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Republicans craft bill to prevent IMF bailout of eurozone that could cost the US $176B!

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posted on Dec, 2 2011 @ 10:29 AM
Hell yeah! Finally the ``conservatives`` (which they are not) are doing something right.

Conservatives craft bill to prevent IMF bailout of crumbling eurozone

Conservatives say they will try to block the International Monetary Fund from bailing out Italy and Spain, which they say could leave U.S. taxpayers with a huge bill.

Republicans on both sides of the Capitol complain that the Obama administration has refused to share details of what Treasury Secretary Timothy Geithner is discussing with European leaders amid reports the IMF could intervene.

Sen. Tom Coburn (R-Okla.) says he is planning legislation directing the U.S. government to veto an expanded role for the fund.

Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.), a member of the House Republican leadership, also have legislation to curb the proposed intervention.

“I’m adamantly against the IMF being involved in this,” Coburn said.

“We’re throwing good money after bad down a hole that I think is not a solvable problem,” he said.

“Europe is going to default eventually, so why would you socialize their profligate spending,” he added.

Coburn estimates the U.S. could be liable for as much as $176 billion if the IMF shores up Italy and Spain and the European Union collapses.

Hell yeah. Now I won't hold my breath for this to pass or for Obama to not veto it if it passes, but still.
edit on 2-12-2011 by Vitchilo because: (no reason given)

posted on Dec, 2 2011 @ 10:48 AM
Whats a few billion when we have been giving away trillions............ Silly boy that is pocket change

posted on Dec, 2 2011 @ 04:53 PM
Our nation is crumbling away before us. I hope the police and soldiers will wake up.

posted on Dec, 2 2011 @ 05:13 PM
This new attempt of the corporate elite specially the banking system and financial institutions all up to their neck in the mess with the central banks in the EU specially behind the Fed and the IMF, because people understand that no matter how the government sugar coat the IMF and Fed link, the FED is the IMF, how is works I know but do you?

Yes if the Fed doesn't step in to bailout again the EU the EU will collapse and so most of the Wall Street financial institutions again.

So the government our "elected corporate run government" is powerless when it comes to the dealings of the FED, because while we know how much is the quota of the US in the IMF through the FED the money tag is much bigger and we do not have know for how much more.

So the bailout will go, regardless that our own corrupted government can not even fix the national debt and compromise, they are to fix the debt in the EU But be aware that this just to buy more time, because no amount of money is going to stop the increasing debt.

The so call act of political interest on the tax payer coming from the Republican is nothing but a gesture to make themselves look like they care for the people, guess what, is a lie they are as much in Wall street pockets as the Democrats and loving it, because those inside trading are making our congress whores wealthy beyond words, so what they care what the littler man and working slave endure in this nation, no a darn thing

edit on 2-12-2011 by marg6043 because: (no reason given)

posted on Dec, 2 2011 @ 05:22 PM
I'm sick and tired of ll these "bailouts".

they keep telling people "we need to do this" for whatever reasons....

and then for some strange reason .....

it happens again and again over and over.

who are these psychopaths anyway?

who do they think they are talking to?

posted on Dec, 2 2011 @ 05:27 PM
And all this just to keep the EURO from imploding for another week, of two...guess they are buying time for their friends, in Europe, to finish plundering the Continent...

posted on Dec, 2 2011 @ 05:30 PM
Everyone except the hard-working average U.S. tax-payer gets a bailout I see.

MY taxes going to bailout the irresponsible wealthy SNAKES of this country, and now SKIPS over the average common hard working U.S. citizen and tax payer to go OVERSEAS.

Guess its NOT ONLY OUR JOBS going overseas, NOW its OUR TAX MONEY.

How much MORE can they SCREW US the American citizen??

posted on Dec, 2 2011 @ 05:53 PM
idk, maybe because WWII would have cost $3.445 Trillion in 2008. Oh, but that is just converting the cost of WWII from 1945 to 2008 dollars. Given that our toys are far more expensive today (even conventional warfare) that decimal may slide a few places to the right.

Also consider that in 2010 the UK, Germany and the Netherlands imported about $119 Billion from the US so keeping the eurozone from crashing is pretty important. After all $119 Billion is quite a few jobs to become vaporized.

But they all wouldn't be sitting at home since soldiers would need to be drafted. The death rate alone might require us to draft illegal aliens (or grant citizenship if they make it back)

Personally, $176 Billion sounds like a bargain comparatively.

posted on Dec, 3 2011 @ 08:22 AM
reply to post by Ahabstar

The 176 billions is just a figure been trow out for the tax payers, but even you most know that since the economic crisis the Fed has used trillions keeping no only the US afloat but also the EU.

So those "now" 176 billions should be add to the already wasted trillions and soon if this madness doesn't stop more trillions will be wasted to keep the corrupted global elites in power.

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