Emergency Economic Stabilization Act of 2008

I have not been paying close attention to how the voting has gone...I had assumed it would be more party-line, so I better check and see what is actually happening. Thanks for the tip.

fduvall

I checked — and I was wrong! The Republicans (allegedly Bush's party) were actually strongly against it, except for a handful of turncoats. Here it is from the House's own website : FINAL VOTE RESULTS FOR ROLL CALL 680

(Democrats in roman; Republicans in italic ; Independents underlined )

H RES 1525 YEA-AND-NAY 3-Oct-2008 10:34 AM

QUESTION: On Agreeing to the Resolution

BILL TITLE: Providing for consideration of the Senate amendments to H.R. 1424, Emergency Economic Stabilization Act of 2008.

---- YEAS 223 ---

Ackerman

Allen

Altmire

Andrews

Arcuri

Baca

Baird

Baldwin

Barrow

Bean

Becerra

Berkley

Berman

Berry

Bishop (NY)

Blumenauer

Bono Mack

Boren

Boswell

Boucher

Brady (PA)

Braley (IA)

Brown, Corrine

Butterfield

Calvert

Campbell (CA)

Capps

Capuano

Cardoza

Carnahan

Carson

Castor

Chandler

Childers

Clarke

Clay

Cleaver

Clyburn

Cohen

Conyers

Cooper

Costa

Courtney

Cramer

Crowley

Cuellar

Cummings

Davis (AL)

Davis (CA)

Davis (IL)

Davis, Lincoln

DeGette

Delahunt

DeLauro

Dicks

Dingell

Doggett

Edwards (MD)

Edwards (TX)

Ehlers

Ellison

Ellsworth

Emanuel

Engel

Eshoo

Etheridge

Farr

Fattah

Ferguson

Fossella

Foster

Frank (MA)

Giffords

Gillibrand

Gonzalez

Gordon

Green, Al

Green, Gene

Grijalva

Gutierrez

Hall (NY)

Hare

Hastings (FL)

Herger

Higgins

Hill

Hinchey

Hinojosa

Hodes

Holden

Holt

Honda

Hooley

Hoyer

Inslee

Israel

Jackson (IL)

Jackson-Lee (TX)

Jefferson

Johnson (GA)

Johnson, E. B.

Kagen

Kanjorski

Kennedy

Kildee

Kilpatrick

King (NY)

Klein (FL)

LaHood

Langevin

Larsen (WA)

Larson (CT)

Lee

Levin

Lewis (CA)

Lewis (GA)

Lipinski

Loebsack

Lofgren, Zoe

Lowey

Mahoney (FL)

Maloney (NY)

Markey

Marshall

Matheson

Matsui

McCarthy (NY)

McCollum (MN)

McCrery

McDermott

McGovern

McNerney

McNulty

Meek (FL)

Meeks (NY)

Miller (NC)

Miller, George

Mollohan

Moore (KS)

Moore (WI)

Moran (VA)

Murphy (CT)

Murphy, Patrick

Murtha

Nadler

Napolitano

Neal (MA)

Oberstar

Olver

Ortiz

Pallone

Pascrell

Pastor

Payne

Perlmutter

Peterson (MN)

Peterson (PA)

Pickering

Pomeroy

Price (NC)

Radanovich

Rahall

Ramstad

Rangel

Regula

Reyes

Richardson

Rodriguez

Rothman

Roybal-Allard

Ruppersberger

Rush

Ryan (OH)

Salazar

Sánchez, Linda T.

Sanchez, Loretta

Sarbanes

Saxton

Schakowsky

Schiff

Schwartz

Scott (GA)

Scott (VA)

Serrano

Sestak

Shea-Porter

Sherman

Sires

Skelton

Slaughter

Smith (WA)

Snyder

Solis

Speier

Spratt

Stupak

Sutton

Tauscher

Thompson (CA)

Tierney

Towns

Tsongas

Udall (CO)

Udall (NM)

Van Hollen

Velázquez

Visclosky

Walsh (NY)

Walz (MN)

Wamp

Wasserman Schultz

Waters

Watson

Watt

Waxman

Weiner

Welch (VT)

Wexler

Wilson (NM)

Wilson (OH)

Woolsey

Wu

Yarmuth

---- NAYS 205 ---

Abercrombie

Aderholt

Akin

Alexander

Bachmann

Bachus

Barrett (SC)

Bartlett (MD)

Barton (TX)

Biggert

Bilbray

Bilirakis

Bishop (GA)

Bishop (UT)

Blackburn

Blunt

Boehner

Bonner

Boozman

Boustany

Boyd (FL)

Boyda (KS)

Brady (TX)

Broun (GA)

Brown (SC)

Brown-Waite, Ginny

Buchanan

Burgess

Burton (IN)

Buyer

Camp (MI)

Cannon

Cantor

Capito

Carney

Carter

Castle

Cazayoux

Chabot

Coble

Cole (OK)

Conaway

Costello

Crenshaw

Culberson

Davis (KY)

Davis, David

Davis, Tom

Deal (GA)

DeFazio

Dent

Diaz-Balart, L.

Diaz-Balart, M.

Donnelly

Doolittle

Doyle

Drake

Dreier

Duncan

Emerson

English (PA)

Everett

Fallin

Feeney

Filner

Flake

Forbes

Fortenberry

Foxx

Franks (AZ)

Frelinghuysen

Gallegly

Garrett (NJ)

Gerlach

Gingrey

Gohmert

Goode

Goodlatte

Granger

Graves

Hall (TX)

Harman

Hastings (WA)

Hayes

Heller

Hensarling

Herseth Sandlin

Hirono

Hobson

Hoekstra

Hulshof

Hunter

Inglis (SC)

Issa

Johnson (IL)

Johnson, Sam

Jones (NC)

Jordan

Kaptur

Keller

Kind

King (IA)

Kingston

Kirk

Kline (MN)

Knollenberg

Kucinich

Kuhl (NY)

Lamborn

Lampson

Latham

LaTourette

Latta

Lewis (KY)

Linder

LoBiondo

Lucas

Lungren, Daniel E.

Lynch

Mack

Manzullo

Marchant

McCarthy (CA)

McCaul (TX)

McCotter

McHenry

McHugh

McIntyre

McKeon

McMorris Rodgers

Melancon

Mica

Michaud

Miller (FL)

Miller (MI)

Miller, Gary

Mitchell

Moran (KS)

Murphy, Tim

Musgrave

Myrick

Neugebauer

Nunes

Paul

Pearce

Pence

Petri

Pitts

Platts

Poe

Porter

Price (GA)

Pryce (OH)

Putnam

Rehberg

Reichert

Renzi

Reynolds

Rogers (AL)

Rogers (KY)

Rogers (MI)

Rohrabacher

Ros-Lehtinen

Roskam

Ross

Royce

Ryan (WI)

Sali

Scalise

Schmidt

Sensenbrenner

Sessions

Shadegg

Shays

Shimkus

Shuler

Shuster

Simpson

Smith (NE)

Smith (NJ)

Smith (TX)

Souder

Space

Stark

Stearns

Sullivan

Tanner

Taylor

Terry

Thornberry

Tiahrt

Tiberi

Turner

Upton

Walberg

Walden (OR)

Weldon (FL)

Weller

Westmoreland

Whitfield (KY)

Wilson (SC)

Wittman (VA)

Wolf

Young (AK)

Young (FL)

---- NOT VOTING 5 ---

Cubin

Gilchrest

Obey

Tancredo

Thompson (MS)

Here's evidence that marshal law was threatened if Congress didn't hurry up and pass the bailout bill:

http://www.youtube.com/watch?v=gnbNm6hoBXc

That's a heavy allegation - a threat of a coup d'etat. I often wonder if a coup d'etat already happened without anyone noticing.

BTW, that man is (was) my congressman. But notice he voted to pass the bill.

Nice to see that my former Ohio rep, Kucinich didn't vote for it.

Very scary, that cspan video, being threatened with martial law. I wonder if it was being used only as a scare mongering tactic, or if there were serious plans to implement it. After all, there's apparently a military presence (not national guard) on US soil for this eventuality that was put in place recently. Of course, against all laws and regulations as far as I'm aware.

Confirms what I already knew. Just shy of six years after moving to Switzerland, I made the totally correct decision.

...and it didn't happen, either. He was talking about what was threatened if they didn't pass the Monday version and, well, they didn't pass it, and four days later most of what was threatened (including marshal law) still hadn't happened, but they voted again and passed the Friday (porked-up) version anyway.

Yeah, the plausibility is definitely there.

Wishing I had done the same.

More interesting commentary on Americans' response to the bailout, excerpted from a column by Geoffrey Pike : "This last week, Americans awoke from a deep sleep. Or maybe they were already awake, but we didn’t know it yet. Congress got flooded with calls opposing the bailout. One Congressman said that the calls to his office were running 50–50; 50% no and 50% hell no. Although the majority of Americans still don’t understand inflation and the boom/bust cycle very well, they instinctively understood that Americans were being ripped off with this bailout and that the government officials were simply rewarding their friends on Wall Street who had failed. Even as far as rising prices, many more Americans are realizing that the cause is monetary inflation, although we probably don’t have a majority that understand this yet.

"We have a lot to be positive about. Now you may think that is crazy because Congress still passed the bailout bill, despite strong opposition from constituents. Now don’t expect all of these people to be voted out of office next month who voted "yes" on the bill, but this cannot go on forever. First of all, the empire is coming crashing down. Even if this weren’t the case, it won’t matter over time. Americans are becoming far more well informed than in the past. The internet allows us to communicate to each other quickly and effectively and expose many of the lies of the politicians. When a large number of Americans finally withdraw their consent, the government will no longer function as it does. It will come crashing down, much like the Soviet empire did.

"Americans are realizing in large numbers that the government is not their friend. With Congress defying the will of the people, it made people angrier. It basically shows the whole system as a sham and that we don’t have representative government.

"It has also been fun watching the news the last few weeks. I heard one commentator after another saying that they have to pass this bill, despite strong opposition by the people. Some were more direct than others in saying that "the people just don’t understand." But this time, the people understood all too clearly. No matter which way it was spun, the people understood that their own government was taking advantage of them. And on top of that, it exposed the elitist and out-of-touch mentality in the mainstream media (both Republican and Democrat)."

So were you here? It was a good speech. The auditorium was packed and they had to open up a second one.

And...? care to share? Haven't found anything online yet.

P.

Was his speech anything like this column ? Otherwise, would you care to provide a brief synopsis?

That column covers probably a quarter of the speech. I am in the process of writing an excerpt but given market conditions it's been pushed a bit on the back-burner.

Some thread housekeeping.

See thread:

Joseph Stiglitz to talk in Geneva

Because Art is sometimes more truthful:

Prof. Stiglitz also spoke in Zurich at a conference which swx Swiss Exchange organized. You can video all 55 minutes of his speech at

http://www.swx.com/events/idea_exchange_en.html

Bretton Woods is not working, other models are available based on self sufficient communities. They just need the work of neuroeconomists to make them palatable.

This lecture seems to me to be a toned down, paid for, lecture for bankers. It seems as if Stiglitz learnt his lesson about being outspoken when he got fired from the world bank for his support of the world trade protest movement in 2000. Then in 2000 he writes a book in defence of these establishments http://findarticles.com/p/articles/mi_m0BEK/is_/ai_94764304

St.Gallen is a conservative establishment. Bankers and hedge fund managers are beating their heads against a wall trying to figure out how to convince ‘ambiguity- averse investors’ to have confidence and reinvest. They are flogging a dead horse, or a dead head, because no-one is buying it. All such people will take away from this lecture is that the law of supply and demand always stays the same, and anyone who says that they have a new economic model is just masking something like the housing bubble. So they will create a new bubble, perhaps futures in new technologies, or energy, built on clay. They will package them nicely, backed them with skewed research from universities departments eager for funds.

More interesting to me are Stigler’s views on a return to local and self-sufficient communities and the importance neuroeconomics. I am also very happy that he is recommending Paul Voelker for the Obama team, but Voelker is 80 years old.

I hope that the attempts that initiatives at the grass roots level like non- for profit banks will eventually diffuse up. Multinationals cannot work without a public (law of supply and demand?) They will probably take two- pronged strategy; supporting parochial community projects and seeking opportunities abroad like the opening up of a quasi-Halliburton office in Tehran. St Gallen based bankers are in an ideal position to do both, if they can disentangle themselves from their present commitments.

If St Gallen hosted Stiglitz in 2000 when he was causing problems for the World Bank then I will eat humble pie.

What is remarkable to me about St Gallen is OIKOS founded in 1987. It started as a student based intitiative that has spread worldwide and to me is the way of the future.

Maybe other countries should follow the lead of the new King of Bhutan, who assesses his country's progress as his father did; in terms of Gross National Happiness.

The US jobless figures have been revised 525,000 in the last month- I wonder how they will stabilize the markets after that hits!