The Devil Is In The Details
Here are some of the elements of the proposed bailout package. However, the politically correct word may be “rescue“, which sounds better than “bailout”.
- The proposed legislation would disburse the $700 billion in stages. The first $250 billion would be issued when the legislation is enacted while another $100 billion could be spent if the president decided it was needed. The remaining $350 billion would be subject to congressional review, said a statement issues from [House Speaker Nancy] Pelosi’s office early Sunday morning.
- To further protect taxpayers, institutions selling assets under the plan would issue stock warrants giving “taxpayers an ownership stake and profit-making opportunities with participating companies.”
- The plan also would let the government buy troubled assets from pension plans, local governments and small banks.
- …no executives at participating companies could get multi-million-dollar severance pay — known as golden parachutes — while CEO pay that encourages excessive risk-taking would be limited.
- An oversight board of top officials, including the Federal Reserve chairman, would supervise the program, while its management also would be under close scrutiny by Congress’ investigative arm and an independent inspector general.
- …the government could use its power as the owner of mortgages and mortgage-backed securities to help more struggling homeowners modify the terms of their home loans.
What’s going to be interesting will be the jockeying for position as each political party tries to take the most credit for the deal. Republicans are going to try to prove that McCain was the white knight who, by riding into DC at sundown, saved the day. In the end, it will be shared credit–or blame.
In the end, House Republicans won support for a provision that would create a privately funded insurance program for mortgage-backed securities, congressional aides said.
Democrats jettisoned proposals that would have put money into a trust fund for affordable housing and would have allowed judges to alter the terms of mortgages for bankrupt borrowers, according to aides.
Did the American people, or should I say peasants or common folk, weigh in on this whole bail out thing? Who was for it? None that I have spoken to. Our children’s, children, children will be paying for this screw up!
Kevin Hazzard
USMC
September 28th, 2008 at 11:58 am
“…no executives at participating companies could get multi-million-dollar severance pay — known as golden parachutes — while CEO pay that encourages excessive risk-taking would be limited. ”
i like this one Alan…
oh well…
damn, how messed up is this country because of the last 8 years?
geezzz
George W. Bush called this bill:
‘in 2 months, america aint my problem anymore!’
hehe
September 28th, 2008 at 11:59 am
Why didn’t the Gov. just buy all the default mortgages,this would put a large sum directly into the economy,it wouldn’t cost 700 billion either.No wall street and our Gov. sold so much of our dept. across the globe they have to save their face in the global economy.Rob peter to pay Paul,the taxpayer and voters get hood winked again…
September 28th, 2008 at 12:34 pm
AND THE TAXPAYERS STILL GET IT IN THE {END} !
September 28th, 2008 at 12:50 pm
Kevin: The Democrats are in panic mode, they’re hoping this whole thing doesn’t crash out , they know they’re responsible for this entire problem.. and are doing whatever they can so that a groundswell doesn’t develop that comes looking for their head.
Being Democrats they can’t help themselves from even loading uip this bill with their pet projects.. which tahnkfully the House GOP have got them to agree to give up..
The Far Left has a death grip on the once great Democratic Party. The Far Left hates America, Capitalism and Christianity.
If the traditional Democrats dont win their party back then the future is pretty bleak.. there will eventually have to be a military action to remove the Far Left from their places of power but by then it will be too late to have salvaged what they will have destroyed.
The Far Left is a malignant hateful force in this country in control of the education of the youth.. things will keep getting worse.
As Lenin said “The Worse, the Better”
September 28th, 2008 at 12:51 pm
“The Far Left hates America, Capitalism and Christianity.”
The radical right doesn’t even know what those words mean, with the possible except of “capitalism,” as they’re such experts on greed.
September 28th, 2008 at 2:17 pm
“The radical right doesn’t even know what those words mean, with the possible except of “capitalism,” as they’re such experts on greed.
Posted by Rocky the Liberal Rottweiler
September 28th, 2008 at 2:17 pm”
Try answering the question.
Making fun of 1o Ron Paul worshippers doesn’t get the much more larger Far Left off the hook.
September 28th, 2008 at 3:09 pm
Ya,well the left is good at unAmerican things, like taxing the public to death. Managing every aspect of FREE peoples lives.Creating a propaganda machine [THE DRIVE BY SLANTED MEDIA} ! Fighting to remove GOD from the public square. Running an inexperienced man with ties to terrorists,and [rev. wright] for President????
I WANT TO SEE MR> OBAMA GO INTO PAKISTAN AND {FIND} BIN LADEN !! LOLLLLLLLLLLLLLLLLLL. [they probably already have lunchens together]!
September 28th, 2008 at 3:46 pm
Sorry the type-o,with the dept. I misspelled debt.Dumb Ass,The borrow will always be a servant to the lender..that’s in Proverbs.Jerry.. I Love the American Dream,Capitalism, make all the money you can while you can.Honest Money,I was talking to real estate agent in a Sub-Division in 2005.I’m a former Construction worker I Said these folk’s are living the American dream… He said “Are you kidding me most of these folk’s haven’t even paid 5 per cent of their mortgage”Now if he fore seen this and passed it along to me, why didn’t anybody see this coming soon…
September 28th, 2008 at 4:04 pm
You are going to turn over our national security to a guy with wm. ayers, and rev. wright in his inner [circle] ?
I”LL PASS !!! IT should have been Hillary !!
The war debt, the bailout, and national health care???
It WILL break Amerika !
September 28th, 2008 at 4:45 pm
Do any of you left wing nitwits realize our federal government believes they’re above the laws of our Constitution? They’ve excluded themselves through ‘Emminent Domain’ and can aquire anything they please, including Wall Street.
September 28th, 2008 at 6:16 pm
The Conservative,
“Above the laws of our Constitution?”
Bush/Cheney say, “what constitution, we don’t need no stinkin constitution!”
Are you talking about Bush/Cheney and the torture, rendition, the lying, the spying and the using the justice department for political purposes, And, not responding to subpoenas?
September 28th, 2008 at 6:23 pm
All of you loonies, and your children, bend over and enjoy the anal penetration you’re paying for. You’ve been numb from it for years anyway.
September 28th, 2008 at 6:27 pm
I agree,but this is only reason I’m sceptical of Obama,If you want to play the guilty by association game. G.W Bush could be guilty of association with the Bin Laden family,Ken Lay, ECT.ECT…If John McCain won the Republican ticket in 200O, we would all be better off today.Hmmmm…We may soon see…
September 28th, 2008 at 6:29 pm
The conservative makes a good point! Seriously! Take a look!:
Do any of you left wing nitwits realize our federal government believes they’re above the laws of our Constitution? They’ve excluded themselves through ‘Emminent Domain’ and can aquire anything they please, including Wall Street.
Well the name calling is gratuitous, and I don’t know that people on the left are the only ones not paying enough attention to the abuses of Immanent Domain, but yea, it really is bad news.
I think the stuff they want to buy on wall street is stuff people WANT to sell, as opposed to Immanent Domain cases – but since we established a few minutes ago in the ‘first debate’ thread that you don’t even like people buying things:
http://www.alan.com/2008/09/26/open-thread-the-first-debate/#comment-47635
I guess I can understand that you don’t like the government buying things either. Heck, you probably don’t even like it when the government buys tanks and missiles and such.
September 28th, 2008 at 6:32 pm
The Conservative comes out in favor of child sex abuse:
All of you loonies, and your children, bend over and enjoy the anal penetration you’re paying for.
You have really come unhinged. You might want to step away from the keyboard until you calm down enough to at least cease from encouraging pedophilia.
September 28th, 2008 at 6:39 pm
UM CARA,
There’s a difference between the free market of the people, and the military entities of government, stupid.
September 28th, 2008 at 6:51 pm
The Conservative,
So you don’t want the free market of the people buying stuff like shoes, and you don’t want the government buying stuff unless it is it’s military entities.
So, basically The Conservative’s economic philosophy is just the military should buy stuff.
Damn, it’s going to take a long time to turn this economy around then. Good thing that the fundamentals are strong, or I would be worried.
September 28th, 2008 at 6:55 pm
UM CARA,
I’m sure some sick twisted liberal freak such as yourself will one day try to pass a ‘lifestyle’ bill proposing it’s legalization. Then you and your kids can become the family you’ve always wanted.
September 28th, 2008 at 7:00 pm
The Conservative isn’t a very nice person:
I’m sure some sick twisted liberal freak such as yourself
Last week you were talking about watching gay porn with children, and today you propose anal sex with children. And you think I am sick and twisted?
I sincerely hope you do not have any children, or have access to them. You should seek psychiatric care. If you have acted on any of these fantasies of yours, you should immediately turn yourself into the authorities.
September 28th, 2008 at 7:11 pm
The Conservative,
What if YOUR side are the sick twisted ones?
This is half of the list of Republican sex offenders:
– Republican Neal Horsely, militant anti-abortionist from Carrollton, Georgia, who admitted on Fox Radio News that he’d had sex with animals.
– Republican Keola Childs, former Hawaii County councilman. Pleaded guilty to molesting a male child.
– Republican John Butler, former Cass County GOP chairman in Illinois. Charged with criminal sexual assault on a teenage girl.
– Republican Richard Gardner, former Nevada Republican Assembly candidate. Admitted to molesting his two daughters.
– Republican Jack W. Gardner, former councilman in Millersville, Pennsylvania. Convicted of molesting a 13-year-old girl.
– Republican Steve Aiken, former campaign worker in Arizona and self-proclaimed reverend. Convicted of having sex with two underage girls.
– Republican Merrill Robert Barter, former county commissioner in Boothbay, Maine. Pleaded guilty to unlawful sexual contact and assault on a teenage boy.
– Republican Fred C. Smeltzer Jr., former city councilman in Wrightsville, Delaware. Pleaded no contest to raping a 15-year-old girl and served six months in prison.
– Republican Parker J. Bena, former Virginia GOP activist. Pleaded guilty to possession of child porn on his home computer and was sentenced to 30 months in federal prison and fined $18,000.
– Republican Larry Jack Schwarz, former parole board officer and former Colorado state representative. Fired after child pornography was found in his possession.
– Republican Robin Vanderwall, former Virginia GOP strategist. Convicted on five counts of soliciting sex from boys and girls over the Internet.
.
– Republican Judge Ronald C. Kline was placed under house arrest for child molestation and possession of child pornography.
– Preacher Stephen White, who demanded a return to traditional values, was sentenced to jail after offering $20 to a 14-year-old boy for permission to perform oral sex on him.
– Republican talk show host Jon Matthews pleaded guilty to exposing his genitals to an 11 year old girl.
– Republican anti-gay activist Earl “Butch” Kimmerling was sentenced to 40 years in prison for molesting an 8-year old girl after he attempted to stop a gay couple from adopting her.
– Republican Party leader Paul Ingram pleaded guilty to six counts of raping his daughters and served 14 years in federal prison.
– Republican election board official Kevin Coan was sentenced to two years probation for soliciting sex over the internet from a 14-year old girl.
– Republican Tennessee State Representative, Keith Westmoreland was arrested on seven felony counts of lewd and lascivious exhibition to girls under the age of 16 (i.e. exposing himself to children).
– Republican anti-abortion activist John Allen Burt was found guilty of molesting a 15-year old girl at the home for troubled girls that he ran.
– Republican County Councilman Keola Childs pleaded guilty to molesting a male child.
– Republican candidate Richard Gardner,a Nevada State Representative, admitted to molesting his two daughters.
– Republican Councilman and former Marine Jack W. Gardner had been convicted of molesting a 13-year old girl. when the Republican Party, knowing of these crimes, put him on the ballot.
– Republican County Commissioner Merrill Robert Barter pleaded guilty to unlawful sexual contact and assault on a teenage boy.
– Republican City Councilman Fred C. Smeltzer, Jr. pleaded no contest to raping a 15 year-old girl and served 6-months in prison. Republican activist Parker J. Bena pleaded guilty to possession of child pornography on his home computer and was sentenced to 30 months in federal prison and fined $18,000.
– Republican parole board officer and former Colorado state representative, Larry Jack Schwarz, was fired after child pornography was found in his possession. With his political career over, he went to work in the hard-core pornography industry for Platinum X Pictures, owned by his daughter, porn starlet Jewel De’Nyle (Stephany Schwarz).
– Republican strategist and Citadel Military College graduate Robin Vanderwall, director of Faith & Family Alliance, (a Christian Coalition spin off), former student of Pat Robertson’s Regent University, member of Ralph Reed’s inner circle who funneled money to from lobbyist Jack Abramoff to Reed, was convicted in Virginia on five counts of soliciting sex from boys and girls over the internet.
– Republican city councilman Mark Harris, who is described as a “good military man” and “church goer,” was convicted of repeatedly having sex with an 11-year-old girl and sentenced to 12 years in prison.
– Republican businessman Jon Grunseth withdrew his candidacy for Minnesota governor after allegations surfaced that he went swimming in the nude with four underage girls, including his daughter.
– Republican director of the “Young Republican Federation” Nicholas Elizondo molested his 6-year old daughter and was sentenced to six years in prison.
– Republican president of the New York City Housing Development Corp. Russell Harding pleaded guilty to possessing child pornography on his computer.
– Republican benefactor of conservative Christian groups, Richard A. Dasen Sr., 62, who is married with grown children and several grandchildren, allegedly told police that over the past decade he paid more than $1 million to have sex with a large number of young women. He was found guilty of raping a 15-year old girl, and his sentences added up to 126 years in prison.
– Republican Party leader Bobby Stumbo of Denton County, Kentucky, age 62 was arrested for having sex with a 5-year old boy.
– Republican teacher and former city councilman John Collins of Asbury Park, New Jersey plead guilty to sexually molesting 13 and 14 year old girls.
– Republican Mayor John Gosek of Oswego, New York was arrested on charges of soliciting sex from two 15-year old girls.
–Republican Spokane Mayor James West who was at the center of a sex ring involving the mayor’s office, the police and the Boy Scouts to cover up the molestation of Boy Scouts by Repbulican troop leaders in Spokane for a period of 20 years. West died before charges could be brought against him.
– Republican human resources director for the Washington Times, Randall Casseday (a propaganda rag for the Moonies). Arrested for soliciting sex from a 13-year-old girl on the Internet.
– Republican Lou Beres, former chairman of the Oregon Christian Coalition. Confessed to molesting a 13-year-old girl.
–Republican Larry Dale Floyd, former County Constable, Denton County, Texas. Arrested on suspicion of soliciting sex with an eight-year-old girl.
– Republican Mark Pazuhanich, former District Attorney and judge-elect in Monroe County, Pennsylvania. Pleaded no contest to fondling a ten-year-old girl in public; sentenced to ten years probation.
– Republican Bobby Stumbo, former Party leader in Floyd County, Kentucky. Arrested for having sex with a five-year-old boy.
– Republican Tom Randall, former petition-drive manager. Pleaded guilty to molesting two girls under 14, including the daughter of an associate in the petition business.
Republican Armando Tebano, former County Chairman in Schenectady, New York. Arrested for sexually molesting a 14-year-old girl.
– Republican John Collins, teacher and former city councilman in Asbury Park, New Jersey. Pleaded guilty to sexually molesting 13- and 14-year-old girls. Mark Seidensticker, former campaign worker in Concord, Maine. Convicted child molester.
– Republican Philip Giordano, former mayor of Waterbury, Connecticut. Serving a 37-year sentence in federal prison for sexually abusing eight- and ten-year-old girls.
– Republican Tom Adams, former mayor of Green Oaks, Illinois. Arrested for distributing child pornography over the Internet.
– Republican John Gosek, former mayor of Oswego, New York. Arrested on charges of soliciting sex from two 15-year-old girls.
– Republican David Swartz, former County Commissioner of Richland, Ohio. Pleaded guilty to molesting two girls under the age of 11; sentenced to eight years in prison.
– Republican Edison Misla Aldarondo, former Speaker of House of Representatives, Puerto Rico (U.S. territory). Sentenced to ten years in prison for raping his daughter between the ages of 9 and 17.
– Republican John R. Curtain, former State Committeeman in Pennsylvania. Charged with molesting a teenage boy and unlawful sexual contact with a minor.
– Republican Dennis L. Rader, zoning supervisor, Boy Scout leader and Lutheran Church president in Wichita, Kansas. Pleaded guilty to ten killings and performing a sexual act on an 11-year-old girl he murdered; confessed to being BTK serial killer.
– Republican Nicholas Morency, anti-abortion activist in Camden, New Jersey. Pleaded guilty to possessing child pornography on his computer and offering a bounty to anybody who murders an abortion doctor.
– Republican Tom Shortridge, campaign consultant in Southern California. Sentenced to three years probation for taking nude photos of a 15-year-old girl.
– Republican Mike Hintz, former youth pastor in Des Moines, Iowa, commended by George W. Bush during the 2004 Presidential campaign. Surrendered to police after admitting to a sexual affair with a female juvenile.
– Republican Peter Dibble, former First Selectman (local legislator) in Stonington, Connecticut. Pleaded no contest to having an inappropriate relationship with a 13-year-old girl.
– Republican Carey Lee Cramer, GOP advertising consultant. Sentenced to six years in prison for molesting his nine-year-old stepdaughter (who appeared in an anti-Gore television commercial) and another young girl.
– Republican Craig J. Spence, Capitol Hill lobbyist. Allegedly co-organized (with Washington activist Lawrence E. King Jr.) child sex parties for White House insiders during the 1980s.
– Republican Donald “Buz” Lukens, former U.S. Representative from Ohio. Found guilty of having sex with a female minor and sentenced to one month in jail.
– Republican Richard A. Delgaudio, former GOP fundraiser from Virginia. Found guilty of child porn charges and paying two teenage girls to pose for sexual photos.
– Republican Mark A. Grethen, former Colorado GOP activist and prospective recipient of the “Republican of the Year” award. Convicted on six counts of sex crimes involving children.
– Republican Randal David Ankeney, former Colorado GOP activist and campaign chairman. Pleaded guilty to attempted sexual assault on a child; arrested five years later on the same charge.
– Republican Dan Crane, former U.S. Representative from Illinois. Had sex with a female minor working as a Congressional page.
– Republican Beverly Russell, South Carolina activist and Christian Coalition leader. Admitted to an incestuous relationship with his stepdaughter.
– Republican Keith Westmoreland, former Florida State Representative. Arrested on seven felony counts of lewd and lascivious exhibition to girls under the age of 16.
– Republican Ronald C. Kline, Superior Court Judge in California’s Orange County. Placed under house arrest for child molestation and possession of child pornography.
– Republican Robert Bauman, former U.S. Representative and anti-gay activist from Maryland. Charged with having sex with a 16-year-old boy he picked up at a gay bar.
– Republican Jeffrey Patti, local committee chairman from Sparta, New Jersey. Arrested for distributing a video clip of a five-year-old girl being raped.
– Republican Marty Glickman (a/k/a “Republican Marty”), GOP activist in Florida. Charged with four counts of unlawful sexual activity with an underage girl and one count of delivering LSD.
– Republican Howard L. Brooks, legislative aide in Tehachapi, California. Charged with molesting a 12-year-old boy and possession of child porn.
– Republican John Hathaway, fundraiser and U.S. Senate candidate from Maine. Accused of having sex with a 12-year-old baby-sitter; withdrew his candidacy after the allegations surfaced.
– Republican Craig Stephen White, anti-gay “traditional values” preacher in Pennsylvania. Sentenced to jail after offering $20 to a 14-year-old boy for permission to perform oral sex on him.
– Republican Jon Matthews, former right-wing talk show host in Houston, Texas. Pleaded guilty to exposing his genitals to an 11-year-old girl.
– Republican Earl “Butch” Kimmerling, former anti-gay activist in Indiana. Sentenced to 40 years in prison for molesting an eight-year-old girl after he attempted to stop a gay couple from adopting her.
– Republican Paul Ingram, former head of Thurston County Republican Party in Washington State. Pleaded guilty to six counts of raping his daughters; served 14 years in federal prison.
– Republican Kevin Coan, former GOP elections official in St. Louis, Missouri. Sentenced to two years probation for soliciting sex over the Internet from a 14-year-old girl.
– Republican Andrew Buhr, former GOP committeeman in St. Louis. Charged with two counts of first-degree sodomy with a 13-year-old boy.
– Republican John Allen Burt, former anti-abortion activist in Florida. Found guilty of molesting a 15-year-old girl.
September 28th, 2008 at 7:16 pm
OldLefty,
In fairness I don’t think The Conservative’s obsession with pedophilia is at all related to him being a conservative.
The Conservative is just a sick, sick person.
September 28th, 2008 at 7:29 pm
Um Cara,
I get you , I just think that the reason they are ALWAYS, harping on sexual morality, is because they are afraid of their own selves.
That’s why they always seem to want the government to regulate morality.
Gotta run everybody!
September 28th, 2008 at 7:36 pm
UM CARA,
I see you and Old Lefty would rather discuss some of the perverted sexual lifestyles supported within the liberal realm instead of Commerce. You two go ahead and enjoy yourselves.
September 28th, 2008 at 7:40 pm
The Conservative,
I talked commerce in the other thread, and you never bothered to respond.
You brought up your pedophiliac fantasies, I am merely suggesting that you seek treatment, and if you have acted on them – to turn yourself in. Seriously.
September 28th, 2008 at 7:53 pm
This is fishy. Why the rush? Did they want to do this so hurriedly that we didn’t have time to think? Why the closed door meetings? Why were private investors not given a chance to buy up these toxic mortgages very cheaply? Were our creditors pressuring us? Were conflicts of interest involved? Was it political? And forget about the taxpayers ever “profiting” from this deal.
This is strange. This smells to high heaven.
September 29th, 2008 at 2:33 pm