Voted “no”.
Related – a spreadsheet from Kevin Aylward;
If the Treasury simply took the $700 Billion and started paying off taxpayer mortgages, they could pay off every mortgage in the country worth less than $75,000… Or put another way, $700 Billion could pay off well over half of all outstanding first mortgages in the entire country.
Do you really think they need this much money?
And this surprises who? Me actually. Maybe they’ll cross the floor come next election?
You would think that with a majority in the House and Senate, the Dems would be able to govern. Instead, Pelosi seems to have spent the last week trying to pin a “kick me” sign on the House Republicans. It is as if she cares only about winning, and not a whit about governing. Naah!
School yard politics. Demobrat$ = Librano$
Na, na, na, na, na, I’m bigger/better than you-ou … outta my way.
Pelosi’s a disgrace and a disaster.
There should be tight restrictions on the bankers in this bill, no big bonuses (for what?), no lending WHATSOEVER to people who can’t pay loans back, etc. But what a lot of people don’t seem to understand–too difficult for Pelosi’s pea, botoxed brain to get?–is that a no vote doesn’t mean relief for taxpayers.
If this bill doesn’t pass, a lot of taxpayers’ savings are going to be wiped out. Any way you cut this, the little guy is going to lose, but at least the bank bailout will avert certain disaster.
What do Nancy and her Demobrat Nancy-boys not get? This ain’t about partisan politics.
Is this stuff going to blow back on the Dems and BO?
Surely the prospect of the four horsemen – horsepeople for Nancy – of the apocalypse Obama, Biden, Pelosi and Reid is enough to terrify a large percentage of the voters to at least split their ticket.
Gord…that would depend on how many of the electorate are informed on how heavily the Dems are in to causing the mess.It’s not like the O will say “Sorry…the Republicans tried to prevent this and we scoffed at them”
And ignorance is bliss.
Can we have more Sarah Palin interviews please? They’re the funniest things going on TV nowadays.
I am beginning to wonder, is it all as bad as everyone says? Who has actually lost their job? Who has undeservedly lost their house? Who is going hungry? Just who is going to be getting all this money, why do they need it? Why can’t AIG just be allowed to slip under? I am sure shareholders have a good case to sue to recover all that money that was paid to all those people for screwing up so big.
Hey Jose,
Did you know Joe Biden’s great grandfather was interviewed on tv by Katie Couric’s great grandfather in 1929 and was asked his opinion of FDR’s televised speech to the nation regarding the great depression….oh wait….
nevermind.
‘Rats go shopping at the gap? The skie is felling on Pelosi and her ‘Rats.
…-
“After Wall Street Falls Nearly 800 Points, Consumer Confidence RISES
Highlighting the gap between Main Street and Wall Street, the Rasmussen Consumer Index shows consumer confidence gaining a point on Tuesday morning. On the day after the economic “rescue” package failed in the House of Representatives and the stock market fell 800 points, the Index shows that consumer confidence rose for the third straight day to 70.4–the highest level of the past week.”
http://www.freerepublic.com/focus/f-news/2093887/posts
The American taxpayer has spoken.
No bigger-government solution.
One employee of the Treasury department was asked why 700-billion dollar was needed. His answer,”We just wanted a really big number.”
GOP response and communication has been terrible.
I thought it was going to be close but honestly I think Obama and the Dems have co-ordinated things now and they are filleting McCain and the GOP.
I dont say tis with pleasure, just as an observation. Obama has ads done and playing heavily, they are good ads, that play right into this…well timed or well planned.
GOP is confused, running around. Even the simple message that the Dems could have passed this, the message Karl Rove delivered in that interview…thats a simple message but what is getting reported is that the GOP couldnt organize their side.
This is a masterful offensive by the Dems, and the GOP is getting beat up real bad. Now it isnt even October yet, so one wonders what the GOP has waiting. Dem strategy could have been to try to knock McCain so far down he cant recover, a possibility.
Given a hostile media, see Instapundit, then it will be very difficult for McCain to get his message out.
My suggestion to the GOP, is people are craving info on “this crisis”. Like many successful businesses I would find a way to get that information to them, unbiased info no political message, because it is pretty universally agreed that Feddie and Fannie have a lot to do with it.
I would put together a website educating everyone on how the system works, what happened. Right now the narrative is that this is caused by lack of regulation and its a bailout of Bushes wall street friends, moveon has just put ads out…once again good timing (hmmm)
GOP is confused and getting attacked from above, below and within. Masterful co-ordination from the Dems. It may all be lies, but if you cannot communicate your message it doesnt matter whether its true or not, nobody will hear you or believe you.
I don’t know people about just handing over 700,000,000,000 to the bankers that has screwed the system up. Would the people of Canada handed PMPM this amount of money, “I think not”. The last comment on whizbang had it right “we are doomed if it doesn’t happen now”. The bailout on wall street is making people wonder who the F**K have we got running the accounting system there.
This failure of their money management has been predicted by economists for over two years. I think this is going to blow up in the Rep’s and Dem’s face and it should. How both parties could have deregulated the lending system to a point of “if you have no job, no down payment, CCs are maxed out and still buy a house is beyond me.
The $700B buys assets that aren’t worth what they should be, but aren’t worth nothing, either. No one really knows how much can or will be recovered from those assets to the US government, but it isn’t anywhere near $0.
700 billion is the notational amount, not the final cost. The media (and blogs) mistake the nominal face value of the mortgages for the losses on those mortgages.
First off, not all of the mortgages will default. Of those that do (and lets face it, the banks aren’t unloading the good ones,) there is a house to be sold to recoup a good portion of the mortgage defaulted on. So, of the 700B’s of mortgages at face value, only part will be loss.
Expect losses somewhere between 1/4 and 1/2 depending on the final terms of the bailout at worst-case scenario. No question, this is still huge numbers.
I still think there aught to be bankers hanging from every tree in NY and lawmakers hanging from every tree in D.C.
Stephen:
I agree that the Republicans are getting pummelled on this issue when they don’t have to be.
Right now, the American taxpayer needs to take a deep breath after winning a big victory is forcing their representatives to vote against the package.
Obama’s ‘change’ is a change for an even bigger role of government in their lives.
There’s still enough time for the voters to figure this out. If they can remember that their outrage was that the Congress looked the other way (during both Republican and Democrat control) as bankers tried to defy the law of economics, then they’ll be well on their way.
The spin is starting to become clear. The Democrats don’t think that winning elections makes them responsible to deal with problems. They won huge in ’06. Huge. Yet Nancy thinks it is till up to the Republicans to solve this problem. Well, if that is the case, then she sould endorse the Republicans to win the House back.
Open Comment to Nancy Pelosi:
Nancy,
The country put you in charge of the House. They made you responsible. Harry Reid is in charge of the Senate. No Republican has threatened a filibuster. One vote majorites will pass this in both houses. The POTUS will sign it. If you can’t do it, step down and let somebody take the power who will use it and accept accountability.
-Tim in Vermont.
I think the more blame she places on the House Republicans to submarine this bailout, the better for the House Republicans. The longer this drags out, the better for the country. Hopefully it will never pass.
OUR AUGUST LEADERS IN THE US ARE OUT OF CONTROL!
What a cruel joke, they vote the bailout plan down and seconds after the vote, once the markets react, they are trying to take a re-vote.
A complete and utter legislative farce, it is not government but tragic-comedy.
One would like to laugh but unfortunately the post-script to this debacle is more like a new movie film:
MY BIG FAT GREEK TRAGEDY.
God help us, no one else is.
A good recap of how we got into the sub prime mess.
Franklin Raines ex CEO of Fannie Mae is an advisor on the Obama campaign.
With that kind of help, the US economy won’t need any enemies.
See the following link:
http://ca.youtube.com/watch?v=NU6fuFrdCJY
Quite simply the sub prime mess was inspired by misguided government regulation, principally by Democrats who wanted ‘affordable housing’. This was not inspired by the financial industry but mandated by government statute.
A trillion here, a trillion there and pretty soon it adds up to real money.
The most dreaded words one hears at the door:
“Hi, I’m from the government, I’m here to help.”
Ronald Reagan
Cheers
Hans-Christian Georg Rupprecht, Commander in Chief
Frankenstein Battalion
2nd Squadron: Ulanen-(Lancers) Regiment Großherzog Friedrich von Baden(Rheinisches) Nr.7(Saarbrucken)
Knecht Rupprecht Division
Hans Corps
1st Saint Nicolaas Army
Army Group “True North”
http://campaignspot.nationalreview.com/post/?q=MjkxYjhkMjM2ODY2YzJjNTAwZjFkYmEwOTA4NGJiOGU=
Monday, September 29, 2008
HORSERACE
Pelosi’s Excuses Are Garbage
Pelosi, moments ago: “The Democrats more than lived up to their side of the bargain.”
Horsepuckey. Pelosi has 235 members. She needed 218. She could spare 17 members and still pass the bill.
The GOP spotted her 65 members, for a bill that made most Republicans’ skin crawl in both broad outline and in terms of detail.
That meant Pelosi could afford to lose 82 Democrats.
She lost 95.
Bush and Paulson were never going to pass this bill with House Republican votes. It had to be palatable to the Democrats, and Pelosi and Frank said that it was.
Think about it – the majority party is insisting that the minority party is responsible for the bill not passing with a majority. Do you see the incongruency there? Why is anyone taking that argument seriously?
UPDATE: Hoyer says “we got every gettable Democrat.” If so, that’s stunning.
Chuck Todd on MSNBC right now: “Every member in a tough race voted ‘no’.”
ANOTHER UPDATE: I’m not buying this “Pelosi’s speech turned Republicans against it” argument. Either you think the bill is worthwhile (or that the cost of inaction is greater than the cost of action) and you vote for it, or you don’t. Somebody else’s speech is a lousy reason to change a vote on an issue as big as this…
Somebody else’s speech is a lousy reason to change a vote on an issue as big as this…
Except that whe was trying to shift the responsibility for the consequences of the bill to the other party pre-emptively, which would be fine if she was giving an up or down vote on a bill written by the R’s, but she wasn’t. Maybe that is what she should do, let the R’s write a bill, then let the House vote on it. She has said she doesn’t want responsibility to govern.
I agree with Tim in Vermont about the leadership in the house and what effect it is going to happen. With another post of Tim’s about SP taking the crap and McCain going up the middle and taking the vote.
Posting by: Stephen at September 30, 2008 10:55 AM
I disagree with the perspective of your post. If I got this right McCain seen this coming down the road. As he stated in the Rep convention. “Fight for your Country, Fight for your Right, Fight for your Vote to mean something”. “McCain taking the middle”
From what I read on the websites, I think the voters have spoken. What is attached to the bailout that is not being spoken about. How many other bills is passed with this one.
I think that when the voter realizes what is being added that is going to hurt the Dems.
The VP debate is coming and you watch the cameras, they will pan SP on “how is she dressed, breast shots, leg shots, shoe shots”. It will be good she is standing behind a podium because it would be panning “crotch shots”.
All you had to do was watch the cameras at the Rep convention on Mccain’s acceptance speech. Where were the cameras focused 25% of time. On SP family of girls “SP, Bristol and Willow. On the breast, legs and crotch hoping for the ultimate shot.
When it sorts out over the next month, I would say the ads are just beginning to get dirty!.
[quote]
Nancy,
The country put you in charge of the House. They made you responsible. Harry Reid is in charge of the Senate. No Republican has threatened a filibuster. One vote majorites will pass this in both houses. The POTUS will sign it. If you can’t do it, step down and let somebody take the power who will use it and accept accountability
[/Quote]
Tim,
This was Nancy’s moment to deliver and she flubbed it with self induced grandeur. She had the votes and would have got the credit, but couldn’t pull the trigger. Hillary will run the Congress in 2009. Nancy loses her BIG Plane..
BUSH is DOA; the fool delivered the Country to the Democrat’s. The idea that gross incompetence is hidden until 2 Months before an election is a bad fairy tail. Bush may want to prop up the EU and Global market using US taxpayers money, but the Conspiracy theory groups may rightly suggest a “God Father Thumb” that made BUSH harpoon McCain. Do you think the Global Market may WANT a Socialist win in the US, and had reason to manufactured this crisis?
The bad paper debt is shredded /assumed by the Fed. Why? Because the easy credit market is dry. What idiot solves a BAD Paper (Debt) problem by issuing more BAD paper to the same PLL that created the problem.
The problem is easy credit & bad Debt, everyone should oppose the bale-out..
Good idea. Give people a payment on their mortgage, in return for which they cut up their credit cards.
Still have to pay off their debts, only they can no longer use credit cards.
Actually the Democrats in the Congress put Nancy Pelosi in the Leader’s chair.
I wonder how long it will be before they remove the chair from under her bony ass.
Or can they?
The Democrats wanted this bailout passed, BUT they wanted to atribute passage to Republicans so the guilt is shifted away from the guilty Demomcrats.
Pelosi played her cards= and busted.
As a Canadian taxpayer and a share holder, I support the US taxpayer bailing out the financial industry.
PELOSI, REID, AND OBAMA will say or do anything to get their greedy power hungry hands on that $700 Billion dollars. Once they get it, they will flush this country down the toilet … and, all you fools who supported them will feel betrayed and victimized … but you will have nowhere to go for help!