-
Website
http://www.americablog.com/ -
Original page
http://www.americablog.com/2008/09/paulson-bailout-plan-fails-to-add-any.html -
Subscribe
All Comments -
Community
-
-
Top Commenters
-
Popular Threads
All Comments
If so, I think we need some more stringent rules.
You gotta hand it to the Bushes--they not only steal votes there, they also wreck the state's economy & steal money right out of their ragged pockets.
As a former Buckeye--THAT PISSES ME OFF TO NO END!!!
OHIO--Don't vote for Bush/McCain again and get a paper receipt for your vote!!!
I'm afraid that the next American Revolution may come out of the Midwest--
Ohio or Michigan--mark my words.
Each time I go a different way (too much, magic bus)
I want it, I want it, I want it, I want it ...
Every day youll see the dust (too much, magic bus)
As I drive my baby in my magic bus (too much, magic bus)
--The Who
It is absurd that this bailout would occur with no regulation to rein in the excesses that brought us where we are today:
Dear Friend,
Congress is on the brink of making a one-sided deal to give George W. Bush
a blank check to bail out his pals - offering nearly (or perhaps more
than) a trillion taxpayer dollars to Wall Street to cover its bad debts.
That works out to somewhere between $2000 and $5000 from every American
family. So what do the taxpayers get in return?
Nothing. No new regulation or oversight to help avoid this kind of crisis
in the future. No public interest givebacks to help people whose homes are
in the hands of the banks. Perhaps most shockingly of all, the taxpayers
get absolutely no share in the profits if and when these finance giants
bounce back, even though we are now assuming a great deal of the risk.
This is worse than a bad deal - this isn't a deal at all. This is a blank
check to some of the richest companies in the world.
I just signed a petition calling on key members of Congress to impose a
few sensible conditions to this bailout in order to protect the American
people -- I hope you will too.
Please have a look and take action.
http://act.credoaction.com/campaign/no_blank_ch...
Thanks!
This country cannot afford and survive another Bush term which it will be if McCain and Palin get in. We will be unemployed, at war, with no health care, and a theocracy.
What the hell is wrong with the American people? Are we racist and we refuse to vote for a black man? Are we being swayed by the lies from the McCain camp? Are we idiots and just don't care? Are we accepting of McCain's lack of economic knowledge, foreign policy knowledge?
I have looked at all of the swing state polls. I have looked at all state polls and I see a trend. The trend is moving away from Obama and favoring McCain and I just don't understand why. For the first time in my 42 years, I am beginning not to like what this country is becoming and fearful of what this country may turn into.
I can't believe Americans could vote in 4 more years of this crap.
On top of that the money gets spent to bail out foreign banks like Phil Graham's UBS.
http://www.talkingpointsmemo.com/
The attitiude on Main Street is heating up such that any ass clown in Congress that votes yes on this current bailout will more than likely find a quick and timely demise, to their political careers that is. They better start making plans on living in DC, for they will be tar and feathered at home, at best.
Yuval Levin at NRO writes:
"Everyone should read the actual text of the proposed bailout plan the administration is sending to Congress. It’s clearly not a final version (the part about only purchasing from financial institutions headquartered in the US has already been changed, as Kathryn notes below), but it’s the essential shape of the proposal. See if you can read through the whole of it without concluding that everyone in Washington has lost their minds."
Not everyone’s lost their minds. Unfortunately, the people who matter seem to have.
http://yglesias.thinkprogress.org/archives/2008...
they are trying to keep it going.
A caller on Air America last week was seriously worried about that.
The New York Times reports this evening that "foreign banks, which were initially excluded from the [Wall Street bailout] plan, lobbied successfully over the weekend to be able to sell the toxic American mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks."
The Times further reports that two of the biggest foreign banks in need of such relief are Barclays and UBS. In fact, my understanding is that UBS is more on the line here than any other foreign bank.
Let's add this up.
John McCain's top economics advisor, who is widely believed to be his choice for Treasury Secretary, should he win in November, is former Sen. Phil Gramm. (Indeed, just last night his spokesman refused to say Gramm wouldn't be McCain's choice for Treasury Secretary.)
Gramm is both vice chairman of UBS's US division and a lobbyist for UBS.
If UBS successfully lobbied over the weekend to get in on the bailout, what was Gramm's role in the lobbying?
--Josh Marshall
Have a look at these gems:
http://www.itulip.com/forums/showthread.php?t=5311
"Sec. 6. Maximum Amount of Authorized Purchases.
The Secretary's authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time"
"Sec. 8. Review.
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."
"Sec. 10. Increase in Statutory Limit on the Public Debt.
Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000."
http://www.youtube.com/watch?v=1_MJG0Iw-mY
http://www.marketwatch.com/news/story/goldman-s...
Paulson knows how to protect his former employer.
The White House warned the Democrats against overplaying their hand. “This is not the time to be testing what are very unsettled and fragile markets,” said Tony Fratto, White House spokesman.
http://www.ft.com/cms/s/0/9c89aa3e-8807-11dd-b1...
Huh.....maybe the people need to warn the White House.....despicable morons.
The Treasury secretary said the US scheme should be open to all banks with “significant operations” in the US – including foreign-owned banks, even though this is likely to be politically controversial. “The American people don’t care who owns the financial institution. If the financial institution in this country has problems it has the same impact whether it is US or foreign-owned,” he added.
This unelected ass clown must be kidding. This is like saying no American really care if someone puts a bullet in Paulson's head. I care.
http://www.bloomberg.com/apps/news?pid=20601087...
But, please, not Obama. Let him show us that he'll take a firm stand on this sort of garbage.