Rescue bill revealed
Proposed legislation details plan to enact historic bailout of nation’s financial system.
Last Updated: September 28, 2008: 4:37 PM ETPain on Main Street, risk to taxpayers
The chill of the credit freeze has been felt far beyond Wall Street, as well. Businesses large and small have seen the cost of borrowing spike higher.
At the same time, the scale of the administration’s plan - and the quick pace of the debate over it - has given pause to many Americans and lawmakers worried about its potential cost to taxpayers.
“We begin with a very important task, a task to stabilize the markets, to protect all Americans - and do it in a way that protects the taxpayer to the maximum extent possible,” Paulson said early Sunday morning. MUCH MORE
I only posted the last three paragraphs of the article, however it’s almost a guarantee that our Congress will once again rush into action, guided by threats of national security and potential national emergencies to give away more taxpayer dollars to the corporations and the wealthy, proof positive that none of them who vote for this bailout give a damn about the average American. Just as they did with the Patriot Bill, they rushed and signed a Bill that only two or three actually read, a bill that had been prepared by the government prior to the 911 attacks. Now, another crisis, and Congress is getting ready to sign a Bill that is essentially what Bush requested in a Bill that was written far before this co-called collapse happened, and instead of taking the time that Bush and his cronies put into planning for this event, it seems our Congress should place an adequate amount of time investigating and at least grasp the financial implications entailed in this bill rather than caving-in prematurely before they truly understand its financial implications and the real costs to the Taxpayer.
When the Bill was initially presented, it was just two (2) pages long. The vultures descended from “K Street”, and that same Bill is likely in excess of 200 pages by now, and I’m only guessing. The financial buzzards will pick at our financial corpse, helping it to implode even more quickly with pork and waste, traitors in their own right as they buy support rather than earning it - engaging in a practice that is nothing more or less than legalized bribery. This demonstrates that our financial institutions are fighting for their share of the money, on their terms - and they all want as much of it as the Bill will allow. Wall Street will benefit and Main Street loses again, this time in a magnitude that will forever change America’s “free market” (sic). You’ll also notice the timing of this crisis; Congress is ready to adjourn, so along with Bush’s scare tactics, we have Congressmen that just want to go home, and that doesn’t always equate to fair representation from Congress. All of our Congressmen that vote for this measure need to be reminded when it’s election time that they were co-conspirators in the largest theft of taxpayer money in our country’s history - and they share in the shame for their complicity in the robbery of America.
Ever since this economic emergency materialized this site has been extremely busy. Most of the searches are for information on martial law, FEMA internment camps, FEMA coffins, and subjects that have to do with losing our liberty and freedom. The air is charged and millions are waiting “for the next shoe to drop.” The wealthy have captured most of our money, although admittedly, there’s still some left, and in the natural progression of a fascist society, now that the government is in control of the money, the last vestiges of our freedom is exactly that, freedom itself, and I’m hoping that we don’t reach that low in our history - and even more importantly, help to ensure that we don’t go quietly as the majority of the Jews did in Hitler’s Germany.
UPDATE: I just read CNN, and our Congress has every intention of passing this egregious Bill, even though it is objected to by approximately 80% of the public. Once the legislation is signed into law, Bush will issue a “signing statement” to interpret how he will react to the Bill. It may remain secret, and the public may never know how and exactly where we were robbed during the execution of this financial bailout, and the subsequent execution of America’s free market.
Rescue bill released
Legislation details plan to enact historic bailout of nation’s financial system.
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: September 28, 2008: 6:22 PM ETNEW YORK (CNNMoney.com) — The federal government would provide as much as $700 billion in a far-reaching plan to rescue the nation’s troubled financial system, according to a bill posted online by leading Democratic lawmakers on Sunday.
House Speaker Nancy Pelosi said she hopes the House will take up the bill on Monday. Sen. Majority Leader Harry Reid, D-Nev., said he believes the Senate can move on the legislation as early as Wednesday.
“We sent a message to Wall Street - the party is over,” she said at a press conference with Reid and other Democratic leaders from the House and Senate. MUCH MORE
Sure, the taxpayers won’t have to foot the bill… If you buy that one, I’ve got millions of acres of swampland for you too. “Pelosi said the provisions added by Democrats will protect taxpayers from having to pay for the bailout.” That’s IF everything goes as planned, and in that regard, we know it won’t. Here we go again, a Congress complying with the same President that helped to create this mess as if somehow, the worst President in our history will atone for his crimes and govern this nation with the people in mind instead of his corporate cronies and the wealthy the Bush family represents.
It’s time to ring their phones off the hook again, write to your local and national editors, and generally, tell the politicians that are so quick to sell us out that we aren’t interested - and the people that got themselves in this mess will have to suffer the consequences. We, as a nation and people have suffered the consequences of Bush’s folly in Iraq and Afghanistan (the latter of which we could have won.) and a once strong nation is almost on its knees, brought there by the greed of corporate America and the complicity of the Bush administration. If this were local, we would call 911 and report an obvious robbery; this has to be against our constitutional rights, as it constitutes Taxation without Representation - and somehow, the crooks in Washington want us to roll-over and accept that we’re going to pay for the greed and criminality of Wall Street. This morning, CNN ran another story where the President is urging quick passage of his bailout for the wealthy and Corporate America - a Bill that will drive America’s Middle-class into obscurity and change our financial landscape forever; welcome to fascist America, where nothing matters except money and power, all of which is being taken away from the people and is being handed to those who helped to destroy America.
Bush, Fed chair push for rescue
President, Fed Chair urge support of $700 billion bailout measure. House poised to vote.
William Cormier
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