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Sept. 23, 2008 - Rush Limbaugh Program
37:25
September 23, 2008, Tuesday, Hour #1
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Time Text
Welcome to today's edition of the Rush 24-7 podcast.
Well, I needed something to make me laugh, ladies and gentlemen, after yesterday, after the weekend, and I found it today, the Senate hindsight hearings on uh what is being called a bailout.
I actually don't think it's proper to call it a bailout, but it's a fine point, but nevertheless, what a comedy.
If the subject matter weren't so serious and dire, this would be a comedy.
This is a bunch of senator blowhorns and foghorns, all giving their opening statements.
We're looking at the Colonel, we're a bunch of Colonel Sanders telling the chickens that they shouldn't have come into the coupe.
I mean, these are the guys that screwed this up in many cases.
Anyway, greetings, folks.
Great to have you here.
Uh it's finally time for the EIB network.
I know you've been as eager for this to start as I have.
Telephone number 800-282-2882, the email address L Rushbow at EIBNet.com.
Have you noticed, uh ladies and gentlemen, there is a uh there's a new Democrat Party buzzword going around here about this so-called bailout, and it's called blank check.
Democrats have reacted to the this this proposed bailout of the financial industry, 700 billion dollars.
Nancy Pelosi says Main Street must be protected from Wall Street.
Well, whatever the hell that means.
I mean, this is this I'm glad she's the one saying it.
Too often, Senator McCain's gotten close to sounding like that.
Uh she said the Democrats will not write a blank check.
On the campaign trail, Lord Barack Obama, the most merciful, echoed the Wall Street versus Main Street line.
He said that Congress must have oversight.
That's what Pelosi wants.
That means they want their hands in the stash to be able to direct where it goes.
And uh Obama, the man child himself said, by the way, he's in terrible.
He's terrible news, poll data wise.
He's down four and oh his only good news right now is Virginia, where he's up ten.
But he's down in Ohio by four.
He the Hillary babes are not flocking to him at all.
He didn't draw any kind of a crowd in Green Bay yesterday.
He was shadowing McCain.
McCain's in Green Bay last week.
Obama goes there.
Wherever Palin Obama goes, Obama uh uh or McCain goes, then Obama shows up uh later.
It's just it's you know, don't there's concern out there.
There is rabbit and Biden folks, it would take me an hour to review every gaff that Joe Biden tried to intimate that uh bin Laden shot his helicopter down in Afghanistan.
He didn't actually say that.
I know what it's like, I know where bin Laden is.
Two must Senator Buddies and I were forced down over it.
It was a snowstorm that forced them down, and it was John Kerry who made this point clear.
And then he's he's out there saying no more coal plants, no more coal.
Let the Chinese build them, let the Chinese destroy us.
Let the Chinese destroy buddy's lungs, let the Chinese pollute.
We gotta say, we're not no more coal plants here.
He out then he said that the Obama's commercial on AIG was was was too unfair to McCain.
And then Obama goes on the Today Show, says uh Joe spoke too soon.
Uh there is something going on here.
I mean, this this I mean I I begged for Biden.
I begged him to give us Biden.
They gave us Biden.
But this is this is even better than I imagined.
Okay, so we have to have we have to have a blank, or we're not gonna have a blank check.
This solution cannot be a blank check, and that Lord Obama said we have to make sure that there's some accountability mechanism in it.
Well, that would be a first.
We want oversight, said Chris Countrywide Dodd, who by the way got slapped down today pretty well by uh by by by Hank Paulson.
We got the audio coming up.
Sit tight, hang in there, beat be tough, be cool, it's all coming up.
We want oversight, said Chris Countrywide Dodd, demanding accountability.
Barney Frank, who thwarted the Bush administration's attempts to reform Fannie Mae and Freddie Mac back in 2003, had the gall to say, the private sector screw the private sector.
I hate the private sector.
And it's up to the government to uh get us out of it, he said.
And then he said, We demand strong oversight.
Now, a little news flash for you guys and the Democrats.
You had oversight.
You were oversight.
It was your oversight and Bill Clinton's proposals, which mandated that banks loan money to people who couldn't afford to pay it back.
It was your oversight that Fanny and Freddie created so-called toxic loans.
And it was your buddies and your pals and your donors and your advisors who looted Freddie Mack and Fannie Mae.
And now, now, after it's all blown to smithereens, they want accountability.
In their hindsight hearings today.
This is about as laughable as the 9-11 Commission hearings were.
The only thing missing here is Jamie Gorellick and Janet Reno sitting in as staff members for Chris Dodd.
If the American people understood how complicit the Democrats are in this financial crisis, there would be accountability.
Let me tell you, and there's still time for accountability.
It's called Election Day on November 4th.
There is still time for accountability.
Every one of these Democrats involved in this would be thrown out of office if there were accountability.
The accountability these Democrats are asking for.
A few of these Democrats would be handcuffed and frog marched out of there as well if the accountability were what it should be.
You may have had the opportunity to have oversight over all this, and you punted.
You didn't want any oversight when it was your guys getting rich.
You didn't want any oversight when it was your party getting all the money donations coming out of Fannie Mae and Freddie Mack.
You want oversight?
Fine, you're gonna get it.
We are going to be oversighting you.
From now until election day, everyone on this program and through I'm sure throughout the uh the so-called new media, will be engaging in oversight of the Democrats involved in this mess.
Now, after uh yesterday's program, ladies and gentlemen, as you can understand, I I went to the general email box, the Ill Rushbo at EIBNet.com and the Kooks, lunatics, the insane asylum doors had been left open and they all got out.
They found a computer to email me.
And they said, you know what?
You keep talking about the Obama campaign being simplistic.
You are the essence of simplicity.
All you do is blame Democrats.
You think there's no Republicans involved in this?
You just sit there every everything comes up.
You use a partisan opportunity to bash liberals and bash Democrats.
Of course, they said it with a profanity was laced every other word, personal insults and so forth.
So let me let me address this.
Because we had a caller yesterday who uh I thought made a very good point about this.
This is the first round of public hearings we've had about this whole mess that I can recall.
I mean, we've had the Fed guy up there talking about his, well, we're gonna give 75 billion dollars of liquidity here to, you know, this Wall Street firm or whatever, but I mean in terms of what this is really all, this is the first.
Now I want to tell you guys something.
You've got the Democrat Party, you got people like John Conyers, and you've got Larry Wasserman's daughter, who represents a district close to uh but well, no, she represents Florida, Wexler represents Maryland.
But Debbie Wasserman Schultz, she's down here.
You've got some of these Democrats claiming they're either going to continue to impeach Bush or they're gonna mount war crimes trials.
These Democrats will investigate, they're trying still trying to get Carl Rove behind bars.
So I'm just telling you people, if there was one Republican, just one involved in all this, that they they run the House and Senate now, folks.
They run the committees.
If there was just one Republican that they could point the finger of blame at, throw all this on that Republican shoulders and bury that Republican, kill that Republican, and that Republican's career, it would have started a month ago.
The hearings would have started two weeks ago.
There must not be a Republican around because there is plenty of reason for hearings and investigations.
But I wonder who the hearings and investigations would focus on.
Why, it must be Democrats.
Because if it were Republicans, folks, we have already found a culprit.
The culprit would be in jail or destroyed or what have you.
The Democrats would have already exonerated themselves.
Talk about how this evil Republican working with Jack Abramoff ever come up with anything.
But there must not be a single Republican they can throw this at.
Unless throwing at a single Republican would force that Republican.
So hey, hey, wait a minute.
You know, you uh you guys uh uh I I think it's either that, and it's a pretty good pretty good bet, or else they're all just circling the wagons around themselves.
But I think the Democrats run this show.
It's an election year.
If they had a chance to tie this to McCain or Palin with just party, they would do it, and they're not doing it.
There aren't any hearings.
Tells me, as a standard longtime perceptive observer of what happens in that cesspool swamp of a town.
There must not be anybody but high-ranking Democrats involved in this.
We'll be back.
Hey, I got a major correction to make.
Obama is not up ten in Virginia.
He's up ten in the question of uh who do you trust most to handle the economy?
It's actually 4946.
Uh Obama over McCain margin of error.
It's fascinating, too.
This is uh, I think this is an AP.
Yeah, yeah, it's an ABC Washington Post poll, and it's the headline.
I'm I I goofed up here, folks, but they got me.
The drive-by's got me.
Obama holds 10-point lead over McCain and trust handle the economy.
I saw 10 point lead.
And you don't get the bottom line until the bottom line, you got the actual poll results.
So it was a trick I fell for it that if I fell for it, I'm sure many of you did, because I seldom do.
Drive by trick to make me think everybody else thinking Obama's up ten in Virginia when he's not.
Either way, I was watching some of the hindsight hearings during the commercial break, and Chuck Schumer, a lot of these, a lot of these senators say asking Hank Paulson, said look, why what we have to we have to uh decide on this this week, uh Thursday?
I know the White House wants Thursday or Friday.
I mean, it's already Tuesday, can't we?
Can't we study this a little more and come back and every one of them that asks Paulson as no, no, no, Paulston said.
You gotta do it now.
I mean, we talk in market confidence.
If you don't do this now, it's gonna be a disaster.
And then he said, besides, all my bank buddies of Wall Street muddies buddies will have to leave the Hamptons and move to Yonkers.
If we don't get this done, by the way, Hillary Clinton is the latest to add to the blank check montage.
Senator Clinton said Tuesday she worries that taxpayers could be left holding the bag with plans for a $700 billion.
This is less than her stupid health care plan would cost, and that would have left us holding the bag, the IV bag.
That would have been left the colostomy bag.
We would have all been, I mean, bowels would have been emptied.
She's worried about us holding a bag here, and then and then she said Congress should not give the treasury a blank check to straighten out the problem.
Well, now she had a blank check.
How many people gave her how many millions to run her campaign and she's how much in debt and haven't been able to pay it off and was wowsy running the whole thing, ready to lead on day one.
Hillary has her own mini financial crisis.
They gave her a blank check, and she spent it and is just all done with it.
And now she's coming around.
We need a new FDR type deal to handle it.
We've got 15 FDR type deals.
We got the Great Society, we got Medicare Medicaid, Medicare Part B. We've got OSHA, FOSHA, screw you.
We got all these different acronyms out there.
We have the uh war on poverty, we've got FDR times 30.
And look where it got us.
You know, FDR type program.
What we need are several Ronald Reagan programs that, Ladies and gentlemen, let's um let's go to the audio sound bites.
Here's Chris Dodd, chairman of banking committee opening things up today.
And the gall of these people, he should be answering questions.
He Chris Dodd should be answering questions today, not asking.
He ought to be the first witness in Boone Frank should be right behind him.
Well, besides, I would never be behind Chris Dodd.
What do you think?
Just crazy.
Behind behind Studd.
So they ought to be the first two witnesses out there.
How much question?
How much how much of a sweetheart mortgage did you get from uh countrywide?
Senator Dunn.
And how how much in political contributions did you get from uh from Fannie May?
I mean, those would be my first two questions.
Here's here's what Dodd said in his opening statement.
As I and many members of this committee have argued, for the past 17 months since I became chairman of this committee, the root cause of our economic crisis has been the collapse of our housing market, triggered by what Secretary Paulson himself has called bad lending practices.
This is just what it's tragic and lamentable is that the ensuing calamity was entirely foreseeable and preventable.
Yes.
This was no act of God.
It was not like Oricane Hike.
Ike, rather.
It was created by a combustible combination of private greed and public regulatory neglect.
Private greed and well, you I guess you had some because you got a sweetheart deal from countrywide and the public regulatory neglect.
Folks, do you realize the gall?
And he had to write this, or a staff member did.
How did he sleep last night?
I asked that rhetorically because I I know he's not bothered by it at all.
Ever since 17 months since I became chairman of the committee, the root cause of our economic crisis has been the collapse of the housing market, triggered by what Secretary Paulson himself has called bad lending practices.
And then Chuck U Schumer.
Now, get Chuck Hugh Schumer's take on this.
My colleagues and fellow Americans, we live in amazing and dangerous times.
Who would have thought that the lowly mortgage, long regarded as the safest of investments, could bring our financial system to its knees?
But that is where we are.
Do you realize what he just said?
The mortgage, as an instrument, the lowly mortgage, has brought our financial system to its knees.
A mortgage is an inanimate piece of paper.
You and your buddies brought the financial system to its knees by constructing all these various scenarios with no oversight, despite Obama lying through his teeth, that there was no oversight whatsoever.
It was the free market running wild.
It was the exact opposite.
This is this all started in the Clinton's uh administration.
We chronicled this for a whole first hour yesterday.
And I've had a lot of people telling me, you need to repeat it.
You need to get that.
That needs to air in as many airports as CNN is in.
You know, in the waiting rooms and the bars and the restaurants, I guess you watch CNN in there.
And uh uh but I so I'm not gonna go through the whole thing right here, but this is just to blame the lowly mortgage.
All those mortgages got together, you see.
Those mortgages got together and they started talking to each other.
Those mortgages said, you know what, we don't like the way we're being used by these.
We want to teach these people that constructed us a lesson, and so we're gonna all band together and we're gonna default.
We mortgages are just not gonna pay.
We mortgages where we're gonna make sure that our mortgages that we get lent to people that can't pay back.
We're gonna totally screw up the U.S. financial system.
Now, Hank Paulson wasn't having any of this, and I'm a little surprised.
He could have slapped them down a little harder here, but he still slapped them down.
Here's Hank Paulson.
We have two sound bites of his opening statement.
I've heard your comments on executive compensation.
I share your frustrations.
I feel those frustrations.
Practices throughout America also upset me.
Let me just say that with regard to Freddie and Fanny and AIG, in case you or your constituents don't know.
In those cases, CEOs were replaced.
The government got warrants for 79.9% of the equity.
Golden parachutes were Eliminated, strong action was taken.
I will also say to the comments made about Freddie and Fanny and the bazooka.
You all can be darn glad you gave us the bazooka because we needed it.
Let me tell you something.
The root of that problem was in congressional charters, started many, many years ago.
Now he could have said the Clinton administration, but he's not going to go up there and get partisan, even though we and he's a Democrat, too, by the way.
Hank Paulson, as by the way, as you know, everybody talking about what a free marketplace Wall Street is.
If you go look, I've got the paper today.
If you go look at not just the CEOs, look at the employees of all these firms that you've heard of, from Lehman Brothers to Bear Stearns to AIG, I don't care what it is.
The vast majority of employees and management donate to Obama and Hillary and the Democrats.
It is rich Democrats running Wall Street, rich liberal Democrats, and they are the ones asking for this bailout.
Now, Hank Paulson, he took it to him here.
You know, this whole thing started with congressional charters, started many, many years ago.
Now he could have kept going and really dinged these guys, but he didn't.
And uh frankly, I I I wish that he had.
But uh, some of these guys on the con the Senate committee had started dinging Paulson.
Well, you didn't do enough, and you weren't trying hard enough, and you weren't being honest with us, and they say, Look it.
And they were they were complaining about executive pay, we got to get we got a lower executive pay, we've got to get rid of golden parachutes and say, Look what we did at A at Fannie Mae.
We got a lot of money back from Franklin Ranch, fired a bunch of people, but you still got Daniel Mugg there.
Well, not there, but he left with a huge golden parachute as well.
This was just a big piggy bank for the Democrat Party.
And this is a little side show going on here to make us think they're getting serious about fixing it.
Rush Limbaugh here on the cutting edge, having more fun than a human being should be allowed to have.
There's a great Wall Street Journal column today.
Blame Fannie Mae and Congress for the credit mess.
We were all over this yesterday.
I'm glad to see people picking this up and echoing this now.
It's by Charles Calamiris and Peter Wallison.
Calamiris Professor of Finance and Economics at Columbia Business School.
He's also a scholar at the American Enterprise Institute.
And Peter Wallace, a senior fellow at the AEI, General Counsel, Treasury Department, the Reagan administration.
I'm not going to read you the piece.
I'll just tell you what it shows is that at the front end of all this, the Carter and Clinton administrations were pressuring private banks to give risky community development loans as a greater and greater percentage of the bank's portfolio.
Why?
Because at the other end, Fannie Mae and Freddie Mack were encouraging the banks to issue more and more of these risky loans so that they, Fannie Mae and Freddie Mac, could buy them up and increase their assets.
They're buying bad paper.
They're buying loans that can't be paid back.
The mortgages that were out to screw all of us, according to Chuck Schumer.
But that was they were able to raise their asset level and show Congress how well they were doing, even though they're buying bad paper.
And this is how Franklin Reigns and Jim Johnson, the executives made millions in self-issued bonuses.
And what this shows is that the front end, they were they were they were doing just a number of tricks like this and at the back end all over the place, uh, in order to balloon their assets that were false, and that's how they paid themselves.
By the way, should Chris Dodd, I mean, if we're gonna eliminate golden parachutes for executives that fail in uh on Wall Street and in the credit industry, should Chris Dodd be forced to give up his pension?
Should Barney Frank be forced to give up his pension?
Here is one more Hank Paulson bite.
And you could interpret this uh as him saying, okay, look at you Democrats, just shut up and let's get this done.
If any of you felt that I didn't believe that we needed oversight, I believe we need oversight.
We need oversight, we need protection, we need transparency.
I want it, we all want it.
And we need to do that in a way that lets this system let this program work effectively, quickly, because it needs to work effectively and quickly, and it needs to, and it needs to get the job done.
This is one of those Instances where the Democrats think, sure we have to decide this right now.
I mean, we don't have enough time to get our hands in this and figure out, you know, how much money Maxie Waters should get, and we don't have enough time to figure out how much money Obama ought to get and Acorn ought to get.
You can't force us to accept this deal before we get our hands in there and figure out which of our constituents and support groups are going to get rich with this kind of money.
And Paulson said, Oh, we don't have time for that.
We got to get this done.
We're talking market confidence.
Give us any kind of oversight, transparency, all you want, but we got to get this done.
We got to get this done again because my buddies, if this doesn't get done, they're gonna have to sell our houses in the Hamptons and move to Yonkers.
It's bad out there, boys.
I don't have time to let you get in there and figure out whose skids you want to grease.
I gotta take care of my own.
Now, last night, Chris Dodd was on the news hour with Jim Lara on PBS, the senior correspondent Margaret Warner, interviewed Chris Dodd.
And her question was, do you um you think you're close to some agreement, at least in concept, that limiting CEO compensation should be part of this bill.
If you're investing $700 billion of taxpayer money, what the public would be irate over as if in some of these companies where we're buying this junk, getting it off their books, and that they turn around and end up having contracts that award them, reward them with multimillion dollar uh compensation packages.
I can't begin to describe to you the anger we would receive from people if we didn't try to address that as well.
Well, you know, I I don't think you understand how angry people already are, Senator.
And do you have any idea how much angrier they're going to be once the full scope of this is known and understood?
Can we go back?
I'm not going to play the the bite, but Chuck Schumer, and I want to give you an interpretation of this.
Chuck Schumers, oh, the lowly mortgage.
Who would have ever thought that the lowly mortgage has brought us to the brink of financial ruin?
Now, obviously, the lowly mortgage didn't do this.
People did.
But what does it sound like?
Keep in mind who Chuck Schumer is, liberal Democrat.
You know how you could also interpret that?
You know, this is the problem with people owning things.
This is the problem with people having property.
This who would have ever thought that the great right to private property would have brought us to the brink of financial collapse.
The only way we can fix this is for the government to own everything.
Don't laugh sturdily and don't act like I'm a nut because they already are going to own the mortgage business.
Full-fledged ownership of the mortgage business.
They are I know it's not the mortgage that are problem.
I'm telling you, it's just like the mortgages got together and decided to, because they didn't like the people the way they were bundling the mortgage, and the mortgage said, screw you, I'm gonna ruin your financial system.
Mortgages start to send around emails and text messages to each other.
Of course it's absurd.
It's lunatic.
But the the concept, well, the lowly mortgage, look at home.
What is lowly mortgage?
It's home ownership.
So by what what what what Chuck U. Schumer is saying here?
Oh my God.
Stand up, mortgage, let them see a mortgage.
Oh God.
Oh, God, there aren't any mortgages.
It's worthless dead paper anymore.
Oh, jeez.
I'm telling you, sturdily, I am telling you.
Well, see, that's the point.
That's the point.
You're not hearing me.
And it's your problem because I'm the ACE communicator.
They are setting the stage.
Schumer is setting the stage.
I don't think he's gonna get anywhere with this, but it's an insight into their thinking.
Homeownership is the American who own the American who owns a home.
It's his number one largest asset.
And here's Chuck Schumer saying that's the cause.
People owning property.
What is a mortgage?
A mortgage is simply a tool to say you own the house to get a mortgage interest deduction.
You don't really own it till you pay it off.
Well, you don't.
Whoever you borrows the money from, you borrow the money from, owns it.
Now the federal government owns your house.
If you went through Freddie Mac, Fannie Mae, or what have you.
That's what this is going to.
So Chuck Schumer saying, see, this is we knew this all along.
We knew Karl Marx was right.
We knew that Washington and Adams and Jefferson's guys are all wrong.
We've known it all this time, FDR knew it.
But it took, it took a couple Hundred years, but finally we Democrats have had it demonstrated beyond a shadow of a doubt.
Owning property is what brings financial crisis and our system to the brink.
Now, this may be, ladies and gentlemen, in your minds, a rash interpretation.
Don't doubt me on how the liberal mind works.
You know, they are about control over as much of society as they can get.
That's power.
Will you hear the Saul Olinsky rules?
You hear Obama's uh copying Sol Olinsky.
I was his mentor.
And you said, Well, Solinsky, what is this?
Solinsky rules for radicals.
Very simply, it's how to take a country socialist.
Saul Alinsky was about how to defeat capitalism and capitalists, and how to convince a majority of Americans on their own to go socialist.
That's what Solinsky was about.
Now, I'm not saying that Chuck Schumer is going to propose eliminating homeownership.
Don't misunderstand me.
I'm saying that it's in their mind.
To say something like this.
Here, grab the bite.
Let's just grid it because it's number two.
Play it again.
You know, I'm not going to put words in his mouth.
You listen to this.
This is Schumer this morning, and it's part of his opening statement.
My colleagues and fellow Americans, we live in amazing and dangerous times.
Who would have thought that the lowly mortgage, long regarded as the safest of investments, could bring our financial system to its knees.
But that is where we are.
Now, the mortgage, the lowly mortgage.
Let me if if you're having trouble understanding this, let me give you a comparison.
The mortgage is today's SUV.
They're going to wipe it out.
It kills people, it's destroying the planet.
The SUV single-handedly, bringing about global warning and the low the lowly mortgage, single-handedly.
Well, it was a conspiracy of mortgages, but they got together and they decided to bring the U.S. financial system to its knees.
Now, obviously, if mortgages can't do this on their own, you aren't responsible enough to borrow from the right people.
You're not responsible enough to pay back the loans.
They're shifting the blame here to you, folks.
The blame is totally on them.
They lent money to people.
I had no chance of paying it back.
They didn't even ask people what their income was on some of these loans for mortgages.
And now they're going to do a 180.
See, you just can't handle this.
You can't handle life.
You can't handle these serious responsibilities of taking on debt and paying it back in time.
We're just going to have to own your house.
Again, this is not going to be proposed in any legislation anytime soon.
But remember in 1996, when I told you when I first heard the Sierra Club that first little hint that the SUV was going to be a target, and I told you about it, you remember what you thought.
You thought I'd gone off the deep end.
Even after at that time.
Eight years of unheralded accuracy.
Unbridled accuracy.
You still doubted me.
Don't doubt me on this.
You know that liberals don't like you owning and having control over that much of your life.
And you look at what this financial thing is accomplishing for them.
They're in charge of the mortgage.
They're the ones that broke it.
And now they're telling you you broke it.
The capitalist system broke it.
Capitalism can't be counted on because you are too incompetent to assume the responsibilities of life, and now you have wrecked the financial system.
The lowly mortgage.
They're his buddies.
Quick timeout.
Don't go away.
Hi, welcome back.
Rush Limbaugh, America's only real anchor man, truth detector, doctor of democracy, and want to go back, make one more point here about Chuck Yu Schumer, his opening statement before the banking committee hindsight hearings to say.
My colleagues and fellow Americans, we live in amazing and dangerous times.
Who would have thought that the lowly mortgage, long regarded as the safest Of investments could bring our financial system to its knees.
But that is where we are.
Yeah.
Okay.
So we live in dangerous times, and it's true.
We have Islamo fascists blowing up a Marriott Hotel over in Pakistan.
We've got acts of terrorism.
We've got the Russians who are helping the Iranians building and build an anti-missile system.
We have the Russians sending jets down to uh Venezuela and Hugo Chavez, and we've got the Chinese, the Chicago's doing the same thing.
And Chuck Schumer is afraid of the lowly mortgage.
Chuck Schumer afraid of documents.
Chuck Schumer afraid of something that can in the end be shredded.
But he's not afraid of Islamo fascism.
By the way, Steve Gilbert, Sweetness and Light.com, where the Democrats get their talking points.
You know, they're all on the same page here.
Save Wall Street, or say Main Street, not Wall Street, Main Street not Wall Street, the Communist Party USA put out a statement.
Yesterday morning headlines save Main Street, not Wall Street.
And it has a couple phrases in here that you have heard various Democrats.
It won't be long before Ahmadine's dodge using this.
He's already pretty close to what's the Democrat talking points.
blaming military engagements around the world for our economic problems, and so has Obama.
I needed some laughs today, and I've had it.
You haven't even heard Biden yet.
Wait until the monologue segment of next hour.
Folks.
This is better than any comedy routine you can see in Vegas.
It just doesn't.
I don't think it's going to run as long.
They're going to have to do something here.
It's almost like this is being done on purpose.
Although I don't think it is, because this is why I wanted Biden.
Now, why I want I prayed, I begged, I could jol the different, and they gave us Biden.
And you will hear why laughter and mirth are the order of the day here at the EIB network in the next hour.
Call Congress today, tell them no blank check for Wall Street.
National Board Communist Party USA.
The Democrat Party getting its talking points from the Communist Party USA.
All right, back to the audio sound bites.
Now we're up to um let's see.
You know, I always do this.
Yeah, but I gotta find some.
Oh, here it is.
I gotta find the transcript.
Here this is Mrs. Clinton this morning on the Today Show Today.
So who would qualify to have their mortgage purchased?
If you look at what uh the model is back from the Great Depression, the Treasury ended up making a profit for the country.
That's why I've been proposing this model for months now, because I think we're going to have to do it.
Uh there is no doubt in my mind that we have to stabilize the markets.
There's a consensus about that in Washington.
This is a woman who couldn't stabilize her campaign, folks.
This is a woman who is still in debt, was running up bills and spending money that she didn't have, and it was all given to her.
She spent so much she had to loan herself money from what she and Bill have earned, made whatever in their retirement from the White House.
But that wasn't all.
This is next one as good.
This is uh CNN's American Morning John Roberts says to Mrs. Clinton, now if you if you go back to 1999, the Graham Leech Bliley Act, and a lot of people said started this whole ball rolling.
In the House, 138 Democrats voted for that.
One Democrat Democrat voted for it in the Senate.
Your husband signed it.
Are Democrats Scot free here on this housing business?
The great bulk of the responsibility rests uh with this administration and with the ideology that the Republicans have been promoting since they took over the Congress in 1995.
You know, they never met a regulation that they thought was worth implementing.
Many Democrats voted to take those rules away.
Your husband could have vetoed the bill, even though it might have been overridden.
He could have done it symbolically, instead he chose to sign it.
But there were reasons, there were positive reasons.
What I believe the failure in 99 was that once you removed some of those barriers between banks and investment banks and the kind of business that could be done by banks, that there needed to be a new regulatory framework.
But there was no appetite in the Republican Congress or with a Republican president to take the second step.
This is what they're reduced to.
Just flat out lie.
Blew this out of the water yesterday.
The Republicans, I had this from Gateway Pundit yesterday.
I didn't get around to it twice.
Twelve different times.
This administration has tried to do something about what everybody knew was coming with Fatty May and Freddie Mac.
And the Democrats, including Mrs. Clinton, stood in the way.
Her husband is at the front end of this, along with Jimmy Carter.
And they're trying to slough this off on Bush and the uh supply side economics.
They're lying through their teeth.
They are the culprits here.
They're the ones that need to be testifying.
They're the ones that need to be answering questions today, not asking them.
Be right back.
Folks, when you hear these Joe Biden soundbites coming up in the next hour, you are going to realize that we're going to be discussing another bailout very soon.
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