Kucinich on Why Bailout is Being Rushed & Why It Shouldn't Be

[Hissyspit]

Run time: 05:47 http://www.youtube.com/watch?v=AS6k369DbA4   Posted on YouTube: September 29, 2008 By YouTube Member: yrrmom Views on YouTube: 5927   Posted on DU: September 29, 2008 By DU Member: Hissyspit Views on DU: 8836

 
Democratic Congressman Dennis Kucinich will vote against the big bailout bill that Congress is attempting to rush through. He discusses the need to examine alternatives to bailout. He says the bill benefits only those at the top who abused the system.

[Cronus Protagonist]

1. As usual, Dennis cuts through the crap

And shames the chicken littles of the world.

[L0oniX]

2. Kucinich ...one of the few that I can trust.

[TeeYiYi]

5. Love Dennis Kucinich. Must see video. ...nt

TYY

[Kaleko]

71. Yar!

[FREEWILL56]

75. Ditto. K&R Dennis.

[aldo]

3. Saw him this morning, loved it

Can we make his statement a unity statement for the Democratic Party?

[marshall]

41. Dennis is behind the American people, even when it means aligning with Republicans

That's a true patriot--he defies Pelosi and votes for what he thinks is the right thing to do.

[mikelgb]

4. thanks Dennis, and thanks for helping defeat this fucked up bailout

[pberq]

6. Dennis is great - thanks for posting!

[OhioChick]

7. Dennis is the man!

One of the few good guys left.

K&R

[LynnTheDem]

8. Thanks, Dennis...and thanks to the DUers who refuse to be duped

tricked conned rushed into total bushit. Again.

This "bailout" is total bullshit.

[pberq]

12. Absolutely, Lynn

How is that so many on DU have bought into this scam?

[LynnTheDem]

21. Same as how 70% bought into the "Iraq did 911" bullshit, I guess.

I just don't get it.

[girl gone mad]

9. Excellent.

Pelosi didn't stop and think. Go back to the drawing board and write us a bill that makes Wall Street pay for their own failures. Don't be panicked into passing bad legislation.

[BearSquirrel2]

25. Pelosi is bought off

Nancy Pelosi is bought off. And I agree, if the issue is liquidity offer financial backing to firms that didn't fuck up so badly.

These guys gambled and lost. Worse yet, they made big money selling and buying this shit, now they want to get paid twice.

There are alternatives to a bailout. Democrats should vote against this along with the Republicans.

[barbiegeek]

48. Maybe Nancy let it fail so Repugs look bad

Maybe Nancy is smarter that you think. The Dems told the Repub that they had to vote to pass this or it would fail. By letting it fail, the Repugs have the mess in their lap. I think it was brilliant if thats what she did.

[skyounkin]

62. No-

sorry but pelosi is an idiot.

bush says jump and she asks "how high, mr. president?"

[whistle]

10. Set up a surtax on ever trade of .65% of the value funnel that to the U.S. Treasury

...and make Wall Street pay for its own mistakes. Also recoup the $350 billion Bush/Pau;lson already added to the deficit

[LatteLibertine]

11. Go Dennis!

Nt.

[greyghost]

13. Way too go Dennis! Way too go!

[Cartaphelius]

14. You all missed the message!

If you listen to Mr. Kucinich you will hear him talk of an amount of money that is almost beyond comprehension.

The entire world has an approximate GDP of $60 TRILLION per year. Mr. Kucinich told us about much debt there REALLY is.

You ready? One half of a QUADRILLION dollars. How much is that? $5000 TRILLION and counting...

How, pray tell, do you pay a bill that has come due for $5000 Trillion when you have less than $60 Trillion (assuming everyone
in the world sends every penny, nickle and dime they own to Wall Street).

The second part of his message was that this was NOT an accident... Wait, he actually said, "It is hard to believe was an accident.."

It was no accident. The Republican Bankruptcy laws specifically identify the nature of this debt exempt and must be paid in full. Further Phil Graham sponsored a Finance Reform Bill, created by the financial sector lobbyist, that created the financial instruments (credit default swaps) that are completely unregulated and have been labeled "weapons of financial mass destruction" by guys like Warren Buffet and Ben Stein.

The plausible solution for the biggest theft in the world, which if you combined all the other thefts in history would fall woefully short of this one, is Financial Terrorism plain and simple. What better way to subdue a society, a people, a nation, the world than to make the 99%, us, paupers. Unable to fight of the absolute control of those that believe they know what is best for you and I. Why do you think the 14,000 richest Americans, that we know about, were hiding 100's of Billions of dollars in foreign banks?

The "tell" that of which I speak is more accurate than even I want to believe, was shown on National Television. When George Bush, the man who guaranteed our security from attack from terrorists, both foreign and domestic, addressed the nation claiming calamity and an immediate response in the form of a massive bale-out, not only failed to address the actual depth of the situation but he failed it identifying the perpetrators as terrorists, which clearly they are. Not so damning on its face unless you consider two more "tells".

When, please tell me, was the last time George compromised, hell, literally beg, PUBLIC ALLY for anything he and his administration wanted? Think about it. While you are, the other shoe drops. Imagine, the Bush Administration having a plan in place ready to deal with this problem, which come to find out, they have had, in their hands, for 8 maybe 14 weeks but are only telling us now. Really?
How about 8 years? I'll go you one better. Since at least the Reagan Administration. All they needed to do was plug in the numbers and viola!

I don't know about you, but friends, we've been had, yet again, by the Rich and their Republican lap dogs. Only this time, they don't
even want us to have dumpsters to feed from let alone table scraps.

Plain and simple, this is Terrorism. Demand that your representatives treat as such. Only by invoking the Patriot Act and calling this fleecing what it truly is, can we escape this problem. In doing so, George, Dick, Phil and all the other cronies will be branded no better than Osama Bin Laden.

All my best to all of you in the days ahead.

Don't forget that all it takes for the bad guys (and women) to win is for the good men (and women) to do nothing.

I would have liked to give due credit for the above quote but my memory is stewing in the boiling cauldron that is today..

Caio...

[greyghost]

15. Edmund Burke. The actual quote is:

"The only thing necessary for the triumph is for good men to do nothing."

[Cartaphelius]

16. grey...

Thank you for the source...but shouldn't it read, ..."for the triumph of evil..."

This quite has been stated every which way so many times my aged adel led brain has lost any resemblance of cohesion.

Be safe!

[greyghost]

18. ‘All that is necessary for the triumph of evil is that good men do nothing’

Yep, I hit select all the first time too.

BTW, your post was still 4 stars.

[Mr_Jefferson_24]

20. It's occured to me, and others I'm sure, that the very legislation these criminals...

...had pushed through Congress to make it easy for them to have any U.S. citizen arrested and held indefinitely without charges, hearings, or a trial of any kind, could theoretically also be used to do the same thing to them.

This is why I still can't shake the sick, gnawing feeling in my gut that these folks won't be relinquishing power in January next year.

This feeling became much stronger when I watched this video a couple months ago:

http://www.youtube.com/watch?v=huHj6dSKeZA

[ForeignSpectator]

33. It's 500 trillion though...

[OwnedByFerrets]

81. ....

"I don't know about you, but friends, we've been had, yet again, by the Rich and their Republican lap dogs. Only this time, they don't
even want us to have dumpsters to feed from let alone table scraps. "

They dont even care if we DO have to live from dumpsters. They have theirs stashed away.....prob in gold, but assuredly in foreign markets. Word is that Cheney has 75% of his portfolio in foreign markets. They have been planning this for a long time.

[RoccoR5955]

82. Thank You!

Yes, that is what Kucinich has been saying. It goes back further than Raygun, it goes back to when the New Deal was first brought into law. The conservatives, the fat cats did not want one bit of it. Now they just want revenge, and want to take EVERYTHING away from the middle class, just so that they can have more.

Thank You sir, and thank you Dennis. Both TRUE patriots.

[Mr_Jefferson_24]

17. K&R. We are in absolutely desperate need of more...

...people like Kucinich in Washington.

[greyghost]

19. Damn straight. eom

[Norrin Radd]

22. kr

[slay]

23. Thanks for posting this Hissyspit

I trust Dennis more than anyone else in congress.

[bjobotts]

24. Get as much as they can before they are forced from power. eh.

[Kitty Herder]

26. Poor Dennis. He looks like he hasn't slept in days.

You can tell this is eating him up and he's been working his ass off to fight the bad bill and create a decent alternative. He's a good man.

[lostnfound]

27. Unlike many of his colleagues, he's probably been up late reading.

It's so refreshing to hear him because he obviously does his homework.

[Kitty Herder]

28. Yep. nt

[redqueen]

59. He's one of the only people in DC that I trust to know the nuts and bolts of a bill.

Too many of them don't read these bills at all...

[moodforaday]

29. Fully K&R'ed!

Nobody says there is no problem. But the proposed bailout did not address it.

[pleah]

30. K&R Biggest transfer of wealth in our nations history.

I think that is what is going on with this thing. Fear, fear, fear, sign, sign, sign! Why aren't the people up there paying more attention. Or are they in on this scheme.

[spelldmilk]

31. manufactured crisis…

yupyupyupyup…Punch drunk, greedy, insatiable, nasty jackals…Thank god Kucinich keeps mentioning "alternatives." Paulson's myopic plan needs to be countered, and the paper offered yesterday is no such a measure.
Thank you for the vid!

[Auggie]

42. Disaster Capitalism at work, folks.

[victordrazen]

57. Yes, "manufactured crisis" and not the first

from this regime.

[dhpgetsit]

32. Kucinich ROCKS!

[baldguy]

34. "This doesn't smell right..."

Amen, brother.

[knixphan]

35. K&R

[Popol Vuh]

36. The only thing we have to fear is fear itself...

n/t

[valerief]

37. Manufactured crisis is right. nt

[NoFederales]

38. Why not propose a Hoover-style insurance deposit for these companies?

The 'bailout' is wrong IMO, but a fix is needed to keep credit moving. No rewards for the bastards who screwed up by fleecing the markets, NO bailouts for these bastards on the public dime.

It's bad enough for the situation to be happening, but to cloud it with presidential politics is beyond the norm--it's a screwed up predicament. INSURANCE that these bastards pay for, that the feds can control, I believe that the Public can understand and would accept, but not this current ruse.

NoFederales

EDIT: To mention FEAR, the trump that motivates--how many normally sane people are being driven by this latest fear-mongoring feat?

[onlyadream]

39. The voice of reason...

I'm glad not everyone is fooled by this bailout!
I'm going to e-mail this youtube link to everyone I know!

[davidwparker]

40. I liked the idea about the taxing stock transfers and other activities that

make the fat cats pay for their greed.

[xiamiam]

43. i dont understand this..but in my gut it doesnt smell right...too hurried...like the patriot act,

iraq war, no bid contracts after katrina, etc etc..kucinich always speaks for me..i believe him and trust him..

[2Design]

44. I follow dennis - he is trustworthy - n/t

[marions ghost]

45. I'm so tired of the lies and corruption

Dennis Kucinich Thank you Dennis

Thanks for posting the video,Hissyspit

[furgee]

46. He has always been right

Dennis has been right from the start - the war, impeachment and now the bailout. Why won't anyone listen

[suzie]

85. It's Amazing to Read the Comments on this Site

Dennis Kucinich is an interesting and somewhat charming guy, but he's nothing more than a showman. Does he have the interest of mainstreet Americans at heart, or simply the interest in making Dennis Kucinich more 'important' on the national scene?

[MrsBrady]

47. K&R n/t

[fascisthunter]

49. Yet We Have Many Who Would Rather Rush into This

and pass a bad bill screwing us for generations to come.....

[Sorceress]

50. Thank you for posting this.

I have been struggling on this issue for the past two weeks. Instinctively, it doesn't sit right with me but I regrettably admit I know nothing about economics. Kucinich is expressing my concerns and I agree with a poster upthread who said the rush of the new bailout legislation felt just like the rush of the Patriot Act which we all know was intentionally rushed, used fear and terror and abused our trust in an effort to conceal the true nature and threat of the bill. I feel like my concerns have some credibility now.

Thanks again for posting this.

[nightrain]

51. Bravo Kucinich. A rare voice in the House. Too bad that Obama

doesn't see it that way also! I'll still vote for him though...

[jamesatemple]

52. Does it make you wonder...

...why Obama hasn't included Dennis in his roundtable of advisors? Perhaps he has and I don't know about it. Still, we have two of our most trusted representatives, Obama and Kucinich, on opposite sides of the issue of supporting the "bailout" bill, which (fortunately, I guess) failed to pass.

My, what a conundrum! We're hoping, working, some praying for Obama to be successful in the Presidential election. At the same time, a great many of us question whether Obama's support for the bailout bill is the right position for him to take.

Fortunately, with the failure of the initial legislation, maybe those opposing positions can be modified by sheer intellect, hard work, and creative thinking by good men and women on both sides of the aisle. I'm awfully anxious about the fall of the Dow-Jones average, hope it doesn't hurt us severly, and hope it stabalizes in the short term after an "adjustment" of incredible proportions.

This moment in history may very well be recorded by our posterity as: 1) the failure of the American experiment of Democratic government; 2)the time when Americans of all races, social classes, and cultures, leaders and led, came together to save the underpinnings of the entire financial system; or, 3) the point in time when the Country began its long, slow, painful crawl towards financial solvency.

Sometimes, I wish I believed in a god, which I could entreat for help in the matter. Instead, I must put my faith, hope, and confidence in mortals, insisting that they act in the interest of all the citizens of the Country...believing that their efforts can be successful.

[AlbertCat]

53. Waxing poetic, we are.

1) the failure of the American experiment of Democratic government;


That has already happened...in the 2000 election.



2)the time when Americans of all races, social classes, and cultures, leaders and led, came together to save the underpinnings of the entire financial system;


This is not a Judy Garland/Mickey Rooney film!



or, 3) the point in time when the Country began its long, slow, painful crawl toward financial solvency.

I wouldn't count on that either. What we can hope for is another 2x4 to prop up this leaning structure for another couple of centuries that won't be completely worm-ridden and maybe even help the little people just a bit for a little while.

The most annoying thing about those "poor bankers" who created this mess and now want us to pay for it is, they are STILL doing well even if they fail. I don't think any of them will be moving into a cardboard box or even a slum if their bank goes down.

Any assistance must come with a slew of regulations to ensure not only this doesn't happen again any time soon (gee...I wonder how many of those will be just like the ones killed by Graham and the GOP...), but also makes the banks pay even a little for their mistakes.

[jamesatemple]

58. Heh, heh! Waxing cynic, we are!

"That has already happened...in the 2000 election."

Ah, AlbertCat. Tell me that you don't really believe that "the American experiment of Democratic government" is dead. Couldn't you hold out for "the experiment has taken its 'lumps' lately"? Adding, "Perhaps the patient could come out of a coma and regain its health"?

"This is not a Judy Garland/Mickey Rooney film!"

Quite true. Still, someone predicting a possible future event should have the poetic license to envison whatever outcome appeals to him or her. Hope isn't limited by cynicism; it can be promoted with a utopian view if desired. There are plenty of good people around to label hope for the future as "Pollyanna", "unrealistic", "fanciful" "naive", and other deriding terms. That is their opinion, and yours, it seems. They and you have the right to state it. Where we differ on this point is our remarks about the other's opinion: I should hope to offer insight for your consideration that might or might not affect your stance; your approach is to deride a hoped-for future result!

"I wouldn't count on that either."

Well, Al, maybe should just visit about the weather, not hope. I trust that you'll begin to feel better about the future if and when things improve, when enough optimists keep working hard to make sure that American dream isn't dead. I'm voting for an optimist. How about you?

[vincenzoesq]

54. to Bail or not to Bail?

I feel very weird agreeing with the far right repubs. And I sure know little about financial matters. But how can we believe
the Little Bush who cried wolf?

[lelgt60]

76. We are not agreeing with the Republicans...

1. They are voting against this bill because: a) They want to get re-elected, and b) they STILL don't believe in government involvement in the economy.

2. We are voting against this bill because: a) It doesn't address the actions of the people who caused this (it wasn't just "bad judgment" or "bad luck"), b) It doesn't help the victims of the problem, and c) It doesn't do anything to prevent the problem in the future.

Completely different reasons. One set bad. One set good.

[slipslidingaway]

55. No alternatives presented...And if you read the fine print

http://www.democracynow.org/2008/9/29/is_this_the_unite...

"...REP. DENNIS KUCINICH: This is a copy of the bill which will provide for a $700 billion bailout of Wall Street. It has provisions in it where it talks about helping homeowners, but when you read the fine print, you see it has language like “may” instead of “shall” and “encouraging” instead of “mandating” help for the millions of homeowners who are worried right now about whether they’re going to lose their home. There’s no help for them in this...


Last week an analyst for Miller Tabak mentioned the 40 billion in dividends being paid out by the 20 largest banks...why are those not being suspended???


Peter Boockvar - Will Bailout Help
http://www.youtube.com/watch?v=zP7ZvzDqaTM

[redqueen]

60. Not So Much Bail-Out As Rip-Off - must-read piece from the Guardian.

http://www.democraticunderground.com/discuss/duboard.ph...


It's galling that our lawmakers watched this problem grow to this size, and seemingly did NO research on the best way to address it.

[slipslidingaway]

63. Thanks :) I knew about this problem years ago from reading

various investment boards, there is no way that some in Congress should have missed this freight train.

Also annoyed that Obama is pushing this bill.





Lipstick on a pig IMHO....

Obama Shows More Leadership - Proposes Raising FDIC Limit To $250,000

http://www.democraticunderground.com/discuss/duboard.ph...

"...“The bill rejected yesterday was a marked improvement over the original blank check proposed by the Bush Administration. It included restraints on CEO pay, protections for homeowners, strict oversight as to how the money is spent, and an assurance that taxpayers will recover their money once the economy recovers. Given the progress we have made, I believe we are unlikely to succeed if we start from scratch or reopen negotiations about the core elements of the agreement. But in order to pass this plan, we must do more...

“One step we could take to potentially broaden support for the legislation and shore up our economy would be to expand federal deposit insurance for families and small businesses across America who have invested their money in our banks...

“I will be talking to leaders and members of Congress later today to offer this idea and urge them to act without delay to pass a rescue plan,” said Barack Obama."

[redqueen]

64. I'm really worried about the bill...

we really shouldn't repeat Japan's mistakes, or anyone else's.

[slipslidingaway]

66. Me too and I do not want to pass this debt onto my children...

although some say it is an investment.



Well the good thing is that my children now have an interest in what I've been babbling about for years.

[ihavenobias]

67. Good catch n/t

[slipslidingaway]

68. Thanks :) n/t

[jrlee2]

56. He's against the bill

BECAUSE HE READ IT! Once Again. Thats what I like about Dennis, he's not some genius who knows everything. He sees things for what they are and then tells it like it is.

[skyounkin]

65. OMG!!

I forgot about that quote!!

Damn I love you Senator Dennis.

(no, I can't spell your last name from memory)

[Barbara2423]

61. Kucinich on Why Bail Out is Being Rushed & Why It Shouldn't Be

Barack should listen to this guy.  If they don't use language
like "must" or "will" help homeowners in
the bill, I guarantee you the Administration will not do it. 
I work for the government I know how they play these games. 

[defendandprotect]

69. This is the voice of common sense vs manufactured "crisis" --

Thank you again, Sen. Kucinick --!!!

[juno jones]

70. Wanna talk Mavericks?

Kuchinich is a REAL example of the breed. I trust the man.

Go Dennis.

[BrklynLiberal]

72. KIcked and recommended...

[pjt7]

73. Just an amazing break-down

& I hope Dennis worked w/ some fiscal Republicans in smashing this bill, as it would only increase his power & reach~

[mcollier]

74. Surely Everyone must know by now...

It's clear that this whole "Bailout" episode is a demented plot to prey on the easy programmability of the American People, in that the bush administration proclaims to the entire world that the America is on the brink of finanical ruin ( Treasonous offense for a President IMO ), then asks Congress to immediately handover $700 billion of tax payer money no questions asked... ( Impeachable offense # 2 IMO ) knowing full well it would enrage almost the entire population. Thus daring congress to vote in support of the bill and risk losing their local election or not supporting the bailout and run the risk of being blamed for the market collapse. Then majority of republicans vote against the bailout bill even as the republican president, McCain, Palin and others demanding the bill get passed..... Hummmmm....

WHAT I SEE IS THE REPUBLICANS ARE WILLING TO DESTROY THE COUNTRY IN ORDER TO WIN AN ELECTION....

This ad proves the SHAMEFUL STRATEGY THE REPUBLICANS ARE ENGAGED IN!

Firing Squad!!! These A$$ Holes...

[DissedByBush]

77. Kucinich sees the obvious

They need to rush so they can pass a bad law without enough discussion. It's exactly how they rushed the Patriot Act through.

[LatteLibertine]

78. They

can keep their bailout and their credit. No, I am not wealthy, I simply live within my means.

[BrklynLiberal]

79. One more kick...

[Vattel]

80. I don't pretend to know

what's best here. need more facts, fewer opinions. Kucinich's being against it makes me worried, but Barney Franks' (my favorite Democrat) being for it makes me think it's the right decision.

[TxBlue]

83. K&R

[LatteLibertine]

84. Something does need to be done

and NOT the bail out in its current form. There are actually quite a few good ideas floating around out there. Some actually would make Wall Street bailout Wall Street. They give 700+ Billion to the people that created this mess they will just be back for more, and it doesn't address the problems that created the credit crunch.

If you want to oppose the bailout try below-

http://www.votenobailout.org/

[Duppers]

86. you need to cross post in GD

if you've not already. Great post, as always, Hissy.

Bravo for Dennis.

Some thing needs to be done. A bill needs to be passed to save the credit markets, just not this bill.

[OakCliffDem]

87. Kick