Praise or Panic

At this time, many people are wondering what will happen next. Many hours were used to plan a bailout to try to settle Wall St. However, the plan was presented to the House of Representatives today and it was voted down. Hundreds of thousands of people spent time calling their Senators, Congressmen, and Representatives to plead with them to not support this plan. And for once, they listened!

This plan seemed to be a blank check for the Secretary of Treasury, Henry Paulson, to propel his career. Seemingly, with all the power of $700 billion in his hands, one can only wonder what Paulson's underlying meaning was or is.

One other thing to take a look at, would have been the lining of the pockets of organizations in the like of ACORN. All be it at the sum of 20% of the first preliminary draft of the $700b. Could ACORN have been lobbying for this money to fund the campaign of Barack Obama? Is this why Obama didn't want to join John McCain in Washington to work on an agreement to help the people of America, because he could have profited from it?

Pointing the finger, and placing the blame is the easy thing to do, but figuring out a way to help the people long term is key. Is the government stepping in and paying for the mistakes of the people, the right choice? Many more say no than yes. The idea of a government bailout is short term, while allowing the market to correct itself and letting the private sector step up and take care of things is long term. We have seen in the recent weeks, banks and lending institutions fail, only to be acquired by much larger banks and institutions. Most recently, the acquisition of Wachovia by Citigroup.

The private sector has always, and will always, work much faster and more efficiently than the American government. The private sector wants nothing more than to control their money and investments without the unhelping hand of the government. This was expressed today by the actions of the people and taking the initiative and voicing their opinion.

However, it is unfortunate that Wall St. is being a big pouty baby and bring forward the largest single one-day plunge of 777Pt's. This is nothing but pure scare tactic to try and get a bailout passed. The bailout will not work today, and it will not work tomorrow. What needs to happen is to let the market correct itself, instead of looking to someone to fulfill their greedy grimey habits.

The majority of this "crisis" falls on the grounds of GREED. What is GREED? GREED is an excessive desire to aquire or possess more, especially material wealth, than one needs or deserves. The greed of the people to live the American dream. The greed of lenders and big business to take advantage of that dream. The greed of the government to control more and more.

This country was founded on freedoms, hopes, and dreams. It was not founded on the ideals of Socialism. If the elected officials continue down this socialistic path, the people of this great nation will revolt. What the elected officials are failling to remember, is that they are to be the voice of the people when drafting and voting bills and laws. It is the voice of the people that are to guide and direct the path of America.

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Current Draft Proposal

http://www.foxnews.com/projects/pdf/rescuebill_First_Draft.pdf

This is the current draft proposal for the "bailout".

Please take the time to read and understand this "bailout" proposal.

A deeper look into this draft will be discussed soon.

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*ALERT* - Pelosi's new "bailout" proposal

Posted as provided by FOXNEWS.com

Draft Proposal of the Financial Rescue Bill

Sunday , September 28, 2008

REINVEST, REIMBURSE, REFORM

IMPROVING THE FINANCIAL RESCUE LEGISLATION

Significant bipartisan work has built consensus around dramatic improvements to the original Bush-Paulson plan to stabilize American financial markets — including cutting in half the Administration’s initial request for $700 billion and requiring Congressional review for any future commitment of taxpayers’ funds. If the government loses money, the financial industry will pay back the taxpayers

3 Phases of a Financial Rescue with Strong Taxpayer Protections.

• Reinvest in the troubled financial markets … to stabilize our economy and insulate Main Street from Wall Street

• Reimburse the taxpayer … through ownership of shares and appreciation in the value of purchased assets

• Reform business-as-usual on Wall Street … strong Congressional oversight and no golden parachutes

CRITICAL IMPROVEMENTS TO THE RESCUE PLAN.
Democrats have insisted from day one on substantial changes to make the Bush-Paulson plan acceptable — protecting American taxpayers and Main Street — and these elements will be included in the legislation

Protection for taxpayers, ensuring THEY share IN ANY profits
• Cuts the payment of $700 billion in half and conditions future payments on Congressional review
• Gives taxpayers an ownership stake and profit-making opportunities with participating companies
• Puts taxpayers first in line to recover assets if participating company fails
• Guarantees taxpayers are repaid in full — if other protections have not actually produced a profit
• Allows the government to purchase troubled assets from pension plans, local governments, and small banks that serve low- and middle-income families

Limits on excessive compensation for CEOs and executives

New restrictions on CEO and executive compensation for participating companies:

• No multi-million dollar golden parachutes
• Limits CEO compensation that encourages unnecessary risk-taking
• Recovers bonuses paid based on promised gains that later turn out to be false or inaccurate

Strong independent oversight and transparency

Four separate independent oversight entities or processes to protect the taxpayer

• A strong oversight board appointed by bipartisan leaders of Congress
• A GAO presence at Treasury to oversee the program and conduct audits to ensure strong internal controls, and to prevent waste, fraud, and abuse
• An independent Inspector General to monitor the Treasury Secretary’s decisions
• Transparency — requiring posting of transactions online — to help jumpstart private sector demand

Meaningful judicial review of the Treasury Secretary’s actions

Help to prevent home foreclosures crippling the American economy

• The government can use its power as the owner of mortgages and mortgage backed securities to facilitate loan modifications (such as, reduced principal or interest rate, lengthened time to pay back the mortgage) to help reduce the 2 million projected foreclosures in the next year

• Extends provision (passed earlier in this Congress) to stop tax liability on mortgage foreclosures

• Helps save small businesses that need credit by aiding small community banks hurt by the mortgage crisis — allowing these banks to deduct losses from investments in Fannie Mae and Freddie Mac stocks

Office of Speaker Nancy Pelosi – September 28, 2008

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2008 Presidential Debate - Friday, September 26

In case you missed the Presidential Debate on Friday, September 26, 2008, here is the full video with compliments to CSPAN.

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Palin's Power Play

Last night, during the Republican National Convention, Sarah Palin electrified the room that rivaled, if not surpassed, that of when Barack Obama addressed the Democratic National Convention. While both were historic in their own rights, Sarah took the opportunity to introduce herself, not only to all of the media, but to America.

"When I ran for city council, I didn't need focus groups and voter profiles because I knew those voters, and knew their families, too. Before I became governor of the great state of Alaska, I was mayor of my hometown.

And since our opponents in this presidential election seem to look down on that experience, let me explain to them what the job involves.

I guess a small-town mayor is sort of like a 'community organizer,' except that you have actual responsibilities. I might add that in small towns, we don't quite know what to make of a candidate who lavishes praise on working people when they are listening, and then talks about how bitterly they cling to their religion and guns when those people aren't listening."

Speaking little on what she has done, she took the time to talk about what McCain-Palin would do in Washington.

"And I've learned quickly, these past few days, that if you're not a member in good standing of the Washington elite, then some in the media consider a candidate unqualified for that reason alone.

But here's a little news flash for all those reporters and commentators: I'm not going to Washington to seek their good opinion - I'm going to Washington to serve the people of this country. Americans expect us to go to Washington for the right reasons, and not just to mingle with the right people.

Politics isn't just a game of clashing parties and competing interests.

The right reason is to challenge the status quo, to serve the common good, and to leave this nation better than we found it."

One way that Palin states how they would do that is energy independence.

"To confront the threat that Iran might seek to cut off nearly a fifth of world energy supplies... or that terrorists might strike again at the Abqaiq facility in Saudi Arabia... or that Venezuela might shut off its oil deliveries... we Americans need to produce more of our own oil and gas.

And take it from a gal who knows the North Slope of Alaska: we've got lots of both.

Our opponents say, again and again, that drilling will not solve all of America's energy problems - as if we all didn't know that already.

But the fact that drilling won't solve every problem is no excuse to do nothing at all.

Starting in January, in a McCain-Palin administration, we're going to lay more pipelines... build more nuclear plants... create jobs with clean coal... and move forward on solar, wind geothermal, and other alternative sources.

We need American energy resources, brought to you by American ingenuity, and produced by American workers."

The opposition, Barack Obama, spoke little of how his adminstration would help this growing concern of removing our dependance on foreign oil and focused more on an empty "promise." What did Sarah Palin say about Barack Obama?

"We've all heard his dramtic speeches before devoted followers.

But listening to him speak, it's easy to forget that this is a man who has authored two memoirs but now a single major law or reform - not even in the state senate.

This is a man who can give an entire speech about the wars America is fighting, and never use the word 'victory' except when he's talking about his own campaign. But when the cloud of rhetoric has passed... when the roar of the crowd fades away... when the stadium lights go out, and those styrofoam Greek columns are hauled back to some studio lot - what exactly is our opponent's plan? What does he actually seek to accomplish, after he's done turning back the waters and healing the planet? The answer is to make government bigger... take more of your money... give you more orders from Washington... and to reduce the strength of America in a dangerous world. America needs more energy... our opponent is against producing it."

As most "hockey moms" know, speeches aren't what they want to hear, they want to hear what will help their families. They also want to know how the government will work for and with them, not against them. And one way that Washington works against Americans is taxes.

"Taxes are too high... he wants to raise them. His tax increases are the fine print in his economic plan, and let me be specific.

The Democratic nominee for president supports plans to raise income taxes... raise payroll taxes... rasie investment income taxes... raise the death tax... raise business taxes... and increase the tax burden on the American people by hundreds of billions of dollars.

How are you going to be better off if our opponent adds a massive tax burden to the American economy?"

Sarah then offers a way for Americans to "look at the coice [they] face in this election."

"In politics, there are some candidates who use change to promote their careers. And then there are those, like John McCain, who use their careers to promote change.

Among politicians, there is the idealism of high-flown speechmaking, in which crowds are stirringly summoned to support great things. And then there is the idealism of those leaders, like John McCain, who actually do great things.

My fellow citizens, the American presidency is not supposed to be a journey of 'personal discovery.' This world of threats and dangers is not just a community, and it doesn't need an organizer.

For a season, a gifted speaker can inspire with his words. For a lifetime, John McCain has inspired with his deeds."

There is no doubt that Sarah Palin delivered a great speech that will go down in the history books, but also did something that the Republican party needed. She did something that Barack Obama has only spoke about doing. Sarah Palin did something that America asked for:

U-N-I-T-Y !

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The Argument for Palin

Currently there is much debate circling around the media about the fact that Sarah Palin's 17 year old daughter is pregnant. While this is not a rumor, and is very much a truth, what is more important is how the campaign and the Palin family is handling this issue.

Much should be said about how this is being handled. The Palin family didn't skirt the issue, but rather made a statement that it was not a rumor and announced the truth behind it. This says much about what and who this woman is. It furthers her Conservative idealistic views about abortion and family. She has made it a fact that she is in opposition about abortion, having made the decision for herself. Being a mother of five, one of which has Downs Syndrome, she has made family a top priority.

With those five children, the oldest being 19 and the youngest at 4 months, family has always been a top priority. When asked about her youngest having Downs Syndrome, she rejects sympathy citing him as a gift from God as are all her children, and her soon to be grandchild. Hearing Sarah Palin refer to God, also brings to light that she is a faith-based person and a bible-hugging Christian. What else does being a bible-hugging Christian believe? They believe that the issue over global warming is not caused by humans and knows that it is just the life cycle of Earth. They oppose stem cell research. They oppose same-sex marriage believing that marriage must be between a man and a woman.

Although these are all hot topics that Conservatives hold to, there are many more stances that are brought up at debate time namely the economy, Constitutional rights, and the war. Constitutionally, Palin supports the second amendment for the right to bear arms. She supports it so much, that she is a life long member to the National Rifle Association (NRA). In support of the war, she has traveled overseas to visit the troops in the battlefield and the hospitals in which many of them are recovering from defending our freedom. Also, her oldest son enlisted in the U.S. Army to protect our freedoms.

With regards to Sarah's stance on the economy, she has a proven record of cutting taxes and making budget cuts. So much so, that she even reduced her own salary.

Another issue that many people will question is where Palin stands on energy. Tirelessly, she has promoted energy independence and supports the search of resources in the Alaskan National Wildlife Refuge (ANWR).

So, what does all this mean? The argument for Sarah Palin is great. Sarah Palin is great. She is a great person, woman, wife, mother, and soon-to-be grandmother. She will also be an excellent Vice President for John McCain and America.

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