McCain urges Bush to bypass Congress

reply to post by Bunch


You choose to interpret it that way. Like you said checks and balances. If Congress feels he or Bush has violated the Constitution, they have the power to impeach and remove. Likewise if they feel an executive order is overreaching they have the power to write legislation to correct the wrong. McCain can't take us to war with IRAN without congressional approval. and if he tries Congress has the power to say no.

For so many violations Bush has been accused of, I am surprised Congress hasn't done its Constitutional duty to verify those accusations. If there is enough evidence impeach. If not then set the facts straight.

Originally posted by TheRedneck
But this thread, this story has something much more sinister than any of the above comic activities: The Executive Branch is not more powerful than the Legislative.

Hammer, nail, head, direct hit.

We are starting to see the consequences of what has been building all during the Bush Regime:

The Executive Branch has usurped massive authority that it does not have.

The 'Justice' Dept. has been totally corrupted and is useless at enforcing laws that are inconvenient to their interests.

The Judicial branch is largely a rubber stamp for the Executive power grab.

Congress is so much broken wind and also useless.

'Terrorism' is an accepted excuse for dismissing all manner of Constitutional restrictions on government.

Elections in the US resemble the best the 3rd World has to offer, and are largely useless.

The 'news' media has been bought and paid for, which ensures that such people as Ron Paul are marginalized and ignored. No matter how many people write in Ron Paul, he will not be elected (see above re: elections).

One thing for sure, it is definitely interesting to be around during the implosion of a once-great Republic into a full-fledged Plutocracy.

Originally posted by budski
reply to post by jam321

 

Derivatives market = biggest con ever perpetrated on the US citizens, made legal by bush&co.

I disagree; I think it may be the biggest (financial) con ever perpetrated on the WORLD.

Other than that... I can't argue.

It occurs to me though that we remain negligent in pointing out that it isn't the candidates that are bought and sold.... it's the parties themselves. The parties create and destroy heroes and villains the same way that Pro-Wrestling does. It's a show.

Rarely does a candidate command enough respect in the party to actually 'steer' it's course. Neither of these are that kind of candidate.

I expect that from a "traitor"

Here's another article.

McCain urges Treasury Department to take action

Republican presidential nominee John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen.

Opening a business round-table Tuesday in Des Moines, Iowa, McCain said he has urged the Treasury to use its exchange stabilization fund "as creatively as possible" to backstop the market crisis. He says officials also should use the authority granted in a housing bill to purchase up to a trillion dollars in mortgages.

Not only does he want to circumvent congress, but he also wants to raise the ante to $1 trillion!

Seems to me like most of the time his answer to a problem is "MORE" of something.

In this case, since everyone else in Washington says $700 billion will help fix the problem, he wants $1 TRILLION!

This is another problem I see with McCain, in my opinion, he just seems to jump into everything head first without first testing the waters, seeing if there are other options, thinking about what "The People" want, or even caring about anybody elses opinion but his own.

It just doesn't seem like the man thinks things out all the way! (i.e., how are we going to pay this debt, what will it do to the dollar?)

There seems to be no diplomacy or reasoning with the man.



[edit on 10/1/2008 by Keyhole]

reply to post by budski


Obama has similar pattern. I am starting to feel you don't have a dog in the race but you want a certain dog to win. That's cool.

But it is what it is. Both candidates want this legislation to pass. People don't. Both have offered all kind of suggestion. Both are saying they are protecting Main Street not wall street. Both rake in lots of money from these corporations you mention. Both are two peas in a pod.

Like I said if Obama had suggested this many of these comments would be calling for a national holiday.

Take a good look at what the next 4 years of America will look like if this man is allowed to take office. Strangely familiar to how I remember the last 8, actually.

Originally posted by budski


McCains top contributors 2008 election cycle:

Merrill Lynch $298,413
Citigroup Inc $269,251
Morgan Stanley $233,272
Goldman Sachs $208,395
JPMorgan Chase & Co $179,975
AT&T Inc $174,487
Blank Rome LLP $150,426
Credit Suisse Group $150,025
Greenberg Traurig LLP $146,787
UBS AG $140,165
PricewaterhouseCoopers $140,120
US Government $137,617
Bank of America $129,475
Wachovia Corp $122,846
Lehman Brothers $117,500
FedEx Corp $113,453
Gibson, Dunn & Crutcher $104,250
US Army $103,613
Bear Stearns $99,300
Pinnacle West Capital $97,700

source

I don't know about you, but I see a bit of a pattern here.

If you're gonna post this then be fair.

Obama's Top Contributors

Goldman Sachs $691,930
University of California $611,207
Citigroup Inc $448,599
JPMorgan Chase & Co $442,919
Harvard University $435,769
Google Inc $420,174
UBS AG $404,750
National Amusements Inc $389,140
Microsoft Corp $377,235
Lehman Brothers $370,524
Sidley Austin LLP $350,302
Moveon.org $347,463
Skadden, Arps et al $340,264
Time Warner $338,527
Wilmerhale Llp $335,398
Morgan Stanley $318,070
Latham & Watkins $297,400
Jones Day $289,476
University of Chicago $278,885
Stanford University $276,038

Source

They're all in on it. Washington D.C is a playground for making money anyway you can. Do you really think the politicians go into politcs for the people.

There's money to be made and we are the gold.


Mod Edit: External Source Tags Added – Please Review This Link.

[edit on 10/2/2008 by Hal9000]

reply to post by Keyhole

Not only does he want to circumvent congress, but he also wants to raise the ante to $1 trillion!

How is it circumventing Congress when it is already authorized by Congress?

Can't argue with you about raising the ante by 300B.

Furthermore urging and demanding are two different things. McCain can urge all day long, doesn't mean the treasury has to do it. He is presenting another option.

options

1) do what people want -nothing

2) wait on Congress

3) what McCain urges

4) 2 Democrat members plan

5) do what Newt suggests

6) do what 200 plus economist suggest

Does anybody know of anything else that has been suggested so far?

reply to post by jam321


He may have a similar pattern, but if you look at the link there are some very big differences.

Plus Obama hasn't publicy called for congress and the people to be circumvented by using a loophole which was designed for something else entirely than bailing out corrupt and reckless financiers.

Regardless of which, obama and what he may or may not have wanted is not what this thread is about.

I appreciate your thoughts, but I think we need to keep on topic

reply to post by budski


since when was McCain contribution a part of the topic. Your a fine one to be speaking about keeping on topic.

Now on topic tell me how he has circumvented Congress by suggesting to the the treasury to do what Congress has authorized?

Originally posted by jam321

How is it circumventing Congress when it is already authorized by Congress?

If I have the right piece of legislation, Federal Housing Finance Regulatory
Reform Act of 2008, it specifically says it does not allow bailouts to lenders!

Federal Housing Finance Regulatory Reform Act of 2008

2. No investor or lender bailout. Investors and/or lenders will have to take significant losses in order to benefit from the proceeds of the loans refinanced with government insurance. However, these losses would be less than the losses associated with
foreclosure.
******SKIP******
Program Oversight

The new program will be overseen by a Board made up of the Secretary of HUD, the
Secretary of the Treasury, the Chairman of the Federal Reserve Board, and the
Chairman of the Federal Deposit Insurance Corporation (FDIC). The Board will have the authority to develop standards within the framework of the legislation. Eligible Borrowers. Only owner-occupants who are unable to afford their mortgage payments are eligible for the program. No investors or investor properties will qualify. Homeowners must certify, under penalty of law, that they have not intentionally defaulted on their loan to qualify for the program and must have a mortgage debt to income ratio greater than 31 percent as of March 1, 2008. Lenders must document and verify borrowers’ income with the IRS.

If this is the piece of legislation that McCain is talking about, it wasn't set up to bailout the lenders, but help homeowners with their mortgages!

If a homeowner is in trouble and facing foreclosure, this piece of legislation was designed so the government could buy there mortgage from the lender and then the government would lower their monthly payments!

It wasn't designed to provide a massive bailout for the lenders, but a way for homeowners to get lower monthly mortgage payments if THEY requested help from the government!

[edit on 10/1/2008 by Keyhole]

Amongst all the arguments about who wants what when where how and why, what this video tells me is, that McCain is telling everyone, if this bill does not pass, we are going to do it anyhow, and this is how we are going to do it, talk about repeatedly slapping you in the face.

Its obvious these people think pork bellies are more important than people.

Go take back your Capital, Give immunity to those who where ordered to do this, in exchange for the real culprits, put them on trial, and stick them where they belong, same place as other treasonous Bastards and for the rest of their lives, then take down those who are supposed to be your voice, but instead have become your destruction.

Before the though, go and ask your Children, do they want to be in debt before they have even arrived to high school, if they don't have much of a future, how can you expect them to work for a career?

Your Children become what you are, remember that.

Originally posted by NGC2736
And this mindset, that the will of the people doesn't matter and that the elitist should be in control because the citizenry is stupid, is the main reason this man should never reach the White House, IMO.

If he thinks it's OK this time, then just like Bush, whenever he doesn't get his way in the future, he'll try to find a loophole to dodge the will of the people. Such concepts of bulldozer leadership are the reason, IMO, that our nation is in such shambles.

All I can say to that is WELL SAID and AMEN >.(you got a star from me too lol)

Here's some more about this legislation that McCain feels gives them "the authority granted in a housing bill to purchase up to a trillion dollars in mortgages".

Federal Housing Finance Regulatory Reform Act of 2008

This legislation would make a number of changes in federal housing policy. It would:

• Establish a single regulator—the Federal Housing Finance Agency (FHFA)—for government-sponsored enterprises (GSEs) involved in the home mortgage market. GSEs are privately owned, Congressionally chartered financial institutions created to enhance the availability of mortgage credit. The GSEs that would be regulated by FHFA include the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Banks (FHLBs).

• Require Fannie Mae and Freddie Mac to annually pay amounts equal to 4.2 basis points on each dollar of unpaid principal balance of each enterprise’s total new business purchases (that is, 4.2 cents per $100 of the value of the new mortgages purchased or securitized in that year). These assessments would begin during fiscal year 2009 and would be deposited into new federal funds.

• Authorize—from October 1, 2008, through September 30, 2011—a new mortgage guarantee program under the Federal Housing Administration (FHA) that would allow certain at-risk borrowers to refinance their mortgages after the mortgage holder (lender or servicer) agrees to a write-down of the existing loan (that is, a 2 reduction in the amount of loan principal). A portion of the GSEs’ assessments would be used to pay the cost of this new program.

• Require loan originators to participate in a Nationwide Mortgage Licensing
System and Registry (NMLSR) that would be administered by either a nonfederal entity or the Department of Housing and Urban Development (HUD) in coordination with the federal banking regulatory agencies.

• Authorize the appropriation of such sums as are necessary for the Treasury Department’s Office of Financial Education to provide grants to state and local governments, Indian tribes, and other entities to support financial education and counseling services.

The way I'm understanding this legislation is that it is there for the homeowner if they need financial assistance, not the lenders or mortgage companies!

Again, McCain hasn't EXACTLY stated what piece piece of legislation he was reffering to, but I think this is the one!

[edit on 10/1/2008 by Keyhole]

Originally posted by Keyhole
Here's another article.

McCain urges Treasury Department to take action

Republican presidential nominee John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen.

Opening a business round-table Tuesday in Des Moines, Iowa, McCain said he has urged the Treasury to use its exchange stabilization fund "as creatively as possible" to backstop the market crisis. He says officials also should use the authority granted in a housing bill to purchase up to a trillion dollars in mortgages.

[edit on 10/1/2008 by Keyhole]

Guys, I'm not seeing where you are making the connection.

How does: "John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen."

translate to: "John McCain is urging Bush to bypass Congress and get the financial bailout bill pushed through."

How do we know specifically that this is what was meant? Has he come out anywhere and said, specifically and I mean SPECIFICALLY that Congress should be bypassed? Anywhere at all that you can link to?

Originally posted by Keyhole
Again, McCain hasn't EXACTLY stated what piece piece of legislation he was reffering to, but I think this is the one!

[edit on 10/1/2008 by Keyhole]

That's what I'm talking about RIGHT THERE. This is how the Decision 2008 boards got to be so polluted with crap before the site issued aggressive posting standards there. We need to know EXACTLY which measure or bill McCain is talking about before we start flaming, otherwise we're trolling.

I'll see if I can find more on this also. One thing you can be sure of - if McCain did mean to talk about the bailout bill, and he did mean to suggest that Bush bypass Congress, and it can be proven, then he just finished his political career and I think he would know that. The man isn't stupid.

[edit on 1-10-2008 by sos37]

reply to post by sos37


Since when did any politician say exactly what they were referring to?

Personally, I think it's pretty clear from the information posted in this thread, especially this:
"Republican presidential nominee John McCain is urging the Treasury Department to intervene aggressively to limit damage from the financial meltdown, action that McCain says President Bush can take with the stroke of a pen.

Opening a business round-table Tuesday in Des Moines, Iowa, McCain said he has urged the Treasury to use its exchange stabilization fund "as creatively as possible" to backstop the market crisis. He says officials also should use the authority granted in a housing bill to purchase up to a trillion dollars in mortgages."

Now if that isn't saying to circumvent congress, I don't know what is - are there a whole bundle of bills to allow the treasury to buy mortgages?

It's alright obfuscating, and talking about "trolling" but for me it's pretty clear.

It's also pretty clear there is very little flaming going on.

McCains total disregard for congress and the electorate is also pretty clear.




[edit on 1/10/2008 by budski]

Here is a link to what I'm assuming is the vid since the original is no longer availible.



-Jimmy

Great, not even in the White House yet and he thinks his decisions should be the ones we support, above what Congress as a whole or the people say. For someone who doesn’t want to be considered Bush JR, the sequel, this guy is playing into his opponent’s arguments more and more.