Posted on 09/29/2008 1:53:23 PM PDT by TenthAmendmentChampion
A number of Republican House members and staff, along with others who are plugged in, are telling me that Nancy Pelosi and the Democrats will come back with a new bill that includes all the left-wing stuff that was scrubbed from the bill that was defeated today in the House.
As this scenario goes, the House Democrats need 218 votes, and they have to pick up a number of black and Hispanic House members who jumped ship because the Wall Street provisions, in their view, were too benign. So things like the bankruptcy judges setting mortgage terms and rates, the ACORN slush-fund spending, the union proxy for corporate boards, stricter limits on executive compensation, and much larger equity ownership of selling banks through warrants will all find itself back in the new bill. Of course, this scenario will lose more Republican votes. But insiders tell me President Bush will take Secretary Paulson’s advice and sign that kind of legislation.
Personally, if this scenario plays out, I would probably withdraw my support for the rescue mission and switch to plan B, which would center on the FDIC and its bank-recapitalization powers. The bank-ownership issue, in particular, could lead to heavy nationalization of America’s financial system with a three-house Democratic sweep in November.
I’m not forecasting, because I don’t know the next bill’s content. And while McCain’s polls are heading south, he could still win. But a three-house Dem sweep to implement some off the very onerous provisions being talked about could set up the end of the U.S. financial system as we know it.
I’m gonna wait and see. Obviously, the financial markets are in total collapse today. And the economic outlook is suffering.
Tough day. One of the worst I can remember.
She might try, but it will not fly and she will be seen for the partisan marxist that she is! The American people are not all stupid!
Let ‘em all sink. It’s time to embrace the horror. We should take this bad tasting medicine now and get it over with rather than drag this out for years with what will become the most massive government boondoggle in American history.
If you want the entire turd sandwich, be my guest.
The said the same thing after the AMNESTY bill collapsed.
I hate to say it, but this is what I thought all along. The GOP was going to fight against this stuff, not vote for the final compromise - and then find itself facing a far worse bill that actually will pass handily, because it doesn’t even need the GOP to pass.
One of the reasons some Dems didn’t vote for the compromise is that this stuff was stripped out of it. But they’ll all be on board with the new bill.
W and McCain have the Dems in a box.
Yeah, with the result that nothing has been done yet and Obama is going to do whatever he wants with it, and you’re not going to like it. That’s what having your hair on fire does to you.
If they do this....expect Republicans who voted for it to jump ship........there where 65 of them who voted yea. The question is how many of the Democrats who voted ney willing to change their vote to yea but are worried about getting re-elected especially if their constituents have been screaming .......no bailout.
Second comment ~ in a Parliamentary system Pelosi would have called for new elections and stepped down. In Medieval Japan she'd asked the President permission to commit seppuku.
Third comment ~ why isn't AG Mukasey working on getting some indictments on Barney Frank and his little friends who appear to have "looted" the bank ~ he has plenty of time for part time petty chisler's like Rep. Jefferson, but why not Barney? Is it the "gay thing" or something. We need some action on this front.
I wonder how many companies are using today's market colapse to buy back shares of their own stock.
Wow...you’ll probably see a few more Republican “Nay’s” if the lib pork gets added back in. This will be a completely partisan bill at that point, and could actually be a good thing for the election.
IF this happens, it could actually be a blessing in disguise.
Interesting point. Did Pelosi torpedo the bill so she could get something more to her liking? But, if the Republicans all vote no and a few conservative dems (who want to keep their jobs) go with it then she won’t be able to do it.
Bush needs to be told that the American people are overwhelmingly against this. If he wants to go into retirement as the pariah of the republican party then by all means sign it.
Yup we’re gonna see the ACORN money back in and a lot of Dems will be on board.
Financial Ping
Wow...you’ll probably see a few more Republican “Nay’s” if the lib pork gets added back in. This will be a completely partisan bill at that point, and could actually be a good thing for the election.
IF this happens, it could actually be a blessing in disguise.
“One of the reasons some Dems didn’t vote for the compromise is that this stuff was stripped out of it. But they’ll all be on board with the new bill.”
46 blue dog moderate/conservative dems will never for this bill because if they do the Repubs will win the majority back this cycle. I highly doubt that most of the other 48 dems who voted against the bill will change their votes because if they do and the plan fails, which it would, they will be blamed for it. If Pelosi was going to pass a dem only bill she would have done it, she’s knows politically that it’s impossible.
Yeah but all of that ACORN spending would be very easy for 41 Republicans in the Senate to block from getting cloture.
I don't think I'm exaggerating when I say that we're seeing the rise of CPUSA, and they smell blood in the water.
Just look at Obama's attempted legal threats against his opposition. He's running for dictator. Thin-skinned, supremely arrogant and clueless.
If the Dems propose and manage to pass their bank take-over bill, Obama will lose and the GOP will start to regain Congress. This bill will never get fully implemented.
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