president #42 is to blame

[CSMJ]

It was repealed in 1999. So now 9 years later it is still his fault ? That sounds like spin if i ever heard it .

If it was so bad to have repealed it why wasnt it re-enacted ?

If it was never repealed the banks could not have invested in faulty loans so yes it goes back to bill.

Just like when Nasser put ford products on the back burner in favor of jag and LR and volvo it didn't hurt until 4 yrs after he left ford but it was his actions that are hurting us today.

[CSMJ]

matt millen for president!

all our problems will go away...

I hope ford doesn't start running the company the way they run the Lions

Go draft another WR.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

then they will be dwarfed by much larger problems!

[Fatso]

All those Billions of taxpayer dollars on top of all the billions of dollars these financial institution lost.The board of Directors for these companies live like royalty while the average taxpayer gets a gun put to his/her head.Lets play a game.Guess what number I am thinking between one and ten.WRONG.Let`s play again.I cannot be the only one who sees the bull$hit.This country is heading for tyranny.The powerful will declare the U.S. currency worthless,good only for use as a food/fuel stamp while they hoard all the precious metals and minerals.Meantime Americans all hate each other so there is no unified organized resistance."Its the UAW`s fault,,,,"

Edited September 18, 2008 by Fatso

[fmccap]

THAT IS WHAT I AM TRYING TO TELL EVERYBODY.DEMOCRATS AND REPUBLICANS ARE BOTH CORRUPT.THEY ALL BRIBE.THEY ALL TAKE BRIBES.THEY ARE STEALING FROM THE TAXPAYERS AND IT IS ALL DEFECIT SPENDING.WHAT CAN WE DO?WE HAVE TO PAY OUR TAXES OUR WE WILL GET PUT IN PRISON.THAT IS WHY I VOTED TO RECALL ANDY DILLON.AT SOME POINT WE HAVE TO DO MORE THAN JUST TALK AND BLOG.THE PRESIDENT,CONGRESS AND SENATE ARE NOTHING MORE THAN A WHOREHOUSE.LETS HATE EACH OTHER LIKE THET WANT.LOOK A FAT PERSON!LOOK A BLACK PERSON!LOOK A WHITE PERSON.LOOK A TRAITOR WHO IS AGAINST THE WAR IN IRAQ.LOOK AN HISPANIC!LOOK SOMEONE WHO IS IN A UNION.I DOUBT IF THE GOLD RESERVES ARE STILL IN FORT KNOX.

 

Here is a good documentary.

 

Mr. Schneider Goes to Washington

In a recent CNN poll 67% of Americans said they believe the American government is corrupt. Even more alarming, it seems 99.9% of the population does nothing to change it.

 

Frustrated by Washington and his apathy towards it, I was finally shaken off my comfortable couch and compelled to storm to the capital of the worlds only superpower to find out what is going on with his government.

 

Quickly, I discovered that things in Washington are even worse than I imagined. Because of their dependence on big business and special interests to finance their political futures, almost every decision the President, Vice-President and Members of Congress make is corrupted. After all, there is no bigger issue facing our political leaders than getting re-elected.

Edited September 18, 2008 by fmccap

[ellu369]

WRONG AGAIN!!!!!!!!!!!! YOU ASS-CLOWN

 

 

Years before Phil Gramm was a McCain campaign adviser and a lobbyist for a Swiss bank at the center of the housing credit crisis, he pulled a sly maneuver in the Senate that helped create today's subprime meltdown.

 

Who's to blame for the biggest financial catastrophe of our time? There are plenty of culprits, but one candidate for lead perp is former Sen. Phil Gramm. Eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multibillion-dollar subprime meltdown. Yet has Gramm been banished from the corridors of power? Reviled as the villain who bankrupted Middle America? Hardly. Now a well-paid executive at a Swiss bank, Gramm cochairs Sen. John McCain's presidential campaign and advises the Republican candidate on economic matters. He's been mentioned as a possible Treasury secretary should McCain win. That's right: A guy who helped screw up the global financial system could end up in charge of US economic policy. Talk about a market failure.

 

Gramm's long been a handmaiden to Big Finance. In the 1990s, as chairman of the Senate banking committee, he routinely turned down Securities and Exchange Commission chairman Arthur Levitt's requests for more money to police Wall Street; during this period, the sec's workload shot up 80 percent, but its staff grew only 20 percent. Gramm also opposed an sec rule that would have prohibited accounting firms from getting too close to the companies they audited - at one point, according to Levitt's memoir, he warned the sec chairman that if the commission adopted the rule, its funding would be cut. And in 1999, Gramm pushed through a historic banking deregulation bill that decimated Depression-era firewalls between commercial banks, investment banks, insurance companies, and securities firms - setting off a wave of merger mania.

 

But Gramm's most cunning coup on behalf of his friends in the financial services industry - friends who gave him millions over his 24-year congressional career - came on December 15, 2000. It was an especially tense time in Washington. Only two days earlier, the Supreme Court had issued its decision on Bush v. Gore. President Bill Clinton and the Republican-controlled Congress were locked in a budget showdown. It was the perfect moment for a wily senator to game the system. As Congress and the White House were hurriedly hammering out a $384-billion omnibus spending bill, Gramm slipped in a 262-page measure called the Commodity Futures Modernization Act. Written with the help of financial industry lobbyists and cosponsored by Senator Richard Lugar (R-Ind.), the chairman of the agriculture committee, the measure had been considered dead - even by Gramm. Few lawmakers had either the opportunity or inclination to read the version of the bill Gramm inserted. "Nobody in either chamber had any knowledge of what was going on or what was in it," says a congressional aide familiar with the bill's history.

 

It's not exactly like Gramm hid his handiwork - far from it. The balding and bespectacled Texan strode onto the Senate floor to hail the act's inclusion into the must-pass budget package. But only an expert, or a lobbyist, could have followed what Gramm was saying. The act, he declared, would ensure that neither the sec nor the Commodity Futures Trading Commission (cftc) got into the business of regulating newfangled financial products called swaps - and would thus "protect financial institutions from overregulation" and "position our financial services industries to be world leaders into the new century."

 

It didn't quite work out that way. For starters, the legislation contained a provision - lobbied for by Enron, a generous contributor to Gramm - that exempted energy trading from regulatory oversight, allowing Enron to run rampant, wreck the California electricity market, and cost consumers billions before it collapsed. (For Gramm, Enron was a family affair. Eight years earlier, his wife, Wendy Gramm, as cftc chairwoman, had pushed through a rule excluding Enron's energy futures contracts from government oversight. Wendy later joined the Houston-based company's board, and in the following years her Enron salary and stock income brought between $915,000 and $1.8 million into the Gramm household.)

 

But the Enron loophole was small potatoes compared to the devastation that unregulated swaps would unleash. Credit default swaps are essentially insurance policies covering the losses on securities in the event of a default. Financial institutions buy them to protect themselves if an investment they hold goes south. It's like bookies trading bets, with banks and hedge funds gambling on whether an investment (say, a pile of subprime mortgages bundled into a security) will succeed or fail. Because of the swap-related provisions of Gramm's bill - which were supported by Fed chairman Alan Greenspan and Treasury secretary Larry Summers - a $62 trillion market (nearly four times the size of the entire US stock market) remained utterly unregulated, meaning no one made sure the banks and hedge funds had the assets to cover the losses they guaranteed.

 

In essence, Wall Street's biggest players (which, thanks to Gramm's earlier banking deregulation efforts, now incorporated everything from your checking account to your pension fund) ran a secret casino. "Tens of trillions of dollars of transactions were done in the dark," says University of San Diego law professor Frank Partnoy, an expert on financial markets and derivatives. "No one had a picture of where the risks were flowing." Betting on the risk of any given transaction became more important - and more lucrative - than the transactions themselves, Partnoy notes: "So there was more betting on the riskiest subprime mortgages than there were actual mortgages." Banks and hedge funds, notes Michael Greenberger, who directed the cftc's division of trading and markets in the late 1990s, "were betting the subprimes would pay off and they would not need the capital to support their bets."

 

These unregulated swaps have been at "the heart of the subprime meltdown," says Greenberger. "I happen to think Gramm did not know what he was doing. I don't think a member in Congress had read the 262-page bill or had thought of the cataclysm it would cause." In 1998, Greenberger's division at the cftc proposed applying regulations to the burgeoning derivatives market. But, he says, "all hell broke loose. The lobbyists for major commercial banks and investment banks and hedge funds went wild. They all wanted to be trading without the government looking over their shoulder."

 

Now, belatedly, the feds are swooping in - but not to regulate the industry, only to bail it out, as they did in engineering the March takeover of investment banking giant Bear Stearns by JPMorgan Chase, fearing the firm's collapse could trigger a dominoes-like crash of the entire credit derivatives market.

 

No one in Washington apologizes for anything, so it's no surprise that Gramm has failed to issue any mea culpa. Post-Enron, says Greenberger, the senator even called him to say, "You're going around saying this was my fault - and it's not my fault. I didn't intend this."

 

Whether or not Gramm had bothered to ponder the potential downsides of his commodities legislation, having helped set off an industry free-for-all, he reaped the rewards. In 2003, he left the Senate to take a highly lucrative job at ubs, Switzerland's largest bank, which had been able to acquire investment house PaineWebber due to his banking deregulation bill. He would soon be lobbying Congress, the Fed, and the Treasury Department for ubs on banking and mortgage matters. There was a moment of poetic justice when ubs became one of the subprime crisis' top losers, writing down $37 billion as of this spring - an amount equal to its previous four years of profits combined. In a report explaining how it had managed to mess up so grandly, ubs noted that two-thirds of its losses were the fault of collateralized debt obligations - securities backed largely by subprime instruments - and that credit default swaps had been "key to the growth" of its out-of-control cdo business. (Gramm declined to comment for this article.)

 

Gramm's record as a reckless deregulator has not affected his rating as a Republican economic expert. Sen. John McCain has relied on him for policy advice, especially, according to the campaign, on housing matters. The two have been buddies ever since they served together in the House in the 1980s; in 1996, McCain chaired Gramm's flop of a presidential campaign. (Gramm spent $21 million and earned only 10 delegates during the gop primaries.) In 2005, McCain told a Wall Street Journal columnist that Gramm was his economic guru. Two years later, Gramm wrote a piece for the Journal extolling McCain as a modern-day Abraham Lincoln, and he's hailed McCain's love of tax cuts and free trade. Media accounts have identified Gramm as a contender for the top slot at the Treasury Department if McCain reaches the White House. "If McCain gets in," frets Lynn Turner, a former chief sec accountant, "we'll have more of the same deregulatory mess. I like John McCain, but given what I know about Phil Gramm, I wouldn't vote for McCain."

 

As a thriving bank exec and presidential adviser, Gramm has defied a prime economic principle: Bad products are driven out of the market. In John McCain, he has gained an important customer, so his stock has gone up in value. And there's no telling when the Gramm bubble will burst.

 

 

 

 

 

 

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Thanks Sott By Deej

this stuff you serve up is much better than watching the history channel (as if you could get much truth served up watching it)

 

 

 

Added: Wed, 11 Jun 2008 01:08 EDT

 

 

 

 

 

 

 

 

 

 

 

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THANK YOU! I logged on here tonight to tell this same story, but I could not have done it as thoroughly or eloquently as you have. Thanks again.

[lovelincolns]

There are problems with NAFTA...you, I, Barack and every other american who has lost or knows someone who has lost their jobs to another country... get it, but McLAIM does not get it. There needs to be changes to the document that allows FAIR TRADE...NOT FREE TRADE TO SCREW THE AMERICANS!! I don't know if everyone realizes that if McLaim is voted into office, he plans to give the wealthiest companies in America Tax breaks for moving businesses out of the US and to recoupe the money he is going to tax our Health Care.....by...by...VEBA!!! People better open their eyes. Retirees for sure should open their eyes....they are on a fixed income.....this money will come out of your pocket....so if you or your wife has to have major surgery...guess what...all the money you saved, your house and anything else you own, you will have to sell in order to pay for your health care. You will all realize it after 4 yrs......probably not....you haven't realized it yet with the compete idiot we have in office right now!!

Even if this was true, and it is not, we would still be better off than with Obama.

[CSMJ]

THANK YOU! I logged on here tonight to tell this same story, but I could not have done it as thoroughly or eloquently as you have. Thanks again.

spin all u want FACT is FACT CLINTON repealed it!! Thats where it all started!!

Clinton signed NAFTA not BUSH Clinton signed WTO for China not bush

Clinton got all of our $$$ and promised NOT to sign NAFTA yet the 1st thing he did was SIGN NAFTA and a DEMOCRAT CONGRESS and DEMO CONTROLLED SENATE passed it!!! FACTS

FACTS FACTS FACTS

If he did not sign it then Im a liar but he did I went to the clinton library, the 1st thing u see when u walk in is what?? Its the pen he used to sign NAFTA that was his GREATEST MOMENT he says

[fmccap]

spin all u want FACT is FACT CLINTON repealed it!! Thats where it all started!!

Clinton signed NAFTA not BUSH Clinton signed WTO for China not bush

Clinton got all of our $$$ and promised NOT to sign NAFTA yet the 1st thing he did was SIGN NAFTA and a DEMOCRAT CONGRESS and DEMO CONTROLLED SENATE passed it!!! FACTS

FACTS FACTS FACTS

If he did not sign it then Im a liar but he did I went to the clinton library, the 1st thing u see when u walk in is what?? Its the pen he used to sign NAFTA that was his GREATEST MOMENT he says

FACT is FACT so tell me where it really started??? Clinton did sign it but where did it come(start) from???????????

[99ktpbirdman]

Obama was wrong about the troop surge in Irac. Obama said he would not take military action off the table in dealing with Iran. Obama said the islamic republic is a major threat and it would be unacceptable for the rogue nation to develop a nuclear weapon. HOLY SHITBALLS BATMAN HERE WE GO AGAIN!!!!

[FANTASTICFORD]

FACT is FACT so tell me where it really started??? Clinton did sign it but where did it come(start) from???????????

 

The old McCain on free trade http://www.ontheissues.org/2008/John_McCain_Free_Trade.htm

 

Obama on free trade http://www.ontheissues.org/2008/Barack_Obama_Free_Trade.htm

 

It started with Regan. This is news to me, I didn't know it began with him...I thought it started with daddy Bush.

http://useconomy.about.com/od/tradepolicy/...FTA_History.htm

Edited September 20, 2008 by FANTASTICFORD

[FANTASTICFORD]

The old McCain on free trade http://www.ontheissues.org/2008/John_McCain_Free_Trade.htm

 

Obama on free trade http://www.ontheissues.org/2008/Barack_Obama_Free_Trade.htm

 

It started with Regan. This is news to me, I didn't know it began with him...I thought it started with daddy Bush.

http://useconomy.about.com/od/tradepolicy/...FTA_History.htm

Edited September 20, 2008 by FANTASTICFORD

[99ktpbirdman]

Obama appears to be backing off somewhat from his rhetoric from the primary campaign. He suggested in an interview with Fortune this week that he doesn't want to unilaterlly renegotiate NAFTA adding that sometimes during campaigns the rhetoric gets overheated and amplified.

[zoomerjrt]

The fallout of Lehman brothers and Bear Stearns and all of the mortgage crisis goes back to clinton's repeal of the Glass Speagle Act of 1933. This lbasicly let banks merge with risky unsecured brokers and buy "junk" bonds. This helped the economy in the short run but like ALL LIBERAL policies hurts it in the long run!! He repealed it in 1999 nov 12th or 13th I believe.

Even Clinton's former Treasure Sec Robert Reich said this last night on msnbc. after he left the position he said Clinton signed this repeal at the request of lobbiest!!

Just like when Clinton signed NAFTA and he put a provision in it that the Mexican truck drivers cannot cross the border until 2001. When he was to leave office, YES Clinton was and is the slickest politician we will ever see in our lifetime I'll give him credit for that.

And he had on his desk for 8 count em 8 yrs the Carpal Tunnel bill and he signed it 1 day before he left office because he knew bush would veto it and then the Libs could cry that bush doesnt want this bill when in fact clinton did not either or he would of signed it 8 yrs earlier.

Keep believing the Left Wing Media if you want!!

 

Best part of people still wanting to toss Clinton under the bus, ask yourself what as Bush done to right all this you claim, during his 8yrs in office? If these policies are so wrong and this is what lead us here Bush should have stood up and told the American people what he wanted to do and fixed it, but guess what he was playing war with our taxes and taking the most vactions of any president. How many hours where you working during Clintons run?

[CSMJ]

Best part of people still wanting to toss Clinton under the bus, ask yourself what as Bush done to right all this you claim, during his 8yrs in office? If these policies are so wrong and this is what lead us here Bush should have stood up and told the American people what he wanted to do and fixed it, but guess what he was playing war with our taxes and taking the most vactions of any president. How many hours where you working during Clintons run?

I worked alot from 2001-2007

and alot under clinton BUT if CLINTON had not SIGNED NAFTA and FREE TRADE FOR CHINA which led to all of these foreign cars coming in we would ALL be working 10 hours a day and alot of saturday's.

And Ford would not have had to get rid of 90K workers and counting since 1993 either. Like I said what you sign or do today may not come back to bite you until years later as NAFTA has done!!!!!!

Lets call a duck a duck if the man said Im for labor and I am NOT gonna sign NAFTA and he did then he's a anti union anti labor anti middle class president just like Bush.

that's all im saying.

I'll vote for Ron Paul or Ron Barr!!

[Racin' Rick]

All those Billions of taxpayer dollars on top of all the billions of dollars these financial institution lost.The board of Directors for these companies live like royalty while the average taxpayer gets a gun put to his/her head.Lets play a game.Guess what number I am thinking between one and ten.WRONG.Let`s play again.I cannot be the only one who sees the bull$hit.This country is heading for tyranny.The powerful will declare the U.S. currency worthless,good only for use as a food/fuel stamp while they hoard all the precious metals and minerals.Meantime Americans all hate each other so there is no unified organized resistance."Its the UAW`s fault,,,,"

Great post, Fatso. There is a lot of truth to what you wrote...take heed folks...prepare accordingly

[local400future]

I worked alot from 2001-2007

and alot under clinton BUT if CLINTON had not SIGNED NAFTA and FREE TRADE FOR CHINA which led to all of these foreign cars coming in we would ALL be working 10 hours a day and alot of saturday's.

And Ford would not have had to get rid of 90K workers and counting since 1993 either. Like I said what you sign or do today may not come back to bite you until years later as NAFTA has done!!!!!!

Lets call a duck a duck if the man said Im for labor and I am NOT gonna sign NAFTA and he did then he's a anti union anti labor anti middle class president just like Bush.

that's all im saying.

I'll vote for Ron Paul or Ron Barr!!

 

So you're OK with Bush, along with McCain's approval, selling our ports to a contractor out of Dubai? How about awarding a defense contract to build planes to Airbus, a French compay? So while NAFTA has bled jobs, the republicans want to sell the security of our nation, and you're OK with that?

[CSMJ]

So you're OK with Bush, along with McCain's approval, selling our ports to a contractor out of Dubai? How about awarding a defense contract to build planes to Airbus, a French compay? So while NAFTA has bled jobs, the republicans want to sell the security of our nation, and you're OK with that?

Who was it that gave our satellite tech. to china?? Funny how in 1992 they had 0 satellites and 8 yrs later they were testing missiles!!

No NAFTA would mean NO outsource of any defense helicopter contract but since its law they can do it!!

Say what u want NAFTA started it all!!!!!Go back to the root cause, NAFTA!!

And what about the 25K jobs Mississippi and Alabama was to get for that airbus contract?? those jobs dont count???? And the port deal got struck down!!

go check did biden vote for NAFTA?? He voted for the WAR I know that!!

Edited September 20, 2008 by CSMJ

[CSMJ]

Who was it that gave our satellite tech. to china?? Funny how in 1992 they had 0 satellites and 8 yrs later they were testing missiles!!

No NAFTA would mean NO outsource of any defense helicopter contract but since its law they can do it!!

Say what u want NAFTA started it all!!!!!Go back to the root cause, NAFTA!!

And what about the 25K jobs Mississippi and Alabama was to get for that airbus contract?? those jobs dont count???? And the port deal got struck down!!

go check did biden vote for NAFTA?? He voted for the WAR I know that!!

NAFTA Vote Nov 20,1993 7:28 pm roll call vote

Biden Yea which means yes as in yes Im OK with outsourcing American Union jobs to cheap labor countries!!

27 democrat ( union taking contributions money) voted YEA

John Kerry voted YEA

Ted Kennedy YEA

Im sick and tired of the Democrat Party taking our money and then voting against us!!

Im sick and tired of them saying the GOP is responsible for outsourcing jobs when the Democratic party voted and signed NAFTA the only issue the Democratic party strongly supports is Abortion.........

All unions should put there $$ into a 3rd party (labor party) and stop worring about social issues like abortion and gay rights and start worring about ISSUES that Matter, like JOBS!!!!!!!!!!!!

[local400future]

Who was it that gave our satellite tech. to china?? Funny how in 1992 they had 0 satellites and 8 yrs later they were testing missiles!!

No NAFTA would mean NO outsource of any defense helicopter contract but since its law they can do it!!

Say what u want NAFTA started it all!!!!!Go back to the root cause, NAFTA!!

And what about the 25K jobs Mississippi and Alabama was to get for that airbus contract?? those jobs dont count???? And the port deal got struck down!!

go check did biden vote for NAFTA?? He voted for the WAR I know that!!

 

Airbus is a foriegn company regardless of where the planes are built. American defense contracts should always go to American companies. I don't care how many people they imploy, this is about national security. The same national security that the Republicans say they are better suited to handle, go figure?

 

The port deal was shot down no thanks to Bush and McCain. And I hate to tell you this, China had missles before 1992. You should really check your facts.

[zoomerjrt]

Who was it that gave our satellite tech. to china?? Funny how in 1992 they had 0 satellites and 8 yrs later they were testing missiles!!

No NAFTA would mean NO outsource of any defense helicopter contract but since its law they can do it!!

Say what u want NAFTA started it all!!!!!Go back to the root cause, NAFTA!!

And what about the 25K jobs Mississippi and Alabama was to get for that airbus contract?? those jobs dont count???? And the port deal got struck down!!

go check did biden vote for NAFTA?? He voted for the WAR I know that!!

CSMJ but answer the question, why didn't Bush change what your complaining about, he had 8yrs to do so, and why didn't Bush stop all his buddys running to forgein lands to avoid taxes?

[99ktpbirdman]

NAFTA Vote Nov 20,1993 7:28 pm roll call vote

Biden Yea which means yes as in yes Im OK with outsourcing American Union jobs to cheap labor countries!!

27 democrat ( union taking contributions money) voted YEA

John Kerry voted YEA

Ted Kennedy YEA

Im sick and tired of the Democrat Party taking our money and then voting against us!!

Im sick and tired of them saying the GOP is responsible for outsourcing jobs when the Democratic party voted and signed NAFTA the only issue the Democratic party strongly supports is Abortion.........

All unions should put there $$ into a 3rd party (labor party) and stop worring about social issues like abortion and gay rights and start worring about ISSUES that Matter, like JOBS!!!!!!!!!!!!

Look man the Democrats own NAFTA and they love Abortion oh please give us gay rights. That is the side that they are on.

[fmccap]

Look man the Democrats own NAFTA and they love Abortion oh please give us gay rights. That is the side that they are on.

U.S. Senate Roll Call Votes 103rd Congress - 1st Session

McCain (R-AZ), Yea

 

FINAL VOTE RESULTS FOR ROLL CALL 575

Ayes Noes

Democratic 102 156

Republican 132 43

Independent 1

TOTALS 234 200

[CSMJ]

CSMJ but answer the question, why didn't Bush change what your complaining about, he had 8yrs to do so, and why didn't Bush stop all his buddys running to forgein lands to avoid taxes?

There is something called Congress!! Congress and the Senate have oversight and Democrats are in charge!!!! And as for taxes charlie Rangel the lead democrat on the tax committee has been avoiding paying taxes on his off shore vac. rental property for years now so he is doing what u claim only Bush's friends do! Oh now he is sorry ya right sorry he got caught!

[CSMJ]

Airbus is a foriegn company regardless of where the planes are built. American defense contracts should always go to American companies. I don't care how many people they imploy, this is about national security. The same national security that the Republicans say they are better suited to handle, go figure?

 

The port deal was shot down no thanks to Bush and McCain. And I hate to tell you this, China had missles before 1992. You should really check your facts.

China could not and had NO satelite's in space. they could not get a warhead up in space remember seeing all those explosions on TV where they failed!!!

there is a BIG difference between missiles and space missiles like ICBM's.

[zoomerjrt]

There is something called Congress!! Congress and the Senate have oversight and Democrats are in charge!!!! And as for taxes charlie Rangel the lead democrat on the tax committee has been avoiding paying taxes on his off shore vac. rental property for years now so he is doing what u claim only Bush's friends do! Oh now he is sorry ya right sorry he got caught!

You still didn't answer the question, what did Bush do to stop this? Congress doesn't have the power yet. They still don't have the votes to override a Bush veto, so they can pass till there blue in the face and you and I both know Bush will veto it and the dems don't have enough votes to override his veto.