Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

You must not have heard the news this evening. No one talked about waiting to see if Obama was on board. They need McCain to be on board and they aren't sure he will be.

Pretty cool for the Maverick!!!! :dance

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

Man, it is a bit of a S-T-R-E-T-C-H to tie today's mess back to the 90's when there have been forks in the road and decisions made since then that could have kept the country from going down this road.

As late as 2005, this mess could have been avoided, legislatively.

When I first started looking for a home in about March 2007, I had a couple Real Estate agents tell me to wait a year or so, if possible, before buying my home if I really wanted a deal.

So if Real Estate agents could see the, "Bad Moon Rising" why couldn't these other folks like Paulson and other Bush advisors see it?

Of course, if things were going good right now, we would be singing the praises of our current President who has been our President for almost 8 years now.

But things are bad and of course, it's not really his fault, or his Administrations fault, or the fault of the money hungry, greedy and unscrupulous business, bank, and insurance firm leaders!


Let's beat Bill again!!!!

Bill Clinton: the Republican's favorite whipping boy!!!

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

And make the CEOs and board members that became filthy rich from this disaster sell off their assets and fork over millions of dollars FIRST...

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

I'm not sure it's all that cool or not.

If he goes along with it, he'll anger his base (theoretically) and many more Americans who are simply not ready to give the Bush Admin another huge amount of money without cords or oversight.

700 B is a lot, and in Paulson's words, "maybe not enough...."


If Sen. McCain does not go along with the plan, and things go real bad, he could become the new whipping boy or he could become the "Champion of Reform", according to some Republican leaders.

Honestly, i think it is unfair for all of this to come down on Sen. McCain like this.

Hopefully, he won't cry about it though.

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

Many people DID see it coming. Legislation was written that would have prevented or at least greatly softened today's crisis. The Democrats in the committee blocked it on a straight party line. It turns out that they enjoyed being on Fannie's dole, and hoped the good times could last . . . :club

It is prevailing wisdom that it takes many years before the effects of a given administration's economic policies can be observed and understood. Usually these things change quite slowly. As an example, the economic boom we enjoyed during the '90s was a result of the Reagan tax cuts in the '80s.

It is highly ironic that people vote for president with their pocketbook. In most cases it is very unlikely that a given presidential candidate is responsible for the current economic conditions at the time of the election.

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

don´t have any money to pull out so guess I am ok...

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

what he said.

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

Fact is my friend, the laws that we are living with were written in the 1990's

there was an attempt by both the Bush adminsration and republicans in the Senate (including John McCain) to deal with this mess in 2005 but the dems blocked that in commettee.

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

Fix this mess by:
1. Suspend Mark to Book and require banks to determine the actual value of the subprime paper they own.

2. repeal Sarbanes Oxley

3. Drop Capitial gains tax to ZERO for the next 2 years.

4. lower corporate Taxes to 12% (Irelands current rate).

Open drilling everywhere.

They could do this tomorrow and the market would respond. Money would flow like crazy.

Re: Jim Cramer of MSNBC Predicts a Great Depressio
 

Ferd,
Yesterday the main stream media was saying that they are waiting on McCain's decision on the bailout. Everyone was waiting to see what he was going to do because he doesn't always agree with Bush. I thought that was interesting.

I haven't heard any updates. Where are we at now on this?