Democrat Unhinged Over Bailout, Plus Barry Offers Hot Air
Whoa. Open Left received (supposedly) an email from a Democrat lawmaker, which starts out thusly (note: I’ve edited the bad language)
Paulsen and congressional Republicans, or the few that will actually vote for this (most will be unwilling to take responsibility for the consequences of their policies), have said that there can’t be any “add ons,” or addition provisions. F*** that. I don’t really want to trigger a world wide depression (that’s not hyperbole, that’s a distinct possibility), but I’m not voting for a blank check for $700 billion for those mother f*****s.
Funny how an elected Democrat lawmaker sounds pretty close to either a drunk fan watching his team lose or one of the rabid, insane, moonbats who vote Democrat.
Nancy said she wanted to include the second “stimulus” package that the Bush Administration and congressional Republicans have blocked. I don’t want to trade a $700 billion dollar giveaway to the most unsympathetic human beings on the planet for a few f*****g bridges. I want reforms of the industry, and I want it to be as punitive as possible.
In other words, this elected, unhinged Moonbat, who probably has whined tremendously over the treatment of Islamic jihadi’s, wants to hose all those involved in capitalism, with probably a few hundred government controls thrown in for good measure.
Meanwhile, Barry
In his first comments about a $700 billion government bailout package meant to help stabilize Wall Street, Sen. Barack Obama on Sunday stopped short of saying whether he supports the proposal, as he laid out some broad economic goals he believes such a plan should include.
“As of now, the Bush Administration has only offered a concept with a staggering price tag, not a plan,” Obama said. “Even if the U.S. Treasury recovers some or most of its investments over time, this initial outlay of up to $700 billion is sobering. In return for their support, the American people must be assured that the deal reflects the basic principles of transparency, fairness, and reform.”
Say, Barry, can you tell us the plan that the Democrat led Congress has offered? Since they, in effect, punted the ball to President Bush in a “Do Something, Dubya!” moment. And, how about your plan?
“First, there must be no blank check when American taxpayers are on the hook for this much money,” Obama said. “Second, taxpayers shouldn’t be spending a dime to reward CEOs on Wall Street while they’re going out the door.”
Two words: Franklin Raines.
And, the Maverick responded
“Two days after he confessed to not having a plan for the banking crisis, Barack Obama called for ‘decisive action’ while offering absolutely no new ideas, policies or concrete solutions – it shows he is just not ready to lead. John McCain rejected complacency and political calculation in favor of a direct call for updated, effective regulations that will protect Americans’ homes, savings and jobs – we cannot afford a directionless driver like Barack Obama.
If elected, who does Barry pawn off the tough decisions to? He’ll get all serious and angry looking, and then, “well, er, ah, ya see, um, oh, wait, I’m supposed to make the call? Crap!” For those of you old enough, ‘memba the Steve Martin bit about Carter needing a banjo?
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Posted by William Teach on September 21, 2008 8:43 pm
» Filed Under Economy, Elections, Fiscal Responsibility, Marxism, Nancy Pelosi, News, Obama/Biden, Socialism, Stupidity, Taxes, Unhinged
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3 Responses to “Democrat Unhinged Over Bailout, Plus Barry Offers Hot Air”
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Syndicate Me
That is above my pay grade.
An easy way to notify your Congressman if you do not agree with the Congressional bailout is to send the following petition found at the following website:
financialpetition.org/petition-nobail
The petition reads:
Stop The Bailouts!
We the Undersigned Americans, having seen two 500-point selloffs in the Dow over the last week, witnessing the bankruptcy of Lehman Brothers and the bailouts of AIG, Fannie and Freddie, and seeing over eight hundred billion dollars of new debt being taken on by America that we do not have, demand immediate action of our Congress and Executive.
All the “bailouts” and other similar actions have accomplished is to speed up the economic and market crash; they are now coming not on six month intervals but on one month intervals, and are more severe in each instance.
This ongoing crash in our markets was caused by a refusal to force banks and other institutions to stop lying about their debt – both in the “credit default swap” market and with so-called “Level 3″ assets. As a direct consequence of not being able to determine what a company is actually worth it becomes impossible for their stock to find price support.
In addition, it was the “excess liquidity” of the years from 2001 – 2007, intentionally created by Alan Greenspan and Ben Bernanke, that led to this mess – inappropriate and even fraudulent lending – in the first place. Providing “more liquidity”, which has been Bernanke’s primary strategy since last August, is like giving a drunk a bottle of whiskey as a “treatment”, and is equally indefensible.
If this is not stopped the selling will rotate from financial stock to financial stock until all are zeros. Each will in turn need to be “bailed out”; down this road lies disaster as not only will the stock market crash beyond anything since 1929, but in addition we will take on so much new Federal Debt that it is very likely that foreign governments will refuse to fund our deficits – a threat that China issued, obliquely, through their official State newspaper on the 17th of September.
This is likely to produce a bond market “dislocation” and crash in the economy similar to the 1930s if it is not stopped now. You have been petitioned in the past on these measures but have failed to act; you must now choose between decisive and immediate action and being responsible, in full, for the consequences.
We insist that Congress and Treasury:
Direct Ben Bernanke to “drain the swamp” and shut down the TSLF, PDCF and TAF, returning the “slosh”, or free liquidity, to normal levels. We must take the bottle of whiskey away from the drunk.
Direct The SEC, OTS and OCC to have all financial firms mark to market all assets on their books, bring all off-balance-sheet vehicles back on the balance sheet, and stop hiding assets in “Level 3″ where values are literally made up.
Insist that all “over the counter” derivatives either be moved to an exchange with a central clearing party, thereby enforcing margin limits and providing published open interest figures, or, in the alternative, declared void.
Direct that all firms with a federal guarantee or “backstop” of any sort, including but not limited to investment and commercial banks, be strictly limited to a leverage ratio of 12:1, which is the natural limit for a system with an 8% reserve.
Remove all “game-playing” with reserves in our nation’s banks, including “zero reserve” sweeps and other similar evasions of reserve requirements, as this game-playing is part and parcel of the excessive leverage that created this mess in the first place.
Remove Treasury’s authorization to issue more debt for bailouts or any other purpose without an explicit Congressional authorization for each such action. Hank Paulson said he would not use his “Bazooka”; he lied. In addition he has now announced plans to issue $100 billion of funds for “more slosh” to be provided to The Federal Reserve, yet nowhere has this been authorized by a specific bill in Congress. Per the Constitution, all spending bills must originate in The House.
Remove all regulators involved in willful blindness from office, including the Mr. Lockhart (formerly OFHEO), the OTS, OCC, FDIC and SEC chairs, Treasury Secretary Paulson and Fed Chair Ben Bernanke.. All must be replaced immediately as all have willfully looked the other way for nearly a decade – or more – while this fraudulent credit bubble was being fostered.
These remedies cannot wait for the next Congress; Henry Paulson, Ben Bernanke and the other regulators are increasingly “making it up as they go along”, with the latest instances adding (according to the CBO) $5.3 trillion dollars to the Federal Debt, or a doubling in just one act, plus the additional $800 billion spent on other bailouts and “market stability actions” – all money we do not have.
We VOTE and elections are held November 4th, 2008.
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If you’d like to “sign” this petition, enter your information below and click “SIGN”. This petition will be faxed to President Bush, your members of Congress, and Henry Paulson, Secretary of the Treasury. You may only sign the petition once, and your email address must be valid (the system will email you a confirmation code and instructions.)
I have read the above petition and agree with its contents. The above information is my registered voter address, or, if I am not registered, my legal address, I am qualified to vote, and will so register prior to the next election
I say let them sink into debt and poverty as we all are. Our money now buys NOTHING! A dollar is worth about 5¢ of 1960 dollars.