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Hmm, I'll take my chances with the depression.
http://www.thenation.com/doc/20081006/greider
It's the world!
"Foreign Firms to Be Included in Bailout
Paulson to Stephanopoulos: 'We Are Talking Very Aggressively With Other Countries'"
http://abcnews.go.com/ThisWeek/story?id=5850225...
http://digg.com/business_finance/US_Taxpayers_T...
http://firedoglake.com/2008/09/21/want-equal-pa...
THE MONEY MASTERS
http://www.youtube.com/watch?v=OnwLgrSJZKs
Charles Schumer (D): We will not Christmas-tree this bill,” he said Sunday on Fox. “The times are too urgent.” A stimulus package, he added, “doesn’t necessarily have to be part of the bailout.”
Christopher Dodd (D): "We don’t have any choice but to act..."
Nancy Pelosi (D): ..made clear earlier that she would push for a stimulus initiative, likely as part of the budget resolution Congress must adopt before adjourning.
There you have it folks. They're getting what they want, wheres D-leaders might push for a stimulus package down the road...
http://solari.com/blog/?p=1586
It turns out that David Hisey, the Chief Financial Officer of Fannie Mae appointed on August 27, 2008 after the government takeover, once worked at KPMG. And who were they? They were the auditors for HUD and FHA under Andrew Cuomo when the housing bubble got going and $59 billion plus went missing from the agency. (See our Missing Money page for more.)
So here is the latest tidbit in from a network member. Hisey was an audit partner and worked on the HUD/FHA audit account at KPMG during all the shenanigans.
Remember, just because Fannie Mae is in conservatorship does not mean that more assets can not disappear.
Thanks, Solari network member. Good catch!
Hey, if you can justify giving money to the banks and financial moguls that created this mess….my solutions is every bit as good. Of course, a better method would be to just load up several cargo planes with the $700 billion and drop it, willy-nilly, over American cities and let happenstance sort it out.
Almost anything you can think of is better than turning the entire economy over to Paulson to do with as he and his cronies see fit.
Great commentary here by Bill Moyers. He names names and posts photos of some of the schmucks on Wall St. who have made out like bandits during the Bush years....
What I see is that this plan delays the real pain and lets them sort out some issues before then. It's seems that the little guy is akin to the miner trapped at the bottom of the mine. Sorry, we know you are down there, but we just can't get to you (and we won't try).
These dirt bags need to be in prison. Not one damn dime for their corrupt thieving asses.
One of the reasons our government has been free of major problems is the checks and balances designed to ensure major crises are well thought out. Look at the major events of the 20th century, in World War I, President Wilson realized our nation couldn't avoid the war but he made sure that he got the American people behind him, convinced them they should sacrifice for the greater good. In World War II we had the same thing, however, after 9/11 the president told the people they shouldn't change their way of life, he told them they should go shopping. Trillions of dollars have been sent to Iraq and now Americans cannot afford the gas for their cars and the mortgage on their homes. Under this administration, we continue to find our nation in crises, we continue reacting instead of acting, and now they are asking for more unchecked powers, WE MUST BE VERY VERY CAREFUL."
Due to no regulation and short certificate buying, no one knows what loan belongs to who and they may never know. How can that be? It sounds fishy and criminal, and now corporations who are suffering a metl down want to save their own hides on the backs of the American people. We cannot allow this to happen to us again and again -- corporations first, people never. This time it must be people first!
We cannot allow ourselves to be pushed into this decesion based on fear and scare tactics. We must carefully and thoughtfully try to find our way out that will benefit the people this time and not just the corporations, who are only trying to save their wealth, their stocks, their homes, cars, and their Country Club First, way of life.
Trickle down economics cannot work because it is against the laws of nature. In nature we start/build from the bottom up, etc. a plant, a tree, a child. And when we build homes or cars we start from the bottom and expand up or outwards and that is how we should model our business dealings. We cannot work against nature's wisdom and intelligence by hoping things will trickle down. It is just not sensible. We have an intelligent design through nature and we should use her model not man's greed. It is very hard for me to trust the people who got us into this mess to somehow now be able to get us out of this mess. That too does not make sense! We must contact our Congressman and Senators and tell them NOT SO FAST!
"IRAQ RECONSTRUCTION
-$142 million wasted on reconstruction projects that were either terminated or canceled. [Special Inspector General for Iraq, 7/28/08]
-Significant amount of U.S. funds for Iraq funneled to Sunni and Shiite militias. [GAO Comptroller, 3/11/08]
-$180 million payed to construction company Bechtel for projects it never finished. [Federal audit, 7/25/07]
-$5.1 billion in expenses for Iraq reconstruction charged without documentation. [Special Inspector General for Iraq Reconstruction report, 3/19/07]
-$10 billion in spending on Iraq reconstruction was wasteful or poorly tracked. [GAO, 2/15/07]
-Halliburton overcharged the government $100 million for one days work in 2004. [Project on Government Oversight, 10/8/04]
KATRINA
-Millions wasted on four no-bid contracts, including paying $20 million for an unusable camp for evacuees. [Homeland Security Department Inspector General, 9/10/08]
-$2.4 billion in contracts doled out by FEMA that guaranteed profits for big companies. [Center for Public Integrity investigation, 6/25/07]
-An estimated $2 billion in fraud and waste nearly 11 percent of the $19 billion spent by FEMA on Hurricanes Katrina and Rita as of mid-June. [New York Times tally, 6/27/06]
-Widespread waste and mismanagement on millions for Katrina recovery, including at least $3 million for 4,000 beds that were never used. [GAO, 3/16/06]
DEFENSE CONTRACTS
-A $50 million Air Force contract awarded to a company with close ties to senior Air Force officers, in a process fraught with improper influence, irregular procedures, glaring conflicts of interest. [Project on Government Oversight, 4/18/08]
-$1.7 billion in excessive fees and waste paid by the Pentagon to the Interior Department to manage federal lands. [Defense Department and Interior Department Inspectors General audit, 12/25/06]
-$1 trillion unaccounted for by the Pentagon, including 56 airplanes, 32 tanks, and 36 Javelin missile command launch-units. [GAO, 5/18/03]
Given Bushs history of gross fiscal mismanagement including an unprecedented number of no-bid contracts and Bushs resistance to closing fraud loopholes or increasing oversight of contracts why should Americans trust another $700 billion to his care? Paul Krugman writes, Lets not be railroaded into accepting an enormously expensive plan that doesnt seem to address the real problem.
Thinkprogress.org
"Cutting off our arm to spite our body".--- If thy right eye offends thee, pluck it out!" Does this at all sound familiar in the least?
http://www.dailykos.com/story/2008/9/21/11359/7...
If we need to deal piece meal with a few of these collapsing companies, $10 billion here, $10 billion there to give us the time to examine this $700 billion deal and set up proper controls and oversight, including very strict regulations to make sure these crooks don't grab the entire $700 billion and run off to Paraguay. If they do, my guess is one or the other, Cheney or Bush, will blow the brains out of the other guy within a couple of weeks of arriving in Paraguay.
Note the things it has in common with 9/11 is we must trust these guys, and that it is an emergency, and be afraid, very, very afraid. Yep! I'm afraid all right. Afraid to trust these crooks, criminals, liars and murderers. The sheeple will again be fooled and led to the slaughter.
To my understanding, this crisis is world wide, not only just in the U.S. Russia shut down at least twice this past week.
The Greedy shall not inherent the earth!