Election Central Morning Roundup
Tonight: The Debate
The first presidential debate is scheduled for 9 p.m. ET tonight at the University of Mississippi. Barack Obama will be showing up, while John McCain has not committed to coming yet. McCain will probably show up in the end, but at this point the possibility can't be entirely discounted that Obama will have the stage all to himself at Ole Miss.
Candidates In DC Today, Working On Bailout
The presidential nominees are in Washington today, as negotiations drag on for the Wall St. bailout, before Barack Obama and perhaps John McCain leave for a debate in Mississippi. It is not clear if the impasses that derailed a deal last night will be resolved today in such a manner as to reach the main goal: That some kind of deal be passed with the support of a majority of both parties.
Biden Blames GOP -- And Possibly McCain -- For Bailout Failure
Joe Biden told donors at a fundraiser last night that the Republicans were to blame for the failure of the bailout talks, singling out JOhn McCain. "We were going to all put this behind us and then I'm told that things changed," Biden said, "that John McCain landed about four o'clock and all of a sudden -- I don't know what the reason -- but some of the House Republicans decided that this, this wasn't going to go forward, at least not right away."
Poll: McCain's Lead Slips In Florida
The new Rasmussen poll of Florida gives John McCain a bare lead of 48%-47%, within the ±4% margin of error. The previous poll, conducted Sunday night, had put him ahead by a 51%-46% margin.
Polls: Tight Race In Missouri, McCain Narrowly Ahead
A new Research 2000 poll gives John McCain a 47%-46% lead in the perennial swing state of Missouri, down slightly from a 49%-45% lead from a poll conducted last week. Meanwhile, SurveyUSA gives McCain a 48%-46% lead, compared to a 49%-44% lead from two months ago.
Polls: Obama Taking Narrow Lead In New Hampshire
A new Research 2000 poll gives Barack Obama a 48%-44% lead in New Hampshire, within the ±4% margin of error. And a Strategic Vision (R) poll gives Obama a bare one-point edge of 46%-45%. John McCain had previously been leading in the preponderance of polls here.















Meet Spiro Agnew, wearing lipstick.
Alaska Gov. Sarah Palin,
who has made a crackdown on gift-giving to state officials a
centerpiece of her ethics reform agenda, has accepted gifts valued at
$25,367 from industry executives, municipalities and a cultural center
whose board includes officials from some of the largest mining
interests in the state, a review of state records shows.
http://tpmcafe.talkingpointsmemo.com/talk/2008/09/palin-accepted-25000-in-gifts.php
September 26, 2008 9:07 AM | Reply | Permalink
I don't know why everyone is getting on McCain's case about not deciding what to do about the debate. I mean he has what a good 6 hours until he would have to make a decision. Hmm ..
minus 60 minute nap
minus 45 minutes yelling at Palin for her Couric interview
minus 90 minutes yelling at Cindy, Schmidt and Davis for not talking him out of Palin...
Hmmm I guess the old fart does need to make up his mind pretty quick!
Big O is going to clean his clock.
September 26, 2008 9:09 AM | Reply | Permalink
Professional Assessment here:
http://tpmcafe.talkingpointsmemo.com/talk/2008/09/a-woman-has-to-say-it-mccain-m.php
Please recommend if you think this describes what's going on!
September 26, 2008 10:33 AM | Reply | Permalink
Republican lawmakers offered a plan calling for Wall Street firms to purchase insurance on mortgage-backed securities and "ADVOCATING TAX CUTS AND RELAXED REGULATIONS". Treasury officials had previously rejected a plan focusing on insurance in favor of one that purchased troubled assets, Cantor said.
This is the republican's solution???? ADVOCATING TAX CUTS AND RELAXED REGULATIONS?????!!!!!
This is exactly what Bush did for the last 8 years! Ask for something you know it insanely irresponsible, get everyone upset, then let the democrats trip all over each other while the republicans focus on getting what they really want. What a shell game!
Wake Up!!!!!
September 26, 2008 9:14 AM | Reply | Permalink
Not just tax cuts...I heard a 2 years SUSPENSION of the capital gains tax. Can you say "Shock Doctrine"?
September 26, 2008 9:31 AM | Reply | Permalink
I really wish some reporters would ask these House Republicans to detail how they think suspending capital gains taxes is going to help. I know they say that it will encourage private investment in the markets, but I mean I want them to spell out the theory for people who don't understand the implications of this measure. Because basically it seems to me that it would essentially allow a bunch of these same Wall Street fatcats, whom supposedly everyone is so opposed to bailing out, to sell US securities now, invest in foreign markets instead, and pay no taxes on those sales. Making our tax revenues decrease even more. While our economy is flailing. While we wage wars in two different countries. With a deficit approaching $10 trillion.
September 26, 2008 9:48 AM | Reply | Permalink
That wouldn't cause a market crash now would it?
If the cap gains tax was suddenly eliminated I would immediately sell every stock I own. Of course, I might do that anyway, but the only thing holding me back right now is the tax on gains.
September 26, 2008 9:56 AM | Reply | Permalink
MASON, you've been threatening to take your money out of the bank for two days now. It's your money, but the very last thing this economy could stand is a run on the banks.
IT's fucking foolish to keep saying that.
September 26, 2008 10:30 AM | Reply | Permalink
AIG is in trouble because of the billions in mortgaged back securities it insured. It just gets better and better and better.
These guys truly are bankrupt.
September 26, 2008 9:48 AM | Reply | Permalink
McCain will show up--and then blame Obama for the fact that they must have this frivolous debate at all. Personally, I hope McCain chickens out but he won't. He'll go and cast himself as the victim.
September 26, 2008 9:14 AM | Reply | Permalink
If he pulls that, then I think Barack needs to open a big can of whoopass on him, including a detailed description of how that White House meeting went down.
And I believe he will. I sense that even Barack the Imperturbable is getting genuinely pissed at McInsane's antics.
September 26, 2008 9:19 AM | Reply | Permalink
People still don't get it...
Slow and steady. Rope-a-dope. Keep your powder dry. Keep your wits when all around you are losing theirs...
September 26, 2008 9:34 AM | Reply | Permalink
No hair on fire, but a calm ass whoopin' is called for.
September 26, 2008 10:04 AM | Reply | Permalink
Yup!
September 26, 2008 10:24 AM | Reply | Permalink
I'm through predicting McLame. I don't have a clue what he'll do. I hope he skips it.
September 26, 2008 9:20 AM | Reply | Permalink
I hope he doesn't. I think he's a mess right now. I want that mess to be shown to the entire country tonight.
But I agree. I'm done predicting what John McCain is going to do.
September 26, 2008 9:23 AM | Reply | Permalink
You don't have a clue? I don't think McShame does, either. On this, as with everything, he'll make up his mind on the spur of the moment. And perhaps change it a few minutes later.
September 26, 2008 9:27 AM | Reply | Permalink
No joke about not knowing what McCain will do. He's completely off the rails. I used to think this was all kind of funny - McCain's impulsiveness, Sarah Palin's idiocy - then I was kind of mad about it, but quite frankly, now I'm getting a little scared.
All of this drama might make great tv, but is this really what we want out of a leader? I wouldn't be surprised to see him pull off a shoe and bang it on the podium tonight.
September 26, 2008 9:37 AM | Reply | Permalink
I agree. We really desperately need clear-headed leadership.
McLame is just as unprepared as his running mate is to deal with a financial crisis. He doesn't have the mental equipment and he sure as shit doesn't have the temperament.
Thank god it's Friday - the only thing scaring me right now is a panic. If people panic over the economy, we're so fucked. The FDIC cannot cover all those accounts - there's no way.
September 26, 2008 9:44 AM | Reply | Permalink
Yes, Scat, this is getting more and more frightening. We know that we have a moron for a President and soon could have an affirmative action idiot running the WH.
What is most horrifying is the realization that she sounds just like Bush did in 2000 and he was elected.
I saw that preview on "BoogieMan' which is a tribute to Lee Atwater and how he made the P campaigns shift focus to cultural issues (god,guns&gays) because Reagan had gone on TV and lied to the American people about selling guns to terrorist. As a result, we had 'WillieHorton' ads and the focus was no longer issues and Dukasis was made out to be an elitist. This game we are witnessing is OLD.
Palin is nothing but more of the same non-issue puppethead with McCain the reckless maverick as her counterweight?! No one can show me any track record of McCain making wise judicious judgments. His decision making is mercurial and he even says himself he goes from his gut, has no regrets even though he makes mistakes he is willing to accept the consequences.
Well, I don't care about McCain accepting consequences for his own actions. I do care about my rights as a citizen and this country being dragged into the gutter and crumbling before my eyes as this wiseass jerk, proclaims 'all hands on decks, bombs away!!'
This is terribly scary. He has done nothing his entire life but put a monkey wrench in plans and destroy whatever security and safety was in his path which yelling "I am a hero"
God please save us from this madman!!
September 26, 2008 10:16 AM | Reply | Permalink
He'll say if Obama had just agreed to have 10 town hall meetings they wouldn't have to be having these town hall meetings...wait...
September 26, 2008 9:50 AM | Reply | Permalink
From:
Head of State
http://headofstate.blogspot.com/2008/09/mccain-and-bushs-kabuki-theatre-mccain.html
Thursday, September 25, 2008
Credit Where Credit Isn't Due: McCain and Bush's Kabuki Theatre
Now we know why McCain hired the Bush contingent.
It emerged in the White House briefing today that McCain called Bush and asked him to initiate a meeting today at 4 pm at the White House, putatively for him to "deal with" the crisis.
That is, McCain asked Bush to help him create an trifecta: To try to lend some credence to McCain's desperate assertion that a suspension of his campaign is necessary, in effect either avoiding a debate in which he would face critical questions about his stance on the economy or marching in claiming "victory"; attempting to co opt the financial crisis thereby trying to put an end to his plummeting in the polls created by his flailing positions on the economy--perhaps best reflected by his statement days ago that the "fundamentals of the economy are strong"; and perhaps buying more time for Sarah Palin after her embarrassing photo op at the UN yesterday, by moving her debate forward as well.
Here's how it happened, according to Q and A at the WHB:
McCain emailed Bush asking for the 4 P.M. meeting. Now, one reasonably might ask, why is today such a necessity for McCain, if his interest is solely the national good?
Because it is before the debate. McCain hopes to stage a meeting at the White House, thereby, with Bush's cooperation, lending plausibility to his claim to need to suspend his campaign. Then, if Republicans, in their own electoral interest, can be persuaded to come to agreement, before the debate, he would claim--in an act of utter stage management--to have "resolved" the crisis. Thereby hoping to take the heat off on his past careening stances and sliding polls and staunch the bleeding on the polls--before the debate.
This is Kabuki Theatre masquerading as substance--no different than what we saw at the U.N. yesterday.
It is utterly stage managed, utterly cynical, and utterly unrelated to the substantive deliberation necessary to actually resolve these matters on the merits and for our nation's future, rather than for short-term and desperate political advantage.
These occurrences are equally important for what they indicate about McCain's governing style as they are for their impact upon democratic process: impulsive acts that rely on drama and theatrical posture rather than substantive reasoning and long-term deliberation; a strong willingness to sacrifice substantive reasoning, deliberative process, and even prior structures and agreements to immediate political need; an attempt to reach outcomes through last minute stage management rather than substantive argument.
These should create deep concern for anyone who wishes for a change in governmental process from the past eight years.
We have an economy, rather than a campaign, to rescue. Putting nation before politics means putting all attempts to resolve it before political attempts to co opt it--and to move towards one's commitments, rather than towards a more immediate and short-term salvation.
Cite:
Head of State
http://headofstate.blogspot.com/2008/09/mccain-and-bushs-kabuki-theatre-mccain.html
September 26, 2008 9:15 AM | Reply | Permalink
Wow, I sure am glad I clicked that link.
Head of State is the greatest site ever!
September 26, 2008 9:23 AM | Reply | Permalink
Can't we make Hewson our Sarah Palin and keep him clammed up?
September 26, 2008 9:24 AM | Reply | Permalink
Well, it's nice to have the confirmation of the obvious. As I blogged yesterday, Bush misused the Oval Office (what, *again?*) to try to bitch-slap Obama so McCain could get out of the debate.
To Bush being President means nothing, it's just another angle for him to try to manipulate people to do his illegitimate bidding.
September 26, 2008 9:32 AM | Reply | Permalink
Did you spray paint your name on the overpass too?
September 26, 2008 9:37 AM | Reply | Permalink
I like my name. You don't?
September 26, 2008 9:54 AM | Reply | Permalink
If you check, you will see this was directed at RobertHewson.
September 26, 2008 9:58 AM | Reply | Permalink
Made a mash-up of Palin and Miss South Carolina: http://www.youtube.com/watch?v=LQY5QiVCy2w
Can't imagine that no one beat me to it, though.
Congrats on the new backend here... seems to work a bit better so far. Only hiccup was getting a dozen or so very old stories sent to me on Google Reader ... was good to see what times were like when the NRCC was bitching about campaign contributions from members and threatening to take away committee spots back before November 2006 when said threat meant something.
September 26, 2008 9:17 AM | Reply | Permalink
Yes! I've been telling my friends for days that somebody should do this. I lack the skills myself. Thanks!
September 26, 2008 9:38 AM | Reply | Permalink
Her answer on Putin/Alaskan Airspace/Neighbors are foreign countries was tailor-made for the Miss South Carolina treatment. I was walking around my house last night cracking myself up going "Putin, like, such as, the Iraq, State in which I am the executive of!"
Yes, I walk around my house audibly mocking Sarah Palin... What, you don't?
September 26, 2008 9:56 AM | Reply | Permalink
Check out this parody of Palin called "Head of Skate"
http://www.collegehumor.com/video:1831461
Hilarious
September 26, 2008 9:20 AM | Reply | Permalink
That would be terribly funny if it wasn't so awfully frightening that it actually could happen!!
I just wanna know one think why does the black guy always have to be the one breakdancin'?
September 26, 2008 10:30 AM | Reply | Permalink
You know what I realized last night? John McCain has done something that I honestly didn't think was possible. He has 1-up the Bush administration in brinkmanship. Basically, what John McCain has done is use Bush to help inject himself and his campaign into the middle of this mortgage mess, and then he's sided with the only group not on the same page as everyone else -- House Republicans -- and has blown any possible deal all to hell.
He's now painted himself completely into a corner, and with him, any hopes that the Republicans have to hold onto the White House. So now, Republicans are faced with going back on EVERYTHING that they've said over the past two weeks and acquiesce to McCain and the hard right minority within the House, or sink McCain and piss away the White House for good.
Not only does this underscore just how unstable a President John McCain would be and how weak a position Bush currently is in, it's a situation where a fringe portion of a political party has completely hijacked our government. You can't write a drama like this. It wouldn't be believable.
September 26, 2008 9:22 AM | Reply | Permalink
McShame as metaphorical suicide bomber.
September 26, 2008 9:30 AM | Reply | Permalink
I was thinking the same thing. Based on accounts from that meeting yesterday and McCain's 11th hour monkey wrench, I would guess that Bush is pretty pissed at him right now.
Not that I have any sympathy for the President, but honestly at this time I think I trust his judgement more that screwball McCain's.
September 26, 2008 9:31 AM | Reply | Permalink
Hello, I agree with your analysis except for I have to quibble with the word brinkmanship. That is a foreign concept to McCain! Brinkmanship is what happens when an individual has strategic skills and understands how to manuever tactically to win.
What we have with McCain is simply SNAFU from the moment he said 'the fundamentals are strong' a week ago...to FUBAR when he had Bush call that 4pm meeting.
By money we will have a financial catastrophe. The only positive thing that comes from this is that McCain will not be President. He has now displayed for the world how much of a crazed madman he is running around 'taking action' with resolve, for bluster and drama, ending with horrific consequences.
September 26, 2008 10:36 AM | Reply | Permalink
and I thought that the Clintons made for drama ...geez, they are minor league thespians compared to McCain: imagine a McCain White House with such nonsense every single day!!!! (I dare not even contemplate an end-times President Palin with the nuclear codes ... )
September 26, 2008 9:23 AM | Reply | Permalink
Good point - besides, blowjobs are much more entertaining than campaign suspensions.
September 26, 2008 9:27 AM | Reply | Permalink
lol... you know, most eschatologists don't see a role the U.S. in the end times scenarios drawn from the Bible. Hmmm. Could it be because President Palin will have already gotten us blown off the planet? ;)
September 26, 2008 10:18 AM | Reply | Permalink
In all reality, McCain is a more seasoned debater than Obama. He also speaks in short, easy to understand sentences, and doesn't pontificate on a subject.
Obama has got to nail these debates. Has to come across as decisive, strong, and knowledgeable.
I'm giving McCain the advantage in all of these debates, and I'd like to see Obama surprise me.
September 26, 2008 9:25 AM | Reply | Permalink
Isn't it pretty evident after Gore & Kerry won the debates that winning debates don't mean SQUAT?
When is the last time we had a President in the WH who won the debates?...duh...Reagan the B-actor?
Please.
Clinton didn't win the debate. He simply didn't lose it.
Which is what Obama has to do...simply hold steady and demonstrate statesmanship vs. knee-jerk responses in these perilous times.
Folks want a steady hand at the wheel not some flippant unpredictably reckless 'maverick' wiseass.
September 26, 2008 10:40 AM | Reply | Permalink
How John McCain Photo Opt Himself In The Foot.
http://tpmcafe.talkingpointsmemo.com/talk/2008/09/peewee-mccains-big-misadventur.php
September 26, 2008 9:26 AM | Reply | Permalink
Aside from the Bailout plan, another Republican revolt is taking shape:
http://article.nationalreview.com/?q=MDZiMDhjYTU1NmI5Y2MwZjg2MWNiMWMyYTUxZDkwNTE=#more
September 26, 2008 9:27 AM | Reply | Permalink
No honest Republican can watch the Couric interview and say that Palin isn't way in over her head.
September 26, 2008 9:32 AM | Reply | Permalink
For most of them, isn't that an oxymoron?
Though I have to say, I was stunned by that piece.
September 26, 2008 9:36 AM | Reply | Permalink
There are a few popping up, voicing real concern with McCain and Palin.
September 26, 2008 9:40 AM | Reply | Permalink
When George Will and Ben Stein are fed up with the Republican candidate, that's rarely a good sign. (We've also got quite a few prominent crossovers who are outright endorsing Obama-- Richard Riordan, former mayor of LA, and Linwood Holton, former governor of Virginia, to name a few.)
September 26, 2008 10:04 AM | Reply | Permalink
I believe the preferred term these days is "Recovering Republican."
September 26, 2008 9:55 AM | Reply | Permalink
Palin was so awful in those interviews. Very frightening.
September 26, 2008 9:50 AM | Reply | Permalink
They don't show these interviews in my town (here at the edge of the world). Q: Was it bad only to a smart person? Could an idiot (i.e., the base and many other sub-geniuses) think she did great? I can't have an opinion not having seen it.
September 26, 2008 9:58 AM | Reply | Permalink
I suppose if someone had their TV on mute they might think she did well.
September 26, 2008 10:12 AM | Reply | Permalink
LOL, truly! Thanks!
September 26, 2008 1:12 PM | Reply | Permalink
Holy crap. And K-Lo is the most Kool-Aid drinking of the bunch. All of this would be funny if it wasn't so sad for the country.
September 26, 2008 9:33 AM | Reply | Permalink
I know - again, I'm speechless. K-lo. K-LO!
September 26, 2008 9:36 AM | Reply | Permalink
Actually it is Kathleen Parker not Kathryn Jean Lopez...
Still seeing anyone on NRO take that position is surprising to say the least.
September 26, 2008 9:44 AM | Reply | Permalink
O well, one wingnut merges into the next fairly seamlessly.
;)
September 26, 2008 9:46 AM | Reply | Permalink
This was my favorite quote from the article:
September 26, 2008 9:59 AM | Reply | Permalink
this from politico, anyone who doubts Obama should move to alaska:
It was McCain who had urged Bush to call the White House meeting but Democrats made sure Obama had a prominent part. And much as they complained later of being blindsided, the whole event turned out to be something of an ambush on their part—aimed at McCain and House Republicans.
“Speaking professionally,” said one Republican aide, “They did a very good job.”
When Bush yielded early to Pelosi and Senate Majority Leader Harry Reid (D- Nev.) to speak, they yielded to Obama to speak for the assembled Democrats. And it was Obama who raised the subject of the conservative alternative and pressed Paulson on what he thought of the idea.
House Republicans felt trapped—squeezed by Treasury, House Democrats and a bipartisan coalition in the Senate. And while McCain spoke surprisingly little after asking for the meeting, he conceded that it appeared there were not the votes for the core Paulson plan without major changes.
September 26, 2008 9:32 AM | Reply | Permalink
Rasmussen's Daily Tracker, today:
Obama - 50
McCain - 45
"This is Obama’s biggest lead since his convention bounce peaked with a six-point advantage. In fact, on only two days since clinching the Democratic nomination in early June has Obama enjoyed a lead bigger than he has today."
Looks like this might wind up being a bad turn at the craps table for Johnny Mac. But it ain't over. I'm still waiting for the House GOPers to cave to the great uniter and for the media to fall back in love with their knight in shining armor.
September 26, 2008 9:38 AM | Reply | Permalink
So why can't Obama break 50%? He has to do that to insure himself against losing eleventy billion trillion votes to the Bradley Effect, otherwise he's obviously doomed.
(yes I know the Bradley Effect doesn't really exist anymore)
September 26, 2008 9:46 AM | Reply | Permalink
I know. 50% isn't enough. Nor is 51%. Or even 100%. Like all of my football coaches used to say, you have to give 110%. So until Obama hits 110 and McCain hit -10, Obama has no shot.
September 26, 2008 9:48 AM | Reply | Permalink
Incidentally, that's probably what it would take to flip Utah.
September 26, 2008 9:51 AM | Reply | Permalink
I am sick of phrasing this question, "Why can't OBAMA break 50%" or whatever other figure. The better question is "Why aren't Americans more disenchanted with McCain's antics?" Seriously, if, after all of these charades, some 45% of Americans would rather vote for McCain, I wonder what Obama could possibly do.
September 26, 2008 9:56 AM | Reply | Permalink
Okay, but how about winning 50-45 with about 310 electoral votes?
September 26, 2008 10:01 AM | Reply | Permalink
Yeah, you do have a narrative here:
The grey fox was right all along, grand-master-at-chess, brilliantly executed his master plan, etc. Yucch!
September 26, 2008 10:05 AM | Reply | Permalink
Is there any truth the rumor that the real reason that McInsane is skipping the debate is that he believes that he was supeonaed to appear and he so hates the 'rule of law' that he has pulled his lawyers from running interference in Alaska to block his appearance on stage tonight?
September 26, 2008 9:52 AM | Reply | Permalink
McCain's actions are unpredictable and quite amazing. The only thing is that as irresponsible as he is he's got nothing to lose and the presidency to gain. My worry in this is that despite whatever back room disagreements exist amongst them, the R's will maintain lockstep unity on the face of this and turn the narrative to McCain as visionary super-leader whether that's saving us all from what would have been a bad-deal or claiming credit for getting one done. His gambit isn't about what actually decided upon, it's turning whatever that is into a narrative that promotes him as a mavericky leader.
Of course, it's a gamble that he won't look like a crass fool, but while his being so is apparent to all of us in the choir here it may not be obvious to those already leaning toward the Rs or the truly undecided (what can they have left to be undecided about?!?).
My biggest political fear at this particular juncture is that the debates tonight actually get cancelled and the networks proceed with other Friday night programming, leaving BO flapping in the wind and having to re-schedule or cancel altogether. This scenario is the one McCain always wanted which was to get out of this thing and have everyone jumping to his tune.
Does anyone know how likely this is at the moment??
September 26, 2008 10:01 AM | Reply | Permalink
Well, for starters, the University of Mississippi has a reported $5.5 million socked into this event, so Ole Miss ain't going to cancel.
September 26, 2008 10:14 AM | Reply | Permalink
Yeah, I've heard that, but I don't think the Rs are going to sweat that too much as Miss isn't in danger of going blue. The UofMiss may say it's on, and BO may show up but if the debate commission says you're on your own and the network cameras go home then McCain wins the battle. I'm not saying this can or will happen, it's just my worry.
September 26, 2008 10:21 AM | Reply | Permalink
I may be overly optimistic, but I can't belieeve that the Presidential Debate Commission, which has been planning this event for over a year, would allow itself to be held hostage by one of the candidates.
And for what it's worth, Caroline Kennedy is one of the Board members of the Commission.
September 26, 2008 10:37 AM | Reply | Permalink
Oooops -- "believe"
September 26, 2008 10:38 AM | Reply | Permalink
I really thought that this time, considering the seriousness of the problem, that these 535 clowns would set aside their beloved blame game just once -- just this once -- and try to SOLVE THE PROBLEM.
I am so naive.
September 26, 2008 10:01 AM | Reply | Permalink
FrustratedDEMinNH,
AIG is in trouble because they backed bullshit mortgage derivatives by 99% leveraged purchase of bullshit mortgage derivitive to hold as collateral against the bullshit mortgage derivitives. AIG used houses of cards to insure the financing of the building of those selfsame houses of cards built upon an earthquake fault . . . AND due to thirty (30) years of Republican kleptocracy it was all perfectly legal.
Over simplication of the subject dramatically understates the horror of the situatuion.
September 26, 2008 10:03 AM | Reply | Permalink
And remember, this problem (like all others) can only be fixed with tax cuts for the rich.
Thank God Bush discovered that tax cuts for the rich are the solution to every problem. As a result of this groundbreaking economic insight, our nation is more stable and prosperous than it has ever been...
Seriously though, if (as I understand it) the problem is that banks will not lend because no one is quite sure how much bad mortgage debt the other guy is holding, then the Paulson plan, however odious for many reasons, has at least the virtue of offering a cogent explanation of how we free up the blockage. The government buys those toxic assets so no one has any more left on their books and then there is no longer any reason no to lend. There are a million good arguments against even this plan (I do not favor it myself), but at least one can understand how it is supposed to work.
How in God's name, however, is a capital gains tax cut supposed to solve this problem? The House Republicans are claiming that this would help encourage the sale of these assets, but that is plain nonsense because one does not pay capital gains when one takes a loss. We could hike capital gains rates by 30000% and it would not impact the likelihood of anyone's selling these toxic assets in the least. Who the heck do they think they are fooling with this flim-flam?
September 26, 2008 10:18 AM | Reply | Permalink
I am really glad to see these reports coming in showing MO closing the gap again. I am heartbroken to think that Virginia and NORTH CAROLINA could go blue but my own beloved Missouri might still end up throwing in its lot with the GOP. This cannot happen and it will not happen. We are the most bellweathery bellweather in this whole country, and I refuse to believe that we are going to buck the trend and vote for the Senile/Insane ticket when the alternative is so obviously superior. Missouri is going to go blue this fall. It has to.
September 26, 2008 10:08 AM | Reply | Permalink
McCain is up to one of two things here. Either he's trying to force the debates commission to "postpone" the VP debate--in which case it will never be rescheduled, sparing Palin another debacle--or he's trying to throw Obama off his game with this distraction about whether or not he's going to show up.
Either way, if McCain does show up, I think Obama should surprise him by insisting that they discard the topic limitation and debate about domestic policy as well, since that's what Americans want to hear about right now. He should then duck for cover while McCain's head explodes.
September 26, 2008 10:09 AM | Reply | Permalink
McPain and the Thuglicans are holding the country ransom.
September 26, 2008 10:13 AM | Reply | Permalink
or he's trying to throw Obama off his game with this distraction about whether or not he's going to show up.
if McCain hasn't figured out that Obama can't be thrown off by such a transparent stunt, then he really is completely clueless. Someone who is such a poor judge of his adversaries shouldn't be president.
September 26, 2008 10:19 AM | Reply | Permalink
Did anyone else notice this -- I was at CNN.com's live video this morning to watch Bush give his purported update on the bailout progress. Just as he referred to the "disagreement" among the negotiation participants, the live feed was cut, and never came back.
September 26, 2008 10:20 AM | Reply | Permalink
Well, the proof is in the pudding, isn't it.
I mean, if McCain makes a surprise showing at the debate, and all his adoring nimrods in the press give him softball "aw shucks" coverage, and he seems gracious, self-deprecating and has a strong debate, then tomorrow's a different kind of day.
I note schizophrenia about who is a better debater; some say Obama really learned over 22 debates with Hillary - that's a *lot* of practice. Others say Obama just isn't that good a debater and McCain is comfortable in the venue. They do say Jim Lehrer isn't going to listen to too much canned crap, happily.
September 26, 2008 10:36 AM | Reply | Permalink
Obama up five in R2K.
Obama up five in Rasmussen.
Obama up seven in Hotline/Diageo.
September 26, 2008 10:43 AM | Reply | Permalink
Scarborough said:
Is this for real, or was Joe joking?
September 26, 2008 10:50 AM | Reply | Permalink
This whole "bail out" idea, seems to me as set up to get the democrats to defend a bill that come from this administration, thus puttig the onus on democrats. It makes them defend a bill that was the Bush administration's brain child. And at the same time make McCain possibley look like the Mavericky, Maverick that stood up to "The Man". Quite frankly, it sickens me...
September 26, 2008 11:01 AM | Reply | Permalink
How do you spell unstable?
J-O-H-N M-C-C-A-I-N.
September 26, 2008 11:10 AM | Reply | Permalink
"Tonight: The Debate
The first presidential debate is scheduled for 9 p.m. ET tonight at the University of Mississippi. Barack Obama will be showing up, while John McCain has not committed to coming yet."
At the risk of over-parsing this, McCain committed to showing up. He hasn't made it clear that he will honor his commitment.
September 26, 2008 11:17 AM | Reply | Permalink
Just a fun little tidbit. After the Repub convention, college republicans or young republicans or whatever had a tent at university of Missouri's speaker circle with signs like "Clinton backers welcome", we picked a woman, etc. Everyone just walked past. Generally smarmy tones don't attract college kids I guess.
Yesterday was the first day college democrats got their tent set up, and were registering hundreds of kids, and then got Don Cheadle to stop by and got a huge crowd. Obviously Obama will win Columbia, but boy do I hope this huge OBama turnout can help get Judy Baker elected.
September 26, 2008 1:03 PM | Reply | Permalink
David Kurtz***What is it with you. "Let's get ready to rumble???""" Sometimes I feel like I'm living "Idiocracy" and our future president will be the champ of smackdown wrestling. Half the time you act upset at the personality driven politics while referring to them as a fight of some kind. With the mentality of the right wing that is exactly where they would like to drive the elections. How many liberals have been arrested for killing conservatives, yet the opposite is true.
It's getting sickening and certainly doesn't need to be promoted. The debate is not a fight, it's a discussion and very much the learning experience. What do you want ...a jeering drooling crowd who only wants to see a clear winner...future Palinites.
And we wonder what happened to civil discourse in this nation...look who we are playing to and what, when everything is framed like a war.
Now I have to go clean my weapon ...again.
There is no Justice only just people.
September 26, 2008 1:17 PM | Reply | Permalink
btw...why are we having a presidential debate in Mississippi of all places??? "Mississippi Burning" bring anything to mind. The state that tried to ban civil rights? Our first black presidential candidate is having his first presidential debate in Mississippi???...you just can't make this stuff up
September 26, 2008 1:22 PM | Reply | Permalink
Ugh! I MUST proof read in the future!!!
I was simply trying to say, all the maneuvering yesterday simply makes democrats defend a bill that was basically forced on them by threat of a 2008 Great Depression.
September 26, 2008 2:45 PM | Reply | Permalink
Just ran into this funny site about Jewish grandkids traveling to Florida to convince their conservative grandparents to vote Obama...
The Great Schlep aims to have Jewish grandchildren visit their grandparents in Florida, educate them about Obama, and therefore swing the crucial Florida vote in his favor.
September 26, 2008 4:16 PM | Reply | Permalink