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Senate to vote on bailout Wednesday (additions made by Senate)
Market Watch ^ | 10:00 p.m. EDT Sept. 30, 2008 | Ruth Mantell, Greg Robb & Robert Schroeder

Posted on 09/30/2008 8:08:08 PM PDT by Fred

The package before the Senate will be similar to the House version, with these additions, the New York Times reported in its online edition:

* The higher limit for insured bank deposits sought by the Federal Deposit Insurance Corp., which asked to raise the cap to $250,000 from $100,000, to quell opposition by individual and small-business depositors.

* Tax breaks for businesses and alternative energy, part of a package that has been caught in a stalemate in the House of Representatives. The Senate version of the gridlocked tax legislation would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power, the Times said. It would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms, according to the Times..

Senate Majority Leader Harry Reid, D-Nev., said details of the proposal wouldn't be available until Wednesday, the Times reported.

If the Senate approves the package, it would go to the House, which doesn't reconvene until noon Eastern on Thursday.

The House's rejection triggered an historic, 777-point drop for the Dow Jones Industrial Average. The Senate development comes after members of both houses went back to the drawing board Tuesday in an effort to craft a new version of rescue package for the financial markets.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Breaking News; Politics/Elections
KEYWORDS: 110th; 2008; bailout; congress; democrats; economicpolicy; economy; electionpresident; elections; fdic; financialcrisis; geopolitics; mccain; obama; obamabiden; obamatruthfile; propagandawingofdnc; reid; wallstreet
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No 700 billion dollars to anyone, stabilize the lending without it.
1 posted on 09/30/2008 8:08:08 PM PDT by Fred
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To: Fred

$100 billion on top of the $700 billion? What is going on here? Goodies for all.

This thing will end up costing a trillion with all the add ons. That will show us peons for calling to voice our complaints.


2 posted on 09/30/2008 8:14:06 PM PDT by keepitreal ("I'm Barack Obama and I approve this message. . . until I don't.")
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To: Fred
Great. Here we go again. Does any of this have anything related to the Gingrich plan? Maybe some lip service, but mostly they just want to hand over the $$$.

Better yet, one of my Senators is Bennett, you is fourth on the list for Fannie Mae and Freddie Mac contributions. Gee, I wonder what he'll support...

If anyone else wants to see how much Congresscritter has taken in from our lovely GSE's take a look here:

Open Secrets: Fannie Mae and Freddie Mac Invest in Lawmakers

3 posted on 09/30/2008 8:23:02 PM PDT by batter (Oxymoron: An Obama bumper sticker on an SUV)
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To: Fred

Turning a pig into a turkey...


4 posted on 09/30/2008 8:28:00 PM PDT by DTogo (I haven't left the GOP, the GOP left me.)
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To: Fred

I understand why American taxpayers who are actually paying attention to what happens with THEIR money would instinctively be angry.

As a Milton Friedman disciple, I’m inclined to say let Darwinian rules apply and let the chips fall where they may. Once the mushroom cloud settles, we’d all be better off.

That’s easier said than done. This is not about the EEEvilll Wall Street folks. You’ve all seen the video about the egalitarian social engineering leftists who got us into this mess by pressuring banks to loan money to the homeless (it’s right there on FR when you log on).

There is plenty of time to sort out who caused this mess. There are plenty of villains.

It’s all fun and games until you can’t get a home, car or business loan. Than it hits Main Street.


5 posted on 09/30/2008 8:30:15 PM PDT by Eric Blair 2084 (Alcohol, Tobacco and Firearms shouldn't be a federal agency...it should be a convenience store.)
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To: All
Anyone know how this is possible? I thought spending bills must originate in the House. Or is that just me letting the Constitution get in the way of Congress do whatever they want?

I would love to see what exactly is in this bill, but it sounds like we won't have much time to do so before they try to run it up for a vote. I would like to withhold judgment until I see the bill contents, but this is thing sounds like another game of pass it before anyone can read it.

Get ready to flood the Senate with calls tomorrow (at least asking WTH they're voting on).

6 posted on 09/30/2008 8:31:35 PM PDT by batter (Oxymoron: An Obama bumper sticker on an SUV)
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To: Fred; AuntB; B4Ranch; Squantos; Pete-R-Bilt; tubebender; NormsRevenge
The Senate version of the gridlocked tax legislation would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power, the Times said. It would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms, according to the Times..

What an absolute steaming pile of SOCIALIST HORSESHIT. Idiots!

7 posted on 09/30/2008 8:35:24 PM PDT by glock rocks ( Looters will be shot.)
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To: glock rocks
I wish McCain was against it but I guess this is a call for All Socialists to Stand Together.
8 posted on 09/30/2008 8:42:59 PM PDT by B4Ranch (I'd rather have a VP that can gut a Moose, than a President that wants to gut our Second Amendment!)
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To: Fred

The SOBS are not going to quit until they get what they want. I am sick of having my pocket picked by this crowd.

I am done.


9 posted on 09/30/2008 8:43:15 PM PDT by Chickensoup ('08 VOTING for the SUPREME COURT that will be BEST for my FAMILY and voting for SARAH PALIN!!!)
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To: Fred
>>>>>The proposal may make the $700 billion rescue plan more palatable to House Republicans.

OMG! These bastards are pushing through the same trash from yesterday. The House is working on their own plan, which might be very close to HR 7223.

10 posted on 09/30/2008 8:44:23 PM 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: Eric Blair 2084

I have local banks asking me to take credit cards, one today, and the husband took out a signature loan last week over the phone.

I am still ticked... I would like a tax break. And I think the bail out, yes bail out is just wrong. Heard some dude today and he is so right.... how the heck can government do an effective job at selling houses??????????????????


11 posted on 09/30/2008 8:46:37 PM PDT by libbylu
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To: All
We're in the "crisis" stage of the Socialist take-over now.

Yuri Bezmenov Interview
12 posted on 09/30/2008 8:46:58 PM PDT by JACKRUSSELL
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To: Fred

What they should propose is a $700 billion dollar tax cut split between businesses and consumers. Cut corporate tax rates, cut cap gains taxes and cut marginal tax rates. 5% reduction in government spending across the board.


13 posted on 09/30/2008 8:50:02 PM PDT by misterrob (Obama-Keep the Change!)
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To: batter

HAHAHAHAHA, that’s a funny one, since when did congress ever let a little thing like the Constitution get in the way of them doing anything they damn well please?


14 posted on 09/30/2008 8:50:29 PM PDT by Licensed-To-Carry (Time to dig out the pitchforks and torches...............)
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To: DTogo

With all the add ons it may be a donkey.


15 posted on 09/30/2008 8:51:02 PM PDT by Kackikat ( Without National Security all other issues are mute points; chaos ensues.))
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To: keepitreal
-- $100 billion on top of the $700 billion? --

Not exactly. The "cost $100 billion" phrase refers to tax reductions. It "costs" the government when the government reduces taxes. Then that $700 billion, well that's simply the purchasing of an asset that will appreciate in value and return a bonus to your children. Hopefully, you'll survive long enough that they can thank you personally. The Congress that passes this will be long gone into safe and comfortable retirement by then.

16 posted on 09/30/2008 8:51:31 PM PDT by Cboldt
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To: Fred

Of course, the Senate can not originate a spending bill, only amend one that comes from the House.

Voting to amend a defeated bill does not cause it to come back up for a vote in the House - it remains a defeated bill.


17 posted on 09/30/2008 8:53:00 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Fred

Oh goody.

Free money.

The thieves will loan more of our tax money to each other.

/s


18 posted on 09/30/2008 8:54:01 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: Eric Blair 2084

Ohhh teh noes!! I can’t live off of credit anymore!!!

Ohhh the horror!!!


19 posted on 09/30/2008 8:55:00 PM PDT by Tempest (http://www.youtube.com/watch?v=gNlXgzzdJQA)
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To: keepitreal
$100 billion on top of the $700 billion? What is going on here? Goodies for all.

They are trying to bribe the cranky public with $100,000,000 of their own future earnings in order to get the $700,000,000 of their future earnings. That is what is going on and it will probably work.
20 posted on 09/30/2008 8:58:19 PM PDT by Arkinsaw
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To: Reagan Man

Check out this section of the bill;


SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS.

The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.


This means we’ll be buying the bad loans of FOREIGNERS, not just us.

On Kudlow tonight it was revealed Paulson would not support it and Bush would veto it if it had in it a provision to stop the above from happening! Who do they represent, us Americans or some set of globalist masters?

I always thought that the rumors of globalism was tinfoil-hat material but what was tinfoil yesterday seems to be breaking news today!

We HAVE to stop this, or we’re dead as a country.

LQ


21 posted on 09/30/2008 8:59:57 PM PDT by LizardQueen (The world is not out to get you, except in the sense that the world is out to get everyone.)
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To: Eric Blair 2084
I agree that leveling the blame solely on Wall Street is short sighted, to say the least, but I don't think it is a wise idea for government to take some ownership in these companies (nationalization) and use $700 billion of our money to do so. Milton Friedman, IMO, would certainly not approve of that.

I much prefer to see Gingrich's proposal given some consideration (although it looks like the SEC is sort of addressing a part of it now). It seems that it would offer the market the tools the get out of this while not dumping 'toxic debt' on the taxpayers - the companies would have to deal with it, and setting up the market for better long-term performance by addressing our corporate tax rates, putting us on a more level global playing field.

22 posted on 09/30/2008 9:00:21 PM PDT by batter (Oxymoron: An Obama bumper sticker on an SUV)
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To: keepitreal

Tax breaks and tax credits are not “costs”! They are incentives for people to spend their own money.

Tax “rebates” to people who don’t pay taxes are costs. Tax credits are not!


23 posted on 09/30/2008 9:01:02 PM PDT by hocndoc (http://www.LifeEthics.org (I've got a mustard seed and I'm not afraid to use it.))
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To: PAR35; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; ..

The Money, Banking, and Financial Markets Ping List.

FR Keyword: moneylist

This can be a high-volume ping list at times.

To join, send Freepmail to rabscuttle385.

24 posted on 09/30/2008 9:01:31 PM PDT by rabscuttle385 (No to bailouts, no to amnesty, no to carbon credits, no to Big Government!)
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To: Fred

The president and the press insist the economy can’t live without a bailout. That is a stinking pantload! You do bad business, allow yourself to get caught up in the hype of sub-prime mortgages, and guess what? You crash and burn!! What happened is exactly what should’ve happened.

They don’t deserve $700 billion, they deserve jail if anything. I don’t care if the goobermint was pressuring them or not. Business sense should’ve steered them right. They threw common sense to the wind and got burned. I’ve got no sympathy!


25 posted on 09/30/2008 9:02:26 PM PDT by Excuse_My_Bellicosity (Never argue with idiots. They'll pull you down to their level, then beat you with experience.)
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To: libbylu
I have local banks asking me to take credit cards, one today, and the husband took out a signature loan last week over the phone.

Your local bank hasn't heard from 9% Nancy that there is a credit crunch.

26 posted on 09/30/2008 9:04:09 PM PDT by frogjerk (MSM: We will not question Obama bin Biden...)
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To: LizardQueen
>>>>>This means we’ll be buying the bad loans of FOREIGNERS, not just us.

Sure sounds like it. The Senate version of the House bailout bill is another draconian bureaucratic monstrosity.

27 posted on 09/30/2008 9:04:09 PM 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: MrEdd

They are using a loophole- http://money.cnn.com/2008/09/30/news/economy/bailout_tuesday/index.htm?cnn=yes

“Because the bill must originate in the House, the Senate is attaching the rescue plan to a bill that deals with renewable energy tax incentives. This would allow the Senate to vote before the House.”


28 posted on 09/30/2008 9:05:08 PM PDT by 1972BornFree
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To: batter

I don’t have the answer. Thank God I’m not a politician. All I know is Government caused the problem and now government has to fix it.


29 posted on 09/30/2008 9:06:48 PM PDT by Eric Blair 2084 (Alcohol, Tobacco and Firearms shouldn't be a federal agency...it should be a convenience store.)
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To: libbylu

Hmmm, I thought the credit was all dried up in this “economic crisis”. I was offered a credit card when I made a $6 purchase at Target this weekend. Same goes for JC Penney when I bought a shirt. I’m not seeing an impact on easy credit. The retail stores can’t give away them cards fast enough.


30 posted on 09/30/2008 9:07:15 PM PDT by Excuse_My_Bellicosity (Never argue with idiots. They'll pull you down to their level, then beat you with experience.)
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To: Fred

Work-out not Bail-out

Eliminates the Credit Crisis: Suspends Capital Gains Tax to immediately free up huge volumes of capital
 
Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers

Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers
· Suspends Mark-to-Market Accounting that effectively froze MBS assets from being sold and multiplied capital requirements for Banks
· Provides Loss Write-offs for MBS Sellers to price them at market and incur the losses needed to pull capital from their MBS assets now
· Requires all future MBS to meet full regulatory requirements and provide complete, transparent documentation for assessment of risk and value
 
Eliminates the Crisis Perpetrators behind Bad Mortgages and MBS Problems:
· Privatizes Fannie and Freddie GSEs to eliminate the sources of the problem and prevent Congressional kick-back schemes
· Refocuses the Fed from short-term economic growth that drove economic boom-and-busts, to long-term price stability that controls inflation and sustains the dollar
· Prosecutes Corruption and Constrain Compensation for Industry-Executive Perpetrators

Link:
http://mikepence.house.gov/UploadedFiles/RSC_Economic_Rescue_092908.pdf


31 posted on 09/30/2008 9:09:37 PM PDT by West Pointer (NEW Republican Work-out Alternative)
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To: West Pointer; Fred

The Senate version includes a provision to mandate mental health care coverage on a parity with physical health!

Once again, the politicians are covering themselves.


32 posted on 09/30/2008 9:50:50 PM PDT by hocndoc (http://www.LifeEthics.org (I've got a mustard seed and I'm not afraid to use it.))
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To: glock rocks
The House's rejection triggered an historic, 777-point drop for the Dow Jones Industrial Average.

Followed by a historic 483 point run up today!!!!!!

33 posted on 09/30/2008 9:54:10 PM PDT by tubebender (Why do we drive a on a Parkway but park on a Driveway)
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To: Fred
There must be some sort of poison in the water in the District of Columbia.

The bill failed because it had too much crap in it ... so they add more crap to get it to pass !!

(Helloo ...) anybody listening up there? Did it ever occur to you to remove stuff from the bill to get it to pass, rather than just adding more stuff ??

... yeah ... I know ... it's a dumb question.

34 posted on 09/30/2008 10:03:40 PM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
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To: Eric Blair 2084
As a Milton Friedman monetarist, you undoubtedly understand the dangers involved in the increase in the velocity of money.

With so much new money in the system this year, inflation will be on our heels in no time.

35 posted on 09/30/2008 10:42:12 PM PDT by April Lexington (I'm voting for McCain in 2008 and Jefferson Davis in 2012)
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To: April Lexington

If this pace of government spending keeps up, it won’t matter where anyone puts their money.

They can put their 400k under the mattress, when they take it out in few years it will only buy a pack of gum.


36 posted on 09/30/2008 10:52:54 PM PDT by Eric Blair 2084 (Alcohol, Tobacco and Firearms shouldn't be a federal agency...it should be a convenience store.)
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To: Eric Blair 2084
It’s all fun and games until you can’t get a home, car or business loan. Than it hits Main Street.

If your credit is good, you will be able to get credit.

Stop talking nonsense.

37 posted on 09/30/2008 11:32:47 PM PDT by fortheDeclaration ('we don't make compromises-we make Marines')
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To: Eric Blair 2084
All I know is Government caused the problem and now government has to fix it.

No, Gov't CAN'T fix it, it needs to get out of the way and let the MARKET fix it.

38 posted on 09/30/2008 11:35:01 PM PDT by fortheDeclaration ('we don't make compromises-we make Marines')
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To: Eric Blair 2084

And you think this bill is just about 700 billion and that’s it. No additional oversight of government into capitalisms gears? This is a tool, pelosi and reid have the levers. They want influence over evil wall st....and your main street....and everything in-between. You’re fooling yourself if you think this will:
a.) change ANYTHING in regards to medium to long term market reaction
b.) bring stability to “MAIN street”
c.) be the end of US tax-payer pack animal extorsion

Who came up with this ‘main street’ garbage term anyway in regards to this mess? It’s annoying!


39 posted on 09/30/2008 11:59:42 PM PDT by griffin
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To: Cboldt
It "costs" the government when the government reduces taxes.

That is a leftist lie that has been disproved over and over again. Reducing taxes INCREASES tax revenues.

40 posted on 10/01/2008 3:01:49 AM PDT by AmericaUnited
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To: JACKRUSSELL

Wow! I knew this intellectually, but to actually hear it during this time of “economic crisis” is really upsetting.


41 posted on 10/01/2008 3:40:01 AM PDT by Lynne
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To: All; SE Mom; holdonnow

Oh, it gets better:

http://thehill.com/leading-the-news/soros-floats-alternative-bailout-plan-with-dems-2008-09-30.html

It wasn’t enough to have the crooks and brainless folks who got us into and want to continue the bad loans, let’s add the guy who caused the run on banks in England and backs ACORN (as if he has no dog in the fight).

A little remembered story:

Is Soros Planning ‘October Surprise’ for Bush?

http://archive.newsmax.com/archives/articles/2004/2/1/132047.shtml

Other things to consider:

George Soros: The Man, The Mind And The Money Behind MoveOn
http://www.ibdeditorials.com/IBDArticles.aspx?id=275181103776079

Snip:

Money & Elections

Soros’ efforts go beyond spin. He has also bankrolled groups involved in the manipulation of elections, an activity that has increased since his money came into the picture. Two groups — Americans Coming Together and the Association of Community Organizations for Reform Now — were sanctioned recently by the Federal Election Commission for fraud.

Soros pledged $10 million to ACT, which has since been fined $775,000 for illegally funneling $70 million set aside for voter registrations to Democratic candidates.

He also gave at least $150,000 to ACORN, the left-wing group best known for pushing minimum-wage hikes, marching for illegal-immigrant amnesty and harassing Wal-Mart. ACORN has been accused of voter fraud in 13 states since 2004 and was convicted of falsifying signatures in a voter registration drive last July, drawing a fine of $25,000 in Washington state.

Soros says he has ended funding to voter-drive organizations, but he still heads a secretive rich-man’s club called “Democracy Alliance” that has doled out $20 million to activist groups like ACORN.


42 posted on 10/01/2008 4:52:04 AM PDT by AliVeritas (All stolen from http://directorblue.blogspot. com)
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To: All
HIGH ALERT Senate bailout vote scheduled tomorrow at approx. 9pm Eastern; shamnesty tactics all over again

MESSAGE TO CONGRESS---NO PORK PERIOD.

Do NOT legislate a bailout with PORK and SWEETENERS for a select few connected insiders. Americans demand a c-l-e-a-n bill to resolve the problem. Americans DEMAND to see the bill before any votes are taken. Americans demand the bill be widely publicized via print and broadcast media....... and on the i-net.

MESSAGE TO CONGRESS

It is an outrage that Barney Frank and Chris Dodd are still fronting the bill. Americans are appalled to see the same old insiders salivating to grab a piece of the action for themselves and their cronies. Remove Frank and Dodd now. If Frank and Dodd are not removed, America cannot trust the government to do the right thing. - NO BILL if Barney Frank and Christopher Dodd are not removed.

===================================================

Capital Hill toll free :

800-965-4701 ----- 800-828-0498 ------ 888-802-1207

Capitol Hill Switchboard

202-224-3121.

43 posted on 10/01/2008 4:55:07 AM PDT by Liz (Taxpayer: one who works for the govt but doesn't have to take a civil service test. R. Reagan.)
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To: fortheDeclaration

Past time to privatize...


44 posted on 10/01/2008 4:57:23 AM PDT by AliVeritas (All stolen from http://directorblue.blogspot. com)
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To: AliVeritas

UNREAL- the connections are endless.

....

I’m looking for a youtube of a speech Obama gave at a rally yesterday- can’t locate one yet :(

I’m paraphrasing- so I can’t be precise:

... Just wait til I’m president, the $700 billion bailout will be dwarfed by the plans I have for America’s new economy...

We need to find this quote/you-tube. I’m spamming threads this morning looking for asst :)


45 posted on 10/01/2008 4:59:10 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: Fred
I have a question for all you Constitutional experts out there:

Article 1, Section 7 of the United States Constitution states: "All bills for raising revenues shall originate in the House of Representatives".

Since the "Bail-Out" CLEARLY is a bill which "raises revenue", is it not un-constitutional for the SENATE to originate the bill. The House already TRIED to originate a bill and failed.

I am probably WRONG, of course, because I have this terrible habit of reading the WORDS in our Constitution and assuming they mean EXACTLY what they say. I also tend to assume that in the case of a question regarding interpretation, the CORRECT interpretation is the one that LIMITS the powers of our government the MOST. Call it a character flaw if you will, but I think it's a little late in my life to change it now.

;^)

46 posted on 10/01/2008 5:05:49 AM PDT by WayneS (Vote Obama bin Biden 2008 - "Because the world doesn't suck enough yet".)
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To: Liz

I remember some pork advertising provisin in a spending bill and McCain on the floor (paraphrase) “eat more X, there now c-span has given more than enough advertising”

that is the mccain we need in this fight.

McCain needs to remember

LEAD, FOLLOW, OR GET THE H#LL OUT OF THE WAY.

Obama is voting present after his WH fiasco where he was supposed to “control” the president’s meeting. I wonder if Reid is going to give der obama control.


47 posted on 10/01/2008 5:06:09 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: AliVeritas
Past time to privatize...

Never to late, just have to be willing to do it. The alternative is far worse.

48 posted on 10/01/2008 5:18:12 AM PDT by fortheDeclaration ('we don't make compromises-we make Marines')
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To: fortheDeclaration; Eric Blair 2084
If your credit is good, you will be able to get credit.

Great point.

If the govt. is dumb enough to go ahead with the 700B plan (a number picked out of thin air!) there is no guarantee that the banks buying these types of securities will do so again, or expand their lending in other sectors they think are risky. IOW, if the banks don't start lending in these areas guess who will be making all the loans?

The alternative plan with changing the mark to marketing rule to value these securities based on their cash flow solves a lot of this problem. Also, if the govt. insures these securities the exposure is less than 10% of the initial 700B that will be spent buying them. The thing nobody is talking about is the vast majority of the mortgages are being paid.

So why have the govt. step in and ultimately nationalize home lending?

49 posted on 10/01/2008 5:20:56 AM PDT by wmfights (Believe - THE GOSPEL - and be saved)
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To: AliVeritas; fortheDeclaration
Past time to privatize...

Why?

The alternative will be the govt. taking over home lending by being the only secondary market for banks to recapitalize. The plans involving the govt. buying the securities can't guarantee that the banks will start buying these securities in the future.

Banks operate with a herd mentality. They are all afraid to buy these securities and will pull back on credit lending. IOW, buying these securities will not guarantee any loosening of the credit markets.

50 posted on 10/01/2008 5:31:37 AM PDT by wmfights (Believe - THE GOSPEL - and be saved)
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