Deal reached on financial markets bailout

Deal reached on financial markets bailout

www.msnbc.msn.com

Under the plan, the federal government would purchase mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

At the insistence of House Republicans, some of the program's $700 billion would be devoted to a program that would encourage holders of distressed mortgage-backed securities

(visit the link for the full news article)


Related News Links:
www.bloomberg.com

It's amazing that they will bailout idiots that made stupid or intentionally bad decisions that destroyed their company and a large part of the economy, and then furthermore with this bailout.

Sept. 25 (Bloomberg) -- More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely

www.bloomberg.com...

It's a shame, a real shame!

www.msnbc.msn.com
(visit the link for the full news article)

This is no surprise.
The government works solely for the corporations.Paid by us to work for them.
Not for the people they were supposedly elected to represent.
Everything they do is in the best interest of the corporate thieves and themselves.
This is just one last ditch effort to steal as much tax payers money as possible.
Before the whole thing collapses.

In about 6 months people will realize that we have just been baboozled. I hope I am wrong.

does anyone know what the bill number is that was passed? I think its important to get the documentation directly from the bill for us to scrutinize.

Thanks,

Camain

this is a bailout not something to turn into a law
if I understand it correctly there's no bill

There sending a document to the president to sign, its a bill of some form. I can't find it on THOMAS, the senate.gov site, or anywhere else.

Camain

reply to post by ModernAcademia

This isn't a bail out; its a stick up! For all the wealth that is being transferred to bankers, the bankers should at least be forced to dance a jig or clean the wind shields of all the tax payers.


[edit on 28-9-2008 by eradown]

reply to post by Karlhungis


The irony of that is that it won't take anywhere near six months to occur. I would say that a fair estimate is two weeks, when the financial indicators start to show that banks are only hoarding this new cash to prop up their balance sheets (and to buy up other failed banks at bargain prices) and not circulating the money to permit new loans. What I think is really happening, is that it's not the financial sector that's causing the credit crunch but the fact that almost the entire population has reached their credit limit. The only difference between America and third world countries over the last 5 years is that the poverty stricken in Somalia or wherever, don't have credit cards.

This $700 Billion dollars will be like the Chinese Olympic divers and disappear into the pool without even a splash. Then the truth will really be known and you're going to see some serious panic worldwide. I don't know what it will be like trying to survive a global economic crash, but I will bet you a wheelbarrow full of worthless money that it will end with the mother of all world wars.

I think Mr Levine has the correct understanding:

``I suspect that part of what we're seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout,'' said David K. Levine, an economist at Washington University in St. Louis, who studies liquidity constraints and game theory.

Source

reply to post by Karlhungis


Ya know what Karl, that's actually a best case scenario.

What I'm FAR more afraid of, is that they WON'T realize it. Judging by the cognitive capability of the American population these days, I'm sincerely more afraid that they simply will just "let it slide", kinda like... ummm....the Patriot Act?


AB1

The below is a MUST-WATCH




And for those saying that the people are too stupid to know what's going on

that's not entirely true
too many are against the bailout but the media ignores these people

Look at these







[edit on 28-9-2008 by ModernAcademia]

One of the best parts of the agreement is that The heads of these companies will get "reasonable compensation". What happened Mr. Dodd?

reply to post by Karlhungis


I agree with you but as you know is the bankign system that controls the Federal reserve the one that manipulates the puppets in Washignton.

The government is being pressured by corrupt money masters to burden the U.S. taxpayer with a $700 billion bailout. Our country is already indebted more than $9.4 trillion. With each passing minute, the debt grows by almost $1 million. We can’t afford more debt. We can’t afford to sit atop a burgeoning pile of IOUs when our foreign financers have the ability to cease funds at any moment, leading to the annihilation of our country. American taxpayers shouldn’t have to pay for the misdealing of these corporate elites who only are concerned about maintaining their lavish lifestyle and stature in society.

Does anybody realy understand who are the masters here?

www.abovetopsecret.com...'

We have been warned for decades about this take over, but nobody wanted to listen.

[edit on 28-9-2008 by marg6043]

I reiterate, can anyone show me that actual bill? Does it say any of the above?

Camain

Originally posted by sickboy1313
One of the best parts of the agreement is that The heads of these companies will get "reasonable compensation". What happened Mr. Dodd?

i think the execuitive compensation/no-golden parachutes was put in the bill to appease the masses..
it's a toothless clause... because the upper management & CEOs et al,
already had previously made 'contracts' as to 'pay'/compensation...
and also seperation pay if terminated..

about all the Congressional points can be for is the sudden rsignations of any CEOs whose companies received any 'bailout ' funds... but as i understand it is that retiring or quitting execuitives cannot receive any more compensation or retirement monies than they already were under contract for,
that doesn't mean that the public won't see multi-million dollar retirement packages...
(and the public will be told to bug off & shut-up)


thanks,

[edit on 28-9-2008 by St Udio]

reply to post by ModernAcademia

And for those saying that the people are too stupid to know what's going on

that's not entirely true
too many are against the bailout but the media ignores these people

Absolutely correct! For instance, on CNN.com today, do you know what the quick vote is? No, it's not about the bailout (sellout), it's:
What is your favorite Paul Neuman movie?
Talk about staying away from bad news!

This bill is a complete sellout of the American people, and the US dollar. For those of us that didn't go in debt over our heads, WE will now have to pay for those that did, and the crooks on Wall Street, will have more money to gamble with. In addition, the bill will have no strict conditions on executive compensation, merely a general phrase like "no EXCESSIVE golden parachutes". When asked what that meant, the response was- we purposely want to keep it nebulous!

All morning. all I saw on TV were the smug faces of Pelosi, Dodd and Schumer, surrounding Paulson, as they strolled together towards the microphone. I hope people remember who pushed this sellout of America when things come crashing down as a result of this travesty. As for McCain and Obama, they said they'd probably vote for it, so a pox on both of their houses. I have decided to write in Ron Paul for President. I won't help elect either of these crooks.

Not everyone is happy with the bailout:

Sen Diane Feinstein, CA

I am told that the reason the Treasury Secretary does not want limits on executive compensation is because he believes that an executive then will not bring his company in to partake in any program that is set up. Here is my response to that: We can put that executive on his boat, take that boat out in the ocean, and set it on fire. If that is how he feels, that is what should happen, or his company doesn't come in.

FLOOR STATEMENT

At least someone is listening to their constituents.

Notice the shift in language, on the bloomberg website. Bailouts is being changed to 'rescue plan'. Also, Bloomberg is guilty of changing Fed. Chairman of Dallas's words around in a speech. Changing words like 'Critical mistake' to less linguistically 'loaded' words, to make his opinions on the bailout plan seem less harsh is criticism.

The media is being twisted to shave the severity of this situation. Do not be fooled.

[edit on 28-9-2008 by Blacknapkins]

reply to post by Blacknapkins


I am sorry but you really need to change your avatar

how can you expect someone to take your post seriously or even spend the time reading while that AV is staring at your face.

Your AV causes more mental horor than the bailout
please change it