SENATE VOTES TO HARM AMERICA --And, to probably little surprise in Washington, the Wall Street bailout bill passed.
The extortion worked. All that some of the banks, the stock market and the credit card companies had to do was . . .
. . . hold up the automobile industry with the implicit threat against the rest of what remains of this country's manufacturing sector . . .
[Note of warning here: This is not the fault of America's automobile workers. The next media personality who tries to manufacture an argument against auto workers (as opposed to oil execs), a ... more »
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Wednesday, October 1
SENATE VOTES TO HARM AMERICA
by
margieburns
on Wed 01 Oct 2008 09:53 PM EDT
IS THE SENATE PREPARING TO DAMAGE AMERICA?
by
margieburns
on Wed 01 Oct 2008 09:27 PM EDT
IS THE SENATE PREPARING TO DAMAGE AMERICA? -- Hard to decipher from coverage by the corporate media outlets, of course, since they are all (even MSNBC) in the tank for the bailout--
but the bailout bill is represented as poised for passage by the U.S. Senate. If so, this will be a sad day for the United States. Money is not everything. Nobody thinks it is. But fiscal probity, like physical safety, is one of the major components in our bulwarks to identity. more »
Sanders Amendment: Make Wall Street Pay for Bailout
by
margieburns
on Wed 01 Oct 2008 03:33 PM EDT
From the office of Sen. Bernie Sanders, who is offering an amendment to the bailout bill being offered in the Senate today:
"Sanders Amendment: Make Wall Street Pay for Bailout -- 10/01/2008
Wednesday, the Senate will debate an amendment by Senator Bernie Sanders (I-Vt.) to impose a surtax on the wealthiest Americans to pay for a $700 billion emergency bailout. “Having mismanaged the economy for eight years while continually insisting that the ‘fundamentals of our economy are strong,’ the Bush administration now wants the middle class of this country to bail out Wall Street,” Sanders said. “Meanwhile the wealthiest people, ... more »
Statement of U.S. Senator Russ Feingold On the Bailout Package
by
margieburns
on Wed 01 Oct 2008 02:39 PM EDT
The light of reason:
"Statement of U.S. Senator Russ Feingold On the Bailout Package September 30, 2008 “Yesterday’s vote on the bailout proposal in the House of Representatives gives Congress an opportunity to address the major flaws in the proposal. We can do so and still act in an expedited manner. “First, the negotiators should offset the cost of the proposed bailout so that taxpayers don't get saddled with it. There are plenty of proposals out there that can be considered, including asking Wall Street to bear at least some of the cost. Second, negotiators should add meaningful provisions ... more »
SENATE BAILOUT BILL KEEPS GETTING MORE AWFUL
by
margieburns
on Wed 01 Oct 2008 02:25 PM EDT
SENATE BAILOUT BILL KEEPS GETTING MORE AWFUL --Rules or no rules, the Senate is apparently bound and determined to sneak/ramrod the Bush bailout bill through.
Not only is the Senate . . . 1) Voting on the bill tonight (not "this evening," as friendly media outlets put it); 2) Attaching the bill to legislation bearing the name of the late Paul Wellstone; 3) Tacking the bailout on to legislation correcting the Alternate Minimum Tax for millions of middle-class families; 4) Incorporating into the bailout a common-sense provision raising the cap on bank deposits protected by the FDIC to $250,000; 5) ... more »
Procter & Gamble CEO Wants to See Bush Banker Bailout Passed
by
margieburns
on Wed 01 Oct 2008 02:09 PM EDT
This message passed along from AdAge. Not surprising, perhaps, but somewhat telling. A quick look at Procter & Gamble's SEC filings would suggest that its CEO has ample resources to bridge his local suppliers' liquidity needs out of his own pocket, btw:
"P&G CEO Urges Action on Financial Crisis Lafley Pens Op-Ed, Says Suppliers, Consumers Are Struggling Oct. 1, 2008 BATAVIA, Ohio (AdAge.com) -- Procter & Gamble Co. Chairman-CEO A.G. Lafley today urged congressional passage of a financial rescue plan in an op-ed in the Cincinnati Enquirer, noting that some Procter & Gamble Co. suppliers are "having great difficulty attaining ... more »
FROM IMPEACHBUSH.ORG
by
margieburns
on Wed 01 Oct 2008 02:03 PM EDT
PASSED ALONG FROM ImpeachBush.org: "Call the Senate Today
WASHINGTON POST USES YALE PROFS TO MAKE MY POINT
by
margieburns
on Wed 01 Oct 2008 01:58 PM EDT
WASHINGTON POST USES YALE PROFS TO MAKE MY POINT --Tagging along behind me, the WashPost yesterday roped in two Yale professors to make a point I have been making for the last 2-3 days: If you want to get something of real value in a bailout related to housing, you might consider paying off those problematic mortgages--rather than rewarding the duplicitous issuers of mortgage-backed derivatives.
The WP article, by Jonathan Koppell and William Goetzmann, is linked here. Hah. more »
LINKS TO THE BAILOUT PROPOSAL--SENATE TEXT
by
margieburns
on Wed 01 Oct 2008 01:38 PM EDT
LINKS TO THE BAILOUT PROPOSAL--SENATE TEXT --It is difficult to find the actual text of the bailout bill being considered by the Senate (to be voted on tonight) online.
Linked here is the bill that senators propose to use as the vehicle for the defeated House bill. It is posted on the web site of the Senate Finance Committee. http://finance.senate.gov/sitepages/legislation.htm They are using the well respected name of the late Paul Wellstone, too--a senator who would surely have opposed this legislation with everything he had. But then a group of senators who would reward fraud sellers who cheated desperate home ... more »
SOME BETTER IDEAS ON HOW TO SHORE UP HOUSING, LENDING
by
margieburns
on Wed 01 Oct 2008 12:58 PM EDT
SOME BETTER IDEAS ON HOW TO SHORE UP HOUSING, LENDING are floating around in Washington and elsewhere. A quick round-up of recommendations includes the following:
- Some Democrats in the House are presenting an alternative 'no bailouts act' to Congress. The 'No Bailouts Act,' introduced by Rep. Peter DeFazio (D-Ore.), would address liquidity problems through existing regulations and other means, without compelling a gift package from the taxpayers. - Democratic donor and prominent financier George Soros opposes the Paulson bailout bill and is floating an alternative proposal to Democratic lawmakers: "Specifically, the liberal philanthropist has proposed that ... more »
WHO WILL WIN THE RACE? - THE SENATE OR THE PUBLIC?
by
margieburns
on Wed 01 Oct 2008 09:50 AM EDT
OUR SENATE IS RACING TO COMPLETE A MISSION IT SHOULD NEVER HAVE TAKEN ON. --Upending its constitutional place as the deliberative body in our bicameral legislature, the Senate is planning to vote tonight--instead of tomorrow--on a massive 'package' that includes the $700 billion in giveaways for financial entities already rejected by the U.S. House.
The senators' reason for taking up this legislation tonight, of course, is simply to outwit and outflank the public. When the House was taking up the bailout, emails and calls overwhelmed the Capitol. The senators know that. Further public demonstrations are being organized for tomorrow. ... more » |
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