Tuesday, September 30, 2008

Bailing Out Congress

By a vote of 228-205, the U.S. House of Representatives rejected the bill designed to bailout Fannie Mae, Freddie Mac, AIG and other Wall Street entities. Despite the best efforts of Rep. Pelosi and other Democrat party leaders, over 40% of the House Democrats voted against the bill. It is important to note that the Democrat majority in the House is large enough to pass any bill without any support for Republicans or Independents. [READ MORE].

Undoubtedly you have heard a variety of talking heads and politicians give a wide range of reasons for the failure of the bill to pass the House. The Spin Doctors have indeed been busy. What is almost never mentioned is that members of the House heard loud and clear from the folks back home that they did not want their tax dollars going to bailout Wall Street.

Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home.

Why is this bailout so important? Why the urgency? How could this seemingly come about virtually overnight? Who is to blame and who will benefit? All good questions to which you have yet to receive straight answers. But there are some pieces that are known. We have collect some of these items for your review.

From WorldNetDaily
Your Scorecard for understanding the mortgage scandal
Find out who's who in the 'Rogues Gallery' of economic crisis

This is a very good background piece that lays out the trail of corruption and manipulation by speculators and Congress that has led up to this so-called crisis.

From Forbes
Bad News For The Bailout

From HotAir.com
Video: Democrats insist "nothing wrong" at Fannie Mae, Freddie Mac in 2004

This article contains a video of various Democrats defending Freddie and Fannie. Listen for yourself as Barney Frank declares : "I don’t see anything in this report that raises safety and soundness problems".

From LiveLeak.com
Huge anti bailout protest on Wall Street subject to mainstream media BLACKOUT

I wonder why mainstream media is not reporting this?

One last question we should each ask ourselves: "why should we trust the same people who created this mess to fix it?"

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Anonymous Antielf said...

In the beginning, Sen Reid said that they didn't know what to do and will just wait it out.

A week or so later, now all of a sudden it HAS to be done immediately or the world will end.

Well, the world didn't end. Neither did our economy. In fact, today (Tues) the DJIA is up a little under what it fell yesterday. And now the Congress that HAD to have it done has adjourned until Thursday. What happened to the urgency?

Am I the only one that sees through these childish games?

I think they wanted to ram this through due to how deep the Democrats are involved in this corruption. Of course, the mainstream media will cover for them.

Meanwhile, the Dems have the gall to blame this ALL on the Republicans even when presented with direct evidence.

Just to note for the Dem leaders - 12 dems on Rep Frank's own committee that helped draft it didn't vote for it.

Is this nothing more than political theater in a naked attempt to castigate Republicans? Is it that plus pressure to pass another bill that is more socialist? Is this is a coverup? Its a bit of all of the above and probably even more.

BTW: How they came up with $700B (from the Forbes artcle above):
"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number.""

To me, that alone is enough to say NO!

8:48 PM  
Blogger RStar23 said...

Here's a possible scenario

1. Dems have a large enough majority in the House to pass any bill they want.
2. Dems make a bigshow of coming up with a "compromise" bill.
3. Dems bring up the bill for a vote but 'selected' Dems vote no.
4. Dems blame Repubs despite the fact that there are not enough Repubs to pass or block the bill by themselves
5. Dems craft neww bill - this time with all the funding for acorn, la raza, etc.
6. Dems pass the bill
7. Taxpayer gets frakked.

9:19 PM  

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