How about

Privatize Profits, Socialize Losses

conservativism as practiced today.  Corporate crony "capitalism" means TONS of welfare for rich corporations, minimal or no welfare for individuals. What a lovely philosophy...not.

McCain is a impressive man.  Hats off to him.

So is Barack.  

For all the negative things heard about each one, you have to know that it takes a lot to get to where they both are.

I just know who I want to be president.

He blew it by arguing that he's not the elitist.  Jackass.

...Check this out (reported by Radio talk show host Ed Schultz):

Capitol Hill sources are telling me that senior McCain people are more than concerned about Palin. The campaign has held a mock debate and a mock press conference; both are being described as "disastrous." One senior McCain aide was quoted as saying, "What are we going to do?" The McCain people want to move this first debate to some later, undetermined date, possibly never. People on the inside are saying the Alaska Governor is "clueless."

Krugman said tonight she's like a fresnhman in college who hasn't read any of the material and just plugs words in.  He called her Couric interview gibberish.  Indeed.  

Kathleen Parker column saying Palin should withdraw was a real stunner.  Not because of what was said but for how long it took for someone to say it.  Sarah Palin is the dimmest light bulb ever to run for either of the highest offices.  She makes Dan Quayle and GW Bush look brilliant.  This is a shameful moment in our history.  We thought GW Bush and Dick Cheney were as bad as it gets.  Now we know it could be even worse!  God help us.

I hope they better explain the magnitude of this crisis to the American public.  I understand that most people know zero about finance much less corporate finance.  So when the news says that the commercial paper market stopped last week,  I react with: "MY GOD!" And the most of the American public reacts with: "What's commercial paper?"

I have had some long comments on here about the crisis.  But I still don't think people appreciate the magnitude.  And that is just because people don't understand how financial markets operate on a daily basis.  But normally corporations don't use their bank lines of credit to finance the short-term gap in cash flow.  Some days you have big expenses out the door, and some days you are flush with cash from customer receipts.  But rarely does every day end with a cash position that is just perfectly in balance.  That's where commercial paper comes in.  It's boring short term financing.  But it has become big news and that is scary.  The commercial paper market affects you directly.

The other thing that is big news is that the Reserve Primary Fund, a money market fund, broke the buck.  All money market funds have a constant dollar value.  They just pay interest, they (should) never go above or below one dollar.  If they do go below a dollar, that is an "Oh Shit!" moment.  And it sent all money market funds into a panic.  Not to mention investors bailed in a huge number.

And last but not least, banks don't normally use the Discount Window at their regional federal reserve bank.  they normally lend to one another.  Now everyone has taken crazy pills and they are not lending to each other and instead going to the Fed.  Making the Fed the intermediary in lending between financial institution which was never the design of the Discount Window.

This is why Bernanke and Paulson are sweating bullets.  And their concern should be all of our concern.  Because this is serious.

very rewarding or very damaging to Obama. McCain probably won't get anything out of this either way. I worry but if Obama drops two points in polls then he is technically three ahead still in VA and to me that's a win in November. I'd rather he knock it out of the park.