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Deutsche Bank: Do Republicans want to risk economy to win elections?
Deutsche Bank Political Analyst | 9/26/08 | Frank Kelly

Posted on 09/26/2008 5:52:37 AM PDT by Thane_Banquo

Do the Republicans want to risk the US Economy to win the elections? It seems like. The problem also is that some Republicans are receiving calls from constituents against the bailout at a 125:1 ratio, just 5 weeks before a contested election! Need 100 House Rep votes out of 199, 60-70 were in-line but after rebellion only 30-40 available as Bush apparently angered a number of Republicans. It will ONLY pass with NEW provisions, but Frank still sees it getting done in some form before Monday. Also, this situation could see Dem's with an even bigger House majority. Attached GOP 10 point piece against the plan.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bailout; propagandawingofdnc
This came across my Bloomberg this AM. More extortion from Wall Street: "You're going to lose your job and your house if you don't give us $700 billion so we can pay for our Ferraris and Manhattan penthouses."
1 posted on 09/26/2008 5:52:37 AM PDT by Thane_Banquo
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To: Thane_Banquo
I say they can go to hell. They're asking me to bail them out? What a laugh! When I wanted a loan for income property earlier this year, they wouldn't give me the time of day. All of a sudden, they need me? Screw 'em!

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

2 posted on 09/26/2008 5:55:19 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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CNBC is saying that, according to the GOP, the Dems have the votes to pass this on their own. It seems the Dems don’t want to be on the hook politically for the whole thing.

So actually it seems the Dems are the ones playing politics.


3 posted on 09/26/2008 5:55:59 AM PDT by Crimson Elephant
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To: Thane_Banquo

thats ridiculous, remember the convention wisdom, bad economy is a win for democrats, so why would the republicans purpose risk economy to lose election


4 posted on 09/26/2008 5:56:06 AM PDT by 4rcane
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To: Thane_Banquo

So these bozos can make bad decision after bad decision, put the economy on the precipice of disaster, and EXPECT the taxpayer to bail them (the ones who caused this very mess!) out?????

They are the very definition of chutzpah!


5 posted on 09/26/2008 5:58:30 AM PDT by Red in Blue PA ("I will stand with the Muslims should the political winds shift in an ugly direction" Obama, from Au)
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To: Thane_Banquo

link?

seems the people who want the free money on wall street are screaming.

they don’t want to lose the expense account.


6 posted on 09/26/2008 5:59:40 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: 4rcane
If the Democrats feel an economic meltdown will help them, all they have to do is hit the campaign trail. We can do nothing to stop them from inflicting maximum damage upon the country. We may lose the election but we can hold our heads high. After November, they will be stuck with the same tar baby they're stuck with now!

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

7 posted on 09/26/2008 6:00:46 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Thane_Banquo

To quote Nancy Reagan, “Just say NO!”


8 posted on 09/26/2008 6:00:46 AM PDT by Don Corleone (Leave the gun..take the cannoli)
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To: Thane_Banquo

“Blinded by the light
wrapped up like a Deutsche
in the middle of the night....”


9 posted on 09/26/2008 6:01:39 AM PDT by TheRobb7 (Has "Movement Conservatism" FINALLY been reborn?)
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To: Red in Blue PA

if anyone knows history in the early 1900’s

the passenger ship business started with a small government grant, then a bigger grant then a bigger grant because the business was crucial.


10 posted on 09/26/2008 6:01:57 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory

No link. This was a blast email sent out via the Bloomberg system, which is common in the business. I get a lot of these every day. Usually ignore them, but this one caught my eye as incredibly stupid.


11 posted on 09/26/2008 6:03:33 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: Crimson Elephant

The disadvantages of our atomized political culture are coming into full view as the far right and left attempt to weigh down a triage operation proposed by Bernanke and Paulson with all sorts of politically opportunistic amendments. One particularly disappointing turn of events: left wing economists like Michael Reich and Jamie Galbraith joining with right wing anti-union and anti-regulatory ideologues from the University of Chicago to oppose the plan.
http://globallabor.blogspot.com/


12 posted on 09/26/2008 6:05:34 AM PDT by anglian
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To: Thane_Banquo

Its our money not the Banks. Get a loan like everybody else.


13 posted on 09/26/2008 6:06:04 AM PDT by scooby321 (Cai)
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To: Red in Blue PA
So these bozos can make bad decision after bad decision, put the economy on the precipice of disaster, and EXPECT the taxpayer to bail them (the ones who caused this very mess!) out?????

Welcome to Wall Street.

14 posted on 09/26/2008 6:07:18 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: Crimson Elephant

remember what happened to Jimmy Stewart when the fat cats got pissed at Mr. Smith.

(see “Mr. Smith goes to Washington” the movie)


15 posted on 09/26/2008 6:10:43 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Thane_Banquo

The final straw came when the Dems inserted a provision to provide ACORN with 20% of the profit from government sale of the securities the Treasury had purchased. To make it even worse, this 20% calculation did not even include an offset for securities for which the government had a loss.

Naturally, Barnie Frank and Chris Dodd were screaming bloody murder when the Repubs refused to allow this payoff to ACORN.


16 posted on 09/26/2008 6:11:41 AM PDT by BusterBear
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To: BusterBear

I may die poor, but at least I’ll die free!


17 posted on 09/26/2008 6:13:44 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: Thane_Banquo

"Sen. Dodd has been rewarded in the 2008 election cycle with $7.65 million in campaign contributions
he took in $11.7 million in all — from the securities, insurance, real-estate and commercial-banking industries, according to his latest Federal Election Commission filing posted at opensecrets.org.

Sen. Dodd's list of donors reads like a who's who of who's in the stew:
Citigroup, $310,294; SAC Capital Partners, $282,000; United Technologies, $263,400;
AIG, $224,678; Bear Stearns, $205,600; St. Paul Travelers, $205,400; Royal Bank of Scotland, $203,750;
Goldman Sachs, $175,600; Morgan Stanley, $155,000; Credit Suisse, $154,550;
Merrill Lynch, $134,950; The Hartford, $94,350; Bank of America, $91,300
JPMorgan Chase, $129,150; USB, $101,900; Hartford Finance Services, $101,500
Lehman Brothers, $128,400; KPMG, $113,100; General Electric, $108,250; Deloitte Touche, $108,000

With $165,400, Sen. Dodd also tops the list of members of Congress who took campaign cash from Fannie Mae and Freddie Mac since 1989.

Sen. Barack Obama, the self-styled agent of change, is a distant second at $126,000 and Sen. John Kerry is third at $111,000.
In the top 20 are Senate Majority Leader Harry Reid, House Speaker Nancy Pelosi and Sen. Hillary Rodham Clinton."



18 posted on 09/26/2008 6:13:50 AM PDT by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: TheRobb7

skating away
on the thin ice
of a new day


19 posted on 09/26/2008 6:14:18 AM PDT by tumblindice ("Rewarding bad behavior actually reduces it." Dept. of Minitru)
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To: Thane_Banquo

ah,

right now I see this as a “Mr. Smith” moment with all the chattering class pushing this as a blackmail.

all the “big boys” want this to pass so they will now manipulate this.

or to borrow from another movie, “the spice must flow”


20 posted on 09/26/2008 6:21:21 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: anglian
with right wing anti-union and anti-regulatory ideologues from the University of Chicago to oppose the plan.

How did you escape the great liberal troll purge of 2007?

21 posted on 09/26/2008 6:22:17 AM PDT by NeoCaveman (End the Obamanation, Vote Maverick, McCain/Palin '08; Free Laz; Drill baby drill; Stand up for Chuck)
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To: Crimson Elephant

Dang straight they are playing politics. demonRATs cannot be trusted to govern. This bailout plan is riddled with earmarks—most for radical demonRAT favorites like ACORN.


22 posted on 09/26/2008 6:24:18 AM PDT by comps4spice (Democrats caused the current financial mess. Do we really want to give them the Oval Office?)
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To: longtermmemmory

This should be the day we take back our republic!


23 posted on 09/26/2008 6:24:30 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: Thane_Banquo

“”You’re going to lose your job and your house if you don’t give us $700 billion so we can pay for our Ferraris and Manhattan penthouses.””

I personally would like to see major pay cuts at the institutions that put us in this situation, including congress. These cuts should include elimination of bonus’s, options, etc. until the mess is cleared up. Why do we always have to take the pay cuts, let them that caused it suffer? If you can figure out how to punish the people that bought houses without the financial means, without making this mess worse, include them as well.


24 posted on 09/26/2008 6:25:57 AM PDT by A Strict Constructionist (I think faster than I type, lousy proofreader, deal with it.)
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To: goldstategop

“When I wanted a loan for income property earlier this year, they wouldn’t give me the time of day. All of a sudden, they need me? Screw ‘em!”

HEAR,HEAR!!


25 posted on 09/26/2008 6:26:27 AM PDT by bricklayer
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To: Thane_Banquo

Wow.

The liberals are certainly out early with the talking points.


26 posted on 09/26/2008 6:30:40 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: Thane_Banquo
Douche Bank should keep their yap shut.

Their money monkeys, in an infamous meeting with "financial engineers" from Goldman Sachs and others, are the ones that INVENTED the whole subprime/tranche mortgage packaging scheme that has caused this disaster...

27 posted on 09/26/2008 6:56:10 AM PDT by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: Thane_Banquo

right now the media whores are having convulsions that they debate face time is going by by.

The media wants to be fed.


28 posted on 09/26/2008 7:03:04 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: chilepepper

Subprime and tranching are two different, but related things. Tranching mortgages of high-credit-quality borrowers is actually a good thing, net-net. Tranching mortgages of deadbeats? That is complete idiocy.


29 posted on 09/26/2008 7:13:10 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: Thane_Banquo
Subprime is the lowest tranche.

The destroyer was allowing THOSE tranches to be further divided into a new set of tranches -- the ratings agencies did the rest by marking the higher levels of those tranches higher than they deserved to be...

30 posted on 09/26/2008 7:26:21 AM PDT by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: chilepepper
Subprime is the lowest tranche.

Not quite. All deals, prime and sub-prime, are tranched. Prime and sub-prime denote the kinds of borrowers, not the tranche itself.

Sub-prime mortgages were packaged into deals completely separate from prime and Alt-A deals. These deals were credit-tranched so that, say the lowest rated "equity tranche" agreed to take the first, say, 5% of defaults, the BB tranche agreed to take the next 2% of defaults. The BBB would take the next 2%, on up to AAA. No one on Wall Street thought the AAA tranches would ever lose from defaults. They were wrong.

31 posted on 09/26/2008 7:50:06 AM PDT by Thane_Banquo (You can put lipstick on a donkey, but it's still just a jackass.)
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To: NeoCaveman

Post 21 - Not being a liberal troll I meant to pose further questions regarding the views of Steve Diamond at Global Labor blog, who has been documenting the links btw. Ayers and Obama at Chicago Annenberg Challenge. My power has been out all day and could not comment further. I admit at not being too knowledgable about the subject and request further insight from FR about his views concerning the ‘bailout’ as expressed here. Thanks. http://globallabor.blogspot.com/


32 posted on 09/26/2008 9:54:50 PM PDT by anglian
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The total liabilities of Deutsche Bank (leverage ratio over 50!) amount to around 2,000 billion euro, (more than Fannie Mai) or over 80 % of the GDP of Germany.

[snip]

One key link has been risk-sharing. European (and other) financial institutions held a large share of the assets based on US residential mortgages and thus shared in the losses that arose when the US housing market turned sour. This type of risk-sharing is exactly what financial globalisation should be able to provide. The US banking system would be in an even worse shape had all the losses from US sub prime-based securities been concentrated in the US.

AIG's impact on European bank’s regulatory capital http://www.voxeu.org/index.php?q=node/1669

33 posted on 09/26/2008 10:12:59 PM PDT by anglian
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