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Bailout Plan = Financial "Patriot Act"?

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posted on Sep, 23 2008 @ 08:22 AM
Am I the only one who gets the distinct feeling that this "bailout" plan that they are trying to rush through congress is eerily similar to the circumstances surrounding the passage of the patriot act?

The front page of CNN right now has
Urgent call for bailout

They are rushing this through and there is a lot of behind the scenes action taking place. I know that the taxpayer is being taken for a ride here, but I think that it is FAR worse than it appears to be on the surface.

I wonder how bad this is going to be for everyone. I am sure that we will be talking about this bailout for years to come and facing the consequences of it for even longer.

posted on Sep, 23 2008 @ 09:15 AM
In short, no, it aint just you. Especially the "no oversight, no review" clause is just too convenient for these clowns.

posted on Sep, 23 2008 @ 09:53 AM
No, you’re not the only one.
And there’s going to be millions more soon when it’s realized, by the common man, they’re still going to loose their homes, not a get a penny in help, and be stuck with the (Bail Out) Bill in their hand on the way to the poor house.


posted on Sep, 23 2008 @ 10:02 AM
It's the ulitmate example of Disaster Capitalism. Or Problem-Reaction-Solution. Or Extortion. Pick one.

posted on Sep, 23 2008 @ 10:10 AM
I think there is some other sinister motive for this "bailout". A lot of people were saying there was a planned economic crash scheduled for mid September months ago, and now the Government is coming to the rescue?

posted on Sep, 23 2008 @ 10:16 AM
Free markets are dead. Capitalism is dead.

The pirate of socialism has reared its ugly head once more, and what J.P Morgan started in 1930 has been finished by the Fed. Total control of the US people and currency (therefore by extension, the entire world economy) is now within the hands of an elite anonymous cabal.

posted on Sep, 23 2008 @ 12:50 PM
Roll Call

...Paulson said Congress and the administration must move rapidly.

“We must do so in order to avoid a continuing series of financial institution failures and frozen credit markets that threaten American families' financial well-being, the viability of businesses both small and large, and the very health of our economy,”

Paulson said in remarks as prepared for delivery. “The market turmoil we are experiencing today poses great risk to U.S. taxpayers.”

Fratto said it would be “unthinkable” for Congress not to pass legislation this week, asserting the result would be a “very, very serious situation” for the U.S. economy. “It shouldn’t take much analysis to remember what happened last week, which was a very serious freeze-up in our credit markets,” Fratto said. “Our financial markets right now do not need uncertainty, they need increased certainty as to how this rescue plan is going to go forward — and that they can be sure that there is a plan to go forward — and that will begin the correction in our financial markets.”
Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough...

So this has been in the works? That's not really how it was presented over the weekend, supposedly it was just put together. Which is it?

As a talking head on MSNBC just said - we were told the Bear Stearns bailout would work, then Fannie/Freddie would surely fix Wall Street's ills, then AIG. None of that has worked but this new 1 trillion dollar boondoggle will!?

I say again - Extortion. Disaster capitalism. PRS.

posted on Sep, 23 2008 @ 01:18 PM

Now is the Time to Resist Wall Street's Shock Doctrine
By Naomi Klein - September 22nd, 2008

I wrote The Shock Doctrine in the hopes that it would make us all better prepared for the next big shock. Well, that shock has certainly arrived, along with gloves-off attempts to use it to push through radical pro-corporate policies (which of course will further enrich the very players who created the market crisis in the first place...).

We have seen this many times before, in this country and around the world. But here's the thing: these opportunistic tactics can only work if we let them. They work when we respond to crisis by regressing, wanting to believe in "strong leaders" - even if they are the same strong leaders who used the September 11 attacks to push through the Patriot Act and launch the illegal war in Iraq.

So let's be absolutely clear: there are no saviors who are going to look out for us in this crisis. Certainly not Henry Paulson, former CEO of Goldman Sachs, one of the companies that will benefit most from his proposed bailout (which is actually a stick up). The only hope of preventing another dose of shock politics is loud, organized grassroots pressure on all political parties: they have to know right now that after seven years of Bush, Americans are becoming shock resistant.

posted on Sep, 23 2008 @ 04:27 PM
They haven't published the latest revisions to my knowledge, but the media's claiming that Dems have added some oversight, homeowner "help", etc. but we don't have the text. The entire thing stinks to high heaven. Anyway there are all of 3 people voicing opposition. On Friday, it's the Nationalized States of America!

posted on Sep, 24 2008 @ 02:04 AM

It looks like dailykos has been reading my posts.(jk)

Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.

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