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.
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:
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
Not one yah voter for this 403 page pile of cr*p will get my vote in November. I don't care what party they are from, what their stand is on any
other issue. Their blatantly ignoring what the people wanted is enough to make me vote for anyone but them.
Disgusting.... this nation is officially the Corporate States of America. No matter how much the people complained and did their duty the government
still did no listen. Oddly enough the market has been dropping...go figure.
BTW ask me if Im going to pay my taxes this year or the next?
As far as I'm concerned, this just adds to the TREASON all of these individuals have BEEN guilty of against this nation, and it is now time to invoke
lawyers and start up trials. These treasonous criminals, and their even BIGGER criminal puppet masters--Wall street fraud profiteers---MUST be tried
for their crimes and sentenced. This extortion of the populace is the final straw. It is time for EVERYONE to take a stand. Our very lives, and the
lives of our childrens, ad infinitum, depend upon it.
It's clear that our reps in the House and Senate do what they want to do even if they get millions of emails telling them to vote otherwise. It's
time to force a new government. They don't represent us and our interests anymore.
When their wall street friends need money, it's there. When the middle class can't afford gas or their home mortgage, they don't blink an eye.
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.
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!
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