Wall Street Bailout or GOP Nightmare? by BrianInNYC

The week should prove to be very interesting, and will give the American people a striking contrast of just what the two major political parties believe in. While the Democrats will be fighting tooth and nail to make sure it’s not just the fat cats that are protected by the bailout, there will be many within the GOP who are ideologically opposed to any bailout. Not to mention the entire concept of regulation of the markets, and if there is one thing repugs hate more than queers and abortions it’s regulation of the markets. I have serious reservations that Bush/McCain are going to be able to hold their troops in check and pass a much needed bailout plan.

Already Senator Obama is demanding that any bailout include helping people stay in their homes and allows for heavy congressional oversight.  Something not included in the Paulson plan, and something that may prove difficult for many repugs to swallow.

It’s going to very hard for many,  if not most of the GOP members of congress to return to their conservative districts and justify a massive tax payer funded rescue. On one side of the aisle you’re going to have the Democrats fighting for Main Street, on the other side of the aisle you’re going to have Republicans fighting for as little regulation and help as is possible. My bet says the public is going to feel a lot more warmly to the Democratic position then the Republican one.

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29 Comments

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29 responses to “Wall Street Bailout or GOP Nightmare? by BrianInNYC

  1. dnd

    Obama speaking in Green Bay just now:

    “We can’t get a blank check to Washington with no oversight and no accountability when no oversight and no accountability got us into this mess.”

  2. horsedooty

    I think I will reconsider my bailout thoughts. This may not be what I thought was gonna happen.

  3. Steve

    I’m in the box gang. I am the 25th voter in my county and my ballot has been cast for Obama. Its in there.

    I even wrote in my name for a local race against a GOPer (he was unopposed).

  4. dnd

    Dow’s down 373.

    Dollar’s down, oil’s up, gold’s up.

    It’s all about confidence.

  5. dnd

    This is kind of a disturbing piece on Alaska’s “first dude” and the way he and his wife use their power:

    http://www.washingtonpost.com/wp-dyn/content/article/2008/09/21/AR2008092102546.html?hpid=topnews

  6. dnd I find both these people, the Palins, to be down right creepy!

  7. horsedooty

    I agree with both of you disturbing and creepy.

  8. dnd

    Seems to me that they don’t mind abusing power. Make the “Bush in a skirt” narrative even more appropriate. Not to mention they’re not too bright.

  9. horsedooty

    this is starting to scare the shit out of me.

    A critical – and radical – component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8 (which ironically reminds one of the popular name of the portion of the 1937 Housing Act that paved the way for subsidized affordable housing ) of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that’s so flat-out astounding that it ought to set one’s hair on fire.

    http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html

  10. horsedooty

    this is what is scaring me:

    Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

  11. September 22, 2008, 6:11 pm
    Daddy doesn’t know best
    Paul Krugman

    I’ve had more time to read the Dodd proposal — and it is a big improvement over the Paulson plan. The key feature, I believe, is the equity participation: if Treasury buys assets, it gets warrants that can be converted into equity if the price of the purchased assets falls. This both guarantees against a pure bailout of the financial firms, and opens the door to a real infusion of capital, if that becomes necessary — and I think it will.

    http://krugman.blogs.nytimes.com/2008/09/22/daddy-doesnt-know-best/

  12. horsedooty

    it seems to me that if conservatives want less govt what will the Repugs do for a job. Aren’t they part of the govt they despise? They want to be on the govt tit but they don’t want to have to work for the good of the country.

  13. Doots many talking heads including our crazy uncle Tweety have pointed out that McCain frequently seems to running against himself.

  14. LEESBURG, Va. — A McCain administration would discourage Israeli-Syrian peace talks and refrain from actively engaging in the Israeli-Palestinian peace process.

    http://www.jta.org/cgi-bin/iowa/news/article/2008092220080922bootdanzig.html

  15. dnd

    “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

    I doubt if that’s constitutional.

  16. The first Fox News/Rasmussen Reports telephone survey in Michigan the state finds Barack Obama attracting 51% of the vote while John McCain earns 44%. An earlier Rasmussen Reports survey found Obama with a five point advantage two weeks ago. In August, Obama held a four-point advantage.

    http://www.rasmussenreports.com/public_content/politics/election_20082/2008_presidential_election/michigan/election_2008_michigan_presidential_election

  17. I think Vancouver is supposed to be nice…

    Last night, my mother was over, okay blah blah blah…then I said, ” well, if Obama doesn’t win this thing…….”

    She finished my sentence and said, “…..you’ll have move to Canada.”

    I was stunned….lol

  18. Screw Van City, I’m heading for the Riviera.

  19. Sound wonderful, I’ll be visit when the snow starts falling 😛

  20. sounds / visiting….i can’t type to save my life

  21. WASHINGTON (CNN) – A new CNN/Opinion Research Corporation Poll suggests that by a 2-to-1 margin, Americans blame Republicans over Democrats for the financial crisis that has swept across the country the past few weeks — one factor that may have contributed to an apparent increase in Barack Obama’s edge over John McCain in the race for the White House.

    http://politicalticker.blogs.cnn.com/2008/09/22/republicans-blamed-obama-gains-over-financial-crisis/

    Go figure!

  22. Good morning peeps, new Quinnipiac WSJ poll out this morning:

    Michigan Obama +4

    Minnesota obama +2

    Wisconsin Obama +7

    Colorado Obama + 4

    http://www.realclearpolitics.com/epolls/2008/latestpolls/index.html

  23. chefsheila

    Amen! Good Morning.

    I have to repeat Doots.

    This is scaring the shit out of me…..

  24. chefsheila

    The bright light beyond the rainbow right now is Real Clear Politics!!!!!

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