Give me a break, a tax break - or else

A bit messy -yet- a smidgen on the road to "getting back on the manufacturing horse-

We have neglected feeding the economic-horse that created an environment allowing credit. American markets rose to their Global Position on the back of New Product Invention / New Product Manufacturing. The world communities bought the electric light, telephone, automobile, aircraft, radio,television,computer, pc, ThinkPad, and NASA (Kennedy's 10 year moonwalk plan)invented decades of a continuous flow of New Product Lines. Global Credit Markets were created with The American Economy atop the horse of Manufacturing.

We may blame deregulation of these markets, lack of oversight, dereliction of duty by many, an ill-educated public, and a varied palette of sins splashed against our credit tapestry but i submit it to be a decrease in our New Product Invention and Manufacturing that yields a poor foundation upon which these errors of judgment fall.

The liquid asset drain must also lay at the feet of our American penchant to immediately satisfy a lust for things rather than save to acquire or rather than 'work' the assets held. We like having 3-5 credit cards then pay the minimum on card #1 with card #3 and add a new purchase to the third. We like the 'No Money Down' deals, the 2 years without interest offer and we have not been informed that those contracts make their way to foreign buyers, drying both credit and liquidity wells from which we freely drink. We do not read the business sections for trends but merely check on our 401k gains. We sign Mortgage Documents without seeing a fraudulent "Balloon-Payment-Clause" due prior to our own solvency or ignore an adjustable interest rate that Chinese Markets may raise prior to our own.

If The United States Government must borrow more money from China then would it not better serve the strategic interest of Global Financial Markets to use the in-place structures? That is to say:

#1 HUD knows fixed assets; buy the bad mortgage paper, turn the resultant fixed asset over to HUD for disposition

#2 SBA knows the liquidity needed by 'the base' or Small Business; deposit enough to let them cover the day-to-day credit required but denied because of the depressed/choked bank lines

#3 The FED, (and/or) The United States Treasury know(s) the larger corporate structures; deposit enough to provide a "Trust Liquidity Fund"

# 4 Provide a direct but temporary 'stimulus package' to tax-payers (with some disdain,) coupled with a severe/aggressive education campaign (and last)

#5 Set the "Let's Go To The Moon Mark" of Venture Capitalization into the next New Product Lines, re-tool abandoned factories, build and sell to the Global Marketplace - "The Horse That Wins."

Yes, I let some banks fail. Yes, I let some corporate structures fail.Yes, I ignore the Wall Street tears. This is for a nation i love more than my own well.

I heard again a top Mccain senior advisor spewing smaller government. The Republicans continue to support the bailout. Republicans are full of it! Smaller government when it suits their purpose but wait lets buy these banks and give these CEOs big golden parachutes. Gee when most bosses screw up they get fired. These CEOs knew their companies were going under and said nothing to the public. I am glad the Republicans can support CEOs and this bailout. The Dems always wanted this so there is no question where they stand. Repubs thank you for confirming the hypocrisy and greed.

How did it start, or should I say, what came 1st? The chicken or the egg? We will never know, the same way that we can not know who is behind the economic crisis of today. In the meantime, somewhere elese in the world, while we are embaressed because they tell us we are not politically correct, green or clean they advance to take over.

I say the lawyers that become politicians, CEOs and judges are the problem. They stick to us every other way, when we don't obey they scare us, to take more insurance, prevent new construction or oil explorarion. They get away, they can blame idiot Bush who also appears to be embarassed.

We are doomed and will never know what came 1st. The crisis or communism.

URGENT, MUST SEE!

McCain sends out misleading information to registered Obama supporters in mailers in many states

 http://www.opednews.com/articles/McCain-s-Absentee-Ballot-M-by-ncvoter-080916-423.html

More Republicans voted against the bailout than Dems. Now that it's being revised and the Americans now fear for their lives... Nothing like fear... Suddenly if you don't vote for this *C-R-A-P* you're the bad guy for tanking the stock market. I think this is a BS scam and we're being conned into a bailout. I blame the banks, the people who got in over their head, and the people who think that excessive anything is okay.

Congress is just incapable of submitting a bill that isn't loaded with pork. Hey...where are all the debate stories? Oh yeah...Palin crushed Biden....

Bush now says this is an "improved" bill because the FDIC limit has been raised from $100k to $250k... but wasn't that in the last bill?

The only "improvement" I see this time around are all the tack-ons, pork-barrel projects, whatever you want to call them...  this is absolutely outrageous!!&

Wool research?, really?!!... 6 Million for kids "wooden arrows"???... WTF?!!!... isn't this all just more "bear DNA" research?... and where's the money REALLY going?

If anything there should be even MORE no votes from the house this time around than last!!

This disgusts me!!!!!!

A lot of Americans feel disgust right now and feel sold out!

Republicans support the bailout. CEOs owe Republicans for the bailout.

PerryJ-- you are absolutely right.
I am so opposed to this. Obama must be thrilled that he now has helped his pals, who already make enough money.

yo PDOC . you are full of Obama my friend.
Look who owns the CEOS and who owes him the most.
Barrack Hussein Obama was given :
$525,000 dollars and the he turned around hired the following for his campaign. !

BARACK OBAMA: $525,000 of contributions from bankrupt Fannie Mae/Freddie Mac and Lehman Brothers. Barack Obama has received more money from this bankrupt and corrupt organization than any other member of Congress. In his very short time as a lawyer, Obama represented clients seeking to force Lenders to provide high-risk, subprime mortgage loans which are now at the center of our nation's major crisis.

FRANKLIN RAINES (Obama Top Advisor): former CEO of bankrupt Fannie Mae who was fired for "accounting irregularities" and was given a $90 million Golden Parachute.

JIM JOHNSON (Obama Top Advisor who chose Joe Biden as V.P.): former CEO of bankrupt Fannie Mae and CEO of bankrupt Lehman Brothers.

PENNY PRITZKER (Obama National Finance Chair): former Chair of bankrupt subprime lender, Superior Bank of Chicago. Paid $450 Million in fines to avoid potential criminal prosecution

what what what was that PDDOC ???? you are stammering worse than Obama when he has to answer a question without being given 2 days to prepare for the answer he is giving !

PDDOC  WAS TOTALLY OWNED BY THE FACTS !

Obama has taken in more money from Fannie and Freddie and hired their top CEOs and it's all FACT ! not Obama fiction !

These dang people make big bucks more than Dr. and they get a tax brake what the hell what about the working class people. Just more crap and Katrina has been year now when do they stand on there own good god. We are still paying for them it is time this end. They got so much more than anyone with ike will ever see. this is so wrong. So not only do we bail out wall street and bank we do move people too

Call your rep no bail out

Franklin Raines is not a top Obama advisor like the above post says that is spin from the right wing that is a total lie. I have proved that over and over again. In fact Obama met the man once for 5 minutes.

The McCain video attempts to link Obama to Franklin D. Raines, the former chief executive of the bankrupt mortgage giant, Fannie Mae. It then shows a photograph of an elderly female taxpayer who has supposedly been "stuck with the bill" as a result of the "extensive financial fraud" at Fannie Mae.

The Obama campaign issued a statement by Raines on Thursday night insisting, "I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters." Obama spokesman Bill Burton went a little further, saying in an e-mail that the campaign had "neither sought nor received" advice from Raines "on any matter."

So what evidence does the McCain campaign have for the supposed Obama-Raines connection? It is pretty flimsy, but it is not made up completely out of whole cloth. McCain spokesman Brian Rogers points to three items in the Washington Post in July and August. It turns out that the three items (including an editorial) all rely on the same single conversation, between Raines and a Washington Post business reporter, Anita Huslin, who wrote a profile of the discredited Fannie Mae boss that appeared July 16. The profile reported that Raines, who retired from Fannie Mae four years ago, had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."

Since this has now become a campaign issue, I asked Huslin to provide the exact circumstances of that passage. She said that she was chatting with Raines during the photo shoot, and asked "if he was engaged at all with the Democrats' quest for the White House. He said that he had gotten a couple of calls from the Obama campaign. I asked him about what, and he said, 'Oh, general housing, economy issues.' ('Not mortgage/foreclosure meltdown or Fannie-specific?' I asked, and he said 'no.')"

By Raines's own account, he took a couple of calls from someone on the Obama campaign, and he or she had general discussions about economic issues. I have asked both Raines and the Obama people for more details on these calls.

THE PINOCCHIO TEST

The McCain campaign is clearly exaggerating wildly in attempting to depict Raines as a close adviser to Obama on "housing and mortgage policy." If we are to believe Raines, he did have a couple of telephone conversations with someone in the Obama campaign. But that hardly makes him an adviser to the candidate himself -- and certainly not in the way depicted in the McCain video release.

ONE PINOCCHIO: Some shading of the facts; TWO PINOCCHIOS: Significant omissions or exaggerations; THREE PINOCCHIOS: Significant factual errors; FOUR PINOCCHIOS: Real whoppers; THE GEPPETTO CHECK MARK: Statements and claims contain the truth, the whole truth and nothing but the truth.

logdump...you really personify your handle.  raines was an advisor for almost a year, before being forced out this summer over the fannie mae collapse. 

he presided over the creation of the subprime market, he was lauded by barney frank, chris dodd, and maxine waters for it.  the video is on c-span...of it all. 

The Demacraps aer big -time beholden to the HollyWierd commies, so of course the studios need a tax break break! BTW where the news coverage by the liberal left meadia about Palin kicking Biddnes butt in the debates? Yet another example of how the truth is censored by the liberal
Commie "News" Network.

Agreed. Those items should be on seperate tracts. These "sweeteners" make a bad taste in my mouth. I guess they we to appease the Republicans who seem eager for bigger government.

OH BS BUDDY !
Look who got the arrows , A republican yes, but also a democrat ! now be fair people !
It was bi-partisan additions to the bailout ! not just Republican additions !
Look how much money Obama took from Fannie and Freddie and how he quickly hired all their fallen CEOS for his campaign team ! to the tune of !
$$$525,000 dollars

BARACK OBAMA: $525,000 of contributions from bankrupt Fannie Mae/Freddie Mac and Lehman Brothers. Barack Obama has received more money from this bankrupt and corrupt organization than any other member of Congress. In his very short time as a lawyer, Obama represented clients seeking to force Lenders to provide high-risk, subprime mortgage loans which are now at the center of our nation's major crisis.

FRANKLIN RAINES (Obama Top Advisor): former CEO of bankrupt Fannie Mae who was fired for "accounting irregularities" and was given a $90 million Golden Parachute.

JIM JOHNSON (Obama Top Advisor who chose Joe Biden as V.P.): former CEO of bankrupt Fannie Mae and CEO of bankrupt Lehman Brothers.

PENNY PRITZKER (Obama National Finance Chair): former Chair of bankrupt subprime lender, Superior Bank of Chicago. Paid $450 Million in fines to avoid potential criminal prosecution.
ALSO remember, the Democrats don't need the republicans at all ! to pass anything !
they have control over the house ,senate and congress , and they still can't get JACK done !  typical democrats ! allways looking out for themselves ! and not thinking of US the tax payers !  ask youself a question.
when was the last time ANY democrat leader passed or gave anyone a tax break !  NEVER ???  they are so fast to raise to raise your taxes and so quick to LIE about it.

The McCain video attempts to link Obama to Franklin D. Raines, the former chief executive of the bankrupt mortgage giant, Fannie Mae. It then shows a photograph of an elderly female taxpayer who has supposedly been "stuck with the bill" as a result of the "extensive financial fraud" at Fannie Mae.

The Obama campaign issued a statement by Raines on Thursday night insisting, "I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters." Obama spokesman Bill Burton went a little further, saying in an e-mail that the campaign had "neither sought nor received" advice from Raines "on any matter."
So what evidence does the McCain campaign have for the supposed Obama-Raines connection? It is pretty flimsy, but it is not made up completely out of whole cloth. McCain spokesman Brian Rogers points to three items in the Washington Post in July and August. It turns out that the three items (including an editorial) all rely on the same single conversation, between Raines and a Washington Post business reporter, Anita Huslin, who wrote a profile of the discredited Fannie Mae boss that appeared July 16. The profile reported that Raines, who retired from Fannie Mae four years ago, had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."
Since this has now become a campaign issue, I asked Huslin to provide the exact circumstances of that passage. She said that she was chatting with Raines during the photo shoot, and asked "if he was engaged at all with the Democrats' quest for the White House. He said that he had gotten a couple of calls from the Obama campaign. I asked him about what, and he said, 'Oh, general housing, economy issues.' ('Not mortgage/foreclosure meltdown or Fannie-specific?' I asked, and he said 'no.')"
By Raines's own account, he took a couple of calls from someone on the Obama campaign, and he or she had general discussions about economic issues. I have asked both Raines and the Obama people for more details on these calls.

THE PINOCCHIO TEST

The McCain campaign is clearly exaggerating wildly in attempting to depict Raines as a close adviser to Obama on "housing and mortgage policy." If we are to believe Raines, he did have a couple of telephone conversations with someone in the Obama campaign. But that hardly makes him an adviser to the candidate himself -- and certainly not in the way depicted in the McCain video release.

On top of the above contributions from fannie mae all of which were from employees not top officials totaled 125,000 bucks and that is in the disclosure. The rest of your post is probably just as inaccurate. Now who sucks?

Jim Johnson, the former chairman of Fannie Mae who was one of three advisors tapped by Democrat Barack Obama to vet vice presidential candidates, resigned today after questions were raised about favoritism he may have received from Countrywide Financial Corp.

Insisting he had done nothing wrong, Johnson issued a statement saying that he did not want the flap over his mortgage to distract attention from Obama’s run for the presidency.

“I would not dream of being a party to distracting attention from that historic effort,” Johnson said. “I believe Barack Obama’s candidacy for president of the United States is the most exciting and important of my lifetime.”

Johnson, 64, ran Walter F. Mondale’s 1984 presidential campaign and helped John F. Kerry in his vice presidential search in 2004. Johnson was part of a three-person team – including Caroline Kennedy and former Deputy U.S. Atty. Gen. Eric Holder – appointed by Obama to cull the prospective candidates for vice president.

The man quit his position in June and you made out like he is still there

Who's to blame for the failure of Superior Bank, the Illinois thrift half-owned by the Pritzker family?

Depends on whom you ask. On Nov. 1 the Federal Deposit Insurance Corp. pointed the finger at Ernst & Young, Superior's auditor, in a fraud suit filed in federal court here. But that action comes two months after a group of Superior depositors accused the bank's owners and directors, including two members of the Pritzker family, of racketeering, claiming they lined their pockets with money looted from Superior savings accounts.  the complaint alleges, the thrift's directors were sucking money out of the thrift by collecting dividends totaling $200 million on Superior's earnings--earnings that, as it turned out, didn't exist. The bulk of those dividends--$188 million--was paid to Coast-to-Coast Financial, the holding company that owned Superior and was controlled by Tom Pritzker and business partner Alvin Dworman.

Superior, a suburban Chicago savings and loan, collapsed in early 2001 under the weight of half a billion dollars in subprime loan defaults and improper accounting that had overstated the thrift's assets by $420 million.

The FDIC's allegation against Ernst & Young made big headlines over the weekend. It seeks $2 billion in damages and claims the firm hid accounting errors at Superior to avoid a scandal that might have interfered with the $11 billion sale of Ernst & Young's consulting group in June 2000. But the FDIC's complaint doesn't implicate Superior's owners or management. In fact, it goes out of its way to sing the Pritzkers' praises and doesn't mention that the family will reap 25% of whatever the FDIC recovers from Ernst & Young.

     The other lawsuit was against the bank brought by 3 depositors who lost 20 million and they are trying to recover it by suing

Stephen Novack, the Chicago lawyer representing all the defendants in the racketeering case except Ernst & Young, says the claims have no merit. Next week he will ask the court to dismiss the case. Ernst & Young did not return calls seeking comment.

The plaintiffs, whom the complaint describes as "conservative and unsavvy investors," say they were induced to buy certificates of deposit worth at least $100,000 with the assurance that their savings would be federally insured. But, they claim, many of those accounts were not properly insured, leaving them with no recourse when the bank went belly-up last year.

pritzker is a hussein obama aide.  deal with it.

Oh, I thought it was really more of a way to feign concern about a bill, giving the appearance of thought for our benefit, by pre-selecting some holdouts.  Probably on a rotating basis.  Then when they 'have' to pass it, they can at least say they tried.  I suppose they do need a way to leave the door open long enough for the pork-hangers to have their say, though.

I see a lot of Repubs voted yes. Oh wait I am sure they did not since it is for bigger government.

This bill failed because of REPUBLICANS not voting for it. Everything being added is to gain support from the republicans, something McCain miserably failed at.

Democrats? Those were put in there for House Republicans to get their votes I thought

we don't need the bailout.  we need congress to 1) repeal the 1977 CRA; 2) repeal the 1993 legislation directing fannie and freddie to make secondary market available to  subprime borrowers; 3) the SEC (and FASB) repeal mark to market accounting (which is equally responsible for this); and 4) make franklin raines and his supporters (frank, dodd, pelosi, hunter, meeks, maxine waters, etc et al) return every dime they made during their tenure, and recipients of fannie and freddie campaign contributions return those contributions.

it would be even better if they all had to go on tv to explain their complicity in this.

as to the tax breaks...every senator and congressman loads up bills with this sh*t, 90% of it vote-buying. as for the incentives given to businesses...they don't even come close to levelling the playing field with our global competitors. our companies have been at a tax (and manufacturing incentive) disadvantage since the 1939 internal revenue code. so get used to seeing more of the manufacturing base go overseas.

Third parties have no chance.  Better get involved with the two we have and try to clean house from the inside out.  Obama is probably not even a citizen, consorts with terrorists both domestic and foreign, was paid off by Fannie and Freddie not to push for more regulation and we just let him have a pass. 

Marie
I 'm happy the Founding Fathers did not have that attitude.  Both Parties need a 20 spanking.  NO DEMS of GOPS. 
It's really that easy. 

An Independant candidate looks real good to me right now.  Forget next time around, Vote libertarian now and get rid of both parties.  That would shake them up.

A vote for the 3rd party right now does nothing as there is no viable candidate.  In 4 years, we need to insist on a 3rd party available for every office up for election.

Your third party is Ralph Nader, he is an amazing person. Go GREEN...remember we dont just have to vote for Dem or Rep.

Vote libertarian now and get rid of both parties.  That would shake them up.

Go GREEN...remember we dont just have to vote for Dem or Rep.

Yes that is the only peacefull option to change things.  Unfortunately, 99% of voters are all talk and no action...including most, if not all here on the Newsvine boards.  They just don't have the balls vote for anyone outside thier comfort zone.  Sure they talk....but in reality, that is all they do.  An extreamly disproportionate amount of votes can only see the Elephant or Jackass.

Demcrate Fienstien from CA stated publically on the news last night that her offices had recieved 91000 phone calls regarding the 'bailout'.  85000 of those where against the bailout....she voted "Yay".  Do you know why.....read the above paragraph.  ALL of our elected officials know that the voter doesn't have the spine to move off the status quo...it's that simple. Our officials can bend us over in the middle of Times Square at rush hour and take turns on us and you will STILL vote for one of those parties. ALL TALK.

No one is going to vote for an independent because 1/3 of the peoples grandparents were Democrats, 1/3 of the peoples grandparents were Republicans, and the other 1/3 could care less.

CCDesign, you hit the nail right on the head. When it comes time to vote, these politicians have by and large figured out that all they have to do is count only on a margin of voters to carry them through as they have to pay no attention to the ones already in their cornor or ones that will not show up at the poles. They also count on two other things: 1) the American people (Mr/Mrs/MS Citizen) have short memories (if any at all) - tomorrow is a brand new day to 99% of the citizenry of this country and what happened yesterday (or last night) is "old news". 2) All these weasels have to do at election time is come around and glad hand a few folks in front of the TV cameras and say a few words (that they have NO intention of remembering or carrying through) to the awed "Mr/Mrs/Ms Citizen" that they think they want to hear, and then ride off into the sunset knowing their chances are almost assured of going back to DC. Meanwhile, the "citizen", sometime down the road, sees something similar to what Feinstein pulled off, and he/she acts like the good senator bodyslammed her constituents. In point of fact, Feinstein knew EXACTLY what she was doing - as did all the others in that chamber last night.

Did Feinstein get any mail today about her postion and regard for what her constiuents were telling her. She might have gotten some; but, remember, today is a new day, and that is "old news".

This treatment is not going to change until Mr/Mrs/Ms "Citizen" wakes up and makes it clear that these people work for us - not special interest groups and not themselves. However, watch the election totals next time, see how many "citizens" vote, how many hold Feinstein and others who enjoy the "pulling our chain" game accountable.

The problem is that the other parties are fielding a bunch of goof balls.

"The problem is that the other parties are fielding a bunch of goof balls."

See what I mean?

You don't even have to be legal to vote. 

Next year it's all mail in ballots.

For this year, I am voting against Sam Reed.

FirLdy--The Democrats had a lot more push pork in the first version.  Just hope ACORN is gone this time.

marie thomson:  Nobody should be getting anything as far as I am concerned.  I am starting to believe there is no hole in the dike.  I'd love to call their bluff.

marie thomson:  I try to keep up with it all.  Things slip through.  I just Googled "ACORN."  I thought to myself, sounds like an umbrella group for Hurricane Katrina victims.  Went to the web page and sho nuff...Hurricane Katrina and Ike.  I'm from a Gulf state.  HO insurance has gone way up, real estate tanked.  The big picture to me is EVERYBODY gets help or we fall together.  Tired, tired, tired, of the special interests getting the help through the back door.

I'm afraid everybody is going to wake up on November 5, 2008.  But it will be too late then. 

Let's do it!!!!!!!!!!!!  Let's make our children proud!!!! Our Grandchildren, your grandchildren and your neighbors children and grandchildren!!!!!!!

Think about Obama's TV ads..."MY ? White House will have no special interest groups running it"...YET, he voted YES for this "bailout" bill WITH all the "Special Interests"..SAME OLE POLITICIAN...SAME OLE CRAP!!!!   

Bush was for big spending on the war. Bush is for big spending on the bailout. Bush is for whatever can make America into Mexico after they buy us.

Oh, but it will be illegal to own a bow. After all, you might hurt yourself.

We start with a simple 3 page bailout plan to help major financial institutions. Not passed! So we add 397 pages of special interests, pet "earmarks" and lobbyists requests and we end up with a 400 page bill that McCain, in particular, has forcibly said he will veto if it "ever comes across my desk when I'm President", and what does he do? He approves it.......makes you think doesn't it!!

What we should do is wait. Have hearings like they should. Listen to ideas. Bush is pushing this before he gets out and that is dangerous. Afew days ago the economy was safe and in order. Now its panic city.

Mel Martinez assured me he would look out for us Floridians in the bailout mess.  I'd love to know what he really did for us.

       I contacted Nelson. Martinez has been such a rubber stamp for Bush , for so long, I don't even bother anymore.

  I checked, Martinez voted (yes) for the bail out, and Nelson voted No. Nelson also floated his own alternative plan. Martinez has always been a Bush puppet. Nothing will change that.

the problem with your suggestion leprechaun, is that most of the media is in the tank for this bailout, predicting calamity if it fails.

since most of the media votes left, they favor big government takeover of the private sector. so how would anyone opposed to it get a fair hearing?

scar---martinez is no more a puppet for bush than nelson is ACORN and the dnc, by encouraging fannie and freddie to continue subprime lending.

You won't be able to afford the rum or the clean water.

I see a lot of calls to get them all out of office, the problem will be replacing them.  Nobody wants the job except the greedy, power hungry.