Then, bush sends his treasury secretary to congress to beg. You would think the republicans would be leading but instead they use it to hold the American people hostage once more to try to get more tax breaks etc…..in other words, the same shit that got us into this mess…..

they got balls, no sense, but they got balls.

>>>>>>>>>>>>>>>>>

Whose pressure? This is from George Bush himself:
“THE PRESIDENT: Thank you, all. Thanks, for coming. Well, thanks for the warm welcome. Thank you for being here today. I appreciate your attendance to this very important conference. You see, we want everybody in America to own their own home. That’s what we want. This is — an ownership society is a compassionate society.
More and more people own their homes in America today. Two-thirds of all Americans own their homes, yet we have a problem here in America because few than half of the Hispanics and half the African Americans own the home. That’s a homeownership gap. It’s a — it’s a gap that we’ve got to work together to close for the good of our country, for the sake of a more hopeful future. We’ve got to work to knock down the barriers that have created a homeownership gap.
I set an ambitious goal. It’s one that I believe we can achieve. It’s a clear goal, that by the end of this decade we’ll increase the number of minority homeowners by at least 5.5 million families. (Applause.)
Some may think that’s a stretch. I don’t think it is. I think it is realistic. I know we’re going to have to work together to achieve it. But when we do our communities will be stronger and so will our economy. Achieving the goal is going to require some good policies out of Washington. And it’s going to require a strong commitment from those of you involved in the housing industry.
Just by showing up at the conference, you show your commitment. And together, together we will work over the next decade to enable millions of our fellow Americans to own a piece of their own property, and that’s their home.”
http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html

Of course Bush was lying from the beginning. Struggling to keep up with a mortgage is not the same as “owning a home”.

http://biz.yahoo.com/prnews/080926/laf527.html?.v=4

In issuing the call, Sheehan pointed out a clear conflict of interest on the part of her opponent, Nancy Pelosi (D-SF), and other members of the Democratic Party leadership pushing the corporate bailout forward. Pelosi is one of more than 50 members of Congress with investments in the companies embroiled in the current financial quagmire.

“My opponent has half a million dollars in stock invested in AIG alone, which is included in this so-called bailout,” said Sheehan. “We need elected officials who will stand up for our interests, not protect their own pockets or the pockets of the very same people who got us into this mess in the first place.”

Get the names of the 95 brave democrats and 133 republicans and publish them across the land as leaders to send back to Washington. Fire the rest by voting the bums out!

I agree 100%

Kucinich was the best in this:

“The $700 bailout bill is being driven by fear not fact. This is too much money, in too short of time, going to too few people, while too many questions remain unanswered. Why aren’t we having hearings…Why aren’t we considering any other alternatives other than giving $700 billion to Wall Street? Why aren’t we passing new laws to stop the speculation which triggered this? Why aren’t we putting up new regulatory structures to protect the investors? Why aren’t we directly helping homeowners with their debt burdens? Why aren’t we helping American families faced with bankruptcy? Isn’t time for fundamental change to our debt-based monetary system so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the US Congress or the Board of Directors of Goldman Sachs?”

Ron Paul has a few good zingers too:

In conclusion, there are three good reasons why Congress should reject this legislation:

c. It is bad economic policy – By refusing to address the monetary system while continuing to place the burdens of the bailout on the dollar, we can be certain that in time, we will be faced with another, more severe crisis when the market figures out that there is no magic government bailout or regulation that can make a fraudulent monetary system work.

Excuse the Hell out of me, you vapid, simple, tit.

And it seems that nationally many of the individual homes in foreclosure are second homes, “upgrades”, and rentals. I don’t recall the source so I won’t quote a figure but I was surprised at how few of the “bad debts” are single family homes. Once again, these must be subtracted from those who made bad decisions based on the data they received.

There are those who wish to pin the collapse on those who just skipped a payment or two to splurge at Walmart and then got caught by food/gas and credit cards but, that’s simply not the truth in many cases.

And blaming irresponsible home buyers is ludicrous when the whole economy has been crumbling since the day Chimpy was elected and our credit rating went down internationally. Claiming such a thing would, in fact, display a profound ignorance of the financial trends and policies in this country over the last four decades or so.

Then one must consider the overall collapse of the economy in the face of the outright denial by our leaders and media. Going to war without a “war economy” bears it’s share of blame plus the government could have taken more proactive steps if it were not so financially strained by Bushco’s policies. One mustn’t forget the effect on the dollar and energy/food prices too.

And as for those relative few who made bad personal decisions, as opposed to being caught by circumstance, many of them would be able to restructure their debt if their bank had made better decisions.

A good ana!ogy would be a bar owner. If one person is served too much and causes an accident? One could find little fault with the owner. Stuff happens. But, if several people a day get into their cars staggering drunk? It’s time to assume the owner is the problem. And if it’s not stopped? It’s time to blame the cop on the beat.

But now that it’s hit the fan, it’s the Democrats fault.

I say, if Bush is going to take the credit, he should also shoulder the blame.

Success has many fathers, but failure is an orphan -as the saying goes.

I’ve seen the Z lady use enough big fancy 5 dollar words to make me seriously doubt your educational pedigree could stand up to hers. Where exactly did you go to school again?

Have the stats about how much fillibustering and threatened fillibustering your side has been doing recently?

im talking about the entirety of the financial mess you twit. im pretty sure trying to get rid of corporate wellfare and stopping massive payouts to big oil would help with the horrendous deficit bush ran up.

your argument basically revolves around “your has bad as me because you didnt try hard enough to stop me”…..once again, perfect republican attempt to shift the blame..

I know it’s complicated but even with your limited education you can read and understand this….I hope.
September 29th, 2008 at 5:40 pm

I understand that you’re incapable of backing up anything you say.

Loser.

BTW the pushing for home loans to people had no business taking them on was a Democrat effort.
September 29th, 2008 at 5:39 pm

Show where the Dems forced the few regulators we had left to fail to do their jobs.

No Wiki links.

awww Tracy did those mean democrats put a gun to the poor lending companies head and force them to make questionable loans?

besides, isnt loosening restrictions on businesses all what you “free market” types are about? or only when republicans do it..

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act
September 29th, 2008 at 5:29 pm

You don’t prove ANYTHING with a Wiki link, moron.