Monday, September 22, 2008

Rick Noriega Speaks Out On Bush's Bailout/Corporate Giveaway Scheme


Over the weekend when we posted statements from the Senate candidates in our Blue America contest, Rick Noriega was on active National Guard duty trying to help Texas recover from the devastation of Hurricane Ike. This morning he was able to add his voice to the caution being expressed by all the Blue America candidates about Bush's dangerous giveaway and the tendency of Insiders to get stampeded into supporting it (the way they were stampeded into supporting attacking Iraq). Rick:
"I am outraged that taxpayers are having to foot the $700 billion bill to clean up the mess made by greedy Wall Street investors and mortgage lenders. This is what happens when John Cornyn takes nearly $1.5 million from the perpetrators of the crisis, spends six years championing an anything goes culture on Wall Street, and abdicates his duty to protect Texans from Wall Street greed. Cornyn's special interest record is something Texans have come to expect but can no longer afford.
I believe:

• Any new bailout must contain provisions to help middle class Americans keep their homes and their retirement security. Americans need to hold Wall Street accountable for its failures, just as Americans need to hold their elected representatives accountable for their failures to address this before it became a $700 billion problem.

• The need for oversight and accountability of any new bailout is more important than ever. These firms are should not get a blank check from the taxpayers.

• We need to rein in the out of control pay and golden parachutes of the CEOs who got us into this mess."

If you didn't vote in the contest yet, please do. The winner gets $5,000 from Blue America and the runner up gets $1,000. Here's where you can vote. And, remember, only 28% of Americans think Bush's corporate giveaway disguised as an economic plan is the right way to proceed. The other 72% either agree with our candidates or are unsure.

As Bernanke prints money to give Bush Regime corporate cronies, oil has started to skyrocket again-- as investors shift into commodities-- and even some of the middle of the road followers in the Democratic caucus are starting to get suspicious now that they're reading the bill-- and seeing the building public sentiment against it. Matt's got a letter from a skeptical Brad Sherman, someone who usually just goes along to get along. Going along to get along isn't something anyone who knows Albuquerque Democratic candidate Martin Heinrich will ever expect. Heinrich is a real voice for the underdog and for regular folks-- as well as being an innovative thinker with a sense of vision. I suspect the corporatists from both sides of the aisle aren't going to be that thrilled about someone with such an independent way of thinking in Congress.

Martin's out-of-whack lunatic fringe opponent, Darren White

"Middle-class New Mexicans have been pushed to the breaking point by eight years of failed economic policies of the Bush Administration and this bailout unloads yet another burden onto the backs of hard-working New Mexicans. Darren White agreed with George W. Bush's economic policies and supports more of the same for our nation's economy.

"It's time for a change. It's time for economic policies that help middle-class New Mexico families and protect New Mexico taxpayers. It is outrageous that American taxpayers will bear the burden of an estimated $700 billion required to bail out greedy Wall Street executives and reckless mortgage lenders. The nation's financial crisis exposes the ineptitude and outright negligence of the Washington regulators George W. Bush charged with overseeing the financial industry.

"As part of this historic package, Congress needs to address the struggles of middle-class New Mexican families on Main Street and not simply hand over a blank check to irresponsible executives on Wall Street. A comprehensive package needs to include significant reforms to our current regulatory system, hold accountable those responsible for this financial crisis, and payback American taxpayers for any loan granted as a part of the rescue."

Although at first Bush and Paulson basically said that there would be "no deal" if Democrats insisted on taking away their cronies golden parachutes, they've backed away from that now. I mean it kind of sounds like "We'll bring on a Depression if the people who have been bribing us to get away with murder don't get paid back from the public purse." Chris Dodd, chair of the Senate Banking Committee and Barney Frank, chair of the House Financial Services Committee are starting to bring a little of sanity into the picture to protect the general public instead of just Bush and McCain campaign donors.


Cornyn is on the run, trembling and even talking about abandoning Bush and his corporate sponsors. Of course, for Cornyn, talk is always cheap. The likelihood of Cornyn not voting for the corporate giveaway is unthinkable, no matter how he wants to spin it for the media.


Hoyer's, Bean's and Emanuel's sick instincts to immediately give away the store and just go along with Bush and his (and their) corporate paymasters isn't working out that well. Not only are the America people fed up with the "plan"-- or scam-- already, Democratic members of Congress are promising their constituents they'll vote for them, not for Bush, the Republicans, Hoyer and what FDR used to call the banksters. Tim Ryan (D-PA) isn't exactly a radical but this was the line he drew in the sand for Bush and, more importantly, Hoyer this afternoon:
"I will not vote for a blank check to bailout Wall Street bankers. Any legislation must have vastly increased oversight and regulation of the financial services industry, prohibitions on excessive executive compensation, relief for homeowners facing foreclosure, and prohibitions on taxpayer money going to foreign banks.

"More importantly, every American should be outraged that the Bush Administration and the Republicans in Congress continually block small increases for education funding, expanded health care and increased middle-class tax cuts on the grounds that we can't afford them, yet when it's time to bailout the big money people on Wall Street, there's no time to spare and no check too large. If only we could get this kind of timely attention for gas prices, consumer protections and other initiatives that benefit average Americans."

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At 7:06 PM, Blogger Nate Stockard said...

Bush is screwing us twice. It is not bad enough that we had to suffer through a housing crunch, but now we have to pay for it again! I just wrote a blog with a few more facts, but I'm sure I will get a load of ignorant responses.


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