Breaking:Burris certified by Senate…will be seated…Lonesome Loser Reid strikes out again….

Yes, Harry Reid has once again, folded like a cheap suit.

Lonesome Loser LRB courtesy of  kirknjoni

Update: Official walkback statement now out via ACE HQ and ChicagoTribune/WGN:

“Barring objections from Senate Republicans, we expect Senator-designee Burris to be sworn in and formally seated later this week,” said a joint statement from Senate Majority Leader Harry Reid and Assistant Majority Leader Dick Durbin.

The Senate Democratic Leaders had told Burris last week that he needed to testify before the Illinois House impeachment committee about his relationship with Gov. Rod Blagojevich and submit a signature from Illinois Secretary of State Jesse White certifying his appointment by Blagojevich.

“We have spoken to Mr. Burris to let him know that he is now the Senator-designate from Illinois and as such, will be accorded all the rights and privileges of a Senator-elect,” said the joint statement.

Breaking now on FOX, (confirmed by Carl Cameron says Cavuto FWIW…)

“Burris certified by U.S. Senate Officials to Fill Vacant Seat…”

You know what we would say back in Brooklyn don’t you? That was mighty white of them…

Sorry but hell it was a witch hunt by the end and Reid had NO BUSINESS pulling this parliamentary CRXP, when

a. The US Senate, despite what some may suppose, does NOT have the right to question the appointment/election of a Senator that has been certified by the state under the requirements of the state’s constitution, beyond the general eligibility requirements

b. Frakin Harry better git his axx to work on Nevada’s foreclosure crisis or maybe go sit in the frakin meetings with Summers and Geithner and see WTH is going on and write a plan, you know show some LEADERSHIP on the real issues..

but where did wrong way reid lead us?? Bravely off into a FRAKIN DEAD END YET AGAIN..

And congratulations to Senator Burris who should have been seated two weeks ago and at the latest Friday after IL SC confirmed the SoS has ALREADY certified Burris via the entry into the state records…

Our previous posts are numerous, please use our search function

The Junior Senator of Illinois, Mr. Roland Burris

The Junior Senator of Illinois, Mr. Roland Burris

January 12, 2009. Tags: , , , , , , . Finance, Foreclosures, Housing, Obama Administration, Politics. 1 comment.

Go Back Jack, Do it Again…Another 350B…PEBO asks for TARP Tranche Two

(courtesy of Melegorm)

Finally the frakin letter itself!

To be ABSOLUTELY CLEAR HERE, LOL, this is Team PEBO, which is largely comprised of UofC (Fuhrman, Goolsbee both in the meeting with DEM Senate leadership yesterday-the bill in question is coming from the House) and moderate Capitalists (Summers et al) , certainly not economic lefties, snark..

anywho, this is an attempt to head off the legislation Barney Frank has a hearing scheduled on tomorrow. The LETTER is a loose framework of nice words and means nada, I hope Barney passes this legislation before he hands over ANOTHER 350B of the taxpayer dollars with nary a string and a handshake and a letter. He should have learned from the first tranche.

Different players, same story. They are not really that different are they? It is Geithner incoming Treasury Secretary who ran the AIG and CITI bailouts after all….

PASS THAT LEGISLATION BARNEY! Don’t give them the dough without protecting taxpayers this time!!

Update 5: The letter via WGNtv :

President-elect Barack Obama’s top economic adviser tells Congress that the need for the remaining $350 billion of the financial bailout package is “imminent and urgent.”

Larry Summers has written a letter to the bipartisan leadership of the House of Representatives and the Senate to assure lawmakers that the money will be used to help community banks, small businesses, consumers and homeowners as well as large financial institutions.

And more interesting background from KTTC Rochester (via Politico):

Emerging from a two-hour meeting in the Capitol with Obama advisers Lawrence Summers and Jason Furman, Senate Democrats praised the President-elect’s team for agreeing to make changes to its stimulus proposal based off of concerns senators raised last week at a meeting with the president-elect’s senior aides.

The Obama team told about 35 Senate Democrats gathered at Sunday’s meeting that it would grow the size of an energy-tax incentive package and modify proposed tax credits for individuals and for businesses that hire new employees, according to meeting attendees. Also, with lawmakers raising concerns that the first half of the $700 billion of the financial rescue law was badly mismanaged, Obama’s team signaled it would lay out precisely how it would spend the second half of that package, which Congress is expected to consider as soon as this week.

“It’s very clear they’ve listened, they’ve heard and that they’re moving to respond,” said Sen. Kent Conrad, chairman of the Budget Committee, who questioned previously whether the tax credits in the stimulus package were enough to encourage new jobs. “It was very, very healthy. They’re not defensive, not arguing back, they’re listening, they’re attempting to hear and they’re responding.”

Update 4: 12:48pm EST: Update on the ‘letter of understanding’ via FoxBusiness:

The letter includes provisions that would loosely commit the Obama administration to use TARP funds to help troubled homeowners avoid foreclosure; to adopt tougher executive compensation limits and corporate governance standards for firms that participate in TARP, and increase reporting, oversight and disclosure requirements in the program.

The letter would allow the president-elect and Congressional Democrats to avoid a potentially embarrassing veto fight in Mr. Obama’s first weeks in office. The Treasury has spent or committed all of the $350 billion funding in the first half of the $700 billion TARP. To get authorization for the last $350 billion, the president — Bush now, or Obama after he takes office — must submit a report to Congress outlining how the Treasury would spend the money. The funding will be authorized automatically unless Congress votes to approve a “resolution of disapproval” within 15 days of receiving the report.

But the president could veto the resolution. Then to stop the funding, Congress — controlled by the president-elect’s own party — would have to override the veto with a two-thirds vote in the House and Senate.

While sources believe the next $350 billion will come regardless of how the process unfolds, a veto and effort to override it “would set up quite a mess the first weeks in office” for Mr. Obama, a financial industry source said. “That would be a disaster politically.”

Update 3: Larry Summers sending a ‘letter’ FOX reporting -vaguely – that letter indicates they (PEBO Team?) want to get more funds to Main St…

For a GREAT piece on how liberals are viewing the recent PEBO Team activity, read Jimmy Pethokoukis’ column here:

…But it’s Obama’s $800 billion American Recovery and Reinvestment Plan that will be ground zero in this coming liberal internecine battle. “Way too much Reagan, not nearly enough FDR,” griped some key liberals about a plan that would, in addition to the tax cuts, still provide a whopping half-trillion dollars over two years in government spending for infrastructure, healthcare, education, clean energy, grants to states, and aid to lower-income and unemployed folks.

Some of their greatest hysterical hits: 1) “The economic plan he’s offering isn’t as strong as his language about the economic threat,” wrote NY Times columnist Paul Krugman. “In fact, it falls well short of what’s needed”; 2) the Center for American Progress, a liberal think tank founded by Obama transition co-chair John Podesta, said the Obama plan was chock-full of “special interest favorites” and “long-discredited conservative proposals”; 3) Sen. Tom Harkin said Obamanomics “still looks a little more to me like trickle-down,” invoking a Reagan-era economic invective that liberals love to hurl; and 4) Nancy Pelosi, who seems to actually believe the Obama campaign spin that the Bush tax cuts somehow caused the recession, blurted out this gem: “Put me down as clearly as you possibly can as one who wants to have those tax cuts for the wealthiest in America repealed.” Duly noted, Madam Speaker.

(more…)

January 11, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Wall St. 1 comment.

Jesse White saves Reid’s bacon…gives Harry yet another way out…

The IL SoS has gone ahead and signed ‘a certification’ . Not ‘the cert’, the one Blago signed that Harry has been whining about,  but ‘a’  certification that he, AG Madigan and the IL SC said did not need to be signed.

It has been sent to Reid, who is claiming the Senate legal experts are reviewing it…

(This is L’amours in Brooklyn, one of MiM’s old stomping grounds, ahhh those were the days, lol…courtesy of MaxBonesBlack)

From Politico:

“The Senate Parliamentarian, the Secretary of the Senate and Senate Legal Counsel are advising Senate Leadership as we consider a way forward,” said Jim Manley, Reid’s spokesman, on Friday evening.

This latest development gives Democrats a way out of a sticky situation. The Illinois Supreme Court said White does not need to sign the appointment papers even though the Senate requires him to get White’s signature before he can assume office. White has refused to sign the document, but signed the Jan. 9 certificate and plans to send it to the Senate along with Burris’ appointment papers.

Immediately after the court ruling, Burris declared victory and said it would lead to his appointment to the Senate.

“I am very happy that the Supreme Court ruled supporting our argument that everything surrounding this appointment was legal and complete,” Burris said in a statement. “This appointment meets the qualifications required by the U.S. Senate of all gubernatorial appointees to fill vacated seats.”

0105dvs_pol_burris_senate
White responded by declaring that he was not going to sign anything and claimed vindicated that the Illinois Supreme Court doesn’t think he has to do so.

-snip-

Yet White later decided to sign a separate declaration affirming Burris’ appointment. (MiM here, think he got a ‘call’ from Senate ? uhm yeah )

Word to Harry, take this last best chance at saving face and get over yourself already…

Irrespective of whether it is signed, MiM and many legal opinionators of note theorize that SCOTUS would easily knock down Reid’s paltry claims of tradition and their ROOL. As IL SC noted in their ruling yesterday, the Senate ROOL II says nada about a signature and even if it did, the Senate has ZERO power to enforce arbitrary roolz on the states which have the protection of the Constitution on appointing/electing their representatives to the Congress..

And no, appoint/elect makes no difference….if we weren’t in such trying times I would LURB for Reid to stick his neck out just a wee a bit farther and give us the smack-down from SCOTUS that would end this BS once and for all so they NEVER EVER try to exceed their authority this way again..but alas times are exceedingly tough and as MiM has said from the get-go the people of Illinois DESERVE FULL REPRESENTATION….

Suck it up and walk it off Harry, you have bungled once again, and White has given you ANOTHER out, take it.

One more time, Harry Reid cannot fight his way out of a wet paper bag. We need a new leader, preferably one with cojones, I would suggest Hillary as I have in the past, but she has other work to do…

January 10, 2009. Tags: , , , , , , , , , , , , , . Economy, Hillary Clinton, Politics, TARP. 4 comments.

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