Barney Frank: Because Someone Hurt The Republicans Feelings They Decide To Punish The Country
By Jamie Sunday Sep 28, 2008 3:30pm 
During a press conference following the failure of the bailout bill, Barney Frank was asked about Republicans blaming Nancy Pelosi and a speech she gave for it failing. Barney Frank fires back with his quick wit and humor and even gets laughs out of the press pool.
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Frank: "We don't believe they had the votes and I think they are covering up the embarrassment of not having the votes. But think about this: somebody hurt my feelings so I will punish the country. I mean that's hardly plausible. And there were twelve Republicans who were ready to stand up for the economic interest of America but not if anybody insulted them. I'll make an offer: Give me those twelve people's names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are, and maybe they'll now think about the country."
Classic.
Earlier Ed Henry reported about Republicans blaming Democrats and said he couldn't find anything partisan in the speech given by Nancy Pelosi. The speech is available here and after going through it, I can't find anything that would be considered overly partisan in it.
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is this really what the Democrats are going to come with? How about trying to fix the source of the problem and not try to apply Band-aids in the rain.
To Hell with Barney Frank and the Democrats that voted yes.
That bill came from the Swindler in Chief.
There's a line about Bush's failed policies, but that's about it.
LOL. Give 'em Hell, Barney!
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I'm still undecided about the bailout but that line was a classic.
Since when has Bush done anything to the benefit of the American people? The fact that it's THIS president pushing the bill is enough for me to be against it.
Way to go Barney.
Let's see: 60 percent of Dems voted "For" Bail out and 66 percent of Republicans
voted "Against" Bail Out....and the Dems are being blamed. What a total bunch of BS
being spewed forth by the Repug Leaders.
"... Sen. Barack Obama expressed confidence Monday that lawmakers would come through with a financial rescue package, while John McCain's campaign accused Obama and Democrats of putting "politics ahead of country." "
Another exciting round of "Blame Game 2000"!
Just to point out by the way, the stock market drop does not indicate that the plan was good, and its failing to pass bad. All it indicates is that people who were hoping to get bailed out, didn't. It says nothing about the merits of the plan itself.
The bill was a ponzi scheme.
Figure out some way to address the ten thousand mortgage defaults a month that continue to happen.
That would be an accomplishment.
Bailing out the gamblers is not.
“We don’t believe they had the votes and I think they are covering up the embarrassment of not having the votes. But think about this: somebody hurt my feelings so I will punish the country. I mean that’s hardly plausible. And there were twelve Republicans who were ready to stand up for the economic interest of America but not if anybody insulted them. I’ll make an offer: Give me those twelve people’s names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are, and maybe they’ll now think about the country.”
Decoded
“We don’t believe they had the votes and I think they are covering up the embarrassment of not having the votes. But think about this: somebody hurt my feelings so I will punish the corporations. I mean that’s hardly plausible. And there were twelve Republicans who were ready to stand up for the economic interest of Corporate America but not if anybody insulted them. I’ll make an offer: Give me those twelve people’s names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are, and maybe they’ll now think about the bank accounts of the largest companies in the country.”
Both parties are just tools of the corporate oligarchy and need to be removed posthaste.
A nice, biting sound-bite! No doubt that'll get some air time. It might just have sunk the entire GOP effort to blame this on the Dems :D
Good News: Neoconservatism is dead: failed theory, wars, failed economics, failed party
Bad News: We're all going down with it
Filthy Harry @ 10:
ding ding
When the market went to 14k I bailed. I have cash and am looking for bargains. Any suggestions?
So....as C&L correctly surmised yesterday, it WAS a trap.
Look at it this way. The market tanked today. A lot of investors will be pissed because they lost money. They aren't now going to blame the Democrats for trying to get this through. They'll blame the obstructionists if it DOESN'T get through.
The bill wasn't as good as it could be, and it will improve, but if it had passed today, Pelosi and Democrats (and by extension Obama) would catch hell for "wasting taxpayer money."
When the media looks at who voted "no," it will be the Republicans they can look to. And why? Bruised egos. Turn Barney Frank loose on the morning bobblehead shows tomorrow.
What is the most encouraging thing that has happened in D.C. in the last 4 plus years?
Congresspersons "defeated" the Bail Out, that's what. Seems that FINALLY our representatives in D.C. are listening to "We the People" since majority of us are
not in favor of this bush/paulson plan...NO need for IMMEDIATE action, so as I said,
it is indeed encouraging to learn that some of our elected officals in D.C. are in fact
listening to their voting constitutents...and acting thus far accordingly.
While Pelosi's comments weren't overly partisan, she did not offer the Republicans even the slightest words of credit, other than to mention hard work with her Republican colleagues. I don't agree that her comments are a justified excuse for voting against the bill, but she certainly did her part to passive-aggressively alienate the Republicans from the solution.
It wasn't necessary, and she should have offered more conciliatory praise to those Republicans who were willing to work in the bipartisan spirit. Sometimes too much politics enters into the people's business, especially in this case. It's a shame.
mr.ed @ 16:
I'll sell you my comments on C&L. $10 a pop. This one's free.
LISTEN UP!!!
This bailout is BAD!!!! It is obscene to think that we should bail out the fatcats.
HOW MUCH IS ENOUGH???
1. Real wages flat for over 20 years
2. Health and energy cost skyrocket
3. Outsourcing
4. Downsizing
5. Productivity at an all time high
And now that the slaves are working at top speed, let's make them pay their slavemasters for the pleasure!
If you favor the bail out...FUCK YOU!!!
Now what about those Yankees....
nweppins @ 19:
Good point.
mr.ed @ 16:
I hear Alaska's for sale.
What's wrong with passive-aggressively alienating those that stood by for 8 years and let much of this happen?
princetonpdx @ 24:
Better point.
We have a choice. We can snatch the band-aid off at once, or we can slowly pull the band-aid off.
If we snatch the band-aid off, then the market will correct, a lot of Wall Street people lose their asses, and we'll have about a year of of recession. And then it'll be over.
If we slowly pull off the band-aid, where the Fed tries to maintain OVERVALUED STOCK at the present-day price levels, then the people at the lower end of the economic spectrum will have to pay for it.
What are we bitching about?
I have NO PROBLEM letting the Wall Street welfare queens get their comeuppance. How about you?
I've changed jobs about fifteen times in the past twenty years... I'm having a hard time shedding tears for these people, because they may have to find another line of work.
I'am not for this bail-out but if the reason to vote against it was Nancy Pelosi's speach then it shows just what some of these congresscritters are really made of.
the economy is fine. NASDAQ has fail safes. none of them have been triggered. What's all the hubbub about?
When nobel peace prize winning economists are telling you that bill sucks... when people like ron paul who have been telling you for years that the economy is going tank and this bill sucks. Then WHO CARES how the bill fails.. as long as it fails.
I wish I lived in MA so I could vote for him.
I always look forward to a Barney Frank Response.
Frank's hands are dirty here. Thank God this failed. This is an economic 9-11 people. You're being frightened into wrong headed action that will take down this economy for good. Look at the language they're using - sound familiar?
What a bunch of whiners.They just shot themselves in the other foot. It would be funny if it wasn't so tragic.
The gay guy has the only real onions to play this game the way it should be played.
Good for him!
Go Viral: STOP THE BAILOUT OR.... DEPRESSION?
http://www.youtube.com/watch...
Economist Michael Hudson: The bailout is
a giveaway that will cause hyperinflation and dollar collapse.
http://therealnews.com/t/index.php...
President Bush’s doom and gloom speech about the
economy last night reminded Jon Stewart of another
speech Bush gave five years ago. Same script, different crisis.
http://movies.crooksandliars.com/TDS-Bush-Red...
I believe it's our government and we have a right
to transparency.
That's why I sign the Pa Clean Sweep Promise
to Restore the Elector Right to Decide Pay Raises.
Empower yourself in November!
Write In:
Drake Minder
131 General Assembly
http://drakeminder.blogspot.com
Know snake oil when you see it!
http://www.youtube.com/watch...
Peter Schiff - Kudlow & Company 7/2/2007
Peter Schiff speaks to two children who make points that sound good to a greedy "me, me" financial neophyte.
Make no mistake this is a war upon the middle class
and poor of this country.
RobertD @ 23:
Go to Silverrockstheworld.com. I feel that going into the classic safe havens of silver and gold are good options. Silver is a real buy at the moment at about $13/oz.
RobertD @ 23:
I think you misheard. I think it was the governer of Alaska that was for sale.
I can happily say that Betty Sutton of OH-13, a Democrat, voted against the bailout. Thanks Betty!
There was no rush when people were being bodily dragged from their homes, foreclosed.
No rush when people were dying in emergency rooms.
No rush when people were drowning in New Orleans.
No rush to get out of the senseless killing zone called IRAQ.
A few Wall Street bankers stub their toes, the phones ring at 1600 Pennsylvania, and now there's a big rush.
BOTH parties could care less for us, the current maladministration especially. Only when the richest interests are threatened is emergency action taken - all with our fortunes.
I do hope the current maladministration and their enablers get the message: take your bailout and shove it. But I doubt it.
Jersey Jay @ 31:
Bush's speech on the economy? Same speech he gave for going to war in Iraq. Exactly the same. I actually heard a McCain talking head refer to this "crisis" as a "9/11-like event".
Gimme a break -
Liberal AND Proud @ 33:
The "Republicans don't care about the country" tact is a good one.
mr.ed @ 16:
booze & ammo
Don Webber @ 35:
I thought that if you bought her, you were also getting the state as part of the package.
Isn't this "pork-barrel" spending?
Troll alert! Troll Alert!
Time for TROLL BEGONE!
PSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSST
kinda scared @ 1:
Amen.
Here is what happens next.
McCain rides into town on Thursday. Saves the day. DOW goes up 900 points. Buffers Palin's debate on Thursday night.
Big set up.
Barney, I like you man, but George Bush and his cronies have already won.
Grover Norquist's wet dream has come true.
- There's NO money for the next administration to promote a better health care system.
- There's NO money to restore the regulatory programs on pharmaceuticals, food, bank funds, stock investments, pension funds.
- There's NO money to fix MediCare program.
- There's NO money to fix Social Security.
- There's NO money to fix broken public infrastructure.
- There's NO money to fix our broken educational system.
- And there's NO money to build the prisons needed to incarcerate the crooks who have perpetrated this fraud on America.
Just what part of "no" doesn't Barney Frank understand? Call his office at (202) 225-5931) and tell him NO TO THE BAILOUT!
This whole "crisis" is a stroke of genius actually. Sure, the uber-wealthy might get hurt a little but that's a small price to pay for completely wiping out the middle class.
Looks like I may have to find, rent and watch "Rollerball". Welcome to the your future people!
I just read through Pelosi's speech and I think I've pinpointed exactly what's caused the repigs panties to get all bunched up. Nowhere in the transcript can you find the words blame and Clinton. No wonder they're weeping.
Barney Frank is a joke. He is a corrupt and degenerate pol, just because he got a good zinger on the Republicans doesn't make him right. This bailout is a nightmare, I don't care if it was partisanship, fear of getting voted out, spite, or whatever. We should all be happy this thing failed.
barney needs to replace soporific harry reid as the next majority leader.
I don't want a bailout.... I want the bastards who deregulated, and stole the money to go directly to prison forfitting what ever pensions, profits, rights and multi million dollar Florida homes they have.
The DOW is still above 10,000. This is nothing but a huge heist by the Bushites.
My first reaction to Pelosi's speech - CYA: Cover Your Ass. That speech was suppose to be her excuse for voting for this bill. Yeah, there is some reaction on Wall Street, but it may very well correct itself over the next couple days. And, yeah, the Repugs are using that speech as their excuse. If they were in the majority, they would never have gotten the votes either as it stands. I heard a Democratic GA house member say today that he was willing to lose his seat over this bill. That is exactly what the Repugs want. Back to the drawing board, everybody. A Bush plan that gets 2/3 Dems and 1/3 Repugs is a rotten plan. Where are the creative minds???
mr.ed @ 16:
Wait till the market go to 8000 then starts buying up.
Republicans went from 'rubber stamp' to 'rubber strait-jackets in a rubber room' in the space of a few months.
How does devalued assets or bad debt become good when borrowed money pays for it?
Our federal reserve is made up of debt. Not gold backed legal notes, debt backed mortgages and loans. The system will eventually fail because people and businesses have to keep borrowing to keep the system moving (paying the interest on the loans). Throwing money (even if it were real money) at it might not work.
What these assholes are really scared of, is the fact that if they're worth $100 million US dollars and the US dollar is worthless, all their money is worthless. They're not worried about you or me, they're worried about themselves.
Years of importing more than exporting, privatizing pensions in the way of wall street backed retirement investment accounts, record coroporate greed, and a government driven by lobbyists have come to roost. Maybe we will all need to know how to kill and gut a moose to eat.
Did you see Rahm Emmanuel in the background just behind Frank trying desperately not to break out laughing? He has to hold his fingers to his mouth to cover up his smile.
WR @ 56:
you have about an hour to skin and gut it. Don't let flies land on it or it's worthless.
WR @ 56:
I plan on eating yellow elephants. I hear they're nice and tender.
Surging Blue Lensman @ 40:
pharmaceuticals.
they're easy to store, and keep.
birth-control pills, blood-pressure meds, cholesterol controllers, SSRI-inhibitors, that kind of stuff...
the problem isn't entirely the bailout. it's moreso the financial structure of this country where financial and lending institutions control EVERYTHING! They determine whether 95% of us can own a home, buy a car, start/expand a business, and go to college. And now, they are essentially threatening to crash the market if we don't pony up a trillion dollars to save their sorrry asses from losing money on shady practices that they KNEW AHEAD OF TIME they would probably lose money on. People, THIS WAS ALL PLANNED YEARS AGO! why else do you think all of this "crisis" is happening right at the end of the Bush years and "has" to get done immediately (i.e. before the election)? when it's all said and done, Bush will have given around two trillion dollars of our money and our children's money to his friends in energy, defense, and the financial industry. this is exactly what they did after 9/11 when we "had" to pass the patriot act and fisa and authorize war with iraq "or else" we'd be attacked again, next time with nukes! give me an effing break...
I'm sorry Rethuglicans, Dame Pelosi doesn't have that kind of mojo. Please try to spin better next time, thank you very much.
So, President Bush expected his minions to blindly follow. After all ,he sent Darth Chaney to do his bidding, and Repugs practically threw him out. What now? Really?
mr.ed @ 16:
all the freshwater springs you can get your hands on.
Yellow Elephant Safari @ 59:
Too much fat and cholesterol and it will lower your IQ by fifty points...
This bill will be back for a vote. You can count on that!
Guess who will get all the praise for getting republicans to come around...
YEP...John McCain!
You'll hear many republicans saying John McCain came in to help turn NAY votes into YEA votes in the near future when the bill is brought back to life.
With that said though, I'm glad to bill failed and I hope it fails the next time. It doesn't help. The leading economists have said it won't help. They have already handed out more than close to a $trillion that hasn't helped.
Hilarious! What a bunch of schmucks the Repubs are for this nonsense.
If, I think I understood Barney correctly, he and others in Congress will now go
into "recess" for a few day(due to Rosh Hashanah), then to me that proves that
acting on this Bail Out has no urgency and consequenlty proves that "immediate
action" was not needed....in fact, proving that the Bail Out is not even needed
at all.
Seriously: in lieu of this bill, what should be done to attack this crisis?
If people hate this bill so much, what should be put in its place?
I ask this because I believe that there should be concrete solutions to this crisis.
princetonpdx @ 64:
Buy Euros!
If i play money on WS. And i lose it. No body gives me my money back.
However, Give big bussiness Tax Cuts $$$$$ subsidies $$$$$$ other Tax loopholes$$$$$
they take money lose it and now i have to give them more so they don't have to lose their Fking parachutes. This is because George never got his Social security plan to give to WS so they are just gonna scare it out of you.
On Sept 19th we were litteraly days away from a complete colapse?!?!?! Ten days agao?!?!?!
The Republicans are being idiots and the Democrats are *acting* like grown-ups. Great, I got it. That doesn't change the fact that many Republicans, however accidentally, are on the right side of this issue and Barney Frank, however much I love him otherwise, is on the wrong side.
I'm willing to entertain the notion that some form of government intervention may be necessary, but this plan was garbage. Maybe now Congress can invite some actual economists to help work out an intelligent proposal instead of tinkering around the edges of a plan designed by (and for) Wall St. CEOs.
Oh boy, I wonder what Bin Laden thinks? Is he going to give us some words of wisdom?
OT .. but !!
GREAT NEWS !!!
State, federal courts uphold early voting in Ohio
Mother Of All Frauds
http://market-ticker.denninger.net/archives/2008/09/20.html
Lewis Teague @ 73:
On Sept 17th rate of return on money market funds went negative.
If that was allowed to continue there would have been a run on money markets.
Can you say "NoseDive" ?
Surging Blue Lensman @ 41:
You forgot porn
McOld is here to save the day. lol.
Most major economists think this bill will make everything worse. STOP defending Frank, Pelosi and others who have done nothing but pass Bush's crap for the last 2 years. NO to ANY BAILOUT
Oooooohhhhhh, I can't wait for the heads to start rolling after January 20th.
eyerah @ 61:
I think this is a real crisis. All of our money (except coins) is now created as loans advanced by private banking institutions -- including the private Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices -- and robbing you of the value of your money. We cant have record forclosures on mortgages and not expect it to affect banks.
I don't think it's as bad as they are making it out though. The non paid mortgages still have worth and can be sold for less. How many "consultants" are chomping at the bit for this money?
Please, the Repubs were looking for *any* reason to vote against it...it it hadn't been Pelosi's speech, it would have been the color of her blouse...
Regardless I'm glad it failed, just annoyed at the typical whining Bonerites...
The Very Bitter Ceci Hussein @ 70:
There are plenty of good solutions. here's just one
http://www.zmag.org/znet/viewArticle/18927
The last thing you want to do is give these Bush, Bernanke, Paulson crooks any money.
"We've got to put partisanship aside." Yet they voted to kill the bill anyway. Yaaah!
This bill should have been DoA. To bad it took Republicans to kill it. Congress should put this off until Obama takes office. The shakeout that happens between now and then will be a good thing.
Dems should stand their ground on helping people with bad mortgages by demanding legislation that will help them instead of the people who ripped them off. But they won't.
I, for one, am thrilled that it did not pass. We are on the verge of being robbed blind. Let the banks figure their way out of this mess. Hell, if it is mortgages as they claim, help out MAIN STREET with mortgage payments and/or refinancing to get the ball rolling again. We can't afford to insure our children to make sure they have medical care, we can't afford a policy that provides insurance for each citizen, we can't afford to fund our schools so we have top notch schools to educate our children yet we can afford to bail out the very same banks with their lending practices based on greed that has been legally screwing Main street all along?
Bush has wiped his ass with our flag, he has Shred the Constitution and Bill of Rights and now he wants to relieve us of what is left of our national treasure and we are supposed to just say sure and hand it over? I think not. Those who are thinking about the situation are voting against it. Bush is using fear to get this thing passed and it is time we tell him we are not afraid of his bullshit anymore. We should all take a pledge to vote against each and every member of congress that votes to hand over this money. Starting with Pelozi, everyone send Sheehan a donation!
We all must call our congressmen/women and DEMAND no bailout of Wall Street. This situation can be fixed at a much lesser amount of money if we bail out Main Street and pass laws that will make predatory lending practices illegal. We also must make these obscene sums of payments to CEO's and everyone else involved illegal. THAT is a huge part of the problem, we will be paying for that if we pass the bailout wall street bill.
I am so damned angry I could spit bullets!
Progressive Libertarian @ 74:
I agree 100%.
The "Shock Doctrine" was effectively applied to Congress, huddled in a room, terrified into "you must pass this NOW!"
But every commentary I've read (lots of them) says there does have to be action, but unless the fundamentals (unregulated "credit-default-swaps") are changed any action is futile.
The best example of "what to do" is to follow Sweden's solution to their 1992 financial crisis - extract pounds of flesh from bank shareholders and neg