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I hope that this convinced the republicans that deregulation does not work because trusting large corporations to do the right thing is naive. If unfettered, they will get greedy and totally out of control.
Remember the S&L crisis?
Attending to the economy is critical, but passing this bill is not so time critical so as to eliminate proper thought and pursuit of alternate options. The appearance is that this is nothing more than political pandering to get votes in November or to get out of session in time to campaign. Seventy-four Senators just voted yes to a 450-page bill that I seriously doubt they even had time to read. There are countless other options that if we allow the economists of our nation, not just the executive lackeys, time to develop we could come up with a much more acceptable solution. Why is their no transparency in the particulars of the exact issues and specifically how this money will help “Main Street”? The American public is not ignorant we can handle the truth on our financial situation.
Wall Street will right itself; have faith in the greatest country and economic system in the world. We already have a nine trillion dollar debt that my children will have to pay. Congressmen vote “NO” to any bill until we properly review all alternatives.
Haste makes waste, alright!
Now I can go out and get one of those cheap mortgages I've been hearing about!
Take note of those Senators that voted for this crap and place their names on tyour fridge. When they come up for re-election, you know why to do. Also take take note of those in congress that will get the chance to vote on this garbage as well. Place their names on your fridge as well and in five weeks time, send them a clear message they will never forget with the power we have in our votes.
McCain does look like a lizard (with a fake tan).
These two are consistently out front in looking out for us. Too bad chickensh*ts like Reid and Pelosi always cave, and this is no exception.
Remarkable.
1. Wall street, Goverment, American households are all broke.
2. The government is going to tax American households (through printing of money and inflation) to get money for this bailout.
3. The government is then going to lend this money to Wall Street at a negative interest rate and lose money on it.
4. Wall Street is then going to lend it back to us through bank loans at a high interest rate.
5. American households will be discouraged to work due to high inflation and declare bankruptcy.
6. A high number of bankruptcies will cause Wall street to go into bankruptcy.
7. Wash rinse repeat till we have a serious depression or the value of the dollar is equal to 0.
Sorry for shouting, but does anyone have a link to it?
Though I would still like to see the text of the amendment(s) - I want to see the riders (earmarks) that have been attached. Even in a "crisis" it seems they've got to take advantage and attach riders. I just want to see how pathetic they are. I have found the draft text of the House bill easily several places, the first here: http://latimesblogs.latimes.com/money_co/2008/0... yet by now much may have changed. After it's birth as 'three pages.' LOL.
http://www.sanders.senate.gov/news/record.cfm?i...
Brilliant!
Filed at 10:52 p.m. ET
WASHINGTON (AP) -- Not just Wall Street is running scared. The consequences of the financial meltdown now are sinking in with ordinary Americans, who worry whether their jobs, home values, children's futures and retirement plans are at risk, according to a poll out Wednesday. Eight in 10 fear the crisis will affect them directly, according to an AP-GfK poll. Yet 45 percent of all adults still opposed the proposed government bailout. Some 38 percent were in favor of the $700 billion financial-market rescue plan and 16 percent were not sure in the poll, which was conducted Sept. 27-30.
http://www.nytimes.com/aponline/washington/AP-M...
Analysts said the dysfunction in the municipal bond markets appeared to signal the end of an era of relatively cheap money for governments and, probably, the start of an era of tough choices for communities. When the market starts moving again, they said, it will look a lot like the municipal bond market of 10 years ago, before the arrival of financial wizardry in the form of structured-finance products, which lowered borrowing costs but added big new risks. Instead, governments will probably be issuing plain-vanilla bonds with fixed rates of interest, higher than they are accustomed to. And higher rates suggest some degree of belt-tightening, especially difficult in places where tax revenues are being squeezed because of falling real estate values and the slowing economy.
http://www.nytimes.com/2008/10/01/business/01mu...
Cantwell (D-WA), Nay ***
Dorgan (D-ND), Nay ***
Feingold (D-WI), Nay ***
Johnson (D-SD), Nay ***
Landrieu (D-LA), Nay ***
Nelson (D-FL), Nay ***
Sanders (I-VT), Nay ***
Stabenow (D-MI), Nay ***
Tester (D-MT), Nay ***
Wyden (D-OR), Nay ***
Senate GOP who voted NO Wednesday on the financial bailout bill (S. Amdt. 5685 to H.R. 1424):
Allard (R-CO), Nay
Barrasso (R-WY), Nay
Brownback (R-KS), Nay
Bunning (R-KY), Nay
Cochran (R-MS), Nay
Crapo (R-ID), Nay
DeMint (R-SC), Nay
Dole (R-NC), Nay
Enzi (R-WY), Nay
Inhofe (R-OK), Nay
Roberts (R-KS), Nay
Sanders (I-VT), Nay
Sessions (R-AL), Nay
Shelby (R-AL), Nay
Vitter (R-LA), Nay
Wicker (R-MS), Nay
Direct links here: http://senateconservatives.files.wordpress.com/...
And if it's down here: http://hotair.cachefly.net/images/2008-10/ayo08...
Highlights include:
"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 gill:
* 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)"
Enjoy.
Now, there are some 30 days left to the Bush years, maybe we can find a way to hand over another fortune to say maybe the Insurance sector before he leaves office!
They'll be back in two months for MORE, Washington has rolled this country down the hill and I say thios country becaue the little people, thenones who can't earn more than say 30/40/50 a year ARE America and you just foeeced them again!!!
You will regret this, mark MY words.
I LOVE BERNIE SANDERS. Thank you, thank you!
Does it occur to anyone else that this obscene sum may be just the downpayment on Bush/Cheney's new Police State/Dictatorship?
Funny how all this rush coincides with the first time our troops are being stationed HERE (YESTERDAY, Oct 1st! You missed the story Amblog) to patrol OUR streets "In case of civil unrest" since the days of the Civil War, after which they passed the Posse Comitas Act to outlaw quartering troops in the homeland (No doubt wiped away by Bush's Military Commissions Act of this summer!).
So WHAT are they planning for US that would cause "Civil Unrest"? (besides this huge rip-off!)
Another Tri-fecta for Bush, a canceled election, or just another STOLEN one?
Is THIS the new "October Surprise", or just setting us up for a worse one?
Thankyou, Bernie Sanders, for pointing out who really needs to pay for this "protection racket": The Obscenely-rich, who benefited from all the graft and corruption as Bush's "Base"!
Who WAS that guy and was anyone else offended? I just didn't see anything to be laughing about in this very serious situation we are in.