|
|
May 24, 2013
|
|
|
|
 Bailout Gains More Support in the HousePosted on Oct 2, 2008
The Bloomberg news service counts 10 lawmakers who may be ready to switch their votes when the bailout proposal takes another run at the House of Representatives. The original measure failed by only 23 votes and has since been substantially fattened by the Senate.
Advertisement Previous item: Florida Republicans Hold Secret Meeting Next item: European Leaders Prepare for Economic Meetings New and Improved CommentsIf you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy. |
After Oklahoma Disaster, Give Thanks to Government
Email 
Print
Share
Email to a friend
Newsletter 
Like Us
Follow Us
Get Our Feed
Tags|Bazaar|Podcast|About Us|Contact Us|User Agreement|Privacy Policy|FAQ: Comments and Moderation | Google+
© 2013 Truthdig, LLC. All rights reserved.
By roma, October 3, 2008 at 11:57 am Link to this comment
So, for better or worse, the bail out passed, with the addition of various concessions to lobbyists and special interests. Concessions that I’m sure you will never hear about again in the main stream media. These include tax breaks for: wool manufacturers, people who ride bikes to work, race track owners, a tax refund for Rum importers in the Virgin Islands and Puerto Rico, and best of all, a tax exemption for a specialized type of Childs archery arrowhead, mostly made by one company.
The full version can be found at
http://www.cnn.com/2008/POLITICS/10/03/house.bailout/index.html#cnnSTCOther2
What the hell! - This epitomizes everything that is wrong with our system.
Is this the price of changing a congressman’s vote?
The most important bill that they could pass, which will probably never happen, is one that prohibits the practice of hiding unrelated riders in large, complicated bills. If they want to pass pork barrel initiatives, they should be required to include them in a general bill, maybe title it the “monthly barrel” and not hide them in high stake initiatives, or use them as a coercive tactic to negotiate their vote. .
Report thisBy Chris, October 3, 2008 at 11:12 am Link to this comment
(Unregistered commenter)
How is it that Congress, Senate, and the President can pass a bill that allows the using of tax payers money to buy up a bunch of failed mortgages (that was originally the tax payers mortgages) and then take those mortgages and sell them back to the same companies or same type of companies, make a profit, and the tax payers get what? The right to live in this home for another 5 years. and if it fails then America is right back where it is today.
Report thisMight I remind the american people on a statement made by George Bush Jr. “Iraq is a threat to america, It has weapons of mass destruction, and saddam hussien harbors terrorists from Al-Qaida and the taliban.” 1 year after invading this country we found 0 weapons of mass destruction, 0 terrorists involved with Al-Qaida, and we destroyed a country. This lie from president Bush has cost the american tax payers billions of dollars per month for the past 7 years. George Bush has lied to us before, and he is lieing to us again. It is a political move from the republicans to try and make McCain look like an economic hero. They are hoping that if this bill passes, that McCain will get full credit for it, But if it fails it will all be Obama’s fault with the help of the democrats.
Congress, Senate, And the president does not care what the tax payers think. They are going to pass a bill to use our hard earned money and there is nothing we can do to stop this. We will never get to vote on the bill. And they could care less if they get voted out of office. Well at least 1 man cant get voted back in regardless of the action of the bill. We should treat President Bush the same way he treated the american people when they were getting forclosed upon and ordered to move out. After all he is a lame duck.
If we vote the ones that pass the bill out of office they still collect a paycheck. So what do they have to lose? The way to fix this problem is to first gather the ones responsible for all of this up and charge them with the crime of fraud. They made a deal sound good to the tax payer and at the same time they were laughing behind their backs. I say bring back squaters rights, tell the people that lost their homes to move back into those homes and let the mortgage brokers and wall street take it the same way they gave it.
Why leave a home sit and rot while no one lives in it because the banks can’t sell them. Stop the bail out, put the people back in those forclosed homes, give the bankers 7 years to try and loan more money to sell the home they want to keep from the ones they swindled out of it. If there is any truth that credit has dried up and a bail-out (rescue) is needed , then the people will have a home for the price of the mental anguish they had to go through during the forclosure and the mental anguish of seeing that moment coming.
My heart goes out to those people for being so proud of finally making that american dream come true, Only to have that dream turn into a nightmare because of greed and fraud of bankers, and mortgage lenders, and then the White house trying to make a profit off the bankers and mortgage lenders deceit, at the price of the same people that were deceived!!
May god bless all of the tax payers.
By yacovm, October 3, 2008 at 10:48 am Link to this comment
What will happen if we don’t pass this bill?
1) We will not get loans such as mortgage, student, business and auto.
2) We will lose jobs all over
3) We will lose 401k plans and employers will have hard time with payrolls
What will happen if we let these effects play out?
1) We have not taken borrowing money serious. By all actuality one should not borrow money unless we had cash or collateral to back that loan up. That means before we swipe that plastic we should have that amount of money or even a bit more in the bank to back it up. Buying a $150,000 house is a very serious matter. Usually held with a 15 or 30 year mortgage, we have to be 100% sure that our job would be responsible or at least our profession to pay that bill every month. The same goes for student loans; our desire to learn must be strong enough to pay for it. The idea of experimenting with college with a student loan and then ten years down the road the loan comes back to haunt us when we are not even using it in our profession. We have abused loans when we buy new cars. Detroit has created an over supply. Car commercials have enticed American beyond belief. Nothing wrong with holing on to the old clunker.
Report this2) If the government wants to spend money let them build factories for alterative energies. One in every state for now that will cause a domino effect with the private sector.
3)
If there is any money left over to rescue these saving plans then they should. Companies that fold without paying their employees well be a matter of civil suits and a clause in the employer’s bankruptcy agreement.
By TUDeb, October 3, 2008 at 10:45 am Link to this comment
(Unregistered commenter)
Is there a list available anywhere that tells us who changed their vote after their pork was loaded into this? In other words, who sold their vote?
Report thisBy FadingFast, October 3, 2008 at 10:28 am Link to this comment
(Unregistered commenter)
To the Congress:
Stop the bail out! There is an alternative: Warren Buffett says the credit crisis can be relieved by the treasury LOANING up to 80% of the market price of toxic assets. He would buy-in in a heart beat. If Warren says it will work, that’s good enough for me. The Senate bill is fiscally irresponsible. PLEASE DO NOT SADDLE US WITH MORE DEBT.
Report thisBy truthsayer, October 3, 2008 at 8:01 am Link to this comment
For Congress Members:
This is your chance. Please for once at least be very careful about how you vote today. For many of you this may be your only or last chance to redeem yourself in front of the people, in front of your God, and to yourself.
You know very well what this bill, as it stands, will do. You are an intelligent person and you have risen to represent the people, having been put there by the people – not just by the masters of the universe. In return, you must pay attention to the people. That’s the solemn oath you have taken in front of the people, to your God, and to yourself.
Now is the time to fulfill your oath. This bill basically kills people, giving money to the very rich people, the very people who created this chaos by making billions at the expense of the general people. Please don’t kill the people.
Think of the consequences of your yes vote: People will die and you will be responsible for their death. People will be thrown out of their house. Children and women will face hunger, rape, and degradation and you will be responsible. Can you live with that?
If you are a God fearing person: Don’t you think that God doesn’t know what you are doing? Is God ignorant of the lies you are spewing on behalf of your masters? Is God so blind? Or, do you think that God has been hijacked by your masters, or do you think the masters ARE your God?
If you are in the Black Caucus: This financial chaos created by the masters affect the poor, mostly Blacks and Latinos. If you vote yes to this bill, your ancestors will be turning in their graves at your insolence. Remember their sufferings, their inhumane deaths, and the atrocities committed on them by the ancestors of these masters. It is your duty now to look after the people that look up to you for justice. This sacred duty you must not fail. Do not vote yes to this bill.
If you want to change your vote to yes: If you are thinking of changing your vote to yes because of a call from Obama or McCain, please don’t use this excuse. You have to answer to yourself and the people when you vote. Both the leaders are devoted servants of the masters and will willingly carry out their masters’ orders at the detriment of the people. You must stand by yourself if need be in and answer only to your own conscience when you vote and you must vote NO.
Lastly, remember that the people will kick you out within five weeks if you vote yes.
Report thisBy David, October 3, 2008 at 6:43 am Link to this comment
(Unregistered commenter)
CEOs and Boards of Directors.
THESE are the people who invented junk mortgage bonds, depending solely on continued boom in the housing market. The oldest rule of econ 101 applys here: What goes up, will at sometime come down.
These MBAs have put not only this country in this financial crisis, but the entire planet.
The bailout is like the Iraq war: Neither was a good idea, but since we are there, something must be done besides pointing fingers. The US cannot go into financial collapse. Period.
And after the smoke clears a little, there are many CEOs and Board members of failed banks and investment firms that need to be arrested for possible criminal activity, in their rape of the financial system. How can a Bank or Company declare bankrupcy, and the CEO walks away with millions?
This is a CRIME, and should…no…MUST be treated as such.
Report thisBy Leisure Suit Larry, October 3, 2008 at 6:20 am Link to this comment
(Unregistered commenter)
Mike Michaud (D MAINE) second district is a member who is waivering. Currently he is way ahead in the polls…. watch this change if he votes with the bankers.
This story also neglects to mention that several lawmakers who voted Yea last time are considering a nay today.
Report thisBy leilah, October 3, 2008 at 6:19 am Link to this comment
Robert Johnson on Democracy Now! just said it. The Congress is showing openly that they are in defiance of the people who elected them, their bosses. They are saying F—- YOU! At least two years of Recession. Half the money is going to the Saudis (Bush’e friends) and the Chinese. I wondered, How stupid can these people be? Unless of course they knew beforehand that the deal was too big to fail. Every Yea vote gets a Golden Parachute.
Report thisThere’ll be plenty of reminders of this betrayal. Credit won’t ease up to any great extent, the stock market won’t improve, jobs won’t increase. This the classic Mafia Economics. The country was taken over, everything was stolen including the pot to piss in and the window to throw it out of, and then comes the fire.
As that noted Economist, Bette Davis once said, “Hold on to your hats, we’re in for a bumpy ride.”
Just write it on the wall or on a card so you don’t forget. Write, “THEY SCREWED ME AND MY FAMILY!”