Wading Through The All-American Hype in Search of Truth

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9/29/08 UPDATE: CNN:Bailout plan rejected
House leaders scramble for support for controversial Wall Street plan.

NY Times: House Rejects Bailout Package, 228-205; Stocks Plunge By CARL HULSE and DAVID M. HERSZENHORN
Published: September 29, 2008

UPDATE: New York Times: Bailout Talks to Resume After Impasse

My favorite cartoon of the week comes from the Christian Science Monitor Vote Blog:
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The post is titled "McCain cancels Letterman. Letterman rips McCain"
By Jimmy Orr | 09.25.08

"It’s one thing to irritate your opponent. It’s another to irritate a newsperson. But when you irritate the guy who’s made a living out of making people laugh for more than 26 years, any criticism may pack more of a punch.....So when John McCain cancelled on Letterman - at the last minute - you could hardly expect that the comic would take it easy on him. He didn’t....First, he replaced McCain with what some of the Republican’s campaign might consider the anti-Christ - Keith Olbermann. That was after, however, his opening monologue which was, for McCain supporters, brutal."

So, I think this was a dumb move - to say he was getting on a plane to save the world like Captain America, only in truth he was doing an interview with Katie Couric, who is with the same network - CBS.

So, this is just but one more oddity with Election 08, and I have to tell you, I am sick of the commercials and the rhetoric. I am having a hard time discerning fact from fiction with both political parties. I hear spin doctors....what I don't hear enough of are the candidates - in their own words unscripted.

And then there is the other problems I have with the election season along with the U.S. economic woes: Does either candidate have a viable plan? Does either candidate have the knowledge base to give me, the Average American, some degree of comfort?

And "calling off the election" because the U.S. is in crisis. Is that a distraction tactic? Seriously? We can't just put the economy in time out and stand it in the corner facing the wall, life goes on...including the campaigns.

The current economic situation is a bi-partisan mess, and as a voter, my main concern is honestly that NEITHER candidate has the expertise to deal with it. I feel the largest mistake that people make in this situation is blaming one political party over the other when both have a degree of culpability. Both major parties need to own their part in it.

And I must admit this whole thing smacks of free market profits and socialized losses. Why should I, an American taxpayer, pay for someone else's poor judgement and unpaid bills? Are they paying mine? No. I pay my own.

The housing bubble bursting and the ensuing credit markets mess also has some other players that no one is talking about: real estate professionals and mortgage brokers. What of those fine folk who upsold your neighbors into a home they really couldn't afford? What of those fine folk who would sell their mothers to close a deal? What accountability do all these people have with getting people in over their heads financially?

The other thing I love are the fairy tails being spun that this hasn't affected the greater Philadelphia region and the Main Line. It has. Only no one wants to talk about it. Foreclosures and defaults on mortgages and credit cards and home equity lines of credit are happening all over. We don't live in a bubble here in Shangrila. Get real.

This economic situation is very real, and those who came through the depression are shaking their heads. We are at the very least, in a darn nasty recession. The rest of it remains to unfold as Washington DC chases it's tail some more and wastes more time pointing fingers.

As a voter and an American citizen, I would just love it if politicians would cut to the chase and tell it like it is...like it really is. And those fine folk in Washington who represent us? They had best not come home for recess without having some safeguards in place....if they do, we should vote them ALL out of office.

We are in a very confusing time, are we not? It sure seems like the tail is wagging the dog and no one knows what they are doing.

Some suggested reading:

September 24, 2008, 5:45 PM
UPDATED: McCain Suspends Campaign
Posted by John Bentley

Bailout deal nears, but will it work?
Plan to shore up the financial system comes with risks, uncertainties

Lawmakers: Wall Street rescue accord reached
Dodd, Frank: Agreement in principle, expect passage of bill within days

McCain quiet on debate despite bailout plan
Candidate doesn't announce change of mind despite agreement in principle

Posted on Tue, Sep 23, 2008 Palin is not alone when it comes to e-mail problems
By Tom Murray

Posted on Wed, Sep 24, 2008 Wall Street jitters hit Main Street Main Line
LM Township opts to hold off new bond issue of $10 million
By Cheryl Allison

Posted on Tue, Sep 23, 2008
Have troubled times hit Main Line?

Wednesday, September 24, 2008
'We must meet as Americans, not as Democrats or Republicans'

PA Watercooler:Bailout Petition September 25 2008 Filed under Issues - Fiscal by Matt Best

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