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Old 09-28-2008, 03:51 PM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375

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Okay, Nancy . . . explain to us how this isn't gonna cost the taxpayers. When inflation skyrockets, please come back for another press statement and explain that to us - how this bail out did not cost the taxpayers.

Oh, okay, y'all are gonna just print up a bunch of greenbacks . . . and that is not gonna affect taxpayers.

The bottom line is - companies cannot pay the Treasury back in five years if that company is no longer in existence . . . but golly gee, thank you Ms. Pelosi for letting us know this won't cost taxpayers.

Yes, something had to be done . . . but please . . . don't pander to us.
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Old 09-28-2008, 04:19 PM
 
Location: Albemarle, NC
7,730 posts, read 12,715,889 times
Reputation: 1505

YouTube - McCotter Rejects 700-pound Billion Dollar Bag of Dung

Michigan Republican McCotter makes a LOT of sense. He's mad too.
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Old 09-28-2008, 04:29 PM
 
Location: America
6,987 posts, read 15,487,186 times
Reputation: 2067
i think Pelosi needs to learn/understand the concept of inflation.
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Old 09-28-2008, 04:30 PM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
What people are not thinking about . . . Dodd gets his campaign contributions from hedge fund managers located in his state. Just follow the money and the American public can see who has backed this bill and why . . . and especially - who has PUSHED THIS THROUGH.

I just read the main text from the Bill . . . and there is NO OVERSIGHT over Sec. Paulson. Dear lord.

Last edited by brokensky; 09-28-2008 at 04:42 PM..
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Old 09-28-2008, 04:32 PM
 
Location: Albemarle, NC
7,730 posts, read 12,715,889 times
Reputation: 1505
Quote:
Originally Posted by anifani821 View Post
What people are not thinking about . . . Dodd gets his campaign contributions from hedge fund managers located in his state. Just follow the money and the American public can see who has backed this bill and why . . . and especially - who has PUSHED THIS THROUGH.

I just read the main text from the Bill . . . and there is NO OVERSIGHT over Sec. Paulsen. Dear lord.
I thought there was going to be an independent inspector created by Congress?
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Old 09-28-2008, 04:32 PM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
Quote:
Originally Posted by paperhouse View Post

YouTube - McCotter Rejects 700-pound Billion Dollar Bag of Dung

Michigan Republican McCotter makes a LOT of sense. He's mad too.
Everyone should see what McCotter has to say. Really appreciate the link, Paperhouse.
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Old 09-28-2008, 04:37 PM
 
Location: Right where I want to be.
4,507 posts, read 8,029,400 times
Reputation: 3332
Ani...do you have a link to the text?


It makes me angry that the same people who pushed us out of the boat now want us to applaud them for pulling us back in....wet, cold and waterlogged but we are supposed to be happy to see their smiling faces in front of the cameras?? Sorry Nancy...no smiles from me!!
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Old 09-28-2008, 04:37 PM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
Quote:
Originally Posted by paperhouse View Post
I thought there was going to be an independent inspector created by Congress?
Me, too. I am trying to get the "official" website w/ the text to open.

Here is supposedly the official link:

https://financialservices.house.gov/

I was reading off the WSJ site and I have misspoken, as I now realize what I was seeing was the last text given to the public BEFORE this weekend. So hopefully, Paulson does not have total oversight.

Last edited by brokensky; 09-28-2008 at 04:42 PM.. Reason: misspell
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Old 09-28-2008, 04:41 PM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
Supposedly there is a link on this site that will provide a PDF of the text of the bill as it reads at this point:

Full text of the bailout bill (subject to revision) | Money & Company | Los Angeles Times

Also, you may enjoy reading the comments on that site.
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Old 09-28-2008, 04:50 PM
 
19,183 posts, read 28,386,276 times
Reputation: 4002
The Comptroller of the Currency has continuous oversight. A Special Inspector General's Office is created. There is judicial review of the Secretary's actions.

Rep. McCotter is full of hot air. There is not a single salient point in that rant.

The government does indeed stand to make a profit on many of these assets. It also stands to take a loss on many of these assets. One thing is certain...at the end of it all, the $700 billion will not cost anything near $700 billion.
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