I'm no fan of government bailouts of markets, but this is a special case. Considering that there is the very real possibility of a collapse of our credit markets if something doesn't get done, the fact that so many Democrats and Republicans voted "no" tells me less about the merits of the bill and more about the fears they probably have of an opponent being able to run an ad along the lines of, "My opponent [fill in the blank] voted to bail out the greedy wall-street fat cats, [He/She] doesn't care about the problems of main street, yada, yada, yada" To me this is more about the fact that members of the House are up for reelection every two years and could face the possibility of being jobless if they pass this through (regardless of whether or not it's the right thing to do). In my opinion, doing nothing in this particular instance isn't just stupid, but near criminal in negligence; these representatives need stop trying to play CYA and do their god damned jobs for a change.
yes, we should just rush and sign the second draft of a rushed bill that will affect us all for 10 years. I say a freeze on all bonuses and raises on companies that are getting assisted with bailouts. executive compensation is readjusted! If we have to pay for their bailouts, all those fuckers get a 50% pay cut.
No It failed because there is no one in charge in the Republican party. The party leaders were all in favor of the plan McCain was in favor of the plan Bush was in favor of the plan John Boehner was in favor of the plan They couldn't deliver. All the republican representatives from Arizona voted against the plan. McCain couldn't deliver votes from his own state Most of the republican representatives from Texas voted against the plan. Bush couldn't deliver the votes from his own state.
Well, I'm happy because the bill failed. She's happy because... well. You can't see my right hand in the picture, can you? Ed o.
OK I've been taking a bit of a beating for blaming Bush on this. And maybe it was an extreme statement as I will admit you can't put this whole thing on Bush. But I was just watching CNN (I know consider the source) and they (panel of 3) were basically saying Bush has no cred, no one is listening to him and because of that the general public doesn't get how big this is. They cited stats about how many are against bailout (50-1) and blame it on the fact Bush can't get anyone (public or congress) to listen and it puts the house reps in a tough spot when the public isn't behind them. Not exactly my take, but elements that there is some blame or at least lack of Bush credibility that factors into this ugly mess.
Uhhh..maybe its because the bailout is a totally offensive idea to many republicans and americans? I don't think it has to do that much with Bush that the public and republicans don't like it.
Uhhh maybe . . . or maybe Bush just hasn't gotten across how important this bailout is to the future of our country. The secretary of state has calls the sitaution dire. Buffett has said this is like the 9/11 for the financial sector. Obama and McCain both say there needs to be swift action instead of inaction. But maybe it's all a big bluff game. Fuck the bailout, let's roll the dice and see what happens. Besides, not many seem to be buying Bush's address to the nation about this issue.
People know what the consequences are. They just don't feel like its appropriate to bail out wall street. That's at least how I am. Probably others too, including many of the congressmen. Partisan politics aside, this is a very serious issue....but the process has to be run through the checks and ballances of the United States system of government...the executive branch of the government is not the end-all of what happens, despite what you may think. I, for one, am proud of those that voted against this bill and with their conscious instead of fear mongering and partisan bickering. This issue trumps that, and if further modifications HAVE to be made in order to make this thing go through, so be it. Look, they're taking the next two days off to vote again....they are continuing "as usual" with their campaigns even though this action can decide the next DECADE of the US Economy....to me, it seemed extremely "rushed" and "pushed" and whenever you do that, there are a bunch of little items they slip in there.
Seriously, maxiep, you are claiming that Obama torpedoed the bailout? I think that is as ridiculously partisan as claiming McCain torpedoed the bailout. barfo
David Gergen has a few things to say: http://ac360.blogs.cnn.com/2008/09/29/recovering-from-todays-disgrace/
Of course not. I was merely highlighting to those who want to paint the Republican candidate as the root of all that's evil on Capitol Hill that the other side isn't clean in this issue.
