March 27, 2008

Bush & his buds are saying "no bailout" for housing gamblers, and supposedly no bailout for banks. Yeah, right.

Talk is cheap. And just like so many other things with this crew, they say one thing and then do another.

The Bush Administration has done and will do whatever they need to do to rescue the investment banks and toxic lenders, in addition to Fannie and Freddie. They're lying to the American people, again, and the taxpayer is gonna eat it again in the end.

But if you read these quotes, even though their banker buddies will get billions, they're pretty clear - the housing gambler ain't getting anything (except for his $600 check in a few days). Let's see how long they can keep up that front.

"It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.”

- John McCain, March 2008, ending his presidential campaign

"It is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions."

- Ben Bernanke, in a bald-faced lie, August 31, 2007

"It's not the government's job to bail out speculators or those who made the decision to buy a home they knew they could never afford."

- George W. Bush, August 31, 2007, before sending $600 checks to everyone

"Housing prices need to fall further to permit shell-shocked housing markets to stabilize and policy-makers should not interfere with that process"

- Goldman Sachs CEO (oops, I mean US Treasury Secretary) Henry Paulson, March 2008

20 comments:

phil said...

LA Times - 27 Mar 08
When it opened the discount window to non-banks, the Fed said it would continue to make such loans available for six months. In a speech Wednesday before the U.S. Chamber of Commerce, Paulson insisted that if investment banks wanted the right to borrow from the Fed after that six-month period, they should open their books.

Aha!! No income verification required for now. Sounds familiar, doesn't it?

Anonymous said...

"We support a strong dollar policy."

That's another quote you can list from our wonderful "leaders".

Ed said...

Keith,

Did you ever really believe there would be no bailout? If so, you don't understand anything about politics.

Ed said...

I've lost my house and job. I'm a victim. It isn't my fault. HELP ME HILLARY, HELP ME!!


WASHINGTON (AP) -- The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters are increasingly demanding immediate government relief as the economy ebbs.

Members of Congress, particularly Democrats, will press the issue when they return from their spring break next week. Bailout proposals for homeowners abound, including several measures to get lenders to rework home loans.


Translation: if you are an FB get ready to party like it's 1999

keith said...

Ed

I believe there WILL be a bailout, and it'll be in the TRILLIONS

And the US dollar will be destroyed

Any other questions?

Ed said...

Then we are in agreement. Yet you for some reason seem shocked and continually surprised this is happening.

Refuse to buy overpriced said...

Republicans = Massive bailout for lenders and investors.

Democrats = Even more massive bailout for lenders and investors, plus a bailout for borrowers.

The Democratic party is hopeless, and the Republican party needs to clean house.

If McCain doesn't understand how completely we Republicans need to change direction, we need to lose on purpose in November with a Ron Paul write-in campaign. This will give us a chance to rebuild the party on a sound foundation for the future.

Whatever damage Obama does in his 4 years can be repaired, but this country needs to have at least one honest party.

Anonymous said...

Bwahaha!!! Americans are complete tools for the corporations!!!!!

Anonymous said...

This government is going to keep taking the poison pills until the Asians stop manipulating their currencies. That looks like the bottom line.

How we all recover from this mess I have no idea.

Send Bush to Kindergarten said...

"I know people and fish can live together"

-George W. Bush

area 51 said...

Well here you go, your love-in, rock star Obama's plan to save the Universe:

"To fix the economy, Obama proposed relief for homeowners and an additional $30 billion stimulus package to address the nation's economic woes.

-Expand oversight to any institution that borrows from the government.

_Toughen capital requirements for complex financial instruments like mortgage securities.

_Streamline regulatory agencies to end overlap and competition among regulators.

While he laid out a half-dozen principles for closer scrutiny of the financial markets, he offered no specifics, such as which agencies should be reorganized or exactly how the government should go about peering over the shoulders of bank executives."

---
Limp noodle politicking. G0 on keep the love-fest going.....

Still pining for the whiny Rue Paul???

http://news.yahoo.com/s/ap/20080327/ap_on_el_pr/democrats_economy

redondo_beach_dude said...

IT'S NOT MY FAULT I DON'T HAVE PERSONAL RESPONSIBILITY!

Anonymous said...

What idiots. Of course the Bush-Cheney Crime Families will bail out their banker buddies. America is all about Socialism For the Rich. And they are going to send you the bill.

Anonymous said...

Barack is proposing $30 more billion in Walmart checks to consumers. Argggh.

Anonymous said...

3 houses for the price of one in florida, or in N.Y terms 10 houses. why is anyone left in N.Y?

k.w. - southern ca. said...

The "bail-out" is *only* for the corrupt Fed, WallStreet and Banker pigs.

If house debter, flippers, speculators or people living within their means go under, it makes no difference to them - they got their money.

~~~~~

Ed said...
Keith,

Did you ever really believe there would be no bailout? If so, you don't understand anything about politics.

Rich/California said...

You idiot HP'ers, looks like people like me (FB as you folks like to call folks like me) will have the last laugh. CNN is reporting that after Easter recess Democrats will propose a housing bail out bill. People like me borrowed up the wazoo and had a lot of fun doing it and now we will have the last laugh while you HP'ers moan, groan, bitch and get upset over the housing market bail out. LOL, LOL, LOL, HA, HA, HA.

Anonymous said...

Hey Rich California,

Wait till you see the strings attached to you that come with the bailout. You will S#$% your concrete foundation, you a$$HIOL.

Anonymous said...

No bailout!! Fed only has 200B left in T-bills to sell. Unless they start printing money like its the end of the world - which I doubt due to MASSIVE Weimar inflation, there is nothing else.

Everyone is fucked three ways to Sunday... including Rich/California...Hahahahaha

Anonymous said...

pkk (g'ma) here--

One reason there may be no push to bail out homeowners is that believe it or not, there is only so much money, and the financial structure is going to need it so that we don't all lose our little bank deposits.

No, I am not a sympathizer with that, I just think that's the reality they are dealing with, and add to the mix, their particular slant/belief system on what matters most in the scheme of things.

I think what is being defended is the Capitalist Finance system. I think however, even the guys at the top, Paulson, world central banks and bankers, Bernanke, are shocked at what they are discovering. I believe the behavior of those inventing, selling, pimping the financial inventions of the last 20 years, created a world and law unto their own. No concern for consequence, except the consequence of profit played a part.

I do believe we are watching the death throes of this way of organizing human economy. Apart from coping with the fallout, thinking outside the box will be very difficult.