Posted on 10/01/2008 8:49:07 AM PDT by NormsRevenge
WASHINGTON -- Conservative Republicans stole the spotlight with their opposition to the $700-billion financial rescue plan that fizzled in the House Monday, but they had help from a slew of liberal California Democrats who joined them to defeat the bill.
Those Californians found themselves in the unfamiliar position of not only standing with some of the most staunchly conservative Republicans in the House, but also voting against a traditional ally, House Speaker Nancy Pelosi (D-San Francisco), who campaigned tirelessly for passage.
Among the 14 California Democrats refusing to endorse the bailout plan were Southern Californians, including Reps. Adam B. Schiff of Burbank and Brad Sherman of Sherman Oaks, and Bay Area lawmakers, including Reps. Pete Stark of Fremont and Lynn Woolsey of Petaluma.
The rebellion divided these Californians from colleagues who usually hold virtually identical political views: 18 California Democrats stood with Pelosi to back the bill.
Most of those who opposed the rescue package -- a group that included more than half the members of the Hispanic and black caucuses -- complained that it tilted too sharply toward helping Wall Street and rich investors and did too little for average workers and homeowners struggling in the sagging economy.
(Excerpt) Read more at latimes.com ...
*Any* “bailout” is a bad idea, because *every* “bailout” plan is designed to encourage more of the same (credit to the uncreditworthy) behavior that got us here in the first place.
you can tell it’s a bad idea if both sides of the most polarized political spectrum in American history agree.
Most of those who opposed the rescue package -- a group that included more than half the members of the Hispanic and black caucuses -- complained that it tilted too sharply toward helping Wall Street and rich investors and did too little for average workers and homeowners struggling in the sagging economy.They're not against robbing Peter to pay Paul per se... they wanted it to go to a different Paul!
Kind of reminds you of what they said about Social Security.
A really scary example of Sun Tzu’s “the enemy of my enemy is my friend”...
Colonel, USAFR
bump
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