[Homestead] Reading the bailout bill
Lynn Wigglesworth
lynnw1366 at hotmail.com
Thu Oct 2 07:33:02 EDT 2008
There's plenty of blame to go around. Do you really see a difference
between the two parties? Listening to any of them, I can't tell if they
are a tax and spend Democrat or a borrow and spend Republican. So few
have the guts to do what their constituents want. As I wrote to all my
Congress-drones, "Come election time, we will remember how you voted on
this". Vote for Ron Paul.
Lynn Wigglesworth
Akka Homestead wrote:
> I started reading it, too. I got to page 88 or so. Reading it online is a pain in the butt when you connect at 26.4kbps. I had the same thought as you Lynda...that it was awfully researched for something supposedly thrown together. I just got the gut feeling that this might have been a BP(Bush Paulson) exercise written a few years ago at a Bohemian Grove meeting or something....lol
> After Don's comments, I doubt I will even try to read the Senate version. I don't have the time nor the inclination. I trust you completely on this one, Don. The whole thing is now under my skin.
> Y'all blame what you will on Bush and the GOP-they do deserve their share of the blame, but this bill passing shit falls squarely on Democratic shoulders as far as I am concerned. If they were truly anti-Bush, if they were truly for the little guy, if they honestly had their constituents at heart instead of their rich friends, if they truly the party of CHANGE, then we would not have a signed bailout tonight.
>
> Akka
>
> Lynda wrote:
>> I read the 110 pages put out by the House the other day. Having worked for
>> attorneys at one time, I can tell you, these guys didn't come up with all
>> this in a couple of days or even a week. Something is VERY fishy here.
>>
>> The Senate grew nothing except perhaps some horns cause they are 3/4s
>> prepared to gore the American public!
>>
>> Lynda
>> ----- Original Message -----
>> From: "Don Bowen"
>>
>>
>>> I refuse to call it a rescue, it is a bailout. I have tried to read it but
>>> it is filled with obscure references that will take days of searching to
>>> reconcile. For example there is this:
>>>
>>> "(a) IN GENERAL.-Paragraph (2) of section 4161(b) is amended by
>>> redesignating subparagraph (B) as sub301 paragraph (C) and by inserting
>>> after subparagraph (A) the following new subparagraph:"
>>>
>>> What could this be in reference to? Is it some limit to CEO pay? Is it
>>> some limit to the power of the Secretary of the treasury? The to those
>>> questions is a resounding NO! It is in reference to the tax code. Is it
>>> something to do with taxing the ones who profited? Is it a reference to
>>> helping out homeowners who are taxed on the amount banks reduce the loan?
>>> Again no! It is:
>>>
>>> ''(B) EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.-Subparagraph (A) shall
>>> not
>>> apply to any shaft consisting of all natural wood with no laminations or
>>> artificial means of enhancing the spine of such shaft (whether sold
>>> separately or incorporated as part of a finished or unfinished product) of
>>> a
>>> type used in the manufacture of any arrow which after its assembly-"
>>>
>>> Now we all know why the bailout has to be passed so quickly.
>>>
>>> http://calculatedrisk.blogspot.com/2008/10/senate-speeches-on-bailout-bill.h
>>> tml
>>>
>>> In reality the bailout was attached to an obscure bill and some previously
>>> house passed tax bills were added. This to get around the fact that the
>>> Senate cannot vote on an appropriations bill until it has passed the
>>> house.
>>>
>>> If you want to dig through it here it is.
>>>
>>> http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf
>>>
>>> Good luck. And remember that while you are struggling though this 451
>>> page
>>> monstrosity that it is being voted on tonight by people who have not read
>>> it
>>> either. I was against the original bill for may reason but felt that
>>> something needed to be done. As the week progressed I was still for it
>>> under the need to do something now and fix it later. This after noon some
>>> reading has me even more against the bill and now I feel we still need to
>>> do
>>> something but this is not it. Maybe the Senate will grow a pair.
>
>
>
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