Kill the bailout: The vote draws near; Lindsay Graham quivers; watch Sanders’ tax-the-rich surcharge
Scroll for updates…liveblogging the final hours…
Conservative stalwart GOP Sen. Richard Shelby is speaking on the Senate floor against the Bush/Pelosi/Reid/Frank/Dodd/Paulson Crap Sandwich. Thank you, Sen. Shelby.
Also against: Fellow staunch conservative Sen. Jeff Sessions. Thank you, Sen. Sessions.
On the other side of the aisle, Dem. Sen. Bill Nelson of Florida has just announced his opposition on the floor.
We are just a few hours away from the vote. No hearings. Rush, rush, rush.
Long live the deliberative process.
Tons of you have e-mailed your stories of not being able to get through to Congress. I share your frustration, but keep trying: 202-224-3121.
The beast keeps growing and growing and growing:
The Senate hopes to revive Treasury’s $700 billion financial rescue plan Wednesday night by packaging it together with more than $100 billion in popular tax breaks as well as aid to rural schools important to House Republicans.
To calm voters fearful of bank failures, the $100,000 cap on federal insurance for deposits would also be raised to $250,000—a concession backed by both parties but also aimed at community banks who can be helpful in building small town support for the larger bill.
With each permutation, the bill has steadily grown in size. Treasury’s initial plan was about three pages long. The House version, which failed, stretched to 110. The Senate substitute now runs over 450 pages. And tucked away in the tax provisions is a landmark health care provision demanding that insurance companies provide coverage for mental health treatment—such as hospitalization—on parity with physical illnesses.
Really a bill onto itself, the mental health parity measure has been a bipartisan priority for top lawmakers in both chambers but has stalled because of disagreements again over how to pay for its estimated $3.8 billion five-year cost. In the current climate, that seems to be no longer a stumbling block, and if the Treasury plan becomes law, it will also.
Tell your Senator: Don’t swallow Crap Sandwich 2.0.
Ick: Lindsay Graham just took the floor.
Update 6:45pm Eastern. Oh, for crying out loud. Graham just ended his Main Street paean by declaring he’ll “vote his conscience” with a quiver in his voice. “I know this is not a perfect bill and I know this is a bad choice, but I also know from my common sense and my life experiences that I need to act and I need to act now and I will.”
Flashback: Remember his hissy fit on the Senate floor during the shamnesty battle?
Man up already.
***
Here’s conservative stalwart Sen. Jim DeMint’s floor statement opposing the bailout behemoth. Thank you, Sen. DeMint.
Update 7:24pm Eastern. Senate staffers say Bernie Sanders’ tax-the-rich surchage will go down on a voice vote. It’s the only amendment that was allowed. Stay tuned.
Senate staffer notes: “Curious isn’t it that on the bailout… er, sorry, we’re not allowed to call it that anymore… the ‘profit-generating, rescue for Main Street, civilization salvation’ bill that the only amendment allowed is by the only avowed socialist in Congress.”
Indeed.
Update 7:28pm Eastern. Dianne Feinstein recounts receiving 85,000 calls against the bailout…and then goes on to explain how they are all stupid and ill-informed.
7:34pm Eastern. Ok, a break from bailout mania for debate on the Amtrak bill.
8:52pm Eastern. Harry Reid is rambling on about a Senate staffer who’s retiring. It’s David Tinsley, legislative clerk. He gets a nice round of applause.
8:57pm Eastern. Mitch McConnell is warbling about bipartisanship.
I repeat: McConnell is toast.
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I heard on Fox around 5PM that there was a phone call with Treasury Officials and Wall Street assuring them that the regulatory aspects of this Bill were deliberately vague so as to be unenforceable.
I haven’t seen any follow up. So what gives.
I see a number of Senators proclaiming (*cough McCain *cough)this new bill much improved. How do you improve a shiite sandwich, I ask? Switch to Sunbeam bread?
WATCH THIS….
http://www.youtube.com/watch?v=usvG-s_Ssb0
Am I dislexic – I thought you wrote Linsay Graham just licked the floor…
et…what gives is we are being screwed. Have you noticed that Wall Street tanks every time they even talk about a bail out and then goes back to business when it isn’t imminent. But, of course, according to poly sci degree holder and now FOX financial expert Alexis Glick….we are imagining that…..
Maybe instead of calling it FOX it should be called FUX.
My rhetorical question is repeated again: Why should we take the powers that be seriously when they refuse to act as if there really is a crisis.
This senate bill is ballooning with pork that is completely unrelated to keeping us out of a financial meltdown. If the bill is unimportant enough to play politics with, why should I believe it’s important enough that it cannot fail?
Anyone?
Wonder what would happen if you sprinkled salt on him?
I wish the fire alarms would just malfuction so they have to clear the place. Buys time.
I hope Lindsay Grahmnesty loses out to the Democratic opponent this year (the guy running against him is a former Republican).
This new bill is simply 400+ pages of payola!
Stop the looting of the Treasury now
What kind of Chicken Little alarmist garbage is THIS:
Awesome job Sens. Shelby & Sessions. I may have to move to Alabama.
Even if this passes tonight, it can still die in the House, yes?
Tell me, are the Flop Sweats, really, really Bad?
It’s grown to a Dagwood crap sandwich with layer upon layer of delicious pork for the politicians to gorge themselves upon. My dad told me a long time ago you can’t make chicken salad out of chicken $h*t. Apparently, my dad was wrong. Thank God he rests in heaven and doesn’t have to see the hell we are going to pay for the government lunch.
The Democrats became Socialists, and the Republicans became Democrats. Yeesh! There are so few principled leaders left in our country today.
I don’t suppose that anyone has bothered to point out that all spending bills must originate in the House?
I.e. that this entire charade tonight is utterly and completely unconstitutional?
Not that anyone gives a d@mn about the Constitution.
Graham’s closing thought “I know this is not a perfect bill and I know this is a bad choice [emphasis mine], but I also know from my common sense and my life experiences that I need to act and I need to act now and I will.” {Voice quaking]
That’s about the stupidest thing I’ve ever heard in my life!
et#1
That was reported by David Sirota, he was on Fox but I didn’t hear anything further on that sound byte I goggled to see if I could find a reference with no luck.
googled it to see if I could find the reference for that sound byte no luck:
Great point, now let’s all ask our senators how they feel about that one.
I’ve known since the beginning the entire bill will be too much to read before it is passed — another one shoved right up our wahzooo!
It will pass, and if you squeeze it, you’ll get nothing but the grease from PORK!
that ’s the way I thought it was suppose to work, but maybe that part of the Constitution has been out lived as libs like to say.
Just waiting for my two senators to get up and denounce the bill, Sens. Cantwell and Murry.
Waiting………..
Still waiting………..
Oh well, I can dream can’t I?
Sarge
The Watch Word here and should be the top topic of every blog tomorrow should be “Fleeced”
They say 10 Republicans won’t vote for this that isn’t enough they only need 60 Senators for this thing to pass.
Obama will have the Germans re-write it for us.
Well, IIRC mark to market was one of the things to prevent another Enron, WorldCom, Global Crossings meltdown.
So let’s suspend the only tool designed to limit the effects of the “off balance accounting” (or the tell some of the truth some of the time accounting)
Since Congress was stupid enough to guarantee Fannie and Freddie loans, how about we start with funding paying for those in default and making up a mechanism to recover what we can from the defaulting home owners.
Then see what we have left.
Here who is up for re election and retiring.
# 3 Races
* 3.1 Retirements
o 3.1.1 Wayne Allard (R) of Colorado
o 3.1.2 Larry Craig (R) of Idaho
o 3.1.3 Chuck Hagel (R) of Nebraska
o 3.1.4 Pete Domenici (R) of New Mexico
o 3.1.5 John Warner (R) of Virginia
* 3.2 Democratic incumbent races
o 3.2.1 Mark Pryor of Arkansas
o 3.2.2 Joe Biden of Delaware
o 3.2.3 Dick Durbin of Illinois
o 3.2.4 Tom Harkin of Iowa
o 3.2.5 Mary Landrieu of Louisiana
o 3.2.6 John Kerry of Massachusetts
o 3.2.7 Carl Levin of Michigan
o 3.2.8 Max Baucus of Montana
o 3.2.9 Frank Lautenberg of New Jersey
o 3.2.10 Jack Reed of Rhode Island
o 3.2.11 Tim Johnson of South Dakota
o 3.2.12 Jay Rockefeller of West Virginia
* 3.3 Republican incumbent races
o 3.3.1 Jeff Sessions of Alabama
o 3.3.2 Ted Stevens of Alaska
o 3.3.3 Saxby Chambliss of Georgia
o 3.3.4 Pat Roberts of Kansas
o 3.3.5 Mitch McConnell of Kentucky
o 3.3.6 Susan Collins of Maine
o 3.3.7 Norm Coleman of Minnesota
o 3.3.8 Thad Cochran of Mississippi
o 3.3.9 Roger Wicker of Mississippi
o 3.3.10 John Sununu of New Hampshire
o 3.3.11 Elizabeth Dole of North Carolina
o 3.3.12 Jim Inhofe of Oklahoma
o 3.3.13 Gordon Smith of Oregon
o 3.3.14 Lindsey Graham of South Carolina
o 3.3.15 Lamar Alexander of Tennessee
o 3.3.16 John Cornyn of Texas
o 3.3.17 Michael Enzi of Wyoming
o 3.3.18 John Barrasso of Wyoming
Kentucky needs to retire Mitch McConnell.
Corporate takeover of our government is in progress…Sorry I can’t even get drunk and vote for McCain…I would puke as soon as I reached the polling booth!!
Constitution??? What’s that????
I knew there was something fishy about his trip to Germany.
What was the name of that fictitious character Reid quoted during the Shamnesty Bill……he makes things up…that man is a buffoon!
Lindsay Graham’s official Senate web page.
http://lgraham.senate.gov/public/index.cfm?FuseAction=Home.Home
Washington Office
290 Russell Senate Office Building
Washington, DC 20510
(202) 224-5972
That is from Senate Lindsay Graham’s web page
One more thing for that fat loud mouth to steal in plain site…
Sarge, our two Senators are going to send us down the river no matter what we say. I called both of them over the weekend, gave the ’staffer’ my $0.02 and got platitudes and ‘thanks for callin’ and clicked right off the phone.
Remember their names, Maria Cantwell and Patty Murray. Unfortunately, Cantwell is there until 2013 and Murray is there until 2011. Assuming of course, that our country actually lasts that long.
Here is a link to all the Senators here:
http://www.senate.gov/general/contact_information/senators_cfm.cfm
I’m for insurance companies covering mental health hospitalization; I’m against government telling any business that they HAVE to do something. Let the market take care of something, pretty please??
By the way, if they’re making insurance companies cover it, why does it carry any cost, let alone $3.8 billion over five years??
This from the same government who wants to run and bill us for ALL healthcare nationwide?
Never. Trust. Government.
Failure after failure after failure.
What is wrong with people who think that more government is the way to go??
On October 1st, 2008 at 6:55 pm, Mookie said:
If McCain votes for it, that gives cover for enough other votes to switch in the House to pass it.
McCain “leadership” stinks as much as the crap sandwich.
how come the Senate can introduce this? it says in the Constitution that spending bills MUST start in the house. Is the Senate truly above the law or what?
I got through to both Casey and Specter’s offices. Gave my message about being against the bail-out. Too many ear marks and pork attached. Not to mention that the whole thing just reeks.
Chris Dodd is giving a latin lesson.
On October 1st, 2008 at 7:14 pm, AlohaGuy said:
The new Constitution has already been written.
Fixed.
There’s more than just one. Sanders is the only one that has the guts to admit it.
This can’t be legitimate?
We’ve sent “thank you” faxes to DeMint, Vitter, Shelby, for speaking for us in a way that our own Reps. will not.
Is Domenici really not smart enough to understand, or does he just play dumb?
ANYWHOO, we’re still networking & getting the calls, Faxes, & E-mail in. WE WON’T STOP TIL THEY VOTE.
& IF THEY PASS IT IN THE SENATE WE WILL GO BACK TO WORK ON THE HOUSE.
WOW, Boxer’s a heck NO! Cool…
We’ve sent “thank you” faxes to DeMint, Vitter, Shelby, for speaking for us in a way that our own Reps. will not.
Is Domenici really not smart enough to understand, or does he just play dumb?
ANYWHOO, we’re still networking & getting the calls, Faxes, & E-mail in. WE WON’T STOP TIL THEY VOTE.
& IF THEY PASS IT IN THE SENATE WE WILL GO BACK TO WORK ON THE HOUSE.
WOW, Boxer’s a heck NO! Cool…
We’re not confused. We know a Harry Reid lie when we see one.
OOPS, did I press submit twice?
Sorry.
For those of us that have worked hard, lived within our means, paid our bills on time, saved for retirement, didn’t take the risks that perhaps would have made lots more money – but then, we might have lost what those investments and savings were – and now the gubmint overrides that noble effort and bails out every irresponsible risktaker. But, now we’re also going to pay for those risktaker’s mistakes, when they should be in jail. Haven’t seen any perp walk like we did with Enron and WorldCon….I want to see Paulson in handcuffs instead of walking away the the most powerful any non-elected person has ever been backed by our very own government.
Is it true that this bill, if passedf will give the Sec of the Treasury carte blanche at stopping forwclosures, and that if deserving those in foreclosure can just be given forgiveness on the rest of their obligation? No renegotiation? Does this mean that any tom dick or harry can say, I know I only make minimum wage, but I want that McMansion over there, and the govt will give it to them?
Anyone on this board want their neighborhood to become sectin 8 housing?
Is it also true that the Sec of the Treasury can decide that a bailout of foreign banks can be done, so that if say, the Big Bank of Chicom fails, we can bail them out?
This is what I gathered from a phone call from John Culverson to Dan Patrick (state Senator, Harris Co. TX) on Dan’s radio show today.
People, the fundamenals of this country aare going to change, one way or the pother. We can choose nationalization of our banks etc, or we can pray this fails and perhaps endure a depression.
The cunundrum? Socialism, which will never go away, or a deep recesion, perhaps depression, but still the country our founders envisioned?
What is Hutchinson saying, she will have to go all in for Texas, we get a big heaping helping of Crap? I said it before, she carry’s Bush’s water, she did the same thing on Amnesty.
Hey, California. Hear that? You’re stupid and ill-informed according to your Senator! She sure is stumping for your vote!
How’s that taste?
Hutchinson I am going to have stick it to you, for your own good…who takes things away from you for your own good?
Sigh. I wonder if anybody is up for a filibuster?
That’s the core of the liberal philosophy.
I won’t ever vote for Hutchinson ever.
The Amtrak bill that Dodd said we wouldn’t need 5 years ago?
Laree – Kay Baily is so in the tank of D.C. – she has/and will continue to vote according to whatever trips Bush’s trigger at the moment. It’s been rumored all over Texas she was going to run for Governor after Perry is no longer able to run – she wouldn’t be considered by conservatives for dog catcher. I remember sending her an e-mail about the shamnesty vote, and what I got back was the glorification of how immigrants (no mention of illegal activity) has contributed to this country and why we should educate their children through college – she’s a tool and mouths whatever she’s told.
John Cornyn of Texas, he is up for re election I will vote for whoever votes against this Bill.
24Klady, they are playing fast and loose with their Senate careers.
I’ve been hounding my senators all day. I just wrote this to both of mine:
Sadly, though, I line in California…
Update 7:28pm Eastern. Dianne Feinstein recounts receiving 85,000 calls against the bailout…and then goes on to explain how they are all stupid and ill-informed.
That “stupid and ill-informed” are the anti-bailout folks seems to have been the theme-du-jour.
Diane Feinstein never votes for her constituency. She is bucking for something far bigger. She’s coming back here to run for Governor and she’ll win.
She’s probably making sure that there’s some goodies for California that she can brag about during that election cycle.
She didn’t say they were stupid and ill-informed, she said she understood it better and is smarter than they are…. oh, OK, you’re right, that is calling them stupid by comparison…
REP Thaddeus McCotter (R) Michigan. We Can’t re inflate the Housing Bubble it CAN’T be done.
Just Say No to The Paulson Splurge.
McCotter (R) Michigan.
http://www.youtube.com/watch?v=7qA3cpYiz5k&feature=related
Laree, yes they are playing fast and loose not only with their careers but our future. Cornyn is in the hip pockets of H1-B and wanted to see it increased but he’s still the best we’ve got.
I am so disappointed with our elected critters, no matter what state they represent. They are no longer for the people but their own agenda. I’d rather have a root canal than vote this coming Nov., but I’ve got to suck it up and do it. God bless us all, we’ve tried to be good citizens and when we see those who don’t it’s very disheartening.
Being a Vermonter, words cannot describe how proud of Bernie Sanders I am.
/sarc off (before I refund my dinner)
Elizabeth Dole (NC): will vote no
Richard Burr (NC) : will vote yes
Both are Republicans, guess which one is up for reelection??
http://www.wral.com/news/state/story/3653795/
Senator Dole calls it a knee-jerk reaction..totally agree with her.
Freddie Mac is your pimp and you are his Whore, Feinstein. At least I know that much.
pathetic.
i sent out some thank you emails to the true conservatives…hopefully i didn’t jump the gun.
McCain needs to understand that country first really means the people first.
the argument that we don’t know any better and they are looking out for us is bull dear leaders….let us fail….let us struggle…let us suceed…let us prosper!!
the sky is not falling…SUCK IT UP!
Just A Thought #53:
Didn’t see yours before I posted mine. I’m sorry she thinks I’m stupid and uninformed. And, probably, bitter and clinging to my guns and my Bible. I guess it’s too much to ask her to carry out the will of her constituents…
But Independent Voter #46:
We convinced BOXER? REALLY?
I’m astounded. And, BTW, that’s “live” in CA, not “line.” Sorry.
I wonder how many of these jackasses would be willing to take a vow to leave office if this bailout doesn’t work?
So, to put it in perspective, DiFi says she received 91k votes. 85k of those were against the bailout. I’d say that this is where the rubber meets the road for DiFi, with 93% of those calls being against. If she votes for it, she’ll take a hit politically. Whatever gets her out of Washington, I’m for that.
Uh-oh, looks like Olbermann has a bone to pick with Michelle tonight.
I e-mailed Cornyn, for all the good it’ll do. I sent one to Hutchison the other day and never even got an acknowledgement.
Debate? well that’s a change. too bad the crap sandwich with lard doesn’t get a real debate.
Oh, this is rich, from abcnews.com:
So, when does the phrase, “one with a name that everyone knows” refer to something in broad terms and nothing specific? When Harry Reid says it.
What a total ass that man is.
They think this gives the House cover to pass this but it just puts more pressure on the House.
Dick Morris just nailed it on O’Reilly. McCain missed an opportunity to turn this Presidential race upside down by coming out against this bailout boondoggle and instead support the conservative Republican alternative ideas, like insurance, changes in accounting procedures, etc.
How many of them could pass a mental health test? I mean since they put it in the Bill, and it gets covered anyway why not test a few of them. Oh that’s right they are already all covered.
Wow…it sure seems like there should be something we could do other than phone calls and emails. I feel so helpless and I really feel that we are seeing a conservative uprising and I want to take part.
More homes loans that won’t be repaid.
vickisoup#79
Little Harry didn’t bother to explain why we now need to “finance” insurance companies if one of them is going broke, now did he? Where is this going to end besides sheer gubmint takeover of all insolvent enterprises? The ones left standing will claim to be insolvent just for the infusion of $$’s. They’d be fools not to.
You bet he did. If he votes for this thing, he’s toast. Remember, he’s Mr. No Earmarks. Obama will have a hay day on this 105 Billion add-on.
The far left group of Dems hope that this is a first step toward nationalization of large financial corps.
What are they voting on right now?
McCain has missed opportunities every day…heck, every time Obama opens his mouth, McCain can take back this race with merely showing footage of Obama saying just the opposite only weeks earlier. The only person who loves the news camera more than Bill Clinton is Barack Obama. There are risks to having everything captured on film. Well, there are risks, unless your opponent is John McCain. Then there’s evidently no risk.
Sen. McCain is dead to me. He just said , in the 1st debate, he opposed ALL pork. No doubt, he has not even read this 451 page Boondoggle, BUT HE STILL SUPPORTS IT???!!!???
He NEVER did his homework on the Amnesty Bill either.
He is a liar and a fool.
Aye 74, Nays 24 Guess that’s Amtrak?
There is little chance that ANY of them have read the entire bill – they have staffers for that. What I still do not understand is why no prominent Republican is not stating the truth that this problem was caused by Dem policies and efforts.
Hey, watch your language. He is MY Senator, after all!! /sarc
Sent this to tips and MM – this should be a major post, all by itself – the Senate majority leader spreading fear during a major vote.
That was the Amtrack Bill I believe they just voted on. There were no dissenting votes.
Is there any legal recourse?
States have sued the federal government.
Can we the people try to stop this mess through the courts?
Oops! Sorry, fred5676. I mean, sorry he’s your senator.
Am I the only one thinking McCain is simply not in shape to be running this race? We saw the same behavior when Bush, Sr. ran for second term. There was something preventing him from running a strong campaign. We’ll never know what it was nor the reasons behind it, but McCain’s behavior the past few days makes you question his health, mental or otherwise. He’s throttled Palin and she isn’t coming off well either. Or, sadly, perhaps this is what he is?
On October 1st, 2008 at 8:09 pm, aj4runner said:
McCain’s goal is to defeat the Ultra-Right.
Well it sure as heck isn’t defeating Barack Obama.