Note to Paulson: The Key to Passing the $700 Billion Bailout Is Insurance
Reader Comments
King Henry Bailout Bill
Who Needs A Presidential Election, if this Deadly Senate “King Henry” Bailout Bill Passes, The Treasury Secretary, King Henry Paulson, will have more unchecked, absolute power and authority than any other individual in the entire Federal Government. Yes, The Members of Congress who voted Yes for The Paulson Bailout Bill, will have openly, arrogantly, violated their oath to defend and protect the U.S. Constitution.
The People’s Voice has been ignored. Diane Feinstein has 80,000 constituents call her and ask her to vote No; only about 20,000 who say to vote Yes.
Four times as many people say Vote No and what does the beloved, ethical, Senator Feinstein do? She votes Yes, for the Bill. Her excuse is that the people just don’t understand the seriousness of the problem.
The Middle Class People are treated like they’re idiots and morons. Many Americans may not know what the “Ted Spread” means or what The “LIBOR Rate” is or the importance of “Commercial Paper”, but we do understand the seriousness of the problem. We’re the ones who have lost our jobs, our homes, and our life savings.
The Greedy Wall Street Elitists and corrupt Politicians who voted Yes for this Bailout Fiasco, still have theirs and they’re going to make sure they look out for Number 1 – themselves and their Lobbyist bedfellows.
One of The top Senators who promoted and helped design this bill not only sat by and watched this crisis happen, but also has received almost $500 Million dollars in Campaign Contributions from Fannie Mae and Freddie Mac over the past decade. Wow! Do You think that might possibly be just a teeny-weeny, little Conflict of Interest? Could that Possibly Be the Reason this Senator as well as many others, sat by and did nothing to properly regulate
Fannie Mae and Freddie Mac in the last 10 years?
One of The Good things about Pressure is you see where people are at – who they really are. They Can no longer hide behind inane rhetoric and condescending scorn and contempt for the people they’re supposed to be serving, The American people. Virtually all the News Media is for this Bailout, pushing massive fear for over a week, and almost all the Greedy Wall Street Analysts on all the networks are “Licking their chops”, openly “drunk with excitement” to get this $700 billion gift from the lowly, ignorant, unimportant, Middle class morons; to save their elitist jobs and fortunes. The Bible says that “Accepting Bribes Blinds Your Eyes, Cripples Your Judgment, and Destroys Your Character”. That’s what The unbridled, lust for money and power has done to these so-called “Public Servants” and the greedy, corrupt business people who also violated their “fiduciary responsibility”. We The People will cast our vote in the next election, to try and remove them from office and elect men and women with the integrity and moral courage to fight for our Liberty. Thanks to everyone in Congress who voted “No” on the “King Henry” Bailout Bill and who fought
$700 billion vote
I think the vote on Monday failed because of the Nancy Pelosi rant against Pres Bush. I read they had the votes until Speaker Nancy took off on the President and then the House republicans changed their votes to spite Speaker Nancy.
$700 billion vote
I think the vote failed on Monday because of the Nancy Pelosie rant on Pres Bush just before the vote. I read they had the yes votes but house republicans changed their votes to spite speaker Nancy.
Bailout
I have a fantastic idea to help all.
Give each tex payer 20,000(individual size of bailout) and if you feel it is best spend on wallstreet send it back. This will please all.
If float loans are the problem congress should outlaw them and put the folks with them on fixed.
Real Americans have a crises everyday trying to pay the bills, juggle the kids, stop taking their med cuz they can not afford them, adequate food on the table, can not afford heat in the winter. Real stuff...
Congress and Wallsteet problems are corruption only...easy to solve. Prosecute them.
Bailout
The financial markets have to be allowed to take their natural course and have failures as well as winners. There is no assurance that anything the government does will be more helpful than if nothing is done. I do not want any of my tax dollars to be spent underpinning foolish mistakes. I have worked hard, sometimes at two jobs, to ensure my mortgages are paid. I am not willing to underwrite the ignorance and foolishness of others.
Days Later
The insurance provision was added - the GOP torpedoed the bill and McCain looks like the overblown putz he is. But the insurance provision is a ringer since liquidity is the issue. What til tomorrow and the market drops even more than todays 777 points. 8-years of screwy US leadership is makling the country a laughing stock around the world.
Paullson last man to go to for a solution
The head of one of the four former largest investment banks in the world lives in a parallel world to you and I. Therefore the last man who should be asked to come up with a solution. The $700 billion is just a drop in the ocean for what debt there is out there. I'm afraid all that this will do is to let wall street bankers off the hook. Get ready for a full blown depression as it now seems the logical outcome, looking at what is on the big picture table. With impending food, energy and water scarcity knocking on the door together with world population increasing at 75 million a year, things are going to be bad, very bad indeed. Therefore all we are doing is putting off the inevitable and adding to the peoples' debt. The bankers must be laughing all the way home. Over the next three years I see a total collapse of the system and growing international conflict as the forces of capitalism fold. Overall I blame government and their advisers for where we are today, for they should have intervened a decade ago in a financial system that was corrupt and that only looked after the few. What we have to do now is to forge a new world order based upon sustainability and need, not sheer greed. For we live now in a time when we shall see our children suffer immeasurably at the hands of the few who took so much. Remember that and where future generations will struggle hard to survive with ever limiting resources and the diminishing abilities to combat life-threatening man-made disasters. The system has gone on for too long where the very few prosper and 99% of the world pick up the crumbs from the rich man's table. Time to change completely I would say !
Dr David Hill
World Innovation Foundation Charity
Bern, Switzerland
how does the "house prices fell" affect me
Lynn KIrchgatter of IA:
Adjustable mortgage comes up for adjustment. If your house's value dropped, the bank can only lend you a loan of the lower value. Ergo, no money for you to payoff the original mortgage.
Deal
According to this account, the White House, Senate Republicans and Democrats tried to railroad McCain into agreeing with them to make the deal "by-partisan" and throw House Republicans under the bus.(They would use two types of vehicles, imagine that!) I think conservative Republicans should be grateful to McCain.
http://www.politico.com/news/stories/0908/14015_Page2.html
"As House Republicans saw it, Democrats and the White House were close to a deal and just needed McCain to sign on so they could roll Boehner under the bus and claim a bipartisan victory...
McCain didn’t play along...That play gave Boehner, whose rank-and-file was in an open revolt against the Bush administration plan, more room and more time to operate...
But he told the group that Pelosi had a choice: She could either allow her negotiators to craft a package that Republicans would accept, or she could make it a partisan vote by attaching the plan to a must-pass stop-gap funding bill that lawmakers from both parties would be compelled to support.
If she chose the latter category, McCain told the Republican leaders that they could vote against the hugely unpopular measure and he would help them make that vote a campaign issue on the trail."
