A Second Order of ‘Crap Sandwiches’?

Boehner is almost done. If he falls, the party falls with him, including the McCain campaign.

McCain Urges Bush To Spend $1 Trillion On Bailout — Without Congressional Approval
I’m not making this up. John McCain today urged the Bush Administration — on more than one occasion — to immediately and uniliterally spend $1 trillion buying up home mortgages.
I was watching live when he made the proposal this morning, and it seemed like such a staggeringly insane idea that I assumed he couldn’t be serious. He couldn’t think that Bush should just spend $1 trillion without asking Congress for permission…could he?
But then I saw his economic adviser try to back the idea up, and then I saw McCain make the proposal again during the NBC Nightly newscast. So he’s serious. He really thinks that Bush should just spend $1 trillion without talking to Congress, without seeking approval, without building any sort of consensus — without getting any protections whatsoever for taxpayers.
YOU PEOPLE WHO ARE VOTING FOR THIS MAN ARE AS INSANE AS HE IS…..

How about a 3rd crap sandwich? The House Republicans have an alternative that includes: a) tax breaks for companies who have sent jobs overseas b) a clause which allows corporations to go back 5 years and claim losses and redo their taxes c) a capital gains cut and d) a change to corporate accounting requirements (back to pre-Enron accounting) which allows them to inflate their value. This is supposed to clean up Wall Street? This is a bill that was written by corporate lobbyists and leads us into more of the same. And your Republican reepresentative is calling it an alternative. An alternative for who? Burson Marsteller? I’m not making this up. Call your representative and get a copy of the plan.

It still remains a “crap sandwich” and Boehner is only speaking for the overwhelming number of average citizens (both democrat and republican) who view this as a major boondoggle that they didn’t create but are expected to bail out.
When average Joe or Jane screw up, they get fired, they go broke. When government fails, they are not held to account.

Thank you Rex…. I am a breast cancer survivor who needs this health care plan to pass. I can not get medical insurance with anyone for 5 years. I also have heard that in Canada and London people love their government ran health system… No complaints. I have family who visited both and in London my niece actually need to be hospitalized and said the care was wonderful, and no, so far, she has not been charged a dime.

The Senate had better vote NO on this fraud:
“Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen.” – Brad Sherman , D-California.
The Bill says:
(9) TROUBLED ASSETS.—The term ‘‘troubled assets’’ means—
(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;
and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.
Note carefully – there is no “Made in the USA” requirement, and nothing prohibits a non-US institution from “selling” a security to a US bank, which then immediately resells it to the TARP. Nor is there any provision to prevent Secretary Paulson from defining any other financial asset as “promoting financial market stability”, and while he must notify Congress, they cannot block his purchase.”

Beck:
I hope you continue on towards a full recovery.
It’s hard for me to understand how, at the seeming ‘drop of a hat’ there’s almost a trillion dollars available for business bailout and financing, but,… when it comes to citizens basic needs, like health care, there is never any money for these ‘socialistic’ services.
Sometimes it seems to me the the ‘conservatives’ and republicans want to inflict as much pain and suffering on the maximum amount of people as possible.

“WHY NO ONE IS INVESTIGATING TO WHAT CANDIDATE ARE THESE WALL STREET ECONOMIC TYCOONS WHO ARE MAKING MILLIONS OUT OF US, GIVING MONEY TO?
I SAY MOST OF THEM ARE REPUBLICANS”

Obama and the liberal democrats are just evil!! Be carefull you might just get what you wish for….

Nothing but Economic Terrorism….by the way did anyone look at the date
09-29-08
0+9 = 9
2+9 = 11 9/11/8
0+8 = 8
=

Let’s get this straight. Another $700,000,000,000.00. Tax breaks. More back up for deposits…..!!!!!!!
Where is the friggin response to TOO MUCH spending and TOO MUCH credit. This is ludicrous. There are a bunch of trained monkeys in Washington doing a jig for their fatcat contributors.

The bailout reminds me of a young lady who was told her bank account was overdrawn and remarked” I can’t be out of money! I’m not out of checks!” Is that the Senate’s excuse? No Bailout! They are trying to write a check they can’t cash. But come election day I bet the American People can cash a check. I am still trying to reach my Senators, but still no luck getting though. I just read that idiots named Hoyer and Blunt say there are less messages coming in today, if they are turning off the fax machines, bouncing emails, and refusing to answer the phones I wonder why? No Bailout.

At least this bill contains “cost recovery peroid for motorsports racing track facility”… “Railroad track maintenance”…and “economic development credit for American Samoa.” The horrible “leaders” are adding everything under the sun to this bill. Contact Congress – tell them to vote NO -

Vote for Bob Barr, the only conservative presidential candidate opposed to the bailouts. Sure he won’t win in 2008, but you can at least vote your conscience and take a stand against the socialism and nationalism that will occur with a democrat-controlled congress. Because we all know full well that McCain will sign any crap socialist legislation they write, just like he supports this bailout, just like he sided with Feingold on campaign finance and Kennedy on immigration. McCain is no friend to conservatives, and is almost as bad as Obama. In truth, it won’t matter which one gets elected because McCain talks bipartisanship and he won’t veto socialist democrat bills. Vote for Barr and make a statement that we want to return this country to conservative values. A vote for McCain is a vote for a “progressive” republican party.

People, you need to contact your Senators and Representatives about this BAILOUT – we, the Taxpayers, will ultimately get the bill for this!
This is all a bunch of CRAP – let Wall Street bail themselves out. The Wall Street Executives/CEO’s will walk away with Millions for running their Companies out of business. The Government has NO BUSINESS bailing out these Financial Companies because they made bad decisions. Prediction: 5 years from now the Government will still have all these worthless “assets” as they’re calling them. The Government, as a result, will be the largest private property owner in the US.
Use some of that $700B toward Healthcare and securing Social Security – imagine what $700B could do for those initiatives. If they put $700B into BAILING OUT you SAFELY BET there will be NO MONEY for them in the future – that’s a given!

WoW I can not believe this scum of the earth are still add it. They do not represent the people. The people have spoken and they do not want bail out those pieces of dirt from wall street. This just show that Pelosi, Ried, Obama, McSame, and the President belong to Wall Street.

The controlling party has been sticking their heads in the sand or benefitted greatly from lobbyist. Listen to this from their own mouths.
And we want to trust Obama and his party. The controlling party is the party that benefited the most from these bad loans and stands to benefit allot more with a bailout. Change? I doubt the controlling party will change their stripes with an Obama win.

Unless and until they put something in this bill to help the homeowners with their adjustable rate loans and outragous credit card rates it should be a big fat NO! This vote will change all the House and Senate seats this fall….they’re all going down.

You still don’t know that number 1 donation from Fannie Mae and Freddie Mac went to Dodd and number 2 to Obama?? Obama in one year in Congress got more money than anyone else from these corrupt companies. Wonder why?? Obama will bail out all the corrupt Wall street cronies and will raise your taxes to pay for it. And don’t expect any health insurance or anythingh elese he is promissing becuause there are and will be no money! No bail out. Divide the money you want to use for bail out to the tax paiers – they will rebound the economy. The corrupt cronies won’t!

It would be a big relief if it failed in the senate tonight. This bailout is scary stuff.

Can someone please explain to me WHY Congress didn’t come up with a bill initially that DIDN’T REWARD Wall Street for their bad business practices?? I think I could actually STOMACH a bailout that SIMPLY DID NOT REWARD BAD BEHAVIOR!

YOU GOT TO BE KIDDING! Bad to worse! The revised Senate bailout bill that will be voted on today contains some
very strange additions. Wool Research, Wooden Arrows designed for use by
children, Race Tracks, Virgin Island and Puerto Rican Rum to name a few.
New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez
incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)

It’s time to put an end to our government’s ability to run at a significant deficit.
I think we can be sure that _most_ of these nimnulls understand in their personal finances that unrestricted spending on credit is A Bad Thing… it’s time to force them to be equally realistic with public funds. They’re playing games with the world’s economy.
This seems to be nothing more than a photo-op for some of our elected leaders; if they were making a good faith effort we wouldn’t see all the extraneous BS (like tax code modifications) being piled on top of the core legislation.
These ****s (pick the expletive of your choice) are being grossly irresponsible; it’s time to replace them with a new generation of legislators who actually have a clear view of their responsibilities.
Jimmy Carter for President!

“You still don’t know that number 1 donation from Fannie Mae and Freddie Mac went to Dodd and number 2 to Obama?? Obama in one year in Congress got more money than anyone else from these corrupt companies. ”
You don’t know that Obama’s total haul from Fannie Mae & Freddie Mac was $120K?
You dont know that McCain in joint fundraising took in $189K this year alone from just 8 Fannie Mae big wigs?
You don’t know that Rick Davis’s company has been paid $240K this year alone with one official characterizing it as buying access to McCain?
Its amazing what one doesn’t know when one only watches FoxNews.

There are shills who are being paid to leave comments in support of the bailout on news websites and message boards. Call centers have been hired to phone the Senate and pretend to be votors who support the bailout. Wall Street is spending a lot of money to try to get this bill passed. They’ve committed to 150,000 calls to Congress per hour. It is obvious that the vast majority of Americans are strongly oposed to it. We must keep up the pressure.

To CON Gress -
DO NOT bail out the RICH. Save the Middle Class!
We are all tired of being screwed by Congress and their Greedy Upper Two Percent Rich Friends!!!

This goes from bad to worse….call…email your rep and tell them NOOOOOOOOOOOOO BAILOUT…NOW!!
THIS IS AN INSULT AND A SLAP IN THE FACE OF ALL AMERICANS….EMAIL…FAX CALL….DO SOMETHING TO STOP THIS MADNESS!!

the truth behind the veils:
I don’t know what God you are talking about, but for the record He doesn’t pick sides. Man created politics. God
didn’t fly planes into the WTC buildings, man did. God did not start the war in Iraq, man did. God did not cause economic breakdown, MAN DID. As
for Katrina, that was a natural disaster and my guess is God didn’t have a hand in that either – its just weather. It happens everyday of every season every year. Don’t you dare use God in that matter, you nor anyone else on earth has the right to do so. Shame on you for trying to lure people in politics with God. Shame.

Let me just say that I hope these congressmen and women vote their conscience (thumbs up or down) and not base it on re-elections. It’s disgusting to think that someone would put their polital career first and the health and future of our economy second, but that’s clearly what’s happening. If you don’t believe it will help, fine. But if you vote against your judgement just to get re-elected, you’re scum. Sorry, but that’s the risk of being a true leader in this country – you have to be able to make unpopular decisions.

Instead of bailing out large industries why doesn’t the gov bail out the people? everyone over 18 years of age should get $200,000 (which would total 350 billion dollars-half of the proposed bill. we would be taxed on it as income so the total would be even less. with a sum like that there would be no foreclosures!! It seems more fair this way than congress proposal -
since the taxpayers are going to pay the bill give it to the taxpayers

Vote ‘No’ to the bailout-Resuce Plan. The New Plan, puts Humpty Dumpty back onthe Wall Street. Wall Street is the seperation, between The 5% and the 95%. The New Revisions, only make Wall Street in control again. We wil once again loose our ‘Independence’. Why would anyone support, the New Bill, will only bring forth a Credit Line of ‘Mass Destruction.’Please vote ‘No’ to ‘Wall Street’. No More Division.

My question is Who is going to purchase this $700 BILLION worth of bonds? IRAN???

The bailout that is currently proposed seeks to have the government buy all of the subprime loans from the institutions that now own them. With what we now know about Obama’s involvement in the scheme to give loans to people that can not afford to pay them back, what do you think the government is going to do with all of those loans if Obama is elected? Do you think Obama is going to force all of those people to pay those loans? If they don’t pay the loans, do you think Obama is going to foreclose on them? Is Obama going to kick them out of the homes and resell the homes to get back some of the taxpayer’s money? If you believe any of that, than I have a bridge I’d like to sell you. Obama is going to either give them the homes outright as a sort of “mini-reparations” or he will convert the loans into longer term interest free loans. The taxpayers will never see the money again, the Wall Streeters will get to keep their fortunes and get their ’08 bonuses, and the people that should never have bought houses in the first place will be sitting pretty while the rest of us fools pay increased taxes to pay for it all.

Film and Television Productions – Wooden Arrows designed for use by children – Auto Racing Tracks – Wool Research…and this bill is going to save our economy?? This goes to show, you can be a well educated person, even a lawyer…and still be a total air-head. Say NO to this ignorance. No one who supports this garbage the way it is should be elected or re-elected.

VOTE NO ENCUMBENT-let’s fix this mess.

I am amazed at how the real reason why this is all happening is not obvious to anyone with a 50 points or more IQ. It is all about OIL! When this did debacle really blew up, THIS YEAR, after a massive amounrt of speculators puled their money out of Wall Street proper to raise OIL to twice its price. Proof? Check out the financial markets of Germany, Italy, France, Russia, they are all struggling too! Do you know any american that has a loan with the Bank of Italy? NO, the money was taken out of USA because the dollar was getting weak. It was taken out to speculate on OIL. John Doe and Jane Doe started feeling the squeeze when it took $500 of gas a month. Then bread when to $3 a pound ’cause of transportation cost and agricultural lands been used to produce Ethanol. PEOPLE WAKE UP! W just wants more money in the markets so that the people that have made his family rich during the last 40 years can get even more filthy rich! Obama – if you fall for this I will certaintly not vote for you! Palin — chack who paid the scientists who told her it was OK to kill bears and wolves. McCain — prove to me your not in the Oil Industry’s pocket by calling this what it is!

Citizens – Fight the Democrats tooth and nail!!! Oppose the bailout!! The Democrats are just trying to save face for creating this whole mess in the first place. Through regulation, they forced the banks to give loans to people that couldn’t afford to pay them. Now that their scheme has exploded, they are trying to get this bailout passed as a smokescreen. Fight them or your children will still be paying for this 30 years from now.

NO. We are now hearing nonsense that these securities are a fine investment that we will break even or make money on in just a few years. Leaving aside the fact that those dollars will be worth about 25% less at the level of debt this will require, if this were so wouldn’t someone VOLUNTARILY invest their own money? Clearly this is a theft of taxpayer money to artificially support credit markets that are riddled with overpriced capacity. So long as the “solution” is to prop up housing values that are too high through government tax-funded corporate welfare, it will be, at best, a delaying tactic to move the misery past the next election cycle. My senator has an opponent this time out and I’m voting for him unless he falls down drunk on TV. My Congressman’s unopposed unfortunately.

Sound businesses and people with good credit histories will still be able to borrow without this massive taxpayer-funded bailout. The strong companies will survive and the weak will fail and start over. Let the winnowing begin. NO bailout!

70 Senators are for this bailout. This Senate is not a Senate of a Republic it is an Imperial Senate, completely oblivious to the voice of the people and only listening to the Emperor and Oligarchs.

This goes from bad to worse. What happened to those dire predictions that the markets were going to seize up if Congress didn’t act last week? It didn’t happen. The market has moved up and down and credit is still flowing. I don’t buy it that we are courting catastrophe if we don’t bail out Wall St. Where is the evidence of that? I am not convinced and most Americans are not convinced. No bailouts.

Forget the fact that the democrats caused this mess, the most important thing now is to stop the democrats from pasing this bill. The Dems can be prosecuted later!!

i hear about 80% no to the “bailout” some for all the wrong reason too.i am just hopeful it wont happen but amused to see the republican nonsupport for anything that will make them have less money.
(except for the ones who read the drudge report/fox news nonsense ,they have their sycophant script handed to them already)
this time having a cheapskate skinflint voter base is KILLING the republicans…
WOOOOOOOOOOOOOOOOHOOOOOOOOOOOOO!!

An appeal to all the Senators: It is our ferveny hope, that you shall not betray the trust we put on you, and the voice that we have been trying to tell you in regards to the $700 billions taxpayers money bailout of the Wall Street. Please vote accordingly to your constituents voice.

Many of you are complaining that the websites of your congressmen are down. Call your member or send an email

Citizens – Fight the Democrats tooth and nail!!! Oppose the bailout!! The Democrats are just trying to save face for creating this whole mess in the first place. Through regulation, they forced the banks to give loans to people that couldn’t afford to pay them. Now that their scheme has exploded, they are trying to get this bailout passed as a smokescreen. Fight them or your children will still be paying for this 30 years from now.

Walter it is all of congress that must not pass this bill.

This is a bailout from hell! . There has to be better “free market” solutions.We cannot let them ram this through.
The best ideas are coming from outside the two main parties. Bob Barr has been all over this from the start. He has some very good ideas for solutions.

“If the house neocons break the agreement this time, they will be stuck with it as the economy collapses.”
The Democrats have the votes to pass it on their own.
Or, being afraid to take responsibility for it, they let it fail.
Which means Obama is a lame duck on day one with no support from his hedge fund supporters on Wall Street, reduced funding to ACORN, reduced funding to social engineering and so forth. After two years of that, the midterms will see a shift back to the right, and in four years, they pick back up the whole enchilada.
Pelosi should never have made that speech. Obama and the media should not have knifed Hillary Clinton.
The chickens!!! The chickens!!! Ah, the roostiness of it all.

Bush just does not get it. NO one in their right mind wants to give the financial industry a free pass in the form of 700 billion dollars from the tax payers for their greedy and potentially criminal practices. It would not only condone their actions but encourage it in the future. their tinkering with the bill has made this bill even worse by providing the institutions with even more freedom. institutions are not the real victims. its the people. What bush is trying is BEYOND HIGH TREASON.
since the people are the victims they should receive the majority of the money in mortgage relief for those most effected. those who have held up should get smaller savings incentives in the form of RRSP’s. whats next is he going to start signing bills enabling the financial institutions to capture slaves for those who they caught after giving out massive amouts of money loans to those who could never repay them.

Why are we complaining?
During 8 years of this administration, deficit went up by 5 trillion. That is over 600 billion a year. And that is not counting spending Social Security surplus. What is another trillion? And lets put ex CEO of Goldman Sachs in charge. I am sure White house, congress, senate, Wall Street have our best interests in mind. I am surprised that anyone still has any respect left for them.
But, if you are behind a few bucks on your taxes, IRS will put take your assets. Oh well, we have democracy! Lets spread more freedom around the world. After all every country should be just like us. Hail the freedom fries! Congress had nothing better to do then rename them and investigate steroid usage in Baseball! WHAT A JOKE!
VOTE THEM ALL OUT!

John Boehner is right, this is a (huge) crap sandwich!
NO way, no how, not now, not ever, will I favor a bailout for the greedy rich. They all should go to jail!!!
McCain was right, “greed”, let the AIG, Fannie and Freddie take their lumps for 20 or 30 years in the slammer!
The government can help the Joe six-pack and the he!! with the crooks that started this mess.
If only the country would have listened to McCain back in 2005, there wouldn’t be a situation with the mortgages and banks!
McCain/Palin – Real Americans !!!

For 2 weeks now we’ve been told daily if we don’t do something today, financial armagedon will arrive tomorrow. Every day we get by though and the stock market isn’t plummeting 2,000 points as many have suggested. We are in a certainly in a financial mess, and things need to be done.
However, we must be smart in how we solve this mess, or we will only be doing this all over again in 5-10 years. Our so called leaders have now added to the bill to go before the Senate today. It includes funding for foreign banks and to name just a few:
New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez
incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)
Take 1 minute and tell Congress to Vote NO on this bailout. It is time our leaders work on a real plan that truly solves this financial crisis for decades to come.

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:
Common Sense Plan.
I. INSURANCE
A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
B. In order for a company to accept the government-backed insurance, they must do two things:
1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.
C. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
A. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
B. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.
B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.

to indy_voter: We know something has to happen and soon. I do not think that is the issue. The issue is that Congress appears to want to help their friends and the ones who contributed to their campaigns, not the average American taxpayer who is going to have to pay this…like you.

No bail-Out why won’t they listen?
I will not vote for anyone that votes for this craziness! Even if that means I can’t vote for McCain, I will be looking at a new person or a write in!

Whether you like him or not, email McCain, tell him to vote NO!

What is all of this crap about credit drying up if the bailout doesn’t go through. Not all banks are failing, just the ones that own a lot of bad paper. We first need to immediatly halt the Democrat program that forces banks to give loans to risky borrowers. Let the troubled institutions fail, like they should. Then provide funding for the surviving banks to lend to small businesses, families, etc. This drying up of credit argument sounds like a red herring.

The Goverment is getting to Big and Powerful. Soon we won’t have anything at all.
Smalle Goverment, More Liberty
Vote BOB BARR 2008!

The bailout that is currently proposed seeks to have the government buy all of the subprime loans from the institutions that now own them. With what we now know about Obama’s involvement in the scheme to give loans to people that can not afford to pay them back, what do you think the government is going to do with all of those loans if Obama is elected? Do you think Obama is going to force all of those people to pay those loans? If they don’t pay the loans, do you think Obama is going to foreclose on them? Is Obama going to kick them out of the homes and resell the homes to get back some of the taxpayer’s money? If you believe any of that, than I have a bridge I’d like to sell you. Obama is going to either give them the homes outright as a sort of “mini-reparations” or he will convert the loans into longer term interest free loans. The taxpayers will never see the money again, the Wall Streeters will get to keep their fortunes and get their ’08 bonuses, and the people that should never have bought houses in the first place will be sitting pretty while the rest of us fools pay increased taxes to pay for it all.

McCain and Obama are makeing the Goverment Bigger then ever before.
Stop the spending and take overs.
Vote Barr

We need to let Washington know that if they vote yes to any bailout bill, we will make certain that none of them are re-elected in their next election campaigns. We also will not vote for either Presidential candidate that votes yes for ANY bailout bill.

It looks like these %&#$@*^$% in Washington are going to do what they darn please regardless of what the American people think….seriously, they really DON’T CARE!

3. “Controlling government spending is a necessary step to enact true tax reform, which will reduce the burden on all Americans and allow them to keep more of their hard-earned money.” This is what a Bob Barr administration wants to do for you. Will you let them?
http://www.BobBarr2008.com

“Controlling government spending is a necessary step to enact true tax reform, which will reduce the burden on all Americans and allow them to keep more of their hard-earned money.” This is what a Bob Barr administration wants to do for you. Will you let them?
Stop the ballout! Call your Congressmen and tell them to vote NO!!

I do not think anyone here fully understands what this is for. This is not a Wall Street Bail out but a rescue plan for the US credit. It should have never been call a Wall Street Bailout. If the credit is not fixed soon no one will be able to get loans for anything. No home loans, no car loans, no student loans, and no loans for business. If businesses don’t get loans then no jobs for you and me. The economy then collapses and everybody suffers.

Bob Barr is everything that is right in this country. People that are
willing to move forward in getting another voice in the debates and the White
House, please look into Libertarian candidate Bob Barr. Many have said that a vote
for Barr is a wasted vote, but this is just not true. If the Libertarians just get
5% of the vote, they will then receive millions of dollars in funding for 2012
(which only (R) and (D) get) and will also achieved ballot status in all 50
States! Now to me getting another voice in Government, other than the same-old out
of tune voice, into office in 4 years is very important step to changing our
government. Just remember there are more the two opinions out there in America and
there are still only two political parties in power.

Barr is the only way after visting his site.
I will be voteing Barr on Nov 4th!

Get Barr into the Deabtes. After the last lame on an now the Bailout we need to hear another voice. There are more then just 2 sides people.

Here is what the Libertarian candidate Bob Barr wants to do for you. He
wants to make your taxes fit on to a post card! Please look into Mr. Barr’s ideas
to help the America people not the government.

Charlie,
Have you tried getting a loan lately? Do you think you will need a loan soon. Well if this does not pass you will not get a loan. Business need to borrow money to operate. If Businesses don’t get money to operate they lay people off or go out of business.

“Controlling government spending is a necessary step to enact true tax reform, which will reduce the burden on all Americans and allow them to keep more of their hard-earned money.” This is what a Bob Barr administration wants to do
for you. Will you let them?

vakcmo,
No i haven’t, but i live within my means, unlike our government. If i do not have the cash on hand i do not need an item. These BAIL OUTS will do nothing morre than pad the pockets of the already wealthy

Charlie,
It must be nice being rich and not need to borow money to buy a car or a house.But the rest of us need credit to live.

vacmo…If you have to live on credit then you are living beyond your means…try restaints!! Don’t buy want you cannot afford! That is how you survive and live a peaceful life!!!

vakcmo,
No not rich i just manage my money, my wife and i combined make less than $50,000 a year. Have a mortgage, but no car payments, save money and you do not need loans…except for maybe the purchase of a house

mfmros,
Words of wisdom

Charlie, So you needed a loan to buy your house. What if you could’nt get a loan to buy your house. Live on the street.

Charlie, How did the people you rent from buy the complex or house? Most likey they got a loan.

THIS POST by Nikki HAS PROMISE:
“Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:
Common Sense Plan.
I. INSURANCE
A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
B. In order for a company to accept the government-backed insurance, they must do two things:
1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.
C. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
A. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
B. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.
B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.
Posted by: Nikki | Oct 1, 2008 4:36:38 PM”
The above post is a good starting point for a meaningful discussion of potential solutions. (Another approach might be to take your proposal and add to it by amending the bankruptcy laws to give bankruptcy courts “cramdown” powers to adjust mortgages to current property FMVs. You’d have to go to bankruptcy for relief; the relief could be tailored to the individual financial circumstances of the borrowers, the local real estate market, and end with realistic workout solutions that bankruptcy courts have lots of experience with already.)
The main caveat in your proposal I see is to limit the time and/or circumstances under which the capital gains taxes would be totally removed. You are giving mark to market limitations; do something similar in reguards to the capital gains part of the equation.

mfmros,
wall street could take a lesson from you

I have called..emailed…faxed…guess what…the elves have shut down the systems??? emails don’t go thru…voice mail boxes full…how convenient!!! No bailout!!!!

I hope the bailout plan fails again. I think the best thing for the house and the senate to do would be to sign a bill that would send the money to the taxpayers, not the banks or the companies in the stock market. If they would send the money to us most of us would use the money to pay off our mortgages and credit card bills. That would get the banks solvent again and would get us, the taxpayers, out from under our burdens of debt. That seems like the best and only sensible thing to do to me.

mfmros,
That is the reason we need Bob Barr in the debates…So America can see that there is a BETTER option for President

well, Is the US more communism than China?

antony,
Not Yet But our leadership is trying hard oh so very hard

Is anyone investigating Obama’s ties to ACORN? The following information is condensed from an article by Stanley Kurtz. O’s Dangerous Pals.Fannie and Freddie acted in response to Clinton administration pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster. ONE key pioneer of ACORN’s subprime-loan shakedown racket was Madeline Talbott – an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae’s mortgage policies.Obama Trains ACORN Staff in Shakedown Tactics: It would be tough to find an “on the ground” community organizer more closely tied to the subprime-mortgage fiasco than Madeline Talbott. And no one has been more supportive of Madeline Talbott than Barack Obama. When Obama was just a budding community organizer in Chicago, Talbott was so impressed that she asked him to train her personal staff. He returned to Chicago in the early ’90s, just as Talbott was starting her pressure campaign on local banks. In those years, he also conducted leadership-training seminars for ACORN’s up-and-coming organizers. That is, Obama was training the army of ACORN organizers who participated in Madeline Talbott’s drive against Chicago’s banks. More than that, Obama was funding them. As he rose to a leadership role at Chicago’s Woods Fund, he became the most powerful voice on the foundation’s board for supporting ACORN and other community organizers. In 1995, the Woods Fund substantially expanded its funding of community organizers – and Obama chaired the committee that urged and managed the shift.

You know what I find interesting about Jake’s column? He did not mention that one politician said, “Well, the majority of the voters I represent want __________ (fill in the blank).” No, this is all about what THEY, the political parties, want.
Who the heck cares about tax extenders? And God bless the person that will benefit from the FDIC insurance raised to $250,000.00. That’s not my world.
These people do not serve us the voters.
My suggestion would be to have those Blue Dogs spin off into a party of their own. Call it the Blue Dog Party and let’s start to get alternate representation in this country. Somebody that will represent that average American who works, pays their bills, doesn’t overextend and generally minds their own business. I bet you that a party like that would take off like a rocket.

What is McGimmick going to try next?
Anyone got any fun ideas?
What a laughing-stock, wimp of a candidate.

test

For all his talk, what exactly has Obama done – as in actual work – on the bailout. In an interview with ABC News, he said he’d talked with Bush, Pelosi and Reid, emphasizing that something had to be done. Duh!
When the Self-Proclaimed Uniter was asked if he’d talked with any Republicans he said, “I don’t think me calling House Republican members would have been that helpful, I tend not to be that persuasive on that side of the aisle.”

Bailout Blues Cafe
Crap sandwich and Congress pie
Open til’ midnight.

Belle Star, What’s the difference between Sanders and Obama? They’re both socialists, only Obama’s voting record is further left.

Why should I help the people that went and made bad chocies. The people that played with their money got burnned, why sould I get burnned too!!!
I say let the market work, stop restricting it!!!
Vote Barr

Boy these people have the most creative ways to take our money for things that usualy go wrong and end up costing more money, or worse peoples lives. I checked out those Libertarians awhile ago and I am sold. As a veteran I see their position as the closest to what this great nation was supposed to be, and voting libertarian is now the best way for me to honor my oath of service.
A vote for Bob Barr is a vote of the ppeople, by the people, of the people, avote any other way is for the bankers.

Now I know why Bush has a ‘secret’ army unit standing by to be used as a police force in case of ‘national emergencies’….. posse comitatus be damned…. they knew this crisis was going to happen, hell, they might have even planned it..
you want change? march on Washington

We need to return to our touch stone, the Constitution, this country is way out of balance. Bring back the values that built this nation, check out Bob Barr, it is time for logic to rule the day, not fear and taxes.

BO voted ‘present’ once again – he was no help. He is an empty suit, and will tax and spend America into a 3rd World Country status!
YOU PEOPLE WHO ARE VOTING FOR THIS MAN ARE AS INSANE AS HE IS…..

The best thing would be to replace Pelosi, and substitute Sanders — by acclimation — as president, instead of heading toward a civil war with the “Democratic” or Republican presidential entrants, who have extensive matched sets of corporate skeletons.

Chrysler might be on the block – possibly being sold to Nissan.
Auto dealerships are floundering now.
As people struggle to pay their mortgages and provide basic needs for their families, they will not be buying automobiles at the rate they did last year. Whether or not the credit supply is opened up a bit will not increase automobile sales, people need to be able to afford financing another vehicle. A bailout of the financial institutions WILL NOT solve this problem.
The people MUST have mortgage relief. Inflation must be brought under control. This will not happen with a $700B bailout – or whatever folks want to call it to make it sound good!
THIS BAILOUT BILL IS A TOTAL SHAM AND MUST BE STOPPED!
Increasing the debt by $6K per citizen or $25K PER TAXPAYER will not introduce more disposable income to the family. David Kucinich had the right plan, fix the mortgage industry so that homes are not foreclosed upon and seized by the banks. This only drives everyone else’s property values down while increasing bank debt and future loan rates. It’s cheaper to save a house from foreclosure and does not cause traumatic damage to the families involved.
There were also a couple of foreign countries, facing this same problem, who fixed with without a bailout or increased debt to its citizens. This was on Lou Dobbs Money Line yesterday!
Obama or McCain – Have the stones to stop this bill, BECAUSE IT STINKS ON ICE!

I do not support a bailout for banks or “struggling” homeowners.
After discussing this with my parents and brother, they ALSO don’t agree on a bailout.
People who made inappropriate decisions should suffer the consequences.
Putting our country in debt and adding a tax cut on top is completely irresponsible. It is decisions like this that have put us in the situation we are in. To top it off, there is not one shred of proof that this will even work!!!
By giving banks cash, you encourage them to loan money (again) to irresponsible individuals. By bailing out struggling homeowners, you are rewarding people for making poor financial decisions and you are inflating home prices until these people screw up again…so you are dragging out the home foreclosure problem.
I know some people say that the government will make its money back…this is unrealistic. If this was such a good deal than why aren’t investors jumping at the opportunity to help??? Because they know that this is a money losing proposition.
Stop rewarding people who do things wrong.
People who were smart enough NOT to overpay for a house or NOT take out loans they couldn’t afford…are the people getting screwed here. So you PUNISH responsible people but reward irresponsible people.
And people wonder WHY America is heading in the wrong direction. Stop trying to buy votes and do what is best for the country. By having limited credit, only the strong will survive and this is good for America.

“only the strong will survive and this is good for America.”

The real crap sandwich is that we are bailing out the Chinese, Arab, and European investors who are holding that bad paper.
That bad paper is the direct result of the democrat party ruining the economy and people’s lives by insisting that banks give loans to people who cannot re-pay them.

Hank Paulsen has consulted with China and others for years. Where do you think he has is $700M invested?

“I think marching on Washington is a GREAT idea!”

The Senate just pass their version of the bill————nasty.

Okay Senators, Congressmen … here is the deal. You vote for a bailout I vote against you in the election. What part of that don’t you understand?

The republicans warned and tried to stop this mess——————–but the demmies fought it back. Thanks demmies, thanks Obama for screwing America again.

wow if we dont come up with billions wall street will have problems–what are we the bottomless bank—i do not approve this bailout due to incompetence.this country is big business and we are the pennies that feed it.

chattaway—you hero mccain has been trying to influence this vote from the beginning–he is for it–along with obama—THE MIDDLE CLASS TAKES ANOTHER BEATING.

If you have a 401K, drop your contribution % in response to this Washington / Wall Street bailout. Enough is enough! The same people that caused this problem, are now going to solve it?? …and they’ll say the government is going to make money on the $700B…right, since when did the government ever make money on anything. Dodd being celebrated after the vote? Are they crazy? This guy should be in jail…and Mitch McConnell snickering along. I hope he’s voted out in November. Power to the people, enough is enough! Let DC and Wall Street eat beans and franks for once.

found this:
“a 2007 report by the Mortgage Bankers Association reports that the FBI estimates “80 percent of all reported fraud losses arise from fraud for profit schemes that involve industry insiders.”
That means the lenders, not the borrowers.”
Mission Accomplished

One thing I don’t see mentioned much in here is the fact that a Congressional bailout of private enterprise, whether $700 Billion or just $70, is against the Highest Law of this country, our Constitution.
It is actually a CRIME to vote for this bill – a violation of Article II Section 8 and Amendments 9 and 10.
So as much as some of the commenters here feel it really is needed, the bailout bill is, by legal definition, a criminal enterprise and every congressman SHOULD be voting no, in keeping with his or her oath to uphold the Constitution.

Democracy was dealt a serious blow last night. 94% of the American citizens are opposed to this bill and the Senators who we voted in by us, voted for people who should be put into prison. It is obvious Senator McCain and Senator Obama can not be trusted as neither voted for the people of this country. We CAN NOT allow this bill pass the house of Representatives.

this bailout is a bunch of bs—and the pocket stuffers are standing in line——if any of my local people vote for it i will work very hard to make sure they pay next electon—and i am letting them know it.yes gang the rich are in controll and we are the fools that feed them——NO BAILOUT

ABC YOU NEED TO RESTART THIS BLOG AND GET IT ON THE FRONT BURNER————————–THE PEOPLE NEED TO BE HEARD–

CHECK……CHECK PLEASE!!!