Illinois Politics

[Lady's Human]

The bank bailout was approved by Congress, who failed to appoint an oversight agency as rapidly as they passed the bill to hand out the money.

It's a cluster...........but to blame it solely on the executive is inaccurate. (There isn't much of Pres. Bush's domestic agenda I agree with, frankly it's time for a little chlorine in the political gene pool on all sides)

[lizbud]

The bank bailout was approved by Congress, who failed to appoint an oversight agency as rapidly as they passed the bill to hand out the money.

Did you actually read the article? provisions were included in the bill but
the last minute change by the White House, effectively negated the provisions made to moniter how it was spent. We could blame the Treasury
Dept., but the change was made as requested from Bush.



Executive Pay Limits May Prove Toothless
Loophole in Bailout Provision Leaves Enforcement in Doubt



By Amit R. Paley
Washington Post Staff Writer
Monday, December 15, 2008; Page A01

Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.

But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.

[Lady's Human]

Congress coud have refused the change, leaving the admnistration to try again.

The Executive CANNOT force Congress to write legislation.

Sounds like some people on the hill need to grow a spine. If the really wanted o get something done with oversight they should have found a compromise, built a veto-proof majority, and rammed the bill down the President's throat.

[lizbud]

Sounds like some people on the hill need to grow a spine. If the really wanted o get something done with oversight they should have found a compromise, built a veto-proof majority, and rammed the bill down the President's throat.

Like that would ever be a possibility with a majority of Republicans in
the current Senate. The fact that this is happining right in the middle of
Holiday leave time for Congress is not lost on anybody.

If GWB were any kind of a real leader, he would have lead the way in
getting the economy back on track with sensible legislation instead of
sniping from the sidelines. Bush can't wait to kick this problem down the
road & let others clean things up.

[Lady's Human]

Majority of republicans?

The dems have had the majority in the Senate since the last elections.

[blue]

Majority of republicans?

The dems have had the majority in the Senate since the last elections.

Maybe Im being a tad cynical but Im seeing the House and Senate setting the President up for failure and failing, and Im seeing the President manipulating the House and Senate into failing. Or is it the other way around?

Either way Shrub has gotten what he has wanted time after time even with a Dem majority in the Congresional branch.

My brother is a Cook County resident, and a democrat, I wouldnt be suprised if he threw some shoes at Blago.

[Edwina's Secretary]

Liz, Liz, Liz....NOTHING is GW's fault. It is always the fault of Congress for not making him do the right thing...(hmmmm like a nanny?)

So if Congress needs a spine, I guess Bush needs a brain...or at least a conscience!