Hot News!
• Freestore Foodbank Battle of the Blogs!
• Cincinnati NAACP President shares update on Cincinnati Retirement Plan
Contact Us
v mail, fax: (214) 481-6464
e mail: click here
On today's date in The Beacon archives, we published:
•Fans find reality not reported by Enquirer (2007)•Open Letter to John Pepper about Disney Characters (2006)
•More Lack of Coverage from The Cincinnati Enquirer (2006)
Events
 |
|
|
Friday, September 26, 2008
No, no, no and HELL NO to Bush billionaire bailout plan
Posted by Media Release
COAST calls on members urgently to contact their members of Congress to oppose “worst idea of our lifetime”
COAST calls on its members to contact their Congressmen and Senators immediately to oppose the latest $700 Billion bailout for America’s richest citizens proposed by President Bush. The vote in Congress presently is anticipated Thursday or Friday. To date, the actual language of the largest bailout bill in American history, which Brit Hume of Fox News says will be voted by the most unpopular Congress in American history at “historic speed,” has not even been presented.
Phone numbers for your Senators and Congressmen follow:
U.S. Senators
James Bunning (R-KY)
Washington office: 202.224.4343
Ft. Wright office: 859-341-2602
Mitch McConnell (R-KY)
Washington office: (202) 224-2541
Ft. Wright office: (859) 578-0188
George Voinovich (R-OH)
Washington office: (202) 224-3353
Cincinnati office: (513) 684-3265
Sherrod Brown (D-OH)
Washington office: (202) 224-2315
Cincinnati office: (513) 684-1021
U.S. Congressmen
Steve Chabot (R-OH)
Washington office: (202) 225-2216
Cincinnati Office: (513) 684-2723
Jean Schmidt (R-OH)
Washington office: (202) 225-3164
Cincinnati office: (513) 791-0381
John Boehner (R-OH)
Washington office: (202) 225-6205
Butler County office: (513) 779-5400
Jason Gloyd, COAST Chairman, called the plan “socialism for billionaires and the worst idea of our lifetimes,” and said “it is the start of our fastest descent into a government-controlled economy in American history. Washington’s interference in financial markets has created this crisis, and Washington’s welfare for billionaires will just exacerbate the pain for middle class taxpayers and prolong the downward descent.”
Read the full COAST blog entry here.
• Share This Article!
Listen to this article
|  |
Register
Anonymous comments are allowed, but you can create an account above to stamp your name and to avoid typing the anti-spam code.
If you are not familiar with our rules for leaving comments, click here! The Cincinnati Beacon is not responsible for the contents of any comments. Comments do not represent the views of the moderators of The Cincinnati Beacon.
26 Sep 2008 at 08:06 am | #
I for one will call Jean Schmidt!
26 Sep 2008 at 08:10 am | #
I’m on the phone with Jean Schmidt’s office now. They stated she hasn’t taken a position. They will contact me (with a letter) once she makes a decision.
Hell-to-the-no for Corporate Welfare!
27 Sep 2008 at 09:37 pm | #
COAST and all their followers just proved how absolutely ignorant and short-sighted they are—without this bailout; any deposits over 100K will be lost; private and public pensions will collapse; banks will be able to “call” loans on anyone’s house (or other line of credit) regardless of them being behind in payments or not; investments from the stock market will plummet; etc....
Nobody likes this, nobody. But we are all going to pitch in and pay for the greed and unethical behavior of those like COAST who have used fiscal conservation as a means of lining their own pockets at everyone else’s expense --- and now we all must pay for our failure to exercise moral and ethical behavior in our business practices and in the voting booth.
Do people REALLY think this is some joke?
Thank God the Dems refused to pass the Bush/Paulson plan that would have been corporate welfare benefiting only the rich and the purveyors of such atrocities on our free market economy. They insisted on the necessary regulation (rules) to assure us fairness and equity interest in this extreme bailout marking the failure of Pure Capitalism and the unencumbered free market that COAST and the other greedy far right wing “conservatives” have been forcing down the throats of an unsuspecting and trusting society too busy, preoccupied or ignorant to understand either the immediate or long term effects of one-party rule.
A Democratic Capitalism - where all segments of society are represented and all have an interest and stake in the productivity and profit of each business and the efficient operation of gov’t; where a people can pursue life’s opportunities based upon their efforts and talents, not on who they know, who their parents are, the successes of others’ work efforts, inheritance, cronyism, favoritism, promoted racism, or the ill-fortune of others. Where a person who works 40 hours a week is able to achieve the American dream at a reasonable, fair, and proportionate obligation to his means (Is there something wrong with everyone who works a job for a few years, works reliably and hard, pays their bills (not paying for credit cards - but pays bills on time [why must people incur debt to earn credit?] being able to own, at least, a modest home?); where wages are consistent with the cost of living so noone has to receive food stamps unless infirmed; where noone needs subsidized housing costs, daycare, or medicaid that works 40 hours a week; where healthcare, car insurance, life insurance and disaster mitigation is a built in cost of living and doing business (where struggling businesses have an opportunity to eliminate tax liabilities until they are able to meet these threshold wage standards and everyone has the opportunity to start a business)
Wake up people - pure capitalism is dead and the greed of COAST & company killed it because they did in gov’t what they did in private business - acted on their base wants of greed and greed.
28 Sep 2008 at 09:19 am | #
Just remove the $100K FDIC limit and call it a day.
28 Sep 2008 at 09:57 am | #
anon #3:
Let me hear your rant against Cincinnati Progressive Action—since your COAST rhetoric cannot apply to them.
28 Sep 2008 at 01:54 pm | #
Dean - bite me, go have another drink with Finney the Fink - you’re a cheap whore.
29 Sep 2008 at 09:58 am | #
Wow # 3 I got a headache reading your post, but your “Democratic Capitalism “ sure sounds like socialism.
“A Democratic Capitalism - where all segments of society are represented and all have an interest and stake in the productivity and profit of each business “ Could go a 1,000 ways with this but to make it simple , anyone can do this. Buy a share of stock. They can be reprsented by voting. Whoever gets the most votes wins.
By Democratic Capitalism, do you mean that the Government should take money from people who start a business and give an interest and stake from the productivity and profit of the person who starts the business and give it to all segments of society? That’s called socialism.
“where a people can pursue life’s opportunities based upon their efforts and talents. “ They can, it’s called capitalism. What makes you think that people cannot take their ingenuity ,efforts and talents and reward themselves? Government should do it for them?
“inheritance” Someone builds a company or wealth and they should not be able to pass it down to their family? The Government should pass it out, or spend it?
“Where a person who works 40 hours a week is able to achieve the American dream at a reasonable, fair, and proportionate obligation to his means (Is there something wrong with everyone who works a job for a few years, works reliably and hard, pays their bills (not paying for credit cards - but pays bills on time [why must people incur debt to earn credit?] being able to own, at least, a modest home?)”
Why can they not do this? the Government owes them a home? Plus , All through history, there has been credit. Right? “ Incur Debt to earn credit"… HUH ?
Your job has to absorb your car insurance, flood insurance etc etc should be built into wages and business has to absorb the cost? You want to pay 395.00 for a Big Mac?
“(where struggling businesses have an opportunity to eliminate tax liabilities until they are able to meet these threshold wage standards and everyone has the opportunity to start a business) “ HUH again… Anyone can start a business. Many people who have gone on to bigger things started as kids mowing lawns, or a paper route, washing cars. I know a guy who has the largest cab company in the US who started with 1 car. Plus, if you have a sound business plan, and take a few courses, the SBA can be very helpful. Mayor Mallory has a program to help people start small business’s. Don’t know how well it works, but it exists.
banks will be able to “call” loans on anyone’s house (or other line of credit) regardless of them being behind in payments or not; Trust me, if you are making payments on your home or car, they are not going to call your loan and take you car or house. That’s a big part of the problem. They want the payments not the house. If you are behind, say on your car, talk to them, and although they may talk “rough” they do not want you car or house.
100 K insured accounts. If you have a million or 2 lying around, spread it into different accounts. They don’t like to advertise it, but you can have 30 accounts with a 100 K in them and each is insured for 100 K in most instances.
Nothing in your post is pure capitalism. It is socialism, and income redistribution. Never worked anytime in history, and it won’t work now. Even China has somewhat come to that conclusion, as they use for lack of a better term, a mixture .
I dont want to bring politics into this, but if you think the Messiah and his group is going to be any different, it isn’t going to happen. Even he says alot of things he wanted to do, probably can’t be done “right now”. Is your “tax cut” of a one time 500 dollars going to change yours, or anybodies situation? Probably not.
The Democrats have had control of congress for a couple of years. Congress is in charge of the money. In a recently released “aduit”, it was determined that they knew all about the Bear Stearns situation for a while, and yet, did not exercise the existing regulatory control that is already on the books. John McCain got one thing right, being that the Chairman of the SEC should be at the very least, fired. That one hits close to home for me, as I gave that company 14 years of my life, and all the stock I recieved was instantly worthless.Rubbing salt into the wound, the CEO, who KNEW about the bailout deal, was given the opportunity to sell his 30 million woth of stock, and the rest of us were hung out to dry. He is a big Demcratic fundraiser. Wonder if that’s why he wasn’t or isn’t going to be indicted ?
Still, I am totally against this deal for the most part. Let the chips fall where they may, and there are ways for them to create the liquidity that must happen or there will be a bigger mess. Insurance would be one way, or changing the “mark to market” rule. Putting “mainstreet on the hook for 700 billion, plus the 600 billion bill that passed thursday, and the others that are sure to follow is wrong. GE today did what should be the model for these companies that have financial companies, and they did it internally.
Other than that, cut the capital gains tax to nothing, save some money, and put it in the market. You say you want to participate, well, buy low and sell high is the rule. In a down market, there is opportunity. You can get a pretty good deal on a house now, but, even with someone else in charge, you still might have to take a loan.... if anyone is still giving them.
Getting mad at the Dean because the Goverment wont pay your car insurance isn’t going to help. Average Joe was a big part of this problem by leveraging the farm to speculate. Plenty of blame to go around, but this “bailout” as it stands, is not a good deal for the people. I wonder if this congress ignored alot of things, using us as the lamb, to win an election…
30 Sep 2008 at 12:43 pm | #
No matter how you look at it, the defeat of the bill is a victory for freedom. The defeat of the power elite is essential for liberty to thrive. For the free market to function, we need the government/corporate cabal to lose its capacity to get its way in every area of life. They need to feel fear. They need to lose security. They need to have a sense of uncertainty as to whether their every wish is our command. The House defeat of the bailout is a magnificent rebuke in that sense
But does it mean that the economy is going to tank and we will all suffer? On the contrary, it could mean that we can begin an economic recovery from the Fed-generated bubble that should have and would have burst years ago but for artificial props by the Fed. If the stock prices of these troubled institutions can fall to where they need to be, they can be taken over, and their assets used productively and traded by the market. Once this deleveraging takes place, we will be ready for a new round of economic growth.
More great things happened after the bailout failed. Commodity prices including oil fell dramatically. This is a magnificent thing. Right now, consumers are not threatened by the possible failure of another paper-addicted investment-banking house. Consumers are threatened by ever-higher prices for all goods. If we are in a recession, especially if it lasts and lasts, low prices are precisely what we need to start economic recovery again.
The failure of the bailout bill was the precondition for economic recovery. It should make believers in liberty realize that we can change history, that tyranny is not our fate, that the leviathan state can be beaten back.
Yesterday was one of the worst days in decades for the power elite. It was one of the best for liberty.
30 Sep 2008 at 11:29 pm | #
Dear Friends - haven’t you gotten the news? Pure Capitalism failed because the greedy only get greedier, the dishonest only lie more, the phonies only manipulate everything - and the free market is just another name for an aristocracy where the rich get richer and the rest of us sacrifice disproportionately.
Just as pure socialist nations crashed and burned, so has pure capitalistic nations (the US). Just as we must have criminal laws to protect our safety and property from social deviants, we must have economic laws to protect our assets and earning power from amoral glutons. Neither capitalism nor socialism is the answer. The “free market” only works when constrained by rules of law that are fair and value the worker as much as the boss. We must inspire ingenuity and intellectual prowess willing supporting the workers who transform those ideas and vision into a reality. No one is an island unto themselves and the sooner we apply that to our economic principles the sooner we will all prosper together - lifting everyone up not just those floating on top.
These concepts aren’t socialism - they’re basic fairness, they’re basic ethics, they’re basic judeo-christian values ------ too bad the GOP “free market” economists don’t share these moral beliefs
01 Oct 2008 at 10:58 am | #
Great posts 8 and 9!
Let’s hope Monday repeats it’s self tonight though.
01 Oct 2008 at 05:30 pm | #
Hey CitizenAgainstJoeDeters - While you’ve got your pal Schmidt on the phone, can you ask her to explain why she (and also Chabot) voted 5 times (2007/2008) AGAINST the State Children’s Health Insurance Program Reauthorization Act (SCHIP)?
03 Oct 2008 at 05:01 pm | #
Today I understand how liberals must have felt when congressional Democrats caved in to Bush on the war authorization. It starts in the back, it’s kind of a sharp, stabbing pain, right where your heart used to be…