Markets Ignore Bailout

post from Taylor Marsh on 06 October 2008 01:45:17 PM. © Taylor Marsh

BY TAYLOR MARSHMcCain gets nasty in New Mexico, which has conservatives in a swoon.Obama hits McCain on the economy in North Carolina: I think it is very important for Secretary Paulson and Federal Reserve Bank chairman Bernanke to move swiftly and[...]

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Sleazy McCain Watch

post from Talking Points Memo on 06 October 2008 01:44:00 PM. © Talking Points Memo

McCain rallies start in referring to Obama as Barack Hussein Obama. Late Update: We're here at TPM World HQ listening to McCain spokesman Tucker Bounds be interviewed by Andrea Mitchell. And the subtext of even Mitchell's questions seem to be that[...]

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McCain = Bush = GOP

post from TalkLeft on 06 October 2008 01:42:00 PM. © TalkLeft

Via Matt Yglesias, McCain surrogate Rep. Heather Wilson (R-NM), argued on Face The Nation that Barack Obama is un-American because he criticizes President Bush.

video details and more

We all know McCain and the Republicans are not un-American so they must be in agreement with the Bush Administration's actions of the past 8 years. So it is official, McCain and the Republicans are running on the accomplishments of the George W. Bush Administration. Rep. Wilson's clarity is refreshing.

By Big Tent Democrat, speaking for me only

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The Daily Rant

post from My Left Wing - Front Page on 06 October 2008 01:40:26 PM. © My Left Wing - Front Page

Nothing new to Rant? about on my part, other that was I or was I not right about the McCain campaign and the "consorting with a terrorist" smear? The Obama campaign might as well play up McCain's "connection" to G. Gordon Liddy, a convicted Watergate criminal whose radio show McCain was on as recently as last spring; hell, the people who would listen to that hate-mongering fascist aren't people who would vote for Obama anyway.

And check McCain's tax returns to see if he itemized his gambling winnings/losses; I don't care which it was (although there is a rumor that Cindy's had to bail him out by paying gambling debts more than once), but he should have reported it either way and apparently didn't.

While we're on the subject, a man who's on the Senate committee that oversees and regulates Indian casino gambling (twice chairman of the Indian Affairs Committee, on it since 1987 and an author of the law that allowed Indian casinos in the first place) really has no business at the Mashantucket Pequots' Foxwoods in the craps room devoted to high rollers with the Pequots' own lobbyist at 2 AM shortly after conceding to Bush in the primaries in 2000, even if he wasn't the chair at the time, and even if he was winning. Not to mention the visits to Las Vegas and the gambling industry (supposedly ex-)lobbyists on his payroll.

Against gambling? No, I'm not per se. I do, however think that someone who's regulating part of the industry should not be gambling in the venues his committees regulate, and especially not with their lobbyists in tow. There is much too much temptation for the casino to forgive his losses---as a gesture of good-will towards him, of course!---and for him to accept their "bail-out". (No, I have no evidence that that has ever happened...but the temptation is still there, it's still a bribe, and does anyone really think McCain would have reported it if it did happen? These guys are his friends.) Take it off-shore, someplace you're not writing the rules; there are plenty of places in the Caribbean.

I also still think that someone with a penchant for poker (like Obama) is more likely to do well negotiating with other world leaders. And pizza-and-beer with the boys once a week isn't in the same league as $100 a throw at the craps tables where risky behavior is concerned, when the dice are running cold and you're sure they're going to turn your way any minute.

Rant? away, everyone!

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Leaving the Activist-Centric Perspective

post from Open Left - Front Page on 06 October 2008 01:37:34 PM. © Open Left - Front Page

The polls are getting crazy, with Obama having a ten point lead in Virginia and a progressive[...]

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CNN's Chetry did not challenge McCain adviser's
misleading attack on Obama's Afghanistan comments

post from Media Matters for America on 06 October 2008 01:32:03 PM. © Media Matters for America

On the October 6 edition of CNN's American Morning, co-host Kiran Chetry didnot challenge McCain campaign senior adviser Nancy Pfotenhauer'sassertion that Sen. Barack Obama "claimed that the American military wasjust air-raiding villages and bombing civilians" in Afghanistan, and that Gov.Sarah Palin "brought that out in the debate and said,'I'm not -- that's a reckless statement and frankly don'tknow whether he's qualified to be commander in chief if he's makingstatements like that.' "[...]

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Bailout Oversight

post from Daily Kos on 06 October 2008 01:30:17 PM. © Daily Kos

Committee on Oversight and Government Reform:

Committee to Hold Hearing on Causes and Effects of the Lehman Brothers Bankruptcy
The Committee is holding a hearing to examine the regulatory mistakes and financial excesses that led to the bankruptcy filing by Lehman Brothers. The hearing will be held at 10:00 a.m. on October 6, 2008, in Rayburn House Office Building room 2154.

Click here for live video of the hearing.

The following witnesses have been invited to testify:

Dr. Luigi Zingales, Professor of Finance, University of Chicago

Dr. Robert F. Wescott, President, Keybridge Research LLC

Nell Minow, Chairman of the Board and Editor, The Corporate Library

Gregory W. Smith, General Counsel, Colorado Public Employees’ Retirement Association

Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute

Richard S. Fuld, Jr., Chairman and Chief Executive Officer, Lehman Brothers Holdings

Documents and Links
Chairman Waxman's Opening Statement (164 KB)
Supporting Documents for Chairman Waxman's Opening Statement (1 MB)
Oral Testimony of Luigi Zingales (38 KB)
Written Testimony of Liugi Zingales (131 KB)
Testimony of Robert F. Wescott (163 KB)
Testimony of Nell Minow (32 KB)
Testimony of Gregory Smith (700 KB)
Testimony of Peter Wallison (94 KB)

Today begins the parade of after-the-fact oversight of the financial markets bailout bill passed last week.

The problem from a practical perspective is that with the Congress adjourned until next January, the hearings can go on, but they can't actually do anything with any of the information they glean from them without reconvening. They can't legislate based on what they learn, and they certainly can't enforce any subpoenas, even when they are in session. So anyone who doesn't feel like showing up can just decide not to, I guess. See also: Troopergate.

So they're pretty much for show. Might as well watch the show, though. After all, you're paying for it.

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Palin: God Has Richly Blessed Floridas Natural
Energy Resources

Campaigning in Clearwater, FL today, Sarah Palin said something rather weird.Speaking about energy policy, she talked about Florida's potential energy sources, saying, "God has so richly blessed you here!" She saw potential for wind and solar power[...]

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Palin Trots Out Lame Excuse for Defensive Post in
Nebraska

Now this is just plain embarrassing. In 2004, George W. Bush pulled in about 60 percent of the vote in Nebraska's second congressional district, but there have been signs for a while that the districts single electoral vote may be in play. Indeed, just[...]

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Times' own reporting otherwise'>NY Times' Harwood quotes Palin's
"palling around with terrorists" claim, but not Times' own reporting otherwise

In an October 6 article, New York Times political writer JohnHarwood wrote that Gov. Sarah Palin "assert[ed] that" Sen. BarackObama's "relationship with Bill Ayers, the onetime WeatherUnderground figure, constitutes 'palling around with terrorists.'" But in reporting Palin's claim, Harwood did not mention that the Times itself, in an October 4 article that Palincited for her claim, reported that "the two men do not appear to have beenclose. Nor has Mr. Obama ever expressed sympathy for the[...]

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