Look, The Wall Street Bailout Plan is a Done Deal...

[Junkdrawer]

The only thing being negotiated now is how many tax cuts, how much oversight, and how many Main Street features will be removed to get how much Republican support.

That's it. Democrats have announced they'll pass whatever deal is finally agreed upon. Democratic leverage is zero.

Republicans are saying things like "take out the Bankruptcy mortgage readjustment clause, and 5% more House Republicans will come along."

I'm glad Nancy Pelosi doesn't negotiate my employment contracts.

[Eric J in MN]

1. Will Nancy Pelosi go along with President Obama next year...

...or will she suddenly start fighting the president in January after years of caving to Bush?

[Junkdrawer]

2. She keeps it up and she'll be Minority Leader...maybe,,,n/t

[Myrina]

5. ... she may or may not get re-elected ...

... which may make her status in the Senate moot.

[Greyhound]

9. House. n/t

[lonestarnot]

23. Speaker of the HOUSE.

[redqueen]

3. How is our leverage zero?

Screw them! They made this fricking mess!

:nuke:

[Junkdrawer]

6. When you PROMISE to "pass something before Asian markets open Monday"...

you've pretty much laid down all your cards.

Look, if I'm negotiating a starting salary and someone says "The CEO says you start Monday or it's my job", I'm in a pretty good position.

[redqueen]

18. She said that?

WHY?!

:cry:

:banghead:

[Junkdrawer]

21. Harry Reid said exactly that..Pelosi said something similar...Ask them why...

...

Senate Democratic leader Harry Reid pushed a deadline for an agreement of 6 p.m. Sunday "because that's when the Asian markets open."

...

http://www.forbes.com/reuters/feeds/reuters/2008/09/27/2008-09-27T175845Z_01_N27458216_RTRIDST_0_FINANCIAL-TOPWRAP-4-PIX-TV-GRAPHIC.html

...

Shortly after U.S. stocks closed higher in hopes of a bailout deal before markets open on Monday morning, U.S. House Speaker Nancy Pelosi promised that Congress would work through the weekend and said progress was being made.

"The markets need a message from us ... that we understand time is important," Pelosi told reporters.

...

http://uk.reuters.com/article/businessNews/idUKTRE48P6S220080927?sp=true

[redqueen]

22. No point asking why... I just called and expressed my displeasure though.

Christ. Who taught these people how to negotiate?

[lonestarnot]

24. Guess he caved under the Chinese pressure.

[Junkdrawer]

27. Oh, you laugh, but if I'm the Chinese and I'm sitting on a mountain of US debt...

I'm asking myself how I can quietly diversify before the US Treasury rating drops from AAA...

[lonestarnot]

29. And you were under the impression I was laughing why?

[Junkdrawer]

30. Gallows Humor? Last year the US pushed MBS on China...

U.S. Urges China to Buy Mortgage-Backed Securities (Update2)

By Josephine Lau

July 13 (Bloomberg) -- The Bush administration is urging China's central bank to buy more government-backed mortgage bonds in an effort to sustain financing for U.S. home loans.

U.S. Department of Housing and Urban Development Secretary Alphonso Jackson is in Beijing to persuade the Chinese central bank to buy more securities from Ginnie Mae, a corporation under HUD that guarantees $417 billion in federally insured, fixed-rate mortgages.

``It's not a matter of whether they're going to do more business in mortgage-backed securities,'' Jackson told reporters in Beijing. ``It's who they're going to do business with.''

HUD aims to tap China's $1.33 trillion of foreign-currency reserves, the world's largest, after surging defaults on subprime mortgages caused the near-collapse last month of two hedge funds run by Bear Stearns Cos.

Moody's Investors Service on July 10 cut its ratings on $5.2 billion of bonds backed by subprime mortgages, which are loans taken by borrowers with poor or limited credit histories. Standard & Poor's yesterday downgraded $6.39 billion of such bonds. Fitch Ratings said it may lower ratings on $7.1 billion.

Ginnie Mae is ``in a better position than most'' to offer mortgage products because, unlike Fannie Mae and Freddie Mac, it provides the full backing of the U.S. government, Jackson said. Mortgage securities offer China's central bank better returns than U.S. Treasury bonds at the same level of credit risk, he said. China held $414 billion in U.S. Treasuries as of April, according to data compiled by Bloomberg.

....
http://www.bloomberg.com/apps/news?pid=20601080&sid=a2np7JOoSThQ&refer=asia

[lonestarnot]

31. You will not find sympathy for the Chinese with me. They bought under a bush now they can stay

there.

[msongs]

4. let's title it the "screw honest Americans Act" and be done with it...

people who are honest, work hard, and save money are punished by the US congressionally mandated financial system. Your 4% CD is skimmed by fed and state taxes and what's left is wiped out by federally mandated inflation. whatta system...if you're a congressperson,CEO or management.

Msongs
www.msongs.com/political-shirts.htm

[Hubert Flottz]

7. Nancy has books to sell, places to be, people to see!

[OmmmSweetOmmm]

12. Everything, but not for you and me.

[EmeraldCityGrl]

8. Should hold the charade together until just after the election...maybe we

just bought an election and don't know it.

[dkofos]

10. Bend over Amerika this one is REALLY GONNA HURT.

Thanks nancy for being such a leader:sarcasm:

[Junkdrawer]

11. Impeachment is off the table - Impeachable offenses skyrocket...

Who'd a thunk it? :shrug:

[dkofos]

16. SATAN?? (cheney)

[magellan]

13. Then they'll be responsible for what happens

The idiots. Fuck them.

[Junkdrawer]

14. If Pelosi ends up buying more than 40% of House Republicans...

I'd be real surprised.

This will be a Democrat/Bush bailout with a thin layer of Republican support.

[magellan]

17. I have the terrible feeling that

...she'll get just enough Repub support to pass it and no more. And it'll come from Repubs whose seats are safe.

It's fucking unbelievable. They really have no idea what they're doing. Almost every step they've taken in the last two years has been a misstep. When I think of all the political capital the Dems could have stored up by now by being smart instead of playing "safe" I want to strangle them.

This is going to hurt any Dem in the election, including Obama, who supports the bailout.

[NuttyFluffers]

15. it is the driest of powder, the most open of card hands, thus the most shrewd of politics!

oh wait, that doesn't make sense... aw crap! i've been screwned!

[sam sarrha]

19. if Pelosi Fucks this up can a Recal be started to get rid of her...

[dana_b]

20. yes - why not??

It would have to start in San Francisco though, imo. She's their rep. and it would at least look better if they got it going.

[sam sarrha]

32. well get busy.. send a message

[lonestarnot]

25. We should have done that long ago.

[prayin4rain]

26. I want Pelosi out of there.... she has been USELESS in this whole thing

and it makes me so mad that they do not care that WE THE PEOPLE do not want this!!! This isn't even a democracy anymore. I will not vote a democratic ticket this year, I will vote Obama, and then I will find out who on my ballot listened to the will of the people and vote for them, WHOEVER they are. Democracy is important to me.

[TexasObserver]

28. Nancy Pelosi and Harry Reid - worst Democratic leaders EVER

they are terrible, simply terrible

LAP DOGS to the Idiot King.