MCCAIN TO SUSPEND CAMPAIGN AND WANTS DEBATE DELAY; FOCUS ON ECONOMY - Page 9 - Mercedes-Benz Forum

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post #81 of 259 (permalink) Old 09-24-2008, 08:04 PM
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It only seems that way in your over-medicated state...
I know, but Law Enforcement keep saying that the War on Drugs in Kentucky is being won. They say that as a mobile meth lab blows up on I-75 about once a month. I think they are lying.

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post #82 of 259 (permalink) Old 09-24-2008, 08:25 PM Thread Starter
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BUSH ASKS OBAMA TO COME BACK TO DC... DEVELOPING...

BREAKING NEWS: Obama Accepts Bush Invitation To Meet In Washington

WASHINGTON -- With extraordinary stakes on the line, President Bush has invited both presidential candidates and the leaders of the House and Senate to the White House on Thursday in hopes of securing a bill to rescue the economy.

Bush took the unusual step Wednesday night of calling Democratic Sen. Barack Obama directly to invite him to the meeting, White House press secretary Dana Perino said. An Obama spokesman said the senator would attend. The White House has also invited Republican Sen. John McCain.

Perino said the goal of the session is to make progress -- fast -- on a bipartisan solution to the biggest economic crisis in decades.

Shortly after the announcement was made that Obama would attend the meeting, the presidential candidates issued a joint statement Wednesday night in which they said the American people are facing a moment of economic crisis.

Moments before Bush's scheduled address to the nation, the Republican and Democratic candidates said now is the time for both political parties to come together in the spirit of cooperation for the sake of the American people.

They said the $700 billion plan the administration has proposed to bail out the financial industry is flawed, but that the effort to protect the U.S. economy must not fail.

Perino said the call between Bush and Obama lasted several minutes and was "a good conversation."

Obama spokesman Bill Burton said the Democratic presidential contender "will continue to work in a bipartisan spirit and do whatever is necessary to come up with a final solution."

Details of the meeting were still being determined.

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post #83 of 259 (permalink) Old 09-24-2008, 08:27 PM Thread Starter
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Obama-McCain Joint Statement

The American people are facing a moment of economic crisis. No matter how this began, we all have a responsibility to work through it and restore confidence in our economy. The jobs, savings, and prosperity of the American people are at stake.

"Now is a time to come together - Democrats and Republicans - in a spirit of cooperation for the sake of the American people. The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail. This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. Now is our chance to come together to prove that Washington is once again capable of leading this country."

Speaking for himself, Senator Obama outlined the following principles that he calls on Senator McCain to support:

I believe that several core principles should guide this legislation. First, there must be oversight. We should not hand over a blank check to the discretion of one man. We support an independent, bipartisan board to ensure accountability and complete transparency.

Second, we need to protect taxpayers. There should be a path for taxpayers to recover their money, and to turn a profit if Wall Street prospers.

Third, no Wall Street executive should profit from taxpayer dollars. This plan cannot be a welfare program for CEOs whose greed and irresponsibility has contributed to this crisis.

Fourth, we must help families who are struggling to stay in their homes. We cannot bail out Wall Street without helping millions of families facing foreclosure on Main Street.

Fifth, we both agree that this financial rescue package should move on its own without any earmarks or other measures. We have different views about the need for other action, but this must be a clean bill.

This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. This is not a Democratic problem or a Republican problem - this is an American problem. Now, we must find an American solution.

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post #84 of 259 (permalink) Old 09-24-2008, 08:29 PM
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BREAKING NEWS: Obama Accepts Bush Invitation To Meet In Washington

WASHINGTON -- With extraordinary stakes on the line, President Bush has invited both presidential candidates and the leaders of the House and Senate to the White House on Thursday in hopes of securing a bill to rescue the economy.

Bush took the unusual step Wednesday night of calling Democratic Sen. Barack Obama directly to invite him to the meeting, White House press secretary Dana Perino said. An Obama spokesman said the senator would attend. The White House has also invited Republican Sen. John McCain.

Perino said the goal of the session is to make progress -- fast -- on a bipartisan solution to the biggest economic crisis in decades.

Shortly after the announcement was made that Obama would attend the meeting, the presidential candidates issued a joint statement Wednesday night in which they said the American people are facing a moment of economic crisis.

Moments before Bush's scheduled address to the nation, the Republican and Democratic candidates said now is the time for both political parties to come together in the spirit of cooperation for the sake of the American people.

They said the $700 billion plan the administration has proposed to bail out the financial industry is flawed, but that the effort to protect the U.S. economy must not fail.

Perino said the call between Bush and Obama lasted several minutes and was "a good conversation."

Obama spokesman Bill Burton said the Democratic presidential contender "will continue to work in a bipartisan spirit and do whatever is necessary to come up with a final solution."

Details of the meeting were still being determined.
As Reid said earlier, the Congress and the Administration have a process in place. It was correct that Bush made the call. Not McCain and not Obama.

This is much like the Pakistani bombing. Neither candidate needed to be making public policy statements regarding action [only one did]. We only have on government at a time. Neither Obama or McCain run it. Bush, Reid and Pelosi do.

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post #85 of 259 (permalink) Old 09-24-2008, 08:31 PM
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The American people are facing a moment of economic crisis. No matter how this began, we all have a responsibility to work through it and restore confidence in our economy. The jobs, savings, and prosperity of the American people are at stake.

"Now is a time to come together - Democrats and Republicans - in a spirit of cooperation for the sake of the American people. The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail. This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. Now is our chance to come together to prove that Washington is once again capable of leading this country."

Speaking for himself, Senator Obama outlined the following principles that he calls on Senator McCain to support:

I believe that several core principles should guide this legislation. First, there must be oversight. We should not hand over a blank check to the discretion of one man. We support an independent, bipartisan board to ensure accountability and complete transparency.

Second, we need to protect taxpayers. There should be a path for taxpayers to recover their money, and to turn a profit if Wall Street prospers.

Third, no Wall Street executive should profit from taxpayer dollars. This plan cannot be a welfare program for CEOs whose greed and irresponsibility has contributed to this crisis.

Fourth, we must help families who are struggling to stay in their homes. We cannot bail out Wall Street without helping millions of families facing foreclosure on Main Street.

Fifth, we both agree that this financial rescue package should move on its own without any earmarks or other measures. We have different views about the need for other action, but this must be a clean bill.

This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. This is not a Democratic problem or a Republican problem - this is an American problem. Now, we must find an American solution.
VERY GOOD.

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post #86 of 259 (permalink) Old 09-24-2008, 08:34 PM
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Namby-pamby.
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post #87 of 259 (permalink) Old 09-24-2008, 09:18 PM Thread Starter
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As Reid said earlier, the Congress and the Administration have a process in place. It was correct that Bush made the call. Not McCain and not Obama.

This is much like the Pakistani bombing. Neither candidate needed to be making public policy statements regarding action [only one did]. We only have on government at a time. Neither Obama or McCain run it. Bush, Reid and Pelosi do.
Neither McCain nor Obambi was trying to "make public policy." But only McCain put his country above his campaign.

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post #88 of 259 (permalink) Old 09-24-2008, 09:21 PM
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Neither McCain nor Obambi was trying to "make public policy." But only McCain put his country above his campaign.
I was talking about Pakistan when Palin said we needed to go in and help the Pakistanis NOW. And McCain, when asked, supported it 100%.

Sorta like their Georgia position. "Let's kick Russian ass!!"

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post #89 of 259 (permalink) Old 09-24-2008, 09:25 PM Thread Starter
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I was talking about Pakistan when Palin said we needed to go in and help the Pakistanis NOW. And McCain, when asked, supported it 100%.

Sorta like their Georgia position. "Let's kick Russian ass!!"
She's a pistol, isn't she?

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post #90 of 259 (permalink) Old 09-24-2008, 09:26 PM Thread Starter
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Buffett Calls Credit Crisis 'Economic Pearl Harbor'...

Sept. 24 (Bloomberg) -- Billionaire Warren Buffett, calling turmoil in the markets an ``economic Pearl Harbor,'' said his $5 billion investment in Goldman Sachs Group Inc. is an endorsement of the Treasury's $700 billion bank rescue plan.

``I am betting on the Congress doing the right thing for the American public and passing this bill,'' Buffett said on cable channel CNBC today. ``I certainly have a vote of confidence in Goldman and vote of confidence in Congress.''

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke are pushing Congress to quickly approve the proposal to remove illiquid assets from the banking system. Buffett is buying a stake in New York-based Goldman after three of the investment bank's biggest competitors collapsed or were forced into emergency sales.

``I think the Treasury will pay back the $700 billion and make a considerable amount of money,'' Buffett said, adding that if he had $700 billion on the government's terms to buy distressed assets, he would. ``Unfortunately, I'm tapped out.''

Goldman rose $4.95, or 4 percent, to $130 at 4 p.m. in New York Stock Exchange composite trading after Buffett's Berkshire Hathaway Inc. agreed yesterday to the investment. It will pay 10 percent interest and give Buffett the right to buy $5 billion in common stock in the next five years at $115 a share. ...

Bloomberg.com: Worldwide

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