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October 01, 2008
Senate To Vote On Bailout Wednesday Night (additions made by Senate)
The U.S. Senate will vote on the $700 billion financial rescue bill on Wednesday, just two days after the House of Representatives rejected it. The vote will take place around 9PM ET tonight..
The package before the Senate will be similar to the House version, with these additions, the New York Times reported in its online edition:
* The higher limit for insured bank deposits sought by the Federal Deposit Insurance Corp., which asked to raise the cap to $250,000 from $100,000, to quell opposition by individual and small-business depositors.
* Tax breaks for businesses and alternative energy, part of a package that has been caught in a stalemate in the House of Representatives. The Senate version of the gridlocked tax legislation would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power, the Times said. It would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms, according to the Times..
Senate Majority Leader Harry Reid, D-Nev., said details of the proposal wouldn't be available until Wednesday, the Times reported.
If the Senate approves the package, it would go to the House, which doesn't reconvene until noon Eastern on Thursday.
(1)Motion to concur on the House message, H.R. 2095, Rail Safety;
(2)a Dorgan amendment relating to H.R. 7081, the U.S. - India Nuclear agreement;
(3)a Bingaman amendment relating to H.R. 7081, the U.S. - India Nuclear agreement;
(4)passage of H.R. 7081, the U.S. - India Nuclear agreement;
(5)a Dodd amendment to H.R. 1424, relating to the bailout package;
(6)passage of H.R. 1424, the bailout.
from Quin Hillyer at The American Spectator
"The Senate tomorrow will attach the Wall Street bailout to a “must pass” tax extender bill. This is dirty pool. When you are talking about the single most significant growth of government power EVER, you should let it sink or swim on its own. You don’t attach it to a goodie basket and dare the other chamber to vote against it. To do so is a cheap, despicable tactic. It is the tactic of people without the courage of their convictions — the tactic of cowards. Yes, cowards. I am utterly disgusted with McConnell and the entire Senate leadership. This is not the way to handle legislations as serious as this is. If the House GOP had any guts, then if the Senate sends the House the bill in this form — thus also making a mockery, via legerdemain, of the requirement that such financial bills should start in the House — MORE of the House GOP than before should vote against it, in protest against this sort of hardball pressure.
I think every conservative in the country should raise holy hell about this. AGAINST this tactic. WHATEVER you think about the underlying bailout, this BS is utterly insulting."
Wild Thing's comment.......
Attaching this to another piece of legislation is just wrong.
Check out this section of the bill;
SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS.
The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.
This means we’ll be buying the bad loans of FOREIGNERS, not just us.
On Kudlow he said it was revealed Paulson would not support it and Bush would veto it if it had in it a provision to stop the above from happening!
Who do they represent, us Americans or some set of globalist masters?
I always thought that the rumors of globalism was tinfoil-hat material but what was tinfoil yesterday seems to be breaking news today!
They don’t deserve $700 billion, they deserve jail if anything.
Posted by Wild Thing at October 1, 2008 03:47 AM
Comments
Dirty pool, Harry Reid!! (of Searchlight, NV, where the people ate dirt, we were so poor.)
There is nothing San Fran Gran Nan or Poor Harry won't do to keep their power and get the Dems in both the Houses, White and Congress.
What's sad is too many Republicans aren't standing up and crying "foul!"
And god help us, if Obobo does get elected - there will be absolutely, positively NO investigations into all the "for the people" politicians involved in all of this.
Posted by: yankeemom at October 1, 2008 09:18 AM
Dirty Harry II? The previous bill had a 3% raise in it for ALL federal employees too! What a New Dirty Deal, eh? These dirtbags wanted to include the buyout of THREE MILLION foreclosed houses too...in inner city blue states mostly? FIGHT ON patriots and NO FEAR!!!
Posted by: darthcrUSAderworldtour07 at October 1, 2008 09:35 AM
It appears that the Senate is attempting to load enough pork onto the cow patty to make it smell better to those that are opposed. I am afraid that this is blooming into a christmas tree for the dems. $700B. And no guarantees or forethought to suppose that it will work. Surely, there are enough financial institutions that are solvent to buy up those that aren't. It's like a recipe that didn't turn out right, so you keep tweaking it and adding ingredients to make it taste better, but in the end, you will throw it out in the yard.
Posted by: jim warren at October 1, 2008 04:43 PM
Yankeemom,...."What's sad is too many Republicans aren't standing up and crying "foul!"
I am so angry at the Republicans including McCain for going along with this. McCain is going to have trouble making me believe he wants to get rid of pork when he signs this bill that is loaded with it.
WAAAAAAAAAAAAA and grrrrrrrrrrrr big time.
Posted by: Wild Thing at October 1, 2008 07:54 PM
Darth, Yesss fight on but I want to strike out, I am sooooooooooo furious!!
OH Darth this is so horrible, I am so terribly disappointed and angry about this.
Posted by: Wild Thing at October 1, 2008 07:58 PM
Jim, yesss, oh I hope they throw it out. I pray they do, this is just a nightmare and are living it.
Posted by: Wild Thing at October 1, 2008 08:01 PM
If you really want to know who is pulling the puppet's strings. Do some research on:
Bilderberg Group
The Bilderberg Group, Bilderberg conference, or Bilderberg Club is an unofficial annual invitation-only conference of around 130 guests, most of whom are persons of influence in the fields of business, media and politics.
The elite group meets annually at luxury hotels or resorts throughout the world — normally in Europe — and once every four years in the United States or Canada. It has an office in Leiden in the Netherlands.[1] The 2007 conference took place from May 31 to June 3 at the Ritz-Carlton Hotel in Istanbul, Turkey.[2] The 2008 conference took place in Chantilly, Virginia, United States [3] .[4]
http://en.wikipedia.org/wiki/Bilderberg_Group
Daniel Estulin has a very well researched book.
Editorial Reviews
Review
"If you want to know who really runs the world and the lengths to which they will go to establish their globalist hegemony, you must read Estulin's well-documented The True Story of The Bilderberg Group." —carolynbaker.net
"Judging from the list of frontrunners of each party, Daniel Estulin . . . may be on to something." —worldnetdaily.com
"For some 15 years, Estulin has been a thorn in the sides of the Bilderbergers, relentlessly hunting down their secret meeting places, gaining inside sources who divulge what goes on behind closed doors, even photographing attendees and publicly disclosing it all. Now he has put it all in a book that every person who values freedom and democracy should read." —Onlinejournal.com
http://www.amazon.com/True-Story-Bilderberg-Group/dp/0977795349
Posted by: Duane at October 1, 2008 08:32 PM
Just a question. On home foreclosures, does anyone know the ratio between government tax foreclosures and bank foreclosures. Many elderly , and people that owned their homes free and clear have lost them because they could not afford the ever spiraling property taxes. Others that were not elderly have also lost their homes.
Posted by: Bob at October 2, 2008 06:24 PM
