Thursday, October 2, 2008

spend $1 trillion buying up home mortgages

McCain Urges Bush To Spend $1 Trillion On Bailout -- Without Congressional Approval

Get Breaking News Alerts not making this up. John McCain today urged the Bush Administration -- on more than one occasion -- to immediately and uniliterally spend $1 trillion buying up home mortgages. I was watching live when he made the proposal this morning, and it seemed like such a staggeringly insane idea that I assumed he couldn't be serious. He couldn't think that Bush should just spend $1 trillion without asking Congress for permission...could he? But then I saw his economic adviser try to back the idea up, and then I saw McCain make the proposal again during the NBC Nightly newscast. So he's serious.

Posted by malct @ 04:45 PM (1138 views)
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17 thoughts on “spend $1 trillion buying up home mortgages

  • planning4acrash says:

    All just grand standing. The plunge protection team has probably spent way more than that during its existence. They are trying to undermine congress. I don’t think the public is buying it, but they are distracted from the real, long term money printing.

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  • Just read today, in FT, that the US has never had a nationwide fall in house prices…. State by state maybe, but never nationally. In the UK we have had 2 since the war. This goes some way in explaining the sub prime experiment….

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  • planning4acrash says:

    All attempts now are smoke and mirrors to take attention from the federal reserve system, to give it more powers, & make it immune from litigation for past & future crimes. All parts of government capable of challenging the feral reserve are bein attacked

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  • maddison – given the size of each state, it’s a bit like the united states of europe

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  • mountain goat says:

    Uncle Sam to the rescue, except he is broke too.

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  • gardeniadotnet says:

    There’s more to this than meets the eye, but I can’t quite put my finger on it.
    My suspicions were aroused yesterday with an ambivalent statement made by McCain about tomorrow’s Congressional vote.

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  • planning4acrash says:

    They already declared martial law in congress, suspending normal rules where congress get a day or more to review legislation. Maybe Bush will use presidential decree44, aka continuity of govt, that gives him dictatorial powers.congress isn’t allowed2c it

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  • planning4acrash says:

    Anybody remember carl rove being suppenored over his refusal to reveal pd44 2 congress? Or maybe he will use the Patriot Act to declare full martial law.

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  • matt_the_hat says:

    I can’t see bush and chaney giving up power somethings going to happen ??

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  • planning4acrash says:

    October surprise? Maybe another false flag terror event? Attack on Iran or Russia? Anything is possible now that the public are totally gone, but bush runs nothing, the puppet masters don’t mind a new leader, but they want to exercise more powers.

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  • @p4AC look at “directive 51”

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  • What if..

    They wanted to put a floor under the housing market. Perhaps get it moving back up….what would that cost?

    People would start to feel good and vote accordingly! Even if the currency was devalued a little.

    Where is this all going?

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  • planning4acrash says:

    Yet more, from London Lite. SIR brat EVelyn de evil Rothschild claims that the ONLY way to solve the crisis is to LICENCE ALL working in the financial sector, i suppose he’d like 2 choose who gets a licence and i bet that if wants to RFID chip them all.

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  • p4ac re evelyn – yes but isn’t he – er – french?

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