The Strategypage is a comprehensive summary of military news and affairs.
 News As History - November 8, 2009




New Strategy - Wargames at Discount Prices
1.Modern Air Power: War Over the Middle East
2.Commander: Napoleon at War
3.Close Combat: Watch am Rhein
4.Gallic Wars
5.Fast Action Battle: The Bulge

100+ Computer and Board games all with free shipping.
 
 
 
Military History | How To Make War | Wars Around the World Rules of Use
How to Behave on an Internet Forum
United States Discussion Board
Sign In   Return to Topic Page
Subject: $700Billion, Bail Out draft proposal as it stands today.....
RockyMTNClimber    9/22/2008 5:49:10 PM



ht***tp://www.nytimes.com/2008/09/21/business/21draftcnd.html?_r=1&oref=slogin

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY

TO PURCHASE MORTGAGE-RELATED ASSETS

Section 1. Short Title.

This Act may be cited as ____________________.

Sec. 2. Purchases of Mortgage-Related Assets.

(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.

(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;

(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;

(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and

(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.

Sec. 3. Considerations.

In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--

(1) providing stability or preventing disruption to the financial markets or banking system; and

(2) protecting the taxpayer.

Sec. 4. Reports to Congress.

Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3.

Sec. 5. Rights; Management; Sale of Mortgage-Related Assets.

(a) Exercise of Rights.--The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act.

(b) Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.

(c) Sale of Mortgage-Related Assets.--The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.

(d) Application of Sunset to Mortgage-Related Assets.--The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9.

Sec. 6. Maximum Amount of Authorized Purchases.

The Secretary?s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time

Sec. 7. Funding.

For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Sec. 9. Termination of Authority.

The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.

Sec. 10. Increase in Statutory Limit on the Public Debt.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.

Sec. 11. Credit Reform.

The costs of purchases of mortgage-related assets made under section 2(a) of this Act shall be determined as provided under the Federal Credit Reform Act of 1990, as applicable.

Sec. 12. Definitions.

For purposes of this section, the following definitions shall apply:

(1) Mortgage-Related Assets.--The term ?mortgage-related assets? means residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before September 17, 2008.

(2) Secretary.--The term ?Secretary? means the Secretary of the Treasury.

(3) United States.--The term ?United States? means the States, territories, and possessions of the United States and the District of Columbia.

 
Quote    Reply

Email Me When A New Comment Is Made
Show Only Poster Name and Title     Sort in Reverse Order Posted

Pages: PREV  1 2 3 4 5 6   NEXT
Ashley-the-man    B O H I C A    9/29/2008 12:59:41 PM
The government loves acronyms so why not one for the $700B bailout plan?  BOHICA, and all the credit goes to a Jim Rome clone.
 
For their tireless efforts, how bout we recognize those who helped us to this point?  Stand up Nancy, Stand up Barney, Stand up Tom, Stand up Harry.  There in the back, Stand up Barack and John, and way in the back, Stand up and Stand tall W - God love ya all.
 
Hey folks, why don't we all stand up for this fine folks? 
 
Quote    Reply

Jeff_F_F       9/29/2008 1:33:25 PM
Why would the leaders of these companies be so reckless? Because they stand to profit personally even if the company goes south. And this bill does nothing to change that : (www.nytimes.com/2008/09/30/business/30bailout.html?pagewanted=2&ref=us)

One of the more contentious issues was how to limit the pay of executives whose firms seek government aid, a top priority for Democrats and even some Republican lawmakers. But it was a concern for Mr. Paulson, who worried about discouraging firms from participating in the rescue plan, which seeks to convince companies to sell potentially valuable assets to the government at relatively bargain prices.

In the end, they settled on different rules for different companies depending on how they participate in the bailout. Firms that sell distressed debt directly to the government will be subject to tougher pay limits, including a mechanism to recover any bonuses or other pay based on corporate earnings that turn out to be inaccurate or fraudulent, and a ban on so-called ?golden parachute? severance packages as long as the government has a stake in the firm.

Companies that participate in auctions, or other market-making mechanisms, and sell more than $300 million in troubled financial instruments to the government, will be barred from making any new employment contract with a senior executive that provides a golden parachute in the event of ?involuntary termination, bankruptcy filing, insolvency or receivership.?
 
(Emphasis mine) So if some kleptocratic CEO already has such a contract, they are still good to go! Golden parachute away! WHEEE!!!
 
Quote    Reply

RockyMTNClimber    Bail-Out Paloosa.... The Dems loose the vote!   9/29/2008 2:35:31 PM
As of today two things are clear:
 
 1. The sky has not fallen, 
 2. the Democrats have not passed their bail-out.
 
Coincidence? I think not.
 
The White House today sits in shame quaking over a plan they don't have the balls to make public. Bush has time today to skip breakfast and demand approval, predict financial collapse (at least once every 12 hours),  but he does not have time to explain the actual model that Paulson has in mind. At best the plan is described as the Treasury buying the home mortgage portfolio of any financial institution who wants to sell, in one fell swoop. At once making the USG (or as the rest of US understands it: THE US TAXPAYER) the largest single holder of these notes. They say that the notes will return in value. They hint they will make money for the taxpayer if the values come back enough. The truth is that they have no clue, they are making this up as they go. These are the people who set the policies that put US in the predicament (pelosi,clintons,ried,bush,barney frank, barry hussein....paulson,greenspan,bushW,ayers,rubin,reich,biden,todd and how many others?). These people insisted that centuries old guidelines on home mortgage loaning were cast to the wind. In the place of historical loan underwriting procedures a new matrix of regulations made loaning to the insolvent, the illegal immigrant, the obviously unable. All in the name the Community Reinvestment Act.
 
Bush's shame is complete now with leadership having blessedly been picked up by the House Republicans. While the above mentioned Democrats put $400+ billion of Pork for their pet pork recievers like the ACORN progam in the bail-out, Bush Said: Vote YESDid he read the original legislation? (quoted in full above on this thread. There is no doubt this would have nationalized Wall Street. The biggest private property siezure in history). Instead of trying to steady the market place and looking for market based solutions to protect US, he tells US we will suffer horribly unless we adopt his treasury dept's wide eyed solution, RFN. That makes market failure almost self fulfilling prophecy. How dare he.
 
Check Six
 
Rocky
 
 
Quote    Reply

RockyMTNClimber    110 page bail-out   9/29/2008 6:41:22 PM
ht***tp://money.cnn.com/2008/09/28/news/pdf/index2.htm
 
Quote    Reply

xylene       9/29/2008 10:44:23 PM

At best the plan is described as the Treasury buying the home mortgage portfolio of any financial institution who wants to sell, in one fell swoop. At once making the USG (or as the rest of US understands it: THE US TAXPAYER) the largest single holder of these notes. They say that the notes will return in value. They hint they will make money for the taxpayer if the values come back enough. The truth is that they have no clue, they are making this up as they go.  

If the Wall Street banks holding these securities thought they would rise in value , they would not be considering selling them off to the government. What's scary is the the seemingly coordinated sell off by the institutional investors when it looked like Congress was not going along with the bailout. These same investors have a lot to gain by being able to unload their garbage bonds on taxpayers. It was almost like Wall Street was trying to bully Congress into voting the "correct" way.
Paulson and Bush need to realize the  nation has lost confidence in them and they simply can't ramrod legislation through.  Especially fundamentally flawed legislation that is not guaranteed to work and has great potential to execerbate the problem.
 
Not impressed by either Obama or Mccain. Both seem to be drifting through this unable to make a articulate opinion on the matter.
 
I think some type of intervention is needed , but throwing money at the top of this pyramid will only cause the recipients to bank the money. Injecting cash in the lower rungs will potentially slow the foreclosure rate, spur consumption,and as a by product strengthen the bonds being backed by those mortgages. The question is how it should be implemented.   

 
Quote    Reply

Ashley-the-man       9/30/2008 3:44:05 AM
zylene
Paulson and Bush need to realize the  nation has lost confidence in them and they simply can't ramrod legislation through.  Especially fundamentally flawed legislation that is not guaranteed to work and has great potential to execerbate the problem.
 
 
I've read your post several times and can't find the Nancy Pelosi reference.  You have the Speaker of the House who gets to pick and choose what legislation will come to the floor for a vote and in this case only had to get another 13 democrats to cave in to her pressure, err, do the patriotic thing and vote for her bill.  Your whipping boy, W enjoys a populatiry in the lower 30's.  Congress has a favorability rating of about 20%, this bill has only 20% of the public supporting it, and 20% of the public are core liberals.  I'm starting to see a pattern here. 
 
The only thing that can match the economic crisis that the democrats first unleashed on us is the leadership crisis that the Speaker is now in the middle of.  Nancy, make the deal, get the republicans what they want and those 13 democrats will likely go along, otherwise the shut down of the government that resulted from the struggle between Gingrich and Clinton will seem like a kindergarden time out. 
 
With the talk about dropping Palin and Biden, one wonders how long Nancy Pelosi has before she is moved aside for the good of the country.
 
 
Quote    Reply

Jimme    The Sky has started falling already   9/30/2008 4:04:39 AM
In just the last week my insurance rates are sky rocketing and my credit worth seems to have made a dive even though I have an impeccable record. My company has taken a hit this past fiscal year with the slow retail economy. Businesses that still want my services are having a hard time securing financing at reasonable rates, even my finance guys are finding it tough. And this was before the proverbial shit hit the fan. So what am i to expect now?
 
People don't seem to understand how important credit is for small businesses especially in tough economic times. I have nothing to do with wall street or mortgage loans yet I am seriously effected by these current situations. I started my business with a sub prime loan that was granted to me by an incredibly unique circumstance (I've told the story before so i wont repeat maybe another time). Yet I paid back that loan in full 5 years ahead of time. I'm the honest good guy in business. So why am I so worried? I say all this to say i REALLY wanted that "bailout" to go through. I'm not concerned over 700billion dollars I am never going to see anyways, I'm more concerned with the dollars I now may not see in my bottom line. Thanks to my conservative nature and my sell before i buy motto I have managed to keep the red ink at bay, but that wont be for long. the bills are pilling and there are so few new clients in sight. Even with the approaching holiday season I see nothing to be excited about. This could mean lay offs. Something i thought was taboo till a few weeks ago.
 
So when many of you think let the markets crash or let wall street handle its own mess, you should remember. Its not all about helping big shot CEOs and banks and stock brokers, its also about helping thousands of small business owners and small time investors who are not to blame and stand to lose a lot .

 
Quote    Reply

RockyMTNClimber    Jimme reply   9/30/2008 12:56:53 PM
What makes you think this bail-out will make your situation better? Why are you convinced that anything today is better than the next option which has not been revealed yet because of the wild eyed antics of our leadership?
 
First we need to do no harm. Then find the right actions both private and public to make these circumstances better. I challange you to explain why you think this is the right thing to do today.
 
Check Six
 
Rocky
 
Quote    Reply

Jimme       10/1/2008 12:54:49 AM

What makes you think this bail-out will make your situation better? Why are you convinced that anything today is better than the next option which has not been revealed yet because of the wild eyed antics of our leadership?

 

First we need to do no harm. Then find the right actions both private and public to make these circumstances better. I challange you to explain why you think this is the right thing to do today.

 

Check Six

 

Rocky


I don't know that this is the best plan we can come up with, I do know it is the plan we have NOW. The longer we wait the more things fall by the way side. We have already spent close to the $700B bailing out individual corps. one at a time. I have to ask what If we had just done this from the begining could we have saved ourselves from having to spend a near trillion now?
 
What I worry about is that there will be a lot of bickering and back and forth and nothing will get done. At this point its the perception that something is getting done that will help my own situation big time. I saw a bit of it when the plan was first announced and we saw a small bounce back on wall street. 
 
Personally I have heard some smart things from some of the best money makers in the US who are opposed to the bailout and have alternative methods to help fix the crisis. Problem is the best information in the world is useless if no one who counts listens . ultimately something has to get done and soon. Like a bag of microwave popcorn. If you wait too long to get the most popped kernels you end up with a burnt bag. I along with many other small business owners that employ the majority of Americans don't want to be one of those burnt kernels.
 
Quote    Reply

RockyMTNClimber    Jimme reply   10/1/2008 11:08:48 AM
Jimme, if we disagree here it is in the margins. I do believe that there is a significant possibility that the wrong legislation will cause your specific situation to become worse not better. It could drive the general economy into depression instead of recession. The devil is in the details and I philosophically believe it is more important to get it right the first time. If I were to make an analogy, imagine you are a patient on the operating table and in critical condition, the doctors know time is of the essence but they really can't say what is wrong with you, the blood work hasn't come back, and your X-rays are still in processing. They know you are in critical condition so they decide to go ahead and remove your spleen.
They know it won't help but they don't want to tell your family they aren't doing anything. Of course instead of helping you, this complicates your condition and you die.
 
Check Six
 
Rocky
 
Quote    Reply

RockyMTNClimber    Some thoughts on accountability.   10/1/2008 11:40:26 AM
 Okay, I know I shouldn't click and paste, but this is an interesting review of what has happened here to date. Knowing how this happened lets US evaluate how to move forward, and whom we should listen to in the debate. Again, as I write this another vote is about to be cast in the US Senate regarding the "bail-out". The same characters who in their personal greed and corruption got US into this mess are advocating this as the solution. No inspection of the revised bail-out is available for US to review. No explanation is offered for US to consider. The posting of the 110 page bailout (a link is provided above on this thread) is the only thing we have to evaluate and since it is 4 days old now it is probably useless.
 
Use your head and draw your own conclusions.
 
Check Six
 
Rocky
 
From National Review Online:
ht***tp://article.nationalreview.com/?q=NDQ0ZGQ4ODZmZDVkNDcwODE0NTk3ZWZkZDlkOWIxZGU=
 
 By Jonah Goldberg

You know the old joke about Winston Churchill seated next to a woman at a posh dinner party? Churchill says ?Madam, would you sleep with me for five million pounds?? The socialite responds: My goodness, Mr. Churchill. . . . Well, I suppose I would.? Adjusted for inflation were talking tens of millions of dollars after all. Then Churchill replies, ?Would you sleep with me for five pounds??

Lady: ?Mr. Churchill, what kind of woman do you think I am?!?

Churchill: ?Madam, we?ve already established that. Now we are haggling about the price.?It?s a joke worth keeping in mind when looking at the two political parties, particularly for those who think there?s not a dime?s worth of difference between them.

The House GOP has come under a lot of criticism for its failure to deliver on its end of the bipartisan bailout deal, including from yours truly. Meanwhile, the Democratic leadership has come in for some moderate pro forma criticism for failing to do what was necessary to see the legislation passed.

It is a funny — though not ha-ha funny — double standard: When the GOP ran the show, it was always held responsible for every ?bad? outcome. Now that the GOP is in the minority, it?s still held responsible for every ?bad? outcome. I suppose it?s a similar standard that somehow allows the Democrats in charge of overseeing the financial sector to whine that there hasn?t been enough oversight without even the slightest sting of embarrassment.

On that point, you know what I haven?t seen in all of the coverage of the bailout-blow-up? I haven?t seen a single interview with a Democrat who voted against this deal. I?ve seen interviews of Republicans who?ve voted for it. I?ve seen interviews of Republicans who voted against it. And, of course, I?ve seen interviews with the Democratic leadership in which they blamed the Republicans who voted against it but not the 94 Dems who voted against it.

Now I certainly haven?t watched every bit of news coverage nor have I read every story about the failed bailout vote, so I?m sure I?m missing some counter-examples. But I think the discrepancy of coverage is real. The press is eager to hear from these free market zealots, these Herbert Hoover* mini-mes, who would put their bizarre ideological concerns ahead of the country?s interests. Never mind that these alleged zealots actually believe what they are doing is in fact in the long term interests of the country. The press always knows that when conservatives refuse to compromise it?s because they are dogmatic ideologues, brainwashed acolytes in the cult of Milton Friedman and Adam Smith.

But why didn?t those Democrats vote for the bailout that their own leadership contends is vital for the financial health of the country?

That?s a question that hasn?t gotten a lot of attention.

Part of the explanation stems from the combined incompetence and partisanship of Nancy Pelosi who let many of her closest allies in the Congress — including five committee chairs who owe their positions to Pelosi — vote no. (Karl Rove?s
lecture on this point is extremely instructive.). Pelosi let 16 Democrats in tight races vote against the bill in order to save their seats. If that standard is good for the majority party, I would like to hear Nancy Pelosi explain why it?s unacceptable for the minority party. As Jim Geraghty says, ?She?s the speaker, she controls the chamber. You can?t say, ?vote for this bill, it is necessary? and ?we will target any Republican who votes for this bill? at the same moment. Of course, you can actually say it, because that?s what the Democrats have been saying. You just can?t say it with any integrity.

But I?m interested in the Democratic equivalent of the Republican ideologues. A majority of the hyper-leftwing Congressional Black Caucus — the self-anointed ?conscience of the Congress? — voted against the bailout, even though they come from some of the safest districts in America. A majority of the Hispanic caucus voted no, too. Half of the Congressional Progressive Caucus voted against the bailout.

Have you heard anyone denounce these people as ?left-wing ideologues?? I haven?t.

What would have brought these people around? Renowned intellectual Jesse Jackson Jr.
says that he voted against the bill in effect because it didn?t cost enough. If it was more of Christmas tree of left-wing New Deal policies he?d be in favor of a bailout. Indeed, you can be sure that most of these Democrats would have voted for the legislation if the old 20-percent-off-the-top for La Raza and ACORN provisions were still in there. Read the Congressional Progressive Caucus?s letter to Nancy Pelosi. The short version: We?ll vote for it — if it nationalizes America?s financial system.

Now, the interesting thing here is how different the motives are here, and how they run counter to the liberal conventional wisdom and the prevailing media narrative. The Mike Pence ?ideologues? opposed this bill on principle even though we?re always told by the Thomas Frank crowd that those laissez-faire Republicans are merely the willing pawns of America?s financial ruling class. Their principles are mere window dressing for grasping, evil capitalists. But the financial ruling class supports this bill. They?re begging for it in fact. These right-wing ideologues believe there must be a cheaper and better way to protect the American taxpayer that preserves economic liberty.

Now look at the ideologues of the Democratic party. This crowd voted against the bailout because the government simply didn?t meet their price. If the bailout proposal came with a $100 million no-strings-attached earmark for every congressional district, does anyone doubt that Jesse Jackson Jr. would hail this ?heroic? legislation? Does anyone doubt that Mike Pence would still have voted against it?

In short, we?ve already established what kind of party the Democrats are, now we?re just haggling about their price.

— Jonah Goldberg is the author of Liberal Fascism: The Secret History of the American Left from Mussolini to the Politics of Meaning.

 
Quote    Reply

Jeff_F_F    Nice analogy   10/1/2008 12:08:37 PM
I'd say it is more like they needed to remove your spleen, but they weren't sure so they decided to play it safe and remove your entire viscera. You get better and everyone is happy. Kudos and pats on the back all around. But now you'll have to be fed through a tube for the rest of your life.
 
In our case, they are trying to fix a problem, but further entangling the federal government in the financial sector of the economy is 100% certain to create a new problems down the road. Future leaders WILL use that power to try to "improve" things the way Bill Clinton used his influence over Fannie Mae and Freddy Mac to "improve" things by helping more low income and minority people get loans for homes. This isn't hypothetical. It is a guaranteed cause and effect reality.
 
The first law of good intentions is that every action has an equal and opposite unintended concequence.
 
Quote    Reply

xylene       10/1/2008 2:11:01 PM
What I find astonishing are the numbers of senators and congressmen willing to vote for this thing that may not heve even read it. Seems Capitol Hill looked like a horse trading pit with some congressmen will to vote either way in exchange for favors.
 
George Bush and his cronies said the world would end if the bail-out was not signed. Well the world did not end. Somethings never change.  
 
What is exacerbating the problem is the banks not coming forward with how much bad debt they truly have. Until they do this we are shooting in the dark. $700 billion may prove to not be enough and we will be in the same situation again next week. The government needs to get an accounting of the magnitude of the problem and ensure there is no bank covering something up.
 
If they are an automatic death penalty should be established. Well they should at least be accorded a fair trial, then executed :)
 
Quote    Reply

RockyMTNClimber    Editing....   10/1/2008 2:42:28 PM
George Bush and his cronies Barney Frank, Joe Biden, Barry Hussein, Nancy Pelosi, Harry Reid, Chas Schumer, Dodd, Cuomo, Clinton (s), and how many others?
 
Bush needs to pick his cronies more carefully I think.
 
Check Six
 
Rocky
 
Quote    Reply

hardcharger    You Libs really Need to Wake Up   10/1/2008 3:48:32 PM

What I find astonishing are the numbers of senators and congressmen willing to vote for this thing that may not heve even read it. Seems Capitol Hill looked like a horse trading pit with some congressmen will to vote either way in exchange for favors.

 

George Bush and his cronies said the world would end if the bail-out was not signed. Well the world did not end. Somethings never change.  

 

What is exacerbating the problem is the banks not coming forward with how much bad debt they truly have. Until they do this we are shooting in the dark. $700 billion may prove to not be enough and we will be in the same situation again next week. The government needs to get an accounting of the magnitude of the problem and ensure there is no bank covering something up.

 

If they are an automatic death penalty should be established. Well they should at least be accorded a fair trial, then executed :)


The root of this problem began in 1977, (Remember who was President then???) The is based on a foolish, albeit noble attempt to make home ownership affordable for those who could not afford it. Plain and simple.
 
Now, over and over people on here, not all of them hard core conservatives has pasted quotes, congressional records and sucjh clearly showing that not only did President Bush (17 Times), Senators Dole, Sununu, Lugar, Mc Cain and several other REPUBLICANS have been warning of this, purposed bills to prevent this and railed against this. Even your revered Bill Clinton teamed with Republicans in congress to try and stem this and in his own words, "Was Blocked by Democrats on the hill"
 
It was Senators, Dood, Ried, and congressmen from the black caucus like Maxine Waters not to mention the Mother of all Hypocrites Barney Frank that not only blocked but ridiculed the suggestion that something needed to be done.
 
Xylene - you can throw alot of things at President Bush, BUT THOIS AIN't ONE OF THEM, this was not obnly greed for money, but a method of vote buying by Democrats over the years, and the FACTS ARE THE FACTS
 

 
 
Quote    Reply
Pages: PREV  1 2 3 4 5 6   NEXT



StrategyWorld.com© 1998 - 2009StrategyWorld.com. All rights Reserved. StrategyWorld.com, StrategyPage.com, FYEO, For Your Eyes Only and Al Nofi's CIC are all trademarks of StrategyWorld.com Privacy Policy