John Boehner, Roy Blunt, Eric Cantor and other members of Republican leadership supposedly believe the US Government must take the extraordinary step of bailing out Wall Street to the tune of $700 billion to save our economy — but also believe it is justifiable to scuttle a bill because Nancy Pelosi was mean.
I believe we could have gotten there today if it weren’t for Speaker Pelosi’s partisan speech.
Barney Frank responds:
Somebody hurt my feelings, so I will punish the country. That’s hardly plausible. And there are 12 Republican members who were ready to stand up for the economic interest of America, but not if anybody insulted them.
I’ll make an offer. Give me those 12 people’s names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are and maybe they’ll now think about the country.
If members voted against the bailout because they believed it’s wrong to hand a gift to Wall Street, that’s fine. Many progressive Democrats did just that.
But if, like some House Republicans, you believe the bailout is necessary, and voted against it because someone was not nice, you belong in kindergarten, not Congress.






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Boehner apparently feels that tagging his members as crybabies is preferable to tagging them as people who oppose the bailout because the Dems added some provisions to help the little guy, penalize the rich schmucks who created this mess, and make a start at reinstating the safeguards that the GOP — led by Phil Gramm — started ripping out with abandon once they got control of Congress in the 1990s.
They wanted to hold another presser so Marsha Blackburn and Michele Bachmann could smile at the camera and remind the viewers how Republicans have a better plan and they are ready to go to work “Right now and work until America has a plan to address this crisis!”. They are grandstanding this just like the energy bill during the last recess.
The Dems are going to regret taking this break, even if it is for the religious holidays. There are few, if any, Jews in the Republican Caucus and the market will be open the next two days. It will be nasty, I’m afraid.
LMAO Ari! The picture is perfect!
Yep, nothing but a bunch of crybabies for getting WHAT THEY WANTED. Are all republicans on drugs? I’m starting to think so because they never seem to think clearly.
If it was Christmas time, they would be working it. Israel has 150 nukes. It’s time for the Israelis to take control of their own lives and future just like the Iraqi government.
if he had held his elected office in the early Republic, he’d have been tarred and feathered and driven out of town in an ox-cart for sayin’ that.
i don’t care why they voted against it. i’m just glad they did. and i’d rather have some batshit crazy wingnut representing me today (so long as they voted against the wall street bailout) than my so called good progressive representative who voted for it. or obama who said he supported it.
some things are more important than how it can be spun and perceptions can be managed – and certainly the current economic crisis ought to be one of those things.
really hate to say it. but today i’m grateful for all who voted against the bill – regardless of the reason.
Are all republicans on drugs?
umm – maybe, but not Cryin’ John Boner. He said that the bill would separate the men from the boys, the girls from the women.
Then Nancy said something that hurt the delicate Republican sensibility, the Repubs bolted, and Bingo! – Boner was right.
Just not in a good way.
um sounds like some people want to have their cake and eat it too.
I don’t care what their excuse is. I am glad they scuttled this shitpile.
me too. but i’m enjoying the whining, crying and overall juvenile behavior. So I guess we have to wait for the grownups to arrive and actually do something
Whiny-assed titty babies.
From on the scene witnesses, Boehner and Blunt spent the roll call
picking their noses or trolling for interns while the Democratic leadership
was desperately trying to round up votes.
no grownups. only us.
LMAO! That’s exactly what happened today.
Allan, I think they thought it was going to pass and didn’t feel the need to really work hard. Hell, when have the republics ever liked working hard anyways? Never. They’re the lazy Monopoly Bankers of our time…well…unless they want a bailout…then they fly off their chairs!
I thought of us as the grown ups *g*
I understand Cantor will be challenging Boehner for leadership next congress. Hope that fails, as Boehner is ineffectual.
I’ve seen Cantor on c-span enough to know I cannot stomach the man.
I’ve seen Cantor on c-span enough to know I cannot stomach the man.
I’m amazed that the guy can find his way to work every morning.
Bernanke just printed $630 billion. This is even better than the bailout. A direct cash infusion with no strings attached. Like the bailout – banks are not required to lend this money to customers. Maybe Goldman Sachs won’t get the lion’s share of these funds.
As I’ve brought up previously, I was for the bill.
It’s easy to rail against “greedy wall street types”, but they aren’t who is going to be most affected if this bill, or something like it, doesn’t get passed.
When a house is on fire (think our economy), you first put out the fire, then go punish who started it.
If you (or a parent, grandparent, etc,) have money in an IRA, 401(K), deferred comp plan, etc. this could get very ugly.
In fact, many may have lost 5-8% of their account value today alone.
If you own a home, without some sort of bill being passed you could see your value drop another 10-15% over the next few months.
Teachers, police, fire fighters and other public employees (hardly greedy Wall Street types) whose retirement income primarily comes from state pension funds could see large reductions in their monthly income and increases in any co-pays they have.
Wherever you draw a paycheck from might tell you you’ll have to wait to get paid because the line of credit they use for payroll (more common than you know) has been frozen or revoked due to the credit crisis.
Again, I’m as mad at the people who caused this as you are, but cheering for financial meltdown isn’t good for anyone.
This really needs to be said, Ari.
Thank you.
not cheering a melt down. just thing in the end it would have been worse if the bailout had passed and pauls was in charge of spending it.
I know this is a fairly common practice but I’ve always considered it bad policy and, generally, just nuts.
The way I see it, the House Republicans took a shiv to McCain today and, judging by the look on his face during the “I blame Obama, but now’s not the time to assign blame” presser, he knows it.
They must not like him very much.
I don’t have a single share, a 401K or own a home. The only thing that matters to me is the cost of food, gas, rent and clothes. I have no heirs or children to worry about, no parents. I do have a boat and when this nation tanks I will sail away to the tropics and eat coconuts and bananas. hahaha
Tokyo now down 5%, Sydney down 4%.
And it’s ALL the fault of the Angry Left.
Looks like a lot of people are playing the fiddle while the economy burns on both sides of the political spectrum. It would be nice not lose my job, and then shortly after that my house over political principles.
I’ve been on the same page with you all day. I don’t relish any kind of economic meltdown but this bill was not a solution. Kucinich on Democracy Now! today said we needed to sit down and really figure out what we needed to do rather than just throw money at Paulson and trust him and his cronies to resolve something. Credit keeps money flowing, ensuring a robust economy. The fact that we base our economy on the ups and downs of Wall Street is crazy.
This might cause the whole idea of credit to come back down to earth. Companies need to pay their bills on time and not be relying on so much credit. Bad policy and irresponsible.
I would suggest not focusing so much on Paulson.
He’ll be effectively out of his position in five weeks, and officially out in 4 months.
Assuming Obama wins, hopefully some responsible adult will be in charge of administering the program.
Sold my 5.7m G-Cat a few years ago but other than that I’m in the same position you are. There are some advantages to bein’ poor.
The market does not represent the value of the companies who shares are traded there. Ignore the market – it’s just a casino…
The less you have, the smaller your footprint, the less you have to lose and dispose of. Less is more.
Many companies get large payments on contracts quarterly, twice a year or even annually, yet payroll comes around every two weeks or so.
A line of credit used in that context is entirely appropriate.
My only hangups are my animals and books.
Lucky you, but most of the rest of us aren’t so fortunate.
I don’t think it’s remotely funny.
I’d try to find a better way to manage my accounts payable and receivable. As an individual I hate paying any kind of interest. If I were a businessman I think I’d hate it even more.
Let us not place blame. Let us not blame Mr. Moneypants. I must totally disagree.
I can only speculate on the coverups and crimes at Carlyle, GS, and the rest of the Bush Crime Family. There needs to be A REAL INVESTIGATION NOW-not a 9-11 Commission Coverup.
That’s a truism I wish folks would realize. With analysts calling for x amount increase in earnings every quarter to boost share prices for speculators there is no longer any real relationship between market capitalization and value.
We’re Americans and we vote!
The greatest mistake Americans could make at this moment in our history would be to take the heels of our boots off the throats of those who had voted in the affirmative for this crap legislation. Politicians of every stripe finally got what they deserved and they made the biggest mistake in the world in awaking the sleeping giant known as WE THE PEOPLE.
Killing this bill today was the first step in driving a stake through the heart of the beast known as the Federal Reserve system. if those that voted against this bill were to cave now, we might as well go down the sewer with those who believe that government only has our best interests at heart when all they care about is protecting those on Gall Street that have been screwing us for decades. It is time to end this, but the only way to do it is to keep the pressure on each and every one of our representatives rather than listen to the fear mongering coming out of sound bites from the MSM.
The market could easily go down another 3,000 points and life will go on except for the Fed. Learn your history. Patriots know that the Constitution never called for a Central Bank. Jefferson wrote extensivley and warned us. Don’t give up the fight now as once we have won many things will change for the better. Keep writing to your elected officials. Commend those who voted nay and keep hammering at those who voted in the affirmative. Send a clear message to Washington that slavery ended over a century ago and we’re not going back. Mondern day slavery is living a life of debt built on more debt. Just say no.
Republicans might want to hide behind the mask of “cry baby”.
When in fact republicans are the exact same criminals, Free market freaks that are willing to experiment for a free market approach to crashing the market and insighting the greatest depression.
The republican friedmanites that deregulated aAmerica into this now want us to allow them their free market answers to this.
May the bailout fight continue and may the Democrats give us something to vote for this election. But, There are NO good options here…………..
Boehner’s Babies
I totally agree with all of the above.
My point is we should not use Paulson as an excuse to not pass this bill, since he will effectively be out of power in 5 weeks.
Me too
What a puss John Boehner is. My God.