bhkad

Leave it to you to gravitate to the least pertinent aspects of the post in regards the financial situation we've been discussing.

McCain tried to prevent this.

One man.

Standing up to overwhelming odds.

He deserves our help.

So he can help US.

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But, when all is said and done, Senator McCain has not spent decades aiding and abetting people who hate America. http://jewishworldreview.com/cols/sowell060508.php3

SouthernDemocrat

Please show me where the great deregulator tried to regulate the derivatives markets. Because thats all that would have fixed this problem.

__________________
Charles Krauthammer describing Obama:

"He's got both a first-class intellect and a first-class temperament."

disneydude

Q: Who believes that the "Fundamentals of the economy are strong?

a. Sarah Palin
b. BHKad
c. John McCain
d. All of the above

__________________
Sarah Palin/Jeb Bush 2012
"Bringin' Bush back to the Whitehouse"

obvious Child

Did you even read...I know the answer to that. It's obvious that a pro-McCain blog posted it as McCain's attempt to stop this whole crisis. If one actually reads the bill, one would notice that it does effectively little to nothing to actually curtail the problems that caused the crisis. So at BEST his bill would have marginally done something and realistically nothing.

__________________
"Maybe God doesn't care how you say your prayers, just as long as you say them" - Jeffery Sinclair

disneydude

Tankman - the movie starring John McCain

He stood against all odds to fight against the radicals of tyranny.....who is this masked man.....

Why its......McTankie

Fighting for the radical right.....he deserves their help.

Coming to a dollar theater near you.

bhkad

In this regard McCain was like "Tank Man."

His efforts may have been unsuccessful. He may have never stood a chance.

But who tried to do more?

Who else tried doing anything?

Rather than faulting McCain we should be praising his efforts and rushing to his campaign to encourage him.

We have seen that a single Senator has little power to go against the tide by themselves. That is why we need to give McCain and Palin, two real reformers, a mandate to clean up Washington.

Or would you ALSO (you and disneydude) have nit picked at Tank Man, too?

bhkad

Again, who did more?

Who did ANYTHING?

Mr. Franklin Raines did something.

And now that this crisis has erupted Mr. Raines has become an embarrassment to the Obama campaign.

But we may never get to the bottom of it because Obama's Brown Shirts have scrubbed him from the record as they have done so many times before.

Here is what Raine's Wikipedia page says.

obvious Child

Neither. The crisis is neither parties' or candidates' fault. Do you see anyone in the know blaming candidates? No.

Learn what actually caused the crisis. Then we'll pay attention to you.

And nice fallacy of changing the direction. An actual read of McCain's bill is hardly what you claim it to be. Next time, do your homework instead of blindly trusting a partisan blog.

danarhea

"The fundamentals of our business are strong."

-Ken Lay, just before the collapse of Enron.

__________________
Jack Kevorkian for President's Physician: 2012

prrriiide

The fundamentals of our economy are NOT strong.

One of the basic fundamentals to the operation of our economy is the availability of credit. It is the lifeblood of small businesses, and small businesses have been the only sector creating jobs so far this year. Jobs that people desperately need as the other sectors outsource their previous jobs to India and Bangledesh, or just eliminate them altogether. Without the availability of credit, that lone oasis of job expansion is doomed.

Availability of credit is crucial to bigger businesses as well.

Without available credit, the automotive sector takes an enormous hit. When people cna't get credit or are loathe to use what credit they can get, car sales plummet as we have seen in the last two quarter's reports from that sector. Now, with sales down between 18.5% and 24.2%, the Big 3 are going hat-in-hand to Uncle Sam for some walkin' around money, too.

The availability of credit powers the durable goods sector of the economy. It powers the housing market. Utilities use it for short-term energy purchases.

Any financial adviser or credit counselor will tell you that there is good debt and bad debt. Good debt is applied to things that appreciate in value - real estate, business ventures, certain commodities, bond holdings, etc. Bad debt goes the other direction; things that DEpreciate like cars, televisions, appliances, etc. What has happened is that the amount of bad debt owed by people and businesses with inadequate resources to repay has led to a dearth of credit available for qualified people and businesses to make "good" debt purchases. It has reached the point that financial institutions (banks, investment houses, insurance companies - they are all the same under GLBA) are not extending credit to each other.

This is the crux of the crisis. The companies in the most dire straits - Lehman, AIG, Merril Lynch, Bear Stearns - cannot get the credit to make the loans necessary to re-structure their debts; a necessary and fundamental business practice. So now you have Wall St. titans of 150 year's standing biting the dust.

There aren't any easy answers to the credit shorfall. But unless and until the credit shortage can be fixed anything else is window dressing. Or putting lipstick on a pig, if you will.

Availability of credit is the MOST fundamental element of our economy, and it's severely broken. If a dilletante musician in a punch-clock job can understand that, is it too much to ask that the potential President also gets it?