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Barney Frank and Chris Dodd??? LOL
Posted on 10/02/2008 1:37:30 PM PDT by Mr Fuji
WASHINGTON - Desperate to avoid another market-crushing defeat, House leaders won key converts Thursday to the $700 billion financial industry bailout on the eve of a make-or-break second vote.
President Bush and congressional leaders lobbied furiously for the dozen or so supporters they'd need to reverse Monday's stunning setback and approve a massive rescue plan designed to stave off national economic disaster.
(Excerpt) Read more at news.yahoo.com ...
Must not have been enough globull warming pork in the first one.
I think we're getting conned!
AP’s true colors showing in the comment “market crushing defeat.”
Funny, but the market doesn’t look crushed to me, although it did drop almost 400 points the day after our Senate whores passed their bill.
If this is an emergency, then why the pork? You’d think it could stand on its own. That’s how you know its a “trick” ... I asked my local bank for a loan this afternoon for a new house ... their answer? 20% down and I can have as much as I want by Friday. Where’s the problem?
Don’t worry everybody!!! Most if not all our senators and congressmen will get OUR money back in the form of donations and kickbacks!/s
Careful now with that charachterization; at least “whores” have some principles.
That’s what makes this bill so damned despicable!
The pork! The earmarks! The irrelevant BS!
How freaking hard can it be to pass a bill that stands on its own with nothing attached to it?
Is that the only way DC (regardless of who’s in charge) can get anything done - by turning every bill into a bastardized version of a Christmas tree?
Unless there is a revolution to stop it, it will take one to bring the Country back, it's over.
Barney Frank and Chris Dodd??? LOL
I called Tom Feeney’s office here today in Florida and he voted no on the bill. He even sent out a recorded call to all of us in advance of the vote saying he will not vote for the bail out. We did not have to call him. I told him to please continue to vote no and we are all so thankful to him for standing up to the pressure. The lady who answered the phone said they have been getting phone calls like crazy against the bill. Feeney is very conservative and has a statement about the bailout bill on his site. (below) HE IS AGAINST IT.
http://www.house.gov/feeney/financial-crisis.shtml
Wall Street Journal
POTOMAC WATCH
SEPTEMBER 19, 2008
http://online.wsj.com/article/SB122178430722754827.html
How to Campaign
In a Financial Crisis
By KIMBERLEY A. STRASSEL
“I come today to speak on behalf of the forgotten man, and that includes some 50% of Americans that either own their home, or are renting . . . the 95% of homeowners that are making their payments on time . . . the 99% of Americans that did not behave irresponsibly . . . that ultimately will pay the price for this bill.”
John McCain? Dream on. Those were the words of Florida Rep. Tom Feeney in May, as the House considered a housing bailout. If the flustered McCain campaign is looking for pointers on how a principled conservative can politically weather a financial storm, it might make a study of this Sunshine State Republican.
Especially given Sen. McCain’s misguided response to this week’s financial meltdown. Taking a cue from Hillary Clinton, he’s gone populist, railing against “failed regulation, reckless management and a casino culture on Wall Street.” He’s offered no other explanation for how the U.S. got into this mess. He’s signed on to pretty much every Washington bailout.
Mr. McCain has, in short, yielded to every temptation faced by a Republican in a financial crisis. Government largely created this mess, yet in a bid to look proactive he’s calling for more government. Markets by necessity have winners and losers, yet he feels the need to offer aid to Americans who made bad bets. Voters are intelligent enough to have a serious financial story explained to them, yet Mr. McCain blames Wall Street.
Mr. Feeney might well be tempted to also indulge in this game. The three-term congressman, one of the most conservative members of the conservative Republican Study Committee, is fighting one of the toughest re-elections in the country. House Democrats have targeted his central Florida district for their “red-to-blue” program, and are pouring money into the campaign of former state Rep. Suzanne Kosmas. Mr. Feeney may be outspent 3 to 1, in a district with a rising number of independent and Democratic voters.
It’s a district acutely sensitive to today’s crisis. It has only 4% of the state population, but 7.5% of the Floridians who have called the government’s mortgage hotline are Mr. Feeney’s constituents. The area’s many retirees are watching the plunge in the stock market with dread.
Yet on the stump, in speeches and on the floor of the House, Mr. Feeney strives to provide voters with a narrative for how the U.S. reached this crisis. It begins and ends with government. He explains it was the Federal Reserve that eased interest rates, which led to easy money and inspired banks and mortgage firms to borrow more and take riskier bets. He notes it was politicians who created beasts like Fannie Mae and Freddie Mac, pressured them to provide more credit to subprime borrowers, passed legislation allowing them to ramp up their liabilities, and guaranteed their mistakes. Easy-money Fed policy led to a weak dollar and today’s inflated cost of groceries and gas. “This isn’t a free market collapse,” he says. “Most of this was caused by mismanagement of government.”
Which leads naturally to Mr. Feeney’s other theme, that today’s rush to government action will make things worse. He voted against the housing bailout, using his “forgotten man” speech to redirect attention to the many responsible Americans who would have to pay for the mistakes of housing speculators and imprudent borrowers. Yesterday, he joined RSC members in a press conference to warn that more government bailouts will only encourage companies to continue excessive risk-taking, prolong the agony, and leave taxpayers to pay the bills.
Mr. Feeney’s narrative has meanwhile laid his groundwork for the broader economic debate. Nothing would hurt the economy right now more than growth-stifling tax hikes, yet Mr. Feeney notes that’s what his Democratic opponent would do. He has railed against Democrats’ protectionist opposition to more free trade, given trade’s outsized role in sustaining today’s economy. He warns that excessive regulation will further drive capital out of the country, just when we need it most. He is pushing for offshore drilling, even as fellow Florida Republicans duck the issue.
So what fate awaits the politician who refuses to pander? Who doesn’t attack industry, or argue for sweeping government action? Mr. Feeney has suffered no calamitous drop in the polls. His favorability ratings remain consistent. In fact, despite Ms. Kosmas throwing everything and the kitchen sink at him — including an age-old trip with Jack Abramoff — the Republican is highly competitive, and feeling optimistic.
Mr. Feeney says that even if he were spooked, he’d take the same course. “Demagoguery is good short-term politics, but terrible long-term policy — and bad economic policy will ultimately catch up with you.”
Camp McCain?
Write to kim@wsj.com
Please add your comments to the Opinion Journal forum.
The RINOS are sprinting towards the feeding trough.
We don’t know the real reasons this is being done. We won’t know for another 25 years or so, when Chinese historians tell us how China gained world economic hegemony by triumphing over America.
The Dow finished down 348.22 today at 10,482.85.
Ros-Lehtinen has taken all her phones off the hook.
So do I!!!
I think plans for this thing were set in motion months ago, including Pelosi Galore’s angry speech and blaming IT for the bill’s failure to pass the House.
I hate to admit it, but this financial mess is draining all the oxygen out of the political room... and is the reason for McCain’s losing momentum, I believe.
With that in mind, and I hate to be so shallow, I would just as soon Congress do what the hell they are gonna do, and let the campaigns get back to normal campaigning.
Because Obama is happy to hide behind this ‘bail out’ baloney, and will continue to do so until Nov. 4 unless McCain can break through the mainstream media blockade of financial doom and gloom.
I have to believe there is some damaging stuff on Obama, and it would never get through the mainstream blockers as long as this credit crunch keeps hogging all the headlines.
So pass this bail out already, and let McCain and Sarah get back to telling the truth about the anti-American, terror loving, economy crushing Obama loony campaign.
I sure hope their kickbacks are worth more than my vote next time around because they’re not getting it.
I’m suggesting we all fill out a change of address for all of our credit card accounts to 1600 Pensylvania Ave, Washington, DC. Let the White House use everyone’s taxes to pay the things off like they’re doing for the mortgagees and the company CEO’s.
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