Poisoning the Well with a few Bitter Words

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Obama Seen as Out of Touch on Bailout Vote

September 30, 2008

McCain camp says Obama not leading

Posted: 08:20 AM ET
From CNN Ticker Producer Alexander Mooney

(CNN) — John McCain's campaign is seizing on the prepared text of Barack Obama's speech Monday in Denver, saying it shows the Illinois senator has been "out of touch" with the unfolding financial crisis and congress' economic bailout plan. (Read the prepared text [PDF])

In the text distributed by the Obama campaign Tuesday morning, Obama was to say, "And today, Democrats and Republicans in Washington have agreed on an emergency rescue plan."

But moments before Obama was set to take the stage in Denver, the House officially rejected the bailout plan, prompting a delay in the Illinois senator's rally and a change in his comments on the bill:
"I am confident we are going to get there but it's going to be sort of rocky. It's sort of like flying into Denver. You know you're going to land but it's not always fun going over those mountains," he said.

McCain spokesman Tucker Bounds suggested the fact the Obama thought the measure would pass was a sign the Illinois senator was not closely involved in helping coral support for the bailout plan.
"When Barack Obama released remarks today that praised the passage of America's economic rescue plan, just before his allies in Congress voted to kill it, it revealed just how out of touch Barack Obama has been during this crisis," Bounds said, adding Obama has "shown failed leadership we can't afford."

In his own rally Monday morning before the House officially rejected the bailout plan, McCain did not suggest the bill would pass but touted his role pushing members of his party to vote for it.
"I've never been afraid of stepping in to solve problems for the American people, and I'm not going to stop now," he said. "Sen. Obama took a very different approach to the crisis our country faced. At first he didn't want to get involved. Then he was monitoring the situation."

The McCain campaign also suggested Thursday Obama deserved much of the blame for the bill's failure, saying the Democratic presidential nominee "put politics ahead of country."

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ACORN Too MUCH to SWALLOW

One Of The 50 Richest … Pelosi: Financial Bailout Talks Back On Track For ACORN

September 27th, 2008

Save us, Nancy. Save us.

And how about a little ACORN with that credit crisis face-lift …

WASHINGTON - U.S. House Speaker Nancy Pelosi said on Friday that negotiations over a proposed $700 billion Wall Street bailout plan is back on track and lawmakers would work through the weekend to pass a plan.
Pelosi, a California Democrat, and Massachusetts Democrat Rep. Barney Frank, chairman of the House Financial Services Committee, said negotiators made progress all week on the legislation they hope will end a credit freeze and avert a deep downturn in the U.S. economy.

Talks faltered on Thursday after conservative House Republicans unveiled an alternative to a taxpayer-funded bailout. Frank said congressional negotiators are still focusing on altering the plan proposed by Treasury Secretary Henry Paulson. Pelosi ruled out a cut in capital gains tax that was included in the House plan.

(Reuters)
From - House Republican Leader John Boehner:
Dems Want to Reward Scandal-Tarnished “Community Organizing” Group in Economic Rescue BillHouse GOP Fights to Remove ACORN Slush Fund from Economic Rescue Bill; Poison-Pill Proposal Would Ask Taxpayers to Bankroll Group Accused of Voter Fraud Nationwide

Washington, Sep 27 - House Republicans have made clear that they will fight for an economic rescue package that protects the interests of families, seniors, small businesses, and all taxpayers. And as discussions continue in order to forge an agreement that reflects these principles, the American people are taking note of a left-wing giveaway Democrats are pushing to force taxpayers to bankroll a slush fund for a discredited ally of the Democratic Party. At issue is the Association of Community Organizations for Reform Now – better known as ACORN – an organization fraught with controversy for, among other scandals, its fraudulent voter registration activities on behalf of Democratic candidates. Here are just some examples of ACORN’s most recent scandals and unlawful activities:
- “ACORN is a long-time advocacy group with whom Obama was once associated. Recently, though, ACORN workers in two states have pleaded guilty to election fraud, an unlikely recipient of federal largess.” (Fox News Report, 9/26/08)
- “Seven ACORN workers were charged with ‘committing the biggest voter-registration fraud in [Washington] state history.’’ (The Seattle Times, 7/26/07)
- ACORN workers submitted “just over 1,800 new voter registration forms, but there was a problem. The names were made up – all but six of the 1,800 submissions were fakes… The ACORN workers told state investigators that they went to the Seattle public library, sat at a table and filled out the voter registration forms. They made up names, addresses, and Social Security numbers and in some cases plucked names from the phone book. One worker said it was a lot of hard work making up all those names and another said he would sit at home, smoke marijuana and fill out the forms.” (Fox News Channel, 5/02/08)
- “Late last year, a handful of Acorn canvassers in Washington state admitted that they had falsified voter registrations by illegally filling out hundreds of forms with names such as Dennis Hastert, Leon Spinks and Fruito Boy Crispila.” (Wall Street Journal, 7/31/08)
- “Eight workers for a get-out-the-vote effort in St. Louis city and county have pleaded guilty to federal election fraud for submitting false registration cards for the 2006 election, authorities said today. The workers were employed by the Association of Community Organizations for Reform Now (ACORN), gathering voter registrations.” (Associated Press, 4/02/08)
- “Acorn has had a number of missteps. This month its founder, Wade Rathke, resigned after news emerged that his brother Dale had embezzled nearly $1 million from Acorn and affiliated groups eight years ago — information the group kept from law-enforcement authorities and most members. Dale Rathke left the organization only last month.” (Wall Street Journal, 7/31/08)
So how exactly will ACORN be rewarded if the Democrats get their way? Very simple: behind closed doors, ACORN-friendly language was slipped into the Democratic economic rescue proposal by Senate Banking Committee Chairman Chris Dodd (D-CT) and House Financial Services Committee Chairman Barney Frank (D-MA). Take a look:

http://patdollard.com/2008/09/one-of-the-50-richest-pelosi-financial-bailout-talks-back-on-track-for-acorn

BREAKING NEWS: BAILOUT REJECTED!!!!

BAILOUT REJECTED

House Votes ‘No,’ 228-205; Stocks Plunge
House Rejects Bailout Package, 228-205; Stocks Plunge

Leaders Fail to Convert Opponents

By CARL HULSE and DAVID M. HERSZENHORN 20 minutes ago
In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.

Roll Call Post a Comment Read (438)
Dow Falls More Than 400 Points
By MICHAEL M. GRYNBAUM 34 minutes ago
The drop reinforced the fear coursing through Wall Street as investors wondered whether the bailout plan would eventually pass Congress.

Lehman to Sell Neuberger Unit for $2.15 Billion 12:31 PM ET

Ruth Fremson/The New York Times

Citigroup Buys Bank Operations of Wachovia
By ERIC DASH and ANDREW ROSS SORKIN 12:13 PM ET
The sale would further concentrate Americans’ bank deposits in the hands of just three banks: Bank of America, JPMorgan Chase and Citigroup.
Times Topics: Citigroup Wachovia
Oil Falls Sharply on Renewed Economic Fears
By JAD MOUAWAD 14 minutes ago
Crude oil futures fell $9.13 to $97.76 a barrel. They have lost more than $20 since last Monday.

White House, Congress push for bailout deal -- Courant.com

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White House, Congress push for bailout deal -- Courant.com: "From the Los Angeles Times
FINANCE
White House, Congress push for bailout deal
By RICHARD SIMON Los Angeles Times
September 28, 2008

WASHINGTON — - Working past midnight, Congressional negotiators early today reported a tentative deal on a Wall Street bailout, in hopes of reaching an agreement before financial markets open Monday.

House Speaker Nancy Pelosi announced the accord just after midnight but released no details, saying it still had to be put on paper. Treasury Secretary Henry Paulson talked of finalizing the deal — which could cost as much as $700 billion — but added: 'I think we're there.'

The House could vote on it today and the Senate on Monday.

As bipartisan talks resumed at the Capitol — and under a greater sense of urgency — President Bush had stepped up his efforts to win the support of skeptics within his own party for the plan.

Paulson joined the talks between members of both parties from both chambers; House Minority Whip Roy Blunt of Missouri, whose Republican rank and file have been the plan's loudest critics, reported progress.

Sen. Judd Gregg of New Hampshire, the Senate Republicans' lead negotiator, said that the parties had moved 'down the road a long way toward reaching agreement.'

Some House Republicans had argued against setting an arbitrary deadline for action.

'By irresponsibly raising investors' expectations of an agreement, the failure of Congress to reach a deal by such a deadline could spark the very economic meltdown we are trying to stop,' said Rep. Thaddeus McCotter, R-Mich."

http://www.courant.com/news/nationworld/hc-finance0928.artsep28,0,3083943.story