Talks Implode During a Day of Chaos; Fate of Bailout Plan Remains Unresolved

Talks Implode During a Day of Chaos; Fate of Bailout Plan Remains Unresolved

www.nytimes.com

WASHINGTON — The day began with an agreement that Washington hoped would end the financial crisis that has gripped the nation. It dissolved into a verbal brawl in the Cabinet Room of the White House, urgent warnings from the president and pleas from a Treasury secretary who knelt before the House speaker and appealed for her support.

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Related AboveTopSecret.com Discussion Threads:
Breaking News on Taxpayer Bailout of Wall Street

Thankfully, yesterday’s post that this Mammoth tab for American citizens was a done deal was in error. Think of it like a situation where we received a $10,000.00 utility bill in error. Thank God it was a mistake!

The news that we have not yet been forced to bailout foreign and domestic speculators in "no document" mortgage backed securities.

The bill is shorter than a comic book, and can be read in two minutes at: www.nytimes.com/2008/09/21/business/21draftcnd.html?ref=business

There are no assurances that this legislation will improve Americans economic situation at all. We are in speculative territory, and need to petition Congress to conduct extensive hearings before any legislation is approved.

When politicians assert that we need to quickly and immediately approve a 700 billion Dollar bill, that translates to Political Action Committees putting enormous pressure for the private interests they serve. Banks are not robbed slowly, and politicians are asking for a hurry up on this tax payer heist!

This bill is the most wasteful bill ever conceived in Washington for the benefit of the few. The bill encompasses bailing out foreign banks to the tine of $10,000.00 per American taxpayer.

Every concerned American should immediately fax, call and email their Congressperson requesting that this bill is torpedoed. Please copy the directory below.
www.congress.org/congressorg/directory/congdir.tt

Where Allen H. Meltzer, Former Economic Adviser to President Reagan, has stated: "This is a scare tactic to try to do something that's in the private but not the public interest," Americans ought to listen. The economy was good then, and Allen Meltzer has the qualifications to speak to the issue.
www.nytimes.com/2008/09/23/business/23skeptics.html?scp=1&sq=Allen%20H.%20Meltzer&st=cse

Keep up the calls, faxes and emails to Congress. We may still end up with some benefit for Americans, and elimination of a huge waste of public funds for the financial gain of the few.



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reply to post by Flash_dancer


Really? I did not know this, nobody mentioned it on ATS. Wow!

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