The democrats played Russian roulette with one bullet; they spun the cylinder, pulled the trigger, and America, YOU JUST LOST!
McVomit (a/k/a barf) and the democrats pushed through healthcare, AGAINST the wishes of the American people. McVomit promised, “those who like you doctor can keep them,” and also proclaimed, “There will be no federally funded abortion,” as he signed Executive Order #EO 13535. To rally support, liberal progressives touted “this healthcare bill will reduce the deficit by roughly $138 billion over the first ten years and by $1.2 trillion over twenty years. http://www.economyincrisis.org/content/how-health-care-bill-will-save-us-money And lest we not forget, “No 'public option' or single payer system.” But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Gullible, senseless, ignorant, stupid, naïve American people … are you listening to what is happening? Are you reading about it? Are you watching the news? Let’s just look at the lies listed just in the paragraph above. “Stupak the stupid” lied; he deceived his constituents and the American people … despite PRETENDING to stand valiantly as leader of the Stupak 13 on the issue of federally-funded abortion. Yet upon further investigation, Stupak said that he would vote for healthcare “even if it included federally funded abortion” at a town hall meeting in Cheboygan, MI … He was posturing. He is a progressive. He would pass the healthcare bill EVEN IF IT DID NOT HAVE LANGUAGE AGAINST FEDERALLY-FUNDED ABORTION. Source: http://www.youtube.com/watch?v=URr68joWr1E&feature=player_embedded So why didn’t we find this before the bill was passed? Now add federally funded abortions to MD to PA and NM. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Doctors are fleeing from the practice of medicine, doctors are limiting the number of Medicaid patients, and über-controversial Dr. Donald M. Berwick is appointed to oversee Medicare and Medicaid, not by congressional nomination and vetting, but in a back-room recess appointment, made by none other than McVomit. http://www.npr.org/blogs/thetwo-way/2010/07/07/128354689/president-obama-uses-recess-appointment-to-name-medicare-and-medicaid-head or http://www.topnews.in/donald-berwick-new-head-medicare-and-medicaid-administering-agency-2266692 and even http://www.registerguard.com/csp/cms/sites/web/opinion/25023174-47/health-berwick-care-patients-treatment.csp But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
And today, botox face has the gall to get in front of the cameras and tell the American people that “single-payer option” will save $67 billion over the next 10 years. But the democrats just authorized $35 billion to extend unemployment benefits to 120 weeks at a price tag to taxpayers of $35 billion, without being paid for AND WILL BE ADDED TO OUR NATIONAL DEBT. Normally, these benefits are paid by the states. This time, the payments are the responsibility of the American taxpayer! But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Kagan will be confirmed as the next Supreme Court Justice. She is a radical progressive with liberal ideas and writings. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
The Financial Bill, a bill that will fundamentally destroy our free market and America as we know her, was passed by the Senate “[B]arely 10 minutes after Vice President Joe Biden administered the oath of office to Goodwin, the Senate began the roll call vote…” McVomit signed it into law in the REAGAN Building … That is an insult to the memory of the late Ronald Reagan. It creates another layer of “appointed” not elected bureaucrats (like the Van Joneses), it strips America of her identity, and it takes complete control of the free market and American business sector and puts it under the CONTROL of the government. More importantly, it intrudes into the life and privacy of regular American citizens.
Summary of S. 3217 at: http://banking.senate.gov/public/_files/FinancialReformSummary231510FINAL.pdf
Read the entire S. 3217 bill at: http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s3217pcs.txt.pdf and
the amendment: http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s3217as.txt.pdf
But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Remember Craig Becker? In an article, Obama Bypasses Senate; Appoints Becker to NLRB, “Barack Obama and organized labor have made no secret about promoting each other's interests. Indeed, his 2008 presidential victory would have been much more difficult in absence of union financial contributions and volunteer work. Thus, Obama's recess appointment Saturday of Craig Becker to the National Labor Relations Board, effectively overriding a Senate Republican filibuster last month, served as a political IOU as well as an expression of the president's will. Becker, currently a top union lawyer, has argued that workers should not have any right to opt out of union representation.”
Source: http://nlpc.org/stories/2010/03/28/obama-bypasses-senate-appoints-becker-nlrb
Watch out America ... Here comes “card check,” the payback by McVomit to the unions who supported his election, a concept that will affect America’s ability to compete in the market, while lowering our standard of living, our prosperity and our wealth … One more step in the NWO and McVomit's plan for redistribution of wealth. The gasoline is being poured over us … McVomit and his band of radical liberal progressives will strike the match and ignite the fire. The figurative pain will be more excruciating and will last much longer than the literal pain. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Bloom and Sunstein and Berwick and all the rest of the McVomit's czars have unelected and previously unparalleled power. This is what happened in Nazi Germany … WAKE UP AMERICA! We should be in the streets screaming at the top of the lungs. Look at the people in CA who are protesting salaries of city workers who make $800,000 to $1,000,000 per year. They are raising a STINK and so must we!! Who cares about Shirley Sherrod … she is A DISTRACTION!! What is the motive of McVomit, this administration, and the liberal progressive left? No one covered the devastation of the FINANCIAL BILL or the EXTENSION OF UNEMPLOYMENT because the news loop covered and repeatedly covered … non-stop the story of Vilsack's apology, the NAACP tape of the March meeting, and the Sherrod interviews. Why are they constantly bashing and blaming FOX News? But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Fooled again AMERICA!! Fool me one, shame on you, fool me twice, shame on me. Continue and America gets everything she and her oblivious, naïve, ignorant citizens deserve ... the thought of what is ahead is way too horrific. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Do you remember FDR and the “The Gold Confiscation Of April 5, 1933?” Will they implement this law before or after they declare guns illegal?
From: President of the United States Franklin Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102
Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled ‘An Act to provide relief in the existing national emergency in banking, and for other purposes~', in which amendatory Act Congress declared that a serious emergency exists,
I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order:…” blah, blah, blah. There are laws against food hoarding, and there will be laws against growing and sharing food from a garden because of the concern for “consumer safety!” No one seems to care. After all, Shirley Sherrod was mistakenly fired.
Our friends from Europe, Australia, and from the North, tried to warn us. We still wanted to have tea parties and protest on street corners with signs; however, McVomit, this administration, and the liberal progressive left have vilified the members of the tea party, called us racists, and then on March 4, 2010 McCain-Lieberman introduced a bill: McCain and Lieberman's "Enemy Belligerent" Act Could Set U.S. on Path to Military Dictatorship.” The article reads in part:
"Glenn Greenwald calls the bill "probably the single most extremist, tyrannical and dangerous bill introduced in the Senate in the last several decades.
Senator John McCain (L) of Arizona listens as Senator Joe Lieberman (R) of Connecticut speaks during a press conference in Washington, DC. The two senators unveiled legislation Thursday aimed at requiring that suspected "high-value" terrorists face interrogation and trial by the US military, not civilian questioners and courts.
On March 4, 2010, Senators John McCain and Joe Lieberman introduced a bill called the "Enemy Belligerent Interrogation, Detention, and Prosecution Act of 2010" that, if passed, would set this country on a course to become a military dictatorship.
The bill is only 12 pages long, but that is plenty of room to grant the president the power to order the arrest, interrogation, and imprisonment of anyone -- including a U.S. citizen -- indefinitely, on the sole suspicion that he or she is affiliated with terrorism, and on the president's sole authority as commander in chief.
The Act begins with the following (convoluted) requirement:
Whenever within the United States, its territories, and possessions, or outside the territorial limits of the United States, an individual is captured or otherwise comes into the custody or under the effective control of the United States who is suspected of engaging in hostilities against the United States or its coalition partners through an act of terrorism, or by other means in violation of the laws of war, or of purposely and materially supporting such hostilities, and who may be an unprivileged enemy belligerent, the individual shall be placed in military custody for purposes of initial interrogation and determination of status in accordance with the provisions of this Act."
Source: http://www.alternet.org/rights/146081/mccain_and_lieberman's_%22enemy_belligerent%22_act_could_set_u.s._on_path_to_military_dictatorship How can anyone vote for John McCain with a clear conscience? But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Congress falls to an 11% approval rating. Imagine that! But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
This little oil rig went to Egypt, this little oil rig went to the Congo…
First rig sails away over drilling ban “Lawmakers and experts fear loss is only the start of offshore exodus” as “Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States …"
[ http://www.chron.com/disp/story.mpl/business/7101738.html ] and “Diamond Offshore Drilling said Monday it would move a second deepwater rig out of the Gulf of Mexico to waters off the Republic of Congo due to a U.S. drilling moratorium ..." [ http://www.cnbc.com/id/38220145/Diamond_Moves_Second_Drilling_Rig_Out_of_Gulf ]
And as Congress falls to an 11% approval rating, and the number of jobless claims rose by 37,000 to 464,000 this past week, despite having “… lost some applications for unemployment insurance when Congress discontinued extensions to that insurance on July 1. Claims will likely rise now that Congress voted to re-extend that insurance yesterday.” Source: http://moneywatch.bnet.com/economic-news/blog/behind-numbers/new-jobless-claims-rise/200/
And despite these horrendous unemployment numbers, “According to RigLogix, the U.S. offshore rig fleet of 93 rigs of different types is only being used to 38% of capacity. In the Alaskan offshore, none of the four rigs is under use. In the remaining parts of the U.S. offshore, only two of the 28 rigs are in use, a grand total of 7%.
By contrast, 148 of the North Sea’s 159 rigs are under contract, for a 93% utilization rate. Off the coast of Brazil, 68 of the 79 rigs are in use, for an 86.1% utilization rate. West Africa, which includes Republic of Congo, has 67% of its 76 rigs in use. Even Mexico, much maligned for not investing and squandering opportunities, utilizes 52% of its 62 rigs.
Just as the U.S. is falling behind in exports, amounting to only 17% of GDP as the rest of the world sails by with higher numbers, the 34% rig utilization shows how badly we’re falling behind offshore. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
The United States should be the global leader on both fronts. Instead, an arbitrary offshore drilling moratorium pushes the country further back in the pack. This is hurting the Gulf of Mexico’s economy even more than the BP spill, and now it’s giving Congo a competitive edge over us.” What is wrong with McVomit? This moratorium will drive unemployment numbers higher for very highly-trained, well-paying American jobs and create a greater dependency on foreign oil. Like the trucks that travel US highways from Mexico, the large vessels that carry oil from foreign shores are NOT being regulated as tightly. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
And for those who scoffed at my efforts to support a conservative Republican candidate for the Texas Supreme Court during the state primaries … you fools. Look at what is happening in AZ and with the Supreme Court of the United States of America. Will the federal judge issue an injunction prohibiting SB 1070 from being enforced? The state supreme court position is a stepping stone to being a federal judgeship or, in some instances, to an appointment as a justice on the Supreme Court of the United States of America. But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
I don’t think they have the votes, nor do they have the political capital to attempt to get Crap n Tax through; however, don’t let your guard down. If oil gets too expensive, McVomit may have the impetus to pass crap n tax legislation, all in the name of an emergency, you know. Now, it’s just over-kill. We are the mortally wounded whale or the Titanic, destined to sink … But no one seems to care. After all, Shirley Sherrod was mistakenly fired.
Our economy, our freedoms, our lives, our existence, our future, and our country are in the crapper. I never thought I would say this, but today I feel compelled to … “America, I don’t think we are going to make it. Or are we?” How committed are you? And what are you willing to do about it?
Showing posts with label Reid. Show all posts
Showing posts with label Reid. Show all posts
Thursday, July 22, 2010
Tuesday, July 13, 2010
The United States of America has been mortally wounded... and like the Titanic, now it's just a matter of time.
God may be the only one to help us now. This boat is sinking. She has been mortally wounded ... the other bills they will pass between now and during the lame duck session (before the new Congress is sworn in) will only ensure that she sinks faster. It is now a matter of time, and out of our hands. My posts on other sites, and for those of you who do not believe that dirty harry is as sinister as they come, I'll tell you, if he gets a nod from the NRA ... this guy is toxic, the bill is toxic ... another 2000+ page bill that adds another level of Venezuelan/Nazi Germany-style government bureacracy. The IRS tax evader, geithass-ner can go in, grab your company, and liquidate assets ... Sound like what the Founding Fathers had in mind? Didn't think so. This is not about protecting the people. It is all about control!
I have called Scott Brown's offices, and hope you will also. He was a candidate that was not supported by the GOP, and it was NOT MA that got him elected against Coakley, but a nationwide effort of patriotic Americans. I told him I wanted my money back. He has turned his back on the American people. It was the American people who raised $1.5 million during his moneybomb and I am ashamed I rallied for it. At a time when the dems NEED Republicans, they were there, lining up to sign onto these liberal, socialized, progressive bills. The Republicans needed to stand together. I am so pissed I cannot see straight.
Scott Brown WA contact info:
Phone: (202) 224-4543
Fax: (202) 228-2646
Scott Brown MA contact info:
Phone: (617) 565-3170
Fax: (617) 723-7325
I was in my car today, and an economist (sorry, didn't get his name) was interviewed on the radio ... the dems have created entitlements. By 2012 we may have a new president, but he/she will not take office until 2013 ... HELLCARE will be in effect, we will have been taxed out the wazooo for three years, and no one will have the stomach to revoke it, nor the power to do it. With the Financial NIGHTMARE bill ... it is no longer if, but becomes instead, simply a matter of time. How long are they able to keep this Titanic a/k/a the USA afloat after she has been mortally wounded? Crap n tax, the Financial NIGHTMARE ... these will just ensure that she sinks faster. The government has NEVER HAD such unprecedented power in the history of this Republic. I can't believe it's happening, but guys ... prepare to go down. The races are incited, the rhetoric is inflamatory. Oh, God, please help us. I cannot stop the tears from flowing. Dear God, I pledge to you, my life, my fortune, my sacred honor, anything, for just one opportunity to turn this around and stop the madness ... I beg for just one chance.
They cannot pass a financial reform bill without disbanding Freddie and Fannie ... but wait, F&F have the crap n tax patents, don't they? These rats in power will be the ones making the money ... and will reduce the rest of the country to paupers. It gives the government untold and unspecified power. Ovomit was pleased. Why is the Dept of the Interior handling the Gulf spill and not the Dept. of Energy? Add immigration to the mix with an ADDITIONAL pricetag of over a trillion dollars.
It's over; Endgame; Checkmate; Game, set, match.
****
Senate Plans Final Passage of Finance Bill This Week
July 13 (Bloomberg) -- The U.S. Senate plans to take up the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.
Majority Leader Harry Reid said he will file a procedural motion today that will permit the Senate to take final action by the end of this week and send the bill to President Barack Obama’s desk.
“We’re cleaning up Wall Street,” said Reid, a Nevada Democrat. “We’re going to make sure big bankers never again gamble away our future.”
The decision to seek a vote comes after Republicans Scott Brown of Massachusetts and Olympia Snowe and Susan Collins, both of Maine, said they would back the bill. Senator Ben Nelson, a Nebraska Democrat, announced today he would vote yes after telling reporters yesterday he was undecided.
Their support gives Democrats the 60 votes needed to end debate in the chamber and move to a final vote, which will require a simple majority. Reid said the final vote could come as late as July 17.
“We listened to them carefully and I’m very appreciative of their support,” Senator Christopher Dodd, a Connecticut Democrat and the lead architect of the legislation, said today of the three New England Republicans.
The House of Representatives approved the legislation on June 30, five days after lawmakers worked through a 20-hour marathon session to merge versions approved separately by the House and Senate.
Obama Pleased
Obama said the legislation would help prevent another financial crisis. “I urge the Senate to act quickly so I can sign it into law next week,” he said.
The bill creates a consumer bureau at the Federal Reserve, a council of regulators to monitor firms for systemic risk to the economy and a mechanism for liquidating large financial firms whose collapse would threaten the economy.
Reid, whose party controls 59 of the Senate’s 100 seats, must avoid further defections by Democrats to retain the 60-vote supermajority needed to thwart Republican opposition.
Senator Russell Feingold, a Wisconsin Democrat who opposed the Senate bill in May, said last month that he will again vote against it. Senator Maria Cantwell, a Washington Democrat who opposed the measure in May, said she plans to back the final bill.
Not Perfect
Brown praised the legislation for setting up and defining some types of trading, improving transparency and ending the government practice of propping up large financial firms.
“While it’s certainly not a perfect bill, I think it goes a good measure to make sure we don’t have the same type of problems that we had before,” he told reporters.
Snowe said in a statement that the bill “takes necessary steps to implement meaningful regulatory reforms, create strong consumer protections, and restore confidence in the American financial system.”
Another Republican vote could come from Senator Charles Grassley of Iowa, who voted for an earlier version of the bill. He said today in a Bloomberg Television interview that he remains undecided. His spokeswoman, Jill Kozeny, said in an e- mail last week that the lawmaker is “very concerned” about the mechanism Democrats created to pay for the bill after removing a bank fee. The revised plan calls for ending the $700 billion bailout program early and increasing banking-industry deposit- insurance fees.
Byrd’s Death
Republican support became more crucial for Democrats when West Virginia’s Robert Byrd died last month at age 92 after serving more than 50 years in the Senate. West Virginia’s legislature is scheduled to meet July 15 to clarify the process for replacing the Democratic lawmaker, Sara Payne, a spokeswoman for Governor Joe Manchin, said yesterday in an e-mail.
The overhaul bill drew scant support from Senate Republicans because it “stayed on the far left and therefore was not in the end appealing to most of my members,” Republican leader Mitch McConnell of Kentucky said today at a news conference.
--With assistance from Phil Mattingly, James Rowley and Kate Andersen Brower in Washington. Editors: Lawrence Roberts, Gregory Mott
Source: http://www.businessweek.com/news/2010-07-13/senate-plans-final-p
Obama Finance Bill Will Allow Seizure of Companies
Friday, 21 May 2010 02:38 PM
By: Dick Morris & Eileen McGann
President Barack Obama has taken the United States one more giant step towards socialism by ramming through the Senate his financial regulation bill.
The bill authorizes the secretary of the Treasury — a political appointee — to seize any financial company (bank or nonbank) simply because, in his opinion, it is too big to fail and in danger of insolvency.
This power can be used for political retribution, pressure for campaign funding, or any other abuse bureaucratic whim or partisan politics can conceive. It is a power Fidel Castro or Hugo Chavez would love to have!
The legislation also requires that any business that extends credit, in any form, to clear the loan instrument in advance with the new consumer protection agency. The backlog of pending applications will strangle consumer credit.
And the bill fails to do the one thing it must do — regulate derivatives and make them transparent. Senator Chris Dodd, D-Conn., bowed to pressure from his sponsors on Wall Street and deleted the regulatory provision and set up a commission to study the situation for two years!
Sen. Maria Cantwell, D-Wash., protested the cop-out with a no vote against the legislation.
So how did it pass? Four Republicans sold out, that´s how!
Among the RINOs were, of course, Susan Collins and Olympia Snow of Maine. But, surprisingly, Scott Brown, R Mass., the newly elected Massachusetts miracle defected as did the normally stalwart Chuck Grassley, R-Iowa.
Now the federal government has effectively taken over about one-third of our national economy by passing Obamacare and regulatory reform in almost the same breath.
Repealing this regulatory travesty must be high on our 2011 agenda!
http://www.newsmax.com/Morris/finance-bill-barack-obama/2010/05/21/...
I have called Scott Brown's offices, and hope you will also. He was a candidate that was not supported by the GOP, and it was NOT MA that got him elected against Coakley, but a nationwide effort of patriotic Americans. I told him I wanted my money back. He has turned his back on the American people. It was the American people who raised $1.5 million during his moneybomb and I am ashamed I rallied for it. At a time when the dems NEED Republicans, they were there, lining up to sign onto these liberal, socialized, progressive bills. The Republicans needed to stand together. I am so pissed I cannot see straight.
Scott Brown WA contact info:
Phone: (202) 224-4543
Fax: (202) 228-2646
Scott Brown MA contact info:
Phone: (617) 565-3170
Fax: (617) 723-7325
I was in my car today, and an economist (sorry, didn't get his name) was interviewed on the radio ... the dems have created entitlements. By 2012 we may have a new president, but he/she will not take office until 2013 ... HELLCARE will be in effect, we will have been taxed out the wazooo for three years, and no one will have the stomach to revoke it, nor the power to do it. With the Financial NIGHTMARE bill ... it is no longer if, but becomes instead, simply a matter of time. How long are they able to keep this Titanic a/k/a the USA afloat after she has been mortally wounded? Crap n tax, the Financial NIGHTMARE ... these will just ensure that she sinks faster. The government has NEVER HAD such unprecedented power in the history of this Republic. I can't believe it's happening, but guys ... prepare to go down. The races are incited, the rhetoric is inflamatory. Oh, God, please help us. I cannot stop the tears from flowing. Dear God, I pledge to you, my life, my fortune, my sacred honor, anything, for just one opportunity to turn this around and stop the madness ... I beg for just one chance.
They cannot pass a financial reform bill without disbanding Freddie and Fannie ... but wait, F&F have the crap n tax patents, don't they? These rats in power will be the ones making the money ... and will reduce the rest of the country to paupers. It gives the government untold and unspecified power. Ovomit was pleased. Why is the Dept of the Interior handling the Gulf spill and not the Dept. of Energy? Add immigration to the mix with an ADDITIONAL pricetag of over a trillion dollars.
It's over; Endgame; Checkmate; Game, set, match.
****
Senate Plans Final Passage of Finance Bill This Week
July 13 (Bloomberg) -- The U.S. Senate plans to take up the financial-regulation bill on July 15 as Democrats secured the 60 votes needed to enact the biggest rewrite of Wall Street rules since the Great Depression.
Majority Leader Harry Reid said he will file a procedural motion today that will permit the Senate to take final action by the end of this week and send the bill to President Barack Obama’s desk.
“We’re cleaning up Wall Street,” said Reid, a Nevada Democrat. “We’re going to make sure big bankers never again gamble away our future.”
The decision to seek a vote comes after Republicans Scott Brown of Massachusetts and Olympia Snowe and Susan Collins, both of Maine, said they would back the bill. Senator Ben Nelson, a Nebraska Democrat, announced today he would vote yes after telling reporters yesterday he was undecided.
Their support gives Democrats the 60 votes needed to end debate in the chamber and move to a final vote, which will require a simple majority. Reid said the final vote could come as late as July 17.
“We listened to them carefully and I’m very appreciative of their support,” Senator Christopher Dodd, a Connecticut Democrat and the lead architect of the legislation, said today of the three New England Republicans.
The House of Representatives approved the legislation on June 30, five days after lawmakers worked through a 20-hour marathon session to merge versions approved separately by the House and Senate.
Obama Pleased
Obama said the legislation would help prevent another financial crisis. “I urge the Senate to act quickly so I can sign it into law next week,” he said.
The bill creates a consumer bureau at the Federal Reserve, a council of regulators to monitor firms for systemic risk to the economy and a mechanism for liquidating large financial firms whose collapse would threaten the economy.
Reid, whose party controls 59 of the Senate’s 100 seats, must avoid further defections by Democrats to retain the 60-vote supermajority needed to thwart Republican opposition.
Senator Russell Feingold, a Wisconsin Democrat who opposed the Senate bill in May, said last month that he will again vote against it. Senator Maria Cantwell, a Washington Democrat who opposed the measure in May, said she plans to back the final bill.
Not Perfect
Brown praised the legislation for setting up and defining some types of trading, improving transparency and ending the government practice of propping up large financial firms.
“While it’s certainly not a perfect bill, I think it goes a good measure to make sure we don’t have the same type of problems that we had before,” he told reporters.
Snowe said in a statement that the bill “takes necessary steps to implement meaningful regulatory reforms, create strong consumer protections, and restore confidence in the American financial system.”
Another Republican vote could come from Senator Charles Grassley of Iowa, who voted for an earlier version of the bill. He said today in a Bloomberg Television interview that he remains undecided. His spokeswoman, Jill Kozeny, said in an e- mail last week that the lawmaker is “very concerned” about the mechanism Democrats created to pay for the bill after removing a bank fee. The revised plan calls for ending the $700 billion bailout program early and increasing banking-industry deposit- insurance fees.
Byrd’s Death
Republican support became more crucial for Democrats when West Virginia’s Robert Byrd died last month at age 92 after serving more than 50 years in the Senate. West Virginia’s legislature is scheduled to meet July 15 to clarify the process for replacing the Democratic lawmaker, Sara Payne, a spokeswoman for Governor Joe Manchin, said yesterday in an e-mail.
The overhaul bill drew scant support from Senate Republicans because it “stayed on the far left and therefore was not in the end appealing to most of my members,” Republican leader Mitch McConnell of Kentucky said today at a news conference.
--With assistance from Phil Mattingly, James Rowley and Kate Andersen Brower in Washington. Editors: Lawrence Roberts, Gregory Mott
Source: http://www.businessweek.com/news/2010-07-13/senate-plans-final-p
Obama Finance Bill Will Allow Seizure of Companies
Friday, 21 May 2010 02:38 PM
By: Dick Morris & Eileen McGann
President Barack Obama has taken the United States one more giant step towards socialism by ramming through the Senate his financial regulation bill.
The bill authorizes the secretary of the Treasury — a political appointee — to seize any financial company (bank or nonbank) simply because, in his opinion, it is too big to fail and in danger of insolvency.
This power can be used for political retribution, pressure for campaign funding, or any other abuse bureaucratic whim or partisan politics can conceive. It is a power Fidel Castro or Hugo Chavez would love to have!
The legislation also requires that any business that extends credit, in any form, to clear the loan instrument in advance with the new consumer protection agency. The backlog of pending applications will strangle consumer credit.
And the bill fails to do the one thing it must do — regulate derivatives and make them transparent. Senator Chris Dodd, D-Conn., bowed to pressure from his sponsors on Wall Street and deleted the regulatory provision and set up a commission to study the situation for two years!
Sen. Maria Cantwell, D-Wash., protested the cop-out with a no vote against the legislation.
So how did it pass? Four Republicans sold out, that´s how!
Among the RINOs were, of course, Susan Collins and Olympia Snow of Maine. But, surprisingly, Scott Brown, R Mass., the newly elected Massachusetts miracle defected as did the normally stalwart Chuck Grassley, R-Iowa.
Now the federal government has effectively taken over about one-third of our national economy by passing Obamacare and regulatory reform in almost the same breath.
Repealing this regulatory travesty must be high on our 2011 agenda!
http://www.newsmax.com/Morris/finance-bill-barack-obama/2010/05/21/...
Subscribe to:
Posts (Atom)