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.
There going to come out and say they have enough members for it to pass..
Nonsense. There is no way to assess whether an impending meltdown will be deterred by this legislation. IT IS NOTHING BUT A HOPE!
Because the need for the bill is so self-evident that only a moron or a person totally indifferent to the real-world consequences of their actions could oppose it.
Not me!
You keep saying WE have to pass this. The republicans have no say in it what so ever,the dems can pass it without help. They simply want the republicans to share the blame when things go south later on. If the Dems fail to act, BozObama will take just as big a hit as McCain will. It is up to the dems to pass it or fail it, you can quit being hysterical anytime now because the majority of us are simply not buying into it.
TRANSFER TO TREASURY.—Revenues of, and
8 proceeds from the sale of troubled assets purchased under
9 this Act, or from the sale, exercise, or surrender of war10
rants or senior debt instruments acquired under section
11 113 shall be paid into the general fund of the Treasury
12 for reduction of the public debt.
Oh really? Please share.
Okay....THIS link looks like something new. I read it over quickly.
ACORN is NOT in there. However there is reference to sending troubled mortgagees TO such as ACORN for help with mortgages about to be foreclosed.
The pubbie insurance thing IS in there.
That bit about caps on CEO for CEO’s that have nothing to do with this seems to be gone....socialistic nonsense.
One thing that I noted that the pubs evidently gave up is that provision that the Sec. of Treasury can help prevent foreclosures by reducing interest rates for mortgages about to default or perhaps reduce the principal balance. The pubbies wanted this removed but it appear to have made its way back in. I suppose so long as oversight includes pubbies instead of just the party in charge...IE the Dems...it will be okay. This is a provision the pubs felt was rife for corruption.
Basically the compromise as I very quickly read looks like the pubbies got their way. However...
WHERE ARE THE REPUBLICANS???
McCain - (paraphrasing)...I am back in Washinton because I am not going to “phone it in”.........LOL
You have no proof of any of these assumptions. And read my tagline.
Huh? C-Span is live now, but they’re showing Charlie Rangel blathering on. Are there any Republicans in Washington, or is this going to be a RAT marathon?
http://www2.nationalreview.com/dest/2008/09/28/ayo08c04xml.pdf
K Lo just posted this- it’s the House version.
I think that’s been taken out, but my read on your link is that the 35% was only mandated for Freddie and Fannie profits—which we shouldn’t be seeing much of for some time at least.
Has the final bill been released yet? The one i got that ACORN mention from was supposed to be the latest.
I bet you there’s a lot of arm twisting going on.
I refuse to believe that until I hear it! I just can’t =(
Guess you better head for the ATM . . since I do not consider myself a moron... Pubs need to kill this monster..
Vanity sort of :Canadian citizen here. My son just graduated from business school McGill University ...His take on it...The American public is going to pick up the tab for all foreign banks that engaged in these risky practices.NOT FAIR.
I put a link to Wikipedia here at this posting that says he is a Republican. I know Wiki can be wrong, but so far I haven’t found any other source or article that says what party he is from. I will keep searching.
The problem with the insurance thing is that it is mandatory only that Treasury establish it as a program. No companies are going to opt for that route because it will cost them money — as opposed to having Treasury just buy their bad paper from them.
The House GOP has been deceived by this “mandatory” language in that Treasury is only required to establish the insurance program — not force companies to choose it in lieu of the bailout money, which of course they will all choose.
No moron considers themselves to be a moron, even when the evidence is right before their eyes. That’s attributable to the fact that they are self-evidently stupid.
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