so the bailout bill is now 451 pages long

[Jerome Scuggs]

http://www.salon.com/tech/htww/2008/...nza/index.html

* Sec. 105. Energy credit for geothermal heat pump systems.
* Sec. 111. Expansion and modification of advanced coal project investment credit.
* Sec. 113. Temporary increase in coal excise tax; funding of Black Lung Disability Trust Fund.
* Sec. 115. Tax credit for carbon dioxide sequestration.
* Sec. 205. Credit for new qualified plug-in electric drive motor vehicles.
* Sec. 405. Increase and extension of Oil Spill Liability Trust Fund tax.
* Sec. 309. Extension of economic development credit for American Samoa.
* Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
* Sec. 501. $8,500 income threshold used to calculate refundable portion of child tax credit.
* Sec. 503 Exemption from excise tax for certain wooden arrows designed for use by children.

VITAL TO ECONOMIC STABILITY

~~~~~~~~

[Money]

deez nutzz

[Fluffz]

I guess someone could argue wooden arrows for children have more impact on economy than moose meat in central europe. Because our Parlament just discussed whether or not a tax cut on food should excluded quail egg and moose meat. It was a resultless 19 hour marathon with the 170 highest paid politicans avaliable.

eh, i just noticed its about elk cheese and not moose meat. wow.

[Zeebu]

Sec. 322. Tax incentives for investment in the District of Columbia.

Sec. 401. Permanent authority for undercover operations.
Sec. 402. Permanent authority for disclosure of information relating to terrorist
activities.

[Stompa]

Jerome use your knowledge to tell me if the new bailout package will likely pass in the House considering the wide margin with which it passed in the Senate.

[Jerome Scuggs]

Jerome use your knowledge to tell me if the new bailout package will likely pass in the House considering the wide margin with which it passed in the Senate.

now that every politician in congress can walk away from the bailout bill with a few million for their own special interests... i bet half of them aren't even voting on a "bailout", and at least one will be voting for "cheaper wooden arrows"

and plus the "well, at least we tried!" excuse seems to be a completely valid explanation for a political fuck-up

i'd say that it will probably pass the house. once something gets this big and they make sure to drench the media with scary info... there's no way it's going to be defeated.

[Zeebu]

you know, my mommy and daddy used to tell me, "if you dont have the money, you cant buy it."

wish everyone would have followed that

[Vehicle]

It's going to pass in the house, and the leaders there said they won't even bring it to a vote until they're certain of it's passing. (Probably a smart decision considering the market hiccup when the rejected the original bailout.)

It's an embarrassment to us as a nation that claims to be the leading democracy when it takes this many earmarks (or any pork for that matter) to get legislation on such a serious matter passed.

And this time you can't blame Ted Stevens, he's too busy being on trial for home rennovations.

[Jerome Scuggs]

what libertarians have to say:

The bailout bill means total financial dictatorship. This bill gives the death penalty to capital markets. The execution will, if this passes, begin immediately and be stretched out over succeeding years.

It includes such nooses as:

1. The Secretary of the Treasury (Finance Czar) gets complete power to buy up any mortgage-related assets he decides on. No questions asked.

2. The Finance Czar (Secretary) and the Fed Chairman get power to buy ANY FINANCIAL ASSET (wow!). They need only inform Congress in writing what they are up to.

3. The Czar can buy troubled assets of ANY financial institution he decides on.

The power grab here is not one but several quantum leaps beyond even the New Deal. It is at a minimum in that Big League.

The discrimination inherent in this bill is totally inconsistent with any kind of even-handed rule of law.

The precedent set here, if this bill passes, is extremely damaging. In the future, Congress will be far more likely to grant such powers to financial czars who will then have direct control over all the capital markets, money markets, and loan markets, and over all financial intermediaries.

It is the original Paulson plan raised to the tenth power.

on short selling:

The geniuses at the SEC forgot, if they ever knew, that short-sellers sometimes cushion declines. They buy back at lower prices. They forgot, if they ever knew, that short-sellers dampen volatility and add liquidity to a market. They forgot, if they ever knew, that markets like convertible bonds depend on short selling. They forgot, if they ever knew, that there are two sides to a market.

on the naming conventions:

Once again, in true Orwellian fashion, a bill is introduced with a name that feels good but does the exact opposite. The bailout proposal is called the "Emergency Economic Stabilization Act of 2008". But it won't stabilize anything. The PATRIOT act was un-patriotic. The Social Security was anti-social (and socialist) and anti-security (except for the politically connected). The same goes for the Farm Security Bill, Homeland Security Act and hundreds more.

[Zerzera]

on the naming conventions:

Yeah, just like all the African Freedom parties :P

[TagMor]

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

mhmm...

[DoTheFandango]

Sec. 317. Seven-year cost recovery period for motorsports racing track facility.

WHAHTHAHTHWTHHT
i hate earmarks for this reason.

[Zerzera]

In a nutshell this is all because Bush decided to give money to a few million guys that thought they were going to be the next 50 cent and watched a little too much mtv cribs.

[Money]

in a nutshell, europeans explaining US policy

[raizin]

Vote no.

I really hope the house rejects this again.


This is why i cant stand some of these people

Rep. Jim McDermott


7th District (Seattle)
"I thought long and hard about it ... ." (The negotiators) "got the very best deal they thought they could get. I can tell you 27 reasons why it was not a good package ... but I think we needed to get started."



Really??? 27 reasons why you should vote no, but yet you voted yes???