Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Pelosi: Vote Planned for Noon Friday

House Speaker Nancy Pelosi (D-Calif.) just told The Post's Lori Montgomery that the House will not vote on the Senate's approved version of the $700 billion Wall Street rescue plan unless there are sufficient votes in the House to pass it.

Then she said the House plans to vote on the bill at noon Friday.

So, you do the math.

Meanwhile, Rep. Steny Hoyer (D-Md.), one of the House's fiscally conservative Blue Dog Democrats and no fan of the original bill, released this strong statement in support of rescue bill Version 2.0:

"We believe this is very important for the purposes of stabilizing the economy, restoring confidence in the markets, and ensuring that average working people in America, or nonworking people in America, just average Joe and Jane are not devastated by a continuing spiraling down of this economy, which has been happening. Almost every adviser I have talked to has indicated that the option of doing nothing is not appropriate. And that if we do nothing, the situation will get worse."

-- Frank Ahrens

By Frank Ahrens  |  October 2, 2008; 3:08 PM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Ornaments on the Rescue Bill Christmas Tree
Next: Markets Dive Toward Closing

Comments

LET IT BE SAID HERE FIRST.

1) CEAN OUT YOUR BANK ACCOUNTS NOW.

2) DONT YOU KNOW WHY THEY INCREASE IT?? IT BECAUSE THE SMART ONES ARE TAKEING THIER MONEY AND RUNNING TO LOCAL BANKS AND CREDIT UNIONS.

3) WHY BECAUSE THE GOVERNEMNT AND WALL STREET WANT ALL MONEY THATS WHY..WHAT THEY PAY YOU 1 TO 3 PERCENT ON IT /> /> BUT GIVE IT OUT AT 8 9 12 15 20 PERCENT..WHATS FAR WITH THAT PICTURE AMERICANS??

THE GOVERNEMNT WANTS TO HAVE ONLY WALL STREET AS BANKS..NOW STOP THEM NOW. TAKE ALL MONEY OUT OF MARKETS AND WALLSTREET.LET THEM GO DOWN. THEN AND ONLY THEN CAN WE THE PEOPLE GET BACK TO GOING DOWN TO OUR LOCAL BANK AND SHAKING HANDS AND SITTING DOWN WITH FREINDS AND GETTING A LOAN..WITH NO HASSELS, NO WORRIE, WHY BECAUSE THEY THE LITTLE BANKS WILL HAVE CONTROL OF ALL MONEY AGAIN.. NOT WALL STREET..

AND THAT S WHY THESE SCUM BAG SENATER PUT IN THAT 250,000 GARRENTY..YA RIGHT!!

THE FDIC DOESNT HAVE THE MONEY ....THEY HAVE COME OUT AND SAID THEY WILL HAVE TO GO TO CONGRESS FOR HELP..VERY SOON..WHAT A JOKE...THE WORLD WILL END THE WORLD WILL END..BULL CRAP..

TAKE YOUR MONEY PEOPLE....

YOU HAVE BEEN WARN.

OVER 200 OF THE TOP ECCOMMIST SAY THE BAIL OUT WILL ONLT HURT MORE AVERAGE AMERICANS THAT THE RICH.

THEY SAY NO BAIL OUT.. LET THEM CLEAN THEMSELVE OUT LIKE ALL AMERICANS HAVE TO.. THET SAY LET THEM GO THROUGH BANKRUPY PERIOD........LIKE SO MANY AMERICANS HAVE TO EACH DAY AND SO FAR OVER 10 MILLION THIS YEARS ALONE HAS TO AND IS GOINFG THROUGH IT..BECAUSE OF THESE SCUM BAGS.

DAVID A BELANGER
VETERAN
FOR-AMERICA@HOTMAIL.COM
9786183105

P.S. I FOR GOT ONE IMPORTANT THING!!NOT THAT THEY( MEANING WALLSTREET FAT CATS YOU KNOW THE ONES THAT HAVE DONE ALL THIS CRAP) THEY HAVE OVER 3 TRILLION DOLLARS SITTING OVER IN THE CAMIN ISLAND, JUST SITTING THEIR!!!!!!!!!!!!!!

MAKE THEM USE THIER MONEY..TELL THEM TO USE ALL THE TRILLIONS YOU STOLE FROM AMERICANS.

AGAIN LET ME STRESS THAT THE GOVERMENT AND WALL STREET IS TRYING TO GET ALL MONEY.

TAKE ALL MONEY OUT NOTHING IS SAFE RIGHT NOW.. NOTHING.. AND I DONT CARE WHAT THEY SAY IT WOULD BE MONTHS EVEN YEARS BEFORE YOU GET YOUR SO CALLED FDIC INSURED MONEY...

RUN AMERICANS RUN AND TAKE ALL MONEY OUT..WE THE PEOPLE DO HAVE A VOICE WE HOLD THE MONEY THEY NEED IN THIER BANKS...WE THE PEOPLE DO..SO GET IT OUT OF WALLSTREET AND ALL BANKS..GO TO YOUR LOCAL SMALL BANK AND GIVE IT TO THEM AND PUT SOME UNDER THE PILLOW..YOU WERE WARN

Posted by: david,veteran | October 2, 1908 3:10 PM | Report abuse

Senators agree that This Bailout, Rescue, Corporate Welfare/Socialism are a temporary measure and will be improved upon in the taxpayers favor with more time. The add had already passed in the Senate 93 to 2 in bill H.R. 6049 Renewable Energy and Job Creation Act of 2008.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00205

It was revised by Congress as bill H.R. 7060 to remove Tax breaks for Oil companies, and was currently being debated by the Senate, though Bush threatened to Veto it if it revoked the Tax Breaks for Oil companies.

Change the relationship between Wall Street and Government. If a Bailout is needed; Purchase the actual Mortgages (at 20% Discount) upon which the Wall Street securities are based. That gives the Taxpayer power over Wall Street policies instead of the other way around, and it pumps needed CASH into the Credit Market.

It's OK if the Democrat Blue Dogs vote against the plan. 47 Republican Votes can replace theirs, making for a near 50-50 split of support from the two parties. That's Bi-partisanship.

What Both Parties need to make clear is that the Bailout is to protect Trillions of Credit Swaps/Slices and Collateralized Debt Obligations (CDO) that companies have invested in. If these fail, the World Economy may fail under an Avalanche of Debt.


BUY the actual MORTGAGES from the BANKS and not these Wall Street paper “Black Holes”, because if we buy these ”Paper Debts” at auction/ discounted rates, other Banks and Investors will realize how little they are actually worth, which could accelerate the Bank Failure rate.

Read: How 'credit default swaps'—an insurance against bad loans—turned from a smart bet into a killer.

http://www.newsweek.com/id/161199


Now that the bill includes the $17 Billion for Solar Energy Investment, I’m for it as a first step towards massive Job creation and Renewable Energy investment:

http://www.renewableenergyworld.com/rea/news/story?id=53592

If Congress Extends ITC, 440,000 Solar Jobs Will Be Created, Study Says:

Navigant Consulting released the results of its new economic study this week indicating that more than 1.2 million employment opportunities and US $232 billion in investment would be supported by the U.S. solar energy sector alone through 2016 if Congress extends the solar investment tax credit (ITC) for 8 years.

According to the study, by 2016, the solar energy industry would create 440,000 permanent U.S. jobs with much of the direct growth occurring in domestic manufacturing, construction and the trades. This figure reveals the strength of the solar job creation engine when compared to the current 79,000 direct employees of the coal mining industry and the 136,000 direct employees in oil and gas extraction.

---

I agree that Renewable Energy Investment and Job creation should have it's own bill, but Republican Senators working on behalf of Oil Industry Lobbyists have blocked all other attempts to Revoke Tax breaks for Oil companies in favor of Renewable Energy investment.

Posted by: Derek | October 2, 1908 3:22 PM | Report abuse

I am very worried about our legislators not listening to us. There is no guarantee that purchasing these toxic assets will help in any way. Over 150 of the nations top economists are telling Congress no to the bailout. And in the process the Senate adds a bunch of new tax earmarks for things such as wooden arrows. We've already given billions to AIG, Fannie/Freddie, etc. and the problems are still there. I'm afraid this could be be $700 billion down the tubes.

For 2 weeks we've been told daily if we don't do something today, financial armageddon will arrive tomorrow. Every day we get by though and the stock market isn't plummeting 2,000 points as many have suggested. We all need to realize the number is on paper anyway, eventually the DOW will be back up. In addition, my neighbor just obtained a $150,000 credit line showing credit isn't as bad as we are led to believe.

We are in a financial mess, and things need to be done. However, we must be smart in how we attack this. During times of war or when playing chess you think strategicly to win the war/game. It isn't about moving as fast as possible to win a battle. You could make a wrong move which could lead to defeat. We could make things worse and be forced to do this all over again in 5-10 years.

Take 1 minute and tell Congress find a real solution and to Vote NO on this bailout. Call (202) 224-3121 or email them at wwww.VoteNoBailout.org.

Posted by: Anonymous | October 2, 1908 3:25 PM | Report abuse

It isn't too late. Let your voice be heard!

Call your Congress member at (202) 224-3121, and send an email here at www.votenobailout.org.

Contact the media as well. Flood them with emails. The media will hopefully start reporting the sentiment and it could have a change.

email addresses:
Special@foxnews.com,
Cavuto@foxnews.com,
streetsigns@cnbc.com,
fastcall@cnbc.com,
Foxreport@foxnews.com,
wolf@cnn.com,
show.livedesk@foxnews.com,
FNS@foxnews.com,
Hannity@foxnews.com,
Atlarge@foxnews.com,
Foxreport@foxnews.com,
bullsandbears@foxnews.com,
americasnewsroom@foxnews.com,
Nightly@NBC.com,
Today@NBCUNI.com,


http://www.cnn.com/feedback/cnntv

Posted by: Brian | October 2, 1908 3:26 PM | Report abuse

Don't listen to these nuts who want to defeat this rescue. It is the only way out, and we must do it. This is temporary. We can fix the problems later. We don't want to lose our homes. We don't want to lose our jobs. Save your rage for the retooling process. THIS IS NOT THE RETOOLING. THIS IS THE RESCUE. IT IS NOT ABOUT WALL STREET. THERE IS NO WALL STREET LEFT.

Posted by: Andy | October 2, 1908 3:34 PM | Report abuse

Unbelievable! Some people still don't get what's happening. Do you not understand our financial system is structured in a way that Wall St. is Main St., YOU. What idiots. I will NEVER NEVER vote for any moran who rejected this rescue Bill. What cowards. I'm retired and need to live on the retirement savings which has been so damaged. I worked 40 years, living frugally, saving diligently and this is what these morans led me and millions of other retirees and those about to retire. Sooner they acted, this crisis had a chance to be contained. Now the plan is far far more expensive and the chaos and panic has been doing so much damage and coroding the already weakened system. Woe is me. I can even understand why in olden days only those who were landowners etc. and probably had some brain in their head had a right to vote.

Posted by: pelohoki | October 2, 1908 3:37 PM | Report abuse

No one gets it- this bill NEEDS to be passed!

Posted by: Anonymous | October 2, 1908 3:55 PM | Report abuse

Fine-- Let them pass their rescue bill.. But could they at least be honest with Americas.. The one's who are going to be fitting the bill. Stop Telling Us We're Going to Make Money on the Deal!!! We're not! At least don't lie to us about... It'll make it easier to deal with later.
Check this blog expose out:
http://www.greenfaucet.com/blogs/hanlons-pub

Posted by: Tim | October 2, 1908 4:12 PM | Report abuse

How eager you all are to pick your neighbors' pockets. But thanks for the warning. The rest of us who managed our money responsibly are withdrawing it from circulation and storing it where your beloved fat cats (who have no intention of trickling any down to you, by the way) can't get at it.

Posted by: Pauli9 | October 2, 1908 4:45 PM | Report abuse

Enough. Send stupid Pelosi back to the old ladies home in lala land. When is the last time she balanced a checkbook? She is one scary person who should be in charge of nothing.

--------

Posted by: Charles M Watt @ yahoo.com | October 9, 1908 2:36 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company