Bush signs $700 billion financial bailout bill

Bush signs $700 billion financial bailout bill

www.msnbc.msn.com

The House passed a $700 billion bailout of the financial services industry Friday, reversing itself after members who voted to kill the measure earlier in the week came around to a Senate version that offered more protection for individual investors and small businesses.

(visit the link for the full news article)



[edit on 3-10-2008 by xmaddness]


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[edit on 5/10/2008 by Badge01]

Well, it begins. We are all officially paying off wall street tycoons for their bad tactics. We have officially taken a track that we can no longer look back on. This opens a whole new door of avenues for banking companies looking for uncle sam to bail them out when times get tough (or when their "big plan" goes sour).

This quite possibly could have been the official end of Liberty and Constitutionalism in the United States. It is a sad day when the government PTB pass a bill, even though upwards of 80% of Americans have shown that they do not want this measure to go through. This is no longer a government for the people. It is a government for the elite wealthy class.

To see what is in this bill in its final form, have a look at these links, including:

The 451 page bill itself (.pdf)

Rescue bill 101: What it says

For the more in depth look at it:

See the text of the Emergency Economic Stabilization Act of 2008 (H.R.1424) and more information about the bill

Emergency Economic Stabilization Act of 2008

Much of what has occurred over the past week have caused a lot of people to start questioning just what is really going on in our banking, financial, and government areas. For one, this bill, as pointed out in another thread, is technically "unconstitutional", because the bill is supposed to originate in the house, then go to the congress, not the other way around.

Shortly after the bill passed in the house, the DOW fell sharply from +250ish, to now +100ish, within 20 mins of the bill passing. The dow ended up closing the day at -157.47, so much for putting confidence back in these markets.

Now that the bill has passed, do you believe that this brings about a whole new loophole in the financial markets, setting a precedent that the people will bail out our financial institutions if the need comes around? Will we see this happen again as many economists predict? Is this simply extending the real problem? Only time will tell.

What also annoys me to no end is the addition of the so called "pork" that ended up tacked on to this bill. Here is a short list of it:

• Increase on limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
  
• Extension of economic development credit for American Samoa
  
• Indian employment credit
  
• Seven year cost recovery period for motorsports racing track facility???????
  
• Tax incentives for investment in the District of Columbia
  
• Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds
  
• ovisions related to film and television productions
  
• Exemption from excise tax for certain wooden arrows designed for use by children
  
• Income averaging for amounts received in connection with the Exxon Valdez litigation
  

Simply Amazing...

List of Senators and how they voted

List of House of Representatives and how they voted


Upset at how your Representative or Senator voted?

Write Your Representative or write your Senator and let them know just how you feel.


So, I ask you ATS.

Do you think this bill will change anything?
Do you feel as an American, (or a foreigner looking in), that you are being properly represented in the government.
Could this be NWO pre-planning?



www.msnbc.msn.com
(visit the link for the full news article)

[edit on 3-10-2008 by xmaddness]

[edit on 3-10-2008 by xmaddness]


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Mod Edit: Title fixed to reflect original article

[edit on 5/10/2008 by Badge01]

I don't know what to think.

We live in exciting times!

I cant wait to see what happens next and how much harder i'm gonna be *snip*!! I like being pushed over like i'm nothing by the people that was voted into office by my own hand




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[edit on 3/10/2008 by Badge01]

Not one yah voter for this 403 page pile of cr*p will get my vote in November. I don't care what party they are from, what their stand is on any other issue. Their blatantly ignoring what the people wanted is enough to make me vote for anyone but them.

i've noticed the dow slowly drop since it passed. I guess that is not what they expected? Kind of sad how are reps don't listen to what we say!!

reply to post by xmaddness


Nope it means the taxpayers foot the bill....via government. And you can bet that there is a funnel where those funds go through that has a "tap" that leads to another vault besides the intent.

Cheers!!!!

There goes the neighbourhood......

400 rich fat-cats are now breathing a sigh of relief. They can now top up the fuel tanks on their yachts and buy that 100th house they had their eye on.

Seriously, now is the time to start stockpiling food and other necessities. Go and invest in some gold and bury it somewhere. Buy a plane ticket to Antarctica.

Can you american taxpayers please bail out the queen, she cannot pay her bills. lol

I want triple my tax return this year as it will take that much to purchase the same as last year.

What this means is that the NWO can do anything they want and noone is going to do a darn thing about it.

The American public spoke, and they turned a deaf ear.

Disgusting.... this nation is officially the Corporate States of America. No matter how much the people complained and did their duty the government still did no listen. Oddly enough the market has been dropping...go figure.

BTW ask me if Im going to pay my taxes this year or the next?

[edit on 3-10-2008 by mybigunit]

Let's ensure that the roll call is posted as soon as it is released.

I, for one, feel like reeming some Senators...

Can anyone tell me wether the power given to the Treasury Secretary had been minimized in the latest version of the bill?

If this bill was to bailout wall street then why is the DOW FALLING???

I know it was all a lie, do you think the rest of the country will realize that?

As far as I'm concerned, this just adds to the TREASON all of these individuals have BEEN guilty of against this nation, and it is now time to invoke lawyers and start up trials. These treasonous criminals, and their even BIGGER criminal puppet masters--Wall street fraud profiteers---MUST be tried for their crimes and sentenced. This extortion of the populace is the final straw. It is time for EVERYONE to take a stand. Our very lives, and the lives of our childrens, ad infinitum, depend upon it.

[edit on 3-10-2008 by DimensionalDetective]

*big sigh* Guess we all this was coming as soon as they announced that the new "sweetners" has softened the GOP that had originally voted against the bill.

I will be voting against each and every person that voted "yea" for this bill regardless of party affiliation when they come up for re-election.

It's clear that our reps in the House and Senate do what they want to do even if they get millions of emails telling them to vote otherwise. It's time to force a new government. They don't represent us and our interests anymore.

When their wall street friends need money, it's there. When the middle class can't afford gas or their home mortgage, they don't blink an eye.

www.foxnews.com...

reply to post by MyrTheSeeker


To some degree, yes. His approvals are reviewable and subject to legislative & judicial action. His denials are not reviewable by anyone nor is there any mechanism for requesting reconsideration or outside arbitration.

reply to post by redhatty


Quite frankly I would almost expect the market to crash sometime in the next few days. While this is bad for the people, it is also vindication and proof that we were right to be worried, right to oppose the deal and...well....just right!

reply to post by mybigunit


The beginning of the privatization of the Treasury Department by the global banks has started.

Mark my words...

If the voted "yea", I will vote "nay".