ENOUGH -- UPDATED
by Maryscott OConnor, Sun Sep 21, 2008 at 05:18:19 AM EDT
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."
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.