Quotes Of The Day
Email"There are those who say we should simply let these companies go belly-up. But looking at those bellies hasn’t been much fun these days." — Massachussetts Congressman Barney Frank
"Bear Stearns gets help. Lehman Brothers does not. The Federal Reserve and the Treasury Department are acting like insurance claim adjusters." — Jonathan Koppell, Yale University
"Watching some financial stocks just get wiped out in recent months, I often hear a voice in the back of my head, and it is the same voice as one of those dealers in Las Vegas who coolly tells you as he sweeps up your chips after you’ve busted in blackjack: ‘Thank you for playing, ladies and gentlemen.’" — Thomas Friedman, The New York Times
"No one knows what to do. We are in new territory here. This is a different game. We’re not here playing soccer, basketball or football. This is a new game and we’re going to have to figure out how to do it." — Senate Majority Leader Harry Reid
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sadly, he is right and what they are sweeping away is people lives savings and retirement.
Posted by: thetruth | September 17, 2008, 2:39 pm 2:39 pm
This congress never knew what to do about anything.
Posted by: dl | September 17, 2008, 2:51 pm 2:51 pm
They are stealing wealth from the middle class and the poor and getting reimbursed again from what they forced the taxpayer to pay for. Isn’t it amazing when they can privatize their profits into offshore bank accounts, and then have congress force US to pay their bills, ya gotta love this country, cause after this nobody will be able to afford to leave it. Forget recession HELLO Depression! And the Democrats AND Republicans left you to pay the tab. Are you angry yet, what will it take for you to take some kind of action. Mayber after they invade Iran and gas goes to 8.00 a gallon, perhaps?
Posted by: argh! | September 17, 2008, 2:55 pm 2:55 pm
Wasn’t it Ron Paul who said that we are going broke, we are entering new unchartered territory, the feds policies have created a huge bubble while the rest of the republican field laughed at him?
Posted by: antenian | September 17, 2008, 3:10 pm 3:10 pm
Harry Reid and Nancy Pelosi prove that, if you’re from a ‘safe’ district or state, you can be elected enough to rise through the ranks of DC power — even if you’re completely incompetent!
Washington is broke and the shallow one doesn’t offer a clue about how to fix it!
Posted by: dl | September 17, 2008, 3:22 pm 3:22 pm
Yes Ron Paul was right, I supported him, even though I knew he couldn’t win. America can never change back to what it was supposed to be, you can’t put the Genie back in the bottle. We fought a Civil War to stop the Federal Government form this and we lost. Congress has had 150 years to collect there power over us and this is where were at. Welcome to the Socialist Republic of Corporate America, and Premier Bush.
Posted by: Tomjoad1776 | September 17, 2008, 3:30 pm 3:30 pm
Tomjoad1776 – So sad yet so true. I also supported Paul. The Federal Reserve under Greenspan deserves so much of the blame. The Fed created the illusion of prosperity on a mountain of debt. I can’t believe what is happening. Capitalism for profits, Socialism for losses.
Posted by: Ben Straub | September 17, 2008, 3:38 pm 3:38 pm
You know that Visa Card that probably everyone in here has??? Taht’s unsecured debt. You know all those big mortgages with no down payment that people trash & then walk away from? That’s unsecured debt.
Everything that no one pays back is going to come back to the citizens of the USA as debt. There is no free lunch.
You’d better hope the hell that there aren’t too many of those lovely Visa Cards out there buying crap in China or who knows where the hell else without paying for it. That’s more unsecured debt. And it’s NOT EVEN OUR STUFF BUT WE’LL PAY FOR IT.
Posted by: midwestlady | September 18, 2008, 12:33 am 12:33 am