From the current front page at the NY Times:
Today’s Developments
The S.E.C. temporarily bans short sales of stock in 799 financial companies.
The Treasury offers to guarantee money-market funds up to $50 billion.
The Fed says it will buy mortgage-agency notes and lend money to ease the pressure on the money-market funds.
More regulation. More intervention. More placing tax dollars at risk to shore up private enterprises. And that’s just this morning’s news. Goodness knows what further aggressive government steps are yet to come. Clearly, the tens of billions of dollars spent to nationalize Fannie Mae, Freddie Mac, and AIG weren’t enough.
One thing’s pretty clear, though: John McCain’s reflexive and unthinking anti-regulatory, hands-off-the-market philosophy of the last 20 years or so has been a catastrophic failure, and will shortly result in the most expensive taxpayer-funded bailout in history. Much more expensive than the Savings & Loan disaster — which, let us not forget, John McCain played a significant role in causing, via his unethical intervention on behalf of Charles Keating.
Nice going, John. Thanks for nothing.
Let this be the FINAL nail in the deregulatory/trickle-down conservative philosophies…please dear lord.
I guess the 5-year plan did not work very well from the Central Republican Planning Committee.
The Chairman of the house oversight committee is one barney Frank, House Financial Services Chair.
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p>There was egregious criminal behavior at Fannie Mae and Freddie Mac
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p>Would anyone care to identify: Barney Franke, Franklin Raines, Jim Johnson and Jamie Gorelick. Show of hands anyone?
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p>Save the pathetic outrage and place the blame where it belongs. I can’t think of any particular pejorative language to define aforementioned. Personally, I think a fast track trial and either the gallows should await them. Kinda like FDR executing the German spies in one week in WWII.
Sen Dodd is the Senate Banking chair. Dodd reveived tens of thousands of dollars in graft from Fannie Mae and Freddie Mac.
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p>ANYONE ABLE TO CONNECT THE DOTS? ANYONE?
… if you give me Rick Davis
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p>Fair, as they say, is fair…
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p>To be replaced by … what? Be specific.
aren’t you a little bit amused at the reaction of the markets to the prospect of a massive taxpayer-funded bailout?
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p>”Look! The government is coming to save our ass! YAY!!!”
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p>
Hey Joe Average Taxpayer,
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p>President Bush just agreed that you will cough up $1,000 to $5,000.
Cash from your pocket. That money will go to prop up some banks.
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p>The guys who ran those companies got the Republicans to change a bunch of rules years ago. It was called deregulation. That means: let us bank guys do whatever we want. Most of those guys made at least $100 million each. Now that the whole thing has blown up, and they’ve put our whole economy at risk, you know what will happen to them? Well, some of them are frustrated. They might have just $50 million instead of $100 million. Might have to sell one yacht.
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p>If you happen to own stock in those banks, you’ll be okay. The $1,000 to $5,000 will go from your left pocket to your right pocket. If you don’t own those stocks, your $1,000 to $5,000 is gone forever.
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p>By the way, this $1,000 to $5,000 is on TOP of the $1,000 to $5,000 that you spent on the Iraq War, total bill $555 billion thus far.
There’s a lot of data that people can’t easily process “big numbers.”
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p>Obama needs to hammer this simple point too:
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p>You know the Iraq War we’ve been fighting for 8 years that we didn’t need to fight? That cost us $555 billion so far, (not counting our lost our wounded soldiers, not counting nations that used to be our allies but aren’t anymore).
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p>Well this Bush bailout will cost at least as much as ANOTHER Iraq War, and quite possibly TWO Iraq Wars. Overnight, taxpayers just were told to pay for 1 or 2 more Iraq Wars.
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p>
one final thought about language-people-understand on this topic, stuff obama can use.
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p>* * *
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p>imagine a football game where, if you throw a risky pass, and it’s picked off, you STILL keep the ball.
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p>what would you do?
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p>you’d throw risky passes every single time. you’d never try to work hard to make a 4-yard run work. why? no downside anymore to the risky passes.
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p>we’ve allowed the rules to be changed so that a CEO wants to throw a risky pass every single time. if it hits big, touchdown, CEO gets a ton of money. but if it’s picked off, no sweat, CEO STILL gets a ton of money.
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p>the republican style is to always reward people with big balls who confidently declare I WILL KICK ASS. bush says that in iraq. ceos say that in our banks. then when it blows up in their face, NEVER do they even say “I’m sorry. i screwed up.”
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p>mccain is another shoot from the hip, really cocky guy like bush, confidently saying I WILL KICK ASS, confidently saying MISSION ACCOMPLISHED. yet mccain tries to tell us don’t look at the LAST guy who told you that, don’t look at BUSH, i’m a TOTALLY DIFFERENT cocky guy saying that. i agree with BUSH 90% of the time but i’m a totally different cocky guy. how can you buy that?
Imagine you’re a Yank at a Cricket game.
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p>That’s Obama and McCain staring at the Banking system and recent events.
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p>And, someone walks up to them and says, coach us during this game, or we’ll kill you.
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p>Pressure’s on. What does he do? Well, both hear from the cricket experts that the fast bowler is also the anchor with a wicked bite who captured 33 wickets at an average of 15.75, with match figures of 19-181 in the Pura Cup final facing down NSW which nailed his entry on Australia A squad. Certainly not a dibbly dobbly.
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p>So what to do:
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p>Obama: Let’s go. The old coach always failed the team, and now we’re facing more of the same. Hope, I’ll do it differently. Hope and change….
<
p>because if he actually describes what he’ll do, there’s great risk of appearing silly, because no one, and I mean no one American understands cricket, or the federal reserve.
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p>McCain: Let’s go. I’m tough as nails and I will kick their ass, those mealy mouth pussies….
<
p>because if he actually describes what he’ll do, there’s great risk of appearing silly, because no one, and I mean no one American understands cricket, or the federal reserve.
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p>
The question I’m asking is not how to actually solve the problem.
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p>The question is: both guys are going to stay stuff.
<
p>What stuff should Obama say to help him win independent voters?
A bunch of rich bankers made promises that would cost a lot to keep. Our Republican friends think they shouldn’t pay the high price to keep their word; instead, they think you should. If you agree that keeping your word is an American value — no matter how much that costs, and no matter if you’re rich or poor — I hope you’ll work with me to resolve this crisis in a way that works for every American.
Want to know who the REAL THIEVES ARE?
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p>Obama donors
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p>Goldman Sachs $691,930
University of California $611,207
Citigroup Inc $448,599
JPMorgan Chase & Co $442,919
Harvard University $435,769
Google Inc $420,174
UBS AG $404,750
National Amusements Inc $389,140
Microsoft Corp $377,235
Lehman Brothers $370,524
Sidley Austin LLP $350,302
Moveon.org $347,463
Skadden, Arps et al $340,264
Time Warner $338,527
Wilmerhale Llp $335,398
Morgan Stanley $318,070
Latham & Watkins $297,400
Jones Day $289,476
University of Chicago $278,885
Stanford University $276,038
http://www.opensecrets.org/pre…
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p>Partial list
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p> Update: Fannie Mae and Freddie Mac Invest in Lawmakers
Published by Lindsay Renick Mayer on September 11, 2008 11:26 AM | Permalink | Comments (11)
When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies. On Sunday the government completely took over the two government-sponsored enterprises, and we’ve returned to our data to bring you the updates, this time providing a list of all 354 lawmakers who have gotten money from Fannie Mae and Freddie Mac (in July we posted the top 25). These totals are based on data released electronically from the FEC on Sept. 2 and include contributions to lawmakers’ leadership PACs and candidate committees from the floundering companies’ PACs and employees. Current members of Congress have received a total of $4.8 million from Fannie Mae and Freddie Mac, with Democrats collecting 57 percent of that. This week we also wrote about how much money lawmakers had invested of their own money in the companies last year–a total of up to $1.7 million.
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p>All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name Office State Party Grand Total Total from
PACs Total from
Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Kerry, John S MA D $111,000 $2,000 $109,000
Bennett, Robert F S UT R $107,999 $71,499 $36,500
Bachus, Spencer H AL R $103,300 $70,500 $32,800
Blunt, Roy H MO R $96,950 $78,500 $18,450
Kanjorski, Paul E H PA D $96,000 $57,500 $38,500
Bond, Christopher S ‘Kit’ S MO R $95,400 $64,000 $31,400
Shelby, Richard C S AL R $80,000 $23,000 $57,000
Reed, Jack S RI D $78,250 $43,500 $34,750
Reid, Harry S NV D $77,000 $60,500 $16,500
Clinton, Hillary S NY D $76,050 $8,000 $68,050
Davis, Tom H VA R $75,499 $13,999 $61,500
Boehner, John H OH R $67,750 $60,500 $7,250
Conrad, Kent S ND D $64,491 $22,000 $42,491
Reynolds, Tom H NY R $62,200 $53,000 $9,200
Johnson, Tim S SD D $61,000 $20,000 $41,000
Pelosi, Nancy H CA D $56,250 $47,000 $9,250
Carper, Tom S DE D $55,889 $31,350 $24,539
Hoyer, Steny H H MD D $55,500 $51,500 $4,000
Pryce, Deborah H OH R $55,500 $45,000 $10,500
Emanuel, Rahm H IL D $51,750 $16,000 $35,750
Isakson, Johnny S GA R $49,200 $35,500 $13,700
Cantor, Eric H VA R $48,500 $46,500 $2,000
Crapo, Mike S ID R $47,250 $40,500 $6,750
Frank, Barney H MA D $42,350 $30,500 $11,850
Bean, Melissa H IL D $41,249 $34,999 $6,250
Bayh, Evan S IN D $41,100 $16,500 $24,600
McConnell, Mitch S KY R $41,000 $40,000 $1,000
Maloney, Carolyn B H NY D $39,750 $16,500 $23,250
Dorgan, Byron L S ND D $38,750 $30,500 $8,250
Miller, Gary H CA R $38,000 $31,500 $6,500
Rangel, Charles B H NY D $38,000 $14,750 $23,250
Tiberi, Patrick J H OH R $35,700 $32,600 $3,100
Bunning, Jim S KY R $33,802 $29,650 $4,152
Stabenow, Debbie S MI D $33,450 $32,000 $1,450
Chambliss, Saxby S GA R $33,250 $22,500 $10,750
Menendez, Robert S NJ D $31,250 $30,500 $750
Enzi, Mike S WY R $31,000 $27,500 $3,500
Van Hollen, Chris H MD D $30,700 $11,000 $19,700
Landrieu, Mary L S LA D $30,600 $20,000 $10,600
Murray, Patty S WA D $30,000 $23,000 $7,000
Clyburn, James E H SC D $29,750 $26,000 $3,750
Crowley, Joseph H NY D $29,700 $25,500 $4,200
Sessions, Pete H TX R $29,472 $24,000 $5,472
McCrery, Jim H LA R $29,000 $26,000 $3,000
Hooley, Darlene H OR D $28,750 $19,500 $9,250
Royce, Ed H CA R $28,600 $4,000 $24,600
Renzi, Rick H AZ R $28,250 $28,000 $250
Lieberman, Joe S CT I $28,250 $11,500 $16,750
Baucus, Max S MT D $27,500 $21,000 $6,500
Moore, Dennis H KS D $26,550 $25,500 $1,050
Coleman, Norm S MN R $24,690 $12,000 $12,690
Matheson, Jim H UT D $24,500 $24,000 $500
Schumer, Charles E S NY D $24,250 $1,500 $22,750
Durbin, Dick S IL D $23,750 $14,000 $9,750
Rogers, Mike H MI R $22,750 $21,000 $1,750
Lynch, Stephen F H MA D $22,500 $13,500 $9,000
Rockefeller, Jay S WV D $22,250 $5,000 $17,250
Smith, Gordon H S OR R $22,000 $20,000 $2,000
Mikulski, Barbara A S MD D $21,750 $16,500 $5,250
McCain, John S AZ R $21,550  
;$0 $21,550
Spratt, John M Jr H SC D $21,500 $17,000 $4,500
Brown-Waite, Ginny H FL R $21,000 $21,000 $0
Davis, Geoff H KY R $21,000 $19,500 $1,500
Velazquez, Nydia M H NY D $20,750 $16,750 $4,000
Baca, Joe H CA D $20,500 $20,200 $300
Alexander, Lamar S TN R $20,500 $20,000 $500
Allard, Wayne S CO R $20,250 $0 $20,250
Neugebauer, Randy H TX R $20,000 $20,000 $0
Nelson, Ben S NE D $20,000 $19,000 $1,000
Salazar, Ken S CO D $19,900 $17,000 $2,900
Jefferson, William J H LA D $19,250 $8,500 $10,750
Byrd, Robert C S WV D $18,500 $8,000 $10,500
Hatch, Orrin G S UT R $18,250 $12,500 $5,750
Miller, Brad H NC D $18,000 $16,500 $1,500
Sherman, Brad H CA D $18,000 $12,500 $5,500
Craig, Larry S ID R $18,000 $15,000 $3,000
Roberts, Pat S KS R $18,000 $18,000 $0
Waters, Maxine H CA D $17,800 $15,000 $2,800
Biggert, Judy H IL R $17,750 $15,500 $2,250
Gerlach, Jim H PA R $17,750 $16,500 $1,250
Reyes, Silvestre H TX D $17,550 $2,000 $15,550
LaTourette, Steven C H OH R $17,500 $17,500 $0
Brownback, Sam S KS R $17,300 $14,250 $3,050
Barrett, Gresham H SC R $17,250 $13,000 $4,250
Watt, Melvin L H NC D $17,250 $13,000 $4,250
Scott, David H GA D $17,000 $13,500 $3,500
King, Pete H NY R $16,750 $1,000 $15,750
Cummings, Elijah E H MD D $16,700 $10,000 $6,700
Grassley, Chuck S IA R $16,500 $14,500 $2,000
Cantwell, Maria S WA D $16,250 $0 $16,250
Domenici, Pete V S NM R $16,226 $7,000 $9,226
Herseth Sandlin, Stephanie H SD D $16,200 $4,500 $11,700
Putnam, Adam H H FL R $15,500 $15,500 $0
Feinstein, Dianne S CA D $15,250 $2,000 $13,250
Brown, Sherrod S OH D $15,000 $15,000 $0
Feeney, Tom H FL R $14,750 $13,500 $1,250
Sununu, John E S NH R $14,750 $0 $14,750
Hinojosa, Ruben H TX D $14,500 $13,000 $1,500
Capito, Shelley Moore H WV R $14,250 $8,000 $6,250
Burr, Richard S NC R $14,250 $13,500 $750
Jackson, Jesse Jr H IL D $14,000 $8,000 $6,000
Meeks, Gregory W H NY D $14,000 $13,500 $500
Cornyn, John S TX R $14,000 $12,000 $2,000
Collins, Susan M S ME R $13,000 $12,000 $1,000
Boxer, Barbara S CA D $12,750 $5,000 $7,750
McHenry, Patrick H NC R $12,500 $12,500 $0
Israel, Steve H NY D $12,050 $10,000 $2,050
Nunes, Devin Gerald H CA R $12,000 $12,000 $0
Davis, Artur H AL D $11,750 $11,500 $250
Martinez, Mel S FL R $11,750 $8,500 $3,250
Roskam, Peter H IL R $11,650 $8,500 $3,150
Pryor, Mark S AR D $11,650 $9,500 $2,150
Webb, James S VA D $11,550 $1,000 $10,550
Doolittle, John T H CA R $11,500 $11,500 $0
Harkin, Tom S IA D $11,450 $6,900 $4,550
Lee, Barbara H CA D $11,250 $11,000 $250
Thune, John S SD R $11,057 $1,000 $10,057
Klein, Ron H FL D $11,000 $11,000 $0
Mahoney, Tim H FL D $11,000 $11,000 $0
Fossella, Vito H NY R $10,750 $7,500 $3,250
Schultz, Debbie Wasserman H FL D $10,750 $9,750 $1,000
Thompson, Mike H CA D $10,600 $1,000 $9,600
Moran, Jim H VA D $10,500 $1,250 $9,250
Kennedy, Edward M S MA D $10,500 $3,000 $7,500
Clay, William L Jr H MO D $10,250 $8,500 $1,750
Payne, Donald M H NJ D $10,100 $5,500 $4,600
Dingell, John D H MI D $10,000 $7,000 $3,000
Lincoln, Blanche S AR D $10,000 $5,500 $4,500
Levin, Sander H MI D $9,800 $0 $9,800
Roybal-Allard, Lucille H CA D $9,800 $5,000 $4,800
Barrasso, John A S WY R $9,500 $9,500 $0
Nelson, Bill S FL D $9,500 $9,000 $500
Napolitano, Grace H CA D $9,300 $8,500 $800
Castle, Michael N H DE R $9,200 $7,000 $2,200
Drake, Thelma H VA R $9,000 $9,000 $0
Dreier, David H CA R $9,000 $7,000 $2,000
Bachmann, Michele Marie H MN R $8,850 $6,500 $2,350
Gonzalez, Charlie A H TX D $8,500 $5,000 $3,500
Lewis, John H GA D $8,500 $4,000 $4,500
Knollenberg, Joe H MI R $8,250 $5,000 $3,250
Moore, Gwen H WI D $8,250 $8,000 $250
Pastor, Ed H AZ D $8,100 $4,500 $3,600
Norton, Eleanor Holmes D DC D $8,000 $3,000 $5,000
Becerra, Xavier H CA D $8,000 $7,000 $1,000
Jackson Lee, Sheila H TX D $8,000 $0 $8,000
Larson, John B H CT D $8,000 $8,000 $0
Lewis, Jerry H CA R $8,000 $7,000 $1,000
Melancon, Charles J H LA D $8,000
$8,000 $0
Walsh, James T H NY R $7,750 $0 $7,750
Corker, Bob S TN R $7,750 $2,000 $5,750
Cramer, Bud H AL D $7,500 $7,000 $500
Cubin, Barbara H WY R $7,500 $5,000 $2,500
Ensign, John S NV R $7,300 $6,000 $1,300
Meek, Kendrick B H FL D $7,250 $6,500 $750
Wilson, Charlie H OH D $7,250 $7,000 $250
Leahy, Patrick S VT D $7,250 $2,500 $4,750
Cleaver, Emanuel H MO D $7,000 $7,000 $0
Marchant, Kenny Ewell H TX R $7,000 $7,000 $0
Thompson, Bennie G H MS D $7,000 $6,000 $1,000
Casey, Bob S PA D $7,000 $6,000 $1,000
Solis, Hilda L H CA D $6,800 $6,500 $300
Gordon, Bart H TN D $6,750 $4,000 $2,750
Pomeroy, Earl H ND D $6,750 $5,000 $1,750
Tiahrt, Todd H KS R $6,500 $6,500 $0
Boyd, Allen H FL D $6,000 $5,500 $500
Capuano, Michael E H MA D $6,000 $5,000 $1,000
Heller, Dean H NV R $6,000 $6,000 $0
Marshall, Jim H GA0 D $6,000 $6,000 $0
Whitfield, Ed H KY R $6,000 $6,000 $0
Klobuchar, Amy S MN D $5,650 $1,500 $4,150
Ross, Mike H AR D $5,550 $3,000 $2,550
McCarthy, Carolyn H NY D $5,500 $5,500 $0
Slaughter, Louise M H NY D $5,500 $5,500 $0
Hodes, Paul W H NH D $5,450 $5,000 $450
Cardin, Ben S MD D $5,300 $500 $4,800
Boren, Dan H OK D $5,250 $5,000 $250
Ackerman, Gary H NY D $5,000 $4,000 $1,000
Andrews, Robert E H NJ D $5,000 $0 $5,000
Camp, Dave H MI R $5,000 $5,000 $0
Cole, Tom H OK R $5,000 $5,000 $0
Davis, Lincoln H TN D $5,000 $5,000 $0
Hill, Baron H IN D $5,000 $5,000 $0
Pearce, Steve H NM R $5,000 $5,000 $0
Perlmutter, Edwin G H CO D $5,000 $5,000 $0
Weller, Jerry H IL R $5,000 $0 $5,000
Snowe, Olympia J S ME R $5,000 $4,000 $1,000
Wicker, Roger S MS R $5,000 $5,000 $0
Davis, Danny K H IL D $4,950 $2,000 $2,950
Chabot, Steve H OH R $4,750 $3,000 $1,750
Honda, Mike H CA D $4,750 $4,000 $750
Price, David H NC D $4,550 $2,050 $2,500
Hagel, Chuck S NE R $4,500 $0 $4,500
Lugar, Richard G S IN R $4,500 $1,000 $3,500
Kaptur, Marcy H OH D $4,350 $1,000 $3,350
McCollum, Betty H MN D $4,350 $0 $4,350
Carson, Andre H IN D $4,250 $4,000 $250
Obey, David R H WI D $4,250 $2,000 $2,250
Salazar, John H CO D $4,250 $4,000 $250
Sanchez, Loretta H CA D $4,250 $3,000 $1,250
Tanner, John H TN D $4,250 $3,500 $750
Cardoza, Dennis H CA D $4,000 $4,000 $0
English, Phil H PA R $4,000 $4,000 $0
Green, Al H TX D $4,000 $4,000 $0
Kilpatrick, Carolyn Cheeks H MI D $4,000 $3,250 $750
Murphy, Chris H CT D $4,000 $4,000 $0
Tester, Jon S MT D $4,000 $3,500 $500
Rodriguez, Ciro D H TX D $3,750 $3,000 $750
Donnelly, Joe H IN D $3,500 $3,500 $0
Matsui, Doris O H CA D $3,500 $2,500 $1,000
Paul, Ron H TX R $3,500 $0 $3,500
Price, Tom H GA R $3,500 $3,500 $0
Schmidt, Jean H OH R $3,500 $2,500 $1,000
Wexler, Robert H FL D $3,500 $3,500 $0
Wyden, Ron S OR D $3,500 $0 $3,500
Biden, Joseph R Jr S DE D $3,300 $0 $3,300
Gutierrez, Luis V H IL D $3,250 $2,500 $750
Harman, Jane H CA D $3,250 $0 $3,250
Hensarling, Jeb H TX R $3,250 $1,500 $1,750
Kennedy, Patrick J H RI D $3,250 $0 $3,250
Ryan, Paul H WI R $3,250 $2,500 $750
Myrick, Sue H NC R $3,200 $1,500 $1,700
Schwartz, Allyson H PA D $3,200 $2,000 $1,200
Diaz-Balart, Lincoln H FL R $3,000 $3,000 $0
Lucas, Frank D H OK R $3,000 $1,500 $1,500
McCarthy, Kevin H CA R $3,000 $3,000 $0
Souder, Mark E H IN R $3,000 $3,000 $0
Udall, Mark H CO D $3,000 $2,500 $500
Bingaman, Jeff S NM D $3,000 $3,000 $0
Levin, Carl S MI D $3,000 $3,000 $0
Stevens, Ted S AK R $3,000 $3,000 $0
Hobson, Dave H OH R $2,850 $0 $2,850
Johnson, Eddie Bernice H TX D $2,825 $1,000 $1,825
Berkley, Shelley H NV D $2,750 $2,000 $750
Jones, Walter B Jr H NC R $2,750 $0 $2,750
Ferguson, Mike H NJ R $2,700 $0 $2,700
Cannon, Chris H UT R $2,500 $2,000 $500
Childers, Travis W H MS D $2,500 $2,500 $0
DeGette, Diana H CO D $2,500 $2,000 $500
Ellison, Keith H MN D $2,500 $2,500 $0
Keller, Ric &
nbsp;H FL R $2,500 $2,000 $500
Oberstar, James L H MN D $2,500 $0 $2,500
Serrano, Jose E H NY D $2,500 $1,500 $1,000
Shays, Christopher H CT R $2,500 $2,000 $500
McCaskill, Claire S MO D $2,500 $2,500 $0
Cuellar, Henry H TX D $2,450 $2,000 $450
Markey, Edward J H MA D $2,250 $0 $2,250
Smith, Adam H WA D $2,250 $2,000 $250
Butterfield, G K H NC D $2,000 $2,000 $0
Costa, Jim H CA D $2,000 $2,000 $0
Foster, Bill H IL D $2,000 $2,000 $0
Grijalva, Raul M H AZ D $2,000 $2,000 $0
Hastings, Doc H WA R $2,000 $2,000 $0
Moran, Jerry H KS R $2,000 $0 $2,000
Murphy, Patrick J H PA D $2,000 $2,000 $0
Olver, John W H MA D $2,000 $2,000 $0
Porter, Jon H NV R $2,000 $2,000 $0
Regula, Ralph H OH R $2,000 $0 $2,000
Reichert, Dave H WA R $2,000 $2,000 $0
Sanchez, Linda H CA D $2,000 $2,000 $0
Sires, Albio H NJ D $2,000 $2,000 $0
Tauscher, Ellen H CA D $2,000 $2,000 $0
Akaka, Daniel K S HI D $2,000 $2,000 $0
Cochran, Thad S MS R $2,000 $2,000 $0
Whitehouse, Sheldon S RI D $2,000 $1,000 $1,000
Allen, Tom H ME D $1,950 $0 $1,950
Stearns, Cliff H FL R $1,850 $1,850 $0
DeLauro, Rosa L H CT D $1,750 $1,000 $750
Towns, Edolphus H NY D $1,750 $0 $1,750
Hulshof, Kenny H MO R $1,700 $1,250 $450
Fattah, Chaka H PA D $1,500 $1,000 $500
Neal, Richard E H MA D $1,500 $1,500 $0
Diaz-Balart, Mario H FL R $1,450 $1,000 $450
Kucinich, Dennis J H OH D $1,349 $0 $1,349
Alexander, Rodney H LA R $1,250 $1,250 $0
Carnahan, Russ H MO D $1,250 $1,000 $250
Wilson, Heather A H NM R $1,250 $0 $1,250
Coburn, Tom S OK R $1,250 $0 $1,250
Feingold, Russ S WI D $1,250 $0 $1,250
Kyl, Jon S AZ R $1,250 $0 $1,250
Linder, John H GA R $1,150 $500 $650
Sestak, Joe H PA D $1,150 $0 $1,150
Specter, Arlen S PA R $1,100 $350 $750
Berry, Marion H AR D $1,000 $1,000 $0
Blackburn, Marsha H TN R $1,000 $1,000 $0
Boswell, Leonard L H IA D $1,000 $1,000 $0
Boucher, Rick H VA D $1,000 $1,000 $0
Boustany, Charles W Jr H LA R $1,000 $1,000 $0
Calvert, Ken H CA R $1,000 $1,000 $0
Campbell, John H CA R $1,000 $1,000 $0
Cazayoux, Donald J H LA D $1,000 $1,000 $0
Conaway, Mike H TX R $1,000 $1,000 $0
Cooper, Jim H TN D $1,000 $500 $500
Ellsworth, Brad H IN D $1,000 $1,000 $0
Filner, Bob H CA D $1,000 $0 $1,000
Graves, Sam H MO R $1,000 $1,000 $0
Hayes, Robin H NC R $1,000 $0 $1,000
Higgins, Brian M H NY D $1,000 $1,000 $0
Johnson, Hank H GA D $1,000 $0 $1,000
Latham, Tom H IA R $1,000 $1,000 $0
Lofgren, Zoe H CA D $1,000 $0 $1,000
McNerney, Jerry H CA D $1,000 $1,000 $0
Michaud, Mike H ME D $1,000 $1,000 $0
Mitchell, Harry E H AZ D $1,000 $1,000 $0
Musgrave, Marilyn H CO R $1,000 $0 $1,000
Ortiz, Solomon P H TX D $1,000 $1,000 $0
Rush, Bobby L H IL D $1,000 $0 $1,000
Schiff, Adam H CA D $1,000 $1,000 $0
Scott, Robert C H VA D $1,000 $0 $1,000
Smith, Chris H NJ R $1,000 $0 $1,000
Space, Zachary T H OH D $1,000 $1,000 $0
Terry, Lee H NE R $1,000 $0 $1,000
Walberg, Tim H MI R $1,000 $0 $1,000
Welch, Peter H VT D $1,000 $1,000 $0
Wolf, Frank R H VA R $1,000 $1,000 $0
Dole, Elizabeth S NC R $1,000 $0 $1,000
Lautenberg, Frank R S NJ D $1,000 $0 $1,000
Christian-Green, Donna D VI D $750 $0 $750
Inslee, Jay R H WA D $750 $0 $750
Duncan, John J Jr H TN R $600 $600 $0
Bilbray, Brian P H CA R $500 $0 $500
Bishop, Sanford D Jr H GA D $500 $500 $0
Castor, Kathy H FL D $500 $0 $500
Edwards, Donna H MD D $500 $0 $500
Hinchey, Maurice H NY D $500 $0 $500
LaHood, Ray H IL R $500 $0 $500
Mack, Connie H FL R $500 $0 $500
Pascrell, Bill Jr H NJ D $500 $500 $0
Pickering, Charles ‘Chip’ Jr H MS R $500 $500 $0
Rehberg, Denny H MT R $500 $0 $500
Sarbanes, John H MD D $500 $0 $500
Shadegg, John H AZ R $500 $0 $500
Skelton, Ike H MO D $500 $500 $0
Smith, Lamar H &nbs
p;TX R $500 $500 $0
Stark, Pete H CA D $500 $500 $0
Weldon, Dave H FL R $500 $0 $500
Wu, David H OR D $500 $0 $500
Graham, Lindsey S SC R $500 $0 $500
Brown, Corrine H FL D $450 $0 $450
Turner, Michael R H OH R $375 $0 $375
Hastings, Alcee L H FL D $300 $0 $300
Warner, John W S VA R $300 $0 $300
Aderholt, Robert B H AL R $250 $0 $250
Arcuri, Michael H NY D $250 $0 $250
Carney, Chris H PA D $250 $0 $250
Dicks, Norm H WA D $250 $0 $250
Lampson, Nick H TX D $250 $0 $250
Manzullo, Don H IL R $250 $0 $250
Platts, Todd H PA R $250 $0 $250
Watson, Diane E H CA D $250 $0 $250
Weiner, Anthony D H NY D $250 $0 $250
DeMint, James W S SC R $250 $0 $250
Sanders, Bernie S VT I $250 $250 $0
<
p>Total $4,844,572 $3,017,797 $1,826,775
<
p>Those of us with short positions, are less than amused. The current rally is likely an SEC short covering rally, not investor hubris.
Investors With Short Positions For Obama!
to current short positions in addition to future ones (until October at least)?
<
p>That sux
the order says:
<
p>
<
p>It doesn’t mention open short positions.
<
p>But even without mandated short-covering, we’re today seeing that the ban is probably haveing the same effect. Existing shorts are closing positions and squeezing themselves in this rally.
With all the financial frenzy, who got hit equally as hard?
<
p>SOLAR!
<
p>Evergreen Solar the Deval Darling Corporate Charity Poster Child, tanked because it made a dumb bet with $40M of its shareholder money on some Capped debt from Lehman.
when a 60 Trillion dollar market goes down in flames… It’s gonna make a lot of collateral damage.
<
p>Sometimes, dumb is only in hindsight.
When facing fixed cash along with uncertain cash burn rate and a stock price in the single digits, paying $40M for a convertible cap of $19 is hubris. And dumb in hindsight and with foresight.
to stop playing the blame game and start slinging the non-partisanship rhetoric. McCain/Palin will hammer him if he doesn’t.
<
p>New gallup poll has Obama expanding his lead to five points. Let’s hope he keeps this momentum. I have a feeling though that we’re gonna see that lead decrease by middle of next week.
…hase anyone considered the ramifications of the Feds and the treasury extending the almost bankrupt FDIC to Money Markets?
<
p>Well if you have 100,000 in a local bank insured by FDIC and getting 2.5% interest wouldn’t you consider pulling that out on Monday to invest ina Money Market which is now insured by FDIC to 100,000 and cash in on the 4.15% interests most offer.
<
p>This has the potential to destabilize local banks to the benefit of wall street the underlying effect is to Dump bonds back onto the market at firesale prices to cover the potential runs.
<
p>Do you really think that Paulson understands what he is doing or is he just in reactionary mode only.
<
p>Watch out for the next shoe Ouch!
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p>Best to All
The day before yesterday. The State Street bank had a run begun on their money markets. These preferred investors had the money in there in 10 MILLION dollar blocks! State Street stopped trading, I guess on orders of the Boston FED . They would have been wiped out by the end of the day. FDIC is sitting on ver thin ice. I’m puzzled why there isn’t but a few threads on this on BMG. This is big. this is REAL BIG. Someone told me because folks don’t understand. What’s to understand? This isn’t rocket science.
<
p>I am unaware if you folks are aware of this or not—but essentially America is now broke for the next six to eight years. We have no money in the US Treasury. It has been spent to save all of the financial institutions in USA from failure because of the magnitude of bad paperthey hold. Bush is attempting to establish a quarantine house where the US government will essentially buy/hold all of this bad paper and clear it out out of the market. A financial catastrophe of biblical proportion.
<
p>This whole thing started with unreasonable, irrational, and unrealistic intentions (but good intentions) : every American (legal or otherwise) should be a homeowner. Now we see the result. We really are in very serious trouble. No matter who is president will be penniless. One would hope that they funnel what’s left to Dept of Defense and NIH. Everything else is going to have to go on the back burner. Thanks Chris Dodd, Thanks Barney, Nice Job Nancy. Mr Raines—enjoying your new yacht?, Jamie—who’s the next victim –you’re the kiss of death, Jim Johnson—stay away from banks, volunteer in a detox center—-do something worthwhile in tour life. Phil Gramm—I hope it’s not to hot in hell. Harry—-you had better take up residence in Europe when you are replaced.
how will we pay for the ongoing war in eyerak?
The FDIC isn’t almost bankrupt, it has more than $45 billion in the fund and it also has the ability to raise more money from all the banks that are insured by it. The move to insure money market funds doesn’t involve the FDIC at all. Treasury tapped a Depression-era fund called the Exchange Stabilization Fund to put up $50 billion to cover money market fund accounts.
<
p>I haven’t seen all the details yet, but in my view, this was the most reckless move the Bush Administration has made so far. Money market funds are investments — stable and relatively safe investments, but investments nonetheless. Providing government guarantees for investment products is pretty fundamental shift in the way that the federal government deals with securities vs. bank deposits.
OK if I take a dollar from my right pocket and put it into my left pocket How many dollars do I have. By your account of the FDIC it would suggest the answer were 2 dollars the bush administration would say $4.00 the $2 in my right and left pocket and the $2 I will borrow from China. The American people unfortunately will when doing the math realize that they have ZERO dollars because their is a hole in your left pocket.
<
p>WAKE UP! you can print all you want if you have to take more money out of a fund then it has then it is Broke Busted. If I used your same logic lets just raise taxes on everyone and the problem is solved right we can pay our way out of this correct. Everyone will have to suck it up and pay 38% on all earnings and we will be bailed out in a decade right. WRONG! we are spending money we don’t have to bail up big business with the excuse to protect the american people who will instead pay for this 10 times over it is just like a credit card with 30% interest.
<
p>I have to pose a question when does it stop and where and what happens then HUMMMMM?
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p>Best to All
Never thought about that. I’m too lazy to move my measly checking/savings account dough to an MM fund, but I have to admit I rolled pretty much 80% of my retirement investments into mutual funds at least temporarily.
80% into money market funds