Senate Blackmail - eh Bailout Today 10/1

God help us!

The Senate is going to push the Bailout by attaching it to another Bill today, and they intend to pass it. The bill they will be attaching it to will be hard pressed to vote down in the House afterwards.

This is a flat out blackmail of the House and the taxpayer. It is suspected that it will be attached to a Bill that provides for tax relief to the masses. Possibly this one. But we aren't sure yet.

www.tickerforum.org...

The Senate-passed bill provides more than $17 billion in renewable energy tax incentives that the solar and wind industries say are crucial if they are to become significant sources of energy in the near future. It renews the research and development tax credit, at a cost of $19 billion, that businesses have come to rely on.

It gives a one-year reprieve, at a cost of $64 billion, to more than 20 million taxpayers who would get hit by the AMT, which is supposed to only affect the very rich. The bill also gives tax breaks to natural disaster victims and ensures mental health parity in health insurance benefits.

The legislation also renews expired, or soon-to-expire, tax breaks for people paying state and local general sales taxes, people with higher education tuition costs, those receiving child tax credits and teachers paying school expenses out of their own pockets.

"These tax measures represent real support for the American families, workers and businesses that need a break now," Senate Finance Committee Chairman Max Baucus, D-Mont., said. "This is must-do legislation," added his GOP counterpart, Charles Grassley of Iowa.

It does seem clear at this point the way they will get this through is by attaching it to a Bill that WILL hurt the taxpayer BIG time if not passed, so they are making it a damned if you do damned if you don't know.

My aren't they clever!

If this isn't blackmail I don't know what is. It is also expected to provide relief to foreign banks which will allow foreign banks with American usubsidiaries to unload their toxic papaer from all over the world directly into our bailout.

See discussion here.

www.tickerforum.org...

That's all I got for now as my time is really limited right now.

Please everyone contributing to this bailout disastor do what you can to get more info ASAP. The Senate does not face the re-election pressure of the House members, but if they send the bailout to the House attached to another Bill, I fear we are going to be hard pressed to stop it.

*hands out the anti-nausea meds*



[edit on 10/1/2008 by Relentless]

[edit on 10/1/2008 by Relentless]

I prefer to think of it as extortion.

www.answers.com...

Columbia Encyclopedia: extortion,
in law, unlawful demanding or receiving by an officer, in his official capacity, of any property or money not legally due to him.

But I am with you 100%. This is insane.

The bottom line is they are refusing to look at alernatives written by Economists, where a real solution can be drawn up, in favor of a bill written by and for the Banks.

There are few Representatives who get it and fewer still who care.

This is such a sad time for our Country, especially because it is going to change the face of it and our Constitution.

reply to post by Relentless


Hmm, the bill mentioned in your first link is HR 6049 which has already passed the House. The senate cannot add that much new legislation to it.

Here is a link to the full text of the Bill AFTER Senate amendments
thomas.loc.gov...:5:./temp/~c110yTPNLl::

The Senate can start a new bill or add this to a Senate bill before it goes to the house, but it can't be added on to something that already came from the house

AGAIN - CALL TO ALL TODAY!

I will not be able to follow this and provide updates today. ANYONE who can watch the taxpayer advocate groups and provide further information and updates, please DO IT.

Thanks!

the Senate package is titled
" Emergency Economic Stabilization Act of 2008"

www.rules.house.gov...


i haven't read it word for word, yet,

because i'm contacting the Senators; Graham & DeMint in my residence state

reply to post by St Udio


Well, as of yesterday afternoon, Graham's staffers seem to believe that he is for the bailout bill. I even faxed their office showing them the portions of the bill allowing the Sec. of the Treasury to buy troubled assets from foreign banks with US tax dollars. Graham's staffers say that the major majority of the they have talked to are not for this bailout bill. DeMint's firmly against this bill, and has been from the beginning. His staff said the amount of email and phone calls are very much against this bill.

Sec. 112, Pg. 32

SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS. The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.

DeMint also said Monday, on Glenn Beck's radio show (I don't have XM radio in my work vehicle :/) That this bill would pass the Senate.

Folks if you haven't contacted your Senator's to express you outrage at this bailout plan, please do so now.

reply to post by St Udio


That's still the already shot down HR 3997. It had a long and varied history

So far I can find th is and thisin the Senate Finance Committee info from Yesterday

The audacity of these people attempting this knowing so many are against it in its current form. Obama and Mccain both working to move the bail out forward. I was certainly thrown off during this election cycle wondering if Barack was the real deal or not; with his strings being pulled like everyone elses here, it's been made clear he's as under control as most of Washington.

I'm absolutely disgusted. We celebrate and cheer when the system works for the people, when that should be a given. And here we are chasing after our elected officials through a red tape maze hoping we aren't betrayed on a regular basis now.

IF anyone finds anything with the Senate Bill Number on it, please post. This is either being tacked on to something else or becoming a brand new bill, but so far I can find NOTHING with the # on it.

I sure would like to read this monster with the new changes even as I am calling, faxing, and emailing my congress critters

While I hate to be a pessimist.., It was clear from the beginning that this was a 'decree' from the the Fed/Treasury cartel - it was bound to happen or be made to happen one way or the other. These people will have their booty and we will be giving it up one way or another.

Congress and the Senate are trying to keep it from being so blatant as to alarm the right-wing base.

Pity, really. It's a clear indication that their scam is collapsing. But they will have their way by fiat and 'politics'; and the media will celebrate the passage to the rubes and hayseeds that they expected all Americans to live down to.

The last line of defense:

There are worries that more conservative House Democrats known as “Blue Dogs” will be repulsed by the tax breaks, and could vote no because they have been saying they don’t want to see the deficit run up even further.

If I were Hank Paulson, I would give some cash to the spammers to join the emailing.

House Republican Whip Roy Blunt said calls and e-mails to congressional offices that were running about 90 percent against the measure earlier now are coming in about a “50-50” pace.

That's what I meant. LOL.

reply to post by stander


Don;t worry, the e-mails they are now saying run in to 50% approve and 50% don't will all disappear when proof is requested. You know how those guys work with e-mails, right?

okay the Economic package has been added on to HR 1424, the Mental Health Parity bill. (can anyone else see the irony here?)

The Series of events for this evening:

-Senator Dodd and others will offer an amendment at the desk (Economic Rescue) with the Leaders approval
- 90 minutes of general debate time on the amendment equally divided
-upon use or yielding back of time, the only other amendment in order will be the Sanders amdt re:tax on high income individuals with 60 minutes of debate with the time equally divided and controlled
- When the Senate disposes of the amdts to H.R.1424, the first vote will occur with respect to the Sanders amdt, upon disposition of that amdt, the Senate then consider the Dodd amdt (60 vote threshold) and the Senate then vote on the bill (60 vote threshold), as amended, if amended

Because they are pushing this through it takes 60 YEA votes

Series of votes to begin around 7:30pm

Now they have tacked on a FAILED bill onto an existing bill, which somehow, someway I think can be shot down, if the Judicial Branch ever actually did their job. I think they could constitutionally create a new bill with the same basic components, but to take a bill that was shot down and add it as an amendment to a pre existing bill is not permitted by the constitution, "All bills for raising Revenue shall originate in the House of Representatives." As a result, the Senate does not have the power to initiate bills imposing taxes. Furthermore, the House of Representatives holds that the Senate does not have the power to originate appropriation bills, or bills authorizing the expenditure of federal funds.

Even more evil, they have added on HORRIFIC Economic stuff to a much needed mental health bill.

Please let us hope that the Rules Committee reviews this bill in the house and throws it out on it's ear. It WILL have to return to the house with this change in it.

reply to post by redhatty


Nicely researched. Thanks for that. Don't forget this little gem about Dodd;

The Royal Bank of Scotland gave nearly a quarter of a million dollars to Senator Dodd

[edit on 1-10-2008 by Maxmars]

reply to post by Maxmars

Thanks. Here's what I have just sent to my Senators

Amendments to HR 1424
Senator_______,

You MUST oppose this legislation with Senator Dodds amendment.

It would be illegal for you to support it.

Our Constitution States:

"All bills for raising Revenue shall originate in the House of Representatives."

As a result, the Senate does not have the power to initiate bills imposing taxes. Furthermore, the House of Representatives holds that the Senate does not have the power to originate appropriation bills, or bills authorizing the expenditure of federal funds.

To try to slip in an amendment of this magnitude (the exact bill that failed in the house) to a piece of legislation that has already gone through the House and the House Rules Committee would only show how much our government cannot be trusted.

If you, as my State Senator, support this travesty of how the American Government is supposed to work, I will personally launch the campaign to have you recalled and prosecuted for your dereliction of Duty to your country, state and constituents.

Sincerely,

If you want to contact your senators....

Contact your Senators

The modification of the bill can hardly change the core opinion. Here is one reason for no-vote:

“We are now in the Gold Age of thieves,” said Rep. Pete Visclosky, D-Ind. “And where I come from we put thieves in jail, we don’t bail them out."

One doesn't have to be a Yale graduate to understand this language.

Now figure this out: There are lawmakers in the House who strongly opposed the measure. What is the chance that they would overlook the instruments that modify the bill in favor of Yea -- like stapling one bill to another, which is not lawful?

I'm hearing the bailout bill is now SIX HUNDRED PAGES LONG according to Bill Nelson (D-FL)'s office.

SIX HUNDRED PAGES LONG!

Originally posted by anachryon
I'm hearing the bailout bill is now SIX HUNDRED PAGES LONG according to Bill Nelson (D-FL)'s office.

SIX HUNDRED PAGES LONG!

Amendment XXVIII

The Congress of the United States shall not introduce a bill of length exceeding The Bill of Rights.