I will write more extensively on this subject over the weekend however I just want to offer some info for those wondering who to vote for on November 4th. One easy thing to do is vote against elected officials who violate their oath of office – going against the united States Constitution and/or your particular state’s Constitution.
I bring this up as this huge bailout, if it passes this afternoon, is going to bury us. We will blame each and every U.S. Senator & U.S. Representative. They should be stripped of their offices ASAP.
If you weren’t disgusted with the actions of several senators this week, then you should be. You should be equally disgusted with each and every YES vote for the bailout and you should actively work to remove those individuals from office. They certainly are NOT acting honorably and are not worthy to use the title, “The Honorable”.
I have heard only a few today that are planning to vote against it. I hope others vote with reason rather than pressure from others.
The only presidential candidate that I am aware to have come out against the bailout is Libertarian Party presidential nominee Bob Barr (www.bobbarr2008.com).
Here are some examples:
Bob called it the “bailout from Hell” on Neil Cavuto: http://www.youtube.com/watch?v=1nXK9LR-_6o&feature=PlayList&p=F9645DAC300F9C2A&index=8
Bob accurately predicted future bailouts: http://www.youtube.com/watch?v=PQ2J2Bf5nHc&feature=PlayList&p=F9645DAC300F9C2A&index=2
Bob on the general bailout situation: http://www.youtube.com/watch?v=t5waL8brexY
Editorial in Washington Times: No More Government Guarantees
Atlanta, GA – “Sen. John McCain claims he can provide leadership, but he panicked in the face of cries that the sky is falling from Wall Street investors who made bad investments, and the taxpayers are going to pay over $700 billion for his lack of leadership,” says Libertarian Party Presidential Nominee Bob Barr.
“Sen. McCain claims he will change Washington by eliminating ‘earmarks’, but he just voted for more than $103 billion dollars of bold-faced earmarks,” says Barr.
“Sen. McCain claims he will change the way things are done in Washington, but he railroaded a $700 billion Wall Street bailout through the Senate with no study or debate, no alternative and no special interest left behind,” Barr continues.
“Sen. McCain claims he can act in a bipartisan manner, but his actions on the Wall Street bailout bill shows he acts in a bipolar manner,” says Barr.
Libertarian Party presidential candidate Bob Barr represented the 7th District of Georgia in the U. S. House of Representatives from 1995 to 2003.
Atlanta, GA – “The Senate is set to vote on the Wall Street bailout later today, but the attempt to dress up this bad bill with a few more political goodies is like putting lipstick on a pig,” notes Bob Barr, the Libertarian Party candidate for president. “Yet Senators John McCain and Barack Obama, as well as the congressional leaders of both parties, are all backing the bailout. It is evident that there is not a dime’s worth of difference between the two major parties: Neither of them will stand up for the taxpayers,” observes Barr.
“The Senate bill is even less responsible than the House measure,” warns Barr. “It would more than double federal insurance coverage of bank deposits, even though the vast majority of Americans already are protected. Some supporters are hoping to add tax measures and increase unemployment insurance benefits in an attempt to turn the bailout into a special interest Christmas tree. In the mind of Washington politicians, $700 billion isn’t a large enough bill to stick to the American people,” notes Barr.
“Although Sen. McCain likes to pose as a defender of the taxpayers, he is pushing the Bush administration to further intervene in the credit markets and to purchase up to a trillion dollars worth of private mortgages even without Congressional action,” Barr observes.
“Sen. McCain says we should call the bailout a ‘rescue.’ But regardless of what they call it, the bill remains a trillion dollar or more effort by the federal government to bailout private industry,” says Barr.
“We need a market work-out, which includes encouraging private investment purchases of assets that both McCain and Obama claim have value if taxpayers buy them. We need to let the business processes work, including receiverships and bankruptcy liquidation,” Barr explains.
“To prevent a reoccurrence of this financial crisis, we need federal fraud prosecution—not a government bailout,” says Barr. “The starting point for this painful adjustment process is for Wall Street to understand that there will be no further bailouts. Then, Congress should get to work addressing issues such as scrapping harmful federal regulations like ‘mark-to-market’ accounting standards, which have helped turn serious, but manageable, losses into a full-fledged economic crisis.”
“We need political change,” Barr notes. “But Senators Barack Obama and John McMain have proved yet again that, despite their rhetoric, they are charter members of the Washington establishment. It is not change that they will give us, but more of the same. Only a vote for Bob Barr and the Libertarian Party will yield the change that the American people so desperately want and deserve,” Barr concludes.