Eshoo explains vote for bailout bill Elections, posted by Editor, Mountain View Voice Online, on Sep 30, 2008 at 7:31 pm
Calling it "as tough a vote I have ever taken in Congress," Rep. Anna Eshoo, D-Palo Alto, said she voted for the financial recovery bill Monday in Washington "because of the many critical issues plaguing the U.S. financial system."
Read the full story here Web Link posted Tuesday, September 30, 2008, 7:15 PM
Posted by B, a resident of the Whisman Station neighborhood, on Oct 2, 2008 at 12:49 am
This is the letter I wrote to her, which she ignored.
I am writing to urge you to vote No on any legislation to bailout Wall Street.
There is no WMD in Iraq, and the sky is not going to fall if we don't bail out Wall Street in the next couple of months.
Let the new administration tackle this issue. I do not want the current administration any where near the tax payer's money. They have done enough damage to our country, please vote no to any Wall Street bailout.
Posted by AJ, a resident of the Waverly Park neighborhood, on Oct 3, 2008 at 11:12 am
I think Rep. Eshoo made the correct choice even though it was unpopular. This bailout was more than about helping Wall Street. It will ultimately affect our ability to get a loan, and to protect our retirement assets. Obviously the system needs more oversight, but we need to recover from our current situation first.
Refusing the bailout is like not letting the patient in the ER because you are not sure whether he was responsible in belting his seat belt properly.
Posted by Erik, a resident of another community, on Oct 3, 2008 at 7:02 pm
I dont have any retirement assets, do you know why? I am too young, and am still in school to get a proper job. Now when I get out, that job will either pay less, or the value of the US dollar will have declined so as to devalue my salary.
I would have voted NO on this bill twice, especially the second time with the added spending.
Posted by B, a resident of the Whisman Station neighborhood, on Oct 4, 2008 at 6:18 am
I am sorry to inform you. You will find that the bailout will not protect your retirement assets. The stock market and the US dollar will continue to fall. Credit will remain tight for the foreseeable future.
Posted by Jim, a resident of the Old Mountain View neighborhood, on Oct 9, 2008 at 11:25 am
Hank Paulson's re-interpretation of the bailout bill seems to now favor directly injecting capital instead of buying their bad debt. While this is a slight improvement, we all still need to vote her out.
My argument is simply that Congresspeople and Senators don't THINK or WRITE legislation anymore. They are WHIPPED by their leadership to support dumb groupthink laws written by the special interest groups who support them. They spend all their time FUNDRAISING as opposed to THINKING. They pass bad bills because they don't even read the bills they vote on. Democratic Rep. Brad Sherman from down in the San Fernando Valley actually read this bill, and he voted against it. He did his job, unlike most of the clowns on Capitol Hill.
Whether you hate Republicans and Bush or not, when your representative ignores the strong convictions of 99.9% of her constituency to support her leadership, she no longer represents you. In the workplace, this is call insubordination and it always leads to termination. I don't see why or how Eshoo or the other Congressmen think they are above us. This is unacceptable. She needs to go. As a country, we need to sweep out the entire leadership and start anew since both Democrats and Republicans led us into this ditch.
The following snippet is from a well-known economist who predicted this crisis was coming two years ago. Please note where I capitalized his snippet for full attention.
So, all is well that ends well. A totally flawed and ineffective legislation that did not explicitly allow to do the right thing – recapitalize banks with public capital injections – and was rather aimed to do the wrong thing (wasting $700 bn of taxpayers’ money to buy only toxic assets at an inflated price) was rescued at the last moment right before the House vote via an interpretation of the wording of the legislation in the record of the House that allowed such recapitalization. IT IS A SORRY REFLECTION OF THE STATE OF THE US DEMOCRACY THAT HUNDREDS OF SENATORS AND CONGRESSFOLKS DID VOTE FOR THE BIGGEST BAILOUT EVER IN US HISTORY ($700 BN) WITHOUT EVEN KNOWING EXACTLY WHAT THEY ARE VOTING FOR.
Posted by b, a resident of the Whisman Station neighborhood, on Mar 20, 2009 at 6:35 pm
Ever since you voted for the first bailout bill. I am convince that you no longer serve the tax payer or the American people.
So congress may pretend to be angered about AIG bonuses, but I no longer trust congress to do the right thing.
Shouldn't we be outraged at Congress since they knew that the bonuses would be payed, removed the clause that would have prevented them from being payed and now are pretending to be shocked that they were payed, and who are now basking in the admiration of the idiotic populous who somehow think that they are heroes for addressing a situation that they helped to create?
You can dope some of the people most of time. But you don't fool me.