As regular readers can tell from the past few days, I've been fixated on a point: as mega-finance firms fail, it's absurd for McCain to beat on Wall Street when his campaign is chockfull of corporate lobbyists (past and present) who have been paid lots of money to rig the system for Big Finance firms. And that includes UBS executive and McCain adviser Phil Gramm, who, as chairman of the Senate Banking Committee, pulled a backroom legislative stunt in 2000 to make sure that credit default swaps--a certain financial instrument that helped pave the way to the subprime meltdown--would remain completely unregulated.
The nice thing about having an obsession and being head of a Washington bureau is that you can assign reporters to stories. So I asked Jonathan Stein and Nick Baumann, two colleagues of mine at Mother Jones, to go through a list of 177 lobbyists working for the McCain campaign and find those who have been influence-peddlers for financial firms. They did and discovered that over 80 of these lobbyists have been game-riggers for financial corporations. Consequently, we had a story to post:
In the past few days, as the economic crisis has deepened, Senator John McCain has been decrying the excesses of Wall Street. At a campaign rally in Tampa on Tuesday, he vowed that he and Alaska Governor Sarah Palin, if elected, "are going to put an end to the reckless conduct, corruption, and unbridled greed that have caused a crisis on Wall Street." He noted that the "foundation of our economy...has been put at risk by the greed and mismanagement of Wall Street and Washington."
He blasted CEOs who "seem to escape the consequences." He denounced Wall Streeters who "dreamed up investment schemes that they themselves don't even understand" and who used "derivatives, credit default swaps, and mortgage-backed securities" to try "to make their own rules." He excoriated Fannie Mae and Freddie Mac for gaming the system. And he slammed financial industry lobbyists for misguiding members of Congress. "I can promise you the days of dealing and special favors will soon be over in Washington." On Wednesday morning, after the federal government committed $85 billion to prevent the collapse of the American International Group (AIG) insurance conglomerate, McCain again assailed irresponsible corporate executives. "We need to change the way Washington and Wall Street does business," he proclaimed.McCain has been quick with fiery, populist-tinged speeches. But one thing has been missing: any acknowledgment that McCain's own campaign has been loaded with the type of people he's been denouncing. As Mother Jones previously reported, former Senator Phil Gramm, McCain's onetime campaign chairman, used a backroom maneuver in late 2000 to slip into law a bill that kept credit default swaps unregulated. These financial instruments greased the way to the subprime meltdown that has led to today's economic crisis. Several of McCain's most senior campaign aides have lobbied for Fannie Mae and Freddie Mac. And the Democratic National Committee, using publicly available records, has identified 177 lobbyists working for the McCain campaign as either aides, policy advisers, or fundraisers.
Of those 177 lobbyists, according to a Mother Jones review of Senate and House records, at least 83 have in recent years lobbied for the financial industry McCain now attacks. These are high-paid influence-peddlers who have been working the corridors of the nation's capital to win favors and special treatment for investment banks, securities firms, hedge funds, accounting outfits, and insurance companies. Their clients have included AIG, the newest symbol of corporate excess; Lehman Brothers, which filed for bankruptcy on Monday sending the stock market into a tailspin; Merrill Lynch, which was bought out by Bank of America this week; and Washington Mutual, the banking giant that could be the next to fall. Among these 83 lobbyists are McCain's chief political adviser, Charlie Black (JP Morgan, Washington Mutual Bank,, Freddie Mac, Mortgage Bankers Association of America); McCain's national finance co-chairman, Wayne Berman (AIG, Blackstone, Credit Suisse, Fannie Mae, Freddie Mac); the campaign's congressional liaison, John Green (Carlyle Group, Citigroup, Icahn Associates, Fannie Mae); McCain's veep vetter, Arthur Culvahouse (Fannie Mae); and McCain's transition planning chief, William Timmons Sr. (Citigroup, Freddie Mac, Vanguard Group).
When cable news shows air footage of McCain railing against greedy execs and the lobbyists who rig the rules for the benefit of Wall Street dealmakers, there ought to be a crawl beneath him listing these lobbyists. (Talk about a fair and balanced presentation.) Short of that, here's the list of the McCain aides and bundlers who have worked for the high-finance greed-mongers McCain has pledged to take on. So far, it seems, none of them have been cast out of the campaign. If McCain were serious about his outrage, he might throw these money-changers out of his own temple.
To see that list, click here.
Comments
Real nice, good work there, but...
Anything in Mother Jones is A) Preaching to the choir, and 2) Routinely ignored by the rest of the media for its authentic left-leaning bias.
At least the Obama campaign has made lobbying an issue in ads and such.
Posted by: helzapoppn
| September 17, 2008 1:29 PM
DC,
If you ask me your "obsession" is very timely and necessary.
How about a little recap of the "mergers and acquisitions" that have been approved by congress and have created this new problem where company XXX simply cannot fail because it is too big?
We have allowed so many mega-dollar multinational corporations to get so large we have no choice but to bail them out when they fail?
Whatever happened to anti-trust? Or does that only apply to non-GOPhers?
These are no longer "American" companies - why are us Americans footing the bill?
Privatize the profits - socialize the bad debt?
Make no sense to my simple mind.
Posted by: capt
| September 17, 2008 1:32 PM
Keating 5, Keating 5, Keating 5
Posted by: flan
| September 17, 2008 1:33 PM
Usual suspects...and THESE are the people who're supposed to FIX what they've broken?
Sounds like the Neocon's Iraq mantra...bomb 'em, then feed 'em...bomb 'em, then feed 'em...
Vietnam comes to Wall Street?
Posted by: Hajji
| September 17, 2008 1:34 PM
They have to kill Wall street to save it.
They have to always kill sumtin.
Posted by: capt
| September 17, 2008 1:54 PM
If AIG is really too lrage to fail. Maybe we should break it up into smaller failed businesses?
Here's an idea - let's just break up the multinational corporations to see what parts of them are actually American companies. I think we are being sold a load of BS while making these non-American companies survive even when they have failed.
Just sayin'
Posted by: capt
| September 17, 2008 1:59 PM
Here's another idea. Social Security? If we can "bail out" anything - come 2042 - let's just pump and dump a big old pile of cash into SS.
The GOPhers should LOVE the idea - it is how they do economics after all.
Posted by: capt
| September 17, 2008 2:34 PM
Here a little snippet from Democracy Now with Amy Goodman and Michael Husdon.
MICHAEL HUDSON: That [inaudible] bailout. They’ve already spent $5 trillion in the last two weeks to double the size of the national debt by taking over Fannie Mae. How can they bail out the gamblers, how can they bail out Wall Street and not—and claim that the Social Security system doesn’t really exist? They’ve used the Social Security money basically for the bailout. There it goes. They’ve made a choice. The choice is to bail out Wall Street against the people.
The Treasury is supposed to represent the government and the economy, and the Fed is supposed to be the board of directors of commercial banks, but now Wall Street plays both sides of the game. It not only supplies the heads of the Fed; it supplies the Secretary of the Treasury. And that’s why I said the class war is back in business with a vengeance.
(via kos)
Posted by: capt
| September 17, 2008 2:36 PM
The Wondrous Death Squads of the American Elite
Woodward revealed -- or, rather, confirmed -- the existence of what he called the key element to the "success" of Bush's escalation of the war crime in Iraq: a "secret killing program" aimed at assassinating anyone arbitrarily deemed a "terrorist" by the leaders of the foreign forces occupying the conquered land.
http://tinyurl.com/5pvb27
----
Surge Protectors: Obama Embraces Bush-McCain Spin on Iraq
Barack Obama has now declared -- on Fox News, no less -- that George W. Bush's escalation of the flagrant war crime in Iraq has "succeeded beyond our wildest dreams." He also proclaimed his "absolute" belief in the "War on Terror," and pledged, once again, "never to take a military option off the table" (not even the nuclear option) against the "major threat" of Iran.
http://www.chris-floyd.com/content/view/1599/135/
----
Biden: "I am a zionist!"
OBAMA/BIDEN - vote for more deaths in '08!
Posted by: as_if!
| September 17, 2008 2:42 PM
Elizabeth Edwards Speaks on Health Care
PHILADELPHIA (Sept. 17) - Elizabeth Edwards said Tuesday she is discouraged that health care is falling on the nation's list of priorities and critiqued the plans of both leading presidential candidates.
"I'm more discouraged than I was before," she said during a talk at the National Constitution Center in Philadelphia. "Shame on us if we don't take the momentum — even with all the other things that are happening — and translate it into a policy."
Edwards said she sparred with Democratic presidential candidate Barack Obama over his health care policy, which mandates insurance for children but doesn't require coverage for adults.
And she had almost nothing good to say about the health care plan of Republican hopeful John McCain, charging that it would simply lower costs by forcing bare-bones policies.
-----
but there is a seemingly unlimited supply of money for the u.s. war machine and even some left over for constant financial "loans" to Israel (which they never have to pay back).
Posted by: as_if!
| September 17, 2008 3:02 PM
Obama Speech from 11 year old kid
http://www.youtube.com/watch?v=-Ih7wHtohw0
****
Wowser!
Posted by: capt
| September 17, 2008 3:03 PM
McCain's Judgment:
He didn't have judgment back then when he was part of the Keating Five,
He didn't have judgment when he called for complete deregulation of the financial industry,
He didn't have judgment when he supported Bush on the Iraq war,
He didn't have judgment when he put Palin as his potential successor.
He didn't have judgment when he said that he "fundamentals" were okay (and no he doesn't understand what his Committees actually have control over apparently).
He didn't have judgment when he was one of the people who was pushing for Privatization of Social Security.
That's a lot of bad judgments for someone who requests that we follow his judgment.
http://tinyurl.com/3kmy5u
Posted by: capt
| September 17, 2008 3:07 PM
Obama smeared by Taheri on Iraq Troop Withdrawals;
Journalist Notorious for False Story on Iranian Jews;
Odierno Warns Iraq still Unstable
Amir Taheri, the rightwing Iranian 'journalist' who is the least accurate reporter to feign practicing journalism since Gutenberg invented movable metal type accused Barack Obama of seeking "a deal to delay US troops' from Iraq when he was in Baghdad last summer.
That makes no sense. The Iraqis have published their negotiating points, and they have been saying that they want a US withdrawal by 2010. That is virtually the same as Obama's plan, so it is highly unlikely that he was urging them to extend that timetable to 2011 or beyond. Taheri has garbled what Iraqi Foreign Minister Zebari told him.
http://tinyurl.com/3g9r8z
Posted by: capt
| September 17, 2008 3:41 PM
The Dead Core of McCain's Republican Party
http://tinyurl.com/59jemc
Posted by: capt
| September 17, 2008 3:59 PM
White House won’t side with McCain on ‘fundamentals’ of economy being ’strong.’
http://www.youtube.com/watch?v=T27HqN9hM40
****
Poor Johnny, the WH won't even back his insane statements.
Posted by: capt
| September 17, 2008 4:12 PM
Bob Kuttner on the radio with Tom Ashbrook. Don't miss. (45 min.)
http://tinyurl.com/588xvt
Posted by: Diff
| September 17, 2008 4:20 PM
http://blogs.abcnews.com/theworldnewser/2008/09/obama-on-the-ol.html
__________________
Tough words from Barack Obama -- moments ago in Elko, NV:
"This is someone who's been in Congress for twenty-six years – -who put seven of the most powerful Washington lobbyists in charge of his campaign – and now he tells us that he's the one who will take on the old boy network. The old boy network? In the McCain campaign, that's called a staff meeting."
Posted by: Hajji
| September 17, 2008 4:32 PM
Retro sportscast:
http://www.youtube.com/watch?v=WiOIEGM7XEs
Posted by: capt
| September 17, 2008 5:14 PM
"The centerpiece of John McCain’s health care plan is a tax credit worth $2,500 for individuals. By coincidence, in her speech at the RNC two weeks ago, Gov. Sarah Palin wore a jacket designed by Valentino Garavani that cost $2,500. "
(ThinkProgress Wonkroom)
Posted by: capt
| September 17, 2008 5:53 PM
Read (or reread) Jared Diamond's "Collapse".
Posted by: David B. Benson
| September 17, 2008 6:43 PM
Jared Diamond's "Collapse".
http://tinyurl.com/y4ydkp
Posted by: capt
| September 17, 2008 7:17 PM
Obama fails lie detector!!!! -
"Software brands Obama 'spinner'
A "spinometer" that can measure how far a politician is stretching the truth has been developed by software scientists.
The programme analyses word use to distinguish between straight and devious talkers and give them a "spin value". Higher scores indicate that a politician is skilled at the "dark art".
Applied to the two US presidential candidates, it identified Democrat hopeful Barack Obama as an expert spinner. His Republican rival John McCain, on the other hand, emerged as just what he claims to be - a regular straight-up guy."
lololo
Posted by: denmac
| September 17, 2008 7:52 PM
"House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “ No.”
Chris Dodd (D-CT) Chairman, Senate Banking Committee.
'Nuff said!!!
Posted by: denmac
| September 17, 2008 7:58 PM
"The day before the Democratic National Convention Speaker Nancy Pelosi (D-CA) went on Meet the Press and told Tom Brokaw:
I’m, I’m, I’m investing in something I believe in. I believe in natural gas as a clean, cheap alternative to fossil fuels. … These investments in wind, in solar and biofuels and focus on natural gas, these are the real alternatives."
Um ... Nancy ... natural gas IS A FOSSIL FUEL !!!!!
I suppose she will claim no responsibility for an upcoming energy crisis, either.
Posted by: denmac
| September 17, 2008 8:01 PM
"Biden vs. Obama on AIG
Jake Tapper has an interesting catch: Joe Biden said flatly yesterday morning, before news of the AIG bailous broke, that he opposed an bailout of the insurance giant. Obama said today -- as I read his indirect statement -- that he supports a bailout, conditionally:
The Fed must ensure that the plan protects the families that count on insurance. It should bolster our economy's ability to create good-paying jobs and help working Americans pay their bills and save their money. It must not bail out the shareholders or management of AIG."
Which is it, then?
Obama's position is almost identical to McCain's current stance; Biden's seems to match McCain's stance yesterday.
Posted by: denmac
| September 17, 2008 8:04 PM
"Barack Obama knows a lot about housing problems. One of his biggest fundraisers helped him buy his million-dollar mansion. Purchasing part of the property he couldn't afford. From Obama, Rezko got political favors including 14 million from taxpayers. Now, he's a convicted felon, facing jail. That's a housing problem."
"That's a housing problem." - hahahahaha!!!
Posted by: denmac
| September 17, 2008 8:08 PM
"For example, what about Sen. Obama's health, with a history of smoking and illegal drugs?
He released one-page on his health compared with the 1,000-page report of Sen. McCain. But there was hardly a peep from the mainstream media.
He promised public financing of his campaign but broke that promise when it was to his advantage, but there was hardly a peep from the mainstream media.
He always talks about being willing to debate certain issues anytime, anywhere. But he turns down Sen. McCain's request for town meetings to discuss the issues.
Sen. Obama knows he is insulated from criticism by the dishonest, fraudulent and biased journalism of the mainstream media and perhaps that is why he is so quick to break solemn promises, to flip-flop and somersault on basic issues and to ignore principles whenever it is to his electoral advantage.
He is part of and in the tradition of the Cook County Chicago political machine, which will do anything to win."
Ouch!!!
Posted by: denmac
| September 17, 2008 8:11 PM
Congress (some time ago) removed the barriers between commerical banks and investment banks.
I'm under the impression this has much to do with the current debacle.
All the congresscritters who voted for this ought to resign in shame.
Posted by: David B. Benson
| September 17, 2008 8:21 PM
Capt,
Sorry, you are dead wrong on your assessment of Amir Taheri. His recent columns detailing Obama's seditious activity in Iraq are accurate. In fact, other media in the region have interviewed Iraq's foreign minister and corroborated everything Mr. Taheri wrote in his columns.
Obama's pressuring of not only Iraq's foreign minister, but our own General Petraeus is absolutely unconscionable. What he attempted to do was intimidate Iraq's government into not adopting an updated SOFA, and unfortunately it appears he has had some success. Since Obama's trip, the negotiations have visibly slowed.
The truth is that Obama has his own ideas about a timetable and he made it ever so clear to the Iraqi's that he won't be bound by any agreements the United States makes prior to the election. The Iraqis understandably were surprised by his assertions and rightfully so. They didn't expect a CANDIDATE to undermine his own country's diplomatic efforts at such a crucial juncture!
Then Obama used calculated lies to mask what really happened during his visit. This has also been verified. When the story broke he made assertions about certain things to make it seem like the Iraqis said them, but in actuality they never did. They came from Obama's mouth only.
the bottom line? Obama is a liar and a charlatan. He's the ultimate "trojan Horse" candidate. He's a socialist in sheep's clothing. Rather than being simply naive with respect to this obvious foreign policy "blunder"; I think he knew EXACTLY what he was doing. And he did it intentionally.
Posted by: Tim
| September 17, 2008 9:10 PM
Foreclosure Phil
NEWS: Years before Phil Gramm was a McCain campaign adviser and a lobbyist for a Swiss bank at the center of the housing credit crisis, he pulled a sly maneuver in the Senate that helped create today's subprime meltdown.
http://tinyurl.com/5a6y9p
Posted by: capt
| September 17, 2008 9:13 PM
Obama the liar...
It's instructive to look at Obama's many mis-characterizations of McCain's public utterances. It is clear that every time Senator McCain makes a speech, the Obama campaign gets busy chopping up all the sentences and RE-ARRANGING them in a deliberate fashion to distort the true meaning of what McCain really said!
It should be painfully obvious to everyone by now, but I forget that people are being spoon-fed Obama's outright lies by the corrupt and complicit media. This is evident by the repeated re-gurgitation of Obama's ads as if John McCain actually said what Obama asserts he said!
Bottom line? Lenin ans Stalin would be proud if they could hear Obama today!
Posted by: Tim
| September 17, 2008 9:19 PM
CBS:
While Palin remains popular among McCain voters, the poll suggests that the McCain campaign may have cause for concern. More than half of registered voters do not think Palin is prepared for the job of Vice President, and even McCain supporters cite "inexperience" as what they like least about her.
Just 17 percent of registered voters say McCain chose Palin because she is well qualified for the job of Vice President. Seventy-five percent say McCain made the choice to help win the election. (Even voters backing the Republican ticket share this view: 53 percent say the Palin choice was to help McCain win in November.)
Posted by: capt
| September 17, 2008 9:20 PM
From the NY Times:
But the Times/CBS News poll suggested that Ms. Palin’s selection has, to date, helped Mr. McCain only among Republican base voters; there was no evidence of significantly increased support for him among female voters in general. White women are evenly divided between Mr. McCain and Mr. Obama; before the conventions, Mr. McCain led Mr. Obama among white women by a margin of 44 percent to 37 percent.
By contrast, at this point in the 2004 campaign, President Bush was leading Senator John Kerry of Massachusetts, the Democratic challenger, by 56 percent to 37 percent among white women.
Posted by: capt
| September 17, 2008 9:21 PM
CBS;
President George W. Bush's job approval rating remains low, with just 27 percent of Americans approving of the job Mr. Bush has done as president.
A record 68 percent disapprove of the president's performance, the highest disapproval rating of any president recorded since Gallup began asking the question in 1938. (The two closest contenders are Truman, who had a 67 percent disapproval rating in early 1952, and Nixon, who had a 66 percent disapproval rating in August 1974.)
Posted by: capt
| September 17, 2008 9:22 PM
Capt,
Give me a break! The true genesis of the sub-prime meltdown should be laid at the feet of those who set it in motion - Bill Clinton and the Democrats.
Now, it's true that President Bush didn't take strong enough action when it became apparent Fannie Mae and Freddie Mac were out of control, but it certainly wasn't Republicans who are at fault for the underlying reasons this got started in the first place.
Try reading up on the Community Re-Investment Act passed by Congress in the nineties for a start on your education!
Another thing, who is the 2nd biggest recipient of donatoins from the two quasi-govt entities? OBAMA!
Posted by: Tim
| September 17, 2008 9:24 PM
Capt,
... and Congress's approval rating is ??? Speak up, I can't hear you!
Posted by: Tim
| September 17, 2008 9:25 PM
Hey Capt!
Since you seem to be so informed, which U.S. Senator spoke on the floor and warned about the condition of Fannie Mae and Freddie Mac in 2005?
Answer? Senator John McCain, my friend.
Posted by: Tim
| September 17, 2008 9:27 PM
Been getting this on out local AM1350 progressive radio station:
This is what Noam Chomsky wrote, possibly after checking out our site, when asked by e-mail if he would be willing to write something we could include in our momentAM radio project. He may be the smartest guy in the world. Or, as L. Fitzgerald has been heard to say, “Hobbes, Locke, Chomsky.” He said:
“A serious person viewing the world can hardly fail to see that we face critical problems, even problems of survival of the species. Every four years attention is focused on the presidential election, which makes good sense, though we should recognize that what the chosen candidate will do depends substantially on the pressures created by activist popular movements. That has always been true in the past, and we can confidently expect that it will be a decisive factor in the years to come. There can be no more urgent task than to develop and sustain these pressures, and the organizations that will construct and implement them.”
http://tinyurl.com/52t2sf
Posted by: capt
| September 17, 2008 9:29 PM
John McCain, Deregulation Hawk, Criminal
Aug 4, 2008
John McCain’s affinity for supporting the deregulation of major industries puts him in league with the worlds most notorious corporate criminals. Deregulation is the tool of the super rich corporate criminal class, and John McCain is their poster child.
First McCain supported deregulation of the Savings and Loan industry. All the while accepting lavish gifts and trips on private jets from Charles Keating who would benefit directly form the legislation. This led to rampant theft of customer savings. The Savings and Loan industry then crashed costing the American taxpayers $30 Billion. McCain was indicted for corruption and Keating went to prison.
Then McCain followed that mess with deregulation of the energy industry. This created kaos in the energy markets, the Enron scandal, and cost rate payers across the country $20 billion in manipulated energy costs. Within a year all competition for gas and oil was gone and prices began rising. Further deregulation of the energy commodities market closed the deal. Now the giant energy conglomerates could own the gas stations, the oil rigs, the refineries, and thanks to John McCain, they now could create their own hedge funds to manipulate supply, demand and the financial markets. A sweet deal for Exxon Mobile who this year raked in more profits than any company in the history of the world, and payed their CEO $500 million in bonuses, while spending less that 2 million to develop new sources of oil from the more than 10 million acres of undeveloped US oil leases Exxon holds.
That was not enough for our hero John McCain. He then supported deregulation of the Mortgage industry which led to rampant lender abuse and the current mortgage crisis. Now with the just passed bailout legislation this will cost taxpayers $150 Billion.
http://tinyurl.com/5oqazu
Posted by: capt
| September 17, 2008 9:33 PM
Despite Claims Today He Warned of this Crisis, McCain in 2007 Said He Didn't See This Crisis Coming
"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.”
How does this claim of foresight square with this interview that McCain gave to the Keene (NH) Sentinel, discussing the subprime mortgage crisis, in December 2007?
Q: “Well the dimension of this problem may be surprising to a lot of people, but to many people, to many others there were feelings that there was something amiss, something was going too fast, something was a little too hot. Going back several years. Were you one of them? Or, I mean you’re a busy guy, you’re looking at a lot of things, maybe subprime mortgages wasn’t something you focused on every day. Were you surprised?
McCain: “Yeah. And I was surprised at the dot-com collapse and I was surprised at other times in our history. I don’t know if surprised is the word, but...
Q: “S&Ls?”
McCain: “I don’t -- what did you say?”
Q: “The S&Ls."
McCain: "Yeah, the S&Ls."
Q: "Is this bigger than that?
McCain: “I don’t know the dimensions of this. It’s hard to know what the dimensions are. As I say, I never thought I’d pick up the paper and see a city in Norway is somehow dramatically impacted by it. When I say ‘surprised’ I’m not surprised when in capitalist systems that there’s greed and excess. I think it was Teddy Roosevelt who said ‘unfettered capitalism leads to corruption’ or something like that, that people have disputed for years.
“But so, in this whole new derivative stuff, and SIBs and all of this kind of new ways of packaging mortgages together and all that is something that frankly I don’t know a lot about.
"But I do rely on a lot of smart people that I have that are both in my employ and acquaintances of mine. And most of them did not anticipate this. Most of them, I mean I can find some that did. But, a guy that’s on my staff named Doug Holtz-Eakin, who was once the head of the Office of Management and Budget, said that there was nervousness out there. There’s nervousness. There was nervousness that we had such a long period of prosperity without a downturn because of the history of our economy. But I don’t know of hardly anybody, with the exception of a handful, that said ‘wait a minute, this thing is getting completely out of hand and is overheating.'
"So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not.”
video:
http://tinyurl.com/5ymfrb
*****
Right from the horses mouth. Of course we can't believe anything McCain says anymore.
I think McCain forgets his previous positions.
Posted by: capt
| September 17, 2008 9:39 PM
Capt,
Speaking out as he did in 2005 about the need for increased scrutiny and regulation doesn't mean he could "forsee" a coming crisis!
In fact, he wasn't claiming he could forsee it in 2007. So?
The salient fact is that he knew very well the vast, unchecked influence that was being wielded at that time and spoke to that issue. Turns out he was right!
Posted by: Tim
| September 17, 2008 10:02 PM
fFr all you folks who think the MSM is going to make a difference with their idiotic rants about Palin, you better think again. There was a time when the big three could make a difference but no more. People see through their bias and dismiss it like last weeks leftovers. The MSM’s big October surprise in 2000 was GWB’s DUI. Didn’t make a dent. And it is even worse now with NBC, MSNBC and CNN clearly in the tank for Obama.
Dig up all the dirt you want but it will not make a dimes worth of difference because there is enough dirt out there on both parties but the MSM will only report one side. That is the reason they are failing miserably in ratings and respectability. I actually tune into MSNBC just to get a good chuckle. It is even better than the Comedy Channel. Comedians they all are.
If you were not so worried about her, you wouldn't care that she was on the ticket. That is what makes it so funny to watch, hear and read your sheer idiocy.
Posted by: tytandanmar
| September 17, 2008 10:27 PM
McCain's scary economic advisor
Not only is former Texas Sen. Phil Gramm a shill for special interests, his deregulation policies helped spur the mortgage crisis, among other financial disasters.
http://tinyurl.com/4sdzku
Posted by: capt
| September 17, 2008 10:35 PM
Rally to Launch "Turn Around America"
http://www.youtube.com/watch?v=Yw38Yx7faAk
Posted by: capt
| September 17, 2008 10:37 PM
McCain On Oil Rigs
http://www.youtube.com/watch?v=MLNBga3DaKM
Posted by: capt
| September 17, 2008 10:43 PM
A personal note to David Corn...
You are doing a great job of rallying your regular visitors to your point of view. All 10 or so of them. Mostly Capt who keeps professing that he is a Conservative but he is about as Conservative as are you.
Do some realistic journalism with regards to all politicians and maybe you will be taken seriously. Until then, most real conservatives that come to this site are only making fun of you and your liberal call to prayers.
You all are still entertaining. Even to this Conservative who will not vote for either candidate this year. Have fun with your greatly diminished influence in the Liberal media. If you fail, there is always PBS.
Posted by: tytandanmar
| September 17, 2008 10:51 PM
S&P says pressure building on U.S. "AAA" rating
NEW YORK (Reuters) - Pressure is building on the pristine "AAA" rating of the United States after a federal bailout of American International Group Inc, the chairman of Standard & Poor's sovereign ratings committee said on Wednesday.
The $85 billion bailout of AIG on Tuesday by the U.S. Federal Reserve "has weakened the fiscal profile of the United States," S&P's John Chambers told Reuters in an interview.
"Lack of a pro-active stance could have resulted in further financial stress and put pressure on the U.S. triple-A rating," Chambers said. "There's no God-given gift of a 'AAA' rating, and the U.S. has to earn it like everyone else."
http://www.reuters.com/article/idUKN1752966920080917
Posted by: capt
| September 17, 2008 10:57 PM
Not to worry, the true conservative that he is, I am sure Capt will come to your aid.
No need to respond.
When you do an honest assessment of Obama's associations with Rezko, money received from Fannie Mae and Feeddie Mac et al, I might give you some serious thought.
While we are at it, can you explain how a sitting representative can except money from a supposedly private corporation that is actually a government creation?
I would like to hear your response. And that goes with all politicians. It just so happens Chris Dodd was the number one recipient and Obama was the third, in only 143 days in the Senate. If you decide to comment it, it better say something about taxpayer money lining the pockets of politicians besides the salary and perks we already pay for. I assume that you, as a serious journalist, are up to the challenge.
Posted by: tytandanmar
| September 17, 2008 11:08 PM
Great job of proving my point capt. You have over have the posts on this site so far. I hope you and David live a long and happy life on the public dole.
Posted by: tytandanmar
| September 17, 2008 11:15 PM
Another challenge David/Capt since this appears to be
a marriage made in the blogosphere,
Why is the MSM ignoring Ralph Nader? Afraid he could take votes away from Barack?
Why is the MSM not spending time on reporting on the candidacy of of Bob Barr?
Because he does not pose as great a threat to your worship of Obama to be president as does Sarah Palin! You fear the difference she is making and will make and you will never have the guts to admit it. Gutless wonders you liberals are. You will not even admit what you fear most.
Even a child will tell you they are scared of something in the dark when there is nothing there. You know something is there and still will not admit it. Enjoy your fantasy world. Insert fingers in your ears and close your eyes while chanting "na na na, I can't hear or see you." Wake up David. Sarah is there and the MSM cannot and will not make her go away.
Posted by: tytandanmar
| September 17, 2008 11:31 PM
David/Capt
I would like a separate response but something tells me you are one and the same. I log onto my own website and post comments all the time.
Posted by: tytandanmar
| September 17, 2008 11:55 PM
What Do Voters Really THINK Of Political Ads?
http://tinyurl.com/3wmaug
Some very interesting stuff.
Posted by: capt
| September 18, 2008 12:01 AM
"Rarely does the National Organization For Women endorse a presidential candidate. On Tuesday, the group announced it is endorsing Democratic presidential candidate Barack Obama. Kim Gandy, president of NOW, talks with Renee Montagne about why the organization is endorsing Obama."
Because he voted while a Senator in Illinois to let a baby die even after surving an abortion. After all, why should the mother be punished?
He's the man!
Posted by: tytandanmar
| September 18, 2008 12:01 AM
[...]
What is Palin trying to hide? We want Washington cleaned up from Republican corruption. We don't need to send McCain and Palin to Washington while dragging this never-ending scandal behind them to the White House. But maybe that's their plan. Get elected and use executive privilege to undermine the investigation. That's what President George W. Bush did in several of his scandals. This is typical Watergate stuff; a tricky Nixonian move.
Palin and the Republicans are attempting a pre-cover up. Refuse to take part in the investigation. Stonewall, ratchet up your enemies list, and scream that this is all a partisan witch hunt by Democrats. That doesn't fly because the bipartisan, five-person panel in her state legislature looking into all this is majority Republican. What Democrats are involved in this alleged conspiracy to harm Palin politically and personally? The Alaskan governor is clearly out of her league concerning foreign policy, but she's well versed in the Watergate excuse playbook. Every time a prominent Republican is caught dirty dealing, the right-wing attack machine says it's a political witch hunt by Democrats, but can never offer any proof or even a hint of it.
Palin originally lied and said no pressure was applied from her office. Then, e-mails and phone records surfaced showing one of her aides indeed trying to shake down Monegan, who was fired on July 11. Palin then gave the old "I knew nothing about this" response. Then, all of a sudden, she concocts this tale about firing him because he didn't support her reform efforts. When did she realize he wasn't backing her reform efforts? It took her two years to figure that out? Was he the only person fired who allegedly wasn't falling into line? And why didn't she say all that in the beginning instead of playing innocent? You know why? Because she's a shady, lying, federal-money-grabbing GOP politician ... but she's ready to be president and reform the federal government.
And who selected her? John McCain, who's so rich he can't keep up with how many homes he and his wife own; who's more connected with lobbyists than most Washington politicians from either party in the Senate or the House; and who's spent the summer making all kinds of incoherent policy statements and outright lying on several issues ... but he's the better person to be president.
This ain't lipstick on a pig-it smells like a rat.
http://tinyurl.com/46jvwl
Posted by: capt
| September 18, 2008 12:04 AM
Aversions David/Capt? You can' do better than that? Remember, most people in this country identify themselves as conservative than liberal. I hope you enjoy your life in hypocracy. Actually, I should say, I hope you enjoy your political death. At least, you would understand that.
Posted by: tytandanmar
| September 18, 2008 12:05 AM
Keep proving me rignt David/Capt. Why the big post on Palin? Call her a pig all you want. Call her a pig with lipstick on all you want. But tha pig with lipstick scares the panties of you liberals, and I mean you males when I say that that. At least liberal women have the gonads to wear boxers when they "feel" like it.
Posted by: tytandanmar
| September 18, 2008 12:09 AM
"Two reports today from the LA Times and the New York Times suggest that the momentum in the 2008 campaign has shifted to Obama."
The wool is being pulled off of the public's collective eyes and McCain/Palin are being exposed for the liars and fakes that they really are.
McCain has exposed himself as someone who will do and say anything to get himself elected.
The Bush Administration has taken this country to the brink of financial ruin due to cronyism and greed - for getting us into this quagmire that is Iraq and allowing this subprime mess to happen in the first place. China owns most of our debt and foriegn companies are buying our land, including our toll roads, at an incredible rate. Meanwhile our infrastructure - roads, bridges and tunnels are literally falling apart. Bush/Cheney ruined our international reputation and it will be a long time before we recover from it - if ever.
Bush/Cheney lied to get us into Iraq, opening up profiteering to their cronies. They orchestrated torture and lied about it. They outed a CIA agent as retaliation against her husband because he exposed their lies. They implanted industry leaders, Christian fundamentalists and lobbyists into every government agency which has undercut the very fabric of the way the government has been run in the past.
Oh, and don't forget the 4700+ men and women who have been killed so far in Iraq. Don't forget the millions of Iraqis who have been killed and wounded and who will keep on suffering because their country is ruined with depleted uranium. Don't forget about the hundreds of thousands of Iraq war veterans whose lives are in shambles and Bush/Cheney have turned their backs on them. Don't forget about the fact that we deliberately started this war in Iraq and let Afghanistan flounder to the point where the Taliban is becoming more powerful. And don't forget that Bush doesn't really care about "catching" Osama Bin Ladin..
And this is just a start. If I were to try and list all of the heineous, impeachable offences of the Bush Adminstration, I would be working on this for months.
So when people try to say that John McCain is the person that is best qualified to get people to work together to correct all of the wrongs of the Bush Administration, I can't help feeling sorry for them.
Posted by: flan
| September 18, 2008 12:20 AM
McCain 1, Obama 0
First executive decision.
Obama chooses Biden as VP.
McCain chooses Palin as VP.
No praise from the MSM for Obama on his choice.
Nothing but discourse and condemnation for the pick of Palin, not against McCain but against Palin and her family.
If you idiots do not think this is not obvious in fly-over country, you are dead wrong. Forget about the states you thought were in play. You better be thinking about states you thought you had in the bag.
You are becoming so obviously an arm of the Democrat party it is no longer necessary for others to point out.
Brokaw holding up a campaign button suggesting Jesus was a community organizer, Pontius Pilot was a governor?" That is almost worse than Dan Rather.
Besides, who is Obama running against?
Posted by: tytandanmar
| September 18, 2008 12:25 AM
Yes you can, Flan. You can believe. That people will not recognize the obvious. Remember this. In 1992, independents and moderates helped give Ross Perot 19 % of the vote. I do not know one Liberal who voted for Gerge Bush 41. If only half of those people vote McCain/Palin, Obama loses since Clinton won by a percentage less than half that amount.
Posted by: tytandanmar
| September 18, 2008 12:30 AM
Alaskans question Palin's e-mail secrecy
Governor routinely uses private account for state business
[...]
Even before the McCain campaign plucked Palin from Alaska, a controversy was brewing over e-mails in the governor's office. Was the administration trying to get around the public records law through broad exemptions or private e-mail accounts?
Activists, still fighting to obtain hundreds of e-mails that were withheld from public records requests earlier this year, say that's what it looks like.
The governor's Yahoo account is "the most nonsensical, inane thing I've ever heard of," said Andree McLeod, who is appealing the administration's decision to withhold e-mails.
"The governor sets the tone and the tone that has been set by this governor is beyond the pale," McLeod said. "Common sense tells you to use an official state e-mail account for official state business."
http://tinyurl.com/48q86t
Posted by: capt
| September 18, 2008 12:32 AM
Palin does scare this liberal. And she should scare you too. She should scare anyone who has an ounce of grey matter in their head.
Palin is worse than a pig. Pigs are very intelligent and caring creatures. Palin couldn't even run Wasilla as mayor - a town of only 5,500 people! She had to hire a city manager to do the work - and Wasilla didn't even have to run the fire dept and police since it was taken care of by the county or borough or something like that. Palin doesn't care about anyone but herself and her religion. She would rather force a woman to go through a pregnancy after being raped then allow her to make the decision herself. I don't think Jesus would.
Go ahead, talk her up all you want but you can put lipstick on an ass and it will still be an ass.
Posted by: flan
| September 18, 2008 12:36 AM
Asked for "specific skills" she could cite to rebut critics who question her grasp of international affairs, she replied, "I am prepared."
"I have that confidence. I have that readiness," Palin said. "And if you want specifics with specific policies or countries, you can go ahead and ask me. You can play 'stump the candidate' if you want to. But we are ready to serve."
GOP presidential nominee John McCain stepped in, pointing out that as governor of a state that is oil and gas plentiful, Palin was familiar with energy. She knows it to be "one of our great national security challenges," he said.
He also cited her nearly two years as commander of Alaska's National Guard. "I believe she is absolutely, totally qualified to address every challenge as the next vice president of the United States," McCain said.
http://tinyurl.com/424c5m
Posted by: capt
| September 18, 2008 12:37 AM
"Friday the Attorney General's office promised state witnesses would comply with subpoenas the Legislature issued last week. Tuesday the Governor's Attorney General flip flopped, and announced that state witnesses wouldn't comply because, well, and I'm paraphrasing here - - he's changed his mind. And in what has to be an idea hatched after a 4th Martini at Chilkoot Charlies, Governor Palin's attorneys have filed a motion to dismiss the ethics claim she filed against herself two weeks ago. Yup. She really filed a complaint against herself. Tuesday she said she's discovered, after a thorough investigation of herself, that she's done nothing wrong. Does anyone know how to get a hold of Jon Stewart and Tina Fey? "
Ha! Too funny
http://www.huffingtonpost.com/les-gara/round-2-of-mccain-trooper_b_127101.html
Posted by: flan
| September 18, 2008 12:45 AM
Fairbanks Newspaper: A nonpartisan fact-checking organization says Gov. Sarah Palin is “not even close” to the truth in her claims that Alaska supplies 20 percent of the country’s energy.
Posted by: flan
| September 18, 2008 12:47 AM
Palin Has a Track Record of Managerial Malfeasance: She'd Drill the U.S. Economy into the Ground, Given the Chance -- A BuzzFlash News Analysis
Though the Republican Party has been falling all over itself to present Palin as a fiscal conservative, her leadership history shows she's anything but. After a nail biter of an election, Mayor Palin inherited a balanced budget. It wouldn't be balanced for long, though.
Not that she didn't raise revenues. After slamming her predecessor for doing essentially the same thing, Palin raised the city's sales tax (considered by many economists to be the most regressive tax possible).
In a poorly coordinated effort to build a hockey rink/sports arena for Wasilla, Palin mismanaged municipal funds from the very beginning. She waited way too long to seal the deal to buy the property the rink was supposed to occupy. Because of this, the owner of the property, the Nature Conservancy, sold the land to a real estate investor named Gary Lundgren. Instead of finding another site for the structure (perhaps there wasn‘t enough land to choose from?), Palin marched the city into court.
The city lost the suit on appeal, costing Wasilla residents anywhere from $1.67 million to more than $3 million in legal fees and other unnecessary costs, according to the city‘s attorney.
Lundgren says he offered to give the city some of his land free-of-charge, but Palin decided she wanted to hold out for more. In the end, the city obtained 80 acres of Lundgren's land via an eminent domain grab, which cost them almost seven times more than the cost of the original, larger piece of land in reimbursement dollars. And that doesn't even include legal fees and interest the city had to pay to Lundgren. That may not be the end of it, as Lundgren is seeking more in interest payments. On top of that, the Anchorage Daily News reported in 2006 that the arena itself was still operating at a deficit.
The hockey rink was a microcosm of the fiscal mismanagement visited upon Wasillians over Palin's two terms as mayor. In all, she racked up $20 million in debt for Wasilla, or about $3,000 per resident.
And Palin hasn't improved with time on the economy. In fact, she may be worse now. Earlier this month, trying to capitalize politically upon news of the federal takeover of doomed mortgage companies Fannie Mae and Freddie Mac, Palin said that the bailout was necessary because the two companies were costing taxpayers too much money. But in reality, taxpayers weren't paying for these Wall St. companies until the buyout. They were, for all intents and purposes, private companies. The government bailout means American taxpayers will now finance their rescue.
It's probably not that Palin was confused; the McCain campaign had been briefed on the issue by the government. But we've got to hand it to her: Palin's explanation does sound better on the stump than the sad truth.
In light of all that, we have to hand it to McCain's top economic advisor, Carly Fiorina, for telling the truth about Palin: The Republican candidate for vice president is not qualified to run a company. We'd like to add to the end of that statement, "...much less the United States of America."
The chances of, should McCain win the presidency, Sarah Palin becoming president are much too large to leave to chance. Her history of drilling into debt is a clear sign of her inability to lead this nation. But it does put her in good (or rather bad) company with other make-believe fiscal conservatives, such as McCain and the Bush Administration.
++++++++++++++++++++++++++++++++++++++++
OK sheeple, keep drinking the kool-aide. White is Black and Green is Red. 2 + 2 = 5. You can put lipstick on a liar and she'll still be a liar.
Posted by: flan
| September 18, 2008 1:34 AM
Dear Tyrannosaurusdanmar:
You are trying to be funny, right, when you say:
"If you decide to comment it, it better say something about taxpayer money lining the pockets of politicians besides the salary and perks we already pay for."
You see, besides being sloppy, like most folks who don't think much ("comment it"), you appear, in the eloquent words of Sen. Obama, to revel in your ignorance. Until the recent takeover, Fannie and Freddie didn't get any taxpayer money. None. As in zero. So, they couldn't pass any of it on to the politicians. Now that you understand (?!), I'm sure you will quit making poorly worded, ill-considered, riddled-with-misspellings rock-headed comments, and become an intelligent, erudite supporter of Sen. Obama.
You're welcome.
Posted by: Unitarian Patriot
| September 18, 2008 1:43 AM
Be Afraid, Be Very Afraid: The Palin Propaganda Machine
"Had the Palin family soap opera played out in the Obama household his bid for the presidency would have been gutted by right wing hysteria about promiscuous black welfare mothers in training and irresponsible baby daddies." Yet the V.P. candidate from the Great White North is a hit - so far. "The Palin choice was a transparently racist bid for the votes of white women enraged by the prospect of a black man in Hillary's White House."
http://www.blackagendareport.com/index.php?option=com_content&task=view&id=788&Itemid=1
Posted by: flan
| September 18, 2008 7:49 AM
Looks like somebody's been drinkin' again!
Posted by: Hajji
| September 18, 2008 8:08 AM
Obama can't do it, but somebody else needs to point out that McCain puts the "old" in the "old boys' network".
Posted by: rw
| September 18, 2008 9:06 AM
When Will The Media Love Affair With Palin End?
---------------------------------------------------------------------------
So far the media is just in love with Palin. She is a darling angel that can do no wrong. Not a bad thing anywhere. But now that the cover is coming off, when will the media get wise and go after her like they do Obama?
When are we going to see video and hear audio of nutty preacher the way we did Obama's nutty preacher? When are they going to talk about her affinity for killing animals from helecopters as opposed to real hunting? When are they going to point out that all she wants to do is make speeches and not answer questions?
When??
This was a topic on a city-data.com forum started on 9/6. The MSM has been fawning all over Palin for two weeks and only now are they starting to take their beer glasses off and are starting to expose her lies.
The argument that the MSM is an arm of the Democratic party is a fallacious as the label of "liberal" media. The media is owned by major corporations who have been feeding off the Republican driven deruglation. They are not going to bite the hand that feeds them. The fact that any negative press is getting out about McCain/Palin is because they are so obviously lying about themselves and Obama that they have to address it.
http://www.city-data.com/forum/2008-presidential-election/426649-when-will-media-love-affair-palin.html
Posted by: flan
| September 18, 2008 9:16 AM
Bizzare McCain Remarks
_____________________
http://www.huffingtonpost.com/2008/09/18/bizarre-mccain-remarks-ap_n_127346.html
Late Wednesday night, news made its way from the other side of the Atlantic that John McCain, in an interview with a Spanish outlet, had made a series of bizarre responses to a question regarding that country's prime minister.
"Would you be willing to meet with the head of our government, Mr. Zapatero?" the questioner asked, in an exchange now being reported by several Spanish outlets.
McCain proceeded to launch into what appeared to be a boilerplate declaration about Mexico and Latin America -- but not Spain -- pressing the need to stand up to world leaders who want to harm America.
"I will meet with those leaders who are our friends and who want to work with us cooperatively," according to one translation. The reporter repeated the question two more times, apparently trying to clarify, but McCain referred again to Latin America.
Finally, the questioner said, "Okay, but I'm talking about Europe - the president of Spain, would you meet with him?" The Senator offered only a slight variance to his initial comment. "I will reunite with any leader that has the same principles and philosophy that we do: human rights, democracy, and liberty. And I will confront those that don't [have them]."
______________________________
Posted by: Hajji
| September 18, 2008 10:04 AM
"We can't bust heads like we used to. But we have our ways. One trick is to tell stories that don't go anywhere. Like the time I caught the ferry to Shelbyville. I needed a new heel for m'shoe. So I decided to go to Morganville, which is what they called Shelbyville in those days. So I tied an onion to my belt. Which was the style at the time. Now, to take the ferry cost a nickel, and in those days, nickels had pictures of bumblebees on 'em. Gimme five bees for a quarter, you'd say. Now where was I... oh yeah. The important thing was that I had an onion tied to my belt, which was the style at the time. You couldn't get white onions, because of the war. The only thing you could get was those big yellow ones..."
Posted by: capt
| September 18, 2008 10:15 AM
Hajji,
Was that McCain's moose in the headlights moment?
I can't wait for the debates!
Posted by: capt
| September 18, 2008 10:26 AM
Jeb Bush throws His Brother Under the Bus:
During a Florida town hall event with John McCain, Jeb Bush appeared to throw his brother George under the bus. Bush gave a rousing talk about throwing the bums out of Washington. Perhaps he forgot that his brother is the chief bum? Read more here. See the excerpt below:
"Reform becomes contagious," former Florida Gov. Jeb Bush, brother of the current president, said at a McCain town hall meeting this week in Orlando. "If you start to dream bigger dreams and you start challenging the basic assumptions, you can change how things work, and we've done it in Florida, and the Good Lord knows we need to do it in Washington, D.C., and John McCain is the right guy at the right time to make that happen."
http://www.huffingtonpost.com/2008/09/17/jeb-bush-throws-his-broth_n_127281.html
This is such a joke. The right guy at the right time? Yeah, right.
Also, "The 'Good Lord' knows we need to do it in Washington." Again, talking to the GOP's base - the christian right. Jeb is in real deep with them in FL.
Posted by: flan
| September 18, 2008 10:52 AM
Hey, does anybody know how to put somebody in a kill file on this site?
denmac never even attempts to comment on the subject under discussion, but only regurgitates the moronic lunatic fringe ravings that anybody with an IQ above room temperature recognizes as the product of a poster child for psychotic loose association and astoundingly poor reality testing.
He is a troll (and not even a remotely interesting one) who merely exists to ladle the same old Rovian sh*t from the RNC's bottomless cesspool into the clear waters of rational discussion and, until he evolves to the point where he can make something even approaching a reasoned and rational argument either for his own side's positions or against his opponents', his contribution to this site is merely to waste bandwidth and cause a lot of unnecessary scrolling to get to the next coherent posting.
Posted by: Blue Sun
| September 19, 2008 8:35 PM
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