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2 of 3 Utah congressmen vote no on bill

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Wanderer | 12:42 p.m. Sept. 30, 2008
Why was it voted down? Is it perhaps because the public saw through the illusion and understood the fraud being perpetrated?
(1) Barney Frank acted out of compassion; he wanted the poor and minorities to be able to afford housing, and even to own their own homes. A laudable goal, I agree. But his ignorance of economics led to unworkable policy: accept ANY evidence of income (unemployment, alimony, etc.) as valid proof of ability to repay. Bankers who would never have approved loans based on "ability to pay, assets on hand and savings on account" were told that they would be SUED if they turned down too many loans to the poor. THIS collapse resulted, since B. Frank & company resisted any attempt at reforming Fannie Mae and Freddie Mac for the last two decades or so.
(2) Chris Dodd and B. Frank are still in office; they have not offered to resign, no one is talking recall or impeachment. Paulson, Bernanke & Co. are still in office; etc. Did the public revolt upon learning that the same idiots who created this mess are to be in charge of fixing it?
Better no bailout than more of the same.
2 Econ Classes | 12:49 p.m. Sept. 30, 2008
Wow....it's surprising how much of an expert one can be after just two econ classes at SLCC.

Bernanke wasted all that time going to school and studying the economy when all he had to do was take 2 econ classes and he'd know exactly how the worldwide economy works.
All is well in Zion | 1:10 p.m. Sept. 30, 2008
Don't worry, be happy !! All is well in Zion. Zion prospereth!!! We don't need a rescue or bail out bill. Let wall street collapse. Let the credit markets freeze solid. What me worry ??? (Alfred E Newman)
Comments continue below
All really is well in Zion... | 1:24 p.m. Sept. 30, 2008
I agree...all is well in Zion, and why does Zion need to worry about what goes on outside its borders? Let the world outside crumble, while those inside the walls live happy, blissful lives.
Get Educated... | 2:15 p.m. Sept. 30, 2008
You made my day in reading your post. Funniest thing I have read in years...a real stab in the dark! Hope you get your bail out along with your greed stricken Wall Steet friends. What a HOOT! Bail it is indeed. Keep it coming...the entertainment value is overwhelming!
Charles | 3:59 p.m. Sept. 30, 2008
If the bill was so great and wonderful, why didn't the Dems just pass it on their own? Why did Rahm Emanuel sit on the floor counting votes and then encouraging a few Dems to vote for it to make it close but no necessarily have it pass because of the Dems but through Repubs?

This is just a lame case of politics as usual in Congress...and I thought Pelosi said she was going to change the way Congress was run and bring transparency with her to DC....lies and more lies...

No bailout. People will never learn if someone always bails them out. Let the market do its thing and get Maxine Waters, Barney Frank, Chris Dodd and others out of the mortgage business. If it wasn't for them and their racist attitudes towards the American Dream we wouldn't be in this mess....

@ Cameron | 4:36 p.m. Sept. 30, 2008
And those same experts you rely on for you opinion have stated that they have no clue if this will actually work. They don't know what the true outcome would be; just speculation.

So quit with your condescending attitude about education and understanding as you showed in your own post you fail to understand it all.

Geesshhh.
Dixie Dan | 4:44 p.m. Sept. 30, 2008
How odd that Bush came into office promising to restore "honesty and integrity" to Washington. We now have Senator McCain saying he will clean up Washington. Who is lying?
Confussed | 7:12 p.m. Sept. 30, 2008
I don't entirely understand what's going on. I have to get my info third hand. Here's my take on it. I think those that run the banks are dumber than dirt for letting it go this far, but that said I'm not keen on the idea of loosing my home either. I understand because the bailout failed, banks will collapse, when banks collapse, mortgages are foreclosed on. If the bailout stays, I've heard that over seven million families will loose their homes. I have no idea if I'm one of them. If it's a choice between not bailing out the banks and loosing my home or bailing out the banks and keeping it. I'm in favor of the bailout. Even if the idiot bankers don't deserve it.
To Charles: | 9:41 p.m. Sept. 30, 2008
You do remember that it was the Republicans that defeated the bill? The Dems said they were willing to pass Bush's plan with the changes that were made. It's the Republicans that said no. You can't pin this on the Dems. Check the voting records.
Hal Jordan | 1:46 p.m. Oct. 1, 2008
re: All is well in Zion | 1:10 p.m. Sept. 30, 2008

Hello, Newman.

re: All really is well in Zion... | 1:24 p.m. Sept. 30, 2008

I see someone recently got their happy pill prescription renewed. lol.

re: Dixie Dan | 4:44 p.m. Sept. 30, 2008

Both W & J Mac.
Obama Republican | 2:43 p.m. Oct. 1, 2008
Bush and the Republican congress in 2002 set a goal for 5.5 million new minority and poor home ownership. I have seen everyone trying to blame Clinton for this mess.

Clinton did ask Fannie Mae to change the standards but the Republicans took the hand off and ran for the touchdown.

Now the republicans do not want to help fix the problem created by their Administration. All you BUSH Lover in Utah need to remember this Buyout is his plan not Barney Franks!
Darin | 4:40 p.m. Oct. 1, 2008
Cannon is a sick man and a dinosaur. He needs to get out of government before the corruption cankers him even more. The mere fact that he voted FOR the bailout is reason enough for me to OPPOSE it!
Charles | 7:25 a.m. Oct. 2, 2008
@ To Charles,

Your post shows that you haven't a clue as to what happened with the bill in the House.

Some times it is better just to be quiet than to open our mouths and remove all doubt.

This is the bill of the Democrats, it is Barney Frank's bill, it was a bill that was sending money to ACORN, it was a bill that 12 Dems on Frank's committee didn't vote for.

Again, please stop with the talking points of OlberMonkey....I thought liberals were supposed to be critical thinkers? Not on these pages...
Obama Republican | 7:55 a.m. Oct. 3, 2008
It is so funny to read these posts. If you just look at them you can see that the Righties have been listening to Rush, Hannity, or one of the other conservative nut jobs.

Think for yourself people, those radio shows are bought and paid for by big business that wants you to vote in their interest not your own.

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