Group of House Reps to undercut Senate bill?

[RoyalShock]

Was reading on another forum that Bloomberg is saying there is a group of 23 House Republicans (20 of whom voted No on Monday) planning to offer an amendment limiting the bailout to $250 billion (any additional in the future would require Congressional approval) and remove the $100 billion of pork. If passed, they would vote for the bill. Has anyone else heard this?

Sounds like a brilliant scheme, as Bush would likely veto it even though they left the power to buy from foreigners.

 

[tpreitzel]

Hardly brilliant, but better than the current bill. I have a hunch that as long as the non-reviewable power given to the Secretary of the Treasury remains intact, Bush would sign it. IMO, this whole scheme is about a much larger picture, integration of the US into the NAU.

 

[RoyalShock]

I think the brilliancy is that it is going to expose the power-grab should it get vetoed by Bush. If the amendment fails, it could make the Senate version fail worse than the House version. If everything passes it could at least minimize the overall hit to the taxpayer.

With the potentially amended bill, if Paulson can't come back to Congress in six months, or however long it will take blow through $250B, and prove that the first $250 billion is working, he gets no more (or at least, that is the theory).

 

[LibertyCzar]

Any amendment is a good thing because it delays action. I was listening to Pelosi, and she says that if the legislation is amended, it will take weeks to be passed by the Senate again. By then, the chicken littles will be proved wrong.

 

[Ex Post Facto]

Was just watching C-Span and I can confirm there is a amendment proposed that limits spending to 200 Billion and removes all the pork. They are saying 200 B is a lot easier to swallow and gives them more time to consider other options. They say if the pork is removed, and 200 B the new standard instead of 700 B this would pass overwhelmingly and the senate might vote against it, because it isn't enough.

They are asking the senate to come out publicly if the pork is removed would they support it tomorrow.

 

[pacelli]

With the potentially amended bill, if Paulson can't come back to Congress in six months, or however long it will take blow through $250B, and prove that the first $250 billion is working, he gets no more (or at least, that is the theory).

Paulson is gone January 20th. I'm sure it'll take him less than a month to blow through it though

 

[ihsv]

I'm honestly starting to think they'll just skip the Amero and come up with a global economic system. Europe's in trouble, Asian stocks are in trouble... it's like the whole financial world is burning to the ground. Perfect foundation to build a New World Economic Order

 

[Lord Xar]

After reviewing Schiff's comments and what ultimately happens during hyperinflation -- I truly believe this is a lead in for the Amero.

During Hyperinflation, usually a new currency is created. We could have something like 1 thousand dollars equals 1 amero dollar etc..

 

[AJ Antimony]

Who knows what would happen if this amendment passed and then the bill passed. Remember the House would then have to form a conference committee with the Senate to produce an identical bill for both houses. I'd imagine going from $700B to $250B would have more Senators voting No than voting Yes.

 

[afmatt]

Who knows what would happen if this amendment passed and then the bill passed. Remember the House would then have to form a conference committee with the Senate to produce an identical bill for both houses. I'd imagine going from $700B to $250B would have more Senators voting No than voting Yes.

GREAT! Bring on the infighting I say! Hopefully the senate will get so fed up it will give up.

 

[Sarge]

DeFazio on C Span blasting Paulson and telling all that China is treatening us. WOW.

Another 1 Trillion in junk coming down the road. He said DON't do it. He was on the house floor.

Kaptur now on C Span ripping. Now 850 B bill.

 

[Sematary]

Was reading on another forum that Bloomberg is saying there is a group of 23 House Republicans (20 of whom voted No on Monday) planning to offer an amendment limiting the bailout to $250 billion (any additional in the future would require Congressional approval) and remove the $100 billion of pork. If passed, they would vote for the bill. Has anyone else heard this?

Sounds like a brilliant scheme, as Bush would likely veto it even though they left the power to buy from foreigners.

If they manage to get that inserted it will get sent back to the Senate where they will either "tweak" it or reject it and send it back to the house. Either way - a "nothing gets done" scenario that I can live with.

 

[Sarge]

Someone needs to get a you tube up on DeFazio speech tonight on C Span and make it go viral. Please

 

[freelance]

I'm honestly starting to think they'll just skip the Amero and come up with a global economic system. Europe's in trouble, Asian stocks are in trouble... it's like the whole financial world is burning to the ground. Perfect foundation to build a New World Economic Order

That's what I've been thinking, because of the heavy involvement of Europe in this, and remember that there is an agreement to "harmonize" with the EU, as well. Search for it--this info came out at least six months ago. One of the people on the "taskforce" is Hagel. That might explain why he's retiring.

 

[MsDoodahs]

Sarge, who is Defazio?

 

[Sarge]

A house Rep. He blasted them. I think it is spelled DeFazio.

He called out the whole crooked scheme.

First to call out on the floor that it is China that is going to benefit due to the threats.

 

[tonesforjonesbones]

Maybe if they keep batting it back and forth ...the market will start to fix itself and they'll leave everything alone. T.

 

[Sarge]

Found it Peter DeFazio he is a Democrat.

One of their own calling it a fraud.

 

[jmdrake]

Was reading on another forum that Bloomberg is saying there is a group of 23 House Republicans (20 of whom voted No on Monday) planning to offer an amendment limiting the bailout to $250 billion (any additional in the future would require Congressional approval) and remove the $100 billion of pork. If passed, they would vote for the bill. Has anyone else heard this?

Sounds like a brilliant scheme, as Bush would likely veto it even though they left the power to buy from foreigners.

I read in a newspaper report over the weekend that Paulson said he'd "only" spend 50 billion a month. Assuming that he doesn't get picked up by the next administration (safe assumption) he could only spend 150 billion before leaving office. Maybe he was asking for 700 billion so that they could come to the "compromise" figure of 150 billion or more? Once this bill gets past the first time and we're over the initial "shock" it will be easy to come back for more billions next year.

 

[bojo68]

He's a democrat from Oregon, that represents Eugene, Oregons version of California's Bezerkly. Despite all that, and being full of democrat bs, he has some integrity and brains. Further I just got off the phone with one of his aids, and they know I know him because I told them the model of the old car he used in a campaign a couple terms back. He's actually amazing, not many people can full of democrat stuff and still see the forest.