Bush Prepares to Ask for Second Tranche of Bailout Funds; "coordinated with Obama transition team"

[DeepModem Mom]

Source: Washington Post

In a move being coordinated with the Obama transition team, senior Bush administration officials are preparing to ask lawmakers for the second half of the $700 billion financial rescue package, despite intense opposition in Congress, sources familiar with the matter said.

The initiative, if it goes ahead, could create an unusual political straddle between the Bush and Obama administrations. If Congress were to vote down the measure, either President Bush or Obama might have to exercise a veto in order to get the money. While Obama officials prefer that current administration issue a veto, the White House is declining to address that question.

Democratic Senate aides were notified in a meeting this afternoon that the request could come as soon as this weekend and that a vote could be held as soon as next week, congressional sources said.

Under the emergency rescue legislation approved by Congress in October, the administration must inform lawmakers that it wants access to the second installment of $350 billion. Unless Congress passes a resolution rejecting the request within 15 days, the Treasury can begin to tap the funds. If Congress does turn down the request, the president could veto the resolution and then the Treasury could proceed.

The plan now being crafted by the Bush administration is not finalized. By unsheathing the veto threat, the Bush administration could make it more likely that the Obama administration would get the rest of the rescue funds. Only if Congress overrides the veto would the money be blocked. A congressional source said advocates of the plan are now exploring whether there are enough votes in the Senate to sustain a veto....

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2009/01/09/AR2009010902846.html?hpid=topnews

[NOW tense]

1. kick his ass out the door.

[LakeSamish706]

2. I hope Congress withholds it until after Obama takes office or it's going to get...

pissed away again.

[w4rma]

3. They had better not pass any bill until the 20th. (nt)

[ForPeace]

4. Does this make sense?

"If Congress were to vote down the measure, either President Bush or Obama might have to exercise a veto in order to get the money."

If Congress votes the measure down -what's to veto. The President can't veto an un-passed measure and make it pass! If he can we're really in trouble!

[No Elephants]

23. I was wondering the same thing myself. For that matter, if Congress simply

does not act on his request, what's to veto? I veto your inaction? I veto your no? But, watch, Dummya will endgame them. He always has.

[RUMMYisFROSTED]

27. And more nonsense:

Unless Congress passes a resolution rejecting the request within 15 days, the Treasury can begin to tap the funds.

Chimp has 10 days left. 15-10=5. 5 days too late. :wtf:

[Baby Snooks]

5. Robbing the customers as you leave the bank....

The Bush Boys are like a band of bank robbers who having cleaned out the teller cages and the bank vault have decided to rob the customers as well on their way out of the bank. And no doubt they will get away with it. With a little help from the bank guards aka Nancy Pelosi and Harry Reid and the new bank president aka Barack Obama who walked in on the bank robbers and apparently doesn't have a problem with the customers getting robbed as well. After all, the bank is insured so to speak.

Has anyone stopped to count up their take so far? According to some estimates by Wall Street itself, around $10 trillion. Most of that from the Federal Reserve. So it's really not "our" money. But, well, if the banks go under, well, the taxpayers pay back the Federal Reserve although in all likelihood they will anyway through higher fees and higher interest rates. It may seem like we have low interest rates. Until you realize what the interest rate on the "loans" from the Federal Reserve are. We have become a giant ATM for the country. It is "our" money. Despite everyone wanting to believe it's not.

Has anyone bothered to explain to Barack Obama what the word "change" means?

[BlueJac]

6. Fuck the loser

[MsLeopard]

7. Are you sh*tting me??

Why not try one more heist before skipping town with the spoils? It's worked every time for the past eight years. Sadly, I predict a complete fold by the so-called "opposition" party - and we'll watch as they bow before the emperor. :puke:

[UpInArms]

8. we know they are lying because their lips are moving

09/26/03: (Information Clearing House) The last tax cut enacted by the
George Bush’s Republican-led Congress was supposed to create 1,000,000
(one million) jobs. The truth has been quite the opposite. Jobs have
been evaporating from all sectors of the economy. More than 500,000 were
lost in the last quarter alone.

Iraq was “capable” of a “mushroom cloud” over American cities. The truth
has been shown by more than 3,000 US inspectors who have turned up
nothing – dirt, dooda, zippo, nada.

The only way to have “healthy forests” is to cut down all the trees. Hmm
. . Think about that one for yourselves. You, dear readers, are bright
and thinking most of the time. I can count on you to not miss the forest
for the trees.

Iraq is such a “success” and the “mission accomplished” is so wonderful
and going so swimmingly we just want to share the wonderful feelings of
“liberating” the Iraqis with our dearest friends, the French and the
Germans. As long as they want nothing to show for their efforts but dead
soldiers, that is.

We will “leave no child behind” as long as that child needs no food,
shelter, education or a nurturing environment to grow up into.

We will be “compassionate” as we make certain that there is no industry
that cannot allow the “market” to develop for a greedy corporate beast
that pays no taxes (only collecting "subsidies") and we will forego all
regulations (except "self regulation"), because we know that there are
no CEOs or CFOs or Boards of Directors that will allow negative things
(like faulty products or services) to occur.

We have been shown that George’s and Dick’s best friends, Kenny Boy Lay
and Halliburton, have only the best for the taxpayer and consumer in mind.

We know that Colin Powell had voluminous pages of lies to wave in front
of the United Nations Security Council in February. But we had an evil
dictator to overthrow – never mind that the highest officers of our
country lied about why we went into Iraq.

Our national debt is expanding to the tune of One Billion Six-Hundred
Million Dollars ($1,600,000,000,000) a day – everything is going to be
rosy in the next quarter – recovery (even if it’s jobless) is occurring
right before your very eyes!

If you don’t see it, it’s because that darn ‘libral’ media is just
neglecting to tell you the good things! You know those people that sit
around the tree holding hands and singing KumBaya, they only tell you
the negative stuff. Stuff like dead soldiers and wounded servicemen and
women - the ones wearing kevlar vests, so if they’re wounded, it usually
means they’ve lost arms or legs or had a massive head injury. The
‘libral’ media is just fixated on death and destruction, don’t cha know?

I heard a really funny one today. The Bush administration has told Iran
that they have “one last chance” to get in line and if they don’t do
what George wants, then he is going to tell that irrelevant United
Nations on them! Don’t you think that will be a hoot? I’m just certain
those other countries are going to sanction another war (they didn’t
sanction the last one George started)?

With a mere fifteen months to go to the November 2004 election, we the
voting public can only look forward to more joy and bliss under the
reign of “King George.”

I would tell you to rest easy, we can vote him out of office, but I fear
that the electronic voting machine community has decided to rally round
George and circle their wagons. With millions of taxpayer dollars being
used to purchase machinery that has been proven unreliable, with no
paper trail to verify the votes, with software that is easily corrupted,
and tallies that can be manipulated, we may be in much more trouble than
any of us can imagine.

Diebold, E S & S, Sequoia and Science Applications International
Corporation have one thing in common – these companies are owned and
operated by heavy hitters in the Republican party.

I shall only add, five years later, that someone could see beyond the end of their nose (me and many others) and this crap is getting old and we are getting tired of being sold the same bill of goods that contains empty containers and "new and improved" more expensive packaging with less contents

the Obama camp better be prepared to take the heat

[ShortnFiery]

9. The Rulers are all part of The Big Club ... and we're NOT in it.

:grr: :(

[DogPoundPup]

10. Bush Prepares Request for Rest Of Bailout Funds If Congress Votes Down Measure, Veto Power .....

Source: Washington Post

Senior Bush administration officials, consulting with the Obama transition team, have prepared a plan to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress, sources familiar with the discussions said.

The initiative could create an unusual political scenario straddling the Bush and Obama administrations. If Congress were to vote down the measure, either President Bush or Obama would have to exercise a veto to get the money.

Obama officials would prefer that Bush exercise any veto rather than leave the new president with the unsavory task of rebuffing his fellow Democrats in Congress to advance a widely unpopular program, sources said. The White House has declined to say publicly whether Bush would be willing to issue the veto.

"There have been discussions between the administration and the transition team on how to proceed should the president-elect determine that he would like President Bush to notify Congress on his behalf of the intent to use the remaining $350 billion so that it will be available early in the new administration," White House press secretary Dana Perino said. "No final decisions have been made."

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2009/01/09/AR2009010902846.html

[aquart]

11. More free money for uberrich bankers?

Or has something radically changed in this program?

[Idealism]

14. They may try to modify mortgages

Citi said they would be willing to do so, the other day, along with MBA behind the measure too. They were against it before. I must add, however, that the FDIC's attempts at modifying mortgages resulted in a 60% re-default rate, so it is definitely not the end-all answer.

Other than that, I doubt there will be a different approach from the Bush regime on this matter.

[aquart]

20. Ten more days.

[lonestarnot]

28. Doesn't anyone in D.C. know how to manage time?

Piss!

[sam sarrha]

12. THAT PIECE OF SHIT WET BRAIN ALCOHOLIC NARCISSISSY has NO F'n SHAME..just say NO

[Mojorabbit]

13. I know things are real bad

but another shoe must be ready to drop if there is such urgency to not wait till the official changeover. Something is really off.

[fla nocount]

15. "They" are out. "They" want the silverware as they leave.

It'll years before they'll get another chance and they're banking up against a bleak future. Hard to blame them for them being smart really, we'll have to blame them for something else.

[DogPoundPup]

16. For sure, several things...the first being ACCOUNTING FOR HOW BANKS SPENT THE FIRST

$350 BILLION!!!

Where Did Taxpayer Money Go? Panel Slams Treasury
http://abcnews.go.com/Business/Economy/story?id=6606296&page=1

[Fearless]

17. Always hear them out before denouncing.

It's just common sense. They may be dead wrong with what they want to do, or they may make sense. I'll wait before I make rash judgments.

[No Elephants]

18. Congress gave Bush and Paulson too much power too fast, without putting enough

conditions. The banks got the money and they're still not lending. So, what did we accomplish?

[w4rma]

19. This BS is why I don't trust Barney Frank one bit with economic matters. (nt)

[No Elephants]

24. Vote down what measure? Bush can make a request that Congress act, but he cannot

introduce a bill in Congress. Since when is a request from a President a measure that Congress has to vote on, one way or another? I don't get it.

[AzDar]

21. The Final Fleecing. Obama needs to STOP this shit.

[No Elephants]

25. Congress needs to make sure Bush does not get the money. Obama has nothing to do with it.

[ProgressIn2008]

29. Why would he stop this shit? He supported the bail-out and so did many Dems. nt

[No Elephants]

22. FILIBUSTER. Go, Senator Byrd, go! Drone on until after the Inauguration/

[Gin]

26. he wants to complete the heist before he leaves....

[SnoopDog]

30. What Congress does with this request will dictate how the next 4 years will be...

It is the most simply answer our Congress has to answer - NO, you cannot have the $350 billion, nothing has been improved,
banks have basically pocketed the money, and America is in Depression.

If Reid and Pelosi allow Bush to steal this final $350 billion, we will all know that our government, including all Republicans and
a majority of Democrats, are out to destroy our country.

There is no legitimate reason to turn over badly need funds to the most corrupt administration ever. America needs this money to help our country.
If Reid and Pelosi cave in, like they have for the last 8 years, Obama stands no chance in succeeding. Not only that, we as America and Americans will
fail.

Betrayal. It is the most severe of all human acts - to have unlimited and deserving trust in someone only to have that someone stab you in the back.

The unfortunate reality - AMERICANS just can't be bothered to rise up and stop ANYTHING - the war crimes, the killings, the theft of our Treasury,
the mass destruction of the middleclass, NOTHING.

With nobody stopping them - even the Democrats will walk all over us.