Analysis Topic: Politics & Social Trends
The analysis published under this topic are as follows.
Tuesday, September 30, 2008
Wall Street Mega-Crash: The Last Bank Standing / Politics / Credit Crisis Bailouts
By: Steve_Selengut
Dateline Washington, October 19th (get it?) 2010: the Peoples Bank & Trust of America has now established itself as the only bank of any kind in the USA, totally owned and managed by the US House of Representatives. A 2/3 majority must now approve all investment banking transactions; your district representative's staff reviews individual mortgage applications; and all 401(k), IRA, and remaining employer pension assets have been rolled into the Social Security Slush Fund. Read full article... Read full article...
Tuesday, September 30, 2008
Bernanke and Paulson in the Dark on Bailout Impact / Politics / Credit Crisis Bailouts
By: Mick_Phoenix
Pre Vote Commentary - Welcome to the Weekly Report. This week we use the words of Ben Shalom Bernanke to describe why the $700Billion bailout will fail. I am going to assume the Bailout is enacted in one form or another and is probably announced around the Far East market opening times. However, there is a possibility that if Congress has not agreed then no soothing words will be forthcoming and a crash in share prices is used to "galvanise" action. We shall see.Read full article... Read full article...
Tuesday, September 30, 2008
How To Stop A Run On The Banks / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
The global banking system has frozen up. There is no trust between banks and there is no trust by depositors of banks. This has caused a run on the banks, and has led to the failure of Washington Mutual and Wachovia. Internationally, several large banks have failed. Bloomberg is reporting Libor Rises Most on Record After U.S. Congress Rejects Bailout .
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Tuesday, September 30, 2008
Political Leaders and Pundits Are Clueless About Bailout Rejection / Politics / Credit Crisis Bailouts
By: Richard_C_Cook
Stephen Pearlstein is the Washington Post 's Pulitzer Prize-winning business columnist. In print and as a TV talking head—like on Chris Matthews' Hardball late last week—Pearlstein is one of the foremost media cheerleaders for the $700 billion Wall Street bailout bill.
Or should we call it the Bush-Paulson-McCain-Obama- Pelosi-Reid-Dodd-Frank Wall Street bailout bill?
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Monday, September 29, 2008
How Voter Fury Stopped The Bailout Plan / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
Inquiring minds are considering the Wall Street Journal article How Voter Fury Stopped Bailout
Left-Right Combo By Opponents Put Plan on the Ropes.
The defeat in Congress of a proposed $700 billion economic-rescue package followed an intense outpouring of voter anger, fanned by politicians, interest groups and media on the left and right, that overwhelmed calls from the president and top lawmakers to pass the deal.
Monday, September 29, 2008
The Bailout Battle Continues: What's Next? / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
We won the battle. Please remember this is a war.Nancy Pelosi, Barney Frank, Treasury Secretary Paulson, Obama, and McCain all still want to pass this stupid bill.
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Monday, September 29, 2008
Republicans Defy Bush and Vote NO to Socialist Bailout Bill / Politics / Credit Crisis Bailouts
By: Richard_C_Cook
FINALLY, someone said “No” to the criminal gang that runs the U.S. economy when the House voted down the Bush-Paulson $700 billion Wall Street bailout plan by a vote of 228-205.
Shame on the Democrats! Speaker of the House Nancy Pelosi, Majority Leader Steny Hoyer, and Majority Whip Rahm Emanuel delivered “yea” votes from 60 percent of Democratic House members and thereby gave the bill the only chance of passage it had.
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Monday, September 29, 2008
Congress Votes NO to Bailout Plan- We Won!!! / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
I want to thank each and every one of you who took the time and energy to defeat this monstrosity. This was an enormous victory for Democracy.205 Yes - 228 No - We Won!!!!
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Monday, September 29, 2008
Financial Catastrophe Entire Global Financial System in Collapse / Politics / Credit Crisis 2008
By: Stephen_Lendman
The crime of the century. The greatest one ever. Author Danny Schechter calls it "Plunder." The title of his important new book on the subprime and overall financial crisis. Economist Michael Hudson and others refer to a kleptocracy. A Ponzi scheme writ large. Maybe an out-of-control Andromeda Strain. An economic one. Deadly. Unrecallable. Science fiction now real life. Potentially catastrophic. World governments trying to contain it. Trying everything but not sure what can work. Maybe only able to paper it over for short-term relief. Buy time but in the end vindicate the maxim that things that can't go on forever, won't. Read full article... Read full article...
Monday, September 29, 2008
Bailout Plan No Solution to America's Ponzi Scheme Economy / Politics / Credit Crisis Bailouts
By: Mike_Stathis
Risks of the Proposed Bailout: Part II - Would I support a bailout under any circumstances? Maybe. But only if there was a clear plan laid forth with specific guidelines and it was to be executed by credible and competent leaders. And only after I saw dozens of bank, Wall Street, and mortgage CEOs and others have their assets stripped and sent to prison. But all of Washington has been way behind the curve the entire time. And they have not raised the issue of accountability as I define it. Read full article... Read full article...
Monday, September 29, 2008
Financial Crisis Bailout or Not, Economic Depression is Upon Us / Politics / Credit Crisis Bailouts
By: Mike_Stathis
Risks of the Proposed Bailout: Part I - McCain, along with Paulson, Bernanke, Bush and others are using scare tactics hoping to rush the approval of this historic banking bailout plan. Threats of a “disaster” and a “severe economic crisis” have been interpreted by the media as a “depression” if the bill is not passed immediately. Politicians continue to scare the public stating that without a bailout, pension and 401(k) plans will be threatened. Are the conditions very serious? Definitely. The point is that they are so serious that a bailout won't do much at this point other than waste taxpayer money with no real accountability. Finally, as far as I can tell, this bailout really doesn't do much if anything to help taxpayers. Read full article... Read full article...
Sunday, September 28, 2008
Mainstream Media's Failure to Understand the Credit Crunch / Politics / Credit Crisis 2008
By: Gerard_Jackson
It's is a rule of the universe that every effect has a cause. And so it is with the current financial crisis. Instead of starting with those economic theories -- that should be rightly called fallacies -- we need to take heed of the unfortunate fact that the vast majority of people are getting their information from the media. I say unfortunate because not only are the great majority of journalists incapable of explaining the processes that brought about the crisis, they are also outrageous political bigots who see it as their duty to blame every conservative politician in sight, even if it means lying. Read full article... Read full article...
Sunday, September 28, 2008
World of Unreal Finance Hitting the Real Economy / Politics / Credit Crisis Bailouts
By: David_Chu
“It's not the economy, stupid!” - Bill Clinton's campaign slogan was: “It's the economy, stupid!”
Actually that was James Carville's maxim and battle cry for the 1992 presidential election. Mr. “Ragin' Cajun” Carville, as you probably don't remember, was the commander-in-chief of Bill Clinton's first campaign for the White House. He was and is married to Mary Joe Matalin who happened to be working on George H.W. Bush's 1992 re-election campaign! Ms. Matalin was also an assistant to President George W. Bush and a special counselor to Vice President Dick Cheney until 2003.
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Sunday, September 28, 2008
Banking System in Meltdown, Fed Fights to Keep Dead Banks Alive / Politics / Credit Crisis 2008
By: Mike_Whitney
The financial system is blowing up. Don't listen to the experts; just look at the numbers. Last week, according to Reuters, "U.S. banks borrowed a record amount from the Federal Reserve nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression." The Fed opened the various "auction facilities" to create the appearance that insolvent banks were thriving businesses, but they are not. They're dead; their liabilities exceed their assets. Read full article... Read full article...
Sunday, September 28, 2008
US Congress Bailout Deal Passes But... / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
Well I am now convinced there is a deal of sorts. The New Your Times is reporting Breakthrough Reached in Negotiations on Bailout .Officials said that Congressional staff members would work through the night to finalize the language of the agreement and draft a bill, and that the bill would be brought to the House floor for a vote on Monday.
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Saturday, September 27, 2008
Presidential Debate, Who Won? / Politics / US Politics
By: Mike_Shedlock
Today we ponder the question "Who Won The Debate?" I will get to the specifics in a moment but last night I emailed a close friend that there were two winners and two losers. Anyone care to guess who my two winners and losers are?
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Saturday, September 27, 2008
Socialist Republican Corruption of Capitalist Free Market Mechanisms / Politics / Credit Crisis Bailouts
By: Money_and_Markets
Jack Crooks writes: You can't possibly have hidden yourself from the news of the $700-billion planned bailout that's working through Congress this week. And I won't mince words — I consider it a big slap in the face for the free market system.
Henry Paulson repeated over and over again exactly how agitated, disgusted, annoyed, infuriated, angered, embarrassed, and irritated he felt about asking for this amount of money, or any money at all. Sounds sincere if you stop it right there.
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Saturday, September 27, 2008
US Presidential Campaign and the Bailout of Corporate America / Politics / US Politics
By: Walter_Brasch
Rosemary and Walter Brasch write: It was Monday evening and the phone rang—again. It was probably the fifth time in two hours. A pleasant voice said she was from the—oh that really doesn't make any difference. Both presidential candidates have volunteer minions on the phones and Internet day after day, month after month, for what seems like years.Read full article... Read full article...
Friday, September 26, 2008
Nouriel Roubini: Paulson Bailout Plan is a Disgrace / Politics / Credit Crisis Bailouts
By: Mike_Shedlock
Inquiring minds are interested in Nouriel Roubini's thoughts on the Paulson Plan. Please consider the RGE Conference Call on the Economic and Financial Outlook..and why the Treasury TARP bailout is flawed .
The Treasury plan (even in its current version agreed with Congress) is very poorly conceived and does not contain many of the key elements of a sound and efficient and fair rescue plan. Like in my 10 step HOME plan many other economists and commentators (Charles Calomiris, Raghu Rajan, Kotlikoff and Mehrling, Luigi Zingales, Martin Wolf, Barry Ritholtz, Chris Whalen and twenty others whose views have been featured this week in the RGE Monitor group blogs) have presented ideas that would have minimized the cost to the US taxpayer of a resolution of this financial crisis. It is a disgrace that no professional economist was consulted by Congress or invited to present his/her views at the Congressional hearings on the Treasury rescue plan.
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Friday, September 26, 2008
Dangerous Government Meddling in Free Markets to Stoke Inflation / Politics / Credit Crisis Bailouts
By: Adrian_Ash
"...The dangerous market has been and gone. Only the danger of government meddling remains..."
WE LOVE THIS NUGGET of irony, idiocy or just plain cant so much, we have to repeat it – clutching our sides and doubling-up in laughter, tears streaming down our disbelieving faces:
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