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October 2, 2008
Rhetoric Wrecks
Posted: 11:22 AM ET
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Steve Turnham
AC360 Producer

Conservative House Republicans say they were close to voting for the Wall Street rescue package Monday, thanks in part to John McCain's insistance that their voices be heard.

What they say tipped them into the no column was a sense that the bill had been larded with giveaways to liberal housing advocates, and a speech by House Speaker Nancy Pelosi they say made the vote intensely political.

The bill now before the house strips out those giveaways and instead sends the money to deficit reduction. It also includes a big item proposed by Barack Obama and quickly backed by John McCain - an increase in federal deposit insurance from $100,000 to $250,000.

If they were as close as they say to swallowing the package, these new provisions should make it go down easier on Friday.

But if Democratic leaders use the floor vote as an opportunity to hammer the GOP again, all bets are off.

15 Comments
More about: Bailout Turmoil •  Raw Politics
15 Comments
Shannon from Oregon   October 2nd, 2008 12:46 pm ET

Why aren't they voting today? Are their feelings still hurt? Poor babies. They don't seem to be too worried about how their country is going down the tubes. Why doesn't the President insist that they vote NOW...

cynthia debbs   October 2nd, 2008 12:52 pm ET

Please use this joke that is so true.

Looking for Work

A Japanese doctor said, 'Medicine in my country is so advanced
that we can take a kidney out of one man, put it in another, and have
him looking for work in six weeks.'

A German doctor said, 'That's nothing, we can take a lung out
of one person, put it in another, and have him looking for work in four
weeks.'

A British doctor said, 'In my country, medicine is so
advanced
that we can take half of a heart out of one person, put it in another,
and have them both looking for work in two weeks.'

A Texas doctor, not to be outdone said, 'You guys are way
behind. We took a man with no brains out of Texas , put him in the White
House and now half the country is looking for work.

Cindy   October 2nd, 2008 12:56 pm ET

I'm glad that the bill didn't pass the house the first time. It actually got rid of the money given to special interest groups who don't need it. Why are they always trying to add earmarks and crap to bills when they are wasting our money!?

I hope this time Pelosi can keep her rhetoric to herself so that this bill will go through the house when they choose to vote for it.

Cindy..Ga.

Arachnae   October 2nd, 2008 1:02 pm ET

Oh please. The GOP had no intention of passing the bill on Monday. How can I say this with such certainty? Because they had already produced an ad, which was sent to stations before the vote was even held, criticizing the Democratic majority for PASSING the bill that actually did not pass. See politico.com – The wording of the ads, airing now, presumes that the Dems, being the Good Guys that they are, made up for the GOP defections and passed the bill.

Got that? While they're in negotiations on how to pass a bill, and appearing before cameras to say how important it is that this bill passes, they are already planning to pull enough votes so that the Dems take full ownership of an unpopular if necessary measure.

Truly disgusting.

earle, provincetown   October 2nd, 2008 1:05 pm ET

Just imagine last nights, senate 75/25 vote ,a three to one margin,but for what? Spend, Spend, and Spend somemore ,pile it on brother's and sister's,go to the "Money Tree" ,the two-hundred million(beast-of- burden's) working stiffs ,whose backs our already broken. They'll never repent their way's,these lifetime(politicians) blood-sucker's we call our elected(officially) leader's!!! Let's get a ,"TEA PARTY",going?

Sharon Kitchen   October 2nd, 2008 1:17 pm ET

so....homes/stocks/banks/payroll/troops/life on hold???????

joe   October 2nd, 2008 1:18 pm ET

If I was the president, I woul find the names of the top CEO's, VP's, Presidents and big management for all this banks and financial firms then I would freese there bank accounts and any assets they may have in the U.S and over seas, then take 80% of what they have, use that money to bailout the companies they put on bankruptcy and then use tax payers money for the rest of money needed to get out of this mess.

Sandy, Arkansas   October 2nd, 2008 1:37 pm ET

Hey, I like Joe's idea! Irresponsible behavior does not need to be rewarded, it needs to be penalized. Why not get salraies on Wall Street in line with what the citizen down on Main Street makes and is using to try to buy groceries and keep a roof over their heads.

It is politics as usual in Washington. The Democrats against the Republicans and the Republicans against the Democrats and neither party for the American people.

How about finding someone to oversea all the bailout money who was not neglegent in the oversight and mismanagment that got us here? We are just putting the wolf in charge of the hen house!

chuck   October 2nd, 2008 1:38 pm ET

The House Republicans can talk ,talk,talk--But one thing I'm certain they cannot change is the winner of the elections--–Obama/Biden.

Jan from Wood Dale IL   October 2nd, 2008 1:41 pm ET

Please double check your facts...it was the head of the FDIC who proposed increasing federal deposit insurance from $100,000 to $250,000, and NOT Obama's proposal. Obama and McCain both readily agreed with the head of the FDIC's proposal.

And if you want to really keep them honest, the Senate bill that was just approved included some of the following:

$6 million in tax breaks for manufacturers of kids' wooden arrows (Sec. 503)
$192 million in tax breaks for PR and Virgin Island rum producers (Sec. 308)
$10 million for small to medium budget film and TV studios (Sec. 502)
$128 million for auto race tracks (sec. 317)

The Congressional Budget Office said the package of tax breaks the Senate has added to their bill - including obvious pork and some more defensible tax-relief measures - will add about $112 BILLION to budget deficits over the next 5 years because the bill doesn't contain enough offsetting revenue hikes to keep the budget balanced.

The Senate hasn't done us any favors with their passage of an inferior bill stuffed with pork.

larry   October 2nd, 2008 1:47 pm ET

As long as ANY $$ is going to ACORN I am against the bailout; they are just a bunch of crooks disguised as community organizers who work for and support obama.

Elise Bennett   October 2nd, 2008 3:08 pm ET

Take that money and subsidise the gas prices. Tourism will skyrocket and people will begin again enjoying the 'little things' that add up to a healhty economy.
Big buisnesses falling will open for small business to flourish. This may be the tough love America needs to fill the gap between the upper and middle class.

Joe also had a brilliant statement. Kudos.

karen wilson   October 2nd, 2008 3:16 pm ET

Dear Mr Cooper,
You are about the only one I can think of that really wants an objective view from John Q Citizen. My personal belief is that the entire congress, senate and canidates for both Pres and Vice Pres should be run out of the country. Do they think we are simple minded or just
don't get it. The fact is that between the politicians. lobbyist and general fools running this country, we are being sold down the
tubes. It is disgraceful . Do we have to march on Washington once
again to get the point across. I for one have had enough of the fat cats
while the rest of us stuggle to make the mortgage. Not only do they expect middle class America to bail out wall street but the world in large. My question is who is going to bail us out. We need to do some house cleaning and I don't mean with a feather duster. There
should be limits of so called service to this country. Congress, Senate
and Presidents should have 2 terms. At least we can get rid of a President in 8 years. The same should be for everyone. Are they serving the American People or their selves. No need to answer that one. We all know the answer. As far as the fat cats on Wall Street I think you can guess what I think of them. Anything for the almighty dollar as long as it is their almighty dollar. The rest of us (true Americans have to pick up the slack as usual.

GAIL Centre,Al;   October 2nd, 2008 6:13 pm ET

If Nancy Pelosi would keep her mouth shut, they might get this settled. Pelosi is a very good reason not to vote for a democrate.

THEY ARE A BRIDGE TO NO WHERE

Maybe Palin will sell her jet [That is funded by taxpayers] on ebay.
I don't care if she has to walk to CA.

GAIL Centre,Al;   October 2nd, 2008 6:18 pm ET

I'm like Lou Dobbs doesn't anybody deserve a government that works.

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