DISQUS

AMERICAblog: Did Senator Schumer cause a bank failure? Uh, no.

  • DCinDC · 1 year ago
    Clinton: GOP Should Apologize to America

    "Our president goes to Japan four months before the election that will finally show him the door and says he's going to take global warming seriously," Clinton said. "Then as he's leaving the G-8 conference, says to people around him, 'Goodbye from the biggest polluter world in the world.' You've got to ask yourself, how did this happen to our country?"

    Clinton said the last eight years had many "highlights."

    "A vice-president who shoots somebody in the face, you couldn't make that up," Clinton said to laughter.

    She added, "the Republicans should hold a press conference and apologize to the country and say they're just not going to run anyone for president."

    http://blog.washingtonpost.com/the-trail/2008/0...


    The GOP and its media cheerleaders are amazing. The GOP will blame anyone except their own leaders for the terrible direction the United States is headed toward.

    Clinton is right about this. The GOP should admitt their mistakes and apologize to the voters.
  • Bush_Bites · 1 year ago
    Good for Hillary.

    It's about time she started attacking Repubs again.
  • HelenaMontana · 1 year ago
    I doubt Republicans are ever going to accept responsibility for their failures, but I did see something in WaPo this morning that made me rub my eyes and look again--an editorial critical of McSame. Headline is "McCain Math: A budget-balancing plan that won't work." Here's the link, in case anybody wishes to witness history in the making. http://tinyurl.com/5lrp7t
  • cab02149 · 1 year ago
    They make reality, they do not deal with it. Did you forget?

    For every 10 Kudlows read one William Engdahl.
  • crianp · 1 year ago
    I believe it's all part of the the GOP pre-election logic, keep denying responsiblity for the problems at hand and hopefully the republican base will just blame the democrats.
  • ClayPotts · 1 year ago
    The overwhelmingly damning evidence of Republican failures is right before America's eyes. Those who continue to walk blindly in the ditch choose to do so.
  • Indigo · 1 year ago
    Being a Republican means never having to say you're sorry.
  • OlderAndWiser · 1 year ago
    It appears the Neocon takeover of the govt is complete. Late last night (in the mode of "rescuring" Bear Stearns), former Goldman Sachs CEO and current Treasury Secretary Henry Paulson and head of the Fed, Ben Bernanke, ivory tower academic and tool of George Bush, ensured that printing more money and turning over Treasury bonds to Fannie Mae and Freddie Mac for further capitalization will save those two companies and their wealthy shareholders. However, I didn't hear anything about examining their books and placing blame where it's deserved--on those businesses themselves.

    Although federally chartered, both are private companies, owned by shareholders (and you can imagine who they are).

    Since they didn't present any well-documented reasons, or any particularized plans for this bailout of the two $5 trillion dollar businesses which holds at least 50% of all mortgages, it will be hard to imagine that foreign countries might not start calling in their Federal Treasury notes.

    Any way you slice it, disaster is approaching and it's not hard to imagine the US government being in bankruptcy very soon. I expect more runs on banks, a la IndyMac which was taken over by the FDIC last week.
  • Õ¿Õ · 1 year ago
    I'm going to make a run on my bank as soon as they open.
  • Õ¿Õ · 1 year ago
    Reality has finally started tapping on the wingnut's shoulders. They can't deny it much longer. They can try to blame but it wont work. Most Americans see through all their tricks now. Can't wait for November to get here.

    Wingnuts, you'll never win another national or even local election if you don't stop with the warmongering, thievery, lying and hypocrisy.
  • ron071 · 1 year ago
    How, if" most Americans see through all their tricks now" can one explain the latest Newsweek poll numbers showing a 3 percent spread of Obama over McSame? Is the poll seriously in error or are the tricks still in play?
  • Bostonian_Queer_in_Dallas · 1 year ago
    The GOP will never be held accountable for anything.

    This is a nation of twelve year olds obsessed with "Dancing with the Stars", homos getting married, and whether or not Anna Nicole Smith and Elvis are still dead.

    The Great American Century ended on 12/31/1999. Our Sunday school picnic is over.
  • Õ¿Õ · 1 year ago
    Man, I would feel like such a loser if I was a wingnut right now. Started a quagmire that got millions killed and put the US economy into a depression for the greedy rat bastards and all they got for their rabid support was a GOP tote bag. I guess they can use that when they're jobless and on the street. LOL
  • OlderAndWiser · 1 year ago
    Just like ignorant Rethugs to call CSPAN and blame "individual" mortgage holders for this incredible failure of the financial industry.

    I have absolutely NO sympathy for greedhead investors who peddled this shit to the American public. Blaming individuals for the "education" they got from all sectors of the mortgage, real estate and other markets who lied, cheated and stole in this whole fiasco is just insane.

    And it's not just those "subprime" mortgages that are being affected, even holders of standard mortgages are being hit by this thing--with all the layoffs, lack of decent paying jobs, high medical costs, etc., there are no alternatives for them; even bankruptcy filing doesn't work any more.

    The American public has been screwed to the wall by "laissez faire" capitalism and the total greed it engenders. They haven't rested in stripping us of any assets we might have held (and for most Americans, it's their house).
  • OlderAndWiser · 1 year ago
    My checking account for years was with a solidly capitalized regional bank in this area. It was recently bought by Fifth Third of Ohio, which has been in the financials as being threatened by the financials bust, with accounts from the former bank being hit with various fees they didn't have before. Consequently, I no longer have my SS direct deposited, and only put in enough to pay for my ISP, paying 2 insurance premiums by money order.

    The less I lose in this bank, the better. And it will be under $100, no matter what. At some point, will the FDIC be able to guarantee every depositor's money for accounts under $100K when they start to collapse like dominoes?
  • Õ¿Õ · 1 year ago
    That's what I was thinking. I don't have a hundred thousand but I'm getting what I have out. I've got a big fire proof safe to put it in. Gah, never thought I would be thinking like this.
  • OlderAndWiser · 1 year ago
  • Õ¿Õ · 1 year ago
    I had one customer during my work week come in and he only picked up one item that had already been pre-pulled by another shift. So I did nothing whatsoever. Just sat around in my white t-shirt like I was at the house. Right before my boss shows up I do put on a shit over it. Can't beat a white t-shirt for comfort.
  • Õ¿Õ · 1 year ago
    I actually get startled now when someone walks in. I'm like, WHAT THE... Then I try to quickly get back to focusing that I'm actually at work but it take about 30 seconds.
  • A_N · 1 year ago
    GG, I dunno what kind of sales job you have, but if you only get one customer per week; I'd guess that the business isn't going to exist for much longer.
  • Õ¿Õ · 1 year ago
    LOL Just realized I misspelled a word. Misspelling crack me up sometimes, even my own. Gah, that's funny. I think that's part of the fun of it all.
  • hardeknox · 1 year ago
    Kudlow's Attila the Hun's brother-in-law. Is that conservative enough for ya?
  • OlderAndWiser · 1 year ago
    Are these bailouts of financials more for protection in all the lawsuits being filed against them rather than boosting capitalization? Are the Fed and Treasury protecting felons?

    http://www.globalresearch.ca/index.php?context=...

    (Sorry, can't seem to get the link to work right.)
  • Bush_Bites · 1 year ago
    McCain's chief advisor, Phil Gramm, is most responsible for the banking crisis:

    The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. L. No. 106-102, 113 Stat. 1338 (November 12, 1999), is an Act of the United States Congress which repealed the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.

    Several economists and analysts have criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.[6][7] The 1933 Glass-Steagall Act separated commercial and investment banking after excessive risk- taking contributed to the Great Depression.
  • Teddi · 1 year ago
    http://www.idahostatesman.com/eyepiece/story/44..., check out this article in our morning paper about the UBS auction securities....our little red state of Idaho still can't fathom it's GOP policiies that have them in this mess..
  • Bush_Bites · 1 year ago
    Republicans just don't pay their f*cking bills.

    Never seen a bigger group of shysters and crooks in my life.
  • jr · 1 year ago
    CNBC is just as bad as Fox. I wish Robert Greenwald would go after them
  • ron071 · 1 year ago
    Once again we read about some of the usual nonsense coming from Larry Kudlow. Why are people like Kudlow even quoted when he has been so wrong for so long?
  • makemoneyschumer · 1 year ago
    New York Times reported that hedge fund managers have a new champion in their effort to keep legally dodging the taxes the rest of us pay: none other than New York Senator Charles Schumer. Now you know who is Schumer's friend and why he caused the bank run on Indymac. He truly support hedge fund and private equity because they truly support him.

    http://www.nytimes.com/2007/07/30/washington/30...

    "Large Investor decided to pay a few bucks to a Senator in New York to force the issue."(Prospect Mortgage Backed By Sterling Fund--Private Equity Acquired The Mortgage Branches from Indymac before FDIC takeover)
    http://www.housingwire.com/2008/07/03/regulator...

    "And do remember that there are many investment bankers located in New York, making them pretty influential constituents of Sen. Schumer."
    http://www.pasadenastarnews.com/opinions/ci_978...

    "In a Sunday news conference, he said everything in his letter was already known to the public."
    If it was already known to the public, what is the reason for his public letter? It is contradict to what he said previouly :"I just bring private message to the public. Do not kill the messanger." What a great liar from time to time!
    http://www.cnn.com/2008/POLITICS/07/13/indymac....