Posted: 09/30/08 05:19
by Dave Mindeman
After looking at the Minnesota delegation's vote on the $700 billion financial package...well, let's just say there was some head scratching. There was John Kline listed with 3 Democrats as voting in favor of the bill. And there was Tim Walz siding with Michele Bachmann against it.
What gives?
The perspectives run the gamut. Polinaut has audio from each member of the delegation talking about their vote and it is very interesting to listen to.
For instance, Tim Walz clearly wanted more in the bill that protected the homeowners and put some "teeth" into oversight. He didn't have confidence in this "trickle down" recovery as he put it. He does want something done, but if there are no changes to this bill, he will not support it. He claims that he hasn't seen the the direct effects on his constituents that others claim to have seen.
Although Bachmann voted the same way as Walz, her reasons were much different. She spoke on the floor of the House and went technical on everybody....talking about the dangers of "Mark to Market" accounting procedures...which is a technical accounting system that affects valuations. The odd thing about singling this particular procedure out is that the SEC already has the power to stop or suspend this portion of it. Oddly enough, Bachmann seems to be asking for tougher oversight from the government... interesting position for the free marketeer.
But maybe the strangest case of all is Congressman John Kline. His audio interview is pretty extensive and he goes into a long lament about how this bill was the product of good, bipartisan negotiation. It wouldn't have been the bill he would have written but it was brought together in a true spirit of compromise.
Did they bring in a John Kline impersonator for that interview?
I would imagine that some of this stems from Kline's relationship with John Boehner. Boehner was looking for votes in every nook and cranny and Kline was probably one of the "called in favors" for the Minority Leader. But it was surreal to listen to Kline talk about the spirit of compromise....this, coming from one of Minnesota's most partisan members. And I could also put forth the cynical view that the banking lobby was putting some pressure on the people that are affected by lobby pressure....and Kline is certainly one of those.
There will be more action on this bill during the week. The ebb and flow of support for this will give us more political theatre.
Meanwhile, watch the Twins and not the stock market.
