June 23, 2008

More GOP pushback on the soon-to-fail Chris Dodd & Angelo Mozilo BofA/Countrywide Bailout Bill



Sure is bizarre to see Democrats looking to spend hundreds of billions in taxpayer dollars to bail out corrupt mortgage lenders, and the GOP pushing back.

You'd think the GOP would be in favor of bailing out big financial corporations like Countrywide, BofA and Wells Fargo. But maybe they're finally coming to their senses, and they're now gonna get back to protecting Americans from free-spending Democrats. Even if their corporate buds would benefit from said spending.

Strange days indeed. Meanwhile, this Chris Dodd Housing Gambler BofA Countrywide Bailout bill is dead. D-E-A-D dead. The Dems may still stupidly pass it, but Bush will veto it right quick, and they won't have the votes to override.

So screw you Chris Dodd. You lose.

29 comments:

Anonymous said...

The bill also has its many critics, drawing the kind of slams we're seeing every day in the On Background comments area. Most want to talk about the Hope for Homeowners portion of the bill, which would establish government guarantees on refinanced home loans.

Just this morning, readers were weighing in. Kathryn Modell wrote: "OK, That's it! I am so disgusted with the Democrats handling of this issue that I will BE VOTING REPUBLICAN for the first time in my adult life. This bill absolves these criminal banks of almost all responsibility and lets TAXPAYERS pay billions for their bad bets."

Another reader, John, said: "This $300 billion Dodd-Shelby bailout is an absolute crime."


http://blogs.courant.com/on_background/2008/06/dodds-housing-bill-again-on-se.html

Anonymous said...

BMI’s Menefee: Countrywide Story ‘Has Everything,’ but Networks Ignore It
By Nathan Burchfiel | June 23, 2008 - 15:11 ET

The network news outlets - ABC, CBS and NBC - have missed a great opportunity to cover actual political news in the last week by failing to report on the loan scandal surrounding two Democratic senators, Business & Media Institute Managing Editor Amy Menefee told "Fox & Friends Weekend" June 21.

"This story has everything," Menefee said. "It has a former presidential candidate, Chris Dodd. It has two senators who are getting, like you said, sweetheart loans. It has Kent Conrad, another senator, who called the CEO of the lender to get his loan, which is not what we normally do, and then said, ‘Oh, I didn't get any preferential treatment and I didn't do anything wrong, but I'm going to give a charitable donation to remedy the fact that I didn't do anything wrong.'"

Menefee said it was "very sad" that the networks failed to report the scandal - not just because they refused to go after two Democrats, but because they missed an opportunity to expose the bailout plan Dodd has been defending.

http://newsbusters.org/blogs/nathan-burchfiel/2008/06/23/bmi-s-menefee-countrywide-story-has-everything-networks-ignore-it

Anonymous said...

Go to opensecrets.org and you will see who is getting the money from banks, hedge funds and Wall Street. It is heavily in favor of the Democrats, especially the hedge funds. Dodd's home state of Connecticut is where all the bankers and traders have their mansions.

bitterrenter said...

Let Ms. Modell vote republican. When she's living in a tent I can spit on her.

As for Fox & Friends, PLEASE RITA! Fox, the mouthpiece of conservative fascism is criticizing the legitimate press?

HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!

hell no said...

I will be staying home or voting Republican if this act of war against responsible Americans is passed. I support Democrats 90% of the time but this is making me sick to see the blatant robbery of the middle class to fill the pockets of the bankers.

Anonymous said...

I completely agree. The major networks failure to cover this story shows they have a deliberate agenda that is not in the publics best interest. It is time to realize that they are corrupt and need their abbreviations re-translated.
ABC -- A Betrayal Corporation
NBC -- Nation Biased ...
CBC --- Central Brainwashing Corporation
It is time to investigate our media and find out how many of their stories they cover are buttered up with "influence" money --- Let see, how could it work?
* I will spend 5 million in advertising with your network if you just overlook the story
What's going on is more than just the typical left wing bias. This stinks like corruption with its tentacles infiltrating our major media outlets.

Afterthought said...

Where is Ron Paul? We need him to run third party or at least a suitable surrogate (i.e. Jesse Ventura).

I can't take the Demublicans any more!

Colin said...

I agree with Hell No (apart from "I support Democrats 90% of the time"!!). Why is it that, in a nation of about 300 million people, we have to put up with this sort of nonsense from the supposed leaders of the country? I know it's a little naive, but in reality, what will ever change as long as this is tolerated?

Reality said...

Bitterrenter,

Please stay in your character. You are not sounding like some renter who's about to be taken advantage of by the mortgage-lending industry at all.

Mark in San Diego said...

This is the best clip yet - especially the old Texas story - "you are too dumb to live - go shoot yourself"!!!!!. . .love this stuff - the bill is now DOA!

Anonymous said...

Ethanol scam backed by Osama!!!

http://www.msnbc.msn.com/id/25324195/

Over $162 BILLION in corporate welfare for the ethanol industry!!!

Anonymous said...

Do we really want to bail out debtors like Ed McMahon? Not me! The man is just loaded to the gills with debt!

Let Ed take responsibility for all his reckless spending and set a good example for all the other failed debtors.

Yoski said...

If the Republicans would at least vote against the bill then Bush would have the chance to do one thing right in his life and veto it. I am voting for Ron Paul.
As George Carlin said, politicians are just there to give you the illusion that you have a choice. They own you and steal your money to give it to their criminal friends on Wall Street.

W.C. Varones said...

I hope you're right that it's dead but Sen. Shelby and a lot of Republicans still support it. They may be able to override a veto.

We need people to call their Reps and Senators -- especially Republicans -- and tell them to stop this bill.

I shag renters said...

I think we just need to print more money and let the military drop us 100 bills from the air.The govt can keep fudgeing inflation numbers and we will be ok.

thank you renters for paying my bills and makeing me a rich mo fo. Time to have a brewski on some of my rent money.

consultant said...

I'm a Democrat and I'm against this bill. Period.

The only people I want the government to help are the homeowners (mostly elderly), who owned their homes, wanted to do some modest home repairs, thought they were taking out a modest home improvement loan, but in fact were signed up for high a interest ARM by Mr. Slick Willie, from the Hide & Seek mortgage company. Everybody else, sorry, you are going to have to take the hit.

Guess what, the country needs to take this hit.

Obama is going to hear this Saturday from a lot of supporters who are against this bill.

I agree Keith. This bill is dead. Obama is for providing some support, but this bill went farther than he wanted to go. Now that we know about the sweetheart deals Dodd and others got, we know why this deal was put together.

The mortgage meltdown fiasco is radioactive. Touch it, hang around it too long, and you're a dead man.

Anonymous said...

If you want to know what really happened on 9/11 you need to watch this video:


Painful Deceptions

This video was made by a structural engineer and goes through the evidence of 9/11 with a fine-toothed comb. I'd like to hear from anyone who thinks they can dispute this video.

The truth is plain to see if you'll only take time to look.

Ibod said...

Keith,

give it a break.. you're losing touch with what is on most Americans minds...this is going nowhere fast.

Anonymous said...

This bill is DOA.......until your little punk Obama is elected.

Then it's gravy train city for the REIC.

Edgar Alpo said...

Dodd = fat maggot.

Anonymous said...

I just don't get why democrats would do this stunt in an election year. Oh wait, its not about your votes. It must be about the contributions! Maybe, the timing is sooo inconvenient for a meltdown.

Watching those Carlin videos sure put a contrast on things today. Ironic.

Anonymous said...

Let it go productive and responsible folks, prepare the wallet because we're entering a new age of Hussein Marxism in America:

http://tinyurl.com/62ueyn

And they're always obese, have you noticed? They never look like they're starving. Funny how that works.

Laura'sBUSH said...

MAN, I pray that Bush veto's this sucker of a bill. It will be the one thing he has done right his entire presidency, but you gotta start somewhere......

DODD should be forced to resign in complete disgrace!!

Anonymous said...

Dodd is such an idiot to allow Angelo and the Boyz at BofA to use him like the cheap slutt that he is.......

At least give the guy some K-Y with that 70K....Sheesh. Oh well, hope it was worth it, Dodd--now squeeel like a PIG!

k.w. - Southern Ca, said...

In many ways, what is happening now is beautiful (the fall of housing and markets), because it's normalizing this entirely speculative bunch of over-priced stuff, which is not worth anything close to what it was trumped up to be.

Grap your bag of nicely buttered popcorn, you children (if you have any), wife/girlfriend/partner and be prepared to hunker down for some very, very tough times.

As an actual home owner, I have no vested interest in any of this ridiculousness, but I would hope to see some sensibility in housing prices within the next 2-4 years for hard working folks who rightly deserve to have a dwelling of their own - a place where they will actually live, and make a home out of.

We have a long, long ways to go yet in price declines to where we're anywhere close to things making sense for the greater pool of potential house debters out there, so be patient and wait it out while you can - it's going to get bloody out there in the streets for many folks.

Anonymous said...

This reminds me of the Senator Brewster - PanAm legislation Hughes fought.

Dick Army Rocks! said...

If I was gonna start a Punk rock band I would name it "Dick Army" I love that name almost kind of a spinoff of "Kiss Army"

Kinda fits Republicans they are a Army of Dicks what a fat ass I'd put him on the album cover crowd surfing.

Anonymous said...

LIAR!!

Democrats are all hard working decent people. Only a liar would dare question their motive.

For shame QWEEFIE, for shame.

Anonymous said...

"OK, That's it! I am so disgusted with the Democrats handling of this issue that I will BE VOTING REPUBLICAN for the first time in my adult life.

-----------------------------

So you oppose $300B in spending on this housing bill. Yet you find nothing wrong with DemoRATS spending trillions on other useless shit.

Just goes to show how uneducated DemoRATS really are.