Posted on 09/28/2008 2:15:27 AM PDT by hocndoc
Lawmakers Reach Accord on Huge Financial Rescue Vote is Imminent on $700 Billion Bailout Plan
Congressional leaders and the Bush administration this morning said they had struck an accord to insert the government deeply into the nation's financial markets, agreeing to spend up to $700 billion to relieve Wall Street of troubled assets backed by faltering home mortgages.
(Excerpt) Read more at washingtonpost.com ...
regardless I’m so disappointed in every single pol associated with this theft.
If these two ah*oles are all smiles IT HAS GOT TO BE BAD FOR AMERCIA!!!!
They are bailing out a trilliond of worthless paper with another trillion of worthless paper. Excuse me if I pass on buying the Brooklin Bridge.
Our Marines are fighting in the wrong place. We need to send them to DC and take care of the terrorist right here.
You know there is an Ethiopian in the fuel supply (W C FIELDS) when these aholes agree on anything.
If the Dems weren’t scared of it they would have voted on this BS days ago. Partisanship my a$$.
To bad WE couldn’t get a grass roots move going to oust ALL of these MF’s come Nov 4....could get 100% of House and 33% of the Senate....if NO changes complete turn over in 2 yrs again then we will be up to 66% of the Senate.
We have to start with the primaries and tell our own parties either put someone NEW up or lose the seat if you insist on running the incumbent.
Show these fools what TERM LIMITS really means....
Of course this is just why they PANDER to the majority whether they have their hands out or not....
“I WOULD RATEHR LOOSE AN ELECTION THAN A WAR”
THIS IS WAR! IF YOU WANT TO CONTINUE TO USE THE “MAVERIC” TITLE PROVE IT TO THE AMERICAN TAXPAYER!
LIVE BY YOUR VERY WORDS JOHN, VOTE NO! AND INJECT YOUR OWN PLAN
I’m not in favor of any bailout but they certainly did not get all of what they want. No Judges to rewrite mortgages, no money for ACORN and the inclusion of insurance to be paid for by the firms holding the allegedly bad paper.
If your point was that they asked for things they never thought they would get then I believe you underestimate the arrogance of the left.
Good point - we, the people, absolutely need to see this bill in its entirity before a vote. Press your reps and Senators!
The article you linked to was from yesterday afternoon. At that time the provision for ACORN was still in the bill. It is no longer there as of this early A.M.
I suppose we won’t know exactly what is in there until we actually are able to see the bill in its entirety.
This statement if made by a Republican would be front page news and leading every newscast. They would be screaming of Republican arrogance and their “my way or the highway” mindset.
Above referenced fund is ACORN.
nobody expects to get everything they wanted. but acorn was so over the top crazy that republicans would give up almost everything else just so acorn wouldn’t be in there.
I’m glad the judge thing is out. The insurance doesn’t excite me...I really wanted the newt/Republican Study group plan.
Thank God! ACORN is out. Just go and read the other postings here which refer to the voter fraud shaping up out there. We have been told that ACORN is behind a lot of it. Legitimate voting is one of our most precious privileges and when it is hugely corrupted by those who want to pervert our system, we are in trouble.
"They also agreed not to dedicate a portion of any profits from the bailout program to an affordable housing fund that Republicans claimed would primarily assist social service organizations that support the Democratic Party, the official said. "
I think this is the WP reference to ACORN.
RATS lie
People lose their houses because they can't honor the mortgage contracts they signed? Sad, but those folks were not going to invite me, the taxpayer bailing them out, to live in their houses when things were going well.
Big banks and brokerage companies going under? Sounder companies will buy them or replace them.
A run on the banks? The FDIC is already there to cover accounts under $100,000. Anyone risking more than that in a single account knows they are taking a chance for convenience sake.
Someone please help me out here. What is the disaster that will happen that is worse than the government destroying the the system of private property and private contracts?
The WaPo article says the compromise will be posted on the web today, and the lowly public will have 24 hours to look at it (so good of them). So we’ll know today, barring yet more shenanigans, of course.
"Meanwhile, House Republicans won a major victory, persuading negotiators to include a provision that would require the Treasury Department to create a federal insurance program that would guarantee banks and other firms against loss from any troubled asset, the official said."
My problem with this is that given the choice of selling non-preforming assets for cash versus spending money to insure these assets that the banks will simply choose to take the money and run. What would motivate them to subscribe to the Republican plan when they can cash out from the $700 billion piggy bank? It's not obvious to me that they would.
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