O.C. Reps. split on bailout vote
By James B. Gerber, PolitickerCA.com ReporterThe five U.S. representatives who hail from Orange County were divided on the Monday vote for the emergency rescue package.
Reps. John Campbell (R-Irvine) and Ken Calvert (R-Corona) voted ford the bill, which would invest up to $700 billion in troubled financial companies. In a speech delivered from the house floor, Campbell urged his colleagues to support the legislation.
“I desperately hope and pray that we as a body, Democrats and Republicans alike, have the courage to pass this bill,” Campbell said, according to the Orange County Register.
His pleas, however, did not work on his fellow O.C. congress members. Reps. Dana Rohrabacher (R-Huntington Beach), Loretta Sanchez (D-Anaheim), and Ed Royce (R-Fullerton) voted against the legislation, joining 21 other California representatives.
In a statement explaining her opposition, Sanchez cited concerns that "this package does not do enough to help the average American keep their home, and to ensure that the Wall Street executives that got us in to this mess don't walk away with millions of dollars."
Rohrabacher called the legislation an example of "hysteria-based policy making," according to the O.C. Register.
"Emergency measures without policy reform to correct what brought you to the emergency in the first place makes no sense," Rohrabacher added.
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What this bailout Will Do
This $700 Billion bailout will create another disaster the same exact way as the current housing crisis.
This housing financial crisis was caused by the idea of forcing banks to provide loans to those who cannot afford to pay back. In other words, this basically means giving “false credits” to those who do not have enough credits to buy homes.
This $700 Billion bailout to build “confidence”, again, will do the same thing all over again by giving “false credits” to people so they can buy things (cars, large LCD TV, etc…)
Therefore, first it was about people with false credit to buy homes. Now, it is about taxpayers bailing out those unpaid homes, and at the same time giving false credits to people to buy things.
We are moving closer to Socialism than we know.
Get Rid of Ken Calvert
After being shocked that Calvert supported the Wall St. $700 billion bailout plan, I did some research on him. Did you know he is listed as one of the top 20 most corrupt members of Congress! I didn't. This inglorious distinction stems from a long stream of shady land dealings that directly and personally benefited him as a direct result of earmarks he supported in Congress.
Its time for a non-partisan, thrown the lying, thieving scoundrels out of office election --- Republican or Democrat. Let's start with throwing out Ken Calvert. Enough already. Anyone but Calvert! Anyone but Calvert!
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