The Bailout

[Gaspar]

Lets take a moment to understand what's happening here.

President Bush delivered a two page document, very basic skeleton, of the bailout bill to congress and said, "you guys need to hash this out and sign it.  No veto."

The congress has a Democrat majority with no need of any of the republican components to agree on this bill, sign it and send it out the door.  So basically they can work it into anything that they want, sign it and be done.

President Bush asked McCain and Obama to help facilitate this process because it is absolutely necessary for the economy, and he was hopeful this would avoid politics on either side coming in the way of the agreement.

So the question is, why did Reed and Pelosi make such a fuss about McCain and the other Republicans not agreeing with what the Democrats have morphed this bill into?

Why the media grandstanding, when they know that there is nothing that Republicans can do to stop them?

They don't need McCain, his advice, or any of the other Republicans to agree on anything.  They don't need any of the Republican votes on this bill.

Why the hold up and fuss?  Why are they demanding agreement on a bill that any reasonable conservative would never agree to?

Within the bill we now have provisions for millions of dollars to go to ACORN and the National Council of La Raza, and millions of other dollars to be funneled here and there, and over here, and around there.  This is a Democratic dream bill.  All they have to do is pass it and celebrate.  

So I ask again why the fuss?

Here's why, the bill is absolutely necessary, but it is also an enormous trap.  It is impossible for the Democrats to pass a simple bill without handouts to their various keepers.  Additionally, every element in this bill that takes away from the free market is a noose for a Democrat.  This was a huge opportunity for a clean functional bail out bill and Reed and Pelosi have come to realize that they cannot do it.

Reed is inflamed making statements about McCain holding up the process, when he has no power over the process.  

The Democrats are in agreement about what they want in this bill, they just can't figure out a way to get away with it without it coming back to bite them.  

If they get bipartisan participation on the bill, they can avoid blame once all of the filthy little elements are scrutinized.   Well it's not going to happen.  They need to just get over it and get on with it.  

After all they are the wisest minds in american politics.  They created Fannie and Freddy.  They fed them by putting an end to redlining mortgages during the Clinton Admin.  

So why are they so upset when they are awarded Carte-Blanch to fix the problem, and to distribute some money?

. . . Because, they know the consequences.

While they were letting their imaginations run free, reality came back to bite them.  

Time to suck it up and sign.  They can even proudly call it The Democratic Bailout Plan.  

[shadows]

There is a holdup on the 700 billion land fall as whether we should reward the those who by their negligence, have used the mortgage industry to inflate the housing industry where by the soft dollar many jobs are being lost as companies reduce their work force.
Still the builders of the golden parachutes want the working poor to keep the wind under the parachutes as they loose their homes in foreclosures.

The reduction at Arkansas Whirlpool operation and moving to a new plant in Mexico, leaving some 700 employees, with unnumbered mortgages payments, can be construed to mean that if they cannot have cheap labor here they will take their production to where there is cheap labor.

There is no solution to the inability of the working poor to maintain their payments as they loose their jobs or have their hours cut.  When the smoke clears a little we can expect to see the pensions being in default.   Then the retail sales will faultier on which we have used to create an exploding local governments.  Inflation since the past years on foods have increased from 20-30% still we compare the sales taxes from a year ago with an increase in the single digits...

The Airlines need to be baled out.   FDIC could not cover the losses of one bank.  The trillions in pension plans have not been address.  The American Financial intuition is as Humpty-Dumpy teetering on the wall.   The Euro has gained strength while the Dollar becomes weaker from inflation.  We are into another war without any solution in mind except to reinstall an exiled government.  We want to interfere in Russia civil war.  Russia is extending credit to south America to buy missiles.  China has become a power to recon with.   Mexico's citizens are buying our utilities and lands.  

Roosevelt used all the tricks in the Great Depression in the 1933 area,

Who in hell would want to be president at this time in history?  

     

     

[we vs us]

GYOFB

[guido911]

Summary of dems responsibility for Freddie & Fannie debacle:

http://ca.youtube.com/watch?v=_MGT_cSi7Rs

I like the B.J. Clinton sound bite at the end.

[HoneySuckle]

So how did we get ourselves into the mess anyway?  Wouldn't have anything to do with Dubya and his obsession with war, would it?  Meanwhile everyone suffers because those of you who voted for the idiot, couldn't see your derriere from your elbow?

[guido911]

quote:Originally posted by HoneySuckle

So how did we get ourselves into the mess anyway?  Wouldn't have anything to do with Dubya and his obsession with war, would it?  Meanwhile everyone suffers because those of you who voted for the idiot, couldn't see your derriere from your elbow?

That's right, Bush's obsession with the Iraq war and the war on terror was the exact reason why Congress buried its head in the sand (or accepted Fannie/Freddie bribes, er, campaign contributions) and refused to act after being warned by federal regulators about problems. Did you even watch the video?

[guido911]

"Red State Update" weighs in on the bailout"

http://www.sitemason.com/newspub/fQKJvW?id=59380

[Conan71]

quote:Originally posted by HoneySuckle

So how did we get ourselves into the mess anyway?  Wouldn't have anything to do with Dubya and his obsession with war, would it?  Meanwhile everyone suffers because those of you who voted for the idiot, couldn't see your derriere from your elbow?

No, actually it wouldn't.  Not even close.

[Hoss]

quote:Originally posted by Conan71

quote:Originally posted by HoneySuckle

So how did we get ourselves into the mess anyway?  Wouldn't have anything to do with Dubya and his obsession with war, would it?  Meanwhile everyone suffers because those of you who voted for the idiot, couldn't see your derriere from your elbow?

No, actually it wouldn't.  Not even close.

Not to say that Dubya is absolve from any blame though.  More than one administration caused this mess, without a doubt.  Time to quit pointing fingers and get it fixed, even if the package sucks.  I hate footing the bill, but what else can we do?

[carltonplace]

Colbert: We now need to give the powers that be, more powers that will be.

[Conan71]

quote:Originally posted by Hoss

quote:Originally posted by Conan71

quote:Originally posted by HoneySuckle

So how did we get ourselves into the mess anyway?  Wouldn't have anything to do with Dubya and his obsession with war, would it?  Meanwhile everyone suffers because those of you who voted for the idiot, couldn't see your derriere from your elbow?

No, actually it wouldn't.  Not even close.

Not to say that Dubya is absolve from any blame though.  More than one administration caused this mess, without a doubt.  Time to quit pointing fingers and get it fixed, even if the package sucks.  I hate footing the bill, but what else can we do?

I was pointing out that the WOT had nothing to do with the sub-prime debacle and financial bailout.

My only hope is people who play loose and fast with the "facts" don't vote.

What steams me is that these behemoth companies didn't want government intervention when everything was "going great" now they want the gov't to save their bacon after their stupidity and greed have led to near-demise.

[Gaspar]

Nostalgia

New York Times Sept 1999,

"In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring."

CAN'T WAIT!

[Gaspar]

If  you have 8 minutes:
http://www.youtube.com/watch?v=H5tZc8oH--o

[cks511]

Just got voted down in the house 193 yea's 220 nays and I think I saw 21 not participating

[FOTD]

How'd the Oklahoma delegation vote?