Things that make you want to vote for McCain/Palin even more:
Chuckle as Katie receives an object lesson on why Sarah Palin was nicknamed “barracuda”.
Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.
“Now is not the time to fix the blame, Now is the time to fix the problem” – John McCain
Well, it would be prudent to remind the good people that in 2004, the Dems were claiming that there was no looming problem:
Before you consider taking a long walk off a short pier in response to this failed boondoggle, consider that the market has seen far worse times and has bounced back:
From September 2000 to January 2, 2001, the NASDAQ dropped 45.9%. In October 2002, the NASDAQ dropped to as low as 1,108.49 – a 78.4% decline from its all-time high of 5,132.52, the level it had established in March 2000.
Barak claims all the glory for this bill. Then again perhaps he should since he was one of the architects of this mess:
Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.
Can any say – SUB PRIME LENDING!!!
Oh, have a mentioned that Palin Rules!
Via DC Examiner:
House Republican Whip Roy Blunt’s office provides a side-by-side comparison of Treasury Secretary Henry Paulson’s original Wall Street bailout proposal with the final compromise agreed to over the weekend by congressional and Treasury negotiators
Via the House GOP Office – H/T Gateway Pundit for noting the pork that the GOP was able to remove from this bailout. I’d love to link to a copy of the bill, but there is none to link to.
Two points to keep in mind:
** We have yet to see legislative language. House Republicans have said the bill language should be posted online for public review at least 24 hours before the vote.
** House Republicans will meet later today to review these changes and determine next steps.
Help for Main Street:
** If after five years, the government has a net loss as a result of the purchase program, the President is required to submit a proposal to recoup those losses from the entities that benefited from this program. [Negotiated by House GOP]
** Provides for warrants of non-voting stock in companies receiving assistance so that taxpayers have an opportunity to recoup any losses.
** Allows community banks to take capital losses on Government Sponsored Entity (GSE) assets against ordinary income, providing much needed relief for local banks. [House GOP Priority]
** Authorizes government agencies that hold mortgages to do work-outs with troubled borrowers provided such workouts do not harm the interests of taxpayers. [Negotiated by House GOP]
Assistance Funded By Wall Street, Not Main Street:
** Requires the establishment of an insurance guarantee program that in lieu of purchasing assets with taxpayer funds is available to insure assets at no cost to the taxpayer. Costs would be fully paid for by participating companies (i.e. those receiving the assistance). Assets insured by the program would count against the total funds the Secretary would otherwise have available to make purchases. [House GOP Priority]
Eliminating Special Interest Earmarks:Prior to House Republicans stepping in, Democrats had loaded up the bill with special interest provisions. Provisions removed by House Republicans include:
** Provision to provide unions and other activist groups with proxy access for corporate boards
** Provision to mandate shareholder votes on compensation issues (union priority)
** Diversion of funds into a housing fund to support left-wing activist groups like ACORN
** A provision to allow trial judges to arbitrarily adjust mortgages, creating bonanza for trial lawyers
** A provision to require the government to sell to state and local governments at a discount homes the government acquires as a result of foreclosure
Ed Morrissey posted a ‘Myth vs Fact’ sheet from his source close to the bailout compromise. Just like the DC Examiners side-by-side comparison is shows how much influence the GOP lawmakers had on this alleged final draft. I’d love to link to the draft, but it is not available.
Michelle Malkin advocates Kill The Bill
Newsbusters has reported that the father of Sgt. Ryan David Jopek had requested Obama to stop wearing his son’s KIA bracelet.
Barack Obama played the “me too” game during the Friday debates on September 26 after Senator John McCain mentioned that he was wearing a bracelet with the name of Cpl. Matthew Stanley, a resident of New Hampshire and a soldier that lost his life in Iraq in 2006. Obama said that he too had a bracelet. After fumbling and straining to remember the name, he revealed that his had the name of Sergeant Ryan David Jopek of Merrill, Wisconsin.
Shockingly, however, Madison resident Brian Jopek, the father of Ryan Jopek, the young soldier who tragically lost his life to a roadside bomb in 2006, recently said on a Wisconsin Public Radio show that his family had asked Barack Obama to stop wearing the bracelet with his son’s name on it. Yet Obama continues to do so despite the wishes of the family.
I am deeply disturbed by this. Although this is not a new occurrence, the families of dead soldiers have had their request for their deceased loved ones names to be removed from anti war exhibits coldly denied:
A commenter (the bronze) at Flopping Aces puts this action by Obama in context:
What a freaking tool! I don’t have to look at my KIA bracelet to remember his name. I brought his body back from Iraq. And I didn’t have to look at the MIA bracelet that I wore for almost 20 years before that, either, because I met his parents so I could get to know the man I wore on my wrist. I’ll never forget their names as long as I live. But to Barry O’Bama, a KIA bracelet is a political prop, just like the American flag pin he now wears on his lapel. The same one he refused to wear a little while ago… He’s a disgrace.
Is it not surprising Obama had to peek at the bracelet to get the name of the soldier. Why would he care about the name of soldier in a war he objected to and voted to cut funding for political expediency.
Shamelessly borrowed from Flopping Aces:
The difference is everything:
This Ain’t Hell has a great post debate wrap-up. I’ll post my thoughts and links to others when I return from the West Chester Pro Victory Rally.
Red State makes the following observation – perhaps a new drinking game?
Eight times tonight the freshman Democrat Senator from Illinois has responded to questions and McCain answers by saying, “John is right.”
Further, he listened to McCain’s exceedingly knowledgeable response on Georgia by saying, in essence, “What he said.”
Tonight, Senator Obama has reinforced the simple fact that – if he can shed the arrogance he wears on his sleeve – he is very well prepared to be an understudy of an experienced, knowledgeable, principled President of the United States.
Unfortunately for Obama and for the party that nominated him, America doesn’t elect understudies President — she elects Leading Men.
Interestingly enough, no one in the media had a problem with the alleged ‘elitism’ of Lady Lynn when she was donating large sums of money to the DNC.