That’s easy. The Dems’ friends at Fannie May and Freddie Mac convinced Paulson that there was a sudden emergency, so he then convinced Bush. Congress fueled the fire on cue too.
I don’t think President Bush was “in on it.” His demeanor during his speech to the nation was not an act. IMO, Paulson, and “whomever” set this whole thing up. Who knows Paulson and his friends at Goldman Sachs could have orchestrated this for the commissions that would have been made when all that money moved in and out of the market. The whole mess turned out WAY too well for the financial industry.
It stinks to high heaven.
Schumer’s letter re IndyMac in late June was the punk. Chuckie believes “Party First”.
I have posted a shorter version of this piece in several threads, so sorry if it sounds familiar to some freepers. But this unbelievable turn of events in late September and continuing to this day seems to be almost dismissed as just one of those things. It is incredible to me that the people we entrust to run the government aren’t just freaking out at the brazeness of this financial attack.
And that’s what it was - - an attack.
The funny thing about attacks like this one are that they are largely fueled by propaganda. “Bad news” easily becomes worse news, like a self-fullfilling prophecy. Wait until the retailers report Christmas sales this year. That snowball is already rolling downhill, and quickly picking up speed.
Maybe if things get as bad as many financial experts believe they will get - - ie., when reality bites the nation in the rear-end and masses of people are threatened with the loss of their homes and savings - - our elected representatives will wake the hell up.
FRegards,
LH
vanity BUMP
Hello, FRiends!
This thread isn’t military related but I wanted to ping you to it anyway.
I find the thought of “Commander-in-Chief Barack Hussein Obama” downright bone-chilling.
FRegards,
LH
I’ve been saying that .. asking that all along.
How could a catastrophe of such humongous
magnitude have escaped the experts ..no one
saw the brink coming .. and then it erupts
suddenly ..BOOM ... just in time for the
election?
Soros, Kerry, Pelosi, Schumer,etc., plus international leftists like Gordon Brown, Gorbachev, etc.
McCain was summoned; Obama issued a ‘I approve this bailout’ statement and his now infamous ‘call me if you need me’ dismissal of the crisis as he conveniently disappeared to hover, or ascend, or whatever it is artificial messiahs do when they disappear from public view.
Thank goodness that McCain DID return to Washington, for he found, that in spite of the calamitous ‘financial catastrophe’, Frank and Pelosi still managed to find precious time to include a $3B windfall for ACORN - amazing I know, but shows where their heads were at (and remain). In fact, they were so intent on porking up the bailout bill, they neglected to add any mandates or rules defining how banks were to handle the billions in cash they were being ‘rescued’ with.
McCain exposed the windfall (leading to Frank's snitty remark on the House Floor) and McCain also exposed the fact that Republicans were being locked out and BARRED from meetings concerning said bailout - McCain's presence gave weight to Boehner’s demand to get those doors open for Republicans to participate, albeit under conditions of confiscated blackberries and cellphones (which made it very difficult for republicans to communicate to leadership).
Blackberries and cellphones were collected in trashcans, under the pretense ‘leaks’ would be ‘harmful’ to the passage of the bailout bill (with, of course, the implicit insinuation that the ‘leaks’ would only be possible from the republican side).
Without McCain, the original ‘bailout’ would have been nothing more than a Windfall Factory for the Dems.
Unfortunately, in the Senate Version, Dodd STILL didn't put any rules in the bailout bill, but he DID include an illegal and artifical loophole that benefits the banks by enabling billion-dollar windfalls for themselves, which has lead to an even bigger mess.
McCain is one of the unsung heroes of the bailout - exposing once again the hypocrisy of the dem party - and deserves acknowledgment as such.
Nothing that happens in politics is coincidence...
Have The No-Drill Democrats Boxed Themselves In?
At that time, I was perplexed by Pelosi's intransigence on gasoline prices.
I think it's becoming clear what was going on, and why the Democrats went on vacation for five weeks, and flipped off the rube Republicans in the well of the darkened House over their smarmy little drilling protest.
NO!!!
I'VE BEEN QUESTIONING THIS FOR WEEKS NOW, HERE AND OTHER PLACES.
WHY OH WHY, DID W NOT SIT ON THIS (AND ON PAULSON) FOR A FEW MORE WEEKS?
Bush may not be the brightest buld, but he's been around politics all his life and for him not to realize the implications for mccain is beyond credulity.
At the start of this "meltdown," mccain was surging (thanks to palin) and now had a decent shot of winning.
Of course he shot himself in the foot by going to dc and getting sucked into that whole supporting effort, and if he had opposed the bailout, would have won it going away.
I lay a lot of the blame on bush. He could have stopped that nonsense and postponed it for a few weeks, but no he was in the forefront (leading the charge vociferously) of all the other chicken littles.
Something stinks here to high heaven !!!
It was orchestrated, Lancey, and the real question (my tin foil hat, please) is whether MCCAIN was in on it.
His campaign response throughout, including this, was so inept as to be carefully planned. I don’t think anyone let Palin in on the secret, though.
The “must happen by Monday” has reached out to weeks later, and STILL the banks are having trouble deciding where to send that money, and Congress is wondering if they shouldn’t siphon some off for the car companies.
700 BILLION ABSOLUTELY CRITICAL DOLLARS THAT HAD TO BE IN THEIR HANDS BY MONDAY!
And they still don’t know what to do with it?????
Why hasn’t Bush fired Paulson???
That has been a burning question on my mind. I would have fired Paulson, given this crisis that just popped in all of a sudden.
The conversation would have went like this if I were the president.
PAULSON: Mr. President We have a serious problem, I need 700 billion dollars in the next 48 hours !!!
PRESIDENT: Mr. Paulson, your fired !!!
:)
McCain lost this election for several reasons, but signing on to the bailout was his biggest mistake, IMO. Many Americans were against bailing out Wall Street, bad home investors, whathaveyou. McCain failed to see the obvious. More people were instinctively conservative vs. socialistic in addressing the financial crisis.
Paulson coming up with a fix that had to be passed in a few days, should have sent blaring warning signals to any and all. It reminded me of typical retail sales pressure tactics...think used car salesman. If the story was true about Paulson getting on his knees and “begging” Pelosi....well that should have been another loud warning.
I blame President Bush in not picking a better person for this job. I blame President Bush’s “new tone” for the democrats and media almost unapposed bashing of conservative ideology. McCain’s tone was about the same.
If there was any conspiracy, I don’t think Pres. Bush was in on it. This was incompetance, which will only get worse with Obama, this was greed, fear.....but mainly this is total incompetance.
I’m still waiting on President Bush to spend some time with the American people via TV to explain how this meltdown has happened, how it will improve with the bailouts, or how Paulson is adjusting plans based on market response. I think I’ll be waiting forever.
Not only just 6 weeks from the election, but ALSO just when McCain pulled 10 points ahead of UHHbama in the polls.
Yes, this was all a manufactured crisis by Paulson and the Democrats. The problem is they played with fire and got burnt. Once they announced this crisis the investors reacted and the market went into freefall from that day forward.
Have you looked at the market prior to the first Congressional Bailout vote? It had been the normal fluctuations of ups and downs before that day.
They opened Pandora’s Box and nobody knows how the put the top back on and control the situation. This evil thing they did to regain total power, hopefully, will be exposed one day with hard evidence.