Miscellaneous

First starting off about the “bailout” in Washington this week.
Biden referring to when McCain made comment about how the economy is fundamentally strong. – Palin explains that the people make the economy strong.

Sub-Prime meltdown: who is at fault?
Palin says lenders at fault for telling people they can afford a house they really can’t. Says that the people should not be taken advantage of. – Biden attacks McCain about how he “tried to deregulate.” – Palin says the people need a tax relief, but says Obama and Biden voted FOR the largest tax increase ever. – Biden attacks Palin for not defending.

Raising taxes
Biden says that McCain’s tax proposal would increase middle class taxes. Says that the super wealthy don’t need a tax cut. – Palin addresses how Obama wants to redistribute wealth. Tells government to get out of the way and let the private sector work. Talks about how McCain wants to give health care tax credit for those who get health care on their own. – Biden doesn’t call it redistribution but rather fairness. Calls McCain’s health care proposal a bridge to nowhere.

Bailout this week
Biden says doesn’t want to give Exxon a tax credit but he wants to create alternative energy jobs. (Exxon invests millions of their own money for alternative energy sources.) – Palin talks about how the people come first, and tells how she broke up the monopoly in Alaska that Obama voted for. Says the bailout plan needs to have MASSIVE OVERSIGHT. – Biden says that Obama/Biden want to do what Palin did in Alaska with the windfall profit tax.

Economy – Made harder to get out of mortgage debt/bankruptcy
Palin praises McCain for calling out this problem years ago. – Biden admits he voted against Obama on this issue. – Palin goes back to energy independence saying it is too important not to. Says that America is giving too many other countries OUR money. Talks about how energy independence is vital.

Energy Independence
Palin says doesn’t want to argue about climate change, but wants to focus on energy independence. – Biden says that the climate change is “manmade.” – Palin says that the people know drilling isn’t the answer but that it can be used to help. Says that Obama and Biden have voted against all ideas. Says that McCain supports an all-the-above plan. McCain supports clean-coal. – Biden supports clean-coal.

Do you support same sex benefits?
Biden says that when in office, would make same sex marriages would have the same Constitutional rights as hetrosexual couples. – Palin says it is tollerant to allow people to make their own choices as couples. Supports “traditional marriage.” – Biden says Obama/Biden pretty much doesn’t support gay marriage. – Palin says they agree.

Exit strategy in Iraq?
Palin says that we have a great plan and attacks saying Obama voted against the surge and troop funding. Says that we DO have an exit plan, and can start moving troops into Afghanistan. – Biden says we need a timeline and we spend too much to fund the troops. – Palin says Obama/Biden plan is a white flag plan. Attacks Biden on how he would be happy to run with McCain, and then attacks saying Biden didn’t think Obama was ready. – Biden says McCain has been dead wrong on the fundamentals of the war.

Greater threat – Nuclear Iran or Unstable Pakistan
Biden says Pakistan has nuclear weapons and is very dangerous. Says we need to support the government of Pakistan. – Palin says a nuclear armed Iran is too dangerous of an idea. Refers to the Axis of Evil as leaders Obama would sit down with them without preconditions. Says it is beyond bad judgement. – Biden says Obama didn’t say that he would sit down with Ahmedinejad.

Israel support?
Palin is for support. – Biden says no one else feels stronger for Israel than him. Says that Iran is on the march. Says that we do need to support Israel. – Palin happy they both love Israel. Says reform is coming, and the power will be put back into the hands of the people. – Biden says that McCain’s policy is the same as Bush.

Nuclear weaponry – when to step in?
Palin says we need to have our friends need to back us in not allowing others to use nuclear weaponry. Says Obama thinks we are doing nothing but dropping bombs on houses in Afghanistan. – Biden says we need a surge and to spend more money in Afghanistan. Says we need to have nuclear weapon oversight. (But Obama didn’t want either for Iraq.)

Dar fur
Biden says stable government in Bosnia. Says we can impose a No-Fly zone and should. – Palin says they voted for war before they were against it, or vise-versa. Says should be a No-Fly zone over Dar fur. – Biden says should be a line drawn on when to engage or intervene. – Palin still questioning how Obama and Biden voted about the war. Says McCain knows how to win a war.

Presidency is a heart-beat away
Biden says that Obama presidency would be different than Biden presidency, but would carry out Obama’s policies. Says this is the most important election in history. – Palin says would continue McCain’s policies, and put more power back into hands of the people. Bring more small town to Washington. – Biden says McCain is no different than Bush. – Palin attacks Biden on comparing McCain to Bush saying “say it ain’t so Joe.” Says would focus more attention on education.

Vice Presidency (Jokes?)
Palin says we all know what the Vice Presidency does. Discusses how she really wants to work on education and children with special needs. – Biden says Obama wanted his help to govern. (Does that mean that Barack openly says he isn’t qualified?) Says Cheney is the most dangerous Vice President.

Conventional wisdom – Palin: experience – Biden: lack of dicipline
Palin explains she is plenty experienced. – Biden talks about things he has “done.”

Single policy issue you have change view on?
Biden intellectually changed view on judges. – Palin says never really compromized on anything, but came to agreement.

Change tone for Bi-partisan?
Biden says has worked across the lines. Says has never questioned someones motive. – Palin says it doesn’t matter where you come from, but rather how you work together.

Closing statements
Palin says she just wants to talk to the people, and doesn’t like to talk to the MSM. Says that we need to fight for our freedoms and protect them. Quotes Regan. – Biden says this is the most important election in history. Says that America got knocked down, and needs to get up.

The Senate passed the bill with a vote of 74 – 25.

Did your Senator vote the way you wanted them too? Click the following link to see:

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00212

Tonight the Senate will vote on this “bailout.”

Please take the time to read and understand.

Also, please call your Senators to let them know how you want them to vote!

http://www.foxnews.com/projects/pdf/AYO08C32_xml.pdf

http://www.foxnews.com/projects/pdf/rescuebill_First_Draft.pdf

This is the current draft proposal for the “bailout”.

Please take the time to read and understand this “bailout” proposal.

A deeper look into this draft will be discussed soon.

Posted as provided by FOXNEWS.com

Draft Proposal of the Financial Rescue Bill

Sunday , September 28, 2008

REINVEST, REIMBURSE, REFORM

IMPROVING THE FINANCIAL RESCUE LEGISLATION

Significant bipartisan work has built consensus around dramatic improvements to the original Bush-Paulson plan to stabilize American financial markets — including cutting in half the Administration’s initial request for $700 billion and requiring Congressional review for any future commitment of taxpayers’ funds. If the government loses money, the financial industry will pay back the taxpayers

3 Phases of a Financial Rescue with Strong Taxpayer Protections.

• Reinvest in the troubled financial markets … to stabilize our economy and insulate Main Street from Wall Street

• Reimburse the taxpayer … through ownership of shares and appreciation in the value of purchased assets

• Reform business-as-usual on Wall Street … strong Congressional oversight and no golden parachutes

CRITICAL IMPROVEMENTS TO THE RESCUE PLAN.
Democrats have insisted from day one on substantial changes to make the Bush-Paulson plan acceptable — protecting American taxpayers and Main Street — and these elements will be included in the legislation

Protection for taxpayers, ensuring THEY share IN ANY profits
• Cuts the payment of $700 billion in half and conditions future payments on Congressional review
• Gives taxpayers an ownership stake and profit-making opportunities with participating companies
• Puts taxpayers first in line to recover assets if participating company fails
• Guarantees taxpayers are repaid in full — if other protections have not actually produced a profit
• Allows the government to purchase troubled assets from pension plans, local governments, and small banks that serve low- and middle-income families

Limits on excessive compensation for CEOs and executives

New restrictions on CEO and executive compensation for participating companies:

• No multi-million dollar golden parachutes
• Limits CEO compensation that encourages unnecessary risk-taking
• Recovers bonuses paid based on promised gains that later turn out to be false or inaccurate

Strong independent oversight and transparency

Four separate independent oversight entities or processes to protect the taxpayer

• A strong oversight board appointed by bipartisan leaders of Congress
• A GAO presence at Treasury to oversee the program and conduct audits to ensure strong internal controls, and to prevent waste, fraud, and abuse
• An independent Inspector General to monitor the Treasury Secretary’s decisions
• Transparency — requiring posting of transactions online — to help jumpstart private sector demand

Meaningful judicial review of the Treasury Secretary’s actions

Help to prevent home foreclosures crippling the American economy

• The government can use its power as the owner of mortgages and mortgage backed securities to facilitate loan modifications (such as, reduced principal or interest rate, lengthened time to pay back the mortgage) to help reduce the 2 million projected foreclosures in the next year

• Extends provision (passed earlier in this Congress) to stop tax liability on mortgage foreclosures

• Helps save small businesses that need credit by aiding small community banks hurt by the mortgage crisis — allowing these banks to deduct losses from investments in Fannie Mae and Freddie Mac stocks

Office of Speaker Nancy Pelosi – September 28, 2008

In case you missed the Presidential Debate on Friday, September 26, 2008, here is the full video with compliments to CSPAN.