John McCain

Panic, Damn You!

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John McCain joins President Bush and Secretary of Goldman Sachs Henry Paulson in the "pass-this-bill-or-prepare-to-eat-garbage" coalition:

If the financial rescue bill fails in Congress yet again, the present crisis will turn into a disaster. As credit disappears, students will no longer be able to get loans for college, and families looking for a new home will be unable to get a loan. New car sales will come to a halt. Businesses will have difficulty securing credit for operations and may be unable to pay employees. If we fail to act, the gears of our economy will grind to a halt.

At this point I'm amazed that he (or his many alarmist cohorts) left out the part about being forced to sell ourselves into white slavery to the Red Chinese….

Remember back when people jumped all up in Alan Greenspan's grill just for him uttering the phrase "irrational exuberance"? We now have the president, his Cabinet, and his would-be successor predicting imminent economic collapse if we don't immediately pass a trillion-dollar bailout rescue that will force taxpayers to overpay for currently illiquid mortgage-based debt instruments. And oh yeah, there might be a financial "panic." Ya think?

Has there ever been a two-week period when America's putative leaders expressed less faith in the country they claim to run?

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  1. Self-fulfilling prophecy wildcard, bitches!

    (Many thanks to Dagny T.)

  2. If the vote again fails, how many more times will they get to keep adding pork & trying again?

  3. Matt,

    Can’t you send Dave out into the streets of Dupont to find at least one panhandler who is a victim of the current economic collapse?

    New car sales will come to a halt.

    I feel sad for people into brand-new cars, on many levels, but this is not one of those levels.

    Maybe you can find some homeless to say they were turned down for a new car loan!

    Come on man! You are the new editor, get creative! 🙂

  4. Self-fulfilling prophecy wildcard, bitches!

    You do know what she was quoting, I hope. If not, I will personally beat the shit out of you and take your geek card that way. You’re only located about an hour away.

  5. Won’t difficulty in getting loans mean that housing prices will fall even further? Hot diggity dog! Looks like Lamar wins either way.

  6. Won’t difficulty in getting loans mean that housing prices will fall even further?

    Yes, theoretically, in any sane theory anyway.

    As long as the DC area perdiem for housing keeps going up I will be in the winners circle with you when I start renting my place out in a couple of years.

  7. If the crisis turns into a disaster and we still don’t do anything, it will then become a catastrophe. If after that we still don’t act it will become Plan 9 from Outer Space.

    I for one welcome our new chrome-jumpsuited overlords.

  8. Epi —

    It’s Always Sunny in Philadelphia.

    (It’s on my list. No, you can’t take my card away. I’ll Rochambeau you for it…)

  9. FB,

    You almost made me swallow my Skoal!

  10. I’m more worried about not being able to get student loans from my low interest government-backed lender if $700 billion is being spent on junk assets than if Congress does nothing.

    On a related note, I walked by an AIG office today and the stench of sewage was thick in the air. Is this a common side effect of government control?

  11. So I was watching a little cable “news” last night. Just wondering, does MSNBC stand for “Must Sell New Bailout Crisis?”

  12. As credit disappears, students will no longer be able to get loans for college, and families looking for a new home will be unable to get a loan. New car sales will come to a halt. Businesses will have difficulty securing credit for operations and may be unable to pay employees. If we fail to act, the gears of our economy will grind to a halt.

    Why don’t they all just threaten to impale themselves on the Washington Monument (or at least hold their collective breath until they turn blue) if it doesn’t pass?

    *sighs, bangs head on desk*

  13. (It’s on my list. No, you can’t take my card away. I’ll Rochambeau you for it…)

    Hmm…you do outweigh me by 40 pounds. But I am taller.

  14. Wolf!

    Wolf! Wolf! Wolf!

    WOOOOOOOOOOOOOOOOOOOOOOOOOLLFF!!!

    Wolf… unable to get new car loan!

  15. PB,

    IIRC, the Washington Monument is not made of wood, so it will not kill them anyway.

  16. “white slavery to the red chinese…” ?

    Yes that and also white slavery to the so called “African Americans”. Many reasons behind this morgage fiasco….not least of them being REPERATIONS. The unmentioned gorilla in the room is the blacks get-evenism involved. They stole from America, but it’s not REALLY stealing. It’s just payback for slavery you see. This is America’s future by the way.

  17. Tuk,

    You are just being silly. Reperations were made in 1862. Look up “Emancipation Day DC” for more info.

  18. Hmm…you do outweigh me by 40 pounds. But I am taller.

    Are you guys trading stats now? Feeling left out of the Fantasy Football craziness, perhaps. Can we have a geek draft?

    (Many thanks to Dagny T.)

    I’ll accept any accolades I’ve got coming, but Epi gets a finder’s fee for all Always Sunny-related references. Not that his ego needs inflating, but credit where due, etc. 🙂

  19. Are you guys trading stats now?

    He stated the other day that he was 220, 5’11”. After threatening to beat the shit out of him, I reflected on the weight difference.

    Not that his ego needs inflating

    There are certain things which just can’t be too big.

  20. As credit disappears, students will no longer be able to get loans for college, and families looking for a new home will be unable to get a loan. New car sales will come to a halt. Businesses will have difficulty securing credit for operations and may be unable to pay employees. If we fail to act, the gears of our economy will grind to a halt.

    Doesn’t “difficultly” really mean paying higher interest rates? That’s it? $2,300 per living person in the US just a save a few bucks a car loan?

    Jeebus, I wish they would grow a backbone and quit trying to solve all our problem.

  21. After threatening to beat the shit out of him, I reflected on the weight difference.

    Plus, if your pretty face gets damanged, that hurts your business. Rich old ladies are choosy, you know.

    There are certain things which just can’t be too big.

    That calls for a ‘dirty.’

  22. After threatening to beat the shit out of him, I reflected on the weight difference.

    Don’t forget the comments upon “density”. 😉

    Are you guys trading stats now?

    You’d be amazed the details that get bandied about when a guy is trying to win an argument/make a point/talk about the crazy-ass shit that keeps coming up around here.

  23. I’ve got student loans on the books. If the federal government would bail me out of those, I’d have an extra $1,000 per month to spend on stimulating the economy. It’s a relative bargain.

  24. Plus, if your pretty face gets damanged, that hurts your business.

    Yes, true. But scars can be good, depending on where they are.

    You’d be amazed the details that get bandied about when a guy is trying to win an argument/make a point/talk about the crazy-ass shit that keeps coming up around here.

    Very true. Plus, it just adds flavor, which is always good.

  25. So I was watching a little cable “news” last night. Just wondering, does MSNBC stand for “Must Sell New Bailout Crisis?”

    And people wonder why I don’t have cable.

  26. If the vote again fails, how many more times will they get to keep adding pork & trying again

    As many times as it takes, dammit. You’ll vote, and you’ll keep voting until you get it right.

  27. “As many times as it takes, dammit. You’ll vote, and you’ll keep voting until you get it right.”

    Just like with local and school taxes.

  28. Exactly.

    It’s democracy in action, you see.

  29. You’d think that if the problem was a lack of confidence by investors and banks in the inherent stability of the financial system, that the last thing your government would want to do is throw gasoline on the fire by getting in front of the press and saying, “ZOMG! PASS TEH BAILOUT NOW OR WE’RE ALL GONNA BE HUNTING RATS FOR FOOD!!!”

    Something about this smells to high heaven and lowest hell…

  30. CFisher,

    And of course there is no way of knowing what the real value of these “bad” assets are UNLESS the holders of said assets believe there will be no gov’t bailout–as long as they think there will be a bailout, it’s unknowable, or, the value becomes pegged to whatever the bailout amount is. (do I understand that correctly?)

  31. So if Bush is the looks, Paulson is the brains, and McCain is the wildcard, does that make Pelosi the useless chick? Or is she the muscle, and Bush the useless chick?

  32. Now you’re just talking like Foghorn-Leghorn!

  33. Have you ever considered that since they’re running the country and they know they don’t know what the hell they’re talking about or what to do, that they’re really scared?

  34. A chicken? I’m not a chicken – THAT’S a chicken.

    (Pay attention when I’m talkin’ to you, son. I keep ‘a pitchin’ but you’re not catchin’.)

  35. OT: Question to you owners of several real properties.

    Has anybody had experience with Caretaker Agreements or similar? I am planning to lend my condo to a couple for a year or more and want it documented.

    They also need paper so their child can go to the local school too (yes, I know gun schools should not exist, but they are fine with that arrangement).

    If someone could post a good link I would appreciate it. Have looked online and found various versions, but not sure about particulars for the Commonwealth of VA.

    Thanks in advance!

  36. I’ll start worrying when I get stuck in an elevator with Patricia Neal.

  37. does MSNBC stand for “Must Sell New Bailout Crisis?”

    No, it’s Must Sign Notable Bitchy Cunts.

  38. Has anybody had experience with Caretaker Agreements or similar? I am planning to lend my condo to a couple for a year or more and want it documented.

    There’s no substitute for a hefty cash deposit, Guy.

  39. We’ve been through this routine with the PATRIOT ACT. “Panic! Panic! Sign here. No time to read it.” Yeah right. Fool us once …

  40. RCD,

    The Leftoids have poisoned your brain, maybe.

    A heavy element of this is charity to people who don’t have much money, but I find them trustworthy. Amazingly, this is happening without a government program, but I suspect there are some government hoops to be negotiated.

    Just needing to know what should be in an agreement like this so their kid can go to the local school and that if accidents on their part happen my liability is limited.

  41. Our beloved and esteemed president, animated:

    http://scottbateman.livejournal.com/938495.html

  42. Just needing to know what should be in an agreement like this so their kid can go to the local school and that if accidents on their part happen my liability is limited.

    As long as that’s their residence, the school thing should take care of itself.

    If they are judgment-proof, there’s probably no good way to limit your liability any further via contract with them. Your liability for their actions is probably pretty limited anyway, and you can’t really limit a third party’s right to recover via a contract they are not a party to. Your only real protection is to have your caretakers agree to indemnify you, but that’s meaningless unless they have money.

  43. RCD,

    Then a simple document will work, since they will not be having any/many bills in their name. Well, maybe cable, but most other utilities are in the condo fee.

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