With grateful hearts, we share our thoughts on redemption through Jesus Christ and His saving blood and what it looks like in our daily walk.

We gladly welcome your comments and input.
AND since we hold our conservative values dear, we might have a thing or two to say about politics... and we can almost guarantee it won't be politically correct.

Thursday, October 2, 2008

Bailout is Unconstitutional

Senator Tom Coburn (R) Oklahoma a strident opponent of wasteful government spending speaks out about the bailout.

He says we should direct our anger toward Congress. This is a very interesting speech. Listen and let me know what you think.


Nathan Talbot said...


Straight and frank talk about exactly what the problem is. No finger pointing except right back at congress who has lead us down this path and abandoned the Constitution in the process.

I will research him later cause I don't know much about him, but he flat nailed it on that one. Run for president. We need more politicians like him and I hope the American people use this crisis to wake up and start demanding things change. (No Obama not your change, silly Obama change means actually going in a different direction)

pilgrim said...

Isn't this what our gut instinct has told us? that the mess the country is facing financially is not really the fault of the mortgage buyer or the general public (which I repeatedly hear is to blame)? but the real finger pointing should be back at themselves, the members of our Congress, who swore upon oath to represent, protect, and guard our individual rights and constitutional guarantees! what gross ignorance! they don't even have elementary acquaintance with the body of law that should govern their decisions! and poor John Q. Public takes all the hits, and absorbs all the costs! Pooey! it all stinks to high heaven! the only blame to fall on us, the sap citizen, is that we have been ignorant of the facts due to a false trust in our electorate, and a simple-simon neglect of knowing what is and what is not legal in the actions of our government according to our constitutional guidelines. let's wake up and smell the coffee! it is time for some grass-roots reaction and some informed action in replacing or reelecting only those who uphold their sworn duty with integrity!

cj said...

He's right. Congress hasn't been on our side in far too long. We need to get back to what our Founding Fathers envisioned.


Meems said...

NT: If only we could sweep Washington clean and start over with the likes of Coburn. I was heartsick today when the bill passed the House. I was proud of my Representative who voted NO! Must have been that e-mail I sent to him reminding him I'd be watching to see how he voted on this. :-)

pilgrim: yes, it is what our gut feeling told us. The other sad note is that somehow the people we put in office don't represent the people. I keep hearing how "we don't understand the bill or the consequences". They are so out of touch with the Constitution and the peoople of America it is completely out of hand.

Now I do have to say that I am all for personal responsiblity. If folks got into mortgages and credit beyond their means then it is their own fault. Lord knows I've made mistakes along that line myself. But you know what? We did what we had to do to right the problems we made for ourselves. Since when is the government responsible for the mistakes I make? It isn't and it shouldn't be and it needs to stay out of my business! We don't need Washington to think FOR us and we don't need them to regulate everything under the sun... But we do need for them to represent the people!

CJ: He made it so easy to understand. What I don't understand is how he could say what he did and if all those other Senators were listening... why don't they get it? They are too far gone and too self-seeking to care!

mlm said...

All this blaming of Wall Street and Congress is a bit much. It's like getting mad at Hugh Heffner and blaming him for all of Playboy's porn. Sorry to break it to you, but if people weren't buying the magazines by the millions, dear old Heff would have been out of business a long time ago. Greed seeks greed.

Sure, there is greed and corruption on Wall Street. There's also some of both on Main Street.

After all, it's not just the banks that sold $300,000 homes to people who could only afford $100,000 homes. Those homebuyers WANTED the $300,000 home when they could only afford the $100,000 home. As Midas always says, "You can pay me NOW, or you can pay me LATER." Later has arrived.

I remember when Hubby & I were buying our first home in 2004. Our mortgage broker tried to talk us into getting an ARM loan. He did everything he could (repeated phone calls, insistent conversations, even nearly demanding it of us) to convince us to get this loan rather than a 30-year fix. He told us of the homes we could get by going the sub-prime route. Forget the small, starter house. Get into a 3000 sq. foot home now and pay only a few hundred dollars each month!!! We asked, what happens in 5 years, when the interest rates revert? "Oh, they will be higher than prime right now, but by then, your house will be worth double and you can sell it and make $250,000 and buy another house at prime!!!"

Look, he was greedy, no doubt. But he was trying to appeal to and feed off our own greed---our own desire to live beyond our means. We chose to delay gratification, and pay the higher mortgage payment that came with the 30-year fixed. But our interest rate remains locked. And when the housing market collapsed and the ARMs skyrocketed, we didn't lose our home.

Why should Congress now bail out the people who never should have had those bad loans to begin with. It is NOT the natural right of every person to own a home, nor is the responsibility of the government to see to it that they get one. Yet here we are again...bailouts for people who have bad loans, while people like me who are still impacted by the economy and gas prices must make good on our mortgage. And top executives with Fannie and Freddie made 90 million in 6 years.

In times like these, I'm reminded of the wisdom given to King David...to envy not the wicked or the men who grow rich by evil means. For their wealth will be lost and the righteous will be rewarded. I've never seen the righteous forsaken or their seed begging bread. Better to live in peace with little than to celebrate with ill-gotten gain.