpo; they have a few article on what mcC*nt tried to do.
Abbybwood @ 36:
after what mcKeatingFive has dome and considering the manner in which he did it, I will never have any pity for him.
McCain Backs Out of Debate
With new polls showing his campaign dead in the water among California Republicans, Arizona Sen. John McCain has pulled out of a long-scheduled debate with Texas Gov. George Bush, set for Thursday in Los Angeles.
LINK
This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.
The plan was drawn up months ago, lying in wait for the right crisis to see it enacted, just as the Patriot Act was prepared well in advance of 9/11.
digg it
V @ 25:
Unless I've been misreading a lot of articles, it's actually the Republicans that are throwing Bush under the bus, along with his entire bail-out plan. Last I heard, the Democrats were waiting for Bush to convince the Republicans that the bail-out is a good idea.
The repugs were preparing to posture when mcKeating shot them all in the foot.
Paulson, however, argued directly against the conservative proposal. "He said that he did not think it would work," according to the source. At another point in the meeting, President Bush chimed in, "If money isn't loosened, this sucker could go down" -- and by sucker he meant economy.
ABC News reported that, following the meeting, Paulson "walked into the room where Democrats were caucusing...at the White House and pleaded with them 'please don't blow this up.'" But this story isn't incomplete, according to sources.
Democrats stayed talking in the Roosevelt room and Paulson approached them. After his comment, Speaker Pelosi and Rep. Barney Frank shot back that the real problem was with House Republicans. Paulson replied, "I know, I know," as he got down on one knee to lighten the mood. Pelosi joked back, "I didn't know you were a Catholic."
Fix it, please?
Harley @ 40:
exactamundo!!!!!!!
PorridgeGun @ 30:
Either that or it's a trap of another kind. The GOP announces a 700billion $ bailout bill. Knowing the GOP will not accept it.
The Dems come up with a similar plan with more oversight(Because the GOP version had none) and take the stage saying it's the GOP that is stone walling this plan. The GOP in turn call the Dems socialists and inflame their base to turn out.
Bush didn't really care if he was attacked for the 1st version. He's outta here.
That leaves the Dems being called socialists.
Now, here's the rub. What if the GOP succeed in stopping the bill? And the market does crash? The GOP are gambling heavy on this one. They have too, they know they've already lost this election. And probably the next 2 or 3 elections as well.
But what if their right? And the economy does rebound without the bill. Huge gains for the GOP. Nevermind that the populace doesn't figure it out. They never have before.
This has Rove's scent to it.
WATCH: Ferguson Knocks McCain For Suspending Democracy
and
MediaWATCH: Campbell Brown To Paulson, Bush: "Seriously, What Were You Thinking?"
why should the dems be in a rush to do anything? bush is gone in 4 months and the repubs are bluffing delay to get the dems to pass something stupid now. the gop wants this bail out more than the dems. the walk out is negotiating theatrics.
CoIntelPro for Pronktastic Victory Over SCLM, DIEBOLD, ESS and SEQUOIA! @ 44:
And when asked what data supported the 700 bil. amount, it was admitted that there was no data supporting this but they wanted to give "confidence" to the markets. They were telling the truth there -- this is a "confidence" scheme if I ever saw one. The Big Con!
mudshark @ 45:
there is already too much money lost for there to be a rebound. the question is whether or not there is a middle class in the country when the smoke clears.
VegasRage @ 58:
I read Thomas Frank's piece in the WSJ and I must say that it is quite damning for a short article. The part I liked best was that he mentioned the ties of Gramm's wife to Enron.
It only shows that this entire business is incestuous. Not one of the members of the GOP can claim that they don't have something at stake in this entire fiasco.
PorridgeGun @ 30:
I think that Barnie Frank will set the record straight (no pun intended). He will not stand for the Republican bullshit. I saw his little press thing while watching Rachel Maddow and quite frankly (pun intended) he threw it right in their faces without looking like he was calling them shitheads.
CoIntelPro for Pronktastic Victory Over SCLM, DIEBOLD, ESS and SEQUOIA! @ 46:
Craig Ferguson hit the nail on the head. Who does McCain think he is? He is subverting the process of democracy so that the GOP remains in power and that our country continues to proceed down the toilet.
V @ 25:
Unless I've been misreading a lot of articles, it's actually the Republicans that are throwing Bush under the bus, along with his entire bail-out plan. Last I heard, the Democrats were waiting for Bush to convince the Republicans that the bail-out is a good idea.
It is almost as if this is a stunt. Providing these Republicans to take a stand against the Bush administration before they go home. could they be that fucked up to put together a stunt like this just before they leave so that as Chris Matthews has said they can take off their Bush uniforms and run home to get the votes they need. The Republicans are running from everything they have done the last eight years.
One of the challenges for Progressives is to use this moment not just to win an election, but to delegitimate, lampoon and bury the conservative ideology that lionizes the rich and legitimizes every policy proposal designed to maximize their wealth.
I think this pair of anti-McCain spots that showed up at HuffPo the other day are the kind of thing we need to see more of. Not just because they're hilarious but because they really hammer home the point that rich people are not like the rest of us.
http://www.youtube.com/watch?v=NrEZdLsS7Eo
http://www.youtube.com/watch?v=iz4Z6L4u8E4
In the 60s they used to say "don't trust anyone over 30." Maybe what we need to be hearing today is, "don't trust anyone who qualifies for the estate tax."
I almost get the feeling that Europe and China pulled the plug on our banking system to stop the chimp from doing something stupid. Maybe he was planning on staging an incident with Iran to help out the McCain campaign. Either way, it is hilarious to watch all these Wall Street crooks squirm and fidget. I can't wait till they all start jumping out of windows. I hope the whole damn financial system comes tumbling down. I don't mind living in a cardboard box under a bridge. I'm sure the UN food relief program will help us out.
CoIntelPro for Pronktastic Victory Over SCLM, DIEBOLD, ESS and SEQUOIA! @ 34:
Great summary in the WSJ. Let's hope there are some more journalists prepping feature stories right now on McShame's past with Keating.
All Obama has to do if he has a town hall Friday night by himself is to go through these points including Keating 5. Bring up the 2000 debate pull out, and chronicle what McShame has said and done this week. He could mention that McShame could have sent his No2, but she probably being prayed over to ward off witchcraft. Game over.
I agree with Max Penny- we need to bury straussian neo conservatism and drive a stake through its heart. On that note, with respect to the proposed "bailout", which is really a stickup, I have an idea.
Don’t Panic!
After 9/11/01, we all panicked. Look what that got us. So just take a chill pill and think.
Here’s a prediction for everyone to chew on: I predict that the reason we have seen these doomsdayers all over the TV is that they are gearing up to make a play for your social security money. Or they are going to lobby to eliminate the capital gains tax, to stimulate the economy, of course. This is just another replay of the shock doctrine in action (Naomi Klein is a goddess).
The thing is, panic is not a very good state to make important decisions in, like, say, handing over a cool 1.3 trillion dollars over to Wall Street. What will we get back for that money? Solvent Banks? That’s it?
I have a better idea. Fuck the banks. Let them fail. Meanwhile, we can take that trillion dollars and create a nationwide chain of publicly owned credit unions, instead. That solves the solvency crisis (for us, anyway.) Seriously, write your congressperson and tell them to shit can the bank bailout and get on board with nationalized credit unions.
The average citzen will be taking quite a tax hit with these multiple bailouts and the Iraqi and Afganistan wars. Why don't we start asking the national leaders that are multimillionaires if they would be ready to sacrifice their yearly salaries like Mayor Bloomberg does in New York City? The same with their very generous health care plans which are funded by the American tax payers.If we were to get it it's Nationalized health care. We would still pay them for expenses and security. Do those that have married rich like McCain and Kerry really need those G.I. benefits? Hasn't Obama made millions off of his books? Does McCain really need to be taking social security payments from such a weakened government? They keep saying the economy will go under if the taxpayer doesn't act. Isn't leadership supposed to be about leading?
Jay Severin Has A Small Pen1s @ 1:
So all [insert terrorist group name] has to do, to convince you not to vote for someone, is to say they support them?
What kind of lame logic is that? Do you generally make up your own mind or let other people make it up for you...
Well, this explains the suspension of his campaign. McCain needs the time to hide all the bodies of evidence.
Google Directive 51. Then put two and two together. Marshal Law time, suspend the election time, Bush is king time thanks to what ... an economic crisis of epic proportions caused by whom? Why GWBush and friends like John McCain. So the republicans won't have to steal this election, they will simply suspend it for the good of the country. Welcome to the New World Order and Big Brother "my friends." And to think, the systematic destruction of our country, our way of life, our democracy began with who again? Why the hero of the neocons, Ronald Reagan. So how is that beacon on the hill thing looking now "my friends?"
I hope I'm wrong, but I can see it happening, can't you? Now that is something for us to genuinely fear ... terrorists within our own government wearing their badges on their lapels ... you know those stars and stripes pins they are all so damn proud of.
Login or Register to post comments.