Liberals decided years ago that poor people should be able to own homes, free market be damned. So, they passed legislation to force lenders to give money to people that couldn't pay it back. Efforts to try and reform Fannie and Freddie were stalled for years by the Democrats in Congress. These same Democrats are now our supposed saviors who say it's all the fault of capitalism.
Why didn't the "crap sandwich" pass in the House? Did Pelosi blow it?
No, this was her plan, and Obama's. This is about getting him elected. As much as it pains me to say it, the people of this country (for some G-d forsaken reason) still have this notion that the Democrats are better on economic issues, thus the worse the economy, the more apt they are to elect a Democrat to the White House. Obama's poll numbers has climbed since Henry Paulson started his daily freak-outs, have they not?
In a closed-door session with House Republicans, Minority Leader John A. Boehner just called the financial rescue deal a "crap sandwich" - then said he’ll vote for it when it comes to the floor Monday.
House Republicans are the key to the bill's passage - Speaker Nancy Pelosi said earlier today that it's a "bipartisan" bill and will need "bipartisanship" to pass - and it now appears that a substantial number of them will put cast their votes in favor of it.
According to a source in the room, the plan has so far won endorsements from Minority Whip Roy Blunt, who negotiated it on behalf of the House Republicans; Eric Cantor, the chief deputy whip; and Paul Ryan, a hard-core conservative from Wisconsin who may hold more sway with conservatives on this issue than any other member of the House.
But like Boehner, Ryan wasn't exactly happy about how things have unfolded. Referring to the situation facing the country - and not the bill itself - Ryan said, "This sucks."
In fact, it reminds me of this:
1. No ACORN money: All money goes to debt reduction
2. No blank check: Treasury is required to develop an insurance program
3. No union power grab: Dodd-Frank permitted unions to force themselves into the board room. This proposed compromise eliminates that.
4. No "cram down" bankruptcy provision (aka, trial bar giveaway)
5. No tax hikes: The proposed compromise simply requires a proposal to Congress to recoup any potential losses.
UPDATE: Michelle Malkin says not good enough.
Beldar: Sen. Obama treated that bracelet as a mere prop for a piece of political theater - and when he finally received what he recognized as a cue to perform, Sen. Obama still couldn't even deliver his intended line without a prompt.
Don Surber: Well they predicted senility and an inability to remember names at the debate…
RedState: How pathetic and how pitiful a way to remember the fallen.
Debates, however, are almost always meaningless. The best they do is convince those who were supporting a certain candidate that yes, they like him, and yes, the other guy sucks. It's also an opportunity for a candidate to say a line that will be absorbed into the pop culture (see: "There you go again!") After that it just a chance for talking heads to get more air(head) time.
My first gut reaction is that it's a smart move. Whether or not it proves to be a good move politically, I applaud McCain for taking chances. For many months it appeared that McCain was going to go down as the sequel to Bob Dole, then he picked Sarah Palin as his running mate and now he walks the walk with his campaign slogan of putting country first. Obama so far hasn't taken the bait, so it'll be interesting to see how this plays out.
Obama has carried some momentum the past week with the poor financial news. This may be a way for McCain to call a time-out and get a momentum shift. The Bush bill is growing more unpopular by the minute with Congressional Republicans. McCain has a chance to take control of the situation. I just hope he listens to people like Jim DeMint. The Democrats, meanwhile, are scared to death of ending up on the wrong side of the issue with their bete noir President Bush.
So what's next for Millen? My suggestion is a run for Congress. After all, people like Congressman Barney Frank and Senator Chris Dodd helped create this financial crisis we're currently in, but have been assigned little if any blame. They've also been in Congress for longer than many can remember with reelection never in question. Millen thought he had found the perfect setup, a place where incompetence was rewarded, but it turned out that even the Detroit Lions have to draw the line eventually. In Congress, however, there is no punishment for incompetence, only glory. I look forward to the campaign.
Okay, lots to deal with here. First, you can just sense the surprise from the AP headline writer that there are any shortcomings when it comes to government. After all, in the past week we've been hearing how private enterprise in America has failed and government is the only thing that can handle the economy correctly. Second, in this headline, we're talking about the Chinese government. This government, by the fact that it's a dictatorship, does not have "shortcomings." It is, in and of itself, an atrocity. It's like saying Adolph Hitler had an "odd" personality.
No doubt if I presented this argument to the AP they would first deny it and then if pressed say they have to appear nonpartisan in world affairs.
Journalism is dead.
For Obama's campaign staff, dealing with Biden must be something like this:
What a world.
Political correctness won the day. Washington made it clear to banks and other lending institutions that if they did not do something .. and fast .. to bring more minorities and low-income Americans into the world of home ownership there would be a heavy price to pay. Congress set up processes (Research the Community Redevelopment Act) whereby community activist groups and organizers could effectively stop a bank's efforts to grow if that bank didn't make loans to unqualified borrowers. Enter, stage left, the "subprime" mortgage. These lenders knew that a very high percentage of these loans would turn to garbage - but it was a price that had to be paid if the bank was to expand and grow. We should note that among the community groups browbeating banks into making these bad loans was an outfit called ACORN. There is one certain presidential candidate that did a lot of community organizing for ACORN. I won't mention his name so as to avoid politicizing this column.
There's a political root cause to this mess that we ignore at our peril. If we blame the wrong culprits, we'll learn the wrong lessons. And taxpayers will be on the hook for even larger bailouts down the road.
But the government-can-do-no-wrong crowd just doesn't get it. They won't acknowledge the law of unintended consequences from well-meaning, if misguided, acts.
Obama and Democrats on the Hill think even more regulation and more interference in the market will solve the problem their policies helped cause. For now, unarmed by the historic record, conventional wisdom is buying into their blame-business-first rhetoric and bigger-government solutions.
While government arguably has a role in helping low-income folks buy a home, Clinton went overboard by strong-arming lenders with tougher and tougher regulations, which only led to lenders taking on hundreds of billions in subprime bilge.
Market failure? Hardly. Once again, this crisis has government's fingerprints all over it.
To quote the X-Files, "The truth is out there," but I fear not enough people will get to hear it before November 4.
This is really scary.
Nice.As a gesture of solidarity, the Vietnamese who Dohrn met in Budapest presented her with a ring made from an American aircraft shot down over North Vietnam. Bill Ayers would receive a similar ring while meeting with Vietnamese communists in Toronto. He later recalled being so moved by the gesture that he "left the room to cry." He said, "I realized...America was an evil... and that I was... living inside the belly of the beast...."
Hollywood is the home of censorship and it's people like Matt Damon who make it happen.
Then you have Charlie Gibson and ABC. When looking at the MSM, ABC has in the past few years developed a reputation as the least worst of the liberally-biased media (a lot of that is due to Jake Tapper). Charlie Gibson was thought by many as a nice, even-handed guy. Then he gets the Sarah Palin review and decides to act like John Houseman in The Paper Chase. Nice going, Charlie. Whatever inroads ABC was making with the conservatives (who do watch television and vote with their dollars like everyone else) are now gone.
And again, it needs to be said. No one is saying Sarah Palin shouldn't have to face tough questioning, she should, but so should Barack Obama and they both should be treated with respect.
When George starts it up again, I'd advise you to make his site a daily habit.
Then today I saw an Obama ad on TV. It was the simple kind where Obama looked right at the camera and gave his message. It started with him saying "We've heard a lot of talk about change this year." He gives a bunch of empty liberal/socialist platitudes and then ends it with "change has to be more than a slogan."
Actually not a bad ad when you think about it as he took to task the candidate that's been going on and on about hope and change without any substance behind it...except that candidate is himself!
McCain gets emotional at the mention of military families needing food stamps or veterans lacking health care. The outrage comes from inside: McCain's severe war injuries prevent him from combing his hair, typing on a keyboard, or tying his shoes. Friends marvel at McCain's encyclopedic knowledge of sports. He's an avid fan - Ted Williams is his hero - but he can't raise his arm above his shoulder to throw a baseball.
This is bordering on incompetence.
New Jersey's Star-Ledger today put out an entire edition without anything from the Associated Press within. The sharp-eyed reader will notice lots of local news by staff plus articles from other papers-Washington Post, LA Times, McClatchy, the Glouceseter County Times-and content from online services such as Sportsticker.
Professor Hawking once placed a $100 bet that the particle does not exist and continues to argue that there are more interesting outcomes to be drawn from the LHC than the discovery of the Higgs boson.
Professor Higgs, who first postulated the existence of the particle 44 years ago, reacted with visible irritation. "I have to confess I haven't read the paper in which Stephen Hawking makes this claim," he said. "But I have read one he wrote, which I think is the basis for the kind of calculation he does. And frankly I don’t think the way he does it is good enough.
"My understanding is he puts together theories in particle physics with gravity . . . in a way which no theoretical particle physicist would believe is the correct theory.
"From a particle physics, quantum theory point of view, you have to put a lot more than just gravity into the theory to have a consistent theory and I don't think Stephen has done that. I am very doubtful about his calculations." Other members of the panel moved swiftly to cut off the discussion, suggesting that he had taken Professor Hawking's views out of context.
It appears science is not devoid of emotion after all. Higgs also stated that the fear that the super collider will create a black hole that swallows us up is nonsense. Whew!
Interesting too about Hawking, while he is an international celebrity it has more to do with the fact that he's handicapped and a genius. Most physicist consider him and his theories to be second-rate at best. Pop culture is so often misleading.
Now as to Biden getting dropped and Hillary asked to join, there are several options to consider, but one is the most likely. Hillary, while an authoritarian and wrong on many, many issue, is not a stupid person. She understands the political game and is a cold calculator. The best option for her, if such an opportunity were to arise would be to tell Obama no, let him go down to defeat and pick up the pieces in 2012 using the campaign slogan, "See, I Told You So!" (with apologies to Rush Limbaugh). I don't know that it'll come to that. This is getting to be too much like a made for TV movie, but if by some chance it does, my guess is Hillary plays it cool and tells Obama he's on his own.
Meanwhile, someone who by now should know better, Joe Biden, asked a man in a wheelchair to stand up. Innocent mistake, but in the political arena it's damaging. Captain Ed points out the urban legend that President Bush waved to a blind Stevie Wonder (when in fact he was waving at Kelsey Grammar). You gotta be careful.
In other news, a whopping 99% of students polled say they would like school better if there was no homework.
Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.
Okay, so if a tax increase would hurt the economy why do it at all? This has a McCain campaign commercial written all over it.
It's funny how popularity works. I understand that Brady is possibly the best player in football and I'm bummed to see him hurt, but to watch the postgame shows today, it was like a funeral. Ah, to be loved.
I guess I've got to watch Meet the Press today. From a reader:
I just saw Thomas Friedman on Meet the Press, saying how great it would be for the US to "be China for a day" so that the President of the US could freely impose whatever energy policy he (or she!) wishes. Clearly, you need to send Thomas Friedman a copy of Liberal Fascism.
Keep up the good work.
WTF??? If I were his editor... How can anyone who calls himself a journalist, who is protected by the First Amendment suggest a temporary tyranny for his own country? Journalism is dead folks, pass it on.
The latest, courtesy of our good friends at Odd Universe, a Texas woman finds the Virgin Mary on a green grape. You just have to love the absurdities of life.
It never ceases to amaze me how the Left falls again and again into the old trap of underestimating politicians whom they don't understand. From Ronald Reagan and Margaret Thatcher to George Bush and Mrs Palin, they do it every time. Because these characters talk a bit funny and have ridiculously antiquated views about faith, family and nation, because they haven't spent time bending the knee to the intellectual metropolitan elites, they can't be taken seriously.
So the general expectation was that Mrs Palin would stumble on to the stage in high heels, clutching her sprawling, slightly odd family (five children! how weird), mispronounce the name of the Russian Prime Minister, mutter a few platitudes about God, and disappear for ever to a deafening chorus of sniggers.No one paid much attention to the fact that she had been elected governor of a state. Or that she got to that office not because, unlike some politicians I could mention, her husband had been there before her, or because she bleated continuously about glass ceilings, but by challenging the entrenched interests in her own party and beating them. In almost two years as Governor she has cleaned out the Augean stables of Alaskan Government. You don't win a statewide election and enjoy approval ratings of more than 80 per cent without real political talent.
I noticed they played Heart's "Barracuda" during the balloon drop. Interesting.
On to the debates!
She's a beautiful woman and a strong woman. She seemed just a touch overwhelmed at the beginning, but I think that was emotion. She started the speech going through the family stuff as every candidate has to do...
...then she took off.
My favorite line was how she would explain to Obama/Biden exactly what being a Mayor/Governor entails. It was at that moment that we got the Sarah Palin Look (trademark pending). It's a look that says, "I'm gonna kick your ass!"
After this she started to loosen up. When talking about energy she really seemed to be in her element. McCain needs to use her for that in a big way.
Then it was standup comedy as she slammed Obama's bravado from his Greek temple to his self-proclaimed Moses-like qualities, not to mention a shot at Harry Reid's manhood. Can you say "barracuda?"
Bottom line: I like her, I feel better, and I think she may just have what it takes. Stay tuned.
MORE: A brilliant take from Daniel Henninger:
Hillary Clinton still plays the victim card. Sarah Palin gives off no victim vibes.
Just the fact that I'm talking about this shows the power of the MSM. They do whatever they can to make us think in a certain way, and unfortunately, we fall for it all too often. I don't see Sarah Palin dropping out, there's no reason for it and she's got millions on her side.
The GOP and the MSM are now in an all out war. Who is going to win?
Ole Fred might have had a better chance at the Presidency if his throat were in better shape, but what can you do? I hope he keeps working behind the scenes with the GOP and if McCain wins, he can hopefully help him find another John Roberts.
G-d has some oration competition in Heaven.
We've got the stories of the state trooper investigation, her daughter's pregnancy and all that. The MSM wants us to believe that will affect the voters, it won't. What everything is riding on now is how she will handle herself in her speech tomorrow and her debate with Biden. The media has tried to set her up as someone who will crack under the pressure, but if she weathers the storm, it may be over for Obama. It's the last question to be answered before November.
A TNR spoke to a source in Alaska who says that people underestimate Palin at their peril. Anyone who takes on the Murkowski Machine and defeats them in a route is not to be taken lightly.
Now this may be McCain spin, but here's what an aide told Bill Kristol: (Hat tip: Hot Air)
McCain aides whose judgment I trust are impressed by Sarah Palin. One was particularly amused by this exchange: A nervous young McCain staffer took it upon himself to explain to Palin the facts of life in a national campaign, the intense scrutiny she'd be under from the media, the viciousness of the assault that she'd be facing, etc.:
Palin: "Thanks for the warning. By the way, do you know what they say the difference is between a hockey mom and a Pit Bull?"McCain aide: "No, Governor."Palin: "A hockey mom wears lipstick."
I hope that's true, and it's what I mean when I say it's down to her. If she is as tough as she says, the GOP will be celebrating come election day.
No observable sunspots in the month of August correlates to a paper by two astronomers refused in 2005 by the journal Science for being too controversial. And is a possible signal of an Ice Age on the way. Not global warming!
The opinions and experiments as noted above are still subject to interpretation, the one incontrovertible fact though is that the climate is far too complex at this point in time to be considered easily predictable. That is the essence of my argument against the concept of the global warming proponents who are seemingly in possession of a second set of Tablets from The Mount on which the Goracle has pronounced the existence of, and the inevitability of global warming due to the excesses of mankind, while he (Al Gore) travels the world in his private jet.
Hey now Gar, that's dangerous thinking. The kind of thinking that could get you a small apartment in The Hague.
If McCain wins, look for a full-fledged race and class war, fueled by a deflated and depressed country, soaring crime, homelessness - and hopelessness!
"My understanding is that Gov. Palin's town, Wassilla, has I think 50 employees. We've got 2500 in this campaign. I think their budget is maybe 12 million dollars a year - we have a budget of about three times that just for the month," Obama responded.
He's qualified to be president because he's been running for president? Pathetic.
Nevertheless, Iraq does seem to be the rare case when victory is an orphan. Perhaps that is because so many American politicians denied parentage that there is nobody left to give the actual parents any credit.
First, you have a diarist at Daily Kos speculate that Sarah Palin's son Trig, who has Down's syndrome is in fact her grandchild and the baby was born to her daughter Bristol in one of those famous American teenage pregnancies. In an effort to cover for her daughter, Kos accuses Palin of faking her pregnancy. They use pictures of Bristol Palin with a bit of a tummy as their proof.
Well, as it turns out Bristol is pregnant, as we speak. She got pregnant with her boyfriend who she will soon marry and have the child. Naturally, this makes the left-wing bloggers happy while the rest of us say, okay, so what?
Now we've entered the realm where truth is no longer a factor. The story has received enough attention from the MSM that the idea of the faked pregnancy is now a part of pop culture. For the rest of Sarah Palin's life, people will always wonder if Trig is her son or grandson and it will always be quipped about by her political enemies.
The plus side for Sarah Palin in this is that it's not the worst thing one can be suspected of. What mother wouldn't be willing to do this for her child, some will say. It's out there, it can't be undone. That's the way of urban legends.
For me, it doesn't change a damn thing. I couldn't care less that her daughter is pregnant. Family matter. But I'll tell you this, there's not way the Kos diarist just got lucky. Obama's prints are all over this one.
MORE: Yes, Bristol being pregnant now makes it impossible that she is Trig's mother, but you're letting truth get in the way my dear reader. That's the point of my post. Truth doesn't matter when you're creating an urban legend. The Left knows this.