Last night I watched the local news at wzzm 13 news at 11. They interviewed Congressman Pete Hoekstra and Congressman Vernon Ehlers. Both men explain why they voted for this bail out of the Bankers.
Because I live in the second Congressional District, I really wanted to know why Pete Hoekstra changed his NO vote to a YES vote.
Watch the video to hear Pete’s excuse.
Saving Jobs? That’s the excuse Pete Hoekstra gives for changing his vote?
Was Pete Hoekstra concerned about American Jobs when he voted for NAFTA?
Was Pete Hoekstra concerned about American Jobs when he voted for CAFTA?
Perhaps Pete Hoekstra didn’t understand that when you loose your job, you also loose your ability to pay your mortgage.
It was congress who, under a Republican Congress and Democrat Administration that removed the safeguards which allowed Fannie and Freddy to lower the standards of lending practices.
So here we are today, 2008, with Congress telling us that we just don’t understand, even though it’s a BAD bill, they just had to do something!
Well, they sure did something alright. They loaded us with all the Banks bad debt, with the promise of more debt for any bank that the FDIC Insurance ends up covering deposits for now, to the tune of $250,000.00.
Now how many Americans have that much money on deposit in any bank? Of course, Foreign depositors can now deposit in American Banks and when it goes down, we get to cover their deposits. The FDIC does not have enough money in reserve to cover $100,000 on deposit right now let alone 250,000.
Well, the truth is, we do understand. We told Pete Hoekstra, and the rest of congress that we would rather take the short term punishment and let the banks file bankruptcy instead of the long term punishment of extended recession/depression high inflation that we now face.
And just why are we being punished? Oh yes, for all the corruption within both parties, our bought and paid for congress.
I can’t think of a better reason to throw these bums out of office and hire THIRD PARTY CANDIDATES this election.
Scotty Boman for US Senate Interview