Kucinich: Is this the United States Congress or the board of directors of Goldman Sachs?”

[IndianaGreen]

Kucinich: Opposes Bailout and Asks: "Is this the United States Congress or the board of directors of Goldman Sachs?”

Rep. Dennis Kucinich

Washington, Sep 28 -

Congressman Dennis Kucinich (D-OH) today made the following speech on the floor of the House of Representatives regarding the proposed Wall Street bail out:

“The $700 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered. Why aren't we having hearings on the plan we have just received? Why aren't we questioning the underlying premise of the need for a bailout with taxpayers' money? Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren't we asking Wall Street to clean up its own mess? Why aren't we passing new laws to stop the speculation, which triggered this? Why aren't we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?

“Why aren't we helping homeowners directly with their debt burden? Why aren't we helping American families faced with bankruptcy. Why aren't we reducing debt for Main Street instead of Wall Street? Isn't it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls.

http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentID=103918

[Coexist]

1. was he part of the marathon sessions the past week?

did he ask any of those questions while the sessions were going on?

[lostnotforgotten]

3. From What I Can Tell He Was Not Involved

eom

[Coexist]

4. thanks. eom

[IndianaGreen]

6. He wasn't part of those sessions; and neither were McCain and Obama

We are the ones being ask to bailout the banks while the banks are opposed to, and succeeded in getting Reid and Pelosi to drop a provision allowing bankruptcy judges to lower the mortgage payments of people in financial distress. Screw the whole lot of them appeasers of Wall Street!

[lostnotforgotten]

11. Screw The Appeasers - I Agree - The Very Same That Were To Stop the War In Iraq

eom

[Coexist]

13. there is some stuff in place, and an Obama administration would have a say in who oversees it:

Homeownership Preservation

EESA requires the Treasury to modify troubled loans – many the result of predatory
lending practices – wherever possible to help American families keep their homes. It
also directs other federal agencies to modify loans that they own or control. Finally, it
improves the HOPE for Homeowners program by expanding eligibility and increasing
the tools available to the Department of Housing and Urban Development to help more
families keep their homes.

Overseeing the program:

The bill would establish two oversight boards.

The Financial Stability Oversight Board would be charged with ensuring the policies implemented protect taxpayers and are in the economic interests of the United States. It will include the Federal Reserve chairman, the Securities and Exchange Commission chairman, the Federal Home Finance Agency director, the Housing and Urban Development secretary and the Treasury secretary.

A congressional oversight panel would be charged with reviewing the state of financial markets, the regulatory system and the Treasury's use of its authority under the rescue plan. Sitting on the panel would be 5 outside experts appointed by House and Senate leaders.

...

Doling the money out: The $700 billion would be disbursed in stages, with $250 billion made available immediately for the Treasury's use. Authority to use the money would expire on Dec. 31, 2009, unless Congress certifies a one-year extension.

[JohnMcCant2008]

2. Nice guy - Very smart - I met him and was a supporter early in the primaries.

[lostnotforgotten]

7. He Is Basically Saying To Slow Down - No One Has Convinced Me There Is Actually A Crisis

See more at DU here:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4114798

[slinkerwink]

5. Kucinich does not get it.

[lostnotforgotten]

8. So Says You - Small Banks Are Doing Fine - What Crisis

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4114798

[IndianaGreen]

9. Dennis gets it! You all being stampeded by fear, just as you were stampeded on PATRIOT and Iraq

We ain't buying this bill of goods!

[jrockford]

14. why? nt

[Eric J in MN]

16. Yes, he does. We should go slow, not be ruled by fear. NT

NT

[Curtland1015]

10. Why don't we turn the moon into gold!?

Why not just give every tax payer candy an hugs and thousand dollar bills? Why not just steal the money from the leprachaun at the end of the rainbow? Why can't we just have money out of nowhere? Where is my magic dragon? Where are my pills!!!???

[1corona4u]

12. Still pining over Kooch eh?

(hiding this stupid thread now...)

[IndianaGreen]

15. Vermonters (and Bernie Sanders) balky about bailout plan

Vermonters balky about bailout plan

September 28, 2008

By Josh O'Gorman Staff Writer

Thousands of Vermonters have expressed outrage at the proposed $700 billion Wall Street bailout, but few, it seems, are feeling the pinch at this point from the financial meltdown in New York.

More than 42,000 people have electronically signed a letter from U.S. Sen. Bernard Sanders, I-Vt., to U.S. Treasury Secretary Henry M. Paulson Jr. opposing the bailout. Of those, 7,000 to 8,000 of the signatories are from Vermont.

"What people are saying is that excessive greed should not be rewarded," Sanders said Saturday.

Among the signatories is Ed Canning, a 30-year resident of Rupert.

"This thing is being shoved down the throats of the taxpayers under the cloud of fear mongering without a clear idea of how the money will be used," Canning said. "It's beyond belief to me that this is the way it's being presented to the taxpayer."

"Banks have lobbyists who are very active right now, but who's lobbying on behalf of the taxpayers?" Canning asked. "If we're going to put this money back into the hands of the people who created this debacle, how do we know we're not paying too much?"

http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20080928/NEWS04/809280391/1024/NEWS04

Video of Sen. Sanders Senate statement:

http://www.sanders.senate.gov/news/record.cfm?id=303785

[girl gone mad]

17. Banks have lobbyists who are very active right now

I think we can see ample evidence of that right here on DU.

[ShortnFiery]

18. Go Dennis! One of the few Congress Critters who can't be bought off by K Street.

:patriot:

[windbreeze]

19. he had me cheering and yelling you go Dennis...tell 'em how we feel...n/t

[OwnedByFerrets]

20. Go Dennis...Go Bernie...at least you two get it!!