McCain/Palin suspend campaign

    Due to our economic problems John McCain announced today that he will be suspending his campaign tomorrow morning. Senator McCain will go to Washington tomorrow to meet with leaders of both parties. Not to be out done, Obama came out afterward saying he first went to McCain to do something about he economy but McCain went behind his back and announced he was suspending the | Read More »

    Norquist to Paulson: Just Index Capital Gains to Inflation

    Index capital gains to inflation…brilliant. I mean, hey, why not? At this point, what have you got to loose. Norquist states, that in doing so: This creates a situation whereby an asset held for many years and later sold may generate a capital gains tax liability when much or all of that gain is purely from inflation. For example, a stock purchased in 1990 for | Read More »

    Don’t Support Socialist Bailout

    Isn’t it quite clear that the Dems are trying to get Bush and Congressional Republicans to give them cover for passing this half baked plan? Why should we be their lackys on this? Wouldn’t it be better to propose a reasonable alternative and let the Bush Administration and the Democrats own this turkey? The Bush presidency is essentially over. Why let them write a $700B | Read More »

    Buffett Busts a Move

    I was among the many who took heart when the news crossed the wire last night that Berkshire Hathaway founder and CEO Warren Buffett was investing $5 billion in perpetual preferred Goldman Sachs stock. Many have been wondering where Mr. Buffett has been these last turbulent weeks. One analyst opined that he has been “‘lurking in the shadows’, looking for a deal,” which is perhaps | Read More »

    Buffett endorses the bailout- calls credit crisis an “economic Pearl Harbor”

    Warren Buffett, on cnbc this morning, made clear that he thinks we need the bailout. Billionaire investor Warren Buffett, calling the market turmoil an economic Pearl Harbor,” said Treasury Secretary Henry Paulson’s $700 billion proposal to prop up the U.S. financial system isabsolutely necessary.” The market could not have taken another week” like last week, Buffett told CNBC today, a day after saying his Berkshire | Read More »

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    On the Bailout, Wall Street …

    Just popping in because I’ve been observing this financial crisis closely, and I would like to share a few observation I have made. First, I should ntoe that I am opposed to the bailout on multiple grounds eludicated by many commenters such as William Kristol. Not just simple free-market orthodoxy, but the fact that it is frankly unfair, beneficial to people at the top of | Read More »

    Oppose the bailout

    The biggest item in our budget is not social security or medicare, defense spending or investment into alternative energy sources, but interest on the national debt. This amounts to what should be an imperative and priority for our country to achieve fiscal solvency immediately. A $700,000,000,000.00 bailout by the government is the equivalent of an individual who is in bankruptcy after having maxed out all | Read More »

    Amazing Idea to help solve the financial crisis

    Reknowned economist Brian Wesbury just did an interview on the Dave Ramsey show 9/23 – 8pm Fox Business Network. I have been following every news program and have read volumes of web information on the bailout topic. While I’m no expert, this guy is and he has a tremendous idea to help solve this crisis – temporarily suspend mark to market accouting for the illiquid | Read More »

    Ever have that feeling like you were being scre…robbed? Well guess what?

    Man I can’t even begin to wonder what it’s like to toss around numbers like 700 Billionand 9.6 Trillion. The amount of debt they are about to foist on our kids and grandkids and probably even theirs is unfathomable. Yet I hardly hear a peep out of fiscal conservatives, hell any real conservatives! They are going to throw open your wallet and reward bad businessmen, | Read More »

    700B Bailout

    Don’t bailout Wall street, help main street, let the plan be this, allow Home owners to refi up to 125% of the property at 6% interest rate with a new 50 year mortgage with no cash out , have Fannie & Freddie purchase the mortgages from the banks, this will add capital to the markets, roll the current late payments into the refi, this will | Read More »

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    You Can Markup the Bills on the Mortgage Industry Bail Out

    (Crossposted from the Sunlight Foundation) Congress is moving rapidly to enact a gigantic taxpayer bailout of the financial sector, with a potential cost of $700 billion or more than $2,000 per American citizen. We believe, as Justice Brandeis said, that “Sunlight is the best of disinfectants,” and that all legislation ought to be open to public comment and consideration in real-time, not just after the | Read More »

    Plan B? Plan C?

    I admit to not being a Wall Street guy, but I have always had a pretty good understanding of economics and a practical sense for business. I understand that there is an incredible snowball effect resulting from the fact that there is currently no demand in the market for mortgage-based securities. None. Who wants to buy this stuff today? Only people anticipating a government bailout | Read More »

    Plan B? Plan C?

    I admit to not being a Wall Street guy, but I have always had a pretty good understanding of economics and a practical sense for business. I understand that there is an incredible snowball effect resulting from the fact that there is currently no demand in the market for mortgage-based securities. None. Who wants to buy this stuff today? Only people anticipating a government bailout | Read More »

    What Happens If There’s No Bailout?

    Yesterday morning, the new week started off on a hopeful note in world financial markets, as all eyes turned to the action in the US Congress. Secretary Paulson and Chairman Bernanke had managed to create enough fear among lawmakers to convince them that a large emergency bailout is needed, in order to repair the balance sheets of banks, Wall St. firms, and other financial intermediaries. | Read More »

    Greed Is Good

    “The point is, ladies and gentleman, that greed- for lack of a better word- is good. “Greed is right. “Greed works. “Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. “Greed, in all of its forms- greed for life, for money, for love, knowledge- has marked the upward surge of mankind.” And greed should also cut down, in bloody fashion, those who | Read More »