Barney Frank on CNBC just now.. McCain throwing monkey wrench into

[annabanana]

tentative agreements.

He said that the House Repub caucas had been working with them. Baucas then left and called back later saying he had a "few other issues" apparently raised by McCain.

[babylonsister]

1. Cripes, he's a walking disaster. nt

[annabanana]

4. It's a desperate bid to have SOMETHING...

ANYTHING to do with the plan.. Johnny come lately won't let them proceed without him..

[dflprincess]

14. Or at least stall it until it's too late to show up at the debated tomorrow.

I'm amazed that Barney Frank's comments have been reported - though I suppose "our" corporate media's parent companies are anxious to get the deal done.

[Thrill]

2. They should make it seem like he is making things worst instead of helping

[annabanana]

9. he IS.. . . .what "make it seem"

He raised new issues with Baucas after the meeting.

[gateley]

3. This is a mess. And McCain's involvement will only make it worse. nt

[sickinohio]

13. McWorse!!

Wow - just Wow!!

[Median Democrat]

5. McCain Needs To Save Money! If The Deal Is Reached, He Has To Spend!

[Tallison]

15. If a deal is reached, he'll have to debate!

And so will snowjob-square glasses.


:bounce:

[Marrah_G]

6. Go get 'em Barney!

[GainesT1958]

7. No vote and NO DEAL without the Repubs...

Hold 'em to the fire, Barney!:grr:

B-)

[WeDidIt]

8. Dems should now say, "Fine, no bailout." and adjourn Congress

LEt McCain take the blame for that.

[Virginia Dare]

29. They should adjourn the Senate until Monday...n/t

[yardwork]

10. This is UNBELIEVABLE! McCain is MESSING IT UP EVEN MORE??!!

[annabanana]

12. This was a "catch him of the fly" interview.. not a

"Come out to thePodium and announce" tv moment

[dennis4868]

23. putting country first

:-(

[nickyt]

28. "unbelievable"? I think not. The vision of debating Senator Barack Obama in a mere matter of

HOURS is spurring this man to new heights of panic and fear. Oh, and knee-jerk, clumsy, embarrassing actions.

Yep, I believe it.

[kerry-is-my-prez]

11. McCain will end up getting blamed then.....

n/t

[gravity]

16. There was rare bipartisan support in Congress

to unite and get the bill passed before. Now McCain is walking in saying he is above politics. Bullshit, they have no shame

[annabanana]

24. The only "official" sticking point (up to this point)

was about individual bankruptcies

[blueclown]

17. Congressional Dems should delay this deal until Friday night.

Let McCain remain in limbo, and then sign the legislation when Obama is all by himself in Mississippi conducting his very own townhall event with Jim Lehrer.

[bushisanidiot]

18. McPanic is probably stomping his feet and demanding that the deal be named after him

something like "John McCain's Patriotic Save The U.S. From Financial Distaster Plan"

[annabanana]

26. lol! . . . . . . . n/t

[dennis4868]

19. Shit....

the last thing that McCain wants is a deal to go down before Friday night...

[screembloodymurder]

20. Walk out NOW!

DO NOT DEAL WITH TERRORIST!

[TooBigaTent]

21. Hey. If InSane's stupidity winds up delaying or destroying the sell-out, I will have ONE

thing to thank him for.

[Tallison]

22. He just dumped the chess board

What a hoser.

[TheCowsCameHome]

25. Is he waving his arms around?

If so, he must be real excited.

[annabanana]

31. Who, Barney?. . no. He was enroute to somewhere else and

looked a little preoccupied.. (no arm waving, he wasn't even sure what Baucas had heard that McCain wanted)

[TheCowsCameHome]

32. I meant John McCain. My post wasn't clear.

As punishment, I'm donating to Obama again.

[Kolesar]

27. A Bailout We Don't Need

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092403033.html?nav=slate

By James K. Galbraith
Thursday, September 25, 2008

Now that all five big investment banks -- Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley -- have disappeared or morphed into regular banks, a question arises.

The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all the time. They're called "loans."

With banks, runs occur only when depositors panic, because they fear the loan book is bad. Deposit insurance takes care of that. So why not eliminate the pointless $100,000 cap on federal deposit insurance and go take inventory? If a bank is solvent, money market funds would flow in, eliminating the need to insure those separately. If it isn't, the FDIC has the bridge bank facility to take care of that.


Next, put half a trillion dollars into the Federal Deposit Insurance Corp. fund -- a cosmetic gesture -- and as much money into that agency and the FBI as is needed for examiners, auditors and investigators. Keep $200 billion or more in reserve, so the Treasury can recapitalize banks by buying preferred shares if necessary -- as Warren Buffett did this week with Goldman Sachs. Review the situation in three months, when Congress comes back. Hedge funds should be left on their own. You can't save everyone, and those investors aren't poor.

With this solution, the systemic financial threat should go away.

...snip...

[JuniperLea]

30. If Bush says we need it... we don't!

Why the hell is anyone even entertaining ideas Chucklenuts has strapped his horses to? This is the man who lied us into war. This is the man who broke our military. This is the man who promised everyone they could afford a home and made sure there was no oversight as to how those loans were made. He's broken everything he's touched, and Congress is still letting him present his plans to fix things.

I think this stinks.

Let them fail. Let venture capitalists start small mortgage companies and private banks with their assets. Set interest limits and oversight. Let the process begin anew.