myopiclunacy.com

It failed because it wasn’t sold properly.

Washington – A sweeping rescue plan for US financial markets foundered in the US House Monday on a combination of doubts about the plan, reelection concerns, disdain for bailing out Wall Street bankers, and a deep philosophical distaste for massive government intervention in the private sector among conservatives.

The Dow Jones stock index plunged a record 777.68 points on the day - a reaction that Democrats say could pave the way for a new vote, as early as Thursday.

Despite opinion polls showing that the public was warming to the idea of a rescue plan – and efforts by congressional leaders on both sides of the aisle to round up support – the measure failed 205 to 228, with 95 Democrats and 133 Republicans voting to scuttle the proposed $700 billion bailout. Most lawmakers had been deluged with calls and e-mail from voters angry that, as they see it, taxpayer dollars would be used to bail out Wall Street fat cats.

It was clear from lawmakers’ post-vote comments, especially among conservative Republicans, that the bill represented nothing short of a repudiation of values – such as faith in small government and market mechanisms – that they have cherished since the days of Ronald Reagan.

Link

They didn’t properly spell out the consequences of a series of failing banks - i.e. lost jobs, a prolonged recession, and basically bad times. Banks with bad loans (subprime loans they can’t properly value) can’t lend more money for businesses to grow and create new jobs. So we’re basically left with stagnation. And if these House Republicans think that regulation is bad, what do they call the lack of regulation that got us into another fine mess?

Stephen Colbert disagrees (but his talking points agree!). Check out the video - preceeded by a simply awesome review of some fair-and-balanced Florida Jewish voters watching the debate:

Original Video - More videos at TinyPic
Shalom.

Popularity: 5% [?]

2 minutes to go, 13 point lead, 4th and 5 at the 20 and the jets line up in shotgun and go for the endzone, score a TD, then go for 2.

And the best part - fucking FOX doesn’t switch to the Cowboys Redskins game at 4:15 like they’re supposed to for teams playing out of market.

This whole league is in the tank for a low class punk and I can’t take it anymore.

Popularity: 5% [?]

I might just have to go out and buy this edition.

Stewart & Colbert: Exclusive Q&A

In the midst of re-creating the controversial New Yorker cover illustration of Barack and Michelle Obama for the cover photo that graces this week’s print edition of Entertainment Weekly, Jon Stewart stops briefly to pose a taste question. As he stands by the catering table in ‘’secret Muslim” garb, he ponders, ”Would it be weird to be dressed like this and have a bagel, salmon, and a schmear?” Pseudo-blowhard Stephen Colbert has his own worries. Striking his best Michelle-as-Black-Panther pose, he glances at the original cartoon and realizes that he’s ”hippier” than the potential First Lady. Gesturing at his own waist, he moans, ”I could drop a baby like a peasant.”

more…

Popularity: 6% [?]

Chinese astronauts wave to cameras, remove make-up, drive home.

Chinese publish tales from space, even before take-off - Times Online

With a burst of flame and smoke, a Chinese rocket blasted off into orbit yesterday. But it was the state news agency that moved faster than the speed of light, publishing the transcript of an “in-space” conversation between the astronauts before they had even left Earth.

The Xinhua news agency posted an article on its website breathlessly describing the Shenzhou VII spacecraft in orbit and quoting exchanges between the crew, possibly during the most important part of the mission: China’s first spacewalk. The only problem was that the crew were still on terra firma.

The story had disappeared by the end of the day and its appearance was described as a technical error. The gaffe highlighted China’s readiness to resort to sleight of hand — if not outright fakery — to present a perfect public image, such as the little girl who lip-synched at the Olympics opening ceremony because the child who did the actual singing was not deemed pretty enough.

Back in real time, China yesterday really did launch the riskiest mission so far of its fledgeling space programme, sending three astronauts on a voyage whose highlight will be the space walk.

I guess his forclosure/bankruptcy was worse than we thought

McGangsta: Ed McMahon to rap in viral videos

LOS ANGELES (AP) — Ed McMahon has an unexpected new job title: rapper. The 85-year-old former “Tonight Show” sidekick will star in two viral rap videos for FreeCreditReport.com, a financial Web site owned by credit bureau Experian.

The videos feature McMahon wearing a tracksuit, being chauffeured around Los Angeles in a Cadillac Escalade golf cart and waxing lyrical about his very public financial troubles.

“I knew I could sing the blues, but I didn’t know I could rap,” McMahon said Wednesday.

The videos will appear online in October.

Charles Harris, FreeCreditReport.com’s vice president of strategic marketing, said the company sought out McMahon to star in the humorous spots after seeing him openly discuss his finances on “Larry King Live.” Harris said McMahon represents “a man who is taking charge.”

The only illusion here is that people are still paying this guy. What? ABC couldn’t find anymore “funniest home videos” to fill the timeslot?

The Blaine Game - No dive, no death

Illusionist David Blaine’s upside-down stunt in New York has been labelled a sham by onlookers, while he has admitted it ended in failure.

The crowd gathered in Central Park booed as he was lowered on a rope attached to the metal harness used to suspend him upside down for 60 hours, the Daily Mail reports.

Blaine, 35, was accused of cheating after taking breaks to go to the toilet, drink and receive routine checks by a doctor, but said he had always intended to take the breaks.

“I think the confusion that people had is they didn’t understand: ‘why is he taking breaks’,” Blaine said.

“The truth of the matter is there’s no way to relieve yourself and not put everybody beneath you at risk, basically.”

“I had to keep hydrated since I was fasting - if I was eating then I would need to take real breaks.”

The New York Daily News reports that before being hoisted above the ground, he told reporters he intended to drink through a straw and urinate through a catheter during the stunt.

‘Give us a break’ their headline read, saying there were more boos than cheers.

But Blaine took five-to-ten minute breaks every hour, standing upright on a cherry picker as he drank water and went to the toilet.

“I’m not going to pee all over myself to satisfy those people,” he said.

Blaine also blamed his failed “Dive of Death’ finish on a delay caused by President George Bush’s TV address on the state of the economy.

He said strong winds forced to him to cancel a 44ft plunge to the ground as the dramatic ending.

The Daily Mail reports that he should have been lowered at 9pm on Wednesday night, but had to wait an extra 15 minutes.

Blaine said while waiting for the address to finish the wind picked up and producers of his TV special advised him against the spectacular ending.

He accepted people were left disappointed by the stunt.

“I knew that it didn’t work right when all my friends called me up and said: ‘Wait, what happened, I’m confused’,” he said.

Critics said the ‘Dive of Death’ title was deliberately misleading as ‘there was no dive and thanks to regular breaks when he was allowed to stand upright with little risk of death’, the Daily Mail reports.

Popularity: 5% [?]

Holy Frijoles. Dave Letterman was apparently RED HOT about John McCain suspending his campaign to race back to Washington to deal with the “cratering” economy and cancelling his scheduled appearance on the show last night. Dave spent literally THE ENTIRE SHOW just railing on McCain. It was BRU-TAL.

In addition to repeatedly mocking McCain for skipping out on his scheduled appearance Wednesday, Letterman also devoted, fittingly, his nightly top 10 list to the subject of “Questions People Are Asking The McCain Campaign.” Number Five: “Are You Doing All This Just To Get Out Of Going On Letterman?”

Brutal ESPECIALLY after they found out he was indeed not racing back to Washington, but taping an interview with Katie Couric - a fellow CBS employee!!

“In the middle of the taping Dave got word that McCain was, in fact just down the street being interviewed by Katie Couric. Dave even cut over to the live video of the interview, and said, “Hey Senator, can I give you a ride home?”

Earlier in the show, Dave kept saying, “You don’t suspend your campaign. This doesn’t smell right. This isn’t the way a tested hero behaves.” And he joked: “I think someone’s putting something in his metamucil.”

“He can’t run the campaign because the economy is cratering? Fine, put in your second string quarterback, Sarah Palin. Where is she?”

“What are you going to do if you’re elected and things get tough? Suspend being president? We’ve got a guy like that now!”

It was EPIC. Video below

Popularity: 6% [?]

McCain camp to propose postponing VP debate

McCain supporter Sen. Lindsey Graham tells CNN the McCain campaign is proposing to the Presidential Debate Commission and the Obama camp that if there’s no bailout deal by Friday, the first presidential debate should take the place of the VP debate, currently scheduled for next Thursday, October 2 in St. Louis.

can you be more transparent? Don’t fall for this bullshit.

Popularity: 4% [?]

• The Wrong Emergency http://tinyurl.com/5yfk4s "…the question of whether markets will eventually right without a federalization of … #

Powered by Twitter Tools.

Popularity: 7% [?]