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House to Vote on Historic $700B Market Bailout
Associates Press via FOWNews.com ^ | September 29, 2008 | AP

Posted on 09/29/2008 4:00:47 AM PDT by NCDragon

WASHINGTON — With the House slated to vote Monday on a deeply unpopular $700 billion rescue plan for beleaguered financial companies, President Bush and congressional leaders were scrambling to corral support.

Bush called the election-year vote a difficult one for lawmakers but said he is confident Congress will pass a measure his top economic officials have argued is vital to averting a broader economic meltdown.

"Without this rescue plan, the costs to the American economy could be disastrous," Bush said in a written statement Sunday.

Convincing their colleagues to back the plan despite thousands of angry phone calls, e-mails and letters pouring in from angry constituents proved a tall order for leaders in both parties.

"Now we have to get the votes," said Sen. Harry Reid, D-Nev., the majority leader. He said the measure could pass the Senate as early as Wednesday.

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


TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: 110th; bailout

1 posted on 09/29/2008 4:00:47 AM PDT by NCDragon
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To: NCDragon

Tar and feathers.


2 posted on 09/29/2008 4:01:27 AM PDT by dinodino
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To: NCDragon

>> “Nobody wants to have to support this bill,” said Rep. John A. Boehner

Then DON’T support it, Boner! Stiffen up, man.


3 posted on 09/29/2008 4:03:07 AM PDT by Nervous Tick (I've left Cynical City... bound for Jaded.)
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To: NCDragon
Republicans....PLEASE....PLEASE VOTE THIS DOWN!!!! Get a BETTER...CLEANER BILL!! You will be DESTROYED by this!

The Dems have the majority....let THEM VOTE FOR IT!

4 posted on 09/29/2008 4:03:47 AM PDT by Ann Archy (Abortion.....The Human Sacrifice to the god of Convenience.)
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To: NCDragon

I agree with GWB on this: I am also confident that Congress will pass this bailout. Congress nearly always does the WRONG thing!


5 posted on 09/29/2008 4:04:35 AM PDT by Theodore R. (Cowardice is forever!)
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To: Nervous Tick

Boehner might be getting an eternal nickname: either “Little GWB” or “Chicken Little”!


6 posted on 09/29/2008 4:05:24 AM PDT by Theodore R. (Cowardice is forever!)
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To: NCDragon

I hope McCain and the republicans put the kibosh on this. If not they destroy conservatism and the party.


7 posted on 09/29/2008 4:06:09 AM PDT by screaminsunshine
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To: NCDragon

Just say no.


8 posted on 09/29/2008 4:06:14 AM PDT by murphE (I refuse to choose evil, even if it is the lesser of two)
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To: NCDragon
House to Vote on Historic $700B Market Bailout corrupt 2008 Democratic-Wall Street+Bank=>Kickback Bill

More accuracy.


9 posted on 09/29/2008 4:07:25 AM PDT by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: murphE

All Republicans should vote Present.


10 posted on 09/29/2008 4:08:16 AM PDT by blf1776 (Compassionate Conservatism Is Dead - It is time to fight, fight, FIGHT!!!!)
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To: murphE

“Just say no.”

Where have I heard that before?

;-)

It is a simple plan- let the dems pass this travesty.


11 posted on 09/29/2008 4:09:53 AM PDT by Canedawg (If the law supposes that, said Mr. Bumble, the law is a ass, a idiot.)
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To: NCDragon
The Democrat constituencies see this as a $700B bonanza. In order to get a place at the table, companies WILL have to be "nice" to certain parties.

This bill MUST be killed.

12 posted on 09/29/2008 4:09:55 AM PDT by SauronOfMordor (When injustice becomes law, rebellion becomes duty)
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To: Diogenesis

Glad that they find sticking us w/ a 700 Billion dollar bill is so funny.

13 posted on 09/29/2008 4:11:50 AM PDT by BookmanTheJanitor
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To: Theodore R.

>> Boehner might be getting an eternal nickname: either “Little GWB” or “Chicken Little”!

I have a few other nicknames for him and the other socialists. Mrs. Tick gets mad when I use these nicknames around the house. I probably ought to use them *here* in the forum, so I’ll get banned and I can get some work done.


14 posted on 09/29/2008 4:12:14 AM PDT by Nervous Tick (I've left Cynical City... bound for Jaded.)
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To: NCDragon
They should all have to watch these before they vote.

And if they don't, the American People should.

It's time for this country to take back our money from the money masters, once again.

The Money Masters - How International Bankers Gained Control of America - 215 min - Mar 27, 2007
http://video.google.ca/videoplay?docid=-515319560256183936

Money As Debt - 47 min - Feb 12, 2007
http://video.google.com/videoplay?docid=-9050474362583451279

“Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

~James Garfield,
20th President
Assassinated, 1881

I wish our congress critters could all be held down and forced to watch these two videos, kinda like in Clockwork Orange... (No, they don't recommend going back to a gold standard.)

15 posted on 09/29/2008 4:13:38 AM PDT by EasySt ( Fold Here! Fold Now! (Free Republic Folders)
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To: NCDragon

Dow futures down 200, the bailout is really working(eyes rolling)


16 posted on 09/29/2008 4:14:20 AM PDT by DallasBiff
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To: NCDragon
It was going to pass one way or another. This just give Pelosi the chance to blame it on the GOP.
17 posted on 09/29/2008 4:15:08 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: NCDragon
When this boondoggle is passed, can we once and for all put to rest the asinine idea that the ne'er-do-wells somehow deserve some kind of payment for their ancestors slavery?

Not only was that bill paid in full, by the deaths of 618,000 Americans in the Civil War, but this little gem should make them owe enough that they will become assimilated ... finally.

18 posted on 09/29/2008 4:15:39 AM PDT by G.Mason (Duty, Honor, Country)
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To: BookmanTheJanitor
"No Thankth! I rode one of thoth latht night and I'm thtill thore! Thlip THAT thing to the takthpayerth inthtead! [giggle]"


19 posted on 09/29/2008 4:15:52 AM PDT by Nervous Tick (I've left Cynical City... bound for Jaded.)
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To: DallasBiff

Yeah, but that seems to be moving toward green. Way too early to determine what “the markets” will do yet.


20 posted on 09/29/2008 4:24:56 AM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: G.Mason

Riiight. All those Wall Street guys are descendants of slaves. Sure thing.


21 posted on 09/29/2008 4:24:59 AM PDT by Wolfie
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To: LS

but the DJ is not the market. there is no question that big banks will suffer for offering too many bad loans.


22 posted on 09/29/2008 4:30:40 AM PDT by ari-freedom (Just let Sarah be Sarah!)
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To: Wolfie
Wall Street guys my behind.

Who was it that received those mortgages they couldn't repay?

Who forced the banks to give loads to those ne'er do wells?

Yeah ... Wall Street guys.

23 posted on 09/29/2008 4:31:33 AM PDT by G.Mason (Duty, Honor, Country)
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To: NCDragon

SAY NO!!! and reap the rewards in November. Please!!!!


24 posted on 09/29/2008 4:32:41 AM PDT by BornToBeAmerican (“Barack Obama needs to grow up.")
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To: NCDragon

Vote NO!


25 posted on 09/29/2008 4:34:57 AM PDT by itsthejourney (Sarah-cuda IS the right reason)
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To: DallasBiff

...the bailout is really working(eyes rolling)


Now that they Wall Street boys know they can roll Congress, $700B is just a warm-up. Give ‘em 2 weeks, they’ll be back for more—much more.

Note the headline adjective too (”Historic”). Kinda puts a positive spin on this, like the signing of the Declaration of Independence was historic. This is just shameful.


26 posted on 09/29/2008 4:36:01 AM PDT by rbg81 (DRAIN THE SWAMP!!)
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To: Diogenesis

Vile on the inside and on the outside!


27 posted on 09/29/2008 4:37:33 AM PDT by Dr. Ursus (( commander of the simian host))
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To: NCDragon

I do not understand why conservative republicans would support this bill! It is the largest tax increase in all history that will burden every American citizen, male and female and young and old, with a tax that can never be paid at all and will actually create the goverment controlled system of communism the left and the godless want that will destroy our nation with economic downfall.
And the house democrats can pass this bill even if all the republicans vote it down as they should, so it makes no sense at all to vote for it as the pubs know it is a disaster for all of us. The republicans have truly lost their way and forgotten who they are.


28 posted on 09/29/2008 4:39:49 AM PDT by kindred ( Third party conservative for Chuck Balwin,McCain is a liberal,Obama a communist.)
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To: Ann Archy

[Get a BETTER...CLEANER BILL!! You will be DESTROYED by this!]

Actually, all of America will be destroyed by this and we will be just another socialist to communist nation.


29 posted on 09/29/2008 4:41:23 AM PDT by kindred ( Third party conservative for Chuck Balwin,McCain is a liberal,Obama a communist.)
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To: G.Mason

In that case, give the $700 billion directly to the mortagees, and let them pay their mortages.


30 posted on 09/29/2008 4:49:12 AM PDT by Wolfie
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To: Wolfie
"In that case, give the $700 billion directly to the mortagees, and let them pay their mortages."


95% of lenders are paying their mortgages. So they should be forced fork over their hard earned money to bail out those others?


I guess we could debate this for days.

One of the sad aspects of this is, that the Democrats are responsible for this. Were there any Republicans involved, they would have been hauled immediately before a Congressional tribunal for interrogation.

The other is the overkill on CEO's salaries.

Are they too high? Ask those corporate shareholders that vote.

One thing is certain. CEO salaries did not cause this, and are but a drop in the proverbial bucket, as far as this collapse goes. CEO's salaries is nothing more than a smokescreen.


JMHO

31 posted on 09/29/2008 5:03:44 AM PDT by G.Mason (Duty, Honor, Country)
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To: G.Mason

One thing I would like to see is an SEC rule that does not allow BODs to take “proxy” votes from non-voters.

Many companies will send out proxy notices and include terms which say that if the proxy is not returned, the BOD gets to use that vote.

If corporations were responsible to their shareholders rather than manipulated by BODs who are getting kickbacks on their votes, problems like over-compensation of CEOs, etc would go away.

Also, we would not see corporate sponsorship of political issues like gay marriage that we currently do. PG&E is putting a ton of money into California’s Prop 8 (opposing the protection of marriage) with a total disregard for their shareholders’ opinion on the issue.

Most shareholders would likely not support spending money on that initiative one way or the other.


32 posted on 09/29/2008 5:19:40 AM PDT by Paloma_55 (I may be a hateful bigot, but I still love you)
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To: Paloma_55

Excellent points, all.


33 posted on 09/29/2008 5:30:19 AM PDT by G.Mason (Duty, Honor, Country)
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To: NCDragon

Just vote NO!


34 posted on 09/29/2008 5:47:39 AM PDT by tarpit (Troubled Asset Relief Program Indentures Taxpayers)
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To: ari-freedom

Yes they will. The issue is whether we want, or can afford, to allow a panic to set in while purging the “bad actors.”


35 posted on 09/29/2008 5:52:20 AM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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To: tarpit

I would imagine that all the retiring GOP House members except maybe Tancredo and Hunter will be voting YES for sure.


36 posted on 09/29/2008 5:54:17 AM PDT by Theodore R. (Cowardice is forever!)
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To: LS

everyone is panicking...against the bailout.


37 posted on 09/29/2008 5:55:25 AM PDT by ari-freedom (Just let Sarah be Sarah!)
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To: kindred

taxes won’t technically be increased but there will be lots of inflation if this is passed


38 posted on 09/29/2008 5:56:54 AM PDT by ari-freedom (Just let Sarah be Sarah!)
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