DJIA Regains 2/3 of Yesterday’s Loss

So much for the failure of the bailout in Congress leading to a collapse on Wall Street. Today, the market regained 2/3 of what it lost yesterday (+485.21 / +4.68%).
I heard one person on TV the other day saying that the stock market is K-MART and there is a big “Blue Light Special” going on [...]

It Didn’t Have To Happen

Orwellian

This is purely Orwellian. What are we, China or North Korea now?
“Obama Kids Sing for Dear Leader”

Here’s the beautiful part of this. Turns out this “grassroots” video was produced by NBC News head honcho Jeff Zucker.
The likes of Jeff Zucker, Holly Schiffer, Peter Rosenfeld, Darin Moran, Jean Martin, Andy Blumenthal, and [...]

Barack Obama Comes Out In Support Of Wall St. Welfare Bill

Obama calls on Americans to support rescue plan
Democratic presidential candidate Barack Obama on Tuesday called for Americans to get behind attempts to salvage a $700 billion rescue plan for the financial sector, saying that if Wall Street fails ordinary people will also be hurt.
Meanwhile, a Harvard economist has a different point of view:
Bankruptcy, not bailout, [...]

Gerry Connolly Hangs With MoveOn.org Posterboy John Murtha

Congressman John Murtha, most famous for falsely claiming that U.S. Marines had committed cold-blooded murder and being a part of the ABSCAM scandal, today held a fundraiser for Gerry “The Big Doofus” Connolly’s campaign for Congress.  (By the way, I love how the fundraiser is based in Maryland and not Virginia.)

RSVP
 
Susan O’Neill & Associates
301-xxx-xxxx

MurthaCampaign@xxxxxxxxx.com

 
Please Join
Congressman [...]

Wall St. Welfare Bill Fails; Consumer Confidence and Stock Market Up

Consumer confidence unexpectedly improves in Sept.
The Conference Board said Tuesday that its Consumer Confidence Index is now at 59.8, up from a revised 58.5 in August. Economists surveyed by Thomson/IFR expected a reading of 55.5.
As of 1 p.m. the Dow Jones Industrial Avg. was up (+274.15 / +2.64%) at 10,639.60.
So much for the Armageddon scenario [...]

How About Using Hard Data For Financial Decisions For A Change?

The stock market plunged 777 points yesterday (percentage-wise that is less than 1/3 the amount it plunged in one day back in 1987) following Congress killing the monstrosity of a bailout package that had emerged.  On one newscast, they reported a floor trader saying that Congress should be jailed after the bill went down in [...]

Democrats Fiddled While Fannie Mae and Freddie Mac Were Burning

The current economic crisis, as some have put it, is the result of Fannie Mae and Freddie Mac “exploding” and taking with it all this collateral damage.
So, it might come as a surprise to many that back in 2004, Republicans were calling for more regulation of Fannie Mae and Freddie Mac as problems with their lending [...]

Conservatives – Why is this Bailout a Good Idea?

In the absence of good reasons to support this bailout, we must oppose it.  I urge all Republican members of Congress to vote against any plan to prop up corporations who are tanking through their own actions.  This is absurd.
Why should U.S. taxpayers foot the bill for risky subprime loans? 
Why is a massive check to the tune [...]

Thanks Nancy!

For killing the bailout bill!