*Heads Up* Bill Coming This Week To Weaken States' Rights, page 1

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Topic started on 13-5-2009 @ 10:07 AM by Iamonlyhuman

Bill Coming This Week To Guarantee Entire Muni Market

Fox Biz is reporting that the House Financial Services Committee is set to take up legislation this week that would establish a federal backstop for all Municipal bonds and muni insurance. This would, of course, represent another massive expansion of the government's guarantees and turn all states into Fannie and Freddy.

* Create a liquidity facility through the Federal Reserve to purchase municipal bonds, much like what the Federal Reserve does with mortgage-backed and federal government bonds.

* Form a temporary federal government program to reinsure municipal bond insurers. Almost all municipalities buy bond insurance because it boosts their credit ratings. The cost of the insurance is usually lower than the higher interest payments that come with a lower credit rating. If the insurer runs into financial trouble, then the credit ratings on the municipal bonds drop because there is doubt about the insurance. Government backing would eliminate that concern.

* Provide additional regulation for financial advisors to municipalities. Many, including former Securities and Exchange Commission Chairman Arthur Levitt, have been calling for stronger oversight of the municipal bond market in the wake of pay-to-play bond scandals, in which banks and advisers have made gifts or political contributions, and received financing jobs along with the fees for those jobs.

So, what happens when all municipal bonds are insured by the federal government? The federal government then has leverage to make the municipalities/states do what they want them to do in other arenas. How many times recently has the federal government threatened to turn off $$ if states didn't comply with their wishes?

This is bad. The federal government should not have their fingers in this pie! This is akin to the federal government turning states into drug whores where the drug is $$$$.

reply posted on 13-5-2009 @ 10:46 AM by Maxmars

Barney Frank and his crew are employees of the Fed. This is the same process by which they destroy sovereignty world-wide.

Of course, in America, the states presented an obstacle. So now our so-called ''elected representatives' will vote on this.... whom do you think they will 'represent'? You? Me? or the Fed?

I hope we still have real live governors in this country who care about their states. I'm sure there are a few, but I doubt the Senators and Congresspersons can be counted on anything other than instant and immediate compliance with the "party" line - i.e. they vote as their party leaders tell them to vote. What the people WANT is an irrelevancy.

They already know what they are going to do. The rest is just showbiz.

reply posted on 13-5-2009 @ 10:50 AM by marg6043

While the whores are all ready bought, sold and paid for, I can not wait to see the states that will deny this new bill to hit their door steps.

Those states are the ones that will make it to my favorite list.

Because remember this will work as long as states are compliant.

reply posted on 13-5-2009 @ 11:16 AM by Anonymous Avatar

For f*s sake. They have no bounds, take over corporations, and now an attempt to take over the states?

The constitution of the United States of America might as well just be stamped Null and Void if this happens.

reply posted on 13-5-2009 @ 12:25 PM by Champagne

reply to Iamonlyhuman
How many times recently has the federal government threatened to turn off $$ if states didn't comply with their wishes?

This is bad. The federal government should not have their fingers in this pie!

The feds are out to stop the march to sovereignty the states are starting to display. Do you not think the feds are concerned over what alot of states are proposing to do?!?!?!?

reply to marg6043
I can not wait to see the states that will deny this new bill to hit their door steps.

Those states are the ones that will make it to my favorite list.

Because remember this will work as long as states are compliant.

I live in Texas and cannot imagine this being allowed!! My hope is that states start giving $$ back to the feds so they can start running their affairs the way each individual state sees fit!!

The government has held states hostage for decades holding $$ over their heads - do thisd or no money!! Time for states to say NO and let their citizens take care of business for themselves. I believe this was one of the intents of our Constitution - it is not?!?!?!?

Screw the feds!!!! POWER TO THE STATES!!! It is time to stand on our own and stop the feds blackmailing us! BACK TO THE CONSTITUTION!!!

Sorry for my ranting......I am just so sick & tired of the federal government!

[edit on 5/13/2009 by Champagne]

reply posted on 13-5-2009 @ 05:35 PM by Iamonlyhuman

Originally posted by Maxmars
Barney Frank and his crew are employees of the Fed. This is the same process by which they destroy sovereignty world-wide.

Of course, in America, the states presented an obstacle. So now our so-called ''elected representatives' will vote on this.... whom do you think they will 'represent'? You? Me? or the Fed?

I hope we still have real live governors in this country who care about their states. I'm sure there are a few, but I doubt the Senators and Congresspersons can be counted on anything other than instant and immediate compliance with the "party" line - i.e. they vote as their party leaders tell them to vote. What the people WANT is an irrelevancy.

They already know what they are going to do. The rest is just showbiz.

I hope my state, SC, will oppose this. I know the governor will, he's the one who is still taking political flack over not taking all of the stimulus money because it would not be good for the state. We've also passed a states' rights resolution. Hopefully, this streak of statehood will hold... for us at least.

Edit to add: as far as congressmen go though, Lindsay Graham is my congressman and I seriously doubt he will object to this... even though he's a republican, he's been so suck uppy lately... makes me sick... he's being groomed to run for president.

[edit on 13/5/2009 by Iamonlyhuman]

reply posted on 13-5-2009 @ 05:49 PM by xstealth

Originally posted by Iamonlyhuman

I hope my state, SC, will oppose this. I know the governor will, he's the one who is still taking political flack over not taking all of the stimulus money because it would not be good for the state. We've also passed a states' rights resolution. Hopefully, this streak of statehood will hold... for us at least.

[edit on 13/5/2009 by Iamonlyhuman]

Your governor is the same one who attended Builderberg last year. Everything he has done recently has been a publicity stunt. I think you'll be seeing him run for president the next Election.

Hes not on your side.

reply posted on 14-5-2009 @ 05:31 AM by Iamonlyhuman

Originally posted by xstealth

Originally posted by Iamonlyhuman

I hope my state, SC, will oppose this. I know the governor will, he's the one who is still taking political flack over not taking all of the stimulus money because it would not be good for the state. We've also passed a states' rights resolution. Hopefully, this streak of statehood will hold... for us at least.

[edit on 13/5/2009 by Iamonlyhuman]

Your governor is the same one who attended Builderberg last year. Everything he has done recently has been a publicity stunt. I think you'll be seeing him run for president the next Election.

Hes not on your side.