Senate Sets Bank-Rescue Vote, House May Act Friday

reply to post by marg6043


If that's the case, why would the proviso in the bill be for up to $700 Billion at a time? Shouldn't whatever 'fix' we implement be a 'fix it once, and fix it permanently' approach?

reply to post by marg6043


Indeed.. the fact that the Treasurer wants to break away from Congress to spend tax dollars at will is..

Frightening..

Even more so that everyone wants it to pass.

Price tag is nothing to me..

If you want to give the 700billion to them, be my guest, I don't care, inflation is through the roof and our economy will crumble without..

But what happens, when we look into histories, when a crisis envelops a nation and those we entrust to protect us begin seizing power?

9/11 Bush became the most powerful president in history..

10-?-08 the Treasury becomes it's own entity in financing Corporate America, essentially, the official Office of Fascism for the country..

What next? .. A massive terrorist attack and the next President decides they will become both Treasurer, and President, and will have no oversight..

Give it a few years..

Congress is abolished..

In times of trouble, countries sometimes appoint one man as guardian of the people, to hold enough power to ensure bureaucracy does not undo the Nation..

However, the protectorate sometimes never leaves... Caesar taught us that.

Here is a nice no-spin link to watch live.

www.fednet.net...

It appears Feinstein thinks her constituents are idiots!
91,000 phone calls, 85,000 disagree with the bill.."because they don't understand."

I r glad we gots smart peeple like her thinkin for us.

Originally posted by Maxmars
reply to post by marg6043

 

If that's the case, why would the proviso in the bill be for up to $700 Billion at a time? Shouldn't whatever 'fix' we implement be a 'fix it once, and fix it permanently' approach?

If markets "pick up" because of the bailout, and some people pay their loans again the assets purchased become functional, which can then be sold to a bank as an investment.. the Treasury can then turn around and incubate another bad asset in it's void..

Think of it like that machine people get hooked up that has their blood run through it, purified, and pumped back into the body.

reply to post by spacedoubt


I was hoping for a massive march on DC..

But I guess since everyone is struggling to pay off mortgages, credit card debts, can hardly feed their families that they cannot use a sick day to march..

This is just so tremendously outrageous.



Effective immediately I'm goose stepping everywhere I go....backwards....bent-over.....whistling Dixie....

:shk:

Amazing how this garbage has morphed from being about mortgages, House version. to funds needed to alleviate the credit crisis,(Senate). Which/ what is the real reason?

This bill has an expiration, doesn't it. A point when the powers that were given cease?

I don't remember, so that's an honest question.


Now, this bailout is so we have the time necessary to change the market system so that we don't need another bailout. I think people realize the fundamental flaws of our system now. If the system collapses though, there won't be anything left to change.

Those bad assets need to come off the books so we can start changing the system.

I also whole heartedly agree that most people don't know whats going on here. Many experts on CNBC have been saying similiar things I have been saying. That this is a confidence crisis, a trust crisis. That if we don't do something about these bad assets the credit market will continue to freeze over. I think it is completely necessary that we remove those bad assets from the books.

You want to punish people? Leave revenge for AFTER the problem is solved.

reply to post by Rockpuck


I wonder also what happen, why is not protest in Washington, but then again it is protest all around is just that the media is not doing anything to show the rest of the nation that is people out there protesting.

Only briefly protesters were shown when on Wednesday protesting in from of Wall street.

But just briefly.

The only reason congress and those presidential candidates are going to agree with this corruption of power is because the big fat rats are going to benefit handsomely with this bill.

This type of actions by the people's government are the ones that our own constitution protect us against it with the right of the people to raise against the corruption of our leaders.

is our right.





[edit on 1-10-2008 by marg6043]

reply to post by grimreaper797


I don't think that anybody here are against of some type of fixing for the markets, what most of us if not all of us are against is the corruption of power that is going to make a new entity of our department of treasury when the fed gets powers along with the Department of treasury to do as they wish with not control.

Corruption is already rampant in Washington, this powers on top of that corruption will take this nation in a dangerous precedented that is going to make the collapsing markets like a candy to a child.

Our government will be turning into a fascist government and agencies will be turning into private corrupted entities to do as they wish with their own powers.

The road to this corruption has been well documented here in ATS, and people still do not believe what now is happening under our own noses.

Because most people will never dream that America can be hijacked by corrupted politicians that only want power.

I agree, but to my understanding, the bill was changed to have congressional oversight. Am I wrong?

reply to post by grimreaper797


Well if you have read into the threads dissecting the bill you will see that the "people that will be doing the oversight" are to be the same corrupted fat rats that borough us the crisis.

The irony.

I am currently tuned in to CNN and am watching this unfold. (No, I haven't given up my TV yet). They are currently breaking in and out from election bs and the Senate vote. This is literally a mind #. How anyone could make heads or tails of this entire presentation is beyond me. I feel like I'm in the twilight zone here.

reply to post by tmbandt


THey aren't voting on the bailout yet. Now, it is some US-India Nuclear something or other.

The bailout is up next....(watching live on CSPAN-2)

Originally posted by grimreaper797
I agree, but to my understanding, the bill was changed to have congressional oversight. Am I wrong?

Aigh, your wrong..

The Treasurer will have to give "briefings" to Congress on what hes doing with the money, in theory, because they can take his power away..

But he still has dictatorial powers over the Treasury.

reply to post by marg6043


In that case, it doesnt matter if the treasury has the power or not. If the congress is THAT corrupt, where oversight doesnt matter, they would vote it up everytime anyway, right? The logic of what you just said isnt there.

Congress has the power. If congress oversight doesn't matter, then congress giving the power to the treasury doesn't matter.

reply to post by skeptic1

yeah, I realize the voting hasn't actually started. What blows my mind is that this story doesn't completely trump the silly election coverage thay keep showing. We are about to loose the US as we know it. Biggest story in our life times and these tools are breaking for the dog and pony show election.


[edit on 1-10-2008 by tmbandt]

reply to post by Rockpuck


I'm going to have to read the new proposal again. I could have swore on my life there was congressional oversight on spending. The original bill was just a breifing. But that failed.

reply to post by grimreaper797


His powers remain in tact..

The over sight mentioned is Congress will release payments in incriminates of 250billion (though the 700 billion revolves, so after 700 is collected, Congress no longer controls spending)

Also, the Treasurer must give details on what hes spending money on .. doesn't say Congress can say "don't do that" .. just that he has to tell them what he did..

Judicial immunity still stands, I believe. I believe Bush said he will veto any bill that does not give the treasurer specific powers outlined in the first bill, but other then that is open to debate.

I read the first one, 3 pages, I read some of the second (specific sections outlined at beginning of bill) .. this one is 3 times larger then the second, and would take me days to read it lol. Not to mention a lot of caffeine to stay awake.

Tell us what you find though!

They are doing the vote, roll call, now, and this is going to pass the Senate with no problem.

Only five "no" votes so far....


[edit on 10/1/2008 by skeptic1]