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The full text of the bill, more than 100 pages, is available at the websites of House Speaker Nancy Pelosi -- http://speaker.house.gov -- and the website of the House Financial Services Committee -- http://financialservices.house.gov -- though due to high demand both sites were experiencing overload late Sunday.
couldn't find the original anywhere
between this $700 billion payoff to Wall Street and the way Hillary Clinton was treated.....for the first time I will not vote for the Democrats in November.
WASHINGTON - The House prepared to adjourn for the year Monday with no deal on a major tax relief package, increasing the odds that businesses will lose out on critical tax breaks and millions could get hit by the alternative minimum tax this year.
Without congressional action, those affected by the AMT, originally aimed at just a few very rich tax dodgers, would grow from around 4 million to up to 26 million. Those hit by the tax, most earning less than $200,000, would pay an average extra tax of $2,000.
The solar industry alone has estimated that it could create more than 400,000 jobs if it receives an eight-year extension of its investment tax credit.
"With hundreds of thousands of American jobs and billions of dollars in clean energy investment at risk, we urge congressional leaders not to leave for the election recess" until reaching an agreement, the CEOs of national hydropower, geothermal, solar and wind energy associations said in a statement.
http://news.yahoo.com/s/ap/20080929/ap_on_go_co/tax_breaks;_ylt=Ah.kXKW0n84.rhomeidbmXkDW7oF
You can bet if there wasn't an election in 5 weeks it would have passed with plenty of room to spare.
what about the other 99 weeks until the next election?
thanks Nancy.
WASHINGTON - The Federal Reserve and foreign central banks moved Monday to pump billions of dollars to cash-strapped banks at home and abroad in a dramatic bid to break through a credit clog and spur lending.
The Fed said the action is intended to "expand significantly" the cash available to financial institutions, its latest effort to relieve the worst credit crisis since the Great Depression.
Under one new step, the Fed will boost the amount of 84-day cash loans available to U.S. banks. The Fed is increasing the amount to $75 billion, up from the current $25 billion starting on Oct. 6. Banks bid on a slice of the loans at an auction.
That move will triple the supply of 84-day loans to $225 billion, from $75 billion, the Fed said.
Meanwhile, the Fed will continue to make $75 billion worth of shorter, 28-day loans available to banks.
All told, the total amount of cash loans — 84-day and 28-day — available to banks will double to $300 billion from $150 billion, the Fed said.
Moreover, the Fed made an extra $330 billion available to other central banks. That boosted to $620 billion the total amount available to the central bank through currency "swap" arrangements, where dollars are traded for their currencies. That total is up from $290 billion previously being made available through such arrangements.
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Swiss National Bank and the central banks of Denmark, Norway, Australia and Sweden are involved in those swap arrangements.
http://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/fed_credit_crisis;_ylt=AlUmDBeiTEt05FCcwR7D_4Fv24cA
one of the most liberal states in the country. Granted there seem to be more young people involved in this election and then tend to be less racist. But if you don't think that effect is only going to multiply in more conservative states, your kidding yourselves.
Guess I missed that memo that said racism no longer affected people's votes.
Altogether, 56 senators and representatives had stakes in AIG, Lehman, Fannie Mae, Freddie Mac, Bear Stearns Cos. or IndyMac Bancorp Inc. -- some of the biggest casualties of the market bloodbath -- according to the Center for Responsive Politics.
http://news.yahoo.com/s/bloomberg/20080919/pl_bloomberg/asetgbxg0c0s_1
You can bet if there wasn't an election in 5 weeks the corporate welfare bill would have passed with plenty of room to spare.
"That's because the regulators who mind the financial industry -- the Federal Reserve, Treasury and FDIC -- will keep doing what they've been doing: stepping in to prevent the chaotic failure of banks and other large financial institutions".
As we saw with Washington Mutual, they will be bought out by another bank such as Citibank.
This is capitalism.....when a company fails it gets bought out by a healthier company. Why should we subsidize poorly run companies, whether they are a bank or not?
I understand many are losing money in the stock market and in their retirement accounts, mortgage worries, etc.
Half the people I know don't even have health insurance let alone a 401K or IRA.
I am part of the first generation in American history to do worse economically than their parents......welcome to our world.
Pull up a seat, this may take awhile.
the Bush administration took the surplus Bill Clinton gave the country and turned it into record debt.
I'm angry that Bush illegally invaded another country and started a war.
I'm angry that we are paying record prices for gas and oil companies are making record profits.
I'm angry that Nancy "impeachment is off the table" Pelosi and Henry Reid have given Bush everything he wants and refuse to hold him accountable for his illegal actions regarding wire tapping.
I'm angry that the best democratic candidate we have was smeared as a racist by Obama.
I'm angry at the way Democrats treat Bill Clinton (one of the best presidents of the 2oth century).
I'm angry that the Democratic nomination is decided by delegates who receive money from the perspective candidates instead of by a popular vote.
I'm angry that Wall Street is allowed to break the rules and create a huge financial nightmare and the politican's only response is to offer them over $700 billion in corporate welfare.
RAP