Jeffrey A. Setaro

Political & Cultural Commentary from a Constitutional Conservative.

Politics

Crap Sandwich 2.0 Passes The House 263-171

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The Wall Street Journal has the details: WASHINGTON — U.S. House of Representatives lawmakers wary of growing signs of the nation’s economic distress voted Friday in favor of a $700 billion Wall Street rescue package, sending the biggest government intervention in the financial markets since the Great Depression to President George W. Bush for his […]

Poll Question: Who Won The Vice Presidential Debate?

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[poll id=”6″] On points I’d score it as a narrow win for Gov. Palin, overall on style and substance it was a landslide… She wiped the floor with both Senator Biden and moderator Gwen Ifill. Best line: “I may not answer the questions the way that the moderator or the Senator may want me to […]

In Their Own Words: What They Said About Fannie & Freddie

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The Wall Street Journal has a long history over covering the abuses of Fannie Mae and Freddie Mac today  they’re naming names and calling out the Democrats who helped cause our financial crisis. House Financial Services Committee hearing, Sept. 25, 2003: Rep. Gregory Meeks, (D., N.Y.): . . . I am just pissed off at […]

Senate Passes Crap Sandwich 2.0 74-25

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From the Wall Street Journal: Senate Passes Bailout Package House Passage Remains Less Certain WASHINGTON — The Senate’s revamped bailout package drew support from 74 lawmakers in a roll call vote Wednesday evening, and the measure will now return to the balky House of Representatives for another vote following its unexpected rejection on Monday. U.S. […]

Flamethrower: Thaddeus McCotter

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It’s pure unadulterated demagoguery but it’s still a hell of speech! With all due respect Congressman Wall Street didn’t cause this problem… They played their part but it was Congress and government regulators who, in the name of affordable housing, compelled banks to write these risky sub-prime loans. It was Congress who created Fannie Mae […]

Mark Levin: Thank You, House Republicans

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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 […]

The Good, The Bad and The Ugly…

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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?

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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 […]

Poll Question: Who Won The First Debate

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[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?

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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 […]