McCain Lies and the Bailout Failure

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McCain Lies and the Bailout Failure

Post  Admin on Fri May 22, 2009 4:14 pm

By: William H. Stewart

McCain was on his campaign plane preparing to leave Ohio when
the House vote became final. McCain's chief economic adviser,
however, issued a statement that blamed Obama.

"This bill failed because Barack Obama and the Democrats put politics ahead of country,"
McCain senior policy adviser Doug Holtz-Eakin said.

When he reached Iowa, McCain told reporters:
"Now is not the time to fix the blame, it's time to fix the problem."
This is a Bush-Texas size whopper lie. Let
me explain. When Senator McCain flew to Washington,
D.C. last week when he said he was suspending his
campaign,he arrived at the hearings,said very little and
then sided with his very conservative Republican colleagues
and demanded less regulation of business and tax
breaks-exemptions for those companies who bought and failed
or failing banks with sub-prime loans. He did not object to the
Republican style Communist take over of private enterprise
nor did he worry or care about rewarding unscrupulous or
stupid behavior by Wall Street executives at citizen's expense.
He sought
to RELIEVE BIG BUSINESS of IT'S FINANCIAL
OBLIGATIONS and REGULATIONS and NEVER ONCE
OBJECTED TO THIS BILL BECAUSE IT IN NO WAY PROTECTED
the INDIVIDUAL TAX-PAYING CITIZEN. This is NOT
PATRIOTISM -this BEING A LAP-DOG SOLDIER FOR RICH
BANKERS,JUST LIKE THE ONES HE ACCEPTED MONEY FROM
in the SAVINGS and LOAN SCANDAL;ie.Charles Keating.
McCain has MORE EXPERIENCE and HAS NOT LEARNED
from any of it. Dogs would remember better
than he because when they are punished they
remember not to make the same mistake. At least,
my dog did. Secondly,the Democrats were not the
ones to blame for this bill not passing;i.e. the
vote was 133 Republicans OPPOSED,65 in FAVOR and
140 Democrats in FAVOR,95 OPPOSED. So how
can McCain blame the Democrats? ONLY BY LYING.

But the Congressmen/women who opposed got it right.
Government should not rescue,coddle and reward BIG,
UNSCRUPULOUS BUSINESS while MAKING CITIZENS PAY for
IDIOCY. The Republicans should look to the Chinese
Communist government as an example: all those people
involved,who made decisions to put melamine in milk
in CHINA WILL BE SEVERELY PUNISHED,NOT RESCUED AND
EXCUSED like this Administration wants us to do.<br>
I want to congratulate Congressmen Tierney,Lynch
and Delahunt in Massachusetts,Congressmen Courtney
in Conecticut,Congressmen Michaud in Maine,Congressmen
Shea-Porter and Hodes in New Hampshire and Congressmen
Welch in Vermont for opposing the bailout as of yesterday.
They had the same courage and foresight as did Senator
Barack Obama when he opposed the War in Iraq.This
administration has cried wolf every time it has either
gotten into trouble or decided it wants to lie to the
American people. When are our Representatives going to
learn this? All their experience,degrees and money
aren't any good if they DO NOT PROTECT and DEFEND the
CONSTITUTION of the UNITED STATES OF AMERICA and the
people who elected them.Obviously,the above named
Congressmen have UPHELD THEIR OATH.

Now let me make some constructive suggestions:

1. REINSTATE the GLASS-STEAGALL ACT in its entirety:
"The Glass-Steagall Act of 1933 established the Federal Deposit Insurance
Corporation (FDIC) in the United States and included banking reforms,
some of which were designed to control speculation.[citation needed]
Some provisions such as Regulation Q, which allowed the Federal Reserve
to regulate interest rates in savings accounts, were repealed by the
Depository Institutions Deregulation and Monetary Control Act of 1980.
Provisions that prohibit a bank holding company from owning other
financial companies were repealed on November 12, 1999, by the
Gramm-Leach-Bliley Act, which passed in Congress with 55 Republicans
voting for and 44 Democrats voting against the bill in the Senate and by a
343-86 vote in the House of Representatives, before being sent to
conference committee; the final bipartisan bill (Senate: 90-8-1,
House: 362-57-15) was signed by President Bill Clinton."

2. CREATE a RESOLUTION CREDIT CORP. that is FUNDED
and OWNED by AT LEAST 50% FINANCIAL COMPANIES and 50%
U.S. Government with hundreds of SEC Auditors auditing continuously
with no possibility of leaving government and working for financial
companies until 4 years has elapsed.

3. AUCTIONING OFF of BANKS with SUB-PRIME MORTGAGE
PROBLEMS to the PRIVATE SECTOR,such as Venture
Capitalist,Private Equity firms,foreign banks in NATO
countries.
4.CREATION of CORPORATE BAILOUT FUND by all
CORPORATIONS with SALES over $100 Million per year
through a 1% of GROSS PROFITS BAILOUT TAX that all
could utilize if a case was made for Uncontrollable
External factors.
5.IMMEDIATE SUSPENSION of NAFTA and WTO RULES
that OVERRIDE the U.S. CONSTITUTION.
6.CREATION of SENATE-CONGRESS OVERSIGHT
COMMITTEE of FEDERAL RESERVE SYSTEM publicly
recognizing it as a private corporation and
publicly disclosing ownership thereof as well
as Annual PUBLIC AUDITS.
In closing let me remind the reader of the Declaration
of Independence and I quote:<br>
"We hold these truths to be self-evident, that all men are created equal,
that they are endowed by their Creator with certain unalienable Rights,
that among these are Life, Liberty and the pursuit of Happiness.
That to secure these rights, Governments are instituted among Men,
deriving their just Powers from the consent of the governed, �
That whenever any Form of Government becomes destructive of these
ends, it is the Right of the People to alter or to abolish it, and to institute
new Government, laying its foundation on such principles and organizing
its powers in such form, as to them shall seem most likely to effect their
Safety and Happiness. Prudence, indeed, will dictate that Governments
long established should not be changed for light and transient causes;
and accordingly all experience hath shewn, that mankind are more
disposed to suffer, while evils are sufferable, than to right themselves
by abolishing the forms to which they are accustomed. But when a
long train of abuses and usurpations, pursuing invariably the same Object
evinces a design to reduce them under absolute Despotism, it is their right,
it is their duty, to throw off such Government, and to provide new guards for
their future security � Such has been the patient sufferance of these Colonies;
and such is now the necessity which constrains them to alter their former
Systems of Government. � The history of the present King of Great Britain
is a history of repeated injuries and usurpations, all having in direct object
the establishment of an absolute Tyranny over these States. To prove this,
let facts be submitted to a candid world."

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