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Senate Passes Wall Street Permanent Bailout Bill, It's a Job Killer!

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posted on May, 21 2010 @ 10:58 PM
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Senate Passes Wall Street Permanent Bailout Bill, It's a Job Killer!


www.blacklistednews.com

The Senate passes the Wall Street Reform Bill (S. 3217) by a 59-39 vote, if it passes the House it will kill jobs by making it difficult for small businesses to succeed and it will give permanent and unlimited bailout authority for the big banks on Wall Street. It would also do nothing to solve problems in the financial system and won’t prevent the next financial crisis.
(visit the link for the full news article)




posted on May, 21 2010 @ 10:58 PM
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Although this particular report on the bill is biased, it is making it sound like it is helping big business while making things more difficult for small business. It is being called a permanent bail out mechanism, and makes things more difficult for venture capitalists. All that being said, the author of the source article just might be right.

www.blacklistednews.com
(visit the link for the full news article)



posted on May, 21 2010 @ 11:30 PM
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"if the bill passes, investors would need assets of more than $2.3 million (up from $1 million) or income of more than $450,000 (up from $250,000). The third restriction removes the federal pre-emption allowing angel and venture financing in the United States to follow federal regulations, rather than face different rules between states.”

Why? What is their justification for this? This is directly penalizing small businessmen and investors as if it was up and coming local businesses, not already-existing multi-national corporations that caused this mess. Not only that, but with local regulations cut out, it will make it even EASIER for too-big-to-fail corporations to get a stranglehold on the little guy...
How is this happening?

EDIT to change bad spelling and grammar. Doh ><

[edit on 21-5-2010 by mooseinhisglory]



posted on May, 21 2010 @ 11:40 PM
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This Administration and those in Congress are a joke. They are doing their very best to see that this nation is run into the ground. They will be run out in November and 2012, but in the interim they will do as much damage as possible to see their agenda of destroying this nation.

Then it will take awhile to repair the damage done before we can start building her up to the Nation she once was. And when I say that, I mean going back to reign in the federal government and narrow the powers and laws that were given in the constitution. It's either that or we will see it break apart or devolve into a revolution and possibly even a civil war. The US hasn't been so divided as it is now that I can remember. Possibly the 60's were, but this I'm afraid is about a Socialist US vs a Free US. Even Putin warned the US about going toward socialism and that it does not work. Now when an Ex- KGB agent and former President of the old USSR says that, people should wake up to what the left is trying to do. It is unworkable. This administration is absolutely inept and a joke to the rest of the world.

I am just waiting for the inevitable implosion. I really don't see any way to avoid it. Like Greece, what do you think is going to happen when the entitlement programs are unable to be funded and those who think they have the right to a free check don't receive them any longer. With what this administration is doing, the tax revenues will begin to be diminished more and more. They can afford them now. Social Security (which they robbed to pay for other things) in insolvent, medicare and medicaid is basically in the same shape. These unfunded liabilities are not going to suddenly get funded somehow. The people that depend on these programs are going to riot when the bad news comes that there simply is no way to continue these programs.

Anyway, that is just my 2 cents....

[edit on 21/5/10 by spirit_horse]



posted on May, 22 2010 @ 12:01 AM
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It is corporate americas arm extension on us all. this is what happens, when their is NO regualtion, money=power and greed.



posted on May, 22 2010 @ 08:43 AM
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Originally posted by mooseinhisglory
This is directly penalizing small businessmen and investors as if it was up and coming local businesses, not already-existing multi-national corporations that caused this mess. Not only that, but with local regulations cut out, it will make it even EASIER for too-big-to-fail corporations to get a stranglehold on the little guy...
How is this happening?



Thanks to everyone for posting


I can't answer your question on how is this happening. I hope some one around hear can give you a good answer. I just do think what you said is the real problem with the bill. It makes things to hard on the little guy, and much easier for a corp to become to big to fail. This reminds me of the John Perkings quote, "this is all by design".



posted on May, 22 2010 @ 06:33 PM
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That's ridiculous. I guess we can say the end of small businesses and the end of stories about how people with nothing created their own businesses and made millions.

This really will hurt small businesses. WTF.



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