Tuesday, September 30, 2008
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Where Do We Go From Here?
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Posted by:
Michele Bachmann at
4:36 PM
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Yesterday, Congress voted on what is arguably the single most important issue facing our country today. A $700 billion, taxpayer-funded Wall Street bailout package was presented for a vote with absolutely no opportunity for debate or consideration of alternatives. Every Member of Congress who spoke on the floor, every Administration official involved in the negotiations on the package, and every commentator has said that this is a bad package. Many of them, however, have said that Congress had no alternative but to pass it.
I disagree, and so did a solid bipartisan majority of the House of Representatives who voted against this package. Congress must sit back down and demand that the Bush Administration take into consideration some of the very valid alternatives being discussed. There is no reason that Congress needs to rush into passing a bad bill that would saddle generations with debt. The American people deserve a more thoughtful response.
Check out an alternative proposal to which I'm a co-sponsor of here.
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What is up with Minnesota? We are proving to be as obtuse as Texans. Why do we feel the need to elect racist, anti-democracy, reactionary evangelicals? Go Michele Bachmann, just keep saying the tape of you accusing Obama of being anti-American is an urban legend. Palin - Bachmann in 2012.
See it at http://crooksandliars.com/node/24155 |
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you are right about non american activities in DC however don't stop at the democratic party go on with the republicans and the independents because in my opion haven't any of you guy's been on our side in the past few years it has been (CYA) and the hell with the population There isn't any of you guy's that know how to negotiate or be diplomatic so while your at it have yourself investigated and let's root out all of the incurageables on the hill |
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Michele Bachmann is exactly right, alternative remedies that don’t involve taxpayer funds should be the first option.
-------The corporatists do not like it when people save, they want you to spend, spend, spend. Worry about your future tomorrow; the Government will take care of you, don't worry!.......Vindex-----
“Corporatists”, which could be a single individual, want for you to have more money and savings. Except for the few neanderthals that hide their money under their mattress most people invest one way or another, which benefits the investor and those evil “corporatists”. It is govt, particularly the socialist left that says don’t worry about the future, just vote donk and daddy govt will take care of you.
----Buy *real* property that can maintain it's value. Every piece of fiat paper you hold is worth less and less every single day you hold it…..Vindex-----
There’s no guarantee that real property will hold its value, which should be painfully obvious to anyone living outside of a cave. If you don’t have the means to weather downturns you could end up losing everything you have and then some. When the real estate market collapsed in Southern Cal in 1990-1991 many committed suicide. My family lost virtually everything.
Einstein said the most powerful force in the universe is compound interest; brought to you by evil corporatists.
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Just another hyped crisis to grease the public to accept giving away more tax money in a big government scheme to transfer wealth upward. Both parties are complicit. Taxpayers are soon to be on the hook for over 11 TRILLION DOLLARS of national debt. Does anyone in DC practice authentic conservatism, anymore?
http://www.libertyshout.com/libertyblog.htm
Please Cong. Bachmann, vote NO again!
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I don't think there should be a plan where paulson gets to pick and choose who gets to be bailed out. I have heard/ ead several plans including the one you mantioned that seem like a much better choice than going further into debt to bail these companies out. Stick to your guns! I'm glad you represent our great state of MN. |
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I'm appalled at some of the responses about "bringing race" into this discussion.
Congresswoman Bachmann, in arguing about how Freddie Mac and Fannie Mae are the root cause of this economic meltdown, pointed to a Clinton-era rule change that loosened up credit restrictions on mortgages to allow more people to try to gain the American dream of home ownership. As I stated, I not only understand the argument, I agree with it. I do not agree with suing the following...
"..home ownership as a way to open the door to blacks and other minorities to enter the middle-class..."
Congresswoman, I have several points that I would like you to consider. When you choose to use a phrase like the one quoted above, even when you are quoting from a magazine, you not only open yourself to criticism, you also open up old wounds on issues of race, America's Original Sin.
Lest we forget history... Look at the Legacy that Clinton is credited with, and wants to be remembered for; Economic Growth. Take a new or 1st look at “The Contract with America” from Newt Gingrich. He was vilified for it, but leap ahead 8 years and see that Clinton was able to not only co-opt the message of the contract, but also the credit for it. My historical point being; it was us, Republicans that were responsible for the great economic boon of the 90's. But in taking credit for that, we also are due the responsibility.
Congresswoman, the point I make is simply put. I don't want to see a repeat of the 90's, where Democrats were able to steal our ideas, which we put through the Congress, allowed in the end to be stolen from us....
More importantly, low income, poor credit and the ability to get a loan ARE NOT AND SHOULD NOT BE CONSIDERED OR VIEWED ALONG RACIAL OR MINORITY LINES. Poverty, poor credit and low income does not hit just a minority and to say otherwise is foolish and just adds another log on the fire that is Washington.
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Kristianne, let us hope that you have the mental ability to remember that if Obuma does win, that all the pain and suffering will be on those like you that refuse to investigate the truth. Remember that the middle class will be hurt some...but, it's always the lower class that pays the most. More taxes always mean a restriction in the economy and job losses. Check Bill Clintons last years in office and Jimmy Carters 22% interest rate along with their unemployment rates. Government Schools and a lack of parental guidance..... |
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Thank you Congresswomen for voting against the bailout plan. What we need is help for the average citizen and homeowner not help for the banking industry whose questionable tactics are at the source of this problem. The banking industry needs to clean up it's mess without help from the taxpayer.
As far as I'm concerned, any economic plan that includes a bailout for the banking industry is not exceptable. The Bush administration is in a hurry to push through a 'bail-out' plan that hasn't been designed to help the average person. The 'trickle-down' theory never really worked. The rich just keep getting richer.
Where was all this concern to bail out someone when it seemed that it was just the homeowner in trouble ? Now that the rich & powerful are in trouble, the Bush Administration is in a hurry. Congress need to take the time and think this through.
It's at the point where the average citizen has absoluting nothing to say about where our tax dollar goes. Our county's leaders don't seem to be concerned about the health and care and well-being of our own people. The rich and powerful run our country for their own purposes not for the people they represent. Something needs to change. |
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Ms. Bachmann,
Thank God that bill didn't pass. Although some bad things came out, most still remained. I do not think it is wise to give Secretary Paulson the power to pick and choose which of his friends get to have their mistakes purchased by the American Taxpayer. Bad businesses must be allowed to fail. Executives who lied to their investors deserve to go to jail
I also see that there was a provision related to state and municipal pension funds. Are their retirement funds 'more equal' than my retirement funds? Please tell the Senate not to try to dip the crap sandwich into a sugar glaze in an attempt to make the American Taxpayer swallow it.
There are better solutions to the credit crisis such as you discussed this AM on KTLK. First and foremost would be the promise to shut down Freddie and Fannie to make sure they don't continue to make this bad situation worse. If the Barney Frank and Chris Dodd want to provide affordable housing to low-income individuals, let them start a company and invest THEIR money and then go drum up support from other wealthy democrats who want to support those ideals such as Warren Buffet or George Soros or Oprah Winfrey, maybe some of those highly paid Hollywood actors who constantly want to tell us what we should think would want to put some of their own money where their mouth is and contribute as well.
Please continue your good work to insist on a better alternative. |
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The Congresswoman was citing history. Lenders were forced to write bad mortages because blacks were complaining that they were being denied mortgages due to their race. Even though studies found that racism was not an issue, poor financial histories were the issue, lenders were made to give the loans and we have the financial mess of today.
But I can understand how Democrats would like to keep race out of this as much as possible. After all Dems have a arab-american presidential candidate who claims he is black and who went to a black theologian church where he learned that whites are evil and cannot be true Christians unless they act like blacks and whose pastor wants God to d@mn America.
Hypocracy much? |
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Bulldoze all forclosed homes down. If we leave them all on the market, which is flooded with them, the value of everyones's existing home is going to continue to decline. The loans are worth nothing and the don't care. Basic ecconomics suply and demand, eliminate the suply DAH! The market we have now creats even more people having more upside down loans, due to out of control depreciating home values. Therefore creating more forcloserures, where people just keep walking away from thier homes. The housing market is the backbone of wealth of average Americans, and when it's deamed worthless we all suffer. Can't anybody see this. The problem with government is they can't make a tough decission for fear of losing thier job. |
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into it's self-made misery. Something has to be done, but all we here in the heart of America see is a Congress playing games with our money and partisan politics. Trying to backpedal from Bush isn't going to help the GOP now, after all. Your guys have had control of these issues for 28 years - remember? Now it is up to them to step up to the plate and get us out of this mess, and then get soundly voted out of office.
Polls have Obama now in a 12-point lead. |
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This has nothing whatsoever to do with the question above. I read several posts about attacking Sarah's use of her personal finances, and the cost of her glasses.......? What business is that of anyone? Why did you pay all that money for your Mercedes and yet choose to live in a slum with your children? We know why.
Why do you choose to spend your hard earned cash on a case of beer every Friday night? Why did you take that expensive vacation this summer, when your credit cards are almost maxed out? The why's can continue, but I think maybe the pernt has been made. Sarah purchased her glasses because she like the style, there's no frame around the glass making it appear that your not wearing any. Now, I say good choice Sarah! And most importantly, she paid for them with her own personal, cold hard cash! So go stick your heads back in the comode and flush it-- it'll clear your head of all that debris.
BE BLESSED!
CJR |
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Congresswoman Bachmann, thank you for voting against the bill and please vote against any new version that comes out this week that does not include a requirement that the major financial institutions upkeep and dispose of the real bad assets that they own - the foreclosed houses.
Americans are mad because these banks are getting a bailout when they are not trying to mitigate their damages. Drive around the 6th district and you can easily tell which the “foreclosed” homes are. The homes are simply falling apart. The banks which own these mortgages are not even attempting to maintain them and in many cases even sell them. Most are not listed on the multiple listing service. And most homes are only partially maintained thanks to their neighbors.
Most Minnesotans I talk to understand the predicted doom and gloom. What they don't understand is why banks can get the bad mortgages off their balance sheets but do nothing with the real assets.
So please, Congresswoman Bachmann, demand that we hold the banks accountable and force them to take care of the real bad assets before we bail them out.
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Why can't some people help themselves from playing the race card as though it makes up half the cards in the deck? Grow up readers!! If one says that a disproportionate number of BCD loans were provided to African Americans to help society achieve a higher percentage of African Americans who enjoy the American dream of owning a home, this statement is a fact, a fact, a fact, a fact!! Got it? This is not racial it is simply a fact!! Got it? Furthermore since 90% of blacks vote for democrats (this is also a fact) perhaps Clinton and his lib buddies were simply buying votes when they advocated helping to increase home ownership among the poor. Now we come full circle to why we are in this F@#$'n mess in the first place!! Anyone who is not qualified should never have gotten a loan. Period!! |
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Thank you, Congresswoman Bachmann for voting against the bailout bill, listening to your constituents and having the COURAGE to make a stand for LIBERTY. You have the American People behind you. I understand the Senate is going to vote for the bill on Wed. Please continue to stand for liberty and protecting the taxpayers. The alternative bill you co-sponsored is one the American People can support. Please continue to demand that the Bush Administration take into consideration some of the very valid alternatives being discussed. Good luck. |
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They are mericas landlords.
Pipe down on the bigotry before you get there, Lady Bachmann,
or you will end up working the rice paddies |
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I find it incredibly annoying that Congresswoman Bachmann would honestly believe that loans to African-Americans was the reason for the failure in our economy today. My parents, siblings, relatives and friends are living in their homes paying a mortgage like everyone else. To say it as if it were true and stand before your fellow congressmen on a day when America for once in it's existence needs to come together. Statistics have shown that among the number of foreclosed homes across the country all color lines were crossed including yours--white people. I would like to see people like you removed from office after your term because your thoughts drag this country down. I'm angry that you and others still today in the 21st century want to lump all African-Americans under the same blanket and hold onto your ignorant believes that we are the only ones not succeeding in America. If you go to states like Ohio, Michigan, Florida, Maryland, Virginia and Pennyslvania, many homes were loss by people of all walks of life. I get tired of hearing some of the Republicans want to blame others and not take any part in the signing of "blank checks" for President Bush these last seven years. You owe African-Americans a huge apology and I will make sure your blog is given to a popular radio station so that others can express their disappointment in you. |
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Please do not cave to the pressure! Please continue to fight for us. We need you to stand up and speak out for the taxpayer - we do not want to become a Socialist country. Please speak to those Senators you know and urge them to hold their votes until a GOOD bill is legislated. |
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Congresswoman Bachmann,
I do not live in your state, I have never heard of you before, but I am a very proud Republican in a very Democratic state, Oregon. I'm a 48 year old white middle-class man in the software sales business and I'm white.
I'm writing this tonight due to something that you read into the record concerning how "we got here" in regards to the current economic meltdown, where you read from a magazine article outloud, into the record.
The article you were reading from stated that the reason for this debacle lies at the feet of the Clinton-era rule that loosened up credit with Fannie Mae and Freddie Mac in an almost Affiramtive Action sort of way; not only do I understand the arguement, I agree with it.
However your use of a particular phrase, whether yours, or that of a magazine you deemed necessary to quote verbatim into the record was extremely offensive.
"..home ownership as a way to open the door to blacks and other minorities to enter then middle-class..."
As I stated, I've never heard of you, nor do I live in the district or state in which you serve, so you might not care much of my opinion.
I would prefer to not hear any explanation, that places blame on blacks..., women..., homo-sexuals..., or even religions.
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were it doesn't make sense to save your money. Putting your money in the bank means it loses value far more than you can possibly gain in interest.
I am sure that is the plan. The corporatists do not like it when people save, they want you to spend, spend, spend. Worry about your future tomorrow; the Government will take care of you, don't worry!
This is possibly, the most un-conservative thing I have ever said: To get the most value from your fiat dollars - spend them immediately.
Buy *real* property that can maintain it's value. Every piece of fiat paper you hold is worth less and less every single day you hold it.
Of course, as the depression of the 30's showed us, precious metals are not a safe bet, because our government will simply "confiscate" them when their fiat dollar gets in trouble and force you back on their paper at less than market value of your metals.
Some people complain of impending Fascism in America, but I say this: Where the H*ll have you been for the last 50+ years; in a coma? It's not on the doorstep, folks, it's already sitting on your couch and raiding your fridge. |
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This plan seems interesting. I guess my question would be can you get the majority of the Democrat's vote on this? This is not a Republican Congress I'm sure you know, and nothing can be achieved without the majority of the Dems.
What bothers me though, is that the Dems will say that this is all well and good, but if you want these things then these are the things that will be mandatory from our side.
Last 2 questions, Michele, has this information been given to the administration, and what was their response?
Good Luck. |
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The bankers are still going after the $700B after they just got $630B under the table on Friday from the Feds?
In other words, like everything else the government does, this is going to cost us FAR more initially proposed to us.
Interesting that I have not seen a single post on TH about the $630B "screw you" message the Fed gave to Congress.
Why is that being ignored? That dollar in your pocket today, folks, is worth about 60 to 65 cents compared to what it was worth last Thursday. So, what will it be worth after the additional $700B?
Are you people not paying attention? |
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Thank you Congresswoman Bachmann. I cannot access your alternative from my phone here but I have scanned an outline of Congressman Pence's and it has better options.
Please don't cave to pressure. You all have plenty of support from true conservatives and also true liberals. This is the hidden secret in American politics that is revealing itself in my opinion. There are principled politicians on both sides of the political spectrum that have more common ground than many realize. The corrupt centrists are your common enemy. An alliance may be in order here.
Good luck. |
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Michelle... I know of a janitor who owns 3 govt designated low income houses. He rents one out and is trying to sell another at market value - that's fraud - not speculation. If a janitor (whose legal status is questionable)can figure out how to purchase 3 homes in the L.A. Market AND fraud the govt to boot, everybody must be doing it.
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Congresswoman Bachmann, your alternatives seem to be well thought out and less risky for the American people. I hope you will be able to have positive influence on the on-going negotiations. |
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Thank you Congresswoman Bachmann for listening to your constituents and voting against this bill. You have our support in pushing forth your proposed alternative and we appreciate your willingness to find a solution that addresses some of the true underlying problems and not just slapping a band-aid on a gaping wound because some alarmists are telling us it is "the only way". No, you do not write legislation for a problem this huge and pass it in the dark of night without full and comprehensive debate to ensure that we, the taxpayers are protected to the largest degree possible. |
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Congresswoman Bachmann, thank you for standing up for us and opposing the bailout.
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