- Mombian » Blog Archive » Sarah Palin Almost Convinced Me – Sarah Palin almost got me. Not that I’d ever vote for the McCain/Palin ticket, but I was almost convinced that Palin had a spark of understanding about LGBT issues when she said of “one of my absolute best friends for the past 30 years, who happens to be gay,” that “She is not my gay friend, she is one of my best friends. . .” Well put. Then she blew it.
- Dean Baker: Responsibility and the Bailout: Will They Resign If It Fails? – If it is not possible to stop the bailout, how about a fallback position? Perhaps we can force our political leaders to take responsibility for their actions. Remember, we are only in this economic mess because the people who designed this bailout (Treasury Secretary Henry Paulson, Fed Chairman Ben Bernanke, and President Bush) failed to stem the growth of the housing bubble. Rather than take responsibility for this disaster, they are demanding $700 billion bailout to patch up their mistakes. How about a commitment to take responsibility this time?
- Sen. Bernie Sanders: Don’t Make Working People Bail Out Wall Street – This country faces many serious problems in the financial market, in the stock market, in our economy. We must act, but we must act in a way that improves the situation. This bill does not effectively address the issue of what the taxpayers of our country will actually own after they invest hundreds of billions of dollars in toxic assets. This bill does not effectively address the issue of oversight because the oversight board members have all been hand picked by the Bush administration. This bill does not effectively deal with the issue of foreclosures and addressing that very serious issue, which is impacting millions of low- and moderate-income Americans in the aggressive, effective way that we should be. This bill does not effectively deal with the issue of executive compensation and golden parachutes. Under this bill, the CEOs and the Wall Street insiders will still, with a little bit of imagination, continue to make out like bandits.
- How Does Iraq Play Into the Economic Crisis? | The American Prospect – The focus is on our unstable credit markets — but we shouldn't forget that Bush's foreign policy has exacted its own costs on our economy.
- Editorial – Show Us the Hope – NYTimes.com – At last count, six million people were expected to default on their mortgages this year and next, putting them at risk of losing their homes unless they can catch up in their payments or catch a break on their loan terms. And they’re not the only ones at risk. As prices drop, millions of people who have never missed a mortgage payment stand to lose their home equity. Leaving these Americans out of the bailout bill is unwise and unfair, but neither Congress nor the Bush administration has ever shown anywhere near the sense of urgency to rescue homeowners at the bottom of the collapse as they have for the financiers at the top of it.
- TPMCafe | Talking Points Memo | The Almost-Done Deal, and the Era of Angry Populism – While more Americans are coming around to "supporting" the bailout bill, the vast majority still hate the idea of bailing out Wall Street. They're for the bailout bill now only because they fear that a failure to pass it will have worse consequences — drying up credit at a time when Main Street is struggling. But make no mistake: America is mad as hell. They resent what they perceive as extortion by the Masters of the Universe.