posted on Sep, 29 2008 @ 09:57 AM
I agree this will open up a new era of working and living outside the current fixed rigged system, for most people they will be very unhappy when they
realize they need to start growing their own food and living on less services, less dependency on the government and I think that will encourage
people to be more responsible and we have to care for each other and stand up to those that want to seperate us and make us fight with each other.
I read this bill in the early morning hours and let some time sink in before I decided to mention a few things.
First this creates layers of governance structure that actually slow and prolong the bleeding, which in my opinion just makes this collapse slow down,
since these people ran it up in so few years they now want to control the collapse, but I think it maybe to late, we are watching it reverberate
around the world and through banks that existed for 100 plus years. We are in uncharted waters here and any FAST action could screw it up worse since
these people did things to cause this so they most likely not capable of fixing this. This seems like it will appear intergenerational....debt being
transfered to the children of the boomers....here kids you figure this mess out we want to retire now, so maybe you can figure this out, we give up. I
think this also means further consolidation until it blows over, but maybe this could become a permanent reality of this century, and we will likely
look outside to find blame for the pain we will feel, they the (politicians) will use this to channel the anger into a war of some sort, I hope not,
but if you think Iraq was bad, I really can't imagine what WWI and WWII would be like in world of advanced tech and WMD's. It makes me sick to think
that they think this will stop this massive iceberg from sinking us.
They will establish a Troubled Asset Relief Program.
Give powers such as c) NECESSARY ACTIONS.—The Secretary is authorized to take such actions as the Secretary deems necessary
That seems fairly amazing.
Another group called...FINANCIAL STABILITY OVERSIGHT BOARD
And guess who runs that? The people that brought us to this crisis? Are they crazy?
1 (1) the Chairman of the Board of Governors of
2 the Federal Reserve System;
3 (2) the Secretary;
4 (3) the Director of the Federal Home Finance
6 (4) the Chairman of the Securities Exchange
7 Commission; and
8 (5) the Secretary of Housing and Urban Devel9
The chairperson of the Financial
11 Stability Oversight Board shall be elected by the members
12 of the Board from among the members other than the Sec13
The Federal Reserve decides who regulates themselves?
Then they create something called a Credit Review Committe that they appoint to oversee there actions.
The most Orwellian part then comes up right here...
STREAMLINED PROCESS.—For purposes of this
22 Act, the Secretary may waive specific provisions of the
23 Federal Acquisition Regulation upon a determination that
24 urgent and compelling circumstances make compliance
25 with such provisions contrary to the public interest.
"URGENT AND COMPELLING CIRCUMSTANCES" if they find that they need to hurry up they can change the rules and say it was needed to protect the
Well, maybe it will get shot down for a change in the house and never make it to senate, I've heard it can't pass the House come out of a few
politicians mouths, something like 60 plus percent against this bill, if McCain wanted to be president he would get on the side of the voters, I'm
starting to wonder why either one would want to inherit a mess such as this? Would you want to be a President or Senator at atime when things are
looking this bad? I know I wouldn't want the job, maybe they will both try to mess up their own campaigns, maybe that was why McCain tried to cancel
his. To be honest I don't see why he would want to be president now, and Obama must be just plain power hungry if he still wants what appears will be
a depressed economy.