My friend David has a wonderful post this morning. He points out the fundamental need to trust Christ during the storms of life. It is significant to me that for many, the primary storm they recognize is financial.
“The Storm on the Sea of Galilee” c 1633, by Rembrandt van Rijn.
No Comments »
Filed under: Christianity
We just loaned them $85 Billion. But that wasn’t enough.
Everyone. Together now. “I told you so!”
The Federal Reserve announced Wednesday it was lending billions of additional funds to cash-strapped American International Group Inc.
Under the program, the New York Federal Reserve Bank will provide $37.8 billion in additional cash to certain domestic life insurance subsidiaries of AIG in return for investment-grade, fixed-income securities.
AIG already has an $85 billion line of credit with the Fed. As of last week, AIG had used $60 billion of this loan, according to Fed data.
1 Comment »
Filed under: Economy, politics, subprime
It looks like Waxman and the Democrats are trying to downplay their role in the subprime debacle. It is time for all the cards to be placed on the table and let the chips fall where they may. Democrats, Republicans, insiders, outsiders. Whatever!
Whoever is as fault for this should be prosecuted and publically, and pilitcally, humiliated. This is the greatest economic crisis since the Great Depression and our politicians are doing what they do best. Play politics.
No Comments »
Filed under: politics, subprime
Hot Air has a wonderful take on Barney Frank. He is such an endless supply of inane stupidity.
Barney Frank’s latest defense of Congress over the financial meltdown could be predicted based on the success of Barack Obama’s campaign in using the same defense. According to Rep. Frank, any attempt to pin the blame for the collapse of Fannie Mae and Freddie Mac on the activities of both, as well as Congressional policy that fueled it, is now officially racist. Frank says conservatives want to blame minorities for the collapse:
1 Comment »
Filed under: Racism, subprime
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.
1 Comment »
Filed under: Democrats, Economy, subprime
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.
1 Comment »
Filed under: Democrats, Economy, Obama
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
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.”
No Comments »
Filed under: Economy, politics
