Who are the 10% who had no opinion? Wall Street? LOL

Well, the Wall Streeters are more likely the 20% who favor the original bill. My guess is they really are only about 0.2% but they leveraged this 100:1.

great data. thanks jim.

lol. gotta love that leverage.

Sigh.

Nicely composed diary, though, Jim. Well done!

Thanks, Pach. (Although the chart is larger and much more readable in preview than in the post.)

Yeah money lets them have 100 to 1 leverage in Washington it used to be called BRIBES!

There’s a very good reason Our Founders prohibited the aristocratic Upper House from originating revenue bills. Taxation should be close(r) to the People, and thus start in the Lower House. The Senate is always happy to protect, and further coddle if need be, the Oligarchs.

Excellent diary, and very timely, Jim. 74-25

Surprise No Votes: Stabenow, Feingold, Dorgan

Grand Theft Congress – nothing short of a taxpayer revolt can take them down.

The graph in this post best expresses what I have been asking for all week. The netroots missed an opportunity to organize Strangebedfellows and get organized on the major points for a bill.

Ian’s posts have been nice (as others), but there has been NO coordination on the netroots level. No clear leadership and coordination for presenting another plan. So, we sit around and blame Congress?

When the netroots cannot be part of the solution, there is no room to sit around and point fingers.

There was TONS of room for organized leadership on this and it fell short.

Maybe if there had been a netroots effort on the scale of the FISA battle, I would know we did everything possible to bring change.

There is still time. I wonder IF the netroots can honestly step up?

How can we blame Obama, when our greatest resource on this issue, the “we the people”, was never pulled together to exercise good stewardship? The “People” wait…

I agree. Although in partial defense to the netroots, I think the administration learned from the FISA battle not to give us much time to organize things. Congress has indeed been inundated (see selise’s great diary on the limitation put in place for email to Congress) with contact from citizens on this issue, so it’s also not like they don’t know the people (and not just the netroots) are upset. Sadly, as with FISA, I think that Congressional leaders are determined to push through their version and don’t really care what we do.

Respectfully, we had as much time as many in Congress and we could have done more. And I read selise’s diary on the limitation on email. It just solidified my perspective that enough was not done by the netroots.

The one aspect of our founding Father’s which is of great import…They were doing something in history effectively, for the “first” time and did not quit. The netroots has been a “first time” movement too. If we continue to “care” about the fact Congress pushed through “their” version on FISA and quit, the the netroots is effectively “dead” and is no longer a movement for the People, by the People. It’s. Just. Talk.

Why on earth did we have dialogue about “the next time” after FISA? Hot air?

klynn, my criticism of obama does not preclude self criticism.

maybe i’m wrong, but i see the problem as one where many (most?) progressives who identify as democrats think pushing for something different that what the dem leadership wants is unhelpful to their goal of winning in november. ie – don’t say anything that might make the dems looks bad.

if that’s the case, i’ve been brain dead on what to do about it. although late tuesday night i decided that what i was doing was just making things worse and my very early new years resolution is to try to focus mostly on just providing information and attention to the issue.

but i’m definitely open to suggestions if you have any.

Another part of my disappointment is that I got very excited when I heard that the Progressive Caucus was putting together a proposal. I was ready to see a huge effort jump behind that plan. Then I was devastated when the very first provision in the plan was to remove the mark-to-market provision in accounting for the toxic securities. This is exactly the opposite of what I think needs to be done and represents another move away from responsible oversight and transparency in the market. I wonder if this plan turning out to be so bad had some impact on others out here. I know it sure took my enthusiasm away.

Yet, I am still excited by the efforts of Lloyd Doggett and others to put forward a plan based on government purchase of mortgages (as in the FDR plan that worked!) instead of sliced and diced securities. Think I’ll go see if that has come to a complete proposal yet.

So why didn’t you step up, if it was so easy.

Hey, selise, my aknowledgement that I read your diary was in no way a criticism. Gosh, you are a voice I count on tremendously here. And you are quick to offer insight and suggestions of points to contact legislators on as well as quick to help with interpretation of the legislative process.

I am simply focused on the needed netroots power (in this case, lack there of) to organize on probably the most important issue to face our desires as a sovereign nation since our founding.

Yet, I am still excited by the efforts of Lloyd Doggett and others to put forward a plan based on government purchase of mortgages (as in the FDR plan that worked!) instead of sliced and diced securities. Think I’ll go see if that has come to a complete proposal yet.

JimWhite,

We need to organize around this NOW. Ian did do a good job yesterday pointing to the plans that are organizing around Isaac’s and Galbraith’s suggestions and encouraging calls.

With FISA, it was quite mobilizing to go from blog to blog and read a unifying voice on the issues. That Strangebedfellows issued the same calls on the FISA concerns.

There is power in the leadership of Jane, Christy, EW, Glenn G and others. even if economic concerns are not their specialty, they have influence to bring a unified voice.

An unorganized citizenry on big issues is a “lack of power” legislators count on.

Part of my influence in my thought…I am reading Joseph Ellis’ Founding Brothers right now.

I did a number of times. Posted phone numbers and did a great deal of pointing to documents that were solid to support.

But I do not lead this blog.

jim – i wish there had been more details available on the progressive caucus plan because i need some detail on what replaces mark-to-market before i can form an opinion on their plan.

generally, i agree that market price (and not some made up maturity price) should be used. but right now there is no market. i think that’s rational, because no one knows what’s being sold. paper chasing paper is what it looked like to me.

so, imo, the solution has to include some way to make a market, but a market that is based on something real. not the valuation on the upside of the bubble which was totally divorced from the underlying contracts – but also not the valuation on the downside of the bubble which is also totally divorced from reality.

this is what markets are supposed to be able to do for us – find a rational price. but during bubbles (on the upside as well as on the downside) that’s not the case.

hugh has suggested one way to do that, i expect there are others. but whatever method is used, that i think those details are what makes or breaks the first item on the progressive caucus plan. and i just haven’t seen any details on it.

so, while i can’t get behind the plan itself without knowing more (and indeed knowing more may cause me to reject it), i do support the process of deliberation that they are attempting to use.

how to fight back in the midst of a shock doctrine panic is, i think, something above and beyond the fisa fight. and something that i’m now convinced we need to give lots of thought to – not just for this issue, but for all the ones i expect they are going to attempt on us (and my “they” included obama and the democrats).

That would be “acknowledgment”…

…so, while i can’t get behind the plan itself without knowing more (and indeed knowing more may cause me to reject it), i do support the process of deliberation that they are attempting to use.

how to fight back in the midst of a shock doctrine panic is, i think, something above and beyond the fisa fight. and something that i’m now convinced we need to give lots of thought to – not just for this issue, but for all the ones i expect they are going to attempt on us (and my “they” included obama and the democrats).

Well said.

(my bold)

klynn – i thought your criticism was quite helpful, not personal or mean. i think we’re on the same page (or at least close). it’s just that for me the first place to start is to ask myself, what are the main things i can learn to do differently? – because that’s what i have the most control over.

i was also very surprised by the lack of live threads during the day on the hearings and congressional floor actions. but there was no problem with us live blogging events as OT during the threads and many of us tried to do some of that. so i’m grateful for the place we have and if the people we’d expect to lead on this issue did not – then i guess that’s a message for us to adjust our leader based thinking and find other ways to organize actions.

this is one of those times i think the secrecy and lack of transparency around the townhouse listserv (or others like it) works against us.

but i still have far more questions than answers. and the more i thing about these things, the more i think i don’t know or have had wrong.

maybe the oxdown diaries will be a way to self organize more? as we are doing here in continuing the conversation?

Let me suggest organizing on a town by town basis. Most towns have their checkbooks on computers and right to know laws should get the town’s checkbook online. I think people would like to know where their money goes. Large cities present a problem of scale, but we have to crawl before we can walk. The site needs to be created (way beyond me). Identical sites must be used so you work one site you work them all. Towns can compare expenditures and ways of doing things. It would be helpful for local government and it could, if we figure out a way, organize demonstrations or other collective actions in every town. Could also, should the desire arise, turn into a third party.

Now for the hard part. How to connect the sites for meaningful discussions. If there’s no way to reach some sort of agreement, the various sites become a bunch of blogs with comments. On FDL, there’s an effort in this direction with a variety of connected blogs, but the reach is neither broad nor effective. It’s preaching to the choir. When someone speaks of netroots, I’m assuming they mean organizing phone calls, faxes to congresspeople. That doesn’t work, but perhaps people need more proof. There’s also a problem of trust. No one wants to agree to some sort of demonstration on line and show up to find he or she is alone.

People seek leaders, but that’s not the way to go. We need to develop a voice as citizens. It’s not a matter of finding someone to elect who we hope represents our interests. We have to figure out a way to represent ourselves.

BTW I think Obama had to vote for the bailout, but perhaps in his heart of hearts he wants the house to ditch it. It’s impossible to know or tell at this juncture just as it’s impossible for him to lobby representatives to defeat the plan. Maybe he’ll fix it when he’s elected. He’s vague, but that’s politics. Get too specific and you’re dead.