Uh huh.We do not support government bailouts of private ins utions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself.
http://www.gop.com/2008Platform/Economy.htm
Ohhhh!!! The hypocrisy!!!
http://www.marke ch.com/news/stor...E%7D&dist=hptsWASHINGTON (Marke ch) -- Embattled mortgage finance giants Fannie Mae and Freddie Mac are "fundamentally strong" and questions about their capital are unwarranted, a top U.S. Senate Democrat said Friday afternoon.
"This is not a time to be panicking about this. These are viable, strong ins utions," Sen. Christopher Dodd, D-Conn., said at a Capitol Hill press conference.
Change topic much?
It's not a bailout, but a loan. I'm not in favor of gifting taxpayer money.
nevertheless, I wish the democrats would just take a stand and say decisevly that they are not in favor of the "bailout" and will vote against it.
also, the dems are in control here.
Keep laughing...
http://www.cnn.com/2008/POLITICS/09/...eax/index.html
I must tell you, there are those in the public debate who have said that we must act now. The last time I heard that, I was on a used-car lot," said Rep. Mike Pence, R-Indiana. "The truth is, every time somebody tells you that you've got to do the deal right now, it usually means they're going to get the better part of the deal."And conservatives, in particular, object to the large departure from free-market principles."They are saying this is failure of the free markets of capitalism when, in fact, this is a failure because government injected itself into the free market, created this easy credit, these guaranteed loans, and these loans are what have turned into the bad paper that are bringing all these financial ins utions down," said Sen. Jim DeMint, R-South Carolina. Video Watch DeMint slam the bailout »
Rep. Jim McDermott, D-Washington, also asked why Congress should trust the administration to administer the bailout plan properly when, in his view, it has lost its credibility with the American people.
"Trust is something that is already bankrupt. The bank of trust in this administration is absolutely bankrupt," McDermott said. "They have misled, lied, misrepresented, whatever word you want to use, on issue after issue. And now they give us seven days to come back, take out your wallet and give them everything that's in it."
Fannie Mae and Freddi Mac aren't really private ins utions.
AIG well...all the insurance legislation has basically made many forms of insurance a federal requirment so the relationship has kind of been legislated into existence....
If you guys decide to get a pe ion together aboloshing all forms of insurance...I'll be the first one to sign it.
Somehow we made it 200 something thousand years without insurance...I don't think it's a necessity for survival.
Without insurance the price of everything will come down....
Oh man....this makes my brain hurt. 200,000 years? Abolish all types of insurance?If you guys decide to get a pe ion together aboloshing all forms of insurance...I'll be the first one to sign it.
Somehow we made it 200 something thousand years without insurance...I don't think it's a necessity for survival.
Without insurance the price of everything will come down....
Exactamundo.
There's a time for partisanship and there's a time to put Country first. It's so sad that Congress can't see that.
This $hit should piss you off regardless of you are voting for.
It's pretty ing sad that the democrats are asking the questions that our "fiscal conservative, small government" republicans should be screaming.
These RINOs can GFT.
Jim Bunning holding it down!!!
So do ANY of the board republicans want to admit their platform is or are you all going to provide bull flaling excuses?
I started this thread as a pure joke, but its funny when that causes people to scramble.
you make a one point and now the whole platform is sh*t. come on Manny that's a stretch. as far as "bailing" a company out. I'm not in favor of gifting money to airlines or automakers. The Mortgage Industry, because quasi government agencies like Fannie Mae and Freddie Mac deserve most of the blame, is a different story. A loan to be repaid at high interest rates makes sense. I'm in favor of this because our country doesn't deserve or need to endure the alternative. We made a mistake, lets correct it and get on with our lives.
So do ANY of the board republicans want to admit their platform is or are you all going to provide bull flaling excuses?
I started this thread as a pure joke, but its funny when that causes people to scramble.
"We made a mistake?" Who is we? The people that let Repubs create regulatory loopholes. The Repubs that dismantled government oversight? The "Government bad, Free enterprise" simpletons that chant Faux News talking points?
You are assuming that this is a fix and that is by no means certain especially considering the source. This same group hurried us into a war without providing a real reason, WMD and all that BS. Any rational people are going to give serious consideration to obligating themselves to $70 billion.
are you seriously blaming republicans? you're obviously not well read so I'll leave you alone.
And many Republican congressmen are railing against the bailout; upholding the platform.
I don't think the govt (i.e the tax payers) should have to bail out these ins utions. But, what is the consequence if we don't? It's kinda like getting chemo or radiation treatment. You're taking poison to get rid of cancer.
By the way, seeing as how nationalized home care (i.e. Fanny/Freddie) has failed, what makes people want nationalized heath care?
By the way, from http://www.opensecrets.org/news/2008...-of-fanni.html
Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008
Name
Office
Party/State
Total
1. Dodd, Christopher J
S
D-CT
$133,900
2. Kerry, John
S
D-MA
$111,000
3. Obama, Barack
S
D-IL
$105,849
4. Clinton, Hillary
S
D-NY
$75,550
5. Kanjorski, Paul E
H
D-PA
$65,500
6. Bennett, Robert F
S
R-UT
$61,499
7. Johnson, Tim
S
D-SD
$61,000
8. Conrad, Kent
S
D-ND
$58,991
9. Davis, Tom
H
R-VA
$55,499
10. Bond, Christopher S 'Kit'
S
R-MO
$55,400
11. Bachus, Spencer
H
R-AL
$55,300
12. Shelby, Richard C
S
R-AL
$55,000
13. Emanuel, Rahm
H
D-IL
$51,750
14. Reed, Jack
S
D-RI
$50,750
15. Carper, Tom
S
D-DE
$44,389
16. Frank, Barney
H
D-MA
$40,100
17. Maloney, Carolyn B
H
D-NY
$38,750
18. Bean, Melissa
H
D-IL
$37,249
19. Blunt, Roy
H
R-MO
$36,500
20. Pryce, Deborah
H
R-OH
$34,750
21. Miller, Gary
H
R-CA
$33,000
22. Pelosi, Nancy
H
D-CA
$32,750
23. Reynolds, Tom
H
R-NY
$32,700
24. Hoyer, Steny H
H
D-MD
$30,500
25. Hooley, Darlene
H
D-OR
$28,750
Includes contributions from PACs and individuals.
2008 cycle totals based on data downloaded from the
Federal Election Commission on June 30, 2008.
Freddie and Fannie were only giving all that money to those Democrats because they are ideologically pure, looking out for the common people, and the mortgage companies respect that.
Hola, 2cents. I do read a lot but you don't have to; just these two words-Phil Gramm.
Still some coffee let in the cup?
http://www.motherjones.com/news/feat...sure-phil.html
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