Donna Edwards Explains Her Yes Vote on Bailout

Donna Edwards

Donna Edwards

I’m just going to post this so people can offer their reactions:

Congresswoman Edwards Votes for Main Street – Jobs, Retirement Savings, Home Owners, and Small Businesses

Senator Barack Obama Salutes the Congresswoman’s Vote and Pledges Commitment to Provide Direct Relief to Homeowners

Washington D.C. – Congresswoman Donna F. Edwards (D-MD) today voted for the Emergency Economic Recovery Act. She had voted against the package that was defeated earlier in the week. Today’s bill passed the House 263-171.

"Today our country stands at an economic crossroads," said Rep. Edwards. "My vote today was all about Main Street –jobs, retirement savings, home owners, and small businesses. While this legislation does not aggressively strengthen foreclosure mitigation efforts more directly for homeowners the ramifications of doing nothing impacts us all.

"After speaking with Senator Barack Obama yesterday and with many of our retirees, workers, homeowners and small business owners, I am convinced today that even left with this imperfect product, the choice is this or nothing. For me, doing nothing was never an option. I appreciate the personal commitment that Senator Obama made to me that we will work to provide direct relief to homeowners facing foreclosure by enabling home mortgages to be dealt with in the context of personal bankruptcy and looking at a program such as one that existed in the 1930’s to 1950’s to work directly with homeowners to mitigate foreclosures. I look forward to working with the leadership and the President to protect homeowners and stabilize our economy. Finally, I understand that this is the beginning of our work to stabilize our economy and prepare for our future—creating jobs, rebuilding our infrastructure and setting important priorities for health care, energy independence, and prosperity for working families."

(more…)

Donna Edwards Explains Her Yes Vote on Bailout

I’m just going to post this so people can offer their reactions:

Congresswoman Edwards Votes for Main Street – Jobs, Retirement Savings, Home Owners, and Small Businesses

Senator Barack Obama Salutes the Congresswoman’s Vote and Pledges Commitment to Provide Direct Relief to Homeowners

Washington D.C. – Congresswoman Donna F. Edwards (D-MD) today voted for the Emergency Economic Recovery Act. She had voted against the package that was defeated earlier in the week. Today’s bill passed the House 263-171.

"Today our country stands at an economic crossroads," said Rep. Edwards. "My vote today was all about Main Street –jobs, retirement savings, home owners, and small businesses. While this legislation does not aggressively strengthen foreclosure mitigation efforts more directly for homeowners the ramifications of doing nothing impacts us all.

"After speaking with Senator Barack Obama yesterday and with many of our retirees, workers, homeowners and small business owners, I am convinced today that even left with this imperfect product, the choice is this or nothing. (more…)

Shorter David Brooks: I Crave Bondage

leather daddy

Shorter Bobo: Take me, Daddy!

And let us recognize above all the 228 who voted no — the authors of this revolt of the nihilists. They showed the world how much they detest their own leaders and the collected expertise of the Treasury and Fed. They did the momentarily popular thing, and if the country slides into a deep recession, they will have the time and leisure to watch public opinion shift against them.

[snip]

We’re living in an age when a vast excess of capital sloshes around the world fueling cycles of bubble and bust. When the capital floods into a sector or economy, it washes away sober business practices, and habits of discipline and self-denial. Then the money managers panic and it sloshes out, punishing the just and unjust alike.

[snip]

What we need in this situation is authority. Not heavy-handed government regulation, but the steady and powerful hand of some public institutions that can guard against the corrupting influences of sloppy money and then prevent destructive contagions when the credit dries up.

My goodness, all that sloshing!

Dr. Freud, call your office.

Bailout May Lack the Votes

Hat tip to Matt Stoller, via email:

But with conservative Republicans denouncing the plan as an affront to free-market capitalism and some liberal Democrats criticizing it as a giveaway to Wall Street, both parties were anxiously starting to court votes, particularly in the House, where angry Republicans nearly scotched a deal that had been in the works for days.

House Republicans, under pressure from Democrats to deliver 70 to 100 votes, were scouring the ranks and focusing on the two dozen Republicans who are retiring this year.

Both parties also were scouring the political map to identify lawmakers who face little or no opposition for re-election in November, knowing they would be more willing to vote yes.

Democratic officials said that despite having control of both chambers in Congress, they were far from having a majority sufficient to pass the measure just from their ranks. And they also warned that Demo-crats in potentially tough races could not be counted on to provide the votes to put the package over the top when it reaches the floor.

They’re not under any illusion the country wants this. So we know who’s pulling the strings here.

Why Does McCain Blink So Much?

Ok, I was watching the debate last night and covering it on my twitter feed, curious to see what $5000 of makeup looks like, and curious as ever to determine if McCain’s suit’s shoulder pads, once and for all, are or are not larger than those of Antonio Pierce.  But watching it, I started to get insanely dizzy just looking at him.

WTF was with all that blinking?!!

Check out the video.  It’s just a sample, we could have taken almost any footage.  I mean, it was manic.  Was McCain:

  • lying, full of shit, as my deposition taking attorney better half suggested?
  • neurologically impaired due either to age, cancer, prescription drugs or something else?  (How about finally bailing out those medical records for all to see, Senator?  I mean, wtf?)
  • trying to contain his famously seething rage, but it comes out in his eyes?
  • flirting with Jim Lehrer?

I don’t know what the hell it was about, but it made it really, really hard for me to look at him.  He was going way too fast to count. 

Does he do this all the time?

Why do you think he blinks like he has butterfly wings for eyelids? 

Watch the video!

McCain’s Online Ads Say He Won Debate. . . Before Debate Occurs

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Nice catch by Chris Cillizza over at the WaPo campaign blog. He has a screenshot of an online ad that slipped out early declaring McCain tonight’s debate winner. This is a strategy ripped right out of the Kerry 04 playbook, and it worked.

MSHC, the ad agency who designed and ran the "Kerry Won" online ad campaign in 2004 did a study that showed the people who saw the online ad – including Democrats, Republicans and Independents – all were more likely to believe that Kerry won, by statistically significant margins.

They’ve been talking about this study ever since to show how online ads actually do persuade people if they are done well (political issue groups take note: banner ads are not only good for building up your email lists, don’t let the TV and print ad buyers fool you).

The way the campaign works is, you put the ads live right after the debate ends when people are online reading about the debates in the news. This McCain ad slipped through too early, and it got caught at the Wall Street Journal.

Oops! I guess whoever is trafficking that ad over at the WSJ will have some explaining to do about the screwup.

McCain’s Online Ads Say He Won Debate. . . Before Debate Occurs

picture-2.thumbnail.png

Nice catch by Chris Cillizza over at the WaPo campaign blog. He has a screenshot of an online ad that slipped out early declaring McCain tonight’s debate winner. This is a strategy ripped right out of the Kerry 04 playbook, and it worked.

MSHC, the ad agency who designed and ran the "Kerry Won" online ad campaign in 2004 did a study that showed the people who saw the online ad – including Democrats, Republicans and Independents – all were more likely to believe that Kerry won, by statistically significant margins.

They’ve been talking about this study ever since to show how online ads actually do persuade people if they are done well (political issue groups take note: banner ads are not only good for building up your email lists, don’t let the TV and print ad buyers fool you).

The way the campaign works is, you put the ads live right after the debate ends when people are online reading about the debates in the news. This McCain ad slipped through too early, and it got caught at the Wall Street Journal.

Oops! I guess whoever is trafficking that ad over at the WSJ will have some explaining to do about the screwup.

Breaking: Obama Lays Down a Marker on the Bailout

FDR’s Heir?Our own Julia is liveblogging the Clinton Global Initiative forum, and this just happened. She reports Obama as saying, (paraphrased):

OK, we’re on the economy now. We have a crisis as serious as any since the great depression. It’s outrageous that taxpayers should have to shoulder the burden of greed and irresponsibility on Wall Street and in DC.

We need an independent oversight board on spending the money. We need to be equity partners in return for the bail out. We won’t bail out Wall Street without helping homeowners. We shouldn’t give anyone a bonus.

He’s pleased that Senator McCain has adopted his principles. He’s going to DC later to try to help out. Then he’s going to Oxford to get ready for the debate. The election is in 40 days, and the public deserves to hear from both Obama and McCain what they plan to do.

In response to McCain, she reports Clinton as saying:

Clinton just hit back at McCain’s suggestion that Obama was politicizing the situation. He said Obama came to visit him in Harlem on Sept. 11th, but wouldn’t turn it into a campaign event because he wouldn’t politicize the day. Bill wants to thank him for the way he’s handled the current crisis, and the way he’s running for president (looking for systemic fixes and long-term solutions).

Keep up with her liveblog at the Campaign Silo.

Update: From the comments, Selise is skeptical. Hopefully we can get a transcript of the precise wording:

pach – that’s kabuki, not a marker.

oversight is not accountability. equity is not taking ownership of the mortgages. and the bonus thing is just a throw away line.

when obama calls for accountability, transparency and re-regulation as part of the deal for a so-called “bail-out” then i’ll take his talk seriously.

Update II: And nothing in there about bankruptcy reform.