The Bailout: For or Against
Comments
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mmmm Tomatoes. Whoever said w. Basil and Mozzerella has my heart.
GOOD NEWS FOR NY'ers. BLOOMBERG IS RUNNING FOR A THIRD TERM!!!!
If only we could've convinced him to run for President....
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I LOVE MAYOR MIKE!!!!!
If he were to run for President, just give him one term and he would straighten out this whole mess!!!
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Yes, yes - Anne described the way my dad would prepare a great tomato sandwich. And OMG! add fresh mozzarella and its heavenly indeed.
I grew tomatoes and jalapeno peppers on my patio for the first time this year. Watching them grow was fun although this new gardener learned that next year I need to put them in the ground.
Just harvested my jalapeno peppers and after watching TV all day about the bail out, my head is hurting and Im thinking a festive meal would be to eat some jalapeno poppers tonight and let of some of this steam that is consuming me over the fear of whats gonna happen.
Nicki
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I just read a few minutes ago that Boomberg is running for a third term. I'm really glad. I didn't think I would like him initially but I do, a lot. And I agree, Beth and Jane, that at this particular time in our nation I wish he were running for president. And I think he could win, even as an independent candidate.
Nicki--my husband knew some Mexicans who used to have jalapeno sandwiches for lunch. Just jalapeno peppers on bread with olive oil. My stomach bothers me to think about it!
Shokk--you can do both but have the blt first!
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I was hoping the bailout wouldn't pass as it was. It was to "open" and unsure. We have that already, why pass it along again? I'm a Realtor, and so it would make me happy if things would turn around, but not at the expense for more future disaster. So..we'll see how things go tomorrow.
g
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See you guys, isn't it great how we are now talking tomatoes instead of throwing them? So much better!
AS, by canned tomatoes, I actually mean jarred. I plant about 10 different kinds and then freeze them when they are fresh. Then I thaw them so the skins come off easily, put them in a big pot with fresh basil, garlic, onions, oregano, red pepper, sea salt , and parsley. After they cook down for several hours I put them into jars and "can" them. So we have home made organic marinara all winter. It is so much better than Newman's own. (God rest his soul)
One more thing on tomatoes, then I will shut up about it. I once had a party called the celebration of the last tomato. I asked everyone to bring veggies for a food contest (the ugliest, cutest, smallest, biggest). One of our friends showed up pushing her DH in a wheelchair. He was her entry as the biggest vegetable. Not PC, but we sure had a good laugh!
Nice to see all the gardeners here. What is a Jersey tomato? I have grown dozens of tomatoes and never heard of that one.
Jane, I LOVE the idea of the citizen bailout. They could make it even simpler. No taxes this year! Go out and buy something or pay off something or invest something. Problem solved! And we could add that every pol donates their salaries and THEY do the bailout!
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Linda: This is too eerie. I was just describing to some friends what it was like when I was a kid and had to participate in canning tomato sauce for the winter. Big job, but great taste. And we are both from Illinois. This calls for a meeting of the minds at a great Italian restaurant.
On a serious side, really - watching television all day has scared me. I think if I were on the Poiseidan Adventure I would be one who walked down instead of up. DH is oppostie. I want the quick fix, DH says wait it out.
Nicki
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For those of you who still think the republicans who voted no did so for political reasons, here is what my congresswoman had to say about it. I am very proud of her:
9/29/2008 12:00:00 AM Remarks of U.S. Rep. Judy Biggert on H.R. 3997, the Financial Industry Bailout Bill U.S. Representative Judy Biggert (R-IL-13)
H.R. 3997, the Financial Industry Bailout Bill
As Prepared for Delivery
September 29, 2008Mr. Speaker, I rise today in reluctant opposition to this massive bailout of Wall Street. I understand why many of my colleagues are inclined to support it. The urge to act now and do something - anything - to restore investor confidence is compelling. Our economy faces great risks, and I agree wholeheartedly that the government must intervene in a big way to restore stability. But the plan we are considering today is not what my constituents want, it's not what's best for the average American taxpayer, and it's not what's best for this economy.
As a member of the working group assigned by GOP leader Boehner to explore alternatives to a massive, taxpayer-funded bailout, I was very pleased this weekend when we were able to develop a very realistic, workable alternative option to shore up these mortgage-backed securities. We took a long, hard look at the market, and saw that a government-backed insurance plan could go a long way toward returning market value to many of these assets. It would address the market's aversion to these investments, and it could be entirely funded by risk-based premiums levied on the holders of the assets - not taxpayers. Our premise for this plan was and remains that Wall Street should pay for Wall Street's mistakes.
In addition, we outlined a tax proposal that would have injected billions into the private market, restoring liquidity and credit availability on Main Street America. By temporarily removing the disincentive to repatriate - or bring back to America - profits made by American companies overseas, we could open the floodgates of capital into our marketplace.
These are ideas that can work. And there are other, equally good ideas that we have yet to explore. For example, the former Chair of the FDIC presented us this morning with new options to reform our banking regulations in a way that will have an immediate positive impact on the financial industry. But instead, Democrat leaders have only agreed to attach a watered-down version of the insurance proposal to the same 700 billion dollar bailout that the Administration originally proposed. It creates an insurance purchase option for financial firms, but then offers them the alternative of free taxpayer money. I wonder which they will take?
I'm very pleased that this plan has been improved over the past few days, especially the provisions limiting golden parachutes and allowing the public to share in the profits that may be made. But I'm just not convinced that we have taken the time to really come up with a strategy that truly protects the taxpayers. This plan says that in five years, if we are seeing losses, the President has to submit a plan to Congress to recoup those losses from Wall Street. But how many times have we seen a concerted lobbying effort stop such proposals in their legislative tracks. In 2005, Fannie and Freddie killed a proposal that I supported to increase regulation on those entities. And look where we are today.
Mr. Speaker, we can and should do better. Main Street Americans deserve no less. -
I think that 450,000 is off by a few orders of magnitute. I'm not sure with my chemo brain and all, but to me it looks more like 450.00 which isn't going to do much to change most lives.
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Math is not my strong suit, so I was enjoying my dividend and thinking of balmy days. $450 where I live would cover a month's rental space for our car, which we can't afford anyway. I had to pull out my adding machine, which lacks one zero to get to 85 billion. However, did the math anyway, and got $42.5, so with that other zero, you're right, it would have been $450.00.
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Nicki, I guess you missed the part of our cooking thread where those of us of Italian heritage do not go to Italian resturants, unless coerced under extreme situations. So I will make you a deal. If McCain wins, you can take me to an Italian resturant and I will not complain about the food and if Obama wins I will treat you to homemade pasta and gravy at my house, and you can't brag that he won!
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Linda: Hahahahaha I did miss that part. Laughing because to this day, DH criticizes the fact that I call my tomato sauce gravy.
Nicki
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Political aspect of the bailout, and there is a political aspect:
A report released Monday by the nonpartisan Center for Responsive Politics signals another dimension to the calculus of support on a Wall Street rescue plan: Members who voted for the $700 billion plan received 51 percent more in campaign contributions from the finance, insurance and real estate sector over their congressional careers than those who opposed it.
Since 1989, the finance, insurance, and real estate sector has given more than $2 billion to federal candidates and parties, more than $68 million to House members in this campaign cycle.
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Pelosi flapped her mouth the day before the vote. I heard her. She had to bring up the Bush failed policy. I thought that surely wasn't bipartisan and I'm not rocket science. And the "hurt feeling" comment that came out of Barney's mouth...Yeah, Kerry ran with that one last night. I believe he was on O'Reilly which I know many of you do not watch.
This is very political. Pelosi should absolutely be FIRED from her job as Speaker. And Reid. he's too hysterical. Should I say more?
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Oh, that thread that Anneshirley want's started...What were we going to call it? The Political Junkie's Recipes?
I was looking at some recipes that I haven't fixed. But, they looked pretty good. However, it seems that we would need easy recipes because we are so busy trying to keep up with what's going on in this scary world.
Do we post ONLY healthy recipes? I don't can my tomatoes. Is that unhealthy? I don't even know HOW to can foods! Can one make up a sauce (gravy) and freeze it in one of those plastic bags? We have a food sealer and it works for breads and wet foods. I forgot another thing. I don't have any fresh tomatoes...LOL We planted some in pots on our patio one year and they were delish. Our soil is very sandy. Dh certainly will NOT make a garden, so potted tomatoes is about all I'd get.
Here's one recipe I found (haven't tried it). So, what'cha think. Shoot, then I'd have to cook it. Do I need to eat it before I can post a recipe?
Roman-style Chicken
- Prep Time: 20 min
- Inactive Prep Time: hr min
- Cook Time: 40 min
- Level: Easy
- Serves: 6 servings
4 skinless chicken breast halves, with ribs
2 skinless chicken thighs, with bones
1/2 teaspoon salt, plus 1 teaspoon
1/2 teaspoon freshly ground black pepper, plus 1 teaspoon
1/4 cup olive oil
1 red bell pepper, sliced
1 yellow bell pepper, sliced
3 ounces prosciutto, chopped
2 cloves garlic, chopped
1 (15-ounce) can diced tomatoes
1/2 cup white wine
1 tablespoon fresh thyme leaves
1 teaspoon fresh oregano leaves
1/2 cup chicken stock
2 tablespoons capers
1/4 cup chopped fresh flat-leaf parsley leavesSeason the chicken with 1/2 teaspoon salt and 1/2 teaspoon pepper. In a heavy, large skillet, heat the olive oil over medium heat. When the oil is hot, cook the chicken until browned on both sides. Remove from the pan and set aside.
Keeping the same pan over medium heat, add the peppers and prosciutto and cook until the peppers have browned and the prosciutto is crisp, about 5 minutes. Add the garlic and cook for 1 minute. Add the tomatoes, wine, and herbs. Using a wooden spoon, scrape the browned bits off the bottom of the pan. Return the chicken to the pan, add the stock, and bring the mixture to a boil. Reduce the heat and simmer, covered, until the chicken is cooked through, about 20 to 30 minutes.
If serving immediately, add the capers and the parsley. Stir to combine and serve. If making ahead of time, transfer the chicken and sauce to a storage container, cool, and refrigerate. The next day, reheat the chicken to a simmer over medium heat. Stir in the capers and the parsley and serve.
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Haven't tried this one either.
Sopa Seca: Mexican Noodle Casserole
Cook Time 35 min
Level Easy
Yield 4 servings
Ingredients
- 1/4 cup extra-virgin olive oil, plus extra for pan
- 12 ounces fideos (bundled vermicelli)
- 1 medium onion, chopped
- 3 cloves garlic, minced
- 1 teaspoon ground coriander
- 1 teaspoon dried oregano, preferably Mexican
- 1 teaspoon New Mexican chili powder
- 1 bay leaf
- 1 1/2 cups canned whole tomatoes
- 1 to 2 chipotles en adobo sauce, minced
- 1 1/2 cups chicken
broth, homemade, or low-sodium canned - 1 teaspoon kosher salt
- Freshly ground black pepper
- 2 cups shredded smoked turkey
- 1 cup coarsely grated cheddar cheese (4 ounces)
- Mexican crema, or sour cream thinned with a bit of milk, optional
Directions
Preheat the oven to 375 degrees F.
Brush a 9-inch square baking dish with oil. Heat the extra-virgin olive oil in a large skillet over medium heat. Add the fideos and cook, turning them with tongs, until golden brown on both sides, about 5 minutes. Transfer the bundles and any broken pieces to a plate.
Add the onion to the skillet and cook over medium heat, stirring occasionally, until golden brown, about 8 minutes. Stir in the garlic, coriander, oregano, chili powder, and bay leaf, and cook until fragrant, about 30 seconds. Crush the tomatoes over the pot with your hand and add them to the pot along with their juices. Add the chipotles, increase the heat to high, and cook until thickened, about 2 minutes. Stir in the broth, the toasted fideos, salt, and pepper, to taste. Bring mixture to a boil, reduce heat, and simmer gently, uncovered, breaking up the fideos with a spoon, for about 5 minutes. Stir in the turkey.
Remove the bay leaf. Transfer the mixture to the prepared baking dish, sprinkle the grated cheese over the top, and cover loosely with foil. Bake until the cheese melts and the casserole is hot through and through, about 20 minutes. If desired, serve with some crema drizzled over the top.
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Shirley - those recipes sound good!
AnneShirley - you bet it is political - on both sides. Probably why NO ONE is calling for an investigation into how we got into this mess - they just want to pass anything and FAST! There is no guarantee any of this will work - probably still looking at a recession. It is about that time in the economic cycle - actually past due - recession has been kept at bay artificially with low interest rates. Notice how quiet Greenspan is about all this - he is partly to blame for keeping interest rates low for too long - you can't tinker with the economy and get away with it it seems. I am conflicted sometimes thinking we need it then reading something that says maybe we should just let the market correct itself. Dh reminds me everyday how much we are losing
. He thinks something needs to be done. I am still not sure. Just listened to someone saying that yesterday was not as bad as in 1987 - stock market would have had to drop 2500 points to get the same percentage loss. Just wish someone could tell us the truth. -
Shirley--how about just the recipe thread. The only thought I have is that it should be a tried and true recipe, one you've made more than once and know is failsafe. The easier the better, I think. It would be nice to have such a thread, when one of us is looking for something to try. I usually look on the web, but some times the recipes don't work out as I think they will--also it's great to have the cook right there for questions. And it doesn't have to be a recipe, maybe a cooking idea--new type of pot, tip on browning, all types of things. I'm of Irish descent, so, of course, I know how to cook potatoes, and it always surprises me that new cooks don't know about drying potatoes over the flame before mashing them for example. And I've never see this tip in a cookbook.
Here's my contribution. I have a Williams Sonoma bread machine that I bought maybe ten or more years ago. I go years not using it and then wonder why. I started using it recently and make the French bread every few days. We have a few pieces for breakfast and then I slice and freeze two pieces together, and toast for breakfast or sandwiches. It's so much better than regular store bread and so much cheaper than bakery bread. And incredibly easy to make. Takes me less than five minutes.
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On the bailout. If the pundits were correct, why did the market go back up nearly 500 points? Maybe investors are looking for bargains. Shouldn't it have continued down, based on what everyone was telling us. I do think the suggestion that FDIC accounts be insured to $250,000 is good. Otherwise, people will withdraw funds over $100,000 for safety sake and that can start a run on banks. I believe the Republicans offered this up during the early negotiations, Obama took it up in a speech, and McCain agreed. So it's good to see that people are working together on this.
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Interesting development: the Senate will vote first, on Wednesday night. Some changes to the original plan, mainly from what I read to placate Republicans, including upping FDIC insurance to $250,000 with one year's cap, I think, some business deductions permitted, and something about the mininum tax. It will be interesting to see if the Democrats on the far left that voted yes now vote no. I'd love to work there during one of these events to see how it all works--must be exciting!
I heard today (and was surprised) that it's the House that really controls what happens to a bill and that the Senate is second in importance. I'll have to read some more on that, as I always though it the opposite. I thought this because Senators serve six years, but perhaps it's like the House of Lords and House of Commons in England. There the lords are life members but of almost no account compared to the elected representatives in the Commons. Any real junkies here to explain this about our House being more important than the Senate?
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Looks like the Senate is voting first to force the House to pass the bill. I do not care for the Senate bill. I have already contacted my representative and senators to vote NO. I like the House Republican bill - less on the taxpayer - puts more of the burden on Wall Street where it belongs.
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The only problem with having a recipe thread is that it will be abandoned. Having the opportunity to sling politics keeps bringin' 'em back. Besides, isn't that more like real life, mixing in chit-chat with eating?
Even though I love my white bread tomato sandwiches, I also love my Italian bread, toasted under the broiler, topped after with a mixture of chopped, fresh tomatoes, good olive oil and basil. I forget the Italian name for that all the time. You know what I mean.
Growing up in northern RI, I am a Federal Hill food junkie. Would not think of eating sausage not from Tony's Colonial (old Ital market on the Hill). Same for good mozzarella, parmesan, olives, etc. Once you've had the real thing, nothing compares. I'd rather starve.
And, gravy. Yes, that's what I grew up with, not sauce, for goodness sakes. One of my aunts was married to an Italian from the Hill. Named the same as a famous square there.
And, yes, so many so-called Italian restaurants are really revolting. Have you ever had a decent meatball at one of them? Yuck. Make your own and live a little.
Oh, the bailout. Well, we are waiting. The markets are so schizoid I think I will eventually take all my money out and say to hell with them. I've just about had it.
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Anneshirley, drying potatoes over the flame before mashing them? Expound please, am interested in knowing more about this!
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Anneshirley, that's a great idea about drying the potatoes. Sometimes they are still too soggy even after draining and that only makes for gooey mashies. I will definitely try that one the next time I mash.
Stop me before I mash again.
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Abbadoodles:
A "Caprese" salad is sliced tomato, topped with basil and cheese (preferably smoked mozzarella, which has far more taste than bocconcini). However, my preferred version places the cheese on the tomato and then I drizzle a small amount of pesto over it -- m-m-m-m-good!
Ladies, I've been following this thread and, as a Canadian, I'm so impressed by your engagement in this globally very important economic issue .
Best wishes to you all,
Linda
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From my Irish mother: After the boiled potatoes are ready, always drain the water from the pot and then put the potatoes back on the flame for a short while. Shake the pot around so you're sure the potatoes are dry. Potatoes hold a lot of water (some types more than others) and if you don't dry them, the mashed potatoes will have too much liquid.
Story about that. When living in Italy we were invited to a Thanksgiving dinner party by an Italian friend, with an American boyfriend. The American wanted a Thanksgiving party, and they invited a mix of people, and all their American friends. We all made something. The couples were split up during dinner, husbands and wives at different tables. The friend's sister, Italian, at my table had made the mashed potatoes (first time in her life) and asked me how they were. Of course, I said they were lovely but they were horrible, like a heavy milk/potato soup. The next day my husband and I were talking about dinner and I asked him what he thought of the potatoes. He asked "what potatoes" and when I mentioned the dish it turned out he hadn't tried them. He thought it was bechamel sauce, and told the man in the line next to him, who asked, that it was bechamel. The man proceeded to pour the mashed potatoes over his other food. We had a really good laugh at that one. For sure, she didn't dry her potatoes. Italians, at least in Umbria, never eat mashed potatoes, so I'm sure all the Italians at the party were telling each other the next time they met that that Americans have no clue about food!
Tina, the dish you describe (bread, chopped tomatoes, olive oil) when toasted is crostini and when not toasted, bruschetta (not sure of spelling). Both delicious, and a standard appetizer in Umbria. You're probably right about the recipe thread and it does lighten the political load somewhat when we talk about food in between politics, a bit like a dinner party.
Anneshirley
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Potatoes? Bread? c'mon girls, I need something I can actually eat. These are not on my BC prevention diet. I am totally into the health food trend. So here is how I do pesto(which is very good for you):
again (sorry, but I never do measurements, just trial and error)
in a blender, several cloves of garlic, lots and lots of fresh basil, some sea salt, extra virgin olive oil (if you buy the cheap stuff, you will taste what you paid for), pulverise everything and use over cooked pasta, on sandwiches instead of mayo, tossed with veggies,in soups, whatever
You can add the pine nuts for a more authentic pesto, but I never bother. And grated cheese can be added later too, but I usually just sprinkle it on when serving
Pesto can be put into ice cube trays and frozen for later use. Do not microwave to thaw
So what about fish? I love fish, but I am terrible at cooking it. Any of you ocean girls have advice for us landlubbers?
I was just reading Summer's comment on our thread about the moderator for the VP debates. It will be interesting if a PBS moderator with a book about Obama scheduled to come out on election day, can show any sense of jounalistic integrity and be fair. Will someone please tell me why everyone makes a bigger deal about Palin's lack of experience than Obama's?
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AS, what a great analogy to a dinner party. But weren't we all told never to discuss politics at dinner? Well it does make people more polite, and human.
How about a new title? Politics on your Plate? Opinions and Onions? The Great Debate Diet? (maybe we can market that one and put it in a pink cookbook and make some money). I still like my "Cooking up Trouble". Let's get some new ideas and put it to a vote. We can all vote on election day. You have to come up with a title in order to be registered to vote. No nationality requirements.
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Linda, since you asked, and you know I'm not in love with Obama, and I'm seriously trying to be objective here. In my view, he does have more experience than Palin, the type that counts on a national level. And size (speaking of population) does make a difference. Alaska is a very small state without the urban issues that exist in most states, certainly Illinois, Ohio, Pennsylvania, New York, California, and so many more. The differences between unpopulated rural areas and large urban areas is extreme. I live in the absolute center of Manhattan and in one of the least populated states (Maine). Huge, huge differences between the two. Of course, the candidate has to understand the problems of rural areas but I believe they are easier to understand from a legislative view than urban areas. I know how you feel about Chicago politics, but nonetheless it was a learning ground for Obama as the problems are about the same in most urban areas. Also, and this is very important. Obama's field of study was not only the law but Constitutional law, and that certainly makes a difference in running the federal government. And, don't get angry here, but if you listen to Palin closely, it's very difficult to accept that she has the political knowledge needed to run the federal government. I got the impression that some of the things she's spoken of she had just heard about a few days previously. Her answer on the bailout showed that she didn't have a notion of what it was about and how it came about. Obama can talk so much more easily about problems, solutions, on the domestic and the world stage. I was desperate to see a woman get into national office this year, but not desperate enough for Palin. As I posted on your thread, I think McCain, if he wants to even come close (I don't think he can win under any circumstances) has to change her out. It may be too late, however, if she sits in on the debate with Biden.
I like Gwen Ifill a lot. I do agree it looks suspicious to Republicans that she's the moderator, but my experience in watching her is that she's very measured--she's never been a gotcha journalist like Matthews, Olberman, and that whole bunch over at MS-NBC. And in her own interests (and, of course, Palin's) I hope she'll be fair in her questions. I absolutely know that I am far more knowledgeable (and you too) about national politics than Sarah Palin. It's just something you know as soon as she speaks off the cuff.
Back to cooking. My husband is the cook here and he often makes fish. I think the secret is never, ever overcook. In general, fish has a very short cooking time. And it has to be fresh. There's really not much you can do with fish if it's old. I will try your pesto recipe, particularly since I have some basil I must use before it dies. Great idea to use it instead of mayo. Thanks.
I've never gone to a dinner party where we didn't discuss politics, or if I did it was so boring I've forgotten it. What else in life gets our blood hot like politics and religion. Don't know who came up with that rule, but it's one of the sillier ones. Of course, one has to know the rules to keep the discussion from getting out of hand, and I think the main rule is never condescend to your opponent. And no name calling.
Maybe after the election we can have a general political and cooking thread. I like all your titles, all very original too.
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Just finished listening to Bill Clinton in Florida speaking for Obama. That man is sooo good; he knows exactly how to hit an issue to bring his audience along. His brief bit on the bailout was better than anything I've heard from anyone else, talking far longer. He is probably the quintessential politician of our age. If he stays out there making these types of speech, Obama can't lose. Lucky man that he finally got Clinton to campaign for him. If Gore had done the same, we would be seeing him retiring from the presidency, not Bush.
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