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Kucinich says not enough votes for bailout

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User ID: 437351
9/28/2008 11:11 PM

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Kucinich says not enough votes for bailout

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A prominent liberal Democratic lawmaker said Sunday there are not enough votes to pass the bailout package as it stands now.

“I will tell you right now I don’t know if they have votes,” said Rep. Dennis Kucinich (D-Ohio). “If the votes were there, this would be on the floor. The votes aren’t there.”

more at link...
[link to thehill.com]

If you are worthy of its affection, a cat will be your friend, but never your slave.

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[link to www.defenders.org]

The Strong do not Victimize the Helpless.

Anonymous Coward
User ID: 463567
9/28/2008 11:17 PM

Re: Kucinich says not enough votes for bailout	Quote
been posted already tonight.

Self-Similarity
User ID: 437351
9/28/2008 11:18 PM

Re: Kucinich says not enough votes for bailout	Quote
been posted already tonight. Quoting: Anonymous Coward 463567 my bad. did not see it. If you are worthy of its affection, a cat will be your friend, but never your slave. [link to www.hsus.org] [link to www.defenders.org] The Strong do not Victimize the Helpless.

FoJ nli
User ID: 507164
9/28/2008 11:19 PM

Re: Kucinich says not enough votes for bailout	Quote
New news to me thanks LS.

Anonymous Coward
User ID: 503886
9/28/2008 11:19 PM

Re: Kucinich says not enough votes for bailout	Quote
been posted already tonight. my bad. did not see it. Quoting: LS Yea LS, you freaking noob.

OneConsciousness Subscriber

I believe in Miracles....
User ID: 509431
9/28/2008 11:20 PM

Re: Kucinich says not enough votes for bailout

Quote

been posted already tonight.

my bad. did not see it.

Quoting: LS

Me, neither.

But certainly can't be as bad as the thousand threads regarding who won Friday's debate, or the 50 threads about Paul Newman dying, and now I can't even remember the other subject there were a hundred threads about....

You are the angel for whom someone is waiting.

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Self-Similarity
User ID: 437351
9/28/2008 11:20 PM

Re: Kucinich says not enough votes for bailout	Quote
been posted already tonight. my bad. did not see it. Yea LS, you freaking noob. Quoting: Anonymous Coward 503886 i search but must have not typed the right word in. If you are worthy of its affection, a cat will be your friend, but never your slave. [link to www.hsus.org] [link to www.defenders.org] The Strong do not Victimize the Helpless.

JCD

User ID: 458772
9/28/2008 11:31 PM

Re: Kucinich says not enough votes for bailout	Quote
Thanks LS. From all the different thread posted, I couldn't tell if it had already passed, was being passed, or wouldn't pass. Glad I found your post! Things change when you least expect it.

Anonymous Coward
User ID: 507881
9/28/2008 11:37 PM

Re: Kucinich says not enough votes for bailout	Quote
I'm really starting to suspect some blackmail going on behind the scenes here.....How many have reported full answering machines, busy phone lines and the like by constituents calling their congressmen??? I'm hearing more than 90% of them are against this bail-out... You wonder if maybe the "Federal" Reserve thugs are threatening to grind things to a halt if their demands aren't met?

JCD

User ID: 458772
9/28/2008 11:39 PM

Re: Kucinich says not enough votes for bailout

Quote

I'm really starting to suspect some blackmail going on behind the scenes here.....How many have reported full answering machines, busy phone lines and the like by constituents calling their congressmen??? I'm hearing more than 90% of them are against this bail-out...

You wonder if maybe the "Federal" Reserve thugs are threatening to grind things to a halt if their demands aren't met?

Quoting: Anonymous Coward 507881

If they are being blackmailed, I say 'Congressmen, call their bluff'! It isn't going to change the demise and the congressmen will go down looking pretty darned good to the people, having finally STOOD UP.

Things change when you least expect it.

Anonymous Coward
User ID: 462545
9/28/2008 11:43 PM

Re: Kucinich says not enough votes for bailout	Quote
No they won't having FINALLY stood up. FINALLY is TOO LATE.

JCD

User ID: 458772
9/28/2008 11:44 PM

Re: Kucinich says not enough votes for bailout	Quote
Oh, I don't mean them standing up is going to save us or anything.........it would just be nice to see them say no, just one time. Things change when you least expect it.

Anonymous Coward
User ID: 405021
9/28/2008 11:47 PM

Re: Kucinich says not enough votes for bailout	Quote
Thanks for posting this!

zen warrior
User ID: 485158
9/28/2008 11:55 PM

Re: Kucinich says not enough votes for bailout	Quote
I hope they vote no or else we are going to have to take direct action!

Self-Similarity
User ID: 437351
9/28/2008 11:56 PM

Re: Kucinich says not enough votes for bailout

Quote

These are not my words, but you need to read it and send it to Congress! The vote is tomorrow! I have sent it to so many I cannot count. Enough is enough.

CONGRESS: THINK BEFORE YOU ACT!

You are being asked to pass a $700 billion “bailout” or “rescue” package and are told by your leadership that it

is “necessary” to prevent a catastrophe in the financial markets and, by extension, on Main Street. Please think

carefully about the following facts before you vote:

· Public opinion is running anywhere from 100:1 to 300:1 against passing this bill, according to sources

on Capitol Hill. You must return home after you pass this package to ANGRY constituents with an

election less than a month away. Given the massive size of this package, the fact that it rewards the

guilty on Wall Street and does nothing to address the cause that anger is fully justified.

· Non-financial private debt is $32.4 trillion dollars as of 2Q 2008. Household debt is $14.0 trillion.

Households lost 400 billion dollars last quarter. You wish to add $700 billion more in losses (via

government obligations that taxpayers must cover) this quarter; this package is insignificant against the

total bad credit outstanding. Federal capacity to “bail the system out” is insufficient.

· It will not and cannot work because the issue is trust, not money. There is lots of money (and credit)

but it is being hoarded throughout the system. Consumer savings have gone from nothing to the highest

rate ever in American history – in the space of a few months. Money is flying into Treasuries because

of lack of trust, not lack of money. You must fix the cause of the problem, not apply band-aids.

· Commercial paper is being cited as the “lockup” that threatens an imminent financial train wreck. The

truth is that commercial paper rates for “AA” rated non-financial firms is placing at a rate half that of a

year ago as the Fed Funds target has been dropped from 5.25 to 2%ii. With risk having increased the

rate of return offered is lower? This is where the stress is coming from; at last summer’s rates this

paper would roll. You are being gamed by Paulson and Bernanke; look at the table in the reference and

you will see that even for “threatened sectors” rates are not materially higher than last year.

· If you pass this bill and the market implodes you will be held directly responsible. There are records

of thousands of signatures across seven petitions faxed to you (at my expense) dating back to October of

2007 on this topic. Many experts, including Nouriel Roubini, “Mish” Shedlock, Dr. Faber, The Weiss

Institute and over 160 economists have warned Congress that this proposed plan will not work. Are

you prepared to face a full-page ad in the Wall Street Journal and/or USA Today exposing these facts?

· There are alternatives that will work; they all involve restoring trust and using existing market

mechanisms to resolve insolvent institutions.iii While I am not particularly partial to my view on how

we resolve “failed” institutions, addressing the root of the problem – lack of trust – is paramount. Three

elements are involved here, they are obvious, and they must be fixed or you will FAIL.

· We only get one more shot at this; we have spent over $1.6 trillion thus far (by some estimates; $500

billion by others) attempting the same thing over and over again and it has not worked.

DO NOT PASS THIS BILL AS IT DOES NOT ADDRESS THE CAUSE AND WITHOUT DOING SO

YOUR EFFORTS ARE DESTINED TO FAIL. THE VOTERS ARE RIGHT AND WILL HOLD YOU

TO ACCOUNT SHOULD YOU THROW $700 BILLION INTO A FINANCIAL HURRICANE.

If you are worthy of its affection, a cat will be your friend, but never your slave.

[link to www.hsus.org]
[link to www.defenders.org]

The Strong do not Victimize the Helpless.

bitchfromhell
User ID: 473633
9/29/2008 12:08 AM

Re: Kucinich says not enough votes for bailout

Quote

Quoting: LS

God love you, baby, I didn't see it before.

Of course, you realize they're probably just holding out their vote waiting for more money to grease their palms.

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