Read the “Bailout” Bill that was voted down

The Nay's Have it!

Some Highlights of what they tried to pass:

• Throw a TARP over the Problems: “Troubled Asset Relief Program established under this Act on the activities and performance of the TARP.” (p. 6 & 49)
• Oversite- (Weren’t they already doing that with Fannie & Freddie?) “It shall be the duty of the Special nspector General to conduct, supervise, and coordinate audits and investigations of the purchase, management, and sale of assets by the Secretary of the Treasury” (p.63)
• Increase Debt Limit – (I think that’s $11 Triillion Dollars) Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting ‘‘$11,315,000,000,000’’. (p. 68)
• Taking Care of Their Own, AGAIN– The Oversight Panel may appoint and fix the pay of any personnel as the Commission considers appropriate. (p. 74)

Click Here to Read the entire mess as proposed and thankfully rejected:subprime-bill

Perfect Together

The campaign goes on… Each day we wait to hear the Uber Intellectual Joe Biden share with us from his vast storehouse of little know facts. In fact, they seem only to be know to Joe. For example:

• FDR’s TV Talks when the Stock Market crash in 1929 (Problems: FDR wasn’t President, TV did not exist)
• His Helicopter was “Forced Down” over Afghanistan (Problem: It was not due to Hostal Fire, it was due to snow)
• Paying more taxes is Patriotic (Problem: Charles Rangel as spokesman for the Un-Patriotic American)
• Today, he said he was “Under Fire” while in Iraq (Problem: he later amended his comment to “I was near where a shot landed.” 

And that doesn’t even touch the 57 States that Obama visited (with 2 more to go), the need for more Arabic speakers in Afghanistan. (Afghans don’t speak Arabic, they speak Dari and Pashto.) And don’t forget, He has a bracelet too.

They are perfect for each other.

No Deal Nancy…

 

Words have meaning… Don’t expect Conservatives to take a verbal slapping from her, then tow the line and vote for this horrible bill.  For Ms. Pelosi to tell republicans that it was “Unpatriotic” to not show up until today… (If they were paying taxes over the past few days, according to Babbling Joe Biden, they would be patriotic I guess).

The Original language had 20% of the returned “profit” to go to organizations like ACORN:

Barack ACORN Obama

1. DEPOSITS.Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as provided in paragraph (2).
2. USE OF DEPOSITS.Of the amount referred to in paragraph (1)
   1. 65 percent shall be deposited into the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Regulatory Reform Act of 1992 (12 U.S.C. 4568); and
   2. 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).

There is a better way that will not leave Hard Working Americans holding the bag for the poor choices of democrats and their cash grabbing government-sponsored enterprises” (GSEs) like Fannie & Freddie.  Mrs. Pelosi, yours was the straw that broke the conservatives back.  Thanks for not being able to shut up and keep a civil tongue today, it ended up helping America.