Archive for September 2008

  • 28 Sep 2008 at 7:50 PM

Democratic Congressional Leaders: Let’s Do The Damn Thing

House Speaker Nancy Pelosi said tonight that there will no more changes to the revised bill, currently posted on her website,* now that it includes caps on executive pay and protection for taxpayers. “Working in a bipartisan way, we have sent a message to Wall Street: ‘The party is over.’ No longer** will the U.S. taxpayer bail out the recklessness of Wall Street,” Pelosi told reporters. According to Harry Reid’s office, the House will vote tomorrow, the Senate on Wednesday.
*Which is not currently accessible.
**Commenter Legal Eagle asks: “Isn’t this exactly what the taxpayers are doing?” Perhaps Madame Speaker meant we’ll ‘no longer’ do it after this last one?

Speaking of Kuciniches and shit, here’s the elder K losing his this afternoon.
Also, 60 Minutes is running a bizarre little special recapping the last few days that you would expect a month or a year after the fact. Paulson and Pelosi were interviewed about the Down On Your Knees heard round the world, and they were both super awkward about it. She started out by denying it had happened, and he immediately went on the defensive claiming it didn’t mean anything, that it was a joke and he was merely injecting some much needed “levity” to the situation. I’m not saying they’ve got something to hide. But I’m not not saying they’ve got something to hide.
Best part: when Paulson says that the American taxpayers are concerned about the bailout and notes that “I would be too,” perhaps implying that he is not in fact a tax paying citizen, which I think we can all agree would add an interesting twist.

  • 28 Sep 2008 at 6:52 PM

GOP Eats “Crap Sandwich”

Hill writer Jackie Kucinich (no relation?) is reporting that House Republican leaders expressed support for the rescue package in a “closed door meeting” of the Republican conference this afternoon. Minority Leader John Boehner (R-OH) is said to have referred to the bill as a “crap sandwich” though begrudgingly admitted it was one he’d have to swallow in the interest of, wait for it, Main Street. Minority Whip Roy Blunt (R-Mo.), Budget Committee ranking member Paul Ryan (R-Wis.), and, most surprisingly, Chief Deputy Eric Cantor (R-Va.), who has most vocally expressed his “I don’t know, I’m nervous about this, I think we’re moving too fast” position in the last 24 hours, all “came out strongly” for the revised bill, as well.
Update: Actually, there is a relation between Jackie and Dennis. She is his daughter.

  • 28 Sep 2008 at 6:26 PM

Ooo, That’s Awkward.

John McCain’s top economic adviser reiterated his conceptual support for the bailout to reporters…but a spokesman told Politico he’s not sure the Arizona senator will actually be on hand for the vote, which now seems likely to come Wednesday.

In other news, Hank Paulson told CNBC’s Steve Liesman: “I have great confidence the plan will work as originally envisioned. We had to make necessary concessions to protect taxpayers and respond to the political process, but this will result in meaningful assistance to financial markets.”

  • 28 Sep 2008 at 3:55 PM

Revised Proposal

Here it is, courtesy of CNN. Summary of 100+ pages by Commenter Guest: “new version– taxpayers get a quasi reach around.”
Politico‘s Daniel W. Reilly writes that Sen. Judd Gregg said this afternoon that the various people consulted with on the bailout claimed this was “worse than anything they had ever seen,” and outlined “specific and graphic scenarios” that would ensue should Congress fail to act. Considering that Warren Buffett was one of those advisors, shall we take a gander at what sort of graphic picture was painted, the details of which we’re sure to see in a snuff film released just in time for the holidays? I love the old kook but you know he went there* (*”You see, Gregg, if this thing doesn’t go through, the US will be a lot like the extras on a Russ Meyer set after I drop by for lunch: screwed. Fucked. Ridden hard and put away wet. I don’t want to scare you, Gregg, but we’re staring down the barrel of this country becoming the equivalent of a dead hooker. And you know The Oracle has no use for those. No judgment here but I’ve yet to see the appeal of the necro fetish. If I was looking for zero response, I’d got with a Real Doll, am I right? Now, where’d that box of See’s go? I just had it here.”)

  • 28 Sep 2008 at 3:37 PM

Kucinich: Not Enough Votes For Bailout

Picture 87.pngAnd apparently this is just like Iraq. Dennis Kucinich told reporters this afternoon, “I will tell you right now I don’t know if they have votes…If the votes were there, this would be on the floor. The votes aren’t there.” In a meeting of House Democrats not so pleased with the $700 billion dubbed the “Skeptics Caucus,” Kucinich claimed: “None of this has been subject to a critical analysis. We haven’t had access to the books to the people who are claiming they are going broke. They rushed this Congress into the Iraq resolution and look what happened. Catastrophe for this nation as well as for the people of Iraq.”
And in an effort to get those of us at home more wasted than we already are, DK added, “There is an attempt to create a fake partisan dichotomy here. This is not about Democrat versus Republican. This is about Main Street or Wall Street” (in an attempt to not die a little inside every time that stupid fucking cutesyism– ” Main Street vs. Wall Street”– is uttered, we’re now taking shots at each mention).

  • 28 Sep 2008 at 2:04 PM

Non-Breaking Forward Looking Statements On Bailout

Reuters reports: “Senate seen voting on financial bailout bill on Wednesday at the earliest.”

  • 28 Sep 2008 at 12:52 PM

McCain/Obama: (Tentative) Support For (Tentative) Bailout

McCain, on ABC’s “The Week” this morning: “Hopefully yes…This is something that all of us will swallow hard and go forward with…the option of doing nothing is simply not an acceptable option.”
Obama, On CBS’s “Face The Nation” this morning: “My inclination is to support it…While I look forward to reviewing the language of the legislation, it appears that the tentative deal embraces these principles [that I said needed to be in the package].”
Great, right? Anyway, since neither of them will wholeheartedly, without reservation, get behind something, we’ll have to pick up the slack.*

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