Must-listen: Karl Rove on how Obama and Pelosi blew the bailout

posted at 8:10 pm on September 29, 2008 by Allahpundit

Apparently neither one of them lifted a finger to pressure their toadiest toadies, which means either they’re not taking this seriously or they’re too stupid and/or gutless to lean on their colleagues effectively. You’d think The One at least could flip 12 Democrats by promising to swing by their districts while he’s on the road and turn some water into wine or whatever to help get them reelected. After all, if the polls hold, this is going to be his mess to clean up come January. Waiting only makes it worse. Grab a mop, Messiah. Click the image to listen.

Update: Most members of the Congressional Black Caucus, many of whom come from safe districts and aren’t at risk politically, voted no. Good work, Barry.


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Per iTulip

“I work in Credit Department at BoA (Senior Level Credit Analysist Boa Bldg 3rd fl, Char, NC). We just received memo indicating that all BoA credit cards are being closed as of 10/1. Credit score and income do not matter, all accounts are closed as of 10/1.” Executive VP Bank of America

“This is true, but not as bad as he/she says. We are closing accounts, but only ones with credit scores under 750. We will reopen cards within a year as long as crisis lessens.” – J.mcmanus / VP Credit Dept BOA

KentAllard on September 30, 2008 at 12:36 AM

DO NOT USE KARL ROVE AS A REFERENCE FOR THIS TOPIC. HE IS AT FAULT.

http://www.youtube.com/watch?v=vLUbb2DUYGk

bucktowndusty on September 30, 2008 at 12:16 AM

Does anybody know the source of that foreclosure map at the end of the video? I’d like to get a copy of that.

FloatingRock on September 30, 2008 at 12:36 AM

KentAllard on September 30, 2008 at 12:36 AM

I’m not surprised: I closed my account at BOA about a year ago because of unsound practices—giving credit to illegal immigrants.

FloatingRock on September 30, 2008 at 12:39 AM

That doesn’t make it right, and the Republican party shouldn’t be held hostage to MSM propaganda.

FloatingRock on September 30, 2008 at 12:35 AM

The GOP is likely to lose BIG TIME this November anyway, so they might as well do what they think is right.

MB4 on September 30, 2008 at 12:40 AM

The GOP is likely to lose BIG TIME this November anyway, so they might as well do what they think is right.

MB4 on September 30, 2008 at 12:40 AM

Win or lose, doing the right thing will benefit them in the long term.

FloatingRock on September 30, 2008 at 12:42 AM

jeanie on September 30, 2008 at 12:29 AM

Exactly.

Jim-Rose on September 30, 2008 at 12:45 AM

jeanie on September 30, 2008 at 12:29 AM

Exactly.

Jim-Rose on September 30, 2008 at 12:45 AM

Exactly, what? That Republicans should allow the MSM to dictate their actions through propaganda or that Republicans should fight against MSM propaganda?

FloatingRock on September 30, 2008 at 12:48 AM

Cardiganfox, mrsmwp, et al.

Have no fear for my continued pulse. I agree with all your sentiments that it is far better to go out fighting that with a whimper.

I actually have been working on a grassroots movement for the past couple months, unfortunately without notable success, given my business & resources have already fallen victim to our economy and I am sequestered in the solidly red and eminently rational State of Texas. My wonderful State will vote McCain no matter what.

The other problem is that conservatives, as a general rule, are not as motivated for grassroots work as are our more easily lead and naive brethren on the other side of the aisle. We are, by definition, independent and logical thinkers who have better things to do with our lives than overthrow the government. Alas, our unemployed, uneducated (unless you count liberal colleges) and unwashed Liberal friends own the market grassroots efforts, picket signs and boycotts. These actions are easier to support when you depend on others to sustain your existence.

My concerns about an Obama victory are not, however, overstated. This man is a consistently proven failure who is utterly incapable or even pretend leadership. Right now we are all focused on the economic crisis… and rightfully so. Where is Obama? Same place as he been for all 11 years of his political- serving his self interests and narcissism on the campaign trail and staying as far away from accountability as possible. While this crisis is of supreme importance (and he has already proven that he is completely unequal to the challenge) it is but one of many large scale issues that are impacting our nation and the world.

Let’s take one evolving scenario- parts of the South are already experiencing fuel shortages. The winter is coming, along with the huge demand and necessity of heating oil. We have made no progress on supply and are now proposing to spend $700 billion of assets we do not have. Obama has no short term plan and the reserves are already being tapped (thank you Pelosi). So, we’re broke and we have an evolving energy shortage and Obama can’t even name one line item that he would cut after 2 years of campaigning on an economic theme. That is bad. Now, just for fun, let’s say one of our terrorist friends decides that the opportunity is ripe to attack us again, Israel get’s fed up with Iran or Russia decides that they really like that pipeline in Georgia after all. Make no mistake… our enemies are poised and waiting to see how this all shakes out and we are severely weakened. Even without external interference, our domestic situation is clearly beyond the abilities of Obama and Democrats to even acknowledge, much less manage.

No my friends, that is not a world that I intend to live in and I implore all of you to take whatever action is possible and utilize whatever means are necessary to ensure that we do not get to that point.

Damiano on September 30, 2008 at 12:49 AM

I thought my point was clear as could be. But, I’ll repeat if need be. The GOP will be left holding the bag for this and no moral judgment or lament is going to change it. If you need more convincing, start looking at the polls.

jeanie on September 30, 2008 at 12:50 AM

I thought my point was clear as could be.

jeanie on September 30, 2008 at 12:50 AM

If true then you shouldn’t have any difficulty answering my question.

FloatingRock on September 30, 2008 at 12:52 AM

Win or lose, doing the right thing will benefit them in the long term.

FloatingRock on September 30, 2008 at 12:42 AM

If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.
- Confucius

Hopefully it won’t take 100 years though.

MB4 on September 30, 2008 at 12:53 AM

I thought my point was clear as could be. But, I’ll repeat if need be. The GOP will be left holding the bag for this and no moral judgment or lament is going to change it. If you need more convincing, start looking at the polls.

jeanie on September 30, 2008 at 12:50 AM

In my opinion, the polls at this point are clearly engineered to provoke just the response you’re having to them; despair and panic.

I think the American People are smarter than that, and I think they’re mad as hell at what they see happening before their eyes. That’s why the phone lines in Washington and in representatives’ offices are melting down right now.

Sure, I could definitely be wrong. But we’ll find out one way or another very shortly.

techno_barbarian on September 30, 2008 at 1:03 AM

Sure they CAN fight against it if they wish, but it falls into the jousting at windmills category. If you are asking me whether or not they SHOULD, of course, for all the good it will do. Now, if this doesn’t suit you, that’s just something you’ll have to live with.

jeanie on September 30, 2008 at 1:05 AM

I meant Presidential polls–it sounds as if you are talking about something to do with the melt down.

jeanie on September 30, 2008 at 1:08 AM

Sure they CAN fight against it if they wish, but it falls into the jousting at windmills category.

jeanie on September 30, 2008 at 1:05 AM

Then what’s the point of fighting? If it’s as pointless as that, why have two parties? Why not let the MSM/Democrats run the country?

FloatingRock on September 30, 2008 at 1:13 AM

I meant Presidential polls–it sounds as if you are talking about something to do with the melt down.

jeanie on September 30, 2008 at 1:08 AM

All polls. You think things are inevitable, and that is certainly your prerogative. I do not.

Got work to do tomorrow and I must sleep.

Hang in there, everybody.

techno_barbarian on September 30, 2008 at 1:20 AM

Endgame. It’s over. McCain is done. President Barrack Hussein Obama raise your right hand. God help us.

McCain should have had the balls to take a leadership role in this deal and allowing Nancy to bend him over just don’t look too good. Even to one of his most ardent supporters. Me.

Griz on September 30, 2008 at 1:31 AM

I think the American People are smarter than that, and I think they’re mad as hell at what they see happening before their eyes. That’s why the phone lines in Washington and in representatives’ offices are melting down right now.

Sure, I could definitely be wrong. But we’ll find out one way or another very shortly.

techno_barbarian on September 30, 2008 at 1:03 AM

I disagree. McCain shot himself in the foot two weeks ago with one stupid comment, and it’s been downhill ever since. Every time I think he actually knows what he’s doing, he says or does something dopey. At this point, he’s too feeble and weak to point out where the blame belong. In the meantime, he’s forced to babysit Palin because his campgaign botched her roll-out.

McCain’s a screw-up. Regardless of the circumstances, Obama has always been a beatable candidate. What a waste of a candidacy.

BuckeyeSam on September 30, 2008 at 1:37 AM

Even to one of his most ardent supporters. Me.

Griz on September 30, 2008 at 1:31 AM

If you’re one of his most ardent supporters, I’m Batman.

Ronnie on September 30, 2008 at 1:41 AM

If you’re one of his most ardent supporters, I’m Batman.

Ronnie on September 30, 2008 at 1:41 AM

And I’m the Green Lantern. Really I am.

HalJordan on September 30, 2008 at 2:13 AM

bucktowndusty on September 30, 2008 at 12:16 AM

………. Ummmmmmm, no he is not.

If you need a coloring book, let me know………

Seven Percent Solution on September 30, 2008 at 2:42 AM

Endgame. It’s over. McCain is done. President Barrack Hussein Obama raise your right hand. God help us.

McCain should have had the balls to take a leadership role in this deal and allowing Nancy to bend him over just don’t look too good. Even to one of his most ardent supporters. Me.

Griz on September 30, 2008 at 1:31 AM

I am not sure it is that clear cut. Most Americans know that the Democrats have the majority in the House of Representatives. I think it is clear that when 95 Democrats voted against the bill that the Republicans didn’t sink it. The bill was only 13 votes short of passage. Even us dumb Americans can figure out that math. Pelosi didn’t do the job she should have and it cost a lot of folks some their butts on the market today.

Many of us need to keep in mind that we are more politically charged than most people are. Most Americans don’t sweat the little things. They simply look at the surface numbers and blame the leadership. Pelosi is going to take a really big hit on this. Maybe big enough to lose the Speaker position even if the Dems keep control of the House. She will get chewed up by her own party in order for them to save their behinds.

Hawthorne on September 30, 2008 at 2:48 AM

September 30, 2008
Bailout Politics
By Thomas Sowell

Five years ago, Barney Frank vouched for the “soundness” of Fannie Mae and Freddie Mac, and said “I do not see” any “possibility of serious financial losses to the treasury.”

Moreover, he said that the federal government has “probably done too little rather than too much to push them to meet the goals of affordable housing.”

Earlier this year, Senator Christopher Dodd praised Fannie Mae and Freddie Mac for “riding to the rescue” when other financial institutions were cutting back on mortgage loans. He too said that they “need to do more” to help subprime borrowers get better loans.

The roots of this problem go back many years, but since the crisis to which all this led happened on George W. Bush’s watch, that is enough for those who think in terms of talking points, without wanting to be confused by the facts.

In reality, President Bush tried unsuccessfully, years ago, to get Congress to create some regulatory agency to oversee Fannie Mae and Freddie Mac.

N. Gregory Mankiw, his Chairman of the Council of Economic Advisers, warned in February 2004 that expecting a government bailout if things go wrong “creates an incentive for a company to take on risk and enjoy the associated increase in return.”

MB4 on September 30, 2008 at 3:31 AM

I’m not surprised: I closed my account at BOA about a year ago because of unsound practices—giving credit to illegal immigrants.

FloatingRock on September 30, 2008 at 12:39 AM

hahaha

I wonder how kent likes being hoisted up on his own petard?

csdeven on September 30, 2008 at 5:32 AM

Just wanted to make sure everyone read this:
A READER AT A MAJOR NEWSROOM EMAILS: “Off the record, every suspicion you have about MSM being in the tank for O is true. We have a team of 4 people going thru dumpsters in Alaska and 4 in arizona. Not a single one looking into Acorn, Ayers or Freddiemae. Editor refuses to publish anything that would jeopardize election for O, and betting you dollars to donuts same is true at NYT, others. People cheer when CNN or NBC run another Palin-mocking but raising any reasonable inquiry into obama is derided or flat out ignored. The fix is in, and its working.” I asked permission to reprint without attribution and it was granted.

http://www.pajamasmedia.com/instapundit/archives2/025096.php

True_King on September 30, 2008 at 5:39 AM

7%Solution @ 2:42 – I’m not sure how “Bush’s Brain” made it into that vid, a little more info to tie those policies to Rove would have been honest, but you can’t deny that there was Bush pouring gas on the fire in ’02. Obviously, Giuliani knew about Cloward-Priven, but Bush played along perfectly when he said “Hey, Compassionate Conservatism! We’ll not only pay your down payment – we’ll make Section 8 mortgage payments for you!”
He literally made renting sound like something to be ashamed of.
VIVA BUSH VIVA BUSH VIVA BUSH!!

rhodeymark on September 30, 2008 at 6:11 AM

“What was the Speaker thinking?”

Um, stab in the dark here: “I blame Bush.”

Has she had any other thought in the last five years?

saint kansas on September 30, 2008 at 6:27 AM

The foreclosure map is here http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=5163

7% – honestly, your crayon comments makes you look like a child with Democrat intellect. I said in the video, Democrats are at fault, but don’t let blind political party faith blind you from the truth within my video. Karl Rove and Bush tried constantly for 7 years to push Amnesty down our throats. It was part of compassionate conservatism. This is how Rove is involved. He was Bush’s main adviser.

Both parties suck and that’s why I switched from Republican to “I” several years ago.

bucktowndusty on September 30, 2008 at 6:28 AM

Rove looks dumb here. What Pelosi did is genius. Look at the Dems who voted Nay. It’s a calculated way to reintroduce the ACORN pork back into the bill. This new “porky” bill will get the votes from the Dems to pass. Republicans need to go on the offense and start blaming Frank, Dodd, Obama, and Reid for this meltdown – AT EVERY PRESS OPPORTUNITY! GO ON THE OFFENSE!

marklmail on September 30, 2008 at 7:45 AM

Party line vote. No reform, no bailout. Heads need to roll here. Maverick is AWOL on this one. If he had balls he would blame Congress for not acting sooner and vote against the bailout because it does not include any meaningful reform.

House Republicans we love ya. We will be following the votes. This is throw the bums out year. Don’t be a bum and vote for bailout of the Wall Street bums.

The market will clear out the bad debt faster if there is no bailout. There is not enough money in the world to prop up a house with a weak foundation.

Angry Dumbo on September 30, 2008 at 8:20 AM

Let’s be clear – Pelosi was incredibly stupid (if she didn’t torpedo the vote intentionally). The Republicans who voted against the bill because of what she said, however, are also stupid (crap, did I just agree with Barney Frank?).

Both Pelosi and those house Republicans (that voted ‘no’ because of what Pelosi said, not on the merits of the bill) were being jerk politicians and nothing more.

Midas on September 30, 2008 at 8:21 AM

Slim to none. That’s why he’s gonna lose in a landslide. And it’s going to be a bad decade or two for the republicans Americans.

lorien1973 on September 29, 2008 at 10:06 PM

Fixed.

fossten on September 30, 2008 at 8:27 AM

Pelosi did it on purpose. The Dems who voted against it, did so on direct orders. If you don’t believe me, look at the list. It’s all calculated. The KEY is how the Repubs attack the ACORN stuff and point out what the Dems did.

marklmail on September 30, 2008 at 8:36 AM

My Dream

President Bush appears on national television to give a speech. “Dick Cheney has resigned. I thank him for his service. I appoint Mitt Romney to be my Vice-President. He is a skilled financial manager. Just the guy we need right now.”

Romney is sworn in. President Bush starts talking again.

“Right now America needs a leader. Due to my standing in the polls, regretfully, I have lost credibility with the American public. I hereby resign.”

Mitt Romney: Secretary Paulson has done a good job, but people just aren’t listening to him. I hereby fire him. In his place, I appoint Warren Buffett as acting Secretary of the Treasury. I thank Mr. Buffett for serving his country in its hour of need.

Romney and Buffett then get the Paulson plan passed and FDIC insurance limits increased.

America is saved.

indythinker on September 30, 2008 at 8:45 AM

I guess Rove is giving McCain a pass on his leadership skills.

McCain stormed back to Washington to get things done. If they had gotten done, he would have claimed credit for it and you would have given it to him. Things didn’t get done, so now McCain is distancing himself from his part of the blame. Both parties deserve a kick in the nu*s, but the Republicans are particularly not man enough to take it.

Dave Rywall on September 30, 2008 at 9:18 AM

McCain’s visit thwarted an end run by the Dems to ram this pork-laden bill through. ONLY with cover by the MSM could the Dems even ATTEMPT to shove pork into this bailout. REAL journalists would have called them out and alerted the public.

marklmail on September 30, 2008 at 9:33 AM

indythinker on September 30, 2008 at 8:45 AM

In any parliamentary democracy, the government would have fallen over a crisis like this. The opposition party would take undisputed control and be held responsible by the people for fixing the problems.

rockmom on September 30, 2008 at 9:38 AM

So, does this mean we’re not angry with the Republicans who voted “No”, anymore?

eforhan on September 30, 2008 at 9:41 AM

Dave Rywall on September 30, 2008 at 9:18 AM

Did you listen to Rove’s comments? This vote yesterday was a setup by Pelosi. She gave key members of her caucus permission to vote No (including several Democrats who serve on the Financial Services Committee!!) and had her DCCC chairman on the radio telling people they were going to run ads against every Republican that voted for the bill. WTF kind of leadership is that?

Republicans decided they were not going to be Charlie Brown and let Lucy Pelosi pull the football out from under them.

rockmom on September 30, 2008 at 9:45 AM

rockmom – CORRECT.

McCain HAS to drop the “bipartisan” shit, and ATTACK these crooks for what they did. If Palin calls out Pelosi, Dodd, Frank, and Obama for their role in the meltdown.

marklmail on September 30, 2008 at 9:53 AM

Honestly, who are we bailing out? Bankers who packaged bad loans as investment grade securities and bonds paying 12%. Sorry the investors and pension fund managers who bought this crap knew straight up what they were getting into. They didn’t invest in safer instruments paying 2.5 or even 6%, In the world outside of Washington, you make a bad deal, you live with it. We are rewarding bad actors. Worse yet, nobody even seems upset about this. The just put a gun to our head and tell us to hand over our wallets. People who save and invest conservatively are pissed rightfully.

The proposal is to spend 700 billion dollars, more than we have spent in Iraq, and we are not given any details on how this money is going to help us or even who and how this is supposed to help. We are told that “the market” is expecting 700 billion so we have to support it. All the “smart” people in the room know this bailout has to pass, sadly, to some, in a democracy the smart people still have to get the approval of us dummies.

Angry Dumbo on September 30, 2008 at 9:55 AM

oops. If Palin calls these crooks out during the debate, the MSM CAN’T HIDE IT.

marklmail on September 30, 2008 at 9:55 AM

rockmom on September 30, 2008 at 9:45 AM
——

Dems are to blame:
- Pelosi’s speech was obnoxious
- Hypocritical to pi*s on Republicans who voted nay when your own people voted nay and you could have carried the bill yourself.
- Many Individual members voted nay out of ignorance and self preservation

Repubs are to blame:
- McCain makes a big deal out of storming back to Washington to help get a deal, then fully participates in its failure, then refuses to take any responsibility for this failure
- Hypocritical to pi*s on Democrats who voted nay when your own people voted nay
- Many Individual members voted nay out of ignorance and self preservation
- Very obnoxious, irresponsible and immature to sit back and shriek “The Dems control Congress this is their problem” when your country’s financial system is on the brink of disaster.
- Bush has been completely useless – no action, total inability to inspire anybody to do anything, no control over his own party whatsoever

Blame for both 50-50:
-If a deal had been reached and everybody was supposed to be happy with it, yet it was voted down means it actually wasn’t up to snuff, and everybody who came up with the deal is incompetent. Why was it brought forth in the first place?

If you don’t give any blame to the Republicans then you’re blinder than blind. You should get your head out of your a*s.

Dave Rywall on September 30, 2008 at 9:58 AM

Yes, but McCain and Palin should HAMMER the fact that McCain tried to stop this trainwreck years ago. AND Now these same people (Dodd, Obama, Frank) are trying to soak the taxpayers for a TRILLION more! That’s the issue that will hit home. Crooks wanted even MORE of our money!

marklmail on September 30, 2008 at 10:11 AM

Roger Waters on September 29, 2008 at 8:53 PM

Please Do Not Feed the Troll

/zookeeper

ex-Democrat on September 30, 2008 at 10:24 AM

Is this really so hard?

McCain get the EFF out there and blow this financial entitlement out of the water….go straight to the people.

And for gawd’s sake, quit giving reacharounds to the Dhimmicrats. NOBODY CARES ABOUT LYING PIECES OF CR@P.

Take the gloves OFF.

And Boehner? What is UP this this guy? And Cantor?

I loathe politicians.

ex-Democrat on September 30, 2008 at 10:37 AM

Yesterday Democrats blame the whole mess on Republicans. This was a calculated move by the Democrats to ensure Obama’s victory in November and the majority in both houses. Unless Republicans and Mc Cain start exposing the democrats for the craps they are get ready for socialism.

pukara61 on September 30, 2008 at 10:46 AM

Karl has a boogie in his nose.

Jewels on September 30, 2008 at 10:52 AM

I hate to disagree with Rove but I will. When this thing comes back it is going to have most, if not all of the pork back in it and that will satisfy those Dems that need to go back to their districts with the government cheese. Pelosi, with a wink and a nod from Obama, is doing a great job in not only ensuring Obama’s win but in transforming the country into the next EU member-state.

grdred944 on September 30, 2008 at 11:48 AM

grdred944 on September 30, 2008 at 11:48 AM

With all due respect, Rove has the better track record.

Yesterday’s vote proved that the public is in no mood to bail out greedy people and irresponsible companies. Pelosi porks up the the next attempt at her own risk of bringing public outrage down on Democrats for playing politics with this legislation (same reason she needed top cover from the GOP with the first attempt).

highhopes on September 30, 2008 at 12:06 PM

Bush is an idiot. He had a chance to pound Pelosi and the Democrats over her allowing members to vote no and he lets it slide by.

ENOUGH of not politicizing this bloody thing.

McCain needs to hammer Obama and Bush should just shut the hell up if he’s not going to help his party. Clinton would have twisted Newt in a pretzel by now were this other times.

How stupid can Republicans be?

drjohn on September 30, 2008 at 12:06 PM

Second look at Mitt Romney?

hot-heir on September 30, 2008 at 12:07 PM

Right now I fully support rejection of this bill until and unless Pelosi makes a public apology for being an ass. Republicans should now block this thing altogether and then use it in re-elections.

If the Democrats pass it, they can call it a Wall St bailout. It would be powerful stuff.

Pain?

Yeah, pain. Who’s in charge? Blame them.

drjohn on September 30, 2008 at 12:09 PM

For all the doom and gloomers-

DOW is up 260+ so far today. This is not Armageddon. The sooner the Feds just shut up and admit that they are too stupid to do anything intelligent, the sooner the market will rebound on it’s own. Europe was up too.

The problem now is that everyone is twiddling their thumbs trying to figure out how Washington is going to screw things up further.

Eliminate Washington and you eliminate uncertainty.

Damiano on September 30, 2008 at 12:10 PM

Dave Rywall on September 30, 2008 at 9:58 AM

Dave stuff it, you’re in Canada. You aren’t voting in our nation as we do not vote in yours.

upinak on September 30, 2008 at 12:14 PM

And the reason we need JFKerry who served in Nam to lecture us on finacial crisis is because….?

Since when F’nKerry a finacial genius?

His most genius act(s) so far had been marrying two extremely rich women.

Sir Napsalot on September 30, 2008 at 12:15 PM

Ok, so the Dems said that the bill had to pass with “cover” from the GOP, because it was most important that the blame for the bailout be pinned on the Republicans and not them.

So, explain to me again why I should want this bill to pass at all?? If the plan is so damn bad that the primary concern of the entire House is who is going to be BLAMED for it, why not come up with another plan?

Just sayin’.

Priscilla on September 30, 2008 at 12:17 PM

Why not just SAY that this is a failure of Obama leadership?

drjohn on September 30, 2008 at 12:20 PM

Priscilla on September 30, 2008 at 12:17 PM

100% agree. The interesting point is that there ARE alternative plans- Cantor proposed one, Gingrich proposed one, even McCain proposed alternatives.

But they are REPUBLICAN plans and this is a fight against Republicans. Make no mistake- there is no effort for a solution here, it’s a Democratic effort to slaughter Republicans. How else could Pelosi adopt a White House plan, then smear the Booosh administration with it before a vote.

Why not just SAY that this is a failure of Obama leadership?

drjohn on September 30, 2008 at 12:20 PM

You could say that, but for it to be valid he would have had to make even a rudimentary attempt at leadership… something he is utterly incapable of doing.

Damiano on September 30, 2008 at 12:27 PM

Pelosi did it on purpose. The Dems who voted against it, did so on direct orders. If you don’t believe me, look at the list.
marklmail on September 30, 2008 at 8:36 AM

That is my assumption too. Right out of the Saul Alinsky book. It took years to crap out the economy and now the stars conjoin

\”There’s another reason for working inside the system. Dostoevski said that taking a new step is what people fear most. Any revolutionary change must be preceded by a passive, affirmative, non-challenging attitude toward change among the mass of our people. They must feel so frustrated, so defeated, so lost, so futureless in the prevailing system that they are willing to let go of the past and change the future. This acceptance is the reformation essential to any revolution. To bring on this reformation requires that the organizer work inside the system, among not only the middle class but the 40 per cent of American families – more than seventy million people – whose income range from $5,000 to $10,000 a year [in 1971]. They cannot be dismissed by labeling them blue collar or hard hat. They will not continue to be relatively passive and slightly challenging. If we fail to communicate with them, if we don’t encourage them to form alliances with us, they will move to the right. Maybe they will anyway, but let’s not let it happen by default.” – Alinsky Rules for Radicals

Pelosi is dancing with glee I assume. She has a plan where her heart should be as do most politicians

re – BOA

We are closing accounts, but only ones with credit scores under 750. We will reopen cards within a year as long as crisis lessens.” – J.mcmanus / VP Credit Dept BOA

KentAllard on September 30, 2008 at 12:36 AM

A friend consolidated all credit cards onto their bank’s VISA. They are a perfect payer with large but payable debt due to medical. The VISA was sold to BOA. BOA included a slip of paper with the ads included in the monthly billing. In microscopic print was a notice changing terms to almost 30 percent interest unless they froze the account before the next closing date. There were no defaults or late payments. The note said BOA was re evaluating credit lines. The account was frozen and the card holder will no longer have a credit card for emergencies

Had they not consolidated, there would have been options.

Many people will have missed that tiny slip in their BOA billing and gotten nailed to 30 percent usury

entagor on September 30, 2008 at 1:23 PM

It was critical that Pelosi leave the golden parachute in the bill to drive the middle to the Left

It was despicable that so many on the Right could not see that was the key issue. Unless there are public hangings there will be no public support of a bailout.

Hangings first. Bailout second.

That was McCain’s mistake. He should have gone to DC representing the public and negotiated with the public, not the politicans. He could have positioned himself as the spokesman of the victims. He thought he was doing that but working politicans for votes is a private affair and easily misrepresented.

McCain can still do this. It will be harder because before he would have had press coverage, however reluctant. He can get the press coverage back if he goes after the perps.

The good part about McCain is he knows when he has been screwed and he gets ugly.

entagor on September 30, 2008 at 1:34 PM

I wonder, in the mists of time to come, how many generations it’ll take, how many editions of history book’s’ll go to print, before this will be reported….

…’cause all that’s being reported now is Frank’s whining and Pelosi’s whining and Obama’s whining about the Republicans….

…this shows the vacuity of Mr. Obama’s mantra “change”…he’s from the “do something!” party…never “do the right something”, just “do something“.

…in Jonah Goldberg’s current opus, “Liberal Fascism” (which I’m half way through now, and fasciinated), he mentions one of the keynotes of fascism: action. Get out into the streets (or, as we heard recently, “get in their faces”) and “do something”. Make the trains run on time!

The Democrats are proving to be classic totalitarians…half-brained, all-about-action…having caused the problem in the first place by insisting that Fannie Mae, etc., through sound banking and lending practices into the sausage grinder to ensure that we had “affordable” home loans to their “low income” constituents, they’re blaming the very folks who wanted to rein their giveaway, bread-and-circuses economics in for the failure to pass a half-assed, cobbled-together, filled with Democrat pay-offs “solution”….

…and, ironically, they’re championing the half-baked solution of the president whose assasination they’ve mused about, whose reputation they’ve savaged the last eight years, and whom they hold to be the worst president ever…they’re on his side!

…the irony is too delicious to contimplate for too long….

Puritan1648 on September 30, 2008 at 1:38 PM

I haven’t been outside today.

Did the sky fall?

(snicker)

VolMagic on September 30, 2008 at 5:07 PM

Damiano — you should start a website to continue your threats to off yourself over the election. Call it pleasevotetosaveme.com I bet you could take donations, start signature pledges and generally enjoy fifteen minutes of fame. And then you could stop getting emo all over the place here.

VolMagic — the sky is still most assuredly up there, and it isn’t going anywhere. We have faith that He Who Pedals isn’t going to stop any time soon. That being said, the LIBOR rates, TED spread and commercial paper markets are looking worse, not better. The Dow isn’t really the indicator for this crisis…yet.

k2aggie07 on September 30, 2008 at 9:00 PM

Obama and Pelosi did not blow a thing. They wanted to create a crisis, they’ve GOT their crisis, and the only thing I cannot figure out is why Bush is playing along with the Failout.

McCain should distance himself from this nonsense.

Since when is a 4.68 increase in the stock market a crisis?

DannoJyd on September 30, 2008 at 10:46 PM

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