{"id":132,"date":"2008-09-29T16:09:51","date_gmt":"2008-09-29T16:09:51","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=132"},"modified":"2008-09-29T16:09:51","modified_gmt":"2008-09-29T16:09:51","slug":"the_bailout_failed_what_happen","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=132","title":{"rendered":"The Bailout Failed, What Happens Next?"},"content":{"rendered":"<p>According to the article in <a href=\"http:\/\/www.nysun.com\/national\/house-begins-vote-on-wall-street-bailout-plan\/86803\/\">The New York Sun<\/a>&nbsp;the final vote on the bailout was 207 for and 226 against.&nbsp; 141 Democrats voted for it; 94 Democrats voted against it.&nbsp; 66 Republicans voted for it; 112 Republicans voted against it.&nbsp; There are a few things that need to be considered in viewing this vote:<\/p>\n<p>1.&nbsp; The wisdom and foresight&nbsp;of our founding fathers in setting up two branches of Congress still amazes me.&nbsp; The entire House of Representatives is up for election every two years.&nbsp; The Representatives have to be conscious of public opinion, and public opinion was overwhelmingly against this bill.&nbsp; Representatives in solid seats obviously don&#8217;t have to worry, but many of the southern Democrats ran as conservatives in the last election and cannot afford to vote yes.<\/p>\n<p>2.&nbsp; Congress will never admit that this downward spiral began with the Community Redevelopment Act in the 1970&#8217;s which was enhanced in the 1990&#8217;s.&nbsp; Any attempts to curb the foolish lending practices stemming from this act were blocked by Democrats receiving large amounts of money from Fannie Mae and Freddie Mac.&nbsp; Until we hold Congress responsible for bad legislation, we will never get the budget under control.&nbsp; Incidentally, as I write this, <a href=\"http:\/\/biz.yahoo.com\/ap\/080929\/mortgage_giants_investigations.html\">Yahoo Finance<\/a>&nbsp;is reporting that Fannie Mae and Freddie Mac are facing a federal grand jury investigation into their accounting practices.<\/p>\n<p><a href=\"http:\/\/biz.yahoo.com\/ap\/080929\/mortgage_giants_investigations.html\"><\/a>3.&nbsp; Having said the above, I believe there are ethical members of Congress.&nbsp; Hopefully, they will lead the way out of this mess.&nbsp; There were a few alternative plans offered by conservative members of the house.&nbsp; Hopefully, now that this huge transfer of wealth to the government has been rejected, some of these plans will be looked at.<\/p>\n<p>4.&nbsp; I don&#8217;t know what the correct answer to this problem is, but I feel strongly that a bigger federal deficit is not the answer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the article in The New York Sun&nbsp;the final vote on the bailout was 207 for and 226 against.&nbsp; 141 Democrats voted for it; 94 Democrats voted against it.&nbsp; 66 Republicans voted for it; 112 Republicans voted against it.&nbsp; &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=132\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-132","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=132"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}