bailout bill vote

LikeAnOpeningBandForTheSun

wow, our representatives were voting based on fear of their constituents instead of party leaders and wall streeters.

if only every day was a month before the election...

Dirtie_Frank

ajedigecko wrote:

good post "....an economic enema." i like it, i have been trying to find an analogy for what has been going on and trump had it all along.

by the way.....why did you capitalize Enema?

I missed that I usually capitalize every other word. Just a habit from typing accronyms

g under p

DriftingByTheStorm wrote:

is this more laughter at the expense of my "misguided" "fearmongering" or what?

What's so funny, I don't get it.
:(

Not your post but what was posted about your post. Your post speaks of the truth.

Peace

teskeinc

Dirtie_Frank wrote:

I posted this in another thread, but looks like it can fit here too:

If it is such a great plan why did 94 Democrats also vote no? To blame this all on the Republicans is foolish. There are a lot of people that do not support this Socialist type fix. You point the finger at McCain but where is the mighty Obama? Not one Party is going to fix this; if it should be fixed at all. Donald Trump said this is like an economic Enema. Cleaning up all the inflated prices, for example oil. Oil dropped $10 today. Maybe we should hold onto this money and invest it in Off Shore Drilling and Alternative Energy Development. This would produce multiple jobs, also keeping Multiple Billions of Dollars in the US instead of sending the money to other Oil producing countries. I think this all would fix the economy the way it was meant to be fixed; by hard work not hand outs. Just my .02

I followed the events all day today and here is my opinion on the bailout whether you agreed or didnt.

Bush headed the team to institute this "plan"along with Paulson and co. Pelosi, leader of the Democratic house was sold on the plan. Last week only 4 Republicans pledged a vote of yes. Overwhelming , Joe Public hated this idea. The plan was presented incorrectly, and because of the distrust for our govt. 1000s of citizens voiced their disapproval to their reps. Who in their right mind would want to give 700 billion to companies that proved they couldn't handle it the 1st time.

Although the majority of our elected officials agreed we needed to take action , preferably before the markets opened today, not many members of Congress wanted to put the economy before their re-election bids in a month. Pelosi, as the leader of the majority , along with Obama knew that if the Democrats used their majority to pass this bill which an uninformed public, uniformly opposed, it would be campaign suicide for the Democrats, this includes Obama as he would have voted YES when it reached the Senate.
So Pelosi got McCain and co. to rally the Republican party and he managed to secure enough passing votes (which today was 64 ,up from 4) so that the Democrats running for re-election could vote NO but the bill would have barely enough YES to still pass. That way it would look bi-partisan and whether it worked or failed (no one knows) they could blame each other without any political fall out in the November elections.

The reason you want control of the House is so you can dictate the passing of these things. Pelosi and the Democrats grossly miscalculated the number of YES votes and then had the audacity to chastise Bush and the Republicans 5 minutes before the actual vote. Some think that caused the vote to fail. I dont , I just think they blew it , ROYALLY. So because the Democrats did not want to take responsibility if the "bailout" failed and were seen as fleecing America, and did not vote uniformly, and miscalculated Republican support. The bill FAILED. And we saw the carnage that ensued worldwide. I cant see it not continuing in the morning and at least through the week. You may see the Dow in the 8000 range at some point.

I dont necessarily agree we should bail out these companies, but money needs to be available for lending. Why doesnt the govt. set up shop and start making money available themselves? Let those companies absorb the losses and lose the failed management. The govt. should renegotiate new loans for those foreclosed, and lend to businesses and people who are credit worthy? All while making a fair profit that would go to pay down the deficet? I'm sure I'm off base or maybe that would be just too easy.

mammasan

Dirtie_Frank wrote:

I posted this in another thread, but looks like it can fit here too:

If it is such a great plan why did 94 Democrats also vote no? To blame this all on the Republicans is foolish. There are a lot of people that do not support this Socialist type fix. You point the finger at McCain but where is the mighty Obama? Not one Party is going to fix this; if it should be fixed at all. Donald Trump said this is like an economic Enema. Cleaning up all the inflated prices, for example oil. Oil dropped $10 today. Maybe we should hold onto this money and invest it in Off Shore Drilling and Alternative Energy Development. This would produce multiple jobs, also keeping Multiple Billions of Dollars in the US instead of sending the money to other Oil producing countries. I think this all would fix the economy the way it was meant to be fixed; by hard work not hand outs. Just my .02

You are right. No one should be blaming one party over the other. No candidate should be blaming the other. This is not a partisan issue though some politicians like Pelosi and McCain are making it so. The bail out is basically a plan to postpone the inevitable. If we do not fix our economy this will just happen again further down the road. Building a new economic infastructure, as you pointed out, is the only way to do this. I'm not an Obama fan but his idea of creating a "green" industry, one where we could build an industry to help support our economy and ween us off our dependence to foreign oil, is a great idea.

LikeAnOpeningBandForTheSun

i think the people who are to blame should be blamed so that they will be voted out in november. if you really want to fix the problem, figure out who is at fault and kick their fucking ass out of Washington.

evenkat

teskeinc wrote:

The Democrats are the majority in the Congress, why couldn't they get their shit together and vote the way their leader (the moron Nancy Pelosi) was directing?

When Pelosi spoke , she decided not to encourage members of both parties to vote for the bill, but to blast Republicans and blame Bush and how the Democrats were saving the day. Now shes back on TV pleading that we need a bi-partisan effort.

This just continues to show that our elected officials are not interested in whats good for the country, only what good for them financially and politically.

First the bill was something the White House was trying to push through congress not the democrats. It wasn't a bill by the democrats at all! It was Bush. Even John McCain tried to come to the "rescue" and supposedly had the backing of the majority of the republicans. He gave a speech right before the house voted on the bill saying it was going to pass because of his hard work. Remember he took a week off from his campaign to get the bill passed? Nancy Pelosi got about 2/3rds of democrats to vote for it but Bush and McCain only got 1/3rd of the republicans to vote for it. It is a very unpopular bill for many reasons and it is an election year so if it is going to pass, it needs to be bi-partisan.

Everyone was saying the bill was going to pass. I think the republicans tried pull a fast one and have the bill passed by the democrats to create a backlash against the dems for the upcoming elections but it didn't work. Now they have egg on their faces.


Anyhow I know something needs to be done but it really sounds like corporate welfare to me.

DriftingByTheStorm

evenkat wrote:

I think the republicans tried pull a fast one and have the bill passed by the democrats to create a backlash against the dems for the upcoming elections but it didn't work. Now they have egg on their faces.

Many republicans did not vote for the bill (just like many democrats) because believe it or not, in the house at least, many republicans are honest to god FISCAL CONSERVATIVES, and could not in good conscience vote for a massive liability against the American public.

Similarly, many (on both sides of the aisle) opposed this bill for the simple reason that they recieved over 2000 calls a day, with 98% of those voices from constituents being AGAINST the bill. In otherwords, they were keeping their word with the voters in their districts.

Further, from what i understand after having listened to a lot of the debate on the floor yesterday, another key reason Republicans were opposing this bill was because they had in fact proposed what they thought (and from the Democratic speeches i heard, even many Democrats though) was a better, more taxpayer friendly bill ... a bill which was rejected in favor of the one they were then forced to vote on.

Not everything is abject partisanry.
Sometimes people are just trying to do the right thing.