The problem with Obama is he is incapable of staying on message.  He HAD a winning one with "multi-tasking" and then backed off at the first little sign of criticism.  I am beginning to believe that his problem is the exact opposite of Kerry's.  IN other words instead of sticking with a failed message too long, he is dropping winning ones too quickly.

So McCain's an economic genius that will fix the country, eh?

Well, good luck with that.  I'm glad he responded so quickly...around a week since this became a problem.  Good reflexes...and conveniently interferes with the debate.

Wonder if there will be any other issues that coincide with debates...or we'll never get to see them duke it out.

~Zoo

McCain tried to reform this years ago.  When is Obama going to respond instead of worrying about his campaign?  Still waiting from that call from Pelosi I guess.

When you say that what you mean is that he once, two years ago, in his decades as a senator, he warned about the Freddie Mac and Fannie Mae? That doesn't mean McCain gets to call himself a financial reformer. He's consistently voted for less regulation of the financial markets (per Katie Couric's interview with the Beauty Queen).

Wrong chamber - Reid.

I saw reports on the new that seem to show that maybe if we hold back a bit on this "bailout" that the markets may actually correct themselves. A few examples are JP Morgan acquiring WaMu and Warren Buffet paying 5 billion for Goldman Sachs. I admit I know very little if anything about the stock market and these companies merging or buying each other out. But that sounds like a good thing to me in a way.

Actually, Obama is the one who thinks he can solve all of our problems and he can do it while multitasking a radio station and sending a text while driving. McCain simply has a plan to avoid using so much of the tax payers money. A plan, not a solution, a plan.

Well thank you. I hope it works out too.

Smart politics. Hmmm, McCain sounds better and better every time.

Come on now Zoo. Do you really wanna have Obama ridiculed on live TV? I mean, he does a good job all by himself as it is every time he does not have a teleprompter there to help.

And?  Less regulation is not a bad thing, and regulation isn't the cause of this problem.

 

Yes, but isn't Pelosi pulling Obama's strings?

Not bloddy likely!  Have you seen what happens to the stock exchange when they hint one way or another on the bailout?  If we hold back then confidence in our system will be lost, people will make a run on their banks, our dollar will be worthless and we'll be in a new depression.  I'm not saying that the $700 billion is the answer.  I do believe they need to do something before the opening of the market on Monday.

Do you realize how gross the image you just put in my mind is?  Ewwww!

Hussein continues to show his "LEADERSHIP" through his vote, his total now is "PRESENT 160 TIMES" BECAUSE THERE IS NO TELEPROMPTER IN FRONT of his face telling him how to vote and he gets confused very easy

Maybe you should look up the Glass Steagall Act that was enacted during the Great Depression and then look up the Gramm-Leach-Bliley Act which repealed certain parts of it in 1999.

 

Maybe you should look up the CRA.  That is the root of the problem.

No it isnt.....Most of those loans are not ARM's...And part of fixing the GSA's involves expanding CRA in order to get some of the bad ARMs that were made by Mortgage companies not related to CRA switched over to Fixed Rate loans that are lower risk.

http://www.reuters.com/article/pressRelease/idUS135259+07-Jan-2008+BW20080107

ARMs are only part of the problem.  The problem is people getting loans they cannot afford.  And what did the CRA do?  Make home owenership "affordable" to those that could not before, and are defaulting now.  YOu keep trying to bob and weave around the truth.  The truth is that the CRA is just "Good intentions" in bad legislation.  The CRises was caused by democrat politicans wishing to protect their pork so protecting the rotten institutions until the rot showed through the exterior.  But then it was too late (you do no see the rot in a tree until it falls).

You brought up ARMs.  But that is just a dodge to deflect scrutiny of the core problem.  The whole reason that home ownership worked in the past is that  it does require discipline.  And that has to be learned while saving for a down payment.  WHen you give something to someone - the value is diminished since they did not earn it.  And so with diminished value, there is less incentive to protect it "They gave it to me, they will save it for me!"

It does not and cannot work that way.  Even in communist countries, people are not "given" a house to abuse.  They are "rented" one to take care of.  WHich they probably do not anyway, but then that is Comrade's problem.

I guess it is obvious by now that McCain was clueless to what the problem actually is seeing how his statement does nothing to address it. Not only would these things not solve the credit problem but it would also make it harder for banks to raise more capital.