BS: McCain & Bailout(Gate)???....

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 04 Apr 08 - 08:48 PM

Yeah, Q, that is one beef I've had with every Repub president goiong back 3 decades... They all get elected by promising low taxes and less government but they all spend like drunken sailors... There is no controlling them... The love to shop!!!

But let get real here... Bill Clinton, who I don't have much respect for, at least listened to Alan Greenspan's pleas top raise taxes and balence the budget and so he did exactly that...

Then along came Bush
Slow thinkin' Bush
Slow talkin' Bush
Yeah, along came Bush

And the rest is history, sans the current friggin' mess...

B~

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Q (Frank Staplin)
Date: 04 Apr 08 - 08:37 PM

'Reaganomic Policy' involves cutting government spending, reducing marginal tax rates on income, reduction of regulation, and control of money supply to control inflation.
That is essentially Republican policy, but it was proposed in general by many Democratic legislators before his term.

Reagan took credit for reducing regulation, but it had started before him- airlines and trucking by Carter, as well as reduction of regulation in banking, natural gas, telephones, railroads, etc.

(Reagan, however, authorized heavy spending, so hardly a practitioner of his stated policy)

Subject: RE: BS: McCain & Bailout(Gate)???....
From: GUEST,Jack the Sailor
Date: 04 Apr 08 - 08:03 PM

Come August will be my tenth anniversary in this country. I've been watching US conservatives for a long time and the last one that has made logical sense in a debate was William F. Buckley.

The rest seem to be fanatics in the cult religion of Reaganomics.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Q (Frank Staplin)
Date: 04 Apr 08 - 07:59 PM

Wendy Lee Graham at present is Chairman of the Regulatory Studies Program, Mercatus Center of George Mason University, and is Chairman of Texas Public Policy Foundation, a conservative think tank financed by governor Rick Perry of Texas and Texas business men.
Core principles of TPPF are individual liberty, personal responsibility, private property rights, free markets. They support deregulation on all fronts and support private health care.
See TPPF

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Peace
Date: 04 Apr 08 - 06:58 PM

I'd suggest the guy have the--well, you know.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: pdq
Date: 04 Apr 08 - 06:51 PM

Which has the nuts and which has the pineapples?

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Peace
Date: 04 Apr 08 - 06:49 PM

Macadamia nuts and pineapples at twenty paces.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: pdq
Date: 04 Apr 08 - 06:49 PM

What would that be, wrestling Hawaiian style?

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 04 Apr 08 - 06:46 PM

Sniff...

Aklan Swartz, COE of Bear-Saterns had to forfit his entire 2007 binus but kept the $151M that he sucked outta the company over the last 60 months...

Danged, dontcha just hate it what that happens to a good man???

BTW, I'd like to see Dr Wendy Lee and Obama in a debate... Especially after what has now happened...

McGramm in in big trouble...

B~

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Peace
Date: 04 Apr 08 - 06:33 PM

True. But it has to stike us--even sometimes between the eyes--that there are lots of people who already have serious money getting into the political picture into positions where their holdings could be increased substantially with a nudge here and a tweak there. And they seem to get into positions where they can do just that.

I'd like to see a law in the US that makes complete and full disclosure of all finances, boards, stock, etc., that a person running has. (Terrible English, but readable.) And if they are found to have left out anything of substance, then they face a mandatory 10 years in the slam, NO PAROLE. But then, I dream lots.

Hope you're doing well, pdq. Always have liked your posts, even though I disagree with a few of them.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: pdq
Date: 04 Apr 08 - 06:14 PM

Enron fell because enough people said that the stock would become worthless. The panic selling made that happen. The New York Times has more responsibility in the 81 billion dollar loss than any other entity. Ken Lay was a jek who bought 12 million dollars worth of houses he did not need, but so have Michael Jackson, Barbara Sridentsound and many others.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Peace
Date: 04 Apr 08 - 06:05 PM

No one is sliming Dr Wendy Lee. However, there are a few things that should maybe be addressed, no?

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Peace
Date: 04 Apr 08 - 06:04 PM

Dr Wendy Lee -- Enron

Huh



She dresses well, but then I guess she can afford to . . . .

Subject: RE: BS: McCain & Bailout(Gate)???....
From: pdq
Date: 04 Apr 08 - 06:03 PM

Dr. Wendy (Lee) Gramm was chairman of the U.S. Commodity Futures Trading Commission, a job with more responsibility than any O'Bamma has had.

She is a former economics professor and a nice person. She is obviously going to be a target for great slime machine as soon as McCain is nominated, maye before. This is why the best and brightest are not willing to serve in our government.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Uncle_DaveO
Date: 04 Apr 08 - 05:44 PM

pdq told us:

His wife is Dr. Wendy Lee (Gramm). Born in Hawaii, she is one of the most important people of Chinese descent to hold a Federal office

What office did she hold? I don't recall having heard her name before.

Dave Oesterreich

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Donuel
Date: 04 Apr 08 - 09:15 AM

Phil Graham was never able to reform the banking practice of holding your money for up to 2 weeks to obtain free interest in what is called the FLOAT. Any given day it ishundreds of billions of dollars.

The banks will electronicly take your money in 3 milliseconds but they insist upon using the same banking law that existed during the Pony Express when it comes to giving it back.

Poor Phil. but then again maybe the banks paid him to fail.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 04 Apr 08 - 08:27 AM

Main St v. Wall St...

Reaganomics v. Reality...

Outta be interesting... Especially since McCain is camped out with the Wall St./Reaganomics guru, Phil Gramm...

This one issue alone could be Obama's "left hook"... Look out, John, here comes the canvas...

B;~)

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Q (Frank Staplin)
Date: 03 Apr 08 - 11:56 PM

No doubt the major investment houses will be leaner and meaner. But Congress needs to set the rules. That means controlling the Federal Reserve Banking system and setting minimum requirements for mortgage loans by investment houses. This wil be unpopular with two groups. 1. Those opposed to any regulation and 2. Those who want even the marginal applicants to buy homes.
Will the elected legislators be up to the task? The guy (or gal) at the top can only propose and recommend, and at the end sign or veto, but unless the legislators agree, little will change. (Of course one obstacle will be gone; Bush would probably veto any serious attempts to change the rules if he was still in the White House).
In other words, serious change depends on electing a majority of much more economics-savvy congress men and -women. This is a tall order.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Ebbie
Date: 03 Apr 08 - 10:29 PM

Different strokes for different folks...

Discussing the need for financial institutions to be monitored:

"Last week Robert Rubin, the former Treasury secretary, declared that (Rep. Barney) Frank is right about the need for expanded regulation. Rubin put it clearly: If Wall Street companies can count on being rescued like banks, then they need to be regulated like banks.

"But will that logic prevail politically?

"Not if McCain makes it to the White House. His chief economic adviser is former Sen. Phil Gramm, a fervent advocate of financial deregulation. In fact, I'd argue that aside from Alan Greenspan, nobody did as much as Gramm to make the this crisis possible."

Paul Krugman
Taming the Beast
3/25/08
New York Times

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Q (Frank Staplin)
Date: 03 Apr 08 - 10:22 PM

Don't know much about what Gramm did, but I suppose that will come out,if true.
Here are some facts about UBS.
UBS has three arms.
The investment arm, which made the mortgage loans, may be up for sale, according to the Telegraph (UK). It has 24,000 employees, of whom 9500 can look forward to termination in fairly quick order.

Overall, the bank has 83,000 employees. The world's largest money manager, its position is secure.

The first bailout of the investment arm was financed by the Singapore Sovereign Wealth fund, and by United Arab Emirate interests, some $13 billion. The bulk has yet to be dealt with. The chief executive said the 'resizing' would be dealt with in the next few weeks.

UBS is offering $15 billion in rights offerings, which already have buyers, to replenish capital, and its stock, and the stock market in general, advanced as a result.

Lehman Bros. offering of preferred stock (4 million shares) at $1000 a share quickly sold out and the common stock appreciated 32%.

Many investment analysts say the crisis is over as far as the major investment companies are concerned. As far as the major .... As far as the major ....

Subject: RE: BS: McCain & Bailout(Gate)???....
From: pdq
Date: 03 Apr 08 - 10:16 PM

Dr. Willaim Philip "Phil" Gramm was born July 8, 1942. He is a Phi Beta Cappa member and regrarded as one of the finest minds in the world of economics. He taught at Texas A & M for about 12 years.

He was elected as a Democrat from Texas in 1978, but changed party affiliation and was elected to the US House in 1981 as a Republican, a rare animal in Texas at that time.

His wife is Dr. Wendy Lee (Gramm). Born in Hawaii, she is one of the most important people of Chinese descent to hold a Federal office.

Both of these folks are fine people and do not deserve to be slimed in order to further the pathetic candidates that the Democrat Party has put forward.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: GUEST,Jack the Sailor
Date: 03 Apr 08 - 10:06 PM

Harvey was still on the air as of last November. i heard him a bunch of times while driving.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 03 Apr 08 - 09:25 PM

Not as intersting as the story about Phil Gramm and how he is McCain's Ecomonics 101 tutor...

B~

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Beer
Date: 03 Apr 08 - 09:13 PM

Dead or Alive Info.Com
Great site for quick finds on such things. Sorry no blue clicky.
Very interesting read Bobert.

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Beer
Date: 03 Apr 08 - 09:09 PM

Date of Birth:
Current Age: 09/04/1918
89

Beer (adrien)

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 03 Apr 08 - 09:02 PM

No kidding, Eb!?!?!?!?...

I love Paul Harvey... I mean, I hadn't heard him is such a long time that I thought he had passed on...

Danged good news...

Better news than McCain is gonna have when the Dems have a candidate and hit the straight talker about this little situation...

B;~)

Subject: RE: BS: McCain & Bailout(Gate)???....
From: Ebbie
Date: 03 Apr 08 - 08:31 PM

Beubie, Paul Harvey is still alive, I believe. He's got to be about 90.

Subject: BS: McCain & Bailout(Gate)???....
From: Bobert
Date: 03 Apr 08 - 08:10 PM

Wow!!! Check this out...

Rememeber Texas Senator Phil Gramm??? You know, the guy who authored the Gramm-Leach-Bliley Act back in 1999...

Oh, you don't remember the Gramm-Leach-Bliley Act??? Okay... Well, this bill was pushed thru big time by Citicorp, J. P. Morgan and Bankers Trust... The crux of the bill was the repealing of a New Deal bill, The Glass-Steagall Act which was enacted to prevent commercial banks from gambling away its depositors doughj with investment banks... In other words, it told the commercial banks to play safe and stay away from the track with it's depositer's $$$$.... The motivational forces behind the Glass-Steagall Act was thwe '29 Crash...

Here's where it gets interesting... This same Phil Grammm quit congress so he could make the big buck$$$ as a corporate lobbiest and this same Phil Gramm is now John McCain's campaign general co-chairman and domestic advisor...

(Well, so what, Boberdz???)

Seems that staright talkin' McCain's bgoy also lobbied Congress for the Swiss bank, UBS, to overturn state laws against preditory lending and making risky motgae loans (sybprime)...

Last week, UBS announced it had lsot $37B in the last 6 months???

Yeah, hmmmmmmmm???

So, it looks like Blind John is being led by Blind Phil on the economy...

I'm not sure where the (Gate) part comes into play but I just have this feeling that in the words of the late Paul Harvey that over the coming weeks and months we will be gettin' "The rest of the story"...

Bobert