yo

Americans still despise the republic party today. I like that. Puts me in a great mood.

Unknown congressman: Opinion on the bailout in my district is running fifty-fifty; fifty percent say “no” and fifty percent say “hell now.”

I posted the following on the late late thread, but felt it was worth reposting, since it so well explains yesterday’s debacle in the House. Ultimately this is a populist uprising by ordinary voters at both ends of the spectrum, i.e., the strange-bedfellows coalition.

Per Nate Silver at fivethirtyeight.com:

This was predictable, I suppose, but it’s remarkable to see how strong a relationship there is between today’s failed vote on the bailout and the competitive nature of different House races.

Among 38 incumbent congressmen in races rated as “toss-up” or “lean” by Swing State Project, just 8 voted for the bailout as opposed to 30 against: a batting average of .211.

By comparison, the vote among congressmen who don’t have as much to worry about was essentially even: 197 for, 198 against.

[…]

Also, Nate now projects Obama’s “win percentage” (likelihood of winning in November) at 83%.

Good morning, BT.

I love it when Republicans eat their own. From the NYTimes link above on concern about the Veep debate:

“And Dan Quayle never in his life has performed as badly as Sarah Palin in the last month.”

Obama says Congress needs to use the failed bailout bill as a starting point for a new bill vice starting from scratch. Right, Obama, stick a band-aid on a sucking chest wound. The problem is systemic, bonehead.

amazing. the republicans are blaming the dems for blocking a bill that the american public hates.

and weirder yet – it was the republicans who blocked it and the dems who wrapped themselves in the bush / paulson plan.

some days i think my head is just going to explode.

Republicans are still waiting for the unseen hand to rescue us.

Rep Kanjorski (D-PA) said the calls he was getting were 50% “No.” and 50% “Hell no.”

These people simply cannot see beyond their ideology. Put the vote figures on a chart and any 3rd grader could interpret it correctly. Not the Rethugs, though. The hidden hand is the one they’ve got stuck in the front of their pants.

bom dia pups
my aren’t you all a bundle of sunshine this morning lol

Good point but the MSM hack Polls are not showing the change as big as it should be. Any Hispanic with basic cable has heard Glenn Beck and Lou Dobbs daily hate rant at us trust me our voting numbers this election will be high.
I have yet to see a good estimate of how new African American voters can change the voting landscape.
Never mind an analysis of just how much GOP efforts to block minorities from voting does work and which states has this been used effectively in the past and what new states do we think it will happen this election.
This level of assessing polls and elections is a little beyond me.

The unseen hand just slapped them upside the head, and they don’t know what to do about it.

The funny thing is as more and more time passes the more people will oppose the bailout:)

The internal polling must look bad for the repugs because they are steady trying to beat the latinos-won’t-vote-for-a-black drum.

I think Hilary tried that already…and LOST!

Voting numbers will be high because the base of the republic party can’t wait to cast their vote for Dumb & Dumber? LOL Hysterical! Well, Americans are nervous and they know (even the REAL conservatives know!) it’s the Democrats this year who will move our country forward and will be coming out in droves to vote too.

The last I knew there were more registered Democrats than republics across this country. ;-)

Wasn’t shrub supposed to ”speak” at 7:45?

Did anyone catch it or did he stay in bed with the covers pulled over his head?

ha

excellent recommended diary at dkos by matt stoller on treasury’s sunday night conference call (that you read about here at fdl yesterday).

What’s perplexing is why the Democratic activist class is not as outraged as the country about this measure, and I include us on the internet.

The FL Dept of Elections is getting up to 25,000 new registrations per day, causing them to farm out the processing to the county elections supervisors. Many of those new registrations (I’ve heard figures as high as over 100,000) are felons who have had their rights restored under Crist’s new plan. Many, if not the majority, of those felons are AA or Hispanic, the product of our Jim Crow prison-industrial complex. The Green Party is working hard for the non-white vote. I don’t blame them. Neither the Dems nor the Rethugs have shown any real interest in improving their lot.

BINGO! When he speaks no one listens and when they do listen the stock market tanks.

Mornin’ Dawgs -

Wow, turned on the TeeVee today and Scarborough’s head is exploding. He must’a lost a bundle yesterday.

lol. i laugh at that because it is ridiculous as it is insulting. latinos are not a homogeneous group (many of us have african ancestory)and to talk to us or reduce us to such is an immediate turn off

He probably hasn’t finished his morning bike ride yet.

moved to 8:45

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.

“Attributed to ALEXANDER FRASER TYTLER, LORD WOODHOUSELEE. Unverified,” per Library of Congress.

But that’s not how it happened in the United States of America. It was not the majority that raided the treasury, but rather a wealthy elite. And they didn’t simply raid the treasury of its largesse on hand. Rather they maxed out the nation’s credit card leaving future generations to pick up the tab. Clever people these Republicans.

Jason Osgood is a Democratic running for office in Washington state. Here’s a video I got from the campaign:

http://www.youtube.com/watch?v=v6Nx7u3wgeA

Cute. ;-)

That’s a giant head to explode.

regalia (us chamber of commerce) on washington journal is shilling for paulson.

Citizen ThingsComeUndone:

Yes Mrs. Clinton almost destroyed 20 years of work in SoCal that was inchin’ Latinos and Blacks into some kinda accomodation especially in LA County.

Thanks. That was quoted to me by a friend, but he couldn’t recall the congressman’s name.

Have you seen any of the “Generation Kill” series? One of the Marines is from Brazil and there are funny scenes related to “Spanish”!

i was half awake when mr wobbs turned the tv on and i heard him rambling on about why the holiday when the market has fallen 777 points (referring to jewish holiday). he went on to compare it to christians and christmas. needless to say, no one touched that with a ten foot pole

No, I have never seen it. What station does it run on?

If there were any justice in the world, the explosion would go ahead and happen and the idjit box would be a much more pleasant place to start the day. Personification of a-hole he is. :-(

HBO, it’ll be out on DVD in December. I was done by the guys that did “The Wire”.

Palin is just like Bush. Making statements by desparately trying to string together all of the talking points someone told her while hoping that the randomness somehow seems coherent.

An option would be to assist homeowners with their mortgage payments. By making sure these mortgages remain viable, the market should stabilize.

The only reason I see for this not being a part of the package is that Wall Street doesn’t care if the mortgages go south as long as the holders of the worthless securities get their money back.

Working with homeowners who can actually make payments on a reasonable mortgage would keep those houses off of an already glutted market and make money for the mortgage holders. Banks are not in the real estate business and there are foreclosed homes in my area that are just sitting, empty and rotting.

AZ Repun on Joe. “No one changed their vote because of the stupid speech”!

Someone forgot to set his alarm clock?

it’s 8:45

Kaptur’s up on CSPAN

Yeah its not race so much as money which determines social class as my Mom would say for Hispanics that and manners and education.
Bush would fail in Hispanic society on two of these three things.

thanks, i will check it out. i cam imagine the funny scenes wrt spanish and portuguese as they are similar but hella different at the same time

OK geniuses. Last week Newt was raging about this mark-to-market and the Pubs have picked it up. This clown says “all economists say that is the root of the problem”. Why is this not true.

marcy kaptur on washington journal making sense. talking calmly about what has happened.

she sounds like someone i can support. actually sane. trying to provide calm and thoughtfulness.

Especially on a radio in a firefight.

Republicans are the root of all problems, Raven. I love how the republics just can’t seem to admit this tiny little fact!

Okay, going to work with the rest of the schmucks of America. ;-)

true but (at least in brasil) the two are linked. most of the poor and poorly educated tend to be browner and the wealthy tend not to be so brown

agree.

oh dear lol

Yeah but Newt was/is a pathological liar and a hypocrite

only true, i think, in the very short term about why the banks won’t loan to each other.

big problem, of course, is that no one knows who has what toxic paper and of course that needs to be made visible.

Off to play in the big town and maybe spend a few coins…….in the event they’re gonna disappear by evening anyhoo. Leave me word if scar implodes this morning. *g*

Mornin’ All,

Blue Texan – thanks so very much for yesterday’s live blog on The Vote

Have a good day

MIKI BREZNEV[sic] IS THE MOST APPALLING suck up to power and money on teebee that i have ever seen….neo-con TV is full of goopers all morning,they are laying the financial crisis 100% on BHO….scumsukkers all

Bye Kay!

and Waccamaw

like Teddy sez CONGRESS critters Neutered…TV CRITTERS DAZZLED BY WEALTH POWER,AND GUCCI/PRADA

i know kakptur is trying to provide calm, but i’m not so sure that our banking system is sound.

Yea but this point has become the mantra and I, being a dolt, don’t get if this specific point is true?

it is so amazing to hear REAL people,with REAL ideas after listening to the CRAPTACULAR of the last 8 years…..she is rare as ahens tooth,as mom would say

amen on that. thanks BT!

the poor and poorly educated tend to be browner and the wealthy tend not to be so brown

Imagine that…

HI WOBBS!!! sends {{{{{{hugs}}}}}

Had a guy who used to get on the horn and speak Vietnamese. Freaked me out at first. I’m switchin’ to secondary freqs, all that shit. Threatened to light him up once after a particularly nasty op.

Chimpy to mimmick language on the teevee.

oh shithead is on

It isn’t.

Uh because Home loans going bad is the problem? Credit is frozen because the banks can’t sell this crap. Banks need to sell this crap because they need a certain amount of cash in relation to the loans they have out.
Since they can’t sell the bad loans the banks cannot make new loans this freezes up credit so we have to buy the bad loans or just give the banks cash to get the banks lending again.
Then there is the problem of leverage my Diary at the Oxdown addresses that.
Bad accounting practices are never a problem in a good economy only a bad economy I think the Newt and the GOP are trying to deflect blame away from their precious Chicago School of War Crimes Economics.

potus up.

SD……….{{{{{{{hugs}}}}}

shithead puttin on his TEXAS drawllllllllllll yall

Was this guy Vietnamese?

I think I told you about my SF buddy that got hit on an op with CIDG’s and had to have one of them key the mic so he could call in his own dustoff!

Should be poutus

potus:

reality is that we are in an urgent situation.

fear, fear, fear.

selise, it’s my understanding that the smaller, more local banks have been subject to much more regulation and are quite sound. It’s the really large ones that have joined their investment banking with other activities under loose regulation that are having problems. Check out this Salon radio from Glenn.

you were a radio guy ???

chimpy is drunk,cant read script

True but if you have money being dark is not as bad as being Dark up here.

W flogging a dead horse.

OK, but their point is that this mark to market thing is a faulty reporting mechanism that inaccurately reports values.

(((sadly))) bom dia beautiful How are you today?

poutus: (thanks to maydaze)

threat of economic hardship for millions of americans.

congress must act.

our economy is dependent on decisive action from our government.

Dude on Joe says prez looks like a “beat down dog”!

Can’t say if that is true or not. Not that many dark folks with money in Brasil and if they are, it is probably due to football (Pele, Ronaldinho, etc)

No, multi-lingual.

I bic

thanks! will do.

my concern was based on this chart from setser.

That was a pitiful speech…

Not a shred of Leadership.

He Whined at the Congress!

President Kommander Guy is giving a speech and he is still confident. How dare he give a speech on a Jewish Holiday. He claims to be “faith based” yet he committed religious sacrilege. Why does Booosh hate the Jews?

Can’t take no for an answer, then stomps off…to pout(us).

this should be Obies response

http://www.youtube.com/watch?v=jKn_i0k-6I8

Among other things. Volunteered to go with a SEAL team on a simple op one morning to free up the other team members. Weren’t very many in those days. It went from there.

hahahahahahaahahahahha
cause he is and ALWAYS HAS BEEN 100% full of feces

(((Wobbs)))

(((Sadly)))

Hmmmmm. The Chimp ain’t smirkin’ no more.

Did anyone else hear that Ben borrowed $$ from The Bank of England, Bank of Japan and various other banks abroad and infused $630 billion into the system yesterday before the bailout vote???

wonder how his PREZELDENTAL LIEberry will be funded?

W is quoted recently as saying that after he is out of office he is going to make a lot of money giving speeches – boy is he delusional

first lol of the day,thanks

second lol

And as I mentioned in a previous thread, from Generation Kill, McCain reminds me of “Captain America” in the miniseries.

((((SD))))

LOL I thought I gave you your energy hugs this morning already (I hadn’t).

Furthermore, completely removed from reality. The Paulson plan is dead.

To understand the original practice, consider that a futures trader, when taking a position, deposits money with the exchange, called a “margin”. This is intended to protect the exchange against loss. At the end of every trading day, the contract is marked to its present market value. If the trader is on the winning side of a deal, his contract has increased in value that day, and the exchange pays this profit into his account. On the other hand, if he is on the losing side, the exchange will remove the appropriate amount from his account. If he cannot pay, then the margin is used as the collateral from which the loss is paid. As an example, the Chicago Mercantile Exchange, taking the process one step further, marks positions to market twice a day, at 10:00 am and 2:00 pm.[1]

As the practice of marking to market caught on in corporations and banks, some of them seem to have discovered that this was a tempting way to commit accounting fraud, especially when the market price could not be objectively determined (because there was no real day-to-day market available), so assets were being ‘marked to model’ using estimated valuations derived from financial modeling, and sometimes marked to fantasies. See Enron and the Enron scandal.

http://en.wikipedia.org/wiki/Mark-to-market

Corporations overvaluing themselves is always a problem especially when the market tanks but its bad home loans that are causing the market to tank right now.
Maybe I missed it but the financial blogs have been complaining about bad housing loans since day one of the Bush/Greenspan housing bubble.
Mark to Market accounting problems have died down as an issue since Enron faded from the news as I recall the GOP was not eager to investigate then.

Yes, someone posted this earlier, forgive me not remembering who
Fed Pumps Further $630 Billion Into Financial System (Update3)

The Paulson plan is dead

Don’t bet on it.

It is but its not the main reason the market is going down now.

The only reason I see for this not being a part of the package is that Wall Street doesn’t care if the mortgages go south as long as the holders of the worthless securities get their money back.

To restore the market value of America’s real estate, they must restore and improve the wages and job security (i.e., credit worthiness) of the people who want to buy it. People who can afford larger loans can afford more expensive housing, and vice versa. U.S. housing appreciate to the point where the U.S. public countn’t legitimately qualify for the loans necessary to purchase it.

Christy has a new thread on the speech.

yup

wow. every vet I know from the era talks about you guys and how ‘lucky’ you were to survive – happen to know 2 who went on the Defense Language Institute and they were constantly threatened with Radio School if they screwed up.

so glad you made it. :D

Yes I’m waiting for Ian or somebody to weigh in I think its stupid.

Ellie and TCU-

Thanks!

I need Ian or someone to explain this to me. Help!!!

Cool!

Thank goodness SOMEONE said IT!

What’s perplexing is why the Democratic activist class is not as outraged as the country about this measure, and I include us on the internet.

selise, this has been an issue that you and I have been bringing up quite a bit since last Friday. Glad it’s been said again. Think anything movement will come of it?

Need MORE coffee…should read:

Think anything movement-wise will come of it?

One of the reasons they developed the collapsible antenna. Might as well as had a flag on that whip. That thing could draw hot steel like flies…

Per Ian Welsh, he didn’t borrow it but, in effect, printed it and loaned it to banks around the world.

Frankly, I didn’t understand that posting very well.

Thanks all! I missed Ian’s post yesterday. Now I’m off to read.

Thanks. Me too. Can never forget those who didn’t, though. They’re the real heroes. Each and every one.

Off to swim in the great capitalist cesspool.

Be good to yourselves, and all other living things.

Namaste