Shelby, DeMint oppose Wall Street bailout

[babylonsister]

Finally, some bipartisanship.

http://thehill.com/leading-the-news/shelby-stands-out-as-bailout-critic-2008-09-22.html

Shelby stands out as bailout critic
By Klaus Marre
Posted: 09/22/08 04:07 PM

Sen. Richard Shelby (Ala.), the senior Republican on the Senate Banking, Housing and Urban Affairs Committee, is standing out during the current Wall Street crisis as a critic of top federal officials and their bailout plan.

“I don’t believe, at this point, up to this point, that the Fed and the Treasury have a comprehensive plan” regarding which companies to help out and which not to aid, Shelby said.

Reiterating criticism he had voiced over the weekend, the senator added that the Federal Reserve and the Treasury Department have “jumped from one crisis to the other.”

In an interview with CNBC, Shelby voiced concerns about whether the $700 billion price tag on an emergency bailout measure would be enough to address the crisis.

Asked whether the government should try to fix the crisis at any cost, Shelby stated: “If we say ‘whatever it takes,’ that means there’s a blank check of the treasury, future generations, to pay for the mistakes of a lot of people.

more...

http://thehill.com/leading-the-news/shelby-stands-out-as-bailout-critic-2008-09-22.html

****************************

DeMint opposes Wall Street bailout
By Alexander Bolton
Posted: 09/22/08 03:14 PM

Sen. Jim DeMint (R-S.C.) said he opposes the $700 billion bailout of Wall Street investment firms, a move that could threaten swift passage of the emergency legislation.

In a statement announcing his objections, DeMint did not say whether he planned to filibuster the proposal.

“After reviewing the administration's proposed bailout plan, I believe it is completely unacceptable,” DeMint, chairman of the Senate Republican Steering Committee, said in the statement. “This plan does nothing to address the misguided government policies that created this mess and it could make matters much worse by socializing an entire sector of the U.S. economy.”

“This plan fails to oversee or regulate the government failures that led to this crisis,” DeMint added.

more...

http://thehill.com/leading-the-news/demint-opposes-wall-street-bailout-2008-09-22.html

[Flying Dream Blues]

1. K&R nt

[Catch22Dem]

2. DeMint says it's unacceptable because it "fails to regulate"

I'm living in Wonderland.

[jschurchin]

3. babylonsister

Am I missing something here? Both of these gentlemen are Republicans. So where is the
bi-partisanship?

[babylonsister]

4. They are agreeing with the majority of Dems for a change. nt

[msongs]

5. dems need to refuse to vote for a bailout at this time, postponing it until after the election nt

[Hawkeye-X]

6. Reid needs to table the bill for discussion slated on Janurary 20, 2009

One minute after President Obama is inaugurated. Then we can discuss the bill at this point. The companies that needs a bailout from the US Government can go die in a fire. Repeatedly. Rinse and Repeat. Repeat and Rinse.

Hawkeye-X

[Eric J in MN]

9. Bingo. NT

NT

[jschurchin]

7. Being a life long Democrat

I have to disagree when I read stuff like this

http://www.msnbc.msn.com/id/26835745/

[Eric J in MN]

8. Republicans will run against the "Bush-Pelosi" bill to give away $700 billion.

They will benefit from the unpopularity of Bush if Democrats agree to give Bush the money.

Republican blogger Patrick Ruffini writes:

Republican incumbents in close races have the easiest vote of their lives coming up this week: No on the Bush-Pelosi Wall Street bailout.

God Himself couldn't have given rank-and-file Republicans a better opportunity to create political space between themselves and the Administration. That's why I want to see 40 Republican No votes in the Senate, and 150+ in the House. If a bailout is to pass, let it be with Democratic votes. Let this be the political establishment (Bush Republicans in the White House + Democrats in Congress) saddling the taxpayers with hundreds of billions in debt (more than the Iraq War, conjured up in a single weekend, and enabled by Pelosi, btw), while principled Republicans say "No" and go to the country with a stinging indictment of the majority in Congress....

http://digbysblog.blogspot.com/2008/09/opening-for-maverick-by-digby-ed.html

[jschurchin]

10. I agree Eric

and it troubles me deeply.