Wachovia lends the RNCC $8 million!

[Pico and ME]

Oh! The unmitigated gall!

The bank that just recently called on the government for a bailout is bailing out the Republicans.

Ok. No real link yet, I'm only finding this in lefty blogs so far, but supposedly this info comes from Roll Call, which requires a paid subscription.

If this is true its just absolutely amazing and the best ammunition Obama could ask for.

LINK

[classicman]

Originally Posted by Pico and ME

If this is true its just absolutely amazing and the best ammunition Obama could ask for.

Why? This bailout was as much, if not more, a democratic plan.

[Pico and ME]

lol

[classicman]

go water your garden

[Pico and ME]

lol

[lookout123]

You do understand that the bank was bailed out by both parties so that it might stay in business, right? a very large part of that business is loaning money to entities capable of timely repayment at an acceptable rate of return. One of the two parties that <strike>oppress<out> serve us seems a reasonably safe investment for a bank to make. Yeah, I'd say the same if it was the DNC as well.

[classicman]

Originally Posted by lookout123

You do understand that the bank was bailed out by both parties so that it might stay in business, right? a very large part of that business is loaning money to entities capable of timely repayment at an acceptable rate of return. One of the two parties that <strike>oppress<out> serve us seems a reasonably safe investment for a bank to make. Yeah, I'd say the same if it was the DNC as well.

I understand it completely. I'm just waiting for the other shoe to drop. This is a perfect example of where the $115,000,000,000 in pork is gonna go. It totally pisses me off. The pork should have never been allowed in the first place - this is complete and utter bullshit. But if anyone thinks that its only going to republicans you're trippin.

[Pico and ME]

It just hilarious. Yes, it may be business as usual, but please...you cant deny how it looks to the layman.

[classicman]

It looks like we the taxpayers got royally fucked again. Whats your point?

[tw]

Originally Posted by classicman

Why? This bailout was as much, if not more, a democratic plan.

The support was 60/40 from the Democrats and 40/60 from the Congressional Republicans. Also 100% support from the Republican administration.

It is poltics to label it Democratic or Republican especially when the reasons to vote for or against it were so complex - and then it was chock full of $100million in pork for both parties.

The only people who did not vote for it were the moderates who disparage both Democrats and Republicans. Better is to describe it as an anti-independent plan and pro-rich business school trained management plan.

What was it really? Just another way for America to sell or mortgage itself to foreign investors.

[tw]

Originally Posted by Pico and ME

The bank that just recently called on the government for a bailout is bailing out the Republicans.

Or the Republicans took out a loan with an obscene interest rate. Then Wachovia could bundle that loan in a tranche, then sell the tranche as a security for an obscene profit. Just the Republican party coming to the aid of Wachovia.

Anybody can make any conclusions when the numbers are not provided. BTW, this is also why Limbaugh routinely avoids facts such as the numbers. Then he can promote any political agenda.

[classicman]

Originally Posted by tw

The support was 60/40 from the Democrats and 40/60 from the Congressional Republicans. Also 100% support from the Republican administration.

Why so much pork? Did they have to buy that many Democratic and Republican votes? For what reason? Perhaps because the plan does not address the fundamental issues which caused the problem in the first place. Perhaps because this is only a band aid and they know this is only the first one. There are rumblings already of another bailout. Why? Why did this bill which goes against that which many of the top economists recommendations pass at all?

Funny how the congress has an approval rating less than that of the "worst president in history" Why is that? Because they come up with a solution which does not really address the problem. Who is in charge of overseeing this? Anyone? Anyone? Why is he still employed?

[tw]

Originally Posted by classicman

Why so much pork? Did they have to buy that many Democratic and Republican votes?

Who is this 'they' who is buying Democratic and Republican votes? Let's see. There are extremist Democrats and Republicans who only work for their extremist agendas. And then there are the independents who work for America. I guess you are accusing independents of buying Democrat and Republican votes.

A $700billion bailout is a joint venture of both parties with massive dissention in both parties. Nobody likes the only existing solution. So who is this 'they'?

Meanwhile, where is your 'better idea'?

[classicman]

Don't play coy tw it isn't becoming and I'm not playing.

[Pico and ME]

Originally Posted by classicman

It looks like we the taxpayers got royally fucked again. Whats your point?

The system is totally jacked. It would look the same, I suppose, if the DRCC got the loan, but considering how the Republicans are unofficially getting the blame (I know, I know - thats why I said 'unofficially') for this financial crisis, its even more unseemly. Especially when you consider other organizations are being frozen out of getting loans right now.