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Emergency Economic Stabilization Act of 2008 (FULL TEXT)

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posted on Sep, 29 2008 @ 10:33 AM
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I just walked outside and turned MY American flag upside down (in Distress). I think we have reached the breaking point in American History and we very well may see some of the worst years in American History. We for sure have witnessed some of thee worst lawmakers and cabinet members in American History. I think we at ATS need to start looking at getting Lobbyists. We need to start our own Party or special interest group. ANYONE AGREE?




posted on Sep, 29 2008 @ 10:36 AM
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reply to post by Alferd Packer
 


Oh, it's going to be hell. Just be strong and be the best person you can. Being sad and fearful aren't going to make this situation better. Remember that this is our country! We have to show them our teeth in dominance! Not fear!



posted on Sep, 29 2008 @ 10:39 AM
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reply to post by TH3ON3
 


As the national debt keeps rising the dollar will be hard to sell to our lender the Asian Bankers that are the ones that are buying our debt.

That is how this crocks in Washington plans to get the 700 billion dollars from.

America doesn't have a vault full of cash money ready to be taken to pay for this bill

The money will come from countries like China and Japan.

If this countries say no to the borrowing we are going down the crapper with bill or not bill.

Right now the Asian bankers our lenders are very worry about this bill as they see it as making the dollar weaker that already is.

What the fed wants is to infuse the markets with fake liquidity, Already they infused 900 billions that didn't make any difference to the markets.

Now they want a blank check, and the hidden debt still unaccounted for is been speculated to be in the 7 trillions of dollars as more foreign banks will be bailed out with our tax payer money

How can this help our nation's citizens and tax payer?

It doesn't.



posted on Sep, 29 2008 @ 10:40 AM
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reply to post by TH3ON3
 


Paulson and Bernanke have been SO WRONG in everything they have said up to date. What makes you think they will be right about this.

Why don't we take a look at two people who have been right so far, and what they think about this bailout.

Here's what Meredith Whitney who has been very accurate in her analysis over the past year and a half.

Taxpayers will be losers in bailout plan:Whitney

Taxpayers will lose money in the $700 billion government rescue plan for the nation's banking system, Oppenheimer analyst Meredith Whitney said.


Here is what Nouriel Roubini has to say.

Source


In a solvency crisis and credit crisis that goes well beyond illiquidity no one is lending to counterparties as no one trusts any counterparty (even the safest ones) and everyone is hoarding the liquidity that is injected by central banks.


If you don't know who Nouriel Roubini and Meredith Whitney are you should read up on them and how accurate they have been about the crisis.

There is nothing in the bill that I have seen that requires the benefactors of it to resume lending. They are hoarding the liquidity that CBs have injected into the system. One of the greatest dangers to this bill is that after they unload their crap onto the taxpayer they don't resume lending. There is no guarantee that this will staunch the crisis. It is too rushed, to big ( and paradoxically not big enough), and to weighted toward wall street to support.

If this doesn't work, and I have just sighted two experts who say it won't. Then the government is 700Billion poorer in any actions it may take to preserve itself for what is coming.



posted on Sep, 29 2008 @ 10:42 AM
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reply to post by TH3ON3
 


Because this is not a liquidity issue! It's a capital issue! They push $700,000,000,000.00 in the market, it's going to cause hyperinflation, and the dollar will be worthless. As they are bailing out those institutions with money that will temporarily float them so they can "give credit," they are destroying the dollar and perpetuating the problem that is at the origin of this issue.

Here is a scientific representation of the Bailout Bill.




posted on Sep, 29 2008 @ 10:45 AM
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It really doesn't matter to me, I'm just telling it as I see it. I understand it will all come crashing down eventually even with the rescue, but at least it will be staved off for a few years more.



posted on Sep, 29 2008 @ 10:46 AM
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reply to post by jefwane
 


We can look at the experts and we can see that they are right on the spot about the failure of this bail out.

We can also see that here in ATS we have been talking about this mess for years and we also can come to the conclusion that it will not work out.

I think people think that US has a vault full of gold and cash that belong to the nation and the tax payer to be use for times like this.

Our Federal reserve never has been for public use or the benefit of the tax payer, and has never been the property of the government and the tax payer.

The federal reserve is the biggest scam created to rob the tax payer money from under the tax payer noses for the benefit of bankers so they can sell it back to the tax payer as loans.
to be paid with interest.



posted on Sep, 29 2008 @ 10:47 AM
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reply to post by DeadFlagBlues
 



I disagree, the dollar was destroyed long ago when thewy stopped backing it with a tangible commodity like silver.



posted on Sep, 29 2008 @ 10:50 AM
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reply to post by TH3ON3
 


Actually you are right but also during the Nixon era our gold was substitute for oil that is when everything started to go down the crapper as US stop been a big producer of oil and the oil dependency started.

Until this day petrodollars are the dominant way of doing business.



posted on Sep, 29 2008 @ 11:02 AM
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reply to post by TH3ON3
 


I know that.

Maybe I should have used "obliterate the value of the dollar."




Peep this!



posted on Sep, 29 2008 @ 11:03 AM
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reply to post by marg6043
 


Oil dependency


We're sitting on one of the largest oil reserves in the world, and it's nowhere near Alaska.



posted on Sep, 29 2008 @ 11:04 AM
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reply to post by TH3ON3
 


And TH3ON3, I don't think we're talking years, here. I think the timeline is much more dire than that, especially after the fact. It doesn't take long for that money to dampen the spending power of the dollar.



posted on Sep, 29 2008 @ 11:14 AM
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Well in the news they are talking about congress getting nervous because the amount of citizens calling and E-mailing is overwhelming in opposition of this bail out bill.

Hurraaaaaa



posted on Sep, 29 2008 @ 11:27 AM
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Money is a faith based system. Gold, Silver, are only worth the value people put on them, heck that goes for everything material.

What do you value these days?


Where has our value system gone? Money, credit, oil?

We do not value things that matter anymore its work, work, FU don't have time for the people that matter in our life.

We have become detached, most people here know what I am talking about.

Maybe we can use this as a renewal process.

[edit on 29-9-2008 by Realtruth]



posted on Sep, 29 2008 @ 11:42 AM
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Here, have fun looking at this:



Full Image.

Ouch!

[edit on 29-9-2008 by loam]



posted on Sep, 29 2008 @ 11:44 AM
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This thread should take up the entire screen of the ATS and board homepage. Who do we contact to get that done?

Pelosi was just on Cspan selling this thing as if this bill is the best we can do. Did I really see what I just saw?

Everybody who pointed out the fatal flaws in this hidden in plain sight bill should mail these findings to Jack Cafferty at CNN. He reads emails aloud during the Situation Room w Wolf Blitzer. I didn't hear a word from Pelosi on the rape by the insiders still present here.

[edit on 29-9-2008 by massexodus]



posted on Sep, 29 2008 @ 11:46 AM
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You want this?

conflicts-of-interest provision:

"(a) STANDARDS REQUIRED.— The Secretary shall issue regulations or guidelines necessary to address and manage or to prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this Act, including—

(1) conflicts arising in the selection or hiring of 18 contractors or advisors, including asset managers;

(2) the purchase of troubled assets;

(3) the management of the troubled assets held;

(4) post-employment restrictions on employees; and

(5) any other potential conflict of interest, as the Secretary deems necessary or appropriate in the public interest."

Talk about foxes guarding the hen house!

or this

Section 135. Preservation of Authority.
Clarifies that nothing in this Act shall limit the authority of the Secretary or the Federal Reserve under any other provision of law.

Whose wings do they need to clip if not this guy?

Check the detail



posted on Sep, 29 2008 @ 11:54 AM
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We Are Under Martial Law! As Declared By The Speaker Last Night! Rep Burgess
www.youtube.com...://www.hillaryclintonforum.net/discussion/showthread.php?t=32532



posted on Sep, 29 2008 @ 11:56 AM
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reply to post by Stormdancer777
 


I can't see YouTube from here, but I don't think the Speaker of the House has the authority to declare national martial law... I'm thinking this was some metaphoric hyperbole...



posted on Sep, 29 2008 @ 11:56 AM
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Originally posted by Alferd Packer
I just walked outside and turned MY American flag upside down (in Distress). I think we have reached the breaking point in American History and we very well may see some of the worst years in American History. We for sure have witnessed some of thee worst lawmakers and cabinet members in American History. I think we at ATS need to start looking at getting Lobbyists. We need to start our own Party or special interest group. ANYONE AGREE?


thank you I will do the same.



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