Bailout Round II: A New Shade of Lipstick

By David Swanson

The House of Representatives voted down Paulson's Plunder on Monday, 225 to 208. Here's why: http://afterdowningstreet.org/node/36420

We demanded a No vote and for the first time in recent memory we were listened to. Thank you! Three cheers for the American people!

Now is not the time, however, to rest on our laurels. Speaker Pelosi is almost certain to dig deep in her purse for a different shade of lipstick she can smear on this pig in preparation for a re-vote, and it might be a deep Republican red. There were certainly some Republicans who voted No on Round One because the bill wasn't even worse than it was, because it didn't add further deregulation and/or tax cuts for the wealthy to the current catastrophe. Needless to say, Pelosi's first inclination will be to go after those members' votes.

On the other hand, Pelosi could go with a purplish gray and tack some more populist smelling features onto the first bill in hopes of puckering up this pig for some Democrats. Her main tactic if she takes this approach might be unrelated bribes and threats, combined with a hope that certain Democrats will feel comfortable telling their constituents that they voted No on Round One and must therefore be forgiven for voting Yes on Round Two. Don't think these people won't kiss this pig and use exactly that line. Therefore, those of us who want to prevent Paulson's Plunder had better keep our phones on redial until we get through to Congress at (202) 224-3121 again and again and again.

What's our message now? It's a tentative Thank You to those who voted No combined with a demand that they not cave in, and a promise to work to unseat those who voted Yes unless they redeem themselves immediately. And how can they do that, and what do we want from Congress now? I'll tell you what I want:

I want a bill immediately to ban predatory mortgage lending, ban states from preventing cities from restricting predatory lending, and commit the federal government to allowing states full freedom to restrict predatory lending.

I want a bill establishing a maximum wage at 10 times the minimum wage, and including all forms of income in that calculation (and raising the minimum wage how ever much required to pass the bill). I want the tax system created by that bill to pay for any necessary bailouts, and want such bailouts enacted and overseen by Congress.

I also want a Tobin tax on all transactions in finance, insurance, and real estate, including currency transactions.

I want Congress to haul fraudulent bankers into Washington and force them to testify, fire them without compensation as part of any bailouts, and refer them to the Justice Department for prosecution.

I want serious regulation of Wall Street.

I want a five-year moratorium on foreclosures, and a bailout of homeowners equal to any bailout of bankers.

And, finally, I want $700 billion invested in green energy jobs immediately, to be paid for by a tax on carbon emissions.

In fact, I would like to see all of these steps included in a single bill called the "Honest Emergency Economic Stabilization Act of 2008." Somebody explain to me why that wouldn't be a good move for our economy and a smart political step for those who propose it.

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Homeowners

Screw that No BAILOUT for THEM either,Just Revalue the Homes and give them a Loan on That or an Option.NO FREE RIDES ..PERIOD

this all sounds good except...

global warming is false. plenty of accredited scientists have put al gore in his place by telling us that the world is actually going through a period of global cooling. coolest summer in los angeles in how many years? was it kenya that was having SNOW storms? oh, but the colder weather is CAUSED by global warming, right? wrong. do some research.

but, good article, and good propositions for our economy.

Where do I find out how people voted?

I probably can find it, but would someone post where to find out how my members of Congress voted?

~ Mikael Rudolph
www.ImpeachforPeace.org

google Clerk of House

but that site is clearly overrun

How Members Voted

Here's the link to find out how the vote went and who voted aye (disregard the bill's title, congress has a habit of mislabeling these things): http://clerk.house.gov/evs/2008/roll674.xml
Guy Trunkett

wrong bill...

Sorry, that clearly is the wrong bill.

~ Mikael Rudolph
www.ImpeachforPeace.org

Anon has correct bill> check it out!

Somewhere below is today's bill~

http://thomas.loc.gov/cgi-bin/bdquery/z?d110:h.r.3997:

"H.R.3997
Title: An Act to amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel, and for other purposes.
Sponsor: Rep Rangel, Charles B. [NY-15] (introduced 10/30/2007) Cosponsors (None)
Related Bills: H.RES.884, H.RES.1517
Latest Major Action: 9/29/2008 Resolving differences -- House actions. Status: Pursuant to the provisions of H. Res. 1517, the House moved to agree to the Senate amendment to the House amendment to the Senate amendment with an amendment.
House Reports: 110-426
Note: According to the House Majority Leader, H.R.3997 will be used as the vehicle for the Emergency Economic Stabilization Act of 2008. See documents on the House Financial Services Committee website and H.Res.1517 on the House Rules Committee website. "

Go up to the Weasel Watch article...

...by Lindorff (just above this one) and click on the blue "here".

sign up for Congress.org

I get who voted for what on Congress.org

I have clicked...

...to submit my opposition to this pig on every email site that's crossed my screen (including one just a few minutes ago telling them to not submit to any backroom arm twisting), but I will not thank, or threaten, or plead with any of them.

What I will do is to not vote for another Democrat or Republican, ever again. Only third party candidates will get my vote from this point forward.

Time to clean out this pigpen and start fresh. That's what I want, anyway, but I wish you luck getting your bill.

R Ap

Don't click on those email sites...

"...to submit my opposition to this pig on every email site that's crossed my screen (including one just a few minutes ago telling them to not submit to any backroom arm twisting), but I will not thank, or threaten, or plead with any of them."

That's all well and good but most of those sites are fakes designed to make you think you are sending your thoughts to your Rep but in fact it goes no where. Call them on the phone, fax them, or email them directly otherwise they will most likely not receive it.

Huh???

Nice Bill! Read a lot of Marx?

bailout

We are now getting all the crap about how this is really for "Main Street" not
"Wall Street" so why not bolster the credit markets but not the bankrupt banks?
Start pushing a bill where the government puts money into the banks that
don't need bailing out, allowing them to expand their businesses and
increasing their market share these are the guys much more likely to give a
"return" to the taxpayer. Solves the "It's impacting Main St.
issue " Let the thieves go bust. See who gets behind that.

One more thing

I want those bad boys and girls in the Congress to immediately pass legislation to look after the 9ll first responders who are sick and dying because of the Bush regime, that gladly uses them as props, that told them the air at ground zero was safe to breath when it was known that it was not.

What is wrong with these people that they will ignore our heroes and bail out the thieves? Good for us that we stop them this time. It certainly is not time to rest on our laurels now.

Unfortunately, my Congresscritter voted for the bailout. He is such a chicken shit. No offense to chickens intended.
4Peace

just an idea to add here

I would like to take this opportunity to spread my thoughts on how to help reduce some of the mortgage problem we are facing.
Allow those who have 401(k)'s and IRA's to make a one time withdrawal from their account with no penalties or taxation. This would go straight to a lending institution to either reduce or pay off a mortgage debt or allow those who need to make up a loss in housing price, refinance there home to a fixed mortgage.

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