Bailout Falling Apart; House Repubs Not On Board

Fox News | 9/28/08

[pabianice]

Now on Fox: Pelosi twisting arms to get Repubs on board bailout bill; much push-back. Pelosi will not let this pass without Repubs on board in case it blows-up and Repubs can pin it on Dems. Race to complete before Asian markets open. The Adventure Continues...

[Verginius Rufus]

I think that in addition to ACORN some left-wing Hispanic outfits would have received a windfall.

[pabianice]

I hope so. Every day this goes on McCain drops in the polls.

[Attention Surplus Disorder]

The latest methodology of diverting attention from what is, isn't or may be in this bill is by posting an older version of the draft bill, viz;

http://banking.senate.gov/public/_files/LegislativeTextofChairmansDoddsproposalfortheTreasuryBailoutplanAYO08B68_xml.pdf

dated Sept 25.

Here's something I really really liked/s:

SEC. 202. INCREASED FLEXIBILITY FOR THE FEDERAL RESERVE BOARD TO ESTABLISH RESERVE REQUIREMENTS. Section 19(b)(2)(A) of the Federal Reserve Act (12 U.S.C. 461(b)(2)(A)) is amended— (1) in clause (i), by striking ''the ratio of 3 per centum'' and inserting ''a ratio of not greater than 3 percent (and which may be zero)''; and (2) in clause (ii), by striking ''and not less than 8 per centum,'' and inserting ''(and which may be zero),''. SEC. 203. EFFECTIVE DATE. The amendments made by this title shall take effect October 1, 2011.

Apparently 30:1 leverage (LEH and BSC) and 80:1 leverage (FNM, FRE) was decidedly too restrictive, so now we should be going with INFINITE leverage.

Folks, by 10/01/11 banks will be authorized to operate with ZERO reserves with INFINITE leverage.

[PaxMacian]

I sold all my stocks Jan 2007 and can’t buy any of them for less now than I sold them for at a profit then. Granted I did not own any banks or insurance companies.

[Mark was here]

A correction may be a good thing. Just my be a word game but the root word of correction happens to be correct. CORRECT means doing the right thing. Fairly priced markets should not be considered a bad thing, should they?

[Texas_shutterbug]

I think the ACORN crap has been taken out. The dems finally listened to somebody with a brain in their party. Who has that brain - I don’t know!

[nicola_tesla]

YES !!!

Call/fax/email

Blitz them, and get 100 of your friends to do the same

[halo66]

Well...the dems have enough votes...let them pass it. If they have so much faith that this bill will work...let them pull the lever. We do not want the republicans attached to a bill that will ultimately fail!

[ABQHispConservative]

Damn right! I’m getting tired of this hand-wringing. Why is it that some people have this knee-jerk reaction of going after our politicians. Why not ask: where is 0bama? Give McCain the benefit of the doubt. After he comes out, then comment.

[pabianice]

Newest Gallup: Obama 50, McCain 42. This mess is helping Obama.

[daddydoo]

I feel we should just say NO to the bailout and let the markets adjust by themselves. Friends, we are on a fast track to Marxism. If the Republicans don’t object to this bailout as being not only unconstitutional and has no guarantee that it will work, then they are complicit in this dangerous move. We need to keep telling the Republicans on the hill that we want a NO vote. The Dems surely don’t have the ball$ to pass it by themselves. Contact members of Congress and let them know.

[Lloyd227]

• Drop the capital gains tax altogether  (2 years is a start, but I'd like to be rid of it completely)

• Dictate that this money be used ONLY for the purchase of mortgages,  not "mortgage related securities"

• Dictate that this money be used ONLY for the purchase of mortgages FROM US Institutions (no foreign investment banks)

• Publicly describe in detail how we got here and how our "affordable housing" initiatives actually caused this and name names.  I want to see Barney Franks, Chuck Schumer, Nancy Pelosi, Harry Reid and Barry Obama named specifically and the real information on how this happened made public.

Why is this money not restricted to buying actual mortgages? 

Why is this money not restricted to assisting American companies? 

Ask your representative and push them to answer!

[nicola_tesla]

YES !!!

Call/fax/email

and get 100 of your friends to do the same

[Anima Mundi]

ACORN + LA RAZA = MARXICAN Group

[tanknetter]

Is it not obvious the reason the Dems won’t pass this thing without Republican support is that they KNOW it is a steaming pile of dog crap?

The rules of the House of Reps are structured such that even a 1-vote majority conveys enormous power to get things to the floor and passed.

Pelosi can get this thing passed without GOP votes. Period, there's absolutely no dispute over that. So why won't she?

Who're the ones playing politics with this situation again?

[Mark was here]

Please explain the 95% not paying taxes thing.

[syriacus]

Shine a light on the folks who caused this mess!

[Terpfen]

He will lose this election unless he comes out against it.

He's already against at least the $700 billion part of the bailout. You are aware of what he did and said upon his return to Washington, right? Senate Pubs and Dems had worked something out, McCain told the room he wouldn't vote for a deal just to vote for a deal and it had to be the right bill, and the room erupted. The Senate GOP was ready to sell us out and McCain threw in with the House Republicans.

[LegalEagle61]

Ignore the polls. McCain knows better than anyone what they are saying and he is still not on the campaign trail, and he knows Obama is, so we have to give him some credit, he has to know what he is doing. He would not lose the election on purpose. He IS putting the country first and I doubt he’d gamble this big without really feeling it will benefit him and the GOP in the end.

[goldstategop]

The House GOP could care less about the presidential race. If it helps Obama, so what? The House Republicans are being asked to vote for the biggest expansion of government in our lifetime and our party's presidential candidate apparently can't say NO to it.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus