Pretty much says it all.
To quote CNN...
Rep. Barney Frank, a Massachusetts Democrat who was a key negotiator of the bill, said Republican leaders were blaming Pelosi because they were embarrassed that they failed to get a majority of the Republicans to vote for the bill. Video Watch Frank say the GOP 'punished' the country »
"There's a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis," Frank said. "And because somebody hurt their feelings they decide to punish the country? I mean, I would not have imputed that degree of pettiness and hypersensitivity."
Before the vote, many House Republicans expressed opposition to the bill, saying it departed from free market principles. Republican congressional aides also said calls from constituents were running 10 to 1 against the legislation.
Rep. Jeb Hensarling, a conservative Texas Republican, said before the vote, "The relevant test is, when you look at the good in the bill, when you look at the bad in the bill -- does it take America in a direction that you believe America should go? By that test, Madam Speaker, I will vote no on this legislation.
"I fear that ultimately it may not work. I fear that it is too much bailout and not enough work out. I fear that taxpayers may end up inheriting the mother of all debts," he added.
Another Republican called on members to vote their conscience.
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"Ask yourselves why you came here and vote with courage and integrity to those principles. If, like me, you came here because you believe in limited government and the freedom of the American marketplace, I urge you vote in accordance with your convictions," Rep. Mike Pence, R-Indiana, said.
"Stand up for limited government and economic freedom. Stand up for the American taxpayer. Reject this bailout and vote no on the emergency economic stabilization act," he said.
To quote CNN...
Rep. Barney Frank, a Massachusetts Democrat who was a key negotiator of the bill, said Republican leaders were blaming Pelosi because they were embarrassed that they failed to get a majority of the Republicans to vote for the bill. Video Watch Frank say the GOP 'punished' the country »
"There's a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis," Frank said. "And because somebody hurt their feelings they decide to punish the country? I mean, I would not have imputed that degree of pettiness and hypersensitivity."
Before the vote, many House Republicans expressed opposition to the bill, saying it departed from free market principles. Republican congressional aides also said calls from constituents were running 10 to 1 against the legislation.
Rep. Jeb Hensarling, a conservative Texas Republican, said before the vote, "The relevant test is, when you look at the good in the bill, when you look at the bad in the bill -- does it take America in a direction that you believe America should go? By that test, Madam Speaker, I will vote no on this legislation.
"I fear that ultimately it may not work. I fear that it is too much bailout and not enough work out. I fear that taxpayers may end up inheriting the mother of all debts," he added.
Another Republican called on members to vote their conscience.
advertisement
"Ask yourselves why you came here and vote with courage and integrity to those principles. If, like me, you came here because you believe in limited government and the freedom of the American marketplace, I urge you vote in accordance with your convictions," Rep. Mike Pence, R-Indiana, said.
"Stand up for limited government and economic freedom. Stand up for the American taxpayer. Reject this bailout and vote no on the emergency economic stabilization act," he said.
epic fail
thanks to the us congress i might not have a job next summer
or at least one that i'd like
thanks to the us congress i might not have a job next summer
or at least one that i'd like
Yeah but on a positive note you won't be paying an extra 3 grand in taxes to cover the bad debt on a company that's now going to be sucking at the federal teet in perpetuity.
well, i guess i could just go back to england and work for a british bank. no sucking teats for me
I dunno seems like they have failures of their own to deal with.
not nearly as much - i worked for a british bank in london last summer, right, and i was dealing with the us investment banks.
We'll see... the global economy is very dependent on the US consumer market. And london is tied to the rest of the EU... they haven't even really seen the worst of the worst yet.
Still though, I really think the government investment bill was the right thing to do. Does anyone have a list of who exactly voted no? That kind of information would be .. ace of spades. Now would be a good time to play poker.
Basically most southern republicans voted no. Citing it being unamerican, a bad idea in the long run. Poorly written, and a 10:1 call in from their constituents demanding they vote no.
It was not in any way a good bill IMHO.
It was not in any way a good bill IMHO.
Frankly I am pretty sure the bill was unconstitutional in it's design under the demands of amendment 1 section 8.
where is Lucas on this one? he knows economics and I'm curious what he thinks. bailout plan in general = good or bad idea? this bailout plan (TARP or whatever) = good or bad idea?
It's a question of what you define as good and bad.
sorry, i hate politics.
so hayek owned keynes, right?
bernanke... still not in prison. hat eating to commence in five.
> http://www.youtube.com/watch?v=d0nERTFo-Sk
basically have this on repeat in my office
> so hayek owned keynes, right?
probably not if you ask a politician :)
basically have this on repeat in my office
> so hayek owned keynes, right?
probably not if you ask a politician :)