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kennetha

(3,666 posts)
Wed Mar 9, 2016, 08:07 PM Mar 2016

When President Elect Obama came Calling, Bernie said "hell no I won't go!"


The President-elect, however, can be a very persuasive politician, and McCaskill emerged from the luncheon singing a different tune. "He made a pretty compelling case," she said. McCaskill still wasn't quite ready to promise her vote, but others apparently were. Enough Democrats left Tuesday's meeting ready to support Obama that Senate majority leader Harry Reid afterward told reporters, "I think we will get the necessary votes" to block the resolution in a vote expected on Thursday. It was a sharp change from earlier in the morning, when his office had expressed doubts that they had the votes, even though Dems, who hold 58 seats right now, only need to produce a simple majority of 50. "We can all look back and talk about how the first $350 billion was not spent, but it's very clear that there's going to be a lot of money spent to help the housing industry," said Reid.

Even before he appeared on the Hill, Obama was laying groundwork to avoid a TARP train wreck. In a letter sent on Monday to congressional leaders, he pledged to devote much of the second installment to assisting small businesses and helping students and car buyers get loans. In personal calls to members on both sides of the aisle he promised better transparency of how the funds are disbursed, reflecting the frustration and anger of many members regarding the Treasury Department's handling of the funds. Still, many Democrats said on Monday that Obama's letter was not enough to convince them to vote against the resolution, which was filed by Senator David Vitter, a Louisiana Republican. Most fiscal conservatives, like Vitter, opposed the TARP from its inception, and even those who voted to pass it in September have insisted that something more than Obama's vague promises is needed to win their grudging support.

So what did Obama say to charm his former colleagues into blocking the resolution? He promised to write, in a detailed manner, a letter explaining how his Administration would dole out the funds once he is sworn in on Jan. 20. "The conditions have to do with tracking the money, how the money can and can't be used, accountability for the money, what dividends cannot be spent with it, the executive pay issues," said Senator Carl Levin, a Michigan Democrat, emerging from the meeting. "In other words, there's a whole host of misuses of the first half which have to be avoided the second time around." The detailed letter, which may come from Obama's economic adviser Larry Summers, is expected to arrive before a potential vote on Thursday. Levin added that such a letter would be enough for him to vote against the resolution.

Obama Urges Congress Not to Block the Bailout



This story shows a lot about Obama, a lot about Hillary, and a helluva lot more about what a purist Sanders is, who cannot be counted on when push comes to shove. I hope Hillary whips his sorry ass all around the stage tonight over this.
47 replies = new reply since forum marked as read
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When President Elect Obama came Calling, Bernie said "hell no I won't go!" (Original Post) kennetha Mar 2016 OP
Where does the name Sanders appear in this article? arcane1 Mar 2016 #1
He's one of the one's who voted to block Tarp funds despite the President elect's plea kennetha Mar 2016 #3
Hmm... arcane1 Mar 2016 #6
but they were kennetha Mar 2016 #13
This message was self-deleted by its author Luminous Animal Mar 2016 #8
Bravo Sanders! JackRiddler Mar 2016 #46
No kidding, how is trying to spin TARP into a positive even a strategy at all? Coincidence Mar 2016 #47
I hope Hillary whips his sorry ass all around the stage tonight over this. UglyGreed Mar 2016 #2
Such astute policy analysis, right? arcane1 Mar 2016 #4
And this poster UglyGreed Mar 2016 #10
That one is like a pit bull munching on a double decker peanut butter sammich.nt nc4bo Mar 2016 #7
... UglyGreed Mar 2016 #11
Haven't Heard That One Before SDJay Mar 2016 #32
That's as intellectual as it gets. HooptieWagon Mar 2016 #38
tarp was the largest theft known to man Csainvestor Mar 2016 #5
Bingo. We got not one cent, and we lost our houses, jobs and retirement. nt JFKDem62 Mar 2016 #9
Exactly! Carolina Mar 2016 #15
Thanks! JFKDem62 Mar 2016 #34
Obama was promising to use Tarp money for main street rather than wall street kennetha Mar 2016 #23
And did Obama follow through on that promise? NWCorona Mar 2016 #33
yes most definitely kennetha Mar 2016 #37
Here let me correct this for you. TM99 Mar 2016 #12
Tarp was already law kennetha Mar 2016 #16
Why do you continue to push this artful smear TM99 Mar 2016 #26
What Clinton said is both true and revealing kennetha Mar 2016 #31
Clinton also said she landed under sniper fire as well. NWCorona Mar 2016 #35
Let's put this all together TM99 Mar 2016 #39
That's just stupid. kennetha Mar 2016 #40
No son, that is not stupid. TM99 Mar 2016 #41
the way government "works" kennetha Mar 2016 #42
The perfect is the enemy of the good has nothing to do with what you are saying. TM99 Mar 2016 #43
My Democratic Senator and my Democratic Rep voted no on TARP as well. You are bashing them Bluenorthwest Mar 2016 #14
that's not what happened kennetha Mar 2016 #18
What I quoted is from your link. I remember all of this, kennetha. You can't reconsturct history. Bluenorthwest Mar 2016 #21
I just posted the letter Mnpaul Mar 2016 #20
shows something because Obama was still PoTUS elect when the article was written azurnoir Mar 2016 #17
right kennetha Mar 2016 #19
Lol why then do you only claim this now but still no wash any questions ask Michigan azurnoir Mar 2016 #22
wait a minute here your claiming TARP was already law at this point - interesting indeed azurnoir Mar 2016 #25
Tarp was passed into law in 2008 under Bush and Paulson. kennetha Mar 2016 #36
So Sanders was against Bush's gift to his criminal friends? Oh noes! Doctor_J Mar 2016 #45
Lots of Democrats disagreed with the President elect, they are not obliged to do as such persons Bluenorthwest Mar 2016 #27
That good ole authoritarian mind set at work. n/t arcane1 Mar 2016 #29
Yeah and? ibegurpard Mar 2016 #24
We must support Obama by supporting the TPP, or else the republicans win!!11 arcane1 Mar 2016 #30
Oh, Jesus. You again !! pangaia Mar 2016 #28
His sorry ass? Doctor_J Mar 2016 #44

kennetha

(3,666 posts)
3. He's one of the one's who voted to block Tarp funds despite the President elect's plea
Wed Mar 9, 2016, 08:10 PM
Mar 2016

that's what Hillary was referring to in Detroit.

 

arcane1

(38,613 posts)
6. Hmm...
Wed Mar 9, 2016, 08:12 PM
Mar 2016

"Summers, in a separate letter earlier this week, pledged that any additional funds for the automakers would not come from the TARP monies."

Response to kennetha (Reply #3)

 

Coincidence

(98 posts)
47. No kidding, how is trying to spin TARP into a positive even a strategy at all?
Wed Mar 9, 2016, 11:04 PM
Mar 2016

The bank bailouts were so unpopular that 8 years later it is still commonly griped about or used as an example of how broken our government is.

UglyGreed

(7,661 posts)
2. I hope Hillary whips his sorry ass all around the stage tonight over this.
Wed Mar 9, 2016, 08:09 PM
Mar 2016

Another very intellectual statement.......

UglyGreed

(7,661 posts)
10. And this poster
Wed Mar 9, 2016, 08:16 PM
Mar 2016

was complaining about Sanders supporters and how they are less than astute with their critiques and replies.

Csainvestor

(388 posts)
5. tarp was the largest theft known to man
Wed Mar 9, 2016, 08:12 PM
Mar 2016

ordinary american citizens didn't get one cent, the billionaire class was bailed out.

kennetha

(3,666 posts)
23. Obama was promising to use Tarp money for main street rather than wall street
Wed Mar 9, 2016, 08:25 PM
Mar 2016

in the second go round.

Urged the Congress not to block the funds, despite the unpopularity of TARP. Bernie said screw main street.

 

TM99

(8,352 posts)
12. Here let me correct this for you.
Wed Mar 9, 2016, 08:17 PM
Mar 2016

What you call a purist is actually a honest politician with principles. And unlike Clinton he does not lie, pander, and compromise them just for the sake of power or getting long in order to gain power latter. And unlike Obama, Sanders has put on his soft shoes and walked with union members. Obama turned out to be a massive disappointment for many as his progressive message of Hope & Change was just another Madison Avenue aware winning marketing campaign.

Hillary should come out again on this tonight. It worked so fucking well in Michigan that she lost an apparent 20 point lead in the matter of a day.

kennetha

(3,666 posts)
16. Tarp was already law
Wed Mar 9, 2016, 08:20 PM
Mar 2016

And Sanders was so upset about it, that he was willing to sell out the auto industry.

He'd rather see no more tarp funds released, than save the auto industry.

The Auto Bailout Keeps Growing, and Growing

kennetha

(3,666 posts)
31. What Clinton said is both true and revealing
Wed Mar 9, 2016, 08:37 PM
Mar 2016
Clinton said Sanders "was against the auto bailout" and "voted against the money that ended up saving the auto industry."

Sanders did vote against a set of funds that financed most of the auto bailout — though the funds’ primary purpose was bailing out Wall Street firms, which Sanders strongly opposed.
 

TM99

(8,352 posts)
39. Let's put this all together
Wed Mar 9, 2016, 08:43 PM
Mar 2016

not just your cherry picking dude.

Clinton said Sanders "was against the auto bailout" and "voted against the money that ended up saving the auto industry."

Sanders did vote against a set of funds that financed most of the auto bailout — though the funds’ primary purpose was bailing out Wall Street firms, which Sanders strongly opposed.

The claim, though, leaves listeners with the impression that Sanders’ opposed bailing out the auto industry. But he voted in favor of providing auto companies with $14 billion, which was separate from the Wall Street bailout funds he opposed. That standalone measure failed.


So stop, really, you have lost this argument. Your side lost this argument. It cost you Michigan it was such a lousy smear.

kennetha

(3,666 posts)
40. That's just stupid.
Wed Mar 9, 2016, 08:51 PM
Mar 2016

Sanders voted for something that had no actual effect on the auto industry. It didn't become law.

He'll stand up for you, when it doesn't count. But when it's time to actually put money where his mouth his, his principles matter to him more than saving you.

Can't vote to same you, cause of my precious principles.

 

TM99

(8,352 posts)
41. No son, that is not stupid.
Wed Mar 9, 2016, 08:54 PM
Mar 2016

That is called being congruent and principled.

I know you are supporting a pathological liar so it might be hard to comprehend.

You do know how government works right? Not everything that is voted upon or supported becomes law. Read a book, learn a think or two, and then come back again for round three.

kennetha

(3,666 posts)
42. the way government "works"
Wed Mar 9, 2016, 09:03 PM
Mar 2016

is when you don't let the perfect be the enemy of the good and you are willing to get your hands soiled sometimes to achieve things in that will make peoples lives better in the real world.

it's more than just a debating society for ideologues.

 

TM99

(8,352 posts)
43. The perfect is the enemy of the good has nothing to do with what you are saying.
Wed Mar 9, 2016, 09:11 PM
Mar 2016

The phrase, if you bothered to look it up, actually speaks to this: if we have decided to not stop until something is perfect, then we may never complete a task.

Sanders is willing to compromise and work on real life legislation. He is called the amendment king for that very reason. He wasn't debating as an ideologue, he was voting, along with other Democrats, against very bad legislation.

Please just stop. You are looking foolish now.

 

Bluenorthwest

(45,319 posts)
14. My Democratic Senator and my Democratic Rep voted no on TARP as well. You are bashing them
Wed Mar 9, 2016, 08:19 PM
Mar 2016

over Bush legislation. Good for you and for your candidate!

Did you see this? In your own damn link? " Summers, in a separate letter earlier this week, pledged that any additional funds for the automakers would not come from the TARP monies."

 

Bluenorthwest

(45,319 posts)
21. What I quoted is from your link. I remember all of this, kennetha. You can't reconsturct history.
Wed Mar 9, 2016, 08:25 PM
Mar 2016

Many Democrats opposed that deal. They were right to do so. The Republicans were insisting that the auto makers be left out, Summers was promising this. It is therefore impossible to claim that bill was all about saving the auto makers. It's a bogus claim and the voters know it.

Mnpaul

(3,655 posts)
20. I just posted the letter
Wed Mar 9, 2016, 08:25 PM
Mar 2016
http://change.gov/newsroom/entry/letter_from_lawrence_h._summers_to_congressional_leaders/

As the Obama Administration carries out the Emergency Economic Stabilization Act, our actions will reflect the Act’s original purpose of preventing systemic consequences in the financial and housing markets. The incoming Obama Administration has no intention of using any funds to implement an industrial policy.

azurnoir

(45,850 posts)
17. shows something because Obama was still PoTUS elect when the article was written
Wed Mar 9, 2016, 08:21 PM
Mar 2016

date January 14 2009 -

If the Senate were to pass the resolution, it would almost certainly pass the House — where leading Democrats like Barney Frank are pushing for stringent, spelled-out conditions — and then go to the President's desk for a veto, Democratic sources said. Even if Bush can do the honors before he leaves office, Obama would still have to take office as both chambers attempt overrides of the veto. Such a situation might force Obama to expend some of his political capital on fixing the holdover problem, and it could drain support for what he prefers to be concentrating his time and energy on: a potentially trillion-dollar stimulus bill. That too, of course, is essentially another bailout, but it's directed at Main Street, so the President-elect can count on a little more gratitude from the American public. If he can't spend his entire inaugural week celebrating, that's the least he can expect in return for his efforts.

kennetha

(3,666 posts)
19. right
Wed Mar 9, 2016, 08:22 PM
Mar 2016

that's what Hillary was referring to in the debate. President elect Obama, wrote to the democrats asking them not to block Tarp funds, promising greater transparency, promising to use them to aid main street more this time around.

Sanders say hell no

azurnoir

(45,850 posts)
22. Lol why then do you only claim this now but still no wash any questions ask Michigan
Wed Mar 9, 2016, 08:25 PM
Mar 2016

apparently they weren't impressed either

kennetha

(3,666 posts)
36. Tarp was passed into law in 2008 under Bush and Paulson.
Wed Mar 9, 2016, 08:41 PM
Mar 2016

In October 2008, Congress approved the $700 billion Troubled Asset Relief Program (TARP). The money was intended to assist financial institutions, but it also ended up bailing out the auto industry.

 

Bluenorthwest

(45,319 posts)
27. Lots of Democrats disagreed with the President elect, they are not obliged to do as such persons
Wed Mar 9, 2016, 08:30 PM
Mar 2016

command, not Presidents nor Presidents elect. It's sort of sad that you feel that they should do so.

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