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How proud the people of Richmond must be that Eric Cantor is the one who destroyed the bailout talks and has destabilized the entire world economy.
September 26, 2008 | Permalink
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Thank God I live in the part of the City represented by Bobby Scott.
Rasmussen VA Poll, President:
September 26, 2008 at 01:25 PM
Unfortunately we're all hurt by his ineptitude and arrogance. What a douche.
Church Hill Dem |
September 26, 2008 at 02:02 PM
If you think that's bad...just imagine what Sam Rasoul will do if he gets elected!
September 26, 2008 at 02:05 PM
Eric Cantor is a disgrace to humanity.
September 26, 2008 at 02:30 PM
Sam Rasoul won't, so he's irrelevant. He's a nobody after election day.
Eric Cantor will probably be in Congress the rest of his life, or until he runs for Senate.
September 26, 2008 at 02:37 PM
Don't forget McBlinked couldn't corral more than half his party.
I hear Palin's comment was "In respect to that and this is the thing that they are in fact guys and gals going to do something, or a depression a second one like we'll never let the holocaust so passing it is the most important of things to do with maverickness up north where putin might rear up his bald head and take ANWR with a sputnik so yes, you'll have disagreement, but never, ever sit down and appease house republicans like henry kissingguy might."
Douche Nozzle |
September 26, 2008 at 02:40 PM
September 26, 2008 at 04:07 PM
September 26, 2008 at 04:53 PM
It is possible that with a little more discussion and some real thought, Congress may come up with something better.
Let's face it, all of us have made bad decisions when we are rushed and under pressure. With this much on the line, it is ok to think it through a bit.
September 26, 2008 at 04:55 PM
Anyone who supports the bailout is only prolonging the misery. The fed inflated the economy and the housing market in particular with cheap credit. Now instead of letting prices go back down to their market levels politicians are going to step in again and keep price arbitrarily high. This was done by Hoover and FDR on items like crop prices and wages, and it is why the Great Depression lasted so long.
We need to let prices fall and let the market work. It will be a short recession and then our economy will begin to grow again.
Read anything by Hayek, Hazlitt, Rockwell, or Von Mises and you will know just how destructive this bailout could really be for our economy.
Not Wayne Rooney |
September 26, 2008 at 05:23 PM
Wait, you liberal Democrats actually SUPPORT a $700B Bush-crafted slush fund for Wall Street, a major percent of which will go directly overseas to prop bad invesments by foreign funds?
At least Kos sees this deal as the insider, establishment BS it is.
And I don't believe Cantor is killing it, as he (alas) seems to be a creature of Boehner not the grass roots.
Oh, and WILL make the recession longer and deeper, as does every attempt to circumvent the market and reward bad economic behavior.
Mike Rothfeld |
September 26, 2008 at 05:49 PM
Hey homeboy Dems, if you and your boy-loving pedophile Chairman Barney Frank hadn't been so anxious to FORCE Fannie to grant "affordable" housing to folks that had no business getting the mortgages, we wouldn't be in this mess. So stew in your own s*** for awhile....
September 26, 2008 at 05:53 PM
I see someone is upset about the polls.
September 26, 2008 at 05:58 PM
If you received a call from a stranger who demanded that you pay his bar bill and bookie or he would ruin your family’s finances, you wouldn’t reach for your wallet.
But Congress is ready to reach for our wallets at the behest of President Bush and Wall Street lobbyists who threaten us with a 1932 style Depression if they do not get $700 billion for the debts of Wall Street gamblers and financial inebriates!
If private investors won’t buy Wall Street’s disputed assets, why should Congress force us to pay? The US Treasury wants $700 billion to buy bad loans at above market prices, and then auction them off for maybe cents on the dollar to the same Wall Street gangs causing this mess!
Bush wants to give former Goldman Sachs CEO and current Treasury Secretary Paulson powers equal to a one man economic dictatorship: “Decisions by the Secretary … may not be reviewed by any court of law or any administrative agency.”
This grand larceny, done while the FBI investigates the very companies Congress wants to bailout, will increase Wall Street’s financial philandering, not end it. A depression is more likely with Congress so generously rewarding bad behavior, rather than letting those who take risks, pay for the risks.
The $300 billion already given away in 2008 stimulus packages, bailouts and “loans” for investment banks, Detroit auto makers, mortgage giants, and insurance companies was supposed to fix the economy. Giving candy to one child doesn’t work.
Adding $1 to $2 Trillion to the national debt over 6 months when the federal budget and trade balance deficits are hundreds of billions in the red will increase inflation and decrease the purchasing power of our paychecks and savings.
Congress should stand up to extortionists, not pay them.
Delegate Bob Marshall |
September 26, 2008 at 06:05 PM
Part of the original Bush/Pelosi/Barney Frank deal was to give lots of money to ACORN. While I do not pretend to understand all of this, I do realize that ACORN is a corrupt organization that no one should fund, especially our tax dollars. So if Cong. Cantor can stop that expenditure, he's done a good days work.
kelley osborn |
September 26, 2008 at 07:01 PM
Why don't you provide a link for that, Kelley?
I swear ACORN is the Diebold of the right wing.
September 26, 2008 at 07:07 PM
Section 105(d) of the bailout:
TRANSFER OF A PERCENTAGE OF PROFITS.
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).
USE OF DEPOSITS.Of the amount referred to in paragraph (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 35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).
REMAINDER DEPOSITED IN THE TREASURY.All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt.
ACORN is one of the groups that gets funding from those sources.
September 26, 2008 at 07:16 PM
ACORN STOLE IT!!!!!onelevel!!!
November 7th |
September 26, 2008 at 07:30 PM
Like John McCain, I am too "old" or "befuddled" or just plain "stupid" to know how to link stuff. But I do stand corrected about the PROFITS thereof from the bailout. A percentage of the profits goes to ACORN, not a percentage of the bailout money itself. Couldn't that money be used to pay down the debt?
Thanks to the blogger who came to my rescue.
kelley osborn |
September 26, 2008 at 08:07 PM
Good to see all the liberals now rallying aroung Bush programs.
Obama says I was against Bush programs before I was in favor of Bush programs
September 26, 2008 at 08:53 PM
Ahhh, someone mentioned "pedophile." That's where Ben and Joey get excited!
Tina Turnips |
September 26, 2008 at 11:23 PM
Well at least Cantor is doing something other than repeating talking points. Even though he's screwing everything up, Cantor actually using his brain has to be a step in the right direction.
September 27, 2008 at 02:24 AM
Cantor is doing a great job holding up this bill. The big investment houses are stuck holding mortgage backed securities they paid X for but are now worth 0.5X. No investor is dumb enough to pay X for something only worth 0.5X, so they are turning to their favorite sucker- the US taxpayer, because the houses have to get rid of the bad paper from their balance sheets. If I bought a car for $30,000 and tried 3 years later to sell it for $30,000, I shouldn't be surprised when no one will pay that price because its no longer worth $30,000, and I shouldn't try to force that price upon the taxpayer. Two things history has proven- A.) The markets (and I don't just mean stock market, credit market too) always come back. B.) It always takes time.
not henry paulson |
September 27, 2008 at 04:35 PM
"Read anything by Hayek, Hazlitt, Rockwell, or Von Mises and you will know just how destructive this bailout could really be for our economy."
Missed Milton Friedman!
September 28, 2008 at 09:33 PM
Cantor voted YES on the bill.
September 29, 2008 at 10:33 PM
Connecting all the dots.
Madame Speaker of the House, Nancy "let em eat cake" Pelosi, and Harry "nepotism" Reid, refused to even ACKNOWLEDGE that the high gas prices and grocery prices were a CRISIS for the average AMerican, SHUT DOWN CONGRESS AND WENT ON VACATION, while the rest of the country struggled to make ends meet.
She REFUSED to allow even a vote on a viable ENERGY BILL that would provide relief from high gas prices.
During her vacation she and her husband became heavily invested in the The Pickens Plan, an energy plan that she said (during the last session of Congress) was not good for Americans. Now she and her husband stand to make gazillions when the legislation passed to support The Pickens Plan is passed in THIS session of Congress.
Worked as a rookie community organizer and legal defense attorney defending ACORN the criminal voter registration fraud organization that has fraudulently added hundreds of thousands of fraudulent voters to the voter rolls. They've stolen your vote, by doing so.
He has served 143 days in the Senate, has no leadership experience, but is not the Democratic candidate for President!
ACORN gave away mortgages to countless people and illegal aliens who had no security or even social security numbers, to be able to legal secure mortgages, and is responsible for the massive default on billions of dollars in mortgages.
And, in the latest proposed $700 billion dollar bailout of the Stock Market, the Dems, and especially Obama, want multiple millions of $$$ to go to ,,,,you guessed it,,,,ACORN!
We've already seen the beginning of the wave of new working homeless with the junk ARM mortgages that were defaulted on.
Now thousands of people who weren't lucky enough to be on the public dole and be given an illegal mortgage and can only rent, are about to be made homeless with all of the apartment building mortgages going into default!
THIS is the CHANGE that the DEMS promised you in the last election!
Things can get a whole lot worse!
Don't you forget it when you vote for President in November!
September 30, 2008 at 04:42 AM
I think it would be really interesting to get a Republican running against him in the primary. Themes would be his craven behavior in leadership (following Bush bailout) and lack of real principles. Just a part of the Republican Congress that lost it's way. I think we could make his life very "interesting" in the Chinese curse "may you live in interesting times" way. Know some real sharp ex-military officers, working for Richmond employers. Cookie cutter "candidate looking". And smart as whips. Plus about ready for a scrap.
October 01, 2008 at 04:00 PM
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