Today Obama finally made clear that he does in fact, support the bailout:

Clear as mud. Via Ace, we get The Politico

“Obama, on the trail in New Mexico, had this to say of McCain:

“And today he accused me of not supporting what the Treasury and the Federal Reserve Bank did with AIG despite no evidence whatsoever that that’s what I had said.”

To recap, when I wrote earlier today that Obama supported the bailout, I quickly was instructed by his staff that this was not the case. He just didn’t oppose it, I was told.

Now he’s so adamant about not opposing the Fed’s move that he’s complaining about McCain’s portrayal.”

IS this the new double-speak….
Every time this man opens his mouth to explain his position, I get the uneasy feeling that I have entered into a surreal world.
What amazes me (or should I say frightens me) more is that people are buying into this man’s incredible illogical and nonsensecal garbage. Does the American people have their collective heads in the sand. They must in order to support this man.

just said that Obama’s financial policies are naive and would create panic and loss of jobs.

There’s simply no there there, never was a there there, and never will be a there there. Unfortunately, there will no there there in the U.S. Treasury if this lightweight gets anywhere near the Oval Office.

Phil Gramm is, in part, the subject of this NPR Fresh Air interview:

http://www.npr.org/templates/story/story.php?storyId=94686428

The interview is an easy walk through of the latest financial fiasco with Michael Greenberger who formerly directed a division at the U.S. Commodity Futures Trading Commission.

Some key points, coming soon to an Obama commercial near you

Summary:

Dec 2000, then Chair of the Senate Finance Commitee Phil Gramm added as a rider to an 11,000 page omnibus spending bill called the Commodity Futures Modernization Act

They convinced Gramm to introduce the bill just before the Senate was to adjourn for Christmas.

No one understood this bill except the drafters of the bill, who where the lawyers for the investment banks on Wall Street.

The bill freed the investment banks from any regulation of credit derivatives, which directly led to this weeks fiasco and the sudden turn of our country toward socialism for the super wealthy

Graham is McCain’s Chief economic advisor, also an officer of UBS, the Swiss bank that most recently lost 12 billion.

These facts, coupled with the fact that McCain has been heavily dependent on Gramm to help shape his economic policies, leads me to believe McCain will continue to pay a high price for the meltdown this week.

I’m sure we will soon see a re-emergence of the Savings and Loan bailout issue and the whole Keating 5 trouble.

McCain should have picked Romney as VP – don’t mean to rub anyones nose in it – just a fact we can all lament.

We’re very lucky Obama made a major mistake with his VP pick too!

I find it particularly telling that Obama uses FDR and Truman as his examples of strong leadership overcoming economic crisis. After all, Trumans answer was generally to try and have the government sieze an entire industry. Sounds exactly like what Obama would do, doesn’t it?

but we need a thread talking about what a disaster Bush is financially.

Yes, I realize that democrats were in bed with and pushed Fannie and Freddie, and I also realize that democrats okayed Bush’s budgets, but the bottom line is that Bush is the least fiscally responsible president ever.

Before today he had added 4 trillion dollars to our national debt and he had just turned in a roughly 500 billion dollar deficit.

As of today, this bailout is going to add another what…1?…2?…trillion dollars to our national debt?

My generation and my kids generation and my grandkids generation are going to be financially f*cked.

The republican party isn’t conservative and it deserves to catch hell for abandoning fiscal conservatism. They’ve opened the doors for dems to rush in with socialism.

The problem wasn’t the free market…it was that the federal government tried to play with it and in doing so socialized the risks of private enterprises, first and foremost of which was of course fannie and freddie.

Look, I’m all for “on-the-job” training in some industries. I’ve gone through a lot of it myself: Arby’s, Starbucks, Wachovia Securities, etc. My latest job, I should note, did not include on the job training.

I find it especially interesting that a municipal government expects on Day 1 that a policy analysis manager shows up ready to lead.

So, if at that level of government I’m expected to have my act together while the ink on the deal is still fresh, why in the world is Barack Obama running for President of the Universe when he clearly cannot make a decision until everyone else has weighed in including his opponent and the current administration.

This is insane that he has made it this far! What in the world is he going to do if he’s elected and needs to act at 3:00 AM? What in the world are we going to do when he can’t decide how to act?

Folks, the biggest threat to national security at this point is not terrorism, it’s the idiocy of indecision by the Democratic candidate!

Funny, this harkens a quote to memory, someone more qualified and sensible… maybe, Gov. Sarah Palin: “You cannot blink.”

Hmm, Barack, maybe lipstick is the difference!

Look, I’m all for “on-the-job” training in some industries. I’ve gone through a lot of it myself: Arby’s, Starbucks, Wachovia Securities, etc. My latest job, I should note, did not include on the job training.

I find it especially interesting that a municipal government expects on Day 1 that a policy analysis manager shows up ready to lead.

So, if at that level of government I’m expected to have my act together while the ink on the deal is still fresh, why in the world is Barack Obama running for President of the Universe when he clearly cannot make a decision until everyone else has weighed in including his opponent and the current administration.

This is insane that he has made it this far! What in the world is he going to do if he’s elected and needs to act at 3:00 AM? What in the world are we going to do when he can’t decide how to act?

Folks, the biggest threat to national security at this point is not terrorism, it’s the idiocy of indecision by the Democratic candidate!

Funny, this harkens a quote to memory, someone more qualified and sensible… maybe, Gov. Sarah Palin: “You cannot blink.”

Hmm, Barack, maybe lipstick is the difference!

RE:Palin_Deal “McCain should have picked Romney as VP – don’t mean to rub anyones nose in it – just a fact we can all lament.”

Romney would’ve made a fine VP, but he wouldn’t have unified the party the way Palin has, and he wouldn’t have made any advances with independents or disaffected Clinton supporters. McCain unified his party when he selected Palin, Obama ticked off and possibly lost completely a critical section of his party when he failed to even consider Hillary. Palin is a brilliant choice, and no amount of wishful thinking to the contrary will ever change that.

RE:Palin_Deal “McCain should have picked Romney as VP – don’t mean to rub anyones nose in it – just a fact we can all lament.”

Romney would’ve made a fine VP, but he wouldn’t have unified the party the way Palin has, and he wouldn’t have made any advances with independents or disaffected Clinton supporters. McCain unified his party when he selected Palin, Obama ticked off and possibly lost completely a critical section of his party when he failed to even consider Hillary. Palin is a brilliant choice, and no amount of wishful thinking to the contrary will ever change that.

Bush = Hoover.
Welcome to the New New Deal.

Everything will be okay. The government will fix everything.

But HEY!! We’ve had the largest two day jump since 1929!! And that worked out so well!!

To get out of this crisis – and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again – we must take immediate measures….

Once again, the Democrats are suggesting they can end the business cycle all together, providing a utopia free of such inconveniences. Then again, the utopia of socialism never has any busts because it never has any booms, just ongoing poverty in an equal manner for all except the “most equal” class. I’m sure The One will deliver on that.