We do prefer FREEDOM, give us freedom, or give us death. I am not afraid of their threats.
There has to be a different solution; this can't be the only way. Is there not some kind of free market solution? I mean, I know that they have screwed up the free market with Fannie Mae and Freddie Mac, but won't this bailout just screw it up more.
The Republicans need to come up with their own plan, and tell the Democrats to take it or leave it, and if they leave it, then they can pass their own Democrat Bailout Bill and be responsible for the economic outcome.
Although we do need to put this into perspective; what are we giving up and what are we to receive in return? I'm sure we all know the famous words of Patrick Henry:
"Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!"
Now we are faced with a choice of:
"Is not having an economic down turn so dear, or having all of our toys so sweet, as to be purchased at the price of chains and slavery?"
I have a feeling that if we let this happen, we'll end up with chains and slavery, along with a bad economy, but I could be wrong.
jbranstetter04
"...We are seeing a leveraged bailout of the United States Treasury. And in the end these interests that want your money are threatening your prosperity. And the choice you face is this. You will lose potentially, your prosperity for a short period of time, at the expense of your long-term liberty. Once the federal government has got you to take that risk and pass it on to you as a quote-unquote moral hazard, they will be in the marketplace and as the free market is diminished your freedom itself is diminished. And as your Congress does not stand up to these and put forward a better plan that truly protects the taxpayers and truly has the long-term interests of the United States at heart, you will be in jeopardy of losing both your prosperity and your liberty. The choice is stark and it was put forward in the book by Doestoevsky. In the Brothers Karamazov the Grand Inquisitor came to Jesus and he said 'if you wish to subject the people, give them miracle, mystery and authority; but above all give them bread'. And it has always been the temptation in a crisis especially to sacrifice liberty for short-term promises of prosperity. And it was no mistake during that during the 1917 Bolshevik revolution the slogan was "Peace, land, and bread." Today you are being asked to choose between bread and freedom. I suggest that the people on Main Street have said they prefer their freedom, and I am with them. I yield back."
- The Honorable Thaddeus McCotter - Congressman from Detroit
House to meet Thursday after rejecting bailout
GOP, Democrats argue effect of Pelosi speech on $700 billion plans failure
WASHINGTON - In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged 778 points, the most ever for a single day.
Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes. Bush huddled with his economic advisers about a next step. The House was to reconvene on Thursday instead of adjourning for the year as planned.
The stock plunge began even before the 228-205 vote to reject the bill was officially announced on the House floor. The decline for the day surpassed the 721-point previous record, on the day after the Sept. 11, 2001, terror attacks, though in percentage terms it was well short of the drops on Black Monday of October 1987 and at the start of the Depression.
"We could have gotten there today had it not been for the partisan speech that the speaker gave on the floor of the House," Minority Leader John Boehner said. Pelosi's words, the Ohio Republican said, "poisoned our conference, caused a number of members that we thought we could get, to go south."
"Peace, Land, and Bread" But at what Price? $700 Hundred Billion Bank Bailout. | |
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| News & Politics | Upload TimePublished on 30 Sep 2008 |
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