But, the first bailout passed because
Posted By: Backwards typist on 2009-01-24
In Reply to: Pelosi is in a hurry because....(sm) - Just the big bad
the dems had the majority of votes. Am I right or did I lose my mind? DON"T ANSWER THAT QUESTION, PLEASE. LOL
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Neither will be passed so they can say
whatever they want. Congress is going to be dangled a big carrot by insurance companies and nothing will change. We need a huge change in insurance practices, that would be a great start. Insurance companies are a joke now, not like they were when you actually had some coverage. We need to start doing something about the cost of healthcare - Does a doctor really need to charge me $100 for a 10-minute exam to tell me that I have a sinus infection. I told them that when I went in and just needed a Rx.
I am a bit jaded on this today as I have been dealing with some insurance/doctor crap lately. Regardless, healthcare costs and insurance practices need the overhaul.
Even if it had passed, it would have been...
voluntary. Bush was smart to at least give us the opportunity to take it away from Congress so they would freakin' STOP borrowing it!! I would much rather they coughed up the total I have put in so I could put it in a CD where Congress would keep its grubby paws off it! And incidentally it was courtesy a Dem controlled congress when the decision was first made to raid social security. But they were going to pay it back they said...yeah right. They chuckled into their armpits like Raines, Gorelick, Howard, and Johnson did when they walked away from Fannie Mae. They made out like bandits and WE are on the hook. Are you real proud of them? They did more harm to our economy that Bush ever THOUGHT about doing.
Yak, yak, yak indeed. If we weren't ALL on the hook I would say it served you Dems right.
It Passed 263 to 171 (nm)
x
It already did - they passed it
x
Only 11 more votes and it would have passed. nm
.
SCHIP Passed
11,000 million children will be covered.
The only problem is...they are raising the cigarette tax to $.61 a pack. According to Glenn Beck, we will need 21,000,000 NEW smokers to cover the program. Kinda ironic....use something that is unhealthy to give coverage to keep the kids healthy.
I don't know what they are thinking. I think the government has their heads in the sand. Every time they tie a new program to smokers, more smokers quit. How are they ever going to cover all these children if another couple thousand people quit smoking?
I absolutely think this program will not work like they think and in a couple years, if not next year, they will be raising taxes on everyone because of the shortfall in the planned coverage.
Sheesh! How did these people ever complete college????? They have no sense.
It passed the Senate........... sm
Now it's on to the House-Senate negotioations. I just hope we can stand this as a nation.
http://www.msnbc.msn.com/id/29119293/
Nothing has been passed except the budget. sm
The budget funds Volunteer America, and includes a provision to set up a commission to STUDY whether or not "mandatory volunteerism" should be established. My prediction is that it won't happen.
Budget has NOT been passed yet....sm
http://www.newsday.com/news/local/ny-stbudg0112604697mar31,0,2797230.story
He/she passed first lesson - lie.
NM
It's about to be passed people!!!
Democrats have apparently reached an agreement to move forward with a House vote on the huge cap-and-trade energy tax known as Waxman-Markey this week.
The monstrous bill has already grown from the 946-page version passed by the House Energy and Commerce Committee to an even-heftier 1201-page version released by House Democratic leadership last night.
And they aren't done yet. Negotiations continue between Pelosi and her ally, House Energy and Commerce Committee Chairman Henry Waxman (both D-Calif.) on one side and House Agriculture Committee Chairman Collin Peterson (D-Minn.) on the other.
The apparent breakthrough, which paves the way for a floor vote on Friday or Saturday, is a big giveaway for rural electric co-ops -- a big Peterson priority. Peterson may also extract other big-ticket concessions before a vote happens on the House floor. And why not? What's a few billion dollars between friends when you have a multi-trillion-dollar energy tax hike to divvy up?
That's what's so outrageous about this whole process. Cap-and-trade imposes massive new hidden energy taxes on American consumers. The taxes are hidden in higher prices for gasoline, electricity, and every product in the economy that's grown, shipped, or manufactured. All the revenue, the last estimate from the Congressional Budget Office has the pot at $846 billion over just the first 8 years, so it will clearly be many trillions over the 38-year duration of the program goes into a big pot that politicians can use to buy off opposition and advance other big-government objectives.
Senator Barbara Boxer, the biggest Senate proponent of cap-and-trade and the one who will dole out the billions of dollars on the Senate side if the bill makes it through the House, candidly explained how this works a couple of weeks ago:
There's so much revenue that comes in from a cap-and-trade system that you can really go to a person in a congressional district and get enough votes there by saying, "What do you need? What do you want? You can really help them."
This disastrous bill, which will send energy prices skyrocketing while having no discernible impact on global average temperature will only get worse as even more special interests are bought off at the expense of taxpayers. It's a scam, an enormous tax-and-spend bill concealed in a cloak of green political correctness. The real purpose of the plan is to dramatically enhance the power of Washington politicians by giving them control over vast swaths of the U.S. economy.
Think of this as the death blow for our already teetering rule of law and free market economy. Just as we've seen politicians make arbitrary decisions in banking and the automobile industry, this new central planning of energy will let them exercise similar control over all aspects of the U.S. economy. This type of control, while perhaps well-intentioned, we saw in the 20th century inevitably fails and often leads to despotism.
The outcome in the House is still in doubt. House Blue Dog chairwoman Stephanie Herseth Sandlin (D-S.D.) said in an interview with Energy and Environment Daily last week that Blue Dogs will not vote for the bill if it's brought up this week. She said:
"Many will insist that we have a number of days to review the language ourselves, to have back and forth with our constituencies and stakeholder groups, to understand how the system with a significant manager's amendment will work. Yes, absolutely, we need to chew on this awhile."
Obviously, Nancy Pelosi is ignoring the concerns of the Blue Dogs, and of all the Democrats from Middle America whose constituents will be slammed with vastly higher energy prices under the plan. Constituents who don't share the smug self-satisfaction that coastal elites will enjoy, that warm, green feeling that's supposed to make it all worthwhile.
If these so-called moderate Democrats fall in line behind the radical leadership of Nancy Pelosi and Henry Waxman, if they vote for a cap-and-trade tax that President Obama famously said will cause energy prices to necessarily skyrocket, they will expose themselves as radical leftists and out of touch with their districts.
Every American who cares about affordable energy and economic freedom needs to contact his or her member of Congress before this vote and demand a no vote on cap-and-trade. The House switchboard is 202-225-3121 or you can use this form on the AFP web site. If they vote for this, they deserve the full political consequences.
Exactly...well, they did manage to write and get passed...
one piece of legislation...the "reform" bill that was supposed to straighten out Fannie/Freddie...instead was the straw that broke the camel's back...forced them to offer those floating rate mortgages to low and moderate income people and the creditworthiness of said people was not to be an issue. The floating rates went UP, and a bazillion people went into foreclosure, and if the Bush admin had not stepped in and taken over, the economy could very well have collapsed. The "reform" bill, plus the crooked Dems at the top of Fannie/Freddie, just about did us in this time. Other than that piece of legislation, they have not done a blessed thing in the year they have been in charge. That is why their approval rating is in the tank.
He has already passed these tests. Get real. nm
.
The Dems could've passed this last wk. sm
They had the votes before they started. They hoped to use the Rs to help this disaster, who got shut out at the end of this thanks to Pelosi, who has no control over her caucus, anyway. The drivebys won't report this.
Second, many Dems are scared ** about not getting elected again. Other Dems waited until the very end of voting to cast their vote to play the game to win both ways. Mine, for ex., is all for this mess, but has been saying how he'll vote it down. That's b/c he's got a strong opponent and he can't afford something this risky.
Think of it this way. You have surgery to repair your left leg and the doc cuts off your right one instead. So you go back to the same doc who screwed it up to fix it. That's exactly what you have here. You wouldn't do this in your private life, so why would it be okay for those on The Hill to behave in the same way?
Their Oct. surprise failed (for now).
Just a few more votes on their part would have passed it. nm
.
Kentucky just passed a 6% tax on liquor and
raised tax on cigarettes another 30 cents on a pack.
Another new bill passed today. sm
Link below. Comments about the earmarks in the article.
http://news.yahoo.com/s/ap/20090225/ap_on_go_co/congress_spending
time is passed for placing blame
It is time to stop placing blame and time to start looking for the solutions. The finger pointing is not constructive. No one is going to agree on it and it is not going to change. It is time for constructive efforts NOW.
So...how's "cap & trade" like the House just passed
Here's an eye-opening article:
http://www.aim.org/don-irvine-blog/cap-and-trade-woes-in-europe/
Some states have passed compassionate euthanasia already, Oregon. nm
x
The House just passed the bill??? No wonder the earth was shaking, that was the new crator...sm
 the country is falling into!
States with pending/passed 10th Amendment Sovereignty resolutions. sm
These resolutions are important to prevent the Federal government from usurping State Sovereignty. This is a partial list as other states are jumping on board the last few months. Colorado is one and New Hampshire just failed to get one passed thanks to partisan problems.
To read one of the resolutions, here is a link to one from the state of Arizona:
http://www.azleg.gov/FormatDocument.asp?inDoc=/legtext/49leg/1r/bills/hcr2024p.htm
2009: Arkansas - 9th Amendment, 10th Amendment, Funding Issues
2009: Arizona - 9th Amendment, 10th Amendment
1994: California - 10th Amendment
1995/96: Georgia - 10th Amendment
2009: Georgia - 10th Amendment
2009: Kansas - 10th Amendment
[NEW] 2009: Kentucky - 10th Amendment
1997/98: Louisiana - Sovereignty Constitutional Amendment
2009: Michigan - 10th Amendment
2009: Minnesota - 10th Amendment
2009: Missouri - Freedom of Choice Act (Abortion), 10th Amendment
2009: Montana - 9th Amendment, 10th Amendment, 2nd Amendment
2009: New Hampshire - 9th Amendment, 10th Amendment, Federal Reserve, Taxes, Martial Law, 2nd Amendment, Draft/War, Patriot Act, Labor Camps, 1st Amendment
2008: Oklahoma - 10th Amendment, (Other Legislation: No Child Left Behind, Real ID Act)
2009: Oklahoma - 9th Amendment, 10th Amendment, Funding Issues
2009: South Carolina - 9th Amendment, 10 Amendment, Martial Law and Related, 1st Amendment, 2nd Amendment
2009: Tennessee - 10th Amendment
2009: Texas - 9th Amendment, 10th Amendment, Funding Issues
1995: Utah [Number: HJR003, Session: 1995] - 10th Amendment
2009: Utah - Real ID Act
2009: Washington - 10th Amendment
Bailout
"If the American people ever allow private banks to control the issue of our money, frist by inflation and then by deflation; the banks and corporations that will grow up around them (around the banks) will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered"
-President Thomas Jefferson
here's your bailout
I think that all the CEOs of the big three along with all their members of the board and whatnot, all the big wigs, that have made millions screwing people over for years and years should dip into their OWN pockets and sell a few houses, cancel a few vacations, cash in a few money markets and get their own companies out of debt. Then, when the books are balanced, the people who have been making 80,000 a year to push a button should take a pay cut and NOT go on strike and live like the rest of real America. Then they should be fine.
Bailout
if they fail, do you realize it would affect everyone. Millions of jobs in the auto industry alone. If people don't have jobs, they can't spend money anywhere. Stores will start to close, etc. It will affect everyone.
Bailout
I totally agree 1000% with your analysis - the only time these greedy CEO's give a hoot about us is when they see their profits increase. You can bet your last five cents that if one of us went to them asking for money - they would call the police!! It would be interesting to see the salaries of CEO's in Europe as opposed to what these guys continually fleece us for... 
About That First Bailout
Do you remember who told us "we had to act now or we might face dooms day (sic)" with all that bailout money? It was Hank Paulsen and George Bush. We may as well have flushed that first TARP payment down the toilet. There was no accountability, and no one knows where all that money went.
At least the present stimulus package has accountability built into it and some limits as to what can and can't be done with the money.
the bailout IS making
the US a socialist country - compliments of your beloved GWB and McPalin. congratulations you got your wish.
No Bailout for the rich
Say no to the bailout. The FBI is investigating all of these companies for criminal mortgage fraud.
Why the rush for the bailout
There Is No Crisis--Summary by: Chris BowersTue Sep 23, 2008 at 16:22
Things are getting a little suspicious about this crisis.
1) Why did the Bush administration suddenly declare a crisis during the final two weeks when Congress would be in session during his presidency? Is it maybe because, after the election, Congress would know it wasn't dealing with Bush anymore?
2) If this is such a sudden crisis, why is it that the Bush administration was drawing up the plan for this bill for months beforehand?
3) Why is it that Congress is supposed to bail out many banks and firms that are actually quite successful and profitable right now, and not just those that are failing?
4) Why is Paulson blatantly lying to Congress about oversight?
5) Where did the $700 billion figure come from?
6) Why is Paulson urging that debate on the matter be held after the legislation is passed?The burden of proof should always be placed on those who are demanding a huge government bailout, not upon those who are skeptical that one is needed. And yet the questions keep mounting, with no answers in sight.
I am not saying that there is no need for government intervention. I am saying that the case for a $700 billion bailout is far from having been made. Until the case is made, there is no need to go forward. We will elect a new President in 42 days. We swear in a new Congress in 103 days. What is the rush? Why does this all of a sudden need to be done while the Bush administration is still in charge? The case hasn't been made, and answers are slow in coming, if they come at all. Chris Bowers :: There Is No Crisis--Summary
I don't agree with the bailout
We have some savings, but we still live paycheck-to-paycheck, not wanting to touch the savings. I really don't agree that we taxpayers should have to fund this. I think that the higher ups that walked away with 100s of thousands or even millions should have to pay for this. Charge them with fraud and make them give it back. I certainly don't feel I've put anyone in this situation and therefore don't feel I should have to pay for it.
only 24% of us support the bailout
Yesterday it was reported only 24% of Americans support the bailout, 56% are opposed so 20% have no opinion. Senators' and reps' offices were flooded with calls and emails all day asking that the bailout be opposed. And I was one of those. Everyone should be contacting their own reps to express their opinions. That's they only way they will know what the people want.
Yes, and how about the bailout, ACORN, and
nm
Well.....look at it this way....if they don't push this bailout...
there are folks who know "where the bodies are buried." There is probably so much we DON'T know about all this...and yes, it is disgusting. Dodd and Frank, if they had an ounce of integrity, would apologize to the American people and resign. Pelosi, if SHE had an ounce of integrity, would demand it. So far John McCain is the ONLY one who has said someone should resign, and that was Christopher Cox, the Republican head of the SEC. He SHOULD resign. So should the treasury secretary, Paulson. Every member of that committee that voted back in 2006 to kill the bill McCain co-sponsored should resign. They should all be investigated criminally as well as far as I am concerned. I know the FBI is looking at Fannie/Freddie but talk about a day late and dollar short after Raines, Johnson, Howard, and Gorelick raped the American public for millions.
You're right. They should ALL have to go and start over.
SNL skit on the bailout. sm
Funny but sad because it is true.
http://www.hulu.com/watch/37758/saturday-night-live-c-span-bailout#s-p1-st-i1
TheSmokingGun/bailout
http://www.thesmokinggun.com/archive/years/2008/1007083aig1.html
AIG spa trip, right after gov. bailout approved. This is disgusting.
Not a bailout, entirely voluntary (nm
x
I think we MT's need a bonus and a bailout!
nm
Again, I don't think the problem is the bailout itself, (sm)
but rather the way it's used, which right now leaves a lot to be desired. As far as the rest of the country being screwed, well that's coming either way. We have 2 choices--we can either do nothing, lose millions of jobs and go into a full-blown depression; or we can take a chance with bailing them out (preferably with stipulations) and owe a lot of money. I think my preference would be to pay more taxes if need be, but still have a job so I could feed my family instead of not being able to do either of the above.
Bailout dies in Senate.........sm
It's over, at least for this year. I don't know, and the article did not state, whether there will be more talks after the first of the year.
http://www.reuters.com/article/topNews/idUSTRE4B50CL20081212?feedType=RSS&feedName=topNews
I have some ideas about auto bailout
Let the oil companies bail them out since they directly benefited from some of the bad management decisions.
Don't bail out the companies. Give the money to the workers for re-education, etc., while the auto companies restructure.
My first suggestion was a little cynical, but I'm not sure why the second hasn't occurred to anyone. ...
A little satire about the bailout scam. sm
A sense of humor can help in stressful times.
From The Nation to the nation:
"Dear Lucky American:
I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Yours Faithfully Minister of Treasury Paulson"
Bailout as a Nigerian Request for Help
Ron Paul's comments on the bailout. sm
Dr. No is still working for us in Congress.
Dear Friends:
The financial meltdown the economists of the Austrian School predicted has arrived.
We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market's attempt to re-establish rational pricing of houses and other assets.
Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I'd only be repeating what I've been saying over and over - not just for the past several days, but for years and even decades.
Still, at least a few observations are necessary.
The president assures us that his administration "is working with Congress to address the root cause behind much of the instability in our markets." Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?
We are told that "low interest rates" led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments - investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed.
Not a word about any of that, of course, because Americans might then discover how the great wise men in Washington caused this great debacle. Better to keep scapegoating the mortgage industry or "wildcat capitalism" (as if we actually have a pure free market!).
Speaking about Fannie Mae and Freddie Mac, the president said: "Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk."
Doesn't that prove the foolishness of chartering Fannie and Freddie in the first place? Doesn't that suggest that maybe, just maybe, government may have contributed to this mess? And of course, by bailing out Fannie and Freddie, hasn't the federal government shown that the "many" who "believed they were guaranteed by the federal government" were in fact correct?
Then come the scare tactics. If we don't give dictatorial powers to the Treasury Secretary "the stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet." Left unsaid, naturally, is that with the bailout and all the money and credit that must be produced out of thin air to fund it, the value of your retirement account will drop anyway, because the value of the dollar will suffer a precipitous decline. As for home prices, they are obviously much too high, and supply and demand cannot equilibrate if government insists on propping them up.
It's the same destructive strategy that government tried during the Great Depression: prop up prices at all costs. The Depression went on for over a decade. On the other hand, when liquidation was allowed to occur in the equally devastating downturn of 1921, the economy recovered within less than a year.
The president also tells us that Senators McCain and Obama will join him at the White House today in order to figure out how to get the bipartisan bailout passed. The two senators would do their country much more good if they stayed on the campaign trail debating who the bigger celebrity is, or whatever it is that occupies their attention these days.
F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own:
Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion.
To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression.
The only thing we learn from history, I am afraid, is that we do not learn from history.
The very people who have spent the past several years assuring us that the economy is fundamentally sound, and who themselves foolishly cheered the extension of all these novel kinds of mortgages, are the ones who now claim to be the experts who will restore prosperity! Just how spectacularly wrong, how utterly without a clue, does someone have to be before his expert status is called into question?
Oh, and did you notice that the bailout is now being called a "rescue plan"? I guess "bailout" wasn't sitting too well with the American people.
The very people who with somber faces tell us of their deep concern for the spread of democracy around the world are the ones most insistent on forcing a bill through Congress that the American people overwhelmingly oppose. The very fact that some of you seem to think you're supposed to have a voice in all this actually seems to annoy them.
I continue to urge you to contact your representatives and give them a piece of your mind. I myself am doing everything I can to promote the correct point of view on the crisis. Be sure also to educate yourselves on these subjects - the Campaign for Liberty blog is an excellent place to start. Read the posts, ask questions in the comment section, and learn.
H.G. Wells once said that civilization was in a race between education and catastrophe. Let us learn the truth and spread it as far and wide as our circumstances allow. For the truth is the greatest weapon we have.
In liberty,
Ron Paul
Letter to Congress re the bailout. sm
The bailout has stalled. Please contact your reps and tell them NO to the bailout. Phone calls, emails, and letters are having an impact. People have already lost their homes and jobs. According to experts in economics, this is going to cause inflation to soar and a depression.
Letter below is from someone who is on the verge of losing their home, and gave permission to copy it.
Almost 300 years ago the founders of this country believed in freedom and liberty so much that they risked everything—their property, prosperity, comfort, honor, and even their very lives—on the near impossible gamble of taking on the world’s greatest superpower, at that time, to win the liberty that we enjoy today. That example has inspired Americans through the ages until the present day to reach for greatness despite the presence of risk and uncertainty. Against these dangers the intrepid push forward, knowing the price of failure, yet never succumbing to fear because our system is so robust in its scope that failure can be overcome and the rewards of hard work eventually achieved. In these troubled financial times, we are tempted by fear to shy away from the responsibility that liberty requires and instead hearken to the safety net of socialism. George Washington and his men had no safety net. The price of failure for them was certain death.
More money can always be made, but once we give up our freedom for socialism we can only buy it back with blood and death. CongressPerson, that is too high a price for the rescue of a few banks that should have known better. Let them suffer the consequences of their actions. Let the markets buy up their assets and redistribute them as only a free market can. Bring back sound money and the value backed currency the Constitution requires. Stop the central bankers at the Federal Reserve from ruining our country. There will be some pain, just like there was in the winter at Valley Forge, but in the spring, the economy will thrive again just as did the army that won our freedom.
I call on you now CongressPerson to fight for our freedom. Fight with all your might and strength the way our troopers did at Cowpens. Do not surrender. Do not sell us out. Fight for us and our liberty CongressPerson, as if we were about to lose it…because we are.
RJH
Norman, OK
PS I am a homeowner in distress. I stand to avoid the specter of foreclosure if you pass the bailout…but PLEASE DON’T PASS IT! I would rather lose my house than see America lose her freedom. In time I can buy another house.
The Roundtable is chatting about the bailout.
Newt Gingrich, George Will, Steven Pearlstein, and Robert Reich are "debating".
The terms of the bailout will be posted on line around noon today. I think we all should read it to see what it's all about.
Because the bailout is a corrupt piece of
Most people do not even realize that HALF that money they are stealing from us is going DIRECTLY to foreign investors, i.e., the China
2-step......read up on it. Better yet, I'll send a link... sickens me to no end!!!!!
http://www.carnegieendowment.org/publications/index.cfm?fa=view&id=234
The O also voted for the bailout package. (nm)
x
Where is it documented that the man in charge of the bailout...
is Muslim? He's Indian-American by all I can find out. Would not matter if he was Muslim; however, I can't find anything credible saying that he is.
For those who support the auto bailout........ sm
please answer me this.
If the Big 3 are truly in the dire financial straites they claim to be, surely this did not come on overnight. Surely they did not wake up one morning a couple of weeks ago and say "wow, we have a problem. Let's go get help from Washington." GM has already received help from the government before and it didn't seem to keep them solvent. With that line of thinking, what makes those of you who support the bailout think that they will manage whatever funds (it's up to $34K and possibly growing) they receive wisely and will not allow this to happen again?
Yes, Bush proposed a bailout....
the majority democratic congress rejected HIS and made one of their own...you don't remember all the haggling back and forth? Bush by himself couldn't have done squat. Actually more republicans were against it than democrats and got castigated for stalling the bill that was going to save us all. Then the dems had to add a little pork into it (money for wooden arrows and some such) before it finally passed. However, if Chris Dodd (D) chair of banking and finance committees and Barney Frank (D) in the House had not blocked EVERY attempt by Bush and yes, John McCain, to regulate Fannie and Freddie it would be a moot point, because we would NOT BE in this mess. Whatever else Bush has done, he had NOTHING to do with this economic crisis. That was all Dems, all the time, to make sure every american whether you could afford one or not got into a house.
The bailout isn't going to help-Diana Olick
"The TARP money isn’t going directly to bail out the housing market, and let’s just say a lot of folks are PO’d.
The argument is that a lot of folks don’t qualify, there’s a 3% upfront fee on the FHA insurance, a 1.5 percent fee for the duration of the loan, and a lot of lenders still don’t want to write down principal, as is required by the program.
So then we get to the Hill this morning, and what I can only describe as a skewering of Neel Kashkari, the Treasury’s Interim Assistant Secretary for Financial Stability. Congressman Dennis Kucinich of the Committee on Oversight and Government Reform took Mr. Kashkari to task for changing the rules to the game of Monopoly, TARP edition. In fact, here’s a little montage with Kashkari, Kucinich, Cong. Elijah Cummings (D-MD), and Cong. Darrell Issa (R-CA), just the best bits from the testimony:
Kashkari: The secretary is very passionate about this as well-
Kucinich: Passionate about what?
Kashkari: Helping homeowners, congressman -
Kucinich: wwww- he is? in what country??
Cummings: You're on TV. You’re the man. I don't know how much we're paying you, but you're our employee...
Issa: Y'know, we could go ring around the rosie here, but you are here because Congress feels you played a bait and switch game...
Kashkari: I don’t think it's a good use of taxpayer money to put taxpayer capital into an institution that's going to fail-
Kucinich: Boy y'know, that statement you just made, you will hear about for the rest of your career.
Cummings: Is Kashkari a chump? "
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