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Why I Oppose the Bailout (Mike Pence says NO- just published!)
Human Events ^ | 28 September 2008 | Representative Mike Pence

Posted on 09/28/2008 10:53:41 AM PDT by SE Mom

Dear Colleagues,

Our nation has been confronted by a serious crisis in our financial markets. The President and this Congress were right to act with all deliberate speed in addressing this crisis.

We now have a deal that promises to bring near term stability to our financial turmoil, but at what price?

Economic freedom means the freedom to succeed and the freedom to fail.

The decision to give the federal government the ability to nationalize almost every bad mortgage in America interrupts this basic truth of our free market economy.

Republicans improved this bill but it remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector, and passes the cost along to the American people. I cannot support it.

Before you vote, ask yourself why you came here and vote with courage and integrity to those principals.

If you came here because you believe in limited government and the freedom of the American marketplace, vote in accordance with those convictions.

Duty is ours, outcomes belong to God.

We have fought the good fight. Now we need to finish the race and make sure that posterity and the American people know there were conservatives who opposed the leviathan state in this dark hour.

And if you do this I promise you, I will stand with you and, I believe with all my heart, the American people will stand with you as well.

Mike Pence


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: 110th; bailout; humanevents; mikepence; pence; wallstreet
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Hot off the presses!
1 posted on 09/28/2008 10:53:41 AM PDT by SE Mom
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To: Jim Robinson; holdonnow; STARWISE; AliVeritas; Dog; Bahbah; penelopesire; pissant; Miss Didi

Breaking, ping!


2 posted on 09/28/2008 10:54:50 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: SE Mom

Good for Mike Pence!


3 posted on 09/28/2008 10:55:18 AM PDT by SumProVita ("Cogito ergo sum pro vita." .....updated Descartes)
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To: SE Mom

God bless Mike Pence, and house Republicans. The vote will be interesting. I wonder if 0bama, the gutless wonder, will vote present, you know, to hedge his bet.


4 posted on 09/28/2008 10:55:21 AM PDT by ABQHispConservative
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To: SE Mom

Another “Republican” I can support

Pence + McCotter = 2....

McCain = 0 (unless he opposes the bailout)


5 posted on 09/28/2008 10:55:22 AM PDT by GreaterSwiss
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To: SE Mom

So there still needs to be a vote? I thought this was a done deal.


6 posted on 09/28/2008 10:55:50 AM PDT by EQAndyBuzz (McCain/Palin 2008)
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To: SE Mom

House Republicans should hold back on voting until enough Democrats have voted to pass it, then vote against it en masse.


7 posted on 09/28/2008 10:56:05 AM PDT by counterpunch (Jim Jones was a Community Organizer)
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To: demoskowitz

McCain should miss the vote.


8 posted on 09/28/2008 10:57:15 AM PDT by counterpunch (Jim Jones was a Community Organizer)
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To: EQAndyBuzz

It may BE a done deal- but our guys are not going to be part of the “dunning”... ;)


9 posted on 09/28/2008 10:57:24 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: demoskowitz
McCain = 0 (unless he opposes the bailout)

If you don't know, don't say it. There is enough dissing going around.

10 posted on 09/28/2008 10:58:13 AM PDT by madison10 (Pray for the brave Republicans in Congress...)
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To: counterpunch
House Republicans should hold back on voting until enough Democrats have voted to pass it, then vote against it en masse.

You're assuming that there are two little round nuts in the Underoos they are wearing.

11 posted on 09/28/2008 10:58:36 AM PDT by IllumiNaughtyByNature (I Love The Smell Of Schmidt Storm in the Morning...and Afternoon....and at Night!!!!!)
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To: SE Mom

“The duty is ours; the consequences belong to God.”

- Stonewall Jackson


12 posted on 09/28/2008 10:58:54 AM PDT by savedbygrace (SECURE THE BORDERS FIRST (I'M YELLING ON PURPOSE))
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To: SE Mom

WOW! A backbone....how refreshing!


13 posted on 09/28/2008 10:59:36 AM PDT by ladyvet (WOLVERINES!!!!!)
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To: SE Mom

Thank God there are a few Republican who still fight for America and conservative values.

No to the Bush-Goldman Sachs bailout!


14 posted on 09/28/2008 11:00:27 AM PDT by Comparative Advantage
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To: NoGrayZone; mewzilla; seekthetruth

ping


15 posted on 09/28/2008 11:00:51 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: ABQHispConservative

I’m sure Nancy Boyda (D-KS) will vote against this bill since Republicans have agreed to provide her cover. Then she can come home and claim she is a conservative in her tough re-election fight.


16 posted on 09/28/2008 11:00:54 AM PDT by KansasGirl (READ MY LIPSTICK!!!)
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To: counterpunch

you can’t vote present in a crisis


17 posted on 09/28/2008 11:01:39 AM PDT by ari-freedom (Just let Sarah be Sarah!)
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To: SE Mom

18 posted on 09/28/2008 11:01:53 AM PDT by narses (...the spirit of Trent is abroad once more.)
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To: SE Mom

From this, I take that both Mike Pence and Ron Paul will correctly vote against this. It will truly be very disappointing, if many of the remaining truly conservative members in both the House and Senate do approve of this bailout measure. What’s truly the next move for conservatives, if the bailout legislation passes without truly getting everything that conservatives needed to get included in this legislation? I’m beyond sick and tired of conservatives “caving in” to leftists on too many issues for too many years!


19 posted on 09/28/2008 11:02:28 AM PDT by johnthebaptistmoore (Vote for conservatives AT ALL POLITICAL LEVELS! Encourage all others to do the same on November 4!)
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To: counterpunch

Lol. The President can’t vote present.


20 posted on 09/28/2008 11:03:13 AM PDT by BGHater (Democracy is the road to socialism.)
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To: counterpunch

That is what I wish, but it will not happen.


21 posted on 09/28/2008 11:03:25 AM PDT by KansasGirl (READ MY LIPSTICK!!!)
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To: ari-freedom

Actually, this might not get as far as the Senate according to the reports of continues House GOP resistance.


22 posted on 09/28/2008 11:03:35 AM PDT by counterpunch (Jim Jones was a Community Organizer)
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To: SE Mom

God Bless Mike Pence!


23 posted on 09/28/2008 11:04:19 AM PDT by Gritty (All employed in places of power and trust must be men of unexceptionable characters-Samuel Adams)
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To: SE Mom

Do we know who in the house and senate oppose the bill?


24 posted on 09/28/2008 11:05:45 AM PDT by luckystarmom
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To: SE Mom

BAIL OUT
BEFORE
PROSECUTION OF CRIMES
IS A PARDON!


25 posted on 09/28/2008 11:05:59 AM PDT by PaxMacian
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To: SE Mom
The bill may have improvements but its not enough to get rank and file House Republicans like Mike Pence behind it. It still asks the taxpayers to pay for a mess they did not create. Its still a bailout and no amount of work to dress it up changes that fact. All the powers that be are lined up for it. The House GOP may be able to stop it if they withhold support for it. Otherwise its going through Washington like lube into a gasket. Hold onto your wallets! The $350 billion is just a down payment on what's coming!

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

26 posted on 09/28/2008 11:06:39 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: SE Mom
A NO vote is a PATREOTIC Vote.

By the way, why are the Republicans not patriotic for not coming to the table per Pelosi but Obama gets a pass by not even being in DC?

27 posted on 09/28/2008 11:06:46 AM PDT by CHEE (Stink, Steam and All)
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To: SumProVita

Mr Pence,
Welcome to the New World Order. Freedom and liberty not required. Shortly there will be no difference between France and America


28 posted on 09/28/2008 11:07:01 AM PDT by SECURE AMERICA (Vote FOR AMERICA . Vote McCain / Palin)
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To: SE Mom

I’m in Anderson, IN working today, paying some bills...will swing by his offices and express my support, if anyone’s there, I doubt it.
Mike Pence is a standup conservative, unlike some who would spread Kiwi shoe polish on their fields and shine their shoes with ____.


29 posted on 09/28/2008 11:07:54 AM PDT by tumblindice (don't tread on me)
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To: counterpunch

>McCsin should miss the vote.<

If he would vote for it, he should certainly miss it. If he votes for it, he will lose the election.


30 posted on 09/28/2008 11:08:03 AM PDT by Paperdoll (Duncan L.Huntr for Secretary of Defense!)
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To: luckystarmom

Not really. However, we DO know the Senate GOP leadership seems much more amenable to the bill than our House GOP guys.


31 posted on 09/28/2008 11:08:33 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: SE Mom
Mike Pence is a true American hero. Now is the time to bite the bullet. Pain is coming big time to our financial system, to our savings, and to our whole economy...but that pain was inevitable once we started going down the Fiat money road in 1913 with the creation of the Central Bank (Fed)....our money = debt system is doomed and better to take the massive hit now than later....we owe it to our grandchildren to be the ones who suffer.....we all had a good run the last 20,30,40,50 yrs.......lets end this monster right now and take the hit and start remaking our country as the Constitutional Republic with honest money our founders intended....anyway, we have no choice..this system will be destroyed today or tomorrow...IMHO bring it on now !.......as Reagan once said “ If not us, who? If not now,when"?
32 posted on 09/28/2008 11:10:16 AM PDT by mick
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To: SE Mom
>>>>>Republicans improved this bill but it remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector, and passes the cost along to the American people. I cannot support it.

Well said. I'll stand with Mike Pence.

33 posted on 09/28/2008 11:10:40 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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To: SE Mom

So where were all these republicans when bills were introduced 3+ years ago to reign in CRA, Freddie & Fannie...in a Republican controlled congress? I’m not being snarky...I truly would like to know where they were and what their votes were.


34 posted on 09/28/2008 11:11:14 AM PDT by tsmith130
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To: SE Mom
Now who ya' gonna' listen to? Obambi, Bush, Frank and McQueeg?

Or an honest broker like Pence?

35 posted on 09/28/2008 11:12:37 AM PDT by E. Cartman (Welcome to The People's Republic of Wall Street.)
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To: tsmith130

You are exactly right. These Republicans should have stepped up soon, however, they would have been ignored. Bush was the one in a position to communicate to the American people what was coming. For some reason he chose not to, until it was too late. He should have exposed this corruption long ago. In his defense, he did take on Social Securtiy and didn’t get far.


36 posted on 09/28/2008 11:18:31 AM PDT by KansasGirl (READ MY LIPSTICK!!!)
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To: ABQHispConservative
"God bless Mike Pence, and house Republicans. The vote will be interesting. I wonder if 0bama, the gutless wonder, will vote present, you know, to hedge his bet."

No, he'll vote for it because he gave himself an out; ie he might change it if he doesn't like it after he's elected.

POLITICO
Obama would want bailout review if elected
By: Mike Allen
September 28, 2008 09:39 AM EST

Hours after a tentative congressional agreement on a mortgage bailout program, Sen. Barack Obama (D-Ill.) said Sunday morning that he is likely to support it but might seek changes in the program if he is elected.

“If elected President, I will order a thorough review of this plan to make sure that it fully lives up to the principles I've laid out,” Obama said. “And I will also move quickly to upgrade our financial regulations for the 21st century, establishing new rules of the road and tougher oversight to ensure that the American taxpayers are never again forced to put their money and their futures at risk because of bad decisions in Washington and on Wall Street.”

Suggesting he will support the plan, Obama said: “While I look forward to reviewing the language of the legislation, it appears that the tentative deal embraces [four] principles [he had advocated].”

Obama’s statement began: “The breakthrough between Congress and the Administration is the culmination of a sorry period in our history, in which reckless speculation and greed on Wall Street and lax oversight from Washington led to a meltdown of our financial markets. But regardless of how we got here, a failure to deal with the current crisis would have devastating consequences for our economy, costing millions of Americans their jobs and retirement security.

“To understand how this tentative deal was reached, it's important to remember how this all began. The Bush Administration initially asked for a blank check to respond to this problem, which I strongly opposed. It would have been unconscionable to expect the American people to hand this Administration or any Administration a $700 billion check with no conditions and no oversight when a lack of oversight in Washington and on Wall Street is exactly what got us into this mess. If the American people are being asked to pay for the solution to this crisis, their tax dollars must be protected.

“That is why over the past ten days, in conversations with the President, Secretary of Treasury and leaders of Congress, I laid out the four core principles I believed had to guide any solution: oversight by an independent board; protections for taxpayers to ensure that they are treated like investors and that they receive any profits - and recoup any losses - from this plan; measures to help homeowners stay in their homes; and rules to make sure CEOs are not being rewarded at taxpayers' expense. While I look forward to reviewing the language of the legislation, it appears that the tentative deal embraces these principles.

“When taxpayers are asked to take such an extraordinary step because of the irresponsibility of a relative few, it is not a cause for celebration. But this step is necessary. Now Washington has to show the same sense of urgency in dealing with the crisis facing Main Street and the middle class by passing an emergency economic stimulus plan that would create jobs by rebuilding our crumbing roads; shore up flagging state budgets to prevent drastic cuts in education and health care; and extend expiring unemployment insurance benefits for those who've lost their jobs in this downturn and cannot find new ones.”

Here are some elements of the plan, as provided by House Republicans to highlight changes they had negotiated:

­Requires the establishment of an insurance guarantee program that in lieu of purchasing assets with taxpayer funds is available to insure assets at no cost to the taxpayer. Costs would be fully paid for by participating companies (i.e. those receiving the assistance). Assets insured by the program would count against the total funds the Secretary would otherwise have available to make purchases.

­If after five years, the government has a net loss as a result of the purchase program, the President is required to submit a proposal to recoup those losses from the entities that benefited from this program.

­ Establishes a bipartisan Congressional Oversight Panel.

­Established a Special Inspector General to monitor the program.

37 posted on 09/28/2008 11:19:03 AM PDT by Matchett-PI (2008 = The Year of the Toilet (for 'rats))
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To: KansasGirl

bttt


38 posted on 09/28/2008 11:20:30 AM PDT by ConservativeMan55 (Obama is the Democrats guy. They bought the ticket, now they must take the ride.)
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To: SE Mom
And if you do this I promise you, I will stand with you and, I believe with all my heart, the American people will stand with you as well.

When the American people feel any economic discomfort they will be looking for scapegoats.

The Dems(socialists)will have the Lamestream Media to help them pin the blame on the Republicans.

The Republicans should be getting ready for that fight and to get the facts out to the public. - Tom

39 posted on 09/28/2008 11:20:44 AM PDT by Capt. Tom (Don't confuse the Bushies with the dumb Republicans - Capt. Tom)
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To: SE Mom

Good for Pence. Stand strong, GOP!


40 posted on 09/28/2008 11:21:56 AM PDT by Antoninus (Ignore the polls. They're meant to shape public opinion, not measure it.)
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To: johnthebaptistmoore
I’m beyond sick and tired of conservatives “caving in” to leftists on too many issues for too many years!

The entire point of this and many other stories posted today is that the conservatives are NOT caving. Are we on FR so eager to complain that we will now do so before given valid cause?
41 posted on 09/28/2008 11:22:07 AM PDT by Terpfen (Romney's loss in Florida is STILL a catastrophe. Hello, McCandidate!)
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To: Matchett-PI

The man has no guts, no class and no integrity. He’s a slimy, con-man puppet from Chicago


42 posted on 09/28/2008 11:22:18 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: SE Mom

But if they don’t pass this bill think of all the H1B visa-holders who will lose their jobs(!)


43 posted on 09/28/2008 11:22:56 AM PDT by The Duke (I have met the enemy, and he is named 'Apathy'!)
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To: demoskowitz

Scrolling back through your posts, it is difficult to discern at what point you were for McCain : |

Tatt


44 posted on 09/28/2008 11:24:10 AM PDT by thesearethetimes... ("Courage, is fear that has said its prayers." Dorothy Bernard)
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To: SE Mom

Finally a sane voice comes out of DC...

Bravo and Thank you Mr. Pence


45 posted on 09/28/2008 11:25:06 AM PDT by The Mayor ( In Gods works we see His hand; in His Word we hear His heart)
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To: tsmith130

Bush tried 12 times during his tenure, most notably in 2003, to reform Fannie and Freddie. The Democrats blocked him at every turn, most notably Chris Dodd and Barney Frank. Their inclusion at a high level in this bill is an insult to us all.

Educate yourself, don’t just speculate idly.


46 posted on 09/28/2008 11:25:31 AM PDT by Terpfen (Romney's loss in Florida is STILL a catastrophe. Hello, McCandidate!)
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To: Terpfen

Thank you!

BUMP

Tatt


47 posted on 09/28/2008 11:25:55 AM PDT by thesearethetimes... ("Courage, is fear that has said its prayers." Dorothy Bernard)
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To: Terpfen

Thank you!

BUMP

Tatt


48 posted on 09/28/2008 11:25:55 AM PDT by thesearethetimes... ("Courage, is fear that has said its prayers." Dorothy Bernard)
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To: SE Mom
The decision to give the federal government the ability to nationalize almost every bad mortgage in America interrupts this basic truth of our free market economy.

Not to mention what it will do the dollar...how much weaker can it get? Once again, fax or phone your elected to do nothing UNLESS the bill is CLEAN, devoid of Reid pork or any pork at all. I would like to see Franks and Dodd recuse themselves from this work AND their chairs as they are directly responsible for this crisis and should not be telling us how to fix what they broke.

Get mad - fax the White House and your elected all day and tomorrow. Please don't give up on this, they are listening.

49 posted on 09/28/2008 11:27:09 AM PDT by yoe ( Socialism/Marxism with Obama/Michelle - another twofer!)
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To: Paperdoll

I think McCain is going to have to vote for it.
He got most everything he wanted in it, and he’s said he hopes he can vote for it, that doing nothing is not an option.

And I don’t think that would be the end of the world for him.
But what he’s going to have to do after this bill is behind us is start lobbing some bombs.
He needs to call out the people and the programs responsible for this.

McCain likes to say that he’ll make pork-barrelers ‘famous’ when he’s president. He says he’s the Sheriff of the Senate. He says he’s against corruption and fraud in congress.
Well now is his chance to prove it.
He’s surrounded by corrupt politicians who caused this.
He needs to call them out, by name.
He needs to expose what they’ve done, how we got here.

He needs to stop calling the “my friend” and start calling them what they are: crooks.

We all know congress is corrupt, and its not merely because of airdropped earmarks.
McCain is going to have to go after the perpetrators and the bills that caused this, and the kickbacks and revolving door between government and Wall Street.

Right now the Democrats are telling everyone it was “Republican deregulation” and Phil Gramm who are responsible for all of this, and without any pushback from McCain and the GOP, the public has no reason not to believe them.

McCain’s problem is he thinks the public wants bipartisanship.
The truth is, bipartisanship is the problem, because of the unspoken rule that both parties protect each other... though the Democrats break that rule all the time.
What the public really wants is for someone to pull the curtain back on Washington and expose what really goes on there. McCain could do that.


50 posted on 09/28/2008 11:27:51 AM PDT by counterpunch (Jim Jones was a Community Organizer)
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