Citigroup In Partial Takeover of Wachovia, FDIC to Share in Loan Losses, Dow Futures Down 162
September 29th, 2008 Posted in Mitt Romney
Breaking news on CNBC’s Squawkbox this AM, Citigroup has taken over part of Wachovia’s operations and they and the FDIC will share in some of Wachovia’s loan losses.
The Dow futures are down 162 and the banking crisis has spread overseas, with a big British bank having been nationalized over the weekend……..Developing
~~John Cronin~~
September 29th, 2008 at 8:05 am
Thansk, John. Global flow of money slowing down… global recession possible.
Hang on, everybody!
September 29th, 2008 at 8:07 am
ACORN provision in bail-out bill officially out!
Hallejuah!
September 29th, 2008 at 8:30 am
Yeesss!!
ACORN has been identified for the poisonous influence that it is! Finally, some common sense. I hope this is the beginning of a trend.
September 29th, 2008 at 1:21 pm
The Bailout Bill has failed to pass in the House!!!
I believe this may strong consequences for McCain who personally and publically pushed to get something accomplished. He could not even get 50% of the conservatives on board.
As the Dow plummets, it has become very clear that NOW is the time for an outside party to be introduced. SOMEONE in leadership has to push for this to happen.
Mitt Romney has to be allowed to put a team together and come up with an alternative that protects the free markets, not aburden to taxpayers, and can be accepted by both sides.
September 29th, 2008 at 1:56 pm
SED, I like your ideas!
After this morning, congressional approval rating should be in the minus column due to: Pelosi’s verbal zingers, flapping partisan yaps, political pokes in the eyes, and “food fight” mentality. Oh, and throw in the scowls, cold-shoulders, dirty looks, back-stabbing, and rolling eyes. What next? Sticking out tongues and spit balls?
CLEARLY, Washington has been broken for a LONG time. This careening, smoke-belching, engine -revving, tire-squealing, back-firing congress needs a swift tow to the scrap yard.
We need a whole new vehicle with an OUTSIDER behind the wheel.
September 29th, 2008 at 2:14 pm
What is a possible roll for Romney in all of this? Some have said that they don’t want Romney any where near all of this mess. If there ever was a man who could “fix” this banking crisis, Romney sure does appear to have the perfect resume. A man called in to a local radio station and said “I would give Romney a check for $700 billion dollars and have him do a hostile takeover.” IN MY DREAMS!!!!!!!!!!!
September 29th, 2008 at 2:18 pm
VP Whee! CHAT on Thursday October 2 at 8:00 PM ET.
What Mitt said about Palin on Morning Joe today:
http://blog.newsweek.com/blogs/stumper/archive/2008/09/29/free-sarah.aspx
Today on MSNBC’s “Morning Joe,” former Massachusetts governor and Republican presidential candidate Mitt Romney–usually a robotically on-message surrogate for McCain–veered off the talking points to second-guess the nominee’s decision to keep Palin under lock and key. “Holding Sarah Palin to just three interviews and microscopically focusing on each interview I think has been a mistake,” Romney said. “I think they’d be a lot wiser to let Sarah Palin be Sarah Palin. Let her talk to the media, let her talk to people.”
Over at the New York Times, influential conservative columnist William Kristol agrees. “McCain needs to liberate his running mate from the former Bush aides brought in to handle her — aides who seem to have succeeded in importing to the Palin campaign the trademark defensive crouch of the Bush White House,” he writes this morning. “McCain picked Sarah Palin in part because she’s a talented politician and communicator. He needs to free her to use her political talents and to communicate in her own voice.” Kristol reports that McCain himself “recently expressed unhappiness with his staff’s handling of Palin” and, as a result, has “dispatched his top aides Steve Schmidt and Rick Davis” to “liberate” her.
The Kristol storyline–that the valorous McCain is now freeing poor Palin from the evil Bushies–is transparently self-serving spin. It was the campaign’s brain trust of Schmidt and Davis that made the strategic decision to shelter Palin from the press and the public; their underlings–including, yes, some former Bush staffers–were merely carrying out orders by keeping her sequestered. Bush may deserve the blame for a lot of things, but Palin isn’t one of them. That said, the mere fact that Kristol’s sources in the campaign are suddenly pointing fingers proves that Team McCain considers its “Plan to Protect Palin” a mistake. Here’s hoping, then, that the new, “liberated” nominee goes beyond casting herself as “a combative conservative” in Thursday’s vice-presidential debate”–Kristol’s prediction–and actually submits to the same sort of back-and-forth with the media and the masses that Barack Obama, Joe Biden and John McCain have had to endure. At this point, it’s as much in her interest as it is in ours.
September 29th, 2008 at 2:32 pm
Andrea Mitchell asks Romney if Sarah Palin is “embarrassing” on Morning Joe today:
“McCain Wishes He Would Have Picked Mitt Romney”
http://donklephant.com/2008/09/29/mccain-wishes-he-would-have-picked-mitt-romney/
September 29th, 2008 at 2:44 pm
McCain takes credit for bill before it loses
By Mike Allen | 9/29/08 @ 3:37 PM EST
Sen. John McCain (R-Ariz.) and his top aides took credit for building a winning bailout coalition – hours before the vote failed and stocks tanked.
The rush to claim he had engineered a victory now looks like a strategic blunder that will prolong the McCain’s campaign’s difficulty in finding a winning message on the economy.
Shortly before the vote, McCain had bragged about his involvement and mocked Sen. Barack Obama for staying on the sidelines.
“I’ve never been afraid of stepping in to solve problems for the American people, and I’m not going to stop now,” McCain told a rally in Columbus, Ohio. “Sen. Obama took a very different approach to the crisis our country faced. At first he didn’t want to get involved. Then he was monitoring the situation.”
McCain, grinning, flashed a sarcastic thumbs up.
“That’s not leadership. That’s watching from the sidelines,” he added to cheers and applause.
Wisely, in retrospect, McCain initially had been more modest. On Sunday, he said on ABC’s “This Week” that congressional negotiators deserve “great credit” for the bipartisan deal. “”It wasn’t because of me,” McCain said. “They did it themselves.”
But at almost the same time, McCain senior adviser Steve Schmidt was saying on NBC’s “Meet the Press”: “What Sen. McCain was able to do … was to help get all of the parties to the table. There had been announcements by Senate leaders saying that a deal had been reached earlier in the week. There were no votes for that deal.
“Sen. McCain knew time was short and he came back, he listened and he helped put together the framework of getting everybody to the table, which was necessary to produce a package to avoid a financial catastrophe for this country.”
On Monday morning, McCain campaign communications director Jill Hazelbaker said on Fox News that the deal would not have happened “without Sen. McCain.”
“Sen. McCain interrupted his campaign, suspended his campaign activity to come back to Washington to get Republicans around a table,” Hazelbaker said. “Without Sen. McCain, House Republicans would not have appointed a negotiator, which would not have moved this bill forward.
“It’s really Sen. McCain who got all parties around a table to hammer out a deal that hopefully is in the best interests of the American taxpayer.”
After the vote, commentators were harsh. MSNBC’s Chris Matthews said: “He’s like a cavalry commander who said ‘Charge!’ and the Republicans went into retreat.”
September 29th, 2008 at 5:03 pm
Tracey,
If, as he says, McCain ’saw this comming’, he is either an idiot for not chosing Romney, or thought it did not matter who he choose, that Romney would just toddle along after him.
How wrong he was, if the latter is true, and how stupid he is, is the former is.
September 29th, 2008 at 9:14 pm
At the risk of sounding very dumb, can someone tell me what ACORN is please? I sure would appreciate it.
September 29th, 2008 at 9:54 pm
A group of community organizers located in several cities throughout the country who promote democratic causes and register democrats to vote and they are being investigated for voter fraud. Obama was a community organizer for Acorn-or so my husband said-
September 29th, 2008 at 9:59 pm
Chris- I wish he would have gambled on Romney. Romney can’t help him now.
September 29th, 2008 at 10:04 pm
No, romney can’t help, Tracey. I think I have sensed that Romney has ‘backed off’ the McCAin straight talk express. It would be interesting to find out what he REALLY thinks of mccain’s judgement now.
But always a gentleman, he’ll stick by MCcain, as much as he can stomach.
September 29th, 2008 at 10:17 pm
I wonder what is causing Obama to go up in the polls?
September 29th, 2008 at 11:41 pm
Thanks Tracey. I figured it was along those lines. I’m curious was ACORN stands for? Anyone know? I’m just full of ?’s aren’t I? LOL
September 30th, 2008 at 4:09 am
Tami,
ACORN: Association of Community Organizations for Reform Now
From Michele Malkin SEPTEMBER 25, 2008
http://michellemalkin.com/2008/09/25/kill-the-bailout-more-acorn-funding/
Kill the bailout: More ACORN funding?!
ACORN has been organizing protests across the country while maneuvering for their next handout.
Meanwhile, the watchdog Consumer Rights League testified on the Hill this week about rampant ACORN fraud:
James Terry, Chief Public Advocate for the Consumers Rights League, today testified at a joint House Administration and House Judiciary Committee oversight hearing on “Federal, State and Local Efforts to Prepare for the General 2008 Election,” where he highlighted “corruption at every level of ACORN including embezzlement, cover-ups, misuse of taxpayer funds and voter fraud.” An excerpt of his testimony follows:
James Terry, Chief Public Advocate, Consumers Rights League:
“ACORN routinely says it will clean up its act. Yet, given its decade-long history of voter fraud, embezzlement, and misuses of taxpayer funds, ACORN’s pattern of fraud can no longer be dismissed as a series of ‘unfortunate events.’
“The problem of voter registration fraud raises serious questions for this committee, and the Consumers Rights League appreciates that the right questions are being asked.
“Here are the most important questions right now: We know about the thousands of potentially fraudulent voter registration cards turned in by ACORN and caught by officials. But given the size of ACORN’s efforts and the fact that the abuses appear to be systemic, we believe it is fair to question how many more fraudulent registrations have not been discovered, Furthermore, as this mega organization with a decades long history of violating the law is turned to get out the vote efforts, we believe it is fair to question how many fraudulent registrations may lead to fraudulent votes or what other activities they are willing to undertake to influence the election.
“These are serious questions, especially in light of recent election results which show that a just few votes can change the outcome of an election, the course of our country and the course of history.
“While we do not presume to tell this committee how to address this problem, we respectfully submit that our nation’s election system is facing a concerted campaign that raises serious issues that merit the committee’s oversight and attention.”
Inside Obama’s ACORN (May 29, 2008):
Inside Obama’s Acorn (by Stanley Kurtz National Review Online):
By their fruits ye shall know them.
http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=&w=MA==
What if Barack Obama’s most important radical connection has been hiding in plain sight all along? Obama has had an intimate and long-term association with the Association of Community Organizations for Reform Now (Acorn), the largest radical group in America. If I told you Obama had close ties with MoveOn.org or Code Pink, you’d know what I was talking about. Acorn is at least as radical as these better-known groups, arguably more so. Yet because Acorn works locally, in carefully selected urban areas, its national profile is lower. Acorn likes it that way. And so, I’d wager, does Barack Obama. (For more, see above link)
September 30th, 2008 at 10:49 am
WOW!! Thank you so much 2tp!! That’s incredible! I tell ya … he has way TOO MANY BAD FRIENDS for it all to be just a coincidence. He is bad news!