This is insufferable. Suddenly everyone’s a goddamn business expert.

Where was this expertise during the TARP vote?

Where was this expertise during the TARP vote?

not news to you i know. but i just watched most of today’s house financial services hearing on TARP “oversight” with kashkari…..

there is NO expertise.

Republicans from the state of Hooverville unanimously vote:

“Fuck the poor!”

(apologies to Mel Brooks)

epu’ed….here are some process details:

house rules committee had an emergency meeting today at 12:45 pm.
rule H.RES. 1534 was reported out.

H.R. 7321 – Auto Industry Financing and Restructuring Act (has not been posted yet on thomas, expected link will be: HR 7321)

1. Structured rule.

2. Provides one hour of debate equally divided and controlled by the chairman and ranking minority member of the Committee on Financial Services.

3. Waives all points of order against the bill and against its consideration.

4. Provides that the bill shall be considered as read.

5. Provides that the amendment printed in the Rules Committee report shall be in order if offered by Rep. LaTourette or his designee.

6. Provides that the amendment made in order shall be considered as read, shall be separately debatable for 10 minutes equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for a division of the question.

7. Waives all points of order against the amendment printed in the report.

8. Provides one motion to recommit with or without instructions.

9. Provides that, notwithstanding the operation of the previous question, the Chair may postpone further consideration of the bill to a time designated by the Speaker.

SUMMARY OF AMENDMENT TO BE MADE IN ORDER
(summary derived from information provided by sponsor)

1. LaTourette(OH)/Greene(TX): The amendment requires that any lending assistance provided under TARP or EISA to an insured depository institution shall report the amount of any increase or decrease in new lending attributed to the TARP or EISA assistance. If the institution cannot provide an accurate report, the institution shall report the total amount of increase or decrease in overall new lending in its quarterly reports.

from today’s floor summary:

at 5:29pm, the vote on H RES 1534 was delayed and then at 6:12pm, passed 225 to 179.

debate on H.R. 7321 began at 6:17pm.

NPR had a senator on who will not vote for a bailout, specifically because of unions. We, the progressives, need someone on the radio and MSM who will defend the unions, not as way to defend their existence, but rather what has happened to all those workers who are NOT UNION, and what they have lost by not being union (low wages, no benefits, etc., and usually with the upper supervisors getting all the gravy). If the public doesn’t know, they will only see more of their tax dollars being thrown away to support the fat cats, rather than it being to their benefit.

kucinich up. supports the latourette amendment.

latourette finishing up (i think) the debate on his amendment. explaining it as an oversight vote. asks if there will be a recorded vote. barney frank say yes.

frank up: some people unfairly said that the original bill we passed did not have good oversight. we included great oversight.

me: i don’t think oversight means what barney frank thinks it means.

wtf? Why did Barney ask for a recorded vote?

Just making sure he has names on-the-record?

frank: great amendment strategy because this amendment will not pass unless the auto bailout bill passes. therefore if you are one of the people who thinks this amendment is needed you have to vote for the auto bailout.

[no one is calling it a bailout, but i can’t bring myself to use the term “bridge” loan]

vote on amendment now in progress

Speaking of NPR…

And the Senator they had on…

but i just watched most of today’s house financial services hearing on TARP “oversight” with kashkari…

CSPAN just replayed Maxine Waters’ questioning of him.

(just wondering how Kashkari is gonna learn to walk again, after Maxine chewed most of his ass off)

These F*ckers have no shame … they’ll high five each others over Martinis & Cohibas and plot
their next crime spree.

the bit with manzullo that is being repeated now is pretty good too.

… for kabuki.

Ford doesn’t need the money, neither does Chyrsler till next yr. Because Wagnor can’t wait till Jan 20th here we sit waiting for a bill to pass that gives the out going congress and outgoing screw up bush control over all 3 of the auto co’s and power to disolve or weaken the UAW. I have the worst feeling abt this.

And this is personal for my family.

yep – Kashkari’s gotta be ass-less tonight….

definition for Kashkari:

Ignoranus (n): A person who’s both stupid and an asshole.

Is the 110th done yet?

i’d be shocked if what we saw today was anything other than for show. i saw no sign of any serious intention to do much of anything other than posture for the voters back home.

fyi – here’s the house website for roll call votes.

Man, talk about kabuki. I love how the vote is taken. Guy says those in favour of recorded vote rise and doesn’t even look up from whatever he’s reading from.

OT – cute overload for new tiger Feurae. Igraine as a bonus.

Screwed that up royally.

nice c++ book :D

thank you for the pics, can’t have too much cute. (does feurae read your c++ book? smart cat *g*).

btw, the igraine link i takes me to a feurae pic.

Passed unless there are changed votes

Feurae. Another. One more. Igraine.

according to ian’s earlier post, the house is not the worry.

current vote is 229 to 159 in favor. voting continues.

Seems the callers on CSpan are for the bailout. The most recent caller says with all the money we spent in Iraq we should help our auto co’s.

The people who made up these insane financial “instruments” and flogged them around the world to make oodles of money don’t know how to run a financial system with is not based on total BS credit and risk dealing and deceit and sold to people who are looking to make oodles for doing nothing. They gamble with other’s money and suck off huge fees. Those are the titans of our finance sector.

These clowns are just trying to spread tons of money so the players come back the the table and then they order some drinks and the waitress gets some fat tips and buys some new shoes and the shoestore owner goes for that new car and so on and so on. Gotta get the high rollers back to the crap table.

It’s nothing more than that. Rubin and Summers and their ilk don’t work, they think of schemes to extract fees from money play – gotta keep money in play. They are so full of hot air all they know how to do is blow bubbles, I mean make bubbles, and live in bubble and get bobble heads to spew for them and kiss their feet and anoint them masters of the universe.

Riots in Greece – Republic workers take over their plant. That’s only the beginning.

I say fork credit ratings and the banks and companies they use them.

I think a lot of people are going to be giving the middle finger to the banks and CCard companies. They can come and take back the flat screen TVs and laptops and Harleys and have a tag sale. hahahaha

Let’s micromanage the auto companies so nobody will notice ignoring the brazillion to financial services.

Sorta like the headline in my rag today: “Illinois officials arrested”. Didn’t wanna use the G word I guess. Might have led to mention of Siegelman.

callers? on the cspan webstream, all i see is the vote proceeding.

Goldman Sachs is selling CDSs fior state govs to go bust! Step right up and buy your bets that your state is going in the tank – while you make out!

That one is my fave. C# book on the bottom. Figured my mind could use a little exercise. Gettin’ a little rusty in programming.

She was taking calls during the vote.

Not that it will happen but I would love to see the Republicans be made to mount a real filibuster and have to do it straight through Christmas. If they are going to dump on the Christmases of millions in the auto industry, it seems like a small price for them to pay.

purrr-fect!

really! if all they are going to give us is kabuki – they might was well make good.

Palease make them do it!! That way all the middle class and the 95%’ers can see just who the Repukes support! Reid needs to get a set of BALLS and call their bluff the freaking pr#cks! Maybe then we can get rid of all these obstructionists that are the modern day Republican!

Excellent! I’ve been having fun tinkering with python.

The Senator on NPR was Jim DeMint (R-SC)

links to final roll call votes (both passed):

LaTourette Amendment: 403 to 0

H R 7321 Auto Industry Financing and Restructuring Act: 237 to 170

i can barely listen to npr any more…

Jane is upstairs with another instance of the MSM getting it wrong on Employee Free Choice.

I mostly watch or read the MSM to keep track of the daily propaganda, political talking points, spin, and shilling, news and information not so much.

The advances in web programming have come so fast that I decided to stick with Assembly and C++ and teach myself C#.

you’re a stronger person than i am.

Sorta like the headline in my rag today: “Illinois officials arrested”. Didn’t wanna use the G word I guess. Might have led to mention of Siegelman.

Yep. Makes you wonder where the national press was when Seigelman was first arrested. Why wouldn’t they want to smear Dems over that too? Even now when it’s more of a scandal they don’t cover Alabama at all. Strange, huh?

Digg better late than never!

Republicans don’t have to mount a “real” filibuster. Democrats wouldn’t want to put their “esteemed colleagues” through that. They will allow them to kill the loans to the U.S. auto industry and the chicken shit Dems will say we did everything possible. Nader was right. There isn’t a dimes worth of difference between the two plutocratic parties.

You mean National Propaganda Radio? Pravada couldn’t do it any better.

The only way a progressive voice will be heard on NPR is when the people storm the headquarters and take it over. The U.S. needs more of it’s politics played out on the streets. Put the fear of God in the fascists that control the media and the government.

They were on tv.

I just found out that Bernanke studied the Great Depression so I went over to wiki to see if it was true. Seems he did study it. So did he put us in a depression on purpose? Can we impeach him?

Bernanke is particularly interested in the economic and political causes of the Great Depression, on which he has written extensively. On Milton Friedman’s ninetieth birthday, November 8, 2002, he stated: “Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”[16][17][18]

In 2002, when the word “deflation” began appearing in the business news, Bernanke gave a speech about deflation.[19] In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money. Control of the means of production for money implies that the government can always avoid deflation by simply issuing more money. (He referred to a statement made by Milton Friedman about using a “helicopter drop” of money into the economy to fight deflation.) Bernanke’s critics have since referred to him as “Helicopter Ben” or to his “helicopter printing press”. In a footnote to his speech, Bernanke noted that “people know that inflation erodes the real value of the government’s debt and, therefore, that it is in the interest of the government to create some inflation.”[19]

From wiki

Michigan: Population 10. million, ranked 8th in US
Median income for MI $44,627. ranked 21st in US

Alabama: Population 4.6 million, ranked 27 in US
According to the United States Bureau of Economic Analysis, the 2006 total gross state product was $160 billion, or $29,697 per capita for a ranking of 44th among states.

Alabama is also home to the largest industrial growth corridor in the nation, including the surrounding states of Tennessee, Mississippi, Florida, and Georgia. Most of this growth is due to Alabama’s rapidly expanding automotive manufacturing industry. In Alabama alone since 1993, it has generated more than 67,800 new jobs. Alabama currently ranks 2nd in the nation behind Detroit in automobile output. With recent expansions at sites in Alabama, by early 2009 the state will surpass Detroit and become the largest builder of automobiles in North America.

Ian how will the Fed’s approving a Chinese bank in the US going to affect this country?

I’m saving up my money for a Nissan 370Z as we speak. Yes, it’s made in Nippon, but I. Don’t. Care. Nissan isn’t going to declare bankruptcy tomorrow, are they?

Come to me, SynchroRev Match…

Well, the auto co’s will be shut down for 2 weeks for the holidays soon. What work can Wagnor need money for during that time?
The bright side of the vote talking longer is one less day bush has control over the big 2 & 1/2 and one day closer to the BO adm.