Posts tagged ‘mortgage industry bailout’

October 7, 2008

The next, bigger bailout is Medicare

by thoughtfulconservative

From William McKenzie at the Dallas Morning News.

If you think this current $700 billion financial bailout is troubling, you haven’t seen anything yet. It’s just a warm-up act to what we face if Washington doesn’t come to terms with Medicare’s looming bankruptcy.

Yeah, I know. I’m full of good news today.

October 7, 2008

Where’s my bailout?

by thoughtfulconservative

Via Yahoo News

Americans’ retirement plans have lost as much as $2 trillion in the past 15 months, Congress’ top budget analyst estimated Tuesday. The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers’ savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office. [emphasis mine]

October 6, 2008

Why some are against the bailout – I

by thoughtfulconservative

via USATODAY.com.

Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.

As well, executives who feared for their bonuses in the company’s last months were told not to worry, according to documents cited at a congressional hearing. One executive said he was embarrassed when employees suggested that Lehman executives forgo bonuses, and cracked: “I’m not sure what’s in the water.”

October 3, 2008

Friday night political cartoons

by thoughtfulconservative

Alas, not all humorous, unless you’re into wry, too-close-to-the-truth kind of humor.

September 30, 2008

John McCain on “Fox and Friends”

by thoughtfulconservative

This morning:

“I also strongly recommended that we use the exchange stability fund that the Treasury has available — $250 billion — to shore up these institutions. Also, the Treasury has at its disposal about $1 trillion that they could begin without Congressional authority buying up some of these terrible mortgages and help stabilize the situation.” [Emphasis mine]

Great. So now we don’t need Congress?

Video below:

(Cross posted at Fairly Conservative)

September 30, 2008

Confused?

by thoughtfulconservative

If Ralph Nader agrees with Jim Sensenbrenner, things must be confused.

One thing troubles me though,

Today, the American people rose up and slapped down the two Wall Street controlled political parties.

If Wall Street controls both parties, why was it voted down?

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