The Ghost of Snapped Shot

Or, welcome to my low-maintenance heck.

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Obama Wants Credit For Bailout; Claims McCain Deserves None by DMartyr on 28-Sep-2008

Unbelievable. What an arrogant a$$ the Democrats have chosen for their candidate.

Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.

Instead, Obama said he deserves credit for making sure the proposal includes safeguards for taxpayers. Obama said he is inclined to support the bailout because it includes increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.


Let me see if I understand this - Obama thinks he deserves credit because he is "inclined to support" the safeguards? Because he wants to protect the tax-payers in this $700 BILLION bailout - the result of Democratic failures?

The article continues with more lies and misleading statements from the King of Uh's:

Republican presidential nominee John McCain announced last week that he was suspending his campaign to focus on the crisis.

Asked during an interview on CBS' "Face the Nation" whether McCain deserved credit for bringing lawmakers together, Obama said "no."

"Here are the facts: For two weeks I was on the phone everyday with Secretary Paulson and the congressional leaders making sure that the principles that have been ultimately adopted were incorporated in the bill," Obama said.


Obama made some phone calls. McCain suspended his campaign. Which of these two men truly cares about America? I'll give you a hint: It isn't Mister Barack NMI Uh-Uhbama.

[desertdweller: ;)]

  Daily Fodder

Comments:

#1 captainfish 28-Sep-2008
Any time the government gets to determine the salaries of private employees, you know we are not the great USA anymore. We have turned into USSR-2.

This bill needs to be challenged in court if that remains.
#2 DMartyr 29-Sep-2008
Well, there is the qualifier "...of firms that receive government help."

I don't see anything wrong with limiting compensation (not salary, mind you, these are 'bonuses') to high ranking officials within a failing company. Either the company eats the loses or, if they get tax-payer help, they should only get the bare minimum. (I think CEOs should get nothing if a company fails under their leadership, at least not until employees receive their earned pensions and retirements.)

If the compensation packages were as lucrative from a bailout, what would discourage CEOs from running companies into the ground?

Personally, I don't like the idea of bailing out private companies. I understand the need - to protect the economy. But to give major corporations that safety net at tax-payer expense undermines a free society & capitalism.
#3 Kevin 30-Sep-2008
DMartyr, if you are saying that corps that request and receive government bailouts, your argument seems fair (IMAO).

But more emphasis needs to be put on a few things:

- Assets need to be linked to their true value instead of this 'marked to market' thing.
- It must be an OPTION to opt in to government assistance. As you know, it was not for that Cali bank and WaMu, or even AIG, though the 'air' of an option at least existed there.
- We MUST consider the effect of doing nothing at all. It would take courage that our politicians simply don't have, but it (IMAO) won't be nearly as calamitous as people who will benefit from a bailout are suggesting. We've got to remind them of this.
#4 Kevin 30-Sep-2008
Oh, and FWIW, our net worth has dropped ~22% (I haven't checked since the big bump today) for the year, so don't think my opinion is that of an outsider. I'm taking a hit just like the rest of America's investors. A big one, albeit hopefully temporary.

It just seems like hyperbole to suggest that this crisis is going to affect our paychecks. It won't. Worrying about 'well maybe it WILL!' and trying to react to that worry is the same kind of stupid crap that people who worry that global warming will kill us all in the next few months do.

Cut it out. Quit whining, and get back to work.
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