$700 bil rescue plan finalized; House to vote Monday

Monday 29th September, 06:27 AM JST

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McNeoCon at 12:14 AM JST - 30th September

way to go sarge, nice to see a real patriot showing the whining liberals that its the DEMOCRATS fault the economy is in this state. The eight glorious years of fiscal genius from President Bush are certainly NOT to blame its the fault of the DEMOCRAT controlled congress. even a little kid should be able to work than one out.
Sarge at 12:21 AM JST - 30th September

Sushi - Who's been running Congress and wasting billions of dollars recently? Look it up.

Never heard of Franklin Raines or Jim Johnson? Look 'em up.

Alan - Since you can't do your own homework, here's a link to get started:

http://wnd.com/index.php?fa=PAGE.view&pageId=75586
TheNewFed at 12:34 AM JST - 30th September

McNeoCon- great post. Of course the Dem congress is to blame, but the Democrats blame everything on Bush.

The rescue plan will rescue the US from the greed of bankers and shareholders. This money will be invested for the good of the whole nation.

If Obama was president he would spend it on his favorite social programs, to help minorities and others who expect free government handouts.
adaydream at 12:41 AM JST - 30th September

Sarge - That's the first time you've ever supplied a link, I think. Very good.

But how does this one story strictly about FannieMae and FreddieMac answer your allegation? the US taxpayer has been totally shafted by the Democrats.

John McCain, the deregulation king, has been pushing for deregulations.

http://progressiveaccountability.org/2008/09/17/john-mccain-the-deregulator/

http://en.wikipedia.org/wiki/PoliticalpositionsofJohnMcCain - This article even discribes how Jogn McCain considers aid to the poor as "Pork Barrel spending."

Through the efforts of John McCain the markets have been allowed to steal and lose at no cost $Billions of investers money. < :-)
McNeoCon at 12:43 AM JST - 30th September

The Bush administration tried to reform oversight of Freddie Mac and Fannie Mae back in 2003, but was blocked by DEMOCRATS.sarge is right.
jeancolmar at 01:40 AM JST - 30th September

Okay, neo cons, how about the whole truth? McCain's staff is full of lobbyist for Freddie Mac and Fannie Mae. This is from Mother Jones (and pardon the long quote):

>

In McCain's op-ed in the Journal, he and Palin wrote:

For years, Congress failed to act and it is deeply troubling that what we are seeing is an exercise in crisis management rather than sound planning, and at great cost to taxpayers. We promise the American people that our administration will be different. We have long records of standing up to special interests… But McCain's own campaign staffers are those special interests, a fact that casts doubt on both McCain's hiring judgment and his ability to pursue tough reforms of Fannie and Freddie.

Aquiles Suarez, listed as an economic adviser to the McCain campaign in a July 2007 McCain press release, was formerly the director of government and industry relations for Fannie Mae. The Senate Lobbying Database says Suarez oversaw the lending giant's $47,510,000 lobbying campaign from 2003 to 2006.

And other current McCain campaign staffers were the lobbyists receiving shares of that money. According to the Senate Lobbying Database, the lobbying firm of Charlie Black, one of McCain's top aides, made at least $820,000 working for Freddie Mac from 1999 to 2004. The McCain campaign's vice-chair Wayne Berman and its congressional liaison John Green made $1.14 million working on behalf of Fannie Mae for lobbying firm Ogilvy Government Relations. Green made an additional $180,000 from Freddie Mac. Arther B. Culvahouse Jr., the VP vetter who helped John McCain select Sarah Palin, earned $80,000 from Fannie Mae in 2003 and 2004, while working for lobbying and law firm O'Melveny & Myers LLP. In addition, Politico reports that at least 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years.

For years McCain campaign manager Rick Davis was head of the Homeownership Alliance, a lobbying association that included Fannie Mae, Freddie Mac, real estate agents, homebuilders, and non-profits. According to Politico, the organization opposed congressional attempts at regulation of Fannie and Freddie, along the lines of what John McCain is currently proposing. In his capacity of president of the group, Davis went on record in 2003 and insisted that no further reform of the lenders was necessary, in contradiction to his current boss's sentiments. "[Fannie and Freddie] are subject to an innovative and stringent risk-based capital stress test," Davis wrote. "The toughest in the financial services industry." >

Furthermore, the problem of sub-prime loans did not begin with those to agencies. They began with so-called deregulation, which John McCain and the "free market forces" gang pushed for years--and succeeded in instituting under Reagan. That state of affairs allowing crooked capitalists to push people into debt.

Look the banks and the housing industry just didn't passively allow bad loans to happen. They pushed them. They marketed them. They actively persuaded working people to take out loans that they could not afford. Bush and Company did not try to stop this. Neither did McCain. In fact no one did. Reforming Freddie and Fannie would have done nothing or next to nothing to stem the epidemic of sub-prime loans.
jeancolmar at 01:41 AM JST - 30th September

The block quote got screwed up. the last ">" ends it.
adaydream at 02:53 AM JST - 30th September
The republicans have voted down the bailout at the moment. So what ever happens to the markets now is the republicans doing.

The stock market of down 665.60, also.

The more "no votes", the farther it falls.

It's workers' IRAs and 401s tanking and the republicans are saying, we don't care.

Time remaining to vote 0:00. Votes Dem 141 to 94 for.
```
                                Rep 65 to 133 against.

                                1 republican not voting.
```
At this time the republicans have killed it. < :-)
adaydream at 02:54 AM JST - 30th September

Dem 141 for to 94 against.

Rep 65 for to 133 against. < :-)
adaydream at 05:53 AM JST - 30th September

I agree with Barney Franks: http://www.cnn.com/2008/POLITICS/09/29/bailout.fallout/index.html#cnnSTCVideo < :-)
Alinsky4prez at 07:01 AM JST - 30th September

I knew we could count on Nancy Pelosi.
SushiSake3 at 10:30 AM JST - 30th September

Alinsky4prez. Republicans bought this one down.
Sarge at 11:10 AM JST - 30th September

Sushi / Alan - This vote proves that more Republicans than Democrats are concerned with wasting the taxpayers' money.
adaydream at 01:33 PM JST - 30th September

Nah, it shows that the republicans don't give two cents for Main Street. They'd rather cry because Pelosi hurt their feelings and they cried all their way back home. < :-)
Loki520 at 05:37 PM JST - 1st October

The stock market of down 665.60, also. The more "no votes", the farther it falls.

Wrong... it started climbing today. If you people would just allow it, the market would, and is, correcting itself.