JPB
 
  2  
Reply Mon 29 Sep, 2008 12:39 pm
CNN just said that "many voting against the plan" wanted to vote their conscience and vote yes but felt their constituency wanted them to vote no.
cicerone imposter
 
  4  
Reply Mon 29 Sep, 2008 12:52 pm
@JPB,
You mean congress is finally listening to their constituents? LOL
JPB
 
  2  
Reply Mon 29 Sep, 2008 12:55 pm
@cicerone imposter,
Election day is a few short weeks away.

God, I hate politics!!!
cicerone imposter
 
  1  
Reply Mon 29 Sep, 2008 12:58 pm
@JPB,
Since McCain's leadership skills on this bailout plan has been exposed, he now wants to warn Americans about a possible Obama presidency:

Quote:
McCain says Obama policies will deepen recession

By DAVID ESPO, AP Special Correspondent 1 hour, 23 minutes ago

COLUMBUS, Ohio - Lagging in the polls, Republican presidential candidate John McCain unleashed a blistering attack Monday on his Democratic rival, saying the race comes down to a simple question: "Country first or Obama first?"

In his first public appearance since Friday night's debate, McCain said Democrat Barack Obama advocates tax-and-spend policies that "will deepen our recession," and voted against funding for equipment needed by troops in Iraq and Afghanistan.

"That is not putting the men and women of our military first," he said.

McCain stressed his own record of opposing Republicans on key issues, and said, "When it comes time to reach across the aisle and work with members of both parties to get things done for the American people " my opponent can't name a single occasion in which he fought against his party's leadership to get something done for the country. That is not putting the interests of the country first."

Obama's campaign issued a swift rebuttal that accused McCain of an "angry diatribe" that it said "won't make up for his erratic response to the greatest financial crisis of our time."

The Arizona senator spoke at a joint rally with running mate Sarah Palin, who said she is looking forward to this Thursday's debate with Sen. Joe Biden of Delaware.

"I've been hearing his speeches since I was in the second grade," the 44-year-old Alaska governor said of her counterpart, who is 65 and a veteran of more than 35 years in the Senate.


McCain's rhetoric continues to belie his own motives.
0 Replies
 
Debra Law
 
  1  
Reply Mon 29 Sep, 2008 01:03 pm
Pelosi speaking right now.
0 Replies
 
Green Witch
 
  4  
Reply Mon 29 Sep, 2008 01:04 pm
The last time Bush told everyone to vote "yes" NOW! and ask questions later we ended up Iraq. I'm fine with a slow down of this monster proposal. It's all another scare tactic from the masters of scare tactics.

roger
 
  2  
Reply Mon 29 Sep, 2008 01:22 pm
@Green Witch,
Scare tactic? It's working, but you're right. The time to ask questions is now.
0 Replies
 
CalamityJane
 
  5  
Reply Mon 29 Sep, 2008 01:33 pm
It certainly is frightening to see the market plunge 700 points, however,
I am relieved that the bailout was voted down. At the same token, I am surprised that more Republicans voted it down than Democrats. The Republicans seem to feel the shaky ground they're walking on.

The economy will recuperate, let's take the money and help the ones who
need it the most: these poor homeowners who are losing their house due to
the greedy banking/mortgage industry.
JPB
 
  1  
Reply Mon 29 Sep, 2008 01:36 pm
@CalamityJane,
Jane, please read this thread I started earlier and give me your thoughts....
http://able2know.org/topic/123062-1
0 Replies
 
cicerone imposter
 
  1  
Reply Mon 29 Sep, 2008 01:43 pm
@CalamityJane,
The republicans are already blaming the democrats for its defeat.
0 Replies
 
Robert Gentel
 
  6  
Reply Mon 29 Sep, 2008 01:46 pm
@Green Witch,
Then they should make separate bills and inject at least 100 billion now as a simple loan to banks to get us some liquidity while they figure out the details on a larger proposal. I don't think Main Street is really considering the consequences of the liquidity problem and how acute it already is.

I took over a the jobs of an entire department this month and the employees were only let go because their companies couldn't meet payroll. A whole department vanished and became Robert the offshore consultant, that's fine for me but horrible for the economy. I personally know of dozens and dozens of acquaintances who are unemployed right now because they worked at startups or fairly new companies (less than 10 years old) that can no longer get the credit they need to make payroll.

In some cases, those people own houses that they are going to foreclose on, and the situation is going to get a lot worse if unemployment goes up. And if no liquidity is forthcoming the unemployment rate is going to go up and make things worse.

The longer the payroll crunch continues, the bigger the problem is going to be. The longer the credit crunch continues the slower the economy will crawl. Banks are already offering high interest rates to attract deposits, and high interest rates are going to slow the economy even further.

If the mortgages and financial institutions are too hard for Main Street to figure out right now, then they should at least infuse the market with something to provide immediate liquidity relief.
cicerone imposter
 
  2  
Reply Mon 29 Sep, 2008 01:48 pm
@Robert Gentel,
I agree; they need to pump in liquidity into the banks for people to borrow the money to survive. They can hash out the other stuff after they relieve this cash crisis.
0 Replies
 
Debra Law
 
  4  
Reply Mon 29 Sep, 2008 01:56 pm
House of Representatives=434 members
Democrats=235
Republicans=199

Democrats Vote on Bill
Yea=141
Nay=94

(141/235=0.60)
EXACTLY 60 percent of the Democratic house body voted Yea

Republicans Vote on Bill
Yea=66
Nay=133

(66/199=0.33)
EXACTLY 33 percent of the Republican house body voted Yea

* * *
For a bipartisan passage of the Bill, roughly 60 percent of the Democrats (majority party) and 40 percent of the Republicans (minority party), the House needed 13-14 more Republican votes. All that was needed, however, was 10 more Republican votes to pass the bill.
____________________

Theory: Passage of the Bill MUST be bipartisan. Why? If the Bail out succeeds, both parties can take the credit for setting aside partisan politics and putting "country first." If the bail out fails, neither party will suffer the backlash. It appears, in back room wrangling, the Dems agreed to bring 60 percent of their votes in support of the bill if the Repubs agreed to bring 40 percent of their votes. . . . and the Repubs reneged on the deal.

____________________

After the bill failed to pass, the Republicans took the stage and claimed it was ALL Pelosi's fault because she gave a "partisan" speech prior to the vote placing the blame on the Bush Administration -- and 12 Republicans--who were going to vote yea--got pissed off and voted nay.

_____________________

The Democrats took the stage and stated that those Republicans who were allegedly offended by Pelosi's speech decided to put their hurt feelings first rather than country first. Frank stated, give me the name of those 12 Republicans, and I will talk uncharacteristically NICE to them if that's what it takes to put country first.

________________________

The Republicans then took the stage and claimed that the Democrats are the majority party and they should look for the 10 votes they need in their own ranks. In other words, the Republicans WANT to force the Democrats to take responsibility for the bail out legislation that has no guarantee of succeeding to fix our economy.

___________________________

It is clear, however, that the Democrats are NOT going to cough up those 10 votes. Again, it must be a bipartisan vote or the bill won't get passed.






cicerone imposter
 
  1  
Reply Mon 29 Sep, 2008 02:13 pm
@Debra Law,
Sounds like the old bait and switch game that wasn't bought. LOL
0 Replies
 
JPB
 
  2  
Reply Mon 29 Sep, 2008 02:17 pm
@Debra Law,
Have I mentioned recently that I hate politics?
cicerone imposter
 
  2  
Reply Mon 29 Sep, 2008 02:23 pm
@JPB,
Several times. It could also be that I read the same post several times. Embarrassed
0 Replies
 
Green Witch
 
  2  
Reply Mon 29 Sep, 2008 02:23 pm
@Robert Gentel,
I agree that we need to do something and I would be in favor of taking smaller steps to create a life support situation. It's the reckless speed and scope of Bush's plan that I object to.
0 Replies
 
BumbleBeeBoogie
 
  3  
Reply Mon 29 Sep, 2008 02:34 pm
John McCain is toast!

BBB
Cycloptichorn
 
  2  
Reply Mon 29 Sep, 2008 02:39 pm
@Robert Gentel,
Robert Gentel wrote:

Then they should make separate bills and inject at least 100 billion now as a simple loan to banks to get us some liquidity while they figure out the details on a larger proposal. I don't think Main Street is really considering the consequences of the liquidity problem and how acute it already is.

I took over a the jobs of an entire department this month and the employees were only let go because their companies couldn't meet payroll. A whole department vanished and became Robert the offshore consultant, that's fine for me but horrible for the economy. I personally know of dozens and dozens of acquaintances who are unemployed right now because they worked at startups or fairly new companies (less than 10 years old) that can no longer get the credit they need to make payroll.

In some cases, those people own houses that they are going to foreclose on, and the situation is going to get a lot worse if unemployment goes up. And if no liquidity is forthcoming the unemployment rate is going to go up and make things worse.

The longer the payroll crunch continues, the bigger the problem is going to be. The longer the credit crunch continues the slower the economy will crawl. Banks are already offering high interest rates to attract deposits, and high interest rates are going to slow the economy even further.

If the mortgages and financial institutions are too hard for Main Street to figure out right now, then they should at least infuse the market with something to provide immediate liquidity relief.


Pretty sure they injected some liquidity today, or took steps to do so:

http://calculatedrisk.blogspot.com/2008/09/fed-to-significantly-expand-capacity-to.html

Cycloptichorn
Green Witch
 
  3  
Reply Mon 29 Sep, 2008 02:46 pm
@BumbleBeeBoogie,
Quote:
John McCain is toast!


Never underestimate the gullibility and blindness of conservative America.
 

Related Topics

Obama '08? - Discussion by sozobe
Let's get rid of the Electoral College - Discussion by Robert Gentel
McCain's VP: - Discussion by Cycloptichorn
Food Stamp Turkeys - Discussion by H2O MAN
The 2008 Democrat Convention - Discussion by Lash
McCain is blowing his election chances. - Discussion by McGentrix
Snowdon is a dummy - Discussion by cicerone imposter
GAFFNEY: Whose side is Obama on? - Discussion by gungasnake
 
  1. Forums
  2. » bailout dead
  3. » Page 2
Copyright © 2021 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.1 seconds on 09/23/2021 at 07:06:25