Wednesday, October 01, 2008

Halfway Home

Senate Passes Bailout 74-25
Sens. Bond, McCaskill vote "AYE".
Including . . . how will Kenny Hulshof vote on the new bill?


"This bill stinks but the alternative is much worse. While many Missourians may not feel it yet, with no action most of the people that live in my state will be harmed, many significantly, in a matter of months.

"I’m proud at least that we said no to the ridiculous proposal of the Bush administration. We now will limit executive compensation, provide strong oversight, limit taxpayer money involved, and work to restore regulation to the Wild West of Wall Street. While our government will buy troubled assets, we now have a plan that will not reward the greedy yahoos at these financial institutions and give taxpayers a realistic chance of actually making money on this deal."


Sen. Bernie Sanders of Vermont introduced an amendment that would raise taxes on the rich to pay for the bailout. Sen. Judd Gregg of New Hampshire spoke against it. It failed. Minority Leader Mitch McConnell of Kentucky then said this deal took "unprecedented cooperation between leaders." Majority Leader Harry Reid of Nevada then explained why Congress needs to take action to help "Main Street."


Robert Goodbody said...

"Credit Crisis is Artifically Made!"

Bernie Sanders and Byron Dorgan were the shining stars of the night. They voted NO

Ever since the US House defeated this bill, with the exception of Jo Ann Emerson who voted to bail out the Wall Street greedy investment bankers, and their equally greedy foreign banker friends, the neocon, globalist cabal got in high gear to try to create fear among the people who were also against the bill.

What these lie spewing Wall Street bankers and their bought off friends in Congress did, was to float the lie of a "credit crisis." They spoke of businesses not being able to get loans to meet payrolls and other dire circumstances if this Wall Street bail out bill was not passed the next time it came up.

For some time now, the Federal Reserve has been cutting interest rates that they loan money, so that the bankers who borrow that money can make lower interest loans to attact more loan business. That cut in the Fed, should, in turn, cause the interest rates for mortgages and other loans to decease, also. However, the bankers have been RAISING mortgage rates, even as they got lower rates from the FED, instead of lowering their mortgage rates.

Now, I STRONGLY SUSPECT, that these same bankers are artifically creating a credit crisis by secretly refusing to make loans to business and other clients, for the SOLE PURPOSE OF CREATING PANIC AND THAT PANIC TRANSLATE IN FRANTIC CALLS FROM BORROWERS TO THEIR CONGRESSPERSON, DEMANDING THAT THEY VOTE "for" THE WALL STREET BAIL OUT.

Well, I know that it has been used before, and, perhaps misued, but the saying is true. YOU CAN DRESS THIS BAIL OUT UP AND PUT LIPSTICK ON IT, BUT IN THE END, IT IS STILL A PIG (in othr words, this taxpayer bail out of the fat cat, greedy investment bankers on Wall Street and the foreign banks, is, even after all the lies about "Main Street," is still, a lurid bail out of investment bankers who got too greedy, gambled irrationally, and lost."

There were no Congressional hearings where economists could testify on this bill. It has been rushed through in a hurry that looks a lot like a shotgun wedding, where the bride is in the family way.

CharityAngel said...

Again Senators, your day will come and you will be fired! And even if Bond does retire and they try to appoint Roy Blunt to his seat, we will still FIRE Blunt!!

Those who have endorsements by Blunt and Bond are going to have a heck of a time getting support now!

Republicans and Democrats have behaved badly, spank them at the ballot box, vote third party!