Sick, so Sick: now they want to loot (bailout) of $7.7 Trillion

It could pay off more than half the country’s mortgages. (think of it homeowners, half of our mortgages or 50% off everyone's. I could live with that, think of that economic stimulus... how much more money would you have to spend? The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. (See article link and highlights below)

The bailout includes a Fed program to buy as much as $2.4 trillion in short-term notes, called commercial paper, that companies use to pay bills, begun Oct. 27, and $1.4 trillion from the FDIC to guarantee bank-to-bank loans, started Oct. 14.

bloomberg.com...

“Whether it’s lending or spending, it’s tax dollars that are going out the window and we end up holding collateral we don’t know anything about,” said Congressman Scott Garrett, a New Jersey Republican who serves on the House Financial Services Committee. “The time has come that we consider what sort of limitations we should be placing on the Fed so that authority returns to elected officials as opposed to appointed ones.”

‘They Got Snookered’

The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. It’s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office figures. It could pay off more than half the country’s mortgages.

“There is a lack of transparency here and, given that the Fed is taking on a huge amount of credit risk now, it would seem to me as a taxpayer there should be more transparency,” Kasriel said.

Bernanke’s Fed is responsible for $4.74 trillion of pledges, or 61 percent of the total commitment of $7.76 trillion, based on data compiled by Bloomberg concerning U.S. bailout steps started a year ago.

THis is disgusting! That's it!!! They can start paying for this stuff themselves (get your hands outta my pocket!)... And let their sons die in foreign lands (R.I.P. A.H.).

Like I said in another post, we are not a Democracy nor a Republic...

We are a KLEPTOCRACY, wherein they STEAL the peoples assets and give them to their corporate friends or take them for themselves...

If the People would wake the hell up and Tar and Feather their Congressional Representatives that vote for this, I guarantee you that they would stop their crap instantly. Same with the Judges and Attorneys, you get a community to really tar and feather and throw out of town a bad apple, the news would spread like wildfire to all others in those positions that the People have awoken and they are pissed...

The lemmings won't do it, they will take slavery over freedom and poverty for the elite few...

they (politicos/bankers/etc) can do whatever the hell they want because no one will stop them. They control everything; the media, the army, the police...everything.

Who has the cojonas to step up and stop them?

Nobody.

WARRENB: You got a whole website of people with the conjonas... Right here!

........One nation, under ATS. With Liberty and Justice for all!

Originally posted by warrenb
they (politicos/bankers/etc) can do whatever the hell they want because no one will stop them. They control everything; the media, the army, the police...everything.

Who has the cojonas to step up and stop them?

Nobody.

Your right and the worst part of this monetary collapse has yet
to fall upon us.

100's of Trillions in derivatives set to collapse

They have been hiding their bad debts in the OTC market
which is UNREGULATED and UNLISTED electronically.

It a perfect place for their shell game just like Enron and
its 700 shell corps in the Cayman Islands.

This time a lot of ppl jumped on the Kleptocracy band wagon
for the big raid on 401k's and IRA's.

The looting is about to get MUCH worse.

Starred and Flagged !

[edit on 24-11-2008 by Ex_MislTech]