Democrat has Detailed Economic Crisis Proposal...

Discussion in 'Politics' started by Trinity, Sep 21, 2008.

  1. Trinity

    Trinity New Member

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    OOPS IT AIN'T OBAMA!
    Pay Attention Boys...this is how it's done.

    Sen. Hillary Clinton’s floor speech Thursday directly addressed our nation’s (and the world’s) financial crisis


    Senator Hillary Rodham Clinton released the following statement from her office in Washington, DC. As usual Senator Clinton understands the dangers of this “once in a century” crisis. She calls it “the greatest market upheaval since the Great Depression”. She did the following:
    …called for swift and strong action to stem the growing credit crisis on Wall Street. Assailing the Bush Administration for ignoring repeated warnings of the growing crisis and failing to provide adequate oversight of an increasingly complicated market, Senator Clinton offered a series of bold, specific proposals, including creating a new version of the Home Owners’ Loan Corporation (HOLC) to restore confidence in the market, curbing the most damaging and manipulative trading practices, providing relief to homeowners facing foreclosure, and reasserting competent federal oversight.

    Watch Obama Cheat and Come Up with the Same Plan. But Hillary is already on Record while Obama is voting "Present" :rolleyes:

    She outlined several proposals. Here is a list of her proposals:
    * Create a new entity to buy up and quarantine toxic mortgage securities that are dragging down the markets which would allow the markets to stabilize. Last spring Senator Clinton was among the first to call for a new entity modeled after the successful Depression-era Home Owners’ Loan Corporation (HOLC) or the Resolution Trust Corporation (RTC) created after the Savings and Loan crisis.
    In response, Senator Clinton outlined a series of proposals to address the crisis, a crisis she warned about during the primary:
    * Place a temporary moratorium on the most abusive stock transactions, many of which involve the “short-selling” of stocks. Yesterday, Senator Clinton wrote to the Securities and Exchange Commission urging such a moratorium, saying it would provide breathing room for the markets to recover, for investors to make accurate assessments of companies and for regulators to assess what trading practices should be permanently banned.
    * Convene an emergency economic summit to show the American people their government is working together. Bringing together leaders in the administration and Congress with lenders, consumer advocates, non profits, financial institutions, and all stakeholders will allow a coordinated response to the crisis.
    * Aggressively pursue and encourage mortgage modifications. Senator Clinton has introduced legislation to remove barriers to mortgage modification and to encourage lenders to voluntarily work with borrowers to keep them current on payments and in their homes.
    * Restore competent federal oversight of the increasingly complicated financial markets. The rapid evolution of the securities and banking industry overwhelmed the current regulatory framework, resulting in a “shadow banking system” that operates outside of oversight and without accountability.
    * Require transparency and accountability on executive pay. Senator Clinton has proposed the Corporate Executive Compensation Accountability and Transparency Act to impose new transparency rules on executive pay, end the accounting techniques that hide compensation, and provide shareholders a say in executive compensation packages.
    * Ensure the accountability of financial institutions borrowing money from the Federal Reserve’s new lending facilities. Taxpayers deserve to know that the companies they are bailing out are on the road to recovery and aren’t throwing more good money after bad.
    Here is video of her remarks to the Senate yesterday:
    YouTube - Clinton Calls for Immediate Action to Halt Market Crisis

    The Democratic Party has only itself to blame.
     
  2. unabear09

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    seriously.....do you have nothing better to do that to post stupid shit like this. And I notice that you never show that you are online. I guess you lack the proverbial balls to stand up to other posters and argue your point instead of throwing some obsolete load of crap on the site, and then cower away and let others try to justify and back up what you have posted
     
  3. mattbuddy

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    I do notice you are the one who mostly starts anti-Obama posts like this Trinity...it's getting old. We get it already that you don't like Obama!
     
  4. b.c.

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    In so far as Clinton has reaffirmed time and time again that she is in Obama's camp, and in so far as she is certain to be highly involved in that administration, this, I would think, would be another positive on behalf of the Democratic ticket.

    That someone would try to use it as a negative or something other shows (imo) a rather picayunish pettiness that borders on the pathetic.

    (Say that three times real fast and you get swiss cheese.) :rolleyes:
     
  5. Notaguru2

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    Any details?

    Ummm.. its not cheating when you're on the same team. There's nothing ground breaking here sweetpants.



    Great! A new ARM of the government. How much will this cost? And what country is going to loan us the money?

    Too late. This was already done. Hillary needs to catch up some news. The fed froze short sells on Friday.

    Is this the same 9/11 Commission that McCain called for? Or a separate commission? Are we going to have 2 commissions? I'm confused.

    Short of a mandate to do this, banks won't fall in line. Thats why we're in this shape. They've already tried to go down this path; it failed.

    Is this another agency? So, she is proposing 2 agencies now? I see government expanding under this plan.

    This is a good thing. Not ground-breaking mind you, but certainly common sense.

    Which of the two agencies are responsible for the accountability? Or this a third agency?

    ... only has itself to blame, for? Bush has been running this country for the last 8 years and congress has been run by an overwhelming GOP majority for 10 of the last 12 years. There's plenty of blame to go around on this one.​
     
    #5 Notaguru2, Sep 21, 2008
    Last edited: Sep 21, 2008
  6. B_New End

    B_New End New Member

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    LoL!!
     
  7. Trinity

    Trinity New Member

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    Details have been provided for you. Read...click a link...watch the video. Absorb the information. If you still don't understand. Repeat.

    What do we need with Obama if Hillary is the brains behind the operation...like in all the debates. I believe Sen. Clinton is correct, I agree with Sen. Clinton's assessment...:rolleyes:


    Use the links...and actually read an article. She called for this before it was done. The SEC Chairman listened to her. :rolleyes: Hillary Clinton is ready on Day One. Obama is still voting present. Obama is not ready to lead.
     
  8. B_New End

    B_New End New Member

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    We need Obama to win. Hillary couldn't even beat a freshman senator from Illinois in the primaries. Obviously not a very strong candidate. She also could not raise nearly as much money as Obama.
     
  9. Notaguru2

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    Hillary won't be president on day one. Obama is voting present because he's campaigning for president. Billary has plenty of time on her hands. Whether or not you believe Obama is ready to lead is not your call; it was the democratic voters and they have spoken.

    Let me state this once more for you; Y O U L O S T. :rolleyes:

    I love sore losers... you're so fascinating to watch unravel.
     
  10. Qua

    Qua
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    Hillary's time in the political limelight is over for the time being. Please just get over yourself and realize this.
     
  11. Trinity

    Trinity New Member

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    Hillary Clinton was the better candidate for President. It is proven everyday. And no, I don't support Obama...so whenever it is blantantly reiterated how woefully unqualified and unprepared to lead this nation Obama is, it is relevant. No matter how much Obama fans drinking the kool-aid want to overlook it.

    This is the reason why the Democrats may not have a Democrat in the White House. And they have only themselves to blame.
     
  12. Industrialsize

    Staff Member Moderator Gold Member

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    Youre repeating yourself AD NAUSEUM........for the record:Hillary LOST the fucking primary to Obama. Obama was ELECTED(not selected) as the democratic nominee to President.
     
  13. mindseye

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    Trinity, you continue to post articles verbatim from copyrighted websites. In some cases, you give credit to your source -- often the right-wing Chicago Tribune -- but in this case, you gave no source at all.

    This article is an exact verbatim copy from the hate site noquarterusa.net (and certainly not a reputable news source). Your failure to cite it suggests an attempt to conceal the origins of the article.
     
  14. Industrialsize

    Staff Member Moderator Gold Member

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    woops! Trinity, do you have the original poster's permission to cut and paste her work without attribution????......Come on, NO QUARTER a reliable NEWS source??? Good grief
    To say Obama has been "voting present" is simply a LIE
    We are facing one of the most serious financial crises in this nation’s history. The events of the last week – from the failure of Lehman to the bailout of AIG to the continued volatility of the market – have not just threatened the trading floors and high-rises of Wall Street, but the stability and security of our entire global economy. Across this country, Americans are worried about whether they can make their mortgage payments, or keep their jobs, or ensure that their retirement is secure. Truly, we are all in this together.
    Our government and the Federal Reserve have already taken unprecedented action to prevent a deepening of this crisis that could jeopardize the life savings and well-being of millions of Americans. But it is now clear that even bolder and more decisive action is necessary.
    In recent years, I have outlined plans that would have helped prevent the problems we now face, and yesterday I proposed the outlines of a plan that would establish a more stable and permanent solution to strengthen our financial system. Today, I fully support the effort of Secretary Paulson and Federal Reserve Chairman Bernanke to work in a bipartisan spirit with Congress to find this kind of solution.
    What we’re looking at right now is to provide the Treasury and the Federal Reserve with as broad authority as necessary to stabilize markets and maintain credit. We need a more institutional response to create a system that can manage some of the underlying problems with bad mortgages, help homeowners stay in their homes, protect the retirement and savings of working Americans.
    In the coming days, I will more closely examine the details of the Treasury and Fed proposal, and as I do, I’ll work to ensure that it provides an effective emergency response by including four basic principles that my economic advisors and I just discussed this morning.
    First, we cannot only have a plan for Wall Street. We must also help Main Street as well. I’m glad that our government is moving so quickly in addressing the crisis that threatens some of our biggest banks and corporations. But a similar crisis has threatened families, workers and homeowners for months and months and Washington has done far too little to help.
    For too long, this Administration has been willing to hit the fast-forward button in helping distressed Wall Street firms while pressing pause when it comes to saving jobs or keeping people in their homes. We already know that the credit crisis that has emerged from our largest financial institutions is becoming a credit crunch for small business owners, homeowners, and students seeking loans in big cities and small towns. Now that American taxpayers are being called on to share in this new burden, we must take equally swift and serious action to help lift the burdens they face every day.
    In the same bipartisan spirit that is being shown with regard to the crisis on Wall Street, I ask Senator McCain, President Bush, Republicans and Democrats to join me in supporting an emergency economic plan for working families – a plan that would help folks cope with rising gas and food prices, spark job creation through repair of our schools and roads, help states and cities avoid painful budget cuts and tax increases, help homeowners stay in their homes, and provide retooling assistance for America’s auto industry. John McCain and I can continue to argue about our different economic agendas for next year, but we should come together now to work on what this country urgently needs this year.
    The second principle I would like to see in the emerging plan from the Treasury and the Fed is that our approach should be one of mutual responsibility and reciprocity. It must not be designed to reward particular companies or the irresponsible decisions of borrowers or lenders. It must not be designed to enhance the personal gain of CEOs and management. The recklessness of some of these executives has helped cause this mess, even as they walk away with multimillion dollar golden parachutes while taxpayers are left holding the bag. As taxpayers are asked to take extraordinary steps to protect our financial system, it is only appropriate that those who benefit be expected to contribute to the protection of American homeowners and the American economy. Just as support is not designed to payoff egregious executive compensation, it should not reward those who are ruthlessly foreclosing on American families.
    Third, this plan must be temporary and coupled with tough new oversight and regulations of our financial institutions, and there must be a clear process to wind down this plan and restore private sector assets into private sector hands after restoring stability to the system. Taxpayers must share in any upside benefit that such stability brings.
    Fourth, this plan should be part of a globally coordinated effort with our partners in the G-20. This is a worldwide issue, and while the United States can and will lead in stabilizing the credit markets, we should ask other nations, who share in this crisis, to be part of the solution as well.
    One last point. We did not arrive at this crisis by some accident of history. What led us to this point was years and years of a philosophy in Washington and on Wall Street that viewed even common-sense regulation and oversight as unwise and unnecessary; that shredded consumer protections and loosened the rules of the road. CEOs and executives got reckless. Lobbyists got what they wanted. Politicians in both parties looked the other way until it was too late. And it is the American people who have paid the price. The events of this week have rendered a final verdict on that failed philosophy, and it will end if I am President of the United States. We must build upon the ideas I have laid out over the last several years about how to modernize our financial regulation in this country, and establish commonsense rules of the road for our financial system to help restore confidence in our financial system.
    Finally, given the gravity of this situation, and based on conversations I have had with both Secretary Paulson and Chairman Bernanke, I will refrain from presenting a more detailed blue-print of how an immediate plan might be structured until I can fully review the details of the plan proposed by the Treasury and the Federal Reserve. It is critical at this point that the markets and the public have confidence that their work will be unimpeded by partisan wrangling, and that leaders in both parties work in concert to solve the problem at hand.
    I know these are difficult days. And I know there are a lot of families out there right now who are feeling anxiety – about their jobs, about their homes, about their retirement savings. But here’s what I also know. This isn’t a time for fear or panic. This is a time for resolve and for leadership. I know we can steer ourselves out of this crisis. That’s who we are. That’s what we’ve always done as Americans. Our nation has faced difficult times before. And at each of those moments, we’ve risen to meet the challenges as one people, and one nation. That is the America we need to be and can be today.
     
    #14 Industrialsize, Sep 22, 2008
    Last edited: Sep 22, 2008
  15. Industrialsize

    Staff Member Moderator Gold Member

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    Obama's speech included seven specific stipulations for any bailout that happens.
    1.) No blank check: Americans are going to be on the hook for almost $1,000,000,000,000. It's taxation without representation to just write blank checks without being accountable to taxpayers.
    2.) Taxpayer money should not be paid to reward CEOs. Period.
    3.) Taxpayers are incurring a great amount of cost and risk. The investments should be protected, and they should be able to eventually recoup the losses.
    4.) THERE MUST BE A PLAN TO HELP HOMEOWNERS STAY IN THEIR HOME.
    5.) Obama pointed out that this is a global crisis, and that other nations need to step in to help secure the financial market.
    6.) REGULATE. REGULATE. REGULATE.
    7.) This plan must work for Main Street, not just Wall Street.
     
  16. Trinity

    Trinity New Member

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    This is not a verbatim copy it is an excerpt the complete article which was much longer and included the complete speech delivered by Sen. Clinton.

    Noquarterusa.net is not a hate site. That is your opinion and the opinion of other Obama fans. With the Surrogate for Obama Media running rampant, NoQuarter has accurate and valid information currently being ignored by the Main Stream Surrogate for Obama Media.

    And as far as attempting to conceal the origins of the article. Not a chance. If this was something highly inflammable in regards to Obama then perhaps you would have reason to suggest that, the fact is...there is a video link of Clinton's remarks and links provided of Sen. Clinton's letters and proof of her actions. This is just valid information.

    Thanks for citing this. The article was posted on Noquarter and written by NancyA. :wink:
     
  17. Trinity

    Trinity New Member

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    Did he write that in crayon? I'm sorry it just pales in comparison to Sen. Hillary Clinton writing to the SEC Chairman and setting things in motion. She is always apart of the solution rather than looking around and voting present.
     
  18. Industrialsize

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    I had to pick myself up off the floor because i was laughing so hard! Noquarter is not a ate site??? It is one Obama SMEAR after another......It was the site that reported that there existed a tape of Michelle Obama using the word "whitey" at church!..That tape NEVER EXISTEDand LARRY Jonson knew it...Accurate information? Valid information???......I think not.........Noquarter is OBAMA HATE CENTRAL!
     
  19. Industrialsize

    Staff Member Moderator Gold Member

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    I guess you didn't read the speech.........of course you didn't because it contradicts your firmly held beliefs. Seeing you've seemed to lose your ability to read, maybe you prefer to watch:
    http://www.youtube.com/watch?v=dZH_19Oa5gg&eurl
     
    #19 Industrialsize, Sep 22, 2008
    Last edited: Sep 22, 2008
  20. mindseye

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    And that is your opinion.

    I'll cite this source and invite others to decide whether the content of noquarterusa is "intended to degrade ... or incite prejudicial action against a person ... based on [his] gender...".

    If Barack Obama hadn't been male, that article would never have been written.
     
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