The Next Step

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In the Senate debates this afternoon, a California senator provided statistical information stating that her office had received some 90,000+ phone calls and emails regarding the new bailout plans. She stated that 80,000+ of those were against the plan. Then she added that despite the fact that a clear majority of her constituents were opposed to the plan, she knows better than her constituents what is better for them, than they do. This is representative of the outrageous, audacity that this congress has, who admittedly, is responsible for this mess to begin with do to a lack of oversight, has put forth to the American public. Congress, How dare you claim that you know better than the American people what is good for us. How dare you stand in the chamber of our forefathers and conduct yourselves as GOD of the very people who ask you to act on your behalf and then dictate against their clear wishes and desires. You are a disgrace to your office and this country and our forefathers are turning over in their graves.

Well, I would say that it's about time our leaders "woke up". Looks like their citizens have too. Home prices will find their own bottom, with or without this bailout plan. I don't believe this plan can stop that from happening. Anyone who watched how fast and furious real estate prices rose (I live in FL), knows how far they have to fall to get back to normal. Our town had a shortage of teachers and policemen because they couldn't afford to live here. I remember whole subdivisions going up overnight, and thinking to myself, who is going to buy all of these homes? I guess the developers are getting the answer to that question right now! We all want a solution to this problem, though deep down I have a sinking feeling that the economy will run the course of it's correction with or without any intervention. The forces behind this downturn are so strong, I wonder if we will just be throwing 700 billion dollars to the wind? Along with risking our free market system and possibly damaging our credit standing in the world by adding this huge debt to our deficit and to our children. It's incredibly difficult to trust our money to a government that got us in this mess in the first place. And no one that I have talked to wants to see those at fault rewarded for their behavior, it will just give us more years of the same. In order for us to heal and move on we need to purge the system of the greed and corruption that got us here, not prop it up and let it continue business as usual. I'm hearing alot of people crying because they aren't able to get easy credit anymore, the banks are requiring more documentation and more money down. But if you still have good credit, you have no problems getting a loan. Forgive me for being so unsympathetic, but twenty years ago, this was the norm! Our first home loan was at 14% fixed interest. I suppose we would see outright temper tantrums if folks had to pay that now! I believe we are only in the first few innings of this ball game... attitudes will have to change. Does anyone even know the difference between what they want and need anymore? The line has been blurred for years, but it is quickly going to become crystal clear. What we need most from our leaders is a gaurantee that this bailout will work, and no one can give that to us. Until that happens, most Americans will be reluctant to part with their hard earned money, especially if they think they need to be putting it back for harder times that are coming.

The USA is a DEBT (not cash) based economy. The debts at all levels, Federal, State, City, Corp, Personal are all so HIGH that they can NEVER BE REPAID! The Government CAN quickly lower some debt levels, and prime the banks with cash. This INFLATES into DEFLATION (the Sweden model) OR The banking system and the economy will just collapse if it is crushed under the weight of the debt defaults over a protracted time...... (the Japan model) It's YOUR CHOICE..........

If the American public is naive enough to believe tha DOJ Sec.Paulson , Federal Reserve Chairman Bernake , JP Morgan Chase , Goldman Sachs , Warren Buffet (shall I go on ? ) and other investment firms and their friends aren't licking their chops like hungry wolves anticipating a taxpayer bailout ; well then, God help US all !!! These ultra-rich have had it their way for too long ! They continue to keep grabbing more power to determine their own fate daily, and congress is only too obliging. Corruption is rampant and it is now the norm not the exception !!! People, bend over and grab your ankles, because here it comes again !!!

9/30/08 Dear Mr. President Dear Mr. Congressman Dear Mr. Senator Problem. The sub- prim loan mess was created by the mortgage industry. They convinced the government to remove the assummability clause in FHA and VA mtg. so that they could make commission on new loans each time the property was sold. Then several years ago they convinced the regulators to let them make loans to people who did not have any down payment. Therefore nothing to loose if they did not make the payments. If some one does not have the grit to save for a down payment then they should not own a house, and will not make the mtg. payments.. It took me 8 years to save up for my first down payment. Solution Any exiting loan that is owned by Freddie Mac or Fanny may, or insured or guaranteed by the fed government should be modified now to allow the mortgage to be assumed without qualifying. This would allow seller to sell their homes to buyers that may have had bad credit in the past, but are in a position now to make payments on a loan that they could assume. These buyers can not get a new loan because of past credit problems. About70% of potential buyers is in this position. The above action would greatly reduce the foreclosure rate. It would also turn non-performing loans into performing loans and correct the balance sheets of the holder of these loans. To bail out companies that made bad decisions with money that I have to pay in the form of taxes is total wrong. If I make a bad decision no one bails me out. I have lost money in the market. Please send me a refund. I have lost money on bad mortgage no one bailed me out I just lost. Solution to credit markets If you want to infuse more funds into the credit market. Stop lowering the interest rates. If a person has $100,000.00 in banks in the form of savings, money markets, c.d.'s etc. and is only receiving 3 % interest on that deposit he/she only has $3000.00 to put back into the economy. If he was being paid 8% on his/ her deposit then $8000.00 would be put back into the economy. Now if you take all these deposit in all the banks, Money markets etc. at the higher interest rate just imagine how much more money would be available in the credit market. And by the way how much foreign money would be invested in our markets. This economy would sore. Sincerely Horace H. Skinner 407-222-1025

The cram down continues

I understand the impact of not passing the economic package(see not bailout). I am a 67 year old college professor who is certainly looking foward to retirement one day. I too, have been hurt in the market downturn. Unfortunately, giving our taxpayer money to "hungry businesses and brokers" only allows them to ask for more. Itis time for individuals, businesses, and Wall Street brokers to get their houses in order. The culture of debt and entitlement has allowed this crisis to develop. it's time to get back to financial stability. Save for rainy days, save for expansion, save to make payroll, only invest what you can afford to lose. Let us show the world that America is great because we manage our resourses!

The next steps: 1. Stop the gloom and doom, yesterday's 777pts. drop made great press but the percentage down wasn't gloom and doom. 2. At this writing the market is up well over 300pts. The market can be a roller coaster ride, today its a great ride. 3. The reason, means, and ends of this bail out bill was not clearly explained to the American people, the government tried to ram this bill down the throats of the American people, and naturally the people through it back up. 4. Realize this has been a politically driven situation. 5. Wall Street should not have appeared to have their hats in hand crying for a government bail out, that just solidified the American peoples' dislike for "fat cats". Educated people need to remember, Americans are not stupid...

1. If home prices keep dropping it will be more affordable to more Americans. How did home prices raise so rapidly? Newton's Law says what goes up must come down. 2. What is wrong with loaning company's money as opposed to buying their bad dept? This worked with Lee and Chrysler a number of years back. Oh yea, he took a $1 a year salary to bail out his company not a 17 million dollar golden parachute. 3. The markets did not crash after the first warning things must be done by Monday, two Mondays ago. 4. Why do we have failed mortgages/. Are P.M.I.'s not required for high end loans? I thought you were a little to hysterical on O'Reilly last night.

What is the difference between George Bush and Hugo Chavez? A little less every day that goes by!

With the mass exodus of Banking companies headquartered in NYC how will this affect the NY municipal bond market. Will NY be able to meet its obligations when these come due in the near future? Is there a chance of default? Is there any insurance to protect the bondholders? I have not heard a word yet on these tax free muni's.

The first bailout vote was not a truly bipartisan effort. Witness the many Democratic "leaders" who voted "No." These Democratic leaders may live in volatile districts, need the plausible denial that they were innocent of the bailout's vast expenses, or truly disagreed with it. Witness the Speaker's (Pelosi) highly partisan blaming of the Republican Administration and President, at a time when everyone admitted that the entire Congress needed to "come together" in a deal. Was she just begging the House Republicans to vote "No?" If so, she did a good job, first of alienating them and keeping their concerns buried in the initial days of bailout discussions, only to reluctantly allow them a seat at the table, to be smeared as the vote was being taken. This is leadership from the Speaker? Many of the House Republicans represent districts in which constituents still revere Ronald Reagan as the greatest Republican president of all times. How can they go home in 30+ days and face voters having just voted for a $700 billion plan that was not sold to the public as having much chance of success? When Main Street sees Wall Street's pain truly filter down, then maybe it will support a "fix." In the meantime, expect more cheers from Main Street as Wall Street "pays for its sins" of excess. We can only hope that pain will not last too long after reality sets in. What does any of this tell us about the two main presidential candidates? Is the verdict still out? Who looked more presidential during the crisis? Who looked like a leader? Can a judgment be made yet? Obama tried to ride the high road, clamor for change, but not leave his fingerprints on a solution. McCain gambled that he would look like a leader, returned to Washington, got the left out Republicans their seat at the table, only to have them vote the plan down. How will the pundits spin this? We clearly need to slow down the "easy money" in the system. Credit has become too easy and lending institutions accept too much risk at times. In recent years, predatory lenders victimized many people– these people should get some help, some relief. Other people victimized themselves by trying to be greedy, buying, flipping, and buying again without regard for common sense. Those guilty of self-inflicted wounds should suffer the losses. Institutions that bundled risky loans into securities that could not be risk assessed should suffer – it was a stupid, greedy, gimmick. Insurance companies that insured such securities without being able to assess the underlying risks, should suffer – calculating the odds of the Titanic sinking would be easier than assessing the risks to those bundled securities. The average Joe Sixpack has no sympathy for the millionaire CEO who loses a job and walks away with millions as a reward. It does not compute. The reward was not earned. No one should profit from suffering. And, Joe does not focus on the hundreds, if not thousands, of minion workers who suffer now as a result of the millionaire CEO's poor decisions, poor leadership, and excesses. Those people are like you and me, but until corporate salaries and bonuses, and perks are brought into the realm of common decency, Joe Sixpack will be unable to see the damage being done to the little guy stuck in middle management, etc.

It is amazing that everyone in the Beltway and on Wall Street think the only reason those of us in the real world are either ignorant or stupid because we don't agree with them on the "recovery", "assett seizure" or whatever they want to call it now. And that includes all the reporters who are just extensions of Beltway and Wall Street. Believe me, we clearly understand and still don't support it. This is just more pigs feeding at the trough. Let the pirhana feed on each other and leave us out of it. Yes, it will be painful. We are willing to accept that. Surprise - the markets don't always move up.

TexRose, I couldn't have said it better myself. This whole "bailout" centers around freeing up credit. Hasn't it occured to anyone we should backoff the credit!

We do need to have some kind of governemnt intervention, just not this intervention. What this shows is that CEOS are little dictators. 1. Christopher Cox needs to be fired immediately as SEC Chairman and bring in someone who will immediately repeal the mark to market rule. This will immediately and directly target the bank liquidity problem and create some time for Congress to get this important piece of legislation right. 2. Since President Bush will only sign a bill that Pauson approves and Paulson is only open to his own plan, he needs to be fired and replaced with Deputy Secretary of the Treasury Robert Kimmet so we can have an objective Treasury negotiator in the talks and get more free market solutions debated and given proper consideration. Together these steps JUST might get an alternative solution that has an American look and feel to it. THERE ARE IMPORTANT PRINCIPLES INVOLVED HERE and it can't be argued that Socialism works better than free market approaches. We do not need to sell out our Constitutional values because Paulson has put the IMMEDIATE fear of God into everyone for NO good reason.

Nothing will be worth what we want it to be worth until there is no more debt - personal and governmental. Until then, value is perceived - not real - and there will be further fluctuations in stock prices, home values, and employment rates. By the way, if your employer needs to borrow money to make payroll, you may want to look for a new job. Just because they do it doesn't mean it is a good business practice.

I have heard that several economists and big business folks believe that suspending the mark to market rule would help some and that could be done without getting Congress involved. Why hasn't that been done? Although Fox news is broadcasting the 2004 Frannie and Freddie story showing several Democrats in Congress saying that these institutions had no problems and stopping the legislation or oversight being proposed, the network stations are not showing much of the story and that is where a large portion of the population get their news. Unless these people seek out unbiased news, they never get any and believe what the biased left-wing liberal news media keeps telling them or keeps from telling them. Speaker Pelosi was a disgrace and is continuing her lowest approval rating than any previous speaker and will most likely have a lower approval rating than President Bush. The Speaker should be showing an unbiased position (what she promised in 2006) and uniting the party to get legislation passed. Over 40% of her Democrats voted against it -- to include high level committee members. Shame on her! Can we hope that her constituents will finally wake up and vote her out?!!

It is simple really, the government should stay out of the free market! I've heard it many times over the past day or two from some of the biggest names in business that it is time for a cleansing. I say, let the ones who started this mess and propagated this mess fail. It is time for our government to stop "bailing out" all the big guys. Do you think they would for one minute even consider "bailing out" all the thousands of small businesses that go under each year? No way would they do that. That would be interfering with the free market. Well, what do you think you are doing now? So, Congress, GO HOME! And, I agree with TexRose. The Dems better not raise too much of a stink about all of this because there are a lot of money trails which lead directly to your door steps (see Fannie and Freddie)! So, go ahead and start throwing those rocks from those glass houses. That will be fun to watch.

Where was the warning from all of you, "so called experts" while this "accident" - as it is now being refered to - was developing. I suspect that you, and the Wall Street types were hanging while this freight train was running amuck hoping to get off before the "crash". As it turns out the individuals on Wall Street are still individuals on Main Street; yet most of you were either enjoying the ride or fearful for your positions on the Street and / or in your companies. Now the very top positions walk away, "down but not out" while they and the main culprits in this, CONGRESS, now pay "lip" service (with or without lipstick) to what they "knew and when they knew it", leaving us - you and I - "the tax payer" having to take some position to try and save ourselves, and by doing so will save them too.

Please have someone tell the American people about the “pork” in the bailout. How many congressmen and senators know about Barnie Frank’s “Acorn” to recieve 20% of profits IF the bailout makes money? Tell them it was Frank that required the FHA to give bad loans with 0% down. Also tell them over a year about McCain trying to pass a bill to stop the run-away economy …it got no where! Who has really read this 100 page document? My guess is most won’t waste the time! It’s bad for America, as the treasury can handle each bank, company on an as need basis. It worked with WAMU and Wachavio. Enough! trust the government to make a bad situation worse.

I suggest the government to consider other alternative plans.

Three things in the short term: 1. Suspend mark to market for 5 years...doesn't cost us a penny, and will help out a lot 2. Raise the FDIC limits, just to give folks a little more comfort 3. Treat any government money handed out to these companies EXACTLY THE SAME as Buffett's $5 billion: preferred stock that pays dividends, plus stock warrants. If it's good enough for the Oracle of Omaha, isn't it good enough for the American people? Work all the other garbage out later.

The people have spoken. I do understand the connection between Wall Street and Main Street. However, I for one, am really tired of fixing other's problems. Do the bill right and make certain it has adequate oversight, addresses the mortgage situation, and learn you have to pay the bills sometime. Again,this is what happens when Americans, government and regulators are not paying attention, or are absorbed in political gains. I have yet to see solutions for America. Put some moms who have to make a budget, some small business owners who daily make their business grow and survive, or some community bankers on the oversight committee. They'll get it right.

So the solution put forth by Congressman Barney "Fannie Mae/Freddie Mac are fine" Frank and Secretary "Goldman/Sachs" Paulson is for the U.S taxpayers to borrow $700 billion from foreign sources and buy investments that no one else on the planet will touch. It may work. It may not. Either way we are on the hook for $700 billion. Forgive me but I'd rather trust the free markets. It may be painful. It may not. At least I know it will work in the most efficient way possible if the government will get out of the way.

Cheryl, I am Mr. Middle America. My wife and I have a $90,000 household income, two kids in high school, a dog, and a house that we all just barely fit in. Like most of my friends and neighbors, I have credit card debt, auto loans, mortgage payments, and a home equity line. I've always been a conservative guy when it comes to finances, but over the last 10 years, I got drunk on the "easy money, enjoy life now, pay for it latter" lifestyle that is heaped upon us through every media outlet you wish to point a finger at. A while back, I came to my senses and saw that, if I continued down that path, I would have nothing to look forward to in life except working like a dog to pay the minimum payments on my debts and hoping that Wal-Mart is still around so that I can work as greeter in my old age. I would never be able to provide for my kids college, pay for a memorable wedding for my daughter, or enjoy the golden years with my better half. I will always be a slave to my debts. We have adjusted our lifestyle to keep that from happening. My point in all this is that we Americans understand that our country is in dire financial condition. I am in dire financial condition! But we are suffering because of the choices we have made both individually and as a country through the people we have elected to represent us. What you are witnessing in this ground swell of opposition to the proposed bail-out is a realization that the standard of living that we have all enjoyed for the last couple of decades has been based on a lie. That lie being that the value of assets always goes up and you should leverage those assets to live above what you could otherwise afford. That, coupled with the inherent unfairness of burdening taxpayers with more debt to “buy” investments of dubious value from corrupt financial institutions just to keep the system from collapsing, is why there is no support for this plan. We understand that there will be pain. We are Americans, we’ll survive. Our elected officials must yield to the will of the people. Our government needs to “adjust its lifestyle” and not make its people slaves to foreign nations by continually borrowing from abroad. Protecting the right to “Life, Liberty, and the Pursuit of Happiness” is where government should invest itself. For a long time now, it has been doing the exact opposite.

Aside from a bad hair-do, Pelosi has failed to recognize that America has spoken. They're not stupid, stubborn, or ill-informed....they're just disgusted with the Dems protecting Paulson and his band of storm troopers who've had the audacity to pretend they can "fix" the problem they created. Get rid of the mark to market accounting game, and you'll see how this simple change will drive the economy upward. Paulson should be relieved of his duties. We don't need a fox guarding the chicken house. We need a reformer who'll put American's interests first, and end this horrific financial nightmare perpetrated on the good people of this country.

Sorry, but it looks like your hoped for further stock deline isn't happening today, better luck tomorrow. Wouldn't it be weird , if you actually are wrong? Seems the the rest of the worlds markets area reacting worse than ours. Is that what this was all about, were we supposed to prop up the rest of the world on the pretense of propping up ourselves. The Congress did the right this, Let It Ride! So far, the talking heads have been wrong on every turn. I guess if they sqwuak enough eventually they'll be right but their batting record is 0 for a year now, including a wasted 300 billion dollar bailout that also didn't work.

Cheryl, It's fairly clear that you are horrified by the prospect of double-digit inflation and interest rates. Seems like a nightmare, huh? Not surprising, given most people under the age of 35 have no clue the pain associated with an economic correction such as this. Many of us who went throught it well remember the heartache of the late '70's and early 80's. Interest rates, inflation and unemployment were double digit. Indeed, it seemed you were the excpetion if you weren't out of work, foreclosed on, or both back then. This is scarry yes, but necessary, and w/o our government interference. Bring on the Ramen Noodles!!!

I believe today's market rally shows positive strength in our economy. One day after the worst drop in our markets history the dow regains 25% of its losses! That's a stunning reality. I'd like to think that there are some people in government who are playing the patience game and waiting for the reality of this situation to truly valuate itself but the truth is I think they are spinning their wheels on this. I am grateful for their response time being excessive. I read somewhere that we should divvy out the 700 billion to taxpaying Americans and let them pay off thier mortgages, debts, etc. Then they should have enough money left over to apply to savings, invest and make frivilous cash purchases stimulating our economy. Sounds like a pretty good idea to me ; )

Cheryl, I believe what you're seeing with regard to the taxpayer backlash against Congress has been a long time in the making. Generally speaking, the Congress has no credibility. They have proven to be devoid of intellectual capital and fixated on "pork" and self-serving legislation. Now, despite the economic crisis, we are asked to accept another boondoggle in less than 48 hours--not to mention another "behind closed doors" weekend extravaganza! Not acceptable. If one works (or worked) on Wall Street or in America's largest Fortune 100 companies, one might have a unique view of the Wall Street struggles and shrinking credit markets. Fortunately, most Americans do not work in either. We have built a "house of cards" on derivatives, "shadow money" and fraud. Most Americans are perfectly willing to sit back and watch the house of cards crumble. Will it hurt? Sure, you bet. Will we lose money? Maybe. Maybe not. Americans are a lot smarter and a lot tougher than the average city-dweller could ever imagine. If Congress and the president attempt to ram through this legislation then I expect to see a true backlash like you would never have imagined. Election Day will certainly prove to be interesting. We need an economy that is center on Main Street and NOT on Wall Street. We need to stop our "global view" because it is a figment of Wall Street's imagination. It is not real. The only "real" part of the "global economy" is that now we are all paper shufflers and we buy plastic poop from Wal Mart--that part is real.

Unemployment during the Great Depression was 25% and this great nation survived it. 20% Prime Rate and 19% Federal Rate during the Carter Administration and we survived it! Knee jerk reactions did nothing to help Hoover reverse the effects of the Crash of 1929 just as it did nothing to help Nixon restore the post Vietnam economy. FDR spent around $240 billion in todays dollars and the Great depression still lasted ten years. History has show us that ultra conservative monetary policies as well as ultra liberal ones ultimately lead to disaster. There is a happy medium out there if the heads of our financial institutions are patient enough to look for it. Today's early DJIA rebound is proof that that the market goes up and down with the frequency of a roller coaster. But unlike a roller coaster that always ends up at a lower point than its initial descent the market historically ends up higher than the point from which it begins its decent. That is something to keep in mind as we navigate through the ramifications of cheap money policies. There are lessons to be learned from all of this. Throwing money at the problem (par for the cousre in the US,) merely dooms future generations to the same fate. I do not agree that American's, "just don't get it." we as American's do however have astonishingly short memories when it comes to politics and decision making on Capitol Hill. This time I decided to print out the voting record for this particular legislation and it is going up somewhere near the polling places on election day!

Pay down debt, slash spending, return to fiscal responsibility (government and consumers), start producing, start saving, stop stealing the wealth of the middle class by printing money for wall street bums that levered up 30:1 and lost, and eventually we might return to a great nation. Of course, our tax situation isn't growth friendly either. Can bureaucrats allocate capital more effective than a free people? We need freedom from the federal reserve, honest money, and a government that respects the will of the people.

The sun is shining here in Texas so, I guess the world didn't end. We had high unemployment, high interest rates and gas lines during the Carter administration and we survived. All this bailout bill was going to do was postpone the problem and probably make it worse. Lets admit that the problem was caused by social engineering in the mortgage lending industry, activly encouraged by the liberal wing of Congress, and establish sound lending principles again. Lets stop FNMA and FHLMC from issuing CNOs. Then, as soon as possible lets break them up and sel the pieces. I don't think I have heard any member of our government, with the possible exception of Ron Paul, who have said that we need to spend within our menas and start saving again. Lets start reducing the $700B a year that we drain from our economy every year for foreign energy and start producing more of our own. We can build nuclear plants, produce fuel from coal, and drill for more oil and gas. It's disgusting that members of Congress like Dodd and Franks that contributed to the problem and stuffed their pockets with contributins and sweetheart loans want to dump this problem on the backs of taxpayers.

What I would like is for the government and the people to start living within its means. I hear this bail out is suppose to free up banks to start lending so people can can start spending on credit again. Has it occured to anyone sooner or later you have to stop spending and pay off some of those bills? The majority of American's are over extended right now and even if the bill passes it would only be a temporary fix. In the mean time we have increased our nation debt to over 10 trillion. How in the world are we ever going to pay this off?

CC: What we want is simple honesty. It is bad enough to have taxpayers on the hook for any part of this mess and anything that does not solve the immediate problem should not be in the bill. I am particularly suspicious of a 110 page bill that started out as 3 pages. Address the problem without adding special needs, pork or whatever else we call it.

No! I do not want a further decline in the market or a worsening of the credit sector. We do need a correction in the market and that is what is happening. We also need Washington to come together and stop the finger waving and work out a plan. We are in trouble and we are all to blame so lets get past that. We need to simplify the tax policies in this country. Capital gains taxes need to be reduced, promote savings, cut the corporate tax rate. Realy make changes that promote growth and lets look further than the next election. Lets grow technology and innovation by encouraging small businesses by changing the tax code. And really yesterdays vote was not a surprise. Talk to the folks on the street - it was going to happen! We need to seriously look at the entire system and stop fixing it with band aids.

What the bailout vote demostrates that politicans aren't smart as CEOs of the successful companies are. Now the blame game has started. Speaker Pelosi,if I was to evualte her leadership performance,demostrated real poor leadership. Over the weekend and before the vote she didn't think out her statements and the fact that she left House Republicans out of the loop. Calling the other party unpatriatic,blaming bush etc was unprofessional publicly. Her actions would've gotten her fired from any fortune 500 company. Just this morning Mr. Know it All Chris Van Hollond Rep D-Maryland got a deserve ripping from Morning Joe on His MSNBC show; last night John Kerry got taken to the cleaners by Bill for trying to blame the Republican game. Frankly the public isn't stupid as these politicans think. THe good news the altenate news outlets are picking up on Freddie and Frannie Mae story. This time around the left wing liberal Democrats should feel the heat,yeah like Al Pacino's cop coming into Speaker Pelosi's office with a quote: "Lady you're under arrest." Every bad business descion has its own consequences. This hard fact liberals need to now face for the plot has turned.