Democrats push back

Source: CNN.COM

NEW YORK (CNNMoney.com) -- Democratic leaders on Capitol Hill said on Sunday that the Bush administration's $700 billion proposal to bail out the financial system lacked necessary safeguards for taxpayers and homeowners.

Democrats want the measure to include independent oversight, homeowner protections and limits on executive compensation, House Speaker Nancy Pelosi, D-Calif., said in a statement early Sunday evening.

"We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome," she said.

Pelosi said that Congress will take action on the bailout this week but will act "to insulate Main Street from Wall Street."



Read more: http://money.cnn.com/2008/09/21/news/economy/bailout_proposal_Sunday/index.htm

but there should be NO executive compensation.

it made me want to barf

I don't believe a fucking word out of her mouth. She has rolled over on every single blank check for Bush's agenda. I'm bookmarking this for Tuesday.

HEY PELOSI! What they are doing is TREASON!! DO YOUR FUCKING JOB!

Pelosi will roll. She always does.

I keep wanting to swat the screen, and I'm sitting on the patio!

:evilgrin:

:applause:

The paulson plan is allow him to personally hand out all the money in the US treasury without any review and absolutely no liability on him. The bush admin has been lying to us and stealing from us for 8 years. Just say NO.

Pelosi is safeguarding us?! Unbelievable! What's next? Impeachment? Be still my heart!:sarcasm:

and the timing couldn't be better. 50 some days before a national election.

You damn right those with their names on a ballot are 'listening'...

including Obama.

Guess who was the only person to even write me back? the Obama campaign. Their email didn't address my specific concern, but when I called, a girl took down my message and asked me for my contact info which I gave her. An hour later, there was an email telling me thanks for the input. I was pretty damn impressed on a Sunday.

The rest of the reps I called all had voice mail on, so I left scathing but polite messages for them that UNDER no circumstances would I buy a business without seeing their books and having voting power (oversight) -- especially when the same people would be in charge who just lost us all of this money. they had best insist on oversight and authority to investigate as well as taking care of investors over CEOS.

I told them all I was very active and would inform everyone I knew about the way they voted on this.

Asshats.

Gobama. he's the only sane person in that hall of fraudulent freaks besides Kucinich and a few other good 'uns.

:eyes:

I have never owned a weapon before, but I think that if there is a sudden spike in gun sales, it might send a message. Besides, we may need them if @$sh decides not to leave office or if the thugs steal another election. We can name ourselves Armed Patriots against the New fascist Order :patriot:

great. :grr: :argh:

:hide:

they handed the * administration a blank check for the war he wanted.

Source: New York Times

The New York Times

September 22, 2008
Democrats Begin to Set Own Bailout Terms
By DAVID M. HERSZENHORN, STEPHEN LABATON and MARK LANDLER

WASHINGTON — Congressional Democrats began to set their own terms on Sunday for a plan to rescue the nation’s financial institutions, including greater legislative oversight of the Treasury Department, more direct assistance for homeowners and limits on the pay of top executives whose firms seek help.

The Democrats’ demands came as Treasury Secretary Henry M. Paulson Jr. blanketed the Sunday talk shows to promote the Bush administration’s $700 billion bailout package, emphasizing that it was needed not just for Wall Street, but for all Americans. He urged Congress to move swiftly to approve a “clean” rescue plan without tacking on extra programs.

“I hate the fact that we have to do it, but it’s better than the alternative,” Mr. Paulson said on “Fox News Sunday.”

The Bush administration proposal could be the largest government bailout of private industry in the nation’s history, and it calls for nearly unfettered powers to the Treasury secretary. There is intense pressure to pass a rescue measure quickly because the markets remain jittery.

Read more: http://www.nytimes.com/2008/09/22/business/22paulson.html?scp=1&sq=Democrats%20Begin%20to%20Set%20Own%20Bailout%20Terms%20&st=cse

no token bs. Hold their feet to the fire. Oversight 6 ways from up.

We gotta know where every penny goes and why.

Unless you were a dimwitted moron buying huge amounts on margin, just sit tight and hold on.

WTF should we bail out asses speculating on margin? And if anyone tells me that includes pension funds I will just scream because there is NO WAY that should be allowed with pension money.

This jackass is trying to terrorize Americans into running to their banks and withdrawing their money. He's a real prince, he is.

off?

Nada. They don't get any assistance. The richest of the rich get a little jittery and ask the government to jump, the government responds with "how high sir?".

Will not one elected representative stand up to this nonsense?

We've all been let down too many times.

SPINES.

They were waiting to spring it on us and demand swift passage without debate -- a "clean" bill -- just like we were fed the Nazi Patriot Act that suddenly appeared as a tome from nowhere right after September 11.

How did that work out last time?

By the way nobody has ever been able to explain to me in non-bureaucratese what exactly a "benchmark" is.

Isn't that when you carve your initials in a bench?

on which you are sleeping.

Write them call them and say listen to Kelvin Phillips, Kruegman, James Gailbreth (son of JFK's financial advisor), Bernie Frank, Senator Sanders, Rep. Kucinich, etc.

...for this massive bailout, is the first red flag indicator of a con.

This is their grand finale fleecing of the taxpayers before the White House changes hands.

The exception is that the bad guys are the ones with no soul in this movie :puke:

And this is bush's last great bank robbery raid of the american treasury and forfeiting it to the ultra rich. This is no chance this is about anything else. Banks have more money than most countries. They have insane rates and they own most of the creditcard companies. They got filthy filthy rich on us and this need for a bail out is a lie.

Better to have an economic crisis than to surrender our democracy to the fascists.

Bring both under strictest regulation, cutting out the privateers who ride on the backs of the economy like lampreys.

It isn't like the US would have to invent something ex nihilo. There are plenty of countries with viable socialized insurance coverage.

Too many corporate democrats work for the criminals on wall street.

They're not trying to fix things, only patch things up enough to keep the good times rolling for those parasites.

Why do you assert that something's stopping me? And from what is it stopping?

Overall, your question sux.

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I think this explains the Wall St problem very well

http://www.youtube.com/watch?v=nsQTXx_bXSc