Dems Playing Games With Bailout Negotiations
While Bruce and I have different styles, we usually agree on the issues of the day. Â Not so with the bailout. Â While I had some problems with the original proposal, now that John McCain got the White House and congressional Democrats to consider some of the House Republicans’ concerns, we could have a deal which will be less bad than the original. Â (I pretty much agree with Larry Kudlow who understands these things much better than I.)
Yet, even now, Democrats are trying to keep a provision providing a “slush fund” for the left-wing group ACORN. Â Shouldn’t any money brought into the Treasury go to pay down the debt incurred for this multi-billion dollar bill? Â Or maybe, if we’re so lucky, to return some to taxpayers?
Don’t the Democrats realize that adding on this bailout to the deficit will only increase the size of the deficit? Â And they still want to fund their pet projects?
And Democrats keep sending in more negotiators than originally agreed upon. Â Seems Charles Schumer just doesn’t want to be left out. Â According to Jennifer Rubin: Treasury Secretary Henry “Paulson actually called [Senate Majority Leader] Reid to ask why there were so many Senate Democrats in there instead of just Dodd and the other 3 principals. Amazingly, Reid told Paulson he couldn’t control them.” Â Schumer and the ethically-challenged Charles Rangel are among the Democrats barging in. Â Seems House members don’t want to be left out either.
 John McCain has played a considerable behind-the-scenes role in helping House Republicans air their concerns and make this proposal more fiscally sound.  For more on his efforts read these two pieces.
I wonder if the media will take note of his efforts — and highlight Reid’s flip-flops, demanding John McCain come to Washington one day, then when the Republican nominee decided to do just that, telling him he wasn’t welcome.
UPDATE: Â Seems they’ve reached a deal. Â Let’s hope there’s no ACORN “slush fund” included. Â Maybe they asked the interlopers to exit the negotiations.
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Don’t the Democrats realize that adding on this bailout to the deficit will only increase the size of the deficit? And they still want to fund their pet projects?
They’ve never cared before, have they?
Amazing it is that the libs stand ready to push us into the abyss and 1) they’re perfectly content with that and 2), no matter what happens, it won’t be their fault.
Well… I never really wanted to retire anyway.
Comment by SoCalRobert — September 27, 2008 @ 11:24 pm - September 27, 2008
That pales in comparison to the votes ACORN can manufacture/steal for them.
It seems every time I turn around Dems are trying to give ACORN more money — much more so than their regular payoffs. That tells me two things
1. Obama is behind it, and
2. They know they are getting their money’s worth
Dems are working very hard to make sure they never lose power ever again. Be afraid, be very afraid.
Comment by American Elephant — September 27, 2008 @ 11:37 pm - September 27, 2008
The Democrats can get away with an amazing amount of sh-t because they know the MSM won’t cover any of it. If the GOP tried to siphon off funds from the bailout to the NRA or the Swiftboat Vets, you can bet the media would be all over that.
Comment by V the K — September 27, 2008 @ 11:53 pm - September 27, 2008
There is no need for this bailout at all. The government can just pass an IRS regulation and say for all of these mortgage back securities they are at zero capital gains and if you buy them and when they sell them no capital gains.
Mark Cuban was on Fox News today and suggested that. I guarantee you there will be a private market for them.
Offer the Mortgage insurance for these securities…..and create tax incentives if you buy them.
and given all that, it can be done without government money to do it.
As Newt Gingrich said, have FHA offer loans to those who need to refinance their mortgages. Even if at lower rate then the going rate and offer 40 to 50 year loans.
there is always a way and with getting together the best economic minds in this country it can be done.
plus, its a liquidity crisis….have the federal reserve offer loans to these companies and open up the market….
I just don’t believe that Paulson and Bush have created a crisis where one didn’t need to be. I mean when even the President of France offers a capitalist solution such as bring the G 7 together and create a liquidity fund with their banking institutions, so funds can be used around the world and create a Bretton Woods conference on finances, solutions can be found.
We do not need Marxist government imposed solutions. That would be unpatriotic.
Stick that in your hat Speaker Pelosi!
Comment by Rocket — September 28, 2008 @ 12:46 am - September 28, 2008
Typical of the MSM, ready to make a big scandal because Sarah Palin got flowers and a spa facial while she was mayor of Wasilla, but completely ignores the 127,000 dollars Barack Obama got from Fanny Mae, the sweetheart mortgages Chris Dodd got from Countrywide, Charlie Rangel’s tax evasion, or Barack Obama getting million dollar earmarks for his wife’s employer, or the millions of taxpayer dollars he got for slumlord Tony Rezko.
This is frakkin’ ridiculous.
Comment by V the K — September 28, 2008 @ 1:31 pm - September 28, 2008
if i’m not mistakn obama got over 6 million total from wall street lobby folks….also i do believe there is a provision under a couple of different names so that ACORN can still get their “funnel cake/icing”…makes me sick to my stomach really…
Comment by left leaning lesbian friend — September 29, 2008 @ 5:27 am - September 29, 2008