So we have President Bush the Constitutional president
Barack Obama in the newly created “Office of the President-Elect

and Hank Paulson the de facto President of the Economy

right? lol

If Obama is going to eliminate waste in the budget, I suggest that he eliminate federal funding for ACORN and similar bleeders of the American economy.

Those failing businesses with their hands out should not be given bailout loans unless they demonstrate a plan for restructuring and their CEOs and CFOs use their golden parachutes as collateral.

The shrinking portion of the population who actually pay federal taxes will be burdened with the debt on these loans well beyond their grandchildren’s time. What will anyone’s incentive be to learn or earn, only to see that effort carry the drones of society? What kind of idiocy is this?

Have these numbskulls factored in the crash factor of entitlement programs bound for failure: Social Security, Medicare, Medicaid? And these are the same nitwits that want to saddle taxpayers with single-payer federal government-directed insurance and health care in addition?

Are all of these “jobs” Obama is promising supposed to be government bureaucracy drone work that handles the administration of federal funds?

It was not deregulation that caused these falling dominoes of woes. It was failure to follow the regulations and lack of accountable oversight that crashed our system.

Who in their right minds lends money to people who have minimal to no down payment and/or no adequate income to repay the loan? Didn’t these losers have to pay for private mortgage insurance if they hadn’t the minimum of 20% down when they applied for a loan?

This whole fiasco of failing credit can be laid at the feet of irresponsible people who don’t understand the connection between cause and effect. The do-gooder social engineers whose best-laid plans always result in unintended consequences should be running for their lives, for there are a number of red-hot angry responsible citizens sharpening their pitchforks.

Well, there goes Bush’s legacy. There could never be another act of violence in the middle east because the Iraq plan turned the whole area into peaceful democracies. But he will forever be remembered as the guy who destroyed the American economy.

Not that he is to blame for the problem arising… But he let his cabinet guys and the idiots in congress have a blank check…

LegendHasIt on November 25, 2008 at 6:52 PM

It’s kind of ironic. Bush, Sr.’s Presidency was killed when he promised to fight Congress — saying that he would tell them to “read my lips, no new taxes.” And the media branded him a “liar” because the Democrats in Congress instituted higher taxes.

Now, you could say that both Presidents did indeed “fail” to oppose the Democrats strongly enough – and you would be correct. But the bizarre thing is that Americans then elected DEMOCRATS to replace them. That’s sort of like throwing FDR out for not prosecuting WW2 stridently enough, and then electing Adolf Hitler as his replacement.

It’s been 28 years since Reagan was elected in his first landslide. Will Beltway Republicans ever learn that trying to compromise with collectivists NEVER pays off?

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

Not fair. These actually accomplish something.

Not that he is to blame for the problem arising; That can accurately be blamed on Mr Community Organizer’s lawsuits against Citibank and others and the lobbying of the Democrats in Congress, to force them to make bad loans.

But he let his cabinet guys and the idiots in congress have a blank check… Which they just gave to their friends in the Executive Suites, and made the problem worse, and worse, and worse. and tomorrow will be worse again.

It is like he decided that after years of (mostly unfair- some deserved) abuse to get even and destroy the economy of America; preempting the Democrat’s plans to do the same thing.

One more trade, hopefully tomorrow, and I should be out of the capital markets completely, forever. I should have done this a year ago when they started losing money; But I was too dang lazy and had a misplaced faith in the ‘powers that be’ to limit the destruction.

I’ll be out soon, on my way to join the guys out at ‘the Gulch’, and I’m going to leave the mines empty and the ore carriers at the bottom of the bay, Just like my pal Francisco.

So Long, Suckers.

If Paulson gets in there with a dozen traders, he can stop the “dumb” selling (not credit based) in funds that are fixed income holders (Fixed income securities are trading in the 70′s (cents on face dollar) and below although they should never trade below 90 cents unless the company who issued the debt has gone bankrupt).

Get the fixed income market back into the 80′s, which should end forced liquidations in mutual funds, and hedge funds. The added benefit is that hedge funds will also stop being forced to sell other investments such as equities, and gold/silver, stabilizing all the markets.

The move ultimately may encourage banks to take more risks in the belief that the government will step in if they run into trouble…

OK, I thought this was childishly obvious the second I heard about the proposed bailout.

…But Henry Paulson is only JUST NOW figuring this out?

compassionate like Bush or Savage? Cause if it’s the Savage type. I’m in!

Mercy4Me on November 25, 2008 at 6:06 PM

Compassionate conservatives like Bush, McCain, Grahmnesty and Steele.

I didn’t see what your talking about. I will keep my eye on them.

http://www.rebuildtheparty.com/

Mercy4Me on November 25, 2008 at 5:25 PM

This is the first time I’ve looked at that sight but from what I saw it looks like an attempt by unemployed compassionate conservatives and RINO’s to re-brand the party in their own image.

They’re part of the problem, not the solution.

C’mon guys, why am I hearing crickets?

Mercy4Me on November 25, 2008 at 5:16 PM

Because you’re too early, yet. Wait a while until everybody, preferably in the entire nation, is screaming mad and then we may have a shot. It’s easier to push something that already has some momentum.

Courtesy of your Big Government and fair-minded liberals.

The solution….MUCH MORE OF THE SAME

Terrye on November 25, 2008 at 4:57 PM

Terrye

Oh I agree. You have no clue how much.

I wonder constantly what would happen if this or that happened. I am no dumby when it comes to such thing. Also, maybe it is the fact I lost my job quite a few years back. Right after I got kicked out of my apartment when I finally got a new job, yet couldn’t pay for the rent. I lived on the streets for a while.. even though I was working. I lived out of garbage cans, stayed at a few homeless shelters if it was cold and used the shower if I needed to. I saved up money from my job that had not clue I was homeless and eventually got a apartment after 3 months on living on the street.

Lets say I had an education in my early 20′s most people wouldn’t want to have an education in. I know how to survive, lets see what others can do if they were in the same boat.

Magic Bullet = J.F.K.
Seven Percent Solution on November 25, 2008 at 4:58 PM

Um, what? I don’t know what you’re getting at, other than possibly trying to get banned.