bailout, credit card offers, and wachovia’s failure

September 29, 2008

So . . . I got 2 credit offers in the mail including checks I could depost for 9 months 0% interest and 4.9% interest for the life of the line of credit up to $30,000 today. Just another day at the mailbox except that the entire financial world seems on the verge of collapse today. Don’t break into my house — they are shredded.

I was reminded that I predicted this last week although I also predicted it would pass — I just go back on forth — easier to be right that way!! So, it failed. This may be unpopular on this blog since we lean left (a little), and I don’t want to say I blame Madame Speaker Pelosi, but her remarks were imprudent. No one liked everything about it and the speech could have been given after the vote. You don’t rub people’s nose in it if you think it is really necessary. You praise the bipartisan effort and tell them that voting yes is helping people and they should be proud to be part of it.

Yes, I also think Mccain shares some blame for going up there and stirring up the House Republicans but they might have been against it anyway. Also to blame: House members who thought they should vote for it and did not because of Pelosi’s speech (that’s just cutting off your nose to spite your face or throwing the economy under the bus because of pride). BUT, it had support of less than 1/3 of most Americans. Even though we might think it is necessary, the majority of Americans are opposed. Is it surprising the 5 weeks before an election that politicians are trying to score points?

I predict “progress” without resolution tomorrow and a bill in the next week or so. It will have some changes so those who voted against it can say there were changes that drove their reversal (I don’t flip-flop!!), but it will remain basically the same.

The problem is that it will still pass by a narrow margin and that means everyone is not invested in making it work. We need everyone invested in making it work. (invested?!?!?! Get it?!?!?!?!)

Oh, and why Wachovia failed. Maybe the shouldn’t do this with their money:


How Big is the Bailout?

September 29, 2008

It must be the teacher in me.  Although the new version of the bailout is to be phased in increments, let’s use the $700 billion figure for purposes of this exercise.  What percentage is that of US GDP?  What percentage is that of previously budgeted federal goverment outlays for 2008?

In the past I have rewarded the right guess with a pint at a local pub.  This time I think I will offer the price of a share of AIG stock at close of business Monday, September 30.  Actually, the pint may be worth more.

Palin says YES to cross-border incursions into Pakistan

September 29, 2008

A couple weeks back I posted about what you could do when 2 wars were not enough — invade your ally! Yes, we are running across the Afghan/Pakistan border when necessary (when we want?) to “take out” Al Qaeda operatives if we have “good intelligence” that they are nearby. Marines mostly are sent to do this.

Anyway, I think it is a pretty bad idea because we don’t have many friends in the middle east and Pakistan is not liking this so much. (I wonder how we would feel if some country were doing this to us?) Anyway, McCain chastized Barack Obama for saying he also agrees with this policy not because it is WRONG but because you should not say it “out loud.” Right — you should keep it a secret, deny, deny, deny (like we did about Cambodia and Laos) to protect the troops carrying out these illegal missions. But Palin, when pressed by a 20 something guy in a t-shirt (our best political reporter on Palin to date!!!! Give that man a job!!) also indicates she is in favor of it.

Nice – watch it here. Warning: she is increasingly adorable!

Bob says this is not as important because “it is a casual comment”. I agree but since she does not do many serious interviews, this is what we have to go on.

buyer’s remorse

September 28, 2008

Not really remorse . . . but just icky feelings about the bailout. So first off, here is the document itself (PDF). I skimmed it and it reads a lot like every other bill I have ever read but the number $50,000,000,000 is very stunning to see in print. Especially when it is authorization to spend it and you know that we don’t have it.

AND, for years and years you have been thinking how cool it would be to have health insurance for everyone but it is always “too expensive.” It’s kind of like when you have saved up $2,000 for something really cool like a trip or new furniture and all of a sudden your car needs $5,000 worth of repairs. Or like it must feel when your kid crashes the family car (sorry mom) and you have to take a loan out for a new one and car payments are not in your budget.

AND, it makes me think how, for the first time in 8 years, there is a chance that your party might possibly win the presidency and there will be no money to do anything that we want to accomplish like more money for education, alternative energy, health care, etc.

Gotta do it I guess but still — how long are we going to be paying for this? Ick.

Tina Fey as Sarah Palin on SNL

September 28, 2008

Last night’s SNL was great!  First, the Couric/Palin interview spoof, then the debate skit where McCain, the maverick, has some outrageous ideas for the time his campaign is suspended.  It was so funny.  Be sure to click on the Bill Clinton interview too.  They even got the right tie colors, & “Sarah” has on the same hot pink top she wore recently.


September 28, 2008

just. . . wow.


Cafferty Unloads on Palin

September 26, 2008

I have to start watching more TV.  My theory is that none of the new open contempt of Gov. Palin would have been possible without Tina Fey pointing out that the empress is naked.