First and foremost, talking points don't make an arguement.

As everyone knows lending money to people who can't pay it back is an interesting theory as long as you are using other peoples' money, the genius of Obama economics is just staggering.

Could he be the second cousin of “Donnie Darko”?

A show of hands, who hangs out at their local Home Depot?

Biden is a Constitutional Lawyer? If he is, you would assume he actually read the document with respect to the Constitutional authority of the Vice President. A far bigger gaffe than not being able to recite a SCOTUS decision.

Finally, Biden on Biden is self parody at its finest.

Frank being Frank

Harry being Harry

The employment of the classical CDO structure, high quality debt and a 20% first loss exposure. There is a financial twist, in that the Triple A liqudity provider will get a taste of the profit.

It certainly expands the numbers of bidders for the mortgage assets which will be put up for bid and that is a good thing. But I would suggest that the Triple A liquidity be replaced by a Triple A guaranty.

an interesting response to the current financial troubles. They will emphasis a new insurance regime, changes to the tax code and the mark to mkt accounting rules amongst the changes.

As the Speaker of the House, Pelosi had a simple job get the bill passed. Instead she engaged in rhetoric to provide historical cover for Frank and Dodd.

Pelois provides a window of opportunity to review and discuss the following scenario,

I'm not sure why?

What I find interesting in the overall comment is that Obama makes no mention of the PRC. Maybe none of the "three hundred" is aware of the situation and have failed to advise Obama.

[via Instapundit]

As the Congress scrambles to create a "bank recovery" act, the following should be "deal breakers".

1. The repeal of the "Community Reinvestment Act" (the "Act") is the first priority. This Act has more to do with the subprime mess than any other factor. Federal Government mandates on the financial sector have no place in the prudent management of risk, liquidity or the allocation of capital.

The following provides some background.