Obama Says No to Paulson Bailout

[Nbadan]

Looks like Obama isn't ready to follow Treasury Sec. Paulson off the cliff..


Obama has stepped up and stated what he needs a bailout plan to include in order to support it, and the Paulson plan simply can't meet his requirements. Obama has just announced his opposition to the basic principles of the Paulson Plan.

No Blank Check: Paulson doesn't get money without oversight or legal responsibility.

Must Be Regulatory Changes: The practices that caused the crisis have to be ended at the same time.

Taxpayers Need More than Consideration: If a huge bailout is to occur, it has to be done in the way that costs taxpayers the least possible.

No Bailout For Foreign Banks From US Money: Instead, all countries should work together to help everyone.

Ordinary People Get Help Too: It can't just be a bailout for Hank's friends, it has to help ordinary Americans too.

BarackObama (http://my.barackobama.com/page/community/post/amandascott/gGg9zj)

Obama leads while McSame wrings his hands...

[cool hand]

Good!

[Shastafarian]

Took him long enough. I like that he waited until they had already decided to tell us his opinion.

- republicans

[Nbadan]

Looks like we finally have some bipartisanship...


... One senior Congressional Democrat told me, "They have a gun to our heads." Paulson behaved as if he held all the cards, but in fact the Democrats have a lot of cards, too. The question is whether they have the nerve to challenge major flaws in Paulson's plan as a condition of enacting it.

Paulson also faces serious defections in Republican ranks, with several key senators and congressmen resisting a bailout of this scale. Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee, speaking on CBS's Face the Nation, flatly blamed the crisis on greed and deregulation, and questioned the terms of Paulson's plan.

Paulson's bill would give him carte blanche to spend up to $700 billion over the next 24 months to buy toxic securities from financial firms. This presumably would "unclog" capital markets, the financial economy would begin functioning normally again, and then the government would recoup what it could.

The plan is outrageous on several levels. It demands nothing from these firms in return. It holds the Treasury Secretary accountable to no one. And it extends the most generous terms to Wall Street while offering nothing to Main Street ...

Huffington Post (http://www.huffingtonpost.com/robert-kuttner/calling-paulsons-bluff_b_128075.html)

[boutons_]

"Took him long enough"

the Paulson plan was apparently leaked, only in the last day or so. 1,2 days HUSSEIN response time on such huge issue is not excessive.

[Nbadan]

http://www.caglecartoons.com/images/preview/%7B0ec4e1ab-5f59-40e3-b06d-457a3f28c9c7%7D.gif

[Aggie Hoopsfan]

"Took him long enough"

the Paulson plan was apparently leaked, only in the last day or so. 1,2 days HUSSEIN response time on such huge issue is not excessive.

Yeah, I'm sure Obama had to wait until it was leaked to get his hands on it :rolleyes

[SnakeBoy]

Finally, Obama's opinion was given to him. It must have been rough on him to spend so much time staring at a blank teleprompter waiting for his opinion to show up.

[cool hand]

Yeah, I'm sure Obama had to wait until it was leaked to get his hands on it :rolleyes

this government has outlived its usefulness, think about it.

[ducks]

did he have to wait to see what his bosses wanted him to say

[Shastafarian]

did he have to wait to see what his bosses wanted him to say

Who are his bosses? The little green men? The Illuminati? Skull and Bones? Free Masons? Bush? Pelosi? Ted Kennedy? You?!?!?!?

[ducks]

"Took him long enough"

the Paulson plan was apparently leaked, only in the last day or so. 1,2 days HUSSEIN response time on such huge issue is not excessive.

he is a senator he should have had it before it leaked

oh wait
he is to busy doing other things
please make sure your pants are zipped up

[ducks]

Who are his bosses? The little green men? The Illuminati? Skull and Bones? Free Masons? Bush? Pelosi? Ted Kennedy? You?!?!?!?

his fellow donkeys
he can not think for himself
the reason he is running is because they can push him around

[Shastafarian]

he is a senator he should have had it before it leaked

oh wait
he is to busy doing other things
please make sure your pants are zipped up

So ducks is implying that Obama was too busy having sex to come up with a plan on the faltering economy. That's a new one. But then again it is ducks so I gotta give him props for at least making this post coherent.

[ploto]

Since when is it a bad thing to study a proposal, examine its contents carefully, and formulate an informed response to it?