Bailout Update

Apparently, as are much things in life, the initial facts about the ‘new’ bailout package were not nescessarily reported accurately by news outlets.  I was just reading Daily Kos and they are doing an ‘oops’ too.
The bailout package is not the blatant pork barrel package that it sounded like this morning.   What the Senate [...]

Obama Showing True Leadership Today

Mr. Obama was on the Floor of the Senate today speaking for the bailout package.  As the leader of his party, he felt it important to go on record on the Floor to address the vote tonight.
Mr. McCain, who dropped everything to screw up the original bill and did not stay until a deal was [...]

The Bailout Package gets a lot WORSE!

As much as I don’t like the idea of passing the $700B bailout package, I thought it was a necessary evil the had to get done.  I think Republicans were to blame for it’s failure and the stock market correction on Monday.
Well, with the participation of the Democrats, they have now taken a gut-wrenching bill and [...]

Article: The Telegraph – Financial Crisis

An article from the Telegraph in London provides some good comentary on the significance of not passing this bail-out package:
Financial crisis: Western world will become significantly less wealthy
In one fell swoop, the House of Representatives has applied a sledgehammer to the American economy. The staggering plunge in the value of publicly quoted stocks in [...]

Will Wall Street now Bail on The GOP?

The market closed down 777 points today – or 8%.  The figures I’ve been hearing state that this is about 1.2 trillion dollars worth of wealth that just vanished.  That 1.2 trillion dollars (nearly twice the bailout) is held by a lot of different interests, but particularly the Republican base – free market capitalists and [...]

Leadership at the White House

Per the Daily Kos:
“Yesterday, McCain swooped into the White House meeting, and by all accounts he said very little, was disruptive and Obama actually led the meeting (by questioning Paulson and House Republican’s). Now, how’s that for true leadership?
At the end, Obama had to speak directly to McCain to enunciate a response, after McCain sat [...]

McCain Did Not Read Paulson’s Plan!

I first heard about this the other day and wasn’t near a computer to blog about it.  But this article from The New Republic refreshed my memory: McCain Didn’t Bother to Read the Bailout Plan?
Why is this important?  Well – First, it doesn’t show a leader who is paying close attention to the crisis, as [...]