The White House doesn’t have a vote.....
The title is somewhat misleading. I am glad I read the article.
1. Jimmy Carter 2. Bill Clinton 3. George Bush. In that order, but I know debatable.
It says right here that in roughly 100 days the White House will show a new profile, regardless of how this election goes. Who cares what the current occupant favors?
Of course they won’t support the House bill. It isn’t socialism
I’d really like to see the Senate not pass the bailout. Though the bill keeps getting better. Now it has pro-business tax relief which is good. I’d like to see it go down again but I get the feeling this thing is going to pass in the Senate though I see Mich McConnell really shaking in his boots about this. The White House not supporting the the alternative isn’t necessarily a bad thing. I think there is an opportunity for the GOP and McCain if they will seize it. You take an alternative to the American people that has accountability at its core and the people will cheer.
Paulson is a leftist plant, IMHO.
If W. knew what he was doing... well why try to finish that sentence?
The 700 billion dollar bail out costs each and every American about 2400 dollars.
Thanks, George.
The Beltway Party ignores the Republican Party.
Presumably this is what Bush chiefly opposes. But without making Fanny and Freddie and the rest accountable, what on earth good will this bailout do? They'll just run out and make more bad loans to Democrat voters, and we'll have it to do all over again.
It's a shame McCain won't take a stand with them.
Not to oversate the obvious but isn’t insurance on mortgage assets, i.e. credit default swaps, what helped get us to where we are now?
Would the Gov’t be required to post collateral against losses on the underlying mortgages, would this add to the national debt or simply be held off-balance-sheet, an action by the way that would land a CFO in prision.
Bush. (spit)
The minute GW voices any support for anything, it’s dead!
Mr. President, it is clear where you are coming from, and where you want the country to go - belly up to the New World Order. I know what a Republican is, Sir. And you are no Republican!
GWB is a fool if he really believes the Dems’ backroom promises not to throw him into jail next year if he goes along with this. He’s not going to have a happy retirement.
Go back to Texas George and have a happy retirement...I know you meant well but...I'd just as soon never see you again.
From Congressman David Scott - Why dems voted no:
Dear Friend:
Thank you for contacting me regarding H.R. 3997, the Emergency Economic Stabilization Act. I appreciate you taking the time to share your views with me. The opinions and concerns of my fellow Georgians are an essential component of my decision making process as a Member of Congress.
I understand your views about H.R. 3997, which was a bipartisan effort to help stabilize the economy and preserve homeownership. Unfortunately, this bill did not include enough protections for taxpayers. Nor did it include provisions to ensure some help for the thousands of Americans facing foreclosure. While the legislation was modified as to break up the $700 billion into incremental allotments, the legislation was still a blank check for Secretary Paulson. The foreclosure mitigation provisions were not mandatory, and I worried that if these provisions were simply voluntary, those in charge of rolling out the plan may choose not to help the thousands of Americans facing foreclosure. You will be pleased to know I voted against this legislation, which failed to pass the House by a vote of 205 to 228, and I will be sure to monitor any changes or actions to improve upon the current version.
As far as negotiations on the bill are concerned, congressional leaders are behind closed doors hammering out a new version, and we could be back in session as early as this Thursday with a new bill. I am hopeful additional stipulations for America’s homeowners will be included. With some 6,000 foreclosures each day, more must be done to not only stabilize the financial markets, but also stabilize our nation’s communities. I have joined with my good friend from California, Congressman Joe Baca in devising a further plan to help those facing foreclosure which includes setting aside 1 percent of the $700 billion for a home-loan programs similar to the one set up by President Franklin Roosevelt. Similar legislation was enacted during the great depression known as the Homeowner’s Loan Corporation (HOLC), which was established to refinance homes in the hopes of preventing foreclosure. The goal of this plan, the Family Foreclosure Rescue Corporation (FFRC), would be to prevent homelessness and help families that may not receive help from current laws or initiatives. The plan would also include a member board selected by Congress. Qualifying families would need to apply to the FFRC for a new loan, and families would still pay a monthly mortgage payment but with a set interest rate.
In the next version of this legislation, I want to extend relief to homeowners whose outstanding mortgage indebtedness exceeds the value of their home due to recent declines in the market. We must ensure neighborhoods are stabilized by reducing these foreclosures and the downward impact this housing debacle is having on home price created by the continued threat of widespread foreclosure. Furthermore, the plan will be done in a way that is efficient with a minimal cost to the taxpayer, with corporate profits being returned to the Treasury. Please be assured, as negotiators continue to work towards a new consensus on this legislation, I will be sure to share your views with my colleagues should the full House again debate and vote on a new bailout bill.
As I mentioned, your input is vitally important to me. I hope you will continue to give me the benefit of your opinion in the future. Please be assured, I will keep your views in mind as the full House considers various issues in the 110th Congress. Furthermore, I encourage you to visit my website at http://davidscott.house.gov where you can view the latest news and updates about pertinent issues and legislation important to you. You may also sign up for my electronic newsletter and receive periodic updates on my activities as your representative in Washington. As always, my staff and I are here to serve you. Please feel free to contact us if we ever can be of further assistance to you or to share your concerns.
Sincerely,
David Scott
Member of Congress
Now dat der is a reel shocker!
GW not supporting Republikens. What is de Wurld koming two?
Who cares what the “White House” has to say. Bush is nothing but a whore for Goldman Sachs. He is a pathetic shell of a man. McCain needs to run against him to win.