There’s a lot of finger pointing going on in the wake of the Bail Out Bill failure in the House today (see Roll Call vote here). Barack Obama said today that “he believed Congress would ultimately pass a proposed $700 billion financial bailout deal, despite its initial rejection by the House of Representatives.” “I’m confident that we’re going to get there. It’s going to be a little rocky,” said Obama, who added that “things are never smooth in Congress.” The Democratic White House hopeful said he had spoken by phone with Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi and other lawmakers following the rejection of the measure by the House. “The stability of our entire economy is at risk so … Continue reading
What a wild roller-coaster ride the last few days and certainly the last few hours have been! I’m just relieved that the market is closed right now because I was getting dizzy watching it. There’s a lot of wild stuff in today’s Ten Post Round-Up. But, before we get into that, let’s see what our favorite uncle has to say about all this: Uncle Jay Explains The News. On with today’s round-up:
UPDATE #3 Pelosi has made her statement that this had been a wholely bipartisan effort. Barney Frank said he was incredulous that ‘people could get their feelings hurt so they hurt the country instead.” Everyone is making the point that each member of leadership made a commitment to deliver a certain number of points. The Democrats delivered more than they promised. The Republicans couldn’t deliver their votes. Chuck Todd, the political analyst, points out that anyone with a tight race voted against this bill including Mark Udall of New Mexico running for the Senate. He earlier, though, made the point that of the 12 votes that apparently changed this morning on the Republican side only 5 were in tight races. … Continue reading
The NY Times reports that the House is bracing for a “difficult vote set for Monday on a $700 billion rescue of the financial industry after a weekend of tense negotiations produced a plan that Congressional leaders portrayed as greatly strengthened by new taxpayer safeguards.” The 110-page bill, intended to ease a growing credit crisis, came after a frenzied week of political twists and turns that culminated in an agreement between the Bush administration and Congress early Sunday morning. The measure still faced stiff resistance from Republican and Democratic lawmakers who portrayed it as a rush to economic judgment and an undeserved aid package for high-flying financiers who chased big profits through reckless investments. The bail out package looms as a … Continue reading
Contrary to the media’s constant harping this action bails-out Main Street, so we can all get car loans, student loans, credit loans to support our business. If this doesn’t happen then yes the financial markets will meltdown but the impact will be felt most heavily on our homes, on our employers, on our businesses and more. The servers are jammed. Try again and again. UPDATE (from Pamela): CNN Money has the draft of the plan here in PDF. UPDATE 2 (from Pamela): The Emergency Economic Stabilization Act of 2008.
I’ve been a Communications Director. I’ve been in the back of the room restating my candidates words to best effect. I’m good at it. Sorry. That’s not modest yet I believe it true. I’ve sure had a lot of practice trying to bring voters to my candidates point of view or candidacy either in an audience format or one-on-one. That’s never easy if you are converting deeply Republican or opposition voters. Do you know the one thing I’ve never had to do? LIE. Yet again and again, as I’ve monitored these last crucial days I’ve seen Republican strategiests simply lie. If I had seen a Democratic strategist lie I would call them on it too. I just saw a Republican … Continue reading
Over the past few weeks I have noted in a few posts that I am preparing to move across country. I’ve kept meaning to write more about the move and let readers know what’s up but have been so busy with all the preparations, that I haven’t had time to blog about much of anything some days (once I am re-settled in my new home Down East, I’ll be writing more). So here’s the scoop, readers… After 19 long years of living in Los Angeles (San Fernando Valley), I am moving back to the East Coast. I am originally from a small city on the coast of Massachusetts — Newburyport. I am heading further North in my move however, and … Continue reading
From TPM This is the Joe Biden that I hope shows up next Friday.