Democrats Playing with America's Financial Future
Written byon 2008-09-30T21:01:32+00:00
Elected Democrat officials in Congress are playing with America's future due to politics and wanting to win an election. They put their party ahead of the average taxpayer. They created the rules and policies of Freddie and Fannie and have allowed the market to use "no money down, no pay check, and no common sense" to ruin the financial system. They created a system where their friends made millions of dollars at taxpayer expense. Please read the below article.
Democrat Leaders Played to Lose
By The Prowler
Published 9/30/2008 12:50:21 AM
House Speaker Nancy Pelosi ordered her Majority Whip, Jim Clyburn, to essentially not do his job in the runup to the vote on Monday for the negotiated Wall Street bailout plan, according to House Democrat leadership aides.
"Clyburn was not whipping the votes you would have expected him to, in part because he was uncomfortable doing it, in part because we didn't want the push for votes to be successful," says one leadership aide. "All we needed was enough to potentially get us over the finish line, but we wanted the Republicans to be the ones to do it. This was not going to be a Democrat-passed bill if the Speaker had anything to say about it."
During the floor vote, House Majority Leader Steny Hoyer and House Democrat Conference chair Rahm Emanuel could be seen monitoring the vote on the floor, and gauging whether or not more Democrat votes were needed. Clyburn had expressed concerns, says the leadership aide, of being asked to press members of the Black and Hispanic caucuses on a bill he was certain those constituencies would not want passed.
"It worked out, because we didn't have a dog in this fight. We negotiated. We gave the White House a bill. It was up to the Republicans to get the 100 plus votes they needed and they couldn't do it," said another Democrat leadership aide.
Emanuel, who served as a board member for Freddie Mac, one of the agencies that precipitated the economic crisis the nation now finds itself in, had no misgivings about taking a leadership role in tanking the bill. "He was cheerleading us along, mothering the votes," says the aide. "We wanted enough to put the pressure on the Republicans and Congressman Emanuel was charged with making it close enough. He did a great job."
Pelosi and her aides have made it clear they were not going to "whip" or twist the arms of members who did not want to vote, but they also made no effort to rally any support for a bill they attempted to hijack over the weekend.
Further, according to House Oversight Committee staff, Emanuel has received assurances from Pelosi that she will not allow what he termed a "witch hunt" to take place during the next Congressional session over the role Fannie Mae and Freddie Mac played in the economic crisis.
Emanuel apparently is concerned the roles former Clinton Administration members may have played in the mortgage industry collapse could be politically -- or worse, if the Department of Justice had its way, legally -- treacherous for many.
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