1, the jobs
2 the housing
3 the consumer demand (which of course is driven by 1 and 2)  thats me not Baucus :0)

he talks about the housing bill coming after the stimulus

now this is very interesting, he indicates the crisis is due to overleveaging by banks, consumers America in general, how 40x leverage is too much

yes totally

Jamie Dimon BTW also said two days ago it was the leveraging that created the crisis..

BUT NOTE, the SOOPER DOOPER NEW TARP TWO plan is to LEVERAGE up the FEDERAL RESERVE!!!

They do not learn even the lesson they claim to have just learned they are ignoring as we speak...

take a look at any chart of the Fed Reserve balance sheet, after this new treasury plan as described by Bloomberg piece above, it will be a perpindicular line to the baseline, in fact I wouldnt be surprised if it fell over backward on the chart and made a loop de loop before breaking above the box of the chart..

"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse," Obama wrote in the newspaper piece titled, "The Action Americans Need."

"If you started the day Jesus Christ was born and spent $1 million every day since then, you still wouldn't have spent $1 trillion," said Senate Minority Leader Mitch McConnell (R-Ky.).

to follow up on my post in the thread below, Frank told Team Obama and Treasury NOT to come to Congress for another 2 trillion in TARP, an idea they had been floating in the media reports..yeah there is NO stomach for it

THIS is what I as worried about THIS is why HOUSING should have come FIRST!

So here it is and sadly it likely IMO wont help:

The plan will be "smaller" than originally expected, said the industry source, and centered around government guarantees and insurance of troubled assets, what's called a "ring fence" concept....Under the emerging plan, the government will buy toxic assets below the banks "carrying value," which is basically market value, but not at fire sale levels, the source said.

That approach will likely placate both taxpayer and Congressional concerns about the government over-paying for the assets. But, the source noted, it could "trigger an accounting problem for the banks," presumably because the institutions will have to report a loss on the transactions.....The current plan is expected to be smaller in that it will be paid for out of the remaining money in the original TARP plan, which is about $350 billion. Some of that money, however, will remain earmarked for home foreclosure relief.

Experts estimate there are some $1.5-$2.0 trillion in such bad assets, either of the non-performing or illiquid variety.

Phoenix Mayor Phil Gordon on the radio telling us the longer this goes on without the stimulus the more unsafe we become, we are losing police and fireman....

I call BS, he just came back from meeting with TEAM OBAMA in the capitol, I think it is fraked up to scare the country into supporting your stimulus bill, if it sucks fix it, dont scare us, we are already scared

what happened to FDR and only fearing fear itself...

Now is the time to protect health insurance for the more than 8 million Americans at risk of losing their coverage and to computerize the health-care records of every American within five years, saving billions of dollars and countless lives in the process.

Link

against the Ensign Amend. which allows all ameircans to refi at 4%,

Schumer said then the govt would own 3 trillion in homes, we cant have that, where do we get the money? the dollar will collapse, we cannot add that to our dent, how do we know the loans wont fail..

I CANNOT BELIEVE CHUCK SCHUMER SOLD OUT AMERICAN HOMEOWNERS JUST TO KEEP OUT AN AMEND FROM THE GOP

this sucks I am pixxed

what are we going to say when we want to do it??

Schumer is saying it should not be skewed to refis it whould be new homes only..what??? he is giving away ammo for free to the GOP to use against any HOLC attempt

I am so sad now, this was my hope that they were doing holc next, every word form schumer proves that is wrong

...Harry Reid and Chuck Schumer, after saying they have the votes for the bill:

Frustrated Senate Democratic leaders dispensed with calls for bipartisanship on the stimulus package Thursday, with Senate Majority Leader Harry Reid saying that he won't let anyone "hold the president of the United States hostage."

[snp]

Despite concerns from some centrist Democrats, Reid said his 58-person caucus would be unified in support - and that he could pick up two Republican votes to get to the 60 he'll need.

During the campaign, and on his campaign website, Obama promised:

As president, Obama will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days.

(

Denver, Colo.) January 23, 2009 -- The Denver Art Museum (DAM) gives a nod to the social revolution that celebrated free love, rock music and experimental design in The Psychedelic Experience: Rock Posters from the San Francisco Bay Area, 1965-71.

The exhibition will feature approximately 300 works from the DAM's newly acquired collection of posters promoting dance concerts and other gatherings that have become iconic symbols of 1960s and `70s youth culture. In addition, album covers, underground newspapers and comics, and other material will round out the presentation, accompanied by music, film and activities to evoke the era.

Organized by the
DAM and curated by Darrin Alfred, DAM's AIGA assistant curator of graphic design, the exhibition will be on view March 21 through July 19, 2009.