What Happened to the Bail Out?

Discussion in 'World Events' started by Buffalo Roam, Oct 6, 2008.

  1. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    When the Bail Out was only 3 pages long and voted down the DOW went up by 450 points.

    The bail Out now at 460+ pages passes and the DOW goes in to free fall, Friday the Dow dropped 157 points, and today it fell another 510 points to below 10,000.

    The Democrats rammed this through, with another 150 Billion of Ear Marks, PORK, to buy a votes for a major screw job for the People of America.

    Now the cold is spreading across the globe.....

    STOCKHOLM, Sweden (AP) -- Germany on Sunday guaranteed all private bank accounts and negotiated a 50 billion euros ($69 billion) bailout deal for Hypo Real Estate AG as Europe's second largest economy sought to ward off financial crisis.

    Greece joins bailout stampede as Germany vows no blank cheques
    The Greek government has issued a blanket guarantee of all bank deposits after panic withdrawals by customers in Athens and Thessaloniki, creating an unstoppable stampede across Europe for an EU-wide bail of the financial system.

    Italy to propose European bailout fund
    From corresponents in Rome
    Agence France-Presse
    October 06, 2008 10:45am

    ITALY will resurrect the idea of creating a European bank bailout fund at a meeting of EU finance ministers in Luxembourg, Prime Minister Silvio Berlusconi said.

    France seeks €300bn rescue fund for EuropePatrick Hosking
    Live: 24 hours of the Global Economy

    France heaped pressure on Gordon Brown last night by floating an ambitious plan for a €300 billion (£237 billion) bailout fund to rescue crippled banks across Europe.

    Yes the Democrats plan, Smoked Pork and Mirrors, and the Conservatives/American Liberals, around the world are signing on.

    BOHICA...........The Biggest Pork Job in the History of the World.
     
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  3. joepistole Deacon Blues Valued Senior Member

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    Too little, too late. Funny, the Republicans in the House rejected the bill. So the Republicans in the Senate porked it up in order to get the House Republicans to support it. So the first time around the bill did not have enough pork for the Republicans in the House.
     
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  5. S.A.M. uniquely dreadful Valued Senior Member

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    72,825
    Hilarious. But as they say, survival of the fittest. Or is it fattest?

    Please Register or Log in to view the hidden image!

     
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  7. ashura the Old Right Registered Senior Member

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    Why do you only give credit to the Democrats Buffalo? It's the Republican who voted for it that you should be riled up about, I know I am.
     
  8. Buffalo Roam Registered Senior Member

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    16,931
    Were do you get the Idea that I am pleased with the Republicans who voted for the Bail Out?

    The Bail Out was constructed by the Democrats, shepherded by the Democrats, and the Democrats bought the Votes necessary with a massive infusion of Pork to get it passed, and it didn't do a thing to solve the problem.

    The Boards of Fannie/Freddie fuck up were populated with Democrats, who used Enron Accounting to make sure that they received their bonuses, and golden parachutes when they bailed out, and left the mess for us Citizens to clean up, and it still hasn't been cleaned up, the Democrats made sure of that, the Bill put's the same people back in charge, the same People who created the problems in the first place.

    Do a little research and see who sat on the Boards of Fannie/Freddie Fuck Up, and tell me that this isn't a Democrat generated scandal and problem.

    See who blocked any reforms, and tell me that it wasn't the Democrats protecting their own ass's, in Congress and their appointed Ass's on the Boards of Fannie Freddie Fuck Up.
     
  9. iceaura Valued Senior Member

    Messages:
    30,994
    Henry Paulson, Ben Bernanke, and everyone else involved in this from the W administration including W, are none of them Democrats.

    So almost none of the people who "constructed" the bailout were Democrats. The Dems added some ornaments - such as the hike in the FDIC account coverage - but the main structure was based on, as you put it, Enron style accounting by Enron type people: Republicans.

    btw: Anyone notice that the bankruptcy reform bill passed a couple of years ago at the behest of moneylenders (written and passed by the Republican House, Senate, and Administration) went out of its way to exclude mortgage debt from the categories of debt a bankruptcy judge can negotiate ?

    Remarkably lucky of the moneylenders to have focused on that, seeing as how they were caught by surprise in this recent emergency and sudden need for bailout.
     
  10. spidergoat pubic diorama Valued Senior Member

    Messages:
    54,036
    So the bail out had no obvious effect. Great. If the Democrats hadn't insisted on some tax cuts and earmarks for the people, it would be a total waste.
     
  11. joepistole Deacon Blues Valued Senior Member

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    22,910
  12. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    The Democrats? :roflmao:
     
  13. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    Yes Really:

    The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him.[46][45]

    The Online NewsHour: Washington Corruption Probe". PBS.org. Retrieved on 2008-02-21.

    Salinger, Lawrence. “Encyclopedia of white-collar & corporate crime: Encyclopedia of Corporate Crime”, page 478 (Sage Publications 2004).
     
  14. spidergoat pubic diorama Valued Senior Member

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    54,036
    It doesn't have to be illegal to be bad.
     
  15. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him.[46][45]

    The Online NewsHour: Washington Corruption Probe". PBS.org. Retrieved on 2008-02-21.

    Salinger, Lawrence. “Encyclopedia of white-collar & corporate crime: Encyclopedia of Corporate Crime”, page 478 (Sage Publications 2004).
     
  16. spidergoat pubic diorama Valued Senior Member

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    54,036
    It doesn't have to be illegal to be bad.
     
  17. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    And McCain was minimally invlouved in it..............."The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him."[46][45]

    No Charges, no Crime, no Conviction for anything.

    After a lengthy investigation, the Senate Ethics Committee determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle had substantially and improperly interfered with the FHLBB in its investigation of Lincoln Savings, with Cranston receiving a formal reprimand.

    All Democrats.

    Senators John Glenn and John McCain were cleared of having acted improperly.

    One Democrat and one Republican.

    All five of the senators involved served out their terms. Only Glenn and McCain ran for re-election, and they both succeeded.
     
  18. nietzschefan Thread Killer Valued Senior Member

    Messages:
    7,721
    As I predicted dead cat bouncing down down down. TSX is droping even faster that Dow, which means they are pretty pessimistic on the U.S buying commodities in the next 6 months. It's still a long way from over on stock markets.
     
  19. ashura the Old Right Registered Senior Member

    Messages:
    3,611
    Not so much that you're pleased with the Republicans but that you're not angry enough about them voting for the bill. You didn't mention the word Republican once in your OP. Mr. I'll-make-those-who-put-in-earmarks-famous voted for it, where's the anger towards him?

    http://www.youtube.com/watch?v=_2srLxcsqXg

    A number of House Republicans switched their vote because of all the pork, showing just how spineless and unprincipled they are.

    When Democrats vote for things like this I don't mind so much because that's what they publicly say they'll do. But Republicans, with their party plank of letting the free market work, of not bailing out institutions, of limited government, they don't get a pass. Your ire should be directed mostly to them, because if you focus only on the Democrats, you're going to miss the big government disease eating away at those you elect to counter the Dems.

    Be angrier at the Republicans Buffalo, they deserve it more. And if they feel the heat from people like you and me, they're going to be forced to change. The Democrats won't.
     
  20. milkweed Valued Senior Member

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    1,654
    Well... Kinda...

    The Senate Ethics Committee did not pursue, for lack of jurisdiction, any possible ethics breaches in McCain's delayed reimbursements to Keating for trips at the latter's expense, because they occurred while McCain was in the House.[47] The House Committee on Standards of Official Conduct said that it too lacked jurisdiction, because McCain was no longer in the House.[51] It said it did not require that McCain amend his existing financial disclosure forms for his House years, on the grounds that McCain had now fully reimbursed Keating's company.[51]

    Reactions

    Not everyone was satisfied with the Senate Ethics Committee conclusions. Fred Wertheimer, president of Common Cause, which had initially demanded the investigation, thought the treatment of the senators far too lenient, and said, "The U.S. Senate remains on the auction block to the Charles Keatings of the world."

    hmmm. Sounds almost prophetic...

    http://en.wikipedia.org/wiki/Keating_Five
     
  21. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    Again were do you get this Idea?

    What I am even angrier at is the snow job pulled by the Democrats, politics as usual, buy the votes with Pork for Everybody, and the Democrats are the ones doling out the Pork for the Votes.

    Again this is a Democrat bill, it was only 3 pages long as presented by the President, after the Democrats got their hand on it it was 460+ pages of Pork, and no oversight, the exact same people who caused the problem are now the ones in charge of supposedly cleaning up the Bill, and those people are Democrats.
     
  22. Michael 歌舞伎 Valued Senior Member

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    20,285
    I'm not sure if you remember this or not, but wasn't it the House REPUBLICANS who also voted down the bill? Wasn't it all about getting THEIR support?

    Anyway, the pork in this bill is like bacon fat next to the baked leg ham being passed out on the Iraq war. Just think about the 10 billion dolalrs spent in the two weeks we were talking about this bill!

    The fact is GW Bush has spent spent spent and spent some more and finally he did what EVERYONE was saying 7 years ago - he finally bankrupted the whole US economy. But, meh, I read Cheney has a nice compound in UAE.


    Bush has the same approval numbers as Nixon on the day he resigned office. Bush has replaced Herbert Hoover as the most despised President. And guess What BR that means a HELL of a LOT OF REPUBLICANS ALSO HATE HIM.

    Face it, the GOP spent like drunken swine. I remember one of GW Bush's advisor's talking about how we were the only super power and this century will see a New American "Empire" and how we would change the world bla bla bla.... NOW we see what it got us. Deep in shit.
     
  23. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    The Republicans in the House along with a Group of Democrats voted down the 3 Page Bill, and the DOW went up 450 points, by the end of the day.

    I am still reading, but most of the Pork seems to have gone to other Democrats, to get them to change their votes in favor of the Bill.

    And Guess what, the War, authorized by Congress, is what the Government has Constitutional Authority to spend money on, there is no Constitutional Authority to spend money to save Wall Street, or Fannie May and Freddie Mac, Private Banks, or People to stupid to not buy more Home, than they can afford to pay for.


    And have the Democrats slowed anything down? No they just wanted to spend it on different pork projects, and they did just so in this Bill, spending like Drunking Democrats to get passage so they and their friends don't end up holding the bag.

    And Congress approval ratings are even lower than the Presidents.

    Again, when have the Democrats been any different, the only thing they are squealing about is that the Pork wasn't spent as they saw fit, on their pet projects.

    Has the spending gone down under the Democrats after they took control of the Congress? ..................... NOT on little Bitty Penny, the Democrats have just increased the National Debt, by 12% with this pile of Pork to Save their Fanny/Freddie screw up.

    Do the Research, the People on the Boards of Fanny/Freddie screw up, the People who went home with their Bonus's and Golden Parachutes were Democrats from the Clinton Administration, and Friends of Democrats in Congress, FOB...Friends of Barny, FON.....Friends of Nancy,........FOH.....Friends of Harry, they made Millions and lost Billions, and the letter behind their name is Democrat.......Dand we get to pay for the clean up, the citizens of the United States, for a Democratic payoff to their friends.
     

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