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Lawmakers: Main Street spurred yes voteTuesday, October 7, 2008
George W. Bush
Troubles on Main Street, not losses on Wall Street, spurred U.S. Sen. Kit Bond and U.S. Rep. Jo Ann Emerson to vote in favor of the $700 billion rescue package, the two Republican lawmakers said Monday. After taking part in the dedication ceremony for the new U.S. courthouse, Emerson and Bond, in separate interviews, said they were pushed to approve the bank rescue plan by insight from economists and reports from constituents that credit was drying up. In the first full trading day after the bailout passed, stock markets worldwide reported heavy losses for investors as stock prices plunged. There was no immediate sign of credit loosening, as interbank interest rates remained abnormally high and European governments moved to shore up shaky banks there. Emerson, R-Cape Girardeau, who voted for both the bill that failed last Monday and the final version that passed on Friday, said the explanation of what would take place if the bill failed was too scary to contemplate. "I don't like to talk like that because I don't like to scare people, but they scared us," she said of a series of meetings she and a group of colleagues conducted with economists to gain insight into the problem. The $700 billion bailout portion of the bill passed last week will allow the U.S. Treasury to purchase mortgage-backed securities banks eagerly purchased just a couple of years ago. As foreclosures mounted and the quality of those securities has been called into question, the ability of banks to sell them in order to raise capital has evaporated. The result has toppled major investment companies Bear Stearns and Lehman Brothers, caused the forced sale of Washington Mutual and led to the imminent takeover of Wachovia Bank. The bill passed Friday also included numerous tax breaks targeted at particular industries and a one-year fix to prevent the alternative minimum tax from hitting middle-class families. Within the Eighth Congressional District, Emerson said she has spoken with a businessman in Rolla, Mo., who was told by his bank he must repay a $980,000 line of credit despite no missed payments and a Cape Girardeau businessman who was refused a bank loan even though he has a strong credit history. "At the end of the day, the easy vote was a no vote," Emerson said. "The easiest vote was a no vote. You don't know if it is going to work No. 1, and on the other hand, for me, it was, you know, if I am defeated for election over this that is all right. Our economy and keeping jobs and allowing rural America to continue prospering is worth it to me." Joe Allen, a Forsyth lawyer who is running on the Democratic ticket against Emerson, is seizing on the bailout as an opening to voters. He has raised little money, but he has been crisscrossing the district throughout the year and on Monday issued a news release denouncing the bailout. "Our people here in Southern Missouri cannot understand why Jo Ann Emerson would force us to pay off Wall Street gambling debts," Allen said in the prepared statement. "Wall Street is not a sure thing. These Wall Street types asked for, and then gambled on very risky financial instruments and lost. It is they who should pay off their gambling debts, learn a lesson and not make the same mistake again." Bond, who is up for election again in 2010, said he, too, believed the bailout was needed to avoid "a Main Street crisis." The problems caused by failing credit markets mean real job losses, Bond said. Kansas City is having trouble finding a market for $200 million in bonds, he said, and the state of Missouri was forced to alter an $800 million bridge rehabilitation project because the contractor could not find financial backing. The stock markets remain pessimistic, Bond said, because it will take time to stabilize credit markets and restore capital stocks of banks enough to allow a smooth flow of money. "We are hoping this can be put into effect in less than a couple of weeks," Bond said. "There is just a promise and it hasn't hit yet. This credit crisis has caused great uproar and has really slowed the economy down." rkeller@semissourian.com 335-6611, extension 126 Does this affect you? Have a comment? Log on to semissourian.com/today Related Links
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209
Ah, the Emerson Spin Team is coming out to try to deflect the story from Emerson's betrayal to being critical of the messenger.
How cute, yet very juvenile. It won't work. The district is mad as hell, and they aren't going to take it any more.
I wonder how many hits the Libertarian is getting, but especially, I wonder how many hits are being received on the www.allen4congress.com website of JOE ALLEN, the pro-life, 100% 2nd Amendment candidate.
We need JOE, and then "JO" can GO.....home to St.Louis, her lovely mansion home, and the arms of her Democrat contributing husband.
Robert,
PLEASE ... start taking your meds again!
W
"ResAdjudicata" aka Emerson Team spin doctor....
It is too late to try to stop the growing opposition to the sell out vote that Jo Ann Emerson made to bail out her friends, and contributors on Wall Street and the foreign banks who made fortunes in the mortgage market, then, got greedy and started placing side bets, aka derivatives, and they lost a bundle.
Now, Jo Ann Emerson, our very own East Coast Liberal Rockefeller RHINO, has thrown her lot in with these sleazy Wall Street types and she is going to force our southern Missouri doctors, farmers, business owners, convenience store clerks, K-mart employees, security guards at the Mall and at P&G, along with the men and women you will find at Wal-Mart stocking shelves at 0300 to bail Wall Street greedy gamblers and foreign bankers.
I don't think that you will find many in this area, regardless if they are true Republicans, or, Democrats who think that Jo Ann Emerson's plan to bail out these types to be a splendid idea.
Channel 12 Snooz tried to hide the Emerson's Friday vote BY NOT EVEN REPORTING IT. They should be required to register as an agent of "team Emerson-Gladney", and be listed on her FEC report as a contributor, because they contribute propaganda on her behalf and squelch the news that is not favorable to her.
Crawl back under your Emerson rock, Real Repulicans and Real Democrats have a mutual interest in this story, are going to seek out the truth.
If we all come togehter, we can give Emerson the all time she deserves to spend with her husband in St. Louis. Always wondered why she never took Mr. Gladney's name, since you are so close to her, you could tell us why she still tries to schlep though by using her long dead husband's last name, instead of going by Jo Ann Gladney, her St. Louis Democrat contributor- Unioin Labor attorney husband's name.
I am no RHINO... I am voting for JOE ALLEN... Pro-Life and 100% 2nd Amendment.
www.allen4congress.com
Robert Goodbody,
Quit clogging up the comment sections with your diatribes. Do us all a favor and get your own blog so we don't have to read your crazy ramblings.
JO ANN EMERSON.....
I still say, that no one does the ole hand shakie, smile and greet any better than Jo Ann Emerson.
I think that Emerson has a great future before her as a Wal-Mart Door Greeter. Let's see that she get's the opporortunity to do so... vote JOE ALLEN in November.
www.allen4congress.com
"WHAT MAKES YOU THINK THAT OUR VIEWERS WOULD BE INTERESTED IN KNOWING THAT JO ANN EMERSON LEFT THE COUNTRY AFTER EMERSON'S FIRST WALL STREET BANKER BAIL OUT VOTE ON MONDAY"
...Those are nearly the exact words of John B., the ASSIGNMENT EDITOR, for KFVS, Channel 12 SnoozNooz.
In a conversation with me on Tuesday, John B. Assignment Editor for KFVS-TV 12 SnoozNooz, told me that their viewers in southern Missouri would NOT be interested in knowing that after Jo Ann Emerson's vote to BAIL OUT THE WALL STREET BANKERS WHO GOT GREEDY, and, their equally, sleazy friends AT FOREIGN BANKS, that she, Jo Ann Emerson immediately got on a plane and flew out of the country, along with Ike Skelton, another congressman who had betrayed his district, and flew to Kosovo, along with a friend, the General who is head of Missouri's National Guard, and a attorney from Sikeston, Mr. Sidwell. That was another ploy to give Emerson a cover story to explain away her refusal to return to this district last week and face our questions about her vote of betrayal.
I guess that you cannot blame Jo Ann. After all, she has never really lived here among us. She does not know us, so it is understandable that she thinks that we are stupid fools that this carpet bagging Maryland girl can fool every time.
Perhaps in November we can do something nice for Jo Ann Emerson. We can bid her adieu. We can give her the time she needs to spend with her new attorney husband, Ron Gladney at their home in St. Louis. It really would be the best thing for her. Let her return to their home in St. Louis and give up the charade that she has ever represented us. She may have been the carpetbagging woman who became our congresswoman, but she has never been our "Representative."
www.allen4congress.com
The Only Truth in this story, are the quotes by Joe Allen.
This story pushes that East Coast Rockefeller Republican talking point of "We didn't Bail Out Wall Street, we are helping Main Street" Those east coast types must think that we are a bunch of dummies back here in southern Missouri, that we can be baffled by BullSh_t, and not be smart enough to see what they really did to us.
Emerson voted twice to scru us. That poor excuse of a news source, ONLY DID ONE small passing mentionon Monday, 9-29-08, that Emerson voted for the Bail Out, but KFVS PURPOSELY FAILED to report that Emerson voted again on Friday to bail out her contributors, Wall Street bankers, and FOREIGN BANKS.
Now, having a familiarity with news and news reporting, I would think that Emerson's second vote was a HUGE news story, because the Bail Out passed. But, you won't find a damn word about it on KFVS. They REFUSED to do a story on Emerson's bail out vote, nor, did they ask viewers whether we agreed with how Congresswoman Jo Ann Emerson voted. I wonder why? HMMMMMM? Could it be that they sought to give Emerson cover for her votes against us? Could it be that KFVS, was sclepping for Emerson, covering her a*s, hoping that the whole thing would go away if they just didn't report the story? I called KFVS, and, John, the assignment editor, and, one of their producers said that they thought it wasn't necessary to tell how Jo Ann Emerson had voted on Friday, nor, was it necessary to get reaction to Emerson's vote by mentioning Emerson's name and vote to those that they asked how they felt about the bail out vote.
Talk about sleazy propaganda passing as news, and you must be talking about KFVS Channel 12 Snooz. Nothing LOCAL about it. Nothing LATE BREAKING about it.. LIVE? well, maybe it is live, but it still is crappy, crappy. Propaganda is not news, it is just distorted views, used in this case by Channel 12 to distort the truth, or, more accurately, difuse the news.
News channels have been reporting that these congressmen who woted FOR the Baill Out of Wall Street and Foreign Bankers, faced about 90 to 1, calls to their office against the bill. There is no reason to believe that Emerson was any different. So, she got a couple of people who said they had financial lending problems.
The so-called "credit crisis" was invented by the bankers who wanted the Bail Out to pass. The Federal Reserve, a group of private banks, had shovelled huge sums of money to these banks to lend out and get the economy jump started again. These banks sat on the money while they floated stories that they were "scared" to lend out the money... Scared bankers? That is like saying that John Gotti, or, Al Capone were scared to loan money. The bankers sat on the money, to create a little panic among a very few businessmen, so that those businessmen would become the pawns in helping the bankers get the bail out of gambling Wall Street bankers passed. This charade, also, would give a few congressmen a cover story, "Gee, I had to vote for it, because credit got tight and some businesses would have failed." It was a CYA or CMA story.. "cover your a*s", fool the people back home, deceive the voters. It is exactly what Emerson is doing now. She has received thousands of calls from Republicans, long time supporters whom she betrayed. The problem with your story Jo Ann, is that you voted FOR the Bail Out on Monday, Sept 29, BEFORE the "credit crisis" story was cooked up later in the week to give cover for those of you who voted again on FRIDAY to Bail Out the Foreign Banks.
Being a 30 year carpetbagger, you have gotten too cocky. You think that we are all stupid, that we will vote for you no matter what. True, in the past, there were a variety of Democrats and independents who held views that were not quite in sync with those values held by most of us in southern Missouri.
Not so this election. There is a Democrat, Joe Allen, who is pro-life, and 100% pro-2nd Amendment. He has a family background of hard work, putting himself though the College of the Ozarks, where you literally WORK for your education. Then, Allen went on to a university in Oklahoma, got his law degree, and returned back to this district, a district which Jo Ann Emerosn has never lived in, and Allen went to work here.
It is a different election this time. There is a Libertarian, named Brian who is a good candidate, and there is Joe Allen, a truly excellent choice to represent us. With Jo Ann Emerson, we know what we will get, more of the same votes that ignores our wishes and goes the way the East Coast Liberal Rockefeller Republicans want her to vote. After all, Jo Ann is an east coast, Maryland girl, has never lived here, so how could we expect her to have our values?
I'm voting for "JOE"...not "Jo".
www.allen4congress.com
It's about time for the productive to go on strike.
We have been bled dry by the socialists in this nation for way too long. The only sanction they have is our willingness to endure their parasitic behavior.
Cut off the blood supply, let them all die and then pick up the pieces and start over.
I was told when I was in the Navy that loose lips sinks ships. I add loose credit sinks economies. The bailout loosens credit which makes it even more difficult for the market to correct mal-investments.
I wonder which economists Emerson and Bond were listening to. I reckon it was "Government Paycheck" economists. They do realize that the economy has to clear itself. Any interference by government risks sending this country into a depression as that is what happened under Hoover and his interference.
There is a belief that we are under a new economy and that old rules no longer apply. The old rules always apply.
Loophole—
You and me both! I will vote for someone who is willing to uphold our Constitution and someone who gives a crap about my wishes! I'm tired of these lifelong politicians whose goal seams to be bringing our nation to its knees. It's very apparent that they want their "New World Order". Can't even move to Canada to get away from `em anymore—we'll be using "Ameroes" by then.
After this extortion of the American people by our representatives, I could never vote Republican again and will never vote democratic. . I will not and cannot support any candidate that supported this ludicrous ideal. I will vote third party this year.
A very ashamed Republican
But Rocket, that's what they're counting on. If you don't vote, they win anyway.
Anyone who's angered by this should vote to throw the bums out. If enough fat cat incumbents end up on the street, the message will come through loud and clear. Contributors may pay for these elections, but we're still the folks who can vote 'em out and kick them off the Gravy Train.
It's been decided that the majority of voters did not want this to pass, but out nations' legislators arrogantly did it anyway. If given the opportunity, I will not vote to send these idiots back to Washington. It is apparent that they are only looking out for the special interest groups that had them elected/bought in the first place. They DO NOT have my best interests in mind when they place their votes.