The Captain of the Street

The Republicans finally figured out how to top Reagan's (along w/ McCain & the Keating 5, etc) S&L Scandal and Crisis ... ... 12 years of Republican Congress and 8 years in the Presidency have finally made McCains economic guru's (Phil Gramm's) dream a reality just not the reality they dreamed of.

The Republicans finally figured out how to top Reagan's (along w/ McCain & the Keating 5, etc) S&L Scandal and Crisis ... they just keep promoting incompetence. Sounds like a cliche but it really is time for a change

Whose everyone kidding ? Wealth in the ol USA is largely evaporated. We gave our wealth away through the 'FAST TRACK' trade agreements, a process in what, its twentieth or so year? Our epitaph: THEY WERE PREDICTABLY GREEDY, ULTIMATELY FOOLED BY THE DICTATORIAL GOVERNMENT OF CHINA. DUH... CHINA never meant to be a partner. CHINA HAS ALWAYS INTENDED TO RULE THE WORLD and has fooled our GREEDY CORPORATIONS with PROMISES of VAST WEALTH. You've got to appreciate the irony in all of this, given ours and Britain's treatment of them in the 1800's.

Solution to the little people of America ? BUY GUNS AND GOLD. AND TRUST ONLY IN GOD, who doesn't suffer fools or the greedy well, BTW. WE MADE OUR BED. NOW WE HAVE TO SLEEP IN IT. ENJOY GOD DAMN IT.

In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?


The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Let's teach him we are smarter than that .

Hold them accountable NOW! while it will still help.

Elect Obama Biden 2008

Hank became the most powerful man in the world, and he has the experience to potentially make the right decisions. However, Sarah Palin. Did you know she wanted rape victims to pay for their own rape kits? Funny and horrifying. Check out the animated cartoon:
http://www.236.com/video/2008/get_your_war_on_sarah_palin_an_9028.ph

A former Wall Street honcho decides a bailout is better than the alternative. Meaning a failure of the system which would bankrupt many of his friends and associates and would also put his own fortune in jeopardy. Wall Street has always been a giant con game on investors who believe those with inside information can be trusted to play fair. The ethics that created the current mess have always been the norm on Wall Street. Sec. Paulson can pretend he is working in our best interest by helping the crooks who caused the probelm , made most of the money from it, and now have the governments blessing to start over after they unload their garbage on taxpayers. Selling this bailout will be the scam of the century, and should put Paulson in the ranks of the greatest Wall Street con men in history.

The man is no hero. Please stop the framing of him like he is. People are just people, all though some have inordinate power and compensation. At best Paulson manages to avert a total financial catastrophe he has played a role creating and then did a poor job stamping out. What he is now demanding is total control and about 1 trillion in taxpayer dollars handed over to him because of it. Yes we need to do a bailout at this point unfortunately. No, the democrats shouldn't hand over total control to this man and no the wall street execs shouldn't get lavish compensation for rape then failure, like Paulson wants for them, and yes we need to also allocate some of this money towards main street mortgages. What Barney Frank is asking for is the least Paulson can do. If this is indeed a real crisis then Paulson should agree. I'm tired of handing over total control in an "emergency" to anyone in the Bush administration especially. Last time we did that we got an invasion of Iraq.

n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?


The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Let's teach him we are smarter than that .

Hold them accountable NOW! while it will still help.

Elect Obama Biden 2008

Banana Republic. That is what this then Great Country will settle for. Where were the government when these same financial institutions that now are failing were giving loans for people without any credit, sometimes without SS#. I am no financial wiz but I could clearly see what was coming. The gov let it go to fill the pockets of their friends (resulting in big donations...). This GOP sold this country in so many different ways that is very sad to think about it. Imagining that they got this country with a surplus and they are leaving it bankrupt....

If they MUST help I want see legislations such as:

1) ) any financial institution that seeks help will not distribute dividends for at least 5 years and no employee will get any bonus

2) The shareholders will be given extreme power to fire CEOs, Board directors and vote on companies' plans. Shareholders would vote the board of directors.

3) The gov will make it illegal to brokers, investors to make extra money when their funds make money. If they do not return money when the fund their administer loses, they cannot pocket when the fund makes money.

4) Any type of investment that the average American Citizen cannot use, such as naked shorting, options, etc, would be banned to level the playing field.

5) Any institution that benefits form this bailout will automatically decrease all mortgage principals they hold by 5% and decrease the interest by 1%

6) Have the person of Carl Icahn to oversee all this implementation. See his blog to understand why.

please do not leave us, the American People, to again pay for the Wall Street greed. We cannot afford it anymore

Maybe it's time for the very wealthy to start paying a marginal tax rate of 70% again. That's what it was in the early 1980's. I would like to see the very wealthy on Wall Street put their plunder back into the US Treasury that is bailing them out.

Do we want to change the Treasury Secretary during America's worst financial crisis in almost 80 years?

Answer: The elections are in 44 days. Both parties must appear to be decisive. Do something. Unfortunately, the only thing politicians know how to do is load up the taxpayer. And this should be cause for a "crisis in confidence" in and of itself.

I don't know why we have to move so fast to Quickly pass a $700 billion bailout to Corporations of their bad debts, all without any regulation or oversight! "How did we get here? All of a sudden we are facing Armageddon in our financial systems, one day they tell us our economy is fundamentally sound and the next day we're here. King Paulson is asking for the power to make decisions that would be unchecked by Congress, the ability to buy whatever he wants. He is now saying foreign banks should be able to use this program. American tax money we don't have. If this really affects global financial systems, why isn't the rest of the world putting up their balance sheets? Why does American continue trying to do everything by it self? Here we go again, what does this sound like? This sounds like 2001 and 2002 all over again, a time when the Congress gave the President broad powers to fight the war on terrorism, powers that they couldn't get back. WE SHOULD BE VERY CAREFUL!

One of the reasons our government has been free of major problems is the checks and balances designed to ensure major crises are well thought out. Look at the major events of the 20th century, in World War I, President Wilson realized our nation couldn't avoid the war but he made sure that he got the American people behind him, convinced them they should sacrifice for the greater good. In World War II we had the same thing, however, after 9/11 the president told the people they shouldn't change their way of life, he told them they should go shopping. Trillions of dollars have been sent to Iraq and now Americans cannot afford the gas for their cars and the mortgage on their homes. Under this administration, we continue to find our nation in crises, we continue reacting instead of acting, and now they are asking for more unchecked powers, WE MUST BE VERY VERY CAREFUL."

Due to no regulation and short certificate buying, no one knows what loan belongs to who and they may never know. How can that be? It sounds fishy and criminal, and now corporations who are suffering a metl down want to save their own hides on the backs of the American people. We cannot allow this to happen to us again and again -- corporations first, people never. This time it must be people first!

We cannot allow ourselves to be pushed into this decesion based on fear and scare tactics. We must carefully and thoughtfully try to find our way out that will benefit the people this time and not just the corporations, who are only trying to save their wealth, their stocks, their homes, cars, and their Country Club First, way of life.

Greed is the drug that they were all addicted to... the top right down to the underwriters. It hurts families as much as alcohol and gambling.

This bail-out dwarfs the S&L bail-out, and by no means is it guaranteed to work. Wall Street will rebound over the short term, no doubt. But "The Street" knew all along they were too big to be allowed to fail. They knew all along what these no-money-down, no-qualification securitization packages were, and they knew they were doomed to fail. They convinced themselves to rip trillions out of the markets over the short term and hang these dead dogs around the taxpayer???s neck. It was intentional.

All the regulation in the world will not stop the smartest guys in the room from doing it again, if we allow Wall Street to remove the risk from the risk-return relationship. The worker bees on the exchanges are expendable. The money has been transferred.

Treasury and the Fed are putting this bail-out scheme together as we speak. Right now, it is only 2 and ½ pages long. But the fixers all came from the Street. Ergo they remain totally fixated that what is good for Wall Street is good for Main Street. It is not.

Let them fail. We will either go into the tank (depression) or we will not. Loading up the taxpayer with what is now called "toxic loans and real estate" will not stop what is going to happen.

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.~ Sir Josiah Stamp

If the government never got into the business of backing mortgages (Fannie & Freddie) this nonsense never would have happened. It is also time to revisit the Community Reinvestment Act and question the value of its results.

Wrong, Wrong, Wrong. Top down Bailout is wrong approach. Implement Plan "Z" Give every US primary household $50,000 to pay their mortgage and stimulate the economy. This will have the direct affect of making "BAD" mortgages suddenly "good" and the homes will not need to be foreclosed upon. Banks will then not be saddled with excessive bad debt. Paulson's bailout only help the rich at GS and others while the American dream home is still lost. Get the $50,000 out to Americans good for the primary residence. Do it now. Obama and McCain, get together and make it happen, tell Bush and Paulson that they need to trickle up instead of trickle down.

The former CEO of Goldman Sach is self serving his own company instead of the American people. His idea is an alternative, unfortunately, it is from a GS perspective and not from the viewpoint of the common homeowner. My "Plan Z" will help across all levels of America. "Keep moving forward!"

Plan Z is not cheap but it will bring stability and prosperity, ... immediately.
(Sorry renters will not be affected as they currently do not own a home)


Thank you,
Netdroid1

As Harry Truman once said - "the buck stops here". George Bush led us into this mess - with his de-regulation policies that let his friends raid the treasury and place our country in great economic peril. If you're angry about this - and you want to see a stop to this criminal behavior - then get serious about this election! On one side, we have a really intelligent, successful, Harvard educated candidate who knows what he is doing and is confident, and has an extremely capable sidekick. On the other side is a man who thinks the economy is fundamentally strong (it isn't) and tells us he knows nothing about the economy. His sidekick is even less qualified.

We have to take this election serious - and fix this economy! This election is not about personal stories, race, or gender - it is about who has the intelligence and the ability to fix these serious problems. This time the answer is a no-brainer - Obama/Biden. The only question you have to ask yourself is this - is our country better off now then it was 4 years ago?