GayPatriot

The Internet home for American gay conservatives.

US HOUSE FAILS TO PASS BAILOUT PACKAGE:
205 YEA, 228 NAY

by

Is today Financial Armageddon?

UPDATE: (Not My) Speaker Pelosi’s incompetence led to failure of bailout vote.

House leaders held open the vote as they tried to sway reluctant lawmakers to support the plan, which was failing 207-226 after the vote clock expired but arm-twisting continued.

Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source.

“Pelosi’s partisan speech has caused our members to go berserk and may cost us any remaining chance to pass the bill,” the source said.

Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the “failed Bush economic policies” of the last eight years.

Wait….remember last week the Democrats didn’t need ANY Republican votes for passage at all.  What happened, Speaker Of Incompetence?

UPDATE: An astounding 40% of Pelosi’s own Democrats voted AGAINST the bill.  This was the Democrats’ bill (before the House Republicans helped improve it).   And all she could get was 60% of Democrats???

INCOMPETENT!

-Bruce (GayPatriot)

Comments

  1. Bring it on! Failure is the fastest way to get over this mess and get better and stronger. This could be the watershed moment when folks finally realize the the gubbement can’t solve all of our problems and that we are going to have to take the good with the bad.

  6. She won’t be smiling unless the electorate affixes the blame properly where it belongs – i.e., on the Democrats who created the whole FM* mess to begin with, and who just blew the recovery deal now with their nasty, destructive partisanship.

  7. (i.e., if this whole thing follows the pattern of the 1930s, then greater socialism is just around the corner – as our lovely crypto-socialist media prescribe more and more socialist poison as the “solution” to the problems caused by our current and previous crypto-socialist policies)

  8. So the GOPers who were going to vote in favor of the bill before Pelosi’s speech presumably thought it was the right thing to do; otherwise they weren’t going to vote yes. But a speech from the Speaker hurt their widdle feelings so they changed their minds? On a bill affecting the largest financial crisis to hit us in decades? One of the most important votes they may cast this year and they changed their minds because someone may have been mean to them in a speech?

    The No votes came from both sides for a host of reasons. not least of which is that many aren’t sure that saving the fatcats who got us into this mess may not be the best way to get us out. But if portraying the House Republicans as easily-frightened children who betray and change their principles because someone bruised their egos with a speech is your read on the situation, then say on, my brother.

  12. Thank God it failed. ILoveCapitalism is right, though: Let’s hope the media doesn’t succeed in convincing people that capitalism needs more handcuffs as a means of correcting things.

  13. The No votes came from both sides for a host of reasons. not least of which is that many aren’t sure that saving the fatcats who got us into this mess may not be the best way to get us out.

    The inanity of the Pelosi supporter is best summed up in that single statement: both she and her Democrat Party insist that this plan is bailing out the fat cats who got us into this mess, but blast Republicans for voting against it.

    In short, Nancy Pelosi and the Democrat Party support bailing out irresponsible fat cats.

  16. Here’s what McCain staff and surrogates were saying before the vote:

    “This bill would not have been agreed to had it not been for John McCain… This is a bipartisan accomplishment, a bipartisan success. And if people want to get something done in Washington, they just watch John McCain. He’s been the guy whose name is at the top of major pieces of legislation for a long time.”
    — Mitt Romney, NBC’s Today show, 9/29/08

    “What Senator McCain was able to do was to help bring all of the parties to the table, including the House Republicans, whose votes were needed to pass this”
    — Steve Schmidt, NBC’s Meet the Press, 9/28/08

    “We’re optimistic that Senator McCain will bring House Republicans on board without driving other parties away, resulting in a successful deal for the American taxpayer.”
    — McCain spokeswoman Kimmie Lipscomb, 9/26/08

    From huffpost. C’mon guys. Admit it. McCain fake-suspended his campaign to go work on this, didn’t really, talked a big game about how he helped close the deal, and then.. .couldn’t. More McCain leadership, I guess.

  17. Yeah, TP. And then what happened next? Pelosi destroyed the bipartisanship. C’mon, admit it. The bipartisanship was there… just as you say. Until Pelosi ruined it.

    As for leadership – just look at these stats:

    Democrats — 140 FOR; 95 AGAINST
    Republicans – 65 FOR; 133 AGAINST

    Even with her vicious, evil partisanship, Pelosi only need to get her Democrat tally up to this:

    Democrats — 152 FOR; 83 AGAINST

    And it would have passed. This is really such a massive failure of Pelosi’s so-called “leadership”.

  20. Nancy Pelosi the most incompetent boob of a Speaker in history, just couldn’t leave well enough alone. Some Republicans would have held their nose and voted for this socialism. But the dumb Nancy Pelosi had to rub their noses in it. When the Republicans know the real crooks in this mess are the likes of Obama, Clinton, Frank, Waters etal. They need to be perp walked across the town square before middle America will support this bail out. More time to debate this is appropriate. Let’s have hours of the old tapes of Barney Frank, Maxine (air head) Waters and their party calling for MORE doc free loans!!!!Let’s have it on the main stream media the Democrats pilloring the regulator who called for MORE regulation of Fannie and Freddie 4 years ago!!!!
    The Republican leadership needs to call for the resignations of those who were asleep at the switch. Even if one or two are Republicans (Sen Roberts) the vast majority (like 30) Congress people were the socialists Democrats. Time for them to be held accountable. Kick em out. They should go home in disgrace with their Fannie and Freddie campaign contributions to live on instead of the salaries we, the people pay them. Kick the damn idiots out! If not, we’ve got 40 days to shout from the highest buildings who the damn perpatratiors of this mess were. 99% Dems. If any were Republicans don’t you know the MSM would have been all over their butts by now. But NO because this is a Dem scandal, “we have to move on, fix the problem, don’t lay blame, “. BS!
    Let’s begin the process of laying blame now.

  21. By the way, the Messiah Barack thought the Dems had the votes for this to pass. Along with dumb dumb Speaker Pelosi. OMG they can’t even count to 218. Steny Hoyer had to really be pissed at Nancy’s remarks in the well of the House.

  22. If I was going to vote “aye” for the bailout and then heard Pelosi’s comments, I would have changed my vote, not because my feelings were hurt but because it would have been clear the Democrats are sharing none of the responsibility for getting us in this mess. The Dems are far from blameless in creating this “crisis” and for Pelosi to pretend that they weren’t is just ridiculous and would deserve a no vote.

  23. Instead of asking why Republicans chose to let Nancy Pelosi’s partisanship derail the bailout, perhaps one should ask why Speaker Granny McBotox found it necessary to inject vitriolic partisanship into a contentious issue to begin with?

  24. Word is even safe Democrats from safe Democrat districts were scared to vote for this bill. When you are getting calls from your district 100-1 against it makes you religious very quickly. Nancy Pelosi, Harry Reid, don’t they give you confidence that all will be well? What a couple of morons.

  25. Imbiciles!

    Incompetents!

    In most countries this would have at-minimum meant the immediate resignations of Pelosi and Ried as House and Senate leaders. In the mean-time I considering coverting ALL my trading and bank accounts into hard cash…and to Hell with the FDIC.

    You might be philosphoically pleased, but I’m F**king scared…for my meager savings and the survivical of my business.

  26. Also, don’t discount the possibility that Democrats tanked this one deliberately. The Obamassiah was down five points in the polls before this economic disaster broke. Now, he’s up eight.

    There is definitely a partisan incentive for Democrats to prolong and exacerbate the crisis.

  27. Ted B., I’m scared sh*tless for my business as well, but frankly I am more afraid of any “solution” that Pelosi and Reid cook up than I am of letting the markets really run their course and correct themselves. I’ve already had one of my lenders. that I haven’t heard from in years, call and ask for interim financial statements. I can deal with that, but I can’t deal with a gubbment fix that is done by members of Congress that frankly don’t know much about finances. I think it is in Pelosi’s comments where Barney Frank is called an “intellectual” and a great and wise contributer to the bailout. Gimme fuggin’ a break…he is a big part of how we got where we are, and any solution he is a part of has to be worse than the problem.

  29. The Democrats don’t vote out their crooks or boobs. Look at Pelosi Maxine Waters and Barbara Boxer all from Cali. All dumb as stumps. It’s why Steny Hoyer never liked Pelosi. He can’t believe he is number two to someone with an IQ of 82. Don’t forget Shela Jackson Lee I think of TX. She’s the one when questioning a guy from NASA about the Mars lander, said “wow, I wonder if you could drive it over to where we left the American flag planted by Neil Armstrong”. These are your Democrat leaders.

  32. One has to wonder why Madam Dumbass Speaker felt compelled to unburden herself right before this vote. Is she really that stupid? Or just wicked?

    If there was truly a committment to fix this, these dullards would get back to work (maybe not possible given the toxic Pelosi/Frank/Reid atmosphere). I don’t know if this bill was good/bad/so-so (I’ve read opinions from people I trust on both sides) but the market crash will occur because of the inability of both sides to get together – just once – to do something that could work.

    I respect Tom Coburn (R-OK) and he said he would support it (without liking it) so my inclination is that “yes” would’ve been the correct vote.

    I honest-to-God believe these people (some on both side of the aisle) would smother their own children to attain power.

    What a cesspool. Term Limits!

  34. 26: VK.. I think Pelosi deliberately killed this bill.

    I hear the next submission of the bill will include all the Left wing provisions that John McCain and House GOP was able to have be removed last weekend

    Bush better veto it.

  35. lol @ socal

    Torrential-douche,

    The bill had ZERO Republican support before McCain flew in. The most incompetent Speaker in at least the last 50 years and her equally incompetent cohort in the Senate, Harry Reid, said they would not even consider the bill unless there was Republican support. McCain delivered that support, and little Nancy Nip n Tuck couldn’t get it done.

    And no, Nancy’s ignorant tirade didn’t have anything to do with Republican votes. Everyone is more than used to the diarrhea that spews from her dangerously taught pie hole. They were going to vote against it anyway.

  36. Democrats tell auto-makers what cars to make and how to make them — taxpayers are on the hook for a $75 Billion auto-industry bailout.

    Democrats tell the lending industry who to lend to, Taxpayers are left holding a $700 Billion bag of turds.

    Democrats tell the vaccine industry how much they can charge for their vaccines, all but 3 of the vaccine manufacturers go out of business, and the public has flu shot shortages as a result.

    Now Democrats want to do the same to the Healthcare industry that they have done to the above three.

    God help us all!

  41. Shadegg: GOP leaders made “stupid claim” by blaming Pelosi speech
    “On Monday evening, Rep. Darrell Issa (R-Calif.), a lead opponent of the bailout, told the Crypt that the notion was “nonsense” and mocked the possibility that a Republican would be shocked or offended by the partisan nature of a Democratic speech.”

    LOL. Can’t even get your own BS excuses straight. I love watching the theocons and fiscal incompetents who hijacked my party in meltdown.

  43. You know, if Granny Rictus McBotox’s speech did have an effect, it’s likely not because Republicans’ feelings were hurt. It’s because instead of trying to bring people together to solve a problem, she was essentially saying, “If you go out on a limb and vote for this bill against the your constituents’ expressed opinion, were still going to wrap it around you and blame you for everything that happened,” I can see where if you were a Republican on the fence, it would have clarified that there was no upside to supporting this bill.

    In all, it was a horrendous failure of Pelosi’s “leadership.” But analysis was never torrentprime’s strong point because it’s much harder than mouthing the latest talking points.

  44. You’ll have to forgive torrentprime, V the K. Yesterday, the talking point was that this bill was bailing out fat cats; today, the Obamamessiah reversed himself and said that it’s a good thing to bail out Wall Street fat cats and that everyone should vote for this bill.

    Now watch as torrentprime flips, just like torrentprime flipped when it was revealed to him that the Obamamessiah supported and pushed making subprime loans to unqualified borrowers, and that the Obamamessiah himself employed as his national finance chair a banker whose subprime loans had collapsed and deprived over a thousand people of their savings.

  45. I publicly note the crocodile tears of the Dhimmicrats over the bailout’s failure when their own senior leadership was given a “pass” to actually vote their consciences against the bailout; five senior Democratic Party House-chairs, all sixteen contested-race Democratic incumbents, ….plus a number of close Pelosi “allies”. Even Mr. Frank’s own subcommittee-chair voted “nay”.

    Since the voting on the floor of the House is public, once the GOP House conservatives and some moderates saw all the prominent Dhimmicratic Party “nays”, is it any surprise they to voted their consciences?

    I thought they really had a chance, but I’m becoming resigned to the McCain-Palin ticket being toast this time. McCain made a big-fuss over calling a time-out…then apparently did little or nothing. The campaign staff’s totally bungled the follow-up on the Palin nomination, reducing a potentially-brilliant choice for VPOTUS to a Tina Fey punchline. And the local bank’s already laying-out barriers and traffic-cones, and laying-in additional drawer-cash, to manage this Friday’s bank-run when my neighbors cash-out their paychecks and pull-out substantial cash from their accounts.

    This is not good….

  47. Oh, it gets better, V; in 1995, using a plantiff named Selma Buycks-Roberson, Obama filed a class action lawsuit against Citibank to force them to make more risky loans to low and moderate-income people.

    Perhaps torrentprime can explain to us why Democrat gays like himself support filing lawsuits to force banks to make riskier loans, and then whine about “deregulation” when said banks get into financial trouble from these risky loans defaulting. After all, as he whines, only “theocons and fiscal incompetents” believe that banks should be allowed to loan based on risk and that people should be held responsible for taking out loans they can’t pay; real “Republicans” like himself and Obama support banks being forced to make risky loans and then using funds from honest taxpayers to bail out the deadbeats who Obama demanded get loans.

  48. Ooh! ND30 called me a Democrat again! Drink!

    Risky loans don’t lead to financial meltdowns. Packaging and hiding them with good loans due to deregulation does. I realize Rush didn’t tell you that part, but, well, Rush needs to blame the poor brown people. Not as awesome an explanation as the blame the gays idea the fundamentalists are circulating, but racism is really what the GOP has left when McCain is this far down in the polls. The “gays did it” will be done off the front pages, just like “teh gays caused Katrina” was last time, but the preachers will get their marching orders, and the blame shifting will commence. And hey, now that we’re gassing mosques in this country, maybe the right will build someone up to a really spectacular hate crime: blow up a gay activism center or something. Really cap off those Bush years.
    The anger and desperation on this blog shows the dire straits the Right is in; it’s why I post here so often now. I saw the light a few years back. I am sure that others reading here have done and are doing the same. Keep on keeping on, peeps.

  49. Risky loans don’t lead to financial meltdowns.

    Oh, that’s a good one.

    IndyMac was founded in 1985 and became the leader in “alt-A” mortgages, those written to consumers whose credit was good if not outstanding, on terms that included adjustable interest rates, flexible pay plans and other features that often meant consumers’ loan balances grew instead of declining over time.

    The company was also heavily into subprime and home-equity loans and often required little or no documentation of borrowers’ income, critics said.

    The Center for Responsible Lending, a consumer advocacy organization, said IndyMac’s decline was caused by “unsound and abusive lending” practices.

    In other words, IndyMac did exactly what you and Barack Obama demanded, which was making risky loans to people who couldn’t afford them. Now, instead of taking responsibility and admitting that that wasn’t a good idea, you want taxpayers who did nothing of the sort to bail them out — and calling other people “racist” for insisting that minorities meet the same credit standards that white people must to get loans.

  50. Packaging and hiding them with good loans due to deregulation does.

    Unfortunately for that argument, torrentprime, the only thing that was “deregulated” in the financial market by the repeal of Glass-Steagall was that banks, investment houses, and insurance companies could now compete in each others’ business spaces and vice versa — a thing which has turned out to be positive, given that the large conglomerates like JP Morgan, Wells Fargo, Citigroup, and others that have done that are surviving nicely, while the single-business groups like Lehman, Bear Stearns, AIG, and WaMu have not.

    Furthermore, the “deregulation” that caused the most problems is thanks to Democrats like yourself, Obama, and Barney Frank — who ordered Fannie Mae and Freddie Mac to lower their requirements, thus allowing them to take on and securitize even more risky loans with a government guarantee.

  51. Here’s the thing, I bought a house I could afford, I keep up my mortgage payment, and I didn’t take out a huge equity loan to buy a bunch of crap. But if I had been totally irresponsible, bought more house than I could afford, ran up a home equity loan until my mortgage was upside-down… then I could get a government bailout…. and I’d get to keep my house and my crap.

    Am I a sucker?

  52. No, V the K; you see, you wouldn’t have been eligible for a bailout anyway, because you’re white. This is just for black and brown people, like torrentprime makes clear above, because holding them responsible for their decisions or making them meet credit standards is “racist” according to Obama and his supporters.

    I really wish torrentprime and his fellow Democrat liberals would open their own banks and make the loans they demand everyone else does. Isn’t it amazing that they don’t do that, instead trying to extort the loans and money they need from others using the government as a cudgel?

  53. Yes, V, you are a sucker – what with that bourgeois “responsibility” thing going…

    Rush needs to blame the poor brown people.

    Back in the 90s when the Boston Fed came out with their report that minorities were being “under-served”, there was an article in the WSJ about some statistics (before mortgage standards were changed) that showed that mortgage defaults for blacks and whites were about the same… in other words, the same credit standards were being applied regardless of the applicant’s color.

    So tell me, torrent, how does one help the “poor” by

    1) getting them into a debt they can’t possibly service?
    2) running up the price of housing by inflating demand via super-loose credit (see #1)?
    3) putting them through inevitable foreclosure and eviction?
    4) laying waste to entire blocks (see Detroit) filled with abandoned houses?
    5) strangling the economy so that jobs dry up?

    Libs love to be seen as “helping the poor” yet so many liberal prescriptions seem to do just the opposite (yet a fair number of Democrat operatives seem to do pretty well).

  54. So Cal it is the same thinking that gives a minority kid an in to Harvard, instead of Michigan State University. He fails at Harvard because he is in over his head, when he could have succeeded at MSU and graduated with confidence. They don’t care about the kid and his future success, they just want Harvard to have the “numbers”.

  56. 49: NDT and 47 torrentslime..

    The 1999 bill that Gramm sponsored that allowed Banks to expand to other markets had a provision in it that was added by the Democrats that required that any bank that sought to move into the new markets had to have a satisfactory CRA audit / review.

    This guaranteed that any institution that expanded into the international market system was assured to be saddled with time-bomb bad loans.

  57. No, V the K; you see, you wouldn’t have been eligible for a bailout anyway, because you’re white. This is just for black and brown people,

    One of my kids is a privileged minority, and I’m working on adopting another privileged minority kid. Doesn’t that count for anything? 😉

    Damn, I’d hate to be arguing against V the K, SO Cal, AE and NDT, you guys are good. Thanks for being here.

    Nah, it just looks that way because conservatism is built on common sense, making it easy to defend. Guys like talkingpoints and michael that have to defend liberalism. It’s impossible to look smart while arguing for stupidity.