Emergency? White House admits to planning bailout for MONTHS. (MONTHS!!!!)

by lgcap
Tue Sep 23, 2008 at 09:54:15 AM PDT

"The administration admits they are railroading congress, again. . . "

. . ."[White House Deputy Press Secretary Tony] Fratto said it would be "unthinkable" for Congress not to pass legislation this week, asserting the result would be a "very, very serious situation" for the U.S. economy.

. . . Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough."

They knew for MONTHS!

Paulson Bailout Plan a Historic Swindle

By William Greider

September 19, 2008

"If Wall Street gets away with this, it will represent an historic swindle of the American public--all sugar for the villains, lasting pain and damage for the victims."

Link to full article:

The Middle Class Must Not Be Forced to Bail Out Wall Street Greed

By Senator Bernie Sanders:

"For years, as a member of the House Banking Committee and now as a member of the Senate Budget Committee, I have heard the Bush administration tell us how "robust" our economy was and how strong the "fundamentals" were. That was until a few days ago. Now, we are being told that if Congress does not act immediately and approve the $700 billion Wall Street bailout proposal these "free marketers" have just written up, there will be an unprecedented economic meltdown in the United States and an unraveling of the global economy."

More here:

Socialism for the guys who caused the problem.

Howdy Folks,

First, thank you for all your patience while my family mourned the death of our Mother. My intermittent visits to this blog will now re-commence.
--------------------

Here's some random clips as we see the GOP's vaunted philosophy of "hands off" when it comes to poor people, drowning cities and even war's they start, evaporate-as usual-as they rush in to bail out rich people.

(I'm not so good at this blogging yet so if I didn't credit you correctly, let me know and I'll fix or remove it. If the pictures are yours and you want them down or credit, let me know about that too.)

---------

Opportunities

Yglesias meekly suggests that maybe in the course of spending hundreds of billions of dollars to clean up after the Masters of the Universe, we could spend a nickel or two to help poor people.

I'm not optimistic. I know how Democrats react when GOP Daddies in nice suits sit them down and explain What Needs To Be Done. See FISA bullshit, Iraq war, etc...

------

Feldstein

I hadn't realized Martin Feldstein was on the AIG Board of Directors. It seems he no longer teaches the Harvard intro economics course, which is a shame because it would be an excellent platform to explain his new love of socialism.

----------
"Former Palin colleague says VP candidate is only interested in helping herself, cronies" The Salt Lake Tribune. (That's in deep RED Utah.)

http://www.sltrib.com/ci_10503452

------------------
From Bartcop

McCain Advisor Helped cause Crash
Gramm de-regulated what they now say needs regulating

Link

Excerpt:
As the news broke of the Lehman Brothers meltdown and the rest of the latest financial crisis,
John McCain, speaking at a campaign rally in Florida on Monday, angrily declared, "We will never
put America in this position again. We will clean up Wall Street. This is a failure."
And in a statement, McCain called for greater "transparency and accountability" on Wall Street.

If McCain wants to hold someone accountable for the failure in transparency and accountability
that led to the current calamity, he should turn to his good friend and adviser, Phil Gramm.

As Mother Jones reported in June, eight years ago, Gramm, then a Republican senator chairing
the Senate banking committee, slipped a 262-page bill into a gargantuan, must-pass spending measure.

Gramm's legislation, written with the help of financial industry lobbyists, essentially removed
newfangled financial products called swaps from any regulation.

----------------

Ain't Socialism for the rich and corporations grand? Just ask Mussolini!

Palin (Michael) for President!

How can you resist something like this?

Where I've been.

There was a death in my immediate family. I will return when I can.

Sincerely,

Old Pinko

Now that we're composed, Russert assessed.

When enough time passes after a good person dies, a more thorough discussion of his professional legacy can begin.

How the Russert test failed America

Comment

By Linda Hirshman

June 19, 2008

Link

Excerpt:
"You'll pardon me if I don't jump on the pyre the media is building for Tim Russert, who died of a heart attack June 13. You'd never know it from the keening all over television, but as Dick Cheney's press aide testified during the Scooter Libby trial, Russert's show was the place the Bushies loved the most for "getting their message out." Especially during the homicidal and suicidal Iraq war. And especially for the Vice President, who was architect of the Administration's foreign policy."

Russert was among the Worst
by Gene Lyons

June 25, 2008

Link

Excerpt:
Like Paris Hilton, many D. C. courtierjournalists are famous largely for being famous.