Did McCain really suspend his campaign?

According to everything I am reading, McCain hardly suspended his presidential campaign. His supporters are all over the news, his ads are running, well read on – http://dailykos.com/storyonly/2008/9/25/165152/757/786/610425

Palin: Reducing taxes has to be accompanied by tax reductions

say what? No wonder McCain does not want a VP debate yet!

Sick of It!

I am sick of this BS spewed by Larry Cudlow, Neil Cavuto, Campbell Brown, etc crowd that blame congressional democrats for pushing legislation to help low income families get home loans, etc. They assert that the Freddie and Fannie and congressional dems are responsible for this financial mess.

“At the center of this crisis are Fannie Mae and Freddie Mac. Although they didn’t intend to encourage this spiraling chain reaction, it was leading Democrats in Congress — Senate banking chairman Chris Dodd and his long-time counterpart in the House, Barney Frank — who supported legislation that ultimately led to more and more of these bad loans we are all stuck with” – Campbell Brown.

BS. Ultimately the banks and other financial institutions have the last word (Yes or NO) when they are considering whether to extend credit or not. Poor people would sign anything that is offered to them by a mortgage company if the company’s “expert” assures them that that is something they would be able to afford. Therefore, please don’t give me that bs crap about how it is all poor folks fault.

These were the financial institutions who extended that credit, and it was them too who came up with these ridiculous flawed financial products (mortgage backed securities, sub-prime mortgages and other crap) that now turn out to be worth nothing. What, blame poor crowd? Should we also blame the tech bubble collapse of 2000s on poor people as well?

Have some shame corporate apologists!

McWaffle

This is funny – “McWaffling through the bailout” -

http://2.bp.blogspot.com/_PUoIm_a8734/SNuQdSAH3hI/AAAAAAAAAw0/x3ud7b-hR6k/s1600-h/McCain-the-action-figure.png

source – http://thelonggoodbye.wordpress.com/2008/09/25/mcwaffling-through-the-bailout/

Country at crossroads

America,

We are at the crossroads. We are faced with a tough choice: to adopt free market capitalism as it is with no regulation whatsoever, or to get on the course that resembles social democracy.

If we choose capitalism, we need to let this financial crisis play its course with many financial institutions disappearing from the economic landscape and many peoples’ savings and houses going away. Once the crisis is over, market will probably correct itself at some point. However, we as a country need to be prepared for this major catastrophe to happen again and again because unregulated capitalism will inevitably lead to this at some point simply because of the nature of it; we will need to understand that capitalism is about losses as well as gains. You cannot have a win-win capitalism: have gains and then have more gains when the government is ready to bailout your losses. If we choose predatory capitalism without regulation, we need to be honest and admit that peoples’ livelihoods and savings might be at risk at anytime.

Or we can try our best to try to ensure that nothing like that will happen again by instituting a system where peoples’ interests take precedence over interests of big corporations, its CEOs, and top 1 % of the country. In that case we will need to agree that governmental intervention and necessary regulation would be inevitable and necessary in order to protect its citizens. Even republicans and free market advocates now agree that we cannot let this financial crisis spin out of control. This is remarkable because it appears they recognize that government has an important role to play!

But, America. We cannot have it BOTH ways: we cannot let profits be privatized and at the same time let losses be socialized. We cannot have capitalism when you make money and socialism when you loose money. We cannot let investors and bankers push for unregulated capitalism when they make money and begging for bailouts when they loose money. We cannot let regular folk be faced with the most ugly side of capitalism when they are faced with a foreclosure and be left on their own, and at the same time let big corporations ask for our money to help them out when they are in trouble. This has to stop.

Here America, make your choice.

McCain to suspend campaign

John McCain announced that he will suspend campaign and return to washington to help shape the financial bailout legislation. McCain’s campaign also asked to postpone friday night’s debate citing the financial crisis to be historic.

McCain believes that legislation could be ready by monday. Why the urgency??

It looks like a total political gimmick. A better course of action would be to have the debate on the economy instead of national security, OR send McCain and Obama to washington and have a vice-presidential debate on the economy instead! Bring it on Sarah vs Biden… on the economy..don’t make me laugh..oh well that would have been nice…

I think McCain’s campaign is getting desperate.

source: http://www.cnn.com/2008/POLITICS/09/24/campaign.wrap/index.html

BEWARE OF THE SCAM EMAIL…VOTE NO ON BAILOUT

Source: http://blogs.wsj.com/economics/2008/09/23/spam-du-jour-i-am-ministry-of-the-treasury/

From: Minister of the Treasury Paulson

Subject: REQUEST FOR URGENT CONFIDENTIAL BUSINESS RELATIONSHIP

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America.  My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US.  If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January.  As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s.  This transactin is 100% safe.

This is a matter of great urgency.  We need a blank check.

We need the funds as quickly as possible.  We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction.  After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully
Minister of Treasury Paulson

STOP THIS BAILOUT! CONTACT YOUR CONGRESS REP NOW! GO AND CHECK OUT THIS WEBSITE – http://votenobailout.org/
pass it on to others…

“Congress has no right to give the White House and its Secretary of the Treasury the power to transfer the people’s money to the richest bankers in the country. Vote No to the Bailout legislation. The Bailout legislation is being rammed through Congress in a matter of days. This is an illegal power grab by the White House and their richest friends on Wall Street. The Legislation allows the Treasury Department to appoint the same bankers who created the crisis to administer and dictate the use of trillions of our tax dollars. It is also one of the biggest transfers of wealth from working families to the ultra-rich in the history of the United States.

Congress should help families stay in their homes. Wealthy executives should be forced to disgorge their obscene profits, fees and bonuses that made them ultra-rich while they ran the economy into the ground. “

http://votenobailout.org

On New Oil Drilling

“It is only a truly dysfunctional system that would buy into the perverse logic that the short-term answer to high gasoline prices is drilling for more oil 10 years from now” – Al Gore

enough said

Are Oil Execs really interested in lower gas prices?

read this first – Did oil execs luck into record pay?

then answer my question

those greedy bastards could care less if you pay 4 or 5 a gallon…they would rather see it at 10.
Instead of beefing up their pockets, they should re-invest their money in alternative sources.

“McCain realizes he doesn’t like the estate tax after all”

By: Steve Benen on Thursday, June 12th, 2008 at 10:40 AM – PDT from Crooksandliars.com
“
Remember the good ol’ days? When John McCain used to occasionally say sensible things and break with his party when they embraced ridiculous policy proposals? Good times, good times.

For example, Republicans have been railing against the existence of the estate tax for years. It’s a foolish gambit for the GOP — they want to cut inheritance taxes for the very wealthy, costing the government billions of dollars in revenue, and they characterize this as a key populist goal.

McCain used to see through this nonsense.

“In his 1906 State of the Union Address, President Theodore Roosevelt proposed the creation of a federal inheritance tax . Roosevelt explained: ‘The man of great wealth owes a peculiar obligation to the State because he derives special advantages from the mere existence of government.’ Additionally, in a 1907 speech he said: ‘Most great civilized countries have an income tax and an inheritance tax. In my judgment both should be part of our system of federal taxation.’ He noted, however, that such taxation should ‘be aimed merely at the inheritance or transmission in their entirety of those fortunes swollen beyond all healthy limits.’

“I agree with President Roosevelt, and I remain opposed to full repeal of the estate tax.”

That is, until he became the Republican presidential nominee. Now, McCain finds the estate tax offensive.

“Another of my disagreements with Senator Obama concerns the estate tax, which he proposes to increase to a top rate of 55 percent. The estate tax is one of the most unfair tax laws on the books, and the first step to reform is to keep it predictable and keep it low. After a lifetime building up a business, and paying taxes on every dollar that business earns, that asset should not be subjected to a confiscatory tax.”

Why, it’s almost as if McCain were some kind of flip-flopper or something. Heaven forbid.
“

http://www.crooksandliars.com/2008/06/12/mccain-realizes-he-doesnt-like-the-estate-tax-after-all/