It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Rejoice Rejoice the $700 billion bail out plan has bee rejected

page: 1
1
<<   2 >>

log in

join
share:

posted on Sep, 29 2008 @ 03:11 PM
link   
Roll up Roll up come see how the media spins this come and take your seats please ladies and gentleman.



Even before the vote, Asian and European markets had plummeted on fears the crisis was spreading, while U.S. regional lender Wachovia became the latest big bank to succumb to the crisis.

And global money markets were frozen even as central banks poured hundreds of billions of dollars into the financial system to persuade financial firms to stop hoarding cash.

"There's a monster amount of fear out there. This is global contagion. It's no longer just the United States," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

The House of Representatives voted 228-to-205 against a compromise bailout plan that would have allowed the Treasury Department to buy up toxic assets from struggling banks. House Republicans, in particular, balked at spending so much taxpayer money just before the November 4 U.S. elections.


This is an almighty win for the little man, but you wait and see the media will really spin this by saying something will have to be done or the entire global economy will fail and we will sink deep into the worst ever recession recorded in history.

6000 billion sheeple see how they run........





[edit on 29-9-2008 by franspeakfree]

[edit on 29-9-2008 by franspeakfree]




posted on Sep, 29 2008 @ 03:16 PM
link   
No one in their right mind should rejoice over this. I state again, most fail to realize how disasterous this would be to mainstreet USa. Pensions worth nothing, credit unable to be extended, jobs lost, crime on rise.

Do the math, this is no cause for rejoicing. Except of course if you are for a one world government in which most of our freedoms will be taken away.



posted on Sep, 29 2008 @ 03:21 PM
link   

Originally posted by TH3ON3


No one in their right mind should rejoice over this. I state again, most fail to realize how disasterous this would be to mainstreet USa. Pensions worth nothing, credit unable to be extended, jobs lost, crime on rise.

Do the math, this is no cause for rejoicing. Except of course if you are for a one world government in which most of our freedoms will be taken away.


What are you saying? use tax payers money to create super banks that swallow up the little banks, to give them more power than they already have? To give 'the powers that be' unlimited free reign? did you read their clause? not a single legal entity could touch them if that bill went through. Please tell me what you are saying?



posted on Sep, 29 2008 @ 03:28 PM
link   
reply to post by TH3ON3
 


That's if anything.. What that is preventing!

We just said "NO!" to the fed!
We just said "NO!" to the government!
We just said "NO!" to the private sector!
We just said "NO!" we're sick of the bull#.

If a one world government was going to come into play, this would have needed to be passed!



posted on Sep, 29 2008 @ 03:28 PM
link   
reply to post by franspeakfree
 


No what I'm saying Fran is that it is going to crash and crash hard. It will be so bad that the PTB will THEN seize the opportunity to exert FORCED martial law or whatever they deem necessary to correct the financial meltdown.

This is part of the nwo plan to really take over. Plain and simple, if you know what is coming, you would be for the bailout. But we will see if what i say coes to pass. It may not yet be time for this to happen, but it looks like it is getting ever nearer.

The irony is that all those who think they are right in being against the vote are wrong. Look at who really defeated the bill, it was the Republicans, take that and think again who really is for the people.

But again, unless you understand what is coming, my warning may not mean anything to you. We will see how it plays out, but I fear the worst.


sty

posted on Sep, 29 2008 @ 03:53 PM
link   
Well, Robin Hood used to take money from the rich and give it to the poor. The rejected proposal was just the opposite - it supposed to take from the poor and give it to the rich . I mean to the very rich. I suspect this rejection was for the benefit of the population. if accepted, the 700 billion plan would only delay the things to come with a few weeks , not solving the root of the problem. As European i can say : you were lucky !


[edit on 29-9-2008 by sty]



posted on Sep, 29 2008 @ 04:00 PM
link   
A spokeswoman for the Federal Reserve said "This wasn't based on any empirical data! We were just going for something big!"

We denied a power play today! Do you not get it?



posted on Sep, 29 2008 @ 04:02 PM
link   
This is good news, the bailout would have destroyed the dollar thus causing a global economic collapse. There is no easy way out of this mess, something has to give. Don't let people fool you into thinking the bailout will fix anything because it won't.


sty

posted on Sep, 29 2008 @ 04:10 PM
link   
reply to post by DeadFlagBlues
 


can you explain it better?



posted on Sep, 29 2008 @ 04:42 PM
link   
There are countless mortgages that these companies have because they were handing out subprime mortgages to people who absolutely could not maintain payments on them (predatory lending). Junk assets. They can't sell them, and everybody has already bought them several times over in the wild west speculation market, where these junk debts are bundled together and sold to someone who shows interest.

AIG who is all tied up in junk debt and is facing bankruptcy of it's own because can't maintain all this credit, junk debt, with no revenue. So, the bigwigs who out of sheer probability have all worked together, and are the actual people responsible for this economic faux pas pressed their friends in government to bail them out like they did Fannie and Freddie. Bernanke seemingly arranged something with Bush Co to introduce the bailout bill that was "imperative!" and after what seemed like two days of deliberation, came out with what would help them "save the day!" Not of the economy, but of their rich friends and customers.

Bush tries to ram the bill through congress and there is immediate opposition to it. It's three pages long, vague as can be, and sums up "Hey, we need like 700 billion dollars.."

Red flags are thrown up, so they the financial committee tackle this and make "so we need like...700 billion dollars or whatever.." Into "We'll give them 700 billion dollars, but with 107 more pages."

This is brought to the house and is shut down after a near even vote. There was huge opposition to the bill from citizens and congressmen were being forced by support to deny the bill, which I believe is where that "swing" vote fell through, not the Bush remarks. Nearing defeat, the FED pumps almost 700 billion of it's own worthless money into the world markets, weakening the dollar and causing increased turmoil at the stock exchange. Forbes breaks a story about how they just "Came up with 700 billion dollars, bro, why you harshin my gnar. We were just goin hella big at your expense, chillax."

The House Republicans and one quarter of the House Democrats dodged an almost 1 trillion dollar at interest, unnecessary debt that the majority of house Democrats tried to usher through. Causing turbulence in the markets (with help to the pricks mucking up the market with inflammatory dollars), but dodging a trillion dollars of meaningless debt at interest for generations of Americans to come.



posted on Sep, 29 2008 @ 04:43 PM
link   
reply to post by DraconianKing
 


This is exactly that! A war on our currency. They're purposely driving it in to the ground!

This is war on us! It is.. Really!



posted on Sep, 29 2008 @ 05:02 PM
link   
The worst part about the whole thing is they expect us to believe that they're going to temporarily relive the credit industry so they can lend money they don't have, and paying us back with junk that after this week, no one would buy.

What part of this plan makes sense to you?



posted on Sep, 29 2008 @ 05:08 PM
link   
reply to post by DeadFlagBlues
 


Meanwhile, at the ranch called the FED, they are lending out $ 620 Billion. They gonna getcha, one way or another...



posted on Sep, 29 2008 @ 05:10 PM
link   
reply to post by DeadFlagBlues
 


The only thing you have said that I disagree with is who is saving us from this plan.

The Republicans didnt turn against the bailout until the people did.

The people are saving themselves from this mess by speaking out against it to their representatives.

The difference you see in the party's response has more to do with who needs to gain the favor of the voters most. Last Friday polls were showing the Dems ahead, and the public opposed to the bailout. The Republicans responded wisely for their own sakes, but that doesnt mean they would not have passed this bailout if we had sucked it up and said nothing.

Dont be fooled into thinking either party is our friend here. We the people are our own best friend, and our own last hope for Democracy.



posted on Sep, 29 2008 @ 05:22 PM
link   
Oh, my friend, believe me, I know! At this stage in the game, they are our enemies. Several of them talked about the outrage they've received. In one of the other threads, I stated that the reasons the Democrats are so pissed their bill didn't pass is because they had twelve Republicans in their pocket at the start of all this madness, and the hundreds of thousands of emails that poured across their table persuaded them otherwise. Re-election is coming up, you know?



posted on Sep, 29 2008 @ 05:26 PM
link   
reply to post by Lebowski achiever
 


That is why I believe this is a systematic attack on our economy! They knew 700 billion would cripple us! They knew it! And as the tides turned against their PR backed bill, they put plan B into action.

Flooding the market with 630 Billion dollars because it wasn't going to happen in congress.



posted on Sep, 29 2008 @ 05:44 PM
link   
reply to post by DeadFlagBlues
 


I am totally agreeing here. I am dismayed at the conjurers trick that is being performed here.



posted on Sep, 29 2008 @ 05:51 PM
link   
Is this part of the NWO plan, Order out of Chaos?

First - 9/11 - Destruction and fear and econemy
Second- war in Iraq - no real reason - Fear and losing money
Third - Economic melt down
Four- rise in crime and disorder
Five -Solution and lost of rights and control on the people.
Six - Global plan to control and secure the world as One.

Are Chemtrails weather changing weapons that cause Hurricans to increase and disasters? Is this part of the plan?

[edit on 29-9-2008 by The time lord]



posted on Sep, 29 2008 @ 05:54 PM
link   
This is the doing of men with no regard for the humanity of their fellow man! It doesn't need a name, we just need to start seeking out these people responsible and hold them accountable for their actions.



posted on Sep, 29 2008 @ 06:02 PM
link   
and all the little congress men and women, rushed home, and began buying up stock at bargain prices, they will come back tomorrow, or in a couple days, once those peasants succumb to the forces exerted.....and pass the bill, and well....reap the reward.
They need to change the way they are presenting this whole thing.

first, ummm....maybe they should tone done the whole idea that this new little branch of government they are creating is unchallengable. five or however many bankers does not make a God....and I even question him.

then well, they are doing such a good job of portraying what will happen if this thing goes through, I am almost feeling like I am being blackmailed. and, well, I can become very stubborn when situations warrent it, and that is one situation that definately does.

I don't buy the claim that my boss is borrowing his payroll everyweek. to buy what they are claiming is to happen, well, you'd almost have to accept that everybody, all the businesses are operating on a deficit and have to just keep borrowing to keep running. if this is the case, well, a trillion or so thrown at the banks isn't gonna help!
I will say this though....
the trucking industry does run on credit though. the truckers use company credit cards when they fill up...
if credit dries up, it might affect the inventory in the stores...
I imagine there are other areas in the economy that also because of their nature have to rely on the banks and credit cards to survive.

I am rather worried about my bosses having all their nestegg sitting in wachovia at the moment though...
that would be sad to see....

by the way
as far as this 777 point loss on the dow today....
how much did it raise the past few days on speculation that this bill would go though?

[edit on 29-9-2008 by dawnstar]



new topics

top topics



 
1
<<   2 >>

log in

join