The financial anarchy in the US is a God send to the Democrats

|The Democratic party may have no idea how to solve the increasingly bizarre behaviour of the markets and the FED RES and the Bush administration. But such titanic upheavel can be, if the Democrats have the skills to do so, the act to finish the presidential race before it has started if the events can be portrayed as the direct fault of the Rebulican party (not Bush) and its close ties to big business the GOP will not stand a chance of winning. Onced again "its the economy stupid" A party that can be portrayed as being incompetent managers of the economy will surely fail. Confidence in the Rebublicans ability to handle the economy must have taken a beating in the last 48 hours. An 85 million dollar bail out using tax payers money to essentially nationalise a finanicl servies giant does not sit well with the American public. The Presidency is Mr. Obama's to loose.

Never underestimate the stupidity of the American voters,

I believe that was 85 billion dollars MadDog, apparently about a quarter of the government reserves.

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Originally Posted by mad_dog

An 85 million dollar bail out using tax payers money to essentially nationalise a finanicl servies giant does not sit well with the American public.

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Saw today on CNN, the US government is formalizing a plan which will buy out "all" the bad mortgage debts in Financial institutions thoughout the country.

Value of the debt is "huge" and of course will come out of the taxpayer's pocket.

Great system. Privatize gains, nationalize risk!!!!

Dems controlled Congress so - blame will squarely rest on them. Not good news for Dems with an election coming up. Repubs should be in good shape.

^do you live in the real world brit???

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Originally Posted by buriramboy

do you live in the real world brit???

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No he lives in the Republic of the United Republican's of America. Facts are not an obstacle to opinion.

Fact - Dems have been majority in Congress for only 2 of the last 8 years.
Fact - SEC oversight is the responsibility of GWB's Administration which has been in place for nearly 8 years. Even McCain says he would fire the SEC Chairman if he were President.

Facts are not an obstacle to opinion. :rofl:

ps : gotta spread the luv , I'll get back to ya :)

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Originally Posted by buriramboy

^do you live in the real world brit???

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Indeed I do BB - dare say a few pints will be seeing their way to you. ;)

YouTube - Ron Paul Discusses Financial Turmoil and the Fed 9/18/08

The only guy with any brains in the US constitution.

And a true Patriot.

^good doctor, but another yank muppet for a politician.

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Originally Posted by britmaveric

Dems controlled Congress so - blame will squarely rest on them. Not good news for Dems with an election coming up. Repubs should be in good shape.

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It wont work that way brit. The Republicans are in power now so like it or not the average American voter being as smart as they are will blame them. Which is just fine by me.

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Originally Posted by britmaveric

^good doctor, but another yank muppet for a politician.

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Maybe a muppet but he's opened up a can of worms and has been doing so for some time, much to the neocons dissaproval.

At least he has the balls to stand up and say it like it is.

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Originally Posted by aging one

American voter being as smart as they are will blame them

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if the latest polls are anything to go by......

^Seem to be supporting McCain - yank politics, strange bloody animal.

^
you checked the cnn poll of polls today brit?

Not as of today
(CNN) -- Sen. Barack Obama has widened his lead over Sen. John McCain, according to CNN's latest "poll of polls."
https://teakdoor.com/images/imported/2008/09/509.jpg Sen. Barack Obama leads Sen. John McCain by 3 percentage points, according to CNN's "poll of polls."



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The senator from Illinois is ahead of McCain in national polls by 3 percentage points, 47 percent to 44 percent. Obama was up by 2 points in the poll of polls released earlier Thursday.
McCain led in national polls last week, but by the weekend, the candidates were tied. Obama recaptured the lead for the first time in 10 days Wednesday.
The latest poll of polls consists of four surveys: CBS/The New York Times (September 12-16), Gallup (September 15-17), Diageo/Hotline (September 14-16) and American Research Group (September 13-15). It does not have a sampling error.

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Originally Posted by ChiangMai noon

if the latest polls are anything to go by......

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You will notice the poll reaction over the last few days. Clearly the nasty economic situation is driving the shift from McCain to Obama.

RealClearPolitics - Election 2008 - General Election: McCain vs. Obama

John McCain leads Barack Obama by 48 percent to 44 percent nationwide, according to George Washington University's "Battleground Poll"

CQ Politics | Poll Tracker - "Battleground Poll" Has McCain Ahead

Hey you found one where he is still ahead good job.

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Originally Posted by mad_dog

The Presidency is Mr. Obama's to loose.

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Quote:

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Originally Posted by Begbie

Never underestimate the stupidity of the American voters

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race, race, race.......

^
Obama could still lose because he is black, says Kansas Governor .:. NewKerala - India's Top Online Newspaper

New York, Sept.18 : Racism has come to the fore again in the United States more than four decades after blacks were granted their civil and civic rights.
Kansas Governor Kathleen Sebelius has attracted praise for being realistic, controversy and criticism by issuing a statement that said that important Democrat presidential Barack Obama could still lose the elections because he is “black”.

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Originally Posted by aging one

Hey you found one where he is still ahead good job.

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Errr....The poll survey was done 7 Sept. Hardly reflects an up to date poll which would reflect the "economic" issues.

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Originally Posted by britmaveric

Barack Obama could still lose the elections because he is “black”.

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A statement of the obvious. He could win because he's black as well, IMO.

^Well most were done 15-17, so dare say none of these have the real affect - prob see that next week. However that being said polls are worthless.

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Originally Posted by Norton

Quote:

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Originally Posted by britmaveric

Barack Obama could still lose the elections because he is “black”.

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A statement of the obvious. He could win because he's black as well, IMO.

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This is a possibilty and a great stunt.

Get all the poor black communites in the US where their life expectancy is lower than some in africa on your side. They had no one to vote for before cause they were treat like shit, but now they have Obama, he is going to change very little if anything.

People need to start thinking outside of the box

House Republicans Criticize U.S. Action on Crisis (Update1)

By Brian Faler

Sept. 18 (Bloomberg) -- A group of House Republicans criticized the Bush administration's response to the turmoil in financial markets as ``bailout mania.''

``Enough is enough,'' said Representative Jeb Hensarling of Texas. ``It's time to bail out the American taxpayers from bailout mania.''

He said the Republican Study Committee, a group of more than 100 self-described conservative lawmakers, plan to release a letter that asks Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson to ``refrain from conducting any additional government-financed bailouts for large financial firms.''

From:

Bloomberg.com: Worldwide

Good nothing better than the Republicans begin to fight amongst themselves.

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Originally Posted by mad_dog

|The Democratic party may have no idea how to solve the increasingly bizarre behaviour of the markets and the FED RES and the Bush administration. But such titanic upheavel can be, if the Democrats have the skills to do so, the act to finish the presidential race before it has started if the events can be portrayed as the direct fault of the Rebulican party (not Bush) and its close ties to big business the GOP will not stand a chance of winning. Onced again "its the economy stupid" A party that can be portrayed as being incompetent managers of the economy will surely fail. Confidence in the Rebublicans ability to handle the economy must have taken a beating in the last 48 hours. An 85 billion dollar bail out using tax payers money to essentially nationalise a finanicl servies giant does not sit well with the American public. The Presidency is Mr. Obama's to loose.

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typo should be billion. According to some reports including all the other comerical banks who have got aide it comes up to around 300 billion the Fed has dished out

Quote:

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Originally Posted by aging one

Not as of today
(CNN) -- Sen. Barack Obama has widened his lead over Sen. John McCain, according to CNN's latest "poll of polls."
https://teakdoor.com/images/imported/2008/09/507.jpg Sen. Barack Obama leads Sen. John McCain by 3 percentage points, according to CNN's "poll of polls."



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The senator from Illinois is ahead of McCain in national polls by 3 percentage points, 47 percent to 44 percent. Obama was up by 2 points in the poll of polls released earlier Thursday.
McCain led in national polls last week, but by the weekend, the candidates were tied. Obama recaptured the lead for the first time in 10 days Wednesday.
The latest poll of polls consists of four surveys: CBS/The New York Times (September 12-16), Gallup (September 15-17), Diageo/Hotline (September 14-16) and American Research Group (September 13-15). It does not have a sampling error.

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This data has a wide sample group from a variety of idependent surveys and therefore should be the most accurate.

SEC Chairman - all said/done - 1 trillion to fix this mess.

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Originally Posted by mad_dog

|But such titanic upheaval can be, if the Democrats have the skills to do so, the act to finish the presidential race before it has started if the events can be portrayed as the direct fault of the Republican party (not Bush) and its close ties to big business the GOP will not stand a chance of winning... The Presidency is Mr. Obama's to lose.

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To prevent the US economy from collapsing before the November election, the Bush administration has decided to dump $1-5 trillion of debt onto the backs of US taxpayers. In the long run, this bankrupts the federal treasury and dooms the US dollar. Why would Obama or any other sane person want to become president with trillions of dollars of debt having just been dumped in his lap? I supported Obama because of the corrupt and ignorant white trash ticket that he's running against. But there's some poetic justice if McCain wins and faces the consequences of his many years of anti-regulation efforts.

A macroeconomist Nouriel Roubini recently wrote:

"... This is the biggest and most socialist government intervention in economic affairs since the formation of the Soviet Union and Communist China. So foreign investors are now welcome to the USSRA (the United Socialist State Republic of America) where they can earn fat spreads relative to Treasuries on agency debt and never face any credit risks.

"Like scores of evangelists and hypocrites and moralists who spew and praise family values and pretend to be holier than thou and are then regularly caught cheating or found to be perverts, these Bush hypocrites who spewed for years the glory of unfettered Wild West laissez-faire jungle capitalism allowed the biggest debt bubble ever to fester without any control, and have caused the biggest financial crisis since the Great Depression."

Nouriel Roubini: The US has invented socialism for the rich | Comment is free | guardian.co.uk

I disagree with all the leftist comments here.
The burden is not solely on the taxpayers.
The gov't has bailed out Fannie & Freddie (well, they did finance four out of five mortgages over the past year), but the govt expects to recoup the funds through various packages. Face it, Fannie and Freddie had to buy up all mortgages below the congress's cap of about $400k when the primary brokers went tits up. The gov will get about 10% interest on its loans to these conservatorships.

The $85 bil LOAN for AIG gave the govt power over the exec (note CEO Willumstad was replaced by Allstate's Liddy on Thursday) and the co. will sell off assets to help repay the loan while the govt also has warrants that it will naturally redeem at a profit. Sure, the govt should have gone in two days before when the bailout price would have been $40 bil. Call Harry to complain.

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Originally Posted by Jet Gorgon

I disagree with all the leftist comments here.
The burden is not solely on the taxpayers.

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Well, who is it on? The pixies at the bottom of the garden?

BTW - I am *not* a leftist!

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Originally Posted by Jet Gorgon

the govt also has warrants that it will naturally redeem at a profit.

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:rofl:

I'm going to redeem my bar bill at at profit too...:rolleyes:

^ Oh ye of little faith.

The whole mess has reached such crisis proportions that action was necessary to preserve our financial system.

However those Republicans who deride the notion of European style social democracy as a 'welfare state' should have pause for thought- the USA is a welfare state for the rich. Surely that is obvious now.

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Originally Posted by Jet Gorgon

I disagree with all the leftist comments here.

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BTW - I'm not a leftist either. I'm a progressive libertarian who supported Ron Paul (the most conservative member of the US Congress) because he wanted to end US military adventures, honor the Constitution and restore fiscal sanity. All very conservative positions. I support Obama because he's by far the best of what remains. It's odd that anyone would characterize a criticism of Bush's nationalization of corporate debts and busting of the federal treasury as 'leftist'? Bush is not a conservative. He's a big government, radical statist.

Don't confuse jet like that.

She'd rather go with stereotypical labels than be forced to actually think.

^^Would green you, but no repo power. Anyway - you are exactly correct.

Oh, brother. I gave you the basic info. Of course the big boys on the street messed up. There is the basics of what the Fed & Treasury are doing to fix it. Can you fit that info inbetwixt your ranting raves? Give me the Dems fix or better yet, how would they have prevented it? Hey, you get hindsight on your side, as usual.