(2008-09-16) — Yesterday Sen. John McCain called for a high-level commission to investigate the current economic crisis and to propose solutions. Today, the commission released its final report calling for the federal government to immediately withdraw from Wall Street, the home mortgage market and “other sectors where government intervention has undercut the principles of free-market capitalism.”
The commission, which convened at the Cracker Barrel Restaurant in Fogelsville, Pennsylvania, issued its recommendations before the waitress brought out the dessert menu, and it called on presidential candidates from both major parties get behind its agenda of common-sense reforms.
The panel, comprised of a truck driver, a Wal-Mart People Greeter, a self-described public school “cafeteria lady” and “that old guy who’s always sitting by himself at Cracker Barrel”, noted that “as long as people don’t have to bear the consequences of their behavior, or they think that the government will bail them out if they fail, they’ll take irrational risks.”
“To restore confidence among global investors in the U.S. economy,” according to the McCain Cracker Barrel Commission report, “the government must stop trying to mitigate uncertainty, and realize that uncertainty is the juice that creates the potential upside in markets. Without risk, there is no reward. Without potential reward there is no investment. Without investment, the greatest standard of living the world has ever seen would be history.”
28 responses so far ↓
1 politicjock // Sep 16, 2008 at 11:02 am
Why does a so called “maverick” like John McCain need to embrace the tactics of distortion, of outright lies in the current political race that looks as if it has become as down and dirty as any election in recent years? Doesn’t a maverick refuse to join the herd, to march to a different drummer? If John McCain has already employed the tactics of the last eight years of the Bush administration (lies and deceit as in Iraq’s WMD or that Iraq was responsible for 9/11), hasn’t McCain already shown that his administration (should he win the election) will simply be a continuation of the untruths and distortions that are a hallmark of George Bush and Company?
2 JamesonLewis3rd // Sep 16, 2008 at 11:07 am
No.
3 gafisher // Sep 16, 2008 at 11:24 am
I love the roasty smell of fuming trolls in the morning!
4 gafisher // Sep 16, 2008 at 11:41 am
Meanwhile, Obama’s hastily assembled Commission reported from Beverly Hill’s trendy Le Baril de Porc that a new entity should be created along the lines of Freddie (Mac) and Fanny (Mae). Tentatively referred to as Wall-e, the new Wall Street Oversight Bureau would be empowered to guard the US investment market in much the same manner as the other two have guarded aspects of the loan market. The phrase “like a pit bull” was quickly overruled.
As the waitress arrived with freezer-fresh bundles of foil-wrapped cash, members of the Commission, including “the old guy who hangs out just inside the Senate Cloak Room,” announced in unison that it was getting awfully late yada yada …
5 ep29030 // Sep 16, 2008 at 1:02 pm
But the critical question: was the commission funded with taxpayer dollars? Congress has decided that there’s no financial mountain too steep, as long as it fits their personal ideology (or, idiotology) and is funded from YOUR pocket.
6 Ms RightWing, Ink // Sep 16, 2008 at 1:14 pm
How ironic. Across the street from the bunker sits a drive-in called Winks-a popular 50’s style hamburger eatery that is frequented by an, ahem, older lady in a powerchair who stalks both cars and visitors with her Nikon camera.
As I sat there with the owner talking about chapters from my forthcoming book, such as The Day Finneous Fell From the Sky and the Carter Edwards episode where he brought the dilapidated computer into the house that contained a virus that soon killed his grandmother.
I am not sure if Fanny Mae entered into our conversation, but I did suggest to the owner that he create a triple layer cheeseburger covered with a pile of jalapeno peppers, drenched with chili and topped with more cheddar cheese and call it a Freddie Mac.
The man sitting in the booth behind me asked why he, the owner, should make such a burger called a Freddie Mac, so I answered him in a calm but intelligent tone that such a burger consumed in numerous amounts would soon kill the consumee or worse yet clog every artery known to medical science causing a great expense to his insurance plan, eventually drying up his benefits which in turn would create a financial meltdown.
I am not sure if McCain would approve of such a burger. Also there is a certain doubt on whether or not this was even a town hall meeting. The coffee was good, the laughter was much needed after Ike caused damage to our area to the extent he had to toss much of his food into the trash because of the lack of refrigeration.
So McCain, if you are reading this, we here at Winks concur that Bernie mac, er Freddie Mac, feeding the poor and downtrodden who saw the opportunity to ride on the gravy train was a certain way to clog the financial markets.
But the burger did sound good.
7 R.A.M. // Sep 16, 2008 at 1:25 pm
The TRUTH, (that most people that still use a portion of their grey matter know), is, no matter how bad things LOOK, they will only get WORSE, under a O’Bama/Biden-my-time, administration.
I would sooner have another 4 years of the “Peanut Prez”.
Only kidding, but I wouldn’t put it past “The “O”", to put Jimmy in his admin!
8 da Bunny // Sep 16, 2008 at 1:50 pm
Brilliant, Scott!! Especially that last paragraph.
9 mig // Sep 16, 2008 at 1:50 pm
Jimmy would head what dept? Foriegn Affairs?
10 gafisher // Sep 16, 2008 at 2:17 pm
Fascinating. CNN is reporting that Obama and his team wanted nothing more than a huge Wall Street disaster. Perhaps we’ll find that Obama’s “Commission” exists in the theological sense.
11 RedRum151 // Sep 16, 2008 at 2:28 pm
Obama : “We dare not withdraw from Wall Street at this critical moment! If we do, the capitalists will have won!”
12 gafisher // Sep 16, 2008 at 3:24 pm
The DNC’s much-touted Carbon Credit program was a rousing success. Who thinks these people deserve to be in charge?
13 Hawkeye // Sep 16, 2008 at 3:27 pm
Well said Scott. Kudos to the Cracker Barrel Commission.
Personally, I think this whole thing is overblown. We survived the Savings & Loan crisis, the Enron scandal (et al.), oil embargoes, 9/11, etc. This is not the Great Depression for cryin’ out loud. During the Depression, 50% of American homes were in foreclosure compared to less than 3% today. So what if a few Wall Street sharks have to look for another job? It might do them some good.
14 camojack // Sep 16, 2008 at 5:11 pm
“Yesterday Sen. John McCain called for a high-level commission to investigate the current economic crisis and to propose solutions. Today, the commission released its final report…”
Well, that was quick! De gubmint doesn’t really move that fast though, which is generally a good thing, actually.
“The commission, which convened at the Cracker Barrel Restaurant in Fogelsville, Pennsylvania…”
Hey!!! I know that Cracker Barrel; it’s on Route 100, just off of (and easily seen from) I-78.
15 Darthmeister // Sep 16, 2008 at 6:34 pm
Hey, this would make a good ad for the McCain campaign:
James A. Johnson - former Fannie Mae CEO and Obama Advisor
Just cost you billions in taxes
Franklin Raines – former Fannie Mae CEO and Obama Advisor
Just cost you billions in taxes
Barack Obama received over $600,000 in political money from Freddie Mac and Fannie May in less than two years
– If we can’t afford his advisors and his dealings, how can we afford him in the White House?
16 mindknumbed kid // Sep 16, 2008 at 6:51 pm
Hit and run for now. Try this link for facts:
http://www.freerepublic.com/focus/f-news/2083758/posts
17 mig // Sep 16, 2008 at 8:26 pm
Maybe it is the media that has us divided.
- First Lady Laura Bush
18 mindknumbed kid // Sep 16, 2008 at 8:39 pm
JL3, re#2 - Great post!
mig, re#17 - Maybe it is Satan’s minions…on second thought, the First Lady might be on to something!
wv- Raven 31.-Former… I need help on that one, any Ravens fans know who that was?
19 camojack // Sep 16, 2008 at 8:42 pm
mig // Sep 16, 2008 at 8:26 pm
Maybe it is the media that has us divided.
– First Lady Laura Bush
On a related note…
20 mindknumbed kid // Sep 16, 2008 at 8:51 pm
So has McCain/Lady Sarah Palin cited the Federal Housing Enterprise Regulatory Reform Act of 2005 in the past few days? I have not seen or heard of him doing that, so if not, then why not? That is the best ammo he has to shoot this whole mess down, and it is the truth! I want to start hearing and seeing it NOW. Anyone know Palin’s email address?
wv- manufacture ANGER. Is It MoveOndotcom?
21 Fred Sinclair // Sep 16, 2008 at 8:52 pm
Newsbusted’s Jodi Miler - “Hi, I’m Jodi Miller. lets get started - On 9/11 both John McCain and Brack Obama visited “Ground Zero”; McCain was there to remember the victims, Obama was there to remember the hijackers”.
“Pamala Anderson lashed out at Sarah Palin ‘I just don’t like her she can just ’suck it’ - Just goes to prove you can put lipstick, fake breasts and hepatitis on a pig and you’ve still got Pamala Anderson.”
B.O. STINKS.
22 Ms RightWing, Ink // Sep 16, 2008 at 9:08 pm
Look at this, 7,500 people from Youngstown? Big union steel town out to root for McCain Palin. Wow!!!
If the Stinkin Journal said 7,500 you could really know 10,000 were there
************************************************
7,000 cheer McCain, Palin near Youngstown
Senator says he would shape up Wall Street
By Stephanie Warsmith
Beacon Journal staff writer
POSTED: 06:38 p.m. EDT, Sep 16, 2008
VIENNA: Sen. John McCain promised a crowd of more than 7,000 Tuesday near Youngstown that he would get tough on Wall Street.
”Government has the responsibility to act in the public interests,” he told the boisterous audience that filled an expansive hangar at the Youngstown-Warren Regional Airport. ”That’s exactly what I intend to do.”
The crowd was eager to hear McCain and running mate Alaska Gov. Sarah Palin, who made their first joint Northeast Ohio appearance.
Palin was clearly a big draw for many, including a few women who waved their lipsticks in the air — a reference to a quip Palin made during the Republican National Convention.
Many wore McCain-Palin T-shirts and buttons and waved signs in the air.
McCain and Palin were both joined by their spouses.
Palin had been in Canton on Monday, where she attended a $2,500-a-plate fundraiser at the Brookside Country Club that raised nearly $1 million for the Republican National Committee, W.J. ”Tim” Timken Jr., the Timken Co. chairman, told the Canton Repository.
23 Scott Ott // Sep 16, 2008 at 9:15 pm
Someone has posted the previous story [Abortion-Survivor's Attack Ad Could Backfire] to the social bookmarking site, Digg. The more people see the story there, and “Digg” it, the more people will be exposed to it. If you would like to see this story get wider circulation, feel free to visit this link, and Digg it.
BTW, under ScrappleFace story you’ll find a “Share This” gizmo that allows you to submit it to Digg and many other such sites, or even to email it to friends. (Yes, that’s what that thing is for.)
24 mindknumbed kid // Sep 16, 2008 at 9:20 pm
The “Screamin’ Demon” asked Obefuddled for some smack to lay down to help elect some more ‘rats, but the greedy weasel doesn’t play well with others. If he did, his half brother wouldn’t be livin’ in that shack poor and forgotten.
Hummm, I wonder what sort of mission work the Wright church involves itself in?
25 mindknumbed kid // Sep 16, 2008 at 9:26 pm
et - This is your conscience….abortion is wrong…supporting pro-abortionist candidates is wrong…the good folks at Scrappleface are right…don’t fight the truth…don’t fight the truth…don’t fight the truth…….
26 egospeak // Sep 16, 2008 at 9:30 pm
MKK, re: 18
#31, formerly of the Baltimore Ravens, now # 31 of the… Cleveland Browns, Jamal Lewis, running back out of U of Tennessee, drafted by Baltimore in 2000, signed as a free agent by Cleveland after the 2006 season.
Regards,
27 mindknumbed kid // Sep 16, 2008 at 9:34 pm
egospeak - good work on that one! I sorta like the Browns…
28 Fred Sinclair // Sep 16, 2008 at 10:10 pm
BURN NOTICE - Episode 206 - “Bad blood” - Main character Michel Weston, “What you need is a Forensic Accountant.”
Now today on Rush’s show he played a clip of B.O. talking about the Fannie/Freddy mess. I don’t have the exact quote but it was basically ‘I want to get a forensic accountant busy looking into what went wrong.’
The field of forensic accounting is so highly specialized (used for giving “expert testimony” in trials) - just made me wonder if B.O. realized that if one was called in and audited himself, he’d go straight to prison.
Forensic accountants are incredibly thorough. In a sarcastic vein, I’ve heard them described as accounting for each and every stick of gum you’ve ever bought and how you disposed of it after you finished chewing it.
I don’t think B.O. would want that kind of microscope looking at HIS finances. It would more than likely erase his run for the Presidency.
I was an accountant for over eleven years - but I was not a forensic accountant. I worked in the Accounting and Finance Office in the U.S. Air Force.
B.O. STINKS
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