$100 billion on top of the $700 billion? What is going on here? Goodies for all.
This thing will end up costing a trillion with all the add ons. That will show us peons for calling to voice our complaints.
Better yet, one of my Senators is Bennett, you is fourth on the list for Fannie Mae and Freddie Mac contributions. Gee, I wonder what he'll support...
If anyone else wants to see how much Congresscritter has taken in from our lovely GSE's take a look here:
Open Secrets: Fannie Mae and Freddie Mac Invest in Lawmakers
Turning a pig into a turkey...
I understand why American taxpayers who are actually paying attention to what happens with THEIR money would instinctively be angry.
As a Milton Friedman disciple, I’m inclined to say let Darwinian rules apply and let the chips fall where they may. Once the mushroom cloud settles, we’d all be better off.
That’s easier said than done. This is not about the EEEvilll Wall Street folks. You’ve all seen the video about the egalitarian social engineering leftists who got us into this mess by pressuring banks to loan money to the homeless (it’s right there on FR when you log on).
There is plenty of time to sort out who caused this mess. There are plenty of villains.
It’s all fun and games until you can’t get a home, car or business loan. Than it hits Main Street.
I would love to see what exactly is in this bill, but it sounds like we won't have much time to do so before they try to run it up for a vote. I would like to withhold judgment until I see the bill contents, but this is thing sounds like another game of pass it before anyone can read it.
Get ready to flood the Senate with calls tomorrow (at least asking WTH they're voting on).
What an absolute steaming pile of SOCIALIST HORSESHIT. Idiots!
The SOBS are not going to quit until they get what they want. I am sick of having my pocket picked by this crowd.
I am done.
OMG! These bastards are pushing through the same trash from yesterday. The House is working on their own plan, which might be very close to HR 7223.
What they should propose is a $700 billion dollar tax cut split between businesses and consumers. Cut corporate tax rates, cut cap gains taxes and cut marginal tax rates. 5% reduction in government spending across the board.
Of course, the Senate can not originate a spending bill, only amend one that comes from the House.
Voting to amend a defeated bill does not cause it to come back up for a vote in the House - it remains a defeated bill.
Oh goody.
Free money.
The thieves will loan more of our tax money to each other.
/s
FR Keyword: moneylist
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The president and the press insist the economy can’t live without a bailout. That is a stinking pantload! You do bad business, allow yourself to get caught up in the hype of sub-prime mortgages, and guess what? You crash and burn!! What happened is exactly what should’ve happened.
They don’t deserve $700 billion, they deserve jail if anything. I don’t care if the goobermint was pressuring them or not. Business sense should’ve steered them right. They threw common sense to the wind and got burned. I’ve got no sympathy!
Work-out not Bail-out
Eliminates the Credit Crisis: Suspends Capital Gains Tax to immediately free up huge volumes of capital
Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers
Eliminates the MBS drivers behind the Credit Crisis:
· Requires Industry-funded Insurance for Mortgage-Backed Securities (MBS) that guarantees losses to attract Private MBS Buyers
· Suspends Mark-to-Market Accounting that effectively froze MBS assets from being sold and multiplied capital requirements for Banks
· Provides Loss Write-offs for MBS Sellers to price them at market and incur the losses needed to pull capital from their MBS assets now
· Requires all future MBS to meet full regulatory requirements and provide complete, transparent documentation for assessment of risk and value
Eliminates the Crisis Perpetrators behind Bad Mortgages and MBS Problems:
· Privatizes Fannie and Freddie GSEs to eliminate the sources of the problem and prevent Congressional kick-back schemes
· Refocuses the Fed from short-term economic growth that drove economic boom-and-busts, to long-term price stability that controls inflation and sustains the dollar
· Prosecutes Corruption and Constrain Compensation for Industry-Executive Perpetrators
Link:
http://mikepence.house.gov/UploadedFiles/RSC_Economic_Rescue_092908.pdf
The bill failed because it had too much crap in it ... so they add more crap to get it to pass !!
(Helloo ...) anybody listening up there? Did it ever occur to you to remove stuff from the bill to get it to pass, rather than just adding more stuff ??
... yeah ... I know ... it's a dumb question.
MESSAGE TO CONGRESS---NO PORK PERIOD.
Do NOT legislate a bailout with PORK and SWEETENERS for a select few connected insiders. Americans demand a c-l-e-a-n bill to resolve the problem. Americans DEMAND to see the bill before any votes are taken. Americans demand the bill be widely publicized via print and broadcast media....... and on the i-net.
MESSAGE TO CONGRESS
It is an outrage that Barney Frank and Chris Dodd are still fronting the bill. Americans are appalled to see the same old insiders salivating to grab a piece of the action for themselves and their cronies. Remove Frank and Dodd now. If Frank and Dodd are not removed, America cannot trust the government to do the right thing. - NO BILL if Barney Frank and Christopher Dodd are not removed.
===================================================
Capital Hill toll free :
800-965-4701 ----- 800-828-0498 ------ 888-802-1207
Capitol Hill Switchboard
202-224-3121.
Article 1, Section 7 of the United States Constitution states: "All bills for raising revenues shall originate in the House of Representatives".
Since the "Bail-Out" CLEARLY is a bill which "raises revenue", is it not un-constitutional for the SENATE to originate the bill. The House already TRIED to originate a bill and failed.
I am probably WRONG, of course, because I have this terrible habit of reading the WORDS in our Constitution and assuming they mean EXACTLY what they say. I also tend to assume that in the case of a question regarding interpretation, the CORRECT interpretation is the one that LIMITS the powers of our government the MOST. Call it a character flaw if you will, but I think it's a little late in my life to change it now.
;^)
They announced the vote will be at 7:30 eastern.
They porked it up....it went from 3 pages, to 110 pages, to 300 plus pages!
They were saying there was a tax break on wooden arrows on Fox Business News.
The Senate is one CORRUPT body politic...