After walkout, black caucus gets what it wanted

[MrJim]

http://www.google.com/hostednews/ap/article/ALeqM5i47tkLU-HE-S2lB6d4-dbO3y8OFAD9CGLA4O0

WASHINGTON — Call it the $6 billion boycott.

By boycotting a key House committee vote last week and threatening to abandon support for banking regulations, members of the Congressional Black Caucus got $4 billion added to a Wall Street regulation bill and $2 billion to a proposed House jobs bill in spending they sought for African American communities.

House Financial Services Committee Chairman Barney Frank, D-Mass., this week inserted $3 billion to the legislation to provide low-interest loans to unemployed homeowners in danger of foreclosure. He added $1 billion for neighborhood revitalization programs.

The money would come out of the $700 billion financial rescue fund.

 

[preachinjesus]

The TARP plan was developed by President George HW Bush in order to avoid the contagion and financial collapse that nearly took our nation down these past 18 months. It was a quietly held program that existed to keep us out of the next Great Depression.

Seems to have worked...though I will still argue the applicaton to banks and the large bailouts were not necessary.

Now lawmakers on Capital Hill are like the kids who discovered the cookies inside the mysterious jar. They can't get enough. Hopefully we won't have another crisis anytime soon, because they've destroyed the program.

 

[JohnDeereFan]

The TARP plan was developed by President George HW Bush in order to avoid the contagion and financial collapse that nearly took our nation down these past 18 months. It was a quietly held program that existed to keep us out of the next Great Depression.

Ironic, huh?

 

[billwald]

Well, if one can bribe 12% of the population with less than 5% of the bill of which they will probably pocket less than half, sounds like good deal.

 

[matt wade]

On a side note...would it be ok if someone started up the "Congressional White Caucus"?

 

[Salty]

On a side note...would it be ok if someone started up the "Congressional White Caucus"?

Of course not, that would be racist.

 

[MrJim]

Of course not, that would be racist.

:smilewinkgrin:

 

[rbell]

Well, if one can bribe 12% of the population with less than 5% of the bill of which they will probably pocket less than half, sounds like good deal.

I'll agree, it is a bribe.

I'm not sure who it is you think will "pocket less than half."


The congress will figure out a way to buy votes with a vast majority of this money.

Places like Detroit will see buckets of money thrown their way.

 

[Aaron]

Seems to have worked...though I will still argue the applicaton to banks and the large bailouts were not necessary.

You guys don't know what's coming down the pipes. Huge inflation and an economic collapse that will rival anything you've seen or heard about, except maybe in Germany after the Treaty of Versailles.

And yes, Bush was one of the architects.

 

[Magnetic Poles]

You guys don't know what's coming down the pipes. Huge inflation and an economic collapse that will rival anything you've seen or heard about, except maybe in Germany after the Treaty of Versailles.

Ah yes, the prophet of doom and gloom speaks out. Merry Xmas to you too.