Skip to main content

I hate when I hear the crowd cheer Obama when he starts promoting the Bailout.

Obama has a conflict of interest. His biggest campaign contributor is Goldman Sachs. Number 3 is JP Morgan Chase. Many more banks follow closely behind. McCain gets lots of Finance Industry money too but Goldman Sachs gave Obama more than 3 times as much as McCain.

Major Campaign Contributor from first round pre-primaries

Why do you think Congress began cheering for the bailout before they even had time to study or discuss it? Follow the money. They are in a tight place. The Sheeple have awoken. Congress can't risk being voted out of office by angry voters but they dread not supporting the bailout and losing the money they get from the banks. The party leaders get the biggest donations so they are pushing the hardest.

They have sold us out and Obama is smart enough to know it. Wall Street will siphon off as much of this money as they can with their exhorbitant salaries and tricky bookkeeping.  I am very disappointed in Obama for supporting this but what can I do? Vote for McCain? Waste my vote on a 3rd party?

I like Ron Paul but he is wrong. We do need to vote for the lesser of two evils. Barack Obama

Originally posted to Thrilltone on Wed Oct 01, 2008 at 06:26 AM PDT.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  "I'm very dissapointed in Obama..." (6+ / 0-)

    Thank you, have a nice day.

    Somewhere...Abraham Lincoln is smiling.

    by David Kroning on Wed Oct 01, 2008 at 06:29:14 AM PDT

  •  ACORN + WALL STEET = Obama (0+ / 0-)

    "Invest In America, Instead of Iraq. Vote Democratic"

    by manumit on Wed Oct 01, 2008 at 06:30:19 AM PDT

  •  I agree with you (0+ / 0-)

    Obama had the right idea from the start.  Come up with a set of principles and then stay out of the details until it's time to vote on a bill.  He slowly got sucked into commenting on the infolding debate because McCain politicized the situation.

    "Is this the United States Congress or the board of directors of Goldman Sachs?" -- Dennis Kucinich

    by noofsh on Wed Oct 01, 2008 at 06:30:23 AM PDT

    •  I have really mixed feelings about this (0+ / 0-)

      "bailout". I hate that our government for two years now ignored the problems of average middle class Americans, losing their homes, losing their jobs, losing their health care. These were very real problems and many people suffered greatly. Now when credit has become tight for business, it has become urgent that something be done, and done to the tune of one trillion dollars.
      Having said that if nothing is done, then there is no hope in the near future to save others who are looking foreclosure right in the face. There is no hope for those of us who live on credit cards from month to month, and not for luxury items, for necessities, like paying for electric, and water bills. There are those of us who have no choice but to do this, because either they are out of work, or salaries have been decreased and we just can not stretch our dollar any further. More jobs will be lost and more people out of work, if something is not done.
      I can see the need for Obama to support this bailout, and I think it goes beyond the campaign contributions he has received from Goldman Sachs. Barack Obama is committed to pulling up the middle class, creating new jobs, especially in the field of alternative energy, as well as offering some relief to the health care crisis in this country. Campaign promises or real commitments. How do you think he will accomplish anything he has stated if our economy goes into not just a recession, but a depression. If credit dries up that is exactly what will happen, and not just on Wall Street, but it will only get much worse on Main Street. Another consideration is what the hell will the U.S. do if foreign investors pull out of financing our National Debt. Will Social Security and Medicare be dismantled?
      The way I see it, this is a bad proposal, but it might be the only game in town, the only chance there is to bolster up our failing economy and keep foreign investors from bailing on us.
      Yes, it is unpopular, and neither John McCain or Barack Obama will stick their necks out to explain in detail to the American people what could happen if this "bailout" fails.
      If you want to be President, the one thing you need to do is to take a stand, a firm stand, an unpopular stand but a stand none the less. My advice to Barack Obama is to either support this bill, and explain it to the American people, Obama's biggest asset is his ability to inspire, now more than ever this is a time for inspiration. Obama needs to either inspire people to support this bill or to oppose it, he needs to take a stand, and stop these silly political games. He sounds like he is supporting the plan, the polls show that there is a very good possibility he will be our next President of the U.S., therefore he has the standing to demand certain things be put in this bill, but he can only do this if he comes out in favor of the need for this bill, with certain modifications. For example, either a fine or a tax on investment firms to help mitigate the present or future costs. In this case, half-hearted support or a yes vote in the Senate is simply not enough. Barack Obama talks about things not being easy, and we will all have to work hard for change, well this "bailout" may be his first opportunity to prove that. I doubt that he will listen to my advice, because this is politically risky to do so, but half-assed support doesn't prove courage or leadership. When you are blessed with the gift to inspire others, it is time to put that gift to a constructive use.

  •  I'm with Obama (5+ / 0-)

    Maybe we can do a better rescue plan, but there is no question a rescue plan is needed.

    Screw Goldman Sachs. Paul Freakin' Krugman is saying it's necessary. I am not prepared to have to watch a Depression-era Obama presidency deprived of the ability to offer hope just so we could stick it to Wall Street.

    Many people on both the right and the left are outraged at the idea of using taxpayer money to bail out America’s financial system. They’re right to be outraged, but doing nothing isn’t a serious option. Right now, players throughout the system are refusing to lend and hoarding cash — and this collapse of credit reminds many economists of the run on the banks that brought on the Great Depression.

    "Instead of prosperity trickling down, the pain has trickled up..." - Barack Obama.

    by Bobs Telecaster on Wed Oct 01, 2008 at 06:31:42 AM PDT

    •  You are so right on this one, I have (1+ / 0-)
      Recommended by:
      Bobs Telecaster

      never in my life heard of so many people taking their money out of banks and keeping it at home, where they think it is safe. The one thing they don't realize it might be safe, but the more money that is hoarded at home, the less that money will be worth. What good is it to keep $1,000.00 under your mattress, when in less than 6 months it will only be worth $500.00. It is really too bad, our elected officials from every tier are more worried about their political careers, and not about doing the right thing. What makes this even more maddening, is some of these folks, have plenty of money stashed in Swiss bank accounts, so what ever happens they will still survive, but will we.

  •  from where do you get your donation numbers? (2+ / 0-)
    Recommended by:
  •  People that are smart enough (1+ / 0-)
    Recommended by:
    MA Voter

    to steer us through this crisis are going to be people that are smart enough to have benefited from it.  It's not illegal to make money in the market and we need to get okay with the fact that we're going to need some of these people to get out of this.  The common man who invests casually isn't going to have the chops to figure this out.  

  •  He gets (2+ / 0-)
    Recommended by:
    elbamash, MA Voter

    way, way more money from normal people like you and me who several well-respected, liberal economists say could be threatened by a coming systemic credit crunch.

  •  Until someone offers an alternative to the bailou (2+ / 0-)
    Recommended by:
    Vera Lofaro, MA Voter

    t, how can I oppose it?  I hate saving the institutions that screwed things up, but we need them too much. Can you imagine what it would be like if businesses could no longer stay open for lack of credit? Can you imagine how high food costs will go up?
    I can. That's why people smarter than you or I are supporting an improved bailout. But nonetheless a bailout it will be.

    •  That's like saying; (2+ / 0-)
      Recommended by:
      phrogge prince, audiored

      My wife and child have been taken hostage by a terrorist. The Swat team wants to burn the house down. Until someone offers an alternative plan, how can I oppose it?

      •  That has to be (2+ / 0-)
        Recommended by:
        BetMyCitizenship, MA Voter

        one of the worst analogies ever in the history of analogies. The idea of an analogy is a parallel. I am having trouble seeing even one here.

        "Instead of prosperity trickling down, the pain has trickled up..." - Barack Obama.

        by Bobs Telecaster on Wed Oct 01, 2008 at 06:41:36 AM PDT

        [ Parent ]

      •  The one thing you forget is this is only (1+ / 0-)
        Recommended by:
        MA Voter

        money. We have trusted these people with the control of money for years now, so what the hell, it is only another trillion dollars, it is worth the gamble. People need to stop being so selfish. I have heard more people say, they oppose this because the government didn't rush to my aid and bail me out, well that's life, and life is not fair, it is those with the most who get the most, and until we do something to turn this around, it will always be that way. People need to look forward towards the future, and not dwell in the past. The fact is if this is approved, at least there is a chance to stop the foreclosure rate, and turn the housing crisis around, and that can only benefit all of us. If we do nothing, nothing will ever get better.

  •  Hay look, it's a GOP talkingpoint diary! (1+ / 0-)
    Recommended by:
    MA Voter

    Kind flat on analysis arn't ya?

    "I'm a pessimist because of intelligence, but an optimist because of will" - Antonio Gramsci

    by HGM MA on Wed Oct 01, 2008 at 06:44:52 AM PDT

  •  Damn, am I on dKos or not? I suppose a (2+ / 0-)
    Recommended by:
    David Kroning, MA Voter

    'thanks-for-your-concern' note is in order.

  •  another Obama should diary .... how nice (0+ / 0-)


    May your entire existence be one sensuous, frolic-filled experience lived in defiance of care.

    by MA Voter on Wed Oct 01, 2008 at 07:23:14 AM PDT

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site