Posted on 09/24/2008 1:57:04 PM PDT by counterpunch
SOURCE: House Republicans met in am: Just 4 members support Paulson plan...
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?
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?
Many of our Founding Father+s voiced this fear.
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.
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.
Well, who are these 4? They need to get with the program.
This is good news.
Shays, Shelby, Chafee, Snowe, Hagel, Leache, Boner?
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.
Amen.
we need to get all abord for the world wide depression
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.
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.
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.
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.
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.
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)
“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?
“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?
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