Bailout Defeat Due To Loss Of Political Credibility

Yahoo News ^ | 9-30-08 | Michael Scherer

[mombyprofession]

There was a lack of trust, a loss of confidence, a popular revolt.

Nearly every major political leader in the U.S. supported the $700 billion financial-bailout bill. The President. The Vice President. The Treasury Secretary. The Chairman of the Federal Reserve. The Chairman of the Securities and Exchange Commission. The Democratic and Republican nominees for President. The Democratic and Republican leadership of the House and Senate. All of them said the same thing: vote yes.

But a majority of those politicians anointed by the Constitution to reflect the will of the people voted no. This is a remarkable event, the culmination of a historic sense of betrayal that Americans have long felt for their representatives in Washington. The nation's credit crisis on Monday exposed a much deeper and more fundamental problem: a crisis of political credibility that now threatens to harm our nation further, should the markets freeze up and more companies begin to fail, as many experts predict.

The problem has been growing for years. Roughly 28% of Americans approve of President Bush. Roughly 18% of Americans approve of Congress. Now those low numbers and majority of bad feelings have manifested themselves in the starkest of terms.

[mombyprofession]

What, the people don’t trust the politicians? But why ever not? /sarc

[cripplecreek]

But a majority of those politicians anointed by the Constitution to reflect the will of the people voted no.

I'm thinking it's a habit that should be encouraged vigorously.

[wideawake]

What it tells us is that those crybabies who are always yammering about how we no longer have a republic and that a revolution is coming and yada, yada, yada are wrong.

Our elected representatives obeyed the will of their constituents.

Whether the constituents were right or not remains to be seen - but their voice was heard. As it was on the immigration bill.

[healy61]

Heads should role like July 14th in France.

[healy61]

role = roll. duh to me.

[yldstrk]

The leaders must acknowledge, it appears, a deep anathema to the socialist idea. Also, the Congress reflected for the second time in as many years an American shout—we will not have amnesty for illigal immigration, and we will pay mortgages for those who won’t.

Americans refuse to be taken advantage of.

[cripplecreek]

Like I say when I do that. Screw the spell check, I need a stupid check. LOL

[avacado]

LOL!!! Now that was damn funny!

[yldstrk]

will NOT pay mortgages for those who won’t

[familyop]

China stock indexes are starting to go down. ;-)

[Man50D]

The ratings for Bush and Congress are low because the GOP has incrementally over the years been more accepting of socialist ideals to expand the GOP voter base. They are essentially one party ideologically and therefore get the same negative response from the people.

[Tublecane]

“Heads should role like July 14th in France.”

I don’t know. That didn’t work out for them all that well.

[Dick Bachert]

[RegulatorCountry]

Heads should role like July 14th in France.

The French Revolution served as a role model for the sort of revolution that led to ... socialism.

[Lady Heron]

But a majority of those politicians anointed by the Constitution to reflect the will of the people voted no. This is a remarkable event, the culmination of a historic sense of betrayal that Americans have long felt for their representatives in Washington. The nation's credit crisis on Monday exposed a much deeper and more fundamental problem: a crisis of political credibility that now threatens to harm our nation further, should the markets freeze up and more companies begin to fail, as many experts predict.

This is nothing more than propaganda and a total lie to what really happened. All of the major politicians might have wanted this bill, but the American people were screaming no! Those politicians who actually voted no did so at their voters request and did their will, and the rest betrayed 80% of the voters who thought this was a rotten deal.

[yldstrk]

I still like Bush.

[MissyPrissy]

My level of disgust and distrust for politicians has reached a level I can't seem to shut up about. Career politicians eventually gain so much power that they are hard to unseat and yet they are the most corruptable. Are term limits one solution to truly handing this government back over to the people it's supposed to represent? If so, I can't think of a better time to get really serious about this and start that ball rolling hard.

[liberty_lvr]

Unfortunately, no.

The measure was blocked on Monday only through the efforts of a few brave and patriotic GOP House members, plus the cowardly and craven dims up for reelection in vulnerable seats.

Too bad it was all to no avail. They're about to get rolled by their superiors in the Great Imperial Senate tomorrow night. 60 votes needed for passage of the new amended bill and I'll bet the bill passes with a vote of 100-0.

[liberty_lvr]

Oops, make that 99-0-1. I forgot our future Dear Leader will only deign to vote “present”.