House Defeats Bailout Package

[OP_Carl]

You know how some folks keep saying this election is John McCain's to lose?

Well, he's done it. He's decided to just run right out there and lose it.

ONE DAY AFTER congressional leaders reported that representatives were receiving constituent calls 100-to-1 AGAINST the bailout, John McCain is urging the Treasury Department to use its $1 Trillion currency exchange stabilization fund to perform the bailout WITHOUT congressional approval!!!!











The will of the people, the future of the people, the unsustainable national debt ALL be hanged, John McCain is going to make sure that his friends in the power oligarchy are taken care of!

Now I'm back to square one: Constitution party or write in Ron Paul . . .

[Pressing-On]

Originally Posted by OP_Carl

You know how some folks keep saying this election is John McCain's to lose?

Well, he's done it. He's decided to just run right out there and lose it.

ONE DAY AFTER congressional leaders reported that representatives were receiving constituent calls 100-to-1 AGAINST the bailout, John McCain is urging the Treasury Department to use its $1 Trillion currency exchange stabilization fund to perform the bailout WITHOUT congressional approval!!!!











The will of the people, the future of the people, the unsustainable national debt ALL be hanged, John McCain is going to make sure that his friends in the power oligarchy are taken care of!

Now I'm back to square one: Constitution party or write in Ron Paul . . .

Where are you reading that about McCain?!!!! Ooops, didn't realize if I hit your underlined wording it would give me the link.

[Pressing-On]

Okay, OP_Carl. I read it and checked out the Exchange Stabilization Fund.

The Exchange Stabilization Fund (ESF) is a branch of the United States Treasury Department which manages a portfolio of domestic and foreign currencies for the purpose of foreign exchange intervention. This particular arrangement (as opposed to having the central bank intervene directly) allows the US government to influence the exchange rate without affecting domestic money supply.

He said that he wanted Bush to use it "creatively as possible".

What does it all mean?

[rgcraig]

Senate to vote on rescue plan with added tax cut By CHARLES BABINGTON and ANDREW TAYLOR, Associated Press Writers
10 minutes ago



WASHINGTON - In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.

The goal is to net at least 12 more House votes than the rescue proposal received Monday, when lawmakers rocked the political and financial worlds by rejecting it.

The gambit is certain to anger some conservative House Democrats, who object to tax cuts that are not offset with spending cuts. But Senate strategists assume it will gain more House votes than it will lose.

If so, Congress would be poised to pass landmark legislation giving the government billions of dollars to buy deeply discounted mortgage-backed securities that are choking off credit and roiling the markets.

The strategy is risky because some House members might see it as a high-handed move by senators. Senate passage of a bailout measure has seemed assured all along. The showdown is in the House, but now the Senate is trying to force the House's hand.

Sen. Charles Schumer, D-N.Y., called it "a brilliant move" that will "help pick up votes on both sides of the aisle."

House Speaker Nancy Pelosi. 's reaction was much cooler. "The Senate has made a decision about how to proceed and what can pass that body," the California Democrat said. "The Senate will vote tomorrow night, and the Congress will work its will."

http://news.yahoo.com/s/ap/financial_meltdown

[All4one]

I think maybe both parties are run by the international bankers so it wont matter who we vote for!

[Pressing-On]

Originally Posted by All4one

I think maybe both parties are run by the international bankers so it wont matter who we vote for!

It might be a good idea to study the backgrounds of both candidates before you make a statement like that.

[OP_Carl]

Originally Posted by rgcraig

Senate to vote on rescue plan with added tax cut By CHARLES BABINGTON and ANDREW TAYLOR, Associated Press Writers
10 minutes ago



WASHINGTON - In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.
. . . .
Sen. Charles Schumer, D-N.Y., called it "a brilliant move" that will "help pick up votes on both sides of the aisle."

If Schumer likes it, it's bound to be bad. That man keeps a shredder on his nightstand so he can shred a copy of the constitution before he even gets out of bed each morning!

House Speaker Nancy Pelosi's reaction was much cooler. "The Senate has made a decision about how to proceed and what can pass that body," the California Democrat said. "The Senate will vote tomorrow night, and the Congress will work its will."

The strain on this woman is telling. She is beginning to really regret vowing that this would be the most ethical congress ever . . .

It's staggering to think that this woman is electable . . . . . . . but that is San Francisco for you.