pcND:

Dorgan is starting to make Conrad look even more stupid which didn’t seem possible.

Fixed your post for you.

Robert108, Yikes! Did Paulsen sell the President out? In hopes of a job with Obama? OR because he is a Investment Banker, did he just see everything through that perspective? You are so right about the Stock Markets, they will not recover until we turn away from all this foolishness!

So I guess all of us that were against the bailout are still wrong?

Leverage allowed by the FED and pushed by paulson with full republican support has caused the beginning to the end of the empire.

An outright lie; the blizzard of bad paper was produced by the Dem affirmative action home loan mandates, started by Carter and increased by Clinton. We finally got the bill for the wasteful Dem social engineering. The timing of this event was calculated for maximum effect to defeat Republicans in this election.
What’s bad for America is good for the Dems.

SC
Others don’t know that obama sued to get the undeserving the extravagant loans.
http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

What ticks me off is that nothing is said about how we got into this mess. Most do not about former President Clinton’s Pilot Program (social engineering) to get millions of poor people into housing and by doing so had to lower the standards/regulations in this subprime market. Twenty four banks, along with fannie mae, participated. It was a bad plan, bad results, and bad for the 401k.

Gaylord Conrad and Little Lord Pomeroy were wrong?

Don’t forget Jimmy Carter’s Community Reinvestment Act which forced banks to give mortgages to slackers!

Really, I wish I knew more about the options available to Paulsen, Bernanke and the FDIC chick (Bair) when all this started. Surely there were better ways to ensure that the banking process didn’t freeze up than this? Why were investment houses, with the exception of Lehman Bros, Not Allowed to Sink? Just because Paulsen is a Wall Streeter? To save the investment of the Saudis and the Chi-Commies? What a Stinky deal! Wouldn’t the much larger commercial Bank Sector have kept Credit and Money flowing regardless? It is sickening to see these large Publicly Traded companies maneuvering for their share of the pie. Can you believe that President Bush is Slammed as a Conservative? A conservative solution would have been to allow the Market to Cleanse the System severely but quickly. I am afraid this is going to drag out for a long, long time…

My hubby, who is definately not a conspiracy theorist was watching tv w/ me when the whole deal 1st went down. After Bush spoke he turned to me and said, ” They planned that well.” I said who? The liberals? The stock market? The white house? He said, “Whoever wanted this to come to a head right now manipulated the situation.It was a powder keg and someone puposefully lit a match to it so it would blow up now.” I was highly doubtful, but now, it makes a lot of sense. I think Bush was used as a pawn. He trusted Paulson and Bernanke, and I think they lied to him the whole time.

Arrest all involved and through them in Debtors prison until they pay off the bailout. It worked in the middle ages.? Maybe not.

I still think that they should have ixney’d the capital gains tax, and cut the corporate tax rate in half. Then put a moritorium on forclosures to the end of the year and let the lenders sort it out.

Always use incentives to get what you want.

Jimma Caaata, is to blame for every modern age problem that we have.

The mortgage crisis tied to the Community Reinvestment Act.

The War on terror tied to the Carter administrations dumping of the Shah of Iran and failure to go after our people held hostage in Iran.

The energy crisis then and now to the lack of drilling for oil and his listening to the environmentalists. This lead us to the problems that we have with oil, nuclear, and coal.

The Obama election can be tied to him in some way, I am sure, but I can’t think of it right now.

ZZ: Credit didn’t “freeze up”, only the big banks that got caught up in the Dem social engineering mandates did. Small banks that continued to follow sound lending practices were, and are, doing just fine. This “crisis” was overhyped and wrongly blamed on President Bush(like they blame him for everything) so that Obama could win the election, and to facilitate the nationalization of our financial and other markets. Now, they want to nationalize our auto industry, and are eyeing the credit card companies. They also want to own peoples’ homes. This is how FDR used the Crash of ’29 to introduce his commie New Deal, and the lefties are just doing the same thing now. In the same way that FDR turned a bad recession into the Great Depression, Obamunism is trying to turn a slight downturn into another socialist takeover of our economy. Look at how the market has done since the bailout and Obama’s victory.

Anyone notice the Stock Market hit the crapper since the Dems took over the House and Senate the left blames Bush.

If this continues and I think it will, then we are seeing the beginning of The Obama Depression. He is taking ownership of this economic crisis and he will make it worse, with as Newsweek predicts, four years to climb out of the crapper.

Anyone facing Capital Gains should get out now or lose a bunch of money!

American Express (AXP) — a credit card company which, last I checked had little or no exposure to mortgages — is now a bank, for the sole purpose of tapping some of that free money. The thinking seems to be, “Big pile-o-cash? Gots to gets me some of that!”

Like hyenas trying to steal the kill from a lion, the mere scent of this enormous pile of loot starts attracts the scavengers. They cannot help themselves, for it is their essence, and who they are.

Just as the dreaded 17 year locust devours all before it, so Lobbyists too, are swarming the capital. Never before has a trillion dollars been authorized so quickly. Never before has so much money been spent with so little oversight, controls, or transparency.

http://www.ritholtz.com/blog/2008/11/why-bailouts-attract-handout-seekers/