tagged w/ Rockefeller
WASHINGTON - The House of Representatives seemingly rejected a $700 billion bailout today following extended debate where many members, including some who brokered the deal with it, was highly unpopular.
The preliminary vote was 185-197. Members had a limited amount of time to change their votes. Following the deadline, the margin was growing for those opposed to the measure.
"Many of us feel that the national interest requires us to do something which is, in many ways, unpopular," said Rep. Barney Frank, the Financial Services Committee chairman, before the vote. "It is hard to get political credit for avoiding something that has not yet happened."
The bill was the product of marathon bargaining over the weekend among various House and Senate representatives.
President Bush urged the bill's passage, saying in a White House appearance Monday morning that "every member of Congress and every American should keep in mind that a vote for this bill is a vote to prevent economic damage to you and your community."
"With this strong and decisive legislation," he said, "we will help restart the flow of credit so American families can meet their daily needs and American businesses can make purchases, ship goods and meet their payrolls."
As debate opened, Frank, D-Mass., called the measure "a tough vote," but a necessary one to stave off a financial meltdown. It lets the government buy sour assets — mostly mortgage-backed securities — from struggling financial institutions in a bid to clear out clogged avenues of credit for businesses and individuals alike.
At the White House, spokesman Tony Fratto confirmed vigorous efforts to get the bill through.
"We're going to keep working with them right up until the vote," he said.
Fratto also said that Bush, Vice President Dick Cheney, Treasury Secretary Paulson, White House chief of staff Josh Bolten and other top officials were contacting House members in an effort to rally support, and that the president himself had call list of "a couple dozen members."
Fratto said Bush was telling aides some of those he'd talked to were committed to voting for the bill while "others remained skeptical."
With their dire warnings of impending economic doom and their sweeping request for unprecedented sums of money and authority to bail out cash-starved financial firms, Bush and his economic chiefs have focused the attention of the world and the markets on Congress, said Republican Rep. Paul Ryan of Wisconsin. Without the bill, Ryan added, "the worst is yet to come."
"We're in this moment, and if we fail to do the right thing, Heaven help us." he said.
As Democratic and Republican leaders hunted for votes, leaning on lawmakers to take a political hit for the good of the country, Ryan said, "We're all worried about losing our jobs. ... Most of us say, 'I want this thing to pass, but I want you to vote for it — not me.' "
Critics on the left and right said Congress was being stampeded into hasty action on a plan that wouldn't make a dent in the nation's economic woes, which have at their root a subprime mortgage meltdown and the bursting of the housing bubble, followed by a wave of foreclosures.
The legislation does not require any federal action to prevent foreclosures, although it mandates that the government try renegotiating the bad mortgages it acquires with the aim of lowering borrowers' monthly payments so they can keep their homes.
"Like the Iraq war and the Patriot Act, this bill is fueled on fear and hinges on haste," said Democratic Rep. Lloyd Doggett, R-Texas.
FOLLOW LINK FOR MORE IN DEPTH STORYWASHINGTON - The House of Representatives seemingly rejected a $700 billion bailout... more
In the wake of Monday’s vote in the US House of Representatives rejecting the $700 billion bailout package for the American financial industry, prominent voices in the US and international media have responded by denouncing the lower house of Congress and complaining that the American political system is too susceptible to popular opinion and insufficiently obedient to the will of the corporate and political elite.
The yearning for more authoritarian forms of rule was expressed by, among others, Michael Gerson, the former chief speechwriter for George W. Bush. In a column in the Washington Post, he complained, “[I]t is now clear that American political elites have lost the ability to quickly respond to a national challenge by imposing their collective will.” The Times of London, part of Rupert Murdoch’s media empire, was even more blunt, headlining a column, “Congress is the Best Advert for Dictatorship.”
Sherman, who voted against the bailout bill on Monday, said, “The one thing that’s been proven is the absolute fear-mongering that’s being used to drive us is false.” He continued, “I’ve seen members turn to each other and say if we don’t pass this bill, we’re going to have martial law in the United States.”
By Tom Eley
Continued at http://www.wsws.org/articles/2008/oct2008/sher-o03.shtml
video from http://www.youtube.com/user/saluki420
hat tip to http://current.com/people/asherp
http://current.com/items/89365870_congress_is_told_the_gov_t_will_impose_martial_law_if_bailout_doesn_t_passIn the wake of Monday’s vote in the US House of Representatives rejecting the... more
That could be the total cost of government bailouts.
Oh, and the Dow finished down 157.47 points to 10,325.38. It’s was up over 10,785 shortly after 1pm today. That’s a more than 400 point drop. It started to fall shortly after the House voted today.
Gee, I thought this bill was supposed to send a message to the markets.That could be the total cost of government bailouts. Oh, and the Dow finished down... more
President Bush signed a $700 billion financial bailout package Friday, shortly after the U.S. House passed the rescue measure, in a vote of 263-171. The action paved the way for the government to start buying up troubled assets from financial institutions caught on the wrong side of record home foreclosures.President Bush signed a $700 billion financial bailout package Friday, shortly after... more
Sarah Palin and Joe Biden face off in the "Don't Mess Up" Bowl, the bailout bill passes, and John McCain's looking to thread the electoral needle.
CAMPAIGN UPDATE knows that election news and weird jokes go together like a popped-collar meathead and a vacant-eyed blonde. Created by Mark Ganek and Brett Erlich, Campaign Update strives to be the dumbest smart show on television.
Bookmark us and check us out every weekday at current.com/campaignupdate.Sarah Palin and Joe Biden face off in the "Don't Mess Up" Bowl, the... more
Lego fanboy and amateur photographer Mike Stimpson found a way to combine his two loves: He recreates scenes from historic photographs using the plastic bricks, then snaps his own photos.
The British videogame programmer first began assembling his Lego duplications in October 2007 as a way to pay homage to his favorite lensers: French street photographer Henri Cartier-Bresson, World War II-era shooter Robert Capa, American landscape photographer Ansel Adams.
Stimpson, 34, has used Lego bricks to duplicate everything from Buzz Aldrin's first steps on the moon to '60s antiwar protesters, but he has yet to produce a plastic version of an Ansel image. "Recreating large sections of Yosemite National Park is a little beyond my skills," he said.
Charles Ebbets' Lunch Atop a Skyscraper served as the inspiration for Stimpson's first Lego duplication. The original was shot during construction of Rockefeller Center in 1932. To stock up for the shoot, Stimpson says he bought more than 30 Lego minifigures to ensure he'd have enough variety to imitate the men in Ebbets' photo.
*This artist has about 9 photos where the link leads you. All portraying specific events done tastefully and pretty exact to the example photo.Lego fanboy and amateur photographer Mike Stimpson found a way to combine his two... more
BOSTON (Reuters) - A man who passed himself off as a member of New York's Rockefeller oil dynasty is really a German who conned his way into U.S. high society, federal investigators said on Friday.
The FBI said "Clark Rockefeller," who is in custody in Boston on charges of kidnapping his daughter, is Christian Karl Gerhartsreiter.
He also used the aliases Christopher Chichester, Christopher Crowe and Charles Smith, and is being sought for questioning in the suspected murder of a California couple.
"Gerhartsreiter is at the center of the longest con I have ever seen in my professional career," Daniel Conley, District Attorney of Boston's Suffolk County, told a joint news conference with FBI agent Warren Bamford.
Gerhartsreiter's identity is emerging after a 12-day international manhunt that ended on August 2 with his arrest on charges of kidnapping his daughter. She had been in the custody of his ex-wife, a high-profile consultant in London.
The FBI said he was born in the former West Germany in 1961 and spent 27 years in the United States under various aliases.BOSTON (Reuters) - A man who passed himself off as a member of New York's... more
he is also linked to something else. this guy is a mess...
A father who is accused of snatching his seven-year-old daughter during a supervised visit to the US is now in custody in Baltimore, the FBI has said.
Clark Rockefeller, 48, was arrested by FBI agents and Baltimore police after a tip-off by a member of the public.
His London-based daughter Reigh Storrow Boss, who went missing on Sunday, was found safe and well in an apartment.
She is to be reunited with her mother Sandra, who said she was "overjoyed" at having her daughter back.
Ms Boss expressed her "deepest gratitude" to everyone involved in the investigation.
Boston Police Deputy Superintendent Tom Lee said: ""I'll tell you, one of the best moments of my police career was getting to personally tell Sandra Boss that we've recovered her daughter and she absolutely collapsed in my arms, I caught her before she hit the ground."
Mr Rockefeller had taken his daughter to an apartment in the Mount Vernon district of Baltimore, Maryland.
The FBI said the apartment was near a marina, where Mr Rockefeller kept his catamaran, and they tricked him into leaving the apartment by saying the boat was taking on water.
Reigh was discovered by police at 1529 local time (0829 BST) on Saturday.
A police spokeswoman said she had been "ecstatic" when rescuers arrived.
"Her first words were that she was very happy to see very nice people," she said.
Mr Rockefeller and his daughter were last seen being dropped off at New York's Grand Central Station on Sunday night.
A father who is accused of snatching his seven-year-old daughter during a supervised... more
Reigh Storrow Boss, 7, has been abducted by her father, Clark Rockefeller, during a visit to the United States and is believed to be on his catamaran heading to the Caribbean or South America.
Reigh moved to London with her mother, Sandra Boss, who works as a City executive, at the end of her parents' ten-year marriage. The girl was snatched on Sunday while visiting her father in Boston, Massachusetts.
Clark Rockefeller, 48, grabbed his daughter and jumped into a waiting car. The social worker who had accompanied the child tried to hold onto the vehicle and was slightly hurt. Mr Rockefeller and Reigh — known as Snooks — were seen that evening at Grand Central Station, New York, in a different car. Boston police issued an arrest warrant for Mr Rockefeller on charges of custodial kidnapping and assault and battery.
Police believe Mr Rockefeller may have planned to escape by sea in a catamaran which he bought recently and kept somewhere in Long Island.
Mr Rockefeller — a mathematician — uses a variety of aliases including J. P. Clark Rockefeller, James Frederick, Clark Mill Rockefeller and Michael Brown, police said. He is a former director of the exclusive Algonquin Club in Boston, but resigned three months ago. He had met his daughter and the social worker at the club on Sunday.
Police sources said the abduction was methodically prepared with the use of multiple vehicles, accomplices and the purchase of the yacht. A woman who drove Mr Rockefeller and Reigh from Boston to New York told police that he had been planning the abduction for half a year and asked her if she wanted to join them on a cruise to Bermuda.
Detectives believe that Mr Rockefeller had given friends different information about his plans — including travelling to Alaska, the Caribbean or Peru — in a deliberate attempt to confuse the police.
Rockefeller is said to have lost custody of his daughter because of concerns that he might attempt an abduction. Ms Boss fought for visits with their daughter to be supervised by a social worker because of concerns about his identity.
Although police had found details of his birth they could not find a valid social security number. Police sources stated he had told his wife that he was a member of the ultra-wealthy Rockefeller oil dynasty, which the Rockefeller Archive Centre denied.
Reigh Storrow Boss, 7, has been abducted by her father, Clark Rockefeller, during a... more
President Bush has "made it clear he will only sign a bill that grants retroactive immunity, and one can imagine that these erstwhile telecom jailbirds are going to be singing like a flock of canaries about those in the administration who induced them to commit these crimes if they can't shake the charges post haste." Hillary and Rockefeller are among others that have benefited from increased donations from these telecoms...President Bush has "made it clear he will only sign a bill that grants... more