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H.R. 7223: Free Market Protection Act. Have You Read/Heard of This?!

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posted on Mar, 18 2009 @ 12:15 PM
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Hello all,

Was scrolling through the channels last night and ran across C-SPAN and saw a Congressman bring this bill up yesterday when addressing, so i researched it ... It was introduced way back in September of 2008, but got turned down ... If things don't get better this seems like a good alternative instead of another set of bailouts in my opinion ... why didn't they pass this instead?

Here is a statement made by a Congressman who cosponsored it:

I believe our economy will come back, stronger and better even when it hits obstacles. The key is to allow the markets to work themselves out, not be bailed out.”-- Congressman Doug Lamborn (C0-05)

Source

This bill was cosponsored by 52 other people ... Some highlights of the bill include:


- Use privately-funded mortgage insurance to stabilize the market and eliminate taxes on profits earned by U.S. firms overseas, so they will not have incentives to move job overseas

- Schedule Fannie Mae and Freddie Mac for privatization

- Suspend mark-to-market regulatory rules until the SEC can issue new guidelines that will allow firms to mark assets to their true economic value

- Allow banks to treat losses on GSE stock as ordinary losses, not capital losses

- Crack down on fraud

Source



FULL BILL TEXT HERE


I think this would have went over much better in my opinion with the American People, and the Democratic Congress wouldn't have all of the blame on it's shoulders ... what are your thoughts?

[edit on 18-3-2009 by baseball101]

[edit on 18-3-2009 by baseball101]




posted on Mar, 18 2009 @ 12:39 PM
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"Why didn't Congress Pass This Instead of the Bailouts?!"

Jeez... that's simple.
Because they are CORRUPT!



posted on Mar, 18 2009 @ 12:42 PM
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reply to post by mecheng
 


well i knew that, i wish that there would have been more coverage of this bill ... i'm thinking a lot of people in Congress covered it up and kept quiet about it ... because they want the steady flow of "donations" to keep coming in ...



posted on Mar, 18 2009 @ 12:55 PM
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reply to post by mecheng
 


No only that but they were protecting their own private interest and those oversea, as we know many of the fat rats in Washington maintain oversea accounts.



posted on Mar, 18 2009 @ 12:56 PM
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reply to post by baseball101
 


here here!



posted on Mar, 18 2009 @ 01:35 PM
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Originally posted by baseball101
- Crack down on fraud

what are your thoughts?


My thought is that cracking down on fraud wouldn't go over very well with the few hundred rich white guys who are committing the fraud.



posted on Mar, 18 2009 @ 01:57 PM
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Originally posted by theWCH

Originally posted by baseball101
- Crack down on fraud

what are your thoughts?


My thought is that cracking down on fraud wouldn't go over very well with the few hundred rich white guys who are committing the fraud.




Being white has nothing to do w/ it. Don't forget Obama isn't white and he's the leader of the continued corruption. Look at his appointees.

[edit on 18-3-2009 by Protostellar]



posted on Mar, 18 2009 @ 02:03 PM
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I'm white. I never said that being white had anything to do with it. Being a man doesn't have anything to do with it either. It was purely descriptive. In case we ever get confused we look in the mirror go "Nope, I'm not (this attribute), so I'm definitely one of the people who are getting screwed!"

And if you want corruption in politics, the career Senators are the ones to start your investigation with. In all honesty though, the President works for the banks. Historically, Presidents who take on the banking interests don't tend to fare too well. It is what it is.

[edit on 18-3-2009 by theWCH]



posted on Mar, 18 2009 @ 06:14 PM
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Touche. Sorry, I completely misread your statement. Please accept my apology for the lameness.



posted on Mar, 18 2009 @ 06:59 PM
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reply to post by baseball101
 





OK....
but there has to be a conspiracy underlying all these maschinations


Here is one 'nitty-gritty' one...
The Fed - along with compliant minds in the Treasury (hmmm, let's see...
Oh!... Geithner)
Geithner, ex-NY Fed leader/ former Treas. Sec. Paulson ex-CFO @ 'GS'

hey... how can the bankers subdue the government?
make it impossible for gov't to operate--- take control of policy making
(which gov't and capitalistic democracy have long been screwing up)

The bankers are in the process of 'taking-over-the-authority' normally
granted to elected leaders.
by concentrating the power-of-the-purse to the banker cabal of banks
which we know as the 'Primary Providers'...under the tutelage of the tandem team of Fed/Treas...
all policy-making and the direction of 'Resources' can be both directed to or withheld from Sectors of the economy and Strategic profile... of the once war-like USA.


The banker cabal, has some sort of idea that they will usurp the power & authority of the normal 'Branches' of the USA Democratic-Republic...
because they Know better than the Representatives or the masses who elected them.

The Coup is underway




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