Sen. McClintock was on the Armstrong & Getty Show this morning to discuss the defeat of the bailout. He talked about why the $700 billion bailout was bad for our nation. Also Sen. McClintock put forth several measures that can be done now to improve the financial crisis.
Click here to listen to the Armstrong & Getty interview.
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I am a financial planner and have many clients being hurt by the current banking liquidity problem. Please vote yes for the bail out. It may unjustly reward a few hundred "wall street fat cats" but if you run the numbers about 99.8% of the funds will help everyone else. Don't throw out the baby with the bath water! Thanks
The bailout is a massive failure of the federal government to serve the People. Instead, the federal government is controlled by communists posing as democrats, and spineless jellyfish posing as republicans. Lots of people in congress should GO TO JAIL over this, especially Maxine Waters, Barney Frank, Christopher Dodd, Chucky Schumer, and the rest of the socialist scum that fought regulation, investigations, and covered up for the Clinton scum running Fannie Mae and Freddie Mac. Additionally, Bill Clinton should be put in jail for the pressure his administration put on financial institutions to make loans no sane person or lending institution would normally. It isn't poor people that are to blame, it's scumbag democrats and spineless jellyfish republicans that need to do hard time at a federal pentientiary, not Club Fed.
Any member of congress that voted for this bailout fraud should be fired and tarred and feathered for defrauding the People of the United States of America. A pox on them and their families for doing this to us. And this includes the two shameless frauds running for the presidency.
Once the perps are behind bars (for a loooooong time), the greedy pigs on Wall Street can go belly-up and let the greedy pigs across the world stew in their own greedy juices. The people that took the liar-loans knowing that they couldn't qualify, and especially the people that bought multiple houses, rented them out and NEVER made a mortgage payment, but pocketed the money can burn too. This is an unconscionable fraud perpetrated against the American People, enabled by liars, cheats, and criminals posing as elected officers of our government, and they are scumbags that deserve the worst that can happen to them, as they did it the old fashioned way: they EARNED it.
I'm kind of with Mike.
I say let's end the Federal Reserve. Problem solved. Almost all Americans give 50% of their personal income to the government in one shame or form. That is an astronimical number. Want to hear what's even worse?
Not one dime sees the light of day of any Public Treasury. Every penny gets sent to foreign banking cartels under the guise of "federal" reserve. When I began to learn about this system of an unelected, refusing to be audited organization that literally TAKES EVERY PENNY collected by the IRS and then bills future generations in higher cost of living INLFATION... I cried.
Whever government spends for its ever expanding programs it prints this money out of thin air and bills the future to have higher costs in living.
Two income families at this point in time are RARE to find that don't hve to turn to the government FOR SOME kind of monetary help. Its so bad and we're headed to completing and totaling bankrupting this once free nation and people.
I say let's end the fed
http://realityzone.com/perfecttax.htmlThe IRS does absolutely nothing for the American People in fact they work for foreign banks. Its a sham. This explains the real reason we have an income tax (it is not to raise revenue for the government) and exposes the hidden dangers of a flat tax, national sales tax, value-added tax, and other so-called tax-reform proposals. http://realityzone.com/perfecttax.html
I also singed up for this site:
http://www.endthefed.us
I don't support the bail out transfering private debt to the taxpayers. The banks have thousands of financial experts who were aware the industry was going to be dangerously overleveraged. Knowing this they constructed their business plan moving forward deliberately with what they were doing. These are the same people who charge fairly large closing costs, points , 16% interest rates,$35 late fees as standards. The market must adjust and we can not stop that innevitability. Never reward bad business practices, and poor responsibility. Don't increase spending. Thanks Tom
Why didn't Congress consider offering low intrest 15 to 30 year loans at a fixed rate that these home buyers could afford so they would be able to stay in their homes making the payments instead of being forced to deal with foreclosure? Isn't it better to receive something at a smaller profit than nothing at all? We are surprised, this should have been the top priority to try and consider first. Also, where do these CEO's get away with receiving such huge multimillion dollar payoffs? The CEO's should not have been given a dime!
No society has ever taxed themselves into prosperity. The bailout will only increase taxes on the already overtaxed.
A RESOUNDING NO to the bailout. I might not be so upset about this if there was no pork in the bill, but there's plenty, and it isn't going to stimulate the economy one iota. In the meantime I sure hope that China doesn't call in the chips, because if they do, WE ARE DEAD MEAT!
Vote NO on the stimulus Mr. Mc Clintock. We voted you in because you are fiscally responsible. Pleast stay that way despite the pressure to do otherwise.
Jon,
That's right - I mean except for the Swedes, Finns, Icelanders... and most of Western Europe. Or perhaps by prosperity you mean something other than a higher standard of living, longer life span, shorter work week and safer food. You probably mean that no society has ever produced prosperity for the top 1% by taxing those 1%. After all, that 1% certainly deserves to control more wealth than than 90% of the rest of America! They worked really, really hard and stuff, whereas that other 90% are probably all on welfare or playing video games. I'm sure that if we got rid of government entirely, those extremely productive 1% would probably control even more of the assets. Why look at how wealthy people are in Somalia where they don't have a government getting in their way of being productive.
I am astounded that the man who boasted that he was the one candidate that opposed the "rush to judgement" in the "run up to the war" and accused President Bush of deceiving the American people in the interest of promoting a war that was predicated on misinformation of WMD is now using the very same strategy to rush a "solution" to a crisis of money.
The risk of 500,000 more lost jobs next month is forcing us to this pork infested dishonest bill.
Public policies that have been debated for the past decade are in one fell swoop decided on grand scale without any further discussion in this bill. This is abuse of power of the most sinister type. When the democrats finally win unfettered control, their first action is to call this bill a stimulus package and then tuck in all of their other failed policy attempts from the 90's like in health care, education, etc. This bill should be called the liberalization of America act.
Why does it take 900 pages to explain the spending? Because included is not just the spending to help the economy, but there is buried in there policies such as electronic medical records for all, with access by 600,000 "authorized" potential viewers of our personal medical issues. (So much for the supposed right of privacy use to justify a woman's "right" to choose.)
I have never felt so betrayed by any authority figure than the way I feel today. The new President promised an open administration, but this rush to get this bill is so clandestine I am ill. Shear hypocrisy!! Does he really think this isn't Washington-as-usual."
Tom, thank you for your stand. Please expose the pork and the lack of respect for public debate of policy.
I understand the phones were 99 to 1 against the bill today from the public. Do the democrats just assume that was an a phony reflection of loud losers and that the winners had it in the bag so didn't bother to call?
I do accept that large sums MAY be needed to assist the economy if targeted appropriately. Why not pass that as one bill and the other raft of legislation be saved for another round? BECAUSE THE PRESIDENT IS GUILTY OF THE SAME RUSH TO HIS AGENDA THAT HE ACCUSES PRESIDENT BUSH OF DOING and no one seems to see the hypocrisy in the media.
When will we begin to payback the stimulus' packages? I asked Obama and he will not answer. I think 90% to 95% is a good guess of the taxes that we will pay. When do we pay?
Passing this stimilus package is a grave mistake. By the time the media and politicians find out about a problem it is too late for an intervention. Let the market fix it's self. The only role the governent should play is reduction of taxes to businesses especially small businesses. The biggest employeer of jobs is small business. It is easier for small business to double in size than government or big business. The only option for an stimulous package is reduction in taxes for small business. This will never happen because there is no power in tax reductions. I am reassured to have Tom McClintock representing us in Washington. Please don't give in to your conscience.