Kucinich says the votes AREN'T THERE for passage of the bailout !

[Dover]

Kucinich says not enough votes for bailout
By Kevin Bogardus
Posted: 09/28/08 03:31 PM
A prominent liberal Democratic lawmaker said Sunday there are not enough votes to pass the bailout package as it stands now.

“I will tell you right now I don’t know if they have votes,” said Rep. Dennis Kucinich (D-Ohio). “If the votes were there, this would be on the floor. The votes aren’t there.”

Kucinich was about to enter a Capitol building meeting room with fellow House Democrats who have been critical of the $700 billion relief measure for the Wall Street crisis...>

http://thehill.com/leading-the-news/kucinich-says-not-enough-votes-for-bailout-2008-09-28.html

--------

Kucinich Opposes Bailout and asks, "Is this the United States Congress or the board of directors of Goldman Sachs?"


WASHINGTON, D.C. (September 28, 2008) -- Congressman Dennis Kucinich (D-OH) today made the following speech on the floor of the House of Representatives regarding the proposed Wall Street bailout:

"The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.

Why aren't we having hearings on the plan we have just received? Why aren't we questioning the underlying premise of the need for a bailout with taxpayers' money? Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren't we asking Wall Street to clean up its own mess? Why aren't we passing new laws to stop the speculation, which triggered this? Why aren't we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

"Why aren't we helping homeowners directly with their debt burden? Why aren't we helping American families faced with bankruptcy. Why aren't we reducing debt for Main Street instead of Wall Street? Isn't it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls...>

http://www.opednews.com/articles/Kucinich-Opposes-Bailout-a-by-Dennis-Kucinich-080928-572.html

[buddysmellgood]

1. Why indeed. It's 9-11 all over again.

[scarletwoman]

2. Keeping my fingers crossed! Go Dennis! (nt)

[liberalmuse]

3. Thank god for Kucinich.

I wish people in Congress would listen to him. :(

[Eurobabe]

4. K & R

My retiree mother wants to know the same thing.

[Poseidan]

5. apparently,

It seemed like a huge scam at first because Paulson doesn't know anything about government. How is the treasury secretary supposed to conduct a bail-out properly, if he knows nothing about the government side of his job?

[kirby]

6. Prepare to Eat Crow, Dennis n/t

[still_one]

12. I agree. If it doesn't pass we will go into a complete financial collapse

due to loss of liquidity

Perhaps people haven't been paying attention, but there was a run on Washington Mutual because of lack of liquidty

There was almost a run 8 days ago on the oldest money market account

I am not sure if people have an appreciation for what loss of liquidity means

It means that any business that obtains its inventory through credit is finished. That in turn would lead to massive job losses

It also means money will become extremely tight, and those that need loans either for personal or business use can forget it

A economic depression is something we do not want to see

[FrenchieCat]

18. You are right.....

but many don't understand this....but they do understand that they've been lied to.

So I understand.

Perhaps because I deal in the Financial services business, I see how we will fall apart...

which is why ALL of the Investment banks have gone under. That just didn't happen as staging.

But what do you do, when folks think they know about what they don't know? Wait till they no longer have a job and say.....Told you so? I doubt this will provide any relief. Certainly, some folks don't think that they have anything to lose; but that's too simple, isn't it?

[boomerbust]

27. Why is Goldmann

Buying 50 billion in bad loans right before the bailout? It seems like this is all being orchestrated for Goldmann Sachs.

[eridani]

24. The legislature should directly control any injections of liquidity--

--and not hand the process over to the same people who caused the problem.

[Dr.Phool]

43. I have plenty of liquidity. I went to the liquor store today.

The problem is not liquidity, it's trust. There is plenty of liquidity. Look at the 3 month treasuries today. They're bid down to about 3/4 of a point. Last week, they were actually paying negative interest, as people were looking for SECURITY.

As long as nobody knows what Wall Street's paper is actually worth on the market, nobody should buy them, especially taxpayers. They want us to pay top dollar for garbage that they can't sell anywhere.

There's plenty of money out there, they just don't trust these bastards enough to let them get their hands on it.

NO FUCKING BAILOUT!!! And I understand.

[kirby]

37. Accept my Apology, Dennis, you were right n/t

[bobbolink]

44. Thank you. It's not often someone returns after making such a judgment, and acknowledges it

I salute you. :patriot:

[BlooInBloo]

7. (shrug) He also says he talks to aliens....

We'll see tomorrow if he's right about this one.

[Demit]

10. LOL! You're embroidering. I think he said only that he saw a UFO.

[BlooInBloo]

11. (a) I don't think "embroidering" means what you think it means...

(b) I'm not embellishing in the least: http://tpmelectioncentral.talkingpointsmemo.com/2007/10/kucinich_had_a_ufo_encounter_according_to_friend_shirley_maclaine.php

(c) The notion that it's oh-so-much better if he "just" sees alien spaceships, as opposed to talking to them is laughable.


EDIT: I stand corrected on (a). The rest stands, however.

[Demit]

13. He didn't say he saw an alien spaceship. He said he saw a UFO. Why don't you look up

what that means, while you have your dictionary open.

[reggie the dog]

15. he said he saw a UFO

lots of people have seen them, the French goverment even has an official website listing all the UFO sitings that have not been debunked and are still mysteries. http://www.cnes-geipan.fr/ it is run by top French scientists.

Seeing lights in the sky and talking about them even though people will say you are crazy is a lot like having "too far left" ideas for the USA (which would pass as a moderatly left social democrat in the E.U.) and speaking your mind.

[ForeignSpectator]

20. He saw a UFO which is nothing more than "unidentified"...

That is a reply I would have expected from the "liberal" media actually...false and pretty dumb.

[FREEWILL56]

33. So bush talks to God or so he says.

I also believe DK said he saw a UFO and I never heard once that he said he talked to little green men. Maybe you are listening to some yourself? By this you give credence to wall street and bush? The problem is the democratic party isn't listening to Dennis as they have other agendas going similar to the repukes and is why these treasonish, lieing, pieces of crap in control of our government aren't being held accountable for their actions. I haven't heard nothing about the crimes of this current administration being addressed if a dem gets the 2008 presidency and it has been squashed up until now even though dems are majority holders.
What difference does it make to workers if they have a job and their tax dollars go to the wealthy rather than to proper government functions, whatever the hell that is anymore, and inflation has eaten up all they earn? Slave labor or unemployment. I pick unemployment and let those bastards fall as they should with government finally doing their job rather than catering to this crowd of the arrogant, rich, and powerful.
And they wanted my retirement money where? Scare tactics to make us bow to them don't fly with me.

[mike_c]

40. I think you are a liar....

Prove that Kucinich "says he talks to aliens." I think YOU talk out of your ass. Stop spreading utter bullshit if you can't support it.

[ShortnFiery]

8. I hope Dennis Kucinich is right. He has my utmost respect - a man of integrity. eom

[Runcible Spoon]

9. THANK YOU Dennis, a (the only?) true voice for the working class of this country

:applause:

[Hardrada]

14. Gott sei Dank!!

[pokerfan]

16. "Is this the United States Congress or the board of directors of Goldman Sachs?"

Wow. Maybe we will get a floor debate instead of all this secret board meeting crap.

You know, democracy.

[Norrin Radd]

kr

[TxBlue]

17. Kick

[Undercurrent]

19. Banks, and the executive branch are both run by crooks

This whole debacle has made me very uneasy from the jump. It doesn't pass the smell test.

I don't know much about the banking system except for a decent overview of the history of the US and European banking barons, the creation of the Federal Reserve, and later substitution of a fiat currency for the gold backed greenback. But when you throw in predatory practices, usury, money laundering, and war profiteering you end up with an organized criminal enterprise. A mafia clone run amok on a global scale.

I have zero trust in the bankers, and less than zero trust in the scum-of-the-earth Bush gang. I do trust Denise Kucinich. I'll take his word on this.

[Dover]

21. List of Economists Against the Bailout

The 'experts' that aren't as likely to be seen or heard in the MSM

http://faculty.chicagogsb.edu/john.cochrane/research/Papers/mortgage_protest.htm


To the Speaker of the House of Representatives and the President pro tempore of the Senate:

As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America's dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.



Signed (updated at 9/25/2008 8:30AM CT)

Acemoglu Daron (Massachussets Institute of Technology)
Adler Michael (Columbia University)
Admati Anat R. (Stanford University)
Alexis Marcus (Northwestern University)
Alvarez Fernando (University of Chicago)
Andersen Torben (Northwestern University)
Baliga Sandeep (Northwestern University)
Banerjee Abhijit V. (Massachussets Institute of Technology)
Barankay Iwan (University of Pennsylvania)
Barry Brian (University of Chicago)
Bartkus James R. (Xavier University of Louisiana)
Becker Charles M. (Duke University)
Becker Robert A. (Indiana University)
Beim David (Columbia University)
Berk Jonathan (Stanford University)
Bisin Alberto (New York University)
Bittlingmayer George (University of Kansas)
Boldrin Michele (Washington University)
Brooks Taggert J. (University of Wisconsin)
Brynjolfsson Erik (Massachusetts Institute of Technology)
Buera Francisco J. (UCLA)
Camp Mary Elizabeth (Indiana University)
Carmel Jonathan (University of Michigan)
Carroll Christopher (Johns Hopkins University)
Cassar Gavin (University of Pennsylvania)
Chaney Thomas (University of Chicago)
Chari Varadarajan V. (University of Minnesota)
Chauvin Keith W. (University of Kansas)
Chintagunta Pradeep K. (University of Chicago)
Christiano Lawrence J. (Northwestern University)
Cochrane John (University of Chicago)
Coleman John (Duke University)
Constantinides George M. (University of Chicago)
Crain Robert (UC Berkeley)
Culp Christopher (University of Chicago)
Da Zhi (University of Notre Dame)
Davis Morris (University of Wisconsin)
De Marzo Peter (Stanford University)
Dubé Jean-Pierre H. (University of Chicago)
Edlin Aaron (UC Berkeley)
Eichenbaum Martin (Northwestern University)
Ely Jeffrey (Northwestern University)
Eraslan Hülya K. K.(Johns Hopkins University)
Faulhaber Gerald (University of Pennsylvania)
Feldmann Sven (University of Melbourne)
Fernandez-Villaverde Jesus (University of Pennsylvania)
Fohlin Caroline (Johns Hopkins University)
Fox Jeremy T. (University of Chicago)
Frank Murray Z.(University of Minnesota)
Frenzen Jonathan (University of Chicago)
Fuchs William (University of Chicago)
Fudenberg Drew (Harvard University)
Gabaix Xavier (New York University)
Gao Paul (Notre Dame University)
Garicano Luis (University of Chicago)
Gerakos Joseph J. (University of Chicago)
Gibbs Michael (University of Chicago)
Glomm Gerhard (Indiana University)
Goettler Ron (University of Chicago)
Goldin Claudia (Harvard University)
Gordon Robert J. (Northwestern University)
Greenstone Michael (Massachusetts Institute of Technology)
Guadalupe Maria (Columbia University)
Guerrieri Veronica (University of Chicago)
Hagerty Kathleen (Northwestern University)
Hamada Robert S. (University of Chicago)
Hansen Lars (University of Chicago)
Harris Milton (University of Chicago)
Hart Oliver (Harvard University)
Hazlett Thomas W. (George Mason University)
Heaton John (University of Chicago)
Heckman James (University of Chicago - Nobel Laureate)
Henderson David R. (Hoover Institution)
Henisz, Witold (University of Pennsylvania)
Hertzberg Andrew (Columbia University)
Hite Gailen (Columbia University)
Hitsch Günter J. (University of Chicago)
Hodrick Robert J. (Columbia University)
Hopenhayn Hugo (UCLA)
Hurst Erik (University of Chicago)
Imrohoroglu Ayse (University of Southern California)
Isakson Hans (University of Northern Iowa)
Israel Ronen (London Business School)
Jaffee Dwight M. (UC Berkeley)
Jagannathan Ravi (Northwestern University)
Jenter Dirk (Stanford University)
Jones Charles M. (Columbia Business School)
Kaboski Joseph P. (Ohio State University)
Kahn Matthew (UCLA)
Kaplan Ethan (Stockholm University)
Karolyi, Andrew (Ohio State University)
Kashyap Anil (University of Chicago)
Keim Donald B (University of Pennsylvania)
Ketkar Suhas L (Vanderbilt University)
Kiesling Lynne (Northwestern University)
Klenow Pete (Stanford University)
Koch Paul (University of Kansas)
Kocherlakota Narayana (University of Minnesota)
Koijen Ralph S.J. (University of Chicago)
Kondo Jiro (Northwestern University)
Korteweg Arthur (Stanford University)
Kortum Samuel (University of Chicago)
Krueger Dirk (University of Pennsylvania)
Ledesma Patricia (Northwestern University)
Lee Lung-fei (Ohio State University)
Leeper Eric M. (Indiana University)
Leuz Christian (University of Chicago)
Levine David I.(UC Berkeley)
Levine David K.(Washington University)
Levy David M. (George Mason University)
Linnainmaa Juhani (University of Chicago)
Lott John R. Jr. (University of Maryland)
Lucas Robert (University of Chicago - Nobel Laureate)
Luttmer Erzo G.J. (University of Minnesota)
Manski Charles F. (Northwestern University)
Martin Ian (Stanford University)
Mayer Christopher (Columbia University)
Mazzeo Michael (Northwestern University)
McDonald Robert (Northwestern University)
Meadow Scott F. (University of Chicago)
Mehra Rajnish (UC Santa Barbara)
Mian Atif (University of Chicago)
Middlebrook Art (University of Chicago)
Miguel Edward (UC Berkeley)
Miravete Eugenio J. (University of Texas at Austin)
Miron Jeffrey (Harvard University)
Moretti Enrico (UC Berkeley)
Moriguchi Chiaki (Northwestern University)
Moro Andrea (Vanderbilt University)
Morse Adair (University of Chicago)
Mortensen Dale T. (Northwestern University)
Mortimer Julie Holland (Harvard University)
Muralidharan Karthik (UC San Diego)
Nanda Dhananjay (University of Miami)
Nevo Aviv (Northwestern University)
Ohanian Lee (UCLA)
Pagliari Joseph (University of Chicago)
Papanikolaou Dimitris (Northwestern University)
Parker Jonathan (Northwestern University)
Paul Evans (Ohio State University)
Pejovich Svetozar (Steve) (Texas A&M University)
Peltzman Sam (University of Chicago)
Perri Fabrizio (University of Minnesota)
Phelan Christopher (University of Minnesota)
Piazzesi Monika (Stanford University)
Piskorski Tomasz (Columbia University)
Rampini Adriano (Duke University)
Reagan Patricia (Ohio State University)
Reich Michael (UC Berkeley)
Reuben Ernesto (Northwestern University)
Roberts Michael (University of Pennsylvania)
Robinson David (Duke University)
Rogers Michele (Northwestern University)
Rotella Elyce (Indiana University)
Ruud Paul (Vassar College)
Safford Sean (University of Chicago)
Sandbu Martin E. (University of Pennsylvania)
Sapienza Paola (Northwestern University)
Savor Pavel (University of Pennsylvania)
Scharfstein David (Harvard University)
Seim Katja (University of Pennsylvania)
Seru Amit (University of Chicago)
Shang-Jin Wei (Columbia University)
Shimer Robert (University of Chicago)
Shore Stephen H. (Johns Hopkins University)
Siegel Ron (Northwestern University)
Smith David C. (University of Virginia)
Smith Vernon L.(Chapman University- Nobel Laureate)
Sorensen Morten (Columbia University)
Spiegel Matthew (Yale University)
Stevenson Betsey (University of Pennsylvania)
Stokey Nancy (University of Chicago)
Strahan Philip (Boston College)
Strebulaev Ilya (Stanford University)
Sufi Amir (University of Chicago)
Tabarrok Alex (George Mason University)
Taylor Alan M. (UC Davis)
Thompson Tim (Northwestern University)
Tschoegl Adrian E. (University of Pennsylvania)
Uhlig Harald (University of Chicago)
Ulrich, Maxim (Columbia University)
Van Buskirk Andrew (University of Chicago)
Veronesi Pietro (University of Chicago)
Vissing-Jorgensen Annette (Northwestern University)
Wacziarg Romain (UCLA)
Weill Pierre-Olivier (UCLA)
Williamson Samuel H. (Miami University)
Witte Mark (Northwestern University)
Wolfers Justin (University of Pennsylvania)
Woutersen Tiemen (Johns Hopkins University)
Zingales Luigi (University of Chicago)
Zitzewitz Eric (Dartmouth College)

[4lbs]

23. So, they were against the ORIGINAL bailout bill early last week. The 3-page one.

Any insight on whether they are against this new one that the Dems are happy about?

[tomp]

32. i know every one of them has seen a ufo, so what do they know? nt

[PVnRT]

34. Why don't you count how many on the list are from the U. of Chicago?

Unless you think the Chicago School and St. Friedman are legitimate voices of the left now.

[1]

22. kucinich and betty draper share the same mindset at this moment.

i wish the best for both of them...

[Dover]

25. Don't know how accurate this website is, but it suggests this may go on for a few weeks yet.

Something about waiting for the next one to fall...

http://www.nakedcapitalism.com/2008/09/mussolini-style-corporatism-in-action.html

[Hubert Flottz]

26. Good!

I hope he's right.

[sendero]

28. You can always count on Kucinich...

... to get it.

If we had 100 more like him the country would have a chance.

[riverdeep]

29. These are common sense questions.

The people attacking Dennis are attacking Dennis, and not the actual content of what he's saying. That's revealing.

[ColbertWatcher]

30. Kucinich rocks!

[ColbertWatcher]

31. Kucinich rocks!

[a kennedy]

35. I hope DK is right......

:patriot:

[girl gone mad]

36. C-Span just reported that..

most Republicans are planning to vote against it, forcing Dems to take a politically unpopular vote just weeks before the elections.

[Runcible Spoon]

38. kick this bc. Dennis was right.

[lonestarnot]

41. Dennis be the man!

:applause:

[Norrin Radd]

39. k

[mike_c]

42. Kucinich was right again....

Kicked and recommended.