First thoughts: Changing nothing

Posted: Friday, July 17, 2009 9:19 AM by Domenico Montanaro
Filed Under: First Thoughts

From Mark Murray, Domenico Montanaro, and Ali Weinberg
*** Changing nothing: In the Sotomayor hearings, there were four days of statements and questioning, several witnesses, wall-to-wall coverage, and it changed … absolutely nothing. Truth is, there hasn't been a real Supreme Court fight since Clarence Thomas (in '91) and Robert Bork (in '87). Folks, that's 18 to 22 years ago, and since Thomas we've seen four justices confirmed quite easily -- Ginsburg, Breyer, Roberts, Alito -- and Sotomayor is about to make it five. Per the Washington Post, Republicans don’t intend to filibuster Sotomayor. The Senate Judiciary Committee plans to consider her nomination on Tuesday, but the committee vote will likely take place the following week, clearing the way for a full Senate vote by Aug. 7. After Bork and Thomas, there's been an easy formula to acing your hearings: smile, be courteous and, most important, make no news. Indeed, it's unlikely we'll see a true SCOTUS fight again, unless the nominee breaks those rules or represents truly changing the ideological composition of the court (e.g., President Obama getting to appoint Anthony Kennedy’s replacement).

Video: Supreme Court nominee Sonia Sotomayor's confirmation hearings wrapped up Thursday with more questions about her past speeches, but Republicans acknowledged they won't filibuster the confirmation vote. NBC's Pete Williams reports.

*** Slow ride, take it easy: Yesterday, here was Senate Minority Leader Mitch McConnell on health care: “We need to slow down and let the American people see what they’d be getting into with these so-called reforms. We all want reform. But we want the right reform.” And Olympia Snowe said this to Andrea Mitchell on MSNBC: “This is a mighty endeavor… So I think it’s more important to get it right, and a thoughtful process will engender greater support.” Coincidence? Well, GOP message guru Alex Castellanos sent a memo to Republicans last week that contained this message advice: “Slow down, Mr. President. We can’t afford to get health care wrong. President Obama is experimenting with America too much, too soon, and too fast.” But it’s not only Republicans who want to slow things down. After meeting yesterday with Obama, Democratic Sen. Ben Nelson released a statement saying he suggested to the president that “we not impose an arbitrary deadline to get something done.”

*** Dem vs. Dem? Nelson, of course, is one of a handful of Democratic senators who is seeing the DNC run TV ads on health care in his backyard. Yesterday, responding to those ads, Senate Majority Leader Harry Reid told reporters, "It's a waste of money to have Democrats running ads against Democrats." But his office later clarified his remarks. "Sen. Reid was led to believe by the question posed to him that the DNC was attacking members of his caucus. In fact, the DNC is running non-specific call to action ads in states with both Democratic and Republican senators, an effort he has no problem with." Even though he doesn’t have a problem with the ads, they’re pretty remarkable. We don’t remember the RNC running TV ads in states represented by GOP senators during the Social Security and immigration fights. Then again, those initiatives didn’t make it through Congress…

Video: NBC's David Gregory joins Morning Joe to talk about the trillion dollar 'massive overhaul' that is Obama's health care plan, and whether it will save America money in the long run.

*** The Great American Health Care Fight: Here are other developments from yesterday: The Congressional Budget Office cast doubts whether the House Democratic and Senate HELP bills would end up lowering health-care costs… The American Medical Association says it backs the House Democratic bill… The House Ways and Means Committee passed that bill by a 23-18 vote late last night… And the Senate Finance Committee seems set to produce its bill next week.

*** Biography is destiny: Since becoming president, Obama has sometimes talked about his biography with powerful effect. He referred to it in Turkey when stressing the need for minority rights there (“I say this as the president of a country that not too long ago made it hard for someone who looks like me to vote”). He mentioned it in Ghana (“I have the blood of Africa within me, and my family's own story encompasses both the tragedies and triumphs of the larger African story”). And he talked about it last night in his speech to the NAACP -- his first as president to a mostly African-American audience. “I know what can happen to a child who doesn't have that chance. But I also know what can happen to a child who does,” he said. “I was raised by a single mother. I don't come from a lot of wealth. I got into my share of trouble as a kid. My life could easily have taken a turn for the worse. But that mother of mine gave me love; she pushed me, and cared about my education; she took no lip and taught me right from wrong. Because of her, I had a chance to make the most of my abilities. I had the chance to make the most of my opportunities. I had the chance to make the most of life.”

*** Potential backlash at Wall Street? First there was Goldman Sachs' huge quarterly profit. Now this, per the New York Times: “Bank of America, one of the nation’s largest and most troubled banks, announced on Friday a $3.2 billion second-quarter profit, a figure that exceeded analyst expectations.” Argues Paul Krugman about Goldman Sach’s profits: “The bottom line is that Goldman’s blowout quarter is good news for Goldman and the people who work there. It’s good news for financial superstars in general, whose paychecks are rapidly climbing back to precrisis levels. But it’s bad news for almost everyone else."

*** Summers day: Obama today has no public events. The administration official in the spotlight today is chief White House economic adviser Larry Summers, who speaks about the economy at 11:00 am ET in DC.

*** End of card check? The New York Times front-pages that Democrats have shelved organized labor’s key wish -- a law recognizing unions if a majority of workers sign cards saying they want one -- and instead are pushing for shorter unionization campaigns and other labor law reforms. “While disappointed with the failure of card check, union leaders argued this would still be an important victory because it would give companies less time to press workers to vote against unionizing. Some business leaders hailed the dropping of card check, while others called the move a partial triumph because the bill still contained provisions they oppose.”

Countdown to Palin Stepping Down: 9 days
Countdown to Election Day 2009: 109 days
Countdown to Election Day 2010: 473 days

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Comments

I noticed when Obama went through his list of discrimintated groups when speaking to the NAACP, he didn't mention the white New Haven CT, firefighters. Was that an oversight?

Lynn Wheatly (Sent Friday, July 17, 2009 9:25 AM)

President Obama’s speech to the NAACP was nothing short of exquisite! **Stand & Applause* His PASSION was superb and his message was spot on! Listening to it reminded me again why I worked & voted for the right man at the right time for the right job! Take it to the people again President Obama… I’m standing with you 110%!!

As we come to the end of another CRAZEE week here at FR I wanted to share an e-mail I received from BCBS yesterday. As I’m responsible for negotiating my companies health insurance coverage this e-mail found it’s way into my ‘Junk Mail’ folder under the title (you’re going to LOVE this)

URGENT! GRASSROOTS ACTION ALERT! CONTACT YOUR CONGRESSMAN TODAY!
So before I clicked DELETE I thought it was appropriate to get it out here and prove once again that the FAT CAT insurance companies are not going to go down without a FIGHT! We’re FILTHY RICH and we have every intention of STAYING that WAY! Too F’n bad if Americans die because of our greed – we’ve been getting away with it for decades and don’t plan on giving in to anything that’s for the good of the people!
They sure got the SCARE TACTICS down pat! But not a peep out of them about the 10+% increase they stick us with every year OR pre-existing conditions, out of state/country travel restrictions and on and on and on….
And I did take their advice and contact my congressman – I told him that if he didn’t VOTE YES for Quality Affordable Healthcare WITH a PUBLIC OPTION I would do everything in my power to make sure he was looking for a new line of work in 2010 – my only regret is the b@stard will NEVER know what it feels like or the costs associated with going on Cobra!
I strongly encourage every COMPASSIONATE VOTER out there to do the same! Republicants need not apply!
_____________________________________________
Voice Your Opposition Now to a New Government-Run Health Insurance Plan

Blue Cross and Blue Shield of Illinois, a division of Health Care Service Corporation (HCSC), strongly supports thoughtful health care reform that controls costs, provides all Americans with access to health insurance coverage, and improves the overall quality of our health care system.

But Blue Cross and Blue Shield of Illinois and many of our state’s employers are concerned about a proposal currently being debated in the U.S. House of Representatives to create a new government-run health insurance plan to compete with private insurers. Blue Cross and Blue Shield of Illinois believes that a government-run insurance plan as described in the House proposal would:

•severely damage the current employer-based system for providing health benefits;
•exacerbate cost shifting;
•eventually squeeze private insurers from the market;
•cause employers to lose any ability to manage the costs of coverage, while still accountable for continued contributions; and
•jeopardize delivery system reforms critical to controlling costs.

Over the years, employers together with private insurance plans, not government health care, have led the way in innovations such as chronic disease management, preventative wellness programs and centers of excellence.

Please make your voice heard in opposition to a new government-run health plan by sending an e-mail message to your representative in Congress today. Let him or her know you support health care reform, but believe a new government-run health plan is not necessary to achieve meaningful reform. Your perspective and expertise on this issue is vitally important to this effort and we thank you in advance for your interest and your advocacy.
_____________________________________

To my fellow lefties another week… another job… well done! The rhetoric from the right is sure ratcheting up a notch or two! Did I miss something? What’s with ALL the Soro’s crap AGAIN? Guess the whack jobs just enjoying going around in circles? Like a dog chasing their tales but getting NOWHERE! Wednesday it was ‘What’s the Rush’ Yesterday it was Soro’s & teleprompters… hell pretty soon we’ll be able to tell what day of the week it is just by the daily talking points spoon fed to them by the RNC – Lush – O’ReilledUP and the rest of the fear mongers! So utterly predictable!

To the uptight righties… keep on typing… more $$$ for MSNBC! Plus as an added bonus you’re fun to have around… if it weren’t for you it would be as monotonous around here as it is over at Fox – nothing but a bunch of Neanderthals patting each other on the back over there! So please do come back now ya hear!

To Mark/Domenico & Ali – Thanks for putting up with us week in & week out! You’re hard work pays off in dividends as having absolutely the best website for political dialogue! It’s also nice to see so many ‘new’ voices on the board… you know variety is the spice of life ;0)

So Happy Weekend…

But before I go…
When is MSNBC going to give Lawrence O’Donnell his own show?

Feisty Redhead Roselle, IL (Sent Friday, July 17, 2009 9:27 AM)

The Republican failed miserably in their effort to defeat Sotomayotr and smear the president. They came across as racist bullies who were only interested in terrorizing a wonderful nominee.

http://www.political-buzz.com/

matt (Sent Friday, July 17, 2009 9:28 AM)

Intersting the CBO scored the HCR bill to cost much more then we are currnelty paying for the health care. The CBO says the growth curve of government spending with HCR is "unsustainable". But yet the liberals just keep marching on ignoring the warnings. Why do the liberals hate America so much that they'll take the cost of health care from one fifth of the GDP to one third of the GDP?

GKD - DL (Sent Friday, July 17, 2009 9:29 AM)

For Baucus kneels to his President, then Reid. Spineless twits, both of them.

Jeff, Carson City NV (Sent Friday, July 17, 2009 9:31 AM)

First Read and all you other pundits obsessed with reporting the play by play ... Dem vs Dem disagrements on the Health Care debate, REMEMBER : Health Care reform will get done !

I laugh when I see reporters rush to the door after every meeting trying to pry out any form of disagreement or sign that the process is tough from the lawmakers and make it the banner headline in the new reports.

Its gonna get done.

Steve , NY (Sent Friday, July 17, 2009 9:34 AM)

Paul Krugman: about Goldman Sach’s profits: “The bottom line is that Goldman’s blowout quarter is good news for Goldman and the people who work there. It’s good news for financial superstars in general, whose paychecks are rapidly climbing back to precrisis levels. But it’s bad news for almost everyone else."

So how is it "bad news for everyone else"? Bad news, as in the people that didn't do a damn thing aren't getting a cut of their "far share"? That is the liberal way, right? Wealth distribution? What does Krugman suggest be done? Tax Goldman Sachs at the 90% rate?

Pattie H., Chicago IL (Sent Friday, July 17, 2009 9:34 AM)

The Joy of Sachs
PAUL KRUGMAN - July 16, 2009
The huge bonuses Goldman will soon hand out show that financial-industry highfliers are still operating under a system of heads they win, tails other people lose. If you’re a banker, and you generate big short-term profits, you get lavishly rewarded — and you don’t have to give the money back if and when those profits turn out to have been a mirage. You have every reason, then, to steer investors into taking risks they don’t understand.
And the events of the past year have skewed those incentives even more, by putting taxpayers as well as investors on the hook if things go wrong.

Read it all.

http://www.nytimes.com/2009/07/17/opinion/17krugman.html?_r=1&partner=rssnyt&emc=rss

Dennis, Columbus, Ohio (Sent Friday, July 17, 2009 9:34 AM)

*** Biography is destiny:

President Obama’s speech on yesterday evening to the NAACP was a grand slam. It bought back memories of my childhood, the nurturing and appreciation of parents and neighborhood parents that made up the “village to raise a child”. Those were the morales and principals that we (my generation) were raised on. Nosey neighbors were your parents and they would get on to you if they saw you doing something you shouldn’t be doing. We need to get back to those days.

Our parents weren’t rich in money, they were rich in good character, dicipline, morals, faith, love and they were hard workers. I was a single parent for seven years with a young child to raise. Welfare wasn’t an option because were weren’t rasised to accept hand outs.

Education was drilled into our heads, we had a family of supporters. Because of education I was able to secure a career that paid well enough to raise my child in a clean safe environment and marry when I chose to and not out of necessity. Send him to private schools where cultural diversities were celebrated because after all, it is what our nation consist of.

I wanted him to experience the cultural diversity of all nationalities because that would allow him to have a level playing field once he entered society.

I didn’t stop there; while he was coming along I demanded that he give me excellence, I wanted his best and in doing so; He is sharing his best with society as a professional productive citizen..

The greatest gift I could ever receive was the day that my child was selected for a position while still in college over twenty competitors; each one of them…had Masters of Sciences degrees in his field, while he was still a student. He came home from his interview and told me what happen and said; Mom, I got the job! We were both excited…but the greatest gift I could have ever received from him that day, was when he told me Mom…I watched you.

You’ve worked hard, you were up late a lot of nights, you get up and go to work with little sleep…but you always had time to help me with my homework and participate in my activities, you pushed me mom, but you taught me to never quit learning, to dig a little deeper, to explore all options and to face a challenge with a soloution rather than defeat. I use to get so mad at you that I could scream, but today, I am grateful and I just want you to know… that I love you mom. I just boke down in tears when he said that.

I will NEVER forget those words, I will carry them to my grave. They’ve ment more to me than any amout of money ever could.

My mom was a hard task master and use to always tell us; “watch what you say and do around your children because little eye’s are watching and little ears are listening”…that was a true statement, because my own child told me so.

We must work in a cohesive manner to replace what poor judgement allowed to be stolen, enough bickering over problems we know need fixing…let’s restore our children’s inheritance and future.

Anita, Birmingham, Alabama (Sent Friday, July 17, 2009 9:37 AM)

Note that page 16 of the just passed Ways and Means health care bill says that if you lose your private insurance from your employer, then you have no other option then to go in to the public Obamacare plan. That's right, you have no choice but to go to Obamacare if your company refuses to pay for your private insurance or if you are layed off.

That doesn't sound too competitive to me? Looks like at some point enough people will be funneled into the public option whether the want to be or not, thus killing private insurance.

The things you learn if you just read a little.

Joseph Reeder, Maryland (Sent Friday, July 17, 2009 9:38 AM)

President Obama's message to the NAACP and the Black community as a whole was outstanding but I wish he had directly stated to our young sons that there is No Excuse for not pulling up their pants and to do so as the first step toward taking personal responsibility to realize their own potential.

Caryl S. Foster, San Diego, California (Sent Friday, July 17, 2009 9:40 AM)

FR: “The Congressional Budget Office cast doubts whether the House Democratic and Senate HELP bills would end up lowering health-care costs…”

CBO did more than ‘cast doubts.’ Today’s Washington Post says they delivered a ‘devastating’ assessment:

“Congress's chief budget analyst delivered a devastating assessment yesterday of the health-care proposals drafted by congressional Democrats, fueling an insurrection among fiscal conservatives in the House and pushing negotiators in the Senate to redouble efforts to draw up a new plan that more effectively restrains federal spending.

Under questioning by members of the Senate Budget Committee, Douglas Elmendorf, director of the nonpartisan Congressional Budget Office, said bills crafted by House leaders and the Senate health committee do not propose "the sort of fundamental changes" necessary to rein in the skyrocketing cost of government health programs, particularly Medicare. On the contrary, Elmendorf said, the measures would pile on an expensive new program to cover the uninsured.”

So there you have it, it’s back to the drawing board Dems, your rush to failure on HCR has been exposed. HCR in its current form is DOA and a nation longing for fiscal sanity breathes a grateful sigh of relief.

Bill, Fairfax, VA (Sent Friday, July 17, 2009 9:40 AM)

Obama when asked by a CBS newsie if he has decided all Americans should be forced to buy insurance. Obama responded "Yes, I've come to that conclusion".

What?! Obama has "come to that conclusion"? Since when did Obama acquire dictortial powers? He has decided? Listen Obama, most people can make their own decisions without you deciding for them. Your little mindless drone supporters may like that you have decided for them, but most people aren't that stupid.

Tish Waltrip, Ft. Wayne IN (Sent Friday, July 17, 2009 9:41 AM)

It's good to see the Evil Elephants roll over and play dead for the Senate vote to confirm Sotomayor as the next Supreme Court Justice. Good to see Elephant Trainer Obama has started to tame the wild and wooly bunch of sore losers.

The Senate needs to focus on the House Health Care Reform bill since that has gotten the seal of approval from the AMA. The AMA's sudden and unexpected reversal to now support health care reform with the public option spells the end of the dopes of nope being able to stop the health care reform that Mainstream America wants.

It's nice to see the banks or investment companies or whatever they are nowadays make some money. However while they're making money they are not stimulating the economy with low interest loans for homes and businesses. Time for the greedy bankers to start doing what banks are suppoosed to do or it's time to force them to lend money since that's the real problem. Wall Street does not drive Main Street and if the banks don't get behind lending money our economy will not recover as quickly as it should.

Confirm Sotomayor Now!

Eric, Salinas, CA (Sent Friday, July 17, 2009 9:41 AM)

"The point I made earlier this morning is that it raises future federal outlays more than it reduces future federal outlays.

The coverage proposals in this legislation would expand federal spending on health care to a significant degree and in our analysis so far we don't see other provisions in this legislation reducing federal health spending by a corresponding degree. " - Congressional Budget Office director Douglas Elmendorf

================================================
It would seem to me, that the key words that are being conveniently left of CBO Director Elmendorf's comments to the Senate Budget Committee are "in our analysis so far " . . . as in, that analysis is NOT COMPLETE!

Further down in the article where the above quote was taken is this:

"He said ways to pay for the healthcare programs could include further savings from the Medicare health program or changes to the current exclusion from taxes of employer-paid insurance premiums.

The nonpartisan budget analysis arm of Congress has not yet estimated the cost of the full House healthcare legislation working its way through three House committees."
================================================
So contrary to the oh so convenient spin that is being put on the Director's comments, he is not saying that it CAN'T be done, he is saying that it HASN'T been done YET, in his LIMITED ANALYIS, which does not even include the full House healthcare legislation yet.

I can't stress this enough folks - don't stick with the soundbites - READ IT FOR YOURSELF!

http://www.reuters.com/article/politicsNews/idUSTRE56F6GT20090716

Nashville_fan (Sent Friday, July 17, 2009 9:42 AM)

Shared Responsibility (Sent Friday, July 17, 2009 9:43 AM)

Oh where have all the jobs gone?? Still looking for those jobs Obama promised.

Willing to Work (Sent Friday, July 17, 2009 9:43 AM)

Sotomayor will be confirmed. She's a likable, established, smart woman and she knows her stuff.

Stocks were up for 4 days in a row. Why no comments from the teabaggers? LOL

Joyce (Sent Friday, July 17, 2009 9:44 AM)

So now, young people, when they get a job, are required to pay into Social Security, Medicare/Medicaid, unemployment insurance, and now the biggest entitlement of them all, Health Care. After they get done paying for all that, they need to give 28% of their gross income to the feds, another 8-11% (depending where they live) to the state in the form of income and sales taxes, plus their local taxes. They need to pay 40+ cents a gallon in tax for their gas purchases (and that's going way up soon too). So in all, well over 50% of their money goes to the government.

Welcome to America young people! Now pay up!

True American Tax Payer (Sent Friday, July 17, 2009 9:46 AM)

Why do Obama and the Democrats punish successful people?

Cherese Hall, Washington DC (Sent Friday, July 17, 2009 9:47 AM)

So how is it "bad news for everyone else"? Bad news, as in the people that didn't do a damn thing aren't getting a cut of their "far share"? That is the liberal way, right? Wealth distribution? What does Krugman suggest be done? Tax Goldman Sachs at the 90% rate?

Pattie H., Chicago IL (Sent Friday, July 17, 2009 9:34 AM)
-----------------------------------------------------

Just paying the taxes that they evade by holding multiple offshore accounts will suffice.

Krugman is worried that we've turned a blind eye to the problem that got us here in the first place...goldmen made billions on "derivitives" once again, making the call for others to jump back in the toxic pool.

We need regulation...that's paramount

Greg P. NW Indiana (Sent Friday, July 17, 2009 9:47 AM)

Great job to the few sane people on this blog, Bad Chi, Jonathan, MI, nb, nj, nj, and inthemiddle, tx. Way to keep these whacked out liberals on their toes. you know it drives them insane when people don't agree with them or their chosen Messiah B. Huessien Obama.
I can't wait to talk smack when healthcare and crap and tax fails. oh what a sweet day it will be. Feisty, Anita, Eric, Jaw willie, and Clara will need an extra dose of zannex when that day comes!
So keep up the good fight and keep putting those filthy liberals in their place!!

Republican 4 life (Sent Friday, July 17, 2009 9:49 AM)

Of course, we just have to take Obama at his word when it comes to his biography since he won't produce any records from his past. And experience tells us that we're fools to take Obama at his words since he's broken promises and constantly changes his stories.

Keep the Change (Sent Friday, July 17, 2009 9:51 AM)

Rachel Maddow has been doing a great job exposing the secretive crooked C Street fake church for tax evading repugnhant ones. I think that this C Street Cabal will remember the summer of 2009 as the summer of C Street Sex Scandals. Now we hear that a retired repugnant one named Pickering had a sex scandal problem we didn't know about. Just how many other of these evil wicked sinners from the C Street fake church are guilty of scandals? All of them! Maybe we should just call this nefarious group of sinners The Evil Family.

She should never allow that Crazy Uncle Pat Buchanan on her show anymore as I always change channels when that criminally insane Nixon flake shows his face. It's way past time for MSNBC tv to exile Crazy Uncle Pat to fox and freaks where he belongs with the other crazy disturbed bozos on the televised mental unreality show. His whines about Sotomayor being racist shows he's a card carrying member of the KKK. Him trying to lie about Sotomayor's reading of children's books as her college curriculum was another disgusting lie as she read those books to further complete her childhood reading and she did that on top of graduating with honors and instead of going out partying.

A call to action ad isn't an attack ad and the Democrats need that wake upo call to stand tall and just say No to the dopes fo nope. If the party of sore losers doesn't want to contribute good ideas for legislation then they should just be ignored as if they are a bunch of spoiled brats who don't have the maturity to be treated like adults.

Exile Crazy Uncle Buchanan to fox and freaks!

Eric, Salinas, CA (Sent Friday, July 17, 2009 9:51 AM)

Fellow liberals who feel the wealthy are destroying our nation....where's the outrage over AIG and Goldman Sachs paying out billions in bonuses again now that they're profitable again. They're back to their old greedy ways. We criticized Bush for allowing this...now under Obama it's no different. Raise your voices.

Obama (Sent Friday, July 17, 2009 9:52 AM)

Biden is at it again. Told the AARP folks that the federal government needs to "Spend a lot of money so we don't go bankrupt".

Look it up. He said it.

Joe's Off His Leash Again (Sent Friday, July 17, 2009 9:52 AM)

When McConnell says he wants to slow down on health care reform just how slow does he intend to go? From his record I would say 40 years or more should about do it in his pointly little head. By then he'll be dead and gone and he won't have to worry about it.

I say we have delayed far too long. While I don't think we should rush we need to make sure this is not delayed long either. I would be happy just getting it this year. Before August recess may be too quickly but we'll see.

eagle1776 (Sent Friday, July 17, 2009 9:52 AM)

Paul Krugamn is an idiot. I'm so glad the NY times is going under. It's a waste of ink and paper, and if they can't pay their own bills anymore then they need to adjust or die out.

I get upset because there was a certain group of people that were predicting this mess we are in. The Austrian Economists. They believe personal liberty and the free market work together for the betterment of society, but of course these aren't always the people that we listen to. We still listen to Paul Krugman, who was blindsided by this mess. Jim Cramer who helped propagate the problem along with his so-called channel of financial experts over cnbc. They all laughed when Peter Schiff told them back in 2007 we had a housing bubble, and it was going to burst. They all laughed when he told them buying stock in the financials was toxic. Ben Stein called Merrill Lynch, and Bear Stearns a steal last summer. Jim Cramer was telling everyone Leahman Brothers was a good deal even if it seemed over priced. And we are still calling these people experts!!! I'm sorry but if I was a top of my class surgeon, and I didn't realize that people need a sterile environment when I was working on them I might not be the expert people thought I was...

But who does the media turn too when they want analysis. Well they want someone who was wrong just like everyone else. Maybe they have thin skin and can't handle the gloating of the Free Market folks.

BTW folks on the board do your homework this was not a free market problem. The left will blame it on the free market and lack of regulation, but it was the product of corporatism, meaning some financial companies were regulated while others enjoyed the benefits being able to do whatever they wanted. To make matter worse a lot of banks were getting cheap credit from the THE FED. Which sends the wrong message to the market. An agency that claims its apolitical, the FED is anything but. Interest rates should be high right now. People should be forced into saving and not consuming...but the Paul Krugman's of the world think we can spend our way out of it.

This is going to inflate a bubble only to have it pop again and we end up back in the same boat. We will keep repeating this cycle until the government can no longer spend it's way out of it, and they simply are forced to take control of the economy.

Perhaps this is the agenda. I try not to be a conspiracy theorist, but we keep making the same mistakes, and the government keeps trying to control more and more of the private sector. I don't know what to think anymore.

Jonathan, Flint, MI (Sent Friday, July 17, 2009 9:53 AM)

Let's hear it for PRINCIPLES !!
As in the American Conservative Union

'...But that wouldn't last. The ACU asked FedEx to pony up a couple million dollars for conservative lobbying expenses. FedEx balked, so two weeks later, the American Conservative Union switched sides, and now backs UPS...'

From Washington Monthly:

'...AMERICAN CONSERVATIVE UNION: PRINCIPLES FOR SALE....

There's been an ongoing and heated dispute between FedEx and UPS lately, stemming from a labor provision currently being debated on the Hill. In a nutshell, UPS already negotiates union contracts with individual locations, and FedEx may soon be forced to do the same, giving up its one national union contract for its express business.

A fierce fight between the two shipping giants has broken out over this, and American Conservative Union, a major conservative lobbying organization, was, as recently as two weeks ago, on FedEx's side. The ACU said in a recent letter, "We stand with FedEx in opposition to this legislation."

But that wouldn't last. The ACU asked FedEx to pony up a couple million dollars for conservative lobbying expenses. FedEx balked, so two weeks later, the American Conservative Union switched sides, and now backs UPS.

In return for the $2 million, ACU offered a range of services that included: "Producing op-eds and articles written by ACU's Chairman David Keene and / or other members of the ACU's board of directors. (Note that Mr. Keene writes a weekly column that appears in The Hill.)"

The conservative group's remarkable demand -- black-and-white proof of the longtime Washington practice known as "pay for play" -- was contained in a private letter to FedEx that was provided to POLITICO.

The letter exposes the practice by some political interest groups of taking stands not for reasons of pure principle, as their members and supporters might assume, but also in part because a sponsor is paying big money.

It's an interesting look at how this process, usually played out behind closed doors, really works. For a price, a company can buy the loyalty of a conservative organization, its lobbying operation, and perhaps even some media attention. In this case, the ACU's Keene didn't necessarily offer to use his print column for paid advocacy, but the fact that it was mentioned as part of the pitch to FedEx suggests a certain, shall we say, ethical flexibility.

And if one fails to pay that price, wouldn't you know it, the conservative organization finds that maybe it doesn't really agree with your principled position after all.

It's tempting to think a revelation like this would permanently undermine the ACU's reputation, but I can't help but wonder if the D.C. establishment, assuming that "everyone does it," and this is just "how the game is played," will tolerate a scandal like this...'

MSierra, SF (Sent Friday, July 17, 2009 9:54 AM)

So there you have it, it’s back to the drawing board Dems, your rush to failure on HCR has been exposed. HCR in its current form is DOA and a nation longing for fiscal sanity breathes a grateful sigh of relief.

Bill, Fairfax, VA (Sent Friday, July 17, 2009 9:40 AM)
_____________________________

Wouldn't want to wake you up from that delicous dream you're having - but - the only thing that's DOA are the 2 neurons that are still firing in that neocon brain of yours!

HRC is going to GET DONE and there's not a damn thing you and the rest of the Republicant's can do about it!

Elections have conseequences and remember the majority vote for CHANGE! As WE WON that's what you're going to get - like it or not!

Dumb & Dumber for $300 Please Alex! (Sent Friday, July 17, 2009 9:54 AM)

>>> Blue Cross and Blue Shield of Illinois, a division of Health Care Service Corporation (HCSC), strongly supports thoughtful health care reform that controls costs, provides all Americans with access to health insurance coverage, and improves the overall quality of our health care system. <<<

Which means BCBS are against the proposals going through Congress. The Congressional proposals INCREASE costs to unsustainable levels, they not decrease them. Also the Congressional proposals do not provide universal coverage. So there is a mjor disconnect between what Congress is doing and what BCBS is talking about.

Tim Watters, SF CA (Sent Friday, July 17, 2009 9:55 AM)

FR headline: “Potential backlash at Wall Street?”

Oh for crying out loud, here we go again with bashing business. Earth to FR: we want the banks to do better, we want the banks to be healthy and making money again, that was the point of the whole bailout.

As for Bank of America, please stop with the selective reporting. Yes it’s true that their second quarter profit exceeded expectations. But that profit was also 25% less than the profit they made in the second quarter of last year. Also, BoA warned that bad loans credit cards, mortgages and business customers are expected to increase going forward and the bank $13.4B to cover those expected losses, which is 25% more than they set aside in the previous quarter. So these guys aren’t out of the woods yet by any means, and to fixate on the profit number they reported today doesn’t come close to telliong the whole story.

As for Goldman Sachs, love them or hate them they are a premier Wall Street money machine. They have repaid the $10B in TARP funds they were forced to accept. So they can pay their people whatever they darn well please without interference from the government or Paul Krugman.

Bill, Fairfax, VA (Sent Friday, July 17, 2009 9:56 AM)

I'm glad President Obama refers to his biography. Maybe it will help highlight racial controversies, such as the one below, that we still have.
http://www.governmentalityblog.com/my_weblog/2009/07/my-fight-with-white-supremacists-.html

New York City (Sent Friday, July 17, 2009 9:57 AM)

I was saddened last evening when I watched Rachel Maddow -- the spot with Buchanan.

Rachel my dear, you were cool and composed. Buchanan is a shell of a man. He is filled with hate for everything that is not Buchanan-

Black Guys--good at Olympic Track
White Guys from Minisota--good at Olympic Hockey
Supreme Court--Old White Men who founded this country, built this country....this IS their country. Affirmative Action--the Scourge of the earth mentality.

Buchanan earlier had withered on Hardball Chris up against Mr. Payton, from the NAACP Legal Defense Fund, and equated Black Firefighters as "Not as Bright"....

Buchanan does not engage in civil discourse, he only uses insulting and denegrating language.

He is fearful..of his position in this Country....fearful that it is being taken/given to others who are less deserving. Let him retreat to the safety of his secure, probably heavily gated community!

He is a shell of a human, there is no Hope for him.

Rachel, you are Great!

Ed, San Antonio (Sent Friday, July 17, 2009 9:57 AM)

And the wealth re-distribution continues. First, last, and all middle pages for the liberal playbood for how they fund their mega-programs? "Tax the rich".

Your running out of rich people to tax Democrats. Shared Responsibility (Sent Friday, July 17, 2009 9:43 AM)
----------------------------------------------------

10 people are on a deserted island...

1 person knows how to hunt and kill animals
but because he has this knowledge he feels all the spoils should go to him. So he hoards the food so he doesn't go hungry. He has more than enough for 20 people. But it's his. And he's not willing to teach anyone for fear of competition.

The rest know how to build shelter and treat illness.
If the hunter doesn't give up food, the society dies. If the hunter doesn't share enough food, the society becomes to weak to take care of itself. If the hunter shares enough food...the society prospers, and everyone gets to live and figure a way off the f'n island. If the hunter continues his ill begotten ways, society will wake up and find another way to eat. Leaving the hunter to die, disease ridden in the open.

Looks like the hunter is going to have to give up some food if he wants to survive in this society.

Greg P. NW Indiana (Sent Friday, July 17, 2009 9:58 AM)

I keep hearing people say that President Obama needs to abandon his healthcare efforts and focus on jobs.

Question:

What more could the President do to create jobs than he has already done? What specific strategies could be pursued to make more good paying American jobs? (And if your answer is “tax cuts for businesses”, please explain how a tax cut translates into jobs instead of just monstrous profits and bonuses.)

I keep hearing that “now is not the time” to reform healthcare.

Question:

When will be the right time? During the boom years for our economy, when profits were soaring and the government had a surplus, that was not the right time. Now with more people unemployed (and uninsured), you say this is not the right time. When will this magical “right time” appear?

I keep hearing that “raising taxes” to pay for healthcare is bad.

Question:

If that is the case, then why is taxing health care benefits as income such a popular idea with media pundits and Republicans? Could the problem be not the raising of taxes, but rather the rich and powerful not wanting to pay their fair share?

“In 2006, there were approximately 116,011,000 households in the United States. 1.93% of all households had annual incomes exceeding $250,000.[5] 12.3% fell below the federal poverty threshold[6] and the bottom 20% earned less than $19,178.[7] The aggregate income distribution is highly concentrated towards the top, with the top 6.37% earning roughly one third of all income . . .”

http://en.wikipedia.org/wiki/Household_income_in_the_United_States

Nashville_fan (Sent Friday, July 17, 2009 9:58 AM)

Slow down. Isn't that the typical response. If Congress isn't given deadlines, then they get mired in muck. Companies have project deadlines and our representatives need them also. Yes, get it as close to right as possible, but do something. You can fix what doesn't work later. Did McConnell tell Bush that the American people and Congress needed to understand the Patriot Act or the unsustainable tax cuts--no, it was rammed through with fear.

Pres Obama can address issues of race and educational disparity more effectively than any previous president. The parts of his speech last night that I heard were wise, truthful and inspiring. Imagine what the NAACP attendees felt sitting in that room, celebrating its 100th anniversary, and listening to an African-American president speak.

When were companies ever pro-union. Too many people fail to recognize that their 8-hr days, 40-hr weeks, vacation and benefits are the result of unions. In order to hire and keep good employees, non-union companies had to offer benefits and working conditions similar to union companies. Remember that next time you speak against labor unions. Did some become too powerful, yes, but without his union, my stepdad would not have had a living wage, health insurance and a small pension. Respect the good unions do and complain about those things that seem unreasonable.

How can Pat Buchanan continue to be a republican voice on MSNBC with such a racist attitude. Republicans should be ashamed that his voice is speaking for them. His affirmative action hatred is beyond comprehension. What I see in Buchanan is 1960's pre-civil rights FEAR--fear that his white, male world is ending. Rachel Maddow did her best to keep cool during Pat's ridiculous tirade and that had to be tough. Good thing he wasn't in the room because someone might have poked him in the nose.

Jody, Iowa (Sent Friday, July 17, 2009 9:58 AM)

There are no jobs. The stimulous package did nothing to create jobs, or help the housing crisis. Only shows that the government can't run anything right. Now they want to manage healthcare.
And by the way Lynn the fire fighters are not discrimminated against. What about our Miss White America. Our United White College Fund. Wet TV station. And don't forget our CNN specials on Whats it like to be White in America!

Ollie (Sent Friday, July 17, 2009 9:59 AM)

*** Changing nothing: In the Sotomayor hearings, there were four days of statements and questioning, several witnesses, wall-to-wall coverage, and it changed … absolutely nothing.

######################################

No because all they want is publicity. Media attention and I don’t understand why, when they continue to make complete asses of themselves.

###############################################

*** The Great American Health Care Fight:

No comment, this has no real substance and I won't venture into racking my brain with maybe's.

############################################

*** Potential backlash at Wall Street? First there was Goldman Sach’s huge quarterly profit.

################################################

My first question is...did they earn the money by honest means? This article snippet is a cliff hanger.
What about Citi Bank, they "are" in trouble. They've mismanged their money.
################################################

To Debate You:
I noticed when Obama went through his list of discrimintated groups when speaking to the NAACP, he didn't mention the white New Haven CT, firefighters. Was that an oversight?
Lynn Wheatly
################################################

Lynn, did you want to write his speech. “You People” have a nerve screaming discrimination when laws are being acted upon in the right way. I watched Rachel Maddow’s Show on last night. You are in the era as Pat Buchanan, you’re both flaming racist. The friggin firefighter had no place being mentioning in that speech.

The NAACP is an organization that originally “had” to be formed for the Black people during a time when that was the only voice “they” had, believe me missy, at the mention of the name, it invoked fear, respect and fairness... Now it is a voice for many nationalities. So check yourself Lynn, before you comment.

Anita, Birmingham, Alabama (Sent Friday, July 17, 2009 10:00 AM)

Obama when asked by a CBS newsie if he has decided all Americans should be forced to buy insurance. Obama responded "Yes, I've come to that conclusion".

Tish Waltrip, Ft. Wayne IN (Sent Friday, July 17, 2009 9:41 AM)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Care to back that up with something more than a 'CBS Newsie'? Or didn't Rush give you anymore information?

Around here throwing right wing talking points out randomly doesn't FLY!

Back it UP or SHUT UP!

Feisty Redhead Roselle, IL (Sent Friday, July 17, 2009 10:00 AM)

Another great week here at First Read, the best place on the web for political discourse. Plus let's not forget that msnbc.com is the most popular web news site for the past 12 months, eat your hearts out fox and freaks and cnn (fox lite). We should all thank the great First Read crew of Chuck, Mark, Domenico, and Ali for letting all of us have fun commenting here. My thanks to all the great Obama supporters who post such excellent and witty comments. And yes I even thank all the repugnant ones who post here for helping msnbc.com become Number One!

It's time for that deadbeat Mitch McConnell to get to work instead of constantly whining. The health care reform bill doesn't need to be slowed down, the repugnant ones need to get to work or just roll over and play dead as the Demcorats don't need them to pass the bill. If they want input then they need to put up some honest good input instead of whining in front of the cameras constantly. The whining is what needs to be slowed down.

I like Paul Krugman's comments regarding the huge profits that some of the investment banks are making the the ton of cash the same crowd who wrecked our economy are now making. It's time to regulate these banking thieves so they start getting back to doing what banks are suppsoed to do and that is loan money for homes and businesses. So just how much of all that profit trickles down to the rest of us? Yeah none and it's time to jack up the taxes on capital gains back to the regular income tax rates.

In MSNBC.com & tv We Trust!
In First Read We Trust!

Eric, Salinas, CA (Sent Friday, July 17, 2009 10:01 AM)

So if a young person/couple wants to forego purchasing health insurance so they can say, put the money into a mortgage, save for their future kids education, or help out their retirned parents with some bills, Obama will tell them no they can't do that. Instead, they must purchase insurance, insurance they will more then likely not use, just so Obama can take the money from them, and give it to someone else.

Sure, that sounds fair. At least to the people getting the money from Obama.

Gary G., St. Paul MN (Sent Friday, July 17, 2009 10:02 AM)

I saw a commercial I believe on MSNBC today about health care rationing starring some woman from Canada who had to come to America to get care. The commercial really made me angry. The reason: It's misleading. She was only able to get care in America because she was wealthy enough to afford it, not because our system is somehow superior. As a Canadian citizen she wouldn't have had american insurance, so she would have had to pay a doctor up front. That's fine, and that won't go away under proposed system. But the commercial is misleading because we HAVE health care rationing in the US right now. The only difference is it is the insurance companies doing it.

If she had had her condition in America, there's a good chance her insurance wouldn't even cover the procedure she needed, let alone her having to wait a month. And God help her if she had the condition BEFORE she got the insurance. Then they wouldn't cover jack. And if, as 50 million Americans, she had no insurance because she couldn't afford it, she wouldn't be getting her life saving procedure. Insurance already rations health care like nobody's business. In Canada that woman's story is the exception to the rule. In America that woman's story IS the rule. New regulations on insurance providers along with a strong public option is only going to reduce health care rationing, not increase it.

Paul, Huntsville, AL (Sent Friday, July 17, 2009 10:07 AM)

Steven Colbert thought of a brillian way to get health care reform past the Repubs: Put it under the defense department's budget. The Repubs and their corporate media allies don't care how much money is thrown at the Pentagon, even if it goes to corrupt contractors like KBR that build shower stalls at military bases that electrocute soldiers.

Sneaking something worthwhile into the defense budget might be worth a try.

Houston (Sent Friday, July 17, 2009 10:07 AM)

Under questioning by members of the Senate Budget Committee, Douglas Elmendorf, director of the nonpartisan Congressional Budget Office, said bills crafted by House leaders and the Senate health committee do not propose "the sort of fundamental changes" necessary to rein in the skyrocketing cost of government health programs, particularly Medicare. On the contrary, Elmendorf said, the measures would pile on an expensive new program to cover the uninsured.”

Bill, Fairfax, VA

Exactly. The only way to make the HCR bill at least balanced, ie., not even reducing costs, is to tax the health care benefits of people. Obama and the Dems will never do this though because that would require shared responsibility of payment for their so called "free" health care.

Mike T., Iowa (Sent Friday, July 17, 2009 10:07 AM)

Joseph Reeder MD: If you lose your healthcare insurance provided by your employer, that same insurance company WILL NOT INSURE YOU IF YOU HAVE A PREXISTING CONDITION. If you do not have such a condition, you cannot get insurance from that company without paying close to $1000.00 per month.

Judy in AZ (Sent Friday, July 17, 2009 10:09 AM)

*** Dem vs. Dem? Nelson, of course, is one of a handful of Democratic senators who is seeing the DNC run TV ads on health care in his backyard.
##################################################

Cool, if they don't like being singled out for being slackers and obstructers, they need to do the job they were elected to do or be replaced in the next election.

Anita, Birmingham, Alabama (Sent Friday, July 17, 2009 10:09 AM)

Which means BCBS are against the proposals going through Congress. The Congressional proposals INCREASE costs to unsustainable levels, they not decrease them. Also the Congressional proposals do not provide universal coverage. So there is a mjor disconnect between what Congress is doing and what BCBS is talking about.
Tim Watters, SF CA (Sent Friday, July 17, 2009 9:55 AM)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Ummm... that was the POINT!

Of course BCBS is AGAINST it - public option will create that pesky competition which in turns means BCBS will no longer be able to gouge it's members as they've done for decades to line their pockets at the expense and lives of Americans!

Feisty Redhead Roselle, IL (Sent Friday, July 17, 2009 10:10 AM)

Back it UP or SHUT UP!

Feisty Redhead Roselle, IL (Sent Friday, July 17, 2009 10:00 AM)

---------------------------------------
Don't worry, Tish, it's a rare occassion when Feisty backs up her rants and name-calling with real facts.

Beautiful Brunette (Sent Friday, July 17, 2009 10:11 AM)

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