As we write this, news is breaking that House and Senate Democrats have agreed on a bailout proposal. House Minority Leader John Boehner is, at the moment, disagreeing that a deal has been worked out and, as we know, the devil is in the details. We will try, to the best of our ability, to keep you informed.
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But, we thought it might be useful to look at some quotes from the people who brought you the war in Iraq, Homeland Security and the USA Patriot Act:
"Today the world is also uniting to answer the unique and urgent threat posed by Iraq."
-- President George W. Bush, November 20, 2002
"We found the weapons of mass destruction. We found biological laboratories. You remember when Colin Powell stood up in front of the world, and he said, Iraq has got laboratories, mobile labs to build biological weapons. They're illegal. They're against the United Nations resolutions, and we've so far discovered two. And we'll find more weapons as time goes on. But for those who say we haven't found the banned manufacturing devices of banned weapons, they're wrong, we found them."
-- President George W. Bush, May 29, 2003
"And the reason we had to do Iraq, if you hark back and think about that link between terrorists and weapons of mass destruction, Iraq was the place where we were most fearful that that was most likely to occur, because in Iraq we've had a government - not only was it one of the worst dictatorships in modern times, but had oftentimes hosted terrorists in the past .. but also an established relationship with the al Qaeda organization."
-- President Dick Cheney, October 3, 2003
"I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible."
-- Treasury Secretary Henry Paulson, March 16, 2008
"Maybe 100 years … it's fine with me and I hope it would be fine with you if we maintain a presence in a very volatile part of the world where al Qaeda is training, recruiting, equipping and motivating people every single day."
-- Republican presidential nominee John McCain, January 2008, in response to a question about how long the United States should remain in Iraq
"Our policy in this administration - laws shouldn't bail out lenders, laws shouldn't help speculators."
-- President George W. Bush, May 19, 2008
"Our economy has continued growing consumers are spending, business [sic] are investing, exports continue increasing and American productivity remains strong. We can have confidence in the long-term foundation of our economy … I think the system basically is sound. I truly do."
-- President George W. Bush, July 15, 2008
And, yet this group of people -- despite their astonishingly poor judgment in the not-so-distant past - wants the Congress and the American people to follow them blindly into yet another national crisis that seems to have caught them all by surprise.
As the old saying goes, "Fool me once, shame on you. Fool me twice, shame on me."
Congress is absolutely right to refuse to be blackmailed, yet again, by the Bush Administration and their Wall Street cronies. And, we're delighted that you and the rest of the American public have demanded that our elected officials seem to understand that the public is truly outraged by the audacity of these people. Congress gets it and the Administration seems to be hearing at least a part of the outcry. On Tuesday, they caved in on the need for oversight and accountability and by last night, even the President and Secretary Paulson understood that Platinum Parachutes and outrageous salary and compensation packages were off the table. That's real progress but we cannot relax. There's too much at stake.
Until, we know the details of the final package, we must keep on the pressure to ensure that the principles we outlined earlier in the week are met. Former ADA President Barney Frank, chair of the House Financial Services Committee, has said, "We've made a lot of progress. I think the House and Senate Democrats have come to an agreement. Now, we're going to talk to the Republicans." He went on to say, Americans should "legitimately feel better about the overall approach." To us that means there is real hope.
It also means that we need to continue to remind Members of Congress that we are watching, supporting their efforts when we can and telling them a resounding "NO" when we must.
IMMEDIATE ADACTION: Your efforts are making a difference but we need you to Contact your Senators and Representative, remind them that you are closely watching what they are doing in the next few, critical hours and that you will either support them or hold them accountable based upon who they put first - hard working Americans or the Wall Street titans who have brought us to the brink of disaster.
The Real McCain
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