Quote:
Originally Posted by chelsea24
As I'm writing this, the dow is down around 700 pts. The Bailout did not pass strictly because of the Republicans. Their theme of "Country First" should not be put on the toilet paper shelves. And McCain can kiss his campaign good-bye.
They are trying to spin this that it was due to something Nancy Pelosi said. Give me a break! I watched what she had to say and I have seen literally hundreds of times where Republicans and Democrats have talked to and about each other in this manner. The Republicans really do think the American Public is stupid.
This type of arrogance has reigned over this country for the last 8 years. These Republican congressmen & women have spit on their own President and the American Public.
Please, please don't come back with that "Nancy Pelosi" excuse. It's ridiculous and school yard. To blame the Democrats in any way, shape or form will not hold water.
All of you holding your "Country First" signs can now use them as wallpaper. They have shown their true colors in a stunning and frightening way.
This is a very sad day for America.
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What a crock!
If this is a case of Pelosi/Bush/Dowd/Frank blinders, then they're on good and tight.
The bailout did not pass because it was a bad idea that a goodly number of Democrats and Republicans realized.
One of the main causes for this mess was the Financial Services Modernization Act of 1999 (who was President then?) which let the financial institutions operate at pre-1929 freedom. BOTH political parties should be wearing the scarlet letter for this act and letting it live - but the politicians got rich off of it (and still are).
The bill that went to a vote still had no fix for the root cause of the problem. Instead it was"Give me the money and I'll fix ev erything later." Sort of sounds like the Wimpy "hamburger" story.
And why should the financial institutions get the money? Because Pres. Bush, Sen. Dowd, Rep. Frank and Speaker Pelosi say so?
When I got taught first aid, when you give a victim an IV of plasma or whole blood, you must also stop the bleeding right then, or what goes in one end just keeps going out the other. Where was the "stop bleeding" in this bill? Oh yeah, there was none, but "trust me, I'll fix it later, after we have some hearings..."
Congratulations to those Congresspersons - Democratic and Republican - with the backbone to vote "COUNTRY FIRST" today!
And yes, "Wall Street" in the personage of Citicorp will get $300Billion for FDIC bailout of Wachovia today. And even though it's "FDIC" it is really "GENERAL TREASURY, USA" that shells out that money.