Video: Dennis Kucinich on the Rachel Maddow Show 9/30/08 talking bailout.

HUGO CHAVEZ WARNS OF MARKET HURRICANES (you know, the guy in the Middle East)

TROOPERGATE WITNESS FLIPS UNDER OATH

PALIN AND THE SUPREME COURT

MILTANTS TELL PAKISTAN THE FIGHT GOES ON

RICE ADMITS SHE LED HIGH LEVEL WHITE HOUSE TALKS ON TORTURE

U.S. DRONE FIRES ON PAKISTAN

RUSSIA/SEOUL SIGN $90 BILLION GAS DEAL

BAILOUT: THE NUMBERS DON’T ADD UP

TENSION GROW BETWEEN SYRIA AND LEBANON

PLUNGE IN EMBATTLED LENDER’S SHARES LEAVES LLOYDS PAYING BILLIONS TOO MUCH

BAGHDAD TO PAY SUNNI ARAB GROUPS

From TPM (great post at link)

Lester Brown
Jammin the Blues

Watch CBS Videos Online

Video: Katie Couric interview with Sarah Palin 9/30/08 She brought McINeedAMap with her.

Video: Palin making fun of Biden’s age today, then denying it. This from the woman who’s running with McOneFootintheGrave. Does anyone else see the evil, nasty streak in this woman? Besides being so far out of her league, I think she’s not a very nice person. I hope Biden chews her up and spits her out Thursday night…..in an oh so nice way.

Video: Does John McCain think Venezuela is in the middle east? Or does he think Hugo Chavez is the leader of a middle east country?
McCain:
ensuring that America is secure, and not dependent on oil from people like Hugo Chavez or other parts of the Middle East which is, we know, could be destabilized under certain sets of circumstances

Video of Sarah Palin 2006 Alaska’s Governor’s Debate

I watched this today to get a feel for how she might do Thursday night. Of course, she’s talking about things she actually an opinion about here.

Video of Wyatt Cenac from the Daily Show returns to Florida to see how some older Jewish residents feel about the first presidential debate. Too funny!

David Letterman continues to fry McCain about his no show. Julia Louis-Dreyfus chimes in.

McCain takes hit from bailout collapse

WASHINGTON (CNN) — The House’s failure to pass a $700 billion bailout package Monday not only held back billions for Wall Street, but also was a major blow to Sen. John McCain’s presidential campaign.

“Even before the House vote, voters blamed Republicans more than Democrats for the crisis. Then McCain suspended his campaign to come back to Washington to rally support for a rescue plan,” said Bill Schneider, a CNN political analyst. “He failed, so he gets blamed by both supporters and opponents of the rescue plan.”

During a campaign event in Des Moines, Iowa, on Tuesday, McCain appeared to distance himself from Monday’s House vote, saying the congressional inaction had “every American and the entire economy at the gravest risk.”

“Yesterday, the country and the world looked to Washington for leadership, and Congress once again came up empty-handed,” he said.

I am so not knowledgeable about financial crap. I’ve been reading this morning about CDS, and this is some scary shit.

As Congress wrestles with another bailout bill to try to contain the financial contagion, there’s a potential killer bug out there whose next movement can’t be predicted: the Credit Default Swap.

In just over a decade these privately traded derivatives contracts have ballooned from nothing into a $54.6 trillion market. CDS are the fastest-growing major type of financial derivatives. More important, they’ve played a critical role in the unfolding financial crisis. First, by ostensibly providing “insurance” on risky mortgage bonds, they encouraged and enabled reckless behavior during the housing bubble.

“If CDS had been taken out of play, companies would’ve said, ‘I can’t get this [risk] off my books,’” says Michael Greenberger, a University of Maryland law professor and former director of trading and markets at the Commodity Futures Trading Commission. “If they couldn’t keep passing the risk down the line, those guys would’ve been stopped in their tracks. The ultimate assurance for issuing all this stuff was, ‘It’s insured.’”

Second, terror at the potential for a financial Ebola virus radiating out from a failing institution and infecting dozens or hundreds of other companies - all linked to one another by CDS and other instruments - was a major reason that regulators stepped in to bail out Bear Stearns and buy out AIG (AIG, Fortune 500), whose calamitous descent itself was triggered by losses on its CDS contracts (see “Hank’s Last Stand”).

More at CNN Money

MCCAIN, GRAMM AND CDS

MORE ONPHIL “NATION OF WHINERS” GRAMM AND CDSs

Before the election of 2000 was even decided, Bush was already moving in to the White House. Nerve? Yes. Gall? Yes.

That’s the same nerve and gall we’re seeing in mavericky John McCain here:

McCain urges Treasury Department to take action

DES MOINES, Iowa - Republican presidential nominee John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen.

Opening a business round-table Tuesday in Des Moines, Iowa, McCain said he has urged the Treasury to use its exchange stabilization fund “as creatively as possible” to backstop the market crisis. He says officials also should use the authority granted in a housing bill to purchase up to a trillion dollars in mortgages.

McCain decried the defeat of the financial bailout measure in the House, and he warned that the nation’s political leaders will have to take risks even though solutions to the crisis may be unpopular.

The man does not know what he’s doing.

(HT: Bat)

Anybody who’s been around this blog long enough will remember Bur$atil. I could go back further…….but did this chick know what was going down or what? Amazing. Here’s a history of some of her comments. I’ve been thinking about her alot the past few weeks…..wondering where she is. If you read this…… hope you are healthy and doing ok!!

2/24/08 Hey Guys, I read you from time to time… is so much to catch on. Well, while the media craze for Obama and the McCain lobbist… our infrastructure will be sold to the financiers. Remember, Wall Street and the whole financial system is broke.

3/1/08 The financial system is totally broken down. Banks bankrupt, the FED printing money like crazy, inflation soars… and Bloomberg/ Arnie will control state and federal budgets, the wars expanding, the oil over 103 , gold over 980, platinum over 2000, uranium ….we are going to collapse globaly. This is already long time in process.
By EIR and Global collpase of banks, stocks, companies, no securitation, municipal bonds, bond insurers, insurers, cell phone companies… al reporting billions in “write-downs”.

12/17/07 Sir Alan “Bubbles” Greenspan and his priting of dollar machine is leaving inflation. Ben “Helicopter” Bernanke is trying to bailout the bankrupt banks like Citibank, JP Morgan Chase, Wachowia, Merryl Lynch, Lehman Brothers, Bearn Stearns, Golman Sachs, Fannie Mae, Freddie Mac, Sallie Mae, Bank of America, the british banks like Barclay, Royal Scotland Bank, the Swiss Bank UBS, the bankrupt Northen Rock, the French Paribas, the German IKB, Sachen and every bank is dead, broke. The stole the money , the swindle that Alan “bubbles” Greenspan with the Federal Reserve, the Bank of England, the European Central Bank and all the Central Banks with the orders of the Basel bank the Bank of International Settlements who is the Central banks of Central banks prepare to broke the whole world.
Now the Moody , Fithc and others are lowering the credit rates in the debt insurance that is broke.
ANd the pensions of public workers in California with Calpers, in Colorado with Pera, and every pension in the world will be privatized in the hands of the Wall Street, London bankers and Hedge Funds. My friends, the whole is broke and the collapse of the whole Financial/Monetary System is here. The food , oil, gas is tooo expensive. Now foreclosures will be less money to pay for clothes, food, education, vacation, and all the expenses. Less taxes for towns, can create a FISCAL crisis.
We have a
financial/monetary/banking/housing/energy/political/fooodinflation/tax/insurance/human/famine crisis.

9/15/07 Soon all banks do not have liquidity to cover their accounts.
The liquidity “crunch”.
You bet. The financial meltdown will leave billions of dollars in the air, and millions in poverty.
Today Englad… tomorrow … Europe… Asia, Latin America and of course US.Wait to Bernanke to open his mouth and rock the world entire economy.
The looting of the world economy, thanks to KI$$$$$$$$$$$$$$$$$$$$$inger men.

Read more »

Anybody here remember Bur$atil? Wish she were around now……I’d love to hear what she has to say.

The financial system is blowing up. Don’t listen to the experts; just look at the numbers. Last week, according to Reuters, “U.S. banks borrowed a record amount from the Federal Reserve nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression.” The Fed opened the various “auction facilities” to create the appearance that insolvent banks were thriving businesses, but they are not. They’re dead; their liabilities exceed their assets. Now the Fed is desperate because the hundreds of billions of dollars of mortgage-backed securities (MBS) in the banks vaults have bankrupt the entire system and the Fed’s balance sheet is ballooning by the day. The market for MBS will not bounce back in the foreseeable future and the banks are unable to roll-over their short term debt. Game over. The Federal Reserve itself is in danger. So, it’s on to Plan B; which is to dump all the toxic sludge on the taxpayer before he realizes that the whole system is cratering and his life is about to change forever. It’s called the Paulson Plan, a $700 billion boondoggle which has already been disparaged by every economist of merit in the country.

More at Global Research

H/T Bro