How Can We Really Stop Another Great Depression?
The Dow has closed about 350 points as I write this, and if the 777 point drop on Monday is “blamed” on the House rejecting the Pelosi Bailout Bill, then we have to blame this drop on the Senate passing their version of a Bailout last night. Fair is fair. When you factor in the Dow gain on Tuesday, the two net drops are close | Read More »
, Barack Obama
, credit markets
, Financial Crisis
, great depression
, House of Representatives
, John McCain
, Wall Street
Just came across a new site that takes homemade commercials and puts them on TV. They appear to use ad revenue to buy ad time. Some great conservative messages. Issue specific, no candidate stuff.http://www.clicktobroadcast.tv/videos/62http://www.clicktobroadcast.tv/videos/66
Michelle Malkin Is Dead Wrong on “Tax Pork” in the Bailout
I was shocked to read this morning that [Michelle Malkin] (http://michellemalkin.com/2008/10/01/mccain-will-support-earmark-stuffed-senate-crap-sandwich/), in her totally legitimate opposition to the bailout, equated tax cuts with spending increases. The New York Post did the same thing on their [cover] (http://www.nypost.com/seven/10022008/frontback.htm). Scarborough was positively livid this morning on Morning Joe. What the hell is going on here?In an effort to get the bailout through, the Senate appended to it | Read More »
A Question To Redstaters
Hello, I am not a constitutional attorney but I’m confused about the bailout package passed yesterday in the Senate. I did not think this type of bill could originate in the senate. Article 1, Section 7 of the Constitution reads:
A Bitter But Necessary Pill
A great many free market conservatives are disillusioned with the Senate’s vote last night on the financial recovery plan. Their reaction is understandable. The choice last night was between doing something and doing nothing. Many of you may believe we made the wrong decision, but you should understand the factors we considered before the vote.First of all, the mortgage mess is especially infuriating because some | Read More »
Dear State Legislature, Please Hold Congress Accountable
Dear Representative, Like many Pennsylvanians, ten days ago I became aware that a crisis in the United States financial system threatened to send our country into a full scale depression unless a $700 billion bailout bill was enacted quickly. Subsequent news revealed that certain Members of Congress had been warned of the impending disaster years earlier, but either denied the existence of a problem or | Read More »
Let’s cut the B.S. on the bailout. The proposed government bailout is based on two government promises of maybe:1) The taxpayer might recover some of the 700 billion someday;2) Once banks bad debt is purchased with taxpayer money, the banks might loan some of it back to the people who paid the banks’ debt in the first place.Read the complete article, Bailout Explained, at Liberty | Read More »
Bill Clinton tells Obama to Sit Down and Shut Up, Again
The stars moon and sun must be aligned because I actually agree with Bill Clinton on something (via WSJ ); A running cliché of the political left and the press corps these days is that our current financial problems all flow from Congress’s 1999 decision to repeal the Glass-Steagall Act of 1933 that separated commercial and investment banking. Barack Obama has been selling this line | Read More »
Last night, the Senate approved the revised bill that implements the proposed plan to bailout (read ‘rescue’) the financial markets after an already long week and painfully drawn out past couple of weeks. Now, the bill will move on to the House for more political butchering of policy that is already late and less than top-notch quality.
The Other Bailout
A bounce in the markets yesterday was not unexpected after the day we had Tuesday, but many people were surprised to see the Dow jump 400 points. Many people chalked this up to the idea that the markets were already recovering from the plunge after the bailout was rejected, but this is because the majority of people didn’t realize fundamentally why the increases happened.
Operation Hold The Line
Since ALL of our leaders here at RedState have officially gone over the deep end ((yet another promoted Pro-Bailout dairy, while those anti-Bailout dairies are not… the fix is in at RedState)), we need to look for leadership elsewhere.No, not me. I don’t want the job even if you paid me. I’m talking about Michelle Malkin. She has more balls than all the RedState Directors | Read More »
The choice we faced was between pursuing an informed response, or panic. I think we chose panic.”
See the full article here.The money quote: He blamed his colleagues for rushing to another unexamined policy decision that could lead to further unintended consequences. Emphasis mine “To the extent other options exist, however, I believe we failed the American people by not examining them. And we are doing something in haste,” he said. “Many around here find comfort in the notion that something is | Read More »
My letter to my Congressman: Be a Maverick!
Just sent this in via www.house.gov, which is very slow tonite. Dr. Weldon voted for the bill Monday, saying it was a poor bill but he felt pressured to do something. Please vote no on this bailout. I agree with you that it is a poor bill. But “doing something to just do something” is no reason to support it. As a doctor, you know | Read More »
McCain Strikes Out Looking
I hate to be such a downer, but let me announce this now: the election is officially over and Obama, who has never even been a contributing member of the economy, has won. I don’t like it, but McCain just lost his last chance to break away from Obama. One difference between the two is supposed to be that McCain is going to clean up | Read More »