Video: Newt gives a reluctant “yes” to bailout

posted at 3:32 pm on September 28, 2008 by Ed Morrissey

Newt Gingrich appeared this morning on ABC’s This Week with George Stephanopolous, and gave a very reluctant endorsement of the bailout package as described in reports this morning:

STEPHANOPOULOS: “Speaker Gingrich, there’s also, I think, a recognition, at least in some of the polls I’ve seen, that something has to be done.”

SPEAKER NEWT GINGRICH: “Sure, look, something has to be done. … I suspect were I still in Congress, in the end George [Will] is right, and I probably would end up voting reluctantly yes, because I think when you’re given no choice …”

I’ll try to get more of Gingrich’s remarks. He makes a good point in the comments here that we’re buying years of bureaucracy for a short-term problem, but the problem will be a lot longer than just two weeks if government doesn’t act to support the prices on the mortgage-backed securities (MBS) that it insisted Fannie Mae and Freddie Mac issue on boatloads of bad loans. Without action, the collapse would probably take place in two weeks, leaving us years to pick up the pieces — and that would cost more than what’s being proposed.

Will Gingrich’s reluctant, watered-down endorsement make conservatives more willing to accept this solution?

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Does this mean, anybody who is upside down can request to have their loan rewritten based on the “new” market value?

(c) CONSENT TO REASONABLE LOAN MODIFICATION
10 REQUESTS.—Upon any request arising under existing in
11 vestment contracts, the Secretary shall consent, where ap
12 propriate, and considering net present value to the tax
13 payer, to reasonable requests for loss mitigation measures,
14 including term extensions, rate reductions, principal write
15 downs, increases in the proportion of loans within a trust
16 or other structure allowed to be modified, or removal of
17 other limitation on modifications.

TheBigOldDog on September 28, 2008 at 8:00 PM

The only hope we have is that all this odd behavior from McCain will all come together like a bolt of lightening and the entire country will say….”Oh, NOW I get it!”.

There is so much to nail them on. Fannie and freddie. Raines. Johnson. Rezko. Babies dying in trash bins. The police state he’s got going in MO. Etc, etc, etc.

We are so used to the reps bitch slapping the traitorous dems, it’s hard to believe that they might out maneuver us with this empty suit slime ball.

csdeven on September 28, 2008 at 8:01 PM

“ The man has stones like bowling balls !!!! ” pdqgba McCotter Rejects 700-pound Billion Dollar Bag of Dung. HT: M. Bensson-Levi /LGF

http://www.youtube.com/watch?v=AbkjIfBIWK4

Rep. Thaddeus McCotter (R- Michigan) translates “Democrat Speak”…A Large Dose of Unflinching Merciless Truth ! ! !

HT: M. Bensson-Levi/LGF
http://www.youtube.com/watch?v=LPc9xG1sajI

don’t know if these have been posted already.

lobosan5 on September 28, 2008 at 8:01 PM

anniekc on September 28, 2008 at 7:55 PM

Kerry, twice. I am pretty sure that’s abuse.

Cindy Munford on September 28, 2008 at 8:01 PM

MSNBC was just about starting to talk about the Asian markets when the channel changed. Are they holding steady? Can’t watch tv; Hubby thinks NHRA Drag Racing is more important now than ever. WANT. TO. KILL. HIM.

NightmareOnKStreet on September 28, 2008 at 7:59 PM

In bedroom because of football game. Forgot about NHRA…damn, still in bedroom.

HornetSting on September 28, 2008 at 8:01 PM

Not only is all this stuff going down, was almost in tears when I talked to my dad tonight, veteran of WW2, Korea and Vietnam about all this…
CinnamongirlUF on September 28, 2008 at 7:53 PM

Wow, that’s someone I could sit and listen to all day, I’m thinking. Three wars? Wow again.

Bishop on September 28, 2008 at 8:03 PM

Huckabee..you know why they gave him his own show…they can’t waterboard at Gitmo anymore…

HornetSting on September 28, 2008 at 8:04 PM

Huckabee is on Fox. Again. I get to not watch it twice.

Cindy Munford on September 28, 2008 at 8:05 PM

Everyone has gone to regular programming. I think the Pubs lost their chance to strike.

HornetSting on September 28, 2008 at 8:05 PM

WTF?! The Huckster?!

Will. Not. Watch.

Damnit! Where is the friggin’ GOP?!

techno_barbarian on September 28, 2008 at 8:06 PM

The Big Old Dad:

No, I don’t think it means that. The truth is it is better for everyone if they find away to keep more of those people in those houses making payments. More forclosures will only make it harder for everyone, including people who are making payments.

Terrye on September 28, 2008 at 8:06 PM

As I’v stated before, I’ve given the Bush administration 7.5 years of support. He owes us. I’m done with listening to Pelosi, et all. making their rightous claims of moral and ethical superiority. That broad is evil. To put Dodd and Fwank in charge of the investigation is a slap in the face to everyone; I will go insane if Bush lets that stand. Seriously. Where do we go from here?

anniekc on September 28, 2008 at 8:07 PM

I love McCotter, if I weren’t straight, male and scotch-soaked I would volunteer to have his baby.

Democrat speak: “The rich = you”.

Classic.

Bishop on September 28, 2008 at 8:07 PM

How many times are they going to play this Shmuckabee show?!

artchick on September 28, 2008 at 8:07 PM

To Washington with pitchforks…

HornetSting on September 28, 2008 at 8:08 PM

Damnit! Where is the friggin’ GOP?!

techno_barbarian on September 28, 2008 at 8:06 PM

Ditto!! Beyond frustrating!

CinnamongirlUF on September 28, 2008 at 8:08 PM

Watching CNBC now. They’ve got the splitscreen and are waiting on the GOP to show up.

When is SOMEONE going to stand up and challenge the outright barrage of dem lies?

Feel like I’m witnessing the overthrow of the USA.

techno_barbarian on September 28, 2008 at 8:08 PM

Yes, Justin Boots. – HornetSting on September 28, 2008 at 7:46 PM

Excellent. Plain boots for a plain Manly Rash.

ManlyRash on September 28, 2008 at 8:08 PM

You guys keep the TV on too much. No wonder you are so angry all the time. It is not good for you to listen to cable news 24/7 while reading political blogs all day.

I get too intense myself, but sometimes you just need to turn it off. Get some perspective.

end of lecture.

Terrye on September 28, 2008 at 8:08 PM

BIG NEWS! says my husband, “Ashley Force won!” Yeah, that’s great. Now can she drive a Republican to the microphone?

NightmareOnKStreet on September 28, 2008 at 8:09 PM

Asian markets here: Link

New Zealand exchange is up. So is South Korean.

Others yet to open.

What it means? Hell if I know.

SteveMG on September 28, 2008 at 8:09 PM

“When America sneezes the rest of the World catches cold.”

very concerned Aussie here.

should I be?

Crux Australis on September 28, 2008 at 8:09 PM

Excellent. Plain boots for a plain Manly Rash.

ManlyRash on September 28, 2008 at 8:08 PM

My husband and I have a pair, in black. Plain, but they do the job.

HornetSting on September 28, 2008 at 8:09 PM

Gawd that was a great video.

McCotter on the ticket somewhere, 2012.

Bishop on September 28, 2008 at 8:10 PM

Who the flip is in charge of programming at FOX?! I can’t believe I have to sit through this. Do all the Republicans have shi* for brains these days? I just want to kill someone right now.

anniekc on September 28, 2008 at 8:10 PM

BIG NEWS! says my husband, “Ashley Force won!” Yeah, that’s great. Now can she drive a Republican to the microphone?

NightmareOnKStreet on September 28, 2008 at 8:09 PM

No No No….don’t spoil it. Have it on DVR pause right now for hubby and I….GO ASHLEY!

HornetSting on September 28, 2008 at 8:10 PM

Who the flip is in charge of programming at FOX?! I can’t believe I have to sit through this. Do all the Republicans have shi* for brains these days? I just want to kill someone right now.

anniekc on September 28, 2008 at 8:10 PM

VP Cheney uses it for torture at Gitmo.

HornetSting on September 28, 2008 at 8:11 PM

annie:

Do you understand how the Congress works? The Democrats won the midterms, that means they run the Congress. That means they have to be in charge of all this. If the Republicans had won, if more conservatives had stopped sulking and actually bothered to vote, the Republicans would be in charge. If that were the case people like Boehner and Blunt and McConnel would be doing the work.

There is nothing Bush can do about that. It is not in his power.

Terrye on September 28, 2008 at 8:11 PM

“…but sometimes you just need to turn it off. Get some perspective.

end of lecture…”

Terrye on September 28, 2008 at 8:08 PM

nuh-uh //walks away cursing//

NightmareOnKStreet on September 28, 2008 at 8:11 PM

annie:

You do not have to sit through it. Turn it off.

Terrye on September 28, 2008 at 8:12 PM

very concerned Aussie here.
should I be?
Crux Australis on September 28, 2008 at 8:09 PM

‘The Road Warrior’ took place in Australia.

Hint hint.

Bishop on September 28, 2008 at 8:12 PM

Excellent. Plain boots for a plain Manly Rash.

ManlyRash on September 28, 2008 at 8:08 PM

Been in the blessed land of Texas for more than 30 years. Never owned a pair of cowboy boots.

You’ll fit in fine.

techno_barbarian on September 28, 2008 at 8:12 PM

The Big Old Dad:

No, I don’t think it means that. The truth is it is better for everyone if they find away to keep more of those people in those houses making payments. More forclosures will only make it harder for everyone, including people who are making payments.

Terrye on September 28, 2008 at 8:06 PM

That’s covered elsewhere. This clause has nothing to do with mortgages in default.

TheBigOldDog on September 28, 2008 at 8:12 PM

I had the TV off all day until around 4:00- saw my “friend” Nancy, and have been waiting for the “any moment” rebuttal. I agree- I can’t have the TV or the computer on any more- It’s not good for my health!

anniekc on September 28, 2008 at 8:13 PM

the door is open, people streaming out on fox,,,

NightmareOnKStreet on September 28, 2008 at 8:13 PM

Nightmare:

But you do. I am not at it myself. But I have noticed that if I make myself do something else, think about something else, it helps me to look at things more rationally.

I spent much of today watching a 6 year old and an infant. Wore me out. But it was nice too.

Terrye on September 28, 2008 at 8:14 PM

annie:

Do you understand how the Congress works? The Democrats won the midterms, that means they run the Congress. That means they have to be in charge of all this. If the Republicans had won, if more conservatives had stopped sulking and actually bothered to vote, the Republicans would be in charge. If that were the case people like Boehner and Blunt and McConnel would be doing the work.

There is nothing Bush can do about that. It is not in his power.

Terrye on September 28, 2008 at 8:11 PM

Don’t make me come through this computer….You are walking on dangerous ground.

HornetSting on September 28, 2008 at 8:14 PM

Been in the blessed land of Texas for more than 30 years. Never owned a pair of cowboy boots.

You’ll fit in fine.

techno_barbarian on September 28, 2008 at 8:12 PM

Snakes, Techno..I was telling him about the snakes….

HornetSting on September 28, 2008 at 8:15 PM

The Big Old Dad:

I guess I just misunderstood your point.

Terrye on September 28, 2008 at 8:15 PM

Yes, Terrye, I do understand how congress works and I’m not even going to accuse you of being a condescending asshole- my point was that George Bush needs to stand up for the plan he proposed, and explain to America why Nancy and friends are full of shi*.

But thanks for explaining it all to me-

anniekc on September 28, 2008 at 8:16 PM

Don’t make me come through this computer….You are walking on dangerous ground.

What is this, please?

I hope you’re joshing.

SteveMG on September 28, 2008 at 8:17 PM

YIPPEEE!

HornetSting on September 28, 2008 at 8:17 PM

McCotter rocks!!!

CinnamongirlUF on September 28, 2008 at 8:17 PM

You guys keep the TV on too much. No wonder you are so angry all the time. It is not good for you to listen to cable news 24/7 while reading political blogs all day.

I get too intense myself, but sometimes you just need to turn it off. Get some perspective.

end of lecture.

Terrye on September 28, 2008 at 8:08 PM

I haven’t watched the news for a long time. I got concerned last week and have been following this online for the past several days. I decided to turn on the TV today and can’t believe what I’m seeing.

I know you think this is going to solve all our problems, but I think it’s the door cracking open to full-blown socialism here in the good ol’ USA.

I understand your not wanting to start over. I’ve been reading you for a long time now. I’m right where you are. I’ve spent my life building what I have, and playing by all the friggin’ rules. I don’t want to lose it all either.

But we are about to be soaked against our will. And all I see the dems doing is lying for political gain…

GOP is on…

techno_barbarian on September 28, 2008 at 8:17 PM

Terrye:
Hang in there.

I know you will but I’m just cheerleading anyway.

SteveMG on September 28, 2008 at 8:18 PM

NO SENATOR JUDD GREGG! YEAH!

HornetSting on September 28, 2008 at 8:18 PM

Terrye on September 28, 2008 at 8:11 PM

who are you to lecture conservatives on voting? if these pols cant keep it in their pants or control their spending then why should conservatives vote for them? you see the “R” beside the name and just pull the lever. you do more damage to the party than good. oh, and since you are for this bailout i doubt you even know what a conservative principle is. in life bad stuff happens, you deal with it and move on. or, if your a liberal like you, you wait for the govt to help. this bailout is a massive f*ing of the worst order. just like roosevelt’s new deal it will retard any recovery, not help it and will mover closer to socialism. it is much better to take the bitter pill and suffer a short while then to look back in 20 years and wonder how we ended up w/ the govt deciding how many and what size tv’s the citizens could have.

chasdal on September 28, 2008 at 8:18 PM

annie:

Do you understand how the Congress works? The Democrats won the midterms, that means they run the Congress. That means they have to be in charge of all this. If the Republicans had won, if more conservatives had stopped sulking and actually bothered to vote, the Republicans would be in charge. If that were the case people like Boehner and Blunt and McConnel would be doing the work.

There is nothing Bush can do about that. It is not in his power.

Terrye on September 28, 2008 at 8:11 PM

That’s one way of saying it. Another might be if we hadn’t tried to corner the market on perverts and crooks and spent like drunken sailors, we might have maintained control.

CC

CapedConservative on September 28, 2008 at 8:18 PM

HornetSTring:

What? annie ask how it is that Bush let people like Nancy do this sort of thing. I was simply pointing out that the people who get the most votes, get the majority and the majority gets to run committees and stuff like that. It is true. As for the remark about conservatives, it is true. All sorts of conservatives told me they were going to sit out 2006 to send a message. Well here is the message. Not all of them did ofcourse. I know I voted, and I imagine you did too. But still, a lot of people did not. and now they are stuck with Nancy.

Terrye on September 28, 2008 at 8:19 PM

Not one Republican hitting the cameras yet? Perhaps they are putting together a hard-hitting response before appearing rather than running out and shouting like a democrat.

Wait and see, a response is coming. This could be a good thing.

Bishop on September 28, 2008 at 8:19 PM

Terrye on September 28, 2008 at 8:15 PM

The point is, it seems to give everybody who owes more (is upside down in financial parlance) on their home (including apartment buildings)the right to request a loan modification even in they are current on the mortgage and the Treasury has the right to even write down the principal… If that’s the case, they are about to open Pandora’s box…

TheBigOldDog on September 28, 2008 at 8:20 PM

“It’s a looong way from where it was a few days ago…”
Roy Blunt

Ordinary1 on September 28, 2008 at 8:21 PM

Terrye on September 28, 2008 at 8:19 PM

Give it a rest. It’s getting old. We are ALL on edge here.

HornetSting on September 28, 2008 at 8:21 PM

CC:

That is a good point. Foley did not help. And neither did Abramoff and his friends. But I don’t think it was really the spending. I know the man who lost in my district was not a big spender at all. Just the opposite. I think the electorate just shifted a little left. And when that happens if conservatives do not get out and vote, they lose.

Terrye on September 28, 2008 at 8:21 PM

I spent much of today watching a 6 year old and an infant. Wore me out. But it was nice too.

Terrye on September 28, 2008 at 8:14 PM

Ot: Spent my day on the couch. Sitting duck. Fever, sneezing, coughing up a lung, sinus headache. Awaiting grim reaper, got Nancy Bella Pelosi instead. Watching an infant & 6 year old sounds like a great way to spend the day. I’m jealous. ;o)

NightmareOnKStreet on September 28, 2008 at 8:22 PM

Hornet:

That is my point. You do not need to be so much on edge. This is not the end of the world.

Terrye on September 28, 2008 at 8:22 PM

Insurance to ensure… are you sure?

Ordinary1 on September 28, 2008 at 8:23 PM

You’ve been vulturing like it is all day.

NO MENTION OF ACORN….COME ON!

HornetSting on September 28, 2008 at 8:23 PM

Nightmare:

It wore me out. I will tell you that. But you know what? Give them a little love and some good food and some entertainment and they are happy. I swear that joy is the natural state of childhood.

Terrye on September 28, 2008 at 8:23 PM

“…this morning on ABC’s This Week with George Stephanopolous…”

It’s got to be a Twilight Zone episode. It just has to be….

Newt? Buddy??

They would not listen; they’re not listening still….

locomotivebreath1901 on September 28, 2008 at 8:25 PM

WTF was that?

HornetSting on September 28, 2008 at 8:25 PM

If it wasn’t for John McCain’s support in that White House meeting, when I objected, “they would have run over me like a freight train.” say, John Bohner

Ordinary1 on September 28, 2008 at 8:26 PM

The Big Old Dog:

Do you actually know if that is the case? It might just be a restructuring to keep payments down enough that people can pay them. Or not. I don’t know.

Terrye on September 28, 2008 at 8:26 PM

The repubs are going to unleash hell.

***snicker*** Yeah, Boehner really laid into ‘em alright. The pubbies always let themselves get pushed to the ground like little wimps. That’s ok, pubbies, go run to momma McCain. He’ll kiss your boo-boo and make it all better after he has a congenial conversation with the bullies that did this to you.

Fletch54 on September 28, 2008 at 8:28 PM

McCotter rocks!!!

CinnamongirlUF on September 28, 2008 at 8:17 PM

yup!!!…jus’when you thought where’s Captain America!!!
McCotter fkng Rawks!!& it’s gonna be a freakin’light show. The Nan has no idea what’s comin’down the ‘Fleece in our time’ pike.

lobosan5 on September 28, 2008 at 8:30 PM

That GOP “press conference” was a big bunch of absolutely nothing. What a waste. I am furious at the lack of effort.

Philly on September 28, 2008 at 8:32 PM

Snakes, Techno..I was telling him about the snakes….

HornetSting on September 28, 2008 at 8:15 PM

Ah! Yes. Sorry.

But honestly I saw more snakes in Georgia when I was there. But then again I’m in DFW and we’re pretty citified here.

techno_barbarian on September 28, 2008 at 8:32 PM

Game goes to Dems due to no show by Repubs.

Damn.

HornetSting on September 28, 2008 at 8:33 PM

I just hope it all works. I was not looking forward to the big collapse. I am too old.

Terrye on September 28, 2008 at 8:33 PM

Game goes to Dems due to no show by Repubs. Damn. – HornetSting on September 28, 2008 at 8:33 PM

Steady there, Texas. I have a hunch…

ManlyRash on September 28, 2008 at 8:35 PM

yup!!!…jus’when you thought where’s Captain America!!!
McCotter fkng Rawks!!& it’s gonna be a freakin’light show. The Nan has no idea what’s comin’down the ‘Fleece in our time’ pike.

lobosan5 on September 28, 2008 at 8:30 PM

Someone please explain what happened? Husband & tv stuck on drag racing stupid.

NightmareOnKStreet on September 28, 2008 at 8:38 PM

should I be? – Crux Australis on September 28, 2008 at 8:09 PM

Nah. We’ve been in worse shit before. Always come through. On the other hand, if we fall, you guys – and the rest of the world – are totally fucked.

Hope that helps.

ManlyRash on September 28, 2008 at 8:39 PM

I stated in another thread…did anyone feel that there was some “hidden speak” everytime Boehner said “we are telling them (House GOP) that we are supporting the bill”?

Other than that…that presser was pure wussy crap and par for the course with Congressional Pubs.

Pelosi, Reid, Dodd, Frank, and Emmanuel lambast the adminstration, McCain, and GOP for over 30 minutes and our guys gives us ZERO.

LordMaximus on September 28, 2008 at 8:43 PM

NightmareOnKStreet on September 28, 2008 at 8:38 PM

http://www.youtube.com/watch?v=AbkjIfBIWK4

this does not strike me as a man who flaps, but then again, i barely know how to post comments.

lobosan5 on September 28, 2008 at 8:43 PM

I saw this at Powerline:

So, what did the Republicans achieve? They put strings on the availability of funds beyond $250 billion, requiring fresh Congressional action for the last $350 billion. They added a requirement that Treasury establish an insurance program which would be funded by participating companies. This may be a big deal; I’m not sure exactly how it is intended to operate or how much, in the end, it will reduce the exposure to the taxpayer. They established a bipartisan oversight committee, rather than a committee run only by the Democrats, as Dodd and Frank had proposed. They took out special interest boondoggles for unions and for ACORN, the voter fraud organization. They removed a provision that would have allowed bankruptcy judges to arbitrarily reduce mortgages, an ill-conceived measure that would have aggravated a central cause of the current crisis, the difficulty of evaluating mortgage-backed securities. And they mandated a GAO study on the impact of the mark-to-market accounting rule, implicitly encouraging regulatory agencies to revise or abandon that principle, which is a key reason why banks that have little to do with the origins of the crisis are currently threatened.

The insurance approach was always central to the House Republicans’ alternative to the Paulson and Frank-Dodd proposals. Whether their impact on the final product is profound, as opposed to merely helpful, depends on whether the insurance program is implemented and becomes a significant brake on taxpayer exposure.

The role played by John McCain appears to have been a constructive one. He supported and worked with the House Republicans. The Democrats no doubt wanted his support for the final product, and that must have enhanced the Republicans’ position at the table. The Democrats would not have wanted an unpopular bailout plan to be supported by Barack Obama and opposed by McCain.

If voters understood the events of the last week, they would probably return control of the House, and perhaps the Senate, to the Republicans. The mainstream media will make sure that doesn’t happen.

Terrye on September 28, 2008 at 8:43 PM

Well, the house reps say that the bill uses no taxpayer money or no taxpayer funds are at risk. Not sure which.

Anyone ever see a magician use léger de main? Something tells me that while we look at the right hand, the left is up to no good.

csdeven on September 28, 2008 at 8:44 PM

If voters understood the events of the last week, they would probably return control of the House, and perhaps the Senate, to the Republicans. The mainstream media will make sure that doesn’t happen.

BWAAAAAAAHAHAHAHAHAHAHAHAHA

And I might personally get a million dollars from this bailout for doing nothing.

LordMaximus on September 28, 2008 at 8:45 PM

Lord:

Look at this way, it is Sunday evening and most regular people will not be paying any attention. So they missed Nancy’s show. I am glad to say I did.

I have to make the sign of the evil eye every time I see that woman.

Terrye on September 28, 2008 at 8:46 PM

Pelosi, Reid, Dodd, Frank, and Emmanuel lambast the adminstration, McCain, and GOP for over 30 minutes and our guys gives us ZERO. – LordMaximus on September 28, 2008 at 8:43 PM

Excellent. Let ‘em keep firing. The more they fire, the closer they draw to us. Steady boys…keep calm.

ManlyRash on September 28, 2008 at 8:46 PM

Now, as long as this is over, the focus can shift back to Oslime-a’s associations with the scum that caused this.

With Americans as pissed off as we are at this mess, anyone steeped in Fannie and freddie will get some seriously bad press.

csdeven on September 28, 2008 at 8:47 PM

Maybe some of those 527 groups could do some ads or something.

I know it is wishful thinking, but I can not help but hope that the FBI investigations would make some highranking Democrats look bad.

I know, I am dreaming. But hope springs eternal.

Terrye on September 28, 2008 at 8:48 PM

csdeven:

Yes, I agree.

Terrye on September 28, 2008 at 8:48 PM

Steny Hoyer talking about the bailout on C-SPAN. It says “LIVE” but how can that be?

NightmareOnKStreet on September 28, 2008 at 8:49 PM

Powerline is right, and the GOP just squandered a prime opportunity to tell the world exactly that. What a miserable failure.

Philly on September 28, 2008 at 8:49 PM

There’s got to be more here than meets the eye. Are the Repubs setting this up to use later? Maybe all will not vote yes, Dems will, and they will be responsible for the largest money grab in history to bail out the very mess the Dems failed policies caused.
The Dems have paraded themselves bfore the microphone plenty of times in the last few days blaming everyone but themselves perhaps the snare was set and the donks walked right in and slammed the door?

McCain or Bush could certainly slam the door now.

What the hell is up with Bush putting Paulson a Dem in charge and is he really briefing 0B0mber twice a day as Emanuel says?

If something is not going om here then we have the absolutely worst reps imaginable and Brit Hume is a better candidate than any we have!

I hope to hell they have a plan and it is more than being nice to the guy thats KICKIN YOUR ASS, I’M GETTIN DAMN TIRED OF NICE!

dhunter on September 28, 2008 at 8:51 PM

A section of the bill with comment (in bold) from Boss:

PREVENTING UNJUST ENRICHMENT.—In making purchases under the authority of this Act, the Secretary shall take such steps as may be necessary to prevent unjust enrichment of financial institutions participating in a program established under this section, including by preventing the resale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset. This subsection does not apply to troubled assets acquired in a merger or acquisition, or a purchase of assets from a financial institution in conservatorship or receivership, or that has initiated bankruptcy proceedings under title 11, United States Code.

Does not apply, in other words, to Fannie/Freddie, JP Morgan Chase/Bear Stearns, WaMu, and Lehman.

Isn’t that nice.

IrishEi on September 28, 2008 at 8:51 PM

Excellent. Let ‘em keep firing. The more they fire, the closer they draw to us. Steady boys…keep calm.

ManlyRash on September 28, 2008 at 8:46 PM

I keep hoping that the strutting dems will completely over play their hand and the truth will come out and squash them like the bugs they are.

Just watched that video at American Thinker about the ‘lynching’ that Raines got. If all of America could only see that, after what’s happened this past week… the dems would be out of power forever.

techno_barbarian on September 28, 2008 at 8:52 PM

techno_barbarian on September 28, 2008 at 8:52 PM

Just a hunch, mind you, but I’ve feeling that, in a few days, McCain’s response will be something like this.

Turn up the volume and enjoy the destruction. If you are still out there Hornet, Crux and Bishop, I want you to see this.

ManlyRash on September 28, 2008 at 8:58 PM

Will Gingrich’s reluctant, watered-down endorsement make conservatives more willing to accept this solution?

Why dont those republican representatives in the congress simply demand what needs to be done, instead of compromising with the worthless peice of bureaucratic crap that will drive our taxes up and not reform the problem?

Why are we wasting time compromising with democrats on this?
They have the votes for it, then let them pass it and let that democrat at the whitehouse sign it into law.

It is simply disgraceful that people like Gingrich just give up.

paulsur on September 28, 2008 at 8:59 PM

Just a hunch, mind you, but I’ve feeling that, in a few days, McCain’s response will be something like this.

Turn up the volume and enjoy the destruction. If you are still out there Hornet, Crux and Bishop, I want you to see this.

ManlyRash on September 28, 2008 at 8:58 PM

I hope you’re right, Manly. No. I’m PRAYING you’re right.

I can’t believe the GOP is this spineless. I sure hope it’s a rope-a-dope and the dems are falling into a trap.

Living in historic times right now, aren’t we? Can’t wait to hear what Rush has to say about all this tomorrow. Should be a damn good show.

techno_barbarian on September 28, 2008 at 9:12 PM

I’m still out here, hammering down some nice scotch and thinking of watching “High Noon”.

Has there been any new revelations, is the GOP still keeping it low key?

Bishop on September 28, 2008 at 9:15 PM

The GOP had better convert this into a public victory quickly, because at this point, this looks like a Democratic win and the GOP just kind of showed up eventually. McCain’s role has been mischaracterized and demeaned as squeaky third wheel and Nan looks like a hero. The Dems have even managed to make it look like Obama is in the loop and was part of the process.

When will the GOP wake up?

Philly on September 28, 2008 at 9:16 PM

I live in CA and a lot of my friends and half of my family are Democrats. I have gotten the email link (to the same video I posted here yesterday)from 7 of them. I think most people who care know (at least in my world)whose fault this is primarily. A lot of these friends and family are mad at the Dem leadership… I hope this translates into more Republicans getting into office in Nov. or at least McCain…

CCRWM on September 28, 2008 at 9:20 PM

I liked the Boehner quote about McCain preventing him from being run over like a freight train. If this bill passes, McCain and the GOP can use this on the campaign trail. They’ve got to !

Steve Z on September 28, 2008 at 9:24 PM

“My message to the American people don’t let Congress seal this deal. High financial crimes have been committed.”

“We are Constitutionally sworn to protect and defend this Republic against all enemies foreign and domestic. And my friends there are enemies.”
Thank you, Marcy for your honesty

http://www.youtube.com/watch?v=oAADyc6t4nY

Congress is under Martial Law…
Rep. Michael Burgess (R-TX) – “We are under Martial Law”
http://www.youtube.com/watch?v=l7B4laX1E70

What the hell is really happening in Washington?

__________________

Virginia Shanahan on September 28, 2008 at 9:25 PM

I sure hope it’s a rope-a-dope and the dems are falling into a trap.

techno_barbarian on September 28, 2008 at 9:12 PM

That’s what I’ve been thinking too. But I should know better. Been burned by these guys so many times it would be safer to assume that I’m the one falling into a trap–again.

IrishEi on September 28, 2008 at 9:26 PM

the problem will be a lot longer than just two weeks if government doesn’t act to support the prices on the mortgage-backed securities (MBS) that it insisted Fannie Mae and Freddie Mac issue on boatloads of bad loans. Without action, the collapse would probably take place in two weeks, leaving us years to pick up the pieces — and that would cost more than what’s being proposed.

What you don’t understand is that this is just going to postpone the inevitable. The problem is that house values and school tuition is too high from easy credit. If they make credit easy again, it will just continue to artificially inflate the values of tuition and housing.

After this bill gets signed, expect inflation to run rampant. The dollar will fall through the floor (after it had been running up pretty well), and the price of oil will skyrocket back to 150/barrel. The global economy and our economy can NOT survive with 150 barrel oil. So if we do this bill, our economy will embark on a long and slow downward bear drift.

If we don’t bail out the banks, then banks fail, market falls 30%, housing prices fall to where people can afford them. . .and we begin to rebuild on a system that has been purged of bad debt.

No bill is better than this bill no matter how you want to slice it. The government is kicking the can down the road to be paid for by our kids, and their grandkids. I can not fathom how irresponsible the congress people are. It is flat out uncanny that the people who got us into this mess are going to claim credit for ‘saving us’ by wasting more of our money.

ThackerAgency on September 28, 2008 at 9:38 PM

I can not fathom how irresponsible the congress people are.

ThackerAgency on September 28, 2008 at 9:38 PM

They’re like that, you know.

MB4 on September 28, 2008 at 9:43 PM

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