Hats Off to Dorgan

[Sundance]

I applaud my Senator Byron Dorgan for voting NO to the
bailout plan. The plan is a joke and I am disappointed in
both Obama and McCain for supporting it.

We need "bottom up" cures for this economy. Not raining
cash on Wall Street.

[Derek]

Both my Senators voted for it. :(

Cornyn (R-TX), Yea
Hutchison (R-TX), Yea

[Galaxy]

Both my Senators voted for it. :(

Cornyn (R-TX), Yea
Hutchison (R-TX), Yea
Good for them! We need political leaders, not panderers in times of crisis.

[Galaxy]

If anyone still needs proof that this crisis can hit your own job, pocketbook, retirement, kids college education, or house here it is:
Crisis Hits Main Street as Employers Cut More Jobs (Update2)

By Shobhana Chandra and Rich Miller
Oct. 3 (Bloomberg) -- U.S. payrolls plunged in September, signaling the economy may be heading for its worst recession in at least a quarter century as the 13-month-old credit crisis on Wall Street finally hits home on Main Street.

Employers cut the most jobs in five years in September as cash-squeezed companies pulled back in an effort to bolster pinched profits. In its last employment report before Americans choose their next president, the Labor Department said the unemployment rate (http://www.bloomberg.com/apps/quote?ticker=USURTOT%3AIND) was 6.1 percent, a climb of 1.4 percentage points from a year before.

``If credit markets remain dysfunctional, the current recession could turn out to be as severe as any in the postwar period,'' said former Federal Reserve governor Lyle Gramley (http://search.bloomberg.com/search?q=Lyle+Gramley&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), now senior economic adviser at the Stanford Group Co. in Washington. http://www.bloomberg.com/apps/news?pid=20601086&sid=azGFdgjFefpI&refer=latin_america
Heckuva job Dorgan!

[Sundance]

You assume the the ONLY cure for this self inflicted
"crisis" is raining money on Wall Street...... Wrong
assumption IMO.

Just imagine if we dedicated $700,000,000,000.00
to rebuilding the infrastructure......... on the same
"emergency" basis. I contend that this would indeed
bolster the economy as much and likely more than
bailing out speculators.

Interesting side note..........

Wall Street was named from the wall that was built in
early New York to keep out wild pigs!! Seems the wall
failed as Wall Street is full of pigs.

[iddee]

For once I agree with Sundance on politics. I really can't see my tax money used to pay the ceo of WaMu 19 million dollars for 3 weeks "service". I won't call it work, it is more like a bull "servicing" a cow. Many millions more to pay other ceos for failing to do their job.

[pcelar]

They could have saved a ton of money.
There is 300 million of us.
They could have given each of us 1 million?
That would have boosted our economy. Not golden parachutes for crapheads who have caused this in the first place.

[JPK1NH]

They could have saved a ton of money.
There is 300 million of us.
They could have given each of us 1 million?
That would have boosted our economy. Not golden parachutes for crapheads who have caused this in the first place.

If I'm not mistaken 700B/300M equals about $2333.00 each.

[pcelar]

If I'm not mistaken 700B/300M equals about $2333.00 each.
Let's not be greedy now :)

[Swobee]

What would you do with that million$$, pclear... keep raising bees until it's gone? :p

[Scrapfe]

I applaud my Senator Byron Dorgan for voting NO to the bailout plan. The plan is a joke and I am disappointed in
both Obama and McCain for supporting it... Not raining cash on Wall Street.

Both of mine voted NO!!! (Shelby and Sessions,) and Sessions is up for reelection this year.

[BjornBee]

Both of mine voted NO!!! (Shelby and Sessions,) and Sessions is up for reelection this year.

Scrapfe,
Your right on target on the matter. Much voting in congress is along the lines of who can afford to vote one way or the other. Things such as who is up for election, who is "safe' in their district, who owes who a vote, and who is getting pork, all goes into the mix.

Nobody should be looking at who voted this way or that way. It's all designed to get results as a group most of the time while protecting their back ends. The very fact that the dems had enough to pass the first vote, shows they wanted votes from across the aisle so full blame could not be cast on one party. Nancy's famous speech, was actually designed for AFTER the vote and she blew that while saying what she did BEFORE the vote.

There may be times that people vote on an issue when such backdoor dealings are not in play. This was not one of them. The black caucus got what they wanted, enough "safe" republicans switched sides, and enough dems got away not voting with their party...all with sleazy backroom deals, risk assessment for who could afford the political fallout, and who got something out of the deal. Chairman and other leaders keep track of who tows the line and who will be getting "pork' down the road.

Voters should be patting the members in congress who voted "no" on this, but also those who were calling the alarm before hand. Which was about none of them. But when they can fool most of the voters and have them divided, it ensures that the majority will always be safe for re-election.

Congress was asleep at the wheel. And once again, to get anything passed to protect the interest of the nation, it comes with so much pork attached, it's sickening. Everyone of them failed the American people.

Voting is worked out well before hand. And it does not always appear as it seems.

[George Fergusson]

2 weeks ago, nobody in Congress had a clue there was anything like a financial crisis going on, let alone one that *almost* caused the total meltdown of the banking industry that fateful Wednesday. Recall that 3 days before that, John McCain said our economy was in fine shape. To be fair, I don't believe Obama had a clue either. The only person in Congress who DID have a clue and DID publicly talk about the developing financial crisis was Ron Paul.

So right out of the gate, our imbeciles in Congress were at a disadvantage: they were misinformed, possibly criminally so. And they were being advised by Henry Paulson and Ben Bernanke, two very accomplished liars.

Throwing money at a problem is the only thing Congress knows how to do, so the outcome of this fiasco was predictable. It's just too bad that it's too little, too late.

[BjornBee]

You really think that George? Two weeks prior and nobody had a clue!

BTW....McCain did sound a warning two years ago. Perhaps a weak one at that, and nobody listened. And I think that if you look at his entire comment, it had to do with the American workers spirit, and the determination of the workforce. That is strong. Just another political agenda driven half-truth to suggest he was making that statement about this fiasco. But I agree, nobody did nothing.

But to think we have hundreds in congress who did not listen to several other people and organizations that did indeed make comments and bring this to the front, with even editorials in several major newspapers,....all claiming this could not go on. And many of those calls went back several years.

The one's I see that did nothing, and were IN CHARGE of the oversight....are the same one's that stood with HUGE smiles after the 700 billion grab from the Americam people. That being Dodd, B. Frank, and others.

They created the problem, they were the only ones allowed to fix it....and they know that their pet projects and kickbacks are safe for another twenty years.

[Eaglerock]

But I agree, nobody did nothing.

.

Actually, everybody did nothing and nobody did anything.

My question is, should we have baled them out or not? I am torn between this. Part of me says we should have let them go down like a freakin dart, and part of me says, well, we need to save them.

To be honest I am not sure what we should have done. Part of me wonders why the government did this. As my sisters emails state, "I love my country, but I fear my government". I would like to believe that they did what was needed, but was it?

Do you all believe we did the right thing? Obama and McCain both wanted it... so is that a plus or are we being duped?

Or are they being duped?

[Sundance]

The financial services lobby is the largest lobby going!!

The belch $$$ where it is needed. Chris Dodd is the largest
recipient.

Ear marks are a joke and a distraction compared to lobby
cash dole outs.

Until we end lobby cash cows, no real significant change
can happen with lawmakers being paid for their votes.

[Sundance]

What makes Sen Dorgan's NO vote even more outstanding
is he is NOT up for re-election until 2010.

[Galaxy]

SNL had a interesting skit on the bailout.

http://www.nbc.com/Saturday_Night_Live/video/clips/c-span-bailout/727521/

and their Biden-Palin skit was also funny.

http://www.nbc.com/Saturday_Night_Live/video/clips/vp-debate-open-palin-biden/727421/

[BjornBee]

Outstanding???

So a guy NOT up for re-election votes no. And this is the bar or level one passes to get an "outstanding"? Where was he as little as two weeks ago, as George stated, when NOBODY in Washington was willing to say anything, not willing to compromise their party, or willing to step on toes of the powerful lobbyists?

We have a government that should be proactive, not reactive.

Way to go Dorgan.....as if this was the best we can expect.

And there is the problem. It's never MY crook (politician), it's always someone else's crook (politician).

To give a passing grade to any congressman, let alone an "outstanding" just shows how low the bar is in today's society. And then we sit back and scratch our heads and complain as this country goes down the tubes.

Can't wait to see the vote after the next "reactionary" crisis comes up. I'd rather give outstanding out to those who see things coming and do what's right before this reaches devastating proportions.

Yeah....OUTSTANDING DORGAN! Now go close your eyes till the next crisis comes up. OUTSTANDING INDEED!

One person had the guts to call what's going on in government for what it is. "Corruption"...and that was Sarah the other night. That’s one step above those who point fingers and justify this or that by claiming we have a problem and that’s what we should focus on, as with Biden.

Corruption.....that what it is. And I do not give "outstanding" out to people in Washington that were so blind or stupid to do nothing, except cast a ballet after the fact.

[Sundance]

That SNL stuff is a gas Galaxy..... The shows quality
has gone up in recent years. The Hillary skits were
fantastic too.

At least politics yields good humor.

[dragonfly]

Do you all believe we did the right thing? Obama and McCain both wanted it... so is that a plus or are we being duped?



You've probably already figured out that I think we did not do the right thing. I would think the same if no other single person in the country agreed with me, and I couldn't care less what Obama and McCain think. We have been getting duped for much longer a time period than the one spanning this current crisis.

[Sundance]

The more I hear Ralph Nader, the more he makes sense.

[George Fergusson]

You really think that George? Two weeks prior and nobody had a clue!

Yeah, I think that. Most everyone knows that a bunch of poor people who'd bought houses they couldn't afford are being foreclosed on, pity that, but it was their own fault you know, and a few banks are having some trouble coming up with capital, but nothing to worry about. Too bad about Freddy Mac and Fannie Mae, having to be nationalized and yes, they were aware that times were a little hard out on "Main Street" for people who can't actually vote themselves pay raises.

Members of the Finance committees were so out of touch with what is going on in this country that they were SHOCKED and AMAZED when Paulson and Bernanke took them aside and explained we'd come within 500 trades of not having a banking system.

But to think we have hundreds in congress who did not listen to several other people and organizations that did indeed make comments and bring this to the front, with even editorials in several major newspapers,....all claiming this could not go on. And many of those calls went back several years.


There's no excuse for their ignorance.

Outstanding???

We have a government that should be proactive, not reactive.

Totally agree.

Can't wait to see the vote after the next "reactionary" crisis comes up.

Shouldn't have to wait long.