Deutsche Bank: Do Republicans want to risk economy to win elections?

Deutsche Bank Political Analyst | 9/26/08 | Frank Kelly

[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.

[Thane_Banquo]

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."

[goldstategop]

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

[Crimson Elephant]

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.

[4rcane]

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

[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?????

They are the very definition of chutzpah!

[longtermmemmory]

link?

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

they don’t want to lose the expense account.

[goldstategop]

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

[Don Corleone]

To quote Nancy Reagan, “Just say NO!”

[TheRobb7]

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

[longtermmemmory]

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.

[Thane_Banquo]

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.

[anglian]

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/

[scooby321]

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

[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?????

Welcome to Wall Street.

[longtermmemmory]

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

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

[BusterBear]

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.

[Thane_Banquo]

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

[Diogenesis]

"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."

[tumblindice]

skating away
on the thin ice
of a new day

[longtermmemmory]

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”