tag:blogger.com,1999:blog-21297199.post2244748056760137582..comments2024-03-29T06:35:11.321-04:00Comments on The Elephant Bar: Friday, September 26, 2008, a new flight plan?Deuce ☂http://www.blogger.com/profile/13472858446242700869noreply@blogger.comBlogger83125tag:blogger.com,1999:blog-21297199.post-15913679091121517432008-09-26T14:04:00.000-04:002008-09-26T14:04:00.000-04:00This comment has been removed by the author.desert rathttps://www.blogger.com/profile/02369546288659566961noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-5334717512829526662008-09-26T14:01:00.000-04:002008-09-26T14:01:00.000-04:00If no plan is produced this afternoon, and it will...If no plan is produced this afternoon, and it will not be, Maverick waits...<BR/><BR/>What if another week goes by, does he still wait?<BR/><BR/>To think the Republicans in the House will cave, says little of them. To think the Dems will go it alone, not all that likely.<BR/><BR/>Will the Pubs in the Senate and Maverick pronounce a "Nonpartisan" Plan, at 1500 hrs EDT?<BR/><BR/>If not Maverick looks the fool, for stiffing Haley Barbour and the Nation.desert rathttps://www.blogger.com/profile/02369546288659566961noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-58414406553632001302008-09-26T13:56:00.000-04:002008-09-26T13:56:00.000-04:00McCain is on none of the Committees and is playing...McCain is on none of the Committees and is playing for space. He'll recieve ownership of a flawed plan, one that will not be neither clean nor popular.<BR/><BR/>It can provide for all the "oversight" in the world, that will not matter.<BR/><BR/>It's amnesty, all over again. There is no rational rebute.<BR/><BR/>It will not be heard, no matter how often or loudly explained.desert rathttps://www.blogger.com/profile/02369546288659566961noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-91995411306332959912008-09-26T11:59:00.000-04:002008-09-26T11:59:00.000-04:00JPMorgan Beat Out 3 Other Bidders for WAMU!That's ...JPMorgan <B>Beat Out 3 Other Bidders</B> for WAMU!<BR/><BR/>That's <B>3 other bidders</B> to bid on the next tits-up bank.<BR/><BR/>BTW, the Discount on those "Assets" wasn't all that large.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21297199.post-46687708569091661882008-09-26T11:41:00.000-04:002008-09-26T11:41:00.000-04:00you mean McCain isn't the only one playing politic...you mean McCain isn't the only one playing politics with the Bailout? Tell me it ain't so!!Ashhttps://www.blogger.com/profile/06232405130481114127noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-72710049536187080972008-09-26T11:39:00.000-04:002008-09-26T11:39:00.000-04:00Exactly so, and it cuts both ways:re: Letting lead...Exactly so, and it cuts both ways:<BR/><BR/>re: Letting leadership off the hook [Amy Holmes]<BR/><BR/>Me thinks Pelosi is playing this out for as long as she can.<BR/><BR/>Yesterday, Congresswoman Melissa Bean (D.,Ill. and self-described "Obama Mama") told me that the bailout is deeply opposed by the folks back home. Constituents are outraged that Congress is giving away $700 billion taxpayer dollars to greedy and incompentent Wall Street fat cats (okay, she didn't actually use the term "fat cats.") She told me in no uncertain terms that she believes that the banking system is genuinely on the brink, and legislators have no choice but to pass the bill and face an angry public and explain their vote. And it ain't gonna be pretty.<BR/><BR/>So, one can reasonably presume that Pelosi knows all of this. She's wants it both ways. And for at least the next six hours, she'll get it. Duck the blame on a massivley unpopular bill by running for cover under the objections of the Republican minority. Claim frustration that her party's noble and principled efforts to do the necessary and difficult thing are being thwarted by small-minded Republicans. Don't let Democrats get the blame for an unpopular bill or for irresponsible inaction. She wants Republicans on the hook, one way or another. <BR/><BR/>09/26 11:25 AMtrishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-24952214387328662402008-09-26T11:24:00.000-04:002008-09-26T11:24:00.000-04:00If I were in McCain's shoes I'd want to keep a fai...If I were in McCain's shoes I'd want to keep a fair distance from the plan, while having many solemn-sounding things to say about the whole predicament. You betcha.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-46080940174514382732008-09-26T11:20:00.000-04:002008-09-26T11:20:00.000-04:00The administration had a looooong time to ramp up ...The administration had a looooong time to ramp up for Iraq - and in political circumstances that could hardly be more different from today. For a lot of people, the costly outcome of that decision weighs upon their opinion of this bailout - but this is the far riskier political gambit, on a breathtakingly short time line.<BR/><BR/>It seems the public would be more inclined to support an invasion of Wall Street than a rescue mission.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-69222751964803312692008-09-26T11:16:00.000-04:002008-09-26T11:16:00.000-04:00Charles, you get a post for that one. Careful, you...Charles, you get a post for that one. Careful, you may end up on the board.Deuce ☂https://www.blogger.com/profile/13472858446242700869noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-45454403763545892852008-09-26T11:13:00.000-04:002008-09-26T11:13:00.000-04:00I have never watched the daily show. I doubt that ...I have never watched the daily show. I doubt that I will start. However, Bush has been skewered on this site for his performance as President, IMHO, deservedly so. <BR/><BR/>Harry Reid claims the Democrats have no responsibility in this problem. He claims that it is all about the Republicans.<BR/><BR/> It comes down to who do you trust the least.Deuce ☂https://www.blogger.com/profile/13472858446242700869noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-50119161202145384172008-09-26T11:12:00.000-04:002008-09-26T11:12:00.000-04:00This 10 minute utube video does an outstanding job...This 10 minute utube video does an outstanding job of explaining what happened with fannie and freddie--and all the players between.<BR/><A HREF="http://www.youtube.com/watch?v=H5tZc8oH--o" REL="nofollow">http://www.youtube.com/watch?v=H5tZc8oH--o</A><BR/>Its also a brilliant use of google search. As a search guy myself -- I'm impressed by the way these guys have searched and stitched together this story.<BR/><BR/>Warning you do need to hit the pause button on utube because the info will start to pass quickly.<BR/><A HREF="http://www.youtube.com/watch?v=H5tZc8oH--o" REL="nofollow">Burning Down The House: What Caused Our Economic Crisis?</A><BR/><A HREF="http://www.youtube.com/watch?v=H5tZc8oH--o" REL="nofollow">http://www.youtube.com/watch?v=H5tZc8oH--o</A>Charleshttps://www.blogger.com/profile/00309874271007264384noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-57564264977717300022008-09-26T11:11:00.000-04:002008-09-26T11:11:00.000-04:00Where the hell is the chaff button on this keyboar...Where the hell is the chaff button on this keyboard...<BR/>*<BR/>* <BR/>* or should it be<BR/>$<BR/>$<BR/>$$$$$$joe buzhttps://www.blogger.com/profile/09670669846341801802noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-56109165408301036312008-09-26T10:58:00.000-04:002008-09-26T10:58:00.000-04:00Let me try to explain my comment of last night - t...Let me try to explain my comment of last night - that McCain is showing the same strategic acumen as Bush (dubya).<BR/><BR/>Both men seem to wager on outcomes that they have little control over. In dubya's case what determines the level and deployment of US forces in Iraq is predicated upon benchmarks that the US has little control over - political progress, levels of violence ect. McCain has done something similar with his suspension of the campaign. He suspended his campaign in order to get this Bailout deal done in Washington. If the deal doesn't get done then what is he going to do? Either he flip flops and campaigns anyway or he doesn't campaign. If the deal gets done and it is unpopular (given the sentiment I've seen that is most likely) then he's tarred himself with the Bailout. His only hope, and this is a direct consequence of his shoddy decision is to hit the home run of being seen as pivotal in brokering a Bailout which saves the world. Good luck on that one buddy. This is an example of poor strategic thought.<BR/><BR/><BR/>Speaking of dubya did anyone see Jon Stewart last night on the Daily Show? His juxtaposition of Bush's speech stating his case for invading Iraq and his speech urging the passing of the Bailout are chillingly similar. Check it out, its the first segment of last nights show.<BR/><BR/>http://www.thedailyshow.com/Ashhttps://www.blogger.com/profile/06232405130481114127noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-46882838368988335182008-09-26T10:52:00.001-04:002008-09-26T10:52:00.001-04:00Oh yea, it is a high risk political gamble. The qu...Oh yea, it is a high risk political gamble. The question is, is it the right thing to do?Deuce ☂https://www.blogger.com/profile/13472858446242700869noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-42647082514012859422008-09-26T10:52:00.000-04:002008-09-26T10:52:00.000-04:00Insuring MBSs vs. Buying Them Stephen SpruiellI'...<STRONG>Insuring MBSs vs. Buying Them </STRONG> <BR/>Stephen Spruiell<BR/><BR/>I'm not sure about the central planks of the alternative plan House Republicans have put forward:<BR/><BR/>* Rather than providing taxpayer funded purchases of frozen mortgage assets, we should adopt a mortgage insurance approach to solve the problem. <BR/><BR/>* Currently the federal government insures approximately half of all mortgage backed securities. (MBS) We can insure the rest of current outstanding MBS; however, rather than taxpayers funding insurance, the holders of these assets should pay for it. Treasury Department can design a system to charge premiums to the holders of MBS to fully finance this insurance.<BR/><BR/>Immediately, this strikes me as the kind of program that has the potential to become a permanent feature of the policy landscape as opposed to a temporary measure.<BR/>These kinds of government insurance plans can be very hard to kill. Whatever its drawbacks, the Paulson plan — buy, hold, liquidate — would be easier to terminate. <BR/><BR/><A HREF="http://corner.nationalreview.com/post/?q=OTEyMTc4YmI4Y2FkZGY1YzIwMjYwOTEwNWRmOGNlZTM=" REL="nofollow">the alternative plan</A> House Republicans have put forward:<A HREF="http://corner.nationalreview.com/post/?q=ZTI2OTBiN2Q1MDJjY2Q2YTcxY2QyMTA4M2RlMWMxOTQ=" REL="nofollow">LINK</A>Doughttps://www.blogger.com/profile/16770268554450465514noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-63566237880345963332008-09-26T10:47:00.000-04:002008-09-26T10:47:00.000-04:00What if...What if McCain ends up "on the hook" - t...What if...<BR/><BR/>What if McCain ends up "on the hook" - to a greater extent than Obama - for a plan that, whatever compromises/improvements it entails, is still opposed in the main by most Americans, diverting too sharply from the present mood?<BR/><BR/>As it is, the Democratic majority will not act without some House Republican assent - though they certainly could - because they don't want any significant contingent to be *off* the hook. <BR/><BR/>Just thinking about the ways in which perceived ownership of this could go bad.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-70058874871166107662008-09-26T10:46:00.000-04:002008-09-26T10:46:00.000-04:00Boston Globe reports:Iranian president Mahmoud Ahm...Boston Globe reports:<BR/><BR/>Iranian president Mahmoud Ahmadinejad weighed in on the US presidential election today, noting that only one of the candidates supports restoring diplomatic contact with Iran. <BR/>In response to a question from an American student about whether he supports Democratic nominee Barack Obama or Republican John McCain, Ahmadinejad did not explicitly name Obama but said: “The American government 28 years ago decided on its own to cut its ties with Iran . . .We do prefer to have relations, whereas one of the candidates in this election would prefer that.”<BR/><BR/><BR/>Most voters don't seem to care much about foreign affairs these days. Still, being Mahoud Ahmadinejad's favorite presumably won't be viewed as a plus by most Americans.Bobhttps://www.blogger.com/profile/04145155737835511824noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-69522794828908472702008-09-26T10:41:00.000-04:002008-09-26T10:41:00.000-04:00McCain should be tired by tonight.If he goes. Wond...McCain should be tired by tonight.<BR/>If he goes. Wonder how much stamina he's got.<BR/><BR/>Article says a one man debate can't be held if McCain doesn't show--illegal campaign contribution.Bobhttps://www.blogger.com/profile/04145155737835511824noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-28110198912833483062008-09-26T10:36:00.000-04:002008-09-26T10:36:00.000-04:00McCain is working on the Rescue plan and Obama is ...McCain is working on the Rescue plan and Obama is prepping for a debate.<BR/><BR/>Is he nuts?Deuce ☂https://www.blogger.com/profile/13472858446242700869noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-20531413951565290072008-09-26T10:35:00.000-04:002008-09-26T10:35:00.000-04:00In a very small handful of states.In a very small handful of states.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-26477175978921565502008-09-26T10:33:00.000-04:002008-09-26T10:33:00.000-04:00The battle at this point, as in the previous three...The battle at this point, as in the previous three elections, is over the sliver of independent voters, Republicans and Democrats already having "come to Jesus." It is the independents who are going to decide this.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-23842133566909874222008-09-26T10:29:00.000-04:002008-09-26T10:29:00.000-04:00(All we lack now are Bill Kristol's smarmy assuran...(All we lack now are Bill Kristol's smarmy assurances that the whole thing will pay for itself.)trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-66131964960848267022008-09-26T10:28:00.000-04:002008-09-26T10:28:00.000-04:00The polls as of this moment don't mean anything. n...The polls as of this moment don't mean anything. nada, nothing. If McCain can roll this finacial rescue out and he gets Obama stammering in Oxford, it will be over. <BR/><BR/>Obama should be plus 15 in the polls. Instead he is toe to toe with a 72 year old man and sweating.Deuce ☂https://www.blogger.com/profile/13472858446242700869noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-90181254907451432432008-09-26T10:26:00.000-04:002008-09-26T10:26:00.000-04:00Re Sandbagging:Cato Scholar Comments on Bush's Add...Re Sandbagging:<BR/><BR/>Cato Scholar Comments on Bush's Address on the Economy and Proposed Bailout<BR/><BR/>Thursday, September 25, 2008<BR/><BR/>William A. Niskanen, chairman emeritus and distinguished senior economist:<BR/><BR/> For the second time in six years, the Bush administration has asked Congress for nearly unlimited authority without an independent professional review of the evidence that led the administration to request such authority.<BR/><BR/> In making the case for the Iraq war resolution, according to Senator John D. Rockefeller, "the administration repeatedly presented intelligence as fact when it was unsubstantiated, contradicted or even nonexistent. As a result, the American people were led to believe that the threat from Iraq was much greater than actually existed."<BR/><BR/> As it turned out, of course, no "weapons of mass destruction" were ever discovered.<BR/><BR/> The skeletal proposal for the Troubled Asset Relief Program states that "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this act without regard to any other provision of law regarding public contracts" – again without an independent professional review of the evidence that led the administration to request such extraordinary authority.<BR/><BR/> In both cases, the administration requested urgent congressional approval of these measures when members of Congress were anxious to go home to run for reelection. And a final irony: the total direct cost of the Iraq war to date has been about $700 billion, the same amount that the administration has requested to buy bad mortgages.trishhttps://www.blogger.com/profile/14139410627244875589noreply@blogger.comtag:blogger.com,1999:blog-21297199.post-89070355869787586872008-09-26T10:24:00.000-04:002008-09-26T10:24:00.000-04:00McCain sliding in polls--Daily Update McCain Onl...McCain sliding in polls--<BR/><BR/><BR/><BR/>Daily Update <BR/> <BR/>McCain Only Ahead By One Now in Florida <BR/> <BR/> <BR/><BR/>The race for Florida's Electoral College votes is closer now than it was just a few days ago. Consistent with a pattern found in national polls and in several other state polls, John McCain has lost ground in the Sunshine State, but support for Barack Obama hasn't increased. <BR/><BR/><BR/> <BR/> <BR/> <BR/>Ohio Now a Toss-up<BR/> <BR/>The latest Rasmussen Reports telephone survey in Ohio finds John McCain with 47% of the vote while Barack Obama picks up 46%. That's a slippage of three percentage points for McCain since Sunday night. In four previous surveys conducted over the past month, McCain has held an advantage ranging from three to seven points. <BR/> <BR/>Daily Presidential Tracking Poll <BR/> <BR/>The Rasmussen Reports daily Presidential Tracking Poll for Friday shows Barack Obama attracting 50% of the vote while John McCain earns 45%. This is Obama's biggest lead since his convention bounce peaked with a six-point advantage. <BR/> <BR/>Just 30% Think Government Should Bail Out The Markets <BR/><BR/>Obama Takes Four-Point Lead in Pennsylvania<BR/><BR/><BR/>North Carolina Senate: Hagan 48% Dole 45%Bobhttps://www.blogger.com/profile/04145155737835511824noreply@blogger.com