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The Bailout Bill is all about bailing out foreign crooks
#1
Just watch the short video.

http://market-ticker.denninger.net/

You have heard that its all "American Gambles"

You have been told repeatedly by George Bush and Henry Paulson that this bill is about a "rescue" of Main Street, not Wall Street.

You have been lied to repeatedly.

The bill The Senate intends to try to ramrod down your throat is neither about Main Street or really even about Wall Street.

You are going to get VERY angry. Sit down before you read further.

""Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California"

That's right folks. You are going to have $700 billion - about 25% of the total federal budget - put on your personal credit card (via taxes forever) in order to bail out foreign investors.

Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!

Here is the definition of a "troubled asset", right from the bill:

"(9) TROUBLED ASSETS.—The term ‘‘troubled assets’’ means— (A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability;

and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress."

Notice that conspicuously missing from the definition is the requirement that the asset's underlying thing (that is, the property that was mortgaged, etc) lies within the United States. Also note that Treasury must tell Congress if they add "new types" of debt, but that Congress has no right of review or censure.

That is, it is perfectly legitimate under the bill for a foreign bank to sell or swap any "crap sandwich" it may hold (irrespective of how or where it originated, so long as a mortgage is the basis for it somewhere) with a bank domiciled in the United States, and said bank may then "PUT" it into the TARP.

Note also that Representative Sherman said on Kudlow last night that when this was raised with Secretary Paulson he was told that if Congress tried to restrict the ability of the Secretary to purchase assets "laundered" in this fashion from foreigners, that the bill would be vetoed.

Here 'ya go folks.

You better make this viral and spread it to everyone you know.

Right here, right now.

You better get on the phone to your Congressfolk at http://www.house.gov and http://www.senate.gov and make clear that you will not stand for this bill being passed.

IF THIS BILL PASSES YOU WILL WIND UP EATING $700 BILLION OR MORE - REMEMBER, THIS IS A REVOLVING CREDIT LINE, NOT A MAXIMUM AMOUNT - OF FOREIGN BAD DEBT FROM THE CHINESE AND ELSEWHERE.

THAT'S RIGHT - THE PURPOSE OF THIS BILL IS TO SCREW YOU, THE AMERICAN TAXPAYER, BY OFFLOADING ALL OF THE TROUBLED DEBT AROUND THE WORLD ONTO YOUR HEADS!

ARE YOU GOING TO LET CONGRESS GET AWAY WITH THIS?

YOU HAVE LESS THAN 48 HOURS TO STOP IT.

NOW YOU KNOW WHY IT WAS SUCH A "RUSH JOB" - THE AMERICAN PEOPLE WERE BEING CONNED OUTRIGHT BY BOTH PAULSON AND BUSH.

PERIOD
"More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction. Let us pray we have the wisdom to choose correctly." ~ Woody Allen
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#2
They all deserve to be judged by the People, tried and fried/hung like the
rabid dogs and pigs that they are.

Cheers <img src="{SMILIES_PATH}/muaha.gif" alt="Muaha" title="muaha" />
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#3
Quote:They all deserve to be judged by the People, tried and fried/hung like the
rabid dogs and pigs that they are.
Cheers <img src="{SMILIES_PATH}/muaha.gif" alt="Muaha" title="muaha" />

I didn't watch the 60 Minutes episode with Paulson last Sunday (actually I don't watch TV.) ... but it seems that everyone on Wall Street was aware of the scam. Paulson had to have known too. Hell, I knew and I'm way off in the desert hinterlands. And now they're trying to pass their dodgy dealings onto the American public. The 700 billion bailout is just a start. If this bill goes through, I've read, it could total well over 5 trillion dollars. Lessee now, 700 billion is about 10% of American GDP if you add in the $630 billion recently pumped through the Fed. That equals about 1.33 trillion so far. And 5 trillion ... I don't wanna even think about it. Anyway, here's the article and video:

http://www.lifeaftertheoilcrash.net/BreakingNews.html
&quot;More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction. Let us pray we have the wisdom to choose correctly.&quot; ~ Woody Allen
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#4
Here's a nauseatingly plausible theory:

http://tinyurl.com/538e8j

What is it, a couple hours before poppy bush finally gets his hands on all that treasury money?

Quote:Anyone remember how fucked we were in '92? How a 12 percent fixed mortgage was damn good at the time?

Anyone remember from 93 and 96 where 2,400 banks disappeared? Hell, at the end of 1994, the 42 largest banks that gobbled up the rest of them controlled 25 percent of all the nation’s deposits. By 1996 the 13 largest banks held 25 percent of all deposits. Oh...and 42,200 employees lost their jobs at banks across the country during that time. How in '94, when the banking industry poured over $17 million into congressional campaigns? Funny how the banking industry was in dire straits back then as well, and not only did the banking sector get denied a huge payoff like they are asking for today; they were able to dump cash into congressional campaigns.

We survived. I remember I used to lie awake at night wondering how I was gonna make my house payment; but it was actually about as tough then as it is right now. There was no trillion dollar bailout...that wasn't even discussed. Bill Clinton raised taxes on the upper 10 percent, and dumped the money right bank into the economy and it responded.

Of course when the dominoes started to fall in '92, we were coming fresh off of *surprise*...a Bush Presidency. They didn't get to fall the whole way though. That's why the sons of bitches stole this election; he didn't get a chance to do his second term and put the country in a completely fucked position so that he could steal a trillion dollars, and he wanted that money. Those pesky Dems actually snuck up on him, and took the chance away from him last time. He wasn't gonna take the Dems lightly after that mess. This whole thing is poppy, rove, cheney...all of the BFEE finishing the job and finally robbing the treasury before riding off into the sunset.
Don't believe anything they say. <br />And at the same time, <br />Don't believe that they say anything without a reason. <br />---Immanuel Kant
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#5
http://www.youtube.com/watch?v=jp9RZ1uQS3E

<img src="{SMILIES_PATH}/smoke.gif" alt="Smoke" title="smoke" />
Never invite a Yoda to a frog leg dinner.
Go ahead invite Yoda to a Frog leg dinner
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#6
Quote:Here's a nauseatingly plausible theory:

http://tinyurl.com/538e8j

What is it, a couple hours before poppy bush finally gets his hands on all that treasury money?

Quote:Anyone remember how fucked we were in '92? How a 12 percent fixed mortgage was damn good at the time?

Anyone remember from 93 and 96 where 2,400 banks disappeared? Hell, at the end of 1994, the 42 largest banks that gobbled up the rest of them controlled 25 percent of all the nation’s deposits. By 1996 the 13 largest banks held 25 percent of all deposits. Oh...and 42,200 employees lost their jobs at banks across the country during that time. How in '94, when the banking industry poured over $17 million into congressional campaigns? Funny how the banking industry was in dire straits back then as well, and not only did the banking sector get denied a huge payoff like they are asking for today; they were able to dump cash into congressional campaigns.

We survived. I remember I used to lie awake at night wondering how I was gonna make my house payment; but it was actually about as tough then as it is right now. There was no trillion dollar bailout...that wasn't even discussed. Bill Clinton raised taxes on the upper 10 percent, and dumped the money right bank into the economy and it responded.

Of course when the dominoes started to fall in '92, we were coming fresh off of *surprise*...a Bush Presidency. They didn't get to fall the whole way though. That's why the sons of bitches stole this election; he didn't get a chance to do his second term and put the country in a completely fucked position so that he could steal a trillion dollars, and he wanted that money. Those pesky Dems actually snuck up on him, and took the chance away from him last time. He wasn't gonna take the Dems lightly after that mess. This whole thing is poppy, rove, cheney...all of the BFEE finishing the job and finally robbing the treasury before riding off into the sunset.


excellent post Valentine! I remember! and it was another 6/7 years after that when the interest rates plummeted to 60s levels-all a matter of timing. Though that time in California was a truly punitive ones, good paying big business left the state for TX and all work relating to developing was at a total standstill for TEN YEARS. Only the very rich got richer in those times- and in the meantime the floodgates were opened wide for the TENS OF MILLIONS OF ILLEGALS TO INVADE EVERY SQUARE INCH OF THIS COUNTRY.

Interesting to have witnessed the entire take down, step by step-inch by inch.
&quot;Confusion... first sign of a bad relationship-whether personal, societal or governmental&quot;
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