Pelosi's rabid anti Bush Speach killed the compromise

[glennac]

The stock market took the biggest hit ever today, down 770 pts. Nancy Pelosi's speech killed the bipartisanship compromise and angered lots of House Republicans and they changed their mind and voted it down. Great leadership on Pelosi. She snatched defeat from the jaws of victory. Good job. good leader a another great Democrat full of hate and venom.

http://www.usnews.com/blogs/sam-dealey/2008/09/29/nancy-pelosis-financial-crisis-bailout-partisan-train-wreck.html

"So what happened? A lot of fingers are pointing at House Speaker Nancy Pelosi, whose prevote speech (http://www.breitbart.tv/html/184803.html) was a galling display of partisan taunts rather than serious urgency.
Particularly inappropriate was her characterization of the Bush administration's "anything goes" economic policy, which supposedly resulted in the financial crisis. Here's how Pelosi summed it up: "No regulation, no supervision, no discipline. If you fail, you will have a golden parachute and the taxpayer will bail you out."

1.1 trillion was lost in the stock market today. I hope no one had stock.

[fixacr]

Give the poor lady a break. As desperately as they would like to, she and her fellow Dems have, as of this post, been unable to blame George Bush for the Chicago fire, the LIndburgh kidnapping and Pearl Harbor.:D

[RoBoTeq]

As much as I thought that calling Hillery, Hitlery, was a bit unfair, calling Pelosi, Nazi Pelosi, just doesn't seem to be out of line. What a witch, with a capital "B".

[mark beiser]

1.1 trillion was lost in the stock market today. I hope no one had stock.

Funny thing about stocks, you only loose money on them if you sell them for less than you paid for them.

The stock market falling by huge amounts this year is good for the long term investor looking to pad a portfolio for when he/she retires in 20+ years. ;)

[skwsproul]

1.1 trillion was lost in the stock market today. I hope no one had stock.

Their crystal balls failed to inform them that "Wall Street" would take an extra 400 billion dollar hit if they disapproved the bail out. I wonder how bad that hurts "Main Street".

I truly feel for those who are close to retirement. I am sure this will hurt taxpayers in the long run.

RE-VOTE ANYONE?

[mikethe ductman]

Got to give credit to the republicans, for the first time in all most 8 years they said no to a budget busting bill.
If they would have done more like they did today we might not be in as bad of shape as we're in now.

[frozensolid]

I wonder if all you partisans will still be gloating in a week. America picked a fine time to stand up to the Govt. And the Politicians picked a fine time to actually listen.

Pelosi was wrong and I guess the Reps really showed her. Just another example of putting ones Political Career ahead of doing the right thing. Don't forget to Blame yourselves when the dust settles.

[RoBoTeq]

Got to give credit to the republicans, for the first time in all most 8 years they said no to a budget busting bill.
If they would have done more like they did today we might not be in as bad of shape as we're in now.
Four years ago Republicans were screaming about the condition of Fannie Mae and Freddie Mac but the Democrats dismissed the concerns as being racist attititudes to prevent minorities from owning homes. Franklin Raines, who just happens to be Black, made 91.1 million dollars at his job with Fannie Mae and has a one million dollar a year for life bonus pay based on bogus numbers provided by Fannie Mae.



Friday, April 18, 2008 - Page updated at 01:45 PM
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Franklin Raines to pay $24.7 million to settle Fannie Mae lawsuit

By MARCY GORDON (http://search.nwsource.com/search?sort=date&from=ST&source=ST&byline=MARCY%20GORDON)
The Associated Press


WASHINGTON — Former Fannie Mae chief Franklin Raines and two other top executives have agreed to a $31.4 million settlement with the government announced today over their roles in a 2004 accounting scandal.
Raines, former Fannie chief financial officer Timothy Howard and former controller Leanne Spencer were accused in a civil lawsuit in December 2006 with manipulating earnings over a six-year period at the company, the largest U.S. financer and guarantor of home mortgages.
Raines, a Seattle native and prominent Washington figure who was President Clinton's budget director, is relinquishing company stock options, proceeds from stock sales and other benefits. His part of the settlement is worth $24.7 million,

Ironically, Fannie Mae and Freddie Mac don't fall under the jurisdiction of the Sarbanes/Oxley bill which is designed to prevent corporations from doing exactly what those running Fannie Mae and Freddie Mac did. Democrats manippulated the SOX bill to exclude Fannie Mae and Freddie Mac because Fannie Mae and Freddie Mac were pumping billions of dollars of lobbying money into the Democratic coffers.

Guess where Franklin Raines is today? He's Obama's financial advisor.

[RoBoTeq]

I wonder if all you partisans will still be gloating in a week. America picked a fine time to stand up to the Govt. And the Politicians picked a fine time to actually listen.

Pelosi was wrong and I guess the Reps really showed her. Just another example of putting ones Political Career ahead of doing the right thing. Don't forget to Blame yourselves when the dust settles.
We are just pawns in this game. All we know are the things that the media allows us to know. As information of recent history unveils, it seems that this whole mess was pretty much orcestrated by Democrats for the sole purpose of diverting money from Fannie Mae and Freddie Mac into the Democratic coffers.

Franklin Raines, the man who pilfered millions from Fannie Mae, is now Barack Hussein Obama's financial advisor.

I wouldn't be surprised if top Democrats are not planning on just sucking the U.S. dry, letting us collapse and them all move to France as very rich people while the rest of us relinguish into civil war and eventual take over by the Chinese.

[JRINJAX]

Funny thing about stocks, you only loose money on them if you sell them for less than you paid for them.

The stock market falling by huge amounts this year is good for the long term investor looking to pad a portfolio for when he/she retires in 20+ years. ;)
I agree fully, it is a buying moment, isn't it.

[mikethe ductman]

Did the economy take down the banks or did the banks take down the economy?
Its like if a car runs a red light and hits another car, you could say that the reason for the accident was one car in the path of the other, or you could go back before the accident and say if it was not for the car running the red light the accident would never have happend.
We we're warned about this train wreck way before fanny and freddie by a republican.




Former Treasury Secretary Paul O'Neill was told "deficits don't matter" when he warned of a looming fiscal crisis.
O'Neill, fired in a shakeup of Bush's economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from "the corporate crowd," a key constituency.
O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Cheney told the Treasury secretary he was fired.
The vice president's office had no immediate comment, but John Snow, who replaced O'Neill, insisted that deficits "do matter" to the administration.
Source: [X-ref O'Neill] Adam Entous, Reuters, on AOL News Jan 11, 2004

[model m-man]

Way to go Pelosi. Ain't it just great what hatred can do?

I don't think anyone in America liked this bill any more than going to the dentist. In reality though, both are necessary in spite of he pain. The really sad part of all this is that Congress had the chance to possibly stop a global depression, but hatred ruled the day. They have all but guaranteed it now and the effect's are not contained to Wall Street. Bank failures are now spreading throughout Eourope. History seems to be repeating it's self & those that think they are not affected either slept through history classes or are not old enough to have known those that lived through the last one.

The falling stock market is good only if you are a billionare with piles of cash. Anyone that has a retirement account now is up the creek. When your portfolio looses 30%, a 30% gain will not put you back where you were. It takes much more to gain it back as you are working with a smaller investment & it hasn't hit bottom yet.

Anyone with a better idea on a bailout had better speak up fast!

[mikethe ductman]

What congress man or women is going to come out and say that they voted no because a little bitter old lady hurt their feelings,so now they will make America suffer.
If that is realy the case what happend to "America first"
If some one voted no or yes just out of spite then it sounds like they lack the judgment to hold public office.

[JRINJAX]

The Pol Pundits today are talking about the fact that Pelosi picked the Dems that were facing tough re-election races to vote NO on the bail-out. She was counting on the Repubs to make up the difference.

This combined with the fact that the Senate was going to wait two days to gauge the "fallout" of the House vote before they had to decide/vote put enough water in the boat to sink it.

[acmanko]

Well, what really happened was a complete reject and vote of no confidence in the so called leaders we have in Washington. By leaders, I mean Democrat and Rebulican. The rank and file congressmen from both parties rejected the bill, as they should have.