Pelosi is the worst House Majority Leader in history. It is hard to believe a politician needing support to pass a bill make such an arrogant, stupid and just plain wrong speech.
The shame is that CA will keep sending her back.
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With the banking system tottering and the financial markets crashing she manages to keep 124 Democrats from voting for a distasteful but necessary market bail out.
She was assisted by the worst Democratic candidate in history, Hussein of the "Call me if you need me" dynasty.
Well, chums... Where was he?? He couldn't persuade 10 of the 124 Demos who voted nay to vote yes? Couldn't he "reach across the aisle" and persuade 10 of the 96 Repubs that voted Nay to vote yes?
Jim my man..tell me you're not buying this "700 billion or else!" jive.
ReplyDeleteWhen Bush, Clinton, McCain, and Obama agree on a course of action, wise men run for the hills...the fix is in.
Don't sweat the portfolio, once the Wall St. crew realizes a hand out windfall ain't coming, they'll sort out the bad from worthless loans, take the hit, and put money back on the street...it's all they have to sell.
-kdog
There's an old saying that goes, "When the elephant dance the mice hide."
ReplyDeleteWhether you are right or not I won't argue. But the facts are that millions of people who are currently retired (like me) and getting ready to retire, like the Boomers, have been stomped over the past 14 days or so.
And worse, if they take 401K or IRA money out they will pay a tax penalty and then be taxed again at whatever rate they are in.
Think of it like this. On a $500,000 portfolio that would yield $40,000 a 15% run off... and that's low in many cases, drops the value to $310,000... And instead of an 8$ return it becomes 4% and the retirement becomes $12,400... Instead of $60,000 with $20,000 Social Security it is $32,400..
That is a huge hit on the retirees that will circulate through the economy...
For anyone to play politics on this, and the Demos clearly are, is damnable at best.
It may be time to get the torches and pitch forks.