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Cheney Cancels Trip For Bailout Package
September 26, 2008 10:54 AM
ABC News' Jennifer Duck Reports: Vice President Cheney is cancelling his weekend plans to attend two fundraisers in New Mexico and Wyoming to deal with the financial rescue package still being contentiously debated on Capitol Hill.
"Due to the current situation in the U.S. capital markets, the Vice President has decided to cancel his previously scheduled trips to New Mexico and Wyoming so he can assist with the pending legislation on Capitol Hill," Vice President Cheney's spokeswoman Megan Mitchell said today.
Another reason to stay close by, if a deal is struck on Capitol Hill and a tie-breaking vote is needed in Congress Vice President Cheney will need to be in Washington, D.C. to break it.
The Vice President was with both presidential candidates, congressional leaders and President Bush in the Cabinet Room of the White House Thursday and spent Tuesday afternoon on Capitol Hill trying to persuade members to agree on a $700 billion bailout package. He also spoke to Rep. Joe Barton (R-TX)on Wednesday, who raise concerns with Cheney about the package.
President Bush made a last-minute statement to reporters this morning admitting, "Our proposal is a big proposal. And the reason it's big and substantial is because we've got a big problem."
He urged members to move quickly. "There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done. The legislative process is sometimes not very pretty. But we are going to get a package passed, " Bush said.
September 26, 2008 | Permalink | User Comments (14)
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Chaney is comming, everyone run for cover!!!
Posted by: Mike | Sep 26, 2008 11:10:07 AM
WOW let him earn hios keep for once He was going on our nickle to geall he can in before Jan,I voted for Bush because of this jerk he has done nothing but make money on us litle guys ....
Posted by: indp voter | Sep 26, 2008 11:13:05 AM
“This is a Presidential campaign, however - you check your morality at the door.”
It is Obama and the Democratic Party along with Bush, Paulson, Cox, etc., who are the ones who have checked their morality at the door.
Is the public aware that part of the bailout is to fund Foreign Banks who employ US employees? I suggest those US employees find another job.
Is the mainstream public aware that ACORN is to be a recipient of funds from the bailout? Of course not, let’s keep the public out of the loop.
McCain has more guts than you, Obama, the Dems and those others who want to actually sell America short and have the public digging into their pockets for these short-sighted losers.
McCain in 2006, as many are now aware but which he isn’t given credit, tried to avert this financial debacle when he introduced legislation to rein in Fannie and Freddie, but as usual those who have lined their pockets with Fannie and Freddie cash, i. e., Obama, Dodd, Frank, etc., opposed it.
The Democrats don’t need the Republicans’ vote to pass the Bailout, since they’re in the majority. The only reason those wimps want Republican consensus is because Pelosi said the Democrats don’t want to be the only ones with their fingerprints on this Bailout. And Bush is eager to sign it.
Now, because McCain has suspended his campaign and is trying to hammer out a deal that would be amenable to the public as well as the financial sector, he’s getting trashed.
I think Obama was foolish for not wanting to go back to Washington, because if I were a candidate for POTUS, and if elected I would possibly inherit a financial mess, I would want to have some input into what I would have fall into my lap in January.
As far as Obama and leadership, the only thing he’s managed is his campaign, which is just an extension of his days as a get-out-the-vote community activist.
Posted by: HP Boston | Sep 26, 2008 11:13:29 AM
Cheney will be there. Obama won\'t.
That speak volumes about the shallow one! Fiddling while Rome burns. (Again)
Posted by: dl | Sep 26, 2008 11:13:38 AM
SUN TIMES UNCOVERS ANOTHER OBAMA MESS IN CHICAGO!
Read all about it ...
http://www.americanthinker.com/blog/2008/09/chicago_sun_times_continues_to.html
Posted by: Xtra, Xtra - read all about it! | Sep 26, 2008 11:31:43 AM
Ah, the Brain Stem aka Cheney is coming. He doesn't have a shotgun does he ?
Ex Republican
Posted by: RGeier | Sep 26, 2008 11:38:22 AM
But not any pork, the Democrats have actually earmarked the bill with 100 million dollars for left wing organizers left-wing housing entitlement mobsters and heavily tax-subsidized fraudsters at ACORN. As some of you may already know, ACORN is already under federal investigation for election FRAUD and other unwholesome acts.
When you read the Democrat earmark, specifically Section 5 of the Chris Dodd counter-proposal to the Paulson Plan, a large portion of any repayment of the $700 billion would go to the ‘uber community organizers’ of ACORN, with a smaller allocation to debt repayment. It specifically promises a minimum 20% of the ‘profits’ from the Treasury’s sale of assets to The Housing Trust Fund and the Capital Magnet Fund. (CLICK HERE TO READ THIS SECTION OF THE BAILOUT)
Posted by: HP Boston | Sep 26, 2008 11:39:22 AM
Top Five Fannie Mae and Freddie Mac Campaign Contribution Recipients:
Ken Dodd
John Kerry
Barack Obama
Hillary Clinton
Paul Kanjorski
Posted by: curious indep | Sep 26, 2008 11:41:16 AM
Sarah Palin is shooting at their elephant- now John McCain is running around throwing Hail Marys on his way down, saying bringing her onboard was a big mistake. No wonder they won't let her speak to the media- " Putin is flying around over Alaska." I don't look to see much of Sarah Palin unscripted ever again. Yes, somewhere in Alaska there's a village missing an idiot.
Posted by: The American Electorate | Sep 26, 2008 11:49:12 AM
WHO?
Posted by: GIGI | Sep 26, 2008 11:53:48 AM
WHO?
Posted by: GIGI | Sep 26, 2008 11:55:58 AM
SUBJECT: JOHN MCCAIN”S 2005 HOUSING REGULATORY REFORM ACT
Federal Housing Enterprise Regulatory Reform Act of 2005
Bill Summary:
1/26/2005″Introduced. Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish:
(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and
(2) the Federal Housing Enterprise Board. Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting:
(1) assessment authority;
(2) authority to limit non-mission-related assets;
(3) minimum and critical capital levels;
(4) risk-based capital test;
(5) capital classifications and undercapitalized enterprises;
(6) enforcement actions and penalties;
(7) golden parachutes; and
(8) reporting. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation.
Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. Excludes the Federal Home Loan Banks from certain securities reporting requirements. Abolishes the Federal Housing Finance Board.
The bill introduced in 2005 and John McCain was a sponsor. John McCain is on the record as being for regulatory reform and Obama and Biden along with alot of other democrats voted to block this measure. So McCain was for regulatory reform before Obama voted against it for Freddie Mac and Fannie Mae. Notice above the mention of golden parachutes and capital risk tests.
BARNEY FRANK IN 2003:
‘These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
CHRIS DODD, July 11, 2008:
“This is not a time to be panicking about [Fannie May and Freddie Mac] “These are viable, strong institutions.”
Here’s a NYT article from Sept, 2007 -
the dems pushed for Freddie and Fannie to buy up all those defaulting mortgages. Paulsen and Bernacke (and Bush) were against the idea and foresaw what would happen.
http://www.nytimes.com/2007/09/21/business/21home.html
Feb of 2005 Alan Greenspan warned of the impending disaster for Freddie Mac and Fannie Mae…in fact everytime he made a statement, he included this warning. Many times he tried to warn us.
2003 Bush tried to pass regulatory reform of Freddie Mac and Fannie Mae.
Posted by: HP Boston | Sep 26, 2008 2:02:53 PM
The only think to Really worry about debating, is, can those surronded by corrupt money, is turned Clinton from Deocrates. And seems to buy fixed records. What if Clinton, and Rick Davis, knew they could buy anybody they wanted. It Fixed McCains Record in the past. And Do not, forget how it bought, Nixons election. I am sure, that special interest groups, who have paid lobbiests, could fix any paperwork. Clinton, had bought de-regulatios, paperwork fixers, and now McCain will have to distance himself, from Rick Davis and Clinton scandels. After all, what if they try to buy Joe Biden. They made Obamas paperwork disappear before. After all, the FBI has been bought before. Those special interest groups, are still on Wall Street, and in other postistion in HIGH Government. McCain should not Debate Obama. McCain is still best friends with Clinton, and has covered up Rick Davis' Paperwork as best as he could. The 'Secret Government', is still in place. We WILL remember McCain has been in Government, a LONG TIME. Imagine that McCain has MORE POWER to fix the POLLS, and FIX PAPERWORK. How Will AMERICANS, Be able to trust a MYTHICAL SECRET ILLUMINATI. The Debates should NOT go on.
Posted by: historyforgotten | Sep 26, 2008 4:50:23 PM
I SENT THIS LETTER TO MY REPRESENTATIVES IN CONGRESS:
We demand that Congress stops adding earmarks and pork within the contents of the "Bail Out Bill". In addition we do not want a payout to ACORN --- or any organization like ACORN.
We feel this is an egregious abuse of House and the Senate positions in Congress. Enough is enough.
We will no longer continue to vote or support any Representative or Senator who votes for bills with earmarks and pork or allots money to ACORN.
I BELIEVE THE PEOPLE WHO WALKED AWAY WITH TONS OF MONEY SHOULD BE RESPONSIBLE FOR THE BAIL OUT.
If the government agrees to pay off mortgages for people who bought homes they could not afford --- then the government needs to pay off ALL mortgages for ALL legal American citizens.
I don't want my tax payments used to pay off somebody else's home!
I PERSONALLY AM AGAINST A WALL STREET BAILOUT BUT AT LEAST FORKING OVER A THIRD OF THE MONEY --- WITH THE REST CONTINGENT ON EFFECTIVENESS --- MAKES SENSE.
I AM TOTALLY AGAINST GIVING 10% TO ORGANIZATIONS LIKE “ACORN”. PEOPLE SHOULD NOT BUY HOMES THEY CAN’T AFFORD. DO NOT BAIL THEM OUT.
NORTH CAROLINA TAXPAYER
===================================
Barack Hussein Obama is campaigning tomorrow --- promoting "himself".
Why isn't Obama going back to DC to work on our country's crisis? If he can't do his senate job --- he surely can't run this country! --- OR maybe that's above his pay grade!
Country First in 2008.
Posted by: HONORABLE JOHN McCAIN IN 2008 | Sep 27, 2008 1:03:48 AM
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