The fish wrap NYT has an account of the Bailout/Sellout bill approved on the second attempt in the House after a political stunt of approving it in the Senate earlier this week. Pelosi and Boehner were heard supporting the bill and in the report excerpt below several things are clear. President Bush strong armed a few dozen GOP members and Paulson calls it ‘a vote to protect America.’ So where were all these fine people while the storm was brewing or before? But the part that needs to be looked at is the ‘portfolio’ of tax provisions included in the agreed upon version that the President signed.
The Democrats get to cover their complicity in the Fannie Mae and Freddie Mac meltdowns and everyone is still cozy with the crowd on Wall Street. Another serious flaw in our federal government will ignored if the bailout and all that goes with it is covered over by Washington and their accomplices during execution of this so-called bailout plan. And what does it do to avoid such malfeasance in the future? The answer is probably nothing.
More posts on this coming soon.
Stanford Matthews
MoreWhat.com
A significant number of Republicans changed their votes from last Monday, when only 65 voted in favor. President Bush spoke to “about three dozen” House members this week to try to persuade them to switch from “no” to “yes,” the White House spokesman Tony Fratto said.
Another kind of persuasion surrounded the Senate deliberations of the bill. A portfolio of popular tax provisions was added before the Senate voted in favor of the program on Wednesday night by 74 to 25.
Treasury Secretary Henry M. Paulson Jr. said agency workers were already working on details to put the rescue plan into effect, so that no time will be lost now that the president had signed the legislation. Mr. Paulson called the House action “a vote to protect the American people — and their jobs.”
Mr. Paulson, who appeared with President Bush in the Rose Garden, was asked how he felt now that the rescue plan has cleared Congress.
“Better,” Mr. Paulson replied.
This entry was posted on Friday, October 3rd, 2008 at 10:13 pm and is filed under Public Affairs, Money Matters, Bush, wordpress, Politics, disclosure, ethics, oversight, Congress, Legislation.
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