[Vision2020] US House Votes Against Bailout
lfalen
lfalen at turbonet.com
Mon Sep 29 13:56:47 PDT 2008
Good list. Lets hope they are incorporated into the next try.
Roger
-----Original message-----
From: "Art Deco" deco at moscow.com
Date: Mon, 29 Sep 2008 13:06:49 -0700
To: "Vision 2020" vision2020 at moscow.com
Subject: Re: [Vision2020] US House Votes Against Bailout
> I too am against the current bailout as it is written.
>
> I am not against a bailout measure, however, provided that among other safeguards:
>
> 1. The bailout funds to financial institutions are loans collateralized completely by the borrower's best, not worst assets, valued at a realistic market value in today's market,
>
> 2. The loans are only made to those institutions which have a reasonable chance of survival,
>
> 3. No loans or other securities, bad/high risk or otherwise are purchased by the government. The government has almost no expertise in collecting loans or managing loan/security portfolios. The best of the banks and financial businesses do. Those homeowners in foreclosure and their lenders need to work together on altered terms to take care of those mortgages that appear to be salvageable. The taxpayers should not be held responsible for some very poor decisions, no matter who made them.
>
> 4. The fraud committed by lending/financial institutions and realtors in this mess should be investigated, and where warranted, vigorously prosecuted with heavy fines and prison terms levied.
>
>
> The president and congress should stop lying by saying the funds for the bailout are not going to come from the taxpayers. Where else would they come from or be held as debt against?
>
> In addition, I support caps on executive salaries and forbidding golden parachutes for executives in participating firms. In addition I support more intelligent, well-designed regulation and oversight including a return to a requirement of 20% down on real estate loans and capping the allowable monthly payments on real estate loans and their inclusions/accompaniments (taxes, insurance, etc) at 1/3 of the monthly earnings of a family (otherwise the probable risk to the family and lender is unacceptable (for those with long memories that's the way things used to be, and that served well for many, many years especially during the 70s and 80s boom years).
>
> W.
> ----- Original Message -----
> From: Kai Eiselein, Editor
> To: Ted Moffett ; Tom Hansen
> Cc: vision2020
> Sent: Monday, September 29, 2008 12:32 PM
> Subject: Re: [Vision2020] US House Votes Against Bailout
>
>
> I can just hear the cell phones ringing like crazy on Capitol Hill.
> Congressman: "Hello?"
> Wall Street Fat Cat: "What happened Congressman (insert name here)?
> Congressman: "Well, ummm, I got a lot of flak from back home."
> MSFC: "Let me tell you something, boy, those chumps in flyover land don't mean diddly squat in the grand scheme of things, I've got a place on Martha's Vineyard that needs to be renovated and a yacht that's being refitted."
> Congressman: "I'm sorry, sir."
> WSFC: "You and your friends had better get something passed, or else."
> Congressman: "Or else, what, sir?"
> WSFC: "Or else you won't get the nice, all expense paid junket to the Cayman Islands. And I'll stop setting you up with those pretty interns."
> Congressman: "Don't worry sir, we'll get you covered."
>
>
> From: Ted Moffett
> Sent: Monday, September 29, 2008 11:27 AM
> To: Tom Hansen
> Cc: vision2020
> Subject: Re: [Vision2020] US House Votes Against Bailout
>
>
> The US House had voted against the bailout when I first posted on this subject. History. This was based on "live" coverage of the US House floor on CNBC, with a running vote tally being taken. There was later a small vote correction that did not alter the outcome.
>
> When you posted about the live CNN stream, the bailout had already been voted down. Apparently, the "live CNN stream" is not so "live."
>
> The latest news is that the US House leadership plans a second attempt to pass the bailout bill.
>
> The Dow is now down about 450 points...
>
> Ted Moffett
>
>
> On 9/29/08, Tom Hansen <thansen at moscow.com> wrote:
> The Dow dropped 600 in "anticipation" of HR7175 (The Bailout) failing. It
> is being voted on RIGHT NOW on live CNN stream at
>
> http://www.cnn.com/video/live/live.html?stream=stream3
>
> Tom Hansen
>
> > This is news that just happened, so Internet sources are limited. I
> suppose
> > there is a possibility of vote changes, so this is not absolutely final.
> >
> > The Dow had dropped over 600 points at one point in trading today, though
> > now it is back up to a 350 point loss...
> > ------------------------------------------
> > Vision2020 Post: Ted Moffett
> >
>
>
> "Jesus was a community organizer and Poncius Pilate was a governor."
>
> - Marilyn Trail, sister of Representative Tom trail (September 8, 2008)
>
> ----
>
> "We're a town of about 23,000 with 10,000 college students. The college
> students are not very active in local elections (thank goodness!)."
>
> - Dale Courtney (March 28, 2007)
>
>
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> Kai Eiselein
> Editor, Latah Eagle
>
>
> ------------------------------------------------------------------------------
>
>
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> List services made available by First Step Internet,
> serving the communities of the Palouse since 1994.
> http://www.fsr.net
> mailto:Vision2020 at moscow.com
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