Liveblogging Crap Sandwich 2.0: The House bailout debate; Update: SWALLOWED, 263-171
Scroll down for updates…11:44am Eastern Flip-flop count = 2 3 4 (R’s: Wamp, Biggert, Coble, Barrett) 5 (D: Edwards) 18 (see below for full list as of 12:29pm Eastern)…and make sure you scroll down for Maxine Waters’ remarks bragging about the unprecedented loan modification and mortgage-meddling provisions in this crap sandwich: “We’re in charge!”…exactly how we got into this mess in the first place…We’re Screwed…current YEA count is 223…1:07pm Eastern. Call for recorded vote…1:26pm Eastern…applause on the floor as they secure the votes…263-171…
Here we are again. I hope you’ve been dialing your congressional reps. The gun is at our heads. This is it. The vote is expected at 12:30pm Eastern. (Update: First, the email system crashes. Now, you can’t get through the House phone system: “All circuits are busy.”)
10:45am Eastern. First up on the floor: Race card-hustling corruptocrat Charlie Rangel, who embodies so much of why we are where we are today.
He just said “We have a gun to our head.”
No, we have a gun to our head — and you are going to pull it.
10:50am Eastern. House GOP whip Roy Blunt is heralding all the add-ons and bribes and sugar on top of Crap Sandwich 2.0.
You will eat it and you will not complain!
Blunt’s championing the “transparency” in the bill.
How about being transparent and telling us who requested each of the earmarks piled onto this behemoth?
Let’s have it.
10:56am Eastern. Oh, no. It’s crazy Pete Stark. But he’s saying some sane things. “Is there a crisis? There is, but not for the average American who has been working, paying his bills. No crisis for responsible community banks. There’s a rush to judgment.” Slips in some anti-war ranting. But otherwise, spot out.
11:00am Eastern. GOP Rep. Howard Coble will swallow CS2.0. So will Democrat Rep. Richard Neal and GOP Rep. Dave Camp. And Democrat Rep. John Tanner. Tanner complains about how the Senate handled the package. But he’s going to vote for it, anyway.
GOP Rep. Devin Nunes is my new hero. He says the American people do not accept the threat that there are only two choices: Pass the bill or face a depression. There are other alternatives.
Nunes assails the House for reacting to panic. Why do we need to give $700 billion to one man? If Paulson wants to run a hedge fund, go back to Wall Street? I urge a no vote.
YES! I’m going to try and get his prepared remarks.
Here’s his website and statement. He’s posted this:
A group of Republican lawmakers re-iterated their opposition to the Paulson bailout plan in a letter to Congressional leaders today.
“We hope that you will join us on behalf of the American taxpayer in sending the Treasury Secretary a strong message that his unfair $700 billion bailout plan is a non-starter with the American people,” said the lawmakers.
In place of the $700 billion Wall Street bailout, the lawmakers are seeking reforms that protect the American taxpayer while shoring up our nation’s financial institutions. A core part of the alternative plan would enable the Federal Reserve to spend up to $250 billion using a preferred equity with warrants arrangement. Many provisions of the current package would also be retained, including an increase in FDIC insurance.
11:13am Eastern. Ugh. GOP Rep. Zach Wamp is in full Chicken Little. Announces he’s a flip-flopper, but iit’s an act of patriotism. More cost of doing nothing is worse than doing something rhetoric. “Things are really bad! We don’t have a choice!”
Henny Penny Democrat John Lewis: “We must do something! We must do something!”
Democrat Ron King for the bill: “They’re holding a gun to our head.” But he’s going to help pull it. Praises the transparency.
I repeat: Let’s have transparent naming of who stuffed each and every earmark in the bill.
11:21am Eastern. Democrat Rep. Brad Sherman is on the floor. I can’t possibly describe the problems with this bill in one minute. They’ve added special tax breaks for those who import arrows and rum. This is the pork-laden, earmark-laden Wall Street bill. Will buy toxic assets here and Riyadh and Beijing. It is a bill that provides for an oversight board that critiques but cannot stop anything.
Vote no now and stay here and write a better bill.
RIGHT ON. Let’s see more House Republicans saying this.
Sigh: GOP Rep. Jim McCrery defends tying the bailout to the tax extenders.
Goosey Loosey Democrat Rep. Joe Crowley: “We don’t have time” to deliberate!
11:25am Eastern. Barney Frank is on the floor. He’s going to colloquy with fence-sitters. He’s pushing the foreclosure prevention measures and mortgage meddling provisions.
This is very important, people. As I mentioned in my dissection of the Senate CS2.0:
ection 110 is the Democrat-backed “Assistance to homeowners” plan — driven by one of the bill’s key stated goals of “preserving homeownership.”
GENERAL.—To the extent that the Federal property manager holds, owns, or controls mortgages, mortgage backed securities, and other assets ecured by residential real estate, including multifamily housing, the Federal property manager shall implement a plan that seeks to maximize assistance for homeowners and use its authority to encourage the servicers of the underlying mortgages, and considering net present value to the taxpayer, to take advantage of the HOPE for Homeowners Program under section 257 of the National Housing Act or other available programs to minimize foreclosures.
(2) MODIFICATIONS.—In the case of a residential mortgage loan, modifications made under paragraph (1) may include—
(A) reduction in interest rates;
(B) reduction of loan principal; and
(C) other similar modifications.
Yes, in the quest to “preserve homeownership” at all costs, it appears the government will be determining the value of homes directly in the marketplace — not only reducing interest rates but also loan principal.
Reader Robert calls attention to another micro-meddling section:
SEC. 124. HOPE FOR HOMEOWNERS AMENDMENTS. Section 257 of the National Housing Act (12 U.S.C. 1715z-23) is amended—
(1) in subsection (e)—
(A) in paragraph (1)(B), by inserting before ‘‘a ratio’’ the following: ‘‘, or thereafter is likely to have, due to the terms of the mortgage being reset,’’;
(B) in paragraph (2)(B), by inserting before the period at the end ‘‘(or such higher percentage as the Board determines, in the discretion of the Board)’’;
(C) in paragraph (4)(A)—
(i) in the first sentence, by inserting after ‘‘insured loan’’ the following: ‘‘and
any payments made under this paragraph,’’; and(ii) by adding at the end the following: ‘‘Such actions may include making payments, which shall be accepted as payment in full of all indebtedness under the eligible mortgage, to any holder of an ex6
isting subordinate mortgage, in lieu of any future appreciation payments authorized under subparagraph (B).’’Robert asks: “Is this about renegotiating mortgage rates of existing mortgages? Did I just get screwed for paying a point to lock in 5% fixed rate when my %^&*# neighbor went with no points adjustable rate? How the hell is this fair? I want his new rate and MY POINT BACK!”
11:30am Eastern. GOP Rep. Gresham Barrett plays Cockey Lockey. “We have to act! We have to act now!” He will swallow CS2.0. He’s a flipper.
So will GOP Rep. Tom Cole.
11:33am Eastern. Democrat Rep. Zoe Lofgren is reading Arnold Schwarnegger’s $7 billion loan demand letter.
The sky is falling! The sky is falling!
Lofgren says that California will fall apart unless the bailout passes.
Prediction: If CS2.0 passes, California will still come begging for a bailout.
GOP Rep. Jeb Hensarling opposes the bill. House conservatives have worked hard on alternatives. There are improvements, but I still have many fears. No one knows if this will work. No one knows the true amount of liability. I fear this is more of a bailout than a workout. It rewards bad behavior and punishes the good. How can we have capitalism on the way up and socialism on the way down? If we lose the ability to fail, we will lose the ability to succeed. How can government bail out some and not others? Slippery slope to socialism. I will vote again no. There is a better way.
THANK YOU!
Here’s his full statement:
“I come to the floor with an odd combination of resignation, relief, doubt, hope, and fear. I was surprised when the House version failed on Monday – and I will be even more surprised if the Senate version fails today. Thus, I am resigned. But with that resignation also comes some measure of relief that at least some plan to deal with the national crisis at hand.
“As I and other House conservatives have said from the beginning - inaction is not an option. The crisis on Wall Street is inflicting Main Street, even as we speak. There is panic in our credit markets, which are freezing up. They need calm and they need capital. As much as it pains our principles, most House conservatives conclude that some temporary form of the full faith and credit of the United States is necessary to address the crisis. We understand without action, many of our fellow citizens may find themselves laid off from their jobs, unable to refinance their homes, or perhaps find their credit card limits curtailed as they attempt to buy food or medicine.
“House conservatives worked tirelessly to put forth a number of different plans, ideas and legislation to remedy the crisis. On their behalf, I take great pride in the role that we played and the role our Republican House Leadership played in improving the legislation before us. Thanks to our efforts, there is greater accountability in this legislation. The insurance workout model of Mr. Eric Cantor and Mr. Paul Ryan now has an opportunity to work. Executives of troubled firms seeking money from taxpayers will have their compensation limited. There is greater opportunity for taxpayer upside, mark-to-market rules are now in revision, and FDIC limits have been increased. These are all Republican improvements that we sought to achieve. Not only do I want to thank House conservatives, I want to acknowledge and thank many of my Democrat colleagues with whom we found common ground on a number of these issues and with whom we were able to work in concert.
“Let me now speak to my hopes and fears. No one truly knows if this plan will work. We all hope it does. No one knows the true amount of taxpayer exposure. Treasury could spend $700 billion in no time flat and come right back to Congress for $700 billion more. Some believe the taxpayer will actually make money in the deal and I hope that proves true. But history as my guide, I have strong fears it will not. And at what point do we finally bailout the American taxpayer from the unconscionable burden he or she faces from out of control Washington spending?
“I fear that the legislation before us still remains more of a bailout than a work out. I fear it undermines the ethic of personal responsibility. I fear that it rewards bad behavior and punishes good. But my greatest fear is that it changes the role of the federal government in our free market economy, which despite its current problems, remains the envy of the world. How can we have capitalism on the way up and socialism on the way down? If we lose our ability to fail will we not in turn lose our ability to succeed? If Congress bails out some firms and sectors, how can it say no to others?
“We must be very careful as we address this financial crisis to ensure that any short-term gain does not come at the cost of even greater long-term pain – that being the slippery slope to socialism. The thought of my children growing up in America with less freedom and less opportunity is a long-term pain I cannot bear. Therefore, I will again vote ‘no’ on this legislation. And as I told my colleagues before the last vote, when I cast my ‘no’ vote, I will cast it with some doubt.
“Some conservatives will support this legislation because they feel it is the last opportunity to address the crisis. They may be right. Some conservatives will support this legislation because they view it as the lesser of two evils. They may be right. Principled conservatives may conclude differently than me, and I respect each and every one of them. We have all struggled to do our duty and cast the vote we believe to be right. If by chance this legislation fails, House conservatives stand ready to immediately offer alternatives and negotiate a workable, bipartisan solution. If it passes, we stand ready to help make it work and pray that our hopes are realized and our fears are not.
“Our fight for freedom and opportunity continues.”
Frank snarks that Bush will lead us down the road to socialism.
Well, yeah, he has. It’s no laughing matter, Barney.
11:39am Eastern. GOP Rep. Judy Biggert is on the floor. She voted no on Monday. She says there are still many changes she would like to see. “It’s not the best package…but it can move through in time…the clock is ticking…the time for seeking better options has run out.” She officially announces her flip-flop.
Flip-flop count is now at two: Zach Wamp and Judy Biggert.
Democrat David Scott supports giving Paulson “efficient tools” to purchase toxic assets and prevent foreclosures at all costs. Supports the bill.
Frank adds that he is “working with Paulson” on additional mortgage-meddling authority. These are ongoing negotiations.
We are so screwed.
11:46am Eastern. GOP Rep. Scott Garrett staunchly opposes the bill. So much has been added to get the votes, he notes, it will pass. Garrett warns of ignoring underlying problems. Assails propping up failing enterprises. The social costs are far, far greater than the $700 billion they talk about today.
THANK YOU, Rep. Garrett!
More Chicken Little rhetoric from Democrat Rep. John Dingell, whose automaker constituents are swimming in their $25 billion bailout: “Inaction is not an option!” Dingell again asks Frank, as he did on Monday, if the bill covers auto loans. Yes, it still does. Oh, crikey. Dingell is asking if the Federal Reserve would bailout automakers even more. Frank says yes.
11:51am Eastern. Democrat Rep. Gary Miller: “We can’t do nothing.” He needs to talk to his fellow Calif. Democrat Brad Sherman.
A reader e-mails that the flip-flop count is 3 — Coble’s a flipper, too.
11:54am Eastern. GOP Rep. Chris Shays says the majority of his constituents oppose it, but he’ll support it again. Screw the constituents!
11:58am Eastern. Staunch fiscal conservative GOP Rep. Mike Pence is on the floor. “This we should not do. I urge my colleagues to join me in opposing this bill.”
Thank you, Rep. Pence.
12noon. GOP Rep. Paul Ryan is in full Chicken Little mode. Fear! Fear! This bill will shorten a recession. “Doing nothing is the worst thing we could do!”
Where is my airsickness bag?
Rep. Steve LaTourette had been rumored to be a prospective flipper. No, he’s not! He lambastes the larding up of the bill. Re. the rum earmark: “I guess we have the piratve vote now.” Says shame on the collaborators.
Frank snarks that McCain is one of those people.
Yeah, we know.
GOP Rep. Joe Barton rises against CS2.0. Good. He puts things in perspective: Auto loan rate and LIBOR rates are at what they were a year ago. Fundamentally, we have to address the American economy. “This is not the bill to address the problems…Vote no.”
12:11pm Eastern. Dem Rep. Donna Edwards asks Frank if the $700 billion will be used to prevent foreclosures. Absolutely. Frank says Paulson accepts Frank’s demands.
Oh, crikey.
Edwards is a Democrat flipper.
Flip-flop count: 5.
12:17pm Eastern. I don’t think I’ve ever agreed with Democrat Marcy Kaptur, but I have now: Blasts the rush and says: “Vote for a real deal, not a fast deal.”
GOP Rep. Ginny Brown-Waite still against. Good. “The American people hated this bill at $700 billion. They despise it now at $850 billion.”
12:20pm Eastern. Ron Paul is on the floor blasting more debt, more appropriations, more spending, more credit in the market. That is what caused the problem. Ron Paul is right. There I said it.
12:23pm Eastern. Airsickness bag overflowing. Maxine Waters is touting the mortgage-meddling and loan modification: “We’re in charge!” “We own them now!” “We will provide loan guarantees.”
Current official flip-flop count update (thanks to Andy Roth and Wesley Denton for added names):
Democrats
Shelley Berkley (NV-01)
Emanuel Cleaver (MO-05)
John Lewis (GA-05)
Hilda Solis (CA-32)
Donna Edwards (MD-04)
Jesse Jackson Jr. (IL-02)
Bill Pascrell (NJ-08)
Republican
Gresham Barrett (SC-03)
Howard Coble (NC-06)
Jim Gerlach (PA-06)
Tim Murphy (PA-18)
Jim Ramstad (MN-03)
Ileana Ros-Lehtinen (FL-18)
John Shadegg (AZ-03)
Lee Terry (NE-02)
Patrick Tiberi (OH-12)
Zach Wamp (TN-03)
Judy Biggert (IL-13)
That’s 223 YEA votes.
GOP Rep. Spencer Bachus opposes the bill. I do believe I heard him say he’s voting for it because he doesn’t want to risk a decline towards socialism.
What the…?!?!?
Democrat. Rep. James Clyburn supports. GOP Rep. Chip Pickering comes to the floor. This is his last vote. I came when communism in the Soviet Union collapsed.
He’s going to vote for the free-market system…by voting FOR this monstrosity.
What the…?!?!?!
Dem Majority Leader Steny Hoyer is droning on, citing anecdotal credit crunch stories, drone, drone, drone. He’s citing the Australian PM to justify voting for CS2.0. Blah blah blah. He gets an ovation. Which is surprising to me. I thought he must have lulled everyone to sleep.
12:51pm Eastern. Well, look who’s up. It’s the original Crap Sandwich Swallower himself, John Boehner.
He says he prays to God so he will feel better about his vote. “In God We Trust.” “Because we’re gonna need his help.”
If he just did the right thing, he wouldn’t have to pray to make his soul feel better.
Gad.
12:57pm Eastern. Nancy Pelosi. Ugh. Now, she’s Arnold Schwarzenegger’s best friend. She cites other governors crying “Catastrophe.”
Great. After this bailout passes, as I observed earlier this morning, they’ll all be lining up for more.
Let’s she if she starts snarling like she did on Monday.
1:00pm Eastern. She’s all about the bipartisanship now. Praising Spencer Bachus.
“The party is over.”
No. For every bailout beggar, the party has only just begun.
She exults over the mental health parity add-on.
Speaking of add-ons: GREEN ALERT: MSM Ignores Hidden Carbon Tax Provisions in Paulson’s Bailout 2.0
Pelosi is railing against regulators as the cause of the problem.
The Big Lie: “We hope it will pay for itself, but if it doesn’t, the fees will be there to cover it.”
Heaping load of you-know-what.
She gets an ovation.
1:07pm Eastern. All time for debate has expired.
1:22pm Eastern. There’s an outburst of applause on the floor as the YEA count reaches 222, 223…
1:27pm Eastern. Oh, gross. They swallowed the Crap Sandwich and they’re applauding themselves.
263-171.
I’ll get a roll call vote up when it’s available.
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
- Michelle Malkin » Dear Congress: Put the gun down now
- Webloggin » Why the Senate Should Be Fired for Latest Pork Laden ‘Bailout’
- It’s Boston Tea Party Time Homeowners! « Mcnorman’s Weblog
- The Conservative Revolution » Blog Archive » The House votes on the Wall Street Bailout
- The House Has Spoken | The Daily Conservative
- Sonoran Alliance » The revised bailout bill passed
- We have forgotten. « Scatterin’ O’ the Thoughts
- Bailout Passes 263-171 « Trust, But Verify
- cirefile » Screwed!
- The Other McCain: Bailout passes, 261-171
- silent E speaks - Conservatively Speaking from Western Waukesha County » Toasted Crap Sandwich With Pork…….
- “Son-of-(a)-Bailout” Signed « Gunservatively!
- ridin’ with the king » comrades, welcome to socialism
- Seymour Nuts » Blog Archive » I Feel Like Throwing Up
- Bailout Bill: From Three Pages to 451 « Grand Rants
- Blatant Reality » Blog Archive » Dow Drops Over 450 Points After Passage of Bailout!
- Schwarzenegger To U.S. Congress, Give Me The Money - NOW! | BigMouthFrog
- Kick the Anthill » I don’t want to live
- American Dinosaur
- The New and Improved “New Deal” | shyspeak.net
- Swimming In dangerous Waters II: « Chockblock’s blog
- Bailout or Pulling the Plug? : Defend The West
- Barney Frank & Christopher Dodd “Men With Sphincters Of Steel” | BigMouthFrog
- Bailout Bill to Nowhere: Why we’re still not out of the woods « nn&v
- Bang for Your Buck – Nicholas Fitzgerald
- An Appeal to Reason « The IUSB Vision Weblog
- RED GIRL RISING » Blog Archive » HOUSE PASSES COW PATTY AND TURNCOAT BUSH SIGNS IT
- Michelle Malkin » How ACORN got a piece of the bailout pie
- SansPretense » Thomas Jefferson’s opinion on the financial crisis
- Michelle Malkin » McCain wants to spend $300 billion more to buy up bad mortgages
Comments
You must be logged in to post a comment.
McCain: will crash the country into the side of a mountain
Obama: will do the same, only faster
Let me count the ways…
McCain-Feingold: check
Illegal immigration: check
“Living Constitution” judges: check
Embryonic stem cell research: check
Global warming: check
2nd Amendment: check
Populist views of economics: check
Voted for the $700 billion pork chop: check
Clean Energy Act of 2007: well, McCain was a no-show
Vote for McCain or Obama? Yeah, I think I’ll vote for someone better.
Reparations… paid in full.
In my book Bush’s legacy will always be that he couldn’t make free enterprise or democracy work in America and handed the nation over to the Socialists on a platter that they didn’t even have to work for.
After 9/11/2001 the Iraq war may or may not have been a good idea but it doesn’t matter now, he’s torpedoed his own nation, sinking it to the bottom layer of the muck in the political cesspool.
One of the greatest disappointments of my life has been watching him cut off the hands of democracy, and now cutting the legs of free enterprise out from under America. And knowing I voted for him twice. After eight years, I still don’t know what this guy is about. What a looser!
FUBAR!
Guess I’ll head for the Betty Ford Clinic (if its still open), and commit myself to detox.
A black day for our beloved Republic.
I love Sarah Palin!
Regardless of whether McCain and Palin win or lose, I think that this great conservative lady is the new face of the Republican party.
I’m not sure, but I believe tancredo voted for.
Well here we are, our elected represenatatives voting per their consittuents request. It is time they were put on notice that a “Yea” vote on this bill signals their termination in congress.
Throw the Old Bums Out (TOBO).
Go to DRUDGE and read all the loopholes in that bill.
The IRS can now set us up as bait!
It will make you sicker than you already are!
Time for another BOSTON TEAPARTY gang!
If this was an emergency a clean bill would have been passed. The fact these flippers had to be bought speaks to an astounding volume of really slimy politics.
So much for ethics in government. Every time these bozos meet I lose more freedom, and I am really weary of living my life according to what a northeastern or Calif. liberal dictates.
I supported my President on the war on terror, however, today I think it would have been a lot better if he had secured freedom , before he exported it.
Sorry to bust your bubble but, take a close look, your president has supported terrorists, in his phony “war on terror”, while Bin Laden is scott free.
This is what happens when America elects a rich, spoilt, brat without any acccomplishments. You never read Bush’s past. Google Bush Arbusto Harken and see how Bin Ladens have bailed him out from financial blunders. How would Bush NOT bailout? That is all he knows.
For Bhishma
No bubble here. You sound like a liberal who typicaly wants to micromanage everything. One battle doesn’t equal a war. As Gov Palen and President Reagon said, “There you go again”! Can’t believe you would nitpic on something that if it had happened. Nothig in your life would have changed. Today something has.
What is going on with Coburn? First he jumped in to help McCain win the nomination, and now this.
And Shadegg voted for the bill.
This is funny, considering that America looks set to make a rich, spoilt brat with zero accomplishments President in another month.
…and both times he ran against other rich spoiled brats…
At least Jimmy Carter had Billy and Ms Lillian for comic relief.
Please tell me the bailout has an early retirement plan for Bush.
I’m too sick about this to read all the previous comments, so…. Has anyone said when and where the Revolution begins? I’m not getting any younger!
It looks to me that the only reason why Sarah Palin was put on the ticket was so that McCain could squash any GOP rebellion during the convention. He’s not even consulting his VP pick on his decision to leave Michigan. Palin’s been used.
I no longer think this is a coincidence.
McCain is only in the race to give Obama the Whitehouse pure and simple.
I hope for her political sake she keeps speaking her mind…my respect for her will multiply.
Oh and get this about our “wonderful” bailout…. from the drudge report:
Feel the love.
The above is the drudge link I refer to with respect to the IRS
its on the drudge report for today October 3, 2008.
Since there’s no roll call vote link and I was curious I found my own. I didn’t read all 400+ comments so if this is already posted sorry.
Congress.org
I’m just surprised my Democratic rep voted No both times! Sorry to say both my Republican Senators voted yes.
You know who also uses the tax system as a weapon against his advisaries? Vladimir Putin:
I still say rope a dope!
On October 3rd, 2008 at 8:43 pm, love2rumba said:
Word is that Palin wasn’t on McCain’s final short list of 5 VP choices. (She was on the initial big list and on the first cut list, but not on the final short list). McCain was ready to pick a pro-choice VP. Huckabee’s delegates threatened to walk out of the convention if McCain did so. McCain chose a conservative VP to avoid a mutiny at the convention, which could have cost him the nomination.
McCain showed his true colors with this bill. Instead of fighting it, he the twisted arms of (”lobbied”) several Reps in the House to change their vote.
McCain is a Trojan Horse.
I tried to warn people. On August 12, well before the convention, I said
No Joke: Vet the Presidential Candidates’ Communist Connections
It’s time for those who voted against this bill, the same folks who consistently try to thwart the efforts of the weak Republicans and fascist Democrats (e.g. Duncan Hunter, Ted Poe, Mike Pence, Jim DeMint, etc.) need to break ranks and start a new party. Especially after this, they’d certainly have the support needed to do so from the voters.
For those who are curious:
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
It’s time for those who voted against this bill, the same folks who consistently try to thwart the efforts of the weak Republicans and fascist Democrats (e.g. Duncan Hunter, Ted Poe, Mike Pence, Jim DeMint, etc.) need to break ranks and start a new party. Especially after this, they’d certainly have the support needed to do so from the voters.
For those who are curious:
How the Senate voted Wednesday on the financial bailout bill (S. Amdt. 5685 to H.R. 1424).
Off-topic, but related in the sense that our only hope may be to get John McCain to step down from the Republican nomination…
I would like someone to force John McCain to answer the following qustion:
McCain previously said the relationship was not “romantic”.
(Neither was Elliot Spitzer’s relationship with “Kristin”).
McCain gave a Bill Clinton nuanced answer. And just as Bill was eventually forced to admit that his relationship with Monica was “not appropriate”, McCain might be forced to admit that his relationship with Vicki was “not appropriate”.
Someone please make him answer that direct question.
I also believe that Sue Myrick voted for this monstrosity. She tried to explain that vote on Fox News by claiming that small business owners who she had known for over 30 years had come to her or called her letting her know that their businesses wouldn’t survive without access to credit.
Cross another one off the list I guess.
Wow, I heard there is also a provision in the bill that cancels Christmas and sentences the Easter Bunny to Death…I mean from the way you people on this board are talking that would seem to be the case!
People calm down, take a deep breath. This is not the end of the world hopefully the bill will help our economy and send us down a good path for our future. I’m sure as heck hoping for that!!!! Although I don’t agree with this bill in its entirety, I don’t want it to fail, because then, we’re truly going to have to eat a crap sandwich.
It’s time to suck it up and move on. The bill is passed, the gnashing of teeth and flailing about sure won’t change it!
No you are wrong, the gnashing of teeth must be kept up so when these idiots are next up for election, we remember and move them on to new adventures.
On October 3rd, 2008 at 9:59 pm, Mr. Lietuva said:
It’s time to suck it up, then suck it up some more, and more, and more, and more. This isn’t the end. This bill did NOTHING to fix the root cause problems, and the ink wasn’t even dry before they started looking for more.
It was a manufactured crisis, and what’s to stop them from creating more of them between now and November 4?
Absolutely nothing.
From News.com
They threw away incentive for troubled homeowners to even try.
Sounds like I missed a bunch of icky things going on today while at work. Can I just go ahead and call it a poop sandwich?
Just heard a statement by President Bill Clinton that it was the Democrats that consistently threw up road blocks to the Republican efforts to reign in Fannie and Freddie while he was in office. Kind of blows Nancy Ps’ statement that it is all Bush and McCains fault out of the water.
Send_Me said:
I agree.
If they keep what I know to be their common philosophy,clearly communicated, this could work. They on the other hand have to have the willingness to do this as a long-term effort, not a flash-in-the pan effort like that of Ross Perot with respect to the 1992 presidential election (and avoid the Liberal Democrat infiltration Perot’s organization had in Washington State, for example). Otherwise it will come off as esoteric and financially unsupported as say the Constitution Party or Libertarians, etc.
For bailout on Wall Street
Twas the night before Christmas, when all through the house
Not a creature was stirring, not even a Pol louse;
The stocks and the bonds were hung by the market with care,
In hopes that St. Paulson soon would be there;
The brokers were nestled all snug in their beds,
While visions of dollar signs danced in their heads;
And Pelosi in her ‘kerchief, and Reid in his cap,
Had just settled down for a long winter’s treasonist’s nap,
When out on the lawn there arose such a horrible clatter,
They sprang from their beds to see, all that was the matter.
Away to their window they flew in a flash,
Tore open the shutters and threw up the sash.
The moon on the faces shown bright of the new quid pro quo
Gave the lustre of mid-day, to tar, feathers and rails down below,
When, what to their wondering mortified eyes should appear,
But a large contingent, completely without fear,
Brought by a great many drivers, so lively and quick,
they knew in a moment, it must be time to get sick.
More rapid than bald eagles and their coursers they came,
they whistled, and shouted, and called them by name;
“How Now, Nancy! now, Harry! now, Barney and Chris!
On there, Maxine! on Hank! On you Dems and you GOP too!
“The people” they lept to the top of the porch! To the top of the wall!
Now slather away! feather away! Ride the rail all!”
The rebels like dry leaves, that before the wild hurricane fly,
When they meet traitors and thus mount to the sky,
So up to the house doors the coursers they flew,
With buckets of tar full, and feathers, the numbers of Patriots grew.
And then, in a twinkling, a new government, by the house was born
The crowd and the night secured socialist nonimportation
Angry American citizens show’d not a flick’r of fear
and gave proof, through the night, our flag was still there.
Before the vote, I put in an order for my McCain/Palin yard signs (with the intent that I’d cover up the top half of the sign). I also think if she were the top of the ticket, she’d win in a landslide.
I love her, but I can’t afford to vote for her “by chance.” I’m going with Chuck Baldwin, Constitution Party.
Thanks for the vote link. It was killing me, wondering how my guy voted. Lucky for him, it was “No.” Don’t know what I’d have done if it was otherwise.
Strategizing the way to vote this year takes a person of Rovian intellect.
On the one hand, if you vote against your GOP Sen/Rep who voted for this, you hand the election to Dhims and give Obamessiah free rein to do whatever he wants.
If you vote for your GOP candidate no matter what, you’re rewarding bad judgement.
Until the GOP was STUPID enough to fall into Bela Pelosi’s idiotic plan to “share the blame,” I thought we’d get a GOP landslide in both houses since people are afraid of The One having too much power. Now, I don’t know.
And, Cowgirl, some of the Dems who voted no for this were interviewed as to why — they said it didn’t go FAR enough. They wanted even more handouts. So I wouldn’t look on their vote as anything bright and shiny in a sea of slime. They’re still the slime.
I truly believe that McCain is deliberately trying to lose at this juncture.
Why? I am not certain.
He should have run as Obama’s VP….much more fitting.
I cannot stand McCain and do not know if I can vote for him.
I think I’ll just write in PALIN and then I will be able to live with my conscience.
We are doomed UNLESS we take action, NOW.
Still waiting for the roll call. . .
The liberal Congress passed their miserable Failout bill with the willing assistance of the liberal media, Moveon.org, MediaMatters, and the stock market continues to TANK as everyone realizes America gets to pay for the Trillion Dollar mess the liberals all colluded to create.
Just craptastic!
On October 4th, 2008 at 5:05 am, gayle said:
On October 4th, 2008 at 12:19 am, Mach1Duck said:
In my opinion, it appears that:
* McCain is a ChiCom.
* The Clintons are ChiComs
* Obama is a RusCom
Hence:
* The ChiCom/RusCom war between Clinton and Obama for control of the Democrat[ic Socialist] Party
* The Clintons (ChiCom) supporting McCain (ChiCom) over Obama (RusCom)
* McCain, Clinton, and Obama all voting in favor of this failout bill because it is in the interest of all Democratic Socialist Communists, whether they are ChiComs or RusComs.
So, I don’t think McCain is trying to throw the election to Obama, but I a ChiCom President (McCain) is only marginally better than a RusCom President (Obama).
I don’t want any Communist for President.
But, at this point, how do we elect an anti-Communist?
I would vote third party if and only if:
1) They are on the ballot everywhere (every state, every precint)
2) I believed that enough people were going to vote for that party to actually win and not just create a repeat of the 1992 election.
At this point, I believe our best option is to find a way to rescind the Republican nomination from John McCain. If we can pair Palin with a strong candidate who was against this bailout (like Mike Huckabee, Ron Paul, or Duncan Hunter), I think we’d win in a landslide.
Here ’s a quick look into the 3 former Fannie Mae executives who brought down Wall Street and where they are now.
Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae . Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae’s accounting activities. At the time of his departure The Wall Street Journal noted, ” Raines, who long defended the company’s accounting despite mounting evidence that it wasn’t proper, issued a statement late Tuesday conceding that “mistakes were made” and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company’s books ran afoul of generally accepted accounting principles for four years.” Fannie Mae had to reduce its surplus by $9 billion.
Raines left with a “golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/ The Government noted, “The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner.” These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.
Tim Howard - Was the Chief Financial Officer of Fannie Mae. Howard “was a strong internal proponent of using accounting strategies that would ensure a “stable pattern of earnings” at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, “Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,”
On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant’s income statement to achieve management pay bonuses. Investigations by federal regulators and the company’s board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.
Tim Howard’s Golden Parachute to soften his landing from leaving Fannie Mae was estimated at $20 Million!
Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight’s May 2006 report on mismanagement and corruption inside Fannie Mae, and you’ll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.” Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.
Johnson’s Golden Parachute was estimated at $28 Million.
As importantly–
WHERE ARE THEY NOW?
FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor
TIM HOWARD? Howard is also a Chief Economic Advisor to Obama
JIM JOHNSON? Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee
To all the “useful idiots” who let FEAR convince them that voting in favor of the “failout” was better than doing nothing…
You bought the lie. The lie that if you did nothing the economy would go into a Great Depression. So you voted in favor of this 400 page monstrosity, filled with not just huge amounts of pork but also with significant power shifts to the IRS and Secretary of the Treasury.
You have no idea how much damage will be done, for which you just signed us up. Do you think those 400 pages were written this week? No. They constitute a Democratic Socialist “wish list” that they’ve had written for quite some time and were looking for the right opportunity to sneak them into a “must pass” bill. You probably didn’t even read half of the bill for which you just voted.
As many of us said before the bill was passed, this is neither the solution to the problem nor the end of the Democratic Socialist power grab and gravy train. By your appeasement, you only made them stronger. You are the Neville Chamberlains of our time.
And the ink wasn’t even dry on this bill before they were already saying:
interesting that you chose to picture me than respond to my point. Denial hasn’t got anyone anywhere. Acknowledging the reality may lead to something better, but then you already know that.
As for me, am a responsible, tax-paying professional, who unlike most voters, is not blinded by the party-prism.
I got a response to my letter to John Tierney thanking him for his nay vote the first time. However, his response was an excuse for why he flipped on the senate bill; I’m in disbelief! -
NOTHING, ZERO, NADA mentioned about the excesses, lack of oversight, criminal misconduct, campaign contribution crony connections concerning the GSE’s and the CRA initiatives that actually CAUSED this mess - THEY WANT THE PUBLIC TO BLAME WALL STREET TO INTENTIONLLY CRASH IT AND PUT OBAMA IN POWER! It’s on it’s way thanks to your vote Mr. Tierney. The market responded favorably to news that the bill would not pass and negatively to the news that it might - and then even more negatively that it DID. Such will be direction this Monday at opening bell and everyone can kiss their pensions and 401K’s GOODBYE!
I used to love reading about politics, but this whole situation and the way these last few GOP holdouts have flipped for whatever reason has me thinking otherwise. I am now left disgusted!
McCain supporting this pork laden bill…that’s pretty much the end of his campaign as far as i’m concerned, Sarah Palin or not. And that’s a shame. He may have just cost himself a lot of his base support. Republicans aren’t fighting for us…why should we vote for them?
confused and disallusioned…
Michelle, I agree. McCain is tanking, and I’d dare say 99.9% of conservatives don’t/didn’t want him anyway. He’s shown us what he thinks of us time and again, PLUS, he voted for the failout. It’s time for payback.
Is there anything we can do?
Do you know if the Libertarians or Constitution Party is on all ballots? What would be the legal ramifications of enough write-ins to swing an election? (Not that I entertain notions of this happening, though.)
I’m about ready to write in Ronaldus Magnus.
Rush was SO disappointing yesterday. He kept ticking off all the horrendous things the libs have been getting away with and the rotten ways they’re corrupting the country and just laughed — as if there’s nothing anyone can do. I know he’s not there to run the country, but anyone with a voice who considers themselves a patriot could offer some sort of suggestion — it’s not as if he’s tight with McCain.
But did he also mention anything about Bush or Paulson or McCain or other republican top leader as even they pushed/started this bailout package. Sometimes Rush seems more like a just a party spokesman than real conservative person fighting for good.
My U.S. Representative voted NO.
http://burgess.house.gov/News/DocumentSingle.aspx?DocumentID=104354
Cornyn and Hutchinson voted YES and Cornyn is up for re election. I am an Independent Voter, guess who I will vote for?
Cornyn faces re-election in 2008. He is considered politically vulnerable because he was elected with less than 55 percent of the vote in a Republican year. His Democratic opponent is Rick Noriega of Houston, a member of the Texas House of Representatives, lieutenant colonel in the United States Army, and decorated Afghanistan War Veteran.
Both McCain and Bush were liars for voting for and signing this bill.
McCain claimed to be a reformer who will fight against earmarks. Liar. Can’t say that with any credibility after supporting this bill.
Bush promised in his 2008 State of the Union Address:
Did this bill “cut the number and cost of earmarks in half”? No.
Did Bush sign it? Yes.
Did Bush keep his word? No.
Speaking of liars, how’s the border fence coming along?
The GOP needs your help this year.
With the liberal media working overtime to con America, with the liberal Congress playing politics with Americas economy, with groups like ACORN working to counter the votes cast by American citizens the GOP finds itself surrounded on all sides as democrats begin to finally socialize America.
There are a lot of decent people that visit this site, and most are none too happy with the way things are going. We crab consistently as we feel we have the t to do. Now is the chance to make a real difference instead of spitting into the wind!
Sign up at your local GOP headquarters to volunteer a bit of your time. This is not a full time position, no one expects you to be happy with everything the GOP is/has done [I'm certainly not], but if you become one of the cut-and-run republicans then you will make the socialist democrats very happy. In other words, stay home and you will put a big smile on ACORN’s/Obama’s face. Do you really want to do that, or would you rather stick it to them?
Sign up at your local GOP headquarters ASAP. I did so last Thursday [before Sarah strutted her stuff] right after a 9 hour work day.
Remember the phrase, “Doing the work that Americans refuse to do”? Are you going to leave all of the hard work for this real American to do? :oP
P.S.: For any who refuse to stand up and be counted, and wish to give your excuses for staying home on your well rounded derrieres, I have an answer ready for you. The liberal socialists love you, and Barney Frank sends you a great big kiss.
Good point, DannoJyd. I plan to do the same.
Thats correct. Tancredo voted Yes on both Monday and Friday. Just like immigration (remember the state of his Overdue bill…?), he can only talk and not walk the walk on conservative issues.
Myrick, NC…..voted for this dang bill.
I have written her but it’s too late.
I think ALMOST every single congressional person should be imprisoned. I’d like a public hanging personally.
Reposting for the convenience of people looking for the roll call vote:
For all of you out there utterly disgusted with Congress and both parties look here http://constitutionparty.com/.
And then take a look here http://constitutionparty.com/party_platform.php#Bring%20Government%20Back%20Home, http://constitutionparty.com/party_platform.php#Congressional%20Reform and http://constitutionparty.com/party_platform.php#Energy just to start.
Both parties are utterly corrupt. The few good and decent members of the main parties will have to deal with their own consciences when it comes to deciding what to do. But, I have given up on the GOP. Conservatives are not welcome there. It is time to find a new home and as a Conservative Christian the Constitution Party looks like it provides a suitable new home.
The Republicans who voted Yes to this failout were conned and walked right into a trap…
October 1st was Energy Freedom Day. The Republicans should have been focused on that, not this manufactured crisis. They abandoned a winning issue (energy independence) and clung to a losing issue (the failout package).
Stupid, stupid, stupid.
It gets worse:
I can’t stand Schumer.
And I can’t stand that President Bush fell for this con job, and pressured Republicans to go along with it.
Snatching defeat from the jaws of victory…
Alec Baldwin (correctly) blaming Barney Frank and the democrats for the current crisis??? Who got him to think reasonably straight?
http://www.breitbart.tv/?p=188303
Schwarzeneggar already has his hands out waiting for his cut…I’m wondering if the other 49 will follow suit.The IRS is becoming the new Secret Police…perhaps to guard and moniter a “virtual iron cutain” on American taxpayer’s bankbooks to make sure the bailout funding keeps coming?
Just in case you wanted to see how your Representative voted on this bill.
Yeah, cuz we all know how smart ol’ “W” is…right?
I’ve said it before and I’ll say it again…
Bush has a good heart, but he is gullible. He trusts people who shouldn’t be trusted. Top of the list is Secretary Paulson.
George Soros turned the thumbscrews on the credit market, SOX mark-to-market made the MBS “worthless”, Paulson tells President Bush what should be done, and Bush believed him.
Paulson is bad news. Bush should fire him.
It’s ironic that in a time when the nations of Europe are moving to the right the United States has taken a sharp turn to the left, although the conditions in this country are typical. When a nations economy finds itself in serious trouble the first to slither under the door and exploit the economic downturn are the Marxists, socialists and communists. For us, that is Obama and his Marxist/socialist cadre of cultish defenders and supporters. Steel up people and resist the leftist rhetoric, lest you yield to a fate much worse than a diminished portfolio.