Frightening!!!!!! (Draft Bailout Bill)

class warfare

the fed is trying to pull the wool over congress and the american workers

or industry while bailing out wall street


fax or email blast to stop this, have your say

here's a good link with senator info

globaleconomicanalysis.blogspot.com...

the financial system is a scam, unfortunatly it provides the backbone of our society

we will go down with the ship or continue to take shots of credit/crack while the debt burden ways us down further

The time is getting ripe for a false flag attack

millions of angry americans are turning there anger toward wall street and the FED..................the CIA........and masters of our world will be looking to DIVERT anger outward toward foreigners...............time for a "terrorist attack"

the fallout from that would be american people divided between a growing minority convinced that something is a lie with the terrorist story and those who want to slap anyone as "unamerican" for not believing the media information (propoganda). THIS is just speculation, but remember as american's are feeling more economic pain , they will voice a greater displeasure with current plans (especially should they benefit those who are mostly responsible for steering the economic ship into the iceberg) the CIA and intelligency ageny's are masters at diverting this anger outward, they will try should the anger toward wall street grow to a boil.


[edit on 23-9-2008 by cpdaman]

[edit on 23-9-2008 by cpdaman]

reply to post by cpdaman


That's the first thing I thought of as watching the hearings today ..

I thought.. by god.. everyone is mad as hell about this, slowly one by one more and more congressmen are saying NO WAY ..

But if we where attacked.. why .. we would be in the streets DEMANDING that the banks be rescued, take how ever many billions you need, and damnit we need to bomb someone!

Who knows, who knows.. the Fascist are on a roll this year..

Well, all I can say at this point, as we sit here wondering our fate in the next week is, THANK YOU EVERYONE WHO HELPED IN THIS THREAD!

For those of you who began reading this thread with the attitude that we can't do anything, I hope you get it by now. YES WE CAN! This thread alone has more than 20,000 views in 3 days.

I am so proud of everyone who took the time to help look into this matter further and help people understand what was at stake. Considering the Fed & CONgress tried to pull this over a weekend and by Monday morning, enough people knew about it, that they just couldn't sneak off and pass this beast as it was says a lot.

I know quite a few other boards were going viral with this, but ATS members deserve a lot of credit for their part in spreading the word.

Now we have to wait and see what happens next - and hold on, cause I suspect it won't be pretty.

This is a very interesting development considering the timing.

www.abovetopsecret.com...

Honestly, I NEVER saw this coming now!

I'm watching the hearings with 4 of the people that are responsible for this mess annd now are charged with fixing it. I'll post my opinions about the hearing late tonight or first thing in the morning. i might even call in sick to work tomorrow so i can work thru the night.

Sucks working during the day and having to play catchup at night right now

reply to post by Relentless


I was thinking the same think, at least with unexpected hearings todays rather than having the big news that the bill was passed with no problem at least it gives the impression that congress listened to the desperate attempts of the people to stop this madness.

I hope that this not a show after all and that we made a difference.

i caught a piece on glen beck with ben stein ( who i usually cant' stand) he began to go off on a tirade against wall street greed and began to mention why oh why does anyone trust this paulson character, Stein got about halfway into that sentence and GB cut him off, seems the MSM is walking a fine line trying to balance the outrage of american's but not really reveal the obvious (fox's guarding the henhouse) like paulson.

THE BIG QUESTION i have is; Will these senators who talk tuff on TV (at the hearings) actually vote against the bill, or is this just B.S to pacify the tens of thousands of americans who flooded there senator's mailboxes and telephone lines.

Also on Lou dobbs there was a three man panel and one guest (and dobbs agreed) suggested that america may and should very well start a new revolution if this bailout bill passes as is.

This is a interesting time to live in america, as well as interesting entertainment on the MSM.

I have said for well over a year that this will be the time that american's have the best chance to do something for themselves (when the elite's and there puppets on wall street are in pain) and because americans are feeling finanical pain they will STAND Up and be heard, sure you can pass off any propoganda to the majority of americans during "good times" but not during bad, my only concern is that if i realize this, certainly the intelligence community does as well and they must have a "back up plan" to divert anger away from wallstreet and the fed, perhaps something that can polarize people.

[edit on 23-9-2008 by cpdaman]

reply to post by cpdaman

THE BIG QUESTION i have is; Will these senators who talk tuff on TV (at the hearings) actually vote against the bill, or is this just B.S to pacify the tens of thousands of americans who flooded there senator's mailboxes and telephone lines.

As much as we all hate politicians, it's bigoted ignorance to assume they are all self consumed #holes..

There ARE Paul's out there.. I believe there is a hardcore group of leaders out there convinced this is not the way ..

Some are using it for political purposes of course, to postpone to say "hey we are looking out for you" .. but it's the ones that say NO WAY that deserve to be where they are..

Of course I notice MSM has not and will not put Paul on air haha..

Great Ron Paul Interviews!!

Haven't found RP on MSM lately either, very interesting....

However!!

Congressman Paul was interviewed on the 23rd on am830 KLAA’s Insight, broadcast in the LA.CA area (audio link)

And

Dr. Paul was interviewed on NPR’s Tell Me More this morning. (audio link)

He also did an opinon piece on cnn.com today

Commentary: Bailouts will lead to rough economic ride

Using trillions of dollars of taxpayer money to purchase illusory short-term security, the government is actually ensuring even greater instability in the financial system in the long term.

The main page at his campaign for liberty website does a great job of posting anything he does.

Sorry if this is redundant, but notice that one of the provisions says that the act's funding limit is $700B outstanding AT ANY GIVEN TIME. So while some might say the act only lasts for 2 years and it's only mortgage debt that they can buyout (although apparently that's changing), what's to keep them from buying and selling back to their "buddies," then cycling through another $700B, and without any chance of oversight whatsoever, all we would have to combat this is saying "I told ya so!" Truly scary!

Meanwhile, in the UK, Prime Minister Gordon Brown delivers his keynote speech to the Labour Party conference, which includes the following passage on the current global financial crisis:-

"And so it falls to this party and to this government, with its commitment both to fairness and to business, to propose and deliver what after recent events everyone should now be willing to accept - that we do all it takes to stabilise the still turbulent financial markets and then in the months ahead we rebuild the world financial system around clear principles. And friends the work begins tomorrow.

I and then Alistair will meet financial and government leaders in New York to make these proposals:

First, transparency - all transactions need to be transparent and not hidden.

Second, sound banking, a requirement to demonstrate that risks can be managed and priced for bad times as well as good.

Third, responsibility - no member of a bank's board should be able to say they did not understand the risks they were running and walk away from them.

Fourth, integrity - removing conflicts of interest so that bonuses should not be based on short term speculative deals but on hard work, effort and enterprise.

I know that the British people think it's hard work, effort and enterprise we need to reward.

And fifth, global standards and supervision because the flows of capital are global, then supervision can no longer just be national but has to be global."

Did he just slip in the idea that there should be one regulatory body for the global economy, overseeing it on a worldwide scale? Anybody else either smell a rat or smell a whole lot of people seeing an opportunity...

Between the bailout plan in the US and the UK government bailing out Norther Rock, could this be the seeds being sown for a global economy?

Just a thought.

I think the fear of many people at this point is no matter how good some of the people in congress are... they aren't really being given a choice. Theres at least some indication that they saw this coming.

I think the very fact that the draft is still just that and wasnt implemented earlier means a couple things.One that the FED is not as powerful as they'd like to be and congress has a considerable amount of ability to stop this thing dead in its tracks, two is that if the powers behind the powers that be COULD just override the senate and all the checks and balances in place I think they would have already. I for one will stay positive and hope that our delegated representatives remember why they are there and stick up for us.

Ron Paul is not lying he is telling the truth, all this hoo haa about saving the markets and the "American people" as usual comes last, is nothing more than another band aid on the mess.

That is why neither Paulson or Benanke can tell that this deal and squander of tax payer money is going to work.

This all an illusion to attract investors again into the Markets, specially those global banks that infused liquidity for the last year, but guess what it didn't work.

This bail out is for them, to keep them happy after losing all that money.

But is nothing than a illusion and buying time for something that is not going to end any time soon.

We the tax payer will be forced into another catastrophic bill, our nation will be on an incredible and unreachable deficit and the dollar will collapse because of it.

We will be officialy a bankrupt nation before 2010.

Allen H. Meltzer, economic adviser to President Reagan stated: "This is scare tactics to try to do something that's in the private but not the public interest." 9-23-08 New York Times, p. A-21.

At the urging of the banks, Congress legislated the "No Document Loan" had no reliable basis to support it. The notion was one of credit scores being sufficient to allow loans. The banks, securities firms and real estate industry profited. Congress probably really did not understand the implications of what they were signing. They did receive huge campaign contributions from Political Action Committees (PAC's) of course.

Thereafter, the sub-prime market collapsed when the real estate bubble burst. Now dire warnings are being made of a world wide market collapse. The news is that President Bush wants a 700 billion-dollar blank check. This may be a fraction of the actual cost, which will probably run into the trillions. Although 63% of the American public disapproves, the PAC's are lobbying for it.

Prior to the 2005 Bankruptcy Reform, the credit industry was raising Cain about the American taxpayer paying the bill for poor American's getting bankruptcy relief. Their argument was that the public shouldn't be paying the cost in increased taxes for those write-offs. Now banks want taxpayers to bail them out, and are arguing that Americans should pay the bill for their bad investments. Credit card companies alone contributed $200 plus million to PAC's and got 'Bankruptcy Reform" passed.

It has recently been reported that the PAC's oppose strip down to value provisions (lien stripping down to value for residential mortgage loans) for Bankruptcy Judges, which would tangibly benefit the consumer. The banks don't like that. American citizens don't have the power to effectively lobby against the PAC's on this issue, so any such beneficial consumer notion goes out the window. Clearly, lien stripping should be part of any package, were this to make any sense for the American consumer at any level.

Domestic and foreign PAC’s finances Congress. Them PAC's is a good investment.

One of many problems that would arise from a bailout is that the root cause is not addressed. The bubble scenario is capable of repetition.

As old fashioned as it may seem, it may be timely to call your Congressman or Congresswoman or write a letter requesting a thorough analysis before they spend 700 billion to put a band-aide on a severed artery.

If the public does not speak up (and if media won't take the PAC's on) the blank check will be written. As far as writing a blank check to staunch the bleeding, stupid is as stupid does.

The requested relief also encompasses the American public paying for worthless securities held by foreign banks, which is ludicrous.

When all is said and done, PAC's are the cancer that may cost us our Country.

President Bush said we are not in a recession, but we are tapping the "Depression Era Fund." Actions speak louder than words.

It appears that the current administration wants to rush this through before public opposition is mobilized. Congress ought to carefully consider elimination of root causes prior to taking any action at all. Congress should not take any action that's in the private but not the public interest. If enough Americans email, write and call Congress, it may eventually result in a viable solution to our current economic woes. Rome was not built in a day, but Nero fiddled while Rome burned in a day.

Ultimately, until PAC's are made illegal, our interests are debased in the political equation.

Just can't wait to see the Presidential Address in half an hour. This should be interesting. Hopefully he will actually tell us what's going on with the bill, and not just stumble over himself trying to get us to chill.

reply to post by Relentless


"The economy.. it's skery, and we need to pass this resolution, I mean these sanctions these.. these.. this.. whats it called in Congress before it's to late!

I got some people, and they tell me, it's real bad *does a hand motion to indicate severity* and I read this over *does a cheesy smile cuz we all know he didn't read anything* and I have to say this is the only choice.. we have to stay on course, and get the terrorist responsible! *insert confused look*

And the economy is fine, we are doing good, lots of jobs, low inflation, put money in stocks. This economy is strong, god bless America!"

And there will be a close up of georgey-poo telling all of those against such a measure are anti-American, don't know what they are talking about, inline with the enemies and are hampering democracy.

Usual tidbit.

6 weeks before an election, simply unheard of.

reply to post by Gools


Well Gools I just read that "told you so" post of yours. I highly recommend it to everyone (if you havent already). Very impressive and very scary at the same time..I think Ill go make me a stiff drink now..

Somewhy this reminds me of how the FED was introduced in the first place... They made a proposal and had it rejected... And then had another party to make more or less the same proposal... under a different headline..

Anyways I would not be surprised if the current draft would be pushed back.. and a more soft core version of the same thing was passed... With no difference to the final result of-course.. but keeping the average citizen calm..

And now the bill is getting more opposition... Paulson supposedly on one knee in front of Dem leaders. Bull, I tell you. It is all a trick. A Dem or some friendly Republican will present the same reworked bill soon and it will be hailed as a victory for democracy.

The new bill will perhaps cut out giving out 700 billion (or just diminish this sum greatly) but leave in the significant increase of FED power. This is what they actually want. Do you really think they are after this money? This crisis was CREATED... it is purposeful. Thinking that they need to ask for direct bailouts, when they can squeeze the same money out of us without most people even realizing it, is naive.

This, in my opinion, is part of a plan to not only bankrupt the United States, but to take over the banking and every other financial structure. By creating this "crisis", they try to convince the people that they are the solution. I watched "Up to the Minute" this morning on CBS ad a woman who owns a pillow factory, lost over $50,000.00 of her own herd earned savings when the banking system was hit.

How many people has Wall St. destroyed financially while they considered it just another day? Now they want rewarded for cooking the books and manipulating the economy. Those mostly responsible such as the CEO's actually expect a payment as part of the bail-out when they should be in a Federal prison!

Well, this is not getting resolved, I think the report that an accord had been reached was leaked to pump the markets yesterday. No agreement has been reached and we have no real answers to why (since we aren't being provided with further drafts since the release last Saturday.

Another big flop today on Wall Street? someone is making moeny over these artificial pumps, but it's not you and me.