If the Republicans Screw up the Bailout

[2centsworth]

I will not vote republican for a long time. Instead, I will actively campaign against them. I'll always be attracted to the rhetoric, but the actions are what matter. Not passing a bailout is throwing our economy, not only financial institutions, but our entire economy over a cliff. And for what? Politics? I call BS.

btw, I hate about 80% of the democrat rhetoric and Obama is like Tom Hanks in the movie big.

[Anti.Hero]

But they finally have enough motivation to act like fiscal conservatives all of a sudden!

I heard C-Span ratings are through the roof! Think of all that camera time!

[2centsworth]

But they finally have enough motivation to act like fiscal conservatives all of a sudden!

I heard C-Span ratings are through the roof! Think of all that camera time!

that's what is pissing me off. they are trying to use this for political gain. I was willing to give them one more crack at it, but my nerves are wearing thin. They have about 24 hours longer to keep my vote, but if they don't many republicans will regret they never did. I freakin promise on the soul of ____________.

[MannyIsGod]

But they finally have enough motivation to act like fiscal conservatives all of a sudden!

I heard C-Span ratings are through the roof! Think of all that camera time!

Have you seen what they are proposing? Its absolute shit!!! I mean its so retarded its not even funny.

I'm fucking amazed Chris Dodd is leading the most rationale discussion on our economy right now but its true.

[MannyIsGod]

that's what is pissing me off. they are trying to use this for political gain. I was willing to give them one more crack at it, but my nerves are wearing thin. They have about 24 hours longer to keep my vote, but if they don't many republicans will regret they never did. I freakin promise on the soul of ____________.

Regan? :lol

[romad_20]

I'm fucking amazed Chris Dodd is leading the most rationale discussion on our economy right now but its true.

What a sad, sad day.

[Oh, Gee!!]

you'll get over it 2cents.

[DarkReign]

you'll get over it 2cents.

Very quickly as well, is my guess.

[MannyIsGod]

More than likely he won't have to. They'll have a deal soon.

Then again I've thought that all week. Lets see how many more banks will fail during this game of economic chicken.

[Yonivore]

Don't have a link yet but, if the following is correct (supposedly a portion letter from John Boehner to Nancy Pelosi) it's not McCain that poisoning the well here:


Madame Speaker:

... Over the last week, we have frequently discussed Secretary Paulson’s proposal, and I have repeatedly expressed the need for improvements on behalf of myself and my Republican colleagues. Our staffs have also been in regular contact. To that end, Financial Services Committee Ranking Member Spencer Bachus (R-AL) was tasked by House Republicans to engage in discussions with Chairman Barney Frank (D-MA) and Chairman Chris Dodd (D-CT) and report back to our Conference on the progress of those negotiations before a final deal could be made. Yet Chairman Frank and Chairman Dodd, on several occasions over the last several days, announced that a bipartisan deal was at hand even though the reservations about the underlying proposal I had expressed to you had not been addressed. Each time such announcements were made, or even rumored, I or my staff made it clear to media and to your staff that any such deal did not include House Republicans.

As we demonstrated at the beginning of this year when we crafted a timely agreement on the economic stimulus package, a bipartisan response to our nation’s priorities is never out of reach. And I believe the same holds true at this hour. House Republicans are prepared to stay in Washington to forge an agreement on a proposal that reflects the core free-market, pro-taxpayer principles of our Party.

With that in mind, earlier this week, with your knowledge, I directed our Chief Deputy Whip Eric Cantor (R-VA) to lead a working group of House Republicans to develop a package of ideas to move this process forward. His working group represented a broad cross-section of House Republicans – including both moderate and conservative members – and their goal was to develop ideas worthy of support on both sides of the aisle. We have discussed some of these ideas, and I would like to reiterate that I believe they should be given the consideration they deserve as our economic rescue discussions continue. A brief overview of the working group’s blueprint is included with this letter.

... I ask you and your Democratic colleagues to give the House Republican working group’s proposals serious consideration as this process moves forward. If such consideration is not given, a large majority of Republicans cannot – and will not – support Sec. Paulson’s plan. In the interest of the men and women we represent in Congress, I hope it does not come to that conclusion. I look forward to your timely response and to continuing our work together on an economic rescue package worthy of all of our support.

[Ocotillo]

One thing Boehner is wrong about is his line about both moderate and conservative Republicans, there are no more moderate Republicans left in the House.

[Aggie Hoopsfan]

Have you seen what they are proposing? Its absolute shit!!! I mean its so retarded its not even funny.

I'm fucking amazed Chris Dodd is leading the most rationale discussion on our economy right now but its true.

Yeah, 20% for ACORN and La Raza is 'rational'.

http://www.spurstalk.com/forums/showthread.php?t=105757

[MannyIsGod]

Yeah, 20% for ACORN and La Raza is 'rational'.

http://www.spurstalk.com/forums/showthread.php?t=105757

Show me bill text with that in there.

[ducks]

show me the bill text without it

[Yonivore]

One thing Boehner is wrong about is his line about both moderate and conservative Republicans, there are no more moderate Republicans left in the House.

Are you kidding? Lieberman identifies more with the Republican Party than the Democrat Party...

[whottt]

I will not vote republican for a long time. Instead, I will actively campaign against them. I'll always be attracted to the rhetoric, but the actions are what matter. Not passing a bailout is throwing our economy, not only financial institutions, but our entire economy over a cliff. And for what? Politics? I call BS.

btw, I hate about 80% of the democrat rhetoric and Obama is like Tom Hanks in the movie big.


They are supposed to execute the will of those that put them in office...that's not politicizing anything, that's doing their job...

Moot point anyway...something will get passed.

[101A]

Nobody needs House Republicans. They are in the minority. If the bill is so damned good, pass it.

I hate anything that has to be done, "Right Now". That's the line of the car salesman.

[Wild Cobra]

Nobody needs House Republicans. They are in the minority. If the bill is so damned good, pass it.

I hate anything that has to be done, "Right Now". That's the line of the car salesman.

You are so right.

The democrats say they won't vote for it unless they have "line and rank" republicans on board. You know why? They know they are catering to their elitist banker friends. They know they will go down in flames if they pass it without the promenent republicans supporting it. They not only want to help their friend, but get reelected to. That will be ahrd if they have to take all the blame!

Is any of Paulson's retirement money coming from stocks and profits of Goldman Sachs? I wonder how many shocks he has in the banking institutes?

[whottt]

Forget about the financials, that is such a moot point it is ridiculous. Everything will be bought by investors and the companies and individuals that are in position to make these purchases will simply replace the ones that went under. That's what the entire financial industry is all about...that people with the money will move in on the cheap becuase the profit potential is too great not to do so.

That's not why they have to pass something, they have to pass something so thousands of Americans don't lose their jobs. That's why they will pass something...a government that puts too many people out of work not only doesn't get it's ruling party re-elected, it gets people trying to overthrow it.

[Ya Vez]

Senators Harry Reid and Chris Dodd gave a press conference today to explain to the public how the financial crisis was all the fault of Republicans, which justifies their porking up any bailout bill with lots of additional spending. Because it’s understood that Senators and Representatives have to “take care of” their constituents, which means lots and lots of vote-buying pork.

Because a bailout bill that’s closing in on a trillion dollars isn’t expensive enough as is, apparently.

Really, though, is there anything more transparently hypocritical than the Democrats putting Chris “VIP Loans” Dodd out in front of their efforts to blame America’s housing woes on Republicans? As if it isn’t Dodd who has taken more money from Fannie Mae and Freddie Mac than any other politician in America (with Obama coming in a close second). As if it wasn’t Dodd, along with his Senate Budget Committee colleague Kent Conrad, who took VIP “friends of Angelo” loans from Countrywide Financial CEO Angelo Mozilo in exchange for ram-rodding another mortgage industry bailout through Congress earlier this year.

That Reid can stand next to someone like Dodd and try to pin the current financial fiasco we’re in exclusive on Republicans is so laughably weasel-like that one almost expects him to twirl a long, curly black mustache as cartoon villains do before exiting the stage.

[Yonivore]

Don't have a link yet but, if the following is correct (supposedly a portion letter from John Boehner to Nancy Pelosi) it's not McCain that poisoning the well here:

Link to a Politico story on the letter: Boehner letter to Pelosi (http://www.politico.com/blogs/thecrypt/0908/Boehner_letter_to_Pelosi.html)

[Crookshanks]

Democrats also know that a HUGE majority of americans are against this bail-out. If they push it through - it very well could mean they get tossed out at the next election!

[RandomGuy]

Yeah, 20% for ACORN and La Raza is 'rational'.

http://www.spurstalk.com/forums/showthread.php?t=105757

That was debunked in that thread, BTW.

Your precious blog stepped on its dick when it came to the facts, and you sucked it up without doing any critical thinking or minimal fact checking.

20% of profits from the disposal of the assets, IF ANY, would go to the National Housing Trust Fund, to be distributed in a variety of ways, to ACORN AND among a few dozen other non-profits will recieve SOME additional grants to assist low and extremely low income housing, IF there is any profit to be made on the disposal. Hardly much of a corrupt "gimmie" to old cronies.

[whottt]

Democrats also know that a HUGE majority of americans are against this bail-out. If they push it through - it very well could mean they get tossed out at the next election!


It's going to be politicized...and IMO the Democrats are way better at politicizing shit than the Republicans....see Bill Richardson being the first to sound the illegal immigration alarm now leading his constituents against the racist Republicans for an example of this.

The Democrats totally outclass the Republicans when it comes to deception.

[2centsworth]

Nobody needs House Republicans. They are in the minority. If the bill is so damned good, pass it.

a colonoscopy is good, but not when you're going through it.




I hate anything that has to be done, "Right Now". That's the line of the car salesman.

two Friday's ago I went to bed, the market was closed and things seemed quiet. Sunday came rolling around and Lehman filed bankruputcy, Merrill was forced to sell or go under, AIG was on the edge too.

things are moving that fast and something needed to be done yesterday. WAMU just went under. Money is drying up quick. Keep f'n around and i will personally choke Boehner.

[2centsworth]

It's going to be politicized...and IMO the Democrats are way better at politicizing shit than the Republicans....see Bill Richardson being the first to sound the illegal immigration alarm now leading his constituents against the racist Republicans for an example of this.

The Democrats totally outclass the Republicans when it comes to deception.

Republicans are making me sick, because they are trying to play that game. short-term the republicans will take their lumps, but long-term sticking to principles will win more votes.

[Yonivore]

a colonoscopy is good, but not when you're going through it.
Hell, you're sedated.


two Friday's ago I went to bed, the market was closed and things seemed quiet. Sunday came rolling around and Lehman filed bankruputcy, Merrill was forced to sell or go under, AIG was on the edge too.

things are moving that fast and something needed to be done yesterday. WAMU just went under. Money is drying up quick. Keep f'n around and i will personally choke Boehner.
Something needs to be done? Even if it is the wrong thing?

[101A]

H5tZc8oH--o

[DarkReign]

Forget about the financials, that is such a moot point it is ridiculous. Everything will be bought by investors and the companies and individuals that are in position to make these purchases will simply replace the ones that went under. That's what the entire financial industry is all about...that people with the money will move in on the cheap becuase the profit potential is too great not to do so.

That's not why they have to pass something, they have to pass something so thousands of Americans don't lose their jobs. That's why they will pass something...a government that puts too many people out of work not only doesn't get it's ruling party re-elected, it gets people trying to overthrow it.

With any luck. But I doubt Americans have the spine these days.

[Shastafarian]

H5tZc8oH--o

I tried to watch it. But the bad 80's music made me nauseous.

[2centsworth]

Something needs to be done? Even if it is the wrong thing?

the wrong thing would be to deprive capital to the economy. The dominoe effect will be brutal.

btw, the capital gains/insurance program is pandering or stupidity. These institutions need an influx of capital, but at the lowest cost possible to the FED. A loan or at worst buying the assets are the only things that will work. Insurance increases book value and provides 20 maybe 30% of the 700 billion needed.

Elimination of the Capital Gains is a government freebie.

[Yonivore]

the wrong thing would be to deprive capital to the economy. The dominoe effect will be brutal.

btw, the capital gains/insurance program is pandering or stupidity. These institutions need an influx of capital, but at the lowest cost possible to the FED. A loan or at worst buying the assets are the only things that will work. Insurance increases book value and provides 20 maybe 30% of the 700 billion needed.

Elimination of the Capital Gains is a government freebie.
What you're saying is we need more Warren Buffets. So, if the Fed backs off, do you think they won't step up? Wouldn't it be in their interest to pump capital back into the economy?

[101A]

With any luck. But I doubt Americans have the spine these days.

Let's go French Revolution on 'em. Just start lopping off the heads of ANYONE that looks royal.

[2centsworth]

What you're saying is we need more Warren Buffets. So, if the Fed backs off, do you think they won't step up? Wouldn't it be in their interest to pump capital back into the economy?

who's they? Warren's piddly $5billion is a play on the bailout. Without it, he will lose most of it.

but if you want the next depression on your hands be my guest. The republican party will be a thing of the past if this happens.

Just my opinion.

[DarkReign]

I tried to watch it. But the bad 80's music made me nauseous.


Well, you should watch it. Its a nice recap of the whole situation.

[DarkReign]

Let's go French Revolution on 'em. Just start lopping off the heads of ANYONE that looks royal.

Nah...just a long list of known individuals to be brought before a jury and tried for treason.

[whottt]

With any luck. But I doubt Americans have the spine these days.



That's horrible...the peaceful transfer of power is what has always set America apart. We can continually build our country because we aren't always tearing it apart and trying to go in two directions at once.

[Wild Cobra]

Democrats also know that a HUGE majority of americans are against this bail-out. If they push it through - it very well could mean they get tossed out at the next election!
Yes, that was a point in my earlier posting. I say we all send them letters. Tell them, Go ahead and vote yes on this bailout if it's that important to you. We will thn vote against you in November. Myself, I not vote for McCain if he votes yes on the pailout as proposed. That will be a hard choice, depending on how Palin contimues to do.


That was debunked in that thread, BTW.

Your precious blog stepped on its dick when it came to the facts, and you sucked it up without doing any critical thinking or minimal fact checking.

20% of profits from the disposal of the assets, IF ANY, would go to the National Housing Trust Fund, to be distributed in a variety of ways, to ACORN AND among a few dozen other non-profits will recieve SOME additional grants to assist low and extremely low income housing, IF there is any profit to be made on the disposal. Hardly much of a corrupt "gimmie" to old cronies.
Yes, the 20% was a premature conclusion. Still, 20% of the profits. No way. Especially to any actavist group with criminals within. The democrats need to take out all these distractions and focus only on the crisis. As long as they poison the package, they will have a hard time getting anything.