Please, pretty please, continue the status quo. . . answer: not this time. . .
TARP was a bad idea, necessary, but bad. I work in the financial services area
and they had to have help to keep the entire industry afloat. And unlike the
borrowed money for stimulus and Obamacare, half of the money spent has been
returned already. People forget some things and do not know others.First since Bush got TARP passed, 345 billion has been spent on banks.
According to the US Treasury website, as of Wed, 146 billion had been repaid
with 14 billion more in interest earned.....Hello people, we have not lost a
cent.Lastly, remember this is the last go around for Bennett. He is
essentially a one term Senator and no one else running has even been elected to
a city council seat before. Let's send someone with NO elected official record
to battle Pelosi right now....HA
So many oppose Bennett for his bail out vote. Yet, I haven't heard any
realistic alternative. What would have happened if these large institutions had
been allowed to fail? Who out there has the experience and knowledge discuss
these details with the seasoned senator? He knew he had to do even as he held
his nose. The bailout stunk to him just like it did to us. But what else could
Though I like and respect the Senator, this time he will not be re-elected.The best thing he can do is lead the way for the old guard to stop
hanging on to "seniority" like a crutch, and encourage all the "professional
Senators" to do the same.Please, Senator, announce your withdrawal
from this race. You can do more good from outside.
SoUtahbites: I'm just wondering. How much experience do you have in
Washington? How much? I have spent many years of my life on Capitol Hill and
have a pretty good idea about the way things work. Anyone can make sweeping
statements with no supporting evidence.I believe most of these posts
are written by members of other campaigns that are trying to fuel the hysteria
and denigrate the importance of seniority because their candidates HAVE NONE.
I've been on campaigns, I know just what you're trying to do and I'm not fooled.
I am NOT opposed to Mike Lee or Tim Bridgewater. I'm only pointing
out how important seniority is.Please, delegates, let the voters
decide. Let Senator Bennett get to a primary and then the voters can decide.
Wow, facts_r_stubborn...you seem to have a lot of time on your hands to defend
Senator Bennett. Any chance you're a full-time employee of the Senator or his
campaign? What other usernames are you employing on these boards?And
since you have so much time on your hands, how about rebutting my previous
question about the Senator's involvement in the Transatlantic Policy Network? Or
was your claim that you had refuted every argument against the Senator just an
"Cats" Bennett's seniority does not help on the specifics you listed.
Concerning inability of a Junior Senator from Utah not having the ability to
accomplish much in Congress until better seasoned. Since when do we expect
Seniority to be the superman cape for Utah or America?Thomas
Jefferson was 32 when elected to the Continental Congress; the next year, 1776,
he was chosen by his illustrious, seasoned colleagues to serve on a committee to
prepare a Declaration of Independance. Though the youngest and most
inexperienced member of that committee, he was chosen by that body to serve as
Chairman; he was then given the task of drafting the document, to which few
changes were made by the greater Congress:to which 56 seasoned
representatives pledged their lives, fortunes and sacred honor. Where are the
statesmen of 2010? Mr. Bennett had waffled too many times on his oath to the
Constitution in my book.
Bennet only comes out of the closet every six years...you never hear about him
and what he is doing for the state the rest of the time...but now that it
appears he is on the threshold of going down in flames...suddenly, he's there,
he's here and wow want a job he has done for Utah...too little, too late...so
Interesting image of a future teeter-totter: Mr. Bennett sitting as the
Chairman of any committee in Congress, claiming accountability to "we the
people", and on the opposite end, Mr. Bennett as the (current) Chair of the
Transatlantic Policy Network (TPN) which is accountable to none of us.
There are people posting here who are trying to pretend that seniority doesn't
matter. BUT IT DOES. IT MAKES A GREAT DEAL OF DIFFERENCE!Give
Senator Bennett a chance to get to the primary. Then let the voters decide who
they want to have the nomination. Don't let a few angry delegates make this
decision for everyone. Let the voters decide.
ScatteredRain: You clearly don't have ANY idea about how important seniority
is. Chairmen of Committees have the ability to push all kinds of legislation
that benefits their states and all kind of ability to stop legislation that
hurts their states. Having a powerful chairman can have A LOT to do
with opening up energy production in Utah, with stopping unreasonable wilderness
expansion, with helping maintain the charitable contribution deduction that MANY
people in Utah need in order to continue to pay their tithing, etc, etc, etc.There are MANY, MANY reasons to want a Senator with a lot of seniority.
ANYONE who has spent ANY time on Capitol Hill knows this. It's only people who
have no experience there, but think they know everything, that believe it
doesn't matter. IT DOES.Don't get me wrong. I'm a big supporter of
the Tea Partiers. I think they're great and I agree with them on just about
everything. I'm only trying to point out that this hysteria against Senator
Bennett is just that--HYSTERIA. Let's not throw the baby out with the bath
facts_r_stubborn you did not read JMT post very well he/she said "debt and
obligation." Anyway, I have tried to find these types of numbers and I have
compiled my own and these are pretty close to what I have come up with. I would
love if an official source released these kind of numbers, but it would be
extremely depressing to really know what is handing over the next generation.
@facts_r_stubbornJust because you write every detail of your opinion
doesn't mean we're reading it. I have skipped over your comments...too
long...boring! Make your point quick! Here's mine:I don't want
Bennett in there anymore. Term Limits! This keeps the process honest. @Cats Get off your "Seniority" kick. That is all the "Big Boys Club" can use
in favor of Bennett. You talk about how it's important, but don't add any
detail. Utah-It's time to show Washington that We the People run this
place...watch what we do this Saturday, and in November!!!
ok facts look at it this waybennett's influence didnt help when
obama took over the student loan issue and utah was left outbennett's influence with oil hasnt done anything, production up , nowhere to
put it and still oil goes up .. what influencebennett watches his
senator peers double their personal wealth and does nothingbennett
started the whole economic mess, lost jobs, lost homes with his YES votes on
banking deregulationbennett's influence has done nothing for corn
subsidies which causes the rest of world economic meltdown in trying to grow
corn and cause ecoli here in america with american beef (not grass fed
anymore)bennett's influence with monsanto and supreme court judge
clarence thomas (former monsanto lawyer) decisions (all in favor) of monsanto
suing soybean growers out of businessbennett's non-influence on
committee meetings where john Q public cant attend from waiting in many hour
long lines cause lobbyist dont have to wait in line and crowd the room fulland the list goes onand just how exactly when bennett ousted
his incumbent 18 yrs ago how wasnt that a horrible awful thing??utah
has had enough bennett 'influence'
I wrote Senator Bennette and told him if he votes for the TARP bill I will not
supprot him for re-election. Now he is acting all surprised.
facts_r_stubborn .. must be a staffer.. cant have it both ways sir ... if
bennett has all this influence in DC as he suggests .. how can he miss so many
votes on the important committees he sits on?? you see sir he has 18
yrs of taking lobby money, voting lobby ways , shoot he voted for the
deregulation bill for banking which in turn lead to the world wide meltdown ..
lost jobs, lost pensions, lost homes ,, then of course he had to vote for the
TARP and bailout his lobby buddies demanded it .. otherwise the money would have
dried up that he is currently spending now .. and just how many days has he
missed being in DC and just how much money (not his) has he spent all the while
complaining about others spending money 'against' him .. if anybody
with logical reason listening to bennetts word is saying excuse me .. you claim
influence but you can miss 6 weeks plus from being on the job ?? you started
the world wide meltdown with your voting, and continued the mess with helping
the lobbyists rather then the americans keeping their jobs and homes incumbent out and challengers inhatch is next
"I won't break Ronald Reagan's 11th commandment like so many conservatives on
these threads have. I'm sure a few of the challengers are very capable and
qualified individuals in whatever professions or business they have been
involved with."You put a president that had the most federal
convictions within his administration on level ground with Moses? Interesting.
I am just amazed by the tone of desperation in these posts. Here we are just a
few days from the convention and suddenly Mr. Bennett's campaign decides he is
in trouble. Somebody on the campaign should be fired for not reading the signs
months ago. That is when this reelect Bob campaign should have started. This
appears to be a case of too little too late.The Republican Party
created Tea Party is going to backfire on the old guard Republicans and they
just now are beginning to realize it. Their creation has gained a life of its
own and the end result could be more losses for the GOP brought about by vote
I'm so tired of my father's generation screwing up our country. It's time to
vote this generation out of office. Let's start with Bob Bennett!
Forrest: You don't have ANY idea what that seniority might have gotten for
Utah. You just threw that out for something to say. You have nothing to back
that up. The fact is, you don't know anything about it.Having said
that, I have no doubt that much the nastiness against Senator Bennett on these
posts has come from members of the other campaigns. It's a cheap way to make
points--especially when you can't raise any money.When the
Republicans take back the Senate, Bennett will become a Committee Chairman.
That's a lot of power for Utah. If you are a delegate, please think
very hard about that. I've spent a lot of my life in Washington and I know how
much that seniority counts. Please let Senator Bennett get out of the
Convention and then let the Republican voters make the decision in the
Cats,we will loss the seniority in 6 years when Bennett retires. So
the real question is do we want to loss the seniority now and get someone in who
will defend and uphold the constitution or do we want 6 more years of Bailout
Bob and his seniority?
It is tiem for him to go. You show you can't fulfill your responsibility. You
don't need another shot. We need someone with real conservative roots, who
won't bend, and then not stay there forever.
Senator Bennett made the right call on the Bush Financial TARP. He made the
right call in not supporting the wasteful spending of TARP funds under Obama,
Obama care or Obama budget. He made the right call and showed great political
courage in offering to begin a dialogue for alternatives to Obama care.
Something that with skyrocketing health care costs and the burden of medicare
and medicaid is sorely needed to save the nation from bankruptcy and
mediocrity.Senator Bennett is an expert on many important issues
affecting Utah, including Utah/federal land use issues where he has done
tremendous good for the state. Far from pork barrel spending he has supported
jobs in Utah, and Utah getting its share of federal funds for important
military, infrastructure and other needed projects.Senator Bennett
has the skill, experience, seniority and clout in Washington to move the nation
back to right of center when the Republicans retake Congress. He is the best
qualified candidate for Utah's Senate seat this year.Vote to move
Senator Bennett forward to the primary and to re-election.
@facts_r_stubbornThe Shelby bill from 2004, which attempted to
reform Fannie and Freddie, died because Bailout Bob had added an amendment to it
which weakened it to the point that its own sponsors could no longer support it.
Bailout Bob should be as voting as often as possible right now. There probably
aren't that many votes left this year, so he should participate while he still
Commoner,Yes, and the civil war occured during Lincoln's watch too.
When challenging events in our nation's history occur, it is what you do about
them that counts.Senator Bennett's votes and record are not the
slightest bit responsible for the financial crisis, nor could he could have
prevented it, but then I've already explained that in detail.In
summary, there were two primary regulatory failures, both occuring under the
Democrats' watch. One, the 1999 Clinton administration rule allowing "naked
credit default swaps" for the first time since the great depression. Two,
relaxed underwriting standards pushed on a willing Fannie and Freddie by
Democrats intent on pushing home ownership, leading to destructive competition
and a flight to the bottom by private lenders in the mortgage market, then
securitizations where the mortgage originators were left with no skin in the
game, the housing bubble, yada yada.Republicans and the Bush
administration did push for reforms at Fannie and Freddie but were blocked at
every turn by Democrats. Of-course very few saw the full extent of the looming
risk.Hind sight is 20/20, and financial computer models showing
safety in diversification and securitization were wrong.
So Bailout Bob missed almost a third of the votes to be here in Utah telling us
how critical it is that he be in Washington. If it were that critical,
shouldn't he have been in Washington instead of Utah?The real
problem is not only that he missed almost a thrid of the votes, but that when he
missed those votes he also wasn't actually working. Regardless of whether the
particular votes were important or not, he could have been working on saving
this Country from the mess its in -- the mess that was created on his watch.
Well, Bennett certainly didn't spend of that time in southern Utah. He lost my
vote right there alone.
T. Party,Delagates and voters need to make distinctions between the
short term intervention in financial markets done by Bush and supported by
almost every Senator, and the partisan new wasteful spending of TARP funds and
new social programs initiated by the Obama administration and Congressional
Democrats.During Bushes term only about $245 billion was committed
to stabilization of financial markets. A resolution trust corporation or asset
guarantees would have been preferable both structurally and politically, but
because the markets for these assets was totally inactive, direct capital
infusions became the only viable option. It was necessity and not bailing out
budies on Wall Street that caused this to happen.Bennett had nothing
to do with all the wasteful ways Obama spent the remainder of TARP or his new
stimilus, and bail outs of GM and Chrysler.The Bush TARP funds are
already 75% paid back with the sale of the taxpayers 27% stake in Citigroup. We
need to get out as soon as possible when smaller regional banks pay back the
remaining 25%. This was not a government takeover, this was short term
intervention. Ugly, but it worked and will be payed back, unlike Obama's
Sure glad we've got Senator Bennett -- he saved the world. Let's re-elect him!
If I missed going to my office 28% of the time I'd be fired. No employer
would put up with that nonsense.
T. Party,Think of it this way. Who would have thought that the oil
spill in the Gulf of Mexico would have hurt duck hunters in North Dakota?These are not scare tactics these are the facts. Don't believe me, talk
to the experts. Here is one to check out: Spain will be attempting to float $30
billion of debt this Friday. Whether or not they succeed could have big
implications for how far and fast the contagion spreads.Take the
financial crisis of 2008. The problems started at Fannie and Freddie emboldened
by Congressional Democrats to relax underwriting standards to push home
ownership leading to a housing bubble. Financial markets were within days of a
total collapse. It started in the sub-prime market and lower
traunches of mortgage backed securities spreading to senior traunches, and
eventually to almost all sectors of financial markets and even to short term
supposedly "safe" commercial paper. Ask almost any business man, or
retirement fund manager what a total collapse of financial markets, (i.e. no
access to capital),would have meant for the main street economy.Sorry to bust anyone's bubble, but this wasn't a bailout.
Let's take a look at what the "seniority" of Utah's senators has gotten us:
I didn't like the TARP vote either. BUT...as someone who has spent a lot of my
life on Capitol Hill in Washington, I can tell you that SENIORITY REALLY
COUNTS!!! IT REALLY DOES!Everyone who wants to dump Bob Bennet
better think about this really hard. SENIORITY REALLY DOES COUNT FOR A LOT. We
would be losing a lot of clout in Washington.PLEASE, really think
goatesnotes, one more rhetorical point:Ears work better when they
are not deaf.
goatesnotes,With all due respect, you speak for all delegates now? I
just call it the way I see it. I firmly and sincerely believe, that now is not
the time to punt Utah's influence and power to other states. You believe
otherwise and that is fine. Am I not entitled to my opinion? At least I attempt
to ground my opinions with verified facts, unlike most of the wild rhetoric on
these threads.I wouldn't be surprised if he is re-elected this year,
that Senator Bennett retires in six years. We'll just have to wait and see if he
is re-elected this time.
JMT,I don't know where you are pulling your figures from but you
better double check your sources. What debt are you refering to at $110
trillion?Total gross domestic product for 2009 was only $14.2
trillion. Total domestic public debt at the end of 2009 was $12 trillion. This
is extremely troubling never the less.You lose credibility with your
conclusion when your numbers are bogus. Don't paint with such a broad brush.
Talk to people who know the facts, or learn them yourself. Details do matter in
the conclusions we reach.Senator Bennett voted against Obama care,
against Obama stimilus, against Obama budget, against Obama taxes and against
Obama spending. He most certainly has not voted for $70 trillion of IOUs.
Let's conserve the Constitution, and stop conserving Bailout Bob's campaign
contributors.@facts_r_stubborn: the scare rhetoric you employ is the
same kind of rhetoric that was used to justify bailouts of the same institutions
over and over again since Clinton. "If you don't bail us out, the sky will
fall." Goldman Sachs was bailed out five different times before anyone even
heard of TARP.Put all banks on an honest footing, and then watch how
fast the recovery takes place.Bailout Bob's way is to try so hard to
avoid the pain, it ends up being protracted for years.
I have one question for you, "facts" -- will you still be using the same tired
argument for Senator Bennett six years from now when he's 83 years old? Your
plea to delegates is falling on deaf ears.
Healthcare is another issue where well meaning and principled but misinformed
conservatives have attacked Senator Bennett for the Bennett/Wyden bill.Let's look at the reality, healthcare costs themselves. Republicans should not
live up to Democrat's characterization of them as the party of "no." We actually
have a better, market based and state regulated way to address the cost of
healthcare. Health care costs have risen from 11% of gross domestic
product during the Reagan administration to 18% today ane 20% within five years.
One out of five dollars in the U.S. is spent on health care. Tax is not the only
tax. Health care costs are killing the American Dream and eliminating the middle
class in this nation. Medicare and medicaid will bankrupt this nation within 20
years if nothing is done to change our current trajectory.The
Bennett/Wyden bill was not a finished product but a template for debate and
market based solutions which won bipartisan support. It was lauded by the
conservative think tank Heritage Foundation as a big step forward, a starting
place for a market state based plan.Mark my words, these are the
John Jacobs, we have tried the "mainstream and compromise" you suggest. $110
Trillion of debt and obligation later, here we are. It doesn't work.One party is absolutely dedicated to expanding government power and expense at
every turn. Compromise with this means that we only grow government at half the
rate. So it takes us twice as long to get there but in the end we are there. And
the there is European style socialism.If you want that then climb
out front and campaign for it. If you don't then at some point it is a matter of
digging in your heels and saying no more.When Bob Bennett got into
office the total debt and obligation was around $40 trillion. He has voted for
almost every part of the next $70 Trillion worth of I.O.U.'s. How much more do
you want to "compromise"?I'm all out of "compromise" on this one.
Vote the guy out of office!
goatesnotes,I won't break Ronald Reagan's 11th commandment like so
many conservatives on these threads have. I'm sure a few of the challengers are
very capable and qualified individuals in whatever professions or business they
have been involved with.Having said that, no matter how smart and
capable someone is, there is usually some learning curve on a new job. That
seems to just be common sense, but I suppose there is little common sense in
politics.Perhaps one of these challengers will be the next Senator
from Utah, and certainly the time for change will come, sooner or later.Having said that with the Republicans poised to take control of the
Senate this year, Utah needs to be a player in reversing the excesses of the
Obama administration and a Democrat Congress that is spending our children's
future financial security at an alarming rate.A freshman Senator, no
matter how much potential he/she has can't deliver on that promise now. Only a
conservative Senator with signficiant clout as Chairman of Banking and senior on
Approprations can bring the kind of change we need.Now when it
really counts, delegates support Senator Bennett.
People don't realize just how critical this moment in history is. No matter how
good a new Senator may be one day be, Utah will lose influence now if we dump a
senior Senator.It's not over. Greece is in sovereign bankruptcy. The
contagion is spreading to Portugal, next Spain, then Italy and possibly even the
U.K. This could well cause a severe double dip recession in the U.S. as well.8 million jobs have been lost in the U.S. and the federal deficit looms.
However, failure to stabilize financial institutions would have been
exponentially worse. I have seen the economic projections had we failed.Political delays to intervention in Greece have doubled the taxpayer tab
there since January. In Greece, $100 billion is a lot of salad.Forgetting Obama's excess, Bennett's vote for the original TARP prevented a
global depression. I'm all for creative destruction and free markets, but that
kind of pain would jeopardize our freedom and our ability to defend our nation.
It would have taken well more than two decades to recover, cost the taxpayer
trillions more, and the job loss and economic decline unfathomable.
Knock, knock, anybody there? The Club for Growth is having very little if any
impact on the delegates, and Senator Bennett's efforts are having even less.
Most delegates with whom I have spoken are supporting either Mike Lee or Tim
Bridgewater. And, believe it or not, those delegates who aren't supporting
Senator Bennett are reasoned and thoughtful for the most part, not the radical
extremists most in the media want you to believe. I've never heard so much
hyperbole in the run up to a convention as I have this year. There's a really
simple reason Bennett will be defeated -- the delegates believe his opponents
are better qualified this year than he is, and all the pressure in the world
won't sway many from their positions, certainly not me.
Senator Bennett should fight for everything he is worth for re-election. Missing
a few routine votes now could pay big dividends for Utahns for the next six
years. If he is able to make his case, many reasonable delegates who carefully
consider Senator Bennett's conservative record and experience may wonder if now
is really the time for inexperience. The Club for Growth has been
almost single handedly more effective in defeating Republican Senators and
replacing them with Democrats than all the liberal interest groups put
together.They are a destructive special interest group of the worst
kind who take statements and events out of context and distort the truth. No
matter how conservative you are, a simple review of their website shows that
this group is willing to do and say anything, without any concern for the truth
to further their end game and questionable agenda.
Wow. Why all the negativity against Bennett? It seems like the extremists are
running both parties. Lately it has been all or nothing. What happenned to
mainstream and compromise?