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By Alan Blank and Brianna Bailey | October 14, 2008
It was so quiet on the House floor “you could hear a pin drop” when it became clear a $700 billion package to bail out the U.S. financial system had not garnered enough votes to pass Monday, said Rep. John Campbell. “There was a hush of stunned silence,” said Campbell, who voted along with about a third of House Republicans in favor of the plan. “Most people thought it was going to pass.” The proposal to bail out distressed lenders that failed in the House on Monday has transcended party lines among area congressmen and congressional challengers.
NEWS
By Michael Alexander | December 11, 2008
As the debate over a $14-billion auto industry bailout moved from the House of Representatives to the Senate, where the bill died Thursday night, local members of Congress had to watch the vote from the sidelines. But that doesn’t mean they lack opinions on the subject. Neither Reps. Dana Rohrabacher nor John Campbell voted on the bill, each for different reasons. Campbell said he had abstained from voting on the package because of his 25 years in the auto industry and because the tenant on property Campbell owns is a subsidiary of GM, and he would not directly comment on the bill.
NEWS
By Michael Alexander | October 3, 2008
Local politicians remain split on the merits, in ways that appear to cross party lines, of the $700-billion bailout package that was signed into law Friday. U.S. Rep. John Campbell, who has consistently supported the $700-billion rescue package, said its passage wasn’t something to celebrate, but that it was necessary. “I wouldn’t say that I or anyone else who voted for it is happy, but we are relieved,” he said. “I think that this will go a long way toward stabilizing our markets, so that they begin to operate or function rationally again.
NEWS
July 23, 2008
Capitol Hill conservatives are debating President George W. Bush’s proposal to shore up struggling mortgage giants Fannie Mae and Freddie Mac with some Republicans saying a bailout amounts to too much government. Others are saying emergency funding is necessary to restore confidence in the government-chartered but privately owned lenders because if they fail it would lead to an economic disaster. Where do you stand in this debate?   The current housing bailout bill as amended by the Senate adds massive amounts of new spending, in addition to huge new risks.
FEATURES
By JIM RIGHEIMER | December 19, 2008
Ultimate investor Warren Buffet once said, “Only when the tide goes out do you discover who’s been swimming naked.” As the economic tide goes out, we are seeing a lot of organizations that were swimming naked. It is not unusual for an organization to get fat and lazy during good economic times. Spending all that you bring in is human nature, and when revenues increase, many organizations just spend it. To say the tide has gone out for the Big Three automakers — General Motors, Ford and Chrysler — would be an understatement.
LOCAL
By Steve Smith | March 9, 2009
In 2009, the average American will have a harder time qualifying for a $300,000 mortgage than General Motors had qualifying for $13.4 billion in bailout money the company is getting from taxpayers. But even harder than qualifying for that bailout dough or that mortgage is the job our local children will have trying to raise money for their athletic and academic organizations. Throughout the year, kids are selling cookie dough, candy, restaurant discounts, fireworks and Christmas trees, as well as hosting car washes and manning the snack bars for their events.
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NEWS
By Chriss Street | July 4, 2011
I believe that due to American exceptionalism, the United States is on the verge of another dramatic period of economic growth. Our nation is far from perfect, but we learn from our mistakes, change dramatically and move on. After three years of failed socialist efforts by governments around the world to deficit spend their way out of economic recession, America is reembracing its exceptional belief that sovereignty belongs to the individual and...
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LOCAL
By Steve Smith | March 9, 2009
In 2009, the average American will have a harder time qualifying for a $300,000 mortgage than General Motors had qualifying for $13.4 billion in bailout money the company is getting from taxpayers. But even harder than qualifying for that bailout dough or that mortgage is the job our local children will have trying to raise money for their athletic and academic organizations. Throughout the year, kids are selling cookie dough, candy, restaurant discounts, fireworks and Christmas trees, as well as hosting car washes and manning the snack bars for their events.
FEATURES
By JIM RIGHEIMER | January 2, 2009
Mark my words, 2009 in will go down as the year of the bailouts and no matter what anyone says or does there will be no way to stop the flood of handouts that are about to happen. If President Bush could bail out Wall Street and Detroit with 700 billion taxpayer dollars, there is no way to argue against the $1 trillion President-elect Barack Obama wants to bail out homeowners with “toxic loans,” states that agreed to cover pensions they could not afford and any failing business that can say with a straight face, “It is not my fault.
NEWS
December 17, 2008
Now that the Senate has rejected a bridge loan to the U.S. auto industry, President Bush has said he will reconsider his opposition to using some of the money in the $700-billion Troubled Assets Recovery Program to prop up the imploding car makers. Do you think that would be the wisest thing to do now? If not, what do you think should be done to salvage the Big Three in the short-term and long-term?   I’m disappointed, but not shocked, that the same Washington insiders who created this fiscal crisis and have rung up more than $1 trillion in debt in a few months have the temerity to think they can run the auto industry better than they have run our government.
NEWS
By Michael Alexander | December 11, 2008
As the debate over a $14-billion auto industry bailout moved from the House of Representatives to the Senate, where the bill died Thursday night, local members of Congress had to watch the vote from the sidelines. But that doesn’t mean they lack opinions on the subject. Neither Reps. Dana Rohrabacher nor John Campbell voted on the bill, each for different reasons. Campbell said he had abstained from voting on the package because of his 25 years in the auto industry and because the tenant on property Campbell owns is a subsidiary of GM, and he would not directly comment on the bill.
NEWS
By Alan Blank and Brianna Bailey | October 14, 2008
It was so quiet on the House floor “you could hear a pin drop” when it became clear a $700 billion package to bail out the U.S. financial system had not garnered enough votes to pass Monday, said Rep. John Campbell. “There was a hush of stunned silence,” said Campbell, who voted along with about a third of House Republicans in favor of the plan. “Most people thought it was going to pass.” The proposal to bail out distressed lenders that failed in the House on Monday has transcended party lines among area congressmen and congressional challengers.
NEWS
By Michael Alexander | October 3, 2008
Local politicians remain split on the merits, in ways that appear to cross party lines, of the $700-billion bailout package that was signed into law Friday. U.S. Rep. John Campbell, who has consistently supported the $700-billion rescue package, said its passage wasn’t something to celebrate, but that it was necessary. “I wouldn’t say that I or anyone else who voted for it is happy, but we are relieved,” he said. “I think that this will go a long way toward stabilizing our markets, so that they begin to operate or function rationally again.
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