Which Is The More Bankrupt, Wall St. Or DC?

I find myself as much if not more concerned over the current bankruptcy we're seeing in Washington, than any new one being announced on Wall Street. The whole thing is so ugly, I'm not even interested in saying too much, so as to avoid an overly-vicious and just as worthless rant.

I suspect we will see a deal of some sort by week's end. But in typical Washington fashion, Big Picture - it will solve relatively little. What it will accomplish is giving Washington an out to escape the wrath of voters now and set them up to manipulate the story line down the road in the interests of saving their butts, again.

For many reasons, most of them political and partisan, there is no effective leadership in this country today. Barack Obama certainly doesn't represent anything like serious new leadership, though he talks a good game.

And as for the Maverick McCain, you're more likely to see pictures of him back-slapping the same political degenerates that got us here, as you are to hear anything truly bold from him. He can't take a bold stance as, not only would he have to attack Democrats, he'd be forced to attack his own party near the conclusion of his political campaign.

Anyone who doesn't have serious concerns for this nation right now, concerns going well beyond Wall Street and finance, is kidding themselves. And anyone who believes anything Washington will come up with by week's end is going to make a significant difference on the broader issues that matter most is guilty of the same thing.

This election may actually become a non-election of sorts - with more Americans wondering what it is that comes next, and not seeing anything among the current choices that offers up a genuine vision for America going forward.

We are at one of those low moments in political history. It is certainly a struggle to remain confident in America's worth and future right now. I believe we need to remind ourselves that America's true value is, and always has been its people - not its politics, or even its institutions most subject to political, or financial whim.

That's a good thing, as scanning the horizon from Wall Street to the Potomac just now, it's nearly impossible to see any value at all.

Comments

[Anon]

Was its people. Not sure if that is still true.

It is afterall "the people" who have stopped saving money and started living on credit. It's "the people" who bought houses they couldn't afford with mortgages they now claim they don't understand. Same people have the lowest voter turnout of the Western world and it continues to fall. Same people who no longer know their own history, not even the lefty version taught in school, let alone have the ability to find China on a map.

The things that once made America great: self reliance, a strong sense of community, shared moral values, a belief in freedom of the individual have basically been trained out of the population over the last 40 years.

I don't believe the same resevoir of strenght still exists among most Americans that existed during the Depression or WWII.

[JustOneMan]

I am in some ways happy thay we are hiiting rock botton..just as in a 12 Step Program you have to hit the bottom before you can come to grips with the reality of the situation...America deserves the shit in DC that claims to representing the people...we continue to vote these career idiots in year after year..this is long over due...it is pathetic watching these DC morons act like they are looking after my interests...many of them like Barry and even McCain never worked real jobs, paid bills and had to save for retirement...

I asy let it burn and Ill start playing mu violin!

[seekeronos]

"--- This election may actually become a non-election of sorts - with more Americans wondering what it is that comes next, and not seeing anything among the current choices that offers up a genuine vision for America going forward. ---"

Then I say, vote third party, vote for the new blood against the old, and engage in mass-badgering of the kleptocrats who can't be shifted by the vote until they relent.

And this is why the sheeple need to be clubbed over the head quite soundly and repeatedly with the message of Dr. Ron Paul and Dr. Chuck Baldwin:

The message of liberty, the message of limited, fiscally responsible government... the preaching of living within your means... and the teaching of sound, paleo-conservative ideology in our schools.

I'd also go a step further and bring back the mandatory reading of the King James Bible - especially the Gospels - in grammar school, but I know that'd make liberal heads everywhere explode. :)

[Fred Beloit]

When the bailout was supposed to be passed in the House, the market went WAY Down. The bailout failed to pass. The next day the market went up significantly. Here is the spin the MSM is trying to put on the bailout failure. If you are a Financial Times reporter you turn the market's message upside down:

Wall Street higher on hopes for bail-out
By Alistair Gray in New York

Published: September 30 2008 13:49 | Last updated: September 30 2008 15:39
US stocks rose sharply, clawing back some of the losses during the previous session’s brutal sell-off, on hopes that Washington would revive a plan to rescue the financial sector from collapse."

Who says HOPE is not a strategy.

[Lala]

Come along and sing a little song for "hope" and "change"

http://www.reason.com/blog/show/129137.html

[Lala]

And no "grassroots" song should be without the credits

http://confederateyankee.mu.nu/:

Here’s a partial list of those who helped produce this “grassroots” effort:

* Jeff Zucker — American television executive, and President & CEO of NBC Universal.
* Post-producer (former choreographer?) Holly Shiffer.
* Motion picture camera operator/steadicam specialist Peter Rosenfeld (appropriately enough, worked in “Yes Man,” a movie about ” a guy challenges himself to say ‘yes’ to everything for an entire year.”
* Darin Moran, another motion picture industry professional, who just finished filming — how appropriate — Land of the Lost.
* Andy Blumenthal, Hollywood film editor.

[Lala]

how Sing For Change came to be -

https://www.singforchange.com/About_Us.html

[jaime]

"And as for the Maverick McCain, you're more likely to see pictures of him back-slapping the same political degenerates that got us here,"

By Keating, I think Dan's got it!!!!!!

[Fred Beloit]

jaime gumm's in the tank, for Barney Frank. Sing it out gumby.
http://images.google.com/images?ie=UTF-8&oe=UTF-8&rls=com.google:en-US:official_i&gfns=1&sourceid=navclient&q=gumby&um=1&sa=X&oi=image_result_group&resnum=1&ct=title

"Jame "Buffalo Bill" Gumb: It rubs the lotion on its skin. It does this whenever it's told."
http://www.imdb.com/title/tt0102926/quotes

[mary]

So now on Kudlow they are saying that the Senate may vote the bill in first. But, they aren't clear whether it is the original bill or the new bill or some other incarnation that the people have not and may not see.

Noticed the rhetoric has racheted up to "we are getting many letters urging us to pass the bill". But, everyone you speak with, except the financial and wall street types and still, even some of them aren't in favor of the bill, is against the bill.

[Lala]

What they didn't say is that they are getting many, many, many letters against the bill. It's all in the wording.

[Lala]

Mary,
The are calling it a "rescue" bill. Like I said, it's all in the wording.

http://www.breitbart.com/article.php?id=D93H6MG00&show_article=1

[mary]

Watching Kudlow. Basically, if what Congressman Sherman is saying is correct, then this whole bill is a subterfuge to pay back foreign banks and governments who invested in these securities. This must be what they mean when all these people say "it's complicated". This is why they are rushing the bill now through the Senate possibly piggy backing it on a tax bill.

Sherman has said "how can there be a crisis if they are threatening a veto"? He is saying that Paulson refuses to entertain anything that would prevent the "fat cat" salaries on Wall Street and would prevent foreign banks from being able to sell their securities. Sherman said that they refused to put a provision with a date in the bill which would make sure that only US instruments are bought. He said under that scenario, a foreign bank can transfer ALL of their toxic assets to the american bank branch and sell them to the US.

Sherman has also suggested that this be taken out of the Senate and have a separate corporation deal with this and he says that Paulson does not want to do this and he is actually already setting up thirty people in the treasury to, I guess price the securities. One thing that concerned Sherman was the fact that now over 400 economists have contacted our representatives and told them to take their time and not rush anything through. So then why is Paulson in such a rush?

Wow, the arrogance is concerning. The rhetoric is ridiculous. How many representatives and talking heads have I heard say today that they are getting letters saying to "vote it in". And, whether you call it a "bailout" or a "rescue bill" to quote Senator Obama "you can put lipstick on a pig and it's still a pig."

[Buzzy]

Just say NO, you can't spend your way out of bone crushing debt and lets just let this one ride itself out for a change.