News and Politics | October 02, 2008 | 29 comments

Bush: Lawmakers 'must listen' vote yes

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Pericles_Lewnes
President Bush said Thursday "a lot of people are watching" to see if Congress will enact the $700 billion financial rescue plan that he called the best chance to restore calm to the financial industry.

As both Democratic and Republican House party leaders worked the offices and halls of congressional office buildings to find enough votes for passage in a floor showdown scheduled for Friday, Bush spoke with more urgency than previously as he lobbied furiously for the measure...

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29 comments // Bush: Lawmakers 'must listen' vote yes

  • krush_productions
  • onechance
  • LILMAMAINGA
    • 0
      LILMAMAINGA  
    • Hey Everyone? My 19 year old grandson just pointed out something to me! No wonder he has made a mess of things with his lies! HE DOESN;T EVEN KNOW HOW TO USE THE PHONE PROPERLY! Go check out the picture. He is holding the receiver upside down! And JUST THINK, they want to give us another four years of the same!

    • 4 years ago
  • TerryA
  • delas78
    • 0
      delas78  
    • I would do the exact OPPOSITE of whatever Bush said!!!!

      That f#%*ing criminal stole our American dream, and gave it to some rich pricks!!! How many Americans are losing their homes? And how many houses do THEY have???

      I used to have hope in this country. And now I realize that WE are nothing but a source of revenue for the top 1%.

    • 4 years ago
  • TerryA
    • 0
      TerryA  
    • This is just so much of the same old, same old.

      The American people didn't agree that we could buy our steel products cheaper from overseas, but it happened anyway. When it destroyed the economy of 1/3 of the U.S. States we were told we were resilient and their economy would rebound with a new form of manufacturing. They were wrong!!!

      The American people didn't agree that we would save money by shutting down our domestic oil production and buy our oil from foreign countries, but they did it anyway. They were wrong!!!

      The American people weren't even taken into consideration when the Alaskan Pipeline opened and our oil reserves were sold to Japan and China. They were wrong!!!
      The American people didn't agree when we were told that shipping our tech jobs overseas would be good for our economy. With tax credit incentives to the companies willing to do this, it happened anyway. Again they were wrong!!!!

      The American people know, This is wrong!!! but it will happen anyway.

    • 4 years ago
  • pakazak
  • Pericles_Lewnes
  • synclaire
    • 0
      synclaire  
    • Once again Chicken Little is crying " the sky if falling!"
      I was watching NBC news last night and there was a scare piece on how cities were in danger because their budgets would be cut and that the police and fire department would not be there and all this other bs. The corporate media has fallen inline once again to screw the populous.

    • 4 years ago
  • pakazak
    • 0
      pakazak  
    • and Paul Krugman can't make up his mind either.
      he accuses anyone against the bailout of being a crazy and vacillates in his support.
      we're all so worried about the damn markets and credit. bet the SOB's that caused it all aren't worried about it.
      as it stands, we appear to be eager to slap some duct tape on it and call it fixed.
      no thanks.

    • 4 years ago
  • jonny2times
    • 0
      jonny2times  
    • bush, you get this passed, and im moving to canada. i had nothing bad to say about you for a long time aside from the fact that you think english grammar is a unit for measuring weight. theres 493mil americans, $700Bil. thats $1419.88, per person (men, women, children), and im not paying it dumass, f*ck you.

    • 4 years ago
  • iloveravi
  • SDLN
    • 0
      SDLN  
    • Bush calls his plan "the best chance to restore calm to the financial industry."

      That actually implies there are OTHER ways in which this problem can be handled! Oops. He said too much. ;)

    • 4 years ago
  • Stradius
  • SDLN
    • 0
      SDLN  
    • Image
    • "Only 113 pages of the 451 page bill before the Senate last night deal with the bail-out itself. The remainder are dedicated to 'energy improvement' and 'tax extenders', two rubrics under which a multitude of tax proposals are discussed.

      Indeed the bill itself is officially a tax bill, so that the Senate, rather than the House, which has the prerogative on spending legislation, can first vote on it.

      The bill is titled a resolution to 'amend section 712 employee retirement income security act of 1974' and other, still more obscure pieces of US legislation. But in its very last provision, it changes the title of the legislation."

    • 4 years ago
  • khromadjo
    • 0
      khromadjo  
    • 'Lawmakers must listen...' Yeah, listen to the American people, who see this for what it is--Sheriff Nottingham stealing back from the poor to fund the rich.

      Another example of Emperor Bush acting contrary to the will of the populace.

    • 4 years ago
  • pakazak
    • 0
      pakazak  
    • khromadjo:

      begging your fucking pardon, but, in the future, keep your opinions of what i post limited to what the fuck i say not how i happen to say it.
      did you also bitch to the person who posted the krugman piece? how about when current repeats the same stories more that twice?
      don't be a douchebag.

    • 4 years ago
  • onechance
  • FRED4JUSTICE
    • 0
      FRED4JUSTICE  
    • The bail-out boondoggle is based on an upside down view of the problem that puts the cart before the horse. The key to understanding the economic problem and solution is that the real estate market tanked, and that is why the loans are upside down, or not worth face value, not the other way around. Say in 2005 a house price was $250,000, and lots of folks rushed to get a $200,000 or $250,000 loan, because the rates were low, the economy, jobs, income was booming, lots of upward mobility, and prices were rising, as they always had in real estate, so it seemed like a good bet... then the FED got scared about inflation, so raised the rates ... every month for about a year and a half, until the real estate market screached to a halt, then hack politicians like Schumer spent a year or so scapegoating and threatening lenders using a few examples of ignorant borrowers swindled by mortgage hucksters., a story older than used car salesmen and crooked lawyers. But this go around. the banks became the bad-guys for lending money, especiially when wallstreet speculators wanted the casino to refund thier lost bets, so what did Banks do? the Banks stopped lending, .... this is what caused the real estate market to really melt down, no money, no buyers. .turning home mortgages from the safest investment in the world to toxic waste. so now the $250,000 house is now worth $100,000 and the homeowner/borrower is begging the bank to take it back, so they can buy the same house next door and cut thier mortgage payments in half, which they must do because thier jobs and incomes have also fallen. On top of all this other housing expenses - taxes, utlities, and homeowner insurance spiked over the same time frame, exactly when household incomes and wealth/equity were dropping. Home equity is the main form of household wealth, so america is now poorer, thus spending less, while burnded by higher housing and gas costs, with little disposible income left over, this is spiraling down demand, employment and incomes - this is the key to our sluggish economy.

      The FED tried too little too late to get the banks to lend by giving them a really low discount rate, below 2%, but the banks instead borrow billions and speculate on wallstreet, just as other wallstreet invstors migrated out of mortgage back securities to driving up the price of commodities, like Oil futures, causing gas prices and inflation to rise.

      The answer to this problem is very simple. Instead of bailing out Goldman Sacs executives, and thier kind, fund FHA to refinance homeowners at very low rates, similar to the 2% the banks already borrow at. This costs little, because the fed is already lending banks bazillions at these low rates, but the discount window 'tool' is futile if banks do not in turn lend as intended. We can eliminate the middle men and go directly to FHA mortgage loans and fix the problem. Allow homeowners to refi at the short sale value of thier home so they can keep thier home instead of buying the house next door, this will give banks the liquidity while passing on bad loans, as new loans will be created based on current market and credit conditions. The effect will be to reduce the mortgage and housing costs of the middle class under the FHA umbrella. This will restore household incomes, the housing market, home equity, wealth, and employment to the middle class..

    • 4 years ago
  • khromadjo
  • current89
    • 0
      current89  
    • Image
    • I'm a progressive democrat, I'm not a big fan of the bill in fact i loathe it, however it's a necessary evil. Paul Krugman of the NY Times has a good article about the bill.

    • 4 years ago
  • WhiteNoise
  • wanamoka
    • 0
      wanamoka  
    • WhiteNoise:

      Now that's something Obama needs to bring up in the next debate. Bush lied 900 times, and McCain voted with Bush 95% of the time which means that McCain backed the Bush lies 855 times!

    • 4 years ago
  • LILMAMAINGA
    • 0
      LILMAMAINGA  
    • From the way he looks in the picture, he missed his $1000 haircut this morning! Oh well. He is the son from H----- and already put a permanent black mark on the name his father gave him. He will certainly fit the description in the history books as the most disliked president in America. Too bad such a well liked couple as his parents have to bear the brunt of his shame!

    • 4 years ago
  • Vierotchka
  • Vierotchka
  • pakazak
    • 0
      pakazak  
    • this is absurd. a quote from the article:
      "The rescue package would let the government spend billions of dollars to buy bad mortgage-related securities and other devalued assets held by troubled financial institutions. If successful, advocates say, that would allow frozen credit to begin flowing again and prevent a serious recession."
      am i the on;y one who sees this as extortion?
      give us the money or no one gets credit and we have a recession.
      bastards.
      i still say vote "NO"

      and whatever happened to the "We don't negotiate with terrorists" president?????????

    • 4 years ago
  • regjoeschmo
    • 0
      regjoeschmo  
    • LOL he looks scared in this picture... I wonder what wil happen when he gets blamed by these companies for not being able to follow through with the money he promised them??? Our government is a racket... Enough moneies change hands it wil lget passed.

    • 4 years ago
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