Today in Investor's Business Daily stock analysis and business news
The stock market has gone straight down since the moment the historic bailout was passed. The Libertarians argued that is was not governments business. I have argued that it might not make a difference. ("there is only Capitalism"). Say and plan as they might, is this just going to "work itself out, abet in a very painful manner?
Rich, Hags, Mark?
Tom...well...yes, you and your lovely seem to be correct.
I swear, if McCain was not the worst candidate ever, he could make real hay with this, yet now (now?) he wants to talk about terrorists ties.
Subscribe to:
Post Comments (Atom)
8 comments:
Don't worry the attack on the economic issues is coming. But I really want President Bush to stop with the just sitting there and taking all the blame. It is way past the time already where he should be going out there on a daily basis and giving credit to those who helped to start the mess. He needs to credit all of the Democratic Congressmen who voted to block any legislation to rein in Fannie Mae and Freddie Mac. The facts are out there and now is the time to lay the blame where it really should be residing. The American people deserve to know the truth.
Jim -- There is no solace in this form of being right. But, let me try to help you understand our position a little better. Our opposition to the bailout was not based upon what it would or would not to to the market and the economy. We opposed the bailout because we believed it was the wrong thing to do on principle. Sometimes (perhaps, even, most times), it is better to do what is right than what the experts say will work.
Incidentently, I have just finished printing the entire 451 page bailout bill as it passed Congress. It is incredible to me that the 3-page original version could get mutilated into this monstosity. Once again, our beloved Congressmen and women have allowed their souls to be bought cheaply for special projects, pork, gimmicks and bullshit. We need discipline, not theatrics. Everyone of them should be thrown out of office. EVERYONE!
Thanks, so as you read the bill, would you please share with us the particulars and party?
I'd love to watch Bush try to blame the Democrats for causing this problem while on his watch.
Fannie/Freddie are by no means the primary reason for our troubles - the causes are legion. The right wing has invented a fig leaf to hide their own culpability.
Fannie/Freddie enjoyed wide + deep bipartisan support.
Rich, we have a system of values, you seem to becoming even more thirsty for kool aid. Heavens, this is not a problem with deregulation, it is a problem with lax credit mostly caused by Democrats past and present. How you can possibly blame Bush or most Republican's is beyond any reason.
Jimmy -
You used to chant "All three branches!" in reference to Republican control of Washington. That is why we are in this mess.
Either you guys are culpable in your actions or your inactions. One or the other. Perhaps both.
With power comes RESPONSIBILITY. Time for the good guys to cry, "All three branches!"
Rich,
The most incredible thing about most of your posts is your lack of understanding of how long it takes for certain policies to work themselves through the financial system before their effects are revealed. Anyone who is so naive to actually believe that this mess started when President Bush took office and festered until erupting now in this short a time span could not have taken even the basic college Economics course. Let us not forget that in 2004 the Democrats unanimously blocked any Republican attempts to rein Fannie and Freddie in. You know that you don't have to be in the majority to gum up the works since the Democrats did it for the entire Bush Presidency. Hearing Frank, Dodd and Waters etc. claim that Franklin Raines is great and that Fannie and Freddie are sound and that there is no problem as they block any Republican scrutiny makes all of your finger pointing moot. You need to wake up and smell some of this morning coffee instead of watching Keith Olbermann every day.
Mark:
How convenient. Your boy has been in the WH 8 years and he has had nothing to do with today's economy.
Apparently, you haven't a clue as to the impact of economic policies. I really don't think you do. If you did, you wouldn't spend so much time defending Dubya when he knows better than to even defend himself.
Massive deficits, incredibly poor execution in Iraq, Katrina Relief only an Arabian horse lawyer could offer and now a financial collapse. Do you see a pattern?
By your logic, I guess we'll give Carter credit for the economic expansion of the 1980's. After all, it takes so much time for policies to take effect, no?
(In fact, Carter did contribute to our success in the '80's. He deregulated oil prices, transportation and hired Paul Volker to run the Fed and kill inflation).
Always happy to help with the wake up call!
Post a Comment