Although 133 Republicans and 95 Democrats listened to us ---We The People--- and voted "NO" on the socialist-monarchical Frankenstein of a $700 billion bailout, 65 spineless Republicans joined 140 Democrats in voting "YES”.
Some of the Republicans who voted “YES” are notorious RINOs, however there were also some good ones who, unfortunately, cowered, and rolled over on the dictatorial beck and call from Nancy Pelosi. The majority of those Pelosi's Republican lapdogs are not running for reelection, finding it, thus, easy to betray their constituents and their, ostensibly, dear pro-free enterprise principles.
As for Blaming Pelosi for the “NO”, it's just a politicking skit by some humorous Republicans to put some icing on the cake and pull the broom from between the legs of the Witch of the House.
The very truth of the matter is that We The People spoke and our voice prevailed. And finally, seen through the lens of partisan politics, the very truth of the matter is that Republicans who voted “NO”, some actually did it out or principle; others, out of listening to the people; and even others, out of sheer fear of being sacked by their constituents next November.
In the absolute end, it was a sound victory for the people and free-entrepreneurialism, and a sound defeat for authoritarianism and socialism.
However, some conservative denizens of punditland have come out with long faces, airing in public their great disappointment in the victory of democracy, disheartened at the power of the people.
They don’t stop bemoaning what they call “lack of leadership” by prominent Republicans that voted “NO”, when the latter practiced the best of all leadership: heed the will of the people, the actual leaders in an effective-democracy republic system as ours.
“Effective democracy = the seamless fusion of Thomas-Jeffersonian democracy (mainly: individual, secret, private, free vote in transparent elections) and Andrew-Jacksonian democracy (mainly: participatory democracy form of governance).”
To some conservative pundits, We The People should be considered cattle to be pulled around from nose rings by “our leaders” and forced to take whatever they order us to do. Haven’t they read the Constitution’s solemn, majestic introductory phrase that ---once for all and before anything--- clearly determines who the absolute sovereign in this blessed land is?
“We The People of the United States . . .” it says.
It doesn’t say “we the ‘leaders’,” or “we the bureaucrats,” or “we the Senators,” or “we the House Representatives”, or “we, any other usurpers or the people’s sovereignty.”
We The People are the absolute sovereign in this United States of America! Every single public functionary and worker is our employee, We The People are their bosses.
What happened was that We The People spoke, and our employees, in this case good House Representatives, listened. They listened to our firm opposition to that gargantuan $700 billion bailout that would have made Henry Paulson a Vladimir Putin or a Hugo Chávez, or like any other autocrat around on the surface of the planet. And worse, it would have pushed America closer to sheer socialism and autocratism.
The Associated Press reports that “Republican leader John Boehner, R-Ohio, said he and other Republicans were pained to vote for such measure, but he agreed that in light of the potential consequences for the economy and all Americans, ‘I think that we need to renew our efforts to find a solution that Congress can support.’"
That type of bailout is not a solution, let alone the only solution, for it would cripple structurally our free-enterprise system.
And it isn’t that the “NOs” were cast against a solution to the crisis; they were cast against a lousy bill that is no solution at all, and which would include Democrat pork for shady entities such as the notorious ACORN.
And it isn’t a matter of finding “a solution that Congress can support"; it is about finding THE PROPER solution; that is, the solution that We The People can accept, for it is us, taxpayers, who most likely will end up saddled with paying the piper.
That’s why we, the vast majority of the people, are against the $700 BILLION bailout or any measure that is not based on workout by the failing financial institutions.
We taxpayers, We The People, cannot be forced to buy worthless paper.
We The People demand a good solution, not anything like the monstrosity that Paulson wanted to shaft us with, no matter the “improvements” the Democrats have garnished it with.
We The People reject ANY type of bailout; we support the proper type of workout.
A good workout solution could be ---for instance--- assistance to those troubled banks in the form of loans, as in the case, for example, of Chrysler in the 1980s.
In return, We The People should get immediate tax relief to help us replenish the money that we would lend to the “ninja” lenders, who by the way could end up not paying it back.
Yes, Chrysler paid the loan back, and with profits for the taxpayers, but Chrysler produces goods, while the banks, in this case, are just joggling all that bad paper behind which lay hyper-inflated homes that no one wants to, or can, buy for several reasons: debt fatigue, dilapidated and vandalized homes, homes surrounded by foreclosured homes, etc.
Therefore we demand AT LEAST ---i.e., not limited to--- the following measures as companions to any measure to assist the failing financing institutions:
1. That the Bush tax cuts be made permanent.
2. That business taxes be lowered considerably, say, to no more than 10%.
3. That the death tax be abolished.
4. That no federal or state tax hikes be made for at least 10 years.
5. That earmarks be prohibited for at least 10 years.
6. That the president be given line-item veto powers.
7. That government spending be cut drastically.
8. That the size of government be reduced drastically.
9. That a special prosecutor be named to investigate any wrongdoing by officials of the failing financial institutions.
10. That a Subprime Meltdown Commission ---not a sham like the 9/11 one--- be created and installed to investigate the whole affair, from its origin to the meltdown itself.
11. That Fanny Mae and Freddy Mac be privatized.
12. That the creation of Government Sponsored Enterprises be banned and that any existing GSE be weaned off the government altogether.
14. That Christopher Dodd and Barnett Frank be removed from their positions as heads of, respectively, the Senate Banking Commission, and the House Financial Services Commission for their grossly complicit dereliction in the matter.
Tough pre-requisites? Not at all. On the contrary; mere commonsensical, legitimate demands from the injured-to-be, We The People.
Finding the solution to this artificially, maliciously created Democrat mess needs due diligence, which for sure means time. Meanwhile, the economy will (borrowing from Hillary-ese) catharsize itself, and as a consequence, it may even repair itself, partially at least, so that no drastic medicine may be required.
By the way, the stock market closed today about 500 points up, a 63% regain of yesterday’s loss, reflecting thus the confidence of stockholders on the great American people for having categorically rejected Paulson-Democrats’ monstrosity yesterday ---September 29, 2008--- a day that will be live engraved in the honor annals of American history: the day when the U.S. House of Representatives listened to the voice of the people.
We The People must stand firm and demand from the President (comments@WhiteHouse.gov), our two Senators (www.Senate.gov), and our respective House Representative (www.House.gov) to repel any bill that includes ANY type of bailout. We should tell them, however, that we would probably support THE PROPER WORKOUT-BASED assistance measure.
Ultimately there is the mother of all relief measures, for those failing finances institutions, the one you and I would be forced to bite if having made lethal business decisions: B-A-N-K-R-U-P-T-C-Y.
