People in an earlier thread were asking for a list of the 63 Democrats who joined with the 165 Republicans to pass an amendment putting a huge loophole in Alan Grayson’s bill, which would have forced TARP recipients to stop paying "retention bonuses" as long as they were being supported by taxpayer dollars.
Melissa Bean’s amendment says that as long as banks start paying back their loan money, which they can do with their loan money, they are no longer subject to the limitations imposed by the Grayson bill.
Here are the Democrats who voted to give the banks the loophole they wanted. From Open Congress:
| ReRep. Gary Ackerman [D, NY-5] Rep. John Adler [D, NJ-3] Rep. Jason Altmire [D, PA-4] Rep. Melissa Bean [D, IL-8] Rep. Timothy Bishop [D, NY-1] Rep. John Boccieri [D, OH-16] Rep. Frederick Boucher [D, VA-9] Rep. Travis Childers [D, MS-1] Rep. Yvette Clarke [D, NY-11] Rep. Steve Cohen [D, TN-9] Rep. Jim Cooper [D, TN-5] Rep. Joseph Crowley [D, NY-7] Rep. Henry Cuellar [D, TX-28] Rep. Lincoln Davis [D, TN-4] Rep. Eliot Engel [D, NY-17] Rep. Bob Etheridge [D, NC-2] Rep. Bill Foster [D, IL-14] Aye Rep. Gabrielle Giffords [D, AZ-8] Rep. Parker Griffith [D, AL-5] Rep. Jane Harman [D, CA-36] Rep. James Himes [D, CT-4] Rep. Steve Israel [D, NY-2] Rep. Paul Kanjorski [D, PA-11] Rep. Ronald Kind [D, WI-3] Rep. Ann Kirkpatrick [D, AZ-1] Rep. Frank Kratovil [D, MD-1] Rep. Rick Larsen [D, WA-2] Rep. Nita Lowey [D, NY-18] Rep. Daniel Maffei [D, NY-25] Rep. Carolyn Maloney [D, NY-14] Rep. Betsy Markey [D, CO-4] Rep. Edward Markey [D, MA-7] |
Rep. James Marshall [D, GA-8] Rep. Eric Massa [D, NY-29] Rep. Jim Matheson [D, UT-2] Rep. Betty McCollum [D, MN-4] Rep. Mike McIntyre [D, NC-7] Rep. Michael McMahon [D, NY-13] Rep. Gregory Meeks [D, NY-6] Rep. Walter Minnick [D, ID-1] Rep. Patrick Murphy [D, PA-8] Rep. Jerrold Nadler [D, NY-8] Rep. Richard Neal [D, MA-2] Rep. Glenn Nye [D, VA-2] Rep. James Oberstar [D, MN-8] Rep. Ed Perlmutter [D, CO-7] Rep. Collin Peterson [D, MN-7] Rep. Jared Polis [D, CO-2] Rep. Earl Pomeroy [D, ND-0] Rep. Charles Rangel [D, NY-15] Rep. Mike Ross [D, AR-4] A Rep. C.A. Ruppersberger [D, MD-2] Rep. Bobby Rush [D, IL-1] Rep. John Salazar [D, CO-3] Rep. Allyson Schwartz [D, PA-13] Rep. Joe Sestak [D, PA-7] Rep. Heath Shuler [D, NC-11] Rep. Adam Smith [D, WA-9] Rep. Victor Snyder [D, AR-2] Rep. John Tanner [D, TN-8] Rep. Anthony Weiner [D, NY-9] Rep. David Wu [D, OR-1] Rep. John Yarmuth [D, KY-3] p |
And here’s Brad Sherman about why this amendment is so objectionable:




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No Ellen Tauscher? Seems right up her alley.
Oh well, so much for the Duma.
Oberstar? His office will be getting a phone call shortly. Disappointing.
Gotcher red hot Katymine toll free numbers right here:
Toll-free numbers for Congress:
1 (800) 828 – 0498
1 (800) 459 – 1887
1 (800) 614 – 2803
1 (866) 340 – 9281
1 (866) 338 – 1015
1 (877) 851 – 6437
The default position of our leaders, is in every case, to the benefit of corporate interests.
I’m afraid that we will not see any change in this situation until they grow tired of us standing noisily in their front yards and chasing them down the halls of congress.
looks like only one turncoat from the Golden State
Rep. Jane Harman [D, CA-36]
wtf, Jane? where is CA-36 by the way?
I would very much like to challenge David Wu in Oregon’s 1st District. He voted for TARP as well.
On issues of fiscal policy he’s about as far away from liberal as possible.
Thanks Jane.
I’ve got a lot of calls to make
“Start” paying it back. So what, pay $1 per month (or less) and then magically no longer covered by the Grayson limits? Bogus. I have to think this was hurriedly introduced, because I’m pretty surprised to see Betty McCollum on the list. Or did House members know full well what they were voting for, and just like giving banker barons their unlimited greed?
I think you’re right.
MSNBC says as many as 14 killed in an immigration center in NY
So, after we give them billions, all they have to do is give two bit’s back and say we’re paying off the TARP money? And then they can bonus whomever they want?
Jesus, what a racket.
And Melissa, you’re not worth a hill ‘a bean’s…
Whoa. Quite a few Blue America/Act Blue folks on that list. They should be highlighted and called.
Leave TARPers alone!
One good thing; when you buy a Congress critter, they stay bought. Who says politicians are unethical?
Disappointing.
As usual.
John Adler (NJ-3) website is boasting abouit hsi support for this. says tarp money can’t be used for bomuses and unreasonable or excessicve compensation “[u]ntil the funds are repaid.”
Now, only some not all must be reapid, right? is there any minimum? any formula in the bill to calculate how much has to be repaid?
Yup and Massa owes me a call about taking Corporate Pac money as soon as he got to DC……
Ron Kind’s office was receptive to criticism.
yep.
I can’t stand it.
What a bunch of blowhards. Feeding off our populist rage as they pose as politicians for the people and then with a flick of the switch they vote for THEIR pocketbooks.
########.
I wonder how Grayson’s feeling right now.
massa called.
Garyson’r website saying:
GRAYSON’S PAY FOR PERFORMANCE ACT PASSES
Very very depressing to see a number of the prominent names on that list.
Herding instinct triggered by brute-level fear of running free for the people of this nation? We can help fix that.
Ladies and gentlemen, where art thy spines? Have they withered so that you must be permanently bowed to idiocy, greed, and self interest?
Disgusting. Nadler? Boccieri? Markey of MA??? Hang your heads in shame.
Bocc… is new. The others? Just how much seniority is required to allow a man to stand upright when it really counts?
If you won’t stand up for the people, you certainly are not needed in Congress, folks. Go home to your heated pools and freedom hors d’oeuvres. You mock the People’s House, and its very basis for existence.
All taken from wiki. my bold.
OT,
SORRY
Glenzilla is over at cato.org doing a seminar/lecture re drug legalization in Portugal.
VERY kewl.
Oh.
Hmm.
OT,
SORRY
Glenzilla is over at cato.org doing a seminar/lecture re drug legalization in Portugal.
VERY kewl.
Another option is to call all the reps in your delegation who didn’t cave. IMHO it’s important to let them know we’re paying attention.
Himes in CT too. I think he’s blogged at FDL twice.
FWIW, the north east corridor may be more susceptible to big banking. I don’t know. Maybe the bigger whores are Bean in IL and Kind in effing Western Wisconsin.
there ya go! We sing from the same book. Unfortunately Boccieri, who’s new and ours, for the moment, caved…. I got nuttin’
I’m calling Bean’s office to say I’ll be sending a donation to her primary opponent. That is of course I’m not living on the streets.
I need to get one of those punching things that pops back up because I want to hit something on a daily basis. My question is – Who do these people think they are? And don’t they get any sense of the rage out here?
Goddammit. WTF?
They are in DC looking at their hands going
“rage? money? Rage? Or Money! FGS! Money!
Lots and lots of money!
I vote for money!”
Progressive change in the U.S. is next to impossible until people realize that decisions are not made by “political parties” but by class interests. To think otherwise is naive.
Melissa your a Patsy the Fall Gal you put your name on a bill not even Republicans wanted their names on. Again I repeat not even the Republicans all 165 of them did not want their names on this bill.
Why because this bill is unpopular now either the economy gets better real quick or the Republicans will use your vote on this bill against you in the election.
Melissa you got played.
WHOA! New York is waaaay over represented on that list. Waaaay too many from that one state!!
I’m proud to report my rep Jackie Speier voted Nay.
Ding ding ding.
Looks like 13 NY reps. Not serving the “people” but their class, the banksters.
25% (15) of them from New York.
Hey Melissa is from my old district I’m feelin the shame too!
I got 15!! and if you throw in Pa, it is a lot of those NE corridor types. How many districts does NY HAVE anyway??
Worse than my initial tally.
In that case, I’m really pleased to see that Representative John Hall (NY-19) was not on that list! Proud of him, even if I do come from AZ. True to his principles, and fine principles!
To “reform” the current Democratic Party will take 30 years but by then it will not matter. The U.S. will be completely corporatized and a new feudalism will be in place. Until there is a grass roots progressive movement that challanges all of the myths of a corrupt and compromised political system nothing of substance will change. Merely tweaking at the edges. It will only continue to deteriorate for the middle and working classes.
I’d love to hear Nadler’s excuse. And Markey’s of MA. They’ve got power and seniority up the wazoo. That they would vote against the people is disgusting.
And not one from Michigan…yay…Good on you, Michigan reps!
Adie, it’s all about class. Just because they have a “D” behind their name does not mean they represent the “people.”
Agreed. She’s special.
This could, unfortunately, be very true…unless we mobilize and go to the halls of congress and refuse to leave until certain election laws and anti-lobbyist laws are enacted.
The fact that Michigan still has some union muscle could explain their vote. Of course Obama, the Blue Dogs, Geitner and the Republican Party are doing all that’s possible to see that unions are not relavent in the future.
S. Levin from Michigan abstained, so good on everyone, except him.
29
18 of the 29 voted for it.
Thank you for this, EMPY. I am now making a phone call. (although I am REALLY hoping Sander doesn’t run again)
I’m guessing the majority of NY State was looking at having their pay/bonus structured by the Fed, so these reps were just looking out for the people. I can’t think of any other reason for these Dem votes.
That’s because NY is too damn dependent on Wall Street monies for it’s budget.
It’s nice to see that the Florida Dems hung with Grayson and said no to this shite.
I can see the sleaze. But I am NOT one to label elitism as a necessary adjunct to wealth. I have friends and relations who are rich as skunks. It’s not necessarily class elitism, pure and simple, if that’s what you’re driving at.
Both Christy and I went to Smith, FGS.
It’s a kind of blindness. I’ve seen it. I’m sure she has also. I lived and worked beside it, grew up with it and hated it from elementary school on, quietly fought it from inside, outside, beside. Took considerable heat more than once for even the quiet version of “standing up”.
Thank dog our nuclear family are all pretty equally progressive and active, including our “kids”. They made up their own minds and were not coerced. They win over their friends and many many people who used not to understand. Proud of those young fellas? You bet! They have not taken the easy road. They stand up for their beliefs. They’ve educated themselves and do not vote blindly, nor stand idly by and ignore injustices.
Some very “nice, concerned, honest, generous” people are utterly blind to the dark side of class and race issues, and the horrible effects of some of this sort of legislation and policy we just witnessed. It is VERY difficult to talk to a lot of these people, because they just don’t get it. But some DO become very defensive and strike out at anyone who calls them on it. That’s hard to deal with when it even comes from within your family; a situation that is all too real for some people. All I’ll say is I have it easier now psychologically, if not economically, than when I was growing up in the ’40s & ’50s & ’60’s.
We must keep speaking out, and trying every way we can to get the “comfortable” people to look up and out, and to see the pain they have conveniently disregarded in the past.
Thanks to all at the Lake for their various efforts to make things better for all. ;->
I disagree with Jane’s evaluation of Grayson’s bill- that it “would have forced TARP recipients to stop paying “retention bonuses” as long as they were being supported by taxpayer dollars.” Grayson’s bill did not prohibit retention bonuses.
Grayson’s original bill states that the Treasury Secretary shall establish performance-based standards “that a financial institution must apply when determining whether it may provide a bonus or retention payment… “
In other words, Grayson’s bill gives great leeway and has great reliance on the ability and judgement of Secretary Geithner to determine whether TARP recipient’s may provide bonus or RETENTION payments, regardless of ANY REPAYMENTS by recipients.
Therefore, why not also trust Secretary Geithner’s judgement regarding TARP monies being repaid in an appropriate amount in an appropriate manner, with the company being rewarded with bonus and retention payments not being set by the government?
Sorry to see my Congresswoman, Yvette Clarke, on the list. She’s been a mostly reliably progressive heir to the seat long held by the mostly reliably progressive Major Owens. Because she’s so often so good (eg, she’s a co-sponsor of HR 676), I tend to cut her slack for periodically bowing to the prerogatives of the NY delegation, which I presume was the dynamic here.
It looks to me like the Bean amendment is actually kind of redundant. The bill, as introduced by Grayson and Himes, already stated that one of the standards for deciding whether a company can pay bonus is:
‘(i) the stability of the financial institution and its ability to repay or begin repaying the United States for any capital investment received under this title;
http://www.opencongress.org/bi…..d=t0:eh:18
Will wonders never cease??!!
IN isn’t on the &hitlist!!!
wow. that’s an urban district which should be progressive-leaning. btw, wasn’t that Jane Hamsher’s old district.. I mean where she lived?
Exactly and that’s what Grayson was trying to tell the Fox News ding-dong on the link above in the post.