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Matheson and Bishop vote against bailout

Not surprising... both Republicans...(Matheson just doesn't realize it)

I have defended Cannon's vote on this one.

Yes, I voted for Jason Chaffetz, and will vote for him again. I wanted Cannon gone.

Yes, I know Jason said he would not support the buyout and his democrat challenger would have voted for it.

That said,, I told Cannon to vote for something re: the bailout, and he did. Banks were stopping loaning money to small developers building commercial projects. It wasn't that they were high risk, it was the lending money was that tight.

Congress was at fault for much of the mess. They knew about this two years ago, and did nothing.

The Fed caused much of the problem with the lowering of the rates, and then jacking up home equity rates over 3% in a few months.

The SEC didn't regulate how leveraged the mortgage funds were getting.

Congress had a law that required the banks to issue riskier loans than they wanted.

Pres. Bush should have fired someone last year.

All of that doesn't include people overspending, including huge houses they couldn't afford, and lenders being stupid.

We needed this. It is real sad the senante had to add the pork to get it.

The bailout package is mostly a scam. There isn't enough money to loan because of the Federal Reserve's attempt at price control, by keeping the prime lending rate below market. Foreign governments and multinational corporations would rather borrow from a country that has an artificially low interest rate and declining currency. Raising interest rates would bring money back to this country. This year, big banks have been getting hundreds of billions that the Federal Reserve created electronically out of nothing. Still these big banks have a shortage of money to loan to the average person because it's easier to maintain one big loan overseas than a bunch of little loans here. The Federal Reserve was created to protect a handful of big banks from competition from small banks. To find out more about the Federal Reserve, I suggest reading "The Creature From Jeckyll Island" by Edward Griffin, ISBN 0-912986-39-5.
The long history of bailouts has increased moral hazard. Big banks are willing to take big risks because they know they will be bailed out. The best way you can help is to deposit your paycheck into the little banks and credit unions who loan the money in your neighborhood.

It has to be tough to figure out what is in a 450 page bill marked up in secret, with little time for anyont to review it.

Jim Matheson made the right call on this one and I am grateful that he had the courage to vote against this.

I am also glad theat Rob Bishop voted against it. Bishop is to be commnded for digging though all that manure looking for a pony, and finally concluding there was none.

This bill just makes me sick. Sen Bennett, as a long time member of the Senate Banking Committee is directly responsible for the situation we now find ourselves in, and now he tries to cover his tracks. Where were the hearings on this 4 years ago. As for Hatch he was just happy to see it loaded with more pork.

We have to expect this from Cannon. Since he is now out looking for a good lobbyist position he wouldn't want to anger any of the possible lobbyist groups, especially the financial organizations. Then again perhaps he wanted to poke the citizens of the 3rd District in the eye for what they did to him.

At least there were two of our congressmen that had the integrity to stand up for the citizens of Utah in face of the intense lobbying poured out in Washington. I am a republican, but would support Rep. Matheson if he ran for the senate seat held by Bennett in 2010. Bennett has shot himself in the foot with this bill and the "Comprehensive Immigration Bill," commonly referred to as "Amnesty."

We have all just co-signed for our greedy financial brothers.

Bennett and Hatch both need to retire. voluntarily or voted out, Bennett is more of a Democrat then some Democrats. Hatch has gotten soft.
This "bailout" is just a rescue of the guys that are the most responsible for the mess.
You know there is a problem when these people are so happy: Pelosi, Barney Frank, Jim Clyburn, Steny Hoyer, Harry Reid they all had the biggest smiles on their faces, and there's not a Republican to be seen. She's taking questions from the press, and they've got the bill in a big blue box, open to the signature page.
Also, WHY the H, do we have President Bush answering to the World about this. what a disaster.
Thanks to those who voted to protect tax paying Americans like Bishop and Matheson

I am so excited that Matheson listened to the people on this issue and voted the way we asked him to. I wish Bennett and Hatch were up for reelection so I could work to get them removed from office.