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Heather Wilson voted for the bailout bill today. I need to confirm this, but my source is usually accurate.
I wish she was still up for reelection so I could vote against her. According to my source in her office, it was about 20 to 1 against the bill. Regardless of her constituents wishes, she voted "yes" anyway.
No it wasn't 20 against 1, it was more like 220 to 205. Anyone who actually read the entire bill and did research would actually commend Heather for her vote. I spent the last three days diving into papers, talking on the phone with my personal investors, and my friend who is an economist in D.C., and I came to the conclusion that those voting against it, simply don't understand it.
Actually, the vote was 228-205 in the house. NewMexicoRepublican was undoubtedly referring to the general ratio of calls from constituents to Heather Wilson's office. I wouldn't be surprised if the calls ran 20 to 1 against the bill, and I've heard it was 30 to 1 and even up to over 100 to 1 against the bill for other representatives. Whether you are for or against the bill, the politicians did a very poor job of selling the bill to the American public. Secty Paulson got off to a horrible start with 2 1/2 pages that explained very little and basically asked Americans for a blank check. That would have been a tough sell for anyone, especially from an administration that has near-zero credibility. Even after all the changes that resulted in a 110 page bill, no one managed to get across to Americans how the bailout would connect with or benefit the American people at the grass roots level. The result is that many Americans, or at least those who called their representatives with a "thumbs down," saw that piece of legislation as a bill to bail out the fat cats on Wall Street. And with the timing here at the end of September, most politicians up for election are not going to go against the wishes of their constituents. The politicos now have the job of convincing "every day America" that the bailout is in their best interest.
As far as public support for the bailout, it was overwhelmingly against, almost any way it was broken down, whether by income level, race, gender or age.
The only exception was by education, specifically those with graduate degrees...and they split 50-50 on whether to support it.
Another thing to consider is that there were many, many economists who saw the bailout as little more than a gimmick. Guys from Harvard, Yale, Chicago School of Economics, etc.
No it wasn't 20 against 1, it was more like 220 to 205. Anyone who actually read the entire bill and did research would actually commend Heather for her vote. I spent the last three days diving into papers, talking on the phone with my personal investors, and my friend who is an economist in D.C., and I came to the conclusion that those voting against it, simply don't understand it.
The 20 to 1 was the calls from the public against the Bill. Not the vote.
My banker and stock broker were for the bill to. That is how they make their living. I have personally suffered a large loss, but am still opposed to the bailout.
NewMexicanRepublican, I see where you get the 20-1 now.
See, but its not really so much a bailout for all these evil people as people are making it. It is a bailout for the economy. The money goes to buy these bad mortgages from the banks. The banks now have money so that they can lend people and business what they need; this way entrepenuership is not oppressed (which would happen without this package). The government holds on to these mortgages until the housing market rebounds and then sells the mortgages for profit. Hopefully (and here is the part that makes me skeptical) the profit is either used as a tax break or a rebate for the tax payers.
That's o.k. as they all have blood on their hands in many votes they cast but i'm still a Heather guy as i despise both Pearce and Udall.
She's rumored to be McCains choice for Sec of Defense if he wins.
I have to agree with you: I know Pearce pretty well and couldn't believe he beat her in the primaries, of course he did the same think to Ed Tinsley 6 years ago when they ran for congress.
As for the bill, I think many have mixed feelings. I was disappointed to see it go down just because of the drop in the market, but I think there many be a better one out there, let's hope. I can understand why she voted for it, even though I am not sure it was much more than a band aide. I didn't read or study it all that closely, did hear, like so many bills, by the time it got to a vote it wasn't quite the way as it started out to be.
Nita
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