Financial rescue vote a tough one, Calvert says
September 28th, 2008, 4:27 pm · 7 Comments · posted by Dena Bunis, Washington Bureau Chief
Rep. Ken Calvert
Rep. Ken Calvert just told me the vote he’ll make tomorrow on this financial rescue plan is one of the toughest he’s had to cast since he’s been in Congress.
Right now he’s inclined to vote yes but said he needs to read all 110 pages of the bill that members just got today.
“Nobody wants to do this,’’ Calvert, R-Corona, said. “The markets drove the timing of this.” But, he added, “This crisis is real. I don’t think it’s imaginary. If something isn’t done it’s going to affect everyone – not just Wall Street but Main Street. I’m not interested in giving a handout to Wall Street. I’m concerned about the taxpayers and the consequences of doing nothing are considerable.’’
Calvert just came from the GOP caucus where he said the mood was respectful; that members asked lots of questions. He said it won’t be clear until tomorrow morning whether there are enough votes to pass this. The Republican members have been meeting for two hours and the session is still going.
Calvert said the proposal has gotten much better than when the bargaining over the details started.
“There’s some taxpayer protection in this bill,’’ he said. That includes such things as a requirement that if the money is not paid back to taxpayers within five years the president must send Congress legislation that would require Wall Street to cover any losses.
“One thing we want to make sure that people understand is that this money that’s being used to buy these assets are going to be paid back to the taxpayers,’’ Calvert said.
September 28th, 2008 at 6:46 pm
SLOW DOWN!! WE
This thing won’t trickle down to the average taxpayer/citizen the way it is.
September 28th, 2008 at 6:53 pm
SLOW DOWN!! WE ARE BEING FOOLED AGAIN!
This thing won’t trickle down to help the average taxpayer/citizen the way it is. Work thru the Holiday if this is such a National Crisis. The Congess is willing to make a deal with the Devil just to get a vacation on time? Listen to Congressman Rohrbacher, he is thinking properly.
September 29th, 2008 at 11:22 am
Dena, I don’t understand why you’re giving Calvert so much ink. The guy is crooked, he’s up for re-election, and you’ve never (to my knowledge) even mentioned his opponent’s name.
The challenger is Bill Hedrick. He’s a local elected official in Riverside County. He’s honest, credible, and wants to represent the taxpayers of my Congressional District in Washington.
Why not tell your readers something about him instead of pandering to Calvert all the time?
September 29th, 2008 at 11:32 am
Dena, you have now posted your third “article” within a week where you simply quote messages received from Mr. Calvert.
There is never an actual article - just quotes from him. It appears you’re simply acting as his personal press secretary and the OC Register is now Mr. Calvert’s personal newspaper where he enjoys free campaign advertising.
Since you’re quoting him discussing the bailout plan (twice this week), how about following his quotes up with some facts? For example, how about mentioning that Mr. Calvert voted for the Gramm-Leach-Bliley Act in 1999, which is credited with opening the flood gates of deregulation that has led to the current financial melt down? Or mentioning that he authored the “Access to Affordable Mortgages Act (HR 1443) in 2003, where he said, “In order to promote home ownership we need to give lenders and consumers incentive to enter into mortgage agreements by giving both parties the flexibility to do so.” Calvert’s own website still touts deregulation as a good thing.
When I read the OC Register, I assume the person listed as the reporter has done some sort of investigative work and will be offering actual facts and both sides to an issue - not simply passing on quotes or emails they’ve received from an elected official.
September 29th, 2008 at 3:33 pm
SLOOOOOOW DOWN
This is another bill rushed with FEAR tactics. (war, patriot act…)
I read all 110 pages, and this bill is NOT acceptable,
It will not help the economy, or dollar plunge
It will weaken the $ even further since our deficit will go up even more.
Solution:
STOP the war, stop exporting jobs, INVEST in OUR ECONOMY and not in those banks who gambled and lost.
If you vote yes, and you are up for re-election , I hope you lose, and this is for every congress man/woman as well as senate.
For once, work for the people who VOTED you into office instead of those who loobied (payed) for it.
September 30th, 2008 at 11:22 am
It seems to me that the vast majority of Americans do not want a bailout. These are normal average everyday hardworking people who do not have vast amounts of money in stock markets if any at all. They did not max out on their home equity line of credit or default on their mortgages. They are also not in the market to borrow money for a new car or any other major purchase. So who is this bailout for?
September 30th, 2008 at 10:31 pm
Vote NO on any form of bailout! Our economy needs LESS government and LESS taxes! Isn’t that what the “R” next to your name means?