Thanks for letting us know that Senator Kerry is smart enough to be against a "bad" bank proposal.  Next time also let us know WHY it's bad.  

Better yet, notify us when there's a "good" one.  

What's that saying about live by the sword, die by the sword?  I'm with John Kerry that the banks should have to eat their own losses for making all those bad loans that are now going belly up.  The criminal bankers can give back their ill gotten bonuses to help pay for their poor decisions.

Bless Andrea Mitchell for showing the "Steele Democrat" sign and bless good old Tim Russert for giving it to her.  Even from the grave Tim can strike fear into the black hearts of the repugnant ones.

I am so waiting for Countdown to hear Keith tell us about the premature ejaculation of hate and outrage from Mount Lushmore, the Viagra Chronicler.  It will be so interesting to hear about the repugnant ones having to grovel before the Viagra Boy to explain why they chose a closet Democrat to run the RNC.

Prison for rove!

Where the hell has he been? Who cares?

Two Senators on target...on the same day. Claire McCaskill hit a home run and so did Senator Kerry. It really is a bad idea.  The banks should take the loss, the wrote the bad mortgage.  Now...get ready for regulations.  They are surely coming; as rain falls from the sky.

I am siding with Nashville_fan regarding calling Obama President Obama. I went back to do a quick search through the archives and the first 5 or 6 FR from 2006 says President Bush!

From the bully pulpit that has served him well throughout September, President Bush himself is now calling Democrats "the party of cut and run."

Summing up President Bush's striking speech in Birmingham, AL yesterday

President Bush ratcheted up his rhetoric against Democrats at his fundraiser for Alabama Gov. Bob Riley in Birmingham today, in that he actually called the Democratic party "the party of cut and run."

"As Congress concludes its legislative session, President Bush understands that Representative Pryce has a responsibility to stay in Washington to vote on important legislation that will strengthen our national security."

Even so, it's notable that Rep. Deborah Pryce says she'll have to miss her own fundraiser with President Bush in New Albany, OH later today because she has to stick around the Hill and vote on the NSA

President Bush meets with the Senate GOP Conference this morning to talk about "shared priorities" and congratulate the lawmakers on this past session.

Kerry came up with this idea? By himself?! It's downright, . . . . Conservative!

Someone check Kerry's temperature and pulse. Maybe Cheney is wearing a Kerry rubber suit and pulling a fast one on Mitchell.

i think what they mean by "bad" bank proposal is the idea of getting rid of "bad" assets or something like that. I really don't know much about finance. I just think that the "bad" of bad bank is referring to assets and some other stuff not that the proposal itself is bad.

Thanks for letting us know that Senator Kerry is smart enough to be against a "bad" bank proposal.  Next time also let us know WHY it's bad.  

Better yet, notify us when there's a "good" one.
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Well said Anna Molly . . . and so true!

Sadly, I'm thinking there is no "good" way out of the financial mess made by greedy bankers and their paid representatives in the Congress (Republican and Democrat).

Here's hoping we can just muddle through it.

I never thought I'd say this but good for John Kerry, who I'm not a fan of 99% of the time.

Let's let the banks and all of the other companies vie for themselves. You screw it up. You fail. Bailouts are for companies who fail. Nothing lasts forever. Responsibility is the only answer.

In a perfect world a hard-nosed Republican and his VP would be leading the way. Clearly it is not a perfect world. The Stimulus is imperfect to the max.
Pelosi, Reid and Braney Frank are the 3 stooges of the political world. Who the hell doesn't know that? Are these people blind? They'd do better with a cane and a tin cup.

Democrats screwing America is not in the best interest of the Dems OR America. So when the Obama Screw Machine rattles it's little brain and screams whaaaa because it's not getting Republican support, we fully expect it. Grow up and be somebody, and that especially goes for your puppet Biden.

Umm it's not about theproposal being bad.  It's about taking over "bad" assets.

My God!  There has to be more to this, and probably will be, but Kerry is actually making sense!

Now if we could just get him on the "good money after bad" philosophy as far as the "stimulus" package.

I'm really failing to understand why Obama is so intent on continuing George Bush's expansion of the national debt at an even faster pace.

Chuck Todd asked press sec. Gibbs a good question about the 18 Billion Dollar Bonus the Wall Street Execs gave themselves, which was straight forward "Like What Is Pres. Obama gonna do About It??" getting a little angry like a disappointed PARENT just doesn't cut it very well..Talk is cheap-- But we need some action against these Greedy Crooks; Because if they get away with it-- they will do it again.  Greedy is as Greedy Does.  And all these people know is Greed..

Seeing some cracks in the Democratic juggernaut. That's what happens when you put all your confidence in a man, Obama, who is made out of clay.

To SAM USA:

Thanks for the legwork about the use of "President Bush" . . . very interesting!

P.S. I had not read Paul Krugman's article, so thanks for the heads up! Many may I have forgotten, but Mr. Krugman was a mericless critic of President Obama during the Democratic primaries - to the point of being more mean spirited than educational.

I think what he and many like him forget is that its not enough to just have a good idea, you also have to get it PASSED. It seems many of our "experts" are content with utopian theories that are very hard to implement in the real world. See the past 8 years for examples of this phenomenon.

Free American Tehachapi Ca.

> Where the hell has he [Kerry] been?

Changing Ted's diapers.

> Who cares?

Ted does.

Monkberry ~ Good for John Kerry?  You've been into the kool-aid again.  What was it this time ... grape or cherry?  

As punishment, go to your room and hook yourself up to the Obama Screw Machine for a little brain-rattling ... indoctrination.  In the interests of research, you know?  We expect a full report.  By the way, we developed the OSM at Anna Molly's School.  You'll like it, I guarantee it.  

I for one find this open discussion of what should be done to be refreshing. Hearing from all that are in a position of leadership; having them on the record as contributing some form of thought to the process is good for our nation. Here's hoping that the best ideas prevail over failed ideals.

Oh, I get it.  "BAD BANK" not "bad" bank.

Never mind.  ;)

Free American Tehachapi Ca, Barney :
'...Changing Ted's diapers...'

The only person in the Senate who wears diapers in
'Family Values' Sen David Vitter
,
But he gets his hooker girl-friend to put his diapers on him


PS
Barney, are you a purple Dinosaur ??

Finance committee member John Kerry said on MSNBC's Andrea Mitchell Reports that he is against the reported bad bank proposal Treasury is working on.

Kerry said he'd prefer to see the banks write off their losses, take their hits and avoid more taxpayer liability

PERHAPS:
The proposal for the "Bad Bank" is because the cost of allowing the banks to write the debt would be to costly. Let's revisit the scene of the crime:

1. The "banks" lobbied congress to change the bankruptcy laws to benefit them.

2. The "banks" were deregulated.

3. Consumers were dangled preditory loans.

4. A lettuce picker in Florida purchased a $700,000 dollar home and the bank paid for the whole thing...

5. Consumer credit agencies sold potential clients to banks for high intrest credit cards.

6. The banks don't even have the mortages, I'll bet that they don't have there and they probably can't find them.

Is anyone getting this? The banks can't be trusted. They do have the "troubled assets" on "their" books. Why give the a free pass of a write off?

The consumers that are paying those high intrest rates and mortgage rates need the write offs.

Senator Kerry, this is why you aren't President. Why did you take that idea public anyway?

Let the CEOs with the billion dollar bonuses bail out the bad debts of the banks. Take our money back from those greedy buggers and use it more wisely.

Let them write off the losses like everyone else does. Why should we suffer?

The Bank managers do not care at this point. They all got their bonuses in 2008, because they knew the gravy train would dry up. One more failed bank under their hats and they can all be consultants.

You know, you guys are MSNBC are better than this.  You don't have to worry about "breaking news".  Try doing something "new".  Like actually talking about what will resolve this crisis.  Right now, you guys are on par with CNN.  Offering critiques of what is out there.  You can do something good besides just delivering the news.  You could actually talk about alternatives and talk about the likelihood of certain plans succeeding.  

We are a bit tired of the pros and cons of the stimulus.  Talk about what should or could stimulate the economy.

Goodness.

Everyone is jumping in and saying that John Kerry is right and this is a bad idea, but this isn't just another bailout plan we are talking about. Let me give you an example:

A bank has a bad debt - in this case, a $200K mortgage secured against a house that is only worth $150K. They can choose to (a) foreclose and turn the owners of the house out on the street, or (b) sell the bad debt to the government's "Bad Bank". If the second option is chosen, the government can make a new arrangement with the homeowners that will give them more favorable repayments and keep them in their home.

Now that makes the "Bad Bank" look like a GOOD idea to me, assuming the government doesn't have to pay the full cost of the bad debt (which would be unreasonable).

Whoever said nobody has the answer is right.  Short of complete nationalization of the banks, which Obama won't do, and which would make conservative squeal communists, how can you fix the unfixable?  You can't keep pouring money in.  If banks fail, does that mean they can call in all their debts from consumers immediately, if not taken over? I like the discussion, I need to know more about the alternatives and how do we get the banks to open their books?

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