What’s on your mind tonight?
|By: Ian Welsh Tuesday September 30, 2008 8:45 pm|
And how did the Republicans repay him? With betrayal and racism. First they spent the last week trying to blame the Community Reinvestment Act for causing the crisis. The non so sub-subtext? That it was forcing banks to lend to blacks and latinos that caused the mess. That’s a simple lie, CRA sponsored banks and lending institutions have a lower default rate than non CRA lenders, because there are more stringent conditions, but lying has never stopped Republicans from dealing in racist appeals to the worst people in America.
|By: Phoenix Woman Tuesday September 30, 2008 7:30 pm|
Dropping this stuff out of helicopters
Sorry, folks, but I’m afraid it’s going to be a bad deal or no deal at all. Here’s why:
The Republicans who voted down yesterday’s bill did so in large part because they disliked the few things we liked about it: Namely, some oversight, tax and punishment provisions.
|By: Eli Tuesday September 30, 2008 6:01 pm|
Here’s what I don’t get. Even if we forget about the political impact of Obama backing a hugely expensive bailout plan of dubious popularity, what about the governance impact?
|By: Ian Welsh Tuesday September 30, 2008 5:35 pm|
Just got the word that the Senate is going to vote on the bailout bill tomorrow. The changes are apparently mainly in the area of loading it up with pork to grease its passage. Odds of passage? Pretty high. The idea is to get it passed in the Senate and then see if they can scrounge the votes in the House in one last big hurrah.
|By: David Neiwert Tuesday September 30, 2008 5:15 pm|
What I’m hearing from Alaskans: If Palin doesn’t win in November, she will be impeached as governor.
|By: Ari Tuesday September 30, 2008 4:30 pm|
Yesterday we wrote about Kurtz aside on Maureen Dowd getting banned from the McCain plane. Now the full story emerges:
It all started when Maureen covered an Aug. 30 McCain-Palin rally in Washington, Pa., then wasn’t let on the McCain plane afterward, forcing her to overnight at a Pittsburgh airport hotel while the traveling press went on without her.
|By: emptywheel Tuesday September 30, 2008 3:30 pm|
Surprise surprise–just hours after they scripted Sarah to make jokes about Biden’s age, the McPalin campaign is launching another fit of outrage by claiming a joke about McCain’s erratic behavior was about his age.
But I guess that means jokes and discussions about McCain’s age are okay now?
|By: Ian Welsh Tuesday September 30, 2008 2:32 pm|
Concluding Remarks: Is this a good bill? Depends on three things, how much money it involves; whether the money is a one time thing, and how the mark to model is done. If it’s, say 200 billion to tide things over, than so be it. If it’s just another way to flood 700 billion or 1.5 trillion dollars, then there’s little difference.
Also, this bill, if done long, is a Japanification bill. It leads to a long “bright” depression style economy for a good to 20 to 30 years.
|By: Ian Welsh Tuesday September 30, 2008 1:30 pm|
Contra Krugman, today’s refusal to spend 700 billion+ bailing out the country’s richest people did not confirm that the US was a banana republic. Instead, what it said is that America was not willing to solidify its role as the world’s largest plutocracy – a country run by the rich for the rich.