Posted on October 3rd, 2008 by Dr. Bruce
The $700B bailout contains is now over $800B. Why? It contains BILLIONS of dollars in pork-barrel spending. About $112B to be more exact.
Lawmakers from both sides of the aisle are out of control on this. This entire problem could have been handled by the FED and market forces. It did not have to be lubricated with 16% pork.
America will become a debtor nation at this rate.
Here are some predictions for you to tuck in your electronic back pocket. Read more... (estimated 40 secs)
- Credit market problems will require more than just an injection of funds to become fully functional again.
This is a preview of
Christmas in October
.
Read the full post (estimated 40 secs)
1 Comment »
Filed under: Economy, subprime
Posted on October 2nd, 2008 by Dr. Bruce
The Democrats have been denying that they are the primary cause of the Fannie and Freddie fiascos. Even Bill Clinton admits that there needed to be greater regulatory controls and key Dems consistently fought against them. Listen to Cal Thomas:
When Speaker Nancy Pelosi took to the floor of the House on Monday to blame Republicans for the financial turmoil and charge them with a laissez-fare attitude toward regulation, it seemed like a calculated effort to shift attention and accountability from what Democrats have done to create the current conditions. Fortunately, we have YouTube. Read more... (estimated 56 secs)
1 Comment »
Filed under: Democrats, Economy, subprime
Posted on September 30th, 2008 by Dr. Bruce
Why did 94 Democrats vote against the bailout? Take a look at Bill Dyer’s analysis:
I thought it was bad enough that House Speaker Nancy Pelosi had made a deliberate decision not to make today’s vote on the Democrat’s economic stabilization bill a “party loyalty” vote in which the House Democratic leadership made absolutely clear that it expected loyal Democrats to vote in favor of the bill. Ignoring all of the immense power to persuade that inheres in the position of Speaker of the House, Speaker Pelosi wouldn’t even offer (or threaten to withhold) so much as a choice Capitol parking spot to make up the 12-vote margin between victory and defeat of H.R. 3997, the Emergency Economic Stabilization Act of 2008. Read more... (estimated 1:06 mins)
This is a preview of
Pelosi Allows Dems To Vote No
.
Read the full post (estimated 1:06 mins)
1 Comment »
Filed under: Democrats, Economy, Obama
Posted on September 30th, 2008 by Dr. Bruce
If Congress is trying to find ways to fund a bailout, perhaps they should start with the Omnibus Spending Bill.
Senate leaders wringing their hands over where to find $700 billion for the Wall Street bailout might start with the fine print of the omnibus bill: The measure includes more than $6.6 billion in pork-barrel spending.
The 2,000-plus earmarks fill 752 pages attached to the 357-page spending bill. Sen. Ted Stevens, notorious for his huge earmark requests, scored the largest haul—some $238.5 million in earmarks. Read more... (estimated 48 secs)
This is a preview of
The Pork Goes On
.
Read the full post (estimated 48 secs)
No Comments »
Filed under: Economy
Posted on September 29th, 2008 by Dr. Bruce
Popularity: 1% [?]
No Comments »
Filed under: Economy, Humor
Posted on September 29th, 2008 by Dr. Bruce
The bailout was killed by House Democrats. Yes, Democrats. Losing by a margin of 228-205, the measure only needed 12 members to change their minds.
95 Democrats voted against the bill.
Quit blaming John McCain for failure to keep your majority, in the majority.
Take a look at these articles -
Bill Dyer at Townhall – Elections have Consequences
Hugh Hewitt – Duplicity and Cynicism
Michelle – The Crap Sandwich
Hot Air – Bailout Bill Fails After Pelosi Speech
Popularity: 1% [?]
2 Comments »
Filed under: Democrats, Economy, politics
Posted on September 29th, 2008 by Dr. Bruce
How did the Treasury Department arrive at a figure of $700 billion for the bailout? Surely it was based on careful analysis and a detailed methodology.
Nope. They guessed. They just pulled a number out of thin air. They made it up.
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.
“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.” Read more... (estimated 35 secs)
This is a preview of
How did they decide on $700B?
.
Read the full post (estimated 35 secs)
No Comments »
Filed under: Economy, politics
Posted on September 25th, 2008 by Dr. Bruce
I wrote a lengthy post on this top yesterday but Investor’s Business Daily has expanded and improved on my material.
Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it’s dysfunctional, Democrats during the Clinton years are a prime reason for it…
[I]t was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions. Read more... (estimated 1:26 mins)
This is a preview of
The Real Culprits In This Meltdown
.
Read the full post (estimated 1:26 mins)
3 Comments »
Filed under: Democrats, Economy, Obama
Posted on September 24th, 2008 by Dr. Bruce
After days of moaning and blaming, perhaps a few facts should be inserted into the discussion about the current financial melt-down.
Barack Obama blames John McCain and Republicans for the mess. Why? According to Obama, Conservatives have been advocating de-regulation and free market controls and this de-regulation produced the current fiasco. Sounds great to liberals. Must be true. Read more... (estimated 2:27 mins)
This is a preview of
The Democrats Did It
.
Read the full post (estimated 2:27 mins)
3 Comments »
Filed under: Clinton, Democrats, Economy, McCain, Obama, politics
Posted on September 23rd, 2008 by Dr. Bruce
Give Matt Lauer at ‘Thumbs Up’ on this one. He catches Obama in a clear double-standard and Obama ducks for cover.
Lauer was talking about how Obama hit Sen. McCain for flip-flopping on the AIG bailout — saying he opposed it one day then announce he supported it the next day.
But, as Lauer pointed out, scarcely three minutes after McCain said he opposed the AIG bailout last week, “in an interview with Meredith Vieira, Joe Biden, your running mate was asked the exact same question, ‘should the federal government bailout AIG?’ And he said, ‘No, the federal government should not bailout AIG.’” (As we noted at the time.) “And I think that in that situation,” Obama said, “I think Joe should have waited as well.” Read more... (estimated 44 secs)
This is a preview of
Obama Flip-Flop
.
Read the full post (estimated 44 secs)
No Comments »
Filed under: 9/11, Economy, Humor, Obama, politics
The $700B bailout contains is now over $800B. Why? It contains BILLIONS of dollars in pork-barrel spending. About $112B to be more exact.
