The House is debating the bailout today, and this time, Our Leaders think it will pass. Well, they thought that before, so a call would not go amiss. I'm about to:
1. Harry Reid loads the bill up with trinkets, and that makes the trillion dollar bailout OK today when it wasn't OK on Monday?
2. If it takes an act of Congress to keep the stock market up, doesn't that mean we have bigger problems that Congress should address? Maybe with hearings?
3. Is there any reason at all to think the bill will work? Since the markets haven't "stabilized" at all? (And what will it take to "stabilize" them, finally? Another trillion? Another after that?
4. HOLC will work, because we buy the asset (the homes and mortgages) instead of the derivatives based on those assets (that's the toxic stuff). But there's no real hope for the homeowners in this bill, and so the crisis will continue (assuming, arguendo, that the whole thing isn't a stage managed "bust out," which is what I believe).
Readers, add your own talking points, and still, MAKE THOSE CALLS!
- lambert's blog
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More from The Hill...
At least 14 members will change their votes on bailout
...
Members who have publicly suggested that they will approve of the new compromise include Democratic Reps. Shelley Berkley (Nev.), Emanuel Cleaver (Mo.), John Lewis (Ga.) and Hilda Solis (Calif.) and Republican Reps. Gresham Barrett (S.C.), Howard Coble (N.C.), Jim Gerlach (Pa.), Tim Murphy (Pa.), Jim Ramstad (Minn.), Ileana Ros-Lehtinen (Fla.), John Shadegg (Ariz.), Lee Terry (Neb.), Patrick Tiberi (Ohio) and Zach Wamp (Tenn.).
All 14 voted no on Monday.
The bill on Monday fell a dozen votes short, but there is concern that some conservative Democrats who voted yes on Monday will vote no on Friday because of tax provisions that are not paid for.
One lobbyist tracking the bill predicted that it will pass, estimating that 230 members will vote yes.
Why don't we just turn the government over to lobbyists.?
Oh, wait.