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

reply to post by anachryon


That is why one of the part of the bill is to keep the priying eyes of the tax payer and our own judiciary system from finding out their dirty practices and to who the money is going too.

reply to post by Relentless
Oh boy, you jumped ahead of me on this one. I got a bad headache (i wonddr why) anyway i laid down for awhile while listening to a podcast put up by a show in Boston, i think its called Money something or other....Anyway,
the spin i heard is that THIS IS ALL BILL CLINTONS FAULT!!!!!!!!!! Furthermore, during open lines some supposed "millionaires" called into express how nervous they were, but were sure this would get a quick FIX and the GOP would bail us out (millionaires, that is) and all will be fine.

Ouch. Needless to say i had to rip my earphones off and take 2 more Exedrins.

Well it's not a partisanship game... both are guilty. The Clinton's administration allowed unlimited credit... creating all those bubbles... And Bush spent like there was no tomorrow... But the Bilderberger were behind this.

From the information that got out, we knew that they pulled the plug and their way of solving all this was to give all the power to the federal reserve... which they are doing.

reply to post by dgtempe


There is not a single person that isn't involved on either side of the political spectrum from what I can see at this point (although I agree with KosmicJack that Spitzer was about to blow this wide open if he hadn't left himself wide open for assualt the way he did).

Unfortunately, I think when it comes to political figures, none of them are above reproach, so any who might have done anything about this probably had their hands tied, if they had even the slightest skeleton in their closet, and who doesn't?

I agree- this is NOT and should not be partisan at all.

Why the finger has to be pointed at people, specific people, is beyond me.

reply to post by dgtempe



I honestly think it has been part of the planned distraction all along. Think back how we all used to piss about it ourselves right here on ATS. Now there's been an awakening of sorts, but is it enough? I am seeing it on the streets now too, the realization that neither party is the culprit, they all have the same agenda.

Originally posted by Gools
Notice that they "limit" their authority to 700 billion but at the same time they raise the federal debt limit to 11.3 Trillion. Wasn't it 9.4 trillion that last time it was revised? That's nearly a two trillion dollar jump.

Tell me I am reading this wrong:

Sec. 6. Maximum Amount of Authorized Purchases.

The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time

emphasis:mine

The limit is not 700B total, it is 700B on the books at any one time, doesn't that mean it could actually cost a WHOLE lot more over time as they rotate debt in and out?

Or am I mistaken on this?



[edit on 9/20/2008 by JacKatMtn]

reply to post by JacKatMtn


Good catch JacKat! I think you're right. *freaks*



[edit on 9/20/2008 by Relentless]

reply to post by JacKatMtn


Or that could mean that as long as the books said only 700 billions everything is fine, but remember that with not oversight, not questions and not government and supreme court been able to questions their books they can move around all the money they want and we don't need to know as long as the books said 700 billion.

How Ironic...

September 17-23 is Constitution Week according to a bookmark my children brought home yesterday from school.

The bookmark states

Preamble To The Constitution of the United States of America

WE THE PEOPLE of the United States, in order to form a more perfect Union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.

CONSTITUTION WEEK

SEPTEMBER 17-23

REMEMBER YOU CAN SAVE THE CONSTITUTION

Distributed by National Society Daughters of the American Revolution 1776 D Street, N.W., Washington, DC 20006-5303

Someone should notify the Daughters their Big Brother just sold out the family.

Thanks for everyone's insights on this thread and the information on what to do about it.

One question - How long do we have? Timeline?

reply to post by Relentless
Absolutely. According to some, it has been planned since WWII.
Its all unraveling now.
I like this analogy i heard: The pot is on medium, its getting hot and getting ready to boil.

Holy Cow!

Are people starting to panic?

I just signed off for the night and caught Suze Orman doing a special intro on her show telling people not to panic, why not to pull your money out of the bank, why your money is safe, why to leave your 401(k) alone and keep contributing, yada yada.

It was just bizarre!

reply to post by JacKatMtn


You're right, Jack. It clearly states at any one time, so $700B really = "as much as we damn well please."

Is it time to be scared? Cuz I kinda am.

Actually, this unprecedented tampering with an overwhelming debt will eventually collapse the nation but the Fed investment bank cronies will be able to bankrupt America, the tax payer and walk free with their wealth intact.

And we will never be able to find out how much they will steal.

It looks like to me that they could move as much as they want for 2 years, as long as they stay under the 700B benchmark.

This is also troubling:

(c) Sale of Mortgage-Related Assets.--The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.

What's to keep this one person from selling these assets to buddies for pennies?

Hence:

Sec. 8. Review.

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.

There is no way in hades that this should even be INTRODUCED on the floor of Congress.

:bnghd:

Even this simple country boy knows that this is wrong...

Where is our leadership?

Anyway carry on with this thread it is important,

I need to step outside and rage for a few :rant:

reply to post by Relentless


People should panic this about an entity with totalitarian powers taking over the nations tax payer moneys and do as they wish.

Even if that means bankrupting the nation and the America citizens.

When you have money been diverted to bail out the banks and nothing to fix the national debt, we are going to become bankrupt no matter what.

Originally posted by JacKatMtn

...doesn't that mean it could actually cost a WHOLE lot more over time as they rotate debt in and out?

Or am I mistaken on this?

$700B "on the books", at any One time, over the coming two years, with the ability to extend said "period" as deemed fit or necessary.

... was how I read it.

Guess we'll see what Congress "okay's" in the end... Monday should be interesting. (?)


 

At least I did my duty as a citizen, I send two e-mails for my state representatives and one to each the presidential candidates also I signed the petition.

They also send two more letters to the representatives.

What else can I do, I wish I could march onto Washington and protest.

reply to post by dgtempe

The reason they are pointing the finger at slick willie i mean Bill Clinton is because the changes to the rules took place under his watch.
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I said earlier that i thought they had this drafted in 2001 but after thinking about it and seeing some posts after mine They had to have this ready back as early as 1996. just waitting for the economy to tank so they could pull it out and use it.

When the mice bribe the cat to close his eyes it can never be good and thats what happened here. the bankers and big CEO's bribed congress to change the rules so congress could take a blind eye and the banks and CEO's could make huge profits on risky investments. And they thought they could get their profits and get out with very little damage or no damage at all. Anyone with half a brain could see that there would be major damage done to the economy and the changes that were allowed was not a good idea. But anyone that spoke up was quickly silenced!

not looking forward to monday morning and seeing the fallout of this bill.

[edit on 9/20/2008 by Mercenary2007]

Hi There,

What you gonna do? Well, it seems the greatest country in the world (as many that live there are oft' want to tell the rest of the world)...isn't! In fact, it never was, just a people living under an illusion, and things have been falling apart, economically and militaristically, for quite some time. Quite simply, America cannot afford the cost of its military, nor can it afford the cost of its economy. It is in such dire straits that it is teetering on total collapse, because the illusion of being 'wealthy' indoctrinated so deeply that any signs to be seen contrary to the illusion were dismissed as mere lies..."no no, my dear fellow, its not cancer, just a benign mole." The illusion was so intrained, that you sought to convince the rest of the world of it...the biggest, the greatest, the best, the bravest, the most free, but in fact, America is the most debt-ridden, corrupt, insular and indifferent country on the planet, and Americans are awakening to the fact...why? Your politicians are showing you why!

You had the chance of a good start, based on ideals of community, equal economy, freedom for expression of ideas and entrepreneurial enterprise, but in a few short decades this was supplanted with power grabs and economy control...and the people did nothing to maintain the ideals of the start, and over the passing of years took for granted what had to be fought for daily...the people abidicated their responsibility to their country's idealistic beginnings. Today, there is only one way out of the mess, return to those idealistic beginnings...demand it, fight for it, or quite simply follow the trend and stf up with your whinging and whining. What you gonna do? What are you gonna do?

Many say you love your country, and that many have fought for it beyond its shores, but few are fighting for it where it counts the most...within its own borders. Many seem quite happy to square up to some third world country, but are not willing to square up to the enemies inside its own capital. I'll tell you, the British Redcoat of the 1790s could not have had a greater empathic ally than the modern American whom expect their government and corporations to follow the ideals of the Constitution...that is where the greater part of the illusion lay. As long as one could perceive the illusion, one believed the reality of what that illusion pertained to be was there also...it never was! Now however, a different and wholly unexpected reality is becoming all too tragically clear. Gangs of governmental pirates have taken your Constitution and thrown it on the floor and stamped and shat all over its ideals...they might as well be the Mafia. What you gonna do?

[edit on 20/9/08 by elysiumfire]