Mark Levin writing in National Review Online’s Conner Blog: I have read the posts here and elsewhere. Sometimes these things are made to look more complicated than they really are. From an economic perspective, if the problem is liquidity and credit, there simply is no need for the federal government to assume massive amounts of debt […]
Archives for September 2008
The New York Sun
What a run… One of last true newspapers in America, the New York Sun, is closing it’s doors today. I’ve been a reader and a fan of the Sun from the start… Over the last 6 and half years it’s front page has carried everything from photographs of works of art to exposes on corruption […]
Crash & Burn: $700 Billion “Crap Sandwich” Goes Down In Flames!
Whoa… I was expecting a close vote on bailout bill but this is a complete shock. The bailout bill has crashed and burned in the House. The vote was 228 nay to 205 yea with 1 not voting. Democrats supported the bill 140-95, while Republicans opposed it 65-133. Is this the reason? Nancy Pelosi’s floor […]
The Good, The Bad and The Ugly…
The Good (H/T: MM): Congressman Jeb Hensarling (R-TX), Chairman of the House Republican Study Committee, today issued the following statement on the agreement reached by House and Senate negotiators on the Paulson plan, and his intentions on the final bill: “My top responsibility as an elected official is to protect the families and people who […]
Bailout Deal Reached?
The Wall Street Journal is reporting that lawmakers reached a tentative bailout deal overnight: Top U.S. policy makers emerged from hours of tense negotiations with a clear message just after midnight Sunday morning: A deal to bailout U.S. financial markets has been agreed on and all that remains to be done is to commit the […]
Video: In Their Own Words…
Poll Question: Who Won The First Debate
[poll id=”5″] Overall I thought McCain won on points… Although it was closer than it should have been. McCain clearly won on foreign policy but on the economy it was at best a draw. McCain needs to drop the populist rhetoric and stand up for conservative economic principles… In particular he needs to hit Obama […]
Video: Burning Down The House: What Caused Our Economic Crisis?
This video has been floating around the web for a couple of days… It provides a detailed look at how the Community Reinvestment Act was used to push banks into sub-prime mortgages and how that distorted the housing market… And helped create the bubble that burst. A couple of caveats though… First it lays the […]
Crash & Burn: Harry Reid’s $56 Billion Stimulus/Oil Shale Ban Bill Augers In.
Reuters is reporting that Harry Reid’s $56.2 Billion economic stimulus/oil shale ban bill has failed in the Senate: WASHINGTON (Reuters) – The Senate on Friday blocked a $56.2 billion economic stimulus package that would have extended unemployment benefits, increased food aid and funded new construction projects to create jobs. The 52-42 vote fell short of […]
Back on the Trail…
Statement from the McCain Campaign on negotiations (H/T: Rich Lowry): John McCain’s decision to suspend his campaign was made in the hopes that politics could be set aside to address our economic crisis. In response, Americans saw a familiar spectacle in Washington. At a moment of crisis that threatened the economic security of American families, […]
Bailing on the Bailout?
It looks like the bailout deal, if there ever was one, is collapsing… Democrats and Paulson are whining. ABC News’ George Stephanopoulos Reports: Treasury Secretary Henry Paulson fears the Wall Street bailout deal is falling apart after a chaotic White House meeting, sources say. Paulson walked into the room where Democrats were caucusing after today’s […]
Poll Question: Should John McCain and Barack Obama participate in the first Presidential Debate as scheduled?
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Newsflash: Wall Street Journal Reporting Agreement in Principle Is Reached on $700 Billion Bailout
From the Wall Street Journal: Congress reached an agreement in principle on a $700 billion package to bail out the financial industry, leaders from both parties said Thursday. They plan to present the deal to the White House later Thursday, hoping for a vote within days. Lawmakers said there were few hurdles remaining. “There really […]
Harry Reid Trying To Sneak Oil Shale Ban Back Into Legislation
Senator Jim DeMint’s office reports that Senate Majority Leader Harry Reid is trying to sneak an extension of the oil shale ban into legislation under cover of the bailout frenzy. Sec 1602 continues ban on oil shale. The language follows: SEC. 1602. Notwithstanding any other provision of law, including section 152 of division A of […]
A Failure of Leadership
What I said yesterday about McCain and leadership… Scratch that. My first reaction to John McCain’s announcement that he was suspending his campaign and returning Washington to help craft a financial bailout plan was positive. I though it was bold move that could pay huge dividends down the road. This morning, after rolling it around […]