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Counterstrike: Mark Levin goes nuclear on O’Reilly over bailout rant

posted at 8:56 pm on September 25, 2008 by Allahpundit
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It’s a special man indeed who can make both O’R’s and Olbermann’s enemies lists. Courtesy of Levin’s producer, a modest response to this morning’s sneak attack reducing Bill to a bold fresh piece of humanity:


Blowback

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GO BEAVERS!

ClassicCon on September 25, 2008 at 10:22 PM

Ideologues bore me. And he’s right to call both sides on the carpet on this one.

That’s complete bull, with all due respect.

You can’t prevent a repetition unless you identify the cause. O’Reilly is wrong about it’s origins and about avoiding it. McCain intro’d a bill in 05, Bush’s reforms didn’t get through either. O’Reilly is wrong, his ego is talking. He should be embarrassed.

Levin gave him what he deserved.

Spirit of 1776 on September 25, 2008 at 10:23 PM

Two nuclear meltdowns in one day. Awesome

Baphomet on September 25, 2008 at 10:25 PM

When gas prices went up he blamed the speculators. When they were down to 93 bucks he said “the speculators are gone now HA!” Then this past week when they went back up he said “Those damn speculators are back!”

He is such a douche, Limbaugh has lived his life by those principles and could lose millions if he is wrong. But he sticks to his principles and for Oreilly to say he is a blowhard and doesnt care about the folks just exposes Oreilly for who he is.

People here dont understand that its not just a bailout. This will give the democrats another bureacracy in which to set new socialist policy to control more of your life. They have already tried to slip in the bill that profits should go to the “poor” at the discretion of congress. And what about the Bankruptcy rules allowing judges to lower rates and make terms better for people? What bank in their right mind will ever lend money in that market? Where they take the risk and the court could diminish their return?

This bailout sucks and Im against it.

broker1 on September 25, 2008 at 10:25 PM

what he said….

CC

CapedConservative on September 25, 2008 at 10:27 PM

Mark says it like he sees ‘em. Bill O’R sends me right over the brink. I could go on about his rude behavior and his ridiculous interviews. I wanted to jump through the TV and get in his face during the softball interview with BO. Here’s a guy who has been dodging and weaving for months on his real self and Bill wants to play some ball with him. What a joke!

Bill doesn’t get that the CRA is the root of the financial mess. He doesn’t get that many people don’t think it’s fair for less qualified people to get a better mortgage deals than they get when they do work and qualify. Bill wouldn’t think to point out that John McCain and other Republicans proposed legislation to minimize the Freddie/Fannie problem. Bill doesn’t really care about the people who will pay for this $700B (and growing) bailout. No Bill O just wants us to roll over so that he can continue to hobnob with some of the people who have benefited from the banking bubble. Last time I checked Bill had a law degree not a degree in economics so as far as I’m concerned his opinion is meaningless.

SayWhat on September 25, 2008 at 10:31 PM

O’Reilly is an unbelievably phony putz. His only redeeming value is that Olbermann hates him. One more month until the bull shit “War on Christmas” spiels.

Hilts on September 25, 2008 at 10:31 PM

Hey BillO, maybe you should stick to complaining about internet porn.

GO BEAVERS!
ClassicCon on September 25, 2008 at 10:22 PM

Wooooooooooooo!

innominatus on September 25, 2008 at 10:35 PM

Ropera on September 25, 2008 at 9:53 PM

I was born and raised in a populist third world country and I prefer 1000 times more to live in a free-market society, under a bridge, but FREE.

Thank you Ropera for reminding all of us what is really at stake here. I’ve never lived through a depression and if it were to occur we would all suffer greatly, but our country would survive. Maybe this is our chance and obligation to fight for our country and the principles of freedom. And not cave to socialism because the cost is too high. Time to pay our dues.

blue sky on September 25, 2008 at 10:36 PM

When he says “backbencher”, I know he was referring to Laura Ingraham. Due to work I don’t get a chance to ever listen to Levin live, but I catch him on Olbermann Watch from time to time, and he often talks about a “backbencher who dated him [Olbermann]“, meaning Ingraham (and there’s been other hints it’s her, too).

Anyways, does anyone know the back story on the bad blood between Ingraham and Levin– or, at least, why he calls her a “backbencher”?

Pasalubong on September 25, 2008 at 10:37 PM

That is the amount of money to BUY THE ASSETS THAT ARE SECURED WITH REAL ESTATE, FOOL.

Best not to type when you are talking out of your ass.

Roger Waters on September 25, 2008 at 9:18 PM

Apparently it doesn’t stop you! Unless the Federal Government is going to turn that real estate into postal offices, military bases, or administrative buildings, it’s UNCONSTITUTIONAL. And you call us fools…

dominigan on September 25, 2008 at 10:38 PM

Mark knows the Government caused the mess but he doesn’t seem to think they have a responsibility to clean up their mess. I have an open mind and can be persuaded either way at this point but I looked into the abyss last Thursday and I know what’s coming if something isn’t done.

I cannot believe that I am about to speak FOR Mark Levin here but I am gonna. He does believe that the government is responsible for the problem. To have the responsibility to clean it up? That means that you think they are capable of cleaning it up. The government doesn’t have the leadership, capacity, intelligence, integrity, or anything else required to clean this mess up! Let me ask you this. Would you hire any one of the CEO’s of any of the banks that have gone broke to run your 401k? How about any one of the CEO’s of any of the mortgage companies that went belly up to sell you a house? What are you people thinking? You can’t trust these people that caused this stuff to walk your dog, let alone to fix the thing! Cripes – even Sen. Gramnesty is sounding like a true conservative tonight!
GOD BLESS US!…. THANK ME!!!! and thanks to you Mark. And if you aren’t listening to Mark, WHAT’S WRONG WITH YOU?
Not to mention that my wife says he has the sexiest voice on radio………

JeffinOrlando on September 25, 2008 at 10:41 PM

Anyways, does anyone know the back story on the bad blood between Ingraham and Levin– or, at least, why he calls her a “backbencher”?

Pasalubong on September 25, 2008 at 10:37 PM

I think he was probably referring to Weiner Nation.

Buddahpundit on September 25, 2008 at 10:48 PM

this back and forth screaming and name-calling on talk right-wing populist radio is as grating on the ears as it is effing pointless. POINTLESS.

A pox on all their houses.

Mike D. on September 25, 2008 at 10:48 PM

Bill is a spineless, phone sex talkin, Lefty.

I would have punched Geraldo for treat Michele the way he did.

His someone w/ the initials MM should take his spot.

TheSitRep on September 25, 2008 at 10:50 PM

“Your a mighty arogant prick making such assumptions whilst uh, asking for a bit of slack! Maybe you need your fat pyschopathic wife to trash you within inches of your life!

dmann on September 25, 2008 at 9:31 PM”

Well done. :)

However, on the substance, to all you knottheads who dont get it. There already is an unconstitutional agency ruining stuff…FreddyMac/FannieMay. So, we are screwed. This is an opportunity to take this crap off of banks balance sheets since they were relying on the quasi guarantee of fannie and freddy.

If they just go under, banks stop lending money, companies can no longer borrow, people are laid off and we have a BIG ASS HARD RECESSION!

Now, I dont know how many of you uppity know-it-all purists are raising families…probably not many of you based on your living-in-your-mom’s-basement mentalities….but that F’s EVERYBODY.

So, let the REPUBLICAN PRESIDENT and the REPUBLICAN SENATORS and the REPUBLICAN GREENSPAN and the REPUBLICAN business giants (Jack Welch, etc) try to help you IGNORANT JACKASSES what the consequences will be to middle class REPUBLICANS and lower middle class no-life REPUBLICANS such as the douche bags like ClasicCon and you other fools who dont understand macro economics.

Let me guess, all you fools voted for Huckabee…right? I thought so.

Its these foolish REPUBLICAN CONGRESSMAN IN THE HOUSE OF REPS not the smarter REPUBLICAN SENATORS THAT ARE EFFING THIS SH!T UP. And you know what these REPUBLICAN CONGRESSPEOPLE ARE AS SMART AS???? They are as smart as Sarah Palin. Now, if that doesnt scare the sh!t out of you, you deserve to lose your job.

Roger Waters on September 25, 2008 at 10:52 PM

Oh by the way, dmann, its THRASH you within inches of your life not TRASH you within inches of your life. :)

Roger Waters on September 25, 2008 at 10:53 PM

Roger Waters on September 25, 2008 at 10:52 PM

Waiting for you to give some specifics and maybe teach some of us “fools” some macroeconomics. Also wating for you to answer my questions about how super awesome this deal is.

Instead you just talk in vague generalities like the nervous little spaz you are. You are giving us zero information because you don’t what the fuuk you are talking about. You are just panicking like a little scared child.

ClassicCon on September 25, 2008 at 11:03 PM

Roger Waters on September 25, 2008 at 10:52 PM

Um, excuse me waiter, but I’ll have the fudge sundae – with cracked Paulnuts, please.

ManlyRash on September 25, 2008 at 11:04 PM

You can’t make me mad at you, ManlyRash. I like you too much. – RushBaby on September 25, 2008 at 10:16 PM

*channeling Mark Levin*

Thank me.

ManlyRash on September 25, 2008 at 11:07 PM

Sorry, but let’s be sensible here. Levin sounds like a fool here. Anytime you start out a rant by going on a silly diatribe about how O’Reilly has a “fledging” radio show (the ratings prove that comment to be absurd), you sound like a whiny child, not a grown adult man.

According to Talkers Magazine, O’Reilly is rated near 9 in the country, Levin around 6. Levin has around 2 million more listeners on avg. He’s clearly not fledging as he’s beating Hugh Hewitt, Mancow, Alan Colmes, Rusty Humphries, Bill Handel, Dennis Prager, Michael Reagan, Ed Schultz, Bill Bennett, Jim Rome, Dennis Miller, G Gordon Liddy, and on and on.

Whether he’s right or wrong, he comes off sounding like a total clown. By the way- I thought we wanted to leave the constant name calling to the liberals and rise above this nonsense??

TheBlueSite on September 25, 2008 at 11:11 PM

“Waiting for you to give some specifics and maybe teach some of us “fools” some macroeconomics. Also wating for you to answer my questions about how super awesome this deal is.

Instead you just talk in vague generalities like the nervous little spaz you are. You are giving us zero information because you don’t what the fuuk you are talking about. You are just panicking like a little scared child.

ClassicCon o”

Sooooo, you want me to tell you exactly how much the government will be able to auction these real estate assets that they are buying for $700billion for??

You must be stupid. It will be between $100B and $900B. How does that grab you? Ever seen an auction? Did you KNOW the selling price BEFORE the auction….you genius you.

What an asshead.

Roger Waters on September 25, 2008 at 11:12 PM

Levin has it exactly right – O’Reilly is a complete buffoon. Ted Baxter – perfect.

Also loved the “non-Factor” epithet. Hey, we have one of those!

Jaibones on September 25, 2008 at 11:13 PM

Roger Waters on September 25, 2008 at 10:52 PM

so much ignorance, so little intelligence. Is that all you got, Waters? Insults in ALL CAPS ? Lame Demo talking points? That’s it?

Why do all you trolls sound the same? Why do you all start and finish with remarkable similar anti-conservative, anti- Republican half-assed smears?

Go to HuffPo: they’re your kind of people; here, you’re an embarrassing jerk trolling for abuse

Janos Hunyadi on September 25, 2008 at 11:16 PM

After hearing that, I won’t ever listen to Levin again. In fact, listening to that was downright creepy. He sounded like the raving loon he claims O’Reilly is.

Anyone who says moron 15 times in 5 mins is a child. Good lord he sounds like a 2 yr old.

Then you have the fact that there was absolutely no credible evidence that O’Reilly did anything wrong in regards to Macklin. The evidence we know suggests she was out for a mega payday…she left Fox News on her own accord. She then bragged about how great it was and EMailed her old Fox News colleagues telling them how much she missed her old job and all of them. She then RETURNED to work for O’Reilly, a man she claims harassed her. Nonsense. Let’s not be zombies…look at the facts on EVERYBODY, not just the guys you think you dislike.

TheBlueSite on September 25, 2008 at 11:18 PM

Roger Waters on September 25, 2008 at 10:52 PM

You’re unhinged. And stop yelling.

fossten on September 25, 2008 at 11:22 PM

You must be stupid. It will be between $100B and $900B. How does that grab you? Ever seen an auction? Did you KNOW the selling price BEFORE the auction….you genius you.

What an asshead.

Roger Waters on September 25, 2008 at 11:12 PM

Exactly as I thought. You have no clue, you read the same Kessler article all the pundits are referencing today and beyond that you can’t tell me anything.

I bet when there is a fire in building you are the little spaz knocking over the kids to get out the door first. This will drag on and cooler heads will prevail.

ClassicCon on September 25, 2008 at 11:23 PM

Oh and Roger Waters, how about giving that SHIFT key a rest poindexter.

F’n kook.

ClassicCon on September 25, 2008 at 11:25 PM

Uh, actually, anybody who pretends to know how much you can auction these assets for in the future is taking you as a fool (not hard) since nobody can predict the future. That was the point….which you missed entirely.

I got news for you. If the republican reps screw the pooch on this thing and if Greenspan and all the people who, unlike you, know their asses from their heads are correct….you can kiss any chance of conservatives or republicans having any power in washington for a long long time.

Roger Waters on September 25, 2008 at 11:26 PM

“so much ignorance, so little intelligence. Is that all you got, Waters? Insults in ALL CAPS ? Lame Demo talking points? That’s it?

Why do all you trolls sound the same? Why do you all start and finish with remarkable similar anti-conservative, anti- Republican half-assed smears?

Go to HuffPo: they’re your kind of people; here, you’re an embarrassing jerk trolling for abuse

Janos Hunyadi ”

Thank you so much for that substantive, detailed post Ms. Anus Hyundai.

Roger Waters on September 25, 2008 at 11:29 PM

Uh, actually, anybody who pretends to know how much you can auction these assets for in the future is taking you as a fool (not hard) since nobody can predict the future. That was the point….which you missed entirely.

Sorry idiot, you are the one that missed the point and you just made mine again. You yell at everyone saying how we are going to make money on this bailout, I call you on that assertion on your part, and then you come back “since nobody can predict”…

Exactly.

You have just been schooled and shown to know very little beyond surface level knowledge.

ClassicCon on September 25, 2008 at 11:31 PM

According to Talkers Magazine, O’Reilly is rated near 9 in the country, Levin around 6. Levin has around 2 million more listeners on avg

Link, please.

ManlyRash on September 25, 2008 at 11:32 PM

“Sorry idiot, you are the one that missed the point and you just made mine again. You yell at everyone saying how we are going to make money on this bailout, I call you on that assertion on your part, and then you come back “since nobody can predict”…

Exactly.

You have just been schooled and shown to know very little beyond surface level knowledge.

ClassicC”

In all seriousness, not trying to be aggressive with you, but the problem is that you cant grasp medium-difficult concepts. I can picture you watching TV and then when somebody like Alan Greenspan is on, you get this blank look on your face.

In other words, yes, I would like fries with that.

Roger Waters on September 25, 2008 at 11:38 PM

TheBlueSite on September 25, 2008 at 11:34 PM

Read it again. More carefully. Levin is ranked #5 behind Limbaugh, with a 5.50 market sare. O’Reilly is ranked #9 behind Limbaugh with a 3.50 market share.

Farking moron.

ManlyRash on September 25, 2008 at 11:39 PM

I stopped watching OReilly when he picked Spitter over Michelle Malkin. Any other time he would get on someone who is wrong but he softballed Geraldo on most inappropriate behavior.
OReilly is so self absorbed. He is a pompus butt, especially when he says candidates (like PAlin) are only authenticated if they come on his show. Enough to make you hurl.

wepeople on September 25, 2008 at 11:39 PM

The other thing to understand is that the dems are likely hoping that the economy does tank between now and mid November. duh. Why would they want to save the economy and hurt their chance for the whitehouse.

Of course, we have these brilliant republican house members who are playing right in their hands like the fools they are.

Roger Waters on September 25, 2008 at 11:43 PM

Bill calls Obama a Mod. centrist and all of us consevatives right wing haters.Its about time someone smacked him down.He has turned into a real clown with a show on fox and the only thing he has going for himself is msnbc keeps bathtub boy on the air.

thmcbb on September 25, 2008 at 11:47 PM

ManlyRash on September 25, 2008

That’s what I said to begin with. Levin is around 6 (5), OR is around 9. 2 million more listeners weekly. Both of them have poor ratings compared to Rush and Hannity. But everyone is way below those two.

The point was- it sounds silly to say he has no ratings when he trounces so many well known names daily. And who really knows who Mark Levin is outside of conservative news junkies? Nobody, that’s who. On the other hand, with OR, you’d be hard pressed to find many people who don’t know who he is.

In the end, it’s just childish to start a rant off by making bogus rating claims and using the word “moron” every other word. Adults shouldn’t act like that.

TheBlueSite on September 25, 2008 at 11:52 PM

Roger Waters on September 25, 2008 at 11:43 PM

Paulnut.

ManlyRash on September 25, 2008 at 11:53 PM

ManlyRash on September 25, 2008 at 11:53 PM”

Cownut.

*sniff* yuck, its that womanlyrush troll breath again

Roger Waters on September 25, 2008 at 11:55 PM

I stopped watching OReilly when he picked Spitter over Michelle Malkin. Any other time he would get on someone who is wrong but he softballed Geraldo on most inappropriate behavior.

LIke the time he had a shouting match with spitter over illegal immigrants??

Moron.

wise_man on September 25, 2008 at 11:59 PM

Roger Waters on September 25, 2008 at 10:53 PM

You just don’t learn do you? Making assumptions once again, TRASH is exactly the right word ;-)

dmann on September 26, 2008 at 12:04 AM

Thank you so much for that substantive, detailed post Ms. Anus Hyundai.

Roger Waters on September 25, 2008 at 11:29 PM

the troll proves my point by being….herself

It says essentially the same thing on every thread, regardless of the subject area: She/He knows Special Secret Things that conservatives and Republicans are too Dim to discern. We’re wrong, it’s right, and the juvenile screaming starts up again……

Janos Hunyadi on September 26, 2008 at 12:05 AM

“You just don’t learn do you? Making assumptions once again, TRASH is exactly the right word ;-)

dmann ”

My friend (to use McCain-speak), you are sadly mistaken. The correct word is “THRASH”.

“But in the town it was well known when they got home at night their fat and psychopathic wives would THRASH THEM within inches of their lives.”

Roger Waters on September 26, 2008 at 12:09 AM

Actually, Janos, I made a few substantive points which you may re-read at your leisure.

Your non-substantive response to my subsantive points was to call me a troll and accuse me of using democrat talking points. That might work with the dumber people, but I finished high school (and then some). You’re welcome.

Roger Waters on September 26, 2008 at 12:12 AM

Janos Hunyadi on September 26, 2008 at 12:05 AM

Indeed. But does it rub the lotion on its skin? And if it doesn’t, may we turn the hose on it?

ManlyRash on September 26, 2008 at 12:18 AM

Roger Waters on September 26, 2008 at 12:09 AM

Roger, in the words of Local H

And you just don’t get it
you keep it copacetic
And you learn to accept it
You know it’s so pathetic
and you don’t

Born to be down (google it dude)

dmann on September 26, 2008 at 12:22 AM

Somebody had to say it and nobody does it better than Mark Levin. O’Reilly is a rude self-absorbed buffoon. Levin is correct. O’Reilly is an embarrassment to Fox News.

sinsing on September 26, 2008 at 12:22 AM

O’Reilly has turned into a lib. And a pompous blowhard who is losing his audience rapidly. He should go cohost with Olby and he would surely be welcomed on the Letterman show once again. So long, Bill.

Travis1 on September 26, 2008 at 12:23 AM

dmann on September 26, 2008 at 12:22 AM

Well said (I think).

RW is a Paulnut troll. Always refer to trolls as ‘it.’ tht hate that.

Pay it no mind. Janos and I are trying to get it to rub lotion on its skin.

ManlyRash on September 26, 2008 at 12:25 AM

WomanlyRush,

if a “paulnut” is somebody who supports or voted for Ron Paul, they you are truly a dumbass. HA HA HA!!

What a tool (you AND Ron Paul).

Roger Waters on September 26, 2008 at 12:37 AM

Both these guys are such blowhards. Their mouths should be boarded up for the good of humanity.

philnewkirk on September 26, 2008 at 12:58 AM

I used to be a fan of O’Reilly until I realized that he is just a self-opinionated fool with half-baked ideas and opinions. I got all his books and was a member of his website. When I started to listen to Rush Limbaugh and Mark Levin I found out they are the real conservatives. O’Reilly panders to the likes of Schumer and Al Sharpton. He would sell his soul so as to have the appearance that his opionions are always right. There is no way you can be nice to Democrats. They would eat you alive unless you submit to them like slaves.

mariloubaker on September 26, 2008 at 1:00 AM

Pity that O’Reilly doesn’t stick to what he’s good at: Calling out corrupt judges.

I honestly had respect for him about the time when Culture Warrior came out, and he was campaigning hard for Jessica’s Law. The story in Vermont with Judge Edward Cashman giving the child rapist 60 days in prison was only covered by O’Reilly. Nobody else on radio or tv did it.

But now, he’s on a steady descent into Nowheresville with the constant populist drumbeat against the evil oil companies, and capitalism. And today….man, oh man, calling Limbaugh a liar, however indirect…not a good move. Especially with not a shred of logical argument to back it up.

I remember Laura Ingraham having an “intervention” with Bill when he was railing against unnamed right wing “bloggers” for smearing him or something, and she reminded him that it was the right who made him a success. It sure as heck isn’t the left forming the backbone of his audience. (Or wasn’t, anyway. If I jumped ship, other conservatives must have as well.) Sounds like it’s time for another intervention.

Bill thinks that the government can magically get us out of high gas prices with fuel standard mandates, and Bush can magically wave his magic executive wand and get us out of this financial mess. Does he even hear himself anymore?

It’s a shame, because I was a big fan of his for a long time. But between this and the “Spitty” incident (Geraldo never would have appeared on the show again if I were in charge), I just have to walk away.

Somebody at FOX needs to tell him to quit bloviating about anything economic, and just stick to going after corrupt judges, and whatever the anti-traditional values left is up to. For his sake.

When he says “backbencher”, I know he was referring to Laura Ingraham. Due to work I don’t get a chance to ever listen to Levin live, but I catch him on Olbermann Watch from time to time, and he often talks about a “backbencher who dated him [Olbermann]“, meaning Ingraham (and there’s been other hints it’s her, too).

Anyways, does anyone know the back story on the bad blood between Ingraham and Levin– or, at least, why he calls her a “backbencher”?

Pasalubong on September 25, 2008 at 10:37 PM

I’m pretty sure he’s referring to Michael Savage. (Levin loves to point out that Savage’s real last name is Weiner. There is no love lost AT ALL between those two. Ironically, that’s something Levin and O’Reilly agree on.)

Savage too insulted Hannity and Limbaugh while I listened once. He called Limbaugh “Bush-bot”, and said they were both a part of some vast super double-secret-probation media conspiracy that doesn’t tell the truth….or something. He included O’Reilly in that club too. (Say it with me: WTF?) Jerry Doyle said that Rush’s show sounded like a constant in-the-tank campaign commercial for the RNC, with no incisive commentary (also without any example). Why anyone on talk radio thinks it’s a good plan to insult Limbaugh, I’ll never know. Seeing as the talk radio audience is overwhelmingly a conservative one, and Limbaugh has the biggest slice of that pie, why someone would want to alienate his base is beyond me. It’s one thing to argue a point Limbaugh made, but I’ve yet to hear his competitors do that (successfully, anyway). These sweeping generalizations about Rush just come off as childish, petty, and rooted in jealousy, because he created talk radio as we know it. There’s no guarantee the format would even exist without him. If anything, those tools owe Rush a cigar.

Bill O’Reilly will live to regret today, methinks. Trying to marginalize the most successful man in talk radio as nothing more than an empty act just ain’t gonna fly.

Lame, unnecessary, and classless.

Hawkins1701 on September 26, 2008 at 1:36 AM

Can’t stand O’Reilly, the bloviator. Stopped watching him consistently, some time ago, when he started pointing fingers at the oil execs. Sheesh!

Levin is The Great One! I really respect Mark and he deserves a gold medal for slogging through that cesspool, so we can get to the truth. I feel like I’m in The Matrix when I get lectured on ethics and morals from the Libtards.

I want heads to roll.

luvstotango on September 26, 2008 at 1:45 AM

Mark Levin can lay a smack down like no other.

CP on September 26, 2008 at 2:13 AM

The finger that pushed the first domino in this case was the fed raising interest rates. We had got so stupid with mortgages (interest-only, reverse amortization adjustable for example) that when the fed was forced to raise interest rates in order to protect the value of the dollar, people couldn’t refinance at a rate they could afford. People with reverse amortization mortgages found their loan balance was now growing larger … a fixed payment that only went towards PART of the interest with the rest of the interest due being applied to the balance due … and growing larger faster than appreciation. So they couldn’t refinance at a rate they could afford on the new higher loan amount at the new higher interest rates so they defaulted. Granted, this was only a tiny portion of the mortgages but only a tiny number have defaulted. Less than 2% are in foreclosure. But what this does is drives down the “average” value of the houses in the neighborhood. When that happens, every mortgage company is required to devalue the value of the mortgages they hold in that neighborhood (mark to market) and causes the asset value of the mortgage lender or whoever holds that mortgage to fall.

They can only lend a percentage of their assets so if their asset value falls, they have less money to lend. Right now they are in a situation where the mortgage lenders can’t borrow and they can’t lend because people have been walking away from mortgages they cant refinance at affordable rates and those properties are being sold for only a portion of their previous value driving down the ‘average’ of the market.

The system was set up to fail as soon as interest rates rose. Rates did rise, and the system fell apart. From now on, it should be illegal to issue reverse amortization mortgages (your payment isn’t enough to cover the full interest due and the difference is added on to the loan).

crosspatch on September 26, 2008 at 2:14 AM

I love Mark but I tend to agree with you. Mark knows the Government caused the mess but he doesn’t seem to think they have a responsibility to clean up their mess. I have an open mind and can be persuaded either way at this point but I looked into the abyss last Thursday and I know what’s coming if something isn’t done.

TheBigOldDog on September 25, 2008 at 9:12 PM

This is not meant as a rebuke, but do you really, really trust the government to clean anything up? He is right, they have caused it and will never clean it up, just make a bigger mess out of it. McCain, Bush, and others have been warning us, and congress has done nothing. I’m sick and tired of the government controlling my wallet. Let the free market go, some will sucede, some will fail. Those of us involved with those that fail, oh well, take your lumps and start over. I’ve made many bad business decisions, but never, never had a government bail out. Just picked up the pieces and went forward. If the government really wanted to do something about this, they would immediately drop a lot of the oversight legislation from the books, and lower taxes and suspend capital gains taxes, maybe even some form of the Fair Tax, but get the hell out of the way and let this all sort it’s self out. Might not be pretty for a while, but it will work. I trust the general public more than the government.

N4646W on September 26, 2008 at 2:27 AM

God bless Mark Levin and Rush Limbaugh, they are awesome. O’Reilly is a nothing and always will be. They should take him off the air on both TV and radio. He is a waste of time and kisses up to Obama anyway.

Wild Thing on September 26, 2008 at 2:52 AM

N4646W on September 26, 2008 at 2:27 AM

And the sad thing is that WE are the government. When people say that the government got us into this mess, they mean our elected representatives. But when they say that the government must get us out, they me us, the average citizen. I think I would feel a little bit better if I thought that they would feel one bit of the impact of their decisions other than angry emails, phone calls and letters. And at the very worst not getting reelected. But you usually have to tap dance in a restroom or call somebody a stupid name to get kicked out of office. Getting the country into a financial morass earns you several more years.

Cindy Munford on September 26, 2008 at 3:02 AM

Yes I love this!

ebrawer on September 26, 2008 at 3:04 AM

I’ve always considered O’Rielly one of those who must always be the smartest in the room.

ronsfi on September 26, 2008 at 3:33 AM

Bill O’Reilly is a legend in his own mind. He uses his power to play populist games for ratings and as often as not he ends up hurting the people he is claiming to help.

There are a few things that need to be done about the mortgage problem.

First, the sub-prime balloon mortgages need to be outlawed, period. This was nothing more than a shell game for the mortgage companies. It worked as long as home values rose so that people could continually refinance into another sub-prime mortgage. In fact all adjustable rate mortgages should be outlawed. The buyer needs to know what their payment is going to be.

Next, the big winners in this shell game were the mortgage brokers. They were able to write very questionable mortgages and sell them off to other banks or to the FMs. They got the cash from the closing and handed all the liability to somebody else. Mortgage brokering should be outlawed as well. It should be illegal to sell of any mortgage you write. If you wrote it you own it.

Clear the books of the FMs and shut them down. If the government is going to have to underwrite these mortgages then leave them as part of the FHA program with all of the regulation and oversight that entails.

Establish a program making it mandatory to refinance all of the ARMs at a reasonable interest rate as fixed rate mortgages. The mortgages should be refinanced at the CURRENT value of the home or the amount owed, whichever is lower. In return the homeowner must agree that the lender is entitled to any future profits from the sale of the home up to the amount of the original mortgage. This allows the homeowners to have a chance to afford their homes and even get out from under a home that is too much for them. There also needs to be provisions to guard against the homeowners dumping the homes as a “sweetheart” sale to a friend or relative.

This set of measures would greatly reduce the future foreclosure risk and stabilize the market. They would require MUCH less government money to finance and they would leave the mortgage business more self-regulating since the company that writes the mortgage would have to live with it and the FMs wouldn’t be there to buy bad paper.

Hawthorne on September 26, 2008 at 5:25 AM

One Word.

WOW.

LibertarianConservative on September 26, 2008 at 5:32 AM

Bill O’Reilly is a pompous, self affected fool. He has been demagoging the so called “windfall” profits of “big oil” all summer. He should get back to chasing down perverts in Vermont, etc he’s just not smart enough to keep up with the big boys and their big cigars….

stu.b.con on September 26, 2008 at 6:46 AM

I heard about this and listened to both shows which are broadcast late at night here. First I heard Levin and then at midnight I heard O’Reilly…had to turn down the volume. O’Reilly says during this time that he’s not worried about himself, but the folks…he has plenty of money in the bank, don’t you know. But I think the rant was somewhat about him…he must of lost alot of money on paper with all his investments and so his ire is heightened. What cracked me up on his show is when he said that the Republicans that have been warning about this for years didn’t do enough because they didn’t come on his show or Laura’s…give me a break! If the MSM didn’t pick up those warnings, what makes him think he could have been the saviour if only people talked to him…he had the same ability to watch the various hearings these people cautioned Congress about and he could have booked them so don’t put the responsibility on them for not coming on his show.

deedledee on September 26, 2008 at 7:09 AM

Choice at 8 ET:

1. Meltdown with Keith Olbermann
2. Bill O’ No Spleen Zone

HornetSting on September 26, 2008 at 7:16 AM

Neil Boortz and Rush are always ripping Bill, now Mark. Honestly, I usually only watch when I know Laura Ingraham is on with the Ingraham Angle or is sitting in for him on Friday nights. BTW, “Saving Sprite,” was a great book.

mindhacker on September 26, 2008 at 7:55 AM

Hawkins1701 on September 26, 2008 at 1:36 AM

Good points Hawkins… I also used to listen to Savage on a somewhat regular basis. Then one day I listened to Savage rip into Rush and Sean like a spoiled brat little child who didn’t get the candy bar.

Bill O’Reilly just made a career mistake. I don’t hear Rush or Sean raking on Savage or O’Reilly. These guys stick to their program strategy with strict professionalism. Savage seems pissed because Rush and Sean don’t make mention of his existence. O’Reilly seems pissed simply because he wants so badly to be number one to everybody. I hope O’Reilly see’s the errors of his ways, and somehow learns to be less self centered and arrogant.

I also hold Mark Levin in high regard.

Keemo on September 26, 2008 at 8:10 AM

O’Reilly is a populist posing as a conservative, so HE can rake in the big bucks. Nobody should be fooled by this.

His rants are what it would be like if Huckabee were running for president.

Stepan on September 26, 2008 at 8:32 AM

I don’t remember the circumstances but within the past year Rush appeared on various Fox shows when he was in the news. O’Reilly said a number of times he was working on getting Rush on his show, but it didn’t happen…some resentment there that he was obviously dissed by Rush?

deedledee on September 26, 2008 at 8:40 AM

Bill O could help his case just a little, if he stopped using the royal “we” every time he bloviates HIS opinion.

Star20 on September 26, 2008 at 8:47 AM

O’Reilly started losing me awhile back, but I still watch as I can’t even take listening to Olbergoebbels and his bag of lies…

When O’Reilly started going on about “oil profits” instead of “profit margin”(Neal Boortz educated me beautifully)I knew he’s starting to lean left to hang onto audience share. Too bad the lefties hate him.

His constant talking over guests without letting them finish their point or relay facts to his audience has gotten out of control irritating as of late.
He’s also becoming more of a lefty himself.

Ideally, I’d like to see him replaced by either Neal Boortz, Mark Levin, or Michelle Malkin. Maybe all three in rotation would be nice…I’m all for Fair and Balanced, but I also want news and news opinion shows on Fox to give a conservative view that is lacking from all other television media. Bill is becoming a socialist for ratings. I guess the Klown on MSLSD is really getting to him………..

adamsmith on September 26, 2008 at 8:56 AM

this back and forth screaming and name-calling on talk right-wing populist radio is as grating on the ears as it is effing pointless. POINTLESS.

A pox on all their houses.

Mike D. on September 25, 2008 at 10:48 PM

If I had the media outlet Rush, Sean and Mark have I’d be doing the exact same thing. America seriously needs to wake up because we are on the edge of a socialist utopia if not right in it.
I listen to Rush, Sean, Mark and Glenn Beck not because they tell me what to think, but because they are saying the very things I am thinking.
It’s good to know there are like minded people out there – I used to think I was all alone.

abcurtis on September 26, 2008 at 8:59 AM

O’Reilly is about O’Reilly, it’s all about him. Levin is all about America.
I was watching him last night and when he blamed Bush I yelled at the TV, “it was Clinton you boob“. Started there with the idea every migrant worker should be given a home loan.
Anyone notice since Obama was on his show he kisses The One’s ring at every opportunity, or at least sticking up for him?
Bill O is no leader, that sums it up for me.

FireBlogger on September 26, 2008 at 9:13 AM

God bless The Great One.

Fuquay Steve on September 26, 2008 at 9:25 AM

Levin hates Laura Ingraham? I know he hates Glenn Beck, Michael Savage, and Bill O, but haven’t heard him talk about Ingraham.

Details?

Abby Adams on September 26, 2008 at 9:35 AM

a couple of years ago, when O’R wasn’t having luck with his radio show ratings, he figured out that Rush owns conservative radio, so O’R dropped his (R) and went (I) for ratings. he makes me sick every time he teeters on that independent edge, just to be the King of Teeters.

O’R’s smart, but not that smart to some of us.

jimmer on September 26, 2008 at 9:49 AM

Gee, for some reason I don’t think Levin likes Bill.

IMHO, it always takes years, like lies, to come to fruitition. This mess started with Clinton, just like Ingraham mentioned last night. However, Bush turned a blind eye and didn’t pursue this. Red flags going off everywhere. This has always been the worst administration for not going public. Every Republican or Democrat who saw this train wreck coming should have been shouting from the Capitol steps.

As far as the oil companies go, come on, they’ve made worldwide record profits. I’m not saying like Bill that they fixed the market, but I do believe the oil companies could have voluntarily cut the country a break. It’s not like we have another source of fuel to buy from. They have a chokehold on everyone and they know it. I believe Bill is thinking of the time during WWII, big corporations came together for the nation during wartime. We have a war and we’re also facing higher prices and yes, it would be nice if a corporation would give us a break.

With all that, I too have not been watching too much of Bill. He’s been extremely soft of Obama. In my opinion, people earn “benefits of the doubt” and Obama has done nothing in his past nor his present to earn that.

moonsbreath on September 26, 2008 at 10:04 AM

Roger Waters on September 25, 2008 at 11:43 PM

Tell me, since when was the Government of the United States supposed to be a “profit” center”??

I suppose that after the Government does a smash up job with the mortgage industry…….well……perhaps the Government should look at turning profits in other ventures as well….right?

And IF the Government DID turn a “profit” with this deal….is the Government going to mail checks to EVERY investor in this scheme? The American taxpayers?

The dems already have these “profits” spent pal, in case you haven’t been following the news and NONE of that fairy tale money is going “back to the American tax payer”.

Talon on September 26, 2008 at 10:22 AM

Cindy Munford on September 26, 2008 at 3:02 AM

In theory WE are the government, at least that is what the Founding Fathers projected. In reality it is a different story. Government has become so complex that “We the People” have no real chance of wending our way through it. It has consumed our way of life. For example, would you dare swat your child’s butt for misbehaving in a public place? Not with out thinking of the consequences first. Does your child receive a good general education as say they did back in the “40’s” or is it more politically oriented? Yes, “WE” could fix these things, if the government got out of our way. People in general are very good and creative at solving problems, not governments that want to absorb your whole way of life. Government has it’s place, ours was not meant to consume our whole life, but as a direction for the nation as a whole to proceed, the Founding Fathers realized that and did a stunning job at setting it up for us. Unfortunately, too many saw it as a way to control us and have convoluted it to their purpose. The problem is, how do you change a government that has so many people that exist off of it both politically and economically.

N4646W on September 26, 2008 at 10:34 AM

Popcorn?! Anyone have any popcorn?

HoosierCon on September 26, 2008 at 10:42 AM

Popcorn?! Anyone have any popcorn?

HoosierCon on September 26, 2008 at 10:42 AM

Darn, mine was converted to ethynol!

N4646W on September 26, 2008 at 10:52 AM

O’Reilly tells us (constantly) that he was a professor or history. Did he never learn the old axiom that “those who ignore history are doomed to repeat it”?

TimothyJ on September 26, 2008 at 12:03 PM

abcurtis on September 26, 2008 at 8:59 AM wrote:

we are on the edge of a socialist udystopia if not right in it.

 
FIFY. :-p

It’s good to know there are like minded people out there – I used to think I was all alone.
 
abcurtis on September 26, 2008 at 8:59 AM

 
Far from it! :-)
I just hope that after the election is over and President McCain and Vice President Palin are sworn in, all of us here who have been taking chunks out of each other’s hide during the election season can band together to pull the McCain Administration onto the right path and keep it there…

Mary in LA on September 26, 2008 at 12:58 PM

I thought it was a somewhat weak retort

titus_pullo on September 26, 2008 at 2:40 PM

Let’s face it, cats are for spinsters and embittered old lesbians. ManlyRash on September 25, 2008 at 10:09 PM

Maureen Dowd:

Cat person ___

Dog person ___

Akzed on September 26, 2008 at 2:53 PM

the free market wasnt working in this market with the quasi governmental agencies mac and may.

What free market? Mac and May are an anathema to the “free market”. It’s not that the free market wasn’t working, it’s that there was no free market!

And frankly, how clueless do you have to be to believe that the very people who got us into this mess are somehow able to get us out. For goodness sake, one of the key architects of this disaster, Barney Frank, is one of the head guys negotiating a solution. ARE YOU KIDDING ME!!!!

xblade on September 26, 2008 at 4:57 PM

Hussein is to ‘centrists’, Bill O’, what Michelle Obama is to Donna Reed.

J@goff.

God Bless Rush and The Great One! Never miss a show if I can help it.

Teddy on September 26, 2008 at 5:09 PM

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