Meanwhile, John McCain is proven to be a senator, war hero, and American patriot who puts his own interests aside and does what he feels is in the best interests of his state and country.

Much of what you say is true, but McCain’s campaign is doing him a great disservice. He’s addressing the nation today with his plan to ‘rescue’ the bailout legislation, but nearly every point that he’s raising has already been addressed in negotiations. Several days ago, it would have been sensible for him to talk about how additional oversight is necessary- but that’s no longer considered an outstanding issue. McCain sounds either out of touch or badly trying to play a political game that as a maverick, he should be trying to avoid.

However, it sounds like it’s going over like a fart in church. Especially with the “Obama First” crowd who doesn’t give a flying rat’s backside about the country or the economy until Jan 1.

McCain is at least trying to be Presidential (not act) before Day 1.

well 15 pages is enough for one night. I’m out.

unseen on September 25, 2008 at 12:50 AM

The root cause of this problem is the sheer number of godless atheists who have no morals because they believe in evolution.

I mean, the problem is all the religious wingnuts rejecting real science for the pseudoscience of creationism, from those Bibles they are bitterly clinging to.

That oughta get us up to 30 pages…

More seriously, the problem is very real, but not insurmountable. Here’s a crisis both parties had a hand in, but Bush and the Republicans did at least try to fix 3 years ago. Once again, Bush is doing something absolutely necessary that he will get absolutely no credit for, because he will be blamed for the problem in the first place.

Kinda makes you wonder why both McCain and Obama actually want the job…

oh I see. I disagree that is what the bailout is for. I don’t think the bailout is for the power brokers. I think it is for the avg joe. True it may help some on wall street but without it I think every americian is going to much worse off.

unseen on September 25, 2008 at 12:32 AM

No. Status quo means those who have been the power brokers behind the scenes. These are the people the bailout is trying to protect. The economy doesn’t depend on a certain company. It depends on sound business practice. And as we have seen, this issue is largely one of confidence. If we infuse the economy with 700 billion to the same scumbags who put us in this mess, or watch them fail and let the free market replace them with more responsible leadership, the problem is on it’s way to being solved.

I see the choices this way.

a) We shore up the same people with the same philosophies.

b) We allow the market to act as it was designed.

You continually look at this from the point of view that protects the status quo.

What will happen is that fiscally responsible companies will absorb them at firesale prices and then turn a profit.

csdeven on September 25, 2008 at 12:16 AM

If by status quo you mean keeping the USa the world’s strongest biggest economy yes I do. the USA economy is run on credit. Credit to produce inventory and pay when retailers pay them, credit for retailers to buy inventory and pay their supplies when their customers pay them, credit for the consumers to pay the retailers and pay lthe credit card companies later when the people they work for (the supplies at the beginning of this chain) pay them. the supplies can not pay their people without credit to fund day to day operations. That is the credit cycle. From the shop floor making the widget to the consumer buying the widget. what we are talking about is that NONE of that chain is able to get credit. and if they are they will have to pay very high rates which will drive up costs of the final product which will cause a credit lead recssion to go along with the energy lead recssion, and the food lead recession.

these fically responsible companies you speak of will need credit to buy those other companies, they will need to use stock, or savings (which is tied up in MBS, other investments etc) Not many comapnies keep cash on their books. So if the credit markets are not there these companies can not buy other companies. Unless they use stock which is depressed right now and would require a maasive amount of shareholder dilution which is not a good thing. Face facts without credit we have no economy.

and what of these companies if they can’t get credit to meet payroll? what happens when consumers can’t charge that $300 iphone? Do people really not understand how our economy works?

unseen on September 25, 2008 at 12:04 AM

You continually look at this from the point of view that protects the status quo.

What will happen is that fiscally responsible companies will absorb them at firesale prices and then turn a profit.

Bishop on September 24, 2008 at 11:48 PM

Actually I was referring to “My boy lollipop”. But your point is valid just the same.

csdeven on September 24, 2008 at 11:46 PM

yes. wall Street’s basic function is to raise capital for businesses to invest. the fact that IPO’s have not been coming online shows it is broken. Another function is to return some company profit to shareholders. The dividend has been no defense for stock price during this time so investors are saying they don’t care about divs and that the divs are not safe. So for two major functions Wall Street no longer works. So Wall Street can not do its job because of the credit problem until it is fixed Wall Street will be a broken system where people use it like a casino.

dmann on September 24, 2008 at 11:34 PM

Are you nuts? Ba stock is down 50% apple’s stock is down $100. sears is off almost $200, Macy’s is on watch for failure. smith and Wesson have you checked out their stock? Can you say nosedive? blockbuster? please there are on death’s door. there stock is down to $2.31. All these companies are close to failure. Have you not been watching the market? and what of these companies if they can’t get credit to meet payroll? what happens when consumers can’t charge that $300 iphone? Do people really not understand how our economy works?

God help us if Obambo ever has mitigated gall; I’ve seen others have it and boy howdy, it ain’t pretty.

JellyToast on September 24, 2008 at 11:08 PM

I disagree. The average guy on the street, according to the polls, is VERY concerned about what is happening. Ergo, I believe they will respect McCain’s decision to put country first.

unseen on September 24, 2008 at 11:14 PM

Do you think the basic function of wall street is broken? IE: shorting etc?