Rush, you're right ... as always! And Newt hit the nail on the head the other night with Greta,
and also tonight with Hannity after President Bush's Speech (Sept 24, 2008 at 8 pm central time).
I don't support this bailout.
Rush, you and Newt otta' be in the White House for the next 8 years!
God Bless and Keep you , Rush.
And God Keep and Bless Newt also.
Thank you very ... very much.
Newt has the solution. McCain should be hammering that home, but no. What the hell is wrong with him?
More and more, this reminds me that Palin is the ONLY reason I’m voting this time. I’m almost ready to rescind that though.
It’ll be a cold day in youknowwhere when the MSM assigns blame for this mess where it belongs.
—bflr—
I wonder why did not mention the fact that President Bush called for more than 440 Billion for Fannie and Freddie Subprime mortgages for minorities?
I think we already have enough unqualified candidates.
bump
Sadly,the DBM/Libeerals have their talking point of “no pointing fingers” already burned into the brains of the sheeple. As for Rush in the WH....he wont ever take the cut in pay,and knows he is no politician.
Marking for further reading....good post
All debt is graded from AAA down. What they did was to take subprime loans and sell them as AAA when in fact they are junk worth about 20 cents on the dollar. The subprimes were not the whole thing but they trigged this and now the entire thing is crashing. It’s going to hurt a lot of people that are credit created wealth and it’s going to take a long time to come back. They don’t need to be throwing money on top of a blazing fire. It won’t work especially if more go bad because the debt is so high.
It’s too bad they didn’t reform when they had the chance.
And they need to keep records like they did between 1945-1980. Did you know actual record keeping stopped in 1980?
Why is McCain ignoring this story?
I can understand why the New York Times, The Washington Post, ABC, NBC, CBS, CNN and even Fox News are all ignoring this story.
But why is John McCain ignoring this story?
This is a matter of TRUTH.
Why is McCain ignoring the TRUTH?
Why is McCain failing to tell the American people the simple and unvarnished TRUTH?
Thank God for Rush Limbaugh.
I thought there was one enormous elephant in the room that Newt missed in his analysis.
His view was workable so long as the worldwide confidence factor is ignored.
There is an emotional dynamic to the market that cannot be underestimated. It’s not enough to address the nuts and bolts of how to unfreeze the credit market. The issue of restoring global confidence in America as an economic superpower also needs to be addressed and managed wisely.
Part of the reason for asking for such a large *spending authority* (that’s all this is-—$700B is not going to flow to the Treasury Dept on Monday and then be parsed out in checks to financial institutions on Tuesday), clearly is to create an “overwhelming show of force” in the world markets.
IOW, to make a very clear statement that the U.S. is committed, essentially, to whatever it takes to restore liquidity and stability to the market.
The world markets, including our own, will NOT have confidence in anything governmental response perceived as half-hearted or as hobbled by an ongoing scheme of politicized wrangle-points.
And yes, in regard to the psychological/emotional dynamic of confidence in the market, perception is just about everything.
Newt’s analysis completely ignored this aspect, and, therefore, is doomed to fail.
If we as a nation do not make a strong statement to the world that we are ready and willing to take responsibility for fixing the mess in the world markets that we, as the world’s economic superpower, substantially created (never mind at the micro level the internal blame between Rats and Republicans and so on), the fallout will be MORE THAN ECONOMIC.
And, may I remind, that throughout history the state of economies have more correlation to the outbreaks of war and aggression than most any other factor.
Jack Welch on H & C had a much less myopic view than Newt on what needs to be done.
ONe gem from Gingrich, CUT THE CAPITAL GAINS TAX TO ZERO.
bttt
Keep in mind that this next article (you can get there through the link above as well) was written in December 1997!
There is no housing bubble, there is no housing bubble.../
THE MOUNTING CASE FOR PRIVATIZING FANNIE MAE AND FREDDIE MAC
As a result those entities, as they are currently constituted, are perceived to be "too big to fail."
Have you heard that bandied about lately? Sure you have!
How odd that some old things, like me, never really go away...
Rush is very much on target here, but there is plenty of blame to assign on the republican side of the isle as well. It doesn’t matter what we say about it though folks, the republicrat party is going to screw us all again, but good. We’re being taken for a ride by the politicians. Hope you enjoy it.
“Rush, you’re right ... as always!”
He is. if you ignore that he manages to get basic facts wrong.
Fannie and Freddie were listed companies on the stock exchange. Fannie began life as a government agency in the ‘30s but had been spun off as a private concern years ago. They were called GSEs, government sponsored enterprises, because of their one time affiliation with the government, but there was no requirement that the government guarantee their debt. They were private companies when they managed to dig themselves, and the mortgage market, into a big hole.
Rush likes to pretend to have much greater knowledge of economics than he does- it’s part of his “talk confidently” persona. When he doesn’t know what he’s talking about he goes to his default position of claiming every solution reduces to a conservative vs liberal or a Republican vs Democrat divide.
This fiasco has bipartisan roots, and some of it goes back to getting rid of the Banking Act of 1933 during the Clinton administration. The bill was sponsored by Republicans Gramm, Leach, and Bliley.