The "toxic debate derivatives" edition of the weekly Tennessee progressive blog roundup with a look at what the state's best bloggers are talking about...
• 10,000 Monkeys and a Camera: Senator Drama Queen: ...how does a man go, in just a few days, from claiming that the economy is fundamentally sound to marching all over Washington, DC like Chicken Little, hitting new levels of scenery munching, derailing the negotiations Congress had gotten through before his arrival politicized the whole process -- swooping in, wearing his home-made cape and superhero pajamas -- pretending to be the man who’s saving the day, when he couldn't even be bothered to read the 3-page document that is central to the process?
• 55-40 Memphis: I ask again, is this the best way to use the ammo? Besides, the five biggest Wall Street losers have already rolled over. We need to protect cash deposits, homes, jobs. That's where Main Street lives.
• Aunt B: I start by saying two things that I have observed about Southerners -- one, a lot of them are Southern Baptist, which means, when they don't like how something’s going, they have no compunction about breaking off and doing something different while still considering themselves to be the true carriers of the proper torch and two, they don't like to be played for fools.
• Carole Borges: If you've been following the economic terrorist attack from within, you probably feel confused. Who wouldn't. It's obvious no one in Washington has a clue what is happening. How could ANYONE in their right mind even consider for one micro-second supporting anything that says "...the whole thing is up to Paulson's "discretion," and "may not be reviewed by any court of law or any administrative agency."
• The Crone Speaks: Now, onto why I felt Obama dominated the foreign policy segment. As I wrote quickly last night, he was authoritative, his answers came easily, he did not rely on anecdotes or generals, or the old guard. As I also mentioned last night, McCain tired quickly. He looked, to me, to be extremely tired.
• Joe Powell: I do know that for the first time in my life, this important office isn't being handed off to the next local insider, another pre-selected candidate from the Republican party which has held total control of [Tennessee's 1st Congressional District] for over 100 years.
• Don Williams: Welcome to full-blown oligarchy -- government that socializes the losses of big business while privatizing the profits and promoting corporate welfare through good-old-boy contracts for military build-ups, outdated energy plans and tax breaks for the wealthy.
• TNDP: In spite of the unprecedented economic crisis created by Bush-McCain policies that freed the banking and lending industry from vital protections for the American people, John McCain wants to put Americans’ health care at the mercy of Wall Street.
• Enclave: Given Barack Obama's strong, comfortable, steady performance in tonight's debate on John McCain's turf of foreign policy, I would say that the Republican attempts for the last four weeks to raise expectations on Sarah Palin by comparing her to Barack Obama may have been a deadly mistake. Also, see ongoing series re. racial tensions fueled by suspect Tennesseean reporting.
• Fletch: Lighthouse Light
• KnoxViews (Sven): The author, like all the other purveyors of this and other similar dumbass notions, fails to explain the mechanism by which the GSEs ruined America. He harps on poor and corrupt management, accounting scandals and skeezy congressional ties - all of which existed. But zero evidence is provided for the core implication that Fannie Mae and Freddie Mac stampeded Wall Street into making bad loans to the shiftless underclass. That's because no such evidence exists. And: R. Neal: Just like investors who have been duped, the federal government will have no idea what they are buying or what to do with it. Even on a straight up equity sale of shares nobody knows what they are buying any more. Quarterly reports are works of fiction and earnings conference calls are performance art. With derivatives they don't even have to lie -- they can just hide mistakes and corruption under impenetrable layers of bullshit. Corporate America's stock in trade is now deception.
• Lean Left: So the GOP plan is to insure the bad debts, putting the taxpayers on the hook for possibly much more than the 700billion dollar Paulson came up with without giving the taxpayers anyway to ever get compensation if the government is required to pay off on that insurance. And then, just to rub salt in the wounds of the average tax payer, they are going to give the class of people who are most responsible for getting us into this mess a huge tax break for two years.
• Left of the Dial: The only time George W. Bush has spoken to us with "any sense of conviction, control, sincerity and grasp of the situation" was atop the rubble of the World Trade Center holding a megaphone. And even that turned out to be a bunch of crap. Plus: No Bailout For You!
• LeftWingCracker: Here's how to help Obama in Memphis
• Liberadio(!): One of the most important questions that could be asked by Jim Lehrer is not being asked: "What exactly is victory in Iraq?" Plus: Yee of Much Faith
• Newscoma: "George Bush is no different than Herbert Hoover," he said. "I was a kid during the depression and I want you to know, we are heading down this path again."
• The Pesky Fly: What bothers me is that this dog whistle has so permeated the conversation that it has filtered down to second graders. That, dear children, is some effective marketing.
• Resonance: Financial Crisis Reveals Bush's "Political Capital" Is Now An Illiquid Asset
• RoaneViews: We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. Republican Party Platform adopted September 2008
• Russ McBee: Both Fulmer and McCain are decrepit, counter-productive shadows of their former selves, and both have far exceeded their sell-by dates. Plus: Trillion dollar life preserver: I don't know about you, but I'm awfully tired of being trickled on.
• Sean Braisted: Ultimately, while this bailout deal might be in the best interest for our country, the language being used by the administration is fairly reminiscent of language used to push through the ill-conceived Patriot Act, and the War on Terror in general.
• Sharon Cobb: I'm giving away two tickets for you to see and meet my favorite rednecks, Jackie and Dunlap from Red State Update. They are appearing in a town hall meeting in Nashville on October 6, and all you have to do is drop me an email telling me why you love these two lunatics, and I'll forward your entry to Jackie and Dunlap to choose the winner. (No way I was going to choose the winner!) Please get all entries in by Friday, October 3 at midnight to me at: MissSharonCobb@aol.com
• Silence Isn't Golden: But the Republicans aren't going to touch this thing with a ten-foot pole. Why would they? Bush has no coattails anymore, there's no need for them to fall in line with him. They can vote against it, and they will, and then go back to their districts and put all the blame for the fact that we're wasting billions of taxpayer dollars to bail out irresponsible corporations...on the Democratic leadership in Congress!
• Southern Beale: Yesterday blog trolls started touting the expected line that our mortgage crisis is the fault of a) Bill Clinton, and b) black people. Gee, what took them so long?
• vibinc » Blog Archive » The Coming Financial Disaster: Remember, just because you don't understand it, doesn't mean it doesn't affect you.
• WhitesCreek Journal: I don't know that much about this stuff, but according to one Democratic Congressman calls to Congress are running about 50-50 on the bailout... 50% No! And 50% HELL NO! Plus: Did You See the Debate?: I saw something else on John McCain's face as he turned it away from Barack Obama. I saw one hell of a pancake makeup job hiding the purple rage. That $5000 was money well spent.
• Women’s Health News: McCain just said something to the effect that healthcare should be between the patient and the physician, not the federal government. Can I hold him to that on reproductive health and "conscience?"
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