Writing at Bloomberg News, economic analyst Kevin Hassett unravels the story behind the recent financial meltdown (H/T Rossputin). An opportunity to avert the crisis came in 2005 with the introduction of legislation to provide a "world-class regulator" of government-sponsored mortgage loan institutions Fannie Mae and Freddie Mac. Then-Federal Reserve Chairman Alan Greenspan noted that failure to address the problem was "placing the total financial system of the future at a substantial risk.'" Here's the key passage from Hassett's article (though you should really read the whole thing - it's not terribly long):If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage … [Read more...]
In Swing State Colorado, Obama’s “don’t have the votes in Congress” Resonates
Remember a couple weeks ago, Barack Obama's infamous response to "rumors" that he plans "to take away your guns." The junior Illinois Senator said: "I believe in the Second Amendment... you have nothing to fear from an Obama administration... And by the way, here’s another thing you’ve got to understand. Even if I wanted to take it away, I couldn’t get it done. I don’t have the votes in Congress." As ABC News blogger Jake Tapper points out:That "I don't have the votes in Congress" line has ricocheted around the country… Let's take an extreme hypothetical to make a point. Can you imagine a candidate saying something egregious as: "Why, of course, I'm against legalizing the international child kidnapping trade. And by the way, … [Read more...]
Clearing Up the Facts about Sarah Palin’s Record (for Slow-Learning Commenters)
Since I have several commenters here who insist upon trafficking in rumor and innuendo about Republican vice-presidential nominee Sarah Palin, I feel impelled to post a couple useful links: - FactCheck.org: "Sliming Palin" - Pajamas Media: "Separating Palin Fact from Palin Fiction" And yes, I know that Sarah Palin didn't always oppose the "Bridge to Nowhere" and did accept earmarked federal funds years ago as Wasilla mayor, though she ended up strongly (and has remained) on the right side of the issue. Alaskans have taken for granted that Palin is responsible for killing the "Bridge to "Nowhere" (until very recently, even the Alaska Democratic Party even acknowledged as much on their website). Besides, do Barack Obama and Joe … [Read more...]
Following the RNC, McCain-Palin Ticket Surging Beyond Expectations
What's that sound I hear? A bounce for McCain-Palin from the Republican National Convention that exceeded my expectations (H/T Rocky Mountain Right). A 10-point lead among likely voters ... seriously? At this point, it's an outlier, but the trend is undeniable. The Republican ticket leads in the Real Clear Politics average (which includes McCain's 1-point Rasmussen edge and 3-point Gallup Tracking Poll lead but not his 4-point tilt from Zogby) for the first time in about six months. There's a lot of campaigning left to do, but John McCain is in significantly better shape at this point than almost anyone would have forecast him doing. As I see it, the Presidential contest has moved from "Obama's race to lose" to "a toss-up." I'll take … [Read more...]
Sarah Palin Really Captures the Attention of the Colorado Blogosphere
I must say I'm glad I initially had the wrong information about who John McCain's running mate would be. Sarah Palin was the best pick. What's everyone else saying? Well, it's rare to see such unanimous sentiment asserted. Here goes: Steven, the New Conservative, who long has been championing Palin to be McCain's running mate, now says her selection was a "bad idea" ... for the Left Michael at Best Destiny says it's brilliant political Jiu-Jitsu Bob Agard calls the selection of the Alaska Governor "sheer brilliance" Jim at Thinking Right says "Outstanding!" Kenneth Davenport, writing at Backbone America, asserts that the choice is "a political masterstroke" Rocky Mountain Right calls Sarah Palin "an excellent choice" The Denver … [Read more...]
Let Joe Biden Speak for Himself
Joe Biden, Barack Obama's vice-presidential nominee, can speak for himself. First, a video put together by Rocky Mountain Right: Second, Joe Biden talking about Barack Obama, via The Next Right: I need to pinch myself again. Obama really picked Biden - er, Cliff Clavin? … [Read more...]
Seriously … Joe Biden?
Update: Another Colorado blogger added to the list below Barack Obama picked Joe Biden as his running mate ... seriously? When I first heard the news late last night, it sounded too good to be true. My first reaction was that Obama must have made the pick from an insecurity about Obama's personal and political weaknesses. Example? There's no way Biden's long-winded, incoherent ramblings could upstage the Obamessiah's cultish appeal at this week's Democratic National Convention. Beyond the DNC, what does Barack Obama have to look forward to in having Joe Biden as a running mate? What do we really know about Biden? Here's a quick rundown from Colorado bloggers: … [Read more...]
Sneak Peek at the DNC Podium: Introducing … ObamaTron!
The Denver Post this morning gives a sneak peek of the Democratic National Convention podium inside the Pepsi Center (H/T Complete Colorado). My first reactions to what the podium looks like: An acid trip back to the 1970s (can you imagine Jimmy Carter giving a speech there opening night)? The set of a cheesy Fox TV reality show (Bill Clinton might just fit in onstage)? ... Or how about the movie Tron? Whatever it is, the podium may be another piece of the poor planning that may threaten a Barack Obama post-Convention bounce. Or maybe he can just get bounce from a Lightbike ride... The DNC craziness has just barely begun. Keep up with coverage you won't find anywhere else at the Peoples Press Collective. … [Read more...]
Barack Obama Needs a DNC Bounce, But Poor Planning May Interfere
Barack Obama really, really, really needs a bounce from the Democratic National Convention. First, nationally, as political guru Michael Barone points out:Realclearpolitics.com yesterday had John McCain ahead of Barack Obama by 274 to 264 electoral votes, counting leaners. RCP has Obama carrying just two Bush '04 states, Iowa and New Mexico, with 12 electoral votes. McCain's lead in two other Bush '04 states, Virginia and Colorado, with 20 electoral votes is microscopic, but then so is Obama's lead in New Hampshire, with four electoral votes. Showcasing Jimmy Carter on the opening night of the DNC is not a good way to separate Barack Obama from the obvious comparison with the malaise president or to generate a national bounce. And … [Read more...]
Union Members and Fee Payers Foot Bill for Leaders’ DNC Invesco Suites
From Bloomberg.com (H/T Mike Antonucci):Seven unions, including the American Federation of Teachers and the National Education Association, have stepped in to help pay for the Democratic National Convention in Denver after the host committee announced in June it was $10 million short of its fundraising goals. The host committee, as a private organization, can accept unlimited corporate, union and individual contributions. And while presumptive Democratic nominee Barack Obama and the Democratic National Committee are refusing contributions from registered lobbyists, the ban doesn't apply to the convention. Mike Antonucci also cites a Los Angeles Times piece that indicates donors can get "stadium skyboxes" to watch the Obamessiah's big … [Read more...]
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