(Oct. 1, 2008): "Senate gets enough votes to Pass Amendment to Financial Bailout Bill" 74/25, Senate voting on Final Bill (FOX News) and other vote related topics

[michu]

Reid is blathering now. Vote will start as soon as he shuts up.

CSPAN

[michu]

Henderson is second largest city in Nevada? Wow. I thought Reno was.

[michu]

McCain Aye
Obama Aye

[michu]

Biden passed

[michu]

Came back to Biden, he voted "Aye".

[michu]

This is the Dodd Amendment, I think.

[Ace]

The Dodd amendment H.R. 1424 to the Senate Financial Bill has passed by a vote of 74 (Yeas) to 25 (Nays).

[Linda C]

The Dodd amendment H.R. 1424 to the Senate Financial Bill has passed by a vote of 74 (Yeas) to 25 (Nays).
It is also 150 billion more for I don't know what .I think we went backwards on this one instead of forwards. I know it is more money, but don't know about any better oversight and regulation

[SugnSpicesmom]

Well, I am disappointed in McCain. I feel he should have voted against it. With all the pork in there guess who is going to get slammed left and right for voting for it when he talks non-stop about being anti-port? McCain. Just shaking my head here at this one.

[Mrsawd]

We need to check it out and Call the congress men if we want them to stop it !

[michu]

Real vote was put off until after the House votes because it is a Finance bill. This was all just BS to motivate the House?

[samkm]

SO, this is to amend the base bill to insert the Financial Rescue package into the existing shell (with miscellaneous other stuff that were being discussed elsewhere).

$150B Tax extender plan on top of the $700B "Rescue" plan!!! Just crazy!! Why did they have to add $150B on top of it!!

[michu]

Or was that the vote? I'm so confused.

[Ace]

The Senate is still voting on the final bill.

[samkm]

Real vote was put off until after the House votes because it is a Finance bill. This was all just BS to motivate the House?

Wait a minute, really?

I want the House to lower the numbers.

[michu]

SO, this is to amend the base bill to insert the Financial Rescue package into the existing shell (with miscellaneous other stuff that were being discussed elsewhere).

$150B Tax extender plan on top of the $700B "Rescue" plan!!! Just crazy!! Why did they have to add $150B on top of it!!

Hell if I know. It made absolutely no sense to me. CSPAN had down at the bottom that it was the bailout bill, but it was announced as the Dodd Amendment prior to the vote. Then after the vote, Reid said something about having to vote after the House votes, but CNN is saying it passed.

[Ace]

We need to check it out and Call the congress men if we want them to stop it !

It looks like they are going to have enough votes to pass it.

[samkm]

FOXNews just now said the Senate passes $700B financial bailout bill... It is their subtitle to their discussion with Karl Rove.

[michu]

I *think* it was a pork bill to be attached. It will go to the House (where they'll attach even more pork I'm sure) and IF it passes, then the Senate will vote again.

[michu]

So basically, McCain voted for pork. LOL

[samkm]

Final passage is not gaveled yet. Substance of the bill passed 74-25.

The Senate needed a vehicle. The material got into the text of the bill.

Senate has effectively passed the bill.

Now the House has to pass it. Tomorrow, likely day after tomorrow.

The RESCUE/BAILOUT package $700B and the Tax extender package $150B.

[samkm]

So basically, McCain voted for pork. LOL

That is what Sen.Reid wanted to achieve by pushing the Tax Extender package into the same bill. McCain had already committed to the main part.
This is how they plug in the earmarks. I understand this a little bit better. Kudos to McCain he has been fighting for us a lot.

[Eddie3dfx]

I didn't see the Bill, but if the tax extender is for capital gains, then it's almost a must at this point.
Much of America doesn't understand that we are averting a disaster. Without liquidity and movement in the loan market, people are not getting paid. This backs up enough, we are looking at double the job loss within 6 months.

I'm just extremely upset that when Republicans called meetings on Fannie and what was going on, the Dems cried foul.

[michu]

And here is how our lovely Senators voted for future voting out of office records:

Akaka - Aye
Alexander - Aye
Allard - No
Barasso - Aye No
Baucus - Aye
Bayh - Aye
Bennett - Aye
Biden - Aye
Bingaman - Aye
Bond - Aye
Boxer - Aye
Brown - Aye
Brownback - No
Bunning - No
Burr - Aye
Byrd - Aye
Cantwell - No
Cardin - Aye
Carper -
Casey - Aye
Chambliss - Aye
Clinton - Aye
Coburn - Aye
Cochran - No
Coleman - Aye
Collins - Aye
Conrad - Aye
Corker - Aye
Cornyn - Aye
Craig - Aye
Crapo - No
DeMint - No
Dodd - Aye
Dole - No
Domenici - Aye
Dorgan - No
Durbin - Aye
Ensign - Aye
Enzi - No
Feingold - No
Feinstein - Aye
Graham - Aye
Grassley - Aye
Gregg - Aye
Hagel - Aye
Harkin - Aye
Hatch - Aye
Hutchison - Aye
Inhofe - No
Inoye - Aye
Isakson - Aye
Johnson - No
Kennedy -
Kerry - Aye
Klobuchar - Aye
Kohl - Aye
Kyl - Aye
Landrieu - No
Lautenberg - Aye
Leahy - Aye
Levin - Aye
Lieberman - Aye
Lincoln - Aye
Lugar - Aye
Martinez - Aye
McCain - Aye
McCaskill - Aye
McConnell - Aye
Menendez - Aye
Mikulski - Aye
Murkowski - Aye
Murray - Aye
Nelson, FL - No
Nelson, NE - Aye
Obama - Aye
Pryor - Aye
Reed - Aye
Reid - Aye
Roberts - No
Rockefeller - Aye
Salazar - Aye
Sanders - No
Schumer - Aye
Sessions - No
Shelby - No
Smith - Aye
Snowe - Aye
Specter - Aye
Stabenow - No
Stevens - Aye
Sununu - Aye
Tester - No
Thune - Aye
Vitter - No
Voinovich - Aye
Warner - Aye
Webb - Aye
Whitehouse - Aye
Wicker - No
Wyden - No

[ggreen]

Eegads!!! Harry Reid just got a tingle up his leg while speaking of St. Christopher of the Dodd. (Who should now be able to keep the cash coming in.) I can't stand watching this. He'd better brief Nancy on what to say tomorrow.
___

[RE:]

Just watched C-Span. The Senate is on leave until the 1st week of November!!:rolleyes: Probably to campaign for re-election...ALL 12 OF THEM!! I'm so tired of the NON-WORKING CONGRESS I could just scream.:mad:

[VotingHillary]

Folks,

Kiss any thought of retirement good-bye.

[Kbentleyis]

Does anyone have a list of what was included in the "pork?"

[hillaryhoosier]

I'm very disappointed in Senator Bayh and Senator McCain. :(

[AKFamily]

Mmmmm that felt good :mad: Thank you sir may I have another!

[Vici57]

How do you stand up there with a straight face and praise Dodd. He received the most money from Fannie Mae and Freddie Mac. This man is an embarrassment to the Senate and to the Country along with Barney Frank. Now he will be protected from any investigation. I am furious with this whole mess. The Democrats think they have solved the problem but they forget they cause the damn thing. McCain had to vote so the markets would open again. He realize the magnitude of the situation, but Obama just scratch his butt and picked his nose. He shouldn't have any credit whatsoever. I bet tomorrow he will claim he wrote the bill and twisted the arms to get the votes.

[michu]

Hannity is on... he should tell us what pork is in it. I'm just sick. I hope the House stops it.

[Bad Kitty]

So...just so I have this right. We say no, they say sure and we get screwed. I thought this was a democracy and not a dictatorship, but apparently I was wrong.

[Christines]

I think it was Karl Rove that said on Hannity tonight that the latest poll of the general public was now 50% wanted to have the vote yes and 50% vote no. He said the numbers had changed in favor because the small business man was being squeezed and having to consider laying off people in small businesses. They had been calling their representatives.

[samkm]

Big companies and mid sized had been calling the senators today.

[Bad Kitty]

I think it was Karl Rove that said on Hannity tonight that the latest poll of the general public was now 50% wanted to have the vote yes and 50% vote no. He said the numbers had changed in favor because the small business man was being squeezed and having to consider laying off people in small businesses. They had been calling their representatives.

That's a lie and complete bs! We have been had by our government......again.

[Bad Kitty]

Big companies and mid sized had been calling the senators today.

If we do not have enough money to shop at those places because all of our taxes are going to their irresponsible spending habits, then we'll all be poor anyway.

[lanney]

McDonald franchise nationwide planning to add coffee counter and that will cost $100K per franchise, but now Bank of America had refused to give loan. So McDonald had asked franchise to have other option or delay it.
This is one example.
This bill needed to have money in market.

[michu]

My father just called me on the phone to rant. He was so angry that I didn't ask him for a link, but he said there is a $100 billion in this bill "at the discretion of the President" that he swears will go to ACORN if Obama is elected. I hope he's just having hysterics. :/

[Bad Kitty]

McDonald franchise nationwide planning to add coffee counter and that will cost $100K per franchise, but now Bank of America had refused to give loan. So McDonald had asked franchise to have other option of delay it.
This is one example.
This bill needed to have money in market.

I'm sorry but I REALLY don't care about McDonald's having a coffee counter. If they want it and people want to buy it fine but why in the hell should I have to pay for it. Do I have stock in McDonald's now? Everytime they make one of those cups of coffee am I getting a check.

HELL NO!

[Bad Kitty]

My father just called me on the phone to rant. He was so angry that I didn't ask him for a link, but he said there is a $100 billion in this bill "at the discretion of the President" that he swears will go to ACORN if Obama is elected. I hope he's just having hysterics. :/

Your father is absolutely right. That is a $100 billion dollar blank check to whoever and I don't care if MAC has it, it's dangerous to give someone that much of tax payer money and expect them to do right by this country......as you have seen today.

[eviee]

They only took about a week to pass this. They decided to go the easy way, without taking more time to examine this bailout.
The House and Senate have taken more time to discuss baseball and steriods (what a waste)than this bailout. They gave Bush what he wanted. It is the same approach as the War in Iraq. Few decided to wait on the inspectors, so the herd mentality prevailed.
McCain should not have voted for this bill. I'm disapointed, it will come to bite us in the long run.

[lanney]

I'm sorry but I REALLY don't care about McDonald's having a coffee counter. If they want it and people want to buy it fine but why in the hell should I have to pay for it. Do I have stock in McDonald's now? Everytime they make one of those cups of coffee am I getting a check.

HELL NO!
Let me tell you I am very much against bail out, I want people to pay. I want Chris Dodd, Barney Frank, Obama under oath. I want CEOs to be behind bar. I want somebody should sue CNBC Mad money guy, who is just promoting his friend CEO's and people trusted him and bought Bear Strean, Lehman and WaMu shares on very last day.

Now reality.
This is about tickle down economy, it means if business are unable to expand or get credit line to operate. Bed Bath Beyond, Sears and other stores will go under because there operational credit line may disappear. Chances are couple of these store will close door, same will happen with grocery line.
Small business will suffer most.

Money is required for market to operate.

[michu]

So...just so I have this right. We say no, they say sure and we get screwed. I thought this was a democracy and not a dictatorship, but apparently I was wrong.

The United States is a Republic, not a Democracy. A democracy is ruled by the people. A republic elects representatives that the people *hope* make policy as they wish.

I pledge allegiance to the flag, of the United States of America and to the Republic for which it stands...

Think of the damned electoral college.

We need to move towards being a democracy as witnessed tonight.

[michu]

I think it was Karl Rove that said on Hannity tonight that the latest poll of the general public was now 50% wanted to have the vote yes and 50% vote no. He said the numbers had changed in favor because the small business man was being squeezed and having to consider laying off people in small businesses. They had been calling their representatives.

He either lied through his teeth or was lied to by the representatives that told him this. If this was true, those up for re-election would have voted "aye". The "no" votes that I noticed seemed to be those whose jobs are at risk.

[michu]

Your father is absolutely right. That is a $100 billion dollar blank check to whoever and I don't care if MAC has it, it's dangerous to give someone that much of tax payer money and expect them to do right by this country......as you have seen today.

Are they out of their minds? They act like this is THEIR money and not ours!!!

[Frances]

I'm to the point that I might as call it quits here, and just protest by not voting for anyone, period. I am going to be confronted with McCain voting for this, since I have
stood ground with him being against pork barrel spending...Now I am suppose to stand up
for 850 billion dollar bailout..........This is no democracy, I feel like I need to retreat from
all the bs.

[AKFamily]

Did anyone else see Bush give a 25 billion dollar loan to the big 3 auto companies today? That would have been mass news but this bill trumps everything. Never thought I'd see the day that 25 billion is small potato.

[michu]

Did anyone else see Bush give a 25 billion dollar loan to the big 3 auto companies today? That would have been mass news but this bill trumps everything. Never thought I'd see the day that 25 billion is small potato.

It's unreal.

[kwise]

The way I understood this is all bills dealing with revenue must originate in the house - those are the rules.

That attached tax cut extensions & bs was not really attached to the bailout just the opposite. As the tax extensions and all the wool, racetrack, & arrows crap had already passed the house and senate H.R. 6049 - they attached the bailout as an amendment to that so it was sort of a procedure thing. As the senate is leaving till Nov. to run their own campaigns.

Still the price tag at 700 billion is staggering - they had already passed H.R. 6049 just not sent to the Presidents desk.

[lynfreedom]

on radio earlier the senator on there that was against said that acorn was out but that did not mean future presidents could not change that

[Bad Kitty]

Let me tell you I am very much against bail out, I want people to pay. I want Chris Dodd, Barney Frank, Obama under oath. I want CEOs to be behind bar. I want somebody should sue CNBC Mad money guy, who is just promoting his friend CEO's and people trusted him and bought Bear Strean, Lehman and WaMu shares on very last day.

Now reality.
This is about tickle down economy, it means if business are unable to expand or get credit line to operate. Bed Bath Beyond, Sears and other stores will go under because there operational credit line may disappear. Chances are couple of these store will close door, same will happen with grocery line.
Small business will suffer most.

Money is required for market to operate.


I completely understand that but they would have the money if they weren't trying to swindle people in the first place. They caused the problem and we shouldn't have to fix it. That's my point.

[Disfranchised]

All the one who voted for this bill should be ashamed of themselves. Kodos to Nelson, Dole, Allard, Brownback, Bunning, Feingold, Cochran, Cantwell, Barasso, Crapo, DeMint, Dorgan, Enzi, Inhofe, Johnson, Landrieu, Roberts, Sanders, Sessions, Shelby, Stabenow, Tester, Vitter, Wicker, Wyden to stand up.
Senator Inhofe already speaks his mind on his site about this.
http://inhofe.senate.gov/public/index.cfm?FuseAction=PressRoom.PressReleases&ContentRecord_id=bb4905b6-802a-23ad-4743-bc131926f503

[Charlie Brown]

America is fried....Our Children will never know the country we knew...Do you get this....they sold our souls to the money devil...How will we pay this debt back....Its not possible...

[nette60]

I think things have gotten to the point where they have to do something now. However I think we should call for congressional hearings on this.

[Bad Kitty]

America is fried....Our Children will never know the country we knew...Do you get this....they sold our souls to the money devil...How will we pay this debt back....Its not possible...

Plus we were already in debt before this. So just add this on that trillions of dollars.

[Bad Kitty]

I think things have gotten to the point where they have to do something now. However I think we should call for congressional hearings on this.

They could have started with stopping what caused all of this in the first place....i.e. lowering gas prices. Before gas was $500/gal people could afford to pay their bills.....well most anyway, and our lives weren't this messed up.

But we got to okay with the idea of being screwed that nothing was ever done about it and now it's happening again.

[michu]

Read the whole thing here: http://apnews.myway.com/article/20081001/D93HV16O0.html

As revised by the Senate, the package would extend several tax breaks popular with businesses. It would keep the alternative minimum tax from hitting 20 million middle-income Americans, and provide $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana.

The bill would not point to offsetting spending cuts to pay for the AMT and disaster provisions, but it would have revenue offsets for part of the energy and extension measures. The failure to offset many of the tax cuts angered the House's band of "Blue Dog" Democrats.

The increase in the deposit insurance cap was a bid to reassure individuals and businesses with accounts in banks and similar institutions.

The Senate specializes in high-stakes legislating-by-enticement, and the long list of sweeteners it added was designed to attract votes from various constituencies.

Tax cuts new and old are favorites for most House Republicans, the main target of intense lobbying to gain support for the measure. Help for rural schools was aimed mainly at lawmakers in the West, while disaster aid was a top priority for lawmakers from across the Midwest and South.

Another addition, to extend the deductibility of state and local taxes for people in states without income taxes, helps Florida and Texas, among others.

And there were plenty of obscure tax breaks to go around, like one for certain wooden arrows used by children, and another benefiting litigants in the 1989 Exxon Valdez oil spill.

Senate leaders were expected to try adding another goodie before the final vote: extending a tax break for homeowners who do not itemize their tax returns.

[michu]

They could have started with stopping what caused all of this in the first place....i.e. lowering gas prices. Before gas was $500/gal people could afford to pay their bills.....well most anyway, and our lives weren't this messed up.

But we got to okay with the idea of being screwed that nothing was ever done about it and now it's happening again.

Exactly. Our dependence upon foreign oil is killing us. If we would have started drilling long ago, we wouldn't have these outrageous gas prices. The cost of everything wouldn't have gone up because of shipping. Corn feed wouldn't have gone up running our food up, Electricity, Heating oil is going up this winter, etc... etc... etc...

With everything else going up, it made it nearly impossible for those to pay their mortgages when they were already tight.

Pass the damned energy bill to include drilling and nuclear. Please. So we aren't still here 5 years, 10 years, 20 years from now complaining about energy.

[PrincesseJen]

**FLASH** The REAL REASON For The Bailout (Hint: FOREIGNERS)

YouTube - **FLASH** The REAL REASON For The Bailout (Hint: FOREIGNERS)

[hobbitt]

All the one who voted for this bill should be ashamed of themselves. Kodos to Nelson, Dole, Allard, Brownback, Bunning, Feingold, Cochran, Cantwell, Barasso, Crapo, DeMint, Dorgan, Enzi, Inhofe, Johnson, Landrieu, Roberts, Sanders, Sessions, Shelby, Stabenow, Tester, Vitter, Wicker, Wyden to stand up.
Senator Inhofe already speaks his mind on his site about this.
http://inhofe.senate.gov/public/index.cfm?FuseAction=PressRoom.PressReleases&ContentRecord_id=bb4905b6-802a-23ad-4743-bc131926f503

Today the pundits are all talking about how auto dealers are suffering because their customers cannot get auto loans.

B. S.

The basis for this claim is that car sales were down, as reported last month.

In other words, 'last month's report of sales' reflected July's sales.

Or months before any talk of financial failure, bailout, "Wall Street versus Main Street."

There are about 5000 banks in the US; 117 of them are in trouble.

There is too much hype going on here. Too much "forest for the trees."

Let the damned banks and brokers who failed through greed and fraud - go ahead and fail.

Let the financial institutions which stuck to their principles take up the slack.

This bailout is ridiculous and dangerous.

And at the very least, surely not time to be adding frills to these bills while claiming Impending Disaster.

If the situation is so damned horrifying, why are "our" legislators adding pork to the bill?

[HumbleDave]

Screw the bail out. No deal. Harry Reid can shove it up his A$$!

[DC_Mark]

It appears the bill will likely pass the House this Friday as well. House Republicans appear to have been appeased by additional pro-market provisions.

Personally, I'm satisfied by the improvements to the bill. Now it looks like a comprehensive rescue plan rather than the straight bailout that the Paulson plan was. The government has a number of different tools to deal with the crisis.

[Agent 00½ FL]

I have come to the conclusion they are going to do whatever they want. Taxpayers be damned.

[ModerateRepublican]

It appears the bill will likely pass the House this Friday as well. House Republicans appear to have been appeased by additional pro-market provisions.

Personally, I'm satisfied by the improvements to the bill. Now it looks like a comprehensive rescue plan rather than the straight bailout that the Paulson plan was. The government has a number of different tools to deal with the crisis.

My take is slightly different.

Original Bill = turd sandwich.
This Bill = turd sandwich sprinkled with sugar so it taste better.

FDIC insurance, Tax breaks, AMT relief, school assistance, disaster aid, and earmarks could easily be a separate bill.

The questions to ask yourself is. If they removed all of the above and passed it in a separate bill costing $150 Billion. Would you vote for the $700 Billion bill which is essentially unchanged from the house version?

I wouldn't. A turd sandwich is a turd sandwich regardless of how much sugar you coat it in. :D

[Justmy.02]

According to my morning newspaper, the 'sweeteners' would:

Provide business tax breaks including for the production of, investment in, and the use of renewable fuels;

Require group health plans that include mental health or addiction treatment to provide coverage for those conditions that is equitable to other medical coverage;

Increase personal credits against the alternative minimum tax, shielding more than 20 million taxpayers from the tax;

Grant tax relief to victims of natural diasters in the Midwest and elsewhere;

Extend through 2011 a program that funds rural schools and local governments that have low property-tax bases because they lie within or are adjacent to federal lands;

Extend until the end of 2008 the deduction for state and local general sales taxes;

Extend until the end of 2009 individual tax breaks, including deductions for higher education costs and teachers' personal expenses;

Increase, from $100,000 to $250,000, the limit on federal bank deposit insurance.

There were also tax extenders for motor-sports racing tracks, makers of wooden arrows for children, and the rum excise tax for Puerto Rico and the Virgin Islands.

I did not read anything about money going to ACORN, but who knows. If anyone does, please let me know...grrrr.

The only thing I read about $1 Billion is that the money to buy troubled assets will be phased in, with $250 Billion available immediately, $100 Billion to be released if the president certifies it is needed, and the last $350 Billion available with another certification, but subject to a congressional vote.

[PA_Voter]

Well, I am disappointed in McCain. I feel he should have voted against it. With all the pork in there guess who is going to get slammed left and right for voting for it when he talks non-stop about being anti-port? McCain. Just shaking my head here at this one.

Don't worry... November 5th as Prez he can have Palin chop up the pork!

[Marie]

The bill is a bunch of b.s. Credit is not frozen. My sister just got a $20,000 unsecured loan today. My friend just got pre-approved for a house yesterday. Gas is $3.10 a gallon in some spots here.

I think McCain should've done this: He should have voted "no" for this bill. He should've said he is not supporting giving money back to crooks and swindlers, especially close to $1 trillion dollars. He should've said "Obama said we need to put the fire out, but I believe we need to let it burn and start over". Burn baby burn. He should've said he doesn't know what's going to happen to the economy. Nobody does. Especially President Bush. But having the government get involved in this way, is against the constitution of this country. He should've said all this, but he didn't.

Case in point. Here are some quotes on the floor the last couple days that I captured:

"Maybe this will work". (some republican)
(Maybe? Maybe I'll win a billion dollars tonight, too)

"There is the potential of our financial system literally falling". (Kerry, D)
(Potential? You mean Literally? sheesh.)

"We need to revamp our regulatory scheme". (Martinez, R)
(So you agree it's a scheme?)

"We are committing malpractice" (Coburn, R)
(Then you all need to go to jail)

Here's the worst quote:
"I think the American people would've been proud of us today". (Dodd, D)
(Proud? I think you mean pissed. Idiot)

"How did it sneak up on us so silently? Almost on Little Cat Fleet" (Pelosi, D)
(Little Cat Feet? You tell em Nancy. lol)

Here's some freudian slips:
"It's a heavy load to bury." (Some R -
(I'll say)
"Let's not act rationally. Now is not the time". (Some R)

The best one was from Kucinich (D):
"Not today"

[DC_Mark]

The questions to ask yourself is. If they removed all of the above and passed it in a separate bill costing $150 Billion. Would you vote for the $700 Billion bill which is essentially unchanged from the house version?

There's no use complaining that the medicine is bitter. The relevant questions are whether it works and whether it has unintended side-effects. Personally, I have doubts about Paulson's reverse auction idea. It's good that the bill mandates an insurance scheme. Loans to banks are also a better option than buying up toxic assets. Suspending mark-to-market is also an important step.