Sep 26 2008
Federal Bailout Meltdown
What is going on with the bailout plans? Not what’s being said. First the Democrats and Bush could push this deal through, with or without the House Republicans. They have enough votes to get it done, but they are scared this bill will fail and the meltdown will continue into next year. The Democrats are looking for cover by forcing the Republicans to come with them.
Second, word is coming out that John McCain did not blow up at the White House. What really happened may never be known, but some are saying it was Barack Obama who started attacking the Republican House plan, raising tensions rapidly. Confirming that is nearly impossible.
What we do know is this, both sides are playing presidential politics and both fear being wrong on this entire situation; which is likely to be those in favor of the bailout. Lastly, unless Fannie Mae and Freddy Mac are locked up the situation will never be cured and the credit problems will rage.
Also, here’s a thought. If the government is concerned about the credit market, take that trillion dollars and distribute to those with mortgages. This would eliminate many mortgages, toss cash back to the banks and free up the market. If that is really their intentions.
2 Responses to “Federal Bailout Meltdown”
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Wouldn’t that be socializing the mortgage industry? I mean, I think it’s crap that we will get the short end of this, no matter what, but that seems like a very populist suggestion.
Stop trying to lump the Dems in with Bush. The right is so afraid of being called Republicans at this point, they’re saying and doing anything to appear anything but their own party. The Dems are under pressure to pass this legislation, and have been working with both parties to reach an agreement. The House Republicans’ solution for this is to eliminate capital gains taxes, give huge corporate tax breaks, further deregulate the market, and screw the taxpayer.
McFlip-Flop sat in the meeting for over 40 minutes before muttering unintelligibly and offering no fresh ideas.
You can’t spin stupidity. You can’t spin reckless behavior.
And the current bailout is not socialism? I believe it is. As for Dems they most certainly are involved in this up to their eyes…You are smart threedegree, but I have to say you need to step off the partisan stool and look at this from the entire situation. As for McCain, the report is this turned into a Boehner bash, so why would he say anything. Also, I would advise looking into what a captial gains tax is and who pays them.