Senate Sets Bank-Rescue Vote, House May Act Friday

The House Rules Committee has passed HR 1516, 1517, 1525 and 1424 to go to the floor tomorrow

One (1516 I think) allows for a plain majority vote rather than 2/3rds vote for passage

The rest all are part of getting the bailout through.

Legal gymnastics at it's worst

reply to post by Maxmars

I got a big kick out of your analysis of the pork in the "new" bailout bill.
Nice post, and some great humor.
Like you, I had no idea what 75% of those extensions and perks were. However, I found a good explanation of 10 of them at this site:
www.swamppolitics.com...

For instance, for the rum producers:

Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands. (Page 262)

Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.

Now, you and I know why Congress created this sick Bailout package. They were all stoned drunk, drinking all of that Puerto Rican Rum that the Rum producers sent to them, in order for them to give them the tax break. LOL!

This is a great break down of this so called Bail Out bill I hope everyone in this forum reads this B.S. bill. Who are these Pricks in Washington think they are. I hope they realize that not everyone has their heads in the sand. What is going on in Washington is theft, and from the last time I checked theft was still illegal. If this bill is passed, there will be several more bills that will be passed in the name of saving our economy that will probably be as costly if not more costly than our current $850 billion bail out package. Notice key words BAIL OUT bill. So who does this really bail out. There will be another bill next week which will be a Trillion dollar bail out for certain companies including the automakers if this bill passes Friday. The federal Reserve Bank has turned on the money flow to full blast and broke the means by which to turn it off. One day soon the Mexican Peso will be worth more than our useless dollar.


Peace to all........................Time to take a stand or become slaves.

I'm about to write my representitives an email and I noticed something nice on the HOR hompage.

Due to an unusually high amount of emails currently being submitted through the Write Your Representative feature (above), you may experience a slow response or error message when attempting to send emails through this system during hours of peak demand. We apologize for this inconvenience. Our technicians are working to fix the problem. Thank you.

Keep it up guys, keep it up.

Break the website if we have to, let them know what we think.

reply to post by ProfEmeritus


Hey don't make fun of the Puertorican rum, that is one of the last traditions t that my littler Island have left.

PR rum is one of the best if not the best rums in the world.

Rum and Coke anyone.

reply to post by marg6043


One Cuba Libre for me! Ron Rico please.

reply to post by marg6043

Hey don't make fun of the Puertorican rum, that is one of the last traditions t that my littler Island have left.

LOL!
It may be, but none of these tax reliefs belong in a bill that is supposed to "bail out main street. Of course, that is the purpose of earmarks. They are added to a bill to make it more palatable to a wide group of constituents. It does nothing to correct the horrible base of the bill, which will cause massive devastation to the economy of the US AND the WORLD.
Mark my words. I hope that I am wrong, but I don't think so, in this case.

This bill reminds me of the warning that is on fire extinguishers:

f you use the wrong type of extinguisher, you can endanger yourself and make the fire worse.

This bill is the WRONG fire extinguisher, and like the wrong extinguishers, will make the economic fire WORSE.

Well, the vote has started, and it looks like this treasonous bill will pass.
Mourn for America and the World.
Weak minded Representatives have caved in. It is TREASON, make no mistake about it. Pork is the favorite meat of Congress.
So much for McCain and his claim that he wants to END PORK.
This bill has more PORK in it, than any bill in recent times, and NOT ONE OBJECTION to it, by McCain.
Hypocrite!

218 is the magic number, they are 110 away from it already

reply to post by redhatty

It's a done deal. They would not have called for a vote this time, unless they were certain of passage.

As soon as the bill passes, the Fed will cut interest rates.


[edit on 3-10-2008 by ProfEmeritus]

Yep, it's done. 2 more republicans voted yea. And a lot more Dems voted yea.

Have a safe and great weekend all. Monday will be very interesting in the markets. We shall see.

Well it's done. I'm sick to my stomach over this entire thing. Good way to screw us over House. Who exactly were they representing because it certainly wasn't the interests of the American people.

[edit on 3/10/2008 by lynn112]

Originally posted by ProfEmeritus
So much for McCain and his claim that he wants to END PORK.
This bill has more PORK in it, than any bill in recent times, and NOT ONE OBJECTION to it, by McCain.
Hypocrite!

And, Obama voted for it too. I keep coming back to this: A vote for the lesser of two evils is still a vote for evil

I'm saddened by our choices and this system. I'm writing in Dennis Kucinich in November.

reply to post by ProfEmeritus


And anything that the dollar has gained will be lost, prepare for the gas prices to go back up.

As usual the financial corrupted entities will get the tax payer money but us the tax payer will get nothing but more headaches, unemployment more debt because now the banks will start giving loans and credit to people that can not afford it and the vicious cycle will keep going around and around.

We are nothing than slaves to the system.



[edit on 3-10-2008 by marg6043]

reply to post by marg6043

And isn't it interesting that jsut BEFORE the vote was called, the DOW was up $300. It has now lost over $200 of that gain. In fact, as the vote for the bill kept going up, the Dow kept going down.
As I said many times, Wall Street will NEVER be happy, no matter how much money you give them.

reply to post by ProfEmeritus


Is not Wall street but the foreign banks that lend money to the US as we are a nation that live on borrowing money.

Our dollar now is worthless that is not going to be attractive to the Asian banks that are the ones lending the money to the US government to survive.

From the time that the vote started, when the Dow when +$300, to the close a few minutes ago, in roughly 3 HOURS, WHEN THE Dow closed down 157 points, if you have a 401K or 403B or stock fund for your retirement, YOUR RETIREMENT FUND HAS LOST 5%! IN THREE HOURS.

Don't forget to send an email thanking your congressmen and senators for all that they have done to bail out MAIN STREET!

Is it time for the Pitchforks YET?

reply to post by LaoTzu


Is there No One on this Planet Who believes that this is the biggest scam Mankind has and will ever encounter ? This Whole crash was devised by and will continue to be controlled by the Money markets of the World! These Bankers out with there Begging bowls have salted away Billions and Trillions of Dollars and every other Unit of Currency on the Planet! They run Things Financially . Or at least that`s What We were led to believe, Is`nt it? Well Who is in control ? It`s one Giant Fraud carried out on and behalf of any body on this planet worth a few quid! You only have to look at the Government bailouts around the World, and I don`t just mean the main players e.g The USA and The UK and mainland Europe . Eire,Or Ireland for example bailed the Irish Banks out of trouble to the tune of euro 480 Billion , Twice the GNP. The USA put forward a bill demanding $700 billion, almost as much as the Irish to bail the Banks out! This is just a small part of the World wide bail out! WHY? My First question to the World is Why? Why should We bail the Banks out at the cost of tax payers Cash? Have they ever done you any favours? Because I know they have done nothing for me,but claim money(bank charges) For Lies that they led! What is our future ? Take My advice ,start buying Rice, Water, and General supplies because the way things are going Who knows! Why Please tell me Who are the NEW WORLD ORDER, Because what the rumours are is that they have set this whole thing up ,so that they can fund future plans. To My Calculations so far they have a budget in the Trillions! That would make them an all Powerfull and The Richest Beings on the planet!
THINK ABOUT WHAT I AM SAYING ?

reply to post by AmethystWolf


Come on America!
I watched an old episode of the Simpsons This evening, I think it was a Halloween special No.7 I believe? And there were two aliens impersonating President Clinton and Senator Bob Dole. And they spoke the words to a ever stupid earth! No Matter Whom you vote for out of the two , We still Win. Either Way! It`s a two horse Race! Are We complete fools? I think Maybe!

This is the bedtime story that I have penned to tell our children when they are old enough to understand:

It is now midnight. The reprieve from the House never came. The Switch is pulled, and Democracy in America has been extinguished. The Executioners were those that we Entrusted to care for our well-being. As the life wained from our bodies, our lives flashed before us. We thought of our loved ones, the sacrifices that so many made to secure our Freedom, our Founding Fathers, who escaped the Tyranny of Kings and Despots to establish that shining City on the Hill, now replaced by new Kings and Despots, with names such as Bush, Pelosi, Frank, Obama, McCain, and the list goes on. We looked at our children and our grand children, who were forced to watch our execution. With our last dying breath, we called out to them:


"Continue the Fight. Do not give in. Unite. Don't let the new rulers divert you with false arguments between two mythical political parties. They are just bread and circuses. We love you children, grand children. We leave you our spirit and our history. Use it wisely. Live to fight another day.
As part of our legacy, we have left you documents, hidden for safe keeping, that will, with proper care and use, allow you to once again light the flame of Democracy and Freedom. Those documents are our Declaration of Independence, and the Constitution of the United States, once revered as sacred, but on a Dark October Friday in 2008, burned by those despots that now control what is left of America. Read them, take their words to heart, and rekindle the flame of freedom and Democracy. It is our gift to you."

Please feel free to use it as your wish.