Bank Bailout Vote Comes Back to Haunt Lawmakers Up for Election

WASHINGTON — Struggling to stave off financial catastrophe, the Bush administration on Friday laid out a radical bailout plan with a jawdropping price tag _ a takeover of a half-trillion dollars or more in worthless mortgages and other bad debt held by tottering institutions.

Relieved investors sent stocks soaring on Wall Street and around the globe. The Dow-Jones industrials average rose 368 points after surging 410 points the day before on rumors the federal action was afoot.

A grim-faced President Bush acknowledged risks to taxpayers in what would be the most sweeping government intervention to rescue failing financial institutions since the Great Depression. But he declared, "The risk of not acting would be far higher."

I have voted both Democrat and Republican but what really sent me over the edge last Dec was when the Senator fr NV bribed other elected senators with $10 billion for their health care votes. I first got wind of this practice during the movie Charlie Wilson's war when he was sitting on a committee and took $500 million taxpayer monies to give the Taliban to fight the Russians without a congressional vote, without a President's signature. This practice that members of congress can give out money like it was from their own piggy bank has to stop. No wonder we are in debt. We take in 2 trillion a year in taxes and yet these seantors and congressman are not held responsible for their spending.

Are you sure that the bailout is the reason? I question if it may be the fact that our current legislators have done EVERYTHING wrong and so anyone in office now will be voted out.

The vote to release the TARP funding was pretty much along party lines, with most Democrats voting to release the funding. Below a list of the exceptions.

Nine Democrats voted NOT to relesee the funds: Bayh (IN), Cantwell (WA), Dorgan (ND), Feingold (WI), Lincoln (AR), Ben Nelson (NE), Shaheen (NH), Sanders (VT), Wyden (OR).....................................................................

Six Republicans voted to release the money: Alexander (TN), Gregg (NH), Kyl (AZ), Lugar (IN), Snowe (ME), Voinovich (OH)..........................................

Those above up for re-election in 2010: Bayh, Lincoln, Dorgan, Feingold, Wyden, and Gregg.

Yes we bailout banks for 700 Billion and have a healthcare cyctem very want for 900 Billion but heaven forbid that they pass a 25 Billion dollar law to help those who are unemployed

They should have voted to give the TARP to the VOTERS who VOTED them into office. Karma is something. Isn't it?

What is really interesting about all this is the government will help out the banks and the automakers and such, but the regular slob of a citizen is left to fend for himself. The republicans in the senate refuse to pass UI extentions, which will help those that need help yet they have no problem helping the rich. So if you are unemployed and have to decide whether to eat or go to the doctor you can thank your local republican senator for being a real Anti-American representative. Perhaps it is time that we told our republican senators that we will not vote for them in November. I have already let John McCain and John Kyl know this. I have also let them know that come primary time, I will vote for their opponent. Then come the general, I will vote against the party altogether unless they change quickly.

TARP or not, what makes me angry is that our economy is being dictated by corporate America and banks whose CEO's make mega-million dollar salaries and the rest goes to shareholders. Those are the people we need to hold accountable for our failing economy and loss of jobs due to outsourcing.

Well, well, well!! It appears many of the supporters of the gargantuan bailouts are beginning to get a case of buyer's remorse. Congress has enjoyed carte blanche far too long when it comes to spending program on top of spending program. The national debt has now reached a point at which Democrat, Republican, and Independent voters are downright frightened when they see the amount of our debt. If our country is still standing 75 years from now, our children and grandchildren, and beyond will be saddled with this monster. Congress MUST develop a budget and stick to it. If the money isn't there, there are to be NO new programs. My wife and I would like to buy a new car. We are going to need one in the next year or so because our current vehicle is aging and has high mileage on it. As for now, the payments would be too high. Therefore, we will keep driving the one we have. Congress is addicted to spending and needs to go to rehab to kick the habit. It's that or we will see our whole system collapse under the load of this debt. It's time the voters send a whole lot of our senators and representatives home to stay.

If they gave welfare to the banks the least they could've of done was have a financial panel draw up a criteria that would mandate guidelines for mortagage modification. The banks who took money from us had no mandate to help homeowners and for the most part refuse to do so. There are those who would go into foreclosure no matter what and that's fine. The problem is though there are those who could make it with some help but that's not happening for the most part.