Good speech. Too bad he didn’t have time to mention that Fannie and Freddie were also at fault.

The thing here is that people knew these toxic assets were out there 4 tears ago, and did nothing. Those who did act, did so to shield efforts to fix it. They stood in the way. (reference the now famous YouTube video)

Who will answer for those crimes. No one I am certain.

A lot of people hung out the American people to dry in the name of “not being called racist” or to get reelected, or to dole out more gravy to voters.

Are there any men or women of character left who will not behave this way anymore?

even after the part where he said that Paulson would be given the kind of power that Stalin and Mao killed for. I think I deserve a medal for that. After that, I heard him talk a bunch about some plan which may or may not be better, but which has zero chance of passing in time to make a difference.

So, yeah, six months from now I hope we’ll all be able to offer snippets of this speech to pay our mortgages with. And I hope suppliers will take nice sentiments and clever rhetoric as payment for services rendered.

McCotter continues to demagogue and reinforce the false perception that the government is going to be driving $700B in cash to various Manhattan locations to line the pockets of Wall Street traders. That’s helpful. Way to inflame popular sentiment with demonstrably false implications at the cost of the American economy, Thad.

Sheesh.

ha ha ha he says it like it is. Wish there were more of him. No dash and cash for the Wall street geed machine.

We don’t need to rush into such a committal of tax payer money. This sort of thing should be deliberated for awhile.

Make the stance known we won’t let the country fall to the world, but don’t just rush into the first solution you see. That’s insane and irresponsible.

Or are the banks loathe to actually hold onto them a little bit and deal a little more on the defaulted loans?

Regardless, spot on speech by McCotter and I hope that the conservative wing of the house doesn’t crack under the Bush-Paulson-Pelosi-Frank crack quartet of stupidity.

For as much as the left likes to bash the Bush administration, why is it that every time we have a crisis and the administration cries wolf, the left keeps channeling Princess Leia… “Help me Bush Kenobi, You’re Our Only Hope”. Holy crap, think for yourselves for once.

The original 3-page version gave the Secretary of the Treasury unlimited power to spend the $700 billion as he saw fit with no oversight or appeal, judicial or otherwise.

The extra 97 or so pages may have altered that to some degree, but the original would have made Paulson the envy of every kleptocrat and tin-horn dictator in the world, very few of whom have $700 billion to distribute among their friends.

I loved the disgust with which he said, “I yield back”

he rightly blames “this administration” (AKA Bush) and thus the Bush/McCain regime. he did good.

Rep McCotter, I salute you for representing the American people faithfully. The disdain shown for the bailout in his speech is utterly appropriate.

I’ve never bought the drama with which this was passed off. I’ve never bought that this ‘solution’ actually represents one. And when 166 economists across the country say this plan ‘will not work’ that OUGHT to be taken seriously.

Shawn