Imminent is a nebulous term. So let me just toss it and say this: The failure to act will cause a crisis. When said crisis will occur does not matter to me. The fact it will occur is the salient point. The only out is a turn around in the real estate market. And that's going to happen. Doing nothing is not an out.

How big? And what does he plan on doing about the toxic loans on their books?

Fine. Get warrants that are only redeemable if the government eventually does not get its money back from the paper it's buying. Great. Sign the (*)(*)(*)(*) bill.

On a scale of 1 to 10? 10. Which is what they are trying to get across to the "fine people" in Congress.

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I wasn't born with enough middle fingers.

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There are only two things wrong with this great nation of ours, democrats and republicans!

Not necessarily in that order.

So do it. Fine. But sign the (*)(*)(*)(*) bill.

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I wasn't born with enough middle fingers.

If it's not in the bill, it won't get done! They want the congress to pay them their allowance without having to take the trash out (clean house) or mow the grass (adjust/enforce appropriate regulatory actions)!

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There are only two things wrong with this great nation of ours, democrats and republicans!

Not necessarily in that order.

The government can pass regulation anytime it wants. The government cannot control who manages a company and who does not. The idiots who got loans they could not afford to pay back were not criminal. And the idiots who bought loans the borrower could not pay back were not criminal.

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I wasn't born with enough middle fingers.

I don't know about you but I had no idea it was this bad. We buy and sell commercial mortgages every day when I was at GE. But <gasp> we used sound lending practices. Why was commercial different than consumer? Hmmm, well what is the one key difference between these two areas, commercial and residential? Fannie Mae and Freddie Mac? Gee, that must be a coincidence. And that those entities were pushing and buying bad paper has nothing to do with this right?

I understand the skepticism, but if the market collapses the dems have to know they will be responsible for it because Bush is screaming for a bill to sign. On the other hand, we will be under Marshall Law after the resulting panic so parties won't matter.

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All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

Fannie and Freddie contributed big time. But there is another difference. Commerical Real Estate loans are not approved by brokers who get a commission and then pass the risk along. In a way it was like 9/11. It only happened because so many people in so many places did so many things wrong. Commericial loans have a backstop. If you have insuffcient income and crappy credit you will be denied. Period. Not so with mortgages circa 2004. Then Freddie and Fannie decide that such mortgages now qualify for securitization, the ratings agencies bless them, and financial institutions buy them and borrow against them. I guess the fact people can't pay them back just escaped everyone's attention.

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I wasn't born with enough middle fingers.

Well----but if we don't act and it DOES happen---then don't come crying around about it. You'll have to realize at that point, then it was YOUR own fault. (using "you" in the general sense)

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"What exactly is this foreign policy experience?" Obama said mockingly of the New York senator. "Was she negotiating treaties? Was she handling crises? The answer is no."

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There are only two things wrong with this great nation of ours, democrats and republicans!

Not necessarily in that order.

I think the President is going to explain that to us tonight.

Been listening to Chuck Schumer, I see. BECAUSE their point here is to restore confidence. Plus I'm sure they know the numbers of what needs to be bought up. Most Americans wouldn't understand all the financial stuff EVEN IF it was put out in front of them.

It's my understanding, Paulson has already compromised on the point of CEO pay. He's concern in NOT wanting to do that, is that he believes it will keep some from coming into the program. If they don't, the plan fails and the country suffers. Sometimes, it's a bad idea to cut off your nose to spite your face. It only hurts more in the long run. But if he's agreed, and it still works, then their demand wasn't a bad one.

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"What exactly is this foreign policy experience?" Obama said mockingly of the New York senator. "Was she negotiating treaties? Was she handling crises? The answer is no."