House Passes Homeowner Rescue Bill

President Drops Opposition To Law Granting Government Aid To Homeowners And Lenders

(CBS/ AP)  Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.

The 272-152 vote reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

Hours before the vote, President Bush dropped his opposition to the measure, which is now on track to pass the Senate and become law within days.

After the president said he wouldn't veto, shares of Fannie Mae shot up by close to 12 percent and shares of Freddie Mac rose by 11 percent, reports CBS News chief White House correspondent Jim Axelrod.

The White House swallowed its distaste for $3.9 billion in grants the bill would provide for devastated neighborhoods. The Bush administration gains the power to throw a lifeline to Fannie Mae and Freddie Mac as part of the measure that also is designed to rein in the government-sponsored mortgage firms.

Mark Zandi of Moody’s Economy.com said that the move was "absolutely necessary," Axelrod reports.

"If this hadn't been passed, I think confidence would have completely evaporated. You would have seen Fannie and Freddie on a financial precipice," Zandi said.

The administration and lawmakers in both parties teamed to negotiate the measure, which accomplishes several Democratic priorities, including federal help for homeowners, a new permanent affordable housing fund financed by Fannie and Freddie and the $3.9 billion for hard-hit neighborhoods. The grants are for buying and fixing up foreclosed properties.

"It is the product of a very significant set of compromises," said Rep. Barney Frank, D-Mass., the Financial Services Committee chairman. "We are dealing with the consequences of bad decisions and inaction and malfeasance from years before. Obviously, it requires a joint effort. "

In a statement on the bill, the White House said parts of it "are too important to the stability of our nation's housing market, financial system and the broader economy not to be enacted immediately."

Mr. Bush had objected to the neighborhood grants, saying they would help bankers and lenders, not homeowners who are in trouble. Still, Dana Perino, the White House press secretary, said a showdown with Congress over the funds would be ill-timed.

It was a striking split for Mr. Bush and many congressional Republicans. GOP leaders denounced the housing legislation as a bailout for irresponsible homeowners and unscrupulous lenders, even as they acknowledged it was probably necessary.

"It's a bill that I wish I could support. It's a bill that the market clearly needs ... but this is not a bill that I can support," said Rep. John A. Boehner, R-Ohio, the minority leader.

Still, 45 Republicans - most from districts ravaged by the housing crisis - voted "yes," reflecting the political potency of the package at a time when economic concerns are foremost in voters' minds.

The measure hands the Treasury Department the power to extend the government-sponsored mortgage companies an unlimited line of credit and to buy an unspecified amount of their stock, if necessary, to prop up Fannie Mae and Freddie Mac, two companies chartered by Congress. The firms back or own $5 trillion in U.S. mortgages - nearly half the nation's total.

Sen. Richard C. Shelby of Alabama, the senior Banking Committee Republican who was his party's lead negotiator on the measure, said Bush's turnabout reflected political reality.

"They looked at the Hill, they counted some votes and they see there's pretty broad support for this," Shelby said.

He and Sen. Christopher J. Dodd, D-Conn., the committee chairman, said they would push for swift approval of the measure without any changes.

"We'll be anxious to move this product along," Dodd said .

But conservative GOP senators led by Sen. Jim DeMint, R-S.C., were threatening to slow the measure unless Democrats allowed a vote on barring Fannie Mae and Freddie Mac - whose political operations are legendary - from lobbying and making campaign contributions. Senators' objections could delay enactment of the measure until next week.

Before Wednesday's vote, Treasury Secretary Henry Paulson told reporters that completing the measure was "a strong message that we are sending to investors" that would play a key role in "helping us turn the corner" on the housing crisis.

Congressional analysts estimate that a government rescue of the mortgage giants could cost $25 billion, but they predict there's a better than even chance it won't be needed.

The bill would let hundreds of thousands of homeowners trapped in mortgages they can't afford on homes that have plummeted in value try to escape foreclosure by refinancing into more affordable, fixed-rate loans backed by the Federal Housing Administration. Lenders would have to agree to take a substantial loss on the existing loans, and in return, they would walk away with at least some payoff and avoid the often-costly foreclosure process.

The plan also creates a new regulator with tighter controls for Fannie Mae and Freddie Mac and modernizes the FHA.

It includes about $15 billion in housing tax breaks, including a credit of up to $7,500 for first-time buyers who purchase homes between April 9, 2008, and July 1, 2009. It also allows people who don't itemize their taxes to claim a $500-$1,000 deduction on their 2008 property taxes. That chiefly benefits homeowners who have paid off their loans and can't claim a federal tax deduction for mortgage interest.

And it increases the statutory limit on the national debt by $800 billion, to $10.6 trillion.

The White House, which initially denounced portions of the bill as too burdensome on the government and risky for taxpayers, dropped most of its objections in recent weeks in search of a swift deal. An urgent request by Paulson to throw Fannie Mae and Freddie Mac a federal lifeline acted as a powerful locomotive for a deal.

The bill sets a cap of $625,000 on the loans that Fannie Mae and Freddie Mac may buy and the FHA may insure. It lets them buy and back mortgages up to 15 percent above the median home price in certain areas.

Lawmakers abandoned efforts to place conditions on any Fannie and Freddie rescue, but the bill hands the new regulator approval power over the pay packages of executives at the companies.

It also counts any federal infusion for the mortgage giants under the debt limit, essentially capping how much the government could spend to stabilize the companies without further approval from Congress. As of Tuesday, the national debt that counts toward the limit stood at just under $9.5 trillion, roughly $350 billion below the statutory ceiling.

[excoachken]

Once again, the Cowardly Cowboy relies upon his only "problem solving" skill: take out a loan on a credit card, but this credit card belongs to our children and grandchildren. Where is the fiscally responsible CONSERVATIVE????

[xmanborg]

Posted by excoachken at 09:22 AM : Jul 23, 2008

I agree with what you say.


ALSO: I think this is the FIRST TIME that Bushie has done something for the Middle Class. George W Bushie LOVES TO SPEND MONEY ON CREDIT THIS COUNTRY DOES NOT HAVE AND DRIVE DOWN THE VALUE OF THE AMERICAN DOLLAR.

Your SECOND LAME DUCK TERM is almost over Bushie.

GOOD RIDANCE.

[lochlan-2009]

"President Drops Opposition To Law Granting Government Aid To Homeowners And Lenders"

A day late for the old woman in Mass. who killed herself yesterday because they were putting her house up for auction today. Don''t worry Bush, we know you could care less about your sheeple, except around the elections.

[slim1h2o]

Let Fannie and Freddy fail. They are not helping out the middle class, they are helping rich executives save their jobs. Middle class people will still have to pay their mortgages, and pay the big tax bill as well, when it comes.

[terrapin78]

I think he was told by Repugs in Congress that they would vote to over-ride his lame azz veto.

They have to worry about re-election and he doesn''t.

[sistatee-2009]

"Cash infusion" means the government gives the top executives of Fannie and Freddie, millions of dollars in bonuses, for doing such a good job of accepting the "cash infusion". Then the execs contribute millions of dollars to Republican AND Democratic congressmen who authorized the "cash infusion", and siphon off the rest for themselves. After that, both companies claim they need another "cash infusion" in order to stay in business.

[missingamerica]

From a physics perspective, I guess you could use a black hole as an analogy for the wealthy and the corporations in the Republican universe.

Like light under the influence of a black hole, lots of money - to include tax dollars - is expected to pour into Bush''s constituency, but the rules of their universe demand that very little should be allowed to escape.

[bobbyduck1]

Bush cares about the little guy unlike liberals who only wish to push them out on the street!

Posted by GOP_forever at 09:49 AM : Jul 23, 2008

And what universe are you from? Certainly none anywhere near planet Earth! What a laughable post! Get real!

[bikerb54]

Hey GOP forever, do you enjoy the high gas prices, food prices, taxes, foreclosures, and loss of the American way of life? Oh yeah, you must be one of those "rich by Rupblicans" azzholes who supports the moron in the white house. No as long as bush is prez, there are no capitals in any of these words.
I am totally against helping these companies out. They made the mess, let them go under like so many of middle class and poor Americans have done. No one helps us out when we can''t pay our mortgage, utilities, medical expenses (insurance, prescriptions, hospital bills) and lose all we have. Who has helped the elderly get their prescriptions and food at the same time? Have you had to choose between food and medication, or food and utilities, GOP-Forever? Doubt it. Pull your head out, smell the reality of American life and think before you say anything-Does it sound stupid? If the answer is yes, then shut the H311 up!!!

[fstop100]

Hey georgie did you dirty your hands signing that?

[vnveteran72]

Exposing Bush''s Historic Abuse of Power:

New evidence uncovered of post-9/11 spying on Americans.
Obtained documents point to a potential investigation of the White House that could rival Watergate.


July 23, 2008 | WASHINGTON -- The last several years have brought a parade of dark revelations about the George W. Bush administration, from the manipulation of intelligence to torture to extrajudicial spying inside the United States. But there are growing indications that these known abuses of power may only be the tip of the iceberg. Now, in the twilight of the Bush presidency, a movement is stirring in Washington for a sweeping new inquiry into White House malfeasance that would be modeled after the famous Church Committee congressional investigation of the 1970s.

While reporting on domestic surveillance under Bush, Salon obtained a detailed memo proposing such an inquiry, and spoke with several sources involved in recent discussions around it on Capitol Hill. The memo was written by a former senior member of the original Church Committee.

AH-OH......LMMFAO

[bikerb54]

GOP_forever. Where the heck have you been in the last 5-6 years? I''ll admit, Bush stepped up after 9/11 pretty well. That was alot to handle if you have no experience with something like that. But then the stupidity surfaced and smart hasn''t been seen since. He''s only gotten us farther away from what America should be. We have real estate being sold to countries over seas that haven''t exactly been supportive of us, we pay money and send weapons to countries that harbor terrorists, then wage war on those governments, and then send more money to rebuild what the terrorists have destroyed, pay money to countries for their oil (when we have plenty of our own to drill for) and those countries are becoming obscenely rich from us while we have elderly, poor and homeless that our "wonderful" president forgets about. Hey, those people have the right to vote and they know who helps and who doesn''t. Republicans had better remember where the majority of voters are. Middle class, and poorer people. The rich are very outnumbered and money doesn''t buy happiness but just makes it easier to tune out the needs of those less fortunate.

[vnveteran72]

"If we know this much about torture, rendition, secret prisons and warrantless wiretapping despite the administration''s attempts to stonewall, then imagine what we don''t know," says a senior Democratic congressional aide who is familiar with the proposal and has been involved in several high-profile congressional investigations.

"You have to go back to the McCarthy era to find this level of abuse," says Barry Steinhardt, the director of the Program on Technology and Liberty for the American Civil Liberties Union. "Because the Bush administration has been so opaque, we don''t know [the extent of] what laws have been violated."

The parameters for an investigation were outlined in a seven-page memo, written after the former member of the Church Committee met for discussions with the ACLU, the Center for Democracy and Technology, Common Cause and other watchdog groups. Key issues to investigate, those involved say, would include the National Security Agency''s domestic surveillance activities; the Central Intelligence Agency''s use of extraordinary rendition and torture against terrorist suspects; and the U.S. government''s extensive use of military assets -- including satellites, Pentagon intelligence agencies and U2 surveillance planes -- for a vast spying apparatus that could be used against the American people.

AH-OH,......LMMFAO again.....

[coco0331]

The republicons love it when a plan comes together. What about the deeds? Who gets the money? and what is covered? Was their no collateral? This was nothing but a cheap con. Do they get the money and the property? The Bush mafia at work. The savings and Loan, World com, Enron, Bear stern, and now this 25 billion dollar pilfer. Where''s Neil Bush at? Is he involved? The problem with the world is the greed of the U.S. government and their special interest, and their .0001% private mafia.

[micma-2009]

getoffmine


The people who are primarily responsible for this are the legislators who deregulated the banks and the banks who engaged in predatory lending and reckless speculative investments. For the most part, the consumer was duped here.

[drinuk]

Banks off the Hook yet again, the corporate crooks escape from yet another scam. Any odds that they gambled on this when granting irresponsible loans ?

[shippg-2009]

I do not want to bail out Freddy and Fanny either, but the alternative is the greatest Depression we have ever seen. It would be far worse than the 1930s because of the widespread bank failures. We would not be able to get any cash anywhere. When the gov bails out one of these "guys," they are just preventing a huge bank failure.

And then we continue living with the illusion that everything is okay.

[antoniof123]

So this mess that the GOP caused with deregulation is now being fixed by we the people. First of all we should remove the CEO''s and other exectives then force them to pay back what they made in bonuses then if they still owe take it away from them. Hey there were hailed as such great managers remember Countrywide and Bear Sterns.

God neo cons you take classes in stupidity or were born that way.

[jtdev1]

"It hands the Treasury Department power to extend the government-sponsored mortgage companies an unlimited line of credit and buy an unspecified amount of their stock, if necessary, to prop up Fannie Mae and Freddie Mac, two companies "


This says it all... It''s a way to bail out the investor so they don''t lose anything. Buying the unlimited stock, and giving unlimited loans put the US Government at risk.

Here''s whats going to happen. First this bill passes, then they buy up the stock from the investor, then they announce a collapse of Fannie and Freddie. They supply loans and the US Government (us taxpayers) take the hit for the collapse...

Thats why the rush on this...

[lovegetpeace]

Americans love the Greed of Capitalism!

[thisandthat1]

CBS News? Where''s the JOHN EDWARDS story?

[forthepeopl1]

this say''''''''s it all. it''''''''s all about the wall street investors and mainly china,japan investor. the one''''''''s mr potatohead paulson sold them in his many years.

his head is on the chopping block and he is useing the americans tax payers to bail him out.
July 22 (Bloomberg) -- Treasury Secretary Henry Paulson, trying to persuade Congress to approve his rescue plan for Fannie Mae and Freddie Mac, said U.S. financial market stability is at stake and international investors are awaiting the outcome.

``This is about not only our housing markets, but it''''''''s about our capital markets more broadly,'''''''''''''''' Paulson said in an interview with Bloomberg Television today. ``This goes well beyond the two institutions -- Fannie and Freddie -- it has to do with investors in the United States and investors all over the world.''''''''''''''''

yep, we the people get f by whitehouse and congress again..thanks to americans not telling congress to get f on this idear. everyone should hold town by town rally,city by city rally,state by state rallys or completely stop working stop buying,stop them in their tracks.

come on america what will it take for you to stand up for your kids and grandkids futures..

[e-mail]



americans need to tell congress that the same investors that are putting americans on the streets, need to be told that it goes both ways, and americans are not going to bailout the same investors that started this whole thing in the first place

[forthepeopl1]

why is bush for it?? it clear that china is calling in the cards. they own 800 billion worth of worthless securitys from fannie and freddie.

this is the only reason bush is signing this bill. again us average tax payer takes it on the chin, oh by the way our kids and grand kids are the ones hurt the most.

great job america

[forthepeopl1]

this say''''''''s it all. it''''''''s all about the wall street investors and mainly china,japan investor. the one''''''''s mr potatohead paulson sold them in his many years.

his head is on the chopping block and he is useing the americans tax payers to bail him out.
July 22 (Bloomberg) -- Treasury Secretary Henry Paulson, trying to persuade Congress to approve his rescue plan for Fannie Mae and Freddie Mac, said U.S. financial market stability is at stake and international investors are awaiting the outcome.

``This is about not only our housing markets, but it''''''''s about our capital markets more broadly,'''''''''''''''' Paulson said in an interview with Bloomberg Television today. ``This goes well beyond the two institutions -- Fannie and Freddie -- it has to do with investors in the United States and investors all over the world.''''''''''''''''

yep, we the people get f by whitehouse and congress again..thanks to americans not telling congress to get f on this idear. everyone should hold town by town rally,city by city rally,state by state rallys or completely stop working stop buying,stop them in their tracks.

come on america what will it take for you to stand up for your kids and grandkids futures..

[e-mail]



americans need to tell congress that the same investors that are putting americans on the streets, need to be told that it goes both ways, and americans are not going to bailout the same investors that started this whole thing in the first place

[startide-2009]

Wow. I''m so glad that my wife and I worked so hard, saved our money, bought a first home, renovated it, saved more, made sure our credit scores stayed excellent, and built our second home. It is all worthwhile, when you see stupid people with no common sense getting bailed out of sub-prime mortgages by the Federal government because the interest rates climbed. These people KNEW they were just rolling the dice... they ROLLED the dice... they put their money on the table... AND THEY SHOULD LOSE IT!!!!! Punish the mortgage brokers who pushed these loans through, knowing the risk as well, but more interested in a fast buck, and who played the house odds against these foolish buyers. Tighten up the laws governing mortgages and sub-prime mortgages. But don''t bail out the dumb people who thought the dice were going to come up their way.

[dinkydog1]

I know Bush is about to die having to do something for the middle class and repubs will be quick to label it a handout. But I wonder, why arent all the wingnut repubs upset about the $25 billion tax payers are giving to Freddie Mae and Freddie Mac? Isn''t this socialism, welfare, income redistrubution or even fascism, or do these repub scare words only apply when money is given to ordinary citizens?

[ddaryl1]

looks liek Congress has finally beaten the decider...

this guy is a ******, and he is gettin gbeat like th edog that he is.

I also agree with the statement that all of these handouts to the corporations are a form of socialism. Why is it ok to bail out those who caused the mess, but not those who were effected by the mess ?

the fact is money needs to be invested that really creates infrastrucutre and jobs for Americans. Bush gave tax breaks to corporations and the welathy and they didn''t do squat with that cahs but pad their own bottom lines.

You can not trust the welathy, they would sell there children down a river to make a profit.

The people in this ocuntry need to elect politicians that will stand up to these greedy SOB''s, Wallstreet, and the corproations and return the power to the people like the constitiution declares.

The wealthy deserve to be punished, and they shoul dbe forced to rebuild social security because its these wealthy pigs that have taken away most of our pension plans, and have stolen from social security not caring at all what the effect on us workers was or is.

[deacon20081]

His friends on wall street got Drunk. Just like He got drunk with power. Now he is enabling them to Drink Some More.
Typical Dry Drunk

[brianp55]

Very nice. And while Congress and Mr. Bush are at it, perhaps they can intervene and get my mortgage interest rate lowered, as well.

[shanev137]

Rep. John Boehner, the Republican minority leader, told colleagues that he would "vote against this bailout bill, and that taxpayers deserve a lot better than this," according to a senior party aide.


======================



Right....taxpayers deserve better bailouts like Bear Stearns, IndyMac, Freddy Mac.....etc...etc.

[yongamerica]

This Bill is a wolf in sheeps clothing. This Bill is a bail out for the greedy loan companies that devised and offered these failed loans. This Bill is a bailout for the large corporations that buy long term loans for retirement and health insurance conglomerate corporations. Business should not be profiting from retirement funds nor health insurance. These industries should be strictly non profit with tight controls on staff salaries including the upper management. No one should be making million dollar salaries in these industries like the upper management of the Red Cross Organization.

[xmanborg]

Wow the first thing that Bushie has done for the Middle Class. Isn''t that NICE of him.

[forthepeopl1]

this say''''''''s it all. it''''''''s all about the wall street investors and mainly china,japan investor. the one''''''''s mr potatohead paulson sold them in his many years.

his head is on the chopping block and he is useing the americans tax payers to bail him out.
July 22 (Bloomberg) -- Treasury Secretary Henry Paulson, trying to persuade Congress to approve his rescue plan for Fannie Mae and Freddie Mac, said U.S. financial market stability is at stake and international investors are awaiting the outcome.

``This is about not only our housing markets, but it''''''''s about our capital markets more broadly,'''''''''''''''' Paulson said in an interview with Bloomberg Television today. ``This goes well beyond the two institutions -- Fannie and Freddie -- it has to do with investors in the United States and investors all over the world.''''''''''''''''

yep, we the people get f by whitehouse and congress again..thanks to americans not telling congress to get f on this idear. everyone should hold town by town rally,city by city rally,state by state rallys or completely stop working stop buying,stop them in their tracks.

come on america what will it take for you to stand up for your kids and grandkids futures..

[e-mail]



americans need to tell congress that the same investors that are putting americans on the streets, need to be told that it goes both ways, and americans are not going to bailout the same investors that started this whole thing in the first place

[libh8er]

Bush is such a disappointment. Just waste more tax dollars, George. Why don''t you just change parties and become a democrat? You spend tax money like one.

[skyk-2009]

Bush is such a disappointment. Just waste more tax dollars, George. Why don''''t you just change parties and become a democrat? You spend tax money like one.

Posted by LibH8er at 02:46 PM : Jul 23, 2008

LOL The Rattle Snakes are starting to eat each other!!

[brianp55]

I hope everyone realizes that this bailout is simply going to be added to the National Debt. That means that ALL of us...and our children will be assisting in paying off someone else''s mortgage and the burden assumed by these lenders for making loans they failed to scrutinize properly.

[randynason]

The ******-In-Chief is still trying to guarantee some sort of a legacy, even as a "liberal." What a too-little, too-late putz.

[loncheneyjr]

This bill is meant to save the Trillion Dollar Hedge Funds that are dependent on this idea that Freddie and Fannie are government guaranteed!!! This is the Biggest crime ever committed on the American people!!! This action today will result in the ultimate bankruptcy of this nation!!!! That CBS is reporting this as a bailout of the homeowner shows me who owns and operates CBS. TODAY THE CONGRESS IS COMMITING A CRIME AGAINST THE AMERICAN PUBLIC. ESPECIALLY AGAINST THE MIDDLE CLASS!!!

[shippg-2009]

LonCheneyJr, I agree with you. We do not feel the effects (yet), but we will down the road.

[leftyintexas]

No matter how hard he tries, bush will never have a legacy...at least not one to be proud of. Has anyone heard anything about impeachment proceedings against him before he leaves office? I heard the Democrats were considering it last week but I haven''t heard anything since. That''s one event I''d buy tickets for! Only 181 days left! YES!!!!

[dashortround]

It really doesn''t matter what Bush supports, or does not support, any longer.

He''s a TOTALLY lame duck - without the full support of even his own party. He can either go along with the majority, or get run over. He doesn''t even have enough political capital left to sustain his vetoes.

[leftyintexas]

Yeah, its being spearheaded by Congressman Dennis Kucinich. Ohh my, President Bush is in trouble now! You dont want to tangle with the likes of Dennis Kucinich, boy genius...

Posted by DaVicar2 at 04:54 PM : Jul 23, 2008

That''s old news. I''m talking about something Pelosi said. It''s the first time she even approached the subject. I wonder what ''hold'' the Republicons have over her.

[dashortround]

"Show a little respect, dipwad."

Posted by DaVicar2

- - - - - - - - - -

Respect for what???

Respect is something that you EARN, and that you have to re-earn every single day of your life. It isn''t something that people simply "owe you" automatically, you know.

Bush has done absolutely nothing to earn our respect, and that''s entirely his own fault - he''ll just have to live with that fact.

We owe him nothing whatsoever - most especially not our "respect".

[timdgrim]

The ******-In-Chief is still trying to guarantee some sort of a legacy
Posted by RandyNason


His name is George,
George Walker Bush,
President George Bush,
or just Mister President!

Show a little respect, dipwad.




Posted by DaVicar2
**************************
****** in Chief really isn''t right Randy....He never made an A in his entire silver spooned life that somebody didn''t give him...More like F-Hole in Chief.....

[ontheleft]

''And it increases the statutory limit on the national debt by $800 billion, to $10.6 trillion''

I like how they slipped that in.

Once again, the taxpayers are getting screwed.

[tonic1661]

That is so rich, the Republicans are against baling out freddie and fannie as well as anyone losing their home.

Freddie and fannie are a financial bedrock of this country.

Failure to bale them out is like torching the whole house of cards.

The homeowners are in comparison a drop in the bucket.

We need another Republican who is tied to the sway of his party like we need another George W. Bush.

[canyoutellme-2009]

thank you congress! Thank you so much! I''m a homeowner who bought a house this year in Feb. Not only do i NOT get that $7500 FREE TAX CREDIT (that is cash-money right there.. ) for supporting the economy, but i also pay my mortgage on-time, every month... and what will i get for my trouble? ZILCH.

Yay me!

I also made over 100K last year... so i got ZIPPITY DO DAH for the "stimulus package"... basically, i''m paying for OTHERS to get cold, hard cash even though i paid a BOATLOAD in taxes.

[libsluv2spit]

same set of liberals STILL BITC*HING AND MOANING..no matter what is done..regardless by whom..SAME BIT*CHING AND MOANIN..

dont save these ''poor'' people...bush is a facist
do save these ''poor'' people..bush is a facist

YOU KNOW WHY??

thier main agenda is all about whinning..

[whitemale08]

This vote will trigger the super hyper-inflation that will cause all of the countries around the world to de-cupple the so called "dollar".

This of course will cut us off from our 70% dependecy on imports.

It''s over folks, Hank the Snake Paulson knows this.

So say your goodbyes to friends and family because we are at the doorstep of a new Dark Age where we will dine on cats and dogs, use the restroom outside and not have potable drinking water.

Mark my Words.

[vancouverboo]

The Chinese are so nice to loan us the money to pay for all of this. Thank Goodness, it will never have to be repaid.