S.3507 - Unemployment Compensation Extension Act of 2008

A bill to provide for additional emergency unemployment compensation. view all titles (3)

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  • Official: A bill to provide for additional emergency unemployment compensation. as introduced.
  • Popular: Unemployment Compensation Extension Act of 2008 as introduced.
  • Short: Unemployment Compensation Extension Act of 2008 as introduced.

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Displaying 181-210 of 573 total comments.

  • Anonymous 09/20/2008 10:33am

    http://www.nytimes.com/2008/09/20/business/20politics.html?_r=2&adxnnl=1&oref=slogin&partner=rssnyt&emc=rss&adxnnlx=1221937436-RmY2oUUyayOIWzzuk5q+ZA

  • Anonymous 09/20/2008 10:39am

    By ANDREW TAYLOR, Associated Press Writer
    51 minutes ago

    WASHINGTON – Ben Bernanke didn’t sugarcoat the situation. He couldn’t.

    Financial market conditions had degenerated to a full panic, credit is frozen, money market funds are losing money. Even strong institutions such as Wall Street’s remaining investment banks were under extraordinary pressure, the Federal Reserve chairman told House Republicans in a briefing Friday.

    Leave things unchecked, he said, and face deep and extended recession, according to notes taken by a House GOP aide at the session.

    At one remarkable meeting in the Capitol on Thursday night and in a series of conference calls the next day, Bernanke and Treasury Secretary Henry Paulson laid out nothing less than a nightmare scenario if Congress failed to pass a plan to use breathtaking amounts of taxpayer money to bail out the financial markets.

    Fear is a great motivator — and it helps explain lawmakers’ quick bipartisan embrace of the massive federal intervention in the markets.

    Don’t go along, Paulson said Thursday night at the meeting with leaders in both parties, and Wall Street’s collapse will mean a global economic crisis. Bernanke warned of a profound recession without immediate action. The remarks were characterized by two congressional aides in the room, who required anonymity to discuss the private meeting.

    “The room got very serious, very quickly,” said a House Democratic aide who attended the session.

    “When you listen to them describing this, you gulp,” said Sen. Charles Schumer, D-N.Y. He said he felt the weight of “history hanging over them” in the room.

    House Financial Services Committee Chairman Barney Frank, D-Mass., was at the meetings, too. But just as telling, he said Friday, was a conversation he had with a big lender who warned Frank that he was about to be unable to issue car loans. The panic on Wall Street was infecting Main Street and it was time to act.

    House Speaker Nancy Pelosi, D-Calif., did tell Paulson that lawmakers were being asked to swallow a bitter pill, according to Democratic aides. She said the bailout proposal should include Democratic priorities such as extending unemployment insurance and providing aid to ailing state governments to pay for Medicaid shortfalls.

    With a cost of $700 billion and the intrusion into the free market, the proposal is drawing reservations from Democrats and Republicans. Some feel they are being stampeded.

    But Bernanke and Paulson carry great weight on Capitol Hill.

    “This is the most severe economic situation our nation’s been in since World War II,” Bernanke told Republicans on Friday, according to notes taken by a House GOP aide. “There is no choice” but to pass the plan, Paulson said, adding that failure to do so would be a disaster.

    They also apparently carry great weight with President Bush, who told reporters Saturday the dire picture they painted overcame his initial reluctance to put forward the package:

    “My first instinct was to let the market work until I realized, upon being briefed by the experts, of how significant this problem became.”

  • Anonymous 09/20/2008 12:02pm

    The Fireside Post
    McCain’s Criminal Closed Thinking
    By Ohg Rea Tone | September 20th, 2008 | Category: Government |
    “There is a booklet in the State Prison System which is used in the drug and alcohol treatment programs. The association with drugs and alcohol is faulty – but the idea is this: What types of “Closed Thinking” leads to criminal behavior? In light of the criminal behavior on Wall Street we should ask these questions of the candidate who, by his own admission, has participated for years in removing legal barriers to the criminal activity on Wall Street.

    Apply these thinking patterns to John McCain – and particularly in this election cycle. The McCain campaign represents nothing less than “Criminal Thinking,” if not direct criminal behavior.

    Closed Thinking:

    Secretive to avoid being implicated.
    Self-righteous about self-image.
    Closed to anything which might challenge my reality and my view of the world.
    Finding faults in others, but failing to see my own.
    Telling others only that which will serve my immediate purpose.
    Lying by omission.

    Breaking down each of the following components:
    Disclosure: tell the total truth about myself including my thoughts, urges, intentions, and needs.
    Tell the truth.
    Eliminate omissions, exaggeration, distortions, point-scoring, and agreeing in order to get someone off you back.
    Total sharing of thoughts, fears, and desires.
    Emphasize sharing thoughts more than behaviors by sharing thoughts.
    Receptivity: ask for help, listen to feedback, and do what healthy people suggest.
    Accept learning a new way of thinking by listening to and accepting the views of others.
    Eliminate selective listening like ignoring, challenging, debating, and arguing.
    Expand on ideas discussed.
    Ask questions that start with “How” and “What,” not “Why.”
    Challenge obvious lies and contradictions.
    Self-Criticism: seek to know which thoughts and actions are destructive and do whatever it takes to change them.
    Eliminate power struggles and trying to control others.
    Eliminate “Pride” and a feeling of “Uniqueness” by genuinely examining all that is destructive in life.

    Distrust your own thinking.
    Trust is:

    Reliance on God and others – not on going it alone anymore
    Taking risks with self-disclosure
    Acting on feedback from others
    Telling my part
    Building caring out of unity, growth, and truth
    Commitment to change
    Understanding that I am more like others than I am different.
    Getting close to others–intimacy.
    Something I must earn.
    Shown in my responsible living.
    Returned after I first trust others
    A Choice.

    When we think about John McCain in this context, and think about this person being President of the United States – well – it is just plain scary. McCain plays the classic ‘victim card’ – whining around about how unfair life is."

  • Comm_reply
    Anonymous 09/20/2008 12:16pm
    Link Reply
    + -1

    Did you copy that out of Kim Jong-Il’s hand book. I hope you don’t buy into that that collectivist propaganda.

    McCain sucks

  • Anonymous 09/20/2008 12:11pm
    Link Reply
    + -1

    dude your a waist of space, the republicans don’t like McCain either but they were not given a choice. That post had crap to do with this thread

  • Anonymous 09/20/2008 2:06pm
    Link Reply
    + -1

    waste, too.

  • Anonymous 09/20/2008 2:48pm

    President Bush had big speech about Columbian Trade, I feel like I’m living a re run.

  • stubsnews 09/20/2008 2:57pm

    Bailout plan needs stronger oversight: Pelosi 47 minutes ago

    WASHINGTON (Reuters) – House of Representatives Speaker Nancy Pelosi said on Saturday that Democrats want to deal swiftly with the Bush administration’s $700 billion financial market rescue plan, but also want more oversight, taxpayer protections and regulatory reform.

    “In working with the administration, we will strengthen the proposal by ensuring that the government is accountable to the taxpayers in any future actions under this broad grant of authority, implementing strong oversight mechanisms, and establishing fast-track authority for the Congress to act on responsible regulatory reform,” she said in a statement.

    “We will also seek to protect lower- and middle-income Americans … from the fallout of the ongoing Wall Street crisis, by enacting an economic recovery package that creates jobs and returns growth to our economy,” the California lawmaker added just hours after the rescue proposal was unveiled.

    (Reporting by Kevin Drawbaugh).

  • Anonymous 09/20/2008 3:18pm

    So does that mean she gave up on pushing extended unemployment? Yes, I want a job, too, but what are the chances of getting one within 3 weeks, especially in my field which is in the financial sector? Maybe 6 mos. from now, after the Wall Street layoffs run out of benefits, it will happen. Who knows. All I know is, I’m scared.

  • Anonymous 09/20/2008 4:14pm

    No, I don’t think so. Check this one out.

    Politico.com
    The Crypt
    September 20, 2008

    Categories: Housing crisis
    Reid slams Bush economic policies, promises cooperation on bailout

    Senate Majority Leader Harry Reid (D-Nev.) couldn’t pass up a chance to slam President Bush’s economic policies, but he promised that Senate Democrats would move quickly to take up the $700 billion Treasury bailout plan.

    Reid, though, also wants more political cover from Bush and GOP congressional leaders before Democrats line up by the proposal offered by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.

    “It is now self-evident that the Bush administration’s extreme hands-off policies have been disastrous,” Reid said in a statement released by his office. “The middle class is suffering from rising prices and declining incomes, and now the world financial system is on the brink. The American people have every right to be outraged that we are at this point.”

    Reid added: "At the same time, we cannot allow ourselves to be in denial about the threat now facing the world economy. From all indications, that threat is real, and the consequences of inaction could be catastrophic.

    “Every single American has a stake in preventing a global financial meltdown. Our first priority must be to prevent that from happening. While the Bush proposal raises some serious issues, we need to resolve them quickly. I am confident that, working together, we will. Meanwhile, I call on the president to better explain to the public the severity of the threat all Americans face, and why he believes his approach is needed.

    “I also call on him and congressional Republicans to work with us to address the crisis facing the middle class. Democrats believe we must provide real relief to working families before we adjourn.”

    By John Bresnahan 07:17 PM

  • Comm_reply
    Anonymous 09/20/2008 9:21pm

    If poloci, obama, reid or hillary wanted the unemployment benifit added it would be added already (they are in charge), and it would be front page news, they are talking out sides of there mouths. The democrats do not not want us to get this extension.

    The democrats figure, with the election coming up, that if there is no unemployment extension people will be hurting and the democrats will get more votes. If the democrats were to add unemployment to this bill and it passed the democrats would have nothing to blame on the republicans, its just a game to them and we are the pawns

  • Anonymous 09/20/2008 4:41pm
    Link Reply
    + -3

    OOT is that you? What do you really think about this 2nd stimulous getting anywhere? It sounds like a blast from the past. This being an election year is unusual they aren’t really pushing the rest of the extension.

  • Comm_reply
    Anonymous 09/20/2008 6:17pm
    Link Reply
    + -1

    sewer scum again, be gone

  • Moderated Comment

  • Moderated Comment

  • Comm_reply
    abaratar 09/20/2008 9:04pm

    It is not socialism, if it was socialism the government and people would partake of the profits made by these companies when there irresponsible risks pay off.

    What we are doing is feudalism, We see no part of the profit but are forced to give our labor to the people incharge and when the people in charge mess up and need more labor we are forced against our will to provide that labor at no positive benefits for our selfs.

    Think of money as labor Labor is how the poor and middle class(serfs) acquire money.

    As a serf we are forced to work more and all we get out of the deal is less time with our families and a lower quality of life

  • Moderated Comment

  • Anonymous 09/20/2008 9:52pm

    If poloci, obama, reid or hillary wanted the unemployment benifit added it would be added already (they are in charge), and it would be front page news, they are talking out sides of there mouths. The democrats do not not want us to get this extension.

    The democrats figure, with the election coming up, that if there is no unemployment extension people will be hurting and the democrats will get more votes. If the democrats were to add unemployment to this bill and it passed the democrats would have nothing to blame on the republicans, its just a game to them and we are the pawns

  • Anonymous 09/20/2008 11:38pm

    A Nation of Village Idiots
    by James Moore
    as posted on The Huffington Post
    September 18, 2008

    Don’t let them tell you this economic meltdown is a complicated mess. It’s not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy. But we are now witnessing them on a profound, monumental scale.

    Conservative Republicans always want the government to stay out of business and avoid regulation as long as they are making lots of money. When their greed, however, gets them into a fix, they are the first to cry out for rules and laws and taxpayer money to bail out their businesses. Obviously, Republicans are socialists. The Bush administration has decided to socialize the debt of the big Wall Street Firms. Taxpayers didn’t get to enjoy any of the big money profits on the phony financial instruments like derivatives or bundled sub-prime paper, but we get the privilege of paying for their debt and failures.

    Let’s just consider the money. The public bailout of insurance giant (becoming a dwarf) AIG is estimated at $85 billion. According to one report, that’s more than the Bush administration spent on Aid to Families with Dependent Children during his entire time in office. That amount of money would also pay for health care for every man, woman, and child in America for at least six months.

    How did we get here?

    That’s pretty easy to answer, too. His name is Phil Gramm. A few days after the Supreme Court made George W. Bush president in 2000, Gramm stuck something called the Commodity Futures Modernization Act into the budget bill. Nobody knew that the Texas senator was slipping America a 262 page poison pill. The Gramm Guts America Act was designed to keep regulators from controlling new financial tools described as credit “swaps.” These are instruments like sub-prime mortgages bundled up and sold as securities. Under the Gramm law, neither the SEC nor the Commodities Futures Trading Commission (CFTC) were able to examine financial institutions like hedge funds or investment banks to guarantee they had the assets necessary to cover losses they were guaranteeing.

    This isn’t small beer we are talking about here. The market for these fancy financial instruments they don’t expect us little people to understand is estimated at $60 trillion annually, which amounts to almost four times the entire US stock market.

    And Senator Phil Gramm wanted it completely unregulated. So did Alan Greenspan, who supported the legislation and is now running around to the talk shows jabbering about the horror of it all. Before the highly paid lobbyists were done slinging their gold card guts about the halls of congress, every one from hedge funds to banks were playing with fire for fun and profit.

    Gramm didn’t just make a fairy tale world for Wall Street, though. He included in his bill a provision that prevented the regulation of energy trading markets, which led us to the Enron collapse. There was no collapse of the house of Gramm, however, because his wife Wendy, who once headed up the Commodities Futures Trading Commission, took a job on the Enron board that provided almost $2 million to their household kitty. And why not? Wendy got a CFTC rule passed that kept the federal government from regulating energy futures contracts at Enron.

    If John McCain gets elected and chooses Phil Gramm as his Treasury Secretary, which many politico types see as likely, they will be able to talk about the good old days when Gramm was in congress and McCain was in the senate and they were in the midst of the Savings and Loan crisis.

    The S and L scandal, which may look precious when compared to our present cascade of problems, isn’t hard to understand, either. But it is impossible to take John McCain seriously on our current financial Armageddon since he was dabbling in the historic collapse of 747 S&Ls that occurred during Ronald Reagan’s era. In the early 80s under the Republican president, congress deregulated the savings and loan industry in much the same way that Gramm made sure there were no laws hindering our current financial malefactors on Wall Street. S&Ls simply lobbied until they had less regulation and then began making rampant, unsound investments.

    The guy who was going the wildest with financial freedom was Charles Keating, who headed up Lincoln Savings and Loan of California. Because the S&L industry had managed to get congress to increase FDIC insurance from $40,000 to $100,000 on deposits, the irresponsible investing of people like Keating began to put taxpayer insurance funds at great risk of loss. Keating placed money in junk bonds and questionable real estate projects and because so many other S&Ls started acting the same way the Federal Home Loan Bank Board (FHLBB) began to push for a regulation that limited these dangerous speculative “direct” investments to 10% of an S&L’s assets.

    And Keating didn’t like it; he called on a private economist named Alan Greenspan, who promptly produced a study saying that there was no danger in “direct” investments.
    But that didn’t convince the FHLBB and as further scrutiny showed Lincoln Savings and Loan was making even more historically bad investment decisions, a federal investigation was launched.

    So Keating called his home state senator John McCain.

    McCain and four other US senators (known to history as the Keating Five) met with Edwin Gray, then chairman of the FHLBB. McCain had been hesitant to attend but had reportedly been called a “wimp” behind his back by Keating. The message to the FHLBB and Gray from the Keating Five was to lay off Lincoln and cool the investigation. Gray and the FHLBB did not relent but Lincoln stayed in business until 1989 when it collapsed with the rest of the S&L industry. The life savings of more than 20,000 elderly investors disappeared with the failure of Lincoln. Keating went to prison for five years.

    Charles Keating was John McCain’s pal. They met in 1981 and Keating dumped $112,000 in the McCain campaign bank accounts between ‘82 and ’87. A year before McCain met with the FHLBB regulators, his wife Cindy and her father, according to newspaper reports at the time, invested about $360,000 in one of Keating’s shopping centers. The Arizona Republic reported McCain and his wife and their babysitter took nine trips on Keating’s private jet to the Bahamas to stay at the S&L liar’s decadent Cat Cay resort. The senator didn’t pay Keating back for the plane rides until years later when he was under investigation.

    McCain wasn’t found guilty of anything but bad judgment, which is an historic understatement. Republicans, who led deregulation of the S&L industry, delayed the bailout until after the 1988 election to make sure George H. W. won the White House. The cost to taxpayers for helping these 747 bad actors in the S&L industry was finally estimated at $1.4 trillion. If the bailout had begun in 1986 instead of after the presidential election, the cost would have been contained at $20 billion.

    And now the Republicans who engineered our present crisis and got us into the S&L debacle of the 80s are before us saying the markets need regulation. No, actually, they don’t need regulation. Why don’t you Republican capitalists who believe in the free markets get out of the damned way and let them work and allow these various financial nuthouses be crushed by the weight of their own stupidity? When it is all over, we’ll have sane and sober people create laws to make sure it doesn’t happen again, assuming we survive this chaos.

    Also, while you are handing out our tax money to idiots on Wall Street, save a little of the long green for the unemployed auto and construction workers and all of the other people who have lost their jobs because you were too stupid to notice what Phil Gramm was doing and you were convinced everything was going to be just fine because the markets work.

    These, then, are the people — the Republicans — who want to run our government for four more years. John McCain isn’t just one of them. He rides their jets. He takes their campaign donations. He makes them his campaign advisors. And he tells us to trust him.

    He must think we are a nation of village idiots.

    Hell, maybe we are.

  • Anonymous 09/21/2008 12:09am

    IT IS NOW TIME TO SMACK THE SILVER SPOON RIGHT OUTTA GEORGE BUSHS MOUTH AND ATTACH A 26 WEEK UNEMPLOYMENT EXTENSION W/A 50 DOLLAR A WEEK RAISE (AS TEDDY FIRST PROPOSED) TO THE WALL STREET BAILOUT PLAN OR START TO ORGANIZE A PROTEST AND MARCH TO WASHINGTON

  • Comm_reply
    Anonymous 09/21/2008 12:29am

    we do not have an unemployment extension because the democrats will not add it to the wall street bailout

  • Anonymous 09/21/2008 12:13am

    its about damn time that gready mongrel and his cronnies DO NOT GET THEIR WAY , WE MUST NOT ALLOW THIS TO HAPPEN NO MORE

  • Anonymous 09/21/2008 12:48am

    why wont the democrats add this to the wall street bailout?is it because bush wants it like that too f—king bad smack the silver spoon out of his mouth

  • Anonymous 09/21/2008 1:04am

    if bush does not want anything attached to the bailout bill then pass a 26 week 50 dollar raise unemployment package first

  • Comm_reply
    Anonymous 09/21/2008 7:15am

    Bush doesn’t get a say in what is ant what not attached to this bill this is up to polosi and reid ie the democrats

  • Moderated Comment

  • Anonymous 09/21/2008 6:23am

    The business news this morning do believe there will be a stimulous attached or along side of the trillion dollar bail out bill, good news, and especially this being an election year for alot of the high unemployment states. The public supported Red Cross is asking for money from the gov’t also, it’s bad out there folks, We need help from the ultimate.

  • Anonymous 09/21/2008 6:41am

    Is there any doubt at all , that this assclown will go down as the worst president of all time ?

  • Comm_reply
    Anonymous 09/21/2008 7:17am

    and get this this ass clown has a higher job approval rating then congress

  • Anonymous 09/21/2008 9:49am

    We need to look ahead, I think it will be a draw on who’s the worse president of all time (Jimmie Carter) or (George Bush JR.)


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