Posted on 09/28/2008 3:35:48 PM PDT by kristinn
The cable news networks are standing by for a press conference by House Republicans on the bailout bill. It should start some time after 6:30 p.m. EDT.
If it works, dems will claim this as their own. If it doesn't work they'll call it the Bush Bailout Bill and hang it around the Republicans's neck. The add insult to injury, the MSM will carry whatever water the DNC tells them to carry.
Doing nothing is absolutely not the right thing.
To begin with, the Federal Government bears a heavy responsibility for this crisis. After all, they’re the ones who coerced the banks into making many of these underlying loans - and they’re the ones who passed the onerous taxes and regulations which drove capital into marginal areas.
“Doing nothing” might be the correct response in a purely free economy. But that isn’t where we’re coming from here. That’s the first thing.
If we pass this, we can end the crisis for now and probably get McCain into the White House. The likely windfall to be reaped from liquidating these distressed securities will be enough to actually fund major reforms and to put the Federal Government on a sounder financial footing without raising taxes.
I believe the goods were had on Fannie and Freddie in March. However, please note this, from an Australian source: Clif Droke GSR snippet
May 19, 2008
“A rumor is swirling around the Internet that an inglorious end to the U.S. economy is imminent. Unlike previous rumors to this effect, this one carries the weight of recent events in the financial realm and has many believing the rumor will come to pass.
Let’s examine some of the claims being made: On March 18, 2008, a “closed door” session of Congress was held for only the fourth time in history. According to House Rule XVII, clause 9, it is forbidden for members of the U.S. House of Representatives to reveal the discussions held behind those doors. The penalty for leaking such information includes loss of seniority, fines, reprimand, censure or expulsion. According to news sources, one purpose of the meetings was to discuss new surveillance techniques to be used by U.S. Homeland Security. Rumors continue to swirl as to what the other topics of discussion took place in that meeting.
According to the Australia.TO newspaper, as reported in the May 2008 Last Trumpet Newsletter (LTM), several congressmen were so incensed about what was discussed behind those doors that they were compelled to leak the contents of the meeting. Following is what is rumored to have been discussed: Imminent collapse of the U.S. economy by September 2008; imminent collapse of the U.S. Government finances by February 2009; possibility of civil war within the U.S. resulting from the collapse; detainment of “insurgent U.S. citizens” in anticipation of their moving against the government; the potential for violent action taken by citizens against members of Congress due to the collapses; the merger of the U.S. economy with those of Canada and Mexico as a solution to the collapse; the introduction of a new tri-national currency called the “AMERO” as another economic solution.”
Probably sleep deprived, poor guy. None of them can talk straight and they look rumpled.
They need a nap.
(B) 35 percent shall be deposited into the 7 Capital Magnet Fund established under section 8 1339 of that Act (12 U.S.C. 4569)
That’s the old one. here is the new....http://michellemalkin.com/wp/wp-content/uploads/2008/09/ayo08c04_xml.pdf
No ACORN.
May I say ditto and AMEN to your post? Prayers, people!
What’s your point? If passing this thing will save the world, the RATS can pass it all by themselves. They don’t need any Republican votes.
If the stock market crashes, which it will if we don’t pass this, Obama gets elected. That’s blindingly obvious.
When a man like Hussein and his comrades have access to US intell, security secrets, the military, Dept of Justice, and our treasury, it will be much, much, worse than Carter or Clinton.
Republican “revenge” will not matter once a man who has no loyalty to the US, puts his army of anti-americans in every bureaucracy of the US Government.
No matter what they choose to do with this bill, the must fight like hell to expose the Democrat Party that brought us Fannie and Freddie.
He is a democrat and a friend of Chuck Schumer...which begs the question...why in the name of all that is logical did Bush nominate him...let me answer my own question. He craves acceptance from democrats so he can say “They like me, they really like me”.
They could come out with public demands, say they can’t support it without these changes, and let the Democrats pass it on their own—but I don’t see that happening!
That’s the old bill. Acorn is gone in the new one. But we’re still bailing out China, Britain, Switzerland, Germany, etc. in the revised bill. It’s still criminal.
http://cdfi.org/uploads/other/Capital%20Magnet%20Fund%20Overview.pdf
The 35% may already be mandated by existing law, if I understand the language on this link.
Bush needs to fire Paulson, it is time to fight!!
Stop drinking Kool Aid. It is still there.
That’s the old one, here’s the new, no ACORN...
http://michellemalkin.com/wp/wp-content/uploads/2008/09/ayo08c04_xml.pdf
Rather than acting liking a flaming *hole, why don’t you try to post substantive, documented facts and then give us a rational line of argument as to why the bailout bill needs to be passed?
“You can take your first bullet point off. ACORN is not included in the final bill.”
Correct me if I am wrong, but isn’t ACRON funded through the “Housing Trust Fund”, which is in the bill on Page 22? 65% goes to the HTF.
FOX has been campaigning for Obama all day long!
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