We need to start by voting independent for president and then vote our representatives out (at least the ones that have forgotten who put them there). Simpson needs to go first… Craig voted in support of the bill, but he’s already gone anyway (a proven fake). So let’s start with Simpson, promote the “American” message across the US via the internet – friends / family in other states – do not give up… make a difference. Start now.

If either presidential major would have stood against this, they would have won my undecided vote. As it is, I’m looking elsewhere if I vote at all. I honestly can’t say I feel represented, anymore.

Please read Senator Crapo’s letter to the people – he heard our calls and responded accordingly.

This little exercise by our representatives, that has put this great nation on the brink of entering the world of socialism, must hold consequences for them that ignored “we the people.” They have chosen not to listen to us (as remarked by the representative from California) “my constituents will just have to understand.” Well, we don’t.

Join me in voting these people out of office… republican/democrat – doesn’t matter, we are Americans first and foremost… Vote the liars and the ones on the take out.

The tax payer gets screwed again… I’m sure this bill with all it “pork” will make some CEO breath a little easier tonight…

He said the American economy is like a super athlete who just had a heart attack. If the athlete doesn’t get immediate help, he may not die, but the recovery will take a lot longer, as the athlete will just get sicker. Buffet predicted a 2-3 year recession if the bill is passed, and a 5-8 year recession if not.

Buffet said it cost him $700 million to get his companies shed of the credit swaps and sub-primes that caused this mess. He dumped all those from 1998-2003, and none of his companies got hit by this mess.

The Senate passed the same 700 billion bailout package last night the House rejected…..and they loaded on a variety of spending items and tax breaks to curry favor on both sides to ensure passage.

This is still a terrible bill, and in fact a WORSE bill that the first. I am all in favor of tax breaks……but they MUST BE PAID FOR. This bill does not do that. Over 25% of the tax breaks are not paid for by these politicians. They have no clue how to balance a budget and live within their means. They are running the United States in the ground so they can get elected again……it won’t mean much when the economy goes in the tank because these buffoons can’t balance a check book and say no to spending.

Has anyone considered how much inflation will rise when they inject 700 billion in new money into the economy? This isn’t real money….it is electronic money, and it stifles our purchasing power. Ever wonder why your dollar doesn’t buy as much as it did before, and why prices shot through the roof…..that is inflation folks. Essentially, it is a hidden tax increase you don’t really see……but we all know it is there. I used to buy Basmati Rice at Sam’s Club for $9.00 a year ago…..it is now $18.00 a bag. That is inflation at work. This bill actually promotes this.

Don’t give up. Send Simpson e-mails and phone calls like crazy. We have all got to do our part to derail this bill from passage. Sen. Mike Crapo did the right thing and voted NO. Sen. Craig voted YES. As this bill moves to the House, we need to kill it before it kills us!!!

http://www.youtube.com/watch?v=hN31-nKndg8

_______

Years of bad decisions and stupid mistakes have created an economic nightmare in this country,
but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support
any congressperson who votes to implement such a policy. Instead, I submit the following threestep
Common Sense Plan.
I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance.
Government-insured and backed loans would have an instant market all over the
world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two
things:
1. Rewrite any mortgage that is more than three months delinquent to a
6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the
balance. This brings homeowners current and allows them a
chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or
the sale of the property to pay off the bad loan. In the event of
foreclosure or short sale, the borrower will not be held liable
for any deficit balance. FHA does this now, and that
encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and
ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and
executive team members as long as the company holds these
government-insured bonds/mortgages. This keeps underperforming
executives from being paid when they don’t do their jobs.
c. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subprime Tier III
bonds/mortgages. This keeps companies from being forced to artificially mark down
bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on
failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. Investors will flood the real estate and stock
market in search of tax-free profits, creating tremendous—and immediate—liquidity in
the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lightning rod politically because many will say it is helping
the rich. The truth is the rich will benefit, but it will be their money that stimulates the
economy. This will enable all Americans to have more stable jobs and retirement
investments that go up instead of down.
This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.

Support HR 2755 earlier in this session. The bill was referred to the U.S. House Financial Services Subcommittee on Domestic and International Monetary Policy, Trade and Technology of which Ron Paul is the ranking minority member.

While it is unlikely that this bill as a stand-alone piece of legislation will make it out of committee, it is possible that similar language be written into the “solution” that the committee is now re-working.

PLEASE MAKE CALLS TO THE OFFICE OF THESE FINANCIAL SERVICES SUBCOMMITTEE MEMBERS and encourage them to incorporate language from HR 2755 into any solution that they craft to address the current financial crisis. You should ask to speak to the “financial services” staffer. In addition also contact Barney Frank (Mass.), the Financial Services Committee Chairman and Spencer Bachus ranking minority member (Alabama)

HR 2755 is Dr. Ron Paul’s bill to abolish the Board of Governors of the Federal Reserve System and the Federal Reserve banks and to repeal the Federal Reserve Act. You can read it online .

Enough is Enough!
Mind our own business.
Help our own working class.
Put Ethics in Action NOW!

The big boys play with our hard earned monies. For every failed institution, all of the associated Vice Presidents, Presidents, CXX’s, Board of Directors -> freeze all of their assets, take their homes, cars, savings, everything and put it towards their failed programs! It is time to hold the greedy accountable. The Sarbanes-Oxley Act is a joke, it did not stop the theft from the top and that is where it all occurs.

The mantra should not be ‘CHANGE’ it should be ‘Ethics NOW’. Is this too much to ask?

Registered Republican
CL

I would like to see Congressman Simpson redeem himself and sponsor some alternatives immediately that restore some semblance of confidence in investors. It seems to me that too many of our folks in Congress are presented with only one alternative and don’t focus in on other fixes that can and will have positive effects on the economy without breaking the bank and rewarding poor behavior.

The Federal Reserve is taking steps to pump more money into the economy and expand lending limits and timelines to banks in effort to free up the credit markets. Congress is set to adjourn until after the election. If they leave town without enacting reforms and changing accounting rules in Mark to Market and looking at guaranteeing more loans through FHA (at a substantially lower price tag of $40 billion) they are crazy and should be voted out of office.

Has anyone heard about any serious efforts to get other alternative bills to the House floor?

It astounds me that no one looks at alternatives that could make a large difference and improve the situation.

This thing still needs some work to pass my grin test… Be sure to read who the members of the oversight board will be…

The plan indicates they will review the existing regulations (the ones that got us into this mess) by April 2009 – and make recommendations to modify. I have to question our representatives on this… shouldn’t you fix the dam before you start refilling it?

Would love to read any feedback after you have reviewed the plan… but don’t wait – send a note to our representatives. If you don’t, then don’t complain if you aren’t happy with the outcome. People it’s time to get involved.

A major problem here is that we currently don’t know the details of what’s happening and I saw some people commenting on this topic in the chatbox that thought “bailout” meant that this was mainly focused on people with mortgages they couldn’t pay and that the proposal was about “bailing them out” of having to pay their mortgage! This demonstrates a silly and naive ideological knee-jerk response, but it does also illustrate that there is a lot of confusion out there as to what this issue is really about.

For all those who believe there should be no referree on the playing field (no government regulation/enforcement), I hope you’ve learned your lesson. Whether it’s these huge financial corporations or individuals, if you give them enough rope, they will hang themselves. If you don’t give them enough rope, they can’t get anything done.

http://www.house.gov/simpson/emailme.shtml
Contact Mike

Due to the threat of anthrax and other biological weapons, mail continues to be eradiated at US Post Offices in Washington, D.C. Mail delivery can be delayed up to four to six weeks to my Washington, D.C. office. If you have an urgent request, please mail your correspondence to one of my four district offices.

Idaho residents may use the following form to contact me via email.

Washington, DC, Office
1339 Longworth
Washington, D.C. 20515
Phone: 202-225-5531
Fax: 202-225-8216

Boise Office
802 West Bannock, Suite 600
Boise, ID 83702
Phone: 208-334-1953
Fax: 208-334-9533

Idaho Falls Office
490 Memorial Drive, Suite 103
Idaho Falls, ID 83402
Phone: 208-523-6701
Fax: 208-523-2384

Twin Falls Office
1341 Fillmore St. #202
Twin Falls, ID 83301
Phone: 208-734-7219
Fax: 208-734-7244

Pocatello Office
275 S. 5th Ave. #275
Pocatello, ID 83201
Phone: 208-233-2222
Fax: 208-233-2095

Mike Crapo:
http://crapo.senate.gov/contact/contact.cfm

Larry Craig

I am frustrated to see that people are willing to sit back and watch the politicians give OUR MONEY to institutions, who were guided by less than ethical people (less than ethical is being polite – they are criminals), so they can continue digging. How many times have you heard this week, “we need to firm up these institutions, so they can start loaning money again.” Isn’t that how we got in the hole we are in? If any one of us did what these companies did, we would be in jail, and certainly allowed to go bankrupt.

What this country needs is:
1) Industry – jobs of all colors (blue and white collar ) – This country was founded by people who worked hard and they worked hard in all sectors.
2) A tax system that supports small business and large corporations. Caviated by, a tax system designed to help those corporations that are investing in America by putting Americans to work. Penalties for those companies that are outsourcing every aspect of their operation, except the money counters.
3) A check on the well funded extremist that have brought industry to a halt by filing frivalous law suits that will not allow for the advancement of nuclear and other “clean” energy technologies.
4) Institute a new framework for loaning money (the former framework that loaned only the amount of money they could afford to pay back).

This isn’t an all inclusive list, but do these things and America begins to heal. Lets not do a “quick fix”, lets do the right fix. Put America back to work making tangible things – not making the next deal on paper that transfers more of our money over seas.

Take a look at Las Vegas to see how bad it can get. Entire neighborhoods have been repo’d and/or abandonded. Thieves are everywhere in these neighborhoods, ripping off whatever they can, and the banks are doing nothing to protect the houses. If they are going to be bailed out, it needs to be done on actual value, not the over-fat mortgages that they sold.

Dropping capital gains tax is a good way to encourage higher wages, as is some sort of penalty structure for companies who move all their production overseas- the US deeply needs to re-bulid it’s industrial base, and there needs to be some consequences to closing American factories.

Another good way to keep homeowners in homes is to drop the inheritance tax. A sudden death of a homeowner combined with this stupid tax forces too many people to have to sell homes that would rather be kept by the family. Same goes for farms and small businesses, especially partnerships.

At the same time, it’s obvious that America is weaning itself off imported oil that goes to transportation, but we really need alternatives to oil-fueled power generation. I’m all for nuclear power plants built on the newer designs used in Japan and France (and other European countries as well). These plants are smaller, cheaper to build, produce less waste, and are safer than any here, and could free up millions of gallons of oil.

We also need to overhaul our rail system and lose our reliance on all our goods being transported over the highways by truck. Moving goods by rail is not only cheaper, but it is much more secure and less prone to terrorism if modern developments are employed widely.

Just moving into these areas seriously would improve the job picture a lot. We have far too many well trained people out of work who could be put to work on these developments and construction.

As a Democrat, I’ve always thought Mike Simpson was the best of our delegation; he’s put in some hard work for Idaho. For most of this year, I still supported him as I’ve done in the past.
But more and more, he’s become part of the cave-in-to Bush herd over the summer, and like you, I’m looking more at Debbie Holmes.

She’s not charismatic, but she’s very plain spoken and level-headed. She doesn’t try to hedge any of her answers to questions, and she’s very moderate and sensible in her thoughts. For sure, she doesn’t go along with the bail-out is it’s being put together, either. More importantly, she isn’t going to be a part of anything that doesn’t put Idaho first in her vote.

We really need a delegation that can work together. Simpson and Sali hate each other, and have nothing to do with each other. I’m sure Holmes won’t ever be a Sali fan, but she will be willing and able to work with Sali.