New Bailout Change = Everything We Said Would Happen

Do you remember the fuss here on ATS a few months back about the bailout?
Everyone said that the bailout would cost more us more than $7,000,000,000, and they were right:
Bailout Tag Price Currently at $3.5 Trillion
Forbes predicts it to get to $5 Trillion:
Forbes Source
All of this tiny compared to the $2 Trillion the fed wont identify:
FED refuses to identify $2 Trillion of bailout money

And then the election happened.
And focus on ATS switched... I wonder if that was planned?
The election was a fantastic distraction. Bravo.

Now little news pieces, such as the ones above are starting to pop up.
While ATS members are making a big deal of it, the rest of the world isnt, still distracted by the historic election.

BUT NOW, I want to bring you a new discovery, that to me is so shocking and so blatant, that there should be no doubt to never trust what the govt tells you they are planning for your money.

As of yesterday, the already approved Bailout Bill has been changed.
Thats right.
The original Bailout plan is no more.
WHAT!?!?
Wouldn't that mean its now another bill all together and should be voted upon to get approved?
Nope, apparently they don't need to.

So let me introduce you to the what the new Bailout Bill will be used for... that is, after we've already used so much money in the first place:

When Congress OK'd the bailout package, they all told us it would be spent buying troubled mortgage assets.

That's what Congress voted on. That's what Congress approved.

Now, Paulson says it would be better for the economy if he uses the money to buy bank stocks as a way to help their balance sheets so they are more likely to lend you money for a car or student loan or credit card.
SOURCE

You can watch Secretary Paulson's speech here: Video

This is [insert swear word here ending with "ing"] INSANE!
How the hell can switching the plan to cost more money just to create more debt, ie Credit Cards and Loans, going to help the US people!????

We are being run aground.
How can ANYONE now say the US isnt trying to destroy middle class America?

Watch the video. Tell me thats a genuine man telling this for our own good...
I'm almost on my edge here... I honestly don't know what to say, or do...

Good Bye America... I dont know whos on our side anymore...



[edit on 13-11-2008 by Odessy]

Don't forget the little tax break they snuck in there, while everyones eyes were on the bailout ball. The one the administration unilaterally repealed, giving tax breaks to Companies when they buy other banks/financial institutions/business'.

And now yesterday paulson admits they're not buying illiquid assets just investing. What are the companies doing with the money? Oh that's right taking advantage of the new Tax Loophole. Somebody needs to hang from the gallows, this is outright treason.

reply to post by djpaec


Your absolutely right.

And what gets me even more is that there is nothing we can do about this.
The majority of the people have no idea whats going on around them. They are so distracted by football, tv shows, and the latest fashion that as long as they can get that new credit card, they are happy.

No, there will be no rally.
No, there will be no uprising.
Not until its too late...

infuriating it is

reprisals there will be

yoda not I am

Last I heard it was up to a possible $5 trillion now...

Washington on the Hook for $5 Trillion

According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system.

..and I'm betting we'll end up holding the bag..

i am totally outraged. (long pause. i am editing)

it is hard for me to put into words that can be said here on ATS, how this is pissing me off. not only will they not tell us who is getting money. now the bailout is growing by leaps and bounds. more and more money that working America does not have.

tell me if i am wrong. aren't you suppose to steal from people who have and not from the have nots? i do not understand.
(my poor keyboard is getting a beating. pause. deep breath)
and then to find out all these suits are having these great parties and bonuses with the "have nots" dollars. AND we are not even invited.
ok. i got to go cuz it is getting too hard to edit myself.

I've been protesting this so called "Bailout" since before it was passed..
I even did a video..
It's a trick folks, brought to you by your OWN goverment..

www.youtube.com...

I'm with you...

Its RIDICULOUS!

One of the biggest outrageous acts of our time and we had and have NO say in it.
This could, imho, turn out to be one of the biggest outcries in American History.

Please Flag this so we can open up everyone on ATS to this...
It would be a start.

I dont think anyone can debunk these actions of the state.

Obviously the bail out package contained broad leeway for change at the governments discretion. This is very troubling.

I'm sure they would have us believe it will help the economy by allowing us to buy more goods on credit. I hope we do not succumb to that notion.

An experience I had this week explains one of the problems that brought our economy to this point.

My oldest grandson and his wife asked me to go with them to find a home and secure a loan. With heavy heart I went along.

They could not afford a normal home so they decide on a double wide modular home. The salesman talked them into applying for a loan and said it did not matter that my grandson was the only one working and his wife kept their child while he worked.

I sat quietly and listened to this ( insert bad word) salesman tell them it didn't look good but he would work with the figures and make it work.

When I added up grandsons expenses they could not pay the amount each month that I came up with. They would have to sell their car, stop eating and stop buying diapers and food for their infant.

Is this not what got us in trouble in the first place? Ignorant consumers and greedy businesses.

Oh yes i almost forgot, that (bad word) salesman even wanted my grandson and his wife to lie about their income.

So, what is going to happen to us that live within our means? The ignorant consumers are not going away and the greedy business people are not either.

If I speak up now and tell this couple what a foolish move it would be for them to take this home loan I will be the bad person. Well.I've been a balloon buster many times in my life I feel it is my duty to try and help them come to a better understanding of what is happening.

May God help us all as our government is not.

Edit for spelling and to add>>>

[edit on 13-11-2008 by dizziedame]

reply to post by MissysWorld


I'm with you too Missy...
Many of here protested the bailout before it passed...
But I cant help but think it wouldnt have mattered if we rallied, we dont make the decisons anymore, and i dont fancy spending the rest of my life in a cell...

When did that guy from the future say Russia would nuke us? John Titor? Never believed in him, but now I hope it's true. This country needs to be destroyed and from the top.

I'm going to quote the 'terrorist Bill Ayers he had the right sentiment.

Kill all the rich people

They obviously despise the middle class, and want us to be slaves to our debt.

Is all a scam that now has turned into a scadal.

I am going to post a link to something I posted on another thread because I feel that people needs to know how the biggest scam in the history of this nation was actually concoted.

Read on this thread, that even when it's about oil prices and Iraq it seems that everything from the bail out, to the recession and the oil prices has the stamp of Goldman Sach on it, and lets no forget who is managing the bail out money from behind the scenes.

www.abovetopsecret.com...'

Originally posted by Odessy
reply to post by djpaec

 

Your absolutely right.

And what gets me even more is that there is nothing we can do about this.
The majority of the people have no idea whats going on around them. They are so distracted by football, tv shows, and the latest fashion that as long as they can get that new credit card, they are happy.

No, there will be no rally.
No, there will be no uprising.
Not until its too late...

I have to agree and disagree. I agree that we will not act until it is too late... to late to save this broken fiat currency system anyway, but it's never too late to put an end tot his once and for all. I also disagree that there is nothing we can do. There is and it is provided for under the Constitution - REPLACE THIS CURRENT GOVERNMENT WITH A NEW FORM OF GOVERNMENT!

Revolution is in the not too distance future. Prepare!

Originally posted by djpaec
When did that guy from the future say Russia would nuke us? John Titor? Never believed in him, but now I hope it's true. This country needs to be destroyed and from the top.

I'm going to quote the 'terrorist Bill Ayers he had the right sentiment.

Kill all the rich people

They obviously despise the middle class, and want us to be slaves to our debt.

Don't worry, the country is already destroyed. It's just a matter of time. The only way a nuke will come into play is if the powers that be see that the people are coming out of their stupor to see what is really happening. That is when a nuke will be used to scare teh bejesus out of everyone and force them all back into their shells of control.

It's all about GREED. Period. Every single problem you can see on this planet boils down to greed. The people that have 90% of everything want to have 99% or 100%. They are simply greedy. They already have way more than any single person could ever need but they insist on playing this game that they invented thousands of years ago. It's all fun for them. They feel their blood is richer than ours so it is their right to play this game with people's lives.

Well, they're going to piss off one too many people and the tipping point will be reached. Their game will come to an end and they will be on their heels as the masses take back what is rightfully theirs.

This is what I see happening. Not a prediction. Just common sense.

Originally posted by kozmo
Revolution is in the not too distance future. Prepare!

I really hope your right...

I'll be there.

And I'm sure that statement put me on some green lit watch

I believe that our government is well aware of the power of the people and that before the people raises in anger the fat rats will be already long gone with all the tax payer money that the fed and paulson could steal before then.

Even our biggest lender the Chinese has warned their own banks to stop buying American debt

www.reuters.com...

Even Robert Reich, an adviser to President-elect Obama, calls it a “mini-depression,” and that designation might be optimistic.

Our new president is to inherit the second great depression in America.

The growth of debt has outstripped the growth of income to such an extent that an increase in consumer credit and bank lending is not possible. Consumers are overburdened with debt. This fact takes monetary policy out of the picture. Americans can no longer afford to borrow more in order to consume more.

.

www.economyincrisis.org...

Then one of the original problems to be fixed with the bail out was how to keep homeowners in their homes.

Guess what are the figures for this end of the year and next.

Moody's Economy.com forecasts that even with loan modification programs, 1.6 million Americans will lose their homes this year either in a foreclosure or a distressed sale, and another 1.9 million are projected to lose their homes in 2009.

A recent survey of leading economists by Bloomberg News painted a very bleak outlook for the near future of the U.S. economy, finding that the current recession will be the longest in three decades.

www.bloomberg.com...

While Wall street reaps the benefits of the tax payer money give away main street is falling in decay.

I'm not the least bit surprised that the bailout is a huge screw over, we all new that from the get go.

What amazes me is how many cowards actually supported the people who voted for this bill? I'm talking about McCain, and everyones new favorite saviour, Obama.

It's like I always say......Democracy doesn't work when Liquidsmoke isn't the only one voting.

It amazes me how many americans vote for people who's policies adversely effect them. It was the same thing with Bush. Are americans just gluttons for punishment?

oh...if you are ticked off now, don't read this...

www.washingtonpost.com...

Yet for all this activity, no formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed, though the initial deadline has passed.

no they don't have to answer to bloomberg, or us citizens, and well....come to find out, they've been so busy throwing this money to their friends....they have come up with any kind of oversight whatsoever yet even...

by the time they get to that part, well the money will be gone, and then they won't have to worry about such trivial aspects!!


as far as I am concerned....
I paid for my medical care, I paid for my mortgage, I paid for everything....at the office, when they took my taxes out!!

This isn't a surprise at all. The worst part of the orginal bill wasn't the plan itself, but the little bit about giving these morons supreme power in deciding what to do. Now they can do whatever they want. Checks and balances? Nope. How in the world did they decide that giving this guy and his team supreme power over the money was a "good idea?" in the first place?

reply to post by dawnstar


exactly.

I wont be filing an income tax report this year.

What you make at your job, after they take out taxes, is yours to keep.

Its an even exchange, a trade, your services for your money.

They can't, and are not supposed to tax, even trades. Only profits. Work is not a profit.