Senate Democrats’ stimulus-palooza defeated
Yes! The Senate Republicans held the line on stimulus-palooza this evening. There is hope for the GOP yet:
A Democratic proposal to curb rising home foreclosures by changing bankruptcy law failed a key test vote in the U.S. Senate on Thursday.
In a largely party-line vote, Republicans blocked the measure from moving ahead, although lawmakers said it may be reconsidered later, possibly with amendments.
As proposed, the bill would let bankruptcy judges erase some mortgage debt; spend more money on fixing abandoned properties and funding debt counseling; and give businesses a tax break. The White House had threatened to veto the bill.
Harry Reid whined on the Senate floor that “Big Banks” and “Wall Street” are high-fiving each other over the Dems’ defeat.
No. Responsible homeowners and taxpayers are high-fiving each other.
Suck it up.
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Trackbacks
- UrbanGrounds » Blog Archive » No Bail Out for Sub-Prime Mortgage Gamblers
- Yet another Boo Freakin Hoo moment… « Cowardly political musings…
- Michelle Malkin » Democrats pushing Stimulus-palooza, Part II
Comments
You must be logged in to post a comment.
Categories: Subprime crisis
NewsBusters.org
» NBC's Andrea Mitchell Hides Ayers Bombing Past
Pajamas Media
» Ayers-Dohrn-Obama Tie Shouldn’t Be DismissedJustOneMinute
» Ayers And KeatingJustOneMinute
» History Repeats: David Axelrod Lying About Obama And AyersLittle Miss Attila
» Patterico: The McCain Campaign Starting to Connect the Dots Between the Democrats and the Mortgage Crisis.Patterico
» Obama and Ayers, Together AgainRiehl World View
» McCain Hits Dems, Obama On Financial MessHotline On Call
» McCain: "Who Is The Real Barack Obama?"Stop The ACLU
» McCain Finally Rips Obama for Fannie Mae Crisis
This is great news, Mrs. Malkin. This a victory for responsible, disciplined homeowners across the country. It’s heartening to know that not everyone in Congress sees it as his/her duty to make mortgage payments for us.
Great news Michelle, big THANK YOU for posting.
Did you see the RNC has made it official Broack Hussein Obama’s middle name can not used by Republicans when referring to him? My party just keeps leaving me further behind.
Good news, this evening. I hope that they hang in there and refuse the amendments too. I’m tired of everyone being “a victim” with the Congress rushing to bail them out. The people who pay their mortgages thank the Senate…for now.
The battle is won this time. However as with much of the legislation in front of the do nothing legislators. I think the democorupts are bidding their time till after the election. This in hopes they pick up more seats and can ram their sociolist policies down oour throats.
Hmmm. Don’t see many abandoned properties in Republican neighborhoods, do you? Wonder where those dollars were going to be spent.
Great news! Score one for the good guys - and the tax payers!
Could it be that the good Senators are (finally) starting to read the writing on the wall?
Again, pretty amazing that they have the time to debate how they will spend our money but not enough time to discuss the security of our Nation.
At least this one did get defeated for now. Somebody will most likely be attaching it as a pork barrel to another bill somewhere though.
Mr. Reid-
I’d love to see the video of this, or any other evidence you have to support your statement….. Otherwise, I suggest you leave the ridiculous and unsubstantiated rhetoric outside the the doors of the Senate!
Thank you for posting this Michelle! I was just getting ready to write my Congress critters about this very subject. I was going to load up on some ammunition from the earlier post. Now I get to thank my Senator’s for holding the line a very pleasant surprise ending to this fiasco (for now).
Thanks for the good news, Michelle
CarpiJugulum is write in calling this a “battle..won”. But, the war on this stimulation fiasco isn’t over, I am afraid.
I see Pelosi wants the Justice Dept. to investigate Bolten and Meirs for contempt of Congress. Sigh…when will this political nonsense end, so we can get back to the business of running this country properly? I am really sick of this childish behavior by grown elected people. If the Speaker acts like a 6 year old, can you send her to the corner for a time-out?
Then he called his “I know his last name” friend “Tommy” to make him feel better. boo hoo again Harry you Crapweasel.
Graysonret,
See now thats part of the problem. Lets give them a time out. Time outs do not work very well. Simple human behavior explained with Pavlovs theory. A spanking is what is called for. Now before any one yells child abuse, listen up. There is not a fine line between abuse and spanking. A beating is abuse. A spanking with a firm hand is not. When a child is smaked firmly but not hard on the behind it is the thought that makes the child cry. A physical reinforcement of the negative.
So instead of giving nancy a time out I say a metaphoric spanking with a massive conservative turn out in the election for CONSERVATIVE candidates.
graysonret re:”…I see Pelosi wants the Justice Dept. to investigate Bolten and Meirs for contempt of Congress. Sigh…when will this political nonsense end,…”
It will end when Dems start getting investigated… & not until.
Anyone care to offer a name & reason?
Caught a few minutes of my useless senator Casy whining about loss of the 200 million for counseling that would have gone through wonderful groups like LaRaza and Acorn because they are groups that know how to reach the people. (puking on my keyboard)Just so you know, I am a Democrat but I voted for Santorum. Also had a note from Rep. Metcalfe who started the States for Legal Immigration movement. Apparently the UN is hinting at this group of sixty state legislators as a hate group. We need help!!!
AuntiEm, If elected, relocating the UN to Nigeria (or maybe Somalia, Hmmm) will be on my top 10
Fantastic!!!! Harry Reid whined because he has the maturity of a 12 year old. Thank God the responsible people prevailed…..Harry.
Ooops. Too late for caffeine this time of night.
You know, I was in Maryland this weekend helping my youngest sister -just returned from Iraq active duty military soldier now working at Walter Reed- buy a house. She’s a first time home buyer. I was shocked at how much credit has dried up for the responsible borrower - this girl had 3 credit scores above 800!
Even using a VA loan (which is a ripoff with a 2% fee that you roll into the mortgage!) interest rates are still high and some of the products that I’ve always purchased my homes with (interest only, 80/20’s, etc) are not really available - unless you want to give them a fortune in interest. The actions of a few are drying up the market for the masses, and Congress is whining for the few. What about us? The people that aren’t in foreclosure.
May I offer some suggestions on home buying.
Look the bottom line is buy what you can afford. Now on the market. This is my opinion ok. But wait a year. The market, especially in Colorado has been so over valued. A home that is in reality only $250,000 is being sold for $400,000. The market here is full of these rip offs. Ripoffs perpetuated by those who apraise, those who finace and those who build.
I see the consumer pulling back because they will not pay the high price. I could easily go into the shoddy quality and the profiet margin that the large corporate builders and finacers are not getting (hence the shadey loan deals at interest only crap).
One is really better off building (being general contractor) thier own place. Or actually looking into some of these forclosed homes and remodeling.
I to wanted to use my V.A. home loan but it is another government ripoff. I will never bother with it. So I am saving up.
Yes. Not much, but there is hope. Well done. And thanks for being out front on these issues Michelle. Together we are all making a difference.
Is Dirty Harry up for re-election this year? Can we find a good candidate to get rid of this socialist pimp?
There is no question this will pass. It is an election year and the Republicans as always are desperate to sign on to a deal with the democrats. However, I think they are trying to work something out along the lines of a FISA exchange — we pass your bloated, pointless, spending bill and you in turn pass FISA, please. With the Republicans unfortunately, never get your hopes up when it comes to real politick. Far more likely is that the spending bill will pass, then another, and all along FISA will remain there dangling out of reach until the next democrat administration kills it. They know, like we all know, whatever the nature or degree of the next terrorist attack on this country, Bushco will get the blame. What a life it must be to live it as a Dem.
Reid whining? Isn’t this his normal demeanor? The man has a perpetual grimace on his corkscrew-twisted puss!
Carpi, I would vote for a spanking anytime, unfortunately, these days, that could be considered “assault” and “child abuse”. About the only thing left is time-outs. Must not touch the “kiddies” in Congress… Besides, I couldn’t stand seeing Hillary crying again, or Reid “whining” again. Maybe if we tell them that, if they’re good, they all get a lollipop at the end of the session…..
I just heard on the news that car repossessions are way up. People can’t afford the payments and gas. In fact, the repo guys are complaining that they can’t keep up with business. Hey, Congress, hear that? We’ve got a major crisis here! People have to drive cars; we need to bail them out. Let’s see…house bailout, car bailout, food stamps, unemployment checks, welfare…why the heck am I going to work, this morning?
Don’t you just love socialism?
I keep hearing about how these loans were generated at Congress’ request to let more “poor” people into their first homes. Is there any documentation on this?
Welfare for the irresponsible. Unless one is held accountable for one’s free choices, we are not free.
Mngirl, I’m glad your sister got home safely. My husband spent a few weeks there his first time and they were fantastic. I’m sure your sister is as well. My husband and I just closed on a home in NOVA and we also have scores above 800. We were shocked at just how hard it was to actually get a loan as well. Luckily we did do well on our HI home or else we’d be renting. I hope your sister has good luck in finding something and getting that loan.
Amen to that but we’re made to feel like mean people for saying that. Those of us who have always paid their bills on time, who did not buy more of a house than we could afford, not been on welfare are made to feel like we owe these people something because they failed to read the fine print or made poor choices in their lives. There is no personal responsibility or shame anymore. We have to make sure everyone wins a trophy and everyone has their self-esteem.
Darkness is just the absence of light.
Thanks for being that light Michelle.
It was getting pretty dark there for awhile.
“Better to light a candle than to curse the darkness.” ~ Chinese Proverb
Don’t come to me for sympathy for these people or the banks & morgage companies that loaned the money, when they knew full well the borrowers could not possibly pay it back.
Actions have consequences people.
Mngirl, tell your sister that if she can get a disabled vet rating, the VA Funding fee is waived (forever). While I don’t endorse faking injuries or anything like that, it IS possible to get a 0% disability rating from the VA for things like psychological problems, back pain, scars, hearing loss, etc.
Alot of military personnel don’t take advantage of the VA. Every single veteran should go to the VA and get rated as soon as they’re discharged. Since it sounds like she’s still active duty, I know this doesn’t help her much now, but make sure she does this when she gets out.
The money is there for our vets, if she doesn’t use it, Congress will, and we don’t want that.
graysonret said
The democrat leadership isn’t much smarter than fish. They keep forgetting who votes for them.
housing bailout = free rent/home
car bailout = (I hope they are not that silly)
food stamps = free food
unemployment
welfare checks = free money
Universal healthcare = free medical care
Knowing their constituency is hooked on the word “free” they should say, “hey, we are going to let the free market take care of this”. Their gullible followers will eat it up. And the problem will solve itself. And of course they can take credit. Que up the camera for Schumer.
Mngirl, sorry I’m still off topic, but your sister can also get a No-money-down VA home loan too.
Btw, interest rates are not high. They’re about as low as they’ve been in the past 2 or 3 decades. The ’80’s saw rates in the 16% range. So 5.5% or 6% is still a REALLY good rate.
Mr. Vibeman, off topic as well. We did get the 5.5% rate (fixed) but it was hard to get a loan. We have great credit as well but we now live in NOVA and housing prices here are similiar to HI (obviously the houses are a lot bigger) but without the COLA that went along with living there.
I used my VA when I bought a townhouse about 11 years ago. At the time, my realtor wanted me to go with a regular loan but decided not to. Wished I had done that later but . . . Also my husband used his at 19 to buy a single wide trailer when he was a PFC. I don’t believe you can use them for trailers anymore (well that’s what I was told and it could be wrong). I wouldn’t encourage anyone to buy one of those things if you can help it. It’s worse than driving a new car off the lot as far as resale goes. Maybe I should change my name to the Queen of the Single Wide Trailer but it did help us get the homes we have been albe to buy since so I guess I shouldn’t mock it too much.
Terrig, good for you getting a place in NOVA. Prices here are horrible. There won’t be much profit in buying around here. My wife and I have been discussing a relocation down to Norfolk/Chesapeake area. My daughters have some nice homes there and I can transfer work to another office there. Well, we’re talking about it….
With the three liberals running for president, the Senate is our last firewall. It is imperative that everyone gets out this year and supports their conservative Senate candidates.
Good. If you buy too much house or enter into a mortgage loan that you didn’t do any research on, you will not be bailed out. Time to grow up and be responsible adults instead of whiny, spendthrift children.
As to the whole who’s high-fiving who: banks aren’t high-fiving Wall Street. I won’t be surprised if some of them don’t fold over this.