Two days after the Bail Out Bill failed in the House, the Senate plans to vote on the “$700 billion bank rescue plan,” on Wednesday evening. The Senate Bill “adds new provisions – including raising the FDIC insurance cap to $250,000 from $100,000 – and will be attached to an existing revenue bill that the House also rejected Monday, according to several Democratic leadership aides.” Republican presidential nominee John McCain and Democratic nominee Barack Obama and his running mate...
Monthly Archives: September 2008
Planned Parenthood Cashes in on Sarah Palin
Planned Parent is cashing in on Sarah Palin as the VP nominee for the Republican Party. John McCain’s running mate, Sarah Palin has been a “vocal opponent of abortion,” so pro-choice folks are ponying up to make a statement about Palin’s nomination by donating to Planned Parenthood in her name: “Make a donation to Planned Parenthood,” the anonymous e-mail message urged. “Of any amount. In Sarah Palin’s name.” The message, which began circulating widely on the Internet last week,...
Stampeded by Fear, Scammed by Lies: Why the Bailout Failed
The Republican leaders of the House of Representatives grabbed a half dozen bags of sincerity, looked directly into every TV camera they could find, and lied. The House had just defeated, 228–205, a bipartisan $700 billion bailout bill. But it was the Democrats who were the subject of vicious rhetoric. Speaker of the House Nancy Pelosi (D-Calif.) “poisoned our conference,” screeched Rep. John Boehner (R-Ohio), the Republican minority leader. He said the House would have voted for the bill...
A Must Read Article About Leadership
Leadership has to be one of the key issues we face today as voters. Certainly most DemDaily readers are supporting Obama. There are some that do not. Here is the except of a very interesting Time magazine article about leadership and the reaction of the American Public. I just heard Chis Matthews say that what people want is a Hero. I think he may be right. Our structural lack of outstanding leadership is coming home to roost. A Massive...
FINALLY! Now it’s a Recovery Plan
Gawddamn. After nearly two weeks of screwing the pooch, from a communications point of view, all the reporters today are using the ‘Recovery Plan’ language because the Leadership, as demonstrated by Senator Kerry this morning, in Congress is doing the same thing. It’s about time since this is all an effort to help the economy and banking system recover. Sphere: Related Content
John Kerry on the Economic Crisis
John Kerry had at it with Bill O’Reilly on The Factor last night (h/t News Hounds) on the issue of the economic crisis. Watch it here: This afternoon, Kerry held a press conference to outline the urgency of passing comprehensive economic legislation to avoid the collapse of Wall Street from hitting families and business across the country. Kerry’s statement as prepared for delivery is as follows: Sphere: Related Content
A New Proposal On The Economic Situation And World Wide Reactions in General
A group of Democrats are introducing a new piece of legislation of totally different from the one that’s been worked on for that last week and a half. Based on spotty information I’ve heard on MSNBC they wish to re-introduce a ‘transaction fee’ to every securities transaction. Apparently, according to what Congressman Pete DeFazio said, the Congress doubled this small fee during the Great Depression and it was only removed in 1966. They are proposing somewhere around a 1%...
This Mornings Markets-9/30/08
As of this writing DOW is up 305 points. Now 299 points. Now 286 points. It could bounce another 100 points one way or another. This information comes from Yahoo Finance. A good portion of the up tick are people, like myself if I had any funds in the market, taking advantage of stocks that dropped significant amounts yesterday are buying today. If I was a day trader with significant funds a unbelievable amount of money could be made...
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