McCain, A distraction, in the way and slowing the process

Discussion in 'Politics, Religion, Social Issues' started by freeny, Sep 25, 2008.

  1. freeny macrumors 68020

    freeny

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    #1
    Just as some of us expected, Looks like this is all a Republican ploy to save McCains ass...

    http://cnnwire.blogs.cnn.com/2008/09/25/mccain-is-slowing-down-process-house-dem-says/

    http://cnnwire.blogs.cnn.com/2008/09/25/contentious-meeting-settles-nothing-on-bailout/

    http://cnnwire.blogs.cnn.com/2008/09/25/senator-calls-economic-meeting-a-distraction/

    Here are the quotes-

    McCain is slowing down process, House Dem says
    Posted: 08:39 PM ET

    WASHINGTON (CNN) — Democratic Rep. Barney Frank Thursday called Sen. John McCain’s attendance at the White House emergency economic meeting a “political ploy” and said McCain is slowing down the process.

    Frank, D-Massachusetts, who heads the House Financial Services Committee, told reporters that all parties involved were close to a deal until the White House meeting with President Bush that was attended by GOP presidential candidate McCain and his Democratic rival, Sen. Barack Obama.

    Frank and other Democrats were miffed that a new plan emerged backed by some Republican members of the House of Representatives. The new plan differed from the plan that had been negotiated for a week and that not many had seen before, Frank said.

    ---------

    ‘Contentious’ meeting settles nothing on bailout
    Posted: 08:34 PM ET

    WASHINGTON (CNN) — Thursday’s meeting of players in the bailout proposal negotiations was “contentious,” sources told CNN, and the fate of the deal was up in the air at its conclusion.

    Democratic sources said that Rep. John Boehner, R-Ohio, threw a wrench into the meeting when he brought up issues from conservative Republicans that negotiators thought had been settled.

    But a House leadership aide said that there had been no bipartisan negotiations with House Republicans, saying that Rep. Spencer Bachus, who had been meeting with Sen. Chris Dodd and Rep. Barney Frank, heads of the Senate and House banking committees, had no authority to speak for them.

    --------

    Senator calls economic meeting a distraction
    Posted: 06:05 PM ET

    WASHINGTON (CNN) – Sen. Christopher Dodd characterized the emergency economic meeting at the White House as “contentious,” a “distraction” and “political theater.”

    Dodd, the Senate Banking Committee Chairman, said the meeting was thrown off course when the group was blindsided by a new “core agreement” that emerged in the meeting that not many had seen before.

    Dodd, D-Connecticut, said the new agreement was a proposal that was reportedly supported by Sen. John McCain, the GOP presidential contender.

    “This is serious business. We are trying to find a rescue plan for the economy,” Dodd told CNN. “What this looked like was rescue plan for for John McCain.”


    -------

    So it sounds as if they had pretty much agreed on the bailout until McCain showed up....
     
  2. Cleverboy macrumors 65816

    Cleverboy

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    McCain move upsets Wall St bailout talks: Dems
    http://www.reuters.com/article/vcCa...080926?pageNumber=2&virtualBrandChannel=10112
    Complete idiot. McCain just SCREWED us.

    You can't put lipstick on this pig.

    Hello market collapse. Hold on tight. This is going to hurt.
    Anyone want to see what happens on the stock market tomorrow?

    ~ CB
     
  3. freeny thread starter macrumors 68020

    freeny

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  4. TheAnswer macrumors 68030

    TheAnswer

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    From the sounds of it, he's willing to risk a meltdown on Wall Street for some gains on swing-state Main Streets.

    Another irrational last-minute Hail Mary.
     
  5. freeny thread starter macrumors 68020

    freeny

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    My guess is that the Republicans already had an alternative plan but held back until McCain showed up. That way it would look as if he played a part in drafting it.

    I mean, they apparently didn't even mention one existed until McCain showed up.
    I guess passing the plan isnt as urgent as they made it out to be...

    Attention Republican voters!!! You are being played like a pan flute!!! And McCain is Zamfir!!!
     
  6. stevegmu macrumors regular

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    Shocker, the far left is saying J. McCain ruined everything...
     
  7. NT1440 macrumors G4

    NT1440

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    #7
    shocker, someone on these forums who is anti obama has no clue what the far left is.....


    Our "left" politicians are a joke compared to the rest of the world. they are centered to slightly left if anything. But im sure you were just looking for a talking point or keyword right?
     
  8. Don't panic macrumors 603

    Don't panic

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    "the far left" :D:D:D:D
     
  9. stevegmu macrumors regular

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    #9
    What is left in the rest of the world doesn't concern me. This thread does concern American politics, correct?
    H. Reid is as far left as an American politician can get.
     
  10. TheAnswer macrumors 68030

    TheAnswer

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    #10
    You're off your talking points. Remember, until November 4th, Obama is the "most liberal politician in American history". :rolleyes:
     
  11. NT1440 macrumors G4

    NT1440

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    #11
    somehow this doesnt suprise me.

    I dont understand how anyone could think "american" politics dont involve the rest of the world.
     
  12. Cleverboy macrumors 65816

    Cleverboy

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    #12
    That's why we get into the problems that we do. Insular minded people who imagine that no one else is affected by American politics. Hang on... isn't the Presidential debate about foreign affairs? Are world markets watching closely what's happening on Capitol Hill right now? Oy. Nevermind.

    ~ CB
     
  13. stevegmu macrumors regular

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    #13
    I don't know what talking points you are referring to. Unlike some, I make up my own mind.
    As this thread is concerned, they don't.
     
  14. NT1440 macrumors G4

    NT1440

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    #14
    its canceled according to the republican, what you didnt hear?;)
     
  15. rdowns macrumors Penryn

    rdowns

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    As much as I dislike McCain, I'm not so sure derailing this bailout was such a bad thing. It was happening way too fast and even Paulson and Bernanke said they don't know if it will work. Something needs to be done but I'd rather see some experts involved in drafting a plan. The whole thing is just way too knee-jerk for my liking.

    Washington Mutual failed today and Chase has already bought them. Aside of some branch closings, this will be business as usual for depositors. Seems to me the system in place worked.

    Do we need some huge, crazy government plan or do we deal with these issues one by one as they happen?
     
  16. iShater macrumors 604

    iShater

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    #16
    When a bi-partisan deal to pay for saving wall street's behind is torpedoed by a candidate looking to score points, I don't care if he is left or right, it is a ploy.

    Just let firms that totally failed FAIL, sounds like there are healthy ones (like Chase? Wells Fargo?) who do not have the same crazy investments and can come in and steal more of everybody's money.
     
  17. NT1440 macrumors G4

    NT1440

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    #17
    um, excuse me if im wrong, but wasnt mccain hoping to get this matter settled quickly?

    its only a coincidence he got in the way, it wasnt his intention. hes putting country first remember?:rolleyes:
     
  18. Don't panic macrumors 603

    Don't panic

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    don't tell it to Sam Webb...
     
  19. Ugg macrumors 68000

    Ugg

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    stevie, it doesn't surprise me that you've resurfaced at such a time. Are you bored playing whatever games it is that you play?

    At any rate, anyone who ignores the rest of the world at a time like this does so at his own peril.

    The world markets are the ones that are bailing us out, not your play mates.
     
  20. CalBoy macrumors 604

    CalBoy

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    #20
    Totally agree.

    The whole thing was rushed way too fast, and it seemed like the markets suddenly became dependent on a bailout even though most banks were being bought out without much government aid (primarily by Bank of America and JP Morgan, but still).

    I do think that McCain went to DC in the hopes of looking like he was "above politics," but I think he's opened up a can of worms for himself. If the bailout stalls further (which frankly I would prefer, because there's no need for a rushed vote on such a large sum of money we don't even have) he might be viewed as the one who caused negotiations to come to a stand still, and the entire Republican Party might pay for it come November (again, I wouldn't necessarily mind that).
     
  21. stevegmu macrumors regular

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    They are going to hash something out over the weekend, else trading will have to be stopped Monday.
     
  22. NT1440 macrumors G4

    NT1440

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    #22


    :confused:

    can I ask why?
     
  23. stevegmu macrumors regular

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    #23
    The Dow will drop over 1000 pts. at the opening bell.
     
  24. Cleverboy macrumors 65816

    Cleverboy

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    #24
    I think its a mistake to think the government is not "aiding" or "facilitating" these buy-outs. Details regarding the "form" and meaning of "aid" continues to be at the center of all of these discussions whether we're talking special interest rates, insurance, cash-infusion or what have you.

    They worked hard on a bunch of these belly-up buy-outs. The problem is, that confidence is drying up and assets are becoming illiquid. Confidence is a huge issue, and setting up a buyer of last resort is a move that helps grease a system that's seizing up. Once the system seizes... you're not going to have the option of pressing the "unseize" button... you're in the middle of a heart-attack, and you're immediately incurring permanent long-lasting damage.
    McCain screwed us. Tune-in next time, when America cocks its head to one side and asks, "What's Defconomy 2?"

    ~ CB
     
  25. NT1440 macrumors G4

    NT1440

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    #25
    link?

    Proof?

    anything?
     

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