Entire AZ delegation says 'no' to bailout
By Evan Brown, PolitickerAZ.com ReporterThe eight members of the Arizona delegation to the U.S. House - split evenly between Democrats and Republicans - spoke with one voice Monday in opposing the bailout bill before Congress, which was defeated on a vote of 205-228.
Unity is a rare occurence when it comes to the votes of House members from Arizona, but on Monday, the fiscally conservative streak that runs throughout the whole of Arizona politics was evident, as all eight members voted down the bill.
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Now that it passed
I hope what they did turns out to be a good thing. I don't know enough about economics or high finance to understand to the degree I would like. I tilted toward passing the bill, I admit, out of fear. I accept that those who wanted to do nothing had the ultimate best interests of the public in mind. But I could not stand by and risk the assets that have taken me and my wife a pair of lifetimes to build. I'm too close to the end of the trail to walk away with nothing because some greedy people wrecked the system.
No this is not a lab experiment
... and that is exactly why the markets should be left to fend for themselves. There'll be winners and loosers, but in the end (about 27 months from now) the economy will have reset itself, housing will return to where it should be, energy prices will settle a little higher than before - and we will be launched on some pretty good green energy initiatives.
No bailout for fools who cause a mess. Lets put it really in simple terms:
When a child makes a mess, should Mommy come running and "fix it" for him (or her)? Somewhere along the line, that child must learn the lesson of consequenses for themselves.
Well, we "fixed" everything up for the children under FDR. Now, its time for them to learn accountability.
vote against any congressman of any party who condones the greed of Wall Street. (oh and look at how much Obama and McCain have made lately)
This "crisis" is like the never ending War on Terror - an excuse for more mischief.
Bailout
OK kids: We've all had our fun rubbing spaghetti sauce all over each other and dumping milk on our heads. Now it's time for the cleanup. I really would love to see the markets left to work by themselves, because it fits my politics. But this ain't a lab exercise, folks. There are businessmen of good reputation who cannot - repeat cannot - get anyone to give them a dime's worth of credit. They just can't find any credit because there ain't any. That is the effect of this mess on Main Street. Nancy Pelosi deep-sixed the bill when she stuck her thumb in Republicans' eyes before the vote. No one - not even a pol as dumb as San Fran Nan - does something like that unless there is an underlying reason. The reason is that her constituency - like Comandante Grijalva down in Tucson - doesn't see enough slush in the bill for them to pass out to the core Democrat interests. This bill is the best we are gonna get, conservatives. I'm told it really isn't that bad, that there will be some positive side effects. I'm leery, but what is going on now is stupid. Personally, I'm afraid to look at my portfolio. I was planning maybe to retire next year at this time. What are the odds of that taking place now? Pass the bill as soon as the Jewish holidays are over, and let us get on with the rest of the campaign. I want to see Sarah-cuda and Slo Joe mix it up on TV.
Keep up the pressure
Friends, everywhere you can post it and every radio show you can call into and every phone call to your Congressman counts!
Keep up the pressure. Don't let them pass anything! In this case the cure will be certainly worse than the illness. Let the financial markets work themselves out along with the housing markets and let the economy reset itself. The government's hand is never light.
Today's vote will come back
Today's vote will come back to bite the nay-sayers!
Thank Goodness
Thank Goodness this bill was voted down.
America Dodged The Bullet.
Hey you Fools who are for this Bailout should take a look at the structure of money allocated and oversight. The proposal was the same as the first Paulson proposal only with more middle men and greater length and complexity of language.
A summary of the bill:
Treasury gets the money, writes the rules, decides who it wants to bailout, Allowed to set their own premiums, Allowed to pay full price originally paid for assets insured, Financial Stability Oversight Board are the same people who get to write the rules., congress has to Agree to deny more funding (just like congress gets their pay raises), and other fundamental flaws.
This is The Fox Guarding The Hen House In All Respects.
If this passes in any similar form, the debt will be so increased that we will not be able to pay the interest during the coming downturn and American Currency And Bonds Will Become Worthless.
Save America; Do Not Support The Bailout.
Thank Goodness For The Arizona Representation.
Glimmer of Hope
Well, the actions of our representatives today give me a glimmer of hope that the will of the common person may actually get represented on this one. But, I'm not going to hold my breath.
bailout
Bravo, AZ Representatives, Bravo! Why not have Bush take his directive from Sweden, where that country ran across the same type of scenario? Only they were smart about lending money, and the people won.
As an economist
One of the things about Veritas, he got a solid background in economics and has experience working in the field.
This vote by the entire Az delegation should be lauded by every taxpayer and voter in the state!!
Rewarding greed is never a good idea. But think about how much $700 billion new dollars right off the printing presses really is. Do you know what would happen to the dollar valuation and to inflation if 700 billion new dollar bills began circulating in the economy?? Do you know the relationship between the value of the dollar and the price of oil??
Should Congress be stupid enough to buy what Bush is selling (as well as the Democrats), you'll find out what a gallon of gas will cost this December.
Bravo to both sides of the Congressional delegation! Keep it up!
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