Steve G.

Posts Tagged ‘senate bailout vote’

Schansberg encourages Hill to stand firm against bail-out

In Libertarian, Libertarian Party-US, Politics on October 1, 2008 at 12:55 pm

September 29, 2008

FOR IMMEDIATE RELEASE

Schansberg encourages Hill to stand firm against bail-out

Dr. Eric Schansberg, an economics professor and the Libertarian candidate for the U.S. Congress in Indiana’s 9th District, responded to the House defeat of the proposed $700 billion bail-out in the financial sector—and praised Rep. Baron Hill for voting against it.

Asked about Hill’s vote, Dr. Schansberg said, “It’s clear that Baron is not categorically opposed to another bail-out. And he’s not a fiscal conservative by any objective measure. So, I don’t know the reasons for his vote today. Maybe it’s the right vote for the wrong reasons. In any case, I’m thankful that he took a stand today for fiscal conservatism. Hopefully, he’ll continue to have a strong enough spine to hold that position.”

On fiscal conservatism in general and the bail-out in particular, Schansberg said: “At some point, we have to rely on markets again. And we can’t afford to borrow money to bail out industries and try to artificially boost the economy. All of our spending and debt threatens to devalue our dollar further and drive our economy into a ditch.”

On potential policy changes, Schansberg applauded Mike Sodrel’s proposal to suspend the capital gains tax and to revisit “mark-to-market” accounting rules: “From what I’ve read, ‘mark-to-market’ accounting rules are the most underrated cause of the current problems. Certainly, the sub-prime mortgage mess and government involvement in Fannie Mae and Freddie Mac are at the top of that list. But ‘mark-to-market’ combined with aspects of Sarbanes-Oxley seems to be a major contributor.”

For more information on the campaign, see: www.SchansbergForCongress.com

. To schedule an interview, contact Eric Schansberg at (812) 218-0443, Melanie Hughes at (502) 432-1930, or send an email to SchansbergForCongress@gmail.com.

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Massachusetts Libertarian U.S. Senate Candidate Bob Underwood Blasts Bailout

In Libertarian, Libertarian Party-US, Politics on October 1, 2008 at 11:58 am

Sept. 29

Springfield, MA. Libertarian U.S. Senate Candidate Bob Underwood today blasted the Paulson bank bailout. “The one group sure to lose is the American worker. That includes Americans who wish they were working. They’re struggling with their own mortgages, blamed if they’re not competitive on world markets, and now they get a bonus: Not only must they pay for their own housing, they must pick up the tab for someone else’s.

“The Donkey-Elephant dance went to bail out bankers, not to help the average American,” Underwood explained. “Some mortgage companies gave no-document loans, not even asking tax forms as evidence of income. Compare that with the grilling that most of us got when we applied for a mortgage. Under the bailout system, the executives who threw away their investors’ money will keep their mansions. Americans who could never qualify for a mortgage will be taxed to pay for homes for people who did qualify.

“Some people want to blame the person who just wanted a place to live. Borrowers just played their part in a bigger picture. For years bankers bet on inflation. As time went on, mortgage payments were supposed to get easier, because inflation drives up wages. The crisis came when outsourcing made salaries level. Borrowers couldn’t afford their mortgages.

“If you want more of the same, more ripoffs of taxpayers, just keep voting for Democrats and Republicans. For real change, vote Libertarian,” Underwood urged.

–30–

The mortgage crisis is part of a big picture discussed at
www.electbobunderwood.org

For more on why the bailout is a terrible idea, note economist-bloggers
Mike Shedlock http://globaleconomicanalysis.blogspot.com/

Bonddad
http://bonddad.blogspot.com/index.html

To contact the candidate:

Robert Joseph Underwood
83 Cherrelyn St.
Springfield, MA 01104-2441

rjunderwood2000@yahoo.com

Help stop the trillion dollar ripoff

In Personal Responsibility, Politics on October 1, 2008 at 11:40 am

Via Campaign For Liberty

The following Senators are considered key votes. Please take a moment to call these Senators and urge them to cast their vote against this dangerous legislation. And please, call your two U.S. Senators and urge them to vote no as well.

Elizabeth Dole (NC) –

* D.C.: Phone: (202) 224-6342 Fax: (202) 224-1100
* Raleigh: Phone: (919) 856-4630 Fax: (919) 856-4053

Norm Coleman (MN) –

* D.C.: Phone: (202) 224-5641 Fax: (202) 224-1152
* St. Paul: Phone: (651) 645-0323 Fax: (651) 645-3110

Roger Wicker (MS) –

* D.C.: Phone: (202) 224-6253 Fax: (202) 228-0378
* Jackson: Phone: (601) 965-4644 Fax: (601) 965-4007

Gordon Smith (OR) –

* D.C.: Phone: (202) 224-3753 Fax: (202) 228-3997
* Portland: Phone: (503) 326-3386 Fax: (503) 326-2900

Lyndsey Graham (SC) –

* D.C.: Phone: (202) 224-5972 Fax: (202) 224-3808
* Greenville: Phone: (864) 250-1417 Fax: (864) 250-4322

Ted Stevens (AK) –

* D.C.: Phone: (202) 224-3004 Fax: (202) 224-2354
* Anchorage: Phone: (907) 271-5915 Fax: (907) 258-9305

The rest of ’em

Bob Barr blasts bailout in new campaign video

In Libertarian, Libertarian Party-US, Politics on October 1, 2008 at 1:26 am

Posted at Bob Barr blog

Bob (Barr) talks about the bailout plan and wonders why the Feds are just now trying to take on the issue when they’ve know about the problem for years.

Bob says it makes no sense to give them $1 trillion to do create the same problem all over again. He adds that Republican and Democrats are both guilty for the problem and the “bogus solution” they presented.