Campaign Antics: 2008

Thursday, October 9, 2008

The great crash of 2008

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The world’s central banks tried to jump-start investors’ confidence today with coordinated interest rate cuts. On Wall Street, it looked like the move was doing the trick late in the day -- until the final 30 minutes of trading. The Dow Jones industrials had been up as much as 150 points going into the final half hour, then abruptly gave it all up and closed down 189.01 points, or 2%, to 9,258.10. Broader indexes also lost between 1% and 2%. It was the market's sixth straight loss, and left the Dow off 34.6% from its record high reached a year ago this week. Still, the action today was dramatically improved from the previous two sessions. The Dow was off 370 points Monday and 508 points Tuesday.
And Wall Street fared much better than Europe, where most market indexes plunged between 5% and 7% today despite the rate cut announcement.

On the New York Stock Exchange, 749 stocks rose and 2,457 fell. That’s lousy, except when compared with Tuesday’s sell-off, when just 387 issues rose while 2,879 fell. On Monday, a mere 248 stocks were up. Some stocks today sparked genuine enthusiasm: Agricultural products giant Monsanto Co. reported a fiscal fourth-quarter loss, which was expected (it’s a seasonal issue). But the company said it expected fiscal 2009 earnings to be up 15% to 20% and that its farmer customers weren’t reporting trouble getting credit. Monsanto’s shares surged $7.26, or 9.8%, to $81.44. Among blue chips, battered General Electric Co. sank as low as $19.90 but finished at $20.65, up 35 cents. The overnight rate the company was offering on commercial paper was 1.25%, down from 1.90% on Tuesday, Bloomberg News reported. That hinted at some improvement in the credit markets.

But other key short-term rates continued to climb, despite the central banks’ rate cuts. The three-month dollar Libor loan rate (short for London interbank offered rate) rose to 4.52% from 4.32% on Tuesday. If there’s to be a noticeable turn in confidence, "We’ll see it first in the credit markets and then in the equity markets," said Marshall Front, chairman of money manager Front Barnett Associates in Chicago. One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week. Meanwhile, oil prices looked for direction as traders weighed fears that a world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far. Light, sweet crude rose 14 cents to $89.09 per barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 386.7 million shares. The Russell 2000 index of smaller companies fell 6.77, or 1.24 percent, to 539.80. In Asia, Japan's Nikkei 225 closed down 0.50 percent while the Hang Seng added 3.31 percent. In afternoon trading, European bourses advanced, with Britain's FTSE-100 up 1.65 percent, Germany's DAX up 0.86 percent, and France's CAC-40 up 0.34 percent. On the Net: * New York Stock Exchange: http://www.nyse.com * Nasdaq Stock Market: http://www.nasdaq.com

New Statesman - The great crash of 2008
The world's financial institutions are gripped by fear, yet policymakers can do nothing. They are ignorant of how banks now work and have to take poacher-turned-gamekeeper Henry ...
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The Great Chinese Crash of 2008
The Motley Fool - Some see panic, others see profits. ... Starting last fall, the Chinese stock markets went into a nosedive, not unlike the Nasdaq plunge of 2000.
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The Great Chinese Crash of 2008
The Motley Fool - Some see panic, others see profits. ... Starting last fall, the Chinese stock markets went into a nosedive not unlike the Nasdaq plunge of 2000.
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THE GREAT CRASH OF 2008
THE GREAT CRASH OF 2008 Mason Gaffney August 17, 2008 This crash is The Big One; it has signs of becoming a Category 5. How do we know? We've "been there and done that" so many ...
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Dollars & Sense blog: The Great Crash of 2008, by Mason Gaffney ...
Dollars and Sense magazine and textbooks provide analysis and opinion on economic policy and politics from a progressive political perspective
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Amish hurt in bus crash near Ann Arbor
Amish hurt in bus crash near Ann Arbor Valerie Olander and Darren A. Nichols / The Detroit News NORTHFIELD TOWNSHIP ... several twists - 10/09/2008 Charges reduced in child cremation - 10/09/2008 Judge to rule on school strike - 10/09/2008 Study lifts Great ...
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Source: Detroit News
NewsDateTime: 1 hour ago

Commentary: Is this the start of another Great Depression?
Could this be the start of another Great Depression? Could "it" possibly happen ... rate cuts might cause capital to flee to other countries and the dollar to crash ... 2008 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
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Source: CNN
NewsDateTime: 2 hours ago

Austrian skier Schild to miss World Cup season
... miss the upcoming World Cup season after breaking her left leg in a training crash ... She was in great form and was in a league of her own at the slalom." Schild was ... Copyright 2008 Associated Press. All rights reserved. This material may not be ...
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Source: Forbes
NewsDateTime: 4 hours ago

Uncertain times call for thrifty gardening
My parents were typical of the generation so deeply affected by the Great Depression ... Long before the crash of ‘29, they were accustomed to milking cows and plowing ... Visitor Agreement | Privacy Statement Copyright© 2008 The Atlanta Journal ...
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Source: Atlanta Journal Constitution
NewsDateTime: 50 minutes ago

The Great Chinese Crash of 2008
Since October 2007, the Chinese stock markets have done a nosedive, making our S&P 500's drop of 25% over the same period dull in comparison. From their October highs, the Shanghai Composite (SSE) is down 62%, and the Hang Seng is down 39%. Given the ...
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Source: Motley Fool
NewsDateTime: 10/2/2008

One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week.

Videos from YouTube
Title: Markets crash after "NO" vote
Categories: real,News,street,media,bailout,politics,news,banks,therealnews,financial,wall,

Published on: 9/30/2008 10:42:20 AM
Title: Black Monday: 10-6-08 The Great Financial Market Crash
Categories: 06,Legatus,Bail,Microsoft,Stock,News,Financial,Catholic,Out,October,Monday,Crash,Market,08,Black,10,Wamu,Conspiracy,

Published on: 10/4/2008 11:03:18 PM
Title: FINANCIAL TSUNAMI IMMINENT!! The Stock Market Crash of 200?
Categories: aig,paulson,Education,out,market,mac,oil,Bail,bernake,stock,crash,inflation,fannie,trillion,freddie,mae,ben,hank,Government,dollar,

Published on: 9/19/2008 1:17:12 PM
Title: Stock Market Crash & The (next) Great Depression Ahead?
Categories: robert,crisis,free,market,deflation,dvd,the,mortgage,great,News,video,stock,crash,recession,sub-prime,depression,prechter,

Published on: 10/1/2007 10:23:56 PM
Title: Lehman Brothers collapse. Sep. 15, 2008. Stock Market Reactions
Categories: Freddie,Economy.,market,Brother,sep.,and,Mae,15,the,of,Stock,News,crash,Fannie,Collapse,Lehman,Reaction.,Western,Mac,fed,

Published on: 9/15/2008 10:50:24 AM

Tuesday, October 7, 2008

2nd Presidential Debate: The Straight Talk Express lost a wheel on that one

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"The Straight Talk Express lost a wheel on that one," he said. He said his plan would only tax those making more than $250,000 a year, and most small businesses would not be affected. He also has a proposal for a tax cut that he said would cover 95 percent of Americans. Obama has solidified his national lead in polls ahead of the Nov. 4 election and gained an edge in crucial battleground states in recent weeks as the Wall Street crisis focused attention on the economy, an area where polls show voters prefer the Illinois senator's leadership. The economic turmoil continued on Tuesday, with stocks tumbling for the second consecutive day in a sign the $700 billion bailout of U.S. financial institutions did not ease market concerns about the economy. Asked about a possible Treasury secretary under their administrations, both candidates mentioned Omaha's legendary investor Warren Buffett, a supporter of Obama. The debate featured little of the anger and aggressive attacks that have been featured on the campaign trail in the last week. Polls judged Obama the winner of the first debate two weeks ago, but Tuesday's debate was conducted in a looser town hall format where questions were asked by the audience -- a favorite setting for McCain and a staple of his campaigns in the battle for the party nomination this year and in 2000. About 100 undecided Nashville voters identified by the Gallup polling company posed the questions. The candidates sat on stools and were free to roam the stage.
McCain and Obama enter Tuesday night's second presidential debate at Belmont University with a real sense of a race that's slipping away from McCain -- and a growing realization in GOP circles that the Republican ticket has a dwindling number of chances to reclaim the narrative. (If the national polls don't convince you -- take Ohio, please.) McCain gets the format he wants, but not the backdrop. If the debate follows the logical progression of the week, we will continue down the path of least subsistence into out-and-out, guilt-by-association name-calling -- led there, in all likelihood, by McCain, whose campaign is trying to thrust "character" into a campaign that may not welcome it. Does McCain want to go there? Will/should even nasty attacks register when compared to the psychological blows arriving in mailboxes these days, depicting shattered 401(k)s? And with Tuesday night's town-hall format, does a candidate want to throw bombs when there are civilians in range? It may be too late for those choices: It's on, and it's ugly. In the run-up to the debate No. 2, McCain and (particularly) Palin have gone personal -- and Team Obama responded by bringing up the Keating 5. "Who is the real Barack Obama?" McCain said Monday (with now-casual references to Obama's "lies"), per ABC's Jake Tapper and Bret Hovell. "Even at this late hour in the campaign there are things we don't know about Senator Obama or the record that he brings to this campaign." And -- going further, but still not as far as she wants to go -- Palin "invoked fear for the first time when discussing Sen. Barack Obama's connection to former 60's radical William Ayers," per ABC's Imtiyaz Delawala. "I am just so fearful that this is not a man who sees America the way that you and I see America -- as the greatest source for good in this world," said Palin, R-Alaska. Obama, she said, "launched his political career in the living room of a domestic terrorist." No turning back from here: "Mr. McCain made clear on Monday that he wanted to make the final month of the race a referendum on Mr. Obama's character, background and leadership -- a polite way of saying he intends to attack him on all fronts and create or reinforce doubts about him among as many voters as possible," Adam Nagourney writes in The New York Times. "And Mr. Obama's campaign signaled that it would respond in kind, setting up an end game dominated by an invocation of events and characters from the lives of both candidates." "Look, I'm not sitting here with my feet up," said senior Obama adviser David Axelrod. "The back-and-forth, coming on the eve of a presidential debate tonight, represented some of the strongest language yet in a race that has grown increasingly negative and signaled that the final four weeks of the campaign could grow even nastier,"

The moderator, Tom Brokaw of NBC News, is sifting through those millions of questions to find six or seven that he might pose. The other dozen or so questions will come from among an audience of about 80 likely voters from the Nashville area who will be on stage with the candidates. Mr. Brokaw will meet with audience members on Tuesday as he seeks a balance between foreign and domestic topics. The live audience was selected over the last week by the Gallup Organization, which made thousands of calls to find people who are truly uncommitted - that is, they may be leaning toward one candidate or the other but could still change their minds. “Only a small percentage of the population qualifies as uncommitted,” said Frank Newport, editor in chief of the Gallup Poll.

The format allows about five minutes for each question: two minutes for each candidate and one minute for what the co-chairman of the Commission on Presidential Debates, Frank J. Fahrenkopf Jr., described as “interplay” to be managed by Mr. Brokaw.

CNN Political Ticker: All politics, all the time Blog Archive ...
WASHINGTON (CNN) — The Straight Talk Express ... you just threatened to kill one of our Presidential ... you agree with most, not which one "seems" best. Then you can debate ...
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Palin, pancakes, and the straight talk express | MetaFilter
... wheels come off the straight talk express? At least one ... actually good people who lost to worse ones? I think of Obama as the best presidential ... is going into the 2nd half ...
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Think Progress » Sister Of Slain Soldier: Candidates Didn ...
... Republican presidential debate, one of ... because of a 2nd or ... You talk about Saddam Hussein shooting at US aeroplanes; quite apart from the fact that not one was lost pre-war ...
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Bitter | THE GUN TOTING LIBERAL™
... in last night to ABC’s televised Democratic debate ... Agree with her on that one, disagree HIGHLY on both ... be held accountable for his deeds, misdeads, “Straight Talk Express ...
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CNN Political Ticker: All politics, all the time Blog Archive ...
... is proposing to the Presidential Debate ... the VP debate for the presidential debate, and have Biden and Palin on stage instead? One of ... STMH-Straight Talk My Hinny... September ...
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At the Foothills of the Smokey Mountains, Obama Assails McCain Attacks
... us under the bus. But we dusted ourselves off and got on another one-- It is called the McCain/Palin express ... What about all the billions lost to contractors in Iraq. What about ... Let me get this straight 'cause I'm a little confused. Obama works ...
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Source: ABC News Blogs
NewsDateTime: 10/5/2008

Viewing all entries for: September 2008
ANDREW SULLIVAN keeps a classic quote from George Orwell at the top of his blog: "To see what is in front of one's nose needs a constant struggle." So true. (For a real look at the state of the race in Pennsylvania, see here .) Well, I asked the ...
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Source: Economist.com
NewsDateTime: 9/30/2008

Cis' blog roundup - Friday
Notes on a Napkin hits on every parents fear. The protection of our children. And she gives you a phase to keep in your mind, perhaps forever, and for every occasion. Have we looked at Cinnamonspice before? This is a 4 day old one, but this is a blog ...
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Source: Spokane Spokesman-Review
NewsDateTime: 10/5/2008

Friday wild card
There's been a lot of talk on the news shows this ... into a Bonner County courtroom wasn't lost on the bailiffs last week. One sang ... I'm pleased, eminent domain abuse is one of the most underreported 7. It's about time Bush used his presidential power to ...
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Source: Spokane Spokesman-Review
NewsDateTime: 10/5/2008

Palin: Obama Not Qualified to Be Commander-in-Chief
She will only talk to FauxNews now... that's okay... Palin exceeded expectations only because the bar for her was set inside the rut of a wagon wheel. ... Score 2 out of 2. I can't wait for the next Presidential debate
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Source: ABC News Blogs
NewsDateTime: 10/3/2008

The format allows about five minutes for each question: two minutes for each candidate and one minute for what the co-chairman of the Commission on Presidential Debates, Frank J. Fahrenkopf Jr., described as “interplay” to be managed by Mr. Brokaw.
When the candidates meet tonight at Belmont University in Nashville, Tenn., for their second of three debates, the pressure will be on McCain, who is trailing in the polls, to convince people to reconsider their priorities as well as their votes. That means continuing his campaign's strategy of attacking Obama's judgment, analysts said. "He's got a very difficult task ahead of him," said Torie Clarke, a Republican strategist and ABC News political consultant. "He has to do something different. He has to say something that will change the game. He has to inject something into the system that will shake things up, because right now, it does not look good."

Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.

Videos from YouTube
Title: 1 of 11 - Obama / McCain Presidential Debate from Mississippi - 9/26/08
Categories: election,first,barack,obama,2008,mccain,News,debate,foreign,policy,john,presidential,Mississippi,university,

Published on: 9/27/2008 12:00:55 AM
Title: McCain vs. Obama Debate Wrap Up
Categories: turks,pal,barack,democratic,obama,president,the,economic,mccain,News,sarah,nominee,young,up,john,republican,wrap,plan,debates,

Published on: 9/26/2008 11:08:54 PM
Title: AP Analysis: The First McCain-Obama Debate
Categories: analysis:,News,debate,first,presidential,ap,mccain-obama,

Published on: 9/26/2008 11:01:40 PM
Title: Bracelet Battle (McCain/Obama Debate)
Categories: military,cnn,basketball,war,obama,Comedy,26,sept,mccain,video,debate,news,parody,bracelet,dennys,

Published on: 9/27/2008 2:57:32 PM
Title: Obama: Debate is 'More Important Than Ever'
Categories: economy,Florida,Barack,mccain,News,Obama,Avail,bailout,john,Press,suspension,Clearwater,campaign,

Published on: 9/24/2008 5:48:13 PM

2nd Presidential Debate: tackling about the economy

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McCain and Obama enter Tuesday night's second presidential debate at Belmont University with a real sense of a race that's slipping away from McCain -- and a growing realization in GOP circles that the Republican ticket has a dwindling number of chances to reclaim the narrative. (If the national polls don't convince you -- take Ohio, please.) McCain gets the format he wants, but not the backdrop. If the debate follows the logical progression of the week, we will continue down the path of least subsistence into out-and-out, guilt-by-association name-calling -- led there, in all likelihood, by McCain, whose campaign is trying to thrust "character" into a campaign that may not welcome it. Does McCain want to go there? Will/should even nasty attacks register when compared to the psychological blows arriving in mailboxes these days, depicting shattered 401(k)s? And with Tuesday night's town-hall format, does a candidate want to throw bombs when there are civilians in range? It may be too late for those choices: It's on, and it's ugly. In the run-up to the debate No. 2, McCain and (particularly) Palin have gone personal -- and Team Obama responded by bringing up the Keating 5. "Who is the real Barack Obama?" McCain said Monday (with now-casual references to Obama's "lies"), per ABC's Jake Tapper and Bret Hovell. "Even at this late hour in the campaign there are things we don't know about Senator Obama or the record that he brings to this campaign." And -- going further, but still not as far as she wants to go -- Palin "invoked fear for the first time when discussing Sen. Barack Obama's connection to former 60's radical William Ayers," per ABC's Imtiyaz Delawala. "I am just so fearful that this is not a man who sees America the way that you and I see America -- as the greatest source for good in this world," said Palin, R-Alaska. Obama, she said, "launched his political career in the living room of a domestic terrorist." No turning back from here: "Mr. McCain made clear on Monday that he wanted to make the final month of the race a referendum on Mr. Obama's character, background and leadership -- a polite way of saying he intends to attack him on all fronts and create or reinforce doubts about him among as many voters as possible," Adam Nagourney writes in The New York Times. "And Mr. Obama's campaign signaled that it would respond in kind, setting up an end game dominated by an invocation of events and characters from the lives of both candidates." "Look, I'm not sitting here with my feet up," said senior Obama adviser David Axelrod. "The back-and-forth, coming on the eve of a presidential debate tonight, represented some of the strongest language yet in a race that has grown increasingly negative and signaled that the final four weeks of the campaign could grow even nastier,"

Sciencedebate 2008
A Presidential Debate on the role of Science in America's Future, ... both nationally and in Oregon, whose economy is ... we would hope that your candidate has plans for tackling ...
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ABC News: TRANSCRIPT: The Democratic Debate
... University in Iowa for the first Democratic presidential debate in ... We want to cover the economy, health care, education ... Let me turn now to the second question I raised, the ...
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MDP Presidential Hopefuls In Televised Debate
MDP Presidential Hopefuls In Televised Debate By Olivia Lang in Malé ... Tackling Drugs With the drugs problem escalating ... A second journalist picked up the issue ...
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CPD: 1996 Debate Transcript
Commission on Presidential Debates: October 6, 1996 Presidential ... A 90-second answer, a 60-second rebuttal, and a 30 ... One seventh the total economy, 17 new taxes, price ...
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GOP rivals spar in YouTube debate - The Debates- msnbc.com
GOP rivals spar in YouTube debate Nov. 29: GOP presidential candidates trade ... of public service and life filled with second ... Biden, Palin clash on Iraq, economy
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Community bids farewell to Army Capt. Michael Medders
... and the bank -- because of concern about what effect the slowing economy could ... Army's 2nd Squadron 3rd Armored Cavalry, based at Fort Hood, Texas. He was ... The clash over Iraq was the most personal, and pointed, of the only vice presidential debate ...
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Source: Cleveland Plain Dealer
NewsDateTime: 10/4/2008

Economy the hot topic in race for 2nd District House
Economy the hot topic in race for 2nd District House By ROBYN L. MINOR, The Daily News ... say that voters are concerned with the economy, and both are echoing their parties’ presidential nominees: ... Locally the debate will be aired at 7 p.m. on channel ...
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Source: Bowling Green Daily News
NewsDateTime: 9/21/2008

Climate Change
... As an issue, climate change dwarfs race, war, the economy and Hillary's integrity. But nobody's asking the three presidential ... Deniers conference is like "˜2nd coming of Jesus.' ... UN appeal (3 comments) Key countries in the fierce debate over tackling ...
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Source: OpEdNews.com
NewsDateTime: 9/7/2008

Biden calls Palin 'Lieutenant Governor'
... the opposite - they'll raise taxes and cause our economy to decline further. After listening to her speech, I applaud Gov. Palin's methodical approach for energy independence and tackling ... When asked again about his statement during the debate he ...
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Source: ABC News Blogs
NewsDateTime: 9/4/2008

Councilman MikeK Recalls Knievel Action Figure
... Bill Richardson and Rudy Giuliana; Losers: Commentators, Republicans, 2nd ... Yes, of course – he invited all the major presidential candidates to address the ... commemorates the sixth anniversary of the death of George Harrison, the "economy ...
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Source: Spokane Spokesman-Review
NewsDateTime: 8/18/2008

The format allows about five minutes for each question: two minutes for each candidate and one minute for what the co-chairman of the Commission on Presidential Debates, Frank J. Fahrenkopf Jr., described as “interplay” to be managed by Mr. Brokaw.
When the candidates meet tonight at Belmont University in Nashville, Tenn., for their second of three debates, the pressure will be on McCain, who is trailing in the polls, to convince people to reconsider their priorities as well as their votes. That means continuing his campaign's strategy of attacking Obama's judgment, analysts said. "He's got a very difficult task ahead of him," said Torie Clarke, a Republican strategist and ABC News political consultant. "He has to do something different. He has to say something that will change the game. He has to inject something into the system that will shake things up, because right now, it does not look good."

Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.

Published on: 9/26/2008 11:08:54 PM
Title: AP Analysis: The First McCain-Obama Debate
Categories: analysis:,News,debate,first,presidential,ap,mccain-obama,

Published on: 9/24/2008 5:48:13 PM

2nd Presidential Debate: Talking about the economy

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Sen. John McCain has said he wants to shift the national dialogue away from the ongoing economic crisis and onto Sen. Barack Obama's character, and will likely use the stage of tonight's debate to do just that. At least six million questions have been submitted via the Internet to be asked at the town-hall-style presidential debate Tuesday in Nashville between Senators Barack Obama and John McCain. That’s a lot of queries for 90 minutes, and obviously they won’t all get asked - there will be time for only 15 to 20.

CPD: 2004 Debate Transcript
The Second Bush-Kerry Presidential Debate. SECOND PRESIDENTIAL CANDIDATES' DEBATE ... Senator Kerry, after talking with several co ... Now, the president has presided over an economy ...
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CPD: 2000 Debate Transcript
Commission on Presidential Debates: October 11, 2000 debate ... Debate Transcript: October 11, 2000. The Second Gore-Bush Presidential Debate ... Here we're talking at this stage in the game ...
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Online NewsHour: The Second Presidential Debate -- October 11, 2000
In the first part of the second presidential debate, Governor Bush ... I'm talking about financial assistance and that sort ... leadership to make sure the world economy ...
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The CNN Democratic presidential debate in Texas - CNN.com
This is the transcript of the debate between Democratic presidential candidates ... Our nation is at war, and our economy is ... Senator Clinton and I have been talking about ...
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Presidential debate - MSNBC Transcripts- msnbc.com
And I welcome you to the first of the 2004 presidential debates ... there can only be a two-minute response, a 90- second ... opium production; where 40 to 60 percent of the economy ...
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Global Financial Panic 2007
McCain confirms US ideological bankruptcy United States presidential candidate John ... deregulation is the answer to everything Why Is The Bush Administration Talking ... an epic financial crisis, which ought to be at the center of the election debate ...
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Source: OpEdNews.com
NewsDateTime: 10/5/2008

Big gun comes out for Titus
Hillary Clinton and Barack Obama in Nevada’s early presidential caucus. Although the ... states like California...where Democratic control has destroyed the economy ... having to lie about herself or her opponent, or just spout Republican talking ...
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Source: Las Vegas Sun
NewsDateTime: 10/4/2008

Can Hoboken withstand a 75-story building?
... the matter on hold for two weeks in deference to new members of the council - 2nd ... The issue is part of a larger, and relatively new, debate over whether people ... His DVD of standup material, called "It's the Whiskey Talking," was a hit with fans.
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Source: Houston Community Newspapers
NewsDateTime: 10/5/2008

Political Punch
To win Nebraska's 2nd congressional district, or Omaha, so if the nightmare ... the heck is he going to fund it without raising taxes for ANYONE, with the economy ... He's got a better vice presidential partner," Clinton said to a crescendo of applause.
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Source: ABC News Blogs
NewsDateTime: 10/4/2008

Recent Comments
... hired to lead the investigation by Oct. 31 - four days before the ‘08 presidential ... real standing, which is one of the key things that Republicans have been talking ... Bush was elected, in a country where the economy is in a shambles as a direct ...
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Source: Augusta Free Press
NewsDateTime: 10/5/2008

The format allows about five minutes for each question: two minutes for each candidate and one minute for what the co-chairman of the Commission on Presidential Debates, Frank J. Fahrenkopf Jr., described as “interplay” to be managed by Mr. Brokaw.
When the candidates meet tonight at Belmont University in Nashville, Tenn., for their second of three debates, the pressure will be on McCain, who is trailing in the polls, to convince people to reconsider their priorities as well as their votes. That means continuing his campaign's strategy of attacking Obama's judgment, analysts said. "He's got a very difficult task ahead of him," said Torie Clarke, a Republican strategist and ABC News political consultant. "He has to do something different. He has to say something that will change the game. He has to inject something into the system that will shake things up, because right now, it does not look good."

Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.

Published on: 9/26/2008 11:08:54 PM
Title: AP Analysis: The First McCain-Obama Debate
Categories: analysis:,News,debate,first,presidential,ap,mccain-obama,

Published on: 9/24/2008 5:48:13 PM

Friday, October 3, 2008

The Bailout Bill is now the Law

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The Bailout Bill is now the Law: Bush just signed it
While the initiative now shifts to the Treasury Department, armed with vast new powers to relieve stricken financial markets, Congress is launching its own, parallel oversight operation to ensure transparency and accountability in how these powers are used. It also has to meet vast new expectations on government's capacity to restore markets - and the lives of constituents - battered by the crisis. Beginning next week, Congress is also starting a series of hearings and investigations - just weeks before national elections - to identify who is to blame for the worst financial crisis since the Great Depression. Democratic lawmakers want to use them as a springboard for rapid legislation next session to reregulate financial markets.
"Those who most opposed government intervention in the economy for much of the past two decades were so successful in keeping the government away from regulating activities that should have been regulated, that the consequence is now a greater degree of intervention by the government in the economy," said Democratic Rep. Barney Frank, chairman of the House Financial Services Committee, after Friday's vote.

For now, the focus is on the Bush administration, which has three months to show that the powers it said were essential can make a difference. The new law gives the Treasury secretary other options, such as relying on insurance or loans to relieve the crisis. But over two weeks of congressional testimony and negotiations, Secretary Henry Paulson made the case that the key element in the plan is the power to buy up "troubled assets." Step One is setting up a process for buying "toxic," illiquid assets, such as mortgage-backed securities, that clogged credit markets and helped drive giant financial institutions in the US and around the world toward bankruptcy. "What we're going to see happen is the process of the auctions put into place to buy the securities from the banks. They will hire private companies to do that for them, because there isn't the capacity inside Treasury and they don't want to build one up. It can be managed by a couple of vendors," says Peter Morici, a professor at the University of Maryland School of Business and former chief economist of the US International Trade Commission.

But the process itself of sorting out assets in the new Troubled Assets Relief Program or TARP will be daunting, he adds. "Not all mortgage-backed securities have the same risk or potential default rate inside of these bonds. The real problem is telling which assets are alike so you can have a bidding process and set a price." House leaders, rebuffed on Monday by members on both sides of the aisle, needed 12 votes for victory in a revote on Friday. They easily surpassed that to win by a vote of 263 to 171. What changed is that members, swamped by calls from angry voters who opposed the rescue, this week began hearing from car dealers, small business owners, governors, and mayors who were worried about the impact of the credit crunch. "Over the last few days, a lot of members heard from Main Street businesses who are experiencing the front end of this credit crisis," says Rep. Paul Ryan (R) of Wisconsin, who says he expects to take a hit politically for his support of the bill, which is still highly unpopular with many Americans. "It's just beginning to sink in how dire this moment is.... Now, the public hasn't seen that yet." Calls from his constituents are still running 85 percent opposed, he said.
In the end, 91 Republicans voted with 172 Democrats to back the plan, up from 65 Republicans in the first vote on the plan on Monday. During the floor debate, Rep. Zoe Lofgren (D) of California said that, due to the credit crisis, "the state of California will not be able to meet payroll by the end of the month" if Congress fails to act. Democratic leaders also got more votes for the plan on Friday, thanks in part to commitments they made to black and Hispanic members that federal resources will be directed to help homeowners at risk of foreclosure. "Today was a day that I changed my mind, after talking to a considerable number of persons who indicated to me that they were having trouble with credit concerns," said Rep. Al Green (D) of Texas. Another deciding factor was assurances from Representative Frank that Democrats will "work very hard" to make sure that mortgages purchased by a reorganized Fannie Mae and Freddie Mac will be restructured so that homeowners can stay in their homes.
After signing the historic legislation on Friday, President Bush commended House leaders of both parties, "We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis across the country," he said. While most lawmakers are returning home to campaign this week, Congress could be called back into session, if necessary, as early as Monday. Meanwhile, congressional panels are gearing up for an unusual series of oversight hearings over the break, including the causes and effects of the bailout of American International Group (AIG) insurance company (next Monday) the bankruptcy of Lehman Brothers investment bank (Tuesday), the impact of the financial crisis on workers' retirement security (Tuesday), the regulation of hedge funds (Oct. 16), and the breakdown of credit-rating agencies (Oct. 22).
"The eye now is to the future: To shine the bright light of accountability on what is happening in our financial markets so that it doesn't happen again," said House Speaker Nancy Pelosi, after the vote. Upcoming committee hearings "will tell us how we got to this place and ferret out the abuses," she added. Republicans, meanwhile, are urging investigations into why Democrats over the years blocked GOP measures to curb mortgage giants Fannie Mae and Freddie Mac, now operating under a federal conservatorship.

Housing bailout bill creates national fingerprint registry | Politics ...
... post by Declan McCullagh on News - Politics and Law. ... Housing bailout bill creates national fingerprint registry ... Well I am offended by a bail out, these companies made bad ...
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McCain and His Campaign Blame Obama and Democrats for Bailout Bill's ...
In Des Moines, Iowa, Sen. John McCain, R-Ariz., said the following: "Senator Obama and his allies in Congress infused unnecessary partisanship into the process. Now is not the time ...
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NPR: Now We See It: The White House Bailout Proposal
Now We See It: The White House Bailout Proposal. Filed under: Understanding The Crisis ... ceiling is currently limited to 10.615 trillion dollars by law. This bill ...
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Treasury’s Financial-Bailout Proposal to Congress
... minute, the dude and his pals who created this crisis now ... that helps the common American Taxpayer who was sold a bill ... I’m concerned that the bail-out plan suggested by the ...
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Text of the Bailout Legislation » The Foundry
... Eight seems like a “cover-up of the bail-out ... has ever had. This is Section 8 of the bill as it now ... Preventing the Biggest Bailout of All Blair LAW, Ft Myers, FL 33913
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U.S. House sends Bush $700 billion Wall St. bailout
WASHINGTON, Oct 3 (Reuters) - The U.S. House of Representatives on Friday passed a $700 billion financial industry bailout bill. The landmark legislation now goes to President George W. Bush, who is expected to sign it into law
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House Passes Economic Recovery Bill
... to green-light earlier this week. President Bush quickly signed it into law. ... Zach Wamp, R-Tenn., another who voted against the measure earlier this week, now ... Bailout Bill Basics From TARP to Tax Breaks Recession Depression? Let Us Know The Note:
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Reversal of fortune: House approves $700-billion bailout bill
... approves the measure by a 263-171 vote. Bush quickly signs the bill into law. ... THE RECORD: A headline on an earlier version of this article said the bailout bill ... The bill now raises the cap on assets insured by the Federal Deposit Insurance ...
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Source: Los Angeles Times
NewsDateTime: 2 hours ago

Stocks slump despite bank bailout
... brutal week ended with President Bush signing the historic $700 billion bailout ... Anderson thinks the economy is in a recession now and will remain in one ... Measures of bank nervousness hit record levels Friday, even after the bill was signed into law.
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NewsDateTime: 2 hours ago

House starts voting on $700B bailout bill
President Bush was ready to sign it into law, and the Dow Jones industrial ... any of these Congress folk, who are going to vote Yay or Nay on the Bailout Bill ... Just take everything down to Bailout Highway 61. Now the Senator's daughter on the twelfth ...
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For Biden, the debate served as much as an introduction to American voters as a test of his mettle. Although the Delaware senator has served in Congress for more than 35 years, he isn't well known nationally. Two attempts to run for president, 20 years apart, were unsuccessful. His assignment Thursday was simply to maintain the momentum the Obama campaign has been building during the last three weeks. But along with that came a challenge posed by Palin's sex. He needed to walk a line between respectful and combative—and avoid coming off as patronizing or condescending. The McCain campaign has made a habit of terming attacks on Palin sexist or elitist. Palin was not burdened by such concerns and, as befitting her overnight rise from a state politician to a national star, she spent much of the affair showcasing her feisty, salt-of-the-earth personality, employing such phrases as "darn right" and "bless their hearts" and smiling and even winking at the audience. She referred to herself again as a "hockey mom" and said she was talking to "Joe Six-Pack." She said she appreciated the chance to talk to the country without "the filter" of the "mainstream media." At one point, smiling at the crowd, she said, "How long have I been at this, like five weeks? So there hasn't been a whole lot that I've promised, except to do what is right for the American people, put government back on the side of the American people, stop the greed and corruption on Wall Street." Along those lines, she portrayed herself and her running mate, John McCain, as "mavericks" and populists, saying together they would fix broken government. "Change is coming," she repeated like a mantra. But her folksiness masked a willingness to use a broad brush to attack Obama and Biden, repeatedly suggesting that Obama didn't support the military, saying he sought to make the United States beholden to foreign oil and pushed to increase taxes at every opportunity. Several times, Biden seemed frustrated. "Facts matter," he said at one point. Palin seemed most comfortable talking about her work as governor of Alaska, dealing with the energy industry. "The chant is 'drill, baby, drill.' And that's what we hear all across this country in our rallies because people are so hungry for those domestic sources of energy to be tapped into," she said. "They know that even in my own energy-producing state we have billions of barrels of oil and hundreds of trillions of cubic feet of clean, green natural gas." She succeeded Thursday in one crucial respect: re-establishing herself as a charismatic, composed performer. The evening had offered a needed opportunity to reverse a growing perception among voters that she lacks the intellectual firepower and experience to be a heartbeat away from the presidency. Her command of the issues had come under heavy fire in the last two weeks, largely because of her interviews with CBS' Katie Couric. Those interviews showed a rambling, sometimes incoherent side of the Alaska governor that had not surfaced in pitch-perfect stump speeches crafted by the McCain campaign. But after Thursday, that question may recede a bit as an election issue, switching again to whether McCain and Palin can present a convincing case that their administration would offer something different than the current one. And that's where Biden seemed the most commanding. Avoiding directly attacking Palin, he went after McCain again and again: on the economy, branding the Arizona senator as a deregulator who encouraged the current Wall Street crisis; on foreign policy by tying McCain to the war in Iraq; and on health care, where Biden labeled McCain's health care plan, which involves tax credits, "the ultimate Bridge to Nowhere." "Look, all you have to do is go down Union Street with me in Wilmington or go to Katie's Restaurant or walk into Home Depot with me where I spend a lot of time and you ask anybody in there whether or not the economic and foreign policy of this administration has made them better off in the last eight years," Biden said. "And then ask them whether there's a single major initiative that John McCain differs with the president on. On taxes, on Iraq, on Afghanistan, on the whole question of how to help education, on the dealing with health care." At one point near the end of the debate, Biden seemed to be overcome in referring to the car accident that killed his first wife and his baby daughter in 1972. At the close of the debate, both sides claimed victory. "All McCain and Palin are offering is more of the same," said Obama campaign manager David Plouffe. He said Palin "did a good job of articulating the McCain agenda—a failed agenda." Sen. Lindsey Graham (R-S.C.) said he was "very pleased that [Palin] was able to articulate in a way that people can understand the differences between Sen. McCain and Sen. Obama."
McCain officials say they are optimistic despite her falling credibility and likability in polls.
“Nobody who’s in the middle of a campaign takes a minute to panic,” an aide said. “Every single day, there’s an ebb and flow - that’s what makes these things exciting. She’s been there before. She’s done this before. She’s been successful. And we as a campaign expect she will rise to the occasion and be strong.”

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The Bailout Bill is now the Law: Bush just signed it

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hey were in the same room Thursday night, but Joe Biden and Sarah Palin often seemed to be participating in separate debates. One debate dealt with issues. The other served as a platform for Palin's unique brand of Alaskan-bred populism and twangy asides. On the campus of Washington University, the two vice presidential candidates showed off their wildly different styles born of disparate histories. The result was at times an oddly disjointed affair, where the two skittered and shifted off-topic. With the GOP ticket trailing in national polls, Palin spent most of the time on the attack. She was armed with talking points involving tax increases, domestic drilling for oil, critiques of Democrat Barack Obama's record on the war in Iraq and stinging one-liners. And she repeatedly attempted to steer the debate to allow her to use that ammunition, regardless of the question at hand. As a result, Biden, the longtime Washington insider, frequently was forced to explain the intricacies of congressional procedure and nuances of international diplomacy, often in a defensive posture.

PALIN: That is not so. FACT: The Senate has voted only once this year on legislation that would change bankruptcy laws to help distressed homeowners. John McCain was absent for that vote. Contrary to what Palin says, the McCain campaign acknowledges that he does not support those changes to bankruptcy laws.
VP candidates, Democratic Sen. Joe Biden and Republican Alaska Gov. Sarah Palin, are debating in St. Louis, Missouri, Thursday night. Gwen Ifill of PBS is the debate moderator. Here is a transcript of that debate, which is still going on:

PALIN: I am very thankful that we do have a good plan and the surge and the counterinsurgency strategy in Iraq that has proven to work, I am thankful that that is part of the plan implemented under a great American hero, General Petraeus, and pushed hard by another great American, Sen. John McCain.
I know that the other ticket opposed this surge, in fact, even opposed funding for our troops in Iraq and Afghanistan. Barack Obama voted against funding troops there after promising that he would not do so.
PALIN: And Senator Biden, I respected you when you called him out on that. You said that his vote was political and you said it would cost lives. And Barack Obama at first said he would not do that. He turned around under political pressure and he voted against funding the troops. We do have a plan for withdrawal. We don't need early withdrawal out of Iraq. We cannot afford to lose there or we're going to be no better off in the war in Afghanistan either. We have got to win in Iraq.
And with the surge that has worked we're now down to pre-surge numbers in Iraq. That's where we can be. We can start putting more troops in Afghanistan as we also work with our NATO allies who are there strengthening us and we need to grow our military. We cannot afford to lose against al Qaeda and the Shia extremists who are still there, still fighting us, but we're getting closer and closer to victory. And it would be a travesty if we quit now in Iraq.
IFILL: Senator?
BIDEN: Gwen, with all due respect, I didn't hear a plan. Barack Obama offered a clear plan. Shift responsibility to Iraqis over the next 16 months. Draw down our combat troops. Ironically the same plan that Maliki, the prime minister of Iraq and George Bush are now negotiating. The only odd man out here, only one left out is John McCain, number one. Number two, with regard to Barack Obama not quote funding the troops, John McCain voted the exact same way. John McCain voted against funding the troops because of an amendment he voted against had a timeline in it to draw down American troops. And John said I'm not going to fund the troops if in fact there's a time line. Barack Obama and I agree fully and completely on one thing. You've got to have a time line to draw down the troops and shift responsibility to the Iraqis.
We're spending $10 billion a month while Iraqis have an $80 billion surplus. Barack says it's time for them to spend their own money and have the 400,000 military we trained for them begin to take their own responsibility and gradually over 16 months, withdrawal. John McCain -- this is a fundamental difference between us, we'll end this war. For John McCain, there's no end in sight to end this war, fundamental difference. We will end this war.
IFILL: Governor?
PALIN: Your plan is a white flag of surrender in Iraq and that is not what our troops need to hear today, that's for sure. And it's not what our nation needs to be able to count on. You guys opposed the surge. The surge worked. Barack Obama still can't admit the surge works.
We'll know when we're finished in Iraq when the Iraqi government can govern its people and when the Iraqi security forces can secure its people. And our commanders on the ground will tell us when those conditions have been met. And Maliki and Talabani also in working with us are knowing again that we are getting closer and closer to that point, that victory that's within sight.
Now, you said regarding Senator McCain's military policies there, Senator Biden, that you supported a lot of these things. In fact, you said in fact that you wanted to run, you'd be honored to run with him on the ticket. That's an indication I think of some of the support that you had at least until you became the VP pick here.
You also said that Barack Obama was not ready to be commander in chief. And I know again that you opposed the move he made to try to cut off funding for the troops and I respect you for that. I don't know how you can defend that position now but I know that you know especially with your son in the National Guard and I have great respect for your family also and the honor that you show our military. Barack Obama though, another story there. Anyone I think who can cut off funding for the troops after promising not to is another story.
IFILL: Senator Biden?
BIDEN: John McCain voted to cut off funding for the troops. Let me say that again. John McCain voted against an amendment containing $1 billion, $600 million that I had gotten to get MRAPS, those things that are protecting the governor's son and pray god my son and a lot of other sons and daughters.
He voted against it. He voted against funding because he said the amendment had a time line in it to end this war. He didn't like that. But let's get straight who has been right and wrong. John McCain and Dick Cheney said while I was saying we would not be greeted as liberators, we would not - this war would take a decade and not a day, not a week and not six months, we would not be out of there quickly. John McCain was saying the Sunnis and Shias got along with each other without reading the history of the last 700 years. John McCain said there would be enough oil to pay for this. John McCain has been dead wrong. I love him. As my mother would say, god love him, but he's been dead wrong on the fundamental issues relating to the conduct of the war. Barack Obama has been right. There are the facts.
IFILL: Let's move to Iran and Pakistan. I'm curious about what you think starting with you Senator Biden. What's the greater threat, a nuclear Iran or an unstable Afghanistan? Explain why.
BIDEN: Well, they're both extremely dangerous. I always am focused, as you know Gwen, I have been focusing on for a long time, along with Barack on Pakistan. Pakistan already has nuclear weapons. Pakistan already has deployed nuclear weapons. Pakistan's weapons can already hit Israel and the Mediterranean. Iran getting a nuclear weapon would be very, very destabilizing. They are more than - they are not close to getting a nuclear weapon that's able to be deployed. So they're both very dangerous. They both would be game changers.
But look, here's what the fundamental problem I have with John's policy about terror instability. John continues to tell us that the central war in the front on terror is in Iraq. I promise you, if an attack comes in the homeland, it's going to come as our security services have said, it is going to come from al Qaeda planning in the hills of Afghanistan and Pakistan. That's where they live. That's where they are. That's where it will come from. And right now that resides in Pakistan, a stable government needs to be established. We need to support that democracy by helping them not only with their military but with their governance and their economic well-being.
There have been 7,000 madrasses built along that border. We should be helping them build schools to compete for those hearts and minds of the people in the region so that we're actually able to take on terrorism and by the way, that's where bin Laden lives and we will go at him if we have actually intelligence.
IFILL: Governor, nuclear Pakistan, unstable Pakistan, nuclear Iran? Which is the greater threat?
PALIN: Both are extremely dangerous, of course. And as for who coined that central war on terror being in Iraq, it was the General Petraeus and al Qaeda, both leaders there and it's probably the only thing that they're ever going to agree on, but that it was a central war on terror is in Iraq. You don't have to believe me or John McCain on that. I would believe Petraeus and the leader of al Qaeda.
An armed, nuclear armed especially Iran is so extremely dangerous to consider. They cannot be allowed to acquire nuclear weapons period. Israel is in jeopardy of course when we're dealing with Ahmadinejad as a leader of Iran. Iran claiming that Israel as he termed it, a stinking corpse, a country that should be wiped off the face of the earth. Now a leader like Ahmadinejad who is not sane or stable when he says things like that is not one whom we can allow to acquire nuclear energy, nuclear weapons. Ahmadinejad, Kim Jong Il, the Castro brothers, others who are dangerous dictators are one that Barack Obama has said he would be willing to meet with without preconditions being met first.
And an issue like that taken up by a presidential candidate goes beyond naivete and goes beyond poor judgment. A statement that he made like that is downright dangerous because leaders like Ahmadinejad who would seek to acquire nuclear weapons and wipe off the face of the earth an ally like we have in Israel should not be met with without preconditions and diplomatic efforts being undertaken first.
IFILL: Governor and senator, I want you both to respond to this. Secretaries of state Baker, Kissinger, Powell, they have all advocated some level of engagement with enemies. Do you think these former secretaries of state are wrong on that?
PALIN: No and Dr. Henry Kissinger especially. I had a good conversation with him recently. And he shared with me his passion for diplomacy. And that's what John McCain and I would engage in also. But again, with some of these dictators who hate America and hate what we stand for, with our freedoms, our democracy, our tolerance, our respect for women's rights, those who would try to destroy what we stand for cannot be met with just sitting down on a presidential level as Barack Obama had said he would be willing to do. That is beyond bad judgment. That is dangerous.
No, diplomacy is very important. First and foremost, that is what we would engage in. But diplomacy is hard work by serious people. It's lining out clear objectives and having your friends and your allies ready to back you up there and have sanctions lined up before any kind of presidential summit would take place.
IFILL: Senator?
BIDEN: Can I clarify this? This is simply not true about Barack Obama. He did not say sit down with Ahmadinejad.
BIDEN: The fact of the matter is, it surprises me that Senator McCain doesn't realize that Ahmadinejad does not control the security apparatus in Iran. The theocracy controls the security apparatus, number one.
Number two, five secretaries of state did say we should talk with and sit down.
Now, John and Governor Palin now say they're all for -- they have a passion, I think the phrase was, a passion for diplomacy and that we have to bring our friends and allies along.
Our friends and allies have been saying, Gwen, "Sit down. Talk. Talk. Talk." Our friends and allies have been saying that, five secretaries of state, three of them Republicans.
And John McCain has said he would go along with an agreement, but he wouldn't sit down. Now, how do you do that when you don't have your administration sit down and talk with the adversary?
And look what President Bush did. After five years, he finally sent a high-ranking diplomat to meet with the highest-ranking diplomats in Iran, in Europe, to try to work out an arrangement.
Our allies are on that same page. And if we don't go the extra mile on diplomacy, what makes you think the allies are going to sit with us?
The last point I'll make, John McCain said as recently as a couple of weeks ago he wouldn't even sit down with the government of Spain, a NATO ally that has troops in Afghanistan with us now. I find that incredible.
IFILL: Governor, you mentioned Israel and your support for Israel.
PALIN: Yes.
IFILL: What has this administration done right or wrong -- this is the great, lingering, unresolved issue, the Israeli-Palestinian conflict -- what have they done? And is a two-state solution the solution?
PALIN: A two-state solution is the solution. And Secretary Rice, having recently met with leaders on one side or the other there, also, still in these waning days of the Bush administration, trying to forge that peace, and that needs to be done, and that will be top of an agenda item, also, under a McCain-Palin administration.
Israel is our strongest and best ally in the Middle East. We have got to assure them that we will never allow a second Holocaust, despite, again, warnings from Iran and any other country that would seek to destroy Israel, that that is what they would like to see.
We will support Israel. A two-state solution, building our embassy, also, in Jerusalem, those things that we look forward to being able to accomplish, with this peace-seeking nation, and they have a track record of being able to forge these peace agreements.
They succeeded with Jordan. They succeeded with Egypt. I'm sure that we're going to see more success there, also.
It's got to be a commitment of the United States of America, though. And I can promise you, in a McCain-Palin administration, that commitment is there to work with our friends in Israel.
IFILL: Senator?
BIDEN: Gwen, no one in the United States Senate has been a better friend to Israel than Joe Biden. I would have never, ever joined this ticket were I not absolutely sure Barack Obama shared my passion.
But you asked a question about whether or not this administration's policy had made sense or something to that effect. It has been an abject failure, this administration's policy.
In fairness to Secretary Rice, she's trying to turn it around now in the seventh or eighth year.
Here's what the president said when we said no. He insisted on elections on the West Bank, when I said, and others said, and Barack Obama said, "Big mistake. Hamas will win. You'll legitimize them." What happened? Hamas won.
When we kicked -- along with France, we kicked Hezbollah out of Lebanon, I said and Barack said, "Move NATO forces in there. Fill the vacuum, because if you don't know -- if you don't, Hezbollah will control it."
Now what's happened? Hezbollah is a legitimate part of the government in the country immediately to the north of Israel.
The fact of the matter is, the policy of this administration has been an abject failure.
And speaking of freedom being on the march, the only thing on the march is Iran. It's closer to a bomb. Its proxies now have a major stake in Lebanon, as well as in the Gaza Strip with Hamas.
We will change this policy with thoughtful, real, live diplomacy that understands that you must back Israel in letting them negotiate, support their negotiation, and stand with them, not insist on policies like this administration has.
IFILL: Has this administration's policy been an abject failure, as the senator says, Governor?
PALIN: No, I do not believe that it has been. But I'm so encouraged to know that we both love Israel, and I think that is a good thing to get to agree on, Senator Biden. I respect your position on that.
No, in fact, when we talk about the Bush administration, there's a time, too, when Americans are going to say, "Enough is enough with your ticket," on constantly looking backwards, and pointing fingers, and doing the blame game.
There have been huge blunders in the war. There have been huge blunders throughout this administration, as there are with every administration.
But for a ticket that wants to talk about change and looking into the future, there's just too much finger-pointing backwards to ever make us believe that that's where you're going.
Positive change is coming, though. Reform of government is coming. We'll learn from the past mistakes in this administration and other administrations.
And we're going to forge ahead with putting government back on the side of the people and making sure that our country comes first, putting obsessive partisanship aside.
That's what John McCain has been known for in all these years. He has been the maverick. He has ruffled feathers.
But I know, Senator Biden, you have respected for them that, and I respect you for acknowledging that. But change is coming.
IFILL: Just looking backwards, Senator?
BIDEN: Look, past is prologue, Gwen. The issue is, how different is John McCain's policy going to be than George Bush's? I haven't heard anything yet.
I haven't heard how his policy is going to be different on Iran than George Bush's. I haven't heard how his policy is going to be different with Israel than George Bush's. I haven't heard how his policy in Afghanistan is going to be different than George Bush's. I haven't heard how his policy in Pakistan is going to be different than George Bush's.
It may be. But so far, it is the same as George Bush's. And you know where that policy has taken us.
We will make significant change so, once again, we're the most respected nation in the world. That's what we're going to do.
IFILL: Governor, on another issue, interventionism, nuclear weapons. What should be the trigger, or should there be a trigger, when nuclear weapons use is ever put into play?
PALIN: Nuclear weaponry, of course, would be the be all, end all of just too many people in too many parts of our planet, so those dangerous regimes, again, cannot be allowed to acquire nuclear weapons, period.
Our nuclear weaponry here in the U.S. is used as a deterrent. And that's a safe, stable way to use nuclear weaponry.
But for those countries -- North Korea, also, under Kim Jong Il -- we have got to make sure that we're putting the economic sanctions on these countries and that we have friends and allies supporting us in this to make sure that leaders like Kim Jong Il and Ahmadinejad are not allowed to acquire, to proliferate, or to use those nuclear weapons. It is that important.
Can we talk about Afghanistan real quick, also, though?
IFILL: Certainly.
PALIN: OK, I'd like to just really quickly mention there, too, that when you look back and you say that the Bush administration's policy on Afghanistan perhaps would be the same as McCain, and that's not accurate.
The surge principles, not the exact strategy, but the surge principles that have worked in Iraq need to be implemented in Afghanistan, also. And that, perhaps, would be a difference with the Bush administration.
Now, Barack Obama had said that all we're doing in Afghanistan is air-raiding villages and killing civilians. And such a reckless, reckless comment and
untrue comment, again, hurts our cause.
That's not what we're doing there. We're fighting terrorists, and we're securing democracy, and we're building schools for children there so that there is opportunity in that country, also. There will be a big difference there, and we will win in -- in Afghanistan, also.
IFILL: Senator, you may talk about nuclear use, if you'd like, and also about Afghanistan.
BIDEN: I'll talk about both. With Afghanistan, facts matter, Gwen.
The fact is that our commanding general in Afghanistan said today that a surge -- the surge principles used in Iraq will not -- well, let me say this again now -- our commanding general in Afghanistan said the surge principle in Iraq will not work in Afghanistan, not Joe Biden, our commanding general in Afghanistan.
He said we need more troops. We need government-building. We need to spend more money on the infrastructure in Afghanistan.
Look, we have spent more money -- we spend more money in three weeks on combat in Iraq than we spent on the entirety of the last seven years that we have been in Afghanistan building that country.
Let me say that again. Three weeks in Iraq; seven years, seven years or six-and-a-half years in Afghanistan. Now, that's number one.
Number two, with regard to arms control and weapons, nuclear weapons require a nuclear arms control regime. John McCain voted against a Comprehensive Nuclear-Test-Ban Treaty that every Republican has supported.
John McCain has opposed amending the Nuclear-Test-Ban Treaty with an amendment to allow for inspections.
John McCain has not been -- has not been the kind of supporter for dealing with -- and let me put it another way. My time is almost up.
Barack Obama, first thing he did when he came to the United States Senate, new senator, reached across the aisle to my colleague, Dick Lugar, a Republican, and said, "We've got to do something about keeping nuclear weapons out of the hands of terrorists."
They put together a piece of legislation that, in fact, was serious and real. Every major -- I shouldn't say every -- on the two at least that I named, I know that John McCain has been opposed to extending the arms control regime in the world.
IFILL: Governor?
PALIN: Well, first, McClellan did not say definitively the surge principles would not work in Afghanistan. Certainly, accounting for different conditions in that different country and conditions are certainly different. We have NATO allies helping us for one and even the geographic differences are huge but the counterinsurgency principles could work in Afghanistan. McClellan didn't say anything opposite of that. The counterinsurgency strategy going into Afghanistan, clearing, holding, rebuilding, the civil society and the infrastructure can work in Afghanistan. And those leaders who are over there, who have also been advising George Bush on this have not said anything different but that.
IFILL: Senator.
PALIN: Well, our commanding general did say that. The fact of the matter is that again, I'll just put in perspective, while Barack and I and Chuck Hagel and Dick Lugar have been calling for more money to help in Afghanistan, more troops in Afghanistan, John McCain was saying two years ago quote, "The reason we don't read about Afghanistan anymore in the paper, it's succeeded.
Barack Obama was saying we need more troops there. Again, we spend in three weeks on combat missions in Iraq, more than we spent in the entire time we have been in Afghanistan. That will change in a Barack Obama administration.
IFILL: Senator, you have quite a record, this is the next question here, of being an interventionist. You argued for intervention in Bosnia and Kosovo, initially in Iraq and Pakistan and now in Darfur, putting U.S. troops on the ground. Boots on the ground. Is this something the American public has the stomach for?
BIDEN: I think the American public has the stomach for success. My recommendations on Bosnia. I admit I was the first one to recommend it. They saved tens of thousands of lives. And initially John McCain opposed it along with a lot of other people. But the end result was it worked. Look what we did in Bosnia. We took Serbs, Croats and Bosniaks, being told by everyone, I was told by everyone that this would mean that they had been killing each other for a thousand years, it would never work.
There's a relatively stable government there now as in Kosovo. With regard to Iraq, I indicated it would be a mistake to -- I gave the president the power. I voted for the power because he said he needed it not to go to war but to keep the United States, the UN in line, to keep sanctions on Iraq and not let them be lifted.
I, along with Dick Lugar, before we went to war, said if we were to go to war without our allies, without the kind of support we need, we'd be there for a decade and it'd cost us tens of billions of dollars. John McCain said, no, it was going to be OK.
I don't have the stomach for genocide when it comes to Darfur. We can now impose a no-fly zone. It's within our capacity. We can lead NATO if we're willing to take a hard stand. We can, I've been in those camps in Chad. I've seen the suffering, thousands and tens of thousands have died and are dying. We should rally the world to act and demonstrate it by our own movement to provide the helicopters to get the 21,000 forces of the African Union in there now to stop this genocide.
IFILL: Thank you, senator. Governor.
PALIN: Oh, yeah, it's so obvious I'm a Washington outsider. And someone just not used to the way you guys operate. Because here you voted for the war and now you oppose the war. You're one who says, as so many politicians do, I was for it before I was against it or vice- versa. Americans are craving that straight talk and just want to know, hey, if you voted for it, tell us why you voted for it and it was a war resolution.
And you had supported John McCain's military strategies pretty adamantly until this race and you had opposed very adamantly Barack Obama's military strategy, including cutting off funding for the troops that attempt all through the primary.
And I watched those debates, so I remember what those were all about.
But as for as Darfur, we can agree on that also, the supported of the no-fly zone, making sure that all options are on the table there also.
America is in a position to help. What I've done in my position to help, as the governor of a state that's pretty rich in natural resources, we have a $40 billion investment fund, a savings fund called the Alaska Permanent Fund.
When I and others in the legislature found out we had some millions of dollars in Sudan, we called for divestment through legislation of those dollars to make sure we weren't doing anything that would be seen as condoning the activities there in Darfur. That legislation hasn't passed yet but it needs to because all of us, as individuals, and as humanitarians and as elected officials should do all we can to end those atrocities in that region of the world.
IFILL: Is there a line that should be drawn about when we decide to go in?
BIDEN: Absolutely. There is a line that should be drawn.
IFILL: What is it?
BIDEN: The line that should be drawn is whether we A, first of all have the capacity to do anything about it number one. And number two, certain new lines that have to be drawn internationally. When a country engages in genocide, when a country engaging in harboring terrorists and will do nothing about it, at that point that country in my view and Barack's view forfeits their right to say you have no right to intervene at all.
The truth of the matter is, though, let's go back to John McCain's strategy. I never supported John McCain's strategy on the war. John McCain said exactly what Dick Cheney said, go back and look at Barack Obama's statements and mine. Go look at joebiden.com, contemporaneously, held hearings in the summer before we went to war, saying if we went to war, we would not be greeted as liberator, we would have a fight between Sunnis and Shias, we would be tied down for a decade and cost us hundreds of billions of dollars.
John McCain was saying the exact opposite. John McCain was lock- step with Dick Cheney at that point how this was going to be easy. So John McCain's strategy in this war, not just whether or not to go, the actual conduct of the war has been absolutely wrong from the outset.
IFILL: Governor.
PALIN: I beg to disagree with you, again, here on whether you supported Barack Obama or John McCain's strategies. Here again, you can say what you want to say a month out before people are asked to vote on this, but we listened to the debates.
I think tomorrow morning, the pundits are going to start do the who said what at what time and we'll have proof of some of this, but, again, John McCain who knows how to win a war. Who's been there and he's faced challenges and he knows what evil is and knows what it takes to overcome the challenges here with our military.
He knows to learn from the mistakes and blunders we have seen in the war in Iraq, especially. He will know how to implement the strategies, working with our commanders and listening to what they have to say, taking the politics out of these war issues. He'll know how to win a war.
IFILL: Thank you, governor.
Probably the biggest cliche about the vice-presidency is that it's a heartbeat away, everybody's waiting to see what would happen if the worst happened. How would -- you disagree on some things from your principles, you disagree on drilling in Alaska, the National Wildlife Refuge, you disagree on the surveillance law, at least you have in the past. How would a Biden administration be different from an Obama administration if that were to happen.
BIDEN: God forbid that would ever happen, it would be a national tragedy of historic proportions if it were to happen.
But if it did, I would carry out Barack Obama's policy, his policies of reinstating the middle class, making sure they get a fair break, making sure they have access to affordable health insurance, making sure they get serious tax breaks, making sure we can help their children get to college, making sure there is an energy policy that leads us in the direction of not only toward independence and clean environment but an energy policy that creates 5 million new jobs, a foreign policy that ends this war in Iraq, a foreign policy that goes after the one mission the American public gave the president after 9/11, to get and capture or kill bin Laden and to eliminate al Qaeda. A policy that would in fact engage our allies in making sure that we knew we were acting on the same page and not dictating.
And a policy that would reject the Bush Doctrine of preemption and regime change and replace it with a doctrine of prevention and cooperation and, ladies and gentlemen, this is the biggest ticket item that we have in this election.
This is the most important election you will ever, ever have voted in, any of you, since 1932. And there's such stark differences, I would follow through on Barack's policies because in essence, I agree with every major initiative he is suggesting.
IFILL: Governor.
PALIN: And heaven forbid, yes, that would ever happen, no matter how this ends up, that that would ever happen with either party.
As for disagreeing with John McCain and how our administration would work, what do you expect? A team of mavericks, of course we're not going to agree on 100 percent of everything. As we discuss ANWR there, at least we can agree to disagree on that one. I will keep pushing him on ANWR. I have so appreciated he has never asked me to check my opinions at the door and he wants a deliberative debate and healthy debate so we can make good policy.
What I would do also, if that were to ever happen, though, is to continue the good work he is so committed to of putting government back on the side of the people and get rid of the greed and corruption on Wall Street and in Washington.
I think we need a little bit of reality from Wasilla Main Street there, brought to Washington, D.C.

John Neffinger: The Nightmare VP Debate Scenario: Biden, Beware!
Does Palin have folksy stories? You betcha ... that she is not ready to be VP. But while this debate ... for everyone else, the V.P. debate between Biden the statesman and Palin ...
more ...
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Cached

Daily Kos: State of the Nation
At the insistence of the McCain campaign, the Oct. 2 debate between the Republican nominee for vice president, Gov. Sarah Palin, and her Democratic rival, Senator Joseph R. Biden Jr ...
more ...
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Cached

Focus on John McCain & Sarah Palin
... another run at the question, and Governor Palin sticks ... Energy Might Be the Explosive Topic of the Biden-Palin Debate ... trail - Houston Chronicle October 2, 2008; VP debate: Palin ...
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CNN Political Ticker: All politics, all the time Blog Archive ...
... and honestly debate the issues ... about the issues. Mccain is keeping Palin away from the Press. Obama/Biden are ... President and Vice President. The McCain campaign also used Palin ...
more ...
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CNN Political Ticker: All politics, all the time Blog Archive ...
... He, Guilliani is on the wrong side of the issues as advocated by McCain and Palin ... of suburban America out here in the sticks. ... her on Meet the Press, et al and the VP debate.
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Spiro T. Palin
They smartly waited until they saw Biden, then they pounced with Palin, and a whole new world of ... him because of all of his other changes of postion on other issues. Lobo ... of them) over abuse of powers; doesn't know what the "VP does on a day ...
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Source: Common Dreams
NewsDateTime: 9/11/2008

Dem: Not Having Abortion Is Palin's 'Primary Qualification'
Having said that, I still can't find ONE qualification for Palin to be VP ... So I keep hearing the angry left scream that Palin used her kids as props. So, did Barry? Or Biden? ... stands for Does Not Connect) to political H-E-double hocky sticks
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Source: ABC News Blogs
NewsDateTime: 9/10/2008

Palin Takes Questions at a McCain Town Hall
Will Palin Make a Cameo on SNL? Obama Continues Debate in North Carolina Biden Says McCain Suffered "Fatal" Loss in Debate Fact Check: ... does not even have a basic foundamental understands of any of the issues she was asked. A poor choice for VP ...
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Source: ABC News Blogs
NewsDateTime: 9/18/2008

Matt Damon citing Internet rumors
Matt Damon basically Jason Bourne'd Governor Sarah Palin in the face today while in ... She's facing down Vladimir Putin and using the folksy stuff she learned at the ... and ran her mouth off for 35 years in D.C., she could be as qualified as Biden. But ...
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Source: The Superficial
NewsDateTime: 9/10/2008

Sarah Palin on faith, life and creation
I think that debate about issues leads to understanding and tolerance ... in her relatively short career this story tries to ... If you believe Obama/Biden are able to do that, then vote for them. If you think McCain/Palin more likely to get it done ...
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Source: Boston Globe
NewsDateTime: 8/29/2008

For Biden, the debate served as much as an introduction to American voters as a test of his mettle. Although the Delaware senator has served in Congress for more than 35 years, he isn't well known nationally. Two attempts to run for president, 20 years apart, were unsuccessful. His assignment Thursday was simply to maintain the momentum the Obama campaign has been building during the last three weeks. But along with that came a challenge posed by Palin's sex. He needed to walk a line between respectful and combative—and avoid coming off as patronizing or condescending. The McCain campaign has made a habit of terming attacks on Palin sexist or elitist. Palin was not burdened by such concerns and, as befitting her overnight rise from a state politician to a national star, she spent much of the affair showcasing her feisty, salt-of-the-earth personality, employing such phrases as "darn right" and "bless their hearts" and smiling and even winking at the audience. She referred to herself again as a "hockey mom" and said she was talking to "Joe Six-Pack." She said she appreciated the chance to talk to the country without "the filter" of the "mainstream media." At one point, smiling at the crowd, she said, "How long have I been at this, like five weeks? So there hasn't been a whole lot that I've promised, except to do what is right for the American people, put government back on the side of the American people, stop the greed and corruption on Wall Street." Along those lines, she portrayed herself and her running mate, John McCain, as "mavericks" and populists, saying together they would fix broken government. "Change is coming," she repeated like a mantra. But her folksiness masked a willingness to use a broad brush to attack Obama and Biden, repeatedly suggesting that Obama didn't support the military, saying he sought to make the United States beholden to foreign oil and pushed to increase taxes at every opportunity. Several times, Biden seemed frustrated. "Facts matter," he said at one point. Palin seemed most comfortable talking about her work as governor of Alaska, dealing with the energy industry. "The chant is 'drill, baby, drill.' And that's what we hear all across this country in our rallies because people are so hungry for those domestic sources of energy to be tapped into," she said. "They know that even in my own energy-producing state we have billions of barrels of oil and hundreds of trillions of cubic feet of clean, green natural gas." She succeeded Thursday in one crucial respect: re-establishing herself as a charismatic, composed performer. The evening had offered a needed opportunity to reverse a growing perception among voters that she lacks the intellectual firepower and experience to be a heartbeat away from the presidency. Her command of the issues had come under heavy fire in the last two weeks, largely because of her interviews with CBS' Katie Couric. Those interviews showed a rambling, sometimes incoherent side of the Alaska governor that had not surfaced in pitch-perfect stump speeches crafted by the McCain campaign. But after Thursday, that question may recede a bit as an election issue, switching again to whether McCain and Palin can present a convincing case that their administration would offer something different than the current one. And that's where Biden seemed the most commanding. Avoiding directly attacking Palin, he went after McCain again and again: on the economy, branding the Arizona senator as a deregulator who encouraged the current Wall Street crisis; on foreign policy by tying McCain to the war in Iraq; and on health care, where Biden labeled McCain's health care plan, which involves tax credits, "the ultimate Bridge to Nowhere." "Look, all you have to do is go down Union Street with me in Wilmington or go to Katie's Restaurant or walk into Home Depot with me where I spend a lot of time and you ask anybody in there whether or not the economic and foreign policy of this administration has made them better off in the last eight years," Biden said. "And then ask them whether there's a single major initiative that John McCain differs with the president on. On taxes, on Iraq, on Afghanistan, on the whole question of how to help education, on the dealing with health care." At one point near the end of the debate, Biden seemed to be overcome in referring to the car accident that killed his first wife and his baby daughter in 1972. At the close of the debate, both sides claimed victory. "All McCain and Palin are offering is more of the same," said Obama campaign manager David Plouffe. He said Palin "did a good job of articulating the McCain agenda—a failed agenda." Sen. Lindsey Graham (R-S.C.) said he was "very pleased that [Palin] was able to articulate in a way that people can understand the differences between Sen. McCain and Sen. Obama."
McCain officials say they are optimistic despite her falling credibility and likability in polls.
“Nobody who’s in the middle of a campaign takes a minute to panic,” an aide said. “Every single day, there’s an ebb and flow - that’s what makes these things exciting. She’s been there before. She’s done this before. She’s been successful. And we as a campaign expect she will rise to the occasion and be strong.”

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