Thank God for Jesus!

Yes. We. Can.

MT: Thanks. Note, folks, that the esteemed representative of the New Republic has no idea what the hell a credit default swap is. But he sure knows what a minority homeowner looks like.

Well, that was only some of the American People, the other American People went to the banks and said, "LEND ME MONEY, I WANT TO BUY A HOUSE!". The banks refused, "We can't lend you the money, you don't make enough to pay it back." The people responded, "IT DOESN'T MATTER. THE HOUSES ARE GOING UP IN PRICE. IT'LL BE WORTH MORE TOMORROW THAN IT IS TODAY." Again, the banks complied. What choice did they have?

Wait.... that's the most fucking retarded thing I've ever heard.

Let's assume that it's true that Americans knew that they could borrow money that they didn't intend to pay back. If I lent a junkie $30 bucks to buy food, and he used it to buy dope and was unable to pay it back, who would you blame for that situation? Me or the Junkie? Am I comparing Americans to Junkies? You'd like to make it an issue. Only it's irrelevant. Here is the relevant part. Banks are responsible for the consequences lending money. Publicly traded Financial institutions are responsible to the shareholders to not take on too much risk that may eventually sink the corporation.

The American People in no way have enough influence to broker a crisis of this magnitude. Even if they did (and some may argue that they do), ultimately the banks hold the keys. Proper business practice wouldn't allow borrowing to the point of pushing the economy to the brink of collapse but that's the point, isn't it? Proper business practice is thrown out the window when money is to be made. I'm sure the executives at Lehman Brothers, Merrill Lynch, AIG, Bear Sterns, etc, etc. cried all the way to the bank bemoaning the unstoppable crisis they are unable to prevent while they cashed their million dollar bonus checks.

At any rate, Naomi Klein makes a good point. If John McCain becomes President, he will use the debt incurred by the bailouts to enact policies they wouldn't otherwise be able to accomplish. They will use the excuses of the shortfall to make tax breaks permanent, to privatize health care, to slash medicare, to deregulate health care all the things that will eventually lead to another crisis, but for the short term line the pockets of the corporations and the rich. The real disaster is the debt the nation has to carry to bail these companies out.
 

“I am prepared. I am prepared. I need no on-the-job training. I wasn’t a mayor for a short period of time. I wasn’t a governor for a short period of time.”

WASHINGTON (AFP) - Scientists from a US firm claim to have created a large number of red blood cells from human embryonic stem cells, opening up the prospect of having a limitless supply of blood for transfusions.

"Limitations in the supply of blood can have potentially life-threatening consequences for patients with massive blood loss," said Robert Lanza, chief scientific officer at Advanced Cell Technology (ACT), a Worcester-based company.

NEW YORK - Looking to entice those hungry for a healthier option, Dunkin' Donuts will begin offering a new slate of better-for-you offerings in August.

The menu, which will debut in stores Aug. 6, will feature two new flatbread sandwiches made with egg whites. Customers will be able to choose either a turkey sausage egg-white sandwich or a vegetable one. Both will be under 300 calories with 9 grams of fat or less, the company said.

"We just felt it was important to provide some choice in our menu," said Will Kussell, president and chief brand officer.

LOS ANGELES (Reuters) - Starbucks Corp said on Tuesday it plans to close 600 underperforming stores and eliminate as many as 12,000 full- and part-time positions, lifting shares nearly 6 percent.