Bail out doesn't pass!

["Got Disney"]

..and please tell us what you think of the people who were going to vote for it but decided to stomp their foot, fold their arms and pout?

HOW DO YOU SPELL......A C O R N

 

[TLSnell1981]

How about this .. Nancy Pelosi, the powerful Speaker of the House, could not get the Democrat majority, the folks who are supposed to put the welfare of the country first, to vote for a bill that needed no Republican votes to pass. That's right. Democrats could have passed this bill without a single Republican vote. Does Pelosi's failure to rally her own party mean Democrats no longer put country first?

Let me tell you how the dems answer that one. "It's not fair....that wasn't the deal...wah...wah....wah."

The bottom line....Pelosi wanted political cover for when this thing went belly up.

 

[bsnyder]

http://wonkroom.thinkprogress.org/2008/09/20/economists-blame-gramm/

http://abcnews.go.com/print?id=5835269

http://worldmeets.us/nachrichten000007.shtml

And I think you're cute too.

The articles you cite don't provide anything specific (and #1 & #2 are the same article) - some economists think repealing Glass Stegall led to a culture of greed. They offer no proof, just a feeling they have.

So, why wasn't there also all this greed in the commercial real estate market? Did those guys suddenly become a model of restraint and moderation?

Gramm-Leach is one of the positives of the crisis. Without it, the taxpayers would undoubtably be on the hook for Merrill too.

 

[jenrose66]

I'm happy it didn't pass. I'm tired of my tax dollars being used to pay for things I don't support. I don't support the war, I don't support tax cuts for the rich, and I certainly don't support giving a huge bailout to rich financial institutions that used poor underwriting while providing mortgages.

I don't care about a credit crunch or freeze, that would be one of the best things that could happen to this country. No one believes in saving for a rainy day anymore, it's just spend, spend, spend and charge, charge, charge.

We don't need anymore credit, we need to stop buying things we can't afford. The market will correct itself without my tax dollars.

 

[Geoff_M]

How about this .. Nancy Pelosi, the powerful Speaker of the House, could not get the Democrat majority, the folks who are supposed to put the welfare of the country first, to vote for a bill that needed no Republican votes to pass. That's right. Democrats could have passed this bill without a single Republican vote. Does Pelosi's failure to rally her own party mean Democrats no longer put country first?

It's funny to read the partisans that want to finger the Republicans for the bill's failure because the Democrats "did their part" since more than 1/2 of them voted for it, but the Republican didn't "do their part". I missed the part of civics class that said that bills can only pass the House if a majority of both parties vote for it. I also find it funny that a 67/33 split is the new definition of a party line vote!

 

[bsnyder]

It's funny to read the partisans that want to finger the Republicans for the bill's failure because the Democrats "did their part" since more than 1/2 of them voted for it, but the Republican didn't "do their part". I missed the part of civics class that said that bill can only pass the House if a majority of both parties vote for it. I also find it funny that a 67/33 split is the new definition of a party line vote!

Likely an unintended consequence of the extreme partisanship and second-guessing that we've seen from the Iraq War vote.

I"m assuming a bailout bill will probably pass later on this week. If it works as intended, the crisis won't get any worse than it already is. Which will allow some people to later claim that the threat was oversold, there really wasn't a problem to begin with, blah, blah, blah.

 

[Zippa D Doodah]

Interesting. "Country First" became "Country Last" because some Republicans didn't want Pelosi to "score points".

That could not be more 180 degrees opposite of the way it actually is.

I thank God that some Republicans and Democrats had the gonads and foresight to reject the bailout. Yes, it's going to hurt in the short-term (and I take no joy in that at all), but there is no conceivable reason to ram this bailout down the throats of hard-working middle class people who do nothing other than make this country great and live within their means. I don't even care whether voters had a D or R after their last name. I salute each and every one who rejected this socialist garbage. All this bailout was ever designed to be was a stopgap so the fat cats could dump their shares on simpletons.

 

["Got Disney"]

Interesting. "Country First" became "Country Last" because some Republicans didn't want Pelosi to "score points".

There are many Democrats that cant stomach Pelosi......it is not just reserved for Republicans. If You call the speech that she gave scoring points than that is scary. Wrong time with the wrong speech.

 

[Zippa D Doodah]

[QUOTE="Got Disney";27883820]There are many Democrats that cant stomach Pelosi......it is not just reserved for Republicans. If You call the speech that she gave scoring points than that is scary. Wrong time with the wrong speech.[/QUOTE]

Pelosi's actions and words today will be examined by future generations as they study how NOT to exercise effective leadership. She is a true disgrace to her party and her country.

 

[Guy Incognito]

I haven't bothered to read this whole thread, so if this has been said, so be it.....

I think both sides are pathetic for playing the blame game and making this a partisan issue. The Democrats have a majority and could have passed this bill if they really wanted to, without the Republicans voting for it. Republicans agreed in the meetings leading up to the vote that enough of them would support it to make it a bi-partisan effort, then backed out of that. Shame on both sides. If the bill is that bad, then they need to sit their butts down and hash out something that they can agree on. The problem with this whole thing is no one has explained this situation to the people in terms that they can understand (I'm not demeaning the public here; I'm putting the onus on the politicians et al to explain in detail what will happen if nothing is done).

So now what happens? They all go on recess. (what a fitting term to describe it, since it also describes the play-time you get when you are in grade school). We have a bunch of freakin' children running this country. They can't get a deal done, so they all take their proverbial ball and go home.


While I realize no Congressional reps are reading this thread, I'll say it anyway.... GET YOUR BUTTS BACK TO D.C. AND GET THIS DONE.

 

[Tigger Woods]

I haven't bothered to read this whole thread, so if this has been said, so be it.....

I think both sides are pathetic for playing the blame game and making this a partisan issue. The Democrats have a majority and could have passed this bill if they really wanted to, without the Republicans voting for it. Republicans agreed in the meetings leading up to the vote that enough of them would support it to make it a bi-partisan effort, then backed out of that. Shame on both sides. If the bill is that bad, then they need to sit their butts down and hash out something that they can agree on. The problem with this whole thing is no one has explained this situation to the people in terms that they can understand (I'm not demeaning the public here; I'm putting the onus on the politicians et al to explain in detail what will happen if nothing is done).

So now what happens? They all go on recess. (what a fitting term to describe it, since it also describes the play-time you get when you are in grade school). We have a bunch of freakin' children running this country. They can't get a deal done, so they all take their proverbial ball and go home.


While I realize no Congressional reps are reading this thread, I'll say it anyway.... GET YOUR BUTTS BACK TO D.C. AND GET THIS DONE.

If you think this is bad, wait until Social Security implodes.

 

[kimluvswdw]

Guess what.! Banks come off the short sale ban list Weds morning........it will be a bloodbath if they don't extend the timeframe on the list.

What does this mean for people who have to do a short sale?

 

[Anewman]

What does this mean for people who have to do a short sale?

Not a real estate short sale, they are referring to STOCK market short sales.

 

[rie'smom]

http://wonkroom.thinkprogress.org/2008/09/20/economists-blame-gramm/

http://abcnews.go.com/print?id=5835269

http://worldmeets.us/nachrichten000007.shtml

And I think you're cute too.

The blogs allege this and as some posters have pointed out, blogs don't count. Find me the proof. I want real proof that Gramm caused the crisis. Did he write a bill or pass legislation that intended to cause the crisis? If not, it's all conjecture.
BTW, only 6 Democratic senators voted against the Gramm-Leach-Bliley Act.
48 out of 202 Democratic House members voted nay.
Looks to me like a whole lot of Democrats backed the Gramm-Leach-Bliley Act.

 

[LuvDuke]

[QUOTE="Got Disney";27883317]HOW DO YOU SPELL......A C O R N [/QUOTE]


How do you spell P U M A?

 

[LuvDuke]

The blogs allege this and as some posters have pointed out, blogs don't count. Find me the proof. I want real proof that Gramm caused the crisis. Did he write a bill or pass legislation that intended to cause the crisis? If not, it's all conjecture.
BTW, only 6 Democratic senators voted against the Gramm-Leach-Bliley Act.
48 out of 202 Democratic House members voted nay.
Looks to me like a whole lot of Democrats backed the Gramm-Leach-Bliley Act.

So? It was the wrong bill to pass and the wrong for Bill Clinton to sign.

 

[rie'smom]

How do you spell P U M A?

Thank God for PUMA, they see right through Obama.

 

[Geoff_M]

Republicans agreed in the meetings leading up to the vote that enough of them would support it to make it a bi-partisan effort, then backed out of that.

That's a bit of an overstatement. Leaders of both parties agreed to the deal because they thought they could rally enough support from both sides to pass the bill. No leader can truthfully "promise" X or Y votes. They can badger, cajole, threaten, or offer rewards to the members of their caucus, but in the end each person is free to vote as they want. Preliminary polling of members may have shown that it might have worked, but in the end, both set of leaders got it wrong in the end.

After the Jewish holiday (which I think will offer a needed "cooling off" period), they'll take up the deal again. It would appear that the deal doesn't need a lot of tweaking to pick up 12 more votes. Something will eventually happen.

 

[bsnyder]

So? It was the wrong bill to pass and the wrong for Bill Clinton to sign.

You keep saying this but have offered no examples of how it caused lending standards to weaken in the residential housing market. Or explained why there hasn't been a similar weakening in the standards of the commercial real estate market.

 

[Charade]

It's just carrying to the economy the same Iraq war sentiments "Democrats what to see Americans come home in body bags just because they dislike Bush" or "Democrats want to see more attacks at home because they want to see Bush embarassed".

This financial meltdown started with the deregulation in the Reagan administration and finalized in the Gramm-Leach bill. From that day on, it was just a matter of time. Although our resident banking/financial geniuses can't seem to make the connection. It's all the fault of forcing loans on people who couldn't afford them.

And, no, this Democrat thought it was a mistake for Bill Clinton to sign the Gramm-Leach bill.

Let's assume that deregulation is the root cause. The Democrats for the last 25 years, many STILL there from that time, didn't say a peep. Didn't do anything to prevent this meltdown. Didn't sound warning alarms. In fact, Barney Franks as late as 2003 said there was nothing wrong with Fannie and Freddie. Many leading Democrats, Obama included, received many 10s of thousand in contributions from them.

NOW they are wringing their hands.

You should be so proud to be associated with that party.