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The color of money
Moments before the House voted on the Emergency Economic Stabilization Act on Friday, House Minority Leader John Boehner, R-Ohio, and House Speaker Nancy Pelosi, D-Calif., each spoke on the floor. The two clash almost constantly, but on this occasion, they were in full agreement on the need for a financial-sector bailout bill.
Boehner urged passage, noting the bill was crafted by “members of both sides of the aisle.” Pelosi then declared that it was “my pleasure to work with Mr. Boehner.”
Their harmony may not last long. Pelosi made it clear that when Democrats return next year, they will begin pushing for passage of new regulations. “This crisis will lead to reforms,” she predicted. Republicans likely will oppose many of them.
But for the moment, they were on the same page. They even looked united. Boehner wore a green necktie and Pelosi wore a green pant suit — perhaps delivering a subliminal message that this vote was all about saving greenbacks.
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The VP debate spin room
Take a spin in the spin room after the vice presidential debate at Washington University in St. Louis.
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Veep Debate Scene
See how the college kids kept themselves busy on vice presidential debate day at Washington University in St. Louis.
And check out the media meat.
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Twisting in the wind at VEEP debate
Some real “power voters” are twisting in the wind at Washington University in St. Louis in advance of tonight’s vice presidential debate.
Members of Power Vote, a non-partisan youth group whose goal is to promote renewable energy policies, are roaming the university’s campus with 9-foot model windmills to draw attention to the need for more renewable energy, “green jobs” and better policies to address global warming. The Power Vote group is asking students and other voters to sign a “power pledge” indicating their support for renewable energy policies from either candidate (the group doesn’t publicly endorse either presidential candidate).
The Power Vote crew erected a bunch of windmills at the University of Mississippi (that’s their photo) in advance of last week’s presidential debate. Spokeswoman Brianna Cayo Cotter said the group tried to do the same at Wash U, but campus authorities snuffed out that idea. Undeterred, members hoisted their makeshift windmills on their shoulders and began walking around campus at 5:30 a.m. Thursday.
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Veep debate video
Palin waffles on naps!
Biden says try the macaroni and cheese!
Check out what the candidates (or the Washington University students who stood in for them during a dry run in advance of the Thursday night debate) had to say about naps, scooters and their favorite TV shows.
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Florida Senators at Odds on Bailout
Florida’s senators took opposing stands on the proposed $700 billion bailout of the financial industry, speaking from the floor in the hour before the Senate was expected to approve the bill.
Democratic Sen. Bill Nelson broke with his party’s leadership to oppose the bill, while Republican Sen. Mel Martinez emphasized the need to send a strong message of support to the House, which voted down the bailout on Monday.
Nelson said the bill sends the wrong signal to Wall Street.
“This bill rewards the banks and leaves the little person with the short end of the stick. And that is not right,” he said.
He added, “The bottom line is this bill forces taxpayers to bail out investment banks that caused the crisis in the first place.”
Nelson said it “saddens” him to oppose so many of his colleagues, and that he had hoped for a “better, more targeted” solution to the mortgage crisis.
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Paulson meets with Bush
Treasury Secretary Henry Paulson outside West Wing after discussions with President Bush in the wake of House rejection of the administration-supported economic bailout package.
Video above.
Text below.
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PAULSON: I’m very disappointed in today’s vote, but leaders on both sides of the aisle have worked very hard. I’ve spoken to them, and I know they share my great disappointment. We’ve experienced significant turmoil in our financial markets in the last few days, including the collapse of Washington Mutual and Wachovia here and the failure of two major financial institutions in Europe.
Markets around the world are under stress, and that reduces the availability of credit that businesses across America depend on to meet payroll and to purchase inventories.
Families, too, feel the credit crunch, as it becomes more difficult to get car loans or a student loan.
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All seven Georgia Republicans reject bailout plan
WASHINGTON—All seven of Georgia’s Republican House members joined all but two of the Democrats Monday in voting against the Bush administration’s $700 billion plan to shore up the nation’s financial markets.
Rep. Jim Marshall of Macon, a Democrat who said he was willing to back the unpopular package even if it meant losing his seat in November, joined Rep. Sanford Bishop, D-Albany, in voting yes.
The proposal went down by a surprise 228-205 margin after Republicans refused to back their party leadership.
“Our leadership weren’t elected by the people of our districts,” said Rep. Phil Gingrey, R-Marietta, who received a call from the Republican House leaders a few minutes before he voted against the proposal.
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Georgia Republicans plan ‘no’ vote on bailout
With the world and their constituents waiting to see how lawmakers would vote on the $700 billion bailout bill for the financial markets, Georgia Republicans in the House were poised Monday to “just say no” to their party leaders and the president.
After a meeting Sunday evening in the office of Rep. Phil Gringrey of Marietta, aides said the members were leaning heavily against the bailout. Rep. Lynn Westmoreland of Grantville took the House floor Monday morning to denounce the bill as too rushed.
“You cannot do this type of buyout — bailout of $700 billion without adequate hearings, without hearing other alternatives,” Westmoreland said.
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Bush on bailout
Above: Amid the clatter of cameras at the White House, President Bush pitches the economic bailout bill.
Below: The transcript, not including the questions he ignored (see video above to hear them):
Good morning. Yesterday, leaders here in Washington reached an extraordinary agreement to deal with an extraordinary problem in our economy. Working closely with my administration, congressional leaders from both parties produced the Emergency Economic Stabilization Act - a bold bill that will help keep the crisis in our financial system from spreading throughout our economy.
This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time. I appreciate the leadership of members on both sides of the aisle, who came together when our nation was counting on them. Negotiations are sometimes difficult, but their hard work and cooperation paid off.
The bipartisan economic rescue plan addresses the root cause of the financial crisis - the assets related to home mortgages that have lost value during the housing decline. Under the Emergency Economic Stabilization Act, the federal government will be authorized to purchase these assets from banks and other financial institutions, which will help free them to resume lending to businesses and consumers.
Latest comments
This is awesome. But, unfortunately I bet they get on the ballot anyway and nobody in America will say a thing. Wake up America!!! Before we end up being the Fascist country the current politicians are trying to force upon us. Can you believe that AIG,
... read the full comment by daryl | Comment on Barr Files Suit To Remove Obama And McCain From Texas Ballot Read Barr Files Suit To Remove Obama And McCain From Texas Ballot
This is but another example of how the Washington politicos have disregard for the citizens of the States and their State laws. It seems an analogy is in order. That is that the Democrat and Republican parties continue and will continue to romp
... read the full comment by Bob in SAT | Comment on Barr Files Suit To Remove Obama And McCain From Texas Ballot Read Barr Files Suit To Remove Obama And McCain From Texas Ballot
Stan, I am with you. GW will go down in history as one of our greatest presidents. Despite the vitriolic personal attacks on intelligence and such, GW stood tall, defending this nation and instilling integrity and honor to the office.
... read the full comment by JM | Comment on Bush's "mind-boggling and hair-raising" adventure Read Bush's "mind-boggling and hair-raising" adventure
Stan, your brilliant self-parody - “That is one heck of a character for a leader.” - will probably stand the test of time far better than G.W. Bush’s reputation. The man has lied to the nation repeatedly, has usurped
... read the full comment by Tactical | Comment on Bush's "mind-boggling and hair-raising" adventure Read Bush's "mind-boggling and hair-raising" adventure