Monday, September 29th, 2008...1:48 pm
In Case You Are Curious…
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The entire Arizona delegation voted against the bailout.
Geez, John McCain couldn’t even get folks in his home state to vote for this thing, despite suspending his campaign cancelling his appearance on David Letterman? Gosh, he’d do a heck of a job ramming his maverick reformer agenda through congress, won’t he?
10 Comments
September 29th, 2008 at 3:35 pm
Since I read part of the bill, I would have to say I agree with their vote.
September 29th, 2008 at 7:54 pm
I think that the dems should unite and put together the bill that doesn’t buy up toxic assets (at least not at anything more than 10-20% of face value), keep/bring back the items they initially requested ie the mortgage- bankruptcy provisions, oversight, and CEO pay limits. Then they can pass the damned thing and leave McCain and his alleged bi-partisan leadership in the dust.
September 29th, 2008 at 8:58 pm
I agree with their vote as well but I also think it’s a sad commentary on McCain and the Bush Admin’s “leadership” abilities.
Today I was listening to NPR on the way to yoga (I know - how much more LIBERAL can I get?) and they were talking about the US Attorney firing case and they mentioned Harriet Myers…remember her?
I just started rolling through the horrendous failures of the Bush Admin….the war, the tax cuts for the uber wealthy, the tax credits for Hummers, the Harriet Myers nomination, the Cheney “energy commission”, the war, the failure to find Bin Laden, Guantanamo, Abu Gharib, the Patriot Act, the US Attorney firings, the Valerie Plame case, the war….oh and this ill-fated bailout!
By the time I got to yoga I was so angry I really needed some “inner peace”!
September 30th, 2008 at 9:05 am
Can’t let this one pass. You wanna blame McCain for not getting Az Republicans on board? So who gets the blame for Giffords, Mitchell, Grijalva and Pastor (who’s a DEPUTY WHIP in the House) for voting no? Should Obama call his BFF Janet and have her make a plea to her fellow Ds in the state? He coulda, maybe shoulda, but didn’t.
Sorry, Tedski, but as any lawmaker will tell you, when the phones ring off the hook and constituents tell you either “No” or “Hell, no”, you pay attention.
September 30th, 2008 at 12:23 pm
Doug, McCain was all over my TeeVee yesterday morning, claiming that his awesome leadership led to the success of the bill. Which then proceeded to fail, despite the fact that sycophantic Trent Franks was on MSNBC the night before praising McCain’s leadership. Franks voted against the bill McCain supported the next day. After the vote, McCain did a rally where he praised his own handling of the situation again (the failure of the bill he supported?) and admonished Obama for “phoning it in”. Obama wasn’t the one blustering about his “leadership”, McCain was.
September 30th, 2008 at 2:06 pm
Doug, where do you get your information. Since when was Obama and the Governor, fully invested in this package? When? I am unaware of the governor commenting publicly.
*The package on the table did not really benefit anyone in Arizona. First Magnus is not retroactively going to get bailed out and the largest bank operating in Arizona is JP Morgan Chase. Chase does’t need any help they were careful. There was no foreclosure relief in this package, which is very important in Maricopa County, and to a lesser extent Pima County.
*Arizona had no vested interest in some of the banks included in this bailout, while we have Arizonans with Million Dollar portfolios, we have way more with delinquent mortgages on first homes and investments. One of the other dealbreakers was the lack of reversal on the Bankruptcy laws that has hamstrung Main Street and Wall Street. When the Congress passed this legislation through during Bush’s first term, the repercussions were unfathomable. No one thought that making it impossible to forgive debt over-extension, coupled with making it easier to lend people insane amounts money was a recipe for disaster. Well actually, a number of Democrats and a few Republicans refused to get bullied. You can look at legislation on Project Vote Smart to get into the nitty gritty about who was using sound judgment and who was not. McCain was does not look good in how he voted, Obama wasn’t even their. Especially in ‘84, due to age.
* In our older system, individuals and businesses that went bankrupt, were able to settle debt and restructure, Banks and Credit card companies would agree to settlement because the customer had bankruptcy to fall back and the bank knew that overlending with a possible bankruptcy would be a mistake. Banks were not inclined to allow settlement after the 21 century laws on bankrupcy passed. Soon lenders just began charging people interest they were NEVER going to get. In other words, in the past after 90 days past due on a credit card, your card would go to collections, and then settlement could get hammered out, now, the bank just kept charging interest at 90 days, and the customer had no ability to pay, no reason to pay, and no desire to pay. So despite have the lender balancing the client owing 26,000 dollars on paper. It was for all intense and purposes, pretend money. This wouldn’t be a problem if the bank says, “oh bad loan, we can’t count on collecting” instead the banks chose to lend this imaginary money out. As the knight in Indy and the Last Crusade explains: “they chose poorly”. This also happended with Mortgages and private loans. People were lending out money that actually did not exist.
*Now banks are stuck, unable to lend money at all, well, if we are going to give failing banks money, why wouldn’t we give banks who were not stupid enough to screw this up, like Chase, Wells Fargo and Prudential, some money? At least we know they are going to lend it responsibly. If it all goes to Wall Street it will disappear in the giant abyss of un-collectable interest. This is bad for Arizona. Shadegg stated he said no because of his “right wing reasons”, Grijalva stated he said no because of “left wing reasons”, in the end our (Arizona’s) whole crew said no because the deal was no good for Arizona. And if they tweak it and it leaves us out, it leaves foreclosres out, it leaves Arizona Banks out, I say they need to tell the leadership on both sides of the isle to ‘get bent’ again.
*Notice that I wrote all this without slamming conservatives, that still doesn’t mean I don’t blame you guys for this bullcrap. I mean that with all due respect. Which there isn’t alot of.
September 30th, 2008 at 4:24 pm
I was going to respond to Doug’s faulty arguments but ya’ll beat me to it!
October 1st, 2008 at 2:02 am
“reformed maverick” (not “maverick reformer”)–go to weblink below for hilarious anti-McCain short video from Jon Stewart–WARNING–very irreverent…
http://www.thedailyshow.com/video/index.jhtml?videoId=184113&title=john-mccain-reformed-maverick&byDate=true
October 1st, 2008 at 9:24 am
Hey, people. Nothing faulty in my argument. Notice I did not get into the merits of the bill. I’m just talking about whipping a vote.
If you’re going to blame McCain for the votes of Franks, Renzi, et al, fine. But the Ds have some ’splainin’ to do, too.
Tedski’s original argument was that McCain failed to whip the AZ GOP delegation. That’s not necessarily an unfair argument. But where’s the criticism of any Democrat for failing to convince Mitchell or Giffords, or even Pastor who is a Deputy Whip himself? Fair’s fair.
I said there’s no reason why Obama (”I’m just a phone call away”) couldn’t have called his good friend Janet Napolitano and urged her to make a pitch to some of her colleagues in the House delegation. Apparently, that didn’t happen. If it had happened, maybe a few more yes votes would have been cast.
October 1st, 2008 at 3:17 pm
Again, why get behind a bad relief package….right now, I have doubts it will pass again…it may pass the Senate, but the era of knee-jerk reaction policy is hopefully over…..unless McCain gets elected.
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