I think this economic mess could end up hurting the republicans. Not that they are the ones to blame for it all, and surely Obama doesn't have any answers either, but I can see many Americans being a bit p*****-off at the republican president initiating bailouts of these companies where there CEO's were making megabucks. People are not liking the idea of possibly having tax hikes to help dirt rich CEO's keep their jobs at these bailed out companies. Like I said, Obama doesn't have any good answers either, but I think many Americans are seeing the republicans as the party protecting the wealthy here more than they are the little guy. I hope I am wrong, but if things get worse with the economy from now to election day it could favor Obama.
I don't know, it looks like the dems want to slip a lot of other crap (bailouts for individual homeowners) into the bill, and that probably won't pass. They have to pass some kind of legislature that will probably, in the short term, get the economy going again. However, this is the last thing they want this close to the election. The problem is, if they don't pass anything, the dems in control of congress will have any messes laid at their doorstep. Let's see how Pelosi and the bunch find their way out of this.
__________________
Future DNC Message - From this point, all illegal aliens will be referred to Unregistered Democrats.
They haven't said a word about bailing out individual homeowners and it's getting pretty irritating hearing that rumor. They've talked about restructuring those mortgages to try see if people can get a payment they CAN make and wind up not having to default - at least on the ones where the homeowners haven't already walked away. But I don't think that needs to be in this bill.
They do need to put some anti-golden parachute stuff in there though. It's fine and dandy for shareholders to give away their own money on idiotic multi-million dollar severance packages, but doing that with taxpayer bailout money just doesn't cut it with me.
The one trend that I have noticed is that just about everyone who has both education and real world experience in economics is damn scared of Obama getting elected.[]
__________________
"Shoot him again....his soul is still dancing"
Wait a minute, democrats are "smarter," aren't they? That's what a recent thread claimed. And we all know parents want their kids to go to school to get an education and become smart. Republicans are the dumb people who somehow get"rich," so are the part of therich.
Take away thegolden parachutes, and ANY "bailout" should be made with business people on the gubment end, and anEXPECTATION that taxpayers will make out on the deal after it isall said and done. No bailouts of people with excesscredit card debt and studentloans they didn't repay!
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
RE: I cant stand it any longer.
Here is S.190 that could have prevented this all from happening, but the Democrats killed it. And guess who help Kill it?????? Obama himself.
S.190 - A Bill Which Would Have Prevented The Financial Meltdown [/align][hr]
But was never passed.
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005
Sponsor: Sen. Charles Hagel [R-NE]
Cosponsors [as of 2007-01-08]
Sen. Elizabeth Dole [R-NC]
Sen. John McCain [R-AZ]
Sen. John Sununu [R-NH]
1/26/2005--Introduced.
Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting.
Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation.
Excludes the Federal Home Loan Banks from certain securities reporting requirements.
Abolishes the Federal Housing Finance Board.
[/align]
__________________
kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
I cant stand it any longer.
]
