Comments on: Early Morning Swim

By: klynn

klynn — Mon, 29 Sep 2008 13:27:57 +0000

James Galbraith on the bailout:

The present slump is national, and it can’t be cured that way. But it could be resolved in three years, rather than 10, by a new Home Owners Loan Corp., which would rewrite mortgages, manage rental conversions and decide when vacant, degraded properties should be demolished. Set it up like a draft board in each community, under federal guidelines, and get to work.

http://www.washingtonpost.com/.....03033.html

William Isaac on the bailout:

Also weighing in on the bailout last week was William M. Isaac, former chairman of the Federal Deposit Insurance Corp., who pronounced Congress’ rush to spend $700 billion on questionable assets “disheartening.”

Isaac proposes revisiting a 1980s-vintage FDIC program that buoyed problem savings and loan associations by issuing them promissory notes they could use to shore up their capital base, allowing them to start lending to worthy borrowers again.

He also says the banks should get relief from an onerous accounting requirement known as the “mark-to-market” rule, which forces them to declare values on mortgage security holdings that reflect only their short-term worth, which in a troubled market may be far below their real value. The markdowns, he argues, have contributed heavily to major banks’ huge reported losses, sapping investor confidence.

By: JimWhite

JimWhite — Mon, 29 Sep 2008 13:16:46 +0000

I sure hope you’re right.

By: SouthernDragon

SouthernDragon — Mon, 29 Sep 2008 13:13:37 +0000

The staff listens very politely, gives encouraging responses and that’s the end of that. Pelosi and the Dems are going to sell us out. Again. Not a one of them smart enough to see an open pit trap right in front of them.

By: JimWhite

JimWhite — Mon, 29 Sep 2008 13:13:24 +0000

I just called Burgess’ Washington office. The young lady who answered the phone gave a long pause when I asked her if she could provide clarification of Burgess’ statement yesterday on the floor of the House that Pelosi has declared martial law. After the pause, she said that she could not comment on it. I then asked if she was saying that she could not provide any information on whether Burgess had any basis for making the statement. She said that was the case, but that she would take my comments. I then told her that I would like for the Congressman to provide further information on his statement and that even though I am a liberal Democrat I appreciate his hard work on trying to prevent passage of the bailout bill as it stands.

Now I’m scared. It’s easy to come to the conclusion that Burgess was not supposed to say anything about this but it’s true.

By: klynn

klynn — Mon, 29 Sep 2008 13:10:01 +0000

Got through to Pelosi’s office. The “Martial Law” issue is a total fabrication and politics as usual.

They did listen to my call the second time when I mentioned to SLOW the bailout bill down.

I told her office to work to clarify the Martial Law fabrication ASAP and that if she does not slow the bailout process down, she’ll do a darn good job of killing the Dem party and she better use her power responsibly to slow this down, otherwise; she may have a Boston Tea Party on her hands.

They were nice and said they were getting lots of calls. People CALL!!!!!

By: klynn

klynn — Mon, 29 Sep 2008 13:02:54 +0000

Her office now seems to have “voicemail” in order to avoid getting timely messaging on issues.

As soon as the phone is answered, just state slow the bailout process down for the people to read the bill before it is passed.

If you get sent to her voicemail, try her SF office and get on the backs of ALL your REPS especially Dems. 1-415-556-4862.

By: Beerfart Liberal

Beerfart Liberal — Mon, 29 Sep 2008 13:01:15 +0000

Question about the debate: Did McCain call for a sepnding freeze kinda off the cuff? was that him talking?

By: selise

selise — Mon, 29 Sep 2008 13:01:10 +0000

yes. i’ve been following the house morning actions at oxdown. don’t know if thats the right place to do, but i’m watching so i might as well comment on it.

By: JimWhite

JimWhite — Mon, 29 Sep 2008 13:00:48 +0000

I watched the Burgess and Kaptur videos last night. I then did a search on Yahoo News on martial law and couldn’t find anything. Has anyone tried calling Burgess’ office for clarification?

By: SouthernDragon

SouthernDragon — Mon, 29 Sep 2008 12:58:42 +0000

Goddamn Patriot Act scam again. We don’t have time to read the bill or consider the consequences, just pass it. Think I’ll convert my torch into a thermal lance.