Comments on: Bailout Update: Senate Passes Bailout, House Still Unclear

By: Mary Moench

Mary Moench — Sun, 05 Oct 2008 01:24:58 +0000

Reform the Chapter 13 Bankruptcy laws as they where before. The laws are so unfair and the money is so tight on a monthly basis that a family with children cannot survive. I There is no money for any extras like a holiday dinner, xmas, dancing, baseball and a homecoming dress for my daughter. But yet, the trustee is making a commission on us and the judge can get away with treating us like dirt in court while others walk away with hundreds of thousands in debt and we suffer. The best is credit companies make money on y0ur debt coarses @ $100.00 a person and you have to take a day off from work complete the coarse! WE NEED HELP NOW, NOT IN 3 MONTHS, NOW!!!! I WILL BE THE VOICE IN THIS RFORM AND I WILL NOT STOP UNTIL SOMETHING IS DONE. HELP THE PEOPLE WHO ARE IN CHAPTER 13.

By: Poilu

Poilu — Sat, 04 Oct 2008 08:32:31 +0000

Here’s one I consider a FAR more honest, innately populist assessment of this Congressional betrayal:

“US House backs Wall Street bailout”
Democrats credit Obama with shifting vote
By Bill Van Auken [WSWS; 4 October 2008]
http://www.wsws.org/articles/2008/oct2008/bail-o04_prn.shtml

‘ In its second vote in five days, the US House of Representatives approved a massive bailout package for the major banks and finance houses. The legislation, passed by a vote of 263 to 171 Friday afternoon, gives US Treasury Secretary Henry Paulson virtually unrestricted powers to use at least $700 billion to buy up largely worthless paper assets from Wall Street using taxpayers� money.

‘ The approval of the measure by a wide margin followed the defeat in the House of what was essentially a similar bill on Monday. Then, on Wednesday, the Senate approved a revised bailout package that was supplemented by nearly $150 billion in tax cuts and other measures aimed principally at winning support from the Republican right.

‘ These revisions brought the total price tag for the package to more than $850 billion, with many predicting that it will end up being only the first installment on a continuing transfer of public wealth to the coffers of the country�s major private banks. …’

By: Poilu

Poilu — Sat, 04 Oct 2008 08:05:35 +0000

“… House Still Unclear”

Not anymore, Kevin. And provisions benefitting the average “Joe” (OR addressing the root causes of this mayhem) are completely nil! It’s just one big corporate handout, “sweetened” via tax BREAKS for the criminal class alone!:

“House Passes Bailout Bill”
http://www.commondreams.org/headline/2008/10/03-12

‘ The US House of Representatives on Friday approved a revised 700-billion-dollar Wall Street bailout, bowing to intense pressure to help avert a global economic meltdown.

‘ The House, which sparked market and political turmoil by rejecting an earlier version of the bailout on Monday by 228 votes to 205, voted 263 in favor to 171 against in favor of the largest US government economic intervention since the Great Depression of the 1930s. …’

(Read in full, It’s a remarkably “deferential” piece from the once-respectable AFP, suggesting that the agency’s acronym now rightly stand for “Associated [French] Press.”)