You JUST KILLED ANY CHANCE you had of getting my vote, 'bamer!!!
FUCK YOU, and FUCK McCain, too!!!!!
"McCain, Obama urge action on crisis; Appeal to House to pass bailout bill" by Associated Press | October 1, 2008
DES MOINES - White House rivals John McCain and Barack Obama combined televised attack ads with statesmanlike appeals for bipartisanship yesterday as they vied for political gain in the shadow of the worst economic crisis since the Great Depression.
Translation: Bipartisanship = AGAINST the PEOPLE!!! But you are a "statesmen" if you REJECT the WILL of the PEOPLE!!!!
Last night, both campaigns said the candidates will be in Washington this evening for a scheduled Senate vote on the financial bailout plan.
At a rally of about 12,000 people at the University of Nevada at Reno, Obama called for Americans to get behind attempts to salvage the $700 billion rescue plan. "To the Democrats and Republicans who opposed this plan yesterday, I say: Step up to the plate and do what's right for this country," he added.
Now it is a RESCUE! Yeah, for WALL STREET FAT CATS!!!!!
That's what is RIGHT for this country, huh, 'bamer?
McCain told reporters there were steps the administration could still take "with the stroke of the pen to help alleviate the crisis gripping our economy."
Then WHY DON'T THEY?! Why do they need $700 BILLION of OUR MONEY?
McCain mentioned using a federal stabilization fund to back uninsured money market accounts, which the Treasury Department is already using to guarantee money market mutual funds.
He also suggested the federal government start using its authority to purchase up to $1 trillion in mortgages. As both candidates called for a bipartisan solution, a less high minded skirmish broke out on the airwaves. While McCain backed the proposed bailout, the Republican National Committee unveiled an ad blasting the plan. --more --"
And as far as the increase in deposit insurance, MOST AMERICANS DO NOT HAVE $100,000 dollars in the bank, so WTF? Just a SUGAR SWEETENER for that DAILY BOWL of MSM and GOVERNMENT SHIT, huh, 'murkn?
How's it taste now? Still like shit, huh?
"Obama, McCain in accord on FDIC limit of $250,000" by Brian C. Mooney, Globe Staff | October 1, 2008
In rare agreement, presidential candidates Barack Obama and John McCain yesterday endorsed an increase in bank deposit insurance limits, but legal and academic specialists said the idea may do little to solve the fast-moving financial crisis and could cause new problems over time.
Unreal!! So EVEN THIS "sweetner" is SHIT!!!!
"It's almost like throwing a bone to Main Street, as it's being described," said Ann Graham, professor at Texas Tech University School of Law and a former regional counsel of the FDIC. "Frankly, it's a little bit misleading . . . It's almost a [public relations] tactic as opposed to a substantive change."
I would have used ANOTHER WORD for the item they are throwing at us!
Graham said the increase could provide some benefit to small business owners who need to maintain payroll accounts of more than $100,000 in a single institution. But she said the FDIC since 2006 already insures Individual Retirement Account deposits up to $250,000. And depositors can also set up revocable trusts, known as payable-on-death accounts, that are insured for up to $500,000 from which they can make withdrawals or change heirs at will.
(Blog author just shaking his head at the scale of MSM lies we are being fed)
By increasing the amount of deposits to be insured, Graham said, the FDIC is redefining the small investor it was designed to protect when it the agency was created in 1933 during the Great Depression. It would also be easier for banks to attract larger amounts from depositors, who would not need to worry what the banks were doing with those funds because the larger deposits would be insured.
"From a political point of view, there's a lot of appeal, but from an economic point of view, other than calming the moment, it's not very good," said George G. Kaufman, professor of finance and banking at Loyola University Chicago.
(Blog author just shaking his head at the scale of MSM lies we are being fed)
Kaufman said inclusion of the increased insurance limit may help attract enough new votes to win passage, "but it will generate a huge moral hazard problem," referring to the unintended consequences that occur when parties are insulated from risk. "It might help deal with the panic today, but it sets the stage for crises down the road."
But NO ONE in WASHINGTON is listening because THEIR PAYMASTERS are DEMANDING a TAXPAYER GIVEAWAY!!!
"Virtually every mortal is fully covered by the $100,000 limit, and it's not that hard to get all your deposits covered under the existing regulations," said John L. Douglas, former general counsel of the FDIC and now in private law practice in Atlanta. "You can split them among several banks, and indeed, one of the virtues of having a $100,000 limit is that people pay more attention to their banks."
The FDIC, which insures deposits of almost 8,500 banks and savings associations, now has about $45 billion in its insurance fund and will propose raising premiums in the upcoming weeks to ensure that the fund remains strong, said David Barr, spokesman for the FDIC.
That's because the fund is GOING BROKE!!!
"The fund, which stood at $45.2 billion at the end of June, has been severely depleted."
So we are looking at a TAX INCREASE, aren't we?
"No depositor has ever lost a penny of insured deposits and never will," Barr said. --more--"
Never say never, government liar!!
I mean, that is what the POLITICIANS and MSM are saying: OUR SAVINGS DEPOSITS are AT RISK!!!
So WHICH IS IT, LIAR?
