The Bailout Bill failed today, the Dow fell a record 777.68 points – losing $1,200,000,000,000 ($1/second for nearly 40,000 years) in value, the whole thing has turned into a political hot potato and credit effectively ceased to exist.
Is this good? Is this bad?
What else is on your minds?
For the first time since FDR, The Record casts its endorsement for a Democrat, Barack Obama. The Record is a newspaper covering Calaveras and Lockeford/Clements County (home of my birthplace – Stockton, CA).
The unanimous decision was made by our editorial board, which consists of Publisher Roger W. Coover, Managing Editor Donald W. Blount, Opinion Page Editor Eric Grunder, Human Resources Director Sandi Johnson and me (Mike Klocke – Editor).
Hi folks,
Jim Lehrer is now going on, this is a thread for the debate itself. If anyone wants to edit this diary as we go, feel free.
Happy Friday, Folks!
It is less than nine hours to the first Presidential Debate as I write this, an event that will (or won’t) be watched by what has been forecast to be 100M people and will (or won’t) be the first chance for Americans and the world to hear how the two (or one) Presidential candidates handle direct questions together (or alone). 3,000 journalists are gathered in Mississippi wondering what they will reporting on.
The “Bailout” deal is (or isn’t) coming together, House Republicans are (or are not) planning their own Palace Coup and banks are (are) still going under.
Prepare to speak liberally.
A late-night emergency session of the committee trying to negotiate a solution to the liquidity problem plaguing the economy came to a crashing halt tonight. With John McCain back in DC, the House Republican caucus has rebeled against the President and McCain. At this meeting tonight, the House Republicans sent a representative unauthorized to negotiate to the meeting (Spencer Bacchus) with a one-sheet whitepaper of “principles and general ideals” that included a Capital Gains tax-cut, increased banking deregulations and mortgage insurance that Henry Paulson has already stated to be a non-starter.
The meeting has fallen completely apart, there is another tomorrow at 11:30am ET which will not include House Republicans, and will therefore have no impact whatsoever.
CNN and MSNBC provided breaking coverage of the detonation of the talks, FOX is rerunning footage of McCain and Bill Clinton together at the Clinton Foundation.
WASHINGTON (AP) – Sarah Palin requested and received an extension of the deadline for revealing her personal finances, until the day after her debate with Democrat Joe Biden.
I attended a foreign policy discussion this morning led by Richard Clarke (Former Counter-Terrorism Advisor to the National Security Council and Foreign Policy Advisor to Senator Obama) and retired Major General Gration at the Harry Sudakoff Conference Center, New College of Florida.
The message from the speakers was clear: Senator McCain has been making dangerous decisions for our country for the past eight years and cannot be allowed to take us down the road the current administration has set us on.
Could someone buy Senator McCain some cue cards? Something with big, bold text on them that can be read from a mile away. And somebody to hold them for him would be a good idea, too.
Seems that he told the world that Rick Davis has not had any dealings with Freddie Mac for a long time.
NYT, September 23, 2008 One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCain’s campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement.
Ruh roh….
NEWSMAX – the home of Far Right Support – continues to release dim news for John McCain.
McCain’s Numbers
133 votes for McCain
+ 50 leaning McCain
=====
183 McCain
Obama’s Numbers
183 votes for Obama
+ 108 leaning Obama
=====
291 Obama
Well, John McCain can’t really make friends anywhere these days.
Today, NEWSMAX (yes, you heard me right) reported that Rush Limbaugh ripped Senator McCain a new one.
Rush Limbaugh wishes John McCain’s economic proposals would stop bashing Wall Street, thinks the Arizona senator is running against the wrong people, and deplores his demand that SEC Chairman Chris Cox be fired — and he wants everybody to know it.
