Political Punch

Bryon Wolf Wrote how is next Bryon Wolf this is getting sisking Bryon Wolf Following 'round-the-clock weekend negotiations, the federal government late on Sunday agreed to bail out yet another bank, this time giving the troubled Citigroup a $20 billion lifeline in the form of a direct investment and guaranteeing $306 billion worth of its shaky assets, the Wall Street Journal, New York Times, Financial Times, and others lead off their business coverage today.

Bryon Wolf wrote Obma in office means Bryon Wolf all other offices will be empty. Bryon But rest assured you will be able to get a job at your favorit fast food restraunt

Somewhere I heard the definition of "Stupid" : Doing the same thing over and over again and expecting a different result --- does this ring a bell with anyone besides me???

Sheese this Country is in such deep trouble fiancially then why is our government spending money on such foolishness.

I wonder if this "bailout" will pay for my car, bike, etc... Maybe, I should just stay home and collect "bailout" help because my job is too stressful. Or maybe, I just need a "bailout" fully paid vacation. When my credit card company calls asking to be paid should I just say, "bailout"? It's funny that they used the word "bailout", considering that this is criminal. God bless america, I hope He bails us out soon.

While I was reading the Act text and came across this. I was so upset I started looking for more info on the web about who else saw this and was talking about it. I came across this site.

Who put these things in there? How do we bring more visibility into these types of issues and get the message across that this will no longer be acceptable?

It's crazy.

Way to go Jake. This is why I as a lifelong Democrat have left the party and become an Independent. I will never vote PARTY AGAIN. Palin is the only EARNEST politician, she is the maverick of corruption, she exceeds McCain.

Palin 2012

"We should nationalize 50% of the rich people assets. The money that we got should be enough to bailout all homeowners, national debt, and wall street."

Simon I really hope you are Joking with what you just said. If you really believe that,maybe you should move to Venezuela, you will be right at home.

Doesn't anybody remember Ross Perot warning us about the Giant Sucking sound of all your jobs leaving the USA down to Mexico as the Goverment pushed NAFTA (North American Free Trade Agreement). He was right! We soon saw all the manufacturing jobs leave the USA and go to Mexico and overseas. Your Goverment told you that they would replace all those jobs with "Service Sector Jobs". Basically Insurance, Banking and Technology. Then those Companies started Off Shoring all the Jobs to India, China and Asia! When your Goverment complained the companies said they could not find skilled American workers! The Goverment created a H1B Visa program that allowed them to bring in even lower paid workers (slaves,,,work or your deported) to replace even more American workers. When the consumers started to hurt they said " We will give them MORE CREDIT" and America went into debt. When Wall Street and the banks finally recognized they could take no more from America they lobbied Congress to change the Bankruptcy laws and your elected "REPRESENTATIVES" did just that to keep you on the hook paying the MASTERS. Now that they cannot take anymore $$$$$'s from you they ask the GOVERMENT to take it with a 850 BILLION DOLLAR bail out to them!!!! FOOLS.....NO BAIL OUT

Each and every congressman supporting the bailout of legalized crooks should be voted out in November. (Rescue, my a..) They do not represent the people who put them into office. Why don't they add this on the ballot in November and let the American taxpayers vote on it?

They are calling this a rescue but are adding so much stuff to it. This is ridiculous. They need to sit down with economists and other great leaders to figure out a real, long-lasting solution.

We've already given billions to AIG, Fannie/Freddie, etc. and the problems are still there. This will be $700 billion down the tubes.

Call your Congress member, tell them to vote NO.

"The cry from Bush "We gotta pass this quick!!" is how we got into Iraq. Is Congress going to fall for it again?"
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They fell for it on the Patriot Act, didn't they? And except FOR the Patriot Act, more people might be posting.

Ralph Nader is scheduled to be on CNN sometime REALLY early tomorrow morning, around 8 Eastern. Guess we should vote for him, since he's the most powerful third-party candidate, is very knowledgeable in economics and corporate hanky-panky, and -- unlike Obama OR McCain -- has never wavered for decades.

The most infuriating thing about the Congress is Pelosi/Hoyer's saying they won't MEET until they know they can PASS the Bush/Paulson bailout. (PLUS the intentionally-opaque special-interest items/"earmarks.)

The people are entitled to hear the debate, and to know who votes HOW. And, in the case of those who vote FOR the bailout, WHY they dare to vote that way.

When did we start privatizing gains and nationalizing losses. This is ridiculous. Take 1 minute and tell Congress find a real solution and to Vote NO on this

-----Simon's Rescue Plan---

We should nationalize 50% of the rich people assets. The money that we got should be enough to bailout all homeowners, national debt, and wall street.

The rest of the money from the nationalization should be also enough to give every one of the American citizens a nice car as a Christmas gift.

The federal reserve has already pumped a TRILLION DOLLARS into the banking system. Why do we need more?
The cry from Bush "We gotta pass this quick!!" is how we got into Iraq. Is Congress going to fall for it again?
The politicians see a way to rob We The People again. Free money hand outs to thier cronnies.
Is anyone in congress listening???
WE THE PEOPLE DO NOT WANT THIS !!!

Here's the best bailout program around. Pay off everybody's Mortgage, up to 400K. For those that have already paid their mortgage, give them 100K. For those that rent, give them 50K. Now everybody has money to spend and fuel the economy. We can pay it back over 30 years at a flat fee so that they make a 30K profit over the life of the loan...30 years, and prorated for lower years.

How do you like that! I keep getting flagged for trying to put links on here now. I guess ABC doesn't want much of the TRUTH out there.

* The Wool Trust Fund -- Cost: $148 million over ten years

Is that Wool or Bull ?

I suspect that Obama and McCain may have striken a deal, such that they vote on the same page on the $850 Senate revised TARP bail out bill. This bill is so huge and they do not want to take side and risk their popularity. Once again, when a politician personal interest is involved, he/she will not care about the constituents.

I simply cannot believe they voted for this after adding to the sum. As if the origninal proposal wasn't bad enough.
This is BOTH parties at work.

Absolutely ridiculous and infuriating: it seems the Senate can't even vote to ADJOURN without passing some special interest earmark appropriation in the process. Any senator of character should repudiate this bill; the others should apologize to the American people. Heck, that just might BUILD character!

I suspect that Obama and McCain may have striken a deal, that they vote on the same page on the $850 Senate revised TARP bail out bill. This bill is so huge and they do not want to take side and risk their candidacy. Once again, when a politician personal interest is involved, he/she will not care about the constituents.

McCain didn't vote for this bc of the dems. He voted for this to stay in line w/ Bush, support these lobby groups, and the fat cats that's receiving this $. This vote really hurt his campaign. Glenn Beck has been all over all day.

This problem has been coming on for years. Congress was warned many times and need I say. The Dems blocked any form of reform. Even blocked Clinton from it only to be pushed into making it worse. In FACT! Obama worked at a law firm the was suing banks that didn't want to loan money to non credit wothy people. He was the lawyer that represented the law firm in the suits. This is a TRUE FACT that CAN be backed up! You will not see anything about this on CNN,ABC, or any of the elite media channels.

How did Obama, McCain, and Biden vote?

This bill gives up too much of our freedoms and doesn't address how we will get them back from the Treasury. This is the Patriot Act all over again.

John McCain...make them famous. Tell us their names. I'd like to know who proposed these earmarks. Then I'd like to know why my senators voted to support this despite the flood of email/calls to the contrary.

Hate to say it, but McCain HAD to vote for it. After saying we needed it. He had no choice. Otherwise the Dems would have been all over him.

This problem has taken months or longer to develop. But suddenly Bush notes it and it must be fixed immediately and with large sums and unchallenged authority given to a few.
Why wasn't this country's economists given time to study this problem and offer solutions? Than if a bailout was still needed, then ok. There is NO excuse for the pork. Ever.

Welcome to our world. People in Illinois are used to it. It doesn't matter what's right or wrong. It's all about taking care of the people who "paid" to get them there and now you are seeing that paybacks are a b**ch.

"I wonder if this will cost Obama and McCain votes."
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If the mass of the people understand what the Senate VOTED, it should cost them ALL the votes.

If the disaffected all vote for Nader, it'll be a WHOLE new deal.

Think we are screwed now? Wait till next year! Election over, new president, can afford to give a tax break now! Have to pay for this mess!!! Sorry, have to raise some $$. Going to have to raise taxes!!

Well Denny, I can tell you that my abesentee ballot is sitting here unmarked. I've been a decided voter. But this has lended me pause. I don't know if I will vote at this point, for either one.

This administration has been so corrupt. Paulson's power is unprecidented. Now our Congress is complicit.

I wonder if this will cost Obama and McCain votes.

Come to think of it! Maybe that is why Obama thinks we should learn spanish. Invade Mexico next.

I think we should all migrate to Mexico. I think the peso has more value than the dollar now.

What happened to The Maverick? His platform has been to end the earmarks... 'You will know their names!' Yeah right.

Has anyone thought about how much power we are giving to the Treasury? There is nothing in this bill about when this will stop and how we will get our freedoms back.

I guess American taxpayers have to hire a lobbyist to get a tax reduction.
This gov't most certainly isn't representative of the people.

Money? We don't need any stinking money. The government will take care of us!!! Food line forms here-->

What?! McCain and Obama didn't complain about the extra 100 billion in pork added to this bill? How much do want to bet the House will pile on bringing this to an even trillion? Any takers?

Only in America! life is Great! Down't need a wallet. Before long we won't even need pockets. Because we won't have a damn thing to put in them!!!!!!!!!

If this doesn't seem ludicrous to you, then you are part of the problem. This is absolutely a horrible plan (why do they call it a plan? - there is NO plan - just robbery of the American citizens designed to "look" like a bill). We MUST stand up call this what it is - A CRIME.

from nakedcapitalism:
"Herbert Hoover’s Reconstruction Finance Corporation of 1931-32, which made loans to politically connected companies, didn’t do much to alleviate the Great Depression. An equivalent amount of welfare handed out through the “Veterans’ Bonus”, which Hoover opposed, might have boosted consumption and stabilised the economy more quickly."

"Our" Congressional quislings aren't even saying where/how the Treasury is being bestowed. How can ANYbody vote for this crap and not fear tar and feathers should he/she ever dare to return to his/her district?

Could they have been drugged with something through the air vents? Or WHAT?

If your vote is on the Yea side of the ledger, Mr. Representative or Mr. Senator, you will not see another term in office. So says the American taxpayer. You are a thief of the highest magnitude.

It's a darn good thing there isn't REALLY a "terrorist" problem. Just imagine.

* The Wool Trust Fund -- Cost: $148 million over ten years

Extends a provision that reduces import duties on a limited quantity of imported wool fabrics and places duties otherwise collected on the import of certain wool products into the Wool Trust Fund, which promotes the competitiveness of American wool.
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And ... let's guess ... how does the Wool Trust Fund promote "the competitiveness of American wool"? Send a bunch of Brokeback Mountain types around on tours of New Zealand (a place that actually has sheep), and of countries that actually have a textile industry?

As usual another bill the politicians cram in more pork so that Senators/Reps can get their election committees funded by the lobbyists. Look at these amendments that are stuffed in. Usual crap by our paid for politicians.

Congress is greedy and corrupt. Shame on them
we need to clean house in our government. Get rid of all those fat cats.Those people make Millions of dollars a year and I ( we ) have to decide if I (we )should buy my medicine or food.
And I know there are millions of people just like me. We can't do this. Congress is the problem!! Get rid of all them ( they need to be investigated) and put new ones in and if they don't do right kick their butts out and investigate them, fine them.
Make them pay back their wages.
Better yet make all our politicians work for minimum wages

"Only complete morons are still making partisan posts regarding this obvious coup that is being waged against the people of this country by BOTH political parties..."
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Agreed, except that the hijacked former Democrats, who hold the power in Congress, have abandoned every vestige of democratic principle and process.

At this rate, Ralph Nader could WIN -- if there really IS an election.

They're not listening to us! Most of us are saying NO; the economists who understand this stuff are saying NO; yet OUR Government is saying YES to shafting We the People. Taxation without representation. It's time to stop it. They think we're asleep or stupid or both. Let's inundate them with e-mails and phone calls and then throw them out of office. Both candidates are sorry choices. I'm going to hold my nose and vote for the lesser of two evils: McCain. Obama would finish us off with his socialistic agenda - but then that's where we're headed anyway.

-- Yes the bill is full of pork but some of it is bar-b-que and some of it is just pig meat. --

I went through it.. all 451 pages.. and it's unbelievable. Not mentioned in the article are provisions related to mental health and addition, abandoned mine reclamation, wool 'research', enhanced deductions for book donations, permanent authority for disclosure related to terrorist activity, farm equipment depreciation, tax preparation penalties, rural school security and 'self-determination'.. and it goes on.

The first clue should have been when Dubba went on TV not once, but twice, claiming how it was imperative to push this through.

Only complete morons are still making partisan posts regarding this obvious coup that is being waged against the people of this country by BOTH political parties...

AFP:

"Nobel Prize-winning economist Joseph Stiglitz warned the rescue package was unlikely to restore economic stability.

"It's like giving a massive blood transfusion to a person bleeding from an internal hemorrhage," he said during a speech in Austria."

Now I know how the average Roman felt the day Cesear ended the Republic. I'll look at the bright side, I'm living a day that will be remembered for thousands of years.

They know we the public are watching closely yet they pull this?? How stupid do they think we really are--Man do we elect stupid people to represent us---some democracy we practise here folks----

"Vote NO! Tell Congress now."
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Yes, keep telling them ... BUT:
how they're spinning it now is that the "sweeteners" -- the arrows and whatnot, a zillion dollars worth of whatnot from no one knows where -- make ALL the difference, and blablabla.

Meanwhile, Pelosi and Hoyer are quoted as saying the House WON'T meet until they are ready to PASS the bailout.

So much for the idea of a deliberative assembly: the people's House now only meets to PASS illegal crap. Maybe somebody ought to arrest the Speaker.

Until we, the American people take back our country, this is the nonsense we can expect. There in no one protecting us...WE need to take back this country!!!!! I do believe it is time for another Boston Tea Party, however instead of tossing the tea..toss those in office!!! Every politician that is up for reelection...say NO!!! Put someone else in there...as far as the Presidential candidates, do a write in, like Powell. WE as a people should march on Washington, sending a message that we are done with "business as usual" its time to do the unusual...start a revolution of our own!!!!!!!

This "dole-out" bill could be compared to the parents of an alcoholic (Congress) giving their addicted child (Wall St.) a keg, a tap and the keys to a new car (the object(s) of their abuse) using money they raised at the police station fund-raiser (our tax money) and then attempting to bribe us (the police) with gifts (incentives to the bill) so that we'll look the other way...

Loosen up the credit market? What freakin' difference does that make?... Ohhhh..... help people go further into debt while they still have no job security and now pay incresed gas expenses etc... sounds like a freakin' recipe for disaster... How are you helping John Q. Public maintain a liveable income? or a job?

This makes me so ****** off I could scream. I will not vote for any incumbents this year. Also not voting for Obama. He got allot of money from Fannie Mae and Freddie Mack. Plus all his advisors got lots of money. If people do the research they find that this who mess comes from bills that Carter and Clinton signed. Check it out people. Find out the truth before you vote.

Why not cap interest rates on credit cards? Oops, that would be main street not wall street.

thebeardog1st
John Lewis Congressman from Georgia
and the send and e-mail

This "dole-out" bill could be compared to the parents of an alcoholic (Congress) giving their addicted child (Wall St.) a keg, a tap and the keys to a new car (the object(s) of their abuse) using money they raised at the police station fund-raiser (our tax money) and then attempting to bribe us (the police) with gifts (incentives to the bill) so that we'll look the other way...

Loosen up the credit market? What freakin' difference does that make?... Ohhhh..... help people go further into debt while they still have no job security and now pay incresed gas expenses etc... sounds like a freakin' recipe for disaster... How are you helping John Q. Public maintain a liveable income? or a job?

It is clear that any YES vote for this BAILOUT bill by any member of Congress should immediately subject them to no hope of election. This is what I have told each of my Senators (only one was up for re-election), my Congressman (He voted NO the first time), and told McCain who I thought I would vote for. Until these fools clean up the causes of the mess, just handing out money wont solve anything.

Obama and McCain clearly are not leaders and can't lead the way out mess and we need to vote third party, either CONSTITUTION PARTY or LIBERTARIAN PARTY. The Democrats and Republicans are useless except to pick our pockets.

The bailout is now 1,000 pages long. This isn't the correct way to fix this mess. Contact Congress now and tell them to vote no.

Americans need to wake up to facts. My parents did not buy anything they could not pay for. That example has kept me out of financial trouble. All citizens need to look around their homes and see all the stuff they buy. Congress is doing the same thing. Let's start living within our means. Yes we need term limits.

Regarding the nearly half billion this bill would award to the Hollywood studios, I am an elected officer of a Hollywood film local and have worked 35 years on Hollywood film sets.

I ABSOLUTELY OPPOSE THIS GIVEAWAY. This apparently grew out of a similar subsidy awarded in the so-called American Jobs Creation Act of 2004. At that time, a large portion of Hollywood film production was going overseas where producers were lured by tax subsidies. If it had an effect on runaway jobs, we never felt it. Now the Bailout bill seeks to extend this.

The problem is due to the weak dollar, runaways to foreign countries all but ended a couple of years ago. This half billion dollar gift to the studios is to solve a problem that doesn't exist! Not only that, but the studios get half their revenues from overseas so the sinking dollar has been a windfall for them.

This isn't to say Hollywood is still dying, but now it's dying from subsidies offered by over half our states.

Throw ALL of them out .. every last one - this was passed with bipartisanship so let's let them ALL go out together!!

What we need to know is who put each of these in, or whom it will benefit.

Instead of giving that $700 billion to all of these companies and spending it on stupid crap like rum and arrows... why don't they take that $700 billion and divided it equally among all American tax payers? Give THE PEOPLE a chance to recoup OUR LOSSES and at the same time, we're still paying it back at tax time. When do WE THE PEOPLE get to SPEND OUR OWN MONEY? Our radio show talk hosts had it all figured out this morning, lets vote them into the White House instead!!! Their estimate figured each American tax payer would receive $250,000. Make it tax free for 1 or 2 yrs for middle and lower class families, let people spend the money and get our market back up and going on its own. Leave it to the people to decide how to spend OUR MONEY on things WE NEED and want.
I vote Bob and Brian for President!

They are calling this a rescue but are adding so much stuff to it. This is ridiculous. They need to sit down with economists and other great leaders to figure out a real, long-lasting solution.

We've already given billions to AIG, Fannie/Freddie, etc. and the problems are still there. This will be $700 billion down the tubes.

Call your Congress members and tell them to vote NO!

The economy has been dwindling down since eight years ago with only a few favored cronies cornering the good stuff (such as military contractors & oil companies). There can not be a magic "p"ill (bill) that can cure the economic illness miraculously near the end of Bush administration. It will just be the last chance for the cronies to fatten more their pockets.

Marcy Kaptur- I like her! Still looking and researching!

Would tell you who I am looking at for write in but that goes against the censorship on this network!

Does anybody know John Lewis Congressman from Georgia? How do I get hold of him to tell him "Hell No".

Justifying these add on's by saying that "they were already in the books and we are already paying for them" is UNBELIEVABLE. I am a McCain supporter, but am very disappointed. When it comes to our economy, BOTH candidates will be "more of the same". Who the heck can we turn to????

Posted by: Art Texas | Oct 2, 2008 2:06:51 PM
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I supported McCain until he voted FOR this bill. I vowed to not vote for anyone who voted in favor of this bill and I mean to stick to it.

I don't like the 3rd party candidates either.

In other words, I have no idea what I'm going to do in November.

Those 75 Senators sold out the American people yesterday. They are no better than the British crown just prior to the Revolution.

I will vote on NOBODY who wanted this bill. I will write in my own candidate.

I do believe it was the republican house members who couldn't muster the original one. so are they sweetening up the deal for, them?

Posted by: make it known | Oct 2, 2008 12:42:33 PM
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Stop the partisan politics.

There were dozens of Dems who did not vote for the House bill as well.

The bill was defeated through bipartisanship.

Sadly, only 25 people in the Senate were looking out for us.

Even worse, neither Presidential candidate was in the 25.

Believe me, the people who voice out their opposition to the TARP bailout plan in this blog, are honest, hard work average American people who have suffer under the misrule of the Bush administration. They truly represent the voice of America. I am appeal to the representatives of the House to listen carefully to the their voice. This is your last chance to make the nation right. So when you go to bed in the middle of the night, your conscience will not bother you. When you talk to you grand children in the future, you can tell them how proud you standup for your country men.

a majority of the united states senate in session last night did with malice of forethought commited a horrendous act of moral cowardice and in the not too datant future there shall be a monument erected to mark the demise of the republic of the united states of america based on the premise of government of the people, by the people and for the people and each and every name of those in the united states senate who commted this act shall be affixed

Also, this is clearly BOTH parties at work here. If you say the TV/Film was by the dems, then clearly the Motorsports Racetrack Property was by the GOP.
Both parties are at fault for this ridiculousness. I think everyone can agree that this system is broken!

Posted by: In the dark | Oct 2, 2008 12:39:11 PM
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I absolutely agree.

It doesn't help that BOTH Presidential candidates ignored We The People and voted instead for this bill which will probably not have the desired effect.

I love reading all of these people that were republicans yesterday jumpin ship.

McSame, Obummer, and all their colleagues, just pigs at the trough filled up by you and me. Didn't they have a tea party in Boston once to address this ? Time to bring back public flogging of these miscreants.

I'm sure that American Sam