Author's posts
Sep 29 2008
Bailout Defeated: Chalk one up for democracy
The Wall Street bailout plan has been defeated in the House.
WASHINGTON – In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.
The vote against the measure was 228 to 205. Supporters vowed to try to bring the rescue package up for consideration again as soon as possible.
…
House leaders pushing for the package kept the voting period open for some 40 minutes past the allotted time, trying to convert “no” votes to “yes” votes by pointing to damage being done to the markets, but to no avail.
Whatever the relative merits of the economic legislation, this is still a very good day for our Republic.
It is far past time the Congressional Leadership realized that they are Representatives of the People – not of Wall Street bankers, corporate moguls, and foreign money lenders. With public opinion so dead set against this bill, Pelosi and the others had no business trying to ram it through the House without adequate discussion and debate.
Hopefully, the defeat of Paulson’s Folly today will be a harbinger of a new era of greater accountability and responsibility by our elected representatives to the wishes of those whom they purport to represent.
But whatever the future may hold, at least on this day our Constitutional Republic has shown that it still has some life left in it.
Update: More on the vote from KagroX here.
Sep 26 2008
Earth to Dems: Stop Trying to Own The Bailout (Updated)
I’m with Kos:
The American people aren’t happy with this bailout. Democrats are giving McCain a gift by allowing him to be seen as its slayer. Yet Democrats sit there thinking that lining up behind Bush’s proposal will somehow be a political plus.
Yet every challenger across the nation, Democratic and Republican, is running against this thing to public cheers. The tone deafness on this is shocking.
At this point I really don’t know who is more incompetent, the Democratic Leadership or the Bush Administration.
All day Thursday – all frickin’ day – we were treated to one pic after another showing Democratic politicians working feverishly to pass a bailout plan that NOBODY WANTS – except Wall Street Fat Cats, Foreign Loan Sharks, and George W. Bush of course.
First, we had shots like this of Chris ‘Fred Flintstone’ Dodd and Barney ‘Rubble’ Frank in a desperate barefoot spin to get this 700 billion ton jalopy moving.
Next we had that uber-embarrassing White House meeting with Pelosi and Reid flanking George Bush like they were his guardian angels.
How bad does this look?
You’ve got polls showing an anemic 30% public support for the bailout, the AFL-CIO picketing Wall Street and Congressional mail coming in at 19 to 1 against, and yet the Dem Leadership somehow thinks it’s to their political advantage to be seen as large and in charge of this monstrosity?
Clueless.