Breaking News !!! House Votes to BLOCK THE 2nd Release of TARP!! But thanks to the Senate, The People are again SCREWED!!
More to come - Vote Just Concluded!!
YEAs 270
NAYs 155
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Source: http://www.cqpolitics.com/wmspage.cfm?docID=cqmidday-000003015040
House Votes To Block Release of More Bailout Funds, But Gesture Is Hollow
The House passed a resolution of disapproval Thursday designed to block release of the second half of the $700 billion financial bailout fund. But the vote will have no substantive impact.
The House by 270-155 passed the resolution, but the measure has virtually no chance of becoming law. The Senate last week rejected a similar resolution, thus allowing the Obama administration to tap the remaining $350 billion in the Troubled Asset Relief Program (TARP) created last fall.
The remaining funds will be released on Jan. 27.
The program has been widely criticized by members of both parties, and Thursday’s vote gave House members a chance to vent their dissatisfaction and align themselves with the sentiments of their constituents.
“This is kind of a big public opinion poll for the House,” said House Financial Services Chairman Barney Frank , D-Mass., who helped craft the bailout law.
Under the law, once the administration requested the second half of the fund, Congress had 15 days in which to adopt a resolution of disapproval — a resolution that would still be subject to a presidential veto.
President George W. Bush asked for the remaining funds — at the request of the incoming Obama administration — on Jan. 9.
“What is particularly troublesome is that President Obama was elected on the promise of bringing change, but another $350 billion is not change,” said North Carolina Republican Virginia Foxx , the sponsor of the House resolution. “The reasoning seems to be that since President Bush got his slush fund, it’s only fair to grant the same to the incoming administration, but as I say, two wrongs don’t make a right.”
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You can tell your children to thank this pig.
YEAs 270
NAYs 155
--------------------------------------------------------------------------------------------------------------------------
Source: http://www.cqpolitics.com/wmspage.cfm?docID=cqmidday-000003015040
House Votes To Block Release of More Bailout Funds, But Gesture Is Hollow
The House passed a resolution of disapproval Thursday designed to block release of the second half of the $700 billion financial bailout fund. But the vote will have no substantive impact.
The House by 270-155 passed the resolution, but the measure has virtually no chance of becoming law. The Senate last week rejected a similar resolution, thus allowing the Obama administration to tap the remaining $350 billion in the Troubled Asset Relief Program (TARP) created last fall.
The remaining funds will be released on Jan. 27.
The program has been widely criticized by members of both parties, and Thursday’s vote gave House members a chance to vent their dissatisfaction and align themselves with the sentiments of their constituents.
“This is kind of a big public opinion poll for the House,” said House Financial Services Chairman Barney Frank , D-Mass., who helped craft the bailout law.
Under the law, once the administration requested the second half of the fund, Congress had 15 days in which to adopt a resolution of disapproval — a resolution that would still be subject to a presidential veto.
President George W. Bush asked for the remaining funds — at the request of the incoming Obama administration — on Jan. 9.
“What is particularly troublesome is that President Obama was elected on the promise of bringing change, but another $350 billion is not change,” said North Carolina Republican Virginia Foxx , the sponsor of the House resolution. “The reasoning seems to be that since President Bush got his slush fund, it’s only fair to grant the same to the incoming administration, but as I say, two wrongs don’t make a right.”
----------------------------------------------------------------------------------------------------
You can tell your children to thank this pig.
Comment
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Comment by 7R33SandR0P3S on January 22, 2009 at 3:21pm
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Hyperinflation - Rep. Dan Burton explains -1-22-09
Find more videos like this on 12.160Mhz ... Resisting the New World Order
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STOP!! STOP DEVALUING MY DOLLAR!!
A REVOLTING OUTCOME!!
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Comment by truth on January 22, 2009 at 1:33pm
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Awesome!
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
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