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DanG
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Dirty Secret Of The Bailout
| Quote From Source: | Thirty-Two Words That None Dare Utter
A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8 (which ironically reminds one of the popular name of the portion of the 1937 Housing Act that paved the way for subsidized affordable housing ) of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.
| | Click source url to view entire story. |
http://blacklistednews.com/news-1622-0-13-13--.html
un-f*ckin-believable  |
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Indy
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What it means to me is that the Secretary can do whatever he/she wants to protect public tax interests. Ok. Sounds pretty right? Not a chance. That means the Secretary will basically become a bully debt collector for banks and will be unaccountable. They will be denied bankruptcy protection for your mortgage debt. You can file but they would be able to seize your tax returns and do wonderful things like deny you a passport, revoke drivers licenses, etc. Whatever it takes to protect their interest in the assets they have obtained from the banks.
This will join the ranks of tax debt, student loans and child support. Mark my word. It will happen.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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ghoster
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Perhaps it is also a CYA type of thing where they won't be criminally indicted for past actions.
Or future planned ones?
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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Indy
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It allows those responsible for setting this whole scheme up a way of saying "It wasn't me. I didn't know. I didn't have authority to investigate."
But I think I am spot on with the prediction of a bully collection agency to go after this debt owed to the government. They are so dishonest that they have become far too predictable. They are taking the 9/11 game plan and extending it to other areas. This whole anything for security without accountability mentality.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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ghoster
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I don't doubt that is also an aspect of it, power for powers sake, and using fear to gain it is an time tested method. We are in for a fearsome time and many are not prepared either mentally or with any resources besides their Ipod and cell phone. It is going to be difficult to navigate the coming period.
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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chrisisasavage
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The land of the "used to be free". |
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DanG
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It's an Outrage! From Main St. to Congress, Bailout Proposal Falls Flat
| Quote From Source: | Fifty-five percent of Americans say no taxpayer money should be used to bail out private companies, even if their collapse would damage the economy, according to the latest Bloomberg/Los Angeles Times poll.
Judging by our comment pages, the level of outrage and opposition to the bailout plan is even higher among Tech Ticker viewers.
| | Click source url to view entire story. |
http://finance.yahoo.com/tec...-Bailout-Proposal-Falls-Flat |
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Indy
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Wow. 55% of the people would rather the economy suffer than see corporations get a handout. Want to bet as to whether this was split down party lines?
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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Aerology
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Invisable equity?
The numbers posted as losses is the total amount of defaulted loans, NO ONE has subtracted the real market value of the real estate, these banks now own.
Why should the tax payer gift them the amount of the defaulted loans face value, in effect gifting them the real property, absolutely free!!
Nobody gave any tax payers lots of free houses, It would be OK, if they wanted to give every tax payer, who had a home mortgage, an even share of the $700 Billion, and then let them decide how to save the economy for themselves.
Fu*k the bad investors, every piece of investment propaganda says right on it "There is no promise of a profit, and you might even loose your whole investment" or some thing to that effect, don't they read their own BS?
You might notice that the value of farm land is not dropping, in any part of the country, just the over inflated housing, and only in over populated areas. What's the problem? |
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DanG
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| Quote From Source: | Congressman Ron Paul lectures Bernanke on the flaws of the bailout plan and the hazard of the attempt to fix prices versus letting them correct naturally in the free market at the Congressional Hearing today (9/24/08). Ron also questions Bernanke's authority and constitutionality of using the printing press to generate all this extra money needed for the bailout.
| | Click source url to view entire story. |
http://www.youtube.com/watch?v=dv6rQ0U01Yc
| Quote From Source: | Fox "News" speaks to economic expert and presidential candidate Ron Paul who has been warning that the U.S. economy with its flawed fiat monetary system would eventually collapse.
| | Click source url to view entire story. |
http://www.youtube.com/watch...0LHJtH0c&feature=related
This is EXCELLENT, just made it one of my YouTube 'favorites'. |
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Indy
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What amazes me is that Republican voters were given the choice between McCain and Paul and these people chose McCain. Clearly not a very bright group of people.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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well - in part - Dr Paul was ignored by MSM so a lot of folks just
didn't understand the choices that were involved.
dammit
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MountainManMike
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indy, i believe it was hillary supporters who went to the polls and voted for mccain trying to get him elected because he was the easier opponent. |
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chrisisasavage
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I suspect it's because the average republican voter is sheeple. They voted for Bush twice for crying out loud. |
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DanG
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Congress reaches tentative bailout deal
| Quote From Source: | Congressional leaders and the Bush administration have reached a tentative deal on a bailout of imperiled financial markets that could cost taxpayers hundreds of billions of dollars.
Senate Majority leader Harry Reid, D-Nev., said earlier that the goal was to come up with a final agreement before the Asian markets open Sunday night. "Everybody is waiting for this thing to tip a little bit too far," he said, so "we may not have another day." Whatever emerges "is not the proposal that we got from Secretary Paulson," Reid said. But lawmakers said it would be much closer to Paulson's original plan than to the alternative offered by House Republicans several days ago.
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http://www.usatoday.com/news...09-27-bailout-congress_N.htm
I just heard the sound of soap dropping... |
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Indy
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BRB... I have to run to the store to buy some KY.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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Who Made Who
the American people vs what they created...
The video game says "Play me"
Face it on a level but it takes you every time on a one on one
Feeling running down your spine
Nothing gonna save your one last dime cause it owns you
Through and through
The databank knows my number
Says I gotta pay cause I made the grade last year
Feel it when I turn the screw
Kicks you round the world, there ain't a thing that it can't do
Do to you
Who made who, who made you?
Who made who, ain't nobody told you?
Who made who, who made you?
If you made them and they made you
Who picked up the bill, and who made who?
Who made who, who turned the screw?
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FatalWishes
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LOL I love that movie. Maximum Overdrive.
http://www.imdb.com/title/tt0091499/
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Who wins, who loses under proposed bailout plan?
| Quote From Source: | Financial industry a big winner in bailout proposal, but not so troubled homeowners
WASHINGTON (AP) -- The proposal to bail out U.S. financial markets to the tune of up to $700 billion creates a lot of potential short-term winners, as well as some losers.
Wall Street and the banking industry are perhaps the biggest winners. Scores of banks and other financial institutions faced with going under stand to gain a lifeline that should allow them to start making loans again.
Under the plan that congressional aide sought to put into final form Sunday, the Treasury Department can start buying up troubled mortgage-related securities now held by these institutions.
| | Click source url to view entire story. |
Source Yahoo
Source URL:
http://biz.yahoo.com/ap/080929/rescue_winners_losers.html
This sucks. Why bail out half of the greed??? Bail them all out or none at all. This fricken stinks.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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Indy
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Is anyone shocked that the bailout vote failed?
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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F*ck em all - I'm soooo tried of this sh*t.
LET IT FALL.
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FatalWishes
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They need to reset the entire system. Back to zero for everybody. Including the greedy bastards that caused this problem.
Original Image: www.evoxforums.com
Can we add this gif?
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Indiana congressmen vote 6-3 against bailout bill
| Quote From Source: | "We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out." — Rep. Pete Visclosky, Democrat.
| | Click source url to view entire story. |
AMEN
http://www.wsbt.com/news/election/2008/29902884.html
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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Indy
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I guess not everyone in Indiana is crazy 
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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very timely gif FW |
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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 9/24/2008 at 06:57
