Keeping a jaundiced eye on the corporate media.
Sep 29th, 2008 at 2:15 pm by Susie
Let’s see what they do now.
… And the Dow hits the skids!!! WHEEEEE!!!!!!!!!
UPDATE: Boehner blames Pelosi’s speech, and the rest of the Republican delegation (you know, the same people who were attacking this plan just hours ago) are attacking the Democrats.
I say the congress critters are too afraid to vote for it. I say that’s good. Screw this “bipartisan solution” crap. It’s a shit sandwich, and Wall St. wants US to eat it.
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first they’re going to blame the critics of the bailout for the plunging DOW. never mind that the reason the markets are panicking is because of the pro-bailout people’s fear mongering. if they hadn’t been making dire predictions (”this deal or we face financial armageddon!!!!”) for the past week, maybe the markets wouldn’t be so spooked.
HOOOOORAY!!!!!
The way the bill was titled AMAZES me!
To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes
what’s amazing about that? it said “and for other purposes”
Nobody can explain what the bailout is supposed to *DO* other than give Paulson, (a Bush appointee) a large blank check to help out speculators in the Mortgage Backed Security scam. This does nothing to re-secure the actual mortgages that should be re-vitalized by any form of bailout, (which would then keep their Ponzi scheme alive with new cash at the bottom of the pyramid).
If the mortgages were affordable, (and people had jobs) the MBS paper would still have value based on receivables. Without mortgage payments pouring in, they’re looking for a cash infusion directly to the top. That might keep the speculators happy, but it does nothing to solve the underlying issue.
…although, i guess i should point out that kevin is wrong about the title of the bill. it seems to be an internet rumor. the actual title can be seen at the top of the full text of the bill: “To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, and for other purposes.”
later on, it identifies the short title of the bill as: the “Emergency Economic Stabilization Act of 2008″ which, ya gotta admit, is a lot more catchy.
For some reason, I’m having a heck of a time getting on to blue dog Obey’s web page. Guess I’ll have to call, and sit on hold for a while.