Senate Decides to Stay in Session; Congress Can ‘Act Like Grown-Ups’
ABC News’ Z. Byron Wolf Reports: Senators were supposed to be out of session today to accommodate celebration of the Jewish New Year, and while there are no votes scheduled, they made the last-minute decision to stay in session.
The two leaders of the both — Republican Mitch McConnell of Kentucky and Democrat Harry Reid of Nevada — made a bipartisan pledge on the Senate floor to pass legislation to address the financial crisis this week.
Notwithstanding yesterday’s failure in the House, the Republican Leader McConnell said Congress can "act like grown-ups."
"We will get the job done. We will get it done this week. It will reassure the American people that Congress can rise to the occasion, act like grown-ups, if you will," McConnell said.
Senate Majority Leader Reid said he spent a good amount of time on the phone this morning with White House Chief of Staff Josh Bolten and with the Democratic Presidential nominee, who Reid said had spoken on the phone with President Bush. The government is working, he said, to pass legislation (he didn’t say which or how the failed legislation would change).
Reid will meet later this morning with the chief Senate negotiators, Sens. Chris Dodd, Chuck Schumer and Jack Reed.
"The blame game needs to end," Reid said, trying to paint a picture of the financial crisis that would resonate with the public. "Yesterdays drop on Wall Street allowed for a loss of more than a trillion dollars…Most of that money doesn’t come from Wall Street titans, it comes from the pensions of people who work…people who work for a lifetime to save a few dollars."
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USS Gabrielle Giffords Honors Courage
Mitt Romney's Full Speech at CPAC 2012
The House Republicans who stated they could not vote for the Bill because their feelings got hurt over an ill-timed speech should be removed from office. They are there to work on behalf of the American people, not use the pocketbooks of middle-America as a payback for their tender feelings.
Posted by: Enough GOP | September 30, 2008, 11:16 am 11:16 am
Reid will meet later this morning with the chief Senate negotiators, Sens. Chris Dodd, Chuck Schumer and Jack Reed.
“The blame game needs to end,” Reid said, trying to paint a picture of the financial crisis that would resonate with the public.
NO ONE WANTS TO PLAY THE BLAME GAME WHEN ITS THERE FAULT
Posted by: reddog0216 | September 30, 2008, 11:25 am 11:25 am
Remember folks, The Representatives are elected every two years. Senators every six years. Thus Representatives are always campaiging and running for reelection. When you are a Representative and 80 percent of your calls are to no vote for the bail out, what are you gonna do? You will not vote for the bail out. It took my husband an hour to get thru to our congressmans office yesterday.
Posted by: jenny | September 30, 2008, 11:26 am 11:26 am
maybe Nancy can keep her mouth shut if there is another agreement on a bill. Blast the opponents after the vote Nancy NOT before. Even I know that.
Posted by: jenny | September 30, 2008, 11:27 am 11:27 am
$700 billion dollars – half the annual budget. 0.7 trillion dollars.
No, we do NOT need to come up with that kind of money. The government does NOT need to make sure everything is OK. It wouldn’t hurt us at all to learn to deal with life – especially with our own mistakes.
The investors made mistakes – they should lose money. The home buyers got greedy – they should lose money. The companies got greedy – they should lose money. This is all they way it should be and WILL be if the damn government stops trying to stick its nose into every problem that comes up.
Let the market take care of itself. Fire the political hacks. Vote Libertarian.
Posted by: Glad it died | September 30, 2008, 11:30 am 11:30 am
It’s simple. If they want our votes, fix it from the other end. Restructure the mortgages for the homeowners. I’ve heard some good ideas about allowing any losses on these to be recouped when the home is later sold at a higher value. There are also things that can be done with the speculator property loans that will keep the banks from going bankrupt. Finally make a commitment to rewrite the banking laws that have been trashed the last 30 years.
Posted by: rgkntulsa | September 30, 2008, 11:30 am 11:30 am
Like Donald Trump said and he is a very smart man, WHY do we have to buy the failed mortgages? THOSE that have already failed are FAILURES, buying them out is not going to change that! I am SICK and TIRED of OBAMA not TAKING a position and only referring to this in his stump speeches, and again I heard he will ONLY vote PRESENT? WTF? WE will have a President that can not take a stance? Then McCain gets castigated for doing his job as a Senator! HOW DARE these PEOPLE! AND CHRIS DODD and NANCY PELOSI make me wanna hurl! SHE is an utter FOOL! HOW did they EXPECT MCCAIN to MAKE the REPUBLICANS vote like he wanted anymore than OBAMA could make the DEMOCRATS VOTE like him, except he is gonna vote PRESENT! I am sick of the division caused by the Democrats I thought they were the PARTY of UNITY? THIS is a DISGRACE, now I KNOW why BILL CLINTON keeps tooting McCain’s horn!
Posted by: HP Boston | September 30, 2008, 11:31 am 11:31 am
They are goiong to ride this no matter what the public has to say. They leave out little things like this:
House members who supported the bailout yesterday received 54 percent more campaign money from securities and bank interests than those who voted no, according to a study by MAPlight.org, a non-profit that studies campaign finance.
The group looked at donations over the past five years and found that firms who stood to benefit the most from the bailout – banks and securities – gave an average of nearly $232,000 to each representative who voted yes. That’s 54 percent more than those who voted no.
Democrats in the House who voted yes received an average of $212,700 – nearly twice as much as those who voted no.
Republicans who voted yes received an average of $273,000 from the banking industry, 50 percent more than those who voted no.
The money came from investment and commercial banks, S&Ls, commodities and securities brokers, stock exchanges and other pieces of the financial services industry.
Oh, and by the way, the financial services industry has contributed more to Congressional candidates and presidential wannabes than any other sector of the economy, giving more than $2 billion since 1989.
Posted by: FireEmAll | September 30, 2008, 11:32 am 11:32 am
The republican way has always been to protect business.They somehow give businesses equal status to human beings.
The democratic way has always been to help the people. Restructure the homeowner loans and the banks will be fixed too.
Posted by: rgkntulsa | September 30, 2008, 11:33 am 11:33 am
The time for Congress to “act like grownups” was several years ago when Republicans were calling for oversight and restrictions on Freddie Mac and Fannie Mae and people like Barney Frank, Maxine Waters, and most of the Socialist Democrat Party were telling us that people who could not qualify for legitimate loans should, even so, be encouraged to buy homes.
Posted by: Ron | September 30, 2008, 11:37 am 11:37 am
The homeowner borrowers are not at fault. YOU CANNOT GO INTO A BANK AND DEMAND A LOAN AND MAKE THE BANK GIVE YOU MONEY! The bank checks your credit, income, assets, etc. and then decide that you can afford it and give you the loan. the problem is the lenders got greedy for their commissions and made deceptive loans to anybody they could get to sign the papers! Often very unsophistcated people who were duped by the promise that they could fulfill their lifelong dream of owning a home.
Posted by: rgkntulsa | September 30, 2008, 11:40 am 11:40 am
The further down the road to Socialism that we go, the worse off we will all be. America is about freedom and liberty, not equality: If you cannot afford a home, you should not be allowed a loan to buy one. I am not responsible for supporting you and neither is anyone else. Socialism levels down, not up.
Posted by: Ron | September 30, 2008, 11:44 am 11:44 am
I am happy to hear the Senate have their heads on straight. Who can the American people trust? When the President was voted in by the Supreme Court and not the people, I knew we were going to be alot of trouble. And here we are!
Is there anyone out there that is willing to help the hard working people of America, the middle class. We have been forgotten, raped of any savings, retirement we’ve saved for, adding severe stress in our lives and losing our homes daily.
We can’t trust anyone anymore, so please, someone step up and make this country right. Earn the trust back, if it isn’t too late.
Posted by: Marianne | September 30, 2008, 11:46 am 11:46 am
I think Hillary Clinton would never have said – call me if you need me – she would be there! This has been rushed and it’s better to come up with ideas that are better. The first idea, remember, was Paulson saying, just give me the money and all the power of what to do with it and I will take care of it myself – It has only gone up from there. Hint: would look better to the people if every comment from the congress and senators was not a political campaign speech – that is so self serving and the people know not to trust anything said with a campaign spin to it.
Posted by: Teresa | September 30, 2008, 11:51 am 11:51 am
HP Boston: what a mouth you are…
The “present” vote in Illinois is sometimes cast by state lawmakers with a conflict of interest who would rather not weigh in on an issue. Other times, members use the option to object to certain parts of a bill, even though they may agree with its overall purpose.
“The ‘present’ vote is used, especially by more thoughtful legislators, not as a means of avoiding taking a position on an issue, but as a means of signaling concerns about an issue,” said state Rep. John Fritchey.
Obama sponsored 820 bills in the Illinois State legislature. So much so that the Illinois Times featured him in a cover story naming him HEAD OF THE CLASS for his legislative abundance.
Obama is the one coming up with the protection plans of this Bill that by the way belongs to the Republicans, they wrote it, they are the leaders of this. You have a Republican Bill, Republican President, and Republican ran Washington.
Yes, Pelosi should have kept her mouth shut. So should have the Republicans. this is not a game anymore, it is our lives. It is the fault of both parties. All they have to do right now is solve the problems they created in a fair and safe way so we do not get screwed again.
Posted by: beck | September 30, 2008, 11:54 am 11:54 am
These gamblers sailed the ship into the Perfect Economic Storm. now the sailors are in the middle of a mutiny. ………
http://thefiresidepost.com/2008/09/30/the-perfect-economic-storm-with-no-captain-video/
Posted by: Ohg Rea Tone | September 30, 2008, 11:55 am 11:55 am
Let Obama have a trial presidency. So what is he going to do? Nothing as usual?
Posted by: geevill | September 30, 2008, 11:56 am 11:56 am
beck – love your post ;)
Posted by: Paige | September 30, 2008, 12:00 pm 12:00 pm
LIST OF ACORN FRAUDULANT REGISTRATIONS – WOW
THE ANTICS OF ACORN
A listener, William, sent us a compellation of various times when ACORN has resorted to voter fraud, just to get their Messiah, Barack Obama, elected. Here’s a synopsis of some of the different cases against ACORN, just in this election season alone. Are you starting to understand what is going on here, folks? These are not isolated incidents. Now as you read of these incidents remember, please, that during Obama’s days as a community organizer he was deeply involved with ACORN. That ought to set of some alarm bells with the media … ought to, but it won’t.
Washington
July 26, 2007,Seattle Times
Felony charges filed against 7 in state’s biggest case of voter-registration fraud. The defendants, who were paid employees and supervisors of ACORN, the Association of Community Organizations for Reform Now
Michigan
September 14, 2008, Detroit Free Press
Several municipal clerks across the state are reporting fraudulent and duplicate voter registration applications, most of them from a nationwide community activist group working to help low- and moderate-income families.The majority of the problem applications are coming from the group ACORN, Association of Community Organizations for Reform Now …
Florida
Oct. 13, 2007, PRNewswire
A Florida state attorney is investigating thousands of potentially fraudulent voter registrations associated with the leading organizer of Florida’s Amendment 5 ballot initiative. But this is just the tip of an iceberg of illegalities, fraud and contradictions connected to the Association of Community Organizations for Reform Now (ACORN) … Former ACORN Miami-Dade field director Mac Stuart has declared an intent to sue ACORN and has made charges of rampant voter fraud operations. Stuart was employed and specifically tasked by ACORN to generate 103,000 new voter registrations from Dade County. He reports that ACORN threw out Republican registrations while paying for Democratic ones. Stuart also charges that ACORN targeted ex-cons and that he personally set up registration tables outside the Miami police department and Dade County jail.
New Mexico
Sept. 18, 2008, Judicial Watch Blog
This week officials in New Mexico’s most populous county (Bernalillo) notified federal authorities that more than 1,000 fraudulent voter registration cards were submitted to the clerk’s office. ACORN, which pays workers for each registration, is the prime suspect since it has handled thousands of new voter registrations in New Mexico since January. County workers subsequently discovered that at least 1,100 new registrations list Social Security numbers for people already in the county’s database of registered voters, names of registered voters with different birth dates and addresses that don’t exist.
Wisconsin
Aug. 6, 2008, Milwaukee Journal Sentinel
Criminal investigations could be launched against at least six voter registration workers who tried to add dead, imprisoned or imaginary people to the voter rolls, according to the Milwaukee Election Commission and the organization that employed them. “One woman called us to complain because her husband has been dead for 10 years and a voter registration was submitted,” Edman said. In about 12 cases, deputy registrars paid by ACORN were “making people up or registering people that were still in prison,” said Carolyn Castore, ACORN’s state political director. And in other cases, workers used the same address for numerous voters or used driver’s license numbers that did not fit the voters’ birth dates, Edman said. But most of the fraud involved submitting duplicate cards for voters who were already registered, and forging the voters’ signatures, Castore said.
Ohio
August 27, 2008, The Plain Dealer
A national organization that conducts voter registration drives for low-income people has curtailed its push in Cuyahoga County after the Board of Elections accused its workers of submitting fraudulent registration cards. Board employees said ACORN workers often handed in the same name on a number of voter registration cards, but showing that person living at different addresses. Other times, cards had the same name listed, but a different date of birth. Still another sign of possible fraud showed a number of people living at an address that turned out to be a restaurant. ACORN has submitted about 75,000 voter registration cards to the Cuyahoga board this year.
Pennsylvania
Sept. 18, 2008, The Bulletin: Philadelphia’s Family Newspaper
A community organization, with longstanding ties to Barack Obama, has, according to numerous reports, repeatedly run afoul of voter registration laws both locally and nationally. Philadelphia election officials recently accused ACORN, of filing multiple fraudulent voter registrations during the 2008 Pennsylvania primary. The case has been referred to the U.S. Attorney’s office, according to Philadelphia Deputy Election Commissioner Fred Voight. Delaware County election officials have made similar allegations against the group, and criminal indictments are pending. This past July 24, Dauphin County detectives offered a $2,000 reward for information about the whereabouts of Luis R. Torres-Serrano, an ACORN worker, who was accused of submitting more than 100 fraudulent voter registrations.
Nevada
July 7,2008, Las Vegas Review Journal
ACORN, which stands for the Association of Community Organizations for Reform Now, claims to have collected 60,000 new voter registrations in Clark County since February … Lomax said while he supports the goal of getting more people registered to vote, he sees rampant fraud in the 2,000 to 3,000 registrations ACORN turns in every week
Posted by: HP Boston | September 30, 2008, 12:01 pm 12:01 pm
Like Donald Trump said and he is a very smart man, WHY do we have to buy the failed mortgages? THOSE that have already failed are FAILURES, buying them out is not going to change that! I am SICK and TIRED of OBAMA not TAKING a position and only referring to this in his stump speeches, and again I heard he will ONLY vote PRESENT? WTF? WE will have a President that can not take a stance? Then McCain gets castigated for doing his job as a Senator! HOW DARE these PEOPLE! AND CHRIS DODD and NANCY PELOSI make me wanna hurl! SHE is an utter FOOL! HOW did they EXPECT MCCAIN to MAKE the REPUBLICANS vote like he wanted anymore than OBAMA could make the DEMOCRATS VOTE like him, except he is gonna vote PRESENT! I am sick of the division caused by the Democrats I thought they were the PARTY of UNITY? THIS is a DISGRACE, now I KNOW why BILL CLINTON keeps tooting McCain’s horn!
Posted by: HP Boston | September 30, 2008, 12:07 pm 12:07 pm
It’s too bad people on these forums can’t see beyond their own “party line” stances and stop the insults and name-calling.
I don’t agree with everything Sarah Palin says and does (or McCain either, for that matter), and I’m quickly becoming concerned about Barack Obama. I was a Hillary Clinton supporter who endured being called a racist because I refused to support Obama, and I hesitantly backed him after her withdrawal from the race. Never in all that time did I call Obama or any other candidate a name, used his middle name as a weapon or any of that, even when being slammed by his supporters during the primaries. How many of you can say the same?
While Democrats point at Bush and the Republicans and blame everything on them (and Republicans, as well), maybe a look at a fact – the approval ratings of these politicians – is in order. Bush – Approve-30.4%; Disapprove-65.8%; Congress – Approve-17.8%; Disapprove-73.8%. It is clear while Bush’s ratings are in the toilet, Congress’ ratings have already been flushed. That includes the majority Democratic Congress.
ENOUGH of the blame game – from both sides. I am sick of being part of a system that elects self-serving politicians who don’t care about our country or us and who put their party ahead of what’s best for the United States of America. That extends down to the supporters – and this is in both parties, as well – who can’t for one minute stop calling people names, saying candidates are “stupid,” taking their names and putting insulting twists on them (McSame, McInsane, etc.). Can you people really not see how hateful and spiteful you sound? I really wonder how we appear to the international community.
People who act in this way have taken our Constitution and jumped up and down on it – so much for “free speech,” huh? I will say one thing – Obama, from the start, said he was different, that he represented change. I was willing to take that on face value. However, the events of the last several days make me have to ask: Is this the change he was talking about? If so, we are really, really in trouble, and that’s why I’ve become an Independent because I really don’t want to be associated with ANYONE who acts as many of these politicians and many of you bloggers have acted.
Posted by: ENOUGH! | September 30, 2008, 12:08 pm 12:08 pm
THANK YOU SENATE! FINALLY SOMEONE GROWS SOME BALLS!
I’M A FIREMAN AND I DON’T TAKE A BREAK IF THERE’S A HOLIDAY AND I’M CALLED IN FOR AN EMERGENCY!
HP Boston:
Give it up, no one cares. Another Limbaugh bot you are. Keep trying to say ACORN is Obama’s fault because he helped out when he was 23. Keep grabbing at the air!
Posted by: Matt | September 30, 2008, 12:10 pm 12:10 pm
I love how everyone is pointing at the Republicans for not voting for this bill when what I understand is that the Republicans that voted no where told to VOTE NO by the people who put them in office.
I am one of those that sent a NO to my Reperesentative along with a MAJORITY of other Virginians.
You people DO NOT GET IT! It is us that will decide whether this is passed or not. How many of you have contacted your Representative. I Did and I told him, NO!!!!
So, stop blaming and get off your REAR and contact you Rep. and tell him what to do.
Posted by: ajax | September 30, 2008, 12:10 pm 12:10 pm
“Yes, Pelosi should have kept her mouth shut. So should have the Republicans. this is not a game anymore, it is our lives. ”
Yes it is. Pelosi just bought Obama the election without our retirement plans. If you don’t think she didn’t know what the effect of that speech would be, you don’t know enough. That and allowing her own to vote against it to save their seats was a calculated move to push the polls harder in the direction they were trending.
You’re right. It is about our lives. Guess what? She doesn’t care and neither does her candidate.
Up to this point, the antics of the DNC were a betrayal of the party. Now they are beyond that and I am finally mad as hell.
Go McCain/Palin.
Posted by: len | September 30, 2008, 12:11 pm 12:11 pm
BLAME THE FOUR MUSKETERRS:PELOSI, DODD, REID & FRANK:
“WE HAD IT ALL UNDER CONTROL AND DIDNT NEED MCCAIN TO COME PARACHUTING IN HERE AND RUINING IT ALL . . .”
APPARENTLY, THE CLOWNS NEVER HAD ANYTHING UNDER CONTROL..
MCCAIN MAY ACTUALLY HAVE TO PARACHUTE IN AND RESCUE THE RESCUING MUSKETEERS..
WHERE IS THE MESSIAH?
WHERE IS THE MESSIAH?
I FORGOT, HE ALREADY VOTEED “PRESENT”
THE MESSAIH IS WATCHING THE POLLS AND MAKING SPEECHES WHILE THE MESS HE PART CREATED IS SINKING THE NATION..
OBAMA, THIS IS WHAT YOU GET FOR 1 BILLION IN EARMARKS AND COBODING WITH FANNIE MAE ‘N ACORN..
Posted by: TJ, THE CLINTONITE | September 30, 2008, 12:11 pm 12:11 pm
Of course they stayed, there very close to ripping off 750 billion from the American people.They always waite till the middle of the night to use there Imperial powers, like passing the income tax act.
Ex Republican
Posted by: RGeier | September 30, 2008, 12:13 pm 12:13 pm
Anyone going on about Obama is crazy.
This is the fault of George Bush and and the policies of Bush/McCain.
Smell the coffee.
Posted by: shutup | September 30, 2008, 12:17 pm 12:17 pm
Those who say the Representatives who voted “no” are more concerned about getting re-elected are missing the point. The reason any politician is elected should be to represent the views of their community, district or state. Voting the way your constituents want you to vote may aid your re-election, but that’s the way it’s SUPPOSED to work — why would we vote for someone who wasn’t representing our views? And the “views” coming into Congress from the voters are 100 to 1 AGAINST the bailout. If they are going to ignore our views and do what their leadership wants, then they are the leardership’s flunkies, not OUR representatives.
Posted by: representative democracy works | September 30, 2008, 12:18 pm 12:18 pm
You’d be crazy to vote for McCain.
It would show a real like of respect for this country and yourself.
Why do you think we are in this situation?
Stop being so emotional and be realistic people.
Posted by: crazy | September 30, 2008, 12:19 pm 12:19 pm
However, the events of the last several days make me have to ask: Is this the change he was talking about? If so, we are really, really in trouble, and that’s why I’ve become an Independent because I really don’t want to be associated with ANYONE who acts as many of these politicians and many of you bloggers have acted.
Posted by: ENOUGH! | Sep 30, 2008 12:08:02 PM
_____________________________—
What took you so long????
In my house OBUMA is referred to as SLICK RICK aka THE POVERTY PIMP!
FROM THE GET GO! ONLY HAVE TO CALL ME AND BILL CLINTON A RACIST ONCE!
Immune to that attack now, been used so much it means nothing, I may even get a pin to wear AND a bumper sticker!
Posted by: HP Boston | September 30, 2008, 12:21 pm 12:21 pm
McCain better say enough, and let the bailout die on the Senate floor, and tell his fellow Republicans to let it die in the House. The $700 billion could be better used (FDR Plan). Let Obama and the Dems explain why they let Fannie and Freddie run when the Republicans asked for control. Economists world wide say its a bad idea, but Congress isn’t listening. The public isn’t listening..and last week they floated through 600 billion in corporate welfare to the auto industry, so the Dems can tell the unions they have done something…but in a year the jobs will be moving to Mexico and overseas…
Ride out the recession..stop the easy credit…roll up the sleeves and rebuild america…McCain/Palin 08
Posted by: nelson | September 30, 2008, 12:21 pm 12:21 pm
The thing I find funny is, if ALL the Democrats had of voted yes, this bill would have passed without those Republicans.
Did Nancy tell a certain percentage of Democrats to vote “NO”???
Evidently, Democrats are not too sure this Bailout will work either, if they did, they would have passed it.
Posted by: ajax | September 30, 2008, 12:23 pm 12:23 pm
We vote for these people to protect us and do what is right for us, not the big CEOs and not Washington. We the people of the United States. They should be looking into our best interest and if that was to vote on this bill so we do not go down then they should have been in there voting for it. Bunch of losers who are only worried about their own a**. like I said before, most have millions, why should they care.
Posted by: beck | September 30, 2008, 12:23 pm 12:23 pm
ajax: you are right, no one knows for sure if this will work. But it was a Republican Bill, given to them by a Republican President, Republican ran Washington. the dems agreed to pass the bill if it was a 50/50 bill. It was agreed. The Republicans dropped the ball. Probably thinking they would make the Dems look bad and people would start looking towards McCain as a leader. What a joke… what a f***** joke… The Republicans need to back the bill they created and the Dems need to back the bill they revised to protect the people. They all need to get their heads out of the a** and start figuring this crap out. We may have already lost our window, because once they pass a bill it takes more then a day to get it moving and signed. What did I hear, like 2 to 3 weeks.
Posted by: beck | September 30, 2008, 12:28 pm 12:28 pm
So the Senate stays in session while the House goes on vacation until Thursday in the middle of crisis? Where is the outrage? If this is truly a dire crisis (as described by Bush, and as evidenced by McCain’s rushing back to Washington) then the House should be debating options until they come up with a solution. What was done yesterday was ludicrous. Vote no on the only option available on then go on holiday for two days. Dump these losers.
Posted by: indy_voter | September 30, 2008, 12:29 pm 12:29 pm
For those who say let the bill drop. Let wall street and main street pay for this. You are very foolish people who have no idea what is at stake here. We are talking about a world wide great depression. I don’t know about you but I am not willing to risk it. While all those rich CEO’s and Washington politicians live on easy street we will be standing in soup lines and sleeping under bridges. Go find out what will happen to main street before you vote against this bill.
Posted by: beck | September 30, 2008, 12:33 pm 12:33 pm
indy voter: I just read that the house is coming back to get this bill worked out. No one will be on vacation.
Posted by: beck | September 30, 2008, 12:34 pm 12:34 pm
WHERE’S HILLARY??????????????
WE NEED HER VOICE NOW……..
THIS IS REALLY DISGUSTING. THE LITTLE PEOPLE WHO’VE MANAGED TO SAVE IN THEIR 401K’S ARE GETTING HAMMERED. THE MULT-MILLIONAIRES ARE LAUGHING ALL THE WAY TO THEIR SEVERAL HOMES.
DON’T YOU GET IT AMERICA??? WE GET HURT BY THIS, NOT THEM. THEY NEVER GET HURT.
WE NEED HILLARY NOW MORE THAN EVER.
OBAMA SHOULD WIN B/C HE CAN FIX THE ECONOMY??? HOW? BY RAISING TAXES???? AND GIVING AWAY TRILLIONS TO SCHOOLS AND CHURCHES????
GAME OVER. THE GOVERNMENT NEEDS TO CLEAN UP ITS ACT, STOP SPENDING, AND LOWER TAXES. ENOUGH ALREADY.
LET’S KICK OUT ALL OF THE IVY LEAGUE CROWD IN WASHINGTON. THEY DON’T DESERVE TO REPRESENT US.
DODD, PELOSI AND REID WANT OBAMA TO WIN THAT’S WHY THEY ARE PLAYING THIS POLITICAL GAME AT OUR EXPENSE.
Posted by: nobama | September 30, 2008, 12:34 pm 12:34 pm
Add the ability for bankruptcy judges to review and adjust first mortgages so that ordinary Americans stand a better chance of staying in their homes.
Put some real teeth in the caps on pay and bonuses so that Americans don’t see this money as patching in the holes on executive’s golden parachutes.
Make the continuation of payments on this plan require an affirmative vote of Congress after each review, rather than having them continue by default, so we only pay if the plan proves to be effective and continues to be needed.
Place realistic limits on the power this bill affords the Treasury Secretary, providing for both review and revision.
Posted by: linda n carolina | September 30, 2008, 12:35 pm 12:35 pm
Californians, please vote Nancy out this November. We do not need a selfish, arrogant and inept speaker in the House. What she did, I am sure she did it to discredit McCain and help Obama, all at the expense of the country. Otherwise, how come 94 Democrats –her own party were allowed to vote No. In other words, if they really wanted to approve the bill, they did not need the Republicans. How ashamed I am of the party (the Democrats) I supported for more than 30 years. pumarosa
Posted by: pumarosa | September 30, 2008, 12:38 pm 12:38 pm
Addition to 12:35 post; Screw the Republicans …….let’s own this bill now and put in it what we want and pass it ourselves. Let the Republicans stew in their own mess.
Posted by: linda n carolina | September 30, 2008, 12:38 pm 12:38 pm
There is no definition for middle class America. The term is used over and over with deception by both the Democrats and the Republications like they know what they are talking about.
References: Who Is Middle Class?
http://www.pbs.org/now/politics/middleclassoverview.html
http://www.wksu.org/news/features/familyseries/middleclass_transcript.html
http://www.msnbc.msn.com/id/21272238
After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.
http://www.votenader.org/about/
No Way To Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.
Posted by: Judge | September 30, 2008, 12:40 pm 12:40 pm
beck
I am not sure where you get that it is a “Republican ran Washington”??
To be honest with you, I don’t care if who the CRAP started the bill. I think that the Bill will work and if the Bill works, it will be short-term only! Period!
I called my DEMOCRATIC Congressman (Scott (VA)) and told him to vote NO! HE VOTED NO!
Posted by: ajax | September 30, 2008, 12:45 pm 12:45 pm
Correction:
“I think the bill “WILL NOT” work.
Sorry, got excited. :)
Posted by: ajax | September 30, 2008, 12:46 pm 12:46 pm
I don’t know about you but my 401K and
life’s work are going down the drain. Middle class people can’t afford these games right now. Stop the nonsense and pass this bill before millions of more people are hurt in this debacle.
Posted by: Brenda | September 30, 2008, 12:50 pm 12:50 pm
For those that don’t want this bill to go through, what do you want to see happen.
Posted by: annie | September 30, 2008, 12:50 pm 12:50 pm
pumarosa: What has been said is the truth, McCain and the Republicans will look you straight in the eyes and lie to you. How can anyone trust them. We all know the truth on this bill, but they still look you straight in the eye and out and out lie. I am not so sure that what Nancy said was sooo wrong. McCain and the Republicans need to take all credit for this bill because McCain lied about from the start. They are trying to save him thru us. The problem with this is that all the news media have Obama on tape making these decisions, coming up with the protection plan of this bill for the people. McCain yesterday looked a news person in the eye and out and out lied about it and the news person just looked at him and said no that is not true because I was the one who interviewed Obama 2 weeks ago on this. What is wrong with these people. they are telling these lies and the regular news stations only show sound bites of them so most americans who do not watch cable news are only hearing McCain saved the day. I am so tired of explaining to them “he lied” “there is proof”. McCain today finally said he agrees with Obama’s plan, it is a good plan…. Finally!!!
Posted by: beck | September 30, 2008, 12:51 pm 12:51 pm
Found this while on a blog.
I received this in my email today and this would be the best way to initiate economic recovery country wide. I wish I would have thought of it.
I’m against the $85,000,000,000.00 bailout of AIG.
Instead, I’m in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.
To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman and child.
So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free.
So let’s assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it’ll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent’s medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.
If we’re going to re-distribute wealth let’s really do it…instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by one of our candidates for President.
If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!
As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here’s my rationale. We deserve it and AIG doesn’t.
Sure it’s a crazy idea that can “never work.”
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do, the geniuses at AIG, or in Washington DC.
And remember, The Birk plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.
Ahhh…I feel so much better getting that off my chest.
Best regards,
Birk
T. J. Birkenmeier, A Creative Guy & Citizen of the Republic
PS: Feel free to pass this along to your pals as it’s either good for a laugh or a tear or a very sobering thought
on how to best use $85 Billion!!”
Posted by: Bishop | September 30, 2008, 12:52 pm 12:52 pm
A vote for McCain is a vote to a depression. He has no ideas, no vision, no clue. He just wants to be president. Thats not what we need. We need a leader. That is who Barack Obama is and will be as our president.
Posted by: maureen | September 30, 2008, 12:52 pm 12:52 pm
the bill does need work, but that was built in to the bill that was set for the vote. This was pure politics so the GOP can say they were pressured into voting for it com re-election time. For those whining about Obama through this, he did exactly what he should have done, let the speaker and the whip handle it. He is not a member of congress and has no clout there, candidate or not. He made the general call for compromise and it was heard. McCain did exactly what those naysayers wanted Obama to do and all he did was break things down. He brought the politics into it. It was not his job to get it through the house.
Posted by: Danny | September 30, 2008, 12:54 pm 12:54 pm
Why didn’t the dems just push it and get it done
Posted by: Bishop | September 30, 2008, 12:57 pm 12:57 pm
bishop, I appreciate your enthusiasm, but your math is way off, it isn’t $425,000 per person, it would be $425.00.
Posted by: Danny | September 30, 2008, 12:59 pm 12:59 pm
I am not a Democrat, but it is obvious that Bill and Hillary Clinton would prefer to stay away from the deceptions the Obama camp is spreading like the manure it is. Bill Clinton is a great statesman. I am sure he felt he was helping American’s fill their dream of home ownership. However, the American taxpayer abused the credit market and no one checked the credit market for misuse. Some people had a great time with other people’s money and now everyone must pay the price.
I own land and I own stocks of many companies. I suffered only a loss of a few dollars to date. I live within my financial means, use bankcards and not credit cards. Only idiots want to pay the high interest rates for the use of a credit card. I was not born rich and no one died and left me a fortune. I am just a person that has never abuse the use of credit with hopes I could pay it back some time later.
After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.
http://www.votenader.org/about/
No Way To Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.
Posted by: Judge | September 30, 2008, 1:01 pm 1:01 pm
This is funny.
If you are Republican, you blame the Democrats, if you are Democrat, you blame the Republicans.
Democrats DON’T LIKE BUSH, but yet they want to pass a PLAN that BUSH put forward and yet, the same Dems that don’t like BUSH blame the Republicans for not helping to pass it.
Hmm, so what are you telling us, you do like BUSH? You do like his proposal? You think that all of a sudden he has come up with something that will work??
LOL… get real. I still say NO and EVIDENTLY quite a few more AMERICANS are Saying the Same! You want a YES vote.. get on the phone tell your Congressman. ARE WE PEOPLE saying “NO” the only ones calling?
Posted by: ajax | September 30, 2008, 1:05 pm 1:05 pm
Judge, I am a democrat nd it si obvious to me that Bill and Hilliary Clinton have a serious case of sour grapes. They expected a walk in the park and they ended up in a contest. The Clinton name has lost a lot of clout. HRC will now spend the next 8 years building a powerbase, not to be President to but to be the next Ted Kennedy.
Posted by: Danny | September 30, 2008, 1:05 pm 1:05 pm
Here is a site where you can sign a petition to Say no to Sarah Palin. The goal is 50,000 signatures. So far they have 20,847.
http://www.thepetitionsite.com/1/NO-Sarah-Palin
Posted by: Not Buying What John's Selling | September 30, 2008, 1:14 pm 1:14 pm
You are so right Danny. I don’t want to hear how much Bill or Hillary Clinton cares about the American people. If they did, they would do everything they could to prevent McCain/Palin from getting to the White House. Instead he spends his time saying what a great man McCain is and throwing bones to Obama.
Posted by: Sally | September 30, 2008, 1:18 pm 1:18 pm
Danny…….
The only thing sour the Clinton’s have is Obama’s background and his police tactics in Missouri. Our investigation has revealed a person that is not qualified to be the president of the United States of America. We think of Joe Biden as a back door president and Obama as the puppet of the Democratic Party.
After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.
http://www.votenader.org/about/
No Way To Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.
Posted by: Judge | September 30, 2008, 1:21 pm 1:21 pm
ajax: nice try.. not working!
Posted by: beck | September 30, 2008, 1:22 pm 1:22 pm
In John McCain, we see the character and leadership of a President. He went back to Washington, did his best to bring the parties together on the bail out, got behind Republicans to vote for the bailout. What happened is that Pelosi started spouting hatred toward the GOP and they refuted their support. Now, we have this idiot, Obama, trying to capitalize on the failure of the bailout for political gains. Obama needs to go back to Chicago…AMERICA DOES NOT WANT OBAMA, THE IDIOT!
Posted by: Obama=Pelosi=Losers | September 30, 2008, 1:22 pm 1:22 pm
BLAME THE FOUR MUSKETERRS:PELOSI, DODD, REID & FRANK:
“WE HAD IT ALL UNDER CONTROL AND DIDNT NEED MCCAIN TO COME PARACHUTING IN HERE AND RUINING IT ALL . . .”
APPARENTLY, THE CLOWNS NEVER HAD ANYTHING UNDER CONTROL..
MCCAIN MAY ACTUALLY HAVE TO PARACHUTE IN AND RESCUE THE RESCUING MUSKETEERS..
WHERE IS THE MESSIAH?
WHERE IS THE MESSIAH?
I FORGOT, HE ALREADY VOTEED “PRESENT”
THE MESSAIH IS WATCHING THE POLLS AND MAKING SPEECHES WHILE THE MESS HE PART CREATED IS SINKING THE NATION..
OBAMA, THIS IS WHAT YOU GET FOR 1 BILLION IN EARMARKS AND COBODING WITH FANNIE MAE ‘N ACORN..
Posted by: TJ, THE CLINTONITE | Sep 30, 2008 12:11:42 PM
good post!
Posted by: Obama=Pelosi=Losers | September 30, 2008, 1:24 pm 1:24 pm
In John McCain, we see the character and leadership of a President. He went back to Washington, did his best to bring the parties together on the bail out, got behind Republicans to vote for the bailout. What happened is that Pelosi started spouting hatred toward the GOP and they refuted their support. Now, we have this idiot, Obama, trying to capitalize on the failure of the bailout for political gains. Obama needs to go back to Chicago…AMERICA DOES NOT WANT OBAMA, THE IDIOT!
Posted by: Obama=Pelosi=Losers | September 30, 2008, 1:27 pm 1:27 pm
I’m furiuos at these House members. A week ago, Eric Cantor was on television claiming the bailout was unnecessary.
Cantor was criticizing the media and everyone for suggesting things would get bad. Cantor said just look at the market. Well, the market tanked.
What was Cantor’s response when the market tanked, he blamed Pelosi. I feel sorry for every small business and worker in Cantor’s district. He’s turned his back on them.
Posted by: Dan | September 30, 2008, 1:27 pm 1:27 pm
Sally…
You are saying you do not want the American Constitution and the Bill Of Rights. You are saying you like Obama’s police tactics in Missouri. You are saying you want America’s sons killed for OIL. Obama said he would go into Pakistani territory. Those are his words about the Middle East.
After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.
http://www.votenader.org/about/
No Way to Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.
Posted by: Judge | September 30, 2008, 1:29 pm 1:29 pm
are you kidding me? the republicans did not vote for this bill because the democrats hurt their felling. these people are morons, i do hope you people on the right wakes up soon before its too late.these morons on the right needs to be voted out , all of them, they are puishing the country because they are hurt by what they house speaker said, you got to be fing joking
Posted by: ray | September 30, 2008, 1:31 pm 1:31 pm
wake up you morons on the right
Posted by: ray | September 30, 2008, 1:32 pm 1:32 pm
The Democrats and Obama are
responsible for this economic mess.
Read this article and learn:
Frank’s fingerprints are all over the financial fiasco
By Jeff Jacoby
Globe Columnist / September 28, 2008
Email| Print| Single Page| Yahoo! Buzz| ShareThisText size – + ‘THE PRIVATE SECTOR got us into this mess. The government has to get us out of it.”
That’s Barney Frank’s story, and he’s sticking to it. As the Massachusetts Democrat has explained it in recent days, the current financial crisis is the spawn of the free market run amok, with the political class guilty only of failing to rein the capitalists in. The Wall Street meltdown was caused by “bad decisions that were made by people in the private sector,” Frank said; the country is in dire straits today “thanks to a conservative philosophy that says the market knows best.” And that philosophy goes “back to Ronald Reagan, when at his inauguration he said, ‘Government is not the answer to our problems; government is the problem.’ ”
In fact, that isn’t what Reagan said. His actual words were: “In this present crisis, government is not the solution to our problem; government is the problem.” Were he president today, he would be saying much the same thing.
Because while the mortgage crisis convulsing Wall Street has its share of private-sector culprits — many of whom have been learning lately just how pitiless the private sector’s discipline can be — they weren’t the ones who “got us into this mess.” Barney Frank’s talking points notwithstanding, mortgage lenders didn’t wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so – or else.
The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and “redlining” because urban blacks were being denied mortgages at a higher rate than suburban whites.
The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to “meet the credit needs” of “low-income, minority, and distressed neighborhoods.” Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this “subprime” lending by authorizing ever more “flexible” criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.
All this was justified as a means of increasing homeownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank of Boston advised mortgage lenders to disregard financial common sense. “Lack of credit history should not be seen as a negative factor,” the Fed’s guidelines instructed. Lenders were directed to accept welfare payments and unemployment benefits as “valid income sources” to qualify for a mortgage. Failure to comply could mean a lawsuit.
As long as housing prices kept rising, the illusion that all this was good public policy could be sustained. But it didn’t take a financial whiz to recognize that a day of reckoning would come. “What does it mean when Boston banks start making many more loans to minorities?” I asked in this space in 1995. “Most likely, that they are knowingly approving risky loans in order to get the feds and the activists off their backs . . . When the coming wave of foreclosures rolls through the inner city, which of today’s self-congratulating bankers, politicians, and regulators plans to take the credit?”
Frank doesn’t. But his fingerprints are all over this fiasco. Time and time again, Frank insisted that Fannie Mae and Freddie Mac were in good shape. Five years ago, for example, when the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that “these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis.” When the White House warned of “systemic risk for our financial system” unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.
Now that the bubble has burst and the “systemic risk” is apparent to all, Frank blithely declares: “The private sector got us into this mess.” Well, give the congressman points for gall. Wall Street and private lenders have plenty to answer for, but it was Washington and the political class that derailed this train. If Frank is looking for a culprit to blame, he can find one suspect in the nearest mirror.
Jeff Jacoby can be reached at jacoby@globe.com.
© Copyright 2008 Globe Newspaper Company.
Posted by: reaganfan | September 30, 2008, 1:34 pm 1:34 pm
Funny, the polls say different. Ever notice when someone doesn’t have a good defense they start calling names.
McCain tried a game changer because of his slipping numbers and it backfired. Simple at that. He wasn’t trying to help anyone but himself. He does not care what he has to say or do to get elected. I have spent hours comparing McCain, Obama and Biden’s voting records. McCain is a fake.
Instead of calling names, how about doing some research. There are a multitude of sites which reference the candidates voting records, interest groups opinions, stands on the issues. Quite revealing. It shows over about 10 years that McCain is not a friend of veterans, seniors or the environment. He has adapted an image for the election which absolutely does not jive with his record.
The Disabled American Veterans have given McCain a 20% approval compared to Obama and Biden’s 75-80% approval rating. It is by year and this was the more current year.
On Senior and Social Security Issues the Alliance for Retired Americans gave Obama and Biden 100% and 0% (yes zero) to McCain.
Obama/Biden 2008
Posted by: Sally | September 30, 2008, 1:36 pm 1:36 pm
I’m wondering if whatever “compromise” comes out of the House will even be a bailout at all. I’m sure both sides will simply stick their pet issues in and hope that voters like it. I see huge government programs and massive tax cuts being the almighty “compromise.”
http://www.political-buzz.com/
Posted by: matt | September 30, 2008, 1:43 pm 1:43 pm
Sally..
You must read the post by reaganfan.
Obama is one of the Democrats that caused this financial mess.
After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.
http://www.votenader.org/about/
No Way to Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.
Posted by: Judge | September 30, 2008, 1:45 pm 1:45 pm
Hey Judge,
For your email to make sense I would have to agree with you about the way you characterize Senator Obama. Please go check your facts. McCain was for going across Pakistan’s borders until he heard Obama saying it and took the opportunity to attack him on it, thinking we are all so stupid we have forgotten his original stand. He does that a lot. Good luck on your efforts. I have to go to work now.
Make some sense.
Nader is not on the radar.
Obama/Biden 2008
Posted by: Sally | September 30, 2008, 1:45 pm 1:45 pm
Sally
This is the problem noone wants to take the time to research we want to listen to nuts like rush limbaugh sean hannity that will say anything twist lie and make up things to help mcccain but what those nuts dont realize they are gonna destroy this country because of their mentality!
Posted by: angie | September 30, 2008, 1:46 pm 1:46 pm
Fact is:
If the Market closes out in the Positive today. There will be NO bill passed. There will be NO urgency to get it done.
Last Change
Dow 10,720.12 +354.67
NASDAQ 2,062.84 +79.11
S&P 1,153.37 +46.95
Posted by: ajax | September 30, 2008, 1:50 pm 1:50 pm
Most of the Dems and Obama supporters FAILED to examine to ROOT cause of the financial CRISIS.
Yes. Republicans are in the OFFICE. The PROBLEMS were NOT started with the REPUBLICANS. It began with CARTER Adm.
The wonderful thing called Community Reinvestment Act or CRA. This act along with the ACORN began its campaign to advocate that everyone SHOULD own home even though they CAN NOT afford it.
This led to the “relax” of the STANDARDS that every RESPONSIBLE American follow except those that PUSHED by ACORN and CRA activists.
The AMOUNT of RISKY loans that were APPROVED to these people who have no means of paying BACK is Astronomical.
Republican SOUNDED the alarms in 2004 and John McCain SOUNDED the ALARMS in 2005 fell to DEAF ears. It’s DISCRIMINATION.
So, in 2006 with DEMOCRATICS CONTROL Congress and Sen. Dodd and Rep. Frank who are in charge of the Banking Committees FAILED to realize to SEVERITY of the issue. Rep. FRANK issued the following Statement:
“The more people, in my judgment, exaggerate a threat of safety and soundness (of Freddie Mac and Fannie Mae), the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disastrous scenarios. And even if there were a problem, the Federal Government doesn’t bail them out. But the more pressure there is there, then the less I think we see in terms of affordable housing.”
So, the Republicans were NOT able to do ANYTHING without being BLOCKED by Rep. FRANK and Sen. Dodd.
How Obama connected to this you may ask?
Well, Obama came in later but he is in the tank for Fannie Mae and Freddie Mac with the their second LARGEST contribution below Dodd.
Now, Obama is reaping the results of the FAILURE and ran with it. Obama has NO IDEA on the bill or HOW to get it resolved. Call me if you need me! WOW
Very IMPRESSIVE!
I faulted BOTH Dems and Reps for NOT Standing up for WHAT is RIGHT.
I KNOW there are many GOOD Democrats that really CARE for its people.
Obama is FOR OBAMA/himself as he told the Berlin Audience (NOT American audienc) that he is the CITIZEN of the WORLD.
For the BAIL out, I am FOR it because it needs to help people like me whose retirement is tied in some corporate’s investment.
I am NOT for CORPORATE bailout. They can bailout themselves.
Obama keeps goes over the SAME message.
“This is the FINAL verdict…”
“Let me be CLEAR…”
Just show me some of your ACTIONS would be GOOD.
Posted by: Voter In America | September 30, 2008, 1:51 pm 1:51 pm
KEEP CALLING they are gonna try to pass this behind your back just like the patriot act. Thank those who voted against it, and tell those who voted to put your family on the hook for $6,000 a family to bail out Wall St. that you WILL vote there butts out!
Posted by: hmn | September 30, 2008, 1:57 pm 1:57 pm
rgkntulsa…Have you seen this?
http://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm
Posted by: carolyn | September 30, 2008, 2:14 pm 2:14 pm
So, you know, we’re getting stampeded here to vote for something that doesn’t help homeowners, that doesn’t do anything about foreclosures, that doesn’t help those people who have been in bankruptcy and are looking for a way out. As a matter of fact, it made sure they can’t get out. So, who’s this for? It’s for speculators. It’s to play a game that provides some temporary help in the market, and, you know, you might see an uptick today if this passes the House. On the other hand, if it doesn’t, we need to be ready to find a way for Wall Street to address its problems without having to tap the increasingly diminishing resources of the federal taxpayers.
Full Transcript
Though there is bi-partisan support for a bailout, who are we actually trying to help.
John McCain calls for more oversight and wishes for a plan to allow homeowners to stay in there homes, but it was Hillary Clinton that put forth proposals that may have actually had a chance at easing the financial crisis on Wall Street and Main Street.
In response, Senator Clinton outlined a series of proposals to address the crisis:
Create a new entity to buy up and quarantine toxic mortgage securities that are dragging down the markets which would allow the markets to stabilize. Last spring Senator Clinton was among the first to call for a new entity modeled after the successful Depression-era Home Owners’ Loan Corporation (HOLC) or the Resolution Trust Corporation (RTC) created after the Savings and Loan crisis.
Place a temporary moratorium on the most abusive stock transactions, many of which involve the “short-selling” of stocks. Yesterday, Senator Clinton wrote to the Securities and Exchange Commission urging such a moratorium, saying it would provide breathing room for the markets to recover, for investors to make accurate assessments of companies and for regulators to assess what trading practices should be permanently banned.
Convene an emergency economic summit to show the American people their government is working together. Bringing together leaders in the administration and Congress with lenders, consumer advocates, non profits, financial institutions, and all stakeholders will allow a coordinated response to the crisis.
Aggressively pursue and encourage mortgage modifications. Senator Clinton has introduced legislation to remove barriers to mortgage modification and to encourage lenders to voluntarily work with borrowers to keep them current on payments and in their homes.
Restore competent federal oversight of the increasingly complicated financial markets. The rapid evolution of the securities and banking industry overwhelmed the current regulatory framework, resulting in a “shadow banking system” that operates outside of oversight and without accountability.
Require transparency and accountability on executive pay. Senator Clinton has proposed the Corporate Executive Compensation Accountability and Transparency Act to impose new transparency rules on executive pay, end the accounting techniques that hide compensation, and provide shareholders a say in executive compensation packages.
Ensure the accountability of financial institutions borrowing money from the Federal Reserve’s new lending facilities. Taxpayers deserve to know that the companies they are bailing out are on the road to recovery and aren’t throwing more good money after bad.
Posted by: HP Boston | September 30, 2008, 2:36 pm 2:36 pm
Posted by: carolyn | Sep 30, 2008 2:14:27 PM GREAT POST EVERYONE SHOULD CHECK OUT THE LINK
Posted by: reddog0216 | September 30, 2008, 2:37 pm 2:37 pm
Hi Angie,
Sadly, I think you are right. Hannity really is that dumb and Rush Limbaugh is just greedy. He makes a lot of money selling us that line of crap.
I for one am glad I took the time to do a little research. I thought I would find things I didn’t like about McCain and I did, but a lot of what I found out about Obama and Biden was reassuring. Not everything they have done is perfect, but they both have a record of trying to help people. Not just the rich.
Check out this site.
The Interest Groups opinions are especially interesting.
http://www.votesmart.org/index.htm
Posted by: Sally | September 30, 2008, 2:45 pm 2:45 pm
Carolyn please. Again we hear from someone who believe everything they want to, but verifies nothing. STANLEY KURTZ has a conservative agenda and promotes it any way he can, even by making stuff up. There are lots of articles reviewing his work as such.
The Chicago Tribune concluded that: “Kurtz really had nothing new to add to the insinuations and innuendo in the guilt-by-association portion of the campaign against Obama in which he’s actively engaged.
Posted by: Sally | September 30, 2008, 2:59 pm 2:59 pm
Barney was to close to Fanny, literally
Posted by: bombem | September 30, 2008, 3:37 pm 3:37 pm
Why be adult when you can be an adulterer? That’s why they got into this not to work for the people.
Posted by: Rodger Lemonde | September 30, 2008, 4:33 pm 4:33 pm
Sally, you are a total idiot like the rest of the Obamamania crowd. Hey deaf and dumb one, he made $4000,000 as a “community organizer” and took the most from fannie may. So lets quickly shove aside the “non perfect things” you found out about him and move on to attacking Republicans you hypocritical cool aid drinking moron. Grow the hell up’ how old are you,16?
Posted by: bombem | September 30, 2008, 5:19 pm 5:19 pm
Rodger Lemonde: You are apparantly an intelligent individual or so it appears. I just can’t figure out where you stand on the issues?
Posted by: bombem | September 30, 2008, 6:26 pm 6:26 pm
Hey bombem,
Your type always resorts to name calling when you have nothing else, but debunked Republican talking points to fall back on and a little correction to your information he was a “Community Organizer” for three years and made $12,000 a year and car expenses. Check your facts. And there is no such thing as $4000,000. Could you be trying to say $4,000,000. Who’s the idiot? Nice talking to you. LOL
Posted by: Sally | September 30, 2008, 6:27 pm 6:27 pm
HEY GLAD IT DIED!!!!!!! YOU ARE AN IGNORAMOUS !!!!!!!!! NOT EVERYONE IN THIS SITUATION CAUSED IT ON THEIR OWN!!!! MY MOTHER WAS WORKING WHEN SHE GOT THE MORTGAGE YOU TURD!!!!!!!!! SHE IS NOW ON DISABILITY(THAT’S D-I-S-A-B-I-L-I-T-Y YOU LOSER IGNORAMOUS)!!!!!!! GET A FREAKING CLUE!!!!! IT’S KINDA HARD YOU KNOW WHEN YOU END UP ON PERMANENT(THAT IS P-E-R-M-A-N-E-N-T) DISABILITY AND IT TAKES SO LONG TO GET IT AND THEN YOU’RE NOT GETTING ENOUGH MONEY AS IT IS TO PAY ANYTHING REALLY!!!!! AND YES WE WERE ALREADY AT POVERTY LEVEL WHEN SHE WAS WORKING, AND WE WERE DOING JUST F-I-N-E MAKING MORTGAGE PAYMENTS AND EVERYTHING ELSE!!!!!!! YOU REPUBLICANS TICK ME OFF TO NO END!!!! OH YEA, AND YOU WILL NEVER KNOW WHAT IT IS LIKE CLEARLY LIVING IN POVERTY ALL YOUR LIFE!!!!!! LOSER REPUBLICANS!!!!! YOU ALL CARE ABOUT NO ONE(THAT IS NOBODY)OTHER THAN YOURSELVES!!!
Posted by: Obama Supporter | September 30, 2008, 6:57 pm 6:57 pm
Hey Sally you dumb ass, you fell for my ploy!! You are correct, he did recieve $4,000,000. Thanks for verifying the amount. And to answer your question, you’re the idiot. Now Miss dumb ass, tell me where he got the $4,000,000? I’M WAITING!! And it was nice talking to you, but I don’t need any luck. Thanks anyway.
Posted by: bombem | September 30, 2008, 7:00 pm 7:00 pm
obama supporter: Not enough hand out’s?
Posted by: bombem | September 30, 2008, 7:12 pm 7:12 pm
Come on Sally it’s getting late. I can’t wait much longer, I have to get home to watch Fox News. Where did he get the $4,000,000???
Posted by: bombem | September 30, 2008, 7:15 pm 7:15 pm
obama Supporter: Listen, why don’t you ask Hussien if you could move into his brothers big mud hut in Africa some where, at least untill you all get on your feet?
Posted by: bombem | September 30, 2008, 7:25 pm 7:25 pm
That’s it, good night every one. And pleasant dreams Sally. :)
Posted by: bombem | September 30, 2008, 7:29 pm 7:29 pm
They are gonna try to pass this again. CALL YOUR REPS AND SENATORS NOW!!! Can you afford to pay for three and soon to be four major wars (Iran), and a trillion dollar bailout to people who already STOLE from YOU and your family? I sure hope not, and if you can, can I have some of your cash since you obviously don’t mind???
Posted by: hmn | September 30, 2008, 7:37 pm 7:37 pm
Hello Obama Supporter,
You’re right, but don’t let this “bomben” bother you. He just gets stupider as the day wears on and the insults increase in direct proportion to the the misinformation he throw out there. I have been laughing all day. It’s really sad actually. We’ll see who’s laughing when Obama wins in November.
Obama/Biden 2008
Posted by: Sally | September 30, 2008, 8:46 pm 8:46 pm
Any time Bush and Frank agree on something then it is time to run and run fast.
Posted by: okie | September 30, 2008, 9:22 pm 9:22 pm
Sally: Put down the six pack please. Sally all I asked you was one simple question, remember the $4,000,000? You should read the post by hmn, it’s a good one. Listen Sally, for some reason I enjoy posting with you and I wish you no ill will. I am not happy with Bush and his lousy decisions nor am I in love with McCain. But I am deathly afraid of Obama and his crew gaining power. The fear of that Muslim sympathiser is what drives me. He said if the political winds should change in the world he could favor the Muslims. That is very dangerous for you and me. And come Nov I will neither laugh nor cry but I will be very vigilante. GOD bless and be safe.
Posted by: bombem | September 30, 2008, 9:51 pm 9:51 pm
okie, LOL!
Posted by: Harold D | September 30, 2008, 11:03 pm 11:03 pm
bombem,
You have your point of view and I have mind and I don’t take this stuff personally, but I would rather have a discussion than a name calling session. It’s boring. You expressed some real concerns about things that have come up about Obama being a Radical Muslim or supporting them or whatever.
factcheck.org addresses all of these rumors.
I couldn’t get the links to upload, so got to factcheck.org and do a search under muslim. I found four rumors that have been debunked.
Obama took $6,000, not 4 million, from Fannie Mae. You can go to opensecrets.org and see the list.
Check out the Wall Street Journal and the New York Times articles. It’s harder to find a elected official in Washington that hasn’t taken money from Fannie Mae then one who has, but up until this August McCain’s campaign manager has been being paid $15,000 a month by Fannie Mae. Politics are a bit shady on all fronts.
Good Night
Posted by: Sally | October 1, 2008, 2:29 am 2:29 am
Sally: . You are correct when you make the point about Politics being shady but I would use a more explicit adjective, “CORRUPT” Anyway I fear his associations and lack of experience on the World stage, and with me it all comes down to that 3:00 AM phone call. You have a great day and take care.
Posted by: bombem | October 1, 2008, 8:22 am 8:22 am