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)
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How did they decide on $700B?
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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)
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The Real Culprits In This Meltdown
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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)
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The Democrats Did It
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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)
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Obama Flip-Flop
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Filed under: 9/11, Economy, Humor, Obama, politics
Posted on September 22nd, 2008 by Dr. Bruce
What do Chris Dodd, Barney Frank, Jim Johnson, Franklin Raines and Tim Howard have in common (besides being engineers on the Barack Obama Election Express)? I try not to just scrape the content of other sites but Mcauleys World has a great article with info that is essential for everyone to know.
Five Key Players In Washington who had chances to prevent the Financial Crisis but who, by their actions or inactions helped to bring down Wall Street.
Senator Christopher Dodd
Democrat from Connecticut. Dodd has been in the Senate for 28 years. Dodd has served as Chairman of the Democratic National Committee. Dodd is Chairman of the Senate Banking Committee. As Chairman he had responsibility for acting as a “watch-dog” of Fannie Mae and Freddie Mac. Dodd has responsibilty for assisting in the selection of the CEO’s who run Fannie Mae and Freddie Mac. Dodd was a leading contender to be Obama’s Vice Presidential selection until his receipt of VIP loans from Countywide Financial were disclosed.
It has been reported that Dodd received $7,000,000 in loans from Countywide. Dodd’s Committee was responsible for overseeing Banks in the United States. Countrywide is one of the leading culprits responsible for the lending policies that brought on this Crisis. Countrywide is under FBI investigation for securities fraud. The Government Watchdog Group, The Center For Responsive Politics, reports that Senator Dodd received more campaign contributions from Fannie Mae and Freddie Mac than any other Senator.
Popularity: 8% [?] Read more... (estimated 6:35 mins)
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Fannie Mae Five – Five Key Players Who Broke The System
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Filed under: 9/11, Economy, Obama, politics, Terrorism
Posted on September 22nd, 2008 by Dr. Bruce
Speaking in Ceder Rapids, John McCain finally said what the MSM should have been saying; Barack Obama and the Democrats are largely to blame for our financial crisis. Obama wants to blame others but the fact is Obama did nothing to head off the coming crisis when he had the chance. McCain said, Read more... (estimated 53 secs)
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McCain Slaps Obama on the Fannie
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Filed under: Economy, politics
Posted on September 19th, 2008 by Dr. Bruce
Michael Reagan has a fabulous article on the financial crisis we have been reading about this week. Who is at fault? Who should get the blame?
Pin the tail on the Donkeys.
Bill Clinton and Democrats made the policies. Democrats did the consulting. Democrats accepted the contributions. And now Democrats will get off scott-free. Reagan points out that,
“ Read more... (estimated 1:26 mins)
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Pin the Tail on the Donkey
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Filed under: Democrats, Economy, politics
Posted on September 19th, 2008 by Dr. Bruce
The Federal Government is going to bailout AIG and Fannie/Freddie. This is nightmare. Is this even legal? President Bush, McCain, Obama, Senators, Representatives have all lost their minds!
It is important to understand exactly what is happening. The government is using your money to buy the bad assets of various companies. Yes, they are calling it a loan. No, the loans will never be repaid because the underlying assets are not worth anything. How do I know? If they were worth anything the company would not be in trouble in the first place! Read more... (estimated 1:18 mins)
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They Have Lost Their Minds!
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Filed under: Democracy, Economy
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.
