Somehow these guys didn't have to resort to fear to get the JOB DONE.
Posted on 09/29/2008 8:18:14 PM PDT by pissant
Republican presidential candidate John McCain had sharp words for Congress, it the wake of the defeat of the financial system rescue plan.
"They wiped out $1.2 trillion today," the Arizona Senator told KARE 11, "Congress's failure to act today is not acceptable."
Despite pleas from President Bush and Treasury Secretary Henry Paulson, lawmakers rejected the bailout bill by a vote of 228-205. By the time the New York Stock Exchange closed, the Dow Industrial average had plummeted 777 points.
Answering questions via satellite from Des Moines, Iowa McCain chided those from both sides of the aisle who opposed the plan.
"This is a time of severe crisis, maybe the greatest crisis of our life time," McCain told KARE, "Our failure to act is going to cause problems not only in America, but globally."
Some opposed the package because it didn't do enough to directly address the hardships faced by those stuck in with mortgage foreclosure troubles and, in some cases, predatory loan rates.
Other resistance came from those who are fundamentally opposed to such a massive influx of government aid, at a time when the United States treasury is already straddled with record debt.
Still others remain unconvinced that buying up lenders' bad debt bring trangible results to average people when it comes to easing the credit crisis.
(Excerpt) Read more at kare11.com ...
Woops: disability should have been deniability.
Somehow these guys didn't have to resort to fear to get the JOB DONE.
“Do you recall the S&L bailout ?”
Yeah, didn’t it cost us $125 billion, and maybe a recession?
By the way, where was the FSLIC and its “insurance” once things went bad?
If you want Big New Deal type government do not pass a bill and allow a Credit Crush and Market Crash. I bet you the blue collar workers in Mike Pence distance will run him out of office so quick for a Dem it make you head spin.
McCain needs to wake the hell up. Up until this point he had made near perfect strategic choices. The American people don’t like this bailout and John McCain isn’t going to make them like it. He need to get with the GOP and offer an alternative because this bill is only going to get worse if he doesn’t. The next version of this bill will be stuffed to the gills to accommodate the Democrats who wouldn’t vote for this the first time because there were no goodies for their constituents who are mostly the ones saddled with subprime loans. Pray for this guy to get it. If he goes back to Washington and tries to play this in the middle he is dead. People like John McCain because he doesn’t play the middle of the road. Someone needs to sit down with him and explain the situation. I saw John Kyle doing the same damned stupid thing today. The Democrats are attacking and too many in the GOP act as if they are either too dumb or too elitist to fight this out. They had better do the right thing on this or Obama will be President.
i can understand the things that are wrong, and who profited unjustly, but it appears to be such a mess that these mortgage banks and the govt. got into. i would like those who scammed money off the top have to pay it back or be charged for fraud, something.
....................................McCAINS HERO
Teddy Roosevelt, the president with the big stick, would turn over in his grave to hear that McCain, Teddy Roosevelt is McCains hero, only wants to secure the borders. TR said a nation has to have borders to be a nation. paraphrasing
Well then say hello President Obama and the utter destruction of our country. I don’t like or want this bailout, nor do I want Obama for the next eight years. I will crawl over broken glass to vote for McCain.... Paulson and the dems are the problem here, not McCain, get your heads out of the sand.
My history teacher once told me that without the New Deal, the U.S. would have had a communist revolution. I say if a market crash caused by government intrusion necessarily leads to further government intrusion (call it the iron law of panic), maybe the people don’t deserve a free market.
I know what will happen if Obama is elected and our currency goes bust. He won’t wait around for us to recover (like he ought to); he’ll expand the federal government by a factor of FDR times two. When things get worse, he’ll blame the free market again, and people will eat it up. I know that’s the way it works. When things go badly, socialists clamor to throw gasoline on the fire.
But you’re assuming we will crash. Maybe we won’t.
Why do people spout such nonsense as though the product of market share price times number of shares outstanding is any measure of anything?
You blew it McCain.
McCain needed to come through as someone who would stop the Democrats from passing a fundamentally bad bill that would reward the crooks who created this mess. This bailout is the largest swindle in the history of the world.
I know you were a Hunter guy, but wouldn’t it have been nice to have a Mitt Romney as the nominee right now as opposed to a man that by his own admission “doesn’t know much about the economy?”
***Most of us Hunter folks are on board because of Palin. So your post simply begs the question of who the VP nominee would be? If it were Palin or Hunter, I’d probably be on board with that. But what’s the point, trading in one RINO for another? Romney would weather this storm better, but there would be others he wouldn’t weather better. He was a windvane, after all. When the race is between two windvanes, usually America follows the lazy path of whomever the MSM coronates. Romney couldn’t handle it when the press criticized him — he would have flipflopped all over the place when the press turned on him.
Tell me that after Obama’s first SCOTUS nomination. That “fear” will be palpable then. The market crash is not “normal.”
Reports are that mail flooding in to congressmen is 99 to 1.
And I would venture that includes a much larger sample,
of people actively involved than Rasmussen can muster.
“Well then say hello President Obama and the utter destruction of our country”
If FDR and LBJ didn’t destroy our country, Obama won’t. We’ve lived through Wilson, FDR, Kennedy, LBJ, Carter, and Clinton (who, I must say, looks pretty good in comparison). There is much ruin in a nation.
You are probably right. The Democrats have successfully shoved ALL the blames to the Republicans. Hence the worse the economy gets, the more people will hate Republicans.
The last thing the Dems want is to have the Dow resurge to above 12000 by election day.
I don’t know what to think now, I have exceeded my political computational power on this one.
99-1? Doubtful. But that is not a scientific survey.
Did you read the entire FAILED BAILOUT Vote was a Pelosi and Dem party SET UP to get Obama elected !!
They want the markets to collapse to get Obama elected.
***Interesting take. It happens to align with my preconceptions, so I’m real wary of jumping on board too quickly. Where is your supporting material for this?
“Teddy Roosevelt, the president with the big stick, would turn over in his grave to hear that McCain, Teddy Roosevelt is McCains hero, only wants to secure the borders. TR said a nation has to have borders to be a nation. paraphrasing”
As much as I like the guy, TR was a progressive, which is to say he was a statist. We all love the national defense side of statism, but I’m afraid the remainder is too much to bear.
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