Finally, a coherent explanation of what happened to all our money. Thanks, Rachel! Via Feministing.
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Mo Rocca appears on a bunch of shows, including CBS News Sunday Morning (with the indescribably wonderful Charles Osgood), The Tonight Show on NBC, and NPR's Wait Wait... Don't Tell Me! He's a sometime judge on Iron Chef and was featured on Telemundo's Amore Descarado. Last year he starred on Broadway in the 25th Annual Putnam County Spelling Bee. His expose "All the President's Pets" was published by Crown in 2004.
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Reader Comments ( Page 2 of 3)
16. MADCOW HAS MADCOW DISEASE PUT HER DOWN. SHE HAS MADCOWS DISEASE. MADCOW HAS SPENT WAY TOO MUCH TIME AS OLBERMANS UNDERSTUDY. MADCOW NEEDS A WARDROBE STYLIST, HERS JACKETS LOOK CHEAP AND HANG ON HER CRUSTY FRAME LIKE A WOODEN HANGER. PLEASE FIND A CURE FOR MADCOW DISEASE...SHE IS FADING FAST.
eric at 1:41PM on Sep 27th 2008
17. Ms. Maddow forgets that Republican Senator Phil Gramm fired the adult babysitters by pushing through two laws: the Commodity Futures Modernization Act of 2000 (CFMA), now Public Law 106-554, §1(a(5), and the Gramm-Leach-Bliley Act.
BTW, Dr. Gramm, now a Swiss banker, was Senator McCain's campaign co-chair and economic advisor.
Mike Licht at 7:19PM on Sep 27th 2008
18. RACHEL I like your pantsuit lookin good lady lol ... I am new to this blogging thing and i liike it has good feed back
Darla at 7:13PM on Sep 27th 2008
19. Before you try your hand at Liberal Spin, get the facts!
xxx
the fact is that supply side economics are a failure. Another fact is that democrats don't give a damn about clinton. He was a blue dog and at least an enabler of more reaganomics.
Libertarianism is a utopian 'state will wither away' philosophy similar to marxism that never worked, never will and in fact cannot work.
Repeal of Glass seagall through the Gramm-Leach-Bliley act of 1999,which McCain voted for paved the way for the present collapse.
However, 'trickle down' economics depends on unlawful corporate merger to form gigantic trusts in restraint of trade, via price fixing and other collusive practices.
Enforce the Sherman and Clayton Acts and this will be no more. Companies 'too large to fail' will also be too large to be permitted to exist.
Supply siders had reset trading to the pre 1929 defaults, and not to anyone's great surprise, here comes yet another version of trading on margins - the subprime loan converted to marginalized equity yet again.
Supply side economics is a failed economic philosophy and the reason for the present crisis.
Only democrats are willing to dismantle the monopolies and restore fairness to capitalism. Vote for mcbush and it will just get worse since they don't intend to quit being reagan republicans until they're hoover republicans.
Clif Kuplen at 5:44PM on Sep 27th 2008
20. Christians and Atheists at war!
http://saintbrianthegodless.blogspot.com/
(well, not really)
Stop by and add your two cents worth...
The Power of Christ compels you!
Saint Brian the Godless at 6:13PM on Sep 27th 2008
21. Rachel Madcow,just more proof that MSNBC is way left and out there.How much more did we need?
Chris Matthews and Keith (all time world's worst person in the wooorld)were proof enough.
seacapfl at 9:23AM on Sep 28th 2008
22. I don't know why anybody cares what closet lesbian Maddog has to say.
How lucky for her to find a "News Network" that embraces MadCow disease.
Rogers at 9:32PM on Sep 27th 2008
23. I don't think it can be done with a straight face.
Dave at 8:59AM on Sep 27th 2008
xx
much like listening to a sarah palin interview...
Clif Kuplen at 11:16PM on Sep 27th 2008
24. Aw come on Rodger, you hate her because next to her,
you are an intellectual midget.
Probably a sexual midget as well.
Did she steal your wife?
BOB JOHNSON at 12:02AM on Sep 28th 2008
25. Oh my goodness, you know it amazes me how hateful people get when you talk about the state of this nation. And we sure dont want anyone making anything easy to understand. Simple minded people have no business in politics. Everyone screamed change and then when they have the oppurtunity for change they scream rude remarks.
Peggy Miller at 12:59AM on Sep 28th 2008
26. Hussein Obama had his little fingers in and was involved with Acorn, famous for it's widespread Democrat voter fraud schemes. Now, if not changed, the Democrats Bail Out Plans will pump millions upon millions into their little voter fraud outfit, Acorn.
Rescuing ACORN, by the Democrat Party
By INVESTOR'S BUSINESS DAILY Friday, September 26, 2008 4:20 PM PT
Election '08: Democrats want to use profits from the bailout as a slush fund for liberal activist groups, even those involved in vote fraud to help elect Barack Obama.
Prior financial bailouts, or "rescues," such as those involving savings and loan failures, and Chrysler, have over time actually made money for the government. It may be the case here as well, as assets bought by the government at bargain prices return to marketable values and are auctioned off.
One of the sticking points in resolving the crisis was a poison pill in the Dodd/Paulson compromise that would move 20% of profits from the bailout into the Housing Trust Fund, a slush fund for political action groups such as ACORN (the Association of Community Organizations for Reform Now) and the National Council of La Raza.
Sen. Lindsey Graham told Greta Van Susteren of Fox News that Democrats had other priorities than just solving this crisis: "And this deal that's on the table now is not a very good deal. Twenty percent of the money that should go to retire debt that will be created to solve this problem winds up in a housing organization called ACORN that is an absolute ill-run enterprise, and I can't believe we would take money away from debt retirement to put it in a housing program that doesn't work."
Groups such as ACORN and La Raza lobby to secure government-funded services for their members and seek to move them to the voting booth. The housing bill President Bush signed in July contained a similar funding mechanism for the HTF — a tax on mortgages backed by Fannie Mae and Freddie Mac.
The tax was designed to channel upwards of $600 million annually in grants for developing and restoring housing, mostly as low-income rentals, available to ACORN and other groups. ACORN gets 40% of its revenues from the American taxpayers and not all of it finds its way into housing.
A new whistle-blower report from the Consumer Rights League claims that ACORN routinely commingles funds from its housing arm into political projects such as voter registration and get-out-the-vote drives. Money is fungible. Any taxpayer money that ACORN gets for housing makes it easier for the group to put its other funds into voter drives.
"These are taxpayer funds, in an indirect method, being used to subsidize political activism," says Rep. Jeb Hensarling, a Texas Republican and chairman of the conservative House Republican Study Committee. "I'm sure they're not going out and registering any Republicans."
Obama cut his community organizer teeth with ACORN. As a young lawyer he represented the group in a suit against the state of Illinois, which was concerned that postcard registration and a new motor voter law might invite fraud. ACORN later invited Obama to train its staff in leadership seminars.
ACORN has a political arm that endorsed Barack Obama for president in February and has stepped up its registration efforts to help elect a future benefactor. The Obama campaign admits to failing to report $800,000 in campaign payments to ACORN. They were disguised as payments to a front group called "Citizen Services Inc." for "advance work."
Consumer Rights League official Jim Terry says: "ACORN has a long and sordid history of employing convoluted Enron-style accounting to illegally use taxpayer funds for their own political gain. Now it looks like ACORN is using the same type of convoluted accounting scheme for Obama's political gain."
A major part of ACORN's sordid history is vote fraud. ACORN has been implicated in voter fraud and bogus registration schemes in Missouri, Ohio and at least 12 other states. Last July, ACORN settled the largest case of voter fraud in Washington state history, involving nearly 2,000 bogus voter forms. In Ohio in 2004, ACORN submitted forms for the likes of Mary Poppins, Dick Tracy and someone named Jive Turkey.
ACORN uses taxpayer money to elect people like Barack Obama who will work to get them more taxpayer money. Democrats are willing to rip off taxpayers in a national crisis to make it happen.
Robert OKane at 6:52AM on Sep 28th 2008
27. Although I appreciate Maddow's explanation and discussion of the situation, her description of McCain's concession to regulate really just sounds like rhetoric to me. A laissez-faire economic policy is what this country was founded on, but even Hamilton would have conceded that we need to regulate this sector of the economy given what has been happening. McCain's anti-regulation stance is one that is rooted in the economic philosophy that this country was founded on and one that has worked for us in all but the most extreme circumstances (i.e. The Great Depression and The Credit Crisis of '08). That very philosophy is the reason why this country is known as a place where entrepreneurship is encouraged; it's why we rose to the top and have thus far remained there.
To accuse McCain of flip-flopping on regulation because he supports it in one of the most exceptional cases in the history of economics seems like nonsense to me. Whatever her political views are, I'd have a lot more respect for Maddow if she'd lay off the spin. In my opinion it takes away from her otherwise very intelligent points.
Shaun C. at 10:12AM on Sep 28th 2008
28. Never in history has the U.S. population had a better reason to revolt against the federal government. What is meant by "reasonable limits on severence packages for fired executives"? The only reasonable scenario is criminal indictment for those executives and for any government official who votes to protect them.
K.O. Vordahl at 10:34AM on Sep 28th 2008
29.
How many warrants will the "rescued fat cats" be allowed to buy or be issued on the bailout?
Is Main St. really spelled WALL ST?
joe blazes at 12:13PM on Sep 28th 2008
30. That was the biggest load of crap I have ever sat through. Aggravating how the liberals practically call their listeners stupid by handing them ridiculous metaphors and and an oversimplication of the facts using the same terms to mean different things. Government WAS the problem, not because they choose not to regulate, which has allowed many other businesses prosper, but because they backed Wallstreet with quasi-government unregulated institutions that had FULL GOVENMNET GUARANTY. Kind of a golden parachute in and of itself. And calling for regulation in a bailout deal is COMPLETELY DIFFERNT than calling for the regulation and "supervision" of government in private industry on a regular basis. Trying to say that McCain has now totally made a 180 demonstrates a lack of logic rational thought. Just because you use the same word does not mean that word has the exact same application. I have so much more to say but I am so angry at the absolute abuse of media power and the blinding of americans to the facts, and on a whole seperate thing the idea of "limited severance packages" (if your compnay tanks, you get NOTHING right? If any regular person had a business and it FAILED there is no last check written to make sure it doesn't hurt you, even though it was your fault. THERE SHOULD BE NO GOLDEN PARACHUTE, I'M A LITTLE SHOCKED THEY'RE NOT REQUIRED TO MAKE REPARATIONS!!! How ya gonna ask the same guy whose little family home you practically STOLE to make sure you don't lose the gardener at your vacation homE????) This is gonna turn me to booze. Maybe if I drink a whole bottle and then whack myself in the head I'll get what the commicrats are saying.
The Liberals are Killing US(A) at 11:17PM on Sep 29th 2008