McPalin is pushing MORE DEREGULATION

[Warren Stupidity]

The Grandstanding McStunt Campaign, suspended from normal campaigning while it screws things up in Washington in a brazen campaign stunt, is backing the House Republican idiocy that would fix the mess on Wall Street, a mess caused by idiotic and irresponsible deregulation of firewalls and safeguards established after the last Great Depression over the last 20 years, by proposing even more deregulation and even less oversight.

"In a morning meeting with Sen. McCain, the group proposed charging premiums to companies that hold mortgage-backed securities and using that money to create an insurance fund for these products. The House Republican proposal would also remove regulatory and other barriers that they say block private investors from pumping capital into ailing financial institutions."
http://online.wsj.com/article/SB122243266787878709.html?mod=googlenews_wsj

The Free Market Fundamentalists, including Mr. McCain himself, are mired so deep in their myopic ideology that despite the manifest market failure that is, we are told, threatening to bring down the entire global economy (except of course for China, which actually makes stuff we need to buy in order to live,) a market failure that requires an intervention that in their terms causes a "moral hazard" forbidden to us mere mortals, is to be resolved by more deregulation and less oversight. This is throwing gasoline on a fire.

It is no wonder that McStunt won't debate. What can he possibly say at this point? Country First Senator? Oh really?

[FreakinDJ]

1. Those Fucks well never learn

[Indenturedebtor]

6. Yes it's amazing they ever became part of the mainstream with their nonsense

Their whole "trickle down" BS just doesn't even sound plausible. It doesn't make sense on so many levels it's pitiful.

[FreakinDJ]

7. If the S&L Bail Out of the 1980s

If the S&L Bail Out of the 1980s, Enron Fleecing investors and Utility Rate Payers of 100s of $Billions of dollars, and finally the “Wall St Melt-Down of 2008”, does not serve as a Gospel like Eulogy of the Failed policies of Reagenomics and the Trickle Down Theory – I don’t know what does

[Indenturedebtor]

8. They will hang in there as long as Faux Noise is around I'm afraid

In a real and true rational argument the policies of the Right are revealed for the filth that they are.

But they are internally consistent enough to sound good to the ignorant and to the denial addicts.

[FreakinDJ]

13. Hopefully – once Obama is in office

We can have a meaningful investigation into what led up to the Banking Crisis and how the players were.

I’ve heard Democratic lawmakers alluding to investigations already saying “Now is not the time to be placing blame, we have to head off a crisis. We’ll have sufficient time to further look into this matter once the markets have stabilized”

I hope public pressure is sufficient ($700 Billion should do the trick) to garner support for a thorough analysis of what went wrong and who the players were. By this means perhaps “Working Americans – The Endangered Working Class” will have a chance

[Indenturedebtor]

17. I hope that you are right. But with the ministry of misinformation we will always be burdened with

a society pumped full of RW lies.

[FreakinDJ]

18. Hopefully DU can be a part of the public outcry

for meaningful investigations

I don't think any bailout plan is going to help the upcoming "Christmas shopping season" or the massive amount of retail jobs that are going to be lost and the subsequent closure of those retailers.

We'll just call that "Phase II"

That is when the pain will be extended down to us "small americans" and the next round of foreclosures will begin - in spite of the "Bailout"

Source: Computerworld

September 26, 2008 (Computerworld) The collapse of Wall Street may prompt financial services firms to increase their use of offshore outsourcing and cut more jobs in the U.S. on top of the layoffs they have already announced.

And that job cutting will happen even with a taxpayer-backed $700 billion bailout. These firms will be under too much pressure to cut costs, and offshore outsourcing will be one way to do it, according to outsourcing consultants.

The financial services industry, including banking and insurance, is already the most aggressive industry in the U.S. when it comes to offshore outsourcing. It is the biggest single source of revenue for Indian offshore companies.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&taxonomyName=knowledge_center&articleId=9115638&taxonomyId=1&intsrc=kc_top

[mmonk]

2. No kidding.

[Gman]

3. So I don't guess Palin will be getting back to Curic anytime soon

with examples of McCain doing regulation...

[tosh]

4. She is even more out of touch with reality than McCain.

[jtrockville]

5. Brilliant! You just can't make this stuff up. (nt)

[riverdeep]

9. Are you kidding? You don't see what's going on?

You actually think McCain is in a WEAK position here? You're wrong. The Dems have been SET UP. This is what I wrote last night:

All of the people saying that what McCain is doing is foolish and intrusive, well that's looking at it strictly from the reality based point of view. You have to consider the point of view of manipulating the public. I believe this is what McCain will do: He has never stated whether or not he supports the President's bailout package, indeed if you can believe it, he says he hasn't even had a chance to read the 3 pages. He will side with the defecting Republicans, who currently have the populist sympathy, and be seen as distancing himself from Bush while Obama, if he supports the bailout, will be seen as the one who swindled the taxpayers out of a trillion dollars and siding with Bush.

If the bailout goes through and the markets don't tank, these people will say the market was fine all along. If the bailout goes through and the market tanks, they will say he just wasted even more of taxpayer money. Obama needs to step carefully here. These next few days can make or break the election. My suggestion, no bailout. Say much more time is needed to hold proper hearings before a decision can be reached. Put this off till AFTER the election. Remember, they had this plan drawn up two months ago!

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=4092998

This is exactly what I knew was going to happen. He is simultaneously distancing himself from his biggest weakness, Bush, while tying Bush to the Democrats. If I can see it, and professional politicians can't, then God help us.

[AzDar]

10. Let's shout this from the rooftops (figuratively, of course).

:kick:

[orwell]

11. So how much are the fund premiums going to be...

...100%, 200%.

Yea, this'll work... :rofl:

[riverdeep]

12. The Dems need to walk away, and say, when the Republicans have a plan

THEY can agree on, then we'll talk, until then, Congress is adjourned.

[Toucano]

14. Yeah, kiddies! More toxic lead laced toys for Christmas!

Gotta get me some of that toxic milk and cat food, too.

[Wilber_Stool]

15. What many are forgetting

is that our solution has to please the rest of the world as well. If it doesn't, they're going to cut us off. Chin has cut off bank loans and the EU has been pulling their money out of the stock market. Make no mistake, the problems are real. Without everyone acting like adults and putting politics aside, we are doomed.

[FKA MNChimpH8R]

16. Mm-hmm. And drilling holes in the bottom of the boat

will drain all the water that's washing in over the sides. :wtf: