I was trying to write the previous comment quickly while simultaneously listening to the show, as evidenced by the number of typos.  So let me try to clarify what I meant in that section. 

"People like Cenk" is meant to refer to people who have a cursory knowledge of financial markets, and the current situation; believe me, although I have a masters in Economics I'm not far removed.  At the beginning of the show today Cenk was railing against this bailout, saying Wall Street was getting off easy, taxpayers were getting screwed, and Bernanke and Paulson were just trying to scare Democratic leaders into accepting this legislation.  I don't think Cenk actually believes this.  I think if he were actually a US Senator or a political strategist for Obama he'd be advising that we implement this bailout hoping to avoid the Great Depression II, and at the same time making sure that strong regulatory legislation is passed as well. 

I think this move by the Fed is brilliant, and they are probably saving us right now from a collapse similar to the collapses that lead to the Great Depression.  Their alternative course of action seems to have been bailing out individual institutions one by one as they go under in the coming weeks.

My point about Obama is that it doesn't matter that he lost the audience in the room, or the one on TV.  It doesn't matter that he lost me.  You're right that they don't care specifically about the substance.  What the audience understands is that Obama can talk well about this stuff, and he seems to have a plan. Everyone, even low information voters, can understand that. 

One of the best interviews from the Democratic convention was Cenk's conversation will Bill Burton, Obama's communications director.  Cenk was making his point about the "politics of strength"--about not caving on issues like off-shore drilling because of the message it sends to voters.  Burton disagreed.  He believes that voters need to see the kind of president Obama will be. 

I think this is the philosophy we are saw from the Obama camp in that speech.   The speech Cenk was mocking was Obama showing the country the kind of president he will be.  The speech Cenk was mocking was the kind of speech I pray to see in the future with a real presidential seal on a podium in front of the man that, to me, symbolizes a greater America. 

And as Cenk admitted, the campaign still seems to be playing hardball with McCain (calling him "panicked").  ; Not every speech has to be a hard-hitting and partisan. 

by publius on 09/20/2008 04:09:41 AM EST

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Someone made an interesting comment at Democratic Underground regarding the bailout:

"Think about it. We are basically in the same mess as we were in 1931. And for much the same reasons: Corporate Greed.

So we are about to elect Obama who has the potential to be our generations FDR.

And if there's anything we need right now it's another New Deal

But this time the crooks turned the tables on us pre-emptively.

They come up with this bailout to:

This time instead of bailing out the people with WPA and other public works programs and restructuring and regulations to prevent the abuses again.

If we do this bailout there will be no money left for Obama's promises.

No Money for Green Jobs and the like.

This time we spend even more money BAILING OUT THE CROOKS!

And putting us in hock to them for generations.

They are heading our New New Deal off at the pass".

by Tom Hanc on 09/20/2008 11:47:06 AM EST

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We're talking about letting hundreds, maybe thousands of institutions fail.  We're talking about millions, maybe hundreds of millions, of Americans losing their savings.  We're talking about people lining up outside banks trying to get their money out, but there is no money.  We're talking about nobody getting a new mortgage or a car loan for years even for the few who could afford such luxuries and houses and cars.  GDP falling by 30 percent, Unemployment rising to 25 percent. 

That's not the situation we want Obama to preside over.  Obama wouldn't be FDR.  Bush would be Coolidge, and Obama would be Hoover.  It's not good for anybody to let our financial system crumble; that's why we can't let it fail. 

We don't need a depression to get progressive policies implemented.  We are on the crusp of doing that right now.  What will help us more than anything is a healthy economy.  

by publius on 09/20/2008 01:02:02 PM EST

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right now.

Watch the Kevin Phillips interview with Bill Moyers that was posted in the forum, it's very sobering and fair.

by Tom Hanc on 09/20/2008 01:15:11 PM EST

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Publius, there is a huge difference between the kinds of speeches I want to see Obama giving when he is president and the kinds of speeches I want to see him giving now.

If he had given that same exact speech as president, I would have had a completely different reaction. There is validity to the point that he has done a good job of appearing "presidential" through this crisis. And he did a great job of calling McCain "panicked." That's perfect. But overall, the person who best captures the outrage of the average guy over this, I think will come out way ahead. That is not what a president necessarily does but that is what a candidate should do.

I have a lot more to say abou this on Monday, of course. But I found this discussion on here very informative.

By the way, I posted this on Daily Kos, Huffington Post and here. And this was by far the smartest conversation about it.

by Cenk on 09/20/2008 09:07:37 PM EST

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