Posted on 09/21/2008 4:57:31 AM PDT by Alas Babylon!
The Talk Shows
Sunday, September 21st, 2008
Guests to be interviewed today on major television talk shows:
FOX NEWS SUNDAY (Fox Network): Treasury Secretary Henry Paulson; Sens. Jon Kyl, R-Ariz., and Charles Schumer, D-N.Y.; Bonnie McElveen-Hunter, chair of the American Red Cross.
MEET THE PRESS (NBC): Paulson; New York City Mayor Michael Bloomberg.
FACE THE NATION (CBS): Paulson; Rep. Barney Frank, D-Mass.; Sen. Richard Shelby, R-Ala.
THIS WEEK (ABC): Paulson; Sen. Chris Dodd, D-Conn.; Rep. John Boehner, R-Ohio.
LATE EDITION (CNN) : Douglas Holtz Eakin, adviser to John McCain; Austan Goolsbee, adviser to Barack Obama; former Rep. Rob Portman, R-Ohio.; Gene Sperling, former Clinton administration economic adviser; Rep. Ron Paul, R-Texas.
“InfoUSA is the same company cited by the New York Times for creating and selling marketing lists used by con artists to fleece vulnerable elderly people, including those with cancer and Alzheimer’s.”
con artists like MER, MSH, Wachovia Securities who sell annuities at incredulous prices to people that do not need them (pretty much everybody).
Added to that I suspect many thought they were too big to fail and in retrospect they probably were right because they knew as has been proved that the US could not and would not let them ultimately fail.
They have failed in one sense
In order to avoid trouble with the government and the community organizations, the banks went ahead and made loans to people who otherwise wouldn't have passed a credit check - and then sold the loans to Freddie Mac and Fannie Mae who were only to happy to pick them up
I recallan episode(S) in the Sopranos tv that dealt with this....should be required viewing for all dims...
since they are crooks to start with.
“Maybe our schools should teach about money instead of the millions they spend to teach us “diversity”.”
So true.
In fact my father has often told me that some strict Christian groups (sects - do not like using the word for Christians but cannot think off cuff of an alternative) in fact do not allow there members to deal in stocks and shares because they see it as a form of gambling.
Different party, different rules.
Do not go into these CD things. I have a degree in Economics and have no idea how they work or came to be.
Each government department and special interest will want their cut.
“Don’t get me goin’ about Vista!”
Ok, sorry, my condol...er, apologies.
One reason I’m still long HPQ is that they sell PC with XP loaded on them but report Vista sales to MSFT...and short MSFT from time to time.
I cringe every time he criticizes Pres. Bush,
and he got it right back, when Christopher Cox
was right there at the 1st briefing.
Franklin Raines, Jamie Gorelick, Jim Johnson........heck those running it were in it up to their secret bank accounts.....they walk away unscathed and the taxpayers are left footing the bill. We can thank Clinton for another fine mess. And Obama was in it up to his flip flopping ears. Just another phony boon that Clinton was responsible for.
snagged
Redstate has an outstanding explanation and the genesis of the financial failure. It’s long but well worth the read and easily understandable.
Right on ... TERM LIMITS !!
Maybe you know the timing of this. When the Republicans barely had the majority, or it was tied, wasn’t there some rule change that occurred that made it necessary to have a super majority to get anything passed? Who initiated that rule change? I’m thinking Hillary had something to do with that. And, did this rule change cause some good and needed reforms, to be tossed?
Congress writes the laws, he can only enforce, and has very limited enforcement powers that he has to treat like a criminal complaint and give to Justice.
The derivatives markets are intentionally unregulated. This is why it took so long before the crap hit the fan. The issuers of these things simply doubled down and issued more on the same debt and like with Lehman, they compounded their problems as the mark to market rules reduced the equity.
They will have to regulate them now, but that won't help this problem.
The Fed is doing the only thing they can afford to do, which is stabilize the underlying assets, those being mortgage backed CMO's, and this in turn should free up the derivatives for discounted sale.
If we are VERY lucky they will use some of it to cover our deficits in Social Security and Medicare.
No, I do not expect it to happen.
OK,I’m a bit lost myself.
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