Political Punch

Our House of Representatives listened to over 200 of America’s top economists and smart people of this country. They did what was right not what was fast and convenient and prosperous to the very rich. The fact that the House of Representatives rejected the bail out is awesome! Here is why. The bill was a just a band-aid that still benefitted the very rich and not the people. It was not a solution to the cause of the problem. This bill would only have postponed the inevitable to just after the next President is sworn in on Jan. 29, 2009. There are real solutions to the cause of the problems of the credit crises not even considered in this terrible fast paced 700 Billion dollar extortion bail out bill for the extremely rich people of this country and around the world.

In January 2009 the 7 trillion dollars in bad mortgage loans that the banks have reported will still be unpaid. Who knows how many trillion dollars of bad mortgage debt have not been reported by the banks. 700 billion dollars won’t even come close to paying for all of this debt. Financial melt down is inevitable. Let it happen now so true recovery can begin. Bush and his Cronies did their best to ram this 700 billion dollar pay off to the rich for making this mess down our throats.

Here is some interesting info. Bush and Chaney have recently purchased homes in foreign counties to for a speedy get away to live in after their terms are over in Jan. 2009. They didn’t want this economy to blow up on them while they were still in office. They didn’t want the blame for their very real immoral, unethical and most likely illegal actions. Yeah they got both.

One last fleecing of the American people was halted by our smart members of the House of Representatives who listened to the people and over 200 of America’s top economists. We can truly thank them for listening to us.

It’s time for millions of people to march on Washington DC peacefully in protest. The puppets of congress of the extremely rich are going attempt to pass this fraudulent bill again. “The only thing to fear is fear itself.” (President Franklin D. Roosevelt Democrat) Make the members of the House of Representatives and the members of the Senate know they were hired by all of us who voted for them not just a few very rich people. Make them know we are their bosses not a few rich families. We the People: Demand REAL SOLUTIONS FOR ALL PEOPLE not for just a very few extremely rich people!

Newsweek confirms the story:

Freddie Mac had previously paid an advocacy group run by Davis, called the Homeownership Alliance, $30,000 a month until the end 2005, when that group was dissolved. That relationship was the subject of a New York Times story Monday, which drew angry denunciations from the McCain campaign. McCain and his aides have vehemently objected to suggestions that Davis has ties to Freddie Mac-an especially sensitive issue given that the Republican presidential candidate has blamed "the lobbyists, politicians and bureaucrats" for the mortgage crisis that recently prompted the Bush administration to take over both Freddie Mac and its companion, Fannie Mae, and put it under federal conservatorship.

But neither the Times story -- nor the McCain campaign -- revealed that Davis's firm, the Washington, D.C. based lobbying firm Davis Manafort, continued to receive $15,000 a month from Freddie Mac until last month-long after the Homeownership Alliance had been terminated. The two sources, who requested anonymity discussing sensitive information, told Newsweek that Davis himself approached Freddie Mac in 2006 and asked for a new consulting arrangement that would allow his firm to continue to be paid. The arrangement was approved by Hollis McLoughlin, Freddie Mac's vice president for external relations, because "he [Davis] was John McCain's campaign manager and it was felt you couldn't say no," said one of the sources. [McLoughlin did not return phone calls].

One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCain's campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement. The disclosure contradicts a statement Sunday night by Mr. McCain that the campaign manager, Rick Davis, had no involvement with the company for the last several years. Mr. Davis's firm received the payments from the company, Freddie Mac, until it was taken over by the government this month along with Fannie Mae, the other big mortgage lender whose deteriorating finances helped precipitate the cascading problems on Wall Street, the people said...

...On Sunday, in an interview with CNBC and The New York Times, Mr. McCain responded to a question about Mr. Davis's role in the advocacy group through 2005 by saying that his campaign manager "has had nothing to do with it since, and I'll be glad to have his record examined by anybody who wants to look at it."

1.1 trillion today, how much more tomorrow? Enough talk about recession, the general public may now become concerned about depression. I am sickened by this vote. Should the dow get slammed tomorrow, which it probably will, all those opposed or contributing to the veto of this bill should be RUN OUT of office. Pelosi, Paul Brown (Georgia), Eric Cantor (Virginia), et al. Shame on you! In my mind you should all bow out and be replaced by politicians who represent their constituents. I'm a dem in cali. Pelosi, i will not vote for you when you come up for re-election. All the repubs who didn't step it up, shame on you too. I hope the public can see ALL those who voted against the best interests of the country today. OUR politicians should be trying to establish and maintain the solvency of this economy. Unbelievable!!!!!!!

Dave in lv

The democrats stepped up: FACTS ARE FACTS..

Democrats voted for 141 voted against 94

Republicam vote for 66 voted against 132

Can anyone honestly look at Pelosi's speech and say it was a request for bipartisan support for this bill?

Knowing she only had 60% of her own Dems supporting the bill did Pelosi do ANYTHING to ENCOURAGE Reps to support this bill?

No and no.

Pelosi is like the scorpion trying to cross the river. She can't help herself.

President Bush is the greatest president in the universe. Miss Pelosi is the evil one.

The Banks of the United States have reported 7 Trillion Dollars in bad mortgage debt. Let me ask all you geniuses out there what good is it going to do to have the tax payers buy 700 Billion Dollars of this 7 Trillion Dollar debt. Who knows how much more debt the banks and financial institutions have not been reported. Spending this 700 Billion Dollars on this debt is like throwing kerosene, dynamite and gasoline on a wild fire storm. It only makes the fire hotter and more dangerous and destroys those who fueled the fire just like giving the extremely rich this 700 billion dollars. The tax payers debt, the nation debt will just go up and prolong the tax payers suffering, starving, and wreak havoc on their physical, mental and financial health.

The Banks of the United States have reported 7 Trillion Dollars in bad mortgage debt. Let me ask all you geniuses out there what good is it going to do to have the tax payers buy 700 Billion Dollars of this 7 Trillion Dollar debt. Who knows how much more debt the banks and financial institutions have not been reported. Spending this 700 Billion Dollars on this debt is like throwing kerosene, dynamite and gasoline on a wild fire storm. It only makes the fire hotter and more dangerous and destroys those who fueled the fire just like giving the extremely rich this 700 billion dollars. The tax payers debt, the nation debt will just go up and prolong the tax payers suffering, starving, and wreak havoc on their physical, mental and financial health.

"Teddy Roosevelt helped create the estate tax (death tax as dopes call it) but McCain opposes it--so is McCain is stupid or just a liar."

Both.

Concerned in OH,

"I don't think 60% qualifies as "most"."

Well the I'd love to spilt a hundred dollars with you! Ill take $60 you take $40 becuase you know Im not getting most of the money am I ?

No wonder your voting for McCain...Your stupid!

Again, today McCain says he's a Teddy Roosevelt Republican.

Teddy Roosevelt helped create the estate tax (death tax as dopes call it) but McCain opposes it--so is McCain is stupid or just a liar.

It shows Republicans don't understand the implications of a financial collapse. The GOP will suffer for this, not the Dems.

It's the duty for politicians to have courage to vote what is best in their interest.

No, I don't have respect for those who voted against it, on both sided.
We should be outraged to those who voted against it. We should send them an e-mail, call their office, send them letters.

TJ, THE CLINTONITE

"WE HAVE A CHOICE BETWEEN A WELFARE KING OBAMA"

Have you read there policies ?

Obama tax breaks for the midle class and all his Tax plans cost $3 trillion
95% of which goes to middle class Americans!

John McCains "WELFARE" Costs $5.4 trillion of which 74% goes to those earing over $250,000 the rest to companies and just 12% to be split the other 95% of Americans (The middle class)

Get some facts before you shoot off!

"Nancy Pelosi may have given a partisan speech, but she was able to get most of her Democrats on board."

I don't think 60% qualifies as "most".

Until I stop seeing CEOs being rewarded with million dollar "salaries" I will not support ANY type of Wall Street bailout! These CEOs are being rewarded for screwing Main Street!! Hello?? Has ANYONE heard of "cause and effect"?

I can't stop crying. All that I have worked so hard for has been totally wiped out almost, and the ones who voted the bill down are still multi-millionaires and up. Someone please tell me where is the justice in this?

When will Sarah Palin release her tax returns?

McCain and his campaign believe he ought to have gotten credit for the passage of the rescue plan.

McCain, today:
I put my campaign on hold for a couple days last week to fight for a rescue plan that put you and your economic security first. I fought for a plan that protected taxpayers, homeowners, consumers and small business owners.

I went to Washington last week to make sure that the taxpayers of Ohio and across this great country were not left footing the bill for mistakes made on Wall Street and in Washington.

Some people have criticized my decision, but I will never, ever be a president who sits on the sidelines when this country faces a crisis. Some of you may have noticed, but it's not my style to simply "phone it in."

Steve Schmidt, McCain's chief strategist, on Meet the Press:
"What Senator McCain was able to do was to help bring all of the parties to the table, including the House Republicans, whose votes were needed to pass this"

So if McCain wanted credit for passage, shouldn't he share the blame for its defeat?

Two thirds of half Republicans voted for its defeat, a,d that after a weekend of telephone call diplomacy from McCain.

Nancy Pelosi may have given a partisan speech, but she was able to get most of her Democrats on board.