Home Forums Hunting & Shooting Hunter's Campfire Obama's October Surprise

Exactly; the market is already correcting itself, and pretty damned quickly, considering.

The gov't is grabbing and trying to socialize the entire economy; and both parties are to blame.

But wouldn't it be just the most delicious backfire if the bill doesn't pass, the markets and the banks start to recover, and Barack is left standing there stammering?

It would only take a few days, a few announcements by banks that "We're gonna be fine," and a few pointed accusations by the GOP.

Who was greedier?

The bank who provided the loan or the person who accepted it, based on NINJA principles or accepted it for a house well above their income level with the idea of living cheaply and flipping the house to make a buck?

Why is it different for the average joe to make a buck but not the bank?

Won't happen in time; Obama and the Dems will pass, in lock step, any bill Obama floats.

I understand.....point taken, but me personnally and I could be wrong do fill something has to happen as in this bail/buy out, possibly helping the economy get going in a quick progressing manner.

By the time An Obammybill gets wrangled out in House and Senate, we could already be seeing an improvement. The, if Bush says "We needed a bill that would help the problem. This isn't it," and vetoes it, then the Demos would be stuck between trying again and leaving Washington to campaign. My bet is on the bastards leaving town with it all undone.

Probably for the best, too. It was Congress that got us into this mess. Them trying to fix it would just make things worse, IMO.

The difference? Banks have been in business for a long time. The people running them are supposedly experts in their field and they bear a fiduciary responsibility to their investors that a private person with most likely less knowledge and education doesn't have. The private person is only risking their own money and credit rating, the banker is playing with other people's money.

It's kind of like expecting a professional race car driver racing for a team in someone else's car to have a tad more skill than some ham and egg commuter driving their own Yugo.
See the difference now?

Keep in mind, the banks are forced by CRA and HUD to lend a percentage of their loans to high risk borrowers or face penalties or worse.

Banks were greedy, but they were also blackmailed.

I fail to see how it was the Republicans who caused this legislation to crash and burn. Democrats voted 140 to 95 in favor of the legislation, while just 65 Republicans backed the bill and 133 opposed it, so the vote was 228 nay, 205 yea.

If only 12 of the 95 Democrats had voted for it, it would have passed 217-216, and the President would have signed it. But -- the Republicans get blamed.

I smell a set up. The next bill that comes up will have Democrats voting in lock-step, and cheering that those bad Republicans couldn't defeat the bill.

Steve

And who was it that forced them to make those guaranteed loss loans? Yup, The very same Demo buffoons who now are trying to "fix" it all.

Fellas, it's a set-up, pure and simple. That's my position at the beginning of this thread, and I fear I'll be proven right.

This has nothing to do with the economy or finances, but everything to do with the election and politics.

It may well be. But, that would be an exceptionally bold move and uncharacteristic for a guy who got his start in politics by voting "present," and who can't answer a simple question without a song and dance routine. His candidacy appears to be picking up steam, so I don't see a reason for him to take a gamble at this point and bet it all on what the stock market looks like 5 weeks from now.

I don't think Obammy is driving this bus, he's just along for the ride.

+1.

That doesn't mean his handlers and financiers won't know how to exploit this to his advantage.

The MSM have done their job well, it seems.

I'm not seeing that. I think the bill never had a chance and both sides knew it. The GOP is blaming the stupid speach Pelosi made, which was a pretty stupid thing to do if she thought their was ever really a deal that would pass.

I think this is about 548( I think that's the number of congressmen that are all up for re-election in Nov. Feel free to correct me if I'm wrong on that one.) congressmen and women that hope to get reelected in 5 weeks. This package is so unpopular they are scared for their lives to approve this thing whether it's the right thing to do or not.

I don't think anyone has that level of control over this process to orchestrate your idea.

Except Obama's comments in support of the bill were virtually identical to McCain's. McCain is the one that turned this into a circus with the whole campaign suspension thing.

Larry Kudlow, earlier today.


The End of the U.S. Financial System as We Know It? [Larry Kudlow]



A number of Republican House members and staff, along with others who are plugged in, are telling me that Nancy Pelosi and the Democrats will come back with a new bill that includes all the left-wing stuff that was scrubbed from the bill that was defeated today in the House.

As this scenario goes, the House Democrats need 218 votes, and they have to pick up a number of black and Hispanic House members who jumped ship because the Wall Street provisions, in their view, were too benign. So things like the bankruptcy judges setting mortgage terms and rates, the ACORN slush-fund spending, the union proxy for corporate boards, stricter limits on executive compensation, and much larger equity ownership of selling banks through warrants will all find itself back in the new bill. Of course, this scenario will lose more Republican votes. But insiders tell me President Bush will take Secretary Paulson�s advice and sign that kind of legislation.

Personally, if this scenario plays out, I would probably withdraw my support for the rescue mission and switch to plan B, which would center on the FDIC and its bank-recapitalization powers. The bank-ownership issue, in particular, could lead to heavy nationalization of America�s financial system with a three-house Democratic sweep in November.

I�m not forecasting, because I don�t know the next bill�s content. And while McCain�s polls are heading south, he could still win. But a three-house Dem sweep to implement some off the very onerous provisions being talked about could set up the end of the U.S. financial system as we know it.

I�m gonna wait and see. Obviously, the financial markets are in total collapse today. And the economic outlook is suffering.

Tough day. One of the worst I can remember.

Obama's not driving the bus, and of course he's not going to be the "face" for the new, ultraleftist version which Pelosi and Reid will concoct by reinserting every provision the Republicans removed. He can smile his idiotic sphinxlike smile while the congressional leadership does the dirty work. And ACORN will get hundreds of millions of taxpayer dollars which it will then funnel back into the campaigns of the democrats who passed the legislation. The markets will recover, and the media will cooperate in the lie that the democrats saved the country from the evil republican tools of wall street.

Don't try to understand US politics, Martin.....it makes very little sense even to those of us who live it.

WTF is ACORN?