Think Progress

Graham criticizes Obama for earmarks, but defends his own.

On Meet the Press this morning, Sen. Lindsey Graham (R-SC) urged President Obama to veto the $410 billion FY09 omnibus budget because it has too many earmarks. Host David Gregory quickly pointed out that Graham’s friend and colleague, John McCain, has been highlighting Graham’s own $950,000 earmark for a convention center in Myrtle Beach, SC. Graham then pivoted from attacking earmarks to defending them:

“I voted to take all earmarks out, but I will come back in the new process and put that back in,” Graham insisted, saying that the convention center is important to stimulate the local economy. “I think I should have the ability as a United States senator to direct money back to my state as long as it’s transparent and it makes sense.”

Watch it:

Congress is expected to approve the omnibus appropriations bill this week.

Update On Meet the Press, Graham also explained why nationalizing the banks would be a prudent move.


101 Responses to “Graham criticizes Obama for earmarks, but defends his own.”

  1. dbadass says:

    Determining earmark from stimulus seems sort of akin to determining terrorist from freedom fighter


  2. delafield says:

    Will You Help Me With My Next Film? …a request from Michael Moore

    Friends,

    I am in the middle of shooting my next movie and I am looking for a few brave people who work on Wall Street or in the financial industry to come forward and share with me what they know. Based on those who have already contacted me, I believe there are a number of you who know “the real deal” about the abuses that have been happening. You have information that the American people need to hear. I am humbly asking you for a moment of courage, to be a hero and help me expose the biggest swindle in American history.

    http://www.michaelmoore.com/words/message/index.php


  3. kasinca says:

    Little Miss Lindsey seems a little mixed up at times.


  4. Jackie says:

    Miss Graham knows his State is suffering while he plays politics. All his corrupt plans went South when McCain lost. As Miss Graham watches other Republican Law Makers go lower in the polls for the 2010 election Graham is back tracking to bring money home. As he say no to the Stimulus he wants the money, as he says no to Pork the wants it for his State. Miss Graham might have to start looking for a real job or apply for one of the Stimulus jobs offered.


  5. Keith says:

    Graham said on the show that Obama is raising taxes in the middle of a recession. This is not true and it has been debunked several times. About two years from now, taxes will be raised. Yet neither David Gregory nor Sen. Schumer said anything. Why are Republicans ALWAYS allowed to tell lies on such shows?


  6. Keith says:

    On the same show, Erin Burnett (CNBC) said:
    “Half of Americans own stock so it is painful for everyone.”

    You would have to be living in Wonderland for such a sentence to be true. You can say it is painful for everyone because of job losses, high unemployment, no benefits, unaffordable healthcare, etc., but it is not painful for the 50% who own no stock for the price of stocks to go down. It is also not painful for someone who does not own a home for the price of homes to go down. It is actually good.


  7. Marie says:

    The drama queen is a hypocritical liar.


  8. delafield says:

    Greed is CORE for the GOP!

    Hatred is the core of the GOP. Hatred and racism are the threads that bind the Republican Party. Without hatred and racism, Rush Limbaugh and the Republican Party are nothing.


  9. J. Fred Smug says:

    Republicans are only consistent when it comes to spin, because their reality is spin-based.


  10. mk3872 says:

    My God, the MSM just cannot quit those 2 (the pairing of McCain & Graham)! There they are again today …


  11. Max-1 says:

    .

    Of course IOKIYR…
    … NO?

    .


  12. Mathazar says:

    So, using federal tax dollars to stimulate job creation is only good if it’s done by a republican for HIS constituents.

    Now I understand.


  13. Danny Noonan says:

    The earmarks debate is a total distraction. We need more federal spending right now. Not less. Complaining about wasteful spending while the economy is tanking makes no sense, but then I guess that fits nicely with everything else Graham and McCain are babbling incoherently about.

    http://www.pufferfishblog.com/


  14. katy says:

    Keith Says:
    On the same show, Erin Burnett (CNBC) said:
    “Half of Americans own stock so it is painful for everyone.”
    You would have to be living in Wonderland for such a sentence to be true.

    i wondered about this…
    not even when 401k’s and such are included?

    i think, indirectly, there are more than expected, but not sure…


  15. Briseadh na Faire says:

    I was for them before I was against them before I was for them before I was against them before I was for them before I was against them before I was for them before I was against them before I was for them before I was against them before I was for them before….

    oh, heck: VOTE FOR ME! I BRING MONEY TO MY STATE!!!

    And boo-hiss to those tax-and-spend liberal Democrats who create wasteful big-government pork-barrel projects to spread the wealth and take your hard-earned dollars and give them to someone else.

    /snark


  16. Keith says:

    Katy,
    Actually, that was the correct figure about 9 years ago, but I think that more people have 401K’s since then and now it might be 40-45% who have no stocks.


  17. Hope says:

    Now they are concerned. I don’t trust the GOP at all. One minute they are for you, the next minute they are not.

    They have no care for main street.


  18. delafield says:

    I have to agree with HeyZeus on this one “Greed is the root of all evil”.

    I have to admit that powerful Republicans are greedy. Maybe it’s a 50/50 mix of greed and hatred – the KKK, gun lobby, Nazis, anti-labor groups, weapons industry, anti-gay groups, anti-environment groups, anti-abortion groups, war mongers, racists, etc…

    Greed and hatred are the threads that bind the Republican Party.


  19. stewarjt says:

    Holy Crap! When a right wing whack job like Graham calls bank nationalization “prudent,” it has to be the only possible course of action.

    In whose interest is Timothy Geithner acting by refusing to nationalize the biggest zombie banks?


  20. MapleStreet says:

    I voted to take earmarks out. OK – I take that he doesn’t like earmarks.

    Then I’m going to put them back in.

    HUH ????????????????????

    At least Strom was consistent.


  21. ralph the wonder llama says:

    Graham: “I think I should have the ability as a United States senator to direct money back to my state as long as it’s transparent and it makes sense.”

    I completely agree with this.

    The problem is that Republicans like Graham pretend that “earmark” is a synonym for “wasteful spending”, if it’s not their earmark they’re talking about.

    And Danny Noonan hit the nail on the head when he said:

    The earmarks debate is a total distraction. We need more federal spending right now. Not less. Complaining about wasteful spending while the economy is tanking makes no sense


  22. SP Biloxi says:

    “Graham criticizes Obama for earmarks, but defends his own.”

    Graham’s translation in plain English: I don’t like Obama’s policy on earmarks but gimme mines.

    I agree with comment #24. This is nothing but a distraction by the GOP to confuse the public. On Face the Nation this morning, Boner said that gov’t needs to tighten their belt [of course, Boner doesn't want to debate with me that he had no problem accepting the automatic raise that he received along with the Congressional leaders this year in a heartbeat]and said that he and his GOP colleagues have a blueprint plan [which I haven't seen yet] to create twice as many jobs than Obama’s plan. Of course, he had no statistics nor blueprint plan in rebuttal to OMB director Peter Orszag. Orszag stated that Republicans have not come up with a viable alternative to the spending bill being prepared by Obama and Congressional Democrats.

    Once again, Graham is just miffed because he simply will not get blank check or pet projects by this new President. So, distraction and distort info from the GOP about Obama’s policies is all that they have left. The eight years of free ride has come to an end.


  23. Xisithrus says:

    Pork is good when its home fried


  24. BobbyG says:

    @stewarjt Says:
    Holy Crap! When a right wing whack job like Graham calls bank nationalization “prudent,” it has to be the only possible course of action.
    In whose interest is Timothy Geithner acting by refusing to nationalize the biggest zombie banks?
    _____

    I put up some updates today in my “Dukes of Moral Hazard” blog post you might find interesting.

    “We are being played for chumps. The Bush and Obama plans could only have been designed by failed bankers — for their principal beneficiaries are failed bankers… - Wm K. Black

    Still have a ways to go on that one, but for now scroll down to the updates.


  25. WAYNEBRO says:

    So we all see how utterly partisan, and downright dishonest Graham is here, right?

    So why are we listening to him on nationalizing the banks again?


  26. Rich H says:

    Keith, you said:

    “You can say it is painful for everyone because of job losses, high unemployment, no benefits, unaffordable healthcare, etc., but it is not painful for the 50% who own no stock for the price of stocks to go down.”

    Well, I don’t have any stock, I have my own business, and with the ceasation of orders due to the collapse of the stock market it’s been quite painfull.

    Don’t job losses, high unemployment, lack of benefiets (years ago I closed my 401k when it lost 40%), unaffordable healthcare (as a small business owner I can’t afford any), count at least as somewhat painful for the entire nation?


  27. BobbyG says:

    @WAYNEBRO -

    I think perhaps the extent of the financial system insolvency may finally be starting to sink in through some of these thick skulls.


  28. Mike71654 says:

    So it is “pork” if it is democratic and stimulus if it a Republican…Now I get it.


  29. Alecto says:

    Actually, if Miss Graham is saying to Nationalize the banks that means that the principles of the bank have been paid out, and now what is left is nothing but debt and a shell. No wonder it is a zombie bank. Graham and his greedy wall st/europena bank counterparts ahve sucked everything dry.

    Do you realize that the current estimate is that the Credit Default Swap debacle is estimated at 160 TRILLION FUKING DOLLARS!!!!! No mistake 160. Kiss EVERYHINT GOODBYE. Pick up the pitchfork and stab the nearest fuking banker you can find.


  30. krystalview says:

    REPUBLICANS ARE SELFISH BASTARDS DETERMINED TO DESTROY AMERICA.

    VIVA THE TALIBAN!


  31. Keith says:

    Rich H Says Don’t job losses, high unemployment, lack of benefiets (years ago I closed my 401k when it lost 40%), unaffordable healthcare (as a small business owner I can’t afford any), count at least as somewhat painful for the entire nation?

    It is very painful for the entire nation. I thought I said it very plainly. Should have added low wages. How does the fall of stock prices mean the cessation of orders for you? (Not saying it doesn’t)


  32. DallasNE says:

    Graham has to realize that much of the earmark money has already been spent and can’t be taken out because the continuing resolution he voted for some time back had it in. That is why Obama treated this bill in that manner, saying that next years bill will be different. So, why didn’t MSM ask Graham about the money that had already been spent? Not doing their job again, obviously.


  33. rimhotep says:

    Lindsay Graham has shown us one consistent personality defect: HYPOCRISY.

    Graham’s cred is shot now. Maybe we should all begin sending flip flops to his Senate office?


  34. WAYNEBRO says:

    BobbyG Says:

    @WAYNEBRO -

    I think perhaps the extent of the financial system insolvency may finally be starting to sink in through some of these thick skulls.

    Well its growing worse because we’re dragging our feet.

    Lindsey Graham and James Baker are calling for President Obama to nationalize the banks. Why? Because they want to solidify their portrait of him as a socialist.

    Because they want to say that it was on his watch, a democrats watch, the day that capitalism died.

    So I’m confused as to why we’re listening to them.

    Nationalizing the banks BEFORE we even TRY what’s worked before is nonsense, and designed to do one thing and one thing only.

    Permit the republicans to complete their image of President Obama as a socialist.

    In October 2007 three men that worked for different parties and different Presidents, Paul Volker, Eugene Ludwig and Nicolas Brady wrote an article entitled “RESURRECT THE RESOLUTION TRUST CORPORATION”, calling on President Bush to use the successful tactics employed by Bush 1 to deal with the Savings and Loans crisis of the 80’s.

    Mr. Brady was U.S. Treasury secretary from 1988-1993. Mr. Ludwig was U.S. comptroller of the currency from 1993 to 1998. Mr. Volcker was chairman of the Federal Reserve from 1979-1987. These men are not amateurs and in the article they called on Bush 2 to bring back the RTC to do the same thing it did before.

    1. Liquidate failed assets
    2. Redistribute the residual wealth
    3. Inject massive amounts of capital into healthier institutions.
    4. Impose federal oversight over the salvaged institutions to ensure proper use of federal funds for LENDING.

    The RTC was effective, and it stabilized the economy and put America back on a forward moving track. And it did this BEFORE the tech boom of the 90’s, which came in on the heels of the RTC, and took the economy off to heights never anticipated.

    If Nationalization was the ONLY option, then fine.

    But its not. Not when we haven’t even tried what worked before.

    Bring back the Resolution Trust Corp, or a similar entity and that will do the same thing as nationalizing the banks WITHOUT needing to nationalize the banks.


  35. rimhotep says:

    The american taliban: Today’s GOP (self-proclaimed, BTW). Who was the genius who “outed” them?


  36. WAYNEBRO says:

    Bring back the RESOLUTION TRUST CORPORATION and save our way of life!


  37. Levi the Oracle says:

    Funny how the wingnuts screamed about flip-flopping. Now we know what to call it when they do it.


  38. Rich H says:

    Keith,

    We supply resins and other material to manufacturers. After the stock market crashed we had no orders for about a month and a half. Then we picked up slightly. Now we’re back to about 12 containers of material a month. Not so bad, but just barely enough to keep our doors open.


  39. WaltTheMan says:

    What was bad thirty seconds ago is now good. He4’s flip-flopping like a crappie on the bottom of a row boat.


  40. The Republic of Stupidity says:

    Shorter Graham: Pay no attention to that man behind the curtain… I am the might Oz!


  41. hanshiro says:

    The republicans probably wouldn’t be so quick to offer advice if they were compelled, by congressional resolution, to preface their advice/opinions with the legitimate preamble: “The way you should fix our 8-year screwup, is….”


  42. WAYNEBRO says:

    Levi the Oracle Says:

    Funny how the wingnuts screamed about flip-flopping. Now we know what to call it when they do it.

    Well, flip flopping is based on an inaccurate assumption here.

    It presumes that Graham is following a call from the LEFT on nationalizing the banks.

    But last I checked, President Obama is still a democrat, and the leader of the democratic party and the country at the moment. And HE’S not calling for nationalization.

    Because he knows why Graham, Baker and others are calling for it.

    To get him to end capitalism on a democrats watch. So they can complete their portrait of him as a socialist.

    We’ve handled crisis like this before, and we didn’t need to nationalize the banking system. If we bring back the Resolution Trust Corporation, we will do everything that nationalizing the banks would do, WITHOUT nationalizing the banks.


  43. barfly says:

    WAYNEBRO:

    Y’know, we’re not that dim, that you need to keep repeating this.

    We understand the point, ok?


  44. BobbyG says:

    @WAYNEBRO -

    “If we bring back the Resolution Trust Corporation, we will do everything that nationalizing the banks would do, WITHOUT nationalizing the banks.”
    _______

    You might want to get past your own fixation with semantics. Per the Wiki.

    “The Resolution Trust Corporation (RTC) was a United States Government-owned asset management company charged with liquidating assets (primarily real estate-related assets, including mortgage loans) that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision, as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board. It was created by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), adopted in 1989. In 1995, its duties were transferred to the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation.”

    Call it “nationalization,” or not. BFD. “United States Government-owned asset management company” and all that.

    Calm down. No one — NO ONE — is talking about a permanent banking system takeover.


  45. DNFP says:

    “Don’t shit where you eat”


  46. WAYNEBRO says:

    BobbyG Says:

    Call it “nationalization,” or not. BFD. “United States Government-owned asset management company” and all that

    Clearly you don’t understand the difference.

    This is not a semantics game, no matter how much those of you who don’t understand the difference want to make it.

    And I don’t need a Wiki article on the RTC. I was a grown man in my 30’s back then and was well aware of the RTC and what it was.

    Here. Let me see if I can once more explain the difference to you, between nationalizing the banks, and the RTC.

    The RTC would ASSIST banks.

    The RTC would NOT be a branch of the govt. It is a corporation.

    And the government would own the RTC, NOT the BANKS.

    The difference is clear. Nationalization means the government OWNS THE BANKS.


  47. The Republic of Stupidity says:

    BobbyG Says:

    Calm down. No one — NO ONE — is talking about a permanent banking system takeover.
    ___________

    Except for hysterical wingnutters trying to cause even more panic…


  48. BobbyG says:

    @WAYNEBRO Says:
    BobbyG Says:

    Call it “nationalization,” or not. BFD. “United States Government-owned asset management company” and all that

    Clearly you don’t understand the difference.
    _______

    Oh, no, I don’t “understand.” LOL.

    Whatever, dude, You just go right on ahead. I’ll put my acumen up against yours any day.


  49. WAYNEBRO says:

    BobbyG Says:

    Calm down. No one — NO ONE — is talking about a permanent banking system takeover.

    That’s it. Try and paint me as a lunatic instead of understanding simple US history.

    We don’t NEED to nationalize the banks.

    Permanent, temporary or otherwise.

    Get it?

    The RESOLUTION TRUST CORPORATION is just another entity owned by the government to ASSIST the banks.

    It is not the government OWNING the banks.

    What do you think the FDIC is?

    Do you call that “nationalizing the banks”?

    Of course not. Because its not.

    Neither is the RTC.

    If you had to go to Wiki for an article on the RTC then clearly you don’t understand what it is and what it did.

    The RTC is a corporation that ASSISTS the banks with liquidation, asset redistribution, capital injection AND oversight, etc.

    It is a CORPORATION that will do for us EXACTLY what nationalization would do, WITHOUT nationalizing the banks.


  50. WAYNEBRO says:

    BobbyG Says:

    Whatever, dude, You just go right on ahead. I’ll put my acumen up against yours any day.

    Yea real smart. Speak in generalities and just dismiss me as some sort of hack, when you clearly don’t understand what the RTC is, or does.

    That’s why you went to WIKI, and you STILL Didn’t understand.

    As for your “acumen”, you’re here supporting the plans of Lindsey Graham and James Baker.

    What’s that say about your “acumen”?


  51. The Republic of Stupidity says:

    Hmmm…

    Pop corn… check…

    Cold beer… check…

    Comfy chair… check…

    Jes’ gonna sit back ‘n watch this one…


  52. WAYNEBRO says:

    The RTC is nothing like nationalizing the banks.

    It is a corporation just like the FDIC, FHLC, the RFC, etc.

    These are government owned entities that ASSIST banks.

    That’s a far cry from the government OWNING the banks.

    Here you are opposing President Obama, supporting Lindsey Graham and James Baker, and calling for a nationalizing of the banking system, even if its only temporary.

    The RTC is temporary too.

    And it doesn’t require nationalization.

    Something that is against our entire system of capitalization and something that would not only allow, but NECESSITATE the government monitoring every single nickel you spend and what you spend it on.

    They wouldn’t need to “go to the banks” and “ask for your records”.

    They’d have full access to them every minute of every day.

    Its wrong. It goes against what it means to be an American and if you can’t understand that then just look at the fact that its what LINDSEY GRAHAM and JAMES BAKER wants to do.

    If that doesn’t tell you something then I guess your acumen’s got the better of you.


  53. WAYNEBRO says:

    What’s funny is many people think these are “opinions”.

    They’re not.

    Its just a fact that a SEPARATE CORPORATION that ASSISTS banks, and the GOVERNMENT OWNING THE BANKS are two completely different things.

    How you can explain that to someone who doesn’t get it, I do not know.


  54. Keith says:

    Rich H,
    I guess I am thinking of the credit crunch caused by financial institutions collapsing and the general stock market decline as two different things and was thinking small businesses struggling was caused by the former. They could be intertwined.
    I guess I’m looking at stock market decline as a symptom of the problem and not the cause of the problem.


  55. BobbyG says:

    @WAYNEBRO

    Have at it. Enjoy. I’m done.


  56. WAYNEBRO says:

    BobbyG Says:

    @WAYNEBRO

    Have at it. Enjoy. I’m done.

    Clearly.

    But a minute ago you were putting your acumen up against mine, how’d you put it? Oh yea, ..any day.

    Guess just not this day, huh?


  57. WAYNEBRO says:

    Look, I’m not trying to start arguments and I’m not going to be goaded into a tit for tat insult match. I’m just not able to sit back and say “sure…the RTC nationalized the banks”.

    They didn’t.

    This isn’t a game of semantics.

    Its a question of doing what JAMES BAKER and LINDSEY GRAHAM want to do, or doing what WORKED BEFORE.

    And what worked before was the Resolution Trust Corporation assisting the banks with liquidation, redistribution, capital injection and oversight, etc.

    And if you want to call the RESOLUTION TRUST CORPORATION “nationalizing the banks”, then try putting that on a POLY SCI term paper some day, and see what grade you get.

    Sure its government INVOLVEMENT in the banks.

    But its not the government OWNING the banks.

    There’s a clear and distinct difference there.


  58. christopher wiwi says:

    Just more GOOPer(grand old obstructionist party),re-puke speak and it`s all HYPOCRISY.


  59. christopher wiwi says:

    The Republic of Stupidity Says:
    ——————————————————————————–

    Hmmm…

    Pop corn… check…

    Cold beer… check…

    Comfy chair… check…

    Jes’ gonna sit back ‘n watch this one…

    and i`ll roll up a big fatty because the republiscum Channel is the best media outlet today….


  60. WAYNEBRO says:

    christopher wiwi Says:

    and i`ll roll up a big fatty because the republiscum Channel is the best media outlet today….

    Well Chris I’m not sure but if you’re calling “me” the “republicscum” then clearly you’ve smoked one too many.

    Because I am supporting President Obama’s position.

    And the side that I am arguing against, is supporting Lindsey Graham and James Baker’s position.


  61. Game of Life says:

    repugs are so screwy and unnecessary. Prissy lindsey knows damn well the whole spending process is online. So what’s the problem missy? Don’t act like you are the first one to think of transparency, doughboy. nutty

    He wants to spend the money on a convention center, a for profit commercial building. ROADHOG!

    STFU

    repugs huummmph


  62. WAYNEBRO says:

    Resurrect the Resolution Trust Corp

    By NICHOLAS F. BRADY, EUGENE A. LUDWIG and PAUL A. VOLCKER

    We are in the midst of the worst financial turmoil since the Great Depression. Absent bold action, matters could well get worse.

    Neither the markets nor the ordinary diet of regulatory orders, bank examinations, rating downgrades and investigations can do the job. Extraordinary emergency actions by the Federal Reserve and the Treasury to date, while necessary, are also insufficient to resolve the crisis.

    Fannie Mae and Freddie Mac, the giants in the mortgage market, are overextended and now under new government protection. They are not in sufficiently robust shape to meet all the market’s needs.

    The fact is that the financial system needs basic, long-term reform, but right now the system is clogged with enormous amounts of toxic real-estate paper that will not repay according to its terms. This paper, in turn, is unable to support huge quantities of structured financial instruments, levered as much as 30 times.

    Until there is a new mechanism in place to remove this decaying tissue from the system, the infection will spread, confidence will deteriorate further, and we will have to live through the mother of all credit contractions. This contraction will undercut the financial system, and with it, the broader economy that so far has held up reasonably well.

    There is something we can do to resolve the problem. We should move decisively to create a new, temporary resolution mechanism. There are precedents — such as the Resolution Trust Corporation of the late 1980s and early 1990s, as well as the Home Owners Loan Corporation of the 1930s. This new governmental body would be able to buy up the troubled paper at fair market values, where possible keeping people in their homes and businesses operating. Like the RTC, this mechanism should have a limited life and be run by nonpartisan professional management.

    Such a stabilizing mechanism would accomplish four much-needed tasks:

    - First, by buying paper that otherwise is effectively not trading, it would help restore liquidity to the marketplace and help markets to function more fluidly again.

    - Second, by warehousing the troubled paper for a longer period than, for instance, the Fed’s discount window typically should or could, it would allow for a more orderly liquidation of this paper, and the chance for much of it to recover a portion of its value.

    - Third, by giving the agency the ability to manage mortgages with flexibility to keep people in their homes and businesses running, it should lessen the number of foreclosures. This, in turn, would help moderate the decline in real estate values and the deterioration of neighborhoods, thus supporting house prices that in fact lie at the heart of the crisis.

    - Fourth, where necessary, like the RTC of the 1980s, this new mechanism can assist the Federal Deposit Insurance Corporation in resolving sick institutions that are so clogged with the troubled paper they cannot continue as independent entities. However, we would hope that purchasing the mortgage-related paper will minimize the need to provide emergency, short-term assistance to solvent banking institutions.

    It is certainly the case that the new institution we are proposing will in the short run require serious money. That will involve a risk to the taxpayer; but the institution, administered by professionals, means that ultimate gains to the taxpayer are also possible.

    Moreover, a failure to act boldly in the fashion we are suggesting would cost the taxpayer and the country far more. The pathology of this crisis is that unless you get ahead of it and deal with it from strength, it devours the weakest link in the chain and then moves on to devour the next weakest link. A deteriorating financial system, diminished economic activity, loss of jobs and loss of revenues to the government is enormously costly. And the cost to our citizens’ well-being is incalculable.

    Crisis times require stern measures. America has done well in the past to face up to economic turmoil, take strong measures, and put our problems behind us. RTC-like mechanisms have worked well in past crises. Now is the time to take a similarly forceful step.

    The American economy still has enormous underlying strengths. What we need, and in part are proposing, is a road map to financial stability.

    Mr. Brady was U.S. Treasury secretary from 1988-1993. Mr. Ludwig was U.S. comptroller of the currency from 1993 to 1998. Mr. Volcker was chairman of the Federal Reserve from 1979-1987.

    - WALL STREET JOURNAL


  63. WAYNEBRO says:

    If you don’t believe me, then believe them.

    Believe our history.

    And if that still doesn’t convince you then consider this.

    George W Bush, rejected this plan.


  64. WAYNEBRO says:

    This is what was suggested to Mister Bush back then. It was even on the news that they were considering a vehicle like the RTC to inject capital and deal with failed institutions and assets, etc, and Bush rejected the idea.

    He said, “nahhhh, I’ll just give them the money. They’ll know what to do with it.”

    And we saw how that worked out.

    This plan will in contrast ensure proper direction and usage of federal funds and provides a time proven reasoned approach to dealing with failed institutions and their assets.

    And it does all that, WITHOUT the need for nationalizing the banks.

    Nationalizing the banks just might create a panic, and cause a run on the markets and a run on the banks, as many Americans will not stand for a federal banking system and will likely either pull their funds out and move them to foreign owned banks or stuff it under their mattresses.

    And Lindsey Graham and James Baker know this. And its what they want. Failure for President Obama. Remember the current right wing slogan, “We want him to fail”.

    And that’s why we must not let them do it.

    Fortunately President Obama sees this, and is holding firm, even in the face of critics on his own side accusing him of doing it for “purely political reasons”.


  65. wiley says:

    Guess it’s one thing to trust the government with 10,000 nuclear warheads, and another thing to trust them with a bank.


  66. WAYNEBRO says:

    wiley Says:

    Guess it’s one thing to trust the government with 10,000 nuclear warheads, and another thing to trust them with a bank

    Who said we trusted them with the warheads?

    Besides.

    How much do you want to bet me that you haven’t been in here decrying domestic spying on telephone calls and bank accounts?

    I know most people in here were. I was. Everyone was.

    Now suddenly because we have a democrat in office its suddenly okey dokey with you?


  67. WAYNEBRO says:

    I blame this on our school system. Its the removal of social studies and political science in our high school curriculum’s that has failed us.

    If people were required to study this stuff in school, then everyone would remember the Resolution Trust Corporation, and what it was, and what it did, and how it worked, and no one would be saying “the only option is to nationalize the banks!”.

    Because its nonsense.

    The Resolution Trust Corporation is a proven method for dealing with this sort of crisis.

    But everyone wants to reinvent the wheel.

    And all I can assume is its because none of them know that we already invented one.


  68. Game of Life says:

    OT –

    Wow. Steven Steiner (some big mouth yuck) was on jerry rivers “show” and just stated George Soros funded the legalization of maryjane.

    Is the mj story true?


  69. stabbedbygrace says:

    Many of you folks on here are a constant source of entertainment and laughter. It tickles me to come on here and read the angry, ultra-partisan comments. It might be different if there were even one person commenting that had a differing opinion upon which you could vent your seething hatred, but come on folks…we won! Obama is in the White House and we have control of both branches of the legislature. Posters like The Republicans Hate Facts make us an easy target for any intelligent person with a differing opinion. Here we are on our own uber-liberal website spewing hatred and pathological anger at…………no one? I prefer reading the few postings that actually have something to say and don’t just spout off with no hint of intelligence.


  70. Ape-Man says:

    Meet the Press was once entertaining for conservatives but it’s really completely of no use now. Things have changed but MTP has not.


  71. Game of Life says:

    wiley Says:

    Guess it’s one thing to trust the government with 10,000 nuclear warheads, and another thing to trust them with a bank.

    Good F-n point, mate. That putting it in prospective.

    repugs’ knew their financial meltdown was coming when, let me word this straight, when oil was/is traded using others currency rates instead of US rates. It went something like that. The name began with a “B.” I’m drawing a blank right now. Damn now I’m going to think about it all day. :)


  72. Game of Life says:

    WAYNEBRO Says:

    Now suddenly because we have a democrat in office its suddenly okey dokey with you?

    For one thing we know for a fact repugs did illegal spied on Everybody, which can include reporters, journalist, hospitals, Quakers, bread crumbs and so on. The so on point is my worry.

    What is President Obama’s disposition?


  73. WAYNEBRO says:

    stabbedbygrace Says:

    Many of you folks on here are a constant source of entertainment and laughter. It tickles me to come on here and read the angry, ultra-partisan comments. It might be different if there were even one person commenting that had a differing opinion upon which you could vent your seething hatred, but come on folks…we won! Obama is in the White House and we have control of both branches of the legislature. Posters like The Republicans Hate Facts make us an easy target for any intelligent person with a differing opinion. Here we are on our own uber-liberal website spewing hatred and pathological anger at…………no one? I prefer reading the few postings that actually have something to say and don’t just spout off with no hint of intelligence.

    You make some good points. We won the elections with the help of these people though so we owe them our respect, but you are correct in the issues with partisanship simply blinding us.

    Some people on the left are calling for nationalization, but the loudest voices are coming from the right. And its clear why. They want the President to fail. They’re trying to “buffalo” him into doing something overreaching and foolish so they can win back some seats and the White House.

    In fact the “concern trolls” are out in force, calling for nationalization so as to convince the left to pressure the President and get him to cave.

    Fortunately, President Obama appears to be smarter than they are, and like Hoover, FDR, Reagan, and Bush 1, he’s telling them to stick it. President Obama knows we’ve been here before. He’s not just making speeches.

    We’ve been here before and each time we got out by creating a professional federally owned corporation to manage the liquidation of failed institutions and the redistribution of assets, as well as injection and oversight of capital.

    So if we’ve been here before, and we know the way out, then why on earth are we talking nonsense about nationalizing the banks?

    The Presidents been in office for less than two lousy months and we’re already ignoring his ideas and going with Lindsey GRAHAM?

    James BAKER???

    I think we owe this President a little more of our support than that.


  74. WAYNEBRO says:

    #
    #
    Game of Life Says:

    WAYNEBRO Says:

    Now suddenly because we have a democrat in office its suddenly okey dokey with you?

    For one thing we know for a fact repugs did illegal spied on Everybody, which can include reporters, journalist, hospitals, Quakers, bread crumbs and so on.

    Right. And that bothered you right?

    So now you want to GIVE them FULL access?

    Don’t you understand that what we are talking means they won’t HAVE TO SPY.

    You don’t have to “SPY” on that which you OWN.


  75. youtube says:

    stabbedbygrace Says
    Posters like The Republicans Hate Facts make us an easy target for any intelligent person with a differing opinion. Here we are on our own uber-liberal website spewing hatred and pathological anger at…………no one? I prefer reading the few postings that actually have something to say and don’t just spout off with no hint of intelligence.

    You goot hat right, that what he does always


  76. MCMetal says:

    Lindsey Graham and David Gregory ………..

    The show should be renamed “Meet the Mess”


  77. Game of Life says:

    MTP is only better because they have repugs looking like total asses. HAHAHAHAHA
    davy is wishy-washy and a little strange.

    plucked-eyebrows lindsey is talking about not raising taxes on the rich, he/repugs disguise his lie by calling it “not raising taxes” as if everybody tax will be raised.

    repugs are complaining that President Obama’s policies aren’t working. GTFOOH


  78. WAYNEBRO says:

    Game of Life Says:

    repugs are complaining that President Obama’s policies aren’t working. GTFOOH

    And so are you.

    President Obama’s policy is opposed to nationalizing the banks.

    You’re saying that policy isn’t working.


  79. Game of Life says:

    WAYNEBRO

    I’m a little cynical, I know.

    I have a theory. Answer this: What if our government wants to know the full extent of chimpy’s illegal spying and God know what illegal activities. Our brand new government needs to following the lines. If spying becomes illegal how would our government get the goods on repug’s illegal activities?

    But you haven’t listed your source(s)/link(s) or President Obama’s disposition.

    Before you get all huffy, wait more than a week or two before you start judge President Obama’s actions.


  80. WAYNEBRO says:

    Game of Life Says:

    WAYNEBRO

    I’m a little cynical, I know.

    I have a theory. Answer this: What if our government wants to know the full extent of chimpy’s illegal spying and God know what illegal activities. Our brand new government needs to following the lines. If spying becomes illegal how would our government get the goods on repug’s illegal activities?

    So you’re saying you’re against domestic spying, ….but only when its done to democrats?


  81. Game of Life says:

    MCMetal Says:

    Lindsey Graham and David Gregory ………..

    The show should be renamed “Meet the Mess”

    THHHHAAANNNKKK YYYYOOOOUUUU!


  82. WAYNEBRO says:

    Game of Life Says:

    But you haven’t listed your source(s)/link(s) or President Obama’s disposition.

    Try the evening news.


  83. WAYNEBRO says:

    Better yet, try your scroll button, and check the March 7th story here on TP. It was posted at 12:04 PM.

    Here’s a quote from it.

    It appears that the Obama administration has thus far resisted nationalizing the banks


  84. WAYNEBRO says:

    Its common knowledge.

    Just like the fact that we don’t need to nationalize the banks in order to deal with liquidation and asset management, as well as oversight for injection of capital. We can do it the way we did it before.

    With a vehicle like the Resolution Trust Corporation.

    Why is that concept so difficult?


  85. Game of Life says:

    Giving money away will never work…Working and earning money works.

    Look at stinky newt talking shit about how repugs would fix their mess. Funny thing they are trying to blame the dems.

    mort zuckerman: Is saying President Obama is popular but lacks credibility… what a hot crock of leftover bullshyte. So now we need another poll to prove to the dull repugs that we believe President Obama’s has credibility.

    After zuckerman started the “credibility” bs, newt started chiming in like a old dementia redundant fart.

    Get use to it! President Obama is in a win/win sitution because he represents US.


  86. Game of Life says:

    Damn, newt/repugs don’t understand Mr. Gibbs rather cool joke. What idiots repugs are. The joke was fun-nee as hell, repugs. Why are you, repugs acting like you don’t understand the joke?

    your repug club is a joke and repugs, YOU, crowned limpdic KING! Hell, limpydic put steely damn in his place too.
    You are making your club sillier. Keep it up. limpydic is not our leader he’s your sick leader.

    Mr. Gibbs joke is better than chimpy’s demonstrating, mocking peeping under the podium while smirking and asking his sickly questions, “Are they under here? Could they be here?” his ass were referring to his lie about “WMD” in Iraq. Afterward ignorant repugs enjoyed a really good laugh and a really good meal while our finest are sent to fight chimpy’s war.

    AAAWWWWW STFU repugs…f-n crybabies. Grown the F up.

    Not for one minute did I think Mr. Gibbs let alone President Obama was “targeting” you. Mr. Gibbs mentioned your useless name because repugs were/are kissing limpydic’s big old white infected ass. THAT’S ALL it was, no more, no less. NoBoDy wants to debate your stupid butt dizzy crazy butt. Seek help limpydic.
    Don’t get the joke twisted. Maybe your hearing is going out again?

    newt named your stupid ass leaders: mooseyak, boody, cantor, HAHAHAHAHA What the differece between limpydic and your leaders? NOTHING.

    You will be gone with your lying, racist ratings.

    Boycott limpydic advertisers:


  87. Game of Life says:

    WAYNEBRO Says:

    Game of Life Says:

    WAYNEBRO

    I’m a little cynical, I know.

    I have a theory. Answer this: What if our government wants to know the full extent of chimpy’s illegal spying and God know what illegal activities. Our brand new government needs to following the lines. If spying becomes illegal how would our government get the goods on repug’s illegal activities?

    So you’re saying you’re against domestic spying, ….but only when its done to democrats?

    I’m for following all the links, of course. You don’t know what chimpy left behind.


  88. WAYNEBRO says:

    Game of Life Says:

    I’m for following all the links, of course. You don’t know what chimpy left behind
    .

    You just got through defending domestic spying on republicans.

    Game of Life Says:

    If spying becomes illegal how would our government get the goods on repug’s illegal activities?

    Now you’re saying “following the links”.

    Backpedaling so soon?


  89. Razor_Boy says:

    David Gregory let Newt. get by with saying that Bush’s approval was the same as Obama’s at this point in their presidency- 58%.
    Bullsh:t; Obama is in the upper 60’s, and Bush never rose above 45% until after 9/11.
    Don’t ya’ just love that liberal media?


  90. Perry logan says:

    I think I’ve figured out why Republicans are so wacky.

    The portion of the human brain that governs self-criticism is missing or inactive in them. Sen. Graham can see someone else’s earmarks, but he literally can’t see his own. He probably doesn’t know his party is the laughing-stock of the known universe.

    Republicans can’t perceive their own screw-ups. It’s a neurological disability. They should stay out of government.

    The Great Republican Depression


  91. anafikir.blogcu.com says:

    Graham said on the show that Obama is raising taxes in the middle of a recession. This is not true and it has been debunked several times. About two years from now, taxes will be raised. Yet neither David Gregory nor Sen. Schumer said anything. Why are Republicans ALWAYS allowed to tell lies on such shows?


  92. SnoBird says:

    In an eloquent example of of WORD SPEAK from the GOP’s finest, Senator Graham:

    “I voted to take all earmarks out, but I will come back in the new process and put that back in,” Graham insisted, saying that the convention center is important to stimulate the local economy. “I think I should have the ability as a United States senator to direct money back to my state as long as it’s transparent and it makes sense.”

    And a giant hell yeah from the grandiose senator from Florida, “Yes! Fry all that pork, but I will come back and put back in my cat thigh for a gigantic water park in my district . . . It’s transparent (water) and makes sense.”


  93. SnoBird says:

    And not to be out done, the esteemed senator for Arkansas bleets: Kill that pork, but next round, what I as a Senator for the Great State of Arkansas require for my citizens is a lunar eco-pod . . . yes, every “sou-wee” just ain’t complete without a transparent eco-pod, hell, we can deep fry turkeys and every lil’ razor back can learn to spell “moon rock.”


  94. KayInMaine says:

    Earmarks are fine for republiCONS. Idiots.


  95. barfly says:

    Waynebro:

    Yea real smart. Speak in generalities and just dismiss me as some sort of hack, when you clearly don’t understand what the RTC is, or does.

    You’re doing a good job of that already. Please find a different tune, your Resolution Trust Blues is getting stale, with so many encores.


  96. dae says:

    Sort of like destroying the village in order to save it.


  97. Nevar says:

    Graham insisted, saying that the convention center is important to stimulate the local economy.

    Just what the village needs, another convention center….
    so sad the roads and bridges are in such disrepair no one can get there…


  98. angels81 says:

    Let me guess, the convention center will be called, “The Lindsey Graham Convention Center”.


  99. Marie says:

    The silly earmarks make the news and late night comedy, but actually many earmarks are not so foolish when you look at them.
    Repugs like to demonize earmarks as all foolishness and wasteful, but that is disingenuous.
    Oh wait – when talking about repugs, the term disingenuous is redundant.


  100. WAYNEBRO says:

    barfly Says:

    Waynebro:

    Yea real smart. Speak in generalities and just dismiss me as some sort of hack, when you clearly don’t understand what the RTC is, or does.

    You’re doing a good job of that already. Please find a different tune, your Resolution Trust Blues is getting stale, with so many encores.

    First of all its not a “tune”.

    Its fact. History. And the fact that its “getting old” to you demonstrates your ignorance of it. Only someone who knew nothing about it would say that. History does not change, and it doesn’t “get old”. Its just history.

    And the Resolution Trust Corporation, or a similar entity is how we do what nationalizing the banks would do WITHOUT nationalizing the banks.

    Its US economic history, just like the FDIC, or the RFC.

    The problem is, we have too many people now like you, who are not only ignorant about our history, but apathetic to it as well.


  101. WAYNEBRO says:

    We have all these “voices” and no substance behind them. Just empty partisan rhetoric. That’s what gets the “recommends”.

    But few want to actually talk about solutions and specifics. Most just want to rant and cheer on partisan group rhetoric. Its the partisanship that’s killing us. We’re so busy “troll hunting” and tossing one line barbs back and forth that real discussions and answers get drowned out. Have I posted on this a lot? Sure. Because no one else is. Everyone’s crying for nationalization when no one really understands what the hell they’re asking for and worse, without understanding what has WORKED BEFORE.

    Its like we’re all stuck on stupid. Partisan stupid. And we won’t let the facts or reason, get in its way.



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