BAIL-OUT DEAL?

Got this from AP off of MSNBC. Comments embedded.


WASHINGTON - Key Republicans and Democrats reported agreement Thursday on an outline for a historic $700 billion bailout of the financial industry, but there was still resistance from rank-and-file House Republicans despite warnings of an impending panic.

The key word is "Key" Democrat and Republicans. This is the leadership. These are the guys who have sold their souls over and over for campaign cash and paid-for vacations and sexual favors and lots of freebies from the fedgov. But like the article says, the rank and file are not too happy. There will be arm twisting going on like crazy. The rank and file are getting told by their constituents to not give the bankers a fucking penny. And election time is coming up! And the mess will not be over then and folks will remember and check on how their congresscritter voted and that will be the ballgame.

“I now expect we will, indeed, have a plan that can pass the House, pass the Senate, be signed by the president and bring a sense of certainty to this crisis that is still roiling in the market,” Sen. Bob Bennett, R-Utah, said as members of both parties emerged from a two-hour negotiating session.

Something for everybody. All the favored banks will be sure to get a cut of the government largess. How nice.

Negotiators planned to present the outline at a White House meeting later Thursday with President Bush and the rivals to replace him, Republican John McCain and Democrat Barrack Obama.

They will face the man who can ruin the whole country. Kinda daunting if you ask me.

“We’re very confident that we can act expeditiously,” said Sen. Chris Dodd, D-Conn., the Banking Committee chairman.

They can act fast, but will they have the votes to get it passed? A lot of pressure on those congressmen. Not enough time for people to forget.

Not everyone in the closed-door talks was as optimistic. Rep. Spencer Bachus of Alabama, the only House Republican in the bargaining meeting, stopped short of saying he agreed with the other lawmakers on an imminent deal.

“There was progress today,” said Bachus, the senior Republican on the House Financial Services panel.

There was progress, sure enough. But was there anyway they could get it done and not tip off the whole blogosphere? The blogs rule! And they WILL find out the true story. We WILL get the truth and we will vote the bastards out if they don't toe the line. We still have elections in this country and we can damn sure punish anyone who votes for the bail-out. And we haven't even begun to bail anything out! FDIC needs 250 billion dollars for the banks yet to fail. Ain't anyone even thinking about the federal reserve! They are about out of Treasury Bills. And they will want paid! Bet your ass on that! They will reap billions off of this little fiesta.

Later, he issued a statement saying he was not empowered to strike any deals and there was “no agreement other than to continue discussions.”

Ahh, so the talk of a deal is mostly bullshit at this time. Hard to believe a group of congressmen would lie and mislead. Bastards. Throw them out. Let them do time in Attica and dance with Bubba.

Both houses’ Republican leaders, Rep. John Boehner and Sen. Mitch McConnell, also issued statements saying there was no agreement.

Now we get the "more true" story. Boehner and McConnell want control and they have to please the critters if they want to stay in power. Vote NO or voted OUT!

Still, the White House called the announcement “a good sign that progress is being made.”
“We’ll want to hear from (Treasury) Secretary (Henry) Paulson and take a look at the details. We look forward to a good discussion at the meeting this afternoon,” said Tony Fratto, the deputy White House press secretary.

This type of comment is made for shit-for-brains who vote and not the intelligent few in this country. No brag. Just facts.

A Treasury spokeswoman said the proposal was being reviewed there.

Man! Is this ever an informative statement. They should have said that water was wet and we could have really been enlightened.

On Wall Street, stock prices were up late in the trading day, but not by as much as earlier in the day.

Sounds like the fools got out early today!

The core of the plan proposed by the administration just a few days ago envisions the government buying up sour assets of shaky financial firms in a bid to keep them from going under and to stave off a potentially severe recession.

You ain't going to convince me that this plan has not been sitting on the shelf for weeks, just waiting for the right time to enslave the populace.

Obama and McCain called for a bipartisan effort to deal with the crisis, little more than five weeks before national elections in which the economy has emerged as the dominant theme.
McCain on Wednesday asked Obama to agree to delay their first debate, scheduled for Friday, to deal with the meltdown. Obama said the debate should go ahead.

Call in the maybe guys! Who gives a shit about them at this point?

Congressional negotiators said Thursday there were few obstacles to a final agreement, although no details of an accord were immediately available.

“There really isn’t much of a deadlock to break,” said Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee.

And I am going to believe this queer? Lighten up!

But there were fresh signs of trouble in the House Republican Caucus. A group of GOP lawmakers circulated an alternative designed to attract private money back into the credit markets with less government intrusion.

But you just said there was nothing much in the way of an agreement on the bail-out!

Under that proposal, the government would provide insurance to companies that agree to hold frozen assets, rather than purchase them directly as envisioned under the administration’s plan. The firms would have to pay insurance premiums to the Treasury Department for the coverage.

But, but, that would mean that us dumb peon taxpayers might make a buck off of this mess. After the trillion we have loaned out the window at the Federal Reserve. And that has only been about 50 or 60 billion dollars a week this year. Funny how the criminal element in congress never mentions this huge some of money. But we will hear about it when the Federal Reserve needs bailed out! Bastards!

“The taxpayers haven’t done anything wrong,” said Rep Eric Cantor, R-Va., adding that rather than require them to bear the cost of the bailout, the alternative “pretty much puts the burden on Wall Street over time.”

Well, what the hell. They did the deed! Let 'em pay for it.

Boehner, R-Ohio, the minority leader, was huddling with McCain on the rescue. When asked whether the GOP presidential nominee could corral restive Republicans to support the plan, Boehner said, “Who knows?”

Has anyone told McCain about the phone calls, faxes and emails. Has he grasped the fact that all these bozo's are coming up for re-election? Murky water, McCain. Dangerous water.


Bush told the nation in a televised address Wednesday night that passage of the package his administration has proposed was urgently needed to calm the markets and restore confidence in the reeling financial system.

So who is excited? Not I. Must be the bankers and the politicians. And who gives a shit about them? The media gets so screwed around talking about markets. Who the hell owns any stock? People are trying to get out of paper and get into Silver and Gold. It's called TANGIBLES. This system is screwed and tattooed. Let it fall. We can build something better!

House Speaker Nancy Pelosi, D-Calif., said Bush’s agreement with Democrats on limiting pay for executives of bailed-out financial institutions and giving taxpayers an equity stake in the companies cleared a significant hurdle.

Someone let Pelsoi get off of her meds. This ain't about executive compensation and it ain't about us peons wanting a stake in the toxic toilet paper. America. the boots on the ground, the people who actually work in this country, want this thing to die a natural death.

It was not immediately clear how lawmakers had resolved differences over how to phase in the unprecedented cost — a step demanded by Democrats and some Republicans who want stronger congressional control over the bailout — without spooking markets. The idea of letting the government take an ownership stake in troubled companies as part of the rescue, rather than just buying bad debt, also has been a topic of intense negotiation.

They got down the road a little bit on this remark. The bail-out ain't passed in Congress as yet. Who gives a shit about the why's and wherefore's?

Frank told The Associated Press Thursday both elements would be included in the legislation.

Frank is a queer and I don't give a shit what he said.

Bush acknowledged Wednesday night that the bailout would be a “tough vote” for lawmakers.

But he said failing to approve it would risk dire consequences for the economy and most Americans.

“Our entire economy is in danger,” he said.

BUSH! You reprobate Bastard! Our economy is in Danger? Where have you been the last year as our food and fuel and utilities have driven us to the financial wall? Where have you been as the words JINGLE MAIL have been coined? Where have you been as decent hardworking people have watched their life savings go down the tube? Where people have to sell their prized possessions to keep the wolf from the door? What planet have you been on, smoking what exotic kind of tobacco? YOU ARE A PLAGUE ON THE HOUSE OF AMERICA. PEOPLE ARE STARTING TO HATE YOU.

Stay alive.

Michael

mboone@rtccom.net