Bush signs $700 billion financial bailout bill, page 1
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Topic started on 3-10-2008 @ 12:32 PM by xmaddness

Bush signs $700 billion financial bailout bill


www.msnbc.msn.com
The House passed a $700 billion bailout of the financial services industry Friday, reversing itself after members who voted to kill the measure earlier in the week came around to a Senate version that offered more protection for individual investors and small businesses.
(visit the link for the full news article)



[edit on 3-10-2008 by xmaddness]


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Mod Edit: Title fixed to reflect original article.
Mod Edit: Breaking News Forum Submission Guidelines – Please Review This Link.


[edit on 5/10/2008 by Badge01]


reply posted on 3-10-2008 @ 12:32 PM by xmaddness
Well, it begins. We are all officially paying off wall street tycoons for their bad tactics. We have officially taken a track that we can no longer look back on. This opens a whole new door of avenues for banking companies looking for uncle sam to bail them out when times get tough (or when their "big plan" goes sour).

This quite possibly could have been the official end of Liberty and Constitutionalism in the United States. It is a sad day when the government PTB pass a bill, even though upwards of 80% of Americans have shown that they do not want this measure to go through. This is no longer a government for the people. It is a government for the elite wealthy class.

To see what is in this bill in its final form, have a look at these links, including:

The 451 page bill itself (.pdf)

Rescue bill 101: What it says

For the more in depth look at it:

See the text of the Emergency Economic Stabilization Act of 2008 (H.R.1424) and more information about the bill

Emergency Economic Stabilization Act of 2008

Much of what has occurred over the past week have caused a lot of people to start questioning just what is really going on in our banking, financial, and government areas. For one, this bill, as pointed out in another thread, is technically "unconstitutional", because the bill is supposed to originate in the house, then go to the congress, not the other way around.

Shortly after the bill passed in the house, the DOW fell sharply from +250ish, to now +100ish, within 20 mins of the bill passing. The dow ended up closing the day at -157.47, so much for putting confidence back in these markets.

Now that the bill has passed, do you believe that this brings about a whole new loophole in the financial markets, setting a precedent that the people will bail out our financial institutions if the need comes around? Will we see this happen again as many economists predict? Is this simply extending the real problem? Only time will tell.

What also annoys me to no end is the addition of the so called "pork" that ended up tacked on to this bill. Here is a short list of it:



  • Increase on limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
  • Extension of economic development credit for American Samoa
  • Indian employment credit
  • Seven year cost recovery period for motorsports racing track facility???????
  • Tax incentives for investment in the District of Columbia
  • Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds
  • ovisions related to film and television productions
  • Exemption from excise tax for certain wooden arrows designed for use by children
  • Income averaging for amounts received in connection with the Exxon Valdez litigation



Simply Amazing...

List of Senators and how they voted

List of House of Representatives and how they voted


Upset at how your Representative or Senator voted?

Write Your Representative or write your Senator and let them know just how you feel.


So, I ask you ATS.

Do you think this bill will change anything?
Do you feel as an American, (or a foreigner looking in), that you are being properly represented in the government.
Could this be NWO pre-planning?



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

[edit on 3-10-2008 by xmaddness]

[edit on 3-10-2008 by xmaddness]


====
Mod Edit: Title fixed to reflect original article

[edit on 5/10/2008 by Badge01]


reply posted on 3-10-2008 @ 12:33 PM by Stormdancer777
I don't know what to think.



reply posted on 3-10-2008 @ 12:35 PM by RFBurns
reply to post by xmaddness



Nope it means the taxpayers foot the bill....via government. And you can bet that there is a funnel where those funds go through that has a "tap" that leads to another vault besides the intent.

Cheers!!!!


reply posted on 3-10-2008 @ 12:43 PM by burdman30ott6
reply to post by MyrTheSeeker



To some degree, yes. His approvals are reviewable and subject to legislative & judicial action. His denials are not reviewable by anyone nor is there any mechanism for requesting reconsideration or outside arbitration.


reply posted on 3-10-2008 @ 12:43 PM by Kryties
reply to post by redhatty



Quite frankly I would almost expect the market to crash sometime in the next few days. While this is bad for the people, it is also vindication and proof that we were right to be worried, right to oppose the deal and...well....just right!


reply posted on 3-10-2008 @ 12:44 PM by marg6043
reply to post by mybigunit



The beginning of the privatization of the Treasury Department by the global banks has started.
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