Paulson has announced he is spending an additional $600 billion to buy up toxic mortgages: The Federal Reserve announced Tuesday that it will purchase up to $600 billion in mortgage-backed assets, the toxic assets that have been weighing down embattled government-sponsored enterprises like Fannie Mae (FNM: News ) and Freddie Mac (FRE: News ). Buying […]
Joe Lieberman won more than just the vote to stay in the caucus and keep his chairmanship today. He is now the focus of attention of all the blogs on this side of the blogosphere. For an attention whore like Lieberman, that is orgasmic. People need to just forget about Joe and move on. We […]
What does it say for the minority party when they are part of the Congress with the lowest approval rating in history and end up losing more seats to the controlling party?
Is Sarah Palin stupid or just a flat our liar? She touts being some energy expert, yet she doesn’t even know that Alaska exports oil, and tries to say Congress won’t allow it? It’s no wonder more women are going for Obama. Sarah Palin is an insult to them and John McCain proved that he […]
There is a silver lining to what happened today. Congress is in recess until Thursday, meaning they could pass something on Thursday, but that is not very likely. That means we got a debate Thursday night with Sarah Palin and Joe Biden and the economy will be brought up. Considering Palin’s dismal responses to Couric’s […]
Sen. Shelby, the ranking Republican on the Senate Banking Committee, just told Rachael Maddow that he has a letter signed by 200 of the top economists in the country and they are begging for Congress to not rush into this plan. I think that is a very interesting point that should not fall upon deaf […]
Wow: A senior campaign official says that McCain will NOT debate — no matter what — if Congress hasn’t reached an agreement on a bailout package. Got that – give out $700 billion or no debate. I don’t know what country John McCain is from, but here in America we do not negotiate with terrorists. […]
Just now breaking – John McCain is “suspending his campaign” and wants the debate postponed due to the economic crisis. It should be interesting to see how this plays out. McCain says he wants both campaigns suspended until this “crisis is resolved”. Of course we don’t know when that will be. Could this be a […]
That’s where the price tag is heading on the bailout plan. This is getting beyond absurd. Part of the problem is that all the lobbyists are in full force now trying to get their little piece of this gift from the Bush administration and Congress. RIP America 1776-2008
Paul Krugman has looked at the leaked plan for the financial bail out and he is saying “no deal” to it. Basically the plan doesn’t give the taxpayers anything in return. According to his assessment it appears that the feds are trying to scare Congress into giving the money without any explanation of how it […]