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OBAMA BOOM ECONOMY: RECORD BANK IN BEV HILLS, $28,500 A PLATE!

 
 
Woiyo9
 
Reply Tue 16 Sep, 2008 05:54 am
The nation's financials may be in a spiral, but cash is flowing into the Obama campaign faster than Marvin Hamlisch can play "Niagara"!

Yesterday, Obama declared how we are in "the most serious financial crisis since the Great Depression."

Today he will host a dinner in Beverly Hills --- costing attendees $28,500 dollars each!

Hundreds of high rollers, including some of the biggest executives in film, television and music, will munch gourmet chow and hang out with the candidate.

Streisand will then sing at the five-star Beverly Wilshire, no doubt reviving the Depression-era standard "Happy Days Are Here Again" with new urgency.

Obama is set to break a single-day fundraising record of $9 million.

Tuesday's events in Tinseltown come after Obama racked up a record-breaking $66 million dollars in fundraising last month, beating his previous high mark of $55 million last winter.

"The fundamentals of our economy are strong, but these are still very, very difficult times," rival McCain said, sunny-side up.

"Sen. McCain, what economy are you talking about?" smiled Obama.

http://www.drudgereport.com/flashbh.htm

Well, Obama's fundamentals are sure very strong. This guy has no clue!
 
engineer
 
  2  
Reply Tue 16 Sep, 2008 05:58 am
Why would you equate Obama's fundraising with the state of the economy?
Woiyo9
 
  3  
Reply Tue 16 Sep, 2008 06:08 am
@engineer,
The symbolic representation of Obama sucking up to the elite will not go over well in the mainstream. When he sends Biden to the networks to talk about the economy while he wines and dines with the elite is telling me he does not feel the pressures felt today by every working persons 401K/IRA is very important to him.

Do you think politically this is a proper place for Obama to be today?
cjhsa
 
  1  
Reply Tue 16 Sep, 2008 06:14 am
@Woiyo9,
Yes. I think it's great. The more he hangs out with these pseudo-intellectual self indulged Hollyweird morons, the better.
0 Replies
 
engineer
 
  2  
Reply Tue 16 Sep, 2008 07:13 am
@Woiyo9,
Woiyo9 wrote:

Do you think politically this is a proper place for Obama to be today?

Sure. I think it's appropriate for McCain to do so as well. Both candidates stand on top of a pyramid of donors. At the top of that pyramid are very big donors who want to suck up to the candidates (not the other way around). The idea that in order to understand the pain of the masses you must reject the wealthy sounds awfully Marxist to me. If one of the candidates spent all of their time listening to the wealthy and ignored the rest of America, I would have a problem, but both candidates seem to spend a lot of time in diners and bowling alleys as well as ballrooms.
0 Replies
 
Foxfyre
 
  1  
Reply Tue 16 Sep, 2008 08:36 am
They pretty well keep reports of these sorts of things low key in the MSM though. You have to really hunt for them. Might distort the Annonted One's carefully crafted image of being the messiah to the little people or that his contributions come mostly from small amounts contributed on the internet, huh? Smile
0 Replies
 
farmerman
 
  4  
Reply Tue 16 Sep, 2008 09:49 am
petty, petty, petty. Im glad that several high rollers can help Obama raise the needed money so he can fight the lying sacks of excrement that represent the McCain TV brain trust. BTW, does McCain even have a position on the economy other than "the fundamentals are strong"?
Seems thats from the GWB playbook no?
Cycloptichorn
 
  1  
Reply Tue 16 Sep, 2008 09:50 am
@farmerman,
farmerman wrote:

petty, petty, petty. Im glad that several high rollers can help Obama raise the needed money so he can fight the lying sacks of excrement that represent the McCain TV brain trust. BTW, does McCain even have a position on the economy other than "the fundamentals are strong"?
Seems thats from the GWB playbook no?


No, he doesn't. He doesn't have a plan at this point of what to do, either, per his economic advisor.

Cycloptichorn
DrewDad
 
  1  
Reply Tue 16 Sep, 2008 09:54 am
@Woiyo9,
Woiyo9 wrote:

The nation's financials may be in a spiral, but cash is flowing into the Obama campaign faster than Marvin Hamlisch can play "Niagara"!

Yesterday, Obama declared how we are in "the most serious financial crisis since the Great Depression."

Today he will host a dinner in Beverly Hills --- costing attendees $28,500 dollars each!

Who cares? I'm certain that both candidates are trying to raise as much cash as possible.

This has been my WTF? moment of the day.





Oh, wait, I get it now! Obama's at fault because he's successful at raising dough. Success=elitism. He should strive for competency, but never excellence.
0 Replies
 
Cycloptichorn
 
  2  
Reply Tue 16 Sep, 2008 10:10 am
@Cycloptichorn,
More -

Quote:
McCain adviser outlines econ fix
Posted: Tuesday, September 16, 2008 11:45 AM by Carrie Dann
Filed Under: 2008, Economy, McCain

From NBC/NJ's Adam Aigner-Treworgy
After its candidate appeared on the network morning shows and called for a '9/11-style' commission to investigate problems in the financial markets, the McCain campaign's top economic advisor, Doug Holtz-Eakin, held an off-camera briefing with reporters to explain McCain's plan for repairing the market's problems.

"The story line that people want to write that somehow McCain himself or the McCain campaign doesn't understand what's going on in the economy is just wrong," Holtz-Eakin said. "We do. But you shouldn't run for president by denigrating everything in sight and trying to scare people."

Emphasizing that his candidate is running for president and not "chairman of the SEC," Holtz-Eakin said that the campaign will not be writing any legislation but rather laying out guidelines that legislation should adhere to.


"Now, there's no magic solution and I don't think it's at this moment imperative to write down exactly what the plan has to be" Holtz-Eakin said. "But there should be an understanding that when you walk out of the Congress with a piece of legislation in the next administration, those boxes are checked and those things are effectively accomplished."

According to the McCain campaign, those checkboxes include "an effective safety and soundness regulator for every financial institution," "better consumer protections," "improvements in corporate governance" and appropriate solutions to "system stability issues."

When asked what exactly makes McCain more qualified to address these problems than Obama, Holtz-Eakin pointed to McCain's chairmanship of the Senate Commerce Committee. (Cue the flap about Holtz-Eakin brandishing his Blackberry phone to illustrate McCain's record of technological innovation.)

Holtz-Eakin also defended McCain's comments from yesterday that the "fundamentals of our economy are strong," citing exports as a main source of the country's economic strength that provide "more stimulus than any government policy could."

McCain's "fundamentals" remark, which provided the fodder for a new Obama ad released today, illustrates McCain's ability to say "things that reflect an accurate assessment of the economy," Holtz-Eakin said.

"That's not out to lunch," he added. "That's calling things the way they are."


As you can see, he's not going to present an actual plan. Just 'ideas' for what should be done. Confidence-inspiring, isn't it?

His economic advisors are sticking with the 'fundamentals are strong' line. Smart move, guys, smart move!! Not so much.

Cycloptichorn
Woiyo9
 
  2  
Reply Tue 16 Sep, 2008 10:30 am
@Cycloptichorn,
Entirely accurate. A President can only establish the framework. The legislature actually writes the legislation.,

I thought you knew that?
Cycloptichorn
 
  1  
Reply Tue 16 Sep, 2008 10:32 am
@Woiyo9,
Woiyo9 wrote:

Entirely accurate. A President can only establish the framework. The legislature actually writes the legislation.,

I thought you knew that?


Of course I know how our government works, you ninny. But usually Presidential candidates are supposed to have something a little more then vague goals and promises of 'reform' if they want people to take them seriously. HOW is McCain going to reform Wall Street? What specific actions is he going to recommend? How is he going to reform regulation? HOW is he going to limit bonuses for executives? He has not answered any of these questions in detail.

Cycloptichorn
FreeDuck
 
  3  
Reply Tue 16 Sep, 2008 10:36 am
@Woiyo9,
Oh. My. God. A candidate for president attended a fundraising dinner. I can hardly believe it.
0 Replies
 
Woiyo9
 
  2  
Reply Tue 16 Sep, 2008 10:53 am
@Cycloptichorn,
Becoming the first of the presidential nominees to call for a specific response to this weekend's finance crisis, Sen. John McCain (R-Ariz.) said that he wants a 9/11-Commission-style probe of what happened and how it can be prevented in the future.

The bipartisan 9/11 Commission, which issued its widely respected report in 2004, was formally called The National Commission on Terrorist Attacks Upon the United States. After some tussles, the commission won testimony and cooperation from the Bush administration, which eventually implemented many of its recommendations for overhauling the nation’s intelligence services.

McCain, who made the rounds of seven morning shows today, said on CNBC’s “Squawk Box”: “Everybody’s at fault here " the regulatory agencies, who were clearly asleep at the stick. … That’s why I think maybe we ought to have a 9/11 commission type thing, because this crisis is very serious and … certainly a threat to our economy.”

On MSNBC’s “Morning Joe,” McCain said he wants the commission “to find out what went wrong and to fix what's going to happen in the future so this never ever happens again. As president, I guarantee you, it will never happen again.”

http://www.politico.com/news/stories/0908/13493.html

This is one of his ideas. We do not know what Obamas ideas are because he is busy today meeting with the ultra rich Hollywood elite today. Apparently, Obamas fundementals in his economy are going to do very well today.

Cycloptichorn
 
  2  
Reply Tue 16 Sep, 2008 10:58 am
@Woiyo9,
Quote:

Obama’s Remarks on “Confronting an Economic Crisis”

Remarks of Senator Barack Obama"as prepared for delivery

Confronting an Economic Crisis

Tuesday, September 16th, 2008


http://thepage.time.com/obamas-remarks-on-confronting-an-economic-crisis/

Delivered today in Golden, CO. You don't know what the f*ck you are talking about, Woiyo. Again. Obama in the course of this speech proposes MANY specific plans and policies, not passing the buck to some 'commission' like McCain would like to do.

If you tried to do even the slightest bit of research before posting, you would avoid mistakes like this.

Cycloptichorn
Foxfyre
 
  2  
Reply Tue 16 Sep, 2008 11:04 am
@farmerman,
farmerman wrote:

petty, petty, petty. Im glad that several high rollers can help Obama raise the needed money so he can fight the lying sacks of excrement that represent the McCain TV brain trust. BTW, does McCain even have a position on the economy other than "the fundamentals are strong"?
Seems thats from the GWB playbook no?


I have no problem with politicians receiving most of their contributions from high rollers. I only have problems with politicians who claim that they don't.
parados
 
  2  
Reply Tue 16 Sep, 2008 11:10 am
@Foxfyre,
When did Obama claim that?

I would love to see the quote you think says that.
DontTreadOnMe
 
  2  
Reply Tue 16 Sep, 2008 11:20 am
Quote:
What's a Typical Donation?

For Obama, 47 percent of money raised has come from individuals who have donated $200 or less, while 27 percent has come from persons who have donated $2,300 or more.

For McCain, the numbers are nearly the opposite, with 26 percent of donations coming from people who have donated $200 or less and 49 percent from individuals who have donated $2,300 or more.

http://www.factcheck.org/askfactcheck/what_is_the_average_size_of_obamas.html

now what was that again about who's hangin' with the elites ?

you guys just keep walking around in the same old circles about liberals, elites , athiests and whatnot.

you are so out of touch with the mainstream.

0 Replies
 
Woiyo9
 
  2  
Reply Tue 16 Sep, 2008 11:33 am
@Cycloptichorn,
You know, your ******* arrogance is quite annoying.

Do you want to debate or just act like the child you are and "call names"?

Here is the moving parts of the THING I MISSED...

First, if you’re a financial institution that can borrow from the government, you should be subject to government oversight and supervision. When the Federal Reserve steps in as a lender of last resort, it is providing an insurance policy underwritten by the American taxpayer. In return, taxpayers have every right to expect that financial institutions with access to that credit are not taking excessive risks.

Duh.... Who would you appoint to be oversee'r? What is wrong with the SEC and what would you fix?

Second, we must reform requirements on all regulated financial institutions. We must strengthen capital requirements, particularly for complex financial instruments like some of the mortgage securities and other derivatives at the center of our current crisis. We must develop and rigorously manage liquidity risk. We must investigate rating agencies and potential conflicts of interest with the people they are rating. And we must establish transparency requirements that demand full disclosure by financial institutions to shareholders and counterparties. As we reform our regulatory system at home, we must address the same problems abroad so that financial institutions around the world are subject to similar rules of the road.


Duh... how? Manage liquidity risk? If he can tell me that, I can become rich. Full disclousure is already here with the pounds of paper we get that no one can understand.

Third, we need to streamline our regulatory agencies. Our overlapping and competing regulatory agencies cannot oversee the large and complex institutions that dominate the financial landscape. Different institutions compete in multiple markets - Washington should not pretend otherwise. A streamlined system will provide better oversight and reduce costs.

Wait. Isn't this the same as above?

Fourth, we need to regulate institutions for what they do, not what they are. Over the last few years, commercial banks and thrift institutions were subject to guidelines on subprime mortgages that did not apply to mortgage brokers and companies. This regulatory framework failed to protect homeowners, and made no sense for our financial system. When it comes to protecting the American people, it should make no difference what kind of institution they are dealing with.

Regulatory framework was not the problem with Sub Prime. It was criminal negligence on appraisors, brokers and lenders and the stupid people who signed on the bottom line.

Fifth, we must crack down on trading activity that crosses the line to market manipulation. The last six months have shown that this remains a serious problem in many markets and becomes especially problematic during moments of great financial turmoil. We cannot embrace the administration’s vision of turning over the protection of investors to the industries themselves. We need regulators that actually enforce the rules instead of overlooking them. The SEC should investigate and punish market manipulation, and report its conclusions to Congress.

Agree but he needs to add liability to the Board of Directors and Executive Officers. What about a tax change relavent to "golden handcuffs"?

Sixth, we must establish a process that identifies systemic risks to the financial system like the crisis that has overtaken our economy. Too often, we end up where we are today: dealing with threats to the financial system that weren’t anticipated by regulators. We need a standing financial market advisory group to meet regularly and provide advice to the President, Congress, and regulators on the state of our financial markets and the risks they face. It’s time to anticipate risks before they erupt into a full-blown crisis.

Difficult to do. How remember the DOT COM Bubble? How will govt tell investors "THIS IS A BAD DEAL"? I understand the sentiment, but this one makes no practical sense...


Now stop being a asshole and try to debate.
Cycloptichorn
 
  2  
Reply Tue 16 Sep, 2008 11:44 am
@Woiyo9,
It's meant to be annoying, Woiyo. It's intentional. I hope you DO find it annoying. And I couldn't do it if you didn't open yourself up to such obvious attacks. When you are completely wrong about ****, it's pathetic and deserves to be pointed out. You make statements from a position of ignorance, and then get pissy when you are called out on them. It's quite funny, but not very challenging. Try harder. If your comments were more accurate to begin with, I wouldn't be able to treat you with derision. But if you insist on keeping it up, so will I.

The things Obama has outlined, some will agree with them and some will not. McCain on the other hand has outlined NOTHING and isn't going to - just give vague goals and promises of 'reform.' That's not credible, coming from a guy who has been an anti-regulation warrior his entire career in the Senate.

Quote:

Regulatory framework was not the problem with Sub Prime. It was criminal negligence on appraisors, brokers and lenders and the stupid people who signed on the bottom line.


Actually, regulatory framework IS the problem with the sub-prime mortgages. See, it didn't used to be legal to take a bunch of mortgages, bundle them up, and sell them as securities. But when the regulations forbidding that were relaxed - for which you can thank Mr. Phil Gramm, and a bill which McCain voted for - banks started doing exactly that and over the years more and more of their holdings were concentrated in this form of security. Now, it's all coming tumbling down, and you want to pretend that the regulations have nothing to do with it at all? Dream on! Of course they do!

Cycloptichorn
 

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