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- rebrad, on 09/21/2008, -8/+275One World Baby. It's all in the plan.
- DCMacHead, on 09/21/2008, -8/+181WTF? EVERYONE is going to want a bailout. The more we learn about the fine print, the more objections people will have, the longer it will take to get resolved, and the higher the likelihood of an outright crash. No need to worry about inflation--we're going to have deflation.
- inactive, on 09/21/2008, -5/+143We are seeing history in the making right now. Fifty years from now they are going to write about what is happening in this country over the next several months. They will know if we stood up to international banking cartel or let are if we let our country be completely taken over without a shot being fired.
- richmomz, on 09/21/2008, -4/+139Great, so U.S. taxpayers are going to bail out the malinvestments of Saudi princes and Swiss fatcats on top of Wall Street - can we even come up with that much money? Thanks but I don't want to move a trailer park so the jerks on Wall Street and the European banking cartel can keep their palatial estates...
- irisheyes1169, on 09/21/2008, -3/+135When are these bailouts going to stop? Foreign banks now? We have more than enough of our own banks problems with out adding to it.
- Erich100, on 09/21/2008, -19/+120This will surely be the end of the American economy and the end of America.
- zantos420, on 09/21/2008, -7/+88yeah, let's worry about other countries when we can't even take care of ourselves...
- spinchange, on 09/21/2008, -0/+72GM and Ford are already taking advantage and working overtime with lobbyists to get a nice sweet $25-50 Billion loan out of the government for all their troubles. The bad news: Both McCain and Obama support it to some degree or another. :(
- inactive, on 09/21/2008, -6/+76Are you an American or a Globalist?
*Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."
Contact your reps IMMEDIATELY and non stop. Shut down DC switchboard!
http://www.visi.com/juan/congress/ - inactive, on 09/21/2008, -11/+70The mass extinction of humanity has now commenced. Get ready for global genocide.
- borez, on 09/21/2008, -5/+64Well done America... You've just become a Fascist Kleptocratic Dictatorship.
- gigamugged, on 09/21/2008, -6/+62The only reason the idiots in power can get away with this is because WE are scared enough of the consequences to keep paying taxes. At what point will you have had enough? Peasants in the middle ages would have risen up and had the king's head for far less... all we have to do is refuse to send in a piece of paper.
- inactive, on 09/21/2008, -12/+67With the nationalization of Fannie and Freddie, comrades Bush, Paulson and Bernanke started transforming the US into the USSRA (United Socialist State Republic of America).
This transformation of the US into a country where there is socialism for the rich, the well-connected and Wall Street (ie, where profits are privatised and losses are socialised) continues today with the nationalisation of AIG.
This latest action on AIG follows a variety of many other policy actions that imply a massive – and often flawed – government intervention in the financial markets and the economy: the bail-out of the Bear Stearns creditors; the bail-out of Fannie and Freddie; the use of the Fed balance sheet (hundreds of billions of safe US Treasuries swapped for junk, toxic, illiquid private securities); the use of the other GSEs (the Federal Home Loan Bank system) to provide hundreds of billions of dollars of "liquidity" to distressed, illiquid and insolvent mortgage lenders; the use of the SEC to manipulate the stock market (through restrictions on short sales).
Then there's the use of the US Treasury to manipulate the mortgage market, the creation of a whole host of new bail-out facilities to prop and rescue banks and, for the first time since the Great Depression, to bail out non-bank financial institutions.
This is the biggest and most socialist government intervention in economic affairs since the formation of the Soviet Union and Communist China. So foreign investors are now welcome to the USSRA (the United Socialist State Republic of America) where they can earn fat spreads relative to Treasuries on agency debt and never face any credit risks (not even the subordinated debt-holders who made a fortune yesterday as those claims were also made whole).
Like scores of evangelists and hypocrites and moralists who spew and praise family values and pretend to be holier than thou and are then regularly caught cheating or found to be perverts, these Bush hypocrites who spewed for years the glory of unfettered Wild West laissez-faire jungle capitalism allowed the biggest debt bubble ever to fester without any control, and have caused the biggest financial crisis since the Great Depression.
They are are now forced to perform the biggest government intervention and nationalisations in the recent history of humanity, all for the benefit of the rich and the well connected. So Comrades Bush and Paulson and Bernanke will rightly pass to the history books as a troika of Bolsheviks who turned the USA into the USSRA. - Wongster41, on 09/21/2008, -2/+56Dear Government,
Please bail me out from my credit card debt/college loans. Thanks. - JesseJ, on 09/21/2008, -8/+61And then.. suddenly... Tadaaa.. Amero! The new currency.
Ah, but nooo.. that's just an "conspiracy theory". We knew this was going to happen years ago... But people were too busy with Wii, iPod, Porn and LOST.
- Jesse - - Lazerz, on 09/21/2008, -3/+54Imagine if they split the golden parachutes of all the large banks and gave them to US Taxpayers, wouldn't that be fair as a small compensation for saving them? What I really don't understand, is how the US Taxpayer benefits at all. Usually when you give a loan, you expect something in return. In this case, for the price of giving the greedy bastards their quality of life and golden parachutes back, we will be stripped of our money and left homeless.
This isn't socialism, this is a ***** TOTALITARIAN REGIME! - inactive, on 09/21/2008, -9/+60RON PAUL is the ONLY one in congress warning us for 30 years!
- LooseFur, on 09/21/2008, -2/+50Everyone, please, PLEASE WRITE YOUR SENATORS AND CONGRESSPEOPLE about this sick POWER GRAB by Bush in the dying days of his failed presidency!!!
You can use an edited version of the following text as a basis to e-mail them all:
Dear Senator XXXXXX:
I am writing in very deep concern over the Wall Street Bailout Act, currently entitled as "LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS".
This is, to say the least, a deeply troubling bill. Specifically:
1. There is little to no oversight. Furthermore, section 8 ensures that any oversight is crippled from the start, as it states, and I quote from the text of the act: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
2. The floating amount controlled by the Secretary of the Treasury is $700B is effectively a blank check as there is no hard limit.
3. It appears that the power of the Secretary extends to no-bid contracts.
4. It provides no restoration of the provisions of the Glass-Steagall Act, modernized or otherwise, that were stripped away by the Gramm-Leach-Bliley Act. It does absolutely nothing to change the fundamental problems that led us to this situation.
I strongly urge you to vote against this bill. I know that we need to prevent the complete disintegration of our economy, but this is not the solution. This is a blank check to the executive; it is the abdication of the financial powers granted to the legislative branch in Article 1, Section 8 of the constitution.
Sincerely, - SIERRAHPBT, on 09/21/2008, -9/+54GOT SILVER??? GOT GOLD?? the dollar is dead!
- MorganMghee, on 09/21/2008, -1/+42NO NO NO NO NO NO NO!
- Jhiaxuz, on 09/21/2008, -7/+47The USA will become China's poorest Province soon.
- JesseJ, on 09/21/2008, -2/+42Nah, just end of the dollar.
Welcome Amero, the currency that is only for 'conspiracy theorist', now soon everyone's new currency. Wait a few days and see all dollar assets be traded to 'foreign' currencies, dollar expire to nothingness, and then tadaa.. Amero.
You were warned years ago.
- Jesse - - inactive, on 09/21/2008, -3/+42I want MY bailout....and I WANT IT NOW!....sheesh
- jessehadden, on 09/21/2008, -3/+41What... huh... what? This is insane. The only reason they can do this is because they can put us in cages for not paying them money. What happened to the America I was raised to think I grew up in? This is just serfhood. They could be reasonably rich and still treat us with dignity. Instead, they squeeze, and don't let up until our backs are against the wall and we have nothing left to lose.
- inactive, on 09/21/2008, -12/+49*****!!
- vxp19, on 09/21/2008, -2/+37no. to be USSRA you need to be socialist, as you yourself pointed out.
Socialism is the sharing of debt _and_ profits.
This is fascism, not socialism. Hell, even Hugo Chavez started sharing the oil profits with his people after he nationalized the oil industry. This right here, in USA, is not socialism but fascism.
It's not comrade Bush or comrade Paulson.
It's gauleiter Bush and gauleiter Paulson. - Striker101, on 09/21/2008, -4/+38USA bankruptcy, whether admitted or not, will stop it all.
- inactive, on 09/21/2008, -0/+33Trailer park? You might want to take that if it's offered. We're talking about people becoming homeless.
- theviceroy, on 09/21/2008, -4/+36Next up from Paulson - "The dollar is insolvent - we need to switch to the amero"
- SIERRAHPBT, on 09/21/2008, -6/+35McCain??? nice try dingbat! RON PAUL DID WARN US YEARS AGO!
- raisputin3, on 09/21/2008, -5/+34@Marble68
You're not very bright are you? - avengingturnip, on 09/21/2008, -3/+32Now we begin to see the full nature of the NWO. Give the banksters all your money. Accept a debt you can never pay off. It is for your own good and you don't have a choice anyway.
- Shaman760, on 09/21/2008, -3/+32I can has bailout?
- richmomz, on 09/21/2008, -0/+28I vote for a good old fashioned "tar and feathering."
- inactive, on 09/21/2008, -4/+32I need a bailout. Will the government help me?
- Erich100, on 09/21/2008, -1/+28At that point the US will exist in name only. For all practical purposes the NAU will be in effect.
- inactive, on 09/21/2008, -0/+26Only because we won't have anything left to send. You can't get blood out of a turnip:)
- browntiger, on 09/21/2008, -0/+26If it wasn't protected by FDIC we should not be bailing them out. Not our responsibility!
- AriaStar, on 09/21/2008, -1/+26And who doesn't get a bailout? The working people who can't make ends meet. Let's pay taxes to bail out the rich!!
- inactive, on 09/21/2008, -13/+38***** YOU!!! GET YOUR GUNS AND START THE MOVEMENT. This is *****, the government should fear you, you are the wolf they are the sheep! Stop letting them take from you and your family. They dont give a ***** about whether or not your kids can get health care or have food put on your table. They want to take it all, make you subservient to debt and take away your liberties one by one. Dont let the fear stop you, TEACH THE GOVERNMENT WHAT FEAR REALLY IS!
- inactive, on 09/21/2008, -1/+25you don't get it; we will be mexico
- richmomz, on 09/21/2008, -1/+25You're right, and it's already starting: http://www.telegraph.co.uk/news/worldnews/northame ...
- Godwhacker, on 09/21/2008, -4/+28McCain and his Keating Five style politics F--KED us.
- inactive, on 09/21/2008, -2/+24Its just baffling how apathetic we've all become.What's it going to take for everyone to wake the ***** up.
- Ne007, on 09/21/2008, -1/+23For the Loss......?
- Pacer78, on 09/21/2008, -1/+21While our government is at it why don't they just payoff all the mortgages in the US, its only play money or it soon will be.
- inactive, on 09/21/2008, -0/+20Good points.
- Lazerz, on 09/21/2008, -1/+20This issue will probably define democracy for the next fifty years as well.
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