The vision of the folks in that room can be summed up by this picture:
Those are barracks at the former Marine Corps Air Station at Tustin, California; which have been converted into socialist, publicly funded, housing.
Posted on 09/19/2008 12:01:04 PM PDT by Sub-Driver
Congressional Leaders Were Stunned by Warnings By DAVID M. HERSZENHORN
WASHINGTON — It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.
Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill, and they were gathered around a conference table in the offices of House Speaker Nancy Pelosi.
“When you listened to him describe it you gulped," said Senator Charles E. Schumer, Democrat of New York.
As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, put it, “There was a long pause in the room.”
Mr. Schumer added, “History was sort of hanging over it, like this was a moment.”
When Mr. Schumer described the meeting as “somber,” Mr. Dodd cut in. “Somber doesn’t begin to justy the words,” he said. “We have never heard language like this.”
(Excerpt) Read more at nytimes.com ...
Yea him and Barney Frank! Of course you have sink the banks Schumer, loose lips that caused a run on a bank Indy Mac....
>>bogus justification for invading Iraq,
Saddam was colluding with Russia, Iran, Venezuela, and others to price Oil in Euros.
That’s enough justification for me.
Things are bad enough as they are, but imagine if Saddam had been able to pull of decoupling oil from the dollar - and then we had the housing / credit implosion on top of that?
Barney Frank sucks.
“Now you and I get to pay for houses which we can never live in which will probably be given to “favored minorities” for pennies on the dollar.”
That’s just it isn’t it?
If the solution involves the same problem - the question becomes - let it crash now? or let it crash later?
They maneuver us into this mess with pie in the sky loans for people who couldn’t service them, then stand there with their jaws on the floor when what any sane person knew would happen as a result does.
I had this very discussion with a coworker from California yesterday. His response?
"But they just wanted to have HOMES!"
Dear Lord - how do we speak sense to people who, despite being well educated, insist on being oblivious to anything but their emotions? I'm seriously rethinking universal suffrage.
“Nobody should give a crap at this point what the banking industry opposes.”
Agree.
And if banks can be forced to renegotiate the terms of some of the mortgages that are in danger of default, they should be. Better than foreclosure for all involved.
The extreme left needs something really big and encompassing to put the blame on us. “Bush’s war” is big but not big enough. If they don’t have something really big to pin on us it will take about 10 years of this level of indoctrination by the media.
If they are successful and put the blame of this latest housing crisis on us we could be in real trouble.
Steve, I’m not immune to your logic on this. I will only say that what takes place on D.U., Daily Kos, and MoveOn.Org today is accepted by the leaders of the liberal left. Gore goes on MoveOn.Org to voice his views. I believe other leftist leaders show up on the Huffington Post. Look at what passes for reasoned thoughts on those sights.
I think we’re on the verge of something big right now. You’re terrified of Obama being elected, because you agree. In your heart you do right? Not trying to give you a hard time here. I’m just taking note of what others have intimated about their own outlook.
This touches on something I’ve been pondering over the last few days. On the subject of reeducation camps, it seems to me we already have them in our nation, in place. Anotherwords, you stay home, we’ll reeducate you via the television, via corporate initiatives, corporate advertising, the natures conservancies and a full blown movement that is swamping our education system like a tsunami. The communist model has been updated, but there it is, staring us in the face.
“When was the last time most of them were sober?”
Last time I was sober
Man, I felt bad
Worst hangover that I ever had
It took six hamburgers, and Scotch all night
and nicotine in the morning
Just to set things right!
Anybody who still believes the economy is just peachy and this was a manufactured crisis just to get Obama elected, is extremely ignorant, misinformed or biased. We are on the cusp of a depression and I’m not even sure this necessary step will prevent it. I think it has a chance to prevent financial doom, but I am not sure about that. Deflation may still win out if the Fed government just can’t print money fast enough to wipe out all the bad debt. If they can absorb it all, then we get by with a few years of double-digit inflation and we are saved for now from Great Depression II, the Sequel “This Time It’s Serious.”
Anybody who STILL thinks things are fine in the economy, this is all just the MSM talking down an healthy economy to get Democrats elected, is in severe denial or is a completely uninformed.
It may not be Jim Johnson, but you can bet its a Big Johnson!
Buy guns and ammo
as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.The phony, contrived reactions by the Demwits are not gonna be reprised by me. :')
This is, indeed, what needs to be emphasized.
The socialists have succeeded in nationalizing the largest part of the U.S. economy.
This is bigger than socialized medicine.
yitbos
PELOSI ...
I’ve been asking for a long time now for a reset.
But I was talking about the U.S. Constitution.
Now that we’re facing a complete worldwide meltdown
of the lending industry, the idea of a year of jubilee
makes perfect sense.
Leviticus 25 says ... At the year of jubilee (every 50
years), all Israelites who have sold themselves into
slavery are to be set free, and all land that had been
sold is to be reverted to its original owner. This means
that no Israelite could ever be in permanent slavery;
nor could any Israelite permanently lose his inheritance.
All debts are cancelled and everything is “reset”.
Now if we could only reset the Congress and the Senate.
(sigh)
Thursday night Bernanke told they were right, but the fault is theirs and they better fix it before they go on vacation next week.
social justice and economic realities often repel each other from their respective paradigms
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