Right Wing nut Laura Tyson on Maddow show saying the crisis is real

[Kurt_and_Hunter]

Meh. What does she know?

Aside from Bill Clinton and Barack Obama, who has she ever advised?

[SoonerPride]

1. They had these bailout plans on hold for at least 60 days. Isn't that right?

They claimed a "panic" right before the election for political purposes.

Don't you think?

[crazylikafox]

3. UH......... NO

[SoonerPride]

10. "Bush Had Bailout Plans Drawn Up For Months" **link**

http://www.huffingtonpost.com/2008/09/23/white-house-bailout-plan_n_128624.html


Sorry, but this is a manufactured crisis.

The economics of it are real enough, but the urgency is the thing that is manufactured.

And Paulson yelling fire in a crowded theater caused the very real panic in the market. But the crisis to "act now in a week without real deliberation" is a manufactured event.

[Kurt_and_Hunter]

14. Look up "contingency planning" and stop burdening others with your ignorance.

[SoonerPride]

21. I'm very well aware of their machinations for this event, thanks,

If you are heading for an iceberg, do you wait until you're 3 feet from it before you scream?

They knew this meltdown was coming.

This is another LIHOP.

They prefer to run the country in crisis mode.

Oh, the need to dump the mortgage backed investments is very real. No investor on the planet wants it and they are now facing a liquidty crunch of massive proportions.

But the timing of this is not an accident.

It is manufactured.

[Kurt_and_Hunter]

4. No. Economic interventions have to be a surprise

There's a reason the Fed does surprise interest rate moves, for instance. If it's not secret the markets price in the probability of an action over time and leave the measure with no psychological effect. (And psychological effect is a big part of economic interventions.)

The story that Treasury was sitting on this is one of those stories that is false by being literallt true. The pentagon has plans for invading Mexico too. Of course Treasury and the Fed were preparing plans for what they could do if big banks started keeling over. That's contingency planning.

But it doesn't follow that they were planning to propose such a thing more than 48 hours before it was proposed.

Nobody on either side wanted this before the election. It only helps Obama, and I assume he didn't want a dire crisis.

And Ben Bernanke would have done anything to avoid having to propose such a blunt and dramatic intervention.

[renie408]

9. Yeah... a 1.1 trillioin dollar loss in the market is NOTHING. Those drama queens...

[SoonerPride]

11. Paper losses are only realized if you cash out tomorrow. Stay in for another 25 years and call me.

Sorry, but markets go up and go down.

There will be very real pain downstream, that's undoubtedly the case.

This is another Republican Depression coming on.

[woolldog]

16. I owned a lot of shares of Washington Mutual.

When it started to go down I reasoned in much the same way as you: "It's just a paper loss." "I'm in it for the long haul."

Now those shares are worthless. And that paper loss feels real. :(

[WinkyDink]

27. I'd like to. I'm 58.

[MercutioATC]

2. Oh, I believe that the crisis is real. I just don't think it's as immediate as we're being told.

Things ARE seriously f'ed up. Action DOES need to be taken.

That said, we have the time to do it right. We need to craft legislation that addresses the issues. It should be done as quickly as RESPONSIBILITY allows.

[1corona4u]

25. Are you aware that the Asian, and Auatralian markets crashed also

just a while ago? So, even if it's 'not real', it's being felt around the globe.

[abumbyanyothername]

28. World markets tend to follow New York's lead.

What is more important is where New York opens and closes -- and at this point, what is actually more important is where the futures are trading.

[abumbyanyothername]

30. Right now the futures are more or less steady.

So the drop in the Asian markets is just playing catchup to New York.

[panader0]

5. Obama's economic advisor is a "right wing nut"?

Did you forget the sarcasm?

[Kurt_and_Hunter]

7. The sarcasm tag defeats the purpose of sarcasm.

And what if the sarcasm tag is used sarcastically?

Hmmmm....

[donco6]

6. RW Nut? Laura Tyson?

At least check your facts before you post idiotic nonsense.

http://econ4obama.blogspot.com/2008/09/interview-with-obama-economic-adviser.html

[alcibiades_mystery]

8. You'll never convince the ignorant...when their employer can't make payroll

then maybe they'll reconsider. But for most of the anti-bailout DUers, this is "Just Another Bush Lie" and not like, y'know, an objective phenomenon that's going to cost them their jobs or anything.

[SoonerPride]

12. The credit criss has been brewing for months. It's the panic that is man made.

Sorry, but they are pulling your strings.

[Sugarcoated]

13. Well, you have to admit

it is hard to trust the fuckers. Not saying I doubt the seriousness of this, btw, but for some people they've been played a few too many times. I blame the public outcry and the doubt on the serial dishonesty of Bush.

[SoonerPride]

15. Boy who cried wolf anyone?

That's it in a nutshell.

[Sugarcoated]

17. And just because Bush is a scum sucking liar

doesn't necessarily mean this isn't as grave as many experts are saying. It just makes a confusing situation more so.

[SoonerPride]

22. We've been heading for this iceberg for months now.

They only screamed about it now because it was time.

[abumbyanyothername]

29. Check the credit spreads.

They did not manufacture a tripling of the TED spread.

Now . . . as to whether their solution will work or not . . . I claim no, we're going down anyway.

[alcibiades_mystery]

24. Absolutely agree...it's the Little Boy Who Cried Wolf Problem

This time, there really is a wolf.

[That Guy 888]

26. bush's plan isn't the only solution... why pretend it is? n/t

[EffieBlack]

18. RW nut?

Hardly.

[Jennicut]

19. Wasn't Laura Tyson in the Clinton administration? She is not a RW nut!

http://en.wikipedia.org/wiki/Laura_D%27Andrea_Tyson

[SoonerPride]

23. He was being sarcastic

I think he knows her resume

[Faygo Kid]

20. I thought she was effective, and ID'd it as a credit crisis. Which is right.

I don't think we will meltdown before Thursday. But we better get a package - hopefully a better one - passed this week.

[BeyondGeography]

31. Is that a tactic or a strategy?