Dear President Obama: DON'T Vote For Bush's $700 billion Bill!

[obamashow]

Run time: 10:00 https://www.youtube.com/watch?v=4DTpFYw4Etc   Posted on YouTube: September 28, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 28, 2008 By DU Member: obamashow Views on DU: 1022

 
Dear President Obama:

Please DON'T vote for Bush's $700 billion ripoff bill!

The majority of Americans OPPOSE Bush's corporate welfare bill.

It's one thing to assist homeowners w/mortages, provide lines of credit to businesses to make payroll and pay leases, etc., but quite another to reward these Wall Street crooks with Bush's $700 billion bailout bill!

Don't do it! It has a built-in provision designed to "screw-up" the next President!

Don't give Bush $700 billion in unmarked bills!

[navarth]

1. I'm watching CSPAN and seeing a lot of blame being put on Democrats

This thing is POISON.

I hope the Dem leadership is smart enough to see that this is the last big hope for the Reptile party. They want Democrats to take the fall for this garbage.

[still_one]

3. Who is blaming the Democrats? That is total bullshit. Something must be done

or we all lose

The polls indicate that the people know who got us into this mess, and it wasn't the Democrats

[navarth]

4. the guy's name was Matt Kibbe, or Kibbi

a 'free market conservative' from freedomworks Dot org. He said he 'didn't want to be partisan' but he never laid a hand on any Republicans while I was listening. He DID mention the 'Democratic Leadership' and painted it like their fault, IMO.

This stuff is POISON. They're making Barney Frank the face of the bailout. I'm very concerned about this.

[obamashow]

7. Barney Frank has been holding press conferences in SUPPORT of Bush's bill!

Barney Frank has been holding press conferences in SUPPORT of Bush's bill!

Barney Frank is going along with a minority of Americans and George W. Bush!

Wall Street should NOT be given $700 billion!

[obamashow]

20. Open your eyes............

"BailOut Bill" - There is NOTHING in this bill mandating assistance to the homeowner with mortgage troubles; instead, they have used the term, "encourage" - instead of "shall" or "must." Very misleading, politically-charged legislation, designed to appease constituents without forcing lenders to do a damn thing for homeowners.

This is like a murder statute saying, "We encourage criminals not to commit murder and to develop plans not to murder folks."

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.

http://financialservices.house.gov/

Emergency Economic Stabilization Act of 2008
This section of the "Emergency Economic Stabilization Act of 2008 " exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, misleading, politically-motivated, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.

[FreakinDJ]

6. That is what I am seeing too

I may be mistaken - but I'll bet dollars to dognuts McSame absolutely Will Not Vote YES on the Bush Bail out

[obamashow]

8. McCain already said he was going to vote FOR Bush's bill!

McCain already said he was going to vote FOR Bush's bill during the debate.

Now McCain could flip-flop AGAIN..........r o n

[FreakinDJ]

9. Does McSame Flip Flop is like asking Do Bears piss in the woods

Leftys have recorded McSame Flip Flops so numerous they could fill up this entire forum.

So you point is ?

Don't you think McSame could harness 10 - 20% of undecided voters on opposing this issue alone. 50% of all Americans are violently against the Bail Out Plan. Of them 5 - 10% are undecided. That equals 2 - 5% of all voters.

Sure its a gamble - but what has McSame got left?

[obamashow]

18. This is for you..............

"BailOut Bill" - There is NOTHING in this bill mandating assistance to the homeowner with mortgage troubles; instead, they have used the term, "encourage" - instead of "shall" or "must." Very misleading, politically-charged legislation, designed to appease constituents without forcing lenders to do a damn thing for homeowners.

This is like a murder statute saying, "We encourage criminals not to commit murder and to develop plans not to murder folks."

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.

http://financialservices.house.gov/

Emergency Economic Stabilization Act of 2008
This section of the "Emergency Economic Stabilization Act of 2008 " exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, misleading, politically-motivated, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.

[still_one]

2. This is what the main points of the bailout are

1. Provide half the money now. Any additional funds MUST go through Congress
2. Congress will provide oversight
3. Interest rates will NOT readjust, and terms changed so people will not lose their homes because of higher interest rates
4. Warrants will be issued to the taxpayers for these companies
5. CEO golden parachutes will not be allowed by the bailout

To me it isn't a bad deal

Congress will vote for it

You may not realize that if something isn't done we WILL go into a depression

That would include a complete credit halt on everything. 25% unemployment, and small and large businesses would go under

Pensions, 401Ks, IRAs, and money markets would crash

No thank-you, I don't want that

This has nothing to do with bush, it has everything to do with avoiding a depression

[obamashow]

5. I disagree with Point No. 1 in your list..........

I disagree. NBC asked Sec. of Treasury Paulson how did he come up with this $700 billion figure, Paulson said he just named a big figure. I bet you don't believe that, but I have the video...I'll post it later.

Did you watch the video? (above) - You sound like you didn't, because if you did, you wouldn't have said, " Provide half the money now. Any additional funds MUST go through Congress."

Democratic Rep. Sherman exposed and complained about that (con job) aspect of Bush's bill.

You speak as if Congress will be able to refrain from giving Bush's the other $350 billion - they can't and they won't be able to stop it. This is a defacto $750 billion bill - de minimus!

The only way Congress can stop Bush from getting the other $350 billion is by passing a supermajority OVERIDDING Bush's veto, and that's NOT going to happen, that's for sure!

btw, you are with the minority of Americans who support this bill.

I'm for doing the things you named in your list EXCEPT for giving Wall Street $700 billion. Let them die!

This will be good for America in the long run.

Please review.

[still_one]

14. I actually mis-stated item 1. The money will be allocated as needed

not as one chunk, if I understood it correctly

Whatever the case, at least I think we agree something must be done

[obamashow]

17. Read This:

"BailOut Bill" - There is NOTHING in this bill mandating assistance to the homeowner with mortgage troubles; instead, they have used the term, "encourage" - instead of "shall" or "must." Very misleading, politically-charged legislation, designed to appease constituents without forcing lenders to do a damn thing for homeowners.

This is like a murder statute saying, "We encourage criminals not to commit murder and to develop plans not to murder folks."

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.

http://financialservices.house.gov/

Emergency Economic Stabilization Act of 2008
This section of the "Emergency Economic Stabilization Act of 2008 " exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, misleading, politically-motivated, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.

[obamashow]

10. The new bill WON'T ELIMINATE GOLDEN PARACHUTES!

Republican Sen. Judd Gregg just said the new bill WON'T ELIMINATE golden parachutes for these greedy fatcat Wall Street/corp executives....they will only knock off 20% of any golden parachute!

I'm telling you, this bill is BOGUS and not good for middle class Americans!

[wilt the stilt]

11. there is a valid reason for the bailout plan

and why it has to come from government. The capitalist system is based on liquidity and trust. If everyone becomes insolvent then all capitalism falters. The private market can't guarantee it because they can default. The government has to guarantee it because it will not become insolvent. That is why T-Bills are always as good as gold. If worse comes to worse a government can print money. It will not go insolvent. That is why the government has to bail out the banking system. The financial system is the core of capitalism

[obamashow]

15. Nothing in this section prohibits corporate executives from "golden parachutes

This section exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.

[RBInMaine]

12. If all of Obama's conditions are in the bill, it will pass and payback to mom and pop will happen

with no CEO windfalls. They are almost forced to do something here though or the bad part is that mom and pop will be hurting a heck of a lot more than they are right now. They need conditions: oversight, a payback, and cuts in CEO pay. I hope there is also a housing shore-up with this. But it's going to pass if it's the right agreement, and most Dems will support it.

[pberq]

13. Did you watch the video?

The Dem Representative says he's voting against it unless there are major changes. This is not the right bill, but it still seems that many Dems are supporting it.

[obamashow]

19. Examine this...................

"BailOut Bill" - There is NOTHING in this bill mandating assistance to the homeowner with mortgage troubles; instead, they have used the term, "encourage" - instead of "shall" or "must." Very misleading, politically-charged legislation, designed to appease constituents without forcing lenders to do a damn thing for homeowners.

This is like a murder statute saying, "We encourage criminals not to commit murder and to develop plans not to murder folks."

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.

http://financialservices.house.gov/

Emergency Economic Stabilization Act of 2008
This section of the "Emergency Economic Stabilization Act of 2008 " exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, misleading, politically-motivated, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.

[obamashow]

16. Here you go..........

"BailOut Bill" - There is NOTHING in this bill mandating assistance to the homeowner with mortgage troubles; instead, they have used the term, "encourage" - instead of "shall" or "must." Very misleading, politically-charged legislation, designed to appease constituents without forcing lenders to do a damn thing for homeowners.

This is like a murder statute saying, "We encourage criminals not to commit murder and to develop plans not to murder folks."

Section 109. Foreclosure Mitigation Efforts.

For mortgages and mortgage-backed securities acquired through TARP, the Secretary must implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans through Hope for Homeowners and other programs. Allows the Secretary to use loan guarantees and credit enhancement to avoid foreclosures. Requires the Secretary to coordinate with other federal entities that hold troubled assets in order to identify opportunities to modify loans, considering net present value to the taxpayer.

Section 110. Assistance to Homeowners.

Requires federal entities that hold mortgages and mortgage-backed securities, including the Federal Housing Finance Agency, the FDIC, and the Federal Reserve to develop plans to minimize foreclosures. Requires federal entities to work with servicers to encourage loan modifications, considering net present value to the taxpayer.

http://financialservices.house.gov/

Emergency Economic Stabilization Act of 2008
This section of the "Emergency Economic Stabilization Act of 2008 " exemplifies the misrepresentation and contradictory statements of this horrendous "BailOut Bill."

Nothing in this section prohibits corporate executives from "golden parachutes," despite the phrase "golden parachute" being used; this section specifically ALLOWS "golden parachutes" as evidenced by:

".........including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000. "

This is some of the most scandalous, misleading, politically-motivated, proposed legislation ever written. This section was designed and written to attempt to satisfy the People's call for an END to "golden parachutes," UNFORTUNATELY, it does NOTHING OF THE KIND!

All this section does re: golden parachutes" is to levy a 20% tax on "golden parachutes."

In other words, instead of an executive getting a $40 million "golden parachute, he or she will get a $32 millon "golden parachute instead." Lots of sacrifice, huh? Do you feel sorry for them getting only 80% of their "golden parachute???"

Times are tough....the Democrats are "cracking down" by limiting corporate executives' "golden parachutes" to 80% of their FULL "golden parachutes." ......get a rope............r o n

http://financialservices.house.gov/

Section 111. Executive Compensation and Corporate Governance.

Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.