• Mike Pence,  Nancy Pelosi

    The Nancy Pelosi Videos of the Day

    Speaker Nancy Pelosi – Emergency Economic Stabilization Act of 2008, Part 1

    Part Two

    Republican Representative Mike Pence of Indiana’s statement.


    “Today Congress took a stand for the American taxpayer and free markets. The American people rejected this corporate bailout and today the People’s House did likewise.

    “It is now imperative that Congress come together and develop a response to the crisis facing our financial markets that reflects the American people’s belief in personal responsibility and fiscal discipline.

    “There are alternatives to the massive federal bailout that Congress rejected. I look forward to working with my colleagues in both parties to develop a response to this crisis that puts taxpayers first and preserves the essential freedom of the American marketplace.”


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  • Democrats,  economics,  GOP,  John McCain

    Why the Democrats Did Not Pass HR 3997 – the Financial Bailout Bill

    Obama Never Took A Position On The Bailout Bill

    Obama’s equivocation in voting “present” (in the video above) and if the House Democrats voted for an unpopular bill then they would be vulnerable in the November elections.

    Duh!

    The House GOP members knew they were being sandbagged by the House Democrat leadership and President Bush – hence the GOP votes against the plan.

    Will McCain get it?

    Only if he wants to be elected……

    Update:

    McCain just read a “milk-toast” statement not reflecting the rancor and angst among American voters. Mac better kick it in gear if he wants to win the Presidency.


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  • John McCain,  Mitt Romney,  Sarah Palin

    Mitt Romney to McCain: Let Palin Be Palin

    McCain and Romney 9 28 2008

    Republican presidential candidate Sen. John McCain, R-Ariz., left, accompanied by former Massachusetts Gov. Mitt Romney, speaks at an economic roundtable, Wednesday, Sept. 24, 2008, in New York

    Mitt Romney correctly criticizes Team McCain on the handling of Sarah Palin.

    “Holding Sarah Palin to just three interviews and microscopically focusing on each interview I think has been a mistake,” Romney said. “I think they’d be a lot wiser to let Sarah Palin be Sarah Palin. Let her talk to the media, let her talk to people.”

    Palin’s limited availability to the press has been repeatedly criticized by Democrats.

    Romney, who was on McCain’s running mate short list, said that, ultimately, Palin’s “maverick” credentials will boost the GOP ticket in November.

    McCain’s handlers are renown for micro-managing. Remember the Soren Dayton flap early on?

    Let Sarah hit the talk shows and even SNL with Tina Fey.

    Next, bring Mitt Romney back to Washington to help craft a GOP successor to the disastrous bailout bill that failed to win passage in the House today.


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  • Democrats,  economics,  GOP

    House Defeats Bailout Bill – What Now?

    House-defeats-bailout-bill

    HR 3997 was not passed.

    The House on Monday defeated a $700 billion emergency rescue for the nation’s financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive into recession without it.

    Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.

    Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home. Despite pressure from supporters, not enough members were willing to take the political risk just five weeks before an election.

    The fact is the American voters did not support this unprecedented government intervention and do not believe President Bush or Congressional leaders.

    Now, both Barack Obama and John McCain should get their asses back to Washington and work with their respective parties to craft an acceptable compromise solution. Or, get the hell out of the way and let the free market correct the largess of the housing bubble.

    Update:

    The roll call vote is here.

    Flap’s Congressman, Elton Gallegly voted NO.


  • Democrats,  economics,  GOP

    Is the Bailout Dead? House Debate is On

    +++++Scroll Down for Updates+++++

    HR 3997 has failed to win passage in the House

    Quite a kerfluffle on C-Span with the House debating HR 3997 – Financial Markets Bill.

    Flap will make comments in the right sidebar under Twitter Updates ———>

    Or Follow Flap on Twitter.

    In the meantime watch this video on the Democrats saying:”What Me Worry?”

    At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.

    Update:

    Remember when Europeans were ridiculing the United States last week? They are NOT laughing so much now.

    Their solution – nationalize their banks.

    Update #2:

    Gallup Poll says Americans blame Bush and Paulson. Obama is handling crisis the best.

    gallupbailout

    But, what has Obama said? He generally approves of the compromise bailout plan of Bush and Paulson.

    Amazing……


  • Barack Obama,  John McCain

    How McCain Wins?

    electoral-vote-september-29

    Graphic from Electoral-Vote.Com

    In today’s state of the Presidential race, Barack Obama wins the Presidency with 286 electoral college votes. Since last week when financial news has dominated the race, John McCain has cratered in the polls.

    Can John McCain come back and win this race?

    Perhaps but it will be an uphill battle.

    McCain has fumbled the ball in the red zone by not “dealing” with the financial crisis when he had the opportunity pre-debate Friday. He left the campaign trail to return to Washington, suspended his campaign and had an opportunity to “own” the issue. The bailout plan is a disaster and not supported by a majority of American voters, yet McCain says hold your nose and support it. No leadership there – just more of the same.

    As voters become more comfortable with a President Obama and McCain offers nothing different, undecided voters will flock to the Democrat. Voters want change from the Bush Administration of inaction and then another “screw-up.”

    McCain has offered none of the above and will lose.


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  • Del.icio.us Links

    links for 2008-09-29

    • (tags: bailout gop)
    • Are we going to have an October surprise, an attack on Iran by either the Bush administration or by Israel to stop the regime from becoming a nuclear power?

      It could happen – and alter the dynamics of the presidential race in the blink of an eye – but only if Israel pulls the trigger. Don’t expect the United States to drop bombs anytime soon. The reason: Iran has us over a barrel.

      According to Britain’s Guardian newspaper, Bush earlier this year nixed an Israeli plan to attack Iran’s nuclear facilities. Reportedly, the President said no because we couldn’t afford Iranian retaliation against our troops in Iraq and Afghanistan or Iran closing down Persian Gulf shipping. Nonetheless, cynical speculation is now swirling in some quarters that with the financial collapse working against McCain – and Bush’s legacy coming into focus – the President might reconsider. Could that tail really wag the dog?
      +++++++
      Possible but not probable

      (tags: iran israel)
    • In a closed-door session with House Republicans Sunday evening, Minority Leader John A. Boehner called the $700 billion financial rescue deal a “crap sandwich” — then said he plans to vote for it.

      House Republicans are the key to the bill’s passage Monday – Speaker Nancy Pelosi said Sunday that it’s a “bipartisan” bill and will need “bipartisanship” to pass – and it now appears that many will cast their votes in favor of it.

      But many Republicans still harbor deep misgivings about the legislation, and the outcome remains uncertain. Asked Sunday night where the support stood for the legislation, Boehner told reporters, “We don’t know.”

      “We’ve made it pretty clear to our members that we are supporting this bill,” Boehner told reporters after the meeting. “We also have made it clear to our members we expected as many of them who could vote for this to vote for it.”
      ++++++
      A crap sandwich indeed…..

      (tags: gop bailout)
    • Because while the mortgage crisis convulsing Wall Street has its share of private-sector culprits they weren’t the ones who “got us into this mess.” Barney Frank’s talking points notwithstanding, mortgage lenders didn’t wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so – or else.

      The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and “redlining” because urban blacks were being denied mortgages at a higher rate than suburban whites.

      +++++++

      What is wasn’t Reagan and deregulations fault?
      Fancy that……..

    • On Fox News Sunday this morning Bill Kristol said let Palin go – that the McCain team is roping her off from the press and surrounding her with Bushie advisors, which sounds like the third ring of hell. She’s a talented politician, Bill advises, so let her out to do what she is good at doing. I think Bill is mostly right.

      Palin is under extreme pressure. But walling her off will only increase that pressure. She needs the give and take with crowds and with the press to get her feet back under her.

      That much having been said, and here’s where I slightly disagree with Bill, Palin was atrocious not just with Katie Couric but with friendlies like Sean Hannity. She needs to devise answers for questions about foreign policy that do NOT rely on recent cramming. That will look and sound false. She may make stupid errors. And it plays to her weakness. She should never again refer to her Alaska experience as preparation for the role of commander in chief.
      ++++++++
      Let Palin be Palin

      (tags: sarah_palin)
    • Indeed
      (tags: Mike_Pence)
    • On an afternoon conference call, Sen. Lieberman also says Obama’s claim that McCain’s response to the financial crisis was “Katrina-like” is “just more politics, and simply not true.”
      ++++++++++
      Why McCain should not have debated Obama, remained in D.C. and should have submitted his own version of bailout.
    • (tags: daybyday)