Crossposted fromMY LEFT WING

The Bush Administration has presented Congress with a "hurriedly" created"LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS" and now expects it to be voted on and passed with all the expedience and passivity it received when it presented its last two disastrously precipitous cartes blanche: the Iraq War Resolution and the Patriot Act. Congress must refuse. This is another Patriot Act, another Iraq War Resolution moment. Hold FIRM, Democrats.

This is a classic Fork in the Road moment for Congressional Democrats and Republicans of conscience. It is time, long past time, actually, to stand up and say "ENOUGH" to Unchecked Powers demanded by this Executive Branch. ENOUGH, for the love of all that is sacred in this nation, all that is sacred in the Constitution of this nation.


No. We REFUSE to give another INCH of unchecked power to this so-called "unitary executive". It is beyond absurd, it is an insult to this nation and its Constitution. NO MORE -- ENOUGH.

Barack Obama must refuse, but he CANNOT be expected to stand alone. He MUST have the entire Democratic party behind him as he holds firm and repeats with finality and strength the one word that gave us all such a feeling of, yes, hope as we listened to him at his convention in Denver: "ENOUGH."


~ ~ ~ ~ ~ ~ ~ The Anonymous Democratic Congressperson's Email That Signals We Will Win This One
Paulsen and congressional Republicans, or the few that will actually vote for this (most will be unwilling to take responsibility for the consequences of their policies), have said that there can't be any "add ons," or addition provisions. Fuck that. I don't really want to trigger a world wide depression (that's not hyperbole, that's a distinct possibility), but I'm not voting for a blank check for $700 billion for those mother fuckers.

Nancy said she wanted to include the second "stimulus" package that the Bush Administration and congressional Republicans have blocked. I don't want to trade a $700 billion dollar giveaway to the most unsympathetic human beings on the planet for a few fucking bridges. I want reforms of the industry, and I want it to be as punitive as possible.

Henry Waxman has suggested corporate government reforms, including CEO compensation, as the price for this. Some members have publicly suggested allowing modification of mortgages in bankruptcy, and the House Judiciary Committee staff is also very interested in that. That's a real possibility.

We may strip out all the gives to industry in the predatory mortgage lending bill that the House passed last November, which hasn't budged in the Senate, and include that in the bill. There are other ideas on the table but they are going to be tough to work out before next week.

I also find myself drawn to provisions that would serve no useful purpose except to insult the industry, like requiring the CEOs, CFOs and the chair of the board of any entity that sells mortgage related securities to the Treasury Department to certify that they have completed an approved course in credit counseling. That is now required of consumers filing bankruptcy to make sure they feel properly humiliated for being head over heels in debt, although most lost control of their finances because of a serious illness in the family. That would just be petty and childish, and completely in character for me.

I'm open to other ideas, and I am looking for volunteers who want to hold the sons of bitches so I can beat the crap out of them.

Tags: ENOUGH, treasury proposal (all tags)




by Maryscott OConnor 2008-09-21 05:18AM | 0 recs
The Bush Administration has presented Congress with a hurriedly created "LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS"
There's nothing "hurried" about it. It's like when Bush presented the hurriedly created Patriot Act in 2001. You remember that? The one made up of hundreds of pages, so large most members of Congress didn't have a chance to read it, and Bush was telling them it had to be passed quickly.
by zenful6219 2008-09-21 05:24AM | 0 recs
Alternative to BUSH "plan"

Read this- an ALTERNATIVE to Bush's corporate welfare

http://www.sanders.senate.gov/news/recor d.cfm?id=303313

by architek 2008-09-21 05:30AM | 0 recs
Yes, I know.

I have a post about it -- on the rec list here.

by Maryscott OConnor 2008-09-21 09:28AM | 0 recs

The sad thing is that Obama will undoubtedly go along with this travesty, at least in its general outline.  He's got folks like Robert Rubin whispering the gospel of unregulated capitalism in his ear.

by ReillyDiefenbach 2008-09-21 06:53AM | 0 recs
"We need this to be clean and quick," Treasury Secretary Paulson said today in reference to the administration's bailout plan proposed to Congress.
It was almost like he was talking about killing something.....clean and quick. The question is exactly what is the Bush administration (and, by extension McCain) trying to kill?
by zenful6219 2008-09-21 07:21AM | 0 recs
Paulson does murder sleep!

by Dumbo 2008-09-21 03:21PM | 0 recs
Greenwald over at Salon.com...

...has this strategy of theirs pegged...read what he says about this crap:

Glenn Greenwald, Saturday Sept. 20, 2008 10:31 EDT:
The complete (though ever-changing) elite consensus over the financial collapse.

Worth reading the whole piece, but here's a sample:

David Herszenhorn, New York Times, today, "Congressional Leaders Stunned by Warnings":
It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silence at first.


First, the fact that Democrats are on board with this scheme means absolutely nothing. When it comes to things the Bush administration wants, Congressional Democrats don't say "no" to anything. They say "yes" to everything. That's what they're for.


So nothing could be less reassuring or more meaningless than the fact that the Democratic leadership has announced that what they heard scared them so much that they are certain all of this is necessary -- whatever "all this" might be (and does anyone think that they know what "this" even is?). It may be "necessary" or may not be, but the fact that Congressional Democrats are saying this is irrelevant, since they would not have done anything else -- they're incapable of doing anything else -- other than giving their stamp of approval when they're told to.

by bobswern 2008-09-21 08:08AM | 0 recs
Have you had enough

of our elected "officials" rolling over to lobbyist and corporate power?

Then please take some time now and contact your elected officials!

This site can help you do what MUST be done!

Look in the upper left corner for "My Elected Officials" and then input your zip code.

You can also contact your local media and the national media using this tool:
http://www.congress.org/congressorg/dbq/ media/

by kevin22262 2008-09-21 01:14PM | 0 recs


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