Posted on 06/24/2008 11:20:13 AM PDT by STARWISE
Scroll down for updates…
Ethics, schmethics. Despite the cloud over Countrywide pals Chris Dodd and Kent Conrad, the latest mortgage bailout boondoggle has cleared another congressional hurdle. The Senate voted 83-9 to move forward on Dodd’s housing aid bill. Final vote is scheduled for later today. We’ll see if the White House upholds its veto threat.
Meanwhile, Politico asks Senate members to show them their loans. Check out the results here.
http://www.politico.com/homeloans/
It’s so, so tough to be a U.S. Senator, isn’t it?
http://article.nationalreview.com/?q=ZTY3ODA3NmMwZGJjNjVkYTllNWE5ODE0MjAwMzJhNWY=
Sniff.
***
Update: Here’s the cloture motion roll call vote. Look who’s AWOL again…
http://senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00155
***
Update: Just received from Sen. John Cornyn’s office:
As part of a continued effort to strengthen public disclosure and increase transparency in Congress, U.S. Sen. John Cornyn, Vice-Chairman of the Senate Ethics Committee, announced today that he and Senate Ethics Committee Chairwoman Barbara Boxer, D-Ca., have introduced an amendment to the housing reform bill, currently under consideration in the Senate, which would require Members of Congress to disclose residential mortgages as a liability on their financial disclosure reports.
In addition to Sens. Cornyn and Boxer, the amendment is cosponsored by Senators Mark Pryor, Ken Salazar, Pat Roberts, and Johnny Isakson, who together compromise the full Senate Ethics Committee.
Currently, there is an exception to the disclosure requirement for residential mortgages. The Cornyn amendment provides that this exception will no longer apply to Members of Congress.
“Accountability in government is only an empty promise without transparency and disclosure. The more information that we can put in the hands of citizens and journalists, the stronger our democracy will be, particularly as we take the necessary steps to rebuild the confidence of the American people in their government,” Sen. Cornyn said today.
“This amendment would close an unwarranted loophole and provide citizens and journalists with more complete information on financial disclosure forms. I appreciate the bipartisan support this amendment has received and I am hopeful it will be included in the housing reform bill.”
Chairman Boxer said, “Ethics in government is something that needs to be revisited continually. This update will help make our disclosure rules stronger, and I believe it is an important step forward.”
Under the Cornyn amendment, Members of Congress will have to make a “full and complete” disclosure of residential mortgages. This will require Senators to disclose the date that the mortgage was entered, the range of the amount, the interest rate, the term, and the name and address of the creditor. It will take effect as Members of Congress file their financial disclosure forms next year.
~~~~
Senate Housing Bill Requires eBay....+ All Credit Card Companies to Report Transactions to Govt
http://www.freerepublic.com/focus/f-news/2035149/posts
~~~
We all fell down .. I'm guilty as well. Broke my arm + did not call or fax my congresscritters.
Are we sure this isn't "Billion"?
Article links:
Meanwhile, Politico asks Senate members to show them their loans. Check out the results here.
http://www.politico.com/homeloans/
It’s so, so tough to be a U.S. Senator, isn’t it?
http://article.nationalreview.com/?q=ZTY3ODA3NmMwZGJjNjVkYTllNWE5ODE0MjAwMzJhNWY=
Sniff.
***
Update: Here’s the cloture motion roll call vote. Look who’s AWOL again…
~~~~
Senate Housing Bill Requires eBay....+ All Credit Card Companies to Report Transactions to Govt
http://www.freerepublic.com/focus/f-news/2035149/posts
It’s $300,000,000,000 (that’s 300 billion) in additional crap loans to insolvent people.
America is finished.
The Senate voted 83-9 to move forward on Dodd’s housing aid bill. Final vote is scheduled for later today.
hmmm 83-9. Seems alot of Republicans voted for this bill.
We have met the enemy and he is most elected politicians regardless of party.
Bad loans to be bought out with more bad loans. It’s just tax dollars, that’s free money isn’t it?
it’s hard out there for a pimp.
Where’s my bailout! I want my house paid for too! I don’t care that I make my payments early every month and was smart enough to get a fixed interest home loan! I want a bail out too!
Unbelievable. They should just leave a ‘for sale’ up at the Capitol. This is ridiculous.
Hey Roscommon, remember when we were talking about buying our first homes and lamenting over the fact that we played by the rules like a couple of schmucks?
The US Senate almost in it's entirely just made it official: We're schmucks.
Is that Dodd's (housing aid bill)? Or is it (Dodd's housing) aid bill? Because $300 million (As the headline states) is more in line with aiding the housing of one Senator... well, aiding him on top of what Countrywide was given him as a quid for this pro quo.
Senate Housing Bill Requires eBay....+ All Credit Card Companies to Report Transactions to Govt
Time to buy every hamburger and coke with a credit or debit card to flood the databases with worthless information while buying the guns and ammunition with cash.
The worst part:
http://www.freedomworks.org/newsroom/press_template.php?press_id=2571
Payment Card and Third Party Network Information Reporting. The proposal requires information reporting on payment card and third party network transactions. Payment settlement entities, including merchant acquiring banks and third party settlement organizations, or third party payment facilitators acting on their behalf, will be required to report the annual gross amount of reportable transactions to the IRS and to the participating payee. Reportable transactions include any payment card transaction and any third party network transaction. Participating payees include persons who accept a payment card as payment and third party networks who accept payment from a third party settlement organization in settlement of transactions. A payment card means any card issued pursuant to an agreement or arrangement which provides for standards and mechanisms for settling the transactions. Use of an account number or other indicia associated with a payment card will be treated in the same manner as a payment card. A de minimis exception for transactions of $10,000 or less and 200 transactions or less applies to payments by third party settlement organizations. The proposal applies to returns for calendar years beginning after December 31, 2010. Back-up withholding provisions apply to amounts paid after December 31, 2011. This proposal is estimated to raise $9.802 billion over ten years.
I am furious about this damn bill.
Well hey you know the RATS lost their “special” house bank and post office priviledges that they had the last time they controlled Congress. With them back in power they have to get the extra payoffs they “deserve” from somewhere.
One thing about government loans - they aren’t liquidated in bankruptcy.
Just remember who works for who. Elections are a sideshow.
Mortgages are public record anyways.
This is pandering to make Dodd seem less criminal.
The presidential candidates all AWOL.
I believe a cloture vote is not indicative of the final support.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.