We Found the W.M.D.— subprime mortgages

[ceejay]

By THOMAS L. FRIEDMAN http://www.nytimes.com/2008/11/23/opinion/23friedman.html?_r=1&ref=opinionIf I had my druthers right now we would convene a special session of Congress, amend the Constitution and move up the inauguration from Jan. 20 to Thanksgiving Day. Forget the inaugural balls; we can’t afford them. Forget the grandstands; we don’t need them. Just get me a Supreme Court justice and a Bible, and let’s swear in Barack Obama right now — by choice — with the same haste we did — by necessity — with L.B.J. in the back of Air Force One.

Unfortunately, it would take too long for a majority of states to ratify such an amendment. What we can do now, though, said the Congressional scholar Norman Ornstein, co-author of “The Broken Branch,” is “ask President Bush to appoint Tim Geithner, Barack Obama’s proposed Treasury secretary, immediately.” Make him a Bush appointment and let him take over next week. This is not a knock on Hank Paulson. It’s simply that we can’t afford two months of transition where the markets don’t know who is in charge or where we’re going. At the same time, Congress should remain in permanent session to pass any needed legislation.

This is the real “Code Red.” As one banker remarked to me: “We finally found the W.M.D.” They were buried in our own backyard — subprime mortgages and all the derivatives attached to them.

Yet, it is obvious that President Bush can’t mobilize the tools to defuse them
What ails us right now is as much a loss of confidence — in our financial system and our leadership — as anything else. very well put.....

[boxcar]

By THOMAS L. FRIEDMAN http://www.nytimes.com/2008/11/23/opinion/23friedman.html?_r=1&ref=opinion very well put.....

That N.Y. Slimes writer has really been bitten by the Messiah Snake, hasn't he?
:lol: :lol: :lol:

Boxcar

[ceejay]

so you think Pres. Bush is leading

[robert99]

in 1979. Joe Strummer (the prophet) had said: "We felt that we were struggling about to slip down a slope or something, grasping with our fingernails. And there was no one there to help us."

[JustRalph]

he is doing exactly as he pleases. Why should he change now. He is supposed to let Obama make appointments early? The market will sit and quiver for another 2 months and only then can Obama take over. Bush is going to leave him with the worst if he can. He is also going sit back and laugh at those journalist cheerleaders who are all calling for him to do something. You know, the same guys who have hated on him for 8 years? I am sure Bush reads these guys and laughs.............

[wonatthewire1]

he is doing exactly as he pleases. Why should he change now. He is supposed to let Obama make appointments early? The market will sit and quiver for another 2 months and only then can Obama take over. Bush is going to leave him with the worst if he can. He is also going sit back and laugh at those journalist cheerleaders who are all calling for him to do something. You know, the same guys who have hated on him for 8 years? I am sure Bush reads these guys and laughs.............


Laughing?

The guy has aged 20 years in the last 2 - and can't wait to get out of town.

January 20th is the best thing to happen for this guy in 5 years - the stress hasn't worn well...

[lamboguy]

good one, bush want's you to blow up whatever is left of your 401k. but its time to move on. bush has less than 2 months to go now. i am not predicting a complete turn around after he is gone, even god couldn't do that for you, but i think we will get a step in the right direction. i hope so any way.

[ceejay]

in 1979. Joe Strummer (the prophet) had said: "We felt that we were struggling about to slip down a slope or something, grasping with our fingernails. And there was no one there to help us."
Joe the prophet like Joe the plumber ;)

[Snag]

good one, bush want's you to blow up whatever is left of your 401k. but its time to move on. bush has less than 2 months to go now. i am not predicting a complete turn around after he is gone, even god couldn't do that for you, but i think we will get a step in the right direction. i hope so any way.

The problem is that your "hope" and a $5 bill will still only buy a Starbucks Coffee.

Saying you want to do something and paying for it a two different things. BO still has not said how he plans to pay for anything. Once we see the plan, then we can have some hope that it works.

[boxcar]

so you think Pres. Bush is leading

I think someone should call 911 for that Time's writer before it's too late.

Boxcar

[HUSKER55]

You know what would be a real bite? Suppose GW were to initiate a plan and in 60 days this crisis is over. That girl on fox the other night said he is negotiating a plan to leave iraq in 2011. If he signs that Obama is toast on that score. That means he will have to engage us in another conflict somewhere.

Gw is leaving office and the end of Iraq is in sight. Are you guys rally going to say this is due to keen negotiating skills?

Now If GW solves this financial mess in 60 days I say shoot every damn one of them bastards and make them give back all the money plus interest and penalties.

It is like in Daves Video on another thread. There is a word for that crap and it is "traitor".

Upon reflection, hang them all because bullits costs money,...although at this stage of the game that point is mute.

It is like in the movie "True Grit". Hang 'em or shoot 'em, which will it be?