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DRUDGE SOURCE: House Republicans met in am: Just 4 members support Paulson plan...
Drudge Report ^ | September 24, 2008 | Matt Drudge

Posted on 09/24/2008 1:57:04 PM PDT by counterpunch

SOURCE: House Republicans met in am: Just 4 members support Paulson plan...


TOPICS: Breaking News; Business/Economy
KEYWORDS: 110th; bailout; congress; failout; misleading
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Good. Now we just need Mike Pence for GOP House leadership and throw Boner under the bus. (I bet he's one of the 4 supporting.)
1 posted on 09/24/2008 1:57:05 PM PDT by counterpunch
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To: counterpunch

John Boehner is a good guy. I would not be so sure about him being one of the four.


2 posted on 09/24/2008 2:01:10 PM PDT by Blogger
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To: counterpunch
Since the RATs have a majority in the House, how many of them voted against the plan?
3 posted on 09/24/2008 2:01:38 PM PDT by CatOwner
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To: counterpunch

come out with a bold free market version, get on the sunday shows to promote it, McCain endorses (hopefully), and we win in November.


4 posted on 09/24/2008 2:01:57 PM PDT by ilgipper
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To: counterpunch

I wonder how many can be bought off with an earmark? After all, the original bill was only 2.5 pages.


5 posted on 09/24/2008 2:02:06 PM PDT by Boiling Pots (Old and Busted: Barack 0bama, New Hotness: Sarah Palin)
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To: counterpunch

Mr. Burns: “EXCELLENT!”


6 posted on 09/24/2008 2:02:08 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: counterpunch
Ok. I'm a fan of free markets. No bailout is the right thing morally to do.

Now, do you want to live with Obama as pres and a much bigger house and senate majority if there is no bailout and the financial structure heads south and all we hear for the next 45 days is how Republicans don't "care about the little guy?"

I don't see how we get out of this without either a financial meltdown or a political meltdown. We get one or the other.

7 posted on 09/24/2008 2:02:18 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: counterpunch

Woo hoo!! Block this socialist Obamination!!


8 posted on 09/24/2008 2:02:25 PM PDT by Jim Robinson
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To: ilgipper

And that would be . . . .


9 posted on 09/24/2008 2:02:45 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: ilgipper

The free market version is to let the market find the actual value of these securities, not the Treasury Dept.


10 posted on 09/24/2008 2:03:04 PM PDT by Boiling Pots (Old and Busted: Barack 0bama, New Hotness: Sarah Palin)
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To: counterpunch
Good.

700 billion dollars is just 3.5 percent of the 20 trillion dollar worldwide investments -- or about 12 percent of U.S. investments, I believe.

Let the market sort 'em out!

Congressional sappy-headed hoaxes are to blame also.

Let the voters kick 'em out!

11 posted on 09/24/2008 2:03:07 PM PDT by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: counterpunch

I’ll bet: Boner, Shays, Shelby, and ...


12 posted on 09/24/2008 2:03:38 PM PDT by evets (beer)
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To: counterpunch

I guarantee Boehner is one supporting it. Before FR crashed this morning I posted that I had called his office to urge them to not sign this measure without major provisions, if at all. I told the guy that the base was going to be in an uproar if they allow credit cards,car loan default,college loans, etc. to be added! Blah,blah,blah.

The kid said our economy was going to meltdown if we did nothing..thanked me for my call and hung up on me in mid sentence!


13 posted on 09/24/2008 2:04:03 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: Boiling Pots
I wonder how many can be bought off with an earmark?

It's not just members of Congress being bought off...

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.

Alexis de Tocqueville

God help us.

14 posted on 09/24/2008 2:04:06 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: Jim Robinson

Another Freeper called it Barrystroika.


15 posted on 09/24/2008 2:06:02 PM PDT by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: counterpunch

Senate Pubbies met with Cheney, et al, yesterday.

They apparently give the Admin reps an ear-full.


16 posted on 09/24/2008 2:06:17 PM PDT by TomGuy
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To: LS

It would be interesting to see how many of those earthquakes and other disasters actually come if the Treasury let the market decide the value of these mortgages.


17 posted on 09/24/2008 2:06:48 PM PDT by Boiling Pots (Old and Busted: Barack 0bama, New Hotness: Sarah Palin)
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To: counterpunch

Repeal Sarbanes-Oxley, eliminate Capital Gain taxes this week, let Paulson use 150 billion to temporarily fund strapped credit market. Free market will do pull us out of the mess more quickly than Paulson proposal.


18 posted on 09/24/2008 2:07:38 PM PDT by Mogollon ($5/gal Gas....Kick the Jacka$$es Out!)
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To: LS

I agree. We are between a rock and a hard place. Whatever the bailout, taxpayers must be reimbursed with tax credits or rebates whenever the economy recovers. No taking of the earnings and “spending” them on taxpayer “benefits.”


19 posted on 09/24/2008 2:07:39 PM PDT by StraightDave (.)
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To: Blogger

Boehner is one of those trying to rush this thru now...I am almost certain of it. We all appreciate his leadership on the oil debate...however, Mike Pence was the true leader on that and now on this!

Mike Pence represents my views much better than Boehner anyway.


20 posted on 09/24/2008 2:07:48 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: counterpunch
I'm glad the horrible plan may not get passed into law. However, I'm wondering what John McCain could possibly be thinking with suspending his campaign to address this issue.

This issue is not going to get addressed quickly. There isn't that much time before the election.

Democrats have little incentive to work with Republicans to come up with a more acceptable plan when stalling makes McCain look ineffective.

What recent historical precedence would make McCain think that Democrats would put aside politics to address a an emergency that could seriously harm our nation? The Democrats control congress. They control what gets debated and when. McCain gets one vote in the Senate. He can work with others to put forth a bill to address the issue, but the Democrats don't even have to vote bring it up for a vote, and can instead bring up votes on versions that the Republicans will find unacceptable, but the Republicans will be pressured to support them so that McCain can claim that his leadership helped move things forward and he can get back to campaigning.

He's entering into a fight where the Democrats have far too much control of the rules, and all they have to do is delay while Obama campaigns and McCain doesn't.

Is the man completely insane?

21 posted on 09/24/2008 2:07:48 PM PDT by untrained skeptic
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To: LS

Larry, I can’t see this bailout being a good thing. If banks get the insulation from their bad debt, they will be very quick to pull the trigger on foreclosures so the taxpayer will take over the “asset.” Then we have the scenario of having bailed out the fat cats while regular folks are thrown out of their homes coming into elections. And later, when the government fire-sales the repos, how does that help sagging housing prices?


22 posted on 09/24/2008 2:08:24 PM PDT by Sgt_Schultze
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To: mewzilla

Many of our Founding Father+s voiced this fear.


23 posted on 09/24/2008 2:08:43 PM PDT by Resolute Conservative
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To: counterpunch
There are some good people, (Kudlow, Cramer, and Forbes for instance) that support this plan.

If The Rs don't want it, that's fine but they had better have an alternate plan ready to go and then sell it.

24 posted on 09/24/2008 2:09:00 PM PDT by Conservativegreatgrandma
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To: Blogger

Politicians are people, they unwisely follow the bandwagon.

This “plan” has all the hallmarks of a Bush quickie bad deal. The rush to scare, intense media play over the weekend, and most importantly, the synchronization of key banking Democrats Schumer, Dodd and Barney Bank to make it seem bipartisan.

But that is only a p.r. pitch. Schumer, Dodd, and Barney Bank are the leaders of the Democrat Wall Street financier party. The Democrats have been the party of Wall Street Finance since the 1980’s. The white liberal news media, however, plays up the Democrats as not being the party of fat cats but people. To keep this facade Schumer, Dodd, and Bank pretended they wanted extra protections for poor people, “Main street”, but that’s a ruse, those are really bailouts of banks and there already this year was a $300 billion such deal signed by Bush.

I think Bush blew it, again, like with Comprehensive Immigration Reform, by asking for way too much, and having Paulson-part of the problem, not the solution, and deeply conflicted in interest—pitch the deal. The proposed bill was so open, so daring, it read like those bills and plebicites Hugo Chavez offers and even his own party rejects. That one would give Paulson 700 billion or more, without restrictions, and without the threat of criminal investigation of his own acts, was mind-boggling.

But, apparently, it is not without precedent. I heard the Fannie Mae execs were also shielded from criminal liability.


25 posted on 09/24/2008 2:09:45 PM PDT by Shermy
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To: counterpunch

Well, who are these 4? They need to get with the program.


26 posted on 09/24/2008 2:09:45 PM PDT by Plutarch
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To: counterpunch

This is good news.


27 posted on 09/24/2008 2:10:39 PM PDT by Silly (www.QuestionOthority.com)
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To: evets

Shays, Shelby, Chafee, Snowe, Hagel, Leache, Boner?


28 posted on 09/24/2008 2:10:40 PM PDT by evets (beer)
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To: Sgt_Schultze
Look, I completely agree about the FINANCIAL and economic issues here. My concern is that we are going to pay a huge price politically, and there may not be a free market to 'save' if Obama has four years at this.

That said, I'm not sure McCain is the right captain of the U.S.S. Economy, either.

Just remember people, the last time a Republican was saddled with a depression, we didn't get rid of the Democrats for 20 years and untold damage to the economy.

29 posted on 09/24/2008 2:10:58 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: StraightDave

Amen.


30 posted on 09/24/2008 2:11:22 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: counterpunch

we need to get all abord for the world wide depression


31 posted on 09/24/2008 2:11:38 PM PDT by woofie
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To: Boiling Pots
As I say, there is no good solution. Do you really want to be explaining to your neighbors the value of the free market if these things all go bust and we have 10% unemployment?

I said months ago that whoever took over was going to be saddled with a recession. I didn't think it would hit quite this quickly.

32 posted on 09/24/2008 2:12:44 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: Conservativegreatgrandma

Kudlow?

The guy is a Wall Street trickster on the Conservative side.
He always plays the “freeeedom” card to remove protecting regulations, always plays the “economy” card to bail out gazillionaires who made their money via the removed regulations.


33 posted on 09/24/2008 2:12:52 PM PDT by Shermy
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To: potlatch



34 posted on 09/24/2008 2:12:56 PM PDT by devolve ((((((((((((((((Trust A Cokehead With The Economy?))))))))))))))
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To: untrained skeptic

What needs to happen in the Senate is Mitch McConnell should step aside as GOP Leader, and McCain should be made Majority Leader, with the help of Joe Lieberman and a tie-breaking vote from Dick Cheney.

Then McCain should take charge of the effort in the Senate.


35 posted on 09/24/2008 2:14:09 PM PDT by counterpunch (Jim Jones was a Community Organizer)
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To: counterpunch

After listening to all the networks, I’m suprised people have’nt been running on the banks...IMO this is a chicken little situation and the Pubs are in a tough spot. I feel if they don’t resolve this NOW we will lose this election, if we have’nt already.


36 posted on 09/24/2008 2:14:10 PM PDT by hope
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To: Plutarch

Why don’t the campaigns flip the dates and places of their counterpart debates? Have Palin/Biden meet in Mississippi on Friday night and have their debate first? Then, have Obama and McCain meet on Oct 1st and also have more time to explain to us what is taking place in Washington? I’d rather wait 5 days and hear about what’s been going on then hear candidates blab on about stuff they need to be participating in.


37 posted on 09/24/2008 2:15:28 PM PDT by princess leah
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To: counterpunch

I believe that banking institutions are more dangerous
to our liberties than standing armies.
If the American people ever allow private banks to
control the issue of their currency, first by inflation,
then by deflation, the banks and corporations that will
grow up around [the banks] will deprive the people of
all property until their children wake-up homeless on
the continent their fathers conquered.
The issuing power should be taken from the banks and
restored to the people, to whom it properly belongs.

Thomas Jefferson, Letter to the Secretary of the Treasury
Albert Gallatin (1802)


38 posted on 09/24/2008 2:16:05 PM PDT by HuntsvilleTxVeteran (Obama and ITS thugs are made paranoid by Sarahnoia. (stole from molly_jack2007))
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To: LS

“Just remember people, the last time a Republican was saddled with a depression”

I don’t see why we should feel that. Who is telling us that?

Bush—not credible.

Paulson—totally conflicted.

Bernanke—I like him, but he was pushed to change on other issues.

Democrats—tool of the Wall Street banks and credit card cos.

Where’s the proof?

Could this be because all the traders went “short” and this is going to stave off the economic realization of those claims?


39 posted on 09/24/2008 2:16:30 PM PDT by Shermy
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To: LS

“Just remember people, the last time a Republican was saddled with a depression”

I don’t see why we should feel that. Who is telling us that?

Bush—not credible.

Paulson—totally conflicted.

Bernanke—I like him, but he was pushed to change on other issues.

Democrats—tool of the Wall Street banks and credit card cos.

Where’s the proof?

Could this be because all the traders went “short” and this is going to stave off the economic realization of those claims?


40 posted on 09/24/2008 2:16:41 PM PDT by Shermy
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To: hope
I’m suprised people have’nt been running on the banks..

Note to Bernanke: Looks like you'll have to drop a bigger hint.

41 posted on 09/24/2008 2:16:44 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: Blogger

“John Boehner is a good guy”

I’m not sure any of them are **GOOD** guys or gals....this last couple of weeks, anyway.


42 posted on 09/24/2008 2:17:13 PM PDT by wolfcreek (I see miles and miles of Texas....let's keep it that way.)
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To: counterpunch

Hopefully, the majority of the Republicans in the Senate will be against it, too, and they can filibuster it to death.


43 posted on 09/24/2008 2:18:15 PM PDT by Jim Robinson
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To: Jim Robinson

Hopefully McCain won’t come out on George Bush’s side.


44 posted on 09/24/2008 2:19:28 PM PDT by counterpunch (Jim Jones was a Community Organizer)
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To: counterpunch

Thanks for posting. Extremely interesting. Where’s Pat Paulson when you need him? /sarcasm


45 posted on 09/24/2008 2:19:36 PM PDT by PGalt
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To: Conservativegreatgrandma
(Kudlow, Cramer, and Forbes for instance

Hmmmm, all Wall Street types. Do you really think they would be against something that stands to be one of the biggest handouts to millionaires/billionaires in history? Asking those who got us into this mess with their unconstrained greed to come up with a solution is downright stupid. It is also stupid to believe the incredible "the sky is falling" scare tactics these same grifters are pushing to force us to give them the money quickly, without thinking.

NO!

46 posted on 09/24/2008 2:21:28 PM PDT by Prokopton
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To: Shermy

If you really believe that a Republican in the White House will NOT get the blame, no matter what reality is, then you’re drinking kool aid. McCain’s numbers already turned down based on last week’s financial unrest.


47 posted on 09/24/2008 2:21:34 PM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: Prokopton

What is your plan to get out of this mess.


48 posted on 09/24/2008 2:23:42 PM PDT by Conservativegreatgrandma
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To: LS

Well, if was looking out for Number One, and considering the position I’m in (I rent, 99% of assets are highly liquid), inflation is my enemy and a continuing decline in the prices of equities and real estate means I can buy once we bottom out.

A crash, frankly, would benefit me in the long run.


49 posted on 09/24/2008 2:24:10 PM PDT by Boiling Pots (Old and Busted: Barack 0bama, New Hotness: Sarah Palin)
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To: Jim Robinson

From the 2008 Republican Party Platform, ratified only a few short weeks ago:

“We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all.”

We’ll soon see if the Republicans stand for what they say or not.


50 posted on 09/24/2008 2:24:31 PM PDT by LadyNavyVet
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