Should be streaming live on CNN.com and C-span later today for those of you at work or around the world. Vote is expected "after sundown". Prediction? It passes, but they need 60 to stop a filibuster. Should be close.
October 01, 2008
Special open thread to talk about the panicked monkeys in the Senate cramming the housing gambler banker bailout bill down the throats of America
Subscribe to:
Post Comments (Atom)
208 comments:
1 – 200 of 208 Newer› Newest»...today, the villain is "Wall Street greed," which is contrasted with the supposed sobriety of "Main Street." When people on Main Street misbehave by, say, buying houses for more than they can afford to pay, they blame the wily knaves who made them do it.
http://www.realclearpolitics.com/articles/2008/10/publics_fury_noted_now_is_time.html
If the Chinese Party Bosses and Criminals out of inferiority complex got carried away by "Glittering American Model" and gambled their Dollars (like when their forefathers bought Opium) why should J6P pay?
nobody likes a war
Somebody has to fight it, draw the lines, take a hit etc. add your own saying.
I dont want the economy to tank, but honestly, I think it should.
It would put a lot of this hubris we have been talking about on this website in check.
good luck everyone
I just wrote Senators Clinton and Schumer and will call them later today asking them to vote against this bill. Please everyone call your senators if you are against the bill. Give them hell. It's a disaster in the making.
Let's stop the Wall Street and banking extortion racket for once. Let them get what's coming to them. Bastards.
HPers, please check this out:
http://www.imf.org/external/pubs/ft/wp/2008/wp08224.pdf
It's a report from the International Monetary Fund (IMF) titled: "Systemic Banking Crises: A New
Database "
It was published LAST MONTH! Talk about timing.
It looks at 42 banking crises from 1970 to 2007. It shows the Paulson bailout plan DOES NOT WORK.
Please read and pass along to others.
Send to your Congressional Reps.
Over in the UK we are actually glad someone in the House has an ounce of sense to read something before its passed! If anything a viable option such as this (courtesy of the NY Times) http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html?_r=1&scp=4&sq=sweden&st=cse&oref=slogin
We all hope something can get sorted soon.
Dear HP: As much as it pains me to say this.....YOU ARE NOW THE MAINSTREAM!
I know, I know...I'm now on the Wall of Shame w/ Dopes. No matter the punishment meted outto me...I still like you folk!
jim bunning's web page doesnt work today. I cannot send him an encouriging email today. I wonder this malfunctioning is a coincidence.
What's there to say? They're all a bunch of f*cking criminals and who is on the Senate?
McCain.
Obama.
Clinton.
Can we appreciate that there is no real difference between these sh*tty candidates yet? They are ALL the enemy of the people!
Keith,
I just read the draft of the new bill. First, the bill is now 110 pages, up from its original 3. Second, I read the section on executive compensation. There is NO limit! In other words, there is not one sentence that states something to the effect that "The executive, will under no circumstances, earn more than $x per year."
That alone is reason enough for me to vote NO to the new bill, and if our economy collapses, so be it. Don't get me wrong - I don't want the government telling me how much money I can or can't earn, but under ONLY these unique circumstances, I don't have a problem with it.
Here's what happened in Super- Size-It Americano Land. We supersized our meals, our waistlines, our houses, our cars, our vacations, our weddings, our kitchens, our Wal*Marts, our Lowes, our Home Depots, our Costcos and our Debt.
Yet, we've also
Under Estimated scope of Housing Bubble...it's subprime (and contained)
Under Estimated scope of financial impact...it's a US problem.
Under Estimated the impact on the value of ALL fiat currencies...it's a USD value problem.
Due to US bailouts/Fed credit windows, etc dollars are falling from helicoptors like rain = INFLATION...NO, they fall into the negative balance wealth distroying black holes in the basements of our financial institutions. DEFLATION DEFLATION DEFLATION
Our toxic paper has spread a virus of bad debt throughout the world. They are watching us now as never before. They are rattling their sabors. They are mad. This is not just a housing crisis, this is not just a financial crisis, this is going to turn into a military crisis that we can not contain. As we turn our attention and our anger toward Congress, the world is turning its attention and anger toward us. Take a wider view. Anger is being replace by hate. Will we have any friends left?
Tell me, who is running for President who will repeal the Patriot Act? Who is running for President who will outlaw PACs? Who is running for President who isn't a millionaire? Who is running for President who believes in Peace? Who is running for President that I can trust? Who believes that we need to rebuild our country from its very foundation? Do you believe any of our current politicians, if transported back in time to Philadelphia would be capable of writing our Constitution? They don't even uphold it.
We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.
James Madison quotes:
I believe there are more instances of the abridgement of freedom of the people by gradual and silent encroachments by those in power than by violent and sudden usurpations.
If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy.
It is a universal truth that the loss of liberty at home is to be charged to the provisions against danger, real or pretended, from abroad.
No nation could preserve its freedom in the midst of continual warfare.
The executive has no right, in any case, to decide the question, whether there is or is not cause for declaring war.
We are right to take alarm at the first experiment upon our liberties.
War should only be declared by the authority of the people, whose toils and treasures are to support its burdens, instead of the government which is to reap its fruits.
President Bush has broken his oath of office numerous times. I consider him a traitor:
I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.
Great monkey photo. By the way, although I'm contacting my representatives and insisting they vote down the BBB, I am voting against every incumbent no matter what they do today.
If it is signed into law, I quit and will do everything in my power to avoid paying any taxes to this POS government and its POS people.
Fuck all you leeching pieces of shit, I am done!
I was going to write a long winded rant, but we need to just string them up.
If these monkeys take my income (by increase in taxes or reduced services) to supplement overextended and greedy homedebtors I will stop payments on my federal student loans to make up the difference. I want my stuff to!
What a tangled web they weave, as they practice to deceive.
The fact they're trying to rush this out is already dangerous, and any legislation passed will work ONLY to their benefit - bailing out banker and wallstreet crooks.
They haven't spent enough time to address the real underlying problems, which guarantees this "bail-out" will make matters far worse. If you have any children, I'd be very worried about their future prospects of a decent lively hood - most won't have one if and when this garbage legislation even passes.
In the meantime, housing prices continue to plummet across the nation, unemployment is rising and the cost of basic necessities keeps get more and more expensive.
CONGRESSIONAL PHONE NUMBERS:
http://tinyurl.com/4376ar
This is the time to keep up the pressure.
Let our voices be heard, our employees have to know that we (the tax-paying citizes) the employers of these mainly incompetent representatives have had enough.
.
Lookslike Chuck Schummer
.
I would like to see this bill passed. Once the government ends up owning the "bad toxic loans" the next step for Uncle Sam is to "rework", "redetermine", etc... loans so people can stay in their homes. Pretty cool huh? I have not made a mortgage payment on my overvalued townhouse for eleven months and this October 15 it will be 12 full months. I am under credit card, student loan, health care debts, and this townhouse in which I pulled out a lot of cash via HELOC!
HP'ers = Fucked Savers
Democracy is nothing more than mob rule. As of right now, people who saved their money will be screwed. While people like me will come out like freaking bandits. How does that make you feel HP'ers?
Anonymous Anonymous said...
If it is signed into law, I quit and will do everything in my power to avoid paying any taxes to this POS government and its POS people.
Fuck all you leeching pieces of shit, I am done!
October 01, 2008 3:54 PM
HA, HA, HA, HA, HA, HA. You jerk, you DECIDED to live within your means, save your money, plan for your future. And thus you were a fool. When you saw people buy a 1300 square foot condo for $450,000 and it zoomed in value and take a HELOC loan to go on a luxury vaction, buy a car, expensive jewelry, etc... You should have done the same thing! This was a once in a lifetime opportunity to live the high life. But NO, you are an HP'er and you knew better! HA, HA, HA, LOL, LOL, LOL, LOL. Now, you are a FUCKED SAVER!
I would gladly endure financial hardship for an opportunity to drive a steak through the heart of Wall Street.
Anonymous Up-pissed said...
If these monkeys take my income (by increase in taxes or reduced services) to supplement overextended and greedy homedebtors I will stop payments on my federal student loans to make up the difference. I want my stuff to!
October 01, 2008 4:11 PM
Hey stupid, no one told you to save your money, service your student loan, live responsibly. No, you made those decisions. Now you are a FUCKED SAVER. Get used to it!
I put a giant NO at the top of my fax and included in bold:
"If this bill passes I will join those who have stopped being responsible and I too will stop paying, on EVERYTHING."
Sent it to every fax # I could get ahold of.
It's encouraging to see so many Americans get involved.
Keith start a thread encouraging all those with debt to take the Wallstreet approach and stop paying if this goes through!!!
GT Charlie
Please watch this So-Cal report about dreadful foreclosures
http://kcet.org/socal/2008/09/foreclosure-alley.html
I don't have a drop of sympathy for investors and flippers, they should put them all in jail. But these are real families with kids that really lived there, and it makes my blood boil. Yes, maybe suckers, or uneducated, or uninformed. Still, people. Totally desperate.
The bailout will not help them, nor the neighbors that are still paying.
Nice picture of Bushco. His good side.
Today McCain can turn the election around, by filibustering the bill while Obama votes for it.
All will be forgiven.
sharpen your pitchforks
SCARY Prediction that turned out 100% True!!!
Hundreds of banks will fail, Roubini tells Barron's
---------------------------------
NEW YORK, Aug 3 (Reuters) - The United States is in the second inning of a recession that will last for at least 18 months and help kill off hundreds of banks, influential economist and New York University Professor Nouriel Roubini told Barron's in Sunday's edition.
Taxpayers will pay a big price for helping bail out the rest of the financial services industry as well, Roubini said -- at least $1 trillion and more likely $2 trillion.
The banks will become insolvent because of mounting losses as a result of the housing bust and because they have only written down their subprime loans so far, he said. Still in front of them are their consumer-credit losses, for which they lack the reserves, Barron's reported.
He also said there are hundreds of millions of dollars outstanding in home-equity loans that could be worth zero, too.
U.S. consumers, meanwhile, are "shopped out" and saving less, while the Federal Reserve's performance in handling the crisis has been poor, Roubini said, because it failed to see that the problem extended beyond subprime mortgage debt.
Now, Roubini told Barron's, the government is overregulating, bailing out troubled participants and intervening in every market.
"The regulators should investigate themselves for bailing out Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the creditors of Bear Stearns and the financial system with new lending facilities. They have swapped U.S. Treasury bonds for toxic securities," he told Barron's. "It is privatizing the gains and profits, and socializing the losses as usual. This is socialism for Wall Street and the rich."
He said that sometimes it is necessary to use public money to rescue institutions, but in a way that does not bail out the people who made the mistakes. "In each one of these episodes, the government bailed out the shareholders, the bondholders, and to some degree, management," Roubini told Barron's.
As for the banks that will go bankrupt, they will include community banks that finance homes, stores, downtown areas, commercial real estate and other mainstays of U.S. towns and cities, Roubini said.
"Of three dozen or so medium-sized regional banks, a good third are in distress," he told Barron's, saying half of the group could go bankrupt. Some big banks could wind up insolvent, he added, but said they might be deemed too big to fail.
Nouriel stressed that he is "quite bullish" about the state of the global economy and that he is positive about the medium and long term.
(Reporting by Robert MacMillan, editing by Martin Golan)
It's so weird to be watching Harry Reid right now talking about people taking their money out of the banks, about credit freezing up, about businesses not being able to get loans, blah blah blah
It's everything we, and most importantly Manias, Panics and Crashes, predicted would happen.
Whether you're for or against the bailout, we should all agree that what's happening is really happening.
Home prices are crashing.
People are rushing to cash.
Banks are failing.
Credit has frozen up.
Even if this bailout goes through I don't see how the process stops. It's almost like we HAVE to go through this cycle, no matter what the monkeys in DC do.
Confidence is shot. Nobody has been frog-marched or held accountable.
And meanwhile I'm watching Manias, Panics and Crashes right here, live on the BBC
Puke spin masters hard at work trying to blame the Dems, of course, for all the housing bubble woes. Sean Insanity. Bill O'Really. Etc.
Just thought I'd remind America of a few facts.
American Dream Down Payment Act.
Created and sponsored by Kathleen Harris(R)
Funded 2003 by GOP House.
Funded 2003 by GOP Senate.
Signed into law by GOP White House
http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/index.cfm
Yet, you turn on those lying, cheating filthy GOP talking heads on T.V. and they'd have you believe it's all Barney Frank(D) fault.
And was Harris soooo concerned about homes for low income minorites? Of course not!! All this money was going to the GOP home builders in FL who OWNED her!!
GOP rat bastards. DIE!!!
http://www.cnn.com/2005/US/03/24/CNN25.tan.harris/index.html
After the 2000 election controversy, Harris threw her hat into the ring for a U.S. House seat in 2002 - and won. The new congresswoman obtained assignments on the House Committee on Financial Services, the House Committee on Government Reform and the House Committee on International Relations.
During her inaugural year, Harris sponsored and introduced the American Dream Downpayment Act, which aims to help low-income Americans buy homes.
"Passing that bill was ... very tense. It was not this shoo-in sort of bill that people love to say now happened," she said. "The most important aspect wasn't really how I felt, but how those first people feel when they get to own their first home."
with all these monkeys, buy banana futures :)
It really is just so surreal.
I feel violated. Now everyone is talking about the housing panic. It's like we had a secret, and now everyone knows.
What makes me really sick though is to hear politicians say they've been warning about this for years.
Bullshit.
Nobody did anything.
And what makes me sick is politicians who want to prop up the prices of homes artificially.
They just don't get it. High home prices destroyed America and the world economy. Bribing people to join the ponzi scheme so that the current bagholders can get out is immoral and unethical.
What a freaking mess.
I'm going to pop some more popcorn.
We tax payers are going to bailout Wall Street millionaires and Bush and Paulson’s country club cronies.
Major businessmen say this bill is bad (see Steve Wynn and Trump). Top economists say it’s a bad deal.
They are trying to scare us into bailing out their lavish lifestyles. Don’t believe it. Banks ARE making loans.
If this passes stop paying on ALL your debts. If you don’t then you will be a stooge and an idiot. Stop paying and Wall Street won’t get your money! Let’s see them pay themselves $20 million pay checks when the sheeple stop sending our hard earned wages!
Yahoo Representatives on C-Span are yacking about all the things we need to do to protect the Tax payer. Things that are NOT in the BS bill they are ramming down our throats!
Gt Charlie
Breaking news: Moderator of tomorrow night's VP debate is an open Obama supporter, who is pushing for an Obama victory to boost her own book sales.
C'mon, as much as you hate McCain, admit that Obama is only ahead because the media has rigged this entire election and the American sheeple are too damn stupid to see it.
Now they are trying to bribe us with tax reductions blah, blah, blah.
This Senate meeting is one big reach around. I'd like to thank (insert BS Rep, selling us down the river) for his diligent work, blah, blah, yak, yak.
If this passes I will not pay another mortgage payment or credit card payment. I WILL get my part of this bail-out. Will you?
Or will you continue to get shafted because you believed paying your bills, living within your means and being fiscally responsible was an American value?
Get your a$$ out there and run up that credit card bill the minute this passes. They think not keeping Wall Street giants checks is an emergency wait till they see a mass surge in credit card use (that we won't pay back). Go get that flat screen TV, get that dirt bike, etc.
If this passes you will know the $40k millionaires living the high life on what will turn out to be our tax dollars were the smart ones. Are you going to stay dumb or are you going to get yours?
GT Charlie has the blues!
I am with you Keith. This stinks and anyone who votes for this bill should be voted out of office on Nov. 4th.
The government is out of control and they can't fix trillions of dollars of bad investments with a stinking $700 billion bail-out.
These banks have been keeping defaulted properties on their books in hopes of the U.S. taxpayer bailing them out. They saw this coming years ago and did nothing. Banks always budget out 3 to 4 years. Lower home prices is necessary for our families and our economy.
Wall street gamblers screwed up and it is they who should pay the price.
If a company can't get credit it's probably because they have no income! They need to sell assets to raise cash not look to the taxpayer to fund their loss.
They are selling this Bill in a fraudulent manner . Its clear that people can't get credit because they are already maxed out .
The Banks have every right to pull back on credit . This is natural re-pricing of risk that was absent during the boom years.
To try to sell a BIll on the basis
it will correct this problem of credit contraction is a big lie .
The lenders and Banks and Wall Street greed machine wants to be
re-capitalized at the expense of
the public.
To try to sell this bill as a emergency instead of what it is ,
which is a bail out of gamblers and rich fat cats is wrong .
The laws were already in place as to what would happen if something like this happened ,so they are just changing the laws to suit the people of power ,who created this mess . Its also a severe Obstruction of Justice to bail out people that should be prosecuted . To further give all this power to one Man, King Henry ,who is a conflict of interest party, is the
last draw .Its really a very big insult to any thinking person .
Their are better ways of solving this ,but that's not on the option list for people who are thieves .
Frank - McCain's campaign approved her, they can ask her to be removed.
And they should.
But they could also use this as an excuse to just bypass the VP debate, and not have one.
Now THAT would be interesting.
I still expect her to step aside within hours or days. And I'm surprised you're still supporting her. Your comrades are lining up against her now, correctly.
Keith,
Are we 'Turning Japanese'? The Tokyo govt tried all these measures. Nothing worked. Japan still went into an economic depression.
Nick -
If you really practice what you preach, you are not only a fool, but a tool as well.
Look outside your own vested interests, and see what such a "bail-out" will do over the long term for the nation.
You might get a free-ride for awhile, but you won't be prepared when you hit the rocks below.
Nick said...
Anonymous Anonymous said...
If it is signed into law, I quit and will do everything in my power to avoid paying any taxes to this POS government and its POS people.
Fuck all you leeching pieces of shit, I am done!
October 01, 2008 3:54 PM
HA, HA, HA, HA, HA, HA. You jerk, you DECIDED to live within your means, save your money, plan for your future. And thus you were a fool. When you saw people buy a 1300 square foot condo for $450,000 and it zoomed in value and take a HELOC loan to go on a luxury vaction, buy a car, expensive jewelry, etc... You should have done the same thing! This was a once in a lifetime opportunity to live the high life. But NO, you are an HP'er and you knew better! HA, HA, HA, LOL, LOL, LOL, LOL. Now, you are a FUCKED SAVER!
This bill may pass the Senate ( I have my doubts). It will not, however, pass the House again.
Too many monkeys up for re-election.
There is so much bad press and main street outrage about any "bailout" that there would be serious hell to pay going forward politically.
I can't wait to make the list of Senators who betray America tonight by bailing out criminals who should be in jail. Look for the updated list of traitors tonight:
http://www.coloyan.com/politics/rollcall-bailout-senate.html
It's about to get alot more surreal if this sh*t bag of a "bail-out" (oh I mean "rescue plan") is put into place.
If there are any "winners", it will be short lived anyways, passing such legislation is not only criminal but suicidal for the nation as a whole.
Stater Bros. has a good deal on hot buttered popcorn, but supplies are running out fast.
This is a real-time movie theatre folks, and our congressional employees are the main actors.
Who will you be voting for?
keith said...
It really is just so surreal.
I feel violated. Now everyone is talking about the housing panic. It's like we had a secret, and now everyone knows.
What makes me really sick though is to hear politicians say they've been warning about this for years.
Bullshit.
Nobody did anything.
And what makes me sick is politicians who want to prop up the prices of homes artificially.
They just don't get it. High home prices destroyed America and the world economy. Bribing people to join the ponzi scheme so that the current bagholders can get out is immoral and unethical.
What a freaking mess.
I'm going to pop some more popcorn.
I have a friend who took advantage of the home atm and is now singing the blues. she wants the bill to pass because she feels she will get help to pay on her 250,000 loan on a property probably not worth 75,000 (I am being generous)she wants to to know what the people who are almost in foreclosure gonna get. I couldn't believe she actually got 250,000 for the house to begin with I knew someone was playing a shell game with that house. But she doesn't want to be financially responsible for the loans with paid off her car, all her bills, took 3 cruises, husband doesn't work, kids going to school, and one wayward child going to a private school because she doesn't qualify for public school (to bad). Well I didn't do anything but I am stuck paying off her debt, her vacations, her living larger than her paycheck. What do I get just a bill from the government for these people who want something they can not have, free money. I don't want this bill passed, period. I am mad having to pay off her cruises and her car. That is the whole problem because she feels she got conned and didn't understand the paperwork that should give her a free pass, (and a couple of million others)but I say she sure understood how to spend that money and that is the end result if she was so mad that they lied to her well give the money back and call it a draw. So we all know that ain't gonna happen because then she'll say they shouldn'a given me the money. Pigs.
Can somebody please explain to me why Obama is in support of this bailout legislation?
I don't get it. It pretty much goes against everything he has stood for traditionally:
Rewards fat cats vs. down home American folks
Props up artificially high home values (poor folks can't buy or stay in these homes conventionally anyway).
Punishes savers and rewards debt-freaks.
Probably most importantly - $1 trillion dollars puts a major dent in any Democrat's hope of setting up programs to fight crime, illiteracy, encourage green initiatives, fund education programs or just "programs, in general.
This is a complete f'ing farse, you know that?
Let's Review class:
Democrats raise taxes to fund social programs. Cutting spending not in the Democrat dictionary.
Republicans cut social program spending, increase defense spending and defer the payments (tax increase) for the next schmuck (usually a democrat).
thats it...I am taking my f~ing credit card to Walmart and buying as much liquor, cigs, formula and pampers it will allow me to buy...then I am not paying a red cent. When the IRS wants theirs well...I have a special place for them to kiss. AND I AM GOING TO DRIVE WHILE TALKING ON MY CELL, with a little dog on my lap flicking my cig ashes out the window!
You got it.
Here in Southern Ca., we have one of the highest foreclosure and bank-owned property levels - no "bail-out" will help.
More and more Huntington Beach residents are putting their motocycles, cars and boats up for sale.
Restuarants, once busy during lunch-time on mainstreet, are now empty and have a more "run-down" appearance - the fall-out here is starting to really accelerate.
Besides, as more people lose their jobs, the tax burden of paying off any "bail-out" debt will increase for the remaining working tax-payers per household. That's how our government employees intend to repay us.
We have a systemic problem with our entire economic system, where bailing out (and supporting) another group of people is no longer working.
Throwing gobs and gobs of devaluated money at this problem only adds more fuel to the fire, but Bernanke/Paulson are both to uneducated or just plain greedy to even consider the real problem.
Anonymous said...
Please watch this So-Cal report about dreadful foreclosures
http://kcet.org/socal/2008/09/foreclosure-alley.html
I don't have a drop of sympathy for investors and flippers, they should put them all in jail. But these are real families with kids that really lived there, and it makes my blood boil. Yes, maybe suckers, or uneducated, or uninformed. Still, people. Totally desperate.
The bailout will not help them, nor the neighbors that are still paying.
keith,
the good people of america need to start gearing up for a massive protest and rally on capitol hill if this bailout bill passes.
i assume you have connections with other bloggers/blogging sites. it would be great if some organizing could start so we can get people from all across america...millions of them...to descend on the capitol in the likely event this thing passes both houses of congress.
we need to start getting ready for this; we are at a watershed in american history and now is the time to stop this nonsense once and for all. in chaos there is opportunity, and the american peoples' opportunity is now. congress knows the vast majority of people are against a bailout but they are defying the will of the people, again. they think we are morons; they think we know nothing about economics or finance; they think we believe they are out to help only us and not wall street. we know otherwise.
it is time to march on the capitol and make them repeal the law they are going to pass. once that's done, it will be time to march on the white house to get the president to sign off on it.
i think the best way to do this is to get a website going that everyone can rally around; it can serve as the organizing focal point. some possible names: pitchforksandtorches, and nobailout.
a good date for this would be election day...or shortly after it.
i'm not the type to protest or go to marches, but on this issue i'd go down to DC in a flash. we need to stop this sucker from destroying this country.
It will pass senate and house..
Get over it
It's interesting to note that several UCLA economists (blow-hards) feel this bail-out should have been renamed a "rescue plan".
Make note of these people since they are detrimental to the overall health and long-term stability of this nation.
There goes corrupt Sen. Chris Dodd, glowing over his fellow corrupt Senators.
A bunch of f*ckers who stood around and did nothing, when everything that was happening was right here on HP and many other blogs.
He should be investigated, and arrested. Every member of congress should be investigated.
We knew everything, and they did nothing. We sent them letters, we sent them email, we called their offices, and they did nothing.
Just sickening.
Great job you religious fundamentalist McSame-Mooseturd supporting nutjobs. Now you people are so scared of the Arabs hiding in Bin Laden's cave in Islamofascistojihadistan you've turned to terrorism against Muslim children on US soil!
Muslim Children Gassed at Dayton Mosque After “Obsession” DVD Hits Ohio
You people are disgusting! The ultimate hypocrites and violent radicalized fundamentalist whackjobs!!
I just heard the key word:
Malpractice
The President, the House and the Senate performed malpractice on the American people
And they still are. And the voters eat it up. They don't want leaders to deal with problems - they just want to push them off until the next generation.
This problem though couldn't be pushed off anymore. It killed the worldwide financial system.
Social Security and Medicaid/Medicare - that can still be pushed off another 10 years or so.
Global warming - another 20 years or so
Crumbling infrastructure - another 10 years.
Education - another 5 years.
Our monkeys in Washington want to pass this legislation for the sole purpose of protecting only themselves, their brood and kin for as long as possible - before the bottom falls out for them as well.
keith said...
It's so weird to be watching Harry Reid right now talking about people taking their money out of the banks, about credit freezing up, about businesses not being able to get loans, blah blah blah
It's everything we, and most importantly Manias, Panics and Crashes, predicted would happen.
Whether you're for or against the bailout, we should all agree that what's happening is really happening.
Home prices are crashing.
People are rushing to cash.
Banks are failing.
Credit has frozen up.
Even if this bailout goes through I don't see how the process stops. It's almost like we HAVE to go through this cycle, no matter what the monkeys in DC do.
Confidence is shot. Nobody has been frog-marched or held accountable.
And meanwhile I'm watching Manias, Panics and Crashes right here, live on the BBC
October 01, 2008 7:37 PM
Give it up slaves! You're going to pass this f*cking bailout and if you don't like it you can tell the US army:
US Army unit deployed to home front for civil unrest
A US army brigade combat unit will be deployed at home for the first time, the Army Times reports.
The 1st BCT (Brigade Combat Team), numbering about 650 personnel, has returned from Iraq. But rather than dealing with enemy combatants, it may be called to deal with unruly Americans.
That's right slaves! Roll over and hand over the dough.
"Frank@Scottsdale-Sucks.com said... C'mon, as much as you hate McCain, admit that Obama is only ahead because the media has rigged this entire election and the American sheeple are too damn stupid to see it."
Yes, I agree. Most Americans I meet are stupid. As for rigged elections, remember back to 2000 and Florida? How about Diebold in 2004?
Short memory, huh. Well, the remider is still in the white house, your hero, chimpy McBushco and Honest Dick Cheneyburton.
Look what that got us, The New Depression and two illegitamate wars that have BKed the US.
Cheer for your phony war hero John "crash" Herbert Hoover McCain and his VP pick, the Pride of Wasilla all you want.
Regardless of moderation, Gov. Palin will be eviscerated and left for dead by Sen. Biden.
How can any sane rational person compare the two?
A redneck Republican from OC or Scottsdale could moderate this showdown with no effect to the outcome whatsoever.
McCain sounds like a dying farmer trying to borrow money on next years crop.
Enough Already. We Need a real Leader, and SOON.
Good Luck, Palin, you'll ceratinly Need It... Keep your legs crossed for luck.
It use to be if you distrusted government you were a kook.
Now if you trust the government your are a Kook.
We should of know that the Politicians that vote for this are protecting something of their own stake or investment in bail outs . I bet that the Politicians are mad that they didn't get a insider tip on what was coming down ,like Martha Steward did .
This is a sad day in American Politics . What is unnerving about
the Politicians is that they are stealing America from future generations as well as current generations. While the rich ,stay rich ,the majority of people get
a big burden stretched out for years . Thanks loads if you vote for a corrupt Bill .
Frank - I just posted support for Ifill to step aside on americapanic
Get over it??
Your and our troubles (and the next generations troubles etc... ) will only begin if this is passed.
Either you are too ignorant to realize the devestation something like this will cause, or you just don't care yet because you feel "safe and removed" from the problem.
I recommend you wake-up, you may just have to eat those words.
Anonymous said...
It will pass senate and house..
Get over it
My fax machine is smoking!
The message is simple:
"If this bill passes I will join those who have stopped being responsible and I too will stop paying, on EVERYTHING. I'll get my part of your evil bailout! I will not be a victim anymore!"
I'm thinking this passes with 80+ votes now folks. Not even close.
Someone just brought up criminal charges against the fiends. Angelo Mozilo better be frog marched this week. I think America wants a face to put on this debacle, and they want it now. And that face is Angelo Mozilo.
Finally. Let's see if that's all talk. Bush's justice department did nothing.
I wrote this over 800 days ago. We sent letters and emails to Dodd and more. And they did nothing. And say they didn't see it coming.
Shameful.
http://housingpanic.blogspot.com/2006/08/open-letter-to-congress-to-call.html
An open letter to Congress to call hearings on the corruption within the Real Estate Industrial Complex - please send to your Congressman
Dear Sir;
I am calling on you to initiate hearings in regards to the corruption prevalent within the Real Estate Industrial Complex. Many of these fraudulent and corrupt practices have led to the housing bubble, and now housing collapse. Initial points of investigation should include:
* Corrupt appraisers being paid off or promised future business in return for "making the numbers work"
* Mortgage brokers kicking back realtors when recommending their services
* Developers who gave money to bogus charities, who gave the money to new homebuyers to in order to purchase homes from those very developers
* Realtors steering clients to homes and developers where they were being paid bonus commissions or kickbacks, and not disclosing this to the buyer
* Rampant mortgage fraud, underwritten by firms who knew the applicant was unqualified, knowing that the loan was to be held by an unsuspecting third party or commoditized
* Deception practiced by the National Association of Realtors, promoting homeownership when they knew prices were declining and unsold inventory was skyrocketing
* Insider stock sale transactions by Bob Toll and others, dumping their shares at the peak while cheerleading their stock and prospects to the public, knowing the market was deteriorating, cancellations skyrocketing and their stock price and business model soon to decline
* Fannie Mae and Freddie Mac cooking the books and running out of control, imperiling the US financial system
* Congressmen taking outright bribes and campaign funding from the Real Estate Industrial Complex to "look the other way"
* The impact of misguided tax policy (cap gains tax exclusion for home sales) and policy ("ownership society" encouraging people who could not afford houses to buy at the peak) on the housing bubble
* The actions of the Fed and ultra-loose Fed policy in creating the bubble, including Greenspan's recommendation in front of Congress for people to get into ARM loans right before he began raising interest rates.
The population will be in full panic mode soon as the Housing Ponzi Scheme collapses. It is your duty to protect the American people from this ever happening again, by cleaning up the Real Estate Industrial Complex as you helped to with the corrupt Analyst / Investment Banking relationships, and corporate systemic fraud and deception during the dot-com bubble and bust.
Thank you
The Tax Payer “Rescue Plan” Credit Card orgy, No More Payments on anything, I’m Getting Mine, Bailout Protest Movement of 2008.
Has a nice ring huh?
GT Charlie
No way this bill passes Keith. It is nothing more than "lipstick on a pig"! The Senate was more against it then the House.
This bill goes down because it is too close to elections and the U.S. public is against it 8 to 2.
Speech after speech on how we got into this mess.
Great.
Why didn't anyone do anything?
We elect dumb people to congress. The rest are corrupt.
I want to see an HP'er run for office. Anyone game?
Only 33 or 34 senators are up for re-election, unlike the 435 in the house.
This bill passes overwhelmingly tonight. 82 to 18.
Get on record folks.
We must look to the root cause of this. It is not the loosening of regulations from the Clinton years, or the push for home ownership by the administration and certain congressional leaders, or the corrupt practices at Fannie and Freddie. All of those played a role. But those factors could not cause a collapse by themselves.
We have become a culture addicted to instant gratification and a fixation on the material. Increasingly, concepts such as duty, self-denial, hard work, delayed gratification, and patience have been swept away.
Keith, here are the Senators up for reelection. It's more than 35.
http://tinyurl.com/4u5f7s
Sorry Keith, my bad. You are right about Senators up for reelection. You can delete my comments.
Thanks
Now they need to act to "save" us. Even though we are begging them to stay out of it and NOT "help" us.
The only mortgages not going thru right now are no money down BS loans.
Remember we already own Fannie AND Freddie. Giving mortgages is already in the Gov. hands.
Don't believe these liars!
"I want to see an HP'er run for office. Anyone game?"
I'll run as the first MC/rapper representative. I'll rap about how much Paulson sucks, and how Bernanke is wack.
I thought the vote was supposed to happen by now. The media this morning and last night acted like the deal was sealed.
33 Senators up for re-election folks.
Please get yourselves an education if you don't understand this basic math
If it is signed into law, I quit and will do everything in my power to avoid paying any taxes to this POS government and its POS people.
Me too. I have a lot of non-W2 income. They will get NOTHING of that!!! Screw them!
I'm upping my projection to 90 to 10 in favor. That would be insane, but I think it's possible.
Not even close folks. Not even close.
And to think, this is just the first bailout. The FDIC bailout - that'll be a trillion. Fannie and Freddie - a trillion. Automakers - 100 billion. Airlines - 50 billion. Homebuilders - 50 billion. I could go on and on
Just Faxed
THANK YOU!
THANK YOU!
THANK YOU!
It's a 'rescue plan' now, not a 'bailout plan'
You will fall in line. You will not question authority. You will be good little pawns.
HA, HA, HA, HA, HA, HA. You jerk, you DECIDED to live within your means, save your money, plan for your future. And thus you were a fool. When you saw people buy a 1300 square foot condo for $450,000 and it zoomed in value and take a HELOC loan to go on a luxury vaction, buy a car, expensive jewelry, etc... You should have done the same thing! This was a once in a lifetime opportunity to live the high life. But NO, you are an HP'er and you knew better! HA, HA, HA, LOL, LOL, LOL, LOL. Now, you are a FUCKED SAVER!
That sounds like hysteria to me. :) Poor guy.
http://en.wikipedia.org/wiki/Hysteria
Keith:
After the vote what will you be eating?
Ramen, Crow or Entrails?
Lifted from Denninger;
Here is, from what I can tell, what is really behind the Paulson Plan:
1) The government's fiscal year ended yesterday
2) The interest on the national debt this year is going to be about $1 trillion dollars
3) The Treasury is about $700 billion short of being able to pay the interest
4) The Paulson Plan purchases about $700 billion in toxic foreign assets
5) The foreign banks and investors then will take that money and purchase US Treasuries
6) The USA does not default on its debt immediately, as is about to happen (financial Armageddon)
7) Foreign countries are threatening "panic selling of US debt": http://www.bloomberg.com/apps/news?pid=n....
8) Paulson/Bush will veto any Bill that does not have this provision
As others here have put it, this is the mother of all margin calls on US debt.
Here's a support letter fo those of you that need it.
Subject: I XXX Urge You to Pass the Emergency Economic Stimulus Act
Dear Senator XXX ,
I am writing to urge you to support a bipartisan plan that brings an end to the current credit crisis crippling the housing and financial markets. The final plan MUST protect homeowners and the American taxpayers. I supported the Emergency Economic Stabilization Act of 2008 and were pleased with the safe guards in that bill.
Keeping people in their home and protecting 'Main Street' not only benefits individual families, but helps bring stability to the housing market which greatly impacts the overall U.S. economy. Across the country.
The faster Congress acts to relieve this constraint, the sooner we'll see a broad stabilization in home prices that in turn will help the economy recover. Historically, housing has led the nation out of economic downturns -- there will not be an economic recovery without a housing recovery.
I would like to thank you for your hard, and thoughtful, work to forge an acceptable solution. I urge you to move forward as quickly as possible to safeguard homeowners, homebuyers, and the economy.
Sincerely XXX
How come they are not reading any of our faxes?
The fix is in; this is nothing more than a sale job on a decision they have already made.
If I have to hear "I like to hand j@b so and so for his hard work on this difficult.... ARGHHHHH
GT Charlie
Oh, and we wage slaves are also having trouble financing new dishwashers, sheez.
I don't know if this can be filibustered but I sent emails to Jim Bunning and Richard Shelby asking them to try. Alas I may have wasted my time because they need 60 votes to break a filibuster. Worth a shot though...
Marcue Arelius
Obama supports it because of the provision that 20% of the proceeds automatically go to ACORN
and
because after all this heartache they are STILL going to force the CRA to fund loans for people who can't afford them
Pitchforks $20
Torches $5
Watching Washington burn down . . . priceless
And to think, this is just the first bailout. The FDIC bailout - that'll be a trillion. Fannie and Freddie - a trillion. Automakers - 100 billion. Airlines - 50 billion. Homebuilders - 50 billion. I could go on and on
I was under the impression that this $700 billion bailout had no limit so it could be in the multiple trillions. The $700 billion is only the outstanding debt at any one time.
Right?
It just got even more serious...
FDIC seeking temporary unlimited Treasury loans
http://www.reuters.com/article/newsOne/idUSTRE48T7F920081001
"WASHINGTON (Reuters) - The Federal Deposit Insurance Corporation is seeking temporary unlimited borrowing authority from the Treasury Department, according to a copy of the final Senate bailout legislation on Wednesday.
In the bill, which is expected to be voted on by the Senate later Wednesday, the FDIC is seeking the borrowing authority through the end of 2009.
The FDIC currently insures up to $100,000 per depositor and up to $250,000 per individual retirement account at insured banks."
Apparently the rich need to make their bank runs a little easier...
GOT gold?...
Nick:
I hope one of your neighbors burns "your" townhouse down with you and your family in it.
By design, the Paulson Plan is being used to establish a false idealogical divide to create a public perception of well-defined differences between Reps and Dems.
Like the Iraq 'war' vote, it constrains the politicians and polarizes the voters.
It's a 'rescue plan' now, not a 'bailout plan'
And here I thought it was officially labeled a "Crap Sandwich" by Senator John Boehner.
That one girl's tits on the great glam ad are just way too round and look stupid.
If banks in UK and throughout the EU are going under, being rescued by their crappy socialism, why is it that the British pound = $1.80 USD? What about the much higher Euro rate against the USD?
I've been here for a long time now calling bull$hit on the valuations of the Sterling and the Euro currencies. Now Sarkozy wants to create a fund of $400 billion USD to bail the entire EU financial system out.
So tell me again what in the hell is supporting their crappy European currencies? Those Europeans are more f*cked than the US. They're so f*cked that France has been with a stupid marketing campaign in the US, offering wine tasting throughout our country in desperation to pump their French wine sales that have collapsed to the rate of 26% in one year alone. Oh, and wine is a major export for France...huge!
And get this, the person they contracted for their marketing campaign, which is a world renown authority in wine and marketing, is no other than a woman from the RED STATE of North Carolina.
Buh buh I though that the French were so sophisticated, who hated the US, why is it they're not getting the oh-sooooo chic idiots from the San Francisco area to do their campaign, or try to sell their French wine to other countries more sophisticated than ours? Funny how that works.
Another thing, the Europeans always had disgust for the American way of life, calling us materialistic, and how they "live for experiences", so why is that their banks are going down because of overspending and greedy speculation, especially in their housing sector? OK, got it Europeans, no need to explain...you guys are so perfect! * cough * full of $hit *cough*
And Keith is still kissing their stinky butt. Yeah Keith, that's smart, give all your retirement money to the Europeans who hate you.
I'll be eating popcorn. The only win we got out of this is Paulson's hilariously unconstitutional proposal was defeated. This bill is very different. But I've said all along this will go through. Resistance is futile now.
The FDIC news is big. That could mean they'd bail out all banks and all savings accounts, for trillions and trillions. that would make 700 billion look like chump change. And again we've been saying all along that the FDIC would quickly go bust. It's here.
Obama
"there is no real seperation between Wall Street and main street"
That's true. The country club was so crowded today I had to secure a private room at PF Changs. He's right, we all deal with the same problems, have similar incomes, live similar lives and have the same influence in Washington.
What a Bungh@le.
GT Charlie
Europe's going down because
1) they bought the US crap
2) their housing bubble was even bigger than the US's, and their economies were based more on housing and the big ponzi scheme than the US. The UK's GDP was 11% tied to finance. Now finance has blown up. Guess what happens to the UK and London
3) their governments are even more incompetent and corrupt than the US's
The pound and Euro will melt down compared to the dollar. And they'll blame the US.
keith said: "I wrote this over 800 days ago. We sent letters and emails to Dodd and more. And they did nothing. And say they didn't see it coming."
How prescient. Right on all accounts.
I now hear all the talking heads on TV using the terms "Stabilization" and "Rescue"...they are no longer saying "Bailout".
Those BASTARDS!
This bill will pass the Senate because it's easier to get them to do it than the House. And once the Senate does pass it, the pressure will be on for the House to do the same...and they will.
We need to start organizing a massive protest/march on the Capitol building for Election Day. Everyone just show up and shut the place down.
Hey flyingmonkeywarrior, I saw your legs on the pic...
"How 'ya doin'? Watta up mami?"
Just sent thank you faxes to:
Senator DeMint
Phone: 202-224-6121
Fax: 202-228-5143
And Sen. Vitter
Phone: (202) 224-4623
Fax: (202) 228-5061
Obama
"there is no real seperation between Wall Street and main street"
That's true. The country club was so crowded today I had to secure a private room at PF Changs.
Yep, so true. We're so stressed out here on Main Street that we're about to call one of those $3,000 per hour escort-models.
I'm sharpening my pitchfork with laser as we speak, Predator style.
someone beat me to it:
http://nobailout.org/
Citizens: grab your pitchforks and torches and let's descend on DC!
WOW:::: TIME MAG GETS IT::::::
http://www.time.com/time/business/article/0,8599,1845209,00.html?cnn=yes
or
http://tinyurl.com/4z7klj
This is interesting and will impact many!
http://tinyurl.com/42xrf9
The acronym DC used to mean something, now it means other things like:
The District of Corruption
The District of Cocksuckers
The District of Collusion
The District of Cretins
any others??....
I hate our senators
Truly.. I truly hate our senators.
How do we get such worthless crap as leaders?
Your senate in action
_____________________
More detail on all the loverly goodies larded in via Karim Bardeesy at The Big Money (both someone at TBM and reader Jennifer pointed out the piece). Note that this is a partial list:
DIVISION C-TAX EXTENDERS AND ALTERNATIVE MINIMUM TAX RELIEF
SEC. 308. INCREASE IN LIMIT ON COVER OVER OF RUM EXCISE TAX TO PUERTO RICO AND THE VIRGIN ISLANDS.
(a) IN GENERAL.-Paragraph (1) of section 7652(f) is amended by striking ‘‘January 1, 2008'' and inserting ‘‘January 1, 2010''.
(b) EFFECTIVE DATE.-The amendment made by this section shall apply to distilled spirits brought into the United States after December 31, 2007.
SEC. 309. EXTENSION OF ECONOMIC DEVELOPMENT CREDIT FOR AMERICAN SAMOA.
Subsection (d) of section 119 of division A of the Tax Relief and Health Care Act of 2006 is amended-
(1) by striking ‘‘first two taxable years'' and inserting ‘‘first 4 taxable years"
SEC. 317. SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK FACILITY.
3 (a) IN GENERAL.-Subparagraph (D) of section 168(i)(15) (relating to termination) is amended by striking ‘‘December 31, 2007'' and inserting "December 31, 2009''.
SEC. 325. EXTENSION AND MODIFICATION OF DUTY SUSPENSION ON WOOL PRODUCTS; WOOL RESEARCH FUND; WOOL DUTY REFUNDS.
(a) EXTENSION OF TEMPORARY DUTY REDUCTIONS.-Each of the following headings of the Harmonized Tariff Schedule of the United States is amended by striking the date in the effective period column and inserting ‘‘12/31/2014'':
(1) Heading 9902.51.11 (relating to fabrics of worsted wool).
(2) Heading 9902.51.13 (relating to yarn of combed wool).
(3) Heading 9902.51.14 (relating to wool fiber, waste, garnetted stock, combed wool, or wool top).
(4) Heading 9902.51.15 (relating to fabrics of combed wool).
(5) Heading 9902.51.16 (relating to fabrics of combed wool).
SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.
‘(B) EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.-Subparagraph (A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly- ‘‘(i) measures 5⁄16 of an inch or less in diameter, and ‘‘(ii) is not suitable for use with a bow described in paragraph (1)(A).''.
Our congress is good at covering a car crash after the cars crashed
HP'ers warned them that a car was going the wrong way down the highway, and they did nothing
Then it crashed. And now they want to do something.
I'm just sick.
Keith,
our country is run by special and monied interests...on both the left and right.
the american people think they have a say in what happens in dc but that is true only at the electoral level, and even that is rigged. once an election is over the govt. comes under control of the special and monied interests. that's the system the dems and repubs set up.
and in addition to creating a political party duoploy, they have the national media -- and other institutions -- that keep both parties in power by brainwashing the people to believe there are only two choices for them.
over time this has led to complete corruption of both parties. and hence, we get the people that we see today. yes, there are a few good ones, but they are drawfed by the assholes.
only a crisis event can change things, such as this bailout. which is why i say this is our opportunity! all we need are people to organize and march on the capitol...for days and weeks if necessary.
Anon: " I just read the draft of the new bill. First, the bill is now 110 pages, up from its original 3. Second, I read the section on executive compensation. There is NO limit! In other words, there is not one sentence that states something to the effect that "The executive, will under no circumstances, earn more than $x per year."
I dont know if it was a joke, but today on CNBC they said there was a clause in this redrafted bill that the motion picture idustry wants taxpayer money as well.
We were right - everyone wants the taxpayers money!
Call, fax, email your senator and let him know if he vote yes, you will do everything in your power to vote them out of office.
The PPT has been injecting money into the markets for months now.
The feds window is open, permitting banks to exchange their toxic waste for cash.
We bailed out Fannie & Freddie & AIG.
Gave L Bros a bailout-directly to the CEO.
Now.....
What the fuck more do these companies want from us??
Not one Senator has apologized to the American people for this catastrophic failure to protect them.
Chris Dodd, and Richard Shelby, if they had any honor, would have taken their time to speak tonight to resign.
I hate our Senate.
What percent of Americans do you think are watching the Senate proceedings tonight?
1 out of every 100,000 perhaps?
What the fuck more do these companies want from us??
The New World Order.
He said the P word.
:)
keith said...
I hate our senators
Truly.. I truly hate our senators.
How do we get such worthless crap as leaders?
We elected them. Over and over again. They represent us.
JaneZ
I'd like to revise and extend my remarks
I hate the American voter. I truly hate the American voter.
all we need are people to organize and march on the capitol...
You don't have to organize. You don't have to march on the capitol. You don't have to fax letters.
You don't have to do anything, the consumer economy will collapse if people simply stop buying overpriced stuff. This is happening now.
The bailout is not about wall street just as the government says. It is about trying to re-inflate the bubble with cheap debt financed by the taxpayer.
House prices need to come down. Car prices need to come down. Stock prices need to come down. etc etc and the economy won't stabilize until prices come down. It's really as simple as that.
Back to the Panic... Maximum economic carnage is needed for Obama to win... so bring on Armageddon and spread the Panic!
watching senator mel martinez now on cspan; hes' one of the architects of the outrageous illegal alien bill last year.
a total loser.
It feels like 85 to 15 in favor
That would be shocking
One senator just now:
"America runs on credit"
Yup.
Any other questions?
ATE-UP SAID:
"Our congress is good at covering a car crash after the cars crashed"
Hey Keith:
I know you are both smarter than me and more successful. However, what you said is redundant.
Also, while Andrew Hac would have won anyway, how come ol' ATE-UP didn't get listed too? :(
Hurt my feelin's ya did..
ATE-UP
Bernie Sanders was awesome. His idea to tax the super rich (who will benefit the most from this BO) is great. Let him know:
phone 202 224-5141
fax 202-228-0776
Bill Nelson is evil. He wants us to pay housing gamblers directly, bailing them out of their bad bet.
Phone: 202-224-5274
Fax: 202-228-2183
I bet Dominici has big dollars in the stock market. He just sounds like someone looking out for number one (and country club buddies). He suchs.
(202) 224-6621
(202) 228-3261 Fax
Everything's all about 'main street' now huh?
Uh, last time I was on a main street in the US, all the stores were closed, Wal-Mart had opened up a few miles away.
There is no 'main street' in the US anymore. There's strip malls.
Main street is dead. And so is the quality of life in the US until it comes back.
Q: How do you get a Senator to eat a cow pie?
A: Tell him the economy will crash and life-as-we-know-it will end if he doesn't.
Q: What if he knows that you're lying?
A: Tell him there's a huge campaign donation underneath it.
Senator Menendez:
Please understand we DO NOT WANT YOU TO RESCUE US or Wall Street. We get it; you think economic Armageddon is coming if you do not saddle us with this bad deal. We do not trust you, the Government or Wall Street. If you want to earn our trust then let us take the chance we want to take. The economy is working this out as we see it.
Let him know it!
202.224.4744
202.228.2197 fax
Senator Shelby is a home gambler enabler:
Foreclosures happening to housing speculators are NOT an emergency in need of tax payer money!
People did not take out huge home loans they could not afford because they had no choice. They did it gambling they would make $100k reselling it in a year. You know it!
He speaks some sense too. Let him know:
Telephone: (202) 224-5744
Fax: (202) 224-3416
GT Charlie
Feinstein just said her calls and emails were 85,000 against, 6,000 for
And yet she'll vote for this.
Any questions?
ATE-UP SAID:
Frank you're right again. Still don't like you though, and disagree with you often... ( maybe I am jealous??)...
Keith, I know a few little towns where Main Street exists, but not many.
Let's all Watch the Shit Hit The Fan Any Minute Now...!!!!!!!!!!!
ATE-UP
The only towns with main streets are the ones that fended off wal mart
give me that list. if I ever move back to the US, I'll only live in a town with a main street
This woman is ridiculous. Claiming that so many changes have been made to the bill when it is all substantially as Paulson asked.
ATE-UP SAID:
Greenville, Il., a little Christian town I grew up in, is still a good little town with a Main Street. There is one. Keith, Badfinger wrote a song, off their best album, Straight Up, (three of the four committed suicide) which was called, "Perfection". Always remember, there is no real perfection, and there will be no perfect day.
ATE-UP
ATE-UP
The official starting point of what will be taxpayer loss is $850 billion instead of $700. Just when you thought that there's no way they can make this bailout plan worse....
Awesome shot of Bernanke!
Boy Kerry really gives you that "I trust you" feeling huh?
Here is a great poll/survey from Bernie Sanders site:
http://www.sanders.senate.gov/polls/092608.html
Best speech of the night was Bernie Sander's. I loved the blown up pic of Paulson that he brought with him to make his point known.
Bernie Sanders for president!
They just extended the ban on short selling
Why do I feel like banning gold ownership is just a bit away? Amazing what the government can do
These senators are pathetic. I've just listened to Obama and the way these clowns praise one another as "esteemed" makes me want to puke!
YOU PEOPLE ARE THE CAUSE OF THE PROBLEM!! YOU SHOULD NOT BE PRAISED!!! YOU SHOULD BE STRUNG UP!!
It's so sickening watching them praise and elevate one another. I wish they would take some lube, go into a back room and jerk each otehr off instead of waste our time with this bullsh*t!!
Bill Nelson is evil. He wants us to pay housing gamblers directly, bailing them out of their bad bet.
Phone: 202-224-5274
Fax: 202-228-2183
________________________________
NEWS BROADCAST Anonypussy,
I live in Bill Nelson's District, and He is a good Guy! He is voting NO. His lips to my ears via radio this AM.
I protested against the Bill in a March Tues, what have you done????
Back to your regularly scheduled program.
FMW
as soon as the dow fell 777 points on on monday, the 70% of calls against the bailout turned to 70% for.
this is a done deal people. senate will be 80+votes, house will be 300+ votes
it's over. move on.
Hey Keith and other liberals:
How's that 2006 vote treating you?
What percent of Americans do you think are watching the Senate proceedings tonight?
1 out of every 100,000 perhaps?
October 01, 2008 11:23 PM
==========
Dude you're wrong. So wrong. That is all I have been talking about the last 3 days. At work, with friends, with family. Hell I had a dentist appointment yesterday and people were discussing it in the waiting room.
10 no votes so far
so people are talking about this back in america eh?
wonder what woke them up?
I mean, it's only been going on for five years
Obama is a joke. Now so are all of the others of course. I'm not playing favorites here. They are all scum.
Obama says we need to bail out Wall Street first and then bail out Main Street with more "stimulus packages".
WHAT THE F*CK IS WRONG WITH YOU OBAMA??!!
WHERE THE F*CK DO YOU THINK ALL THIS MONEY COMES FROM???!
Then he starts jibber jabbering about cutting back on spending but the last I remember of the recent debate he was making plenty of big promises on policing the world, helping rebuild Georgia's economy and continuing the phony war on terror.
F*CK YOU OBAMA!!
F*CK YOU MCCAIN!!
F*CK YOU PRINCESS MOOSETURD!!
AND DEFINITELY F*CK YOU BIDEN!!
17 no's so far
80-20?
politicians really do slap each other on the back a lot
Flying Monkey Warrior.
Your beloved Bill Nelson has been the most outspoken on behalf of bailing out housing gamblers. Deal with it. He even came back for seconds, to rub our face in his desire to have us pay for the thousands who gambled they would make $100k on the house they could not afford and/or the bozos who refied and HELOCed to buy boats, Porsches, Rolexes, and fancy vacations that we tax payer will end up paying for.
GT Charlie
Anyone want to guess what the market does tomorrow on this overwhelming Yes vote?
McCain just voted no
And you know why
HAIL MARY BABY!!!!
McCain : No... I guess the vote now is about tha railways legislation.
Keith:
You hate this bill.
Obama voted yes
McCain voted no
Yet you criticize McCain?
You're either insane or crazy.
Which is it?
Did McCain seriously vote No? I was only half-listening and missed it. That would actually be a brilliant political hail mary, assuming he has some way of explaining the flip flop.
politicians really do slap each other on the back a lot
I bet behind closed doors they're giving each other deepthroat.
There it is. There's your fucking Wall Street golden parachute.
I got had!! this the vote wasn't on the bailout it was on the train thing!! my feed didn't show the vote topic
ugh!
how damn late do i have to stay up?
I hate the senate!
vote dammit!
I keep hearing that companies can't get loans for payroll. WTF? If a company can't meet payroll without a loan, that company should not be in business.
Come on HPers, admit it. You all fucked up. You played by the rules and for nothing. Everyone played on their own rules and will now be bailed out.
Come on guys, just admit it. I'm not trying to rub your faces in it, but I would like at least an admission of guilt.
i'm done with these monkeys. i'll catch the vote tomorrow over breakfast
post reactions here
80-20 is my prediction
I just saw Senator Richard Shelby (R) talking. He seems to be more informed and makes a lot of sense
"I keep hearing that companies can't get loans for payroll."
Why don't all companies have a month's cash floating around? No one has cash everyone's living on next month's accounts receivable. That's not good.
And I'm back from work finally and C-SPAN shows no Senate vote. Awesome! I get to watch this live. The Senate actually debating this when it was supposed to be a done deal according to the punk ass bitches of the media.
Sen Sanders is giving the President and Paulson the bitch slap they deserve. Stick it to them. Body slam the criminals.
NO BAILOUT! NO BAILOUT! NO BAILOUT!
Why are we waiting so long to find out how much we are getting F'd?
Guantanamo much?
Yeah, go Sanders!! Yeahhhh, F them! F em alll!!!!
Obama rulz ... or is he ?
http://tinyurl.com/3ud4qt
Too many crooks spoil the broth.
So this Bill now is about income and sales taxes, mental illness, and solar power? These are all good things but as part of this bill? This is just incredible.
Clinton you bitch!
Schumer you Bitch!
PASSED.....SHIT!!!
Now Cramer can got nuts and proclaim the market has bottomed and is on it way to Dow 16,000.
P A S S E D
Very accurate prediction, 74-25. Dow will be up 300 tomorrow!
Well, the squeamish Senators just make you want to puke, Keith. It is beyond belief that both democratic and repulican presidential candidates are falling all over themselves, pushing this loser of a bill. This really goes to show that there is no true representation for the common man. But, ahhhh, Wall Street fat-cats are truly represented in the Senate. It's truly sickening.
These squeezebags/gasbags in the Senate, are just little-timers without the mental capacity to handle a big problem.
Listening to Harry Reid and Mitch McConnell, makes me really scared for the future of our country. These two guys are really mentally unstable. They might be good real-estate agents, but we're screwed with them being in the Senate.
Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25
What if you don't have any debt? Don't pay your taxes then?
flyingmonkeywarrior 9:47 PM, THANK YOU for that. Nice summary. Confirms all my suspicions.
Keith,
I'm curious -- if the grand ole USofA did manage, someday, somehow, to get its shit together -- are you coming back, or are you a permanent expatriate regardless?
as a matter of principle, I would rather make a sacrifice now, than having my daughter inherit our overwhelming debt. NO TO BAILOUT!!!
The national and local "write your representative" websites are not working tonight.
Either 1) Conspiracy; Paulson and Co. have the lines of the real American people cut off to their representatives or 2) That many Americans are pissed off at tonight's vote and writing their representative to vote "NO"!
Economic Terrorism?
Are large banks such as Goldman Sachs involved in Economic Terrorism against The United States?
In order to force the hand of Government to give the banks a free handout of $700 Billion through the bailout, are large banks intentionally tightening credit and/or driving down stock markets in order to make Government believe the situation is dire?
Are they using their position of monetary power to hold the economy hostage until they get their way?
He who holds the gold makes the rules.
.
Liberal Dems
Pro Choicers....pro abortionists
Tree huggers
Limp wristed men
Hairy armpitted women
Gay rights activists
Party of Pelosi, Frank, Obama, Biden, Clintons, Boxer, Feinstein, Sheehan, Kennedy....yada yada
F**K all of You Rat Bastards!
You Socialistic sell-outs!
.
The Senators added tax breaks...Fuck Fuck Them....Mother...Fers.
I am so sick of the fucking media and politicians.
Keith, I have lost confidence in BOTH canidates. Here Obama says no tax cuts for the Rich and the fucking mother fucker republicans added THEM in the new Bail out.
Fuck them.
My kids will suffer and all I hear are the fucking GREEDY mother fucking republicans who don't want to pay their share...They are leaving it for our children.
Leave me in room with each fucking REPUBLICAN POLITICAN AND YES YOU FUCKING MORON CABEL NEWS....THE DEMISE OF AMERICA STARTED WITH FUCKING FOX MSNBC AND CNN...FUCK YOU. WE NEED A REVOLUTION OF PEOPLE. WE NEED TO KICK THE MOTHER FUCKERS OUT OF WASHINGTON. DON'T SHOW ME A LAWYER AGAIN WHO IS RUNNING FOR A GOVERNMENT JOB. GREENSPAN YOU PIECE OF SHIT I HOPE YOUR GREED AND POWER WAS WORTH IT. AMERICANS ARE SUFFERING NOW, AHHHH BUT THEY ENJOY 3 JOBS REMEMBER BUSH SAID TO A WOMEN WHO SAID SHE WAS WORKING NUMEROUS JOBS...HE THOUGHT THAT WAS GREAT. WELL FUCK YOU....
SORRY KEITH I JUST CAN'T TAKE IT ANYMORE...I AM MIDDLECLASS AND IF I LOOSE MORE OF MY PAYCHECK TO TAXES WE WONT MAKE IT.
http://www.apocalypsesoon.org/xfile-44.html
Get your cash out of the banks people. The sh*t is hitting the fan.
Anyone want to guess what the market does tomorrow on this overwhelming Yes vote?
----------------------
down. sell the news baby.
Thanks congress, you just spent 700B plus my 401k dropped in value.
Anyone want to guess what the market does tomorrow on this overwhelming Yes vote?
Asian markets are down in response. The market knows where the money is coming from but apparently congress doesn't.
Roll Call of traitorous Senators who voted for the Bailout. Vote them all out!
http://coloyan.com/politics/rollcall-bailout-senate.html
wow, my senator, Wyden-D voted against it.
The other, Smith-R voted for it.
Smith is in a tight race here in Oregon. I am willing to bet that this might have just sealed his fate to return to private life. I can't stand his opponent but i am going to donate to his campaign right now.
Keith .
I don't know if you caught the fact that the Senate in effect kept the Paulson Plan ,and also sdded a increase in the FDIC limits . This effectively increases the bail out to be unlimited . They should of done the Paulson Plan or the FDIC increase ,not both . If you add up the prior amounts that have been extended and add to that the Paulson Plan ,and now the increase in FDIC ,than you have raised the Bail Out to at least 3billion of money that would need to be borrowed . The FDIC increase in insurance should of been on the bill only if they would of struck the Paulson Plan , This is highway robbery ,right in front of our eyes ,they do think they can pull this off .
Please be advised that a lot of people would miss this little fast won that they just pulled . Write your house of representative and tell them that they can not pass a bill that is in effect unlimited in the amounts .
Come on HPers, admit it. You all fucked up. You played by the rules and for nothing. Everyone played on their own rules and will now be bailed out.
Come on guys, just admit it. I'm not trying to rub your faces in it, but I would like at least an admission of guilt.
What guilt? Guilt that HPers spread the truth and did not borrow excessively?? Get lost.
very funny stuff concerning wamu
http://tinyurl.com/3vp8ac
Senators stuffed the economic rescue aka bailout bill with fat tax breaks and other PORK before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.
In the House, leaders were working overtime to sway enough opponents of the bill to push it through by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plummeting.
Both parties' presidential candidates, Republican John McCain and Democrat Barack Obama, made rare appearances to cast "aye" votes.
In the final vote, 40 Democrats, 33 Republicans and independent Sen. Joe Lieberman of Connecticut voted "yes."
Nine Democrats, 15 Republicans and independent Sen. Bernie Sanders of Vermont voted "no."Here is a list of the Bailout vote in the Senate.
CNN reports these are the Senators who voted No:
Allard (R)
Barasso (R)
Brownback (R)
Bunning (R)
Cantwell (D)
Cochran (R)
Crapo (R)
DeMint (R)
Dole (R)
Dorgan (D)
Enzi (R)
Feingold (D)
Inhofe (R)
Johnson (D)
Landrieu (D)
Nelson (FL) (D)
Roberts (R)
Sanders (I)
Sessions (R)
Shelby (R)
Stabenow (D)
Tester (D)
Vitter (R)
Wicker (R)
Wyden (D)
How the Senate voted Wednesday on the financial bailout bill (S. Amdt. 5685 to H.R. 1424):
Akaka (D-HI), Yea
Alexander (R-TN), Yea
Allard (R-CO), Nay
Barrasso (R-WY), Nay
Baucus (D-MT), Yea
Bayh (D-IN), Yea
Bennett (R-UT), Yea
Biden (D-DE), Yea
Bingaman (D-NM), Yea
Bond (R-MO), Yea
Boxer (D-CA), Yea
Brown (D-OH), Yea
Brownback (R-KS), Nay
Bunning (R-KY), Nay
Burr (R-NC), Yea
Byrd (D-WV), Yea
Cantwell (D-WA), Nay
Cardin (D-MD), Yea
Carper (D-DE), Yea
Casey (D-PA), Yea
Chambliss (R-GA), Yea
Clinton (D-NY), Yea
Coburn (R-OK), Yea
Cochran (R-MS), Nay
Coleman (R-MN), Yea
Collins (R-ME), Yea
Conrad (D-ND), Yea
Corker (R-TN), Yea
Cornyn (R-TX), Yea
Craig (R-ID), Yea
Crapo (R-ID), Nay
DeMint (R-SC), Nay
Dodd (D-CT), Yea
Dole (R-NC), Nay
Domenici (R-NM), Yea
Dorgan (D-ND), Nay
Durbin (D-IL), Yea
Ensign (R-NV), Yea
Enzi (R-WY), Nay
Feingold (D-WI), Nay
Feinstein (D-CA), Yea
Graham (R-SC), Yea
Grassley (R-IA), Yea
Gregg (R-NH), Yea
Hagel (R-NE), Yea
Harkin (D-IA), Yea
Hatch (R-UT), Yea
Hutchison (R-TX), Yea
Inhofe (R-OK), Nay
Inouye (D-HI), Yea
Isakson (R-GA), Yea
Johnson (D-SD), Nay
Kennedy (D-MA), Not Voting
Kerry (D-MA), Yea
Klobuchar (D-MN), Yea
Kohl (D-WI), Yea
Kyl (R-AZ), Yea
Landrieu (D-LA), Nay
Lautenberg (D-NJ), Yea
Leahy (D-VT), Yea
Levin (D-MI), Yea
Lieberman (ID-CT), Yea
Lincoln (D-AR), Yea
Lugar (R-IN), Yea
Martinez (R-FL), Yea
McCain (R-AZ), Yea
McCaskill (D-MO), Yea
McConnell (R-KY), Yea
Menendez (D-NJ), Yea
Mikulski (D-MD), Yea
Murkowski (R-AK), Yea
Murray (D-WA), Yea
Nelson (D-FL), Nay
Nelson (D-NE), Yea
Obama (D-IL), Yea
Pryor (D-AR), Yea
Reed (D-RI), Yea
Reid (D-NV), Yea
Roberts (R-KS), Nay
Rockefeller (D-WV), Yea
Salazar (D-CO), Yea
Sanders (I-VT), Nay
Schumer (D-NY), Yea
Sessions (R-AL), Nay
Shelby (R-AL), Nay
Smith (R-OR), Yea
Snowe (R-ME), Yea
Specter (R-PA), Yea
Stabenow (D-MI), Nay
Stevens (R-AK), Yea
Sununu (R-NH), Yea
Tester (D-MT), Nay
Thune (R-SD), Yea
Vitter (R-LA), Nay
Voinovich (R-OH), Yea
Warner (R-VA), Yea
Webb (D-VA), Yea
Whitehouse (D-RI), Yea
Wicker (R-MS), Nay
Wyden (D-OR), Nay
Schiff laughing at Lawrence Yun on Bloomberg on Monday.
http://www.europac.net/Schiff-Bloomberg-9-29-08_lg.asp
Blogger Frank@Scottsdale-Sucks.com said...
Breaking news: Moderator of tomorrow night's VP debate is an open Obama supporter, who is pushing for an Obama victory to boost her own book sales.
C'mon, as much as you hate McCain, admit that Obama is only ahead because the media has rigged this entire election and the American sheeple are too damn stupid to see it.
October 01, 2008 8:04 PM
Oh so true and the liberal left wing media is responsible for the housing market crashing, supporting Osama Bin Laden, being anti-American, and hating war heroes who were tortured. Frank, you Da Man!
Wake up Keith! The world is burning.
An explanation of the bailout by Dennis Kucinich:
"The taxpayers loan money to the banks. But the taxpayers do not have the money. So we have to borrow it from the banks to give it back to the banks. But the banks do not have the money to loan to the government. So they create it into existence (through a mechanism called fractional reserve) and then loan it to us, at interest, so we can then give it back to them."
http://www.wpix.com/landing_election_news/?Ron-Paul-Dennis-Kucinich-Lipstick-off=1&blockID=75347&feedID=65
http://tinyurl.com/3v3nef
Anonymous Anonymous said...
My fax machine is smoking!
The message is simple:
"If this bill passes I will join those who have stopped being responsible and I too will stop paying, on EVERYTHING. I'll get my part of your evil bailout! I will not be a victim anymore!"
October 01, 2008 9:14 PM
Hey Fucked Borrower, I think you are a day late and a dollar short!. It's too late, the party is over.
i am gonna be taxed so that the banks can continue to use my one dollar deposit to print up 10, 20, 30, or even a hundred debt dollars indistinguishable from my dollar and used to compete against my dollar in the buying of goods and service, taxed because i would refuse to put my dollar in the bank to allow it and get a loss of purchace power like the 90 percent it lost in relation to housing..tax dollars will continue it rather than the strengthening of fdic and letting the banks fail..must not have paid enough bribe to politicians?
Welcome to Amerageddon.....
75-25, Keith.
But then, really what are the chances of the House voting for it?
If the market goes up, we can argue it's unnecessary. If the market goes down, we can argue it won't work.
Regardless, it's time to fire up our phones and faxes again. We gotta do a repeat of Monday, there is no way in hell Dub-yuh will veto the bill.
I'm off to go fax Norm Dicks into oblivion...
I think we all need to be much more organized in order to make our voices heard loud and clear. As long as we are not organized we will get nothing done.
The 'bought and paid for' senators have done their duty to the masters of the universe.
The honourable senate of the United States of America, protecting the interests of Wall Street, working for Wall Street and standing by Wall Street in their hour of need.
These honourable men and women passed the bailout bill to save the honourable institutions they really represent.
This November, you, the American voter will have to make a choice in the presidential election between selecting a 'Wall Street owned' McCain or a 'Wall Street owned' Obama who has promised to bring 'change' to Washington.
Apparently 'CHANGE' means MORE OF THE SAME !
WE HAVE BEEN HAD !!!!!!!!!!
Post a Comment