Senate GOP SCUM vote to PROTECT Wall Street 3 Times so far

[eastbaygordo]

The GOP is showing it's true colors and the Democrats are going to make them vote for Wall Street to prove they don't care about the middle class and like to bailout their Wall Street buddies who stole our money.

Senate Majority Leader Harry (D-Nev.) on Wednesday upped the pressure on Republicans who are blocking debate on Wall Street reform from going forward. Shortly before the third vote this week to break a filibuster, Reid charged that it was "anti-American" to attempt to alter the bill through closed-door negotiations rather than hashing it out on the Senate floor.

"All the talk by Republicans about wanting to do something about this bill before it gets on the floor is really anti-Senate, anti-American," Reid said. "It appears they're more concerned about taking care of the fat cats on Wall Street."

The GOP beat back the attempt to break the filibuster 56-42, with Sen. Ben Nelson (D-Neb.) voting with the Republicans for the third straight time. Dick Durbin (Ill.), the no. 2 Democrat in the Senate, told reporters to prepare for a long evening Wednesday as Democrats prepare to force repeated votes into the night.

"Americans are counting on us to get results, so we are going to do our jobs and keep the Senate open all night - we will vote again and again, until Republicans stop protecting Wall Street and join us in moving forward to an open, public debate about how to hold Wall Street accountable," said Reid spokesman Jim Manley.

"We're rolling out the cots," a senior Democratic leadership aide added, noting that the sergeant at arms will be instructed to require the presence of senators on the floor for "live quorum calls." Democrats will also continuously ask for unanimous consent to move to debate on the Wall Street bill, forcing the GOP to object at all hours of the night.

eastbaygordo Reviewed by eastbaygordo on 04-28-2010. Senate GOP SCUM vote to PROTECT Wall Street 3 Times so far The GOP is showing it's true colors and the Democrats are going to make them vote for Wall Street to prove they don't care about the middle class and like to bailout their Wall Street buddies who stole our money. Senate Majority Leader Harry (D-Nev.) on Wednesday upped the pressure on Republicans who are blocking debate on Wall Street reform from going forward. Shortly before the third vote this week to break a filibuster, Reid charged that it was "anti-American" to attempt to alter the bill Rating: 5

[boaz]

I have a whole new respect for Senator Levin after yesterday's grilling about the "shitty deals" Goldman was pushing. :jointsmile: I'm sure its all a show, nothing will really happen, we all know who owns the congress, but still pretty good entertainment. imp:

[Islandborn]

So now we need the Feds to be a consumer reviewer? The same Fed that REFUSED to regulate sub-prime mortgages, credit card abuses, reckless commercial real-estate speculation and just about every kind of arcane, non-transparent and speculative banking activity, that has wreaked havoc on the American economy over the last 10 years?

[RedLocks]

So now we need the Feds to be a consumer reviewer? The same Fed that REFUSED to regulate sub-prime mortgages, credit card abuses, reckless commercial real-estate speculation and just about every kind of arcane, non-transparent and speculative banking activity, that has wreaked havoc on the American economy over the last 10 years?

Should replies to this post be directed at you or Nomi Prins @ AlterNet.org?

[RedLocks]

I have a whole new respect for Senator Levin after yesterday's grilling about the "shitty deals" Goldman was pushing. :jointsmile: I'm sure its all a show, nothing will really happen, we all know who owns the congress, but still pretty good entertainment. imp:

All Hail the Corporate Overlords! I got a kick out of the CEO stuttering as he was being berated by politicians questioning him, caught a few seconds of that flipping through the channels yesterday

[ElGordoSupremo]

So now we need the Feds to be a consumer reviewer? The same Fed that REFUSED to regulate sub-prime mortgages, credit card abuses, reckless commercial real-estate speculation and just about every kind of arcane, non-transparent and speculative banking activity, that has wreaked havoc on the American economy over the last 10 years?

So let me get this straight, your argueing that a lack of regulations caused the economic meltdown THEREFORE we DONT need more regulation?

Or do you contend that those good Republicans have been trying to regulate the banking industry for years but the evil Democrats have been blocking any attempt to requlate them?

[RedLocks]

So let me get this straight, your argueing that a lack of regulations caused the economic meltdown THEREFORE we DONT need more regulation?

Or do you contend that those good Republicans have been trying to regulate the banking industry for years but the evil Democrats have been blocking any attempt to requlate them?

If you really want to know the thinking behind the argument presented I suggest you either ask the original writer or read the article in it's entirety..:thumbsup:

[ElGordoSupremo]

I thought i did ask him, thats why i used the whole quotes thingy. I was confused about the apparent contradiction in Islandborn's post.

And i did read the article, eastbaygordos post was excellent. If there was a link i missed it.

If ive violated some forum ettiquete I apologize never meant to cause hard feelings im new to all this

[RedLocks]

I thought i did ask him, thats why i used the whole quotes thingy. I was confused about the apparent contradiction in Islandborn's post.

And i did read the article, eastbaygordos post was excellent. If there was a link i missed it.

If ive violated some forum ettiquete I apologize never meant to cause hard feelings im new to all this

heh, you misunderstand no biggie. The post you quoted was actually 100% plagiarized from this article Why Every Aspect of Dems' Handling of Wall St. Overhaul Seems Headed for Disaster | News & Politics | AlterNet
I wasn't getting on you or anything bro, continue

[Rusty Trichome]

Actually, it's the SCUMBAG liberals pushing their socialists agenda...again. Sure love the adjectives the dems are using to describe reasonable educated people with a fairly comprehensive understanding of the decipet vomited as fact by the left. But not all of us are sheep following in the Mao tradition.

Obama Now Pushing Sneaky Wall Street Bailout - HUMAN EVENTS

Talk about taking another giant leap in the wrong direction.

Fresh off his successful (for now) effort to ram through an unpopular healthcare â??reformâ?� law, President Barack Obama is now fighting for legislation on Capitol Hill that would set up a permanent fund to bail out companies in the financial sector.

Of course, thatâ??s not how his team is spinning things. On the White House Blog, Jen Psaki claims that â??under the Senate bill, the taxpayers will never be asked to foot the bill for Wall Streetâ??s irresponsibility.â?� But thatâ??s simply not true.
â??If you liked the bailouts in 2008, youâ??ll love the Dodd bill,â?� Sen. David Vitter (R.-La.) tells HUMAN EVENTS. â??Congressional Democrats and the Obama Administration want to create a permanent bailout mechanism all while spouting their rhetoric of getting tough on Wall Street, but if you look at who is already lining up to support their â??reformâ?? measure itâ??s a whoâ??s who of the big banks that have already received the taxpayer bailout the first time.â?�

There are two specific problems with the Senate approach to â??reform.â?�

First, this legislation would create a new $50-billion bailout slush fund controlled by the Federal Deposit Insurance Corporation (FDIC). Very big banks and other â??eligible financial companiesâ?� would be taxed by the FDIC to build up this fund. As with any tax, though, itâ??s consumers--you and meâ??who would eventually pay this levy.

The Obama Administration this weekend requested that the $50 billion pre-funded bailout money be removed from the bill. But according to Foxnews.com, Treasury Secretary Tim Geithner advocated last year that any bailout funding should be addressed post bailout through a tax on big Wall Street firms. If Senate Democrats only take out the $50 billion slush fund and leave the bailout authority intact, then the taxpayers will still be on the hook for any future bailouts.

Another problem with this bill is that it would bail out the creditors of companies and wouldnâ??t require any creditor to take a loss after a company starts to fail. If the bailout slush fund is tapped, the FDIC would have the power to reimburse creditors. That could allow the FDIC to pay creditors more than they invested (pursuant to Section 210 of the Dodd bill).

So, besides the TARP bailout funds we alll are going to pay for till we die, which will come soon because we won't be able to afford to survive a cold on Osbamacare, we are going to tax the banks to fill a 50 billion dollar slush fund for failing banks. Then, that fund (which are now tax dollars owned by the people of the United States) will be used to bail-out mismanaged banks and lending houses? How about we let them fail and we'll use the money for defense or border security? Anyone care to bet that the "Bank of Mismanaged Unions" will get the first $50 billion.

The moderates and those on the right just saved your ass. Again.