Bush signs $700 billion financial bailout bill

Ladies and Gentlemen, we have paid our first extortion installment.

There will be other payments demanded; Not all of them will be paid in the form of cash.


We have been played.


Our oppenents have studied our culture, our values and our prejudices. They have learned how to exploit our weaknesses, while convincing us that we were persueing the epitome of "The American Dream".


They have all but conquered what was argueably the greatest, most powerful nation the world has ever seen...

Without firing a single shot (So far).


What their financial manipulations have not yet destroyed, their careful and studied "spin" of the crisis will complete. They are counting on our native Egalitarian prejudices to polarize us against ourselves.

Thus we, ourselves, shall tear our great society apart to a degree no external oppressor ever could hope to accomplish.

For, while we, the masses, fan the flames of indignant rage against the "Wall Street fat Cats", Corporate CEO's and "Spineless", Traitorous" government representatives; they warm their tea over fires fueled by our now worthlees dollars.


Biding their time as our society collapses even faster than our poisoned economy.


Their hands are clean, we did it to ourselves. Their role no more than opportunistic Enabler to our insatiable Easy Credit addiction.


So save the rage and the high-sounding calls to Patriotic action. We did this to ourselves. Our elected officials did Exactly what we demanded of them. Like spoiled children on Holloween, we demanded more and more candy. And candy is what we got, by any and all means possible.


Feeling sick? Quit your belly-aching, you got exactly what you deserved.


Now quit pointing your fingers at each other, screaming "He did it, He did it!"



It is time to realize that we have been attacked, we are in a fight for our common welfare, if not for our very lives.



Let's start acting like it.

Well I just stumbled onto this myself, and thought it was fairly interesting..

what do you guys make of it?

Originally posted by andy1033
Can you american taxpayers please bail out the queen, she cannot pay her bills. lol

aw poor poor queenie sure the 2 Georges could have whip round, I mean bloods thicker than water

I'm not too hot on US law but is it possible to start a class action lawsuit? Something like "John Smith Vs The PTB". Charge them with the Theft of your Tax Dollars. If what they have done is unconstitutional and unpopularthen surely they won't have a leg to stand on??

Goodnight America. You have two options left to you now. Unite or die.

I feel so bad for the people out there right now who tried everything they could to stop this going through. The enemy is staring you in the face as it runs your country and yet you have all the power in the world to beat it. Its called local community and mass non-cooperation. I hope the majority can wake up in time to realise this.

Th8nker

I guess the will of the people no longer mans anything in America.
We all need to vote against every *snip* that voted for this bill. Senators and Represntative alike.
We need to demonstrate unity or we will never change it.
They all think we will forget at election time.
I have never seen the American people so in agreement about any bill as
they were on this one and they still voted it in,and have the guts to tell us it is for our good.They think we are all stupid and I guess they are right, we voted for them.
I will NOT vote for anyone that supported this affront to the people, including the two presidential candidates.


Mod Edit: No profanity, not even symbolic, or acronyms
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[edit on 4/10/2008 by Badge01]

I have given this bailout a bit of thinking and I can only come to the conclusion that is is in fact a reversed bank robbery

And the fact that they can get away with this legally bothers me too much.

Politics is the corruption at the top

The age of "We The People" is gone forever.

The following was taken from this excellent site. www.pushhamburger.com...

Rogers Holdings chief tells CNBC Europe U.S. brand of socialism is meant only for the rich.

by Jeff Poor

Has America created its own variety of communism with the U.S. Treasury Department’s bailout of two beleaguered government-sponsored enterprises (GSEs), Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE)? According to Rogers Holding CEO Jim Rogers, the answer is yes.

“America is more communist than China is right now,” Rogers told CNBC Europe’s “Squawk Box Europe” September 8. “You can at least have a free market in housing and a lot of other things in China. And you can see that this is welfare for the rich. This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters."

Rogers, known for launching the Quantum Fund with left-wing heavyweight George Soros, said the bailout was not benefiting homeowners or helping average citizens improve their standing for a home mortgage.

“It’s not bailing out the homeowners who are in trouble, by the way,” Rogers said. “It’s not bailing out people who want a mortgage – it’s just bailing out financial institutions. This is not my idea of the way things are supposed to be, but if that’s what America wants, you know, it can elect people who are going to do it. I think it’s a mistake.”

The Rogers Holdings CEO had little confidence that Democratic presidential nominee Sen. Barack Obama, Ill., or Republican vice-presidential nominee, Alaska Gov. Sarah Palin, would be able to do anything to steer Fannie or Freddie on a more stable path.

“This is a big huge mess and neither one of them has a clue as to what to do next year,” Rogers said. “Bank stocks around the world are going through the roof, that’s because they’ve all been bailed out. You don’t see the homeowners in Kansas going through the roof because they’re not being bailed out.”

Rogers had previously called for Fannie and Freddie to be allowed to go bankrupt. “They should not be bailed out,” he told “Worldwide Exchange” July 15. “This is outrageous. Who are these people who are taking our money and doing this and ruining America?”

“Let the patient go bankrupt,” he said. “We have courts in America; they will be reorganized.”

Fannie Mae and Freddie Mac were “wove a mantle of invincibility” through lobbying according to a September 8 Wall Street Journal “Deal Journal” blog post. According to the Journal’s Heidi N. Moore, the mortgage giants had $170 million in lobbying bills in the past decade and spent $3.5 million on lobbying just in this year’s first quarter, spreading their largesse among 42 outside lobbying firms.

Earlier on September 8, CNBC “Mad Money” host Jim Cramer called the bailout “a homerun plan” on MSNBC’s “Morning Joe.”

Bottom line, if you're like me you wrote in to your "representatives" and told them, No bail out..........did they listen? No, We the people is a farce.




There is an almost complete self-censorship in the establishment media whose intention is not to inform the reading public but to provide propaganda promoting the interests of others. Censored news is distorted news. The truth is being modified to suit the interests of a special few.

Let's not forget. Both candidates favor "amnesty."

Jobless rate jumps to five-year high of 6.1 percent in August; and it will go "higher."

payrolls cut by 84,000 ...

John McCain insists that the financial crisis is the direct result of Wall Street’s “unbridled corruption and greed.” Sarah Palin says likewise. Senator Obama, for the most part, has merely echoed what Treasury Secretary Henry Paulson has already said. Obama has an excuse though: He hasn’t finished conducting his seminar on what’s going on; he’ll get back to us after a rousing multivariate analysis of the value of “decisiveness.” Joe Biden says the Wall Street crisis is the result of George W. Bush’s tax cuts, which makes as much sense as blaming the rising price of fairy dust. But as a wise man once asked, Who gives a rat’s patoot what Joe Biden thinks?

Nonetheless, blame is settling on those old standby scapegoats, Wall Street fat cats.

So, I ask again: Who should go to jail? And the answer, as far as I can tell, is: no one — at least no one on Wall Street. That may turn out to be wrong. But even if there’s a bad penny or two in the pile, nobody will say this CEO or that banker is responsible for the mess. And so far, despite a flood of coverage and speeches and finger-pointing, nobody’s aimed their bony finger of condemnation at any Wall Street fat cat who did anything criminal.

Curious how much taxes companies pay? www.pushhamburger.com...




[edit on 4-10-2008 by ofhumandescent]

reply to post by Grey Magic

I have given this bailout a bit of thinking and I can only come to the conclusion that is is in fact a reversed bank robbery

Yes I totally agree, we the people, you, me all of us were robbed and our government bailed them out.

We have been under an illusion of being free and having a voice/vote.

It's pretty obvious to me that we the people is a farce and a sham.

If we were to commit a crime (like robbery) we would be procescuted (35 years for bank robbery), lose our job, go to jail, have to sell our home and possessions, and a whole poop load of problems would evolve because when you are a convicted criminal that is normally what the system does to you.

How about the Banks CEO's? Now come on folks, somebody ought to be prosecuted, fined (heavily), and go directly to jail, do not pass go and do not collect $500.

There are people out there that are above the rules, they can do as they please, get bailed out with no consequences.

This in turn sets up a physological mindset of a loss of respect for "law and order".........

We were robbed and our government condoned it.





[edit on 4-10-2008 by ofhumandescent]

[edit on 4-10-2008 by ofhumandescent]

reply to post by Anonymous ATS

It seems like that was done yesterday against the following entities, including Fannie Mae:
Link

NEW YORK--(BUSINESS WIRE)--Pursuant to Section 21(D)(a)(3)(A)(i) of the Securities Exchange Act of 1934 (the “Exchange Act”), Entwistle & Cappucci LLP (“Entwistle & Cappucci”) (www.entwistle-law.com...), a prominent New York law firm specializing in securities litigation, hereby gives notice that it has filed a class action complaint for violations of the federal securities laws against Merrill Lynch, Pierce, Fenner & Smith Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., UBS Securities LLC, Wachovia Capital Markets LLC, Stephen B. Ashley, Daniel H. Mudd, Stephen M. Swad and Robert J. Levin in the United States District Court for the Southern District of New York. The lawsuit is brought on behalf of all persons or entities who purchased Federal National Mortgage Association (“Fannie Mae” or the “Company”) 8.25% Non-Cumulative Preferred Stock, Series T (“Series T Preferred Stock”) (NYSE:FNM-T) from May 13, 2008 through and including September 6, 2008 (the “Class Period”).

The complaint alleges that the Defendants concealed and misrepresented to investors the Company’s overall financial health as well as the adequacy of the Company’s capital, which had dramatically diminished as a result of its mortgage-related losses, poor underwriting standards and risk management procedures. Such misrepresentations and omissions were contained in the Company’s information statements, quarterly and annual reports and offering circular (“Offering Circular”), which was issued to investors in connection with the offering (“Offering”) of the Series T Preferred Stock on or about May 13, 2008.

As alleged in the complaint, in 2007, U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke urged Fannie Mae to raise more money and bolster its balance sheet in order to comply with existing and impending regulations. Accordingly, Fannie Mae embarked upon a capital raising campaign, which was designed to reinforce the Company’s balance sheet for: (i) continued satisfaction of government mandated capital requirements, thus allowing the Company to continue purchasing mortgages from banks nationwide; (ii) to increase shareholder value; and (iii) to provide stability to the secondary mortgage market.

Mod Edit: Please supply a Link to your quote.
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[edit on 4/10/2008 by Badge01]

This thing is a scam, a sham, and the biggest robbery in human history.

I tried contacting my local Congressman, but couldn't because the "Servers" were overloaded. I repeatedly (for over a day) hit refresh, and nothing. I tried calling, nothing. I then contacted my senator with my disgust.

I Stated that the majority of the population did not want this to occur, how it was a travesty for our system, for the people.

I asked what was happening to the voice of the people and our republic when we are told to accept law with no voice , and not have a choice. I stated my pleas for him to honor the code of our Country, our State, of our People.

Here's the form letter I received from my Senator. I'll include it as it speaks volumes of BS. Please note, My outrage he speaks about is not even what I asked about.. I was outraged at the Bill not the situation, and the possible passage. I was outraged that our voices were not being heard. The majority did not want this to pass, but yet he spun what I said. This appears to have happened across the country, more spin :

Dear Mr. .......:

Thank you for contacting me regarding H.R. 1424, the Emergency Economic Stabilization Act. I appreciate hearing from you on this important issue.

I share the outrage felt by many Rhode Islanders and Americans about the economic crisis we face. The Administration’s failed policies and lax oversight have led us to this point. This crisis impacts us all, reducing the value of retirement funds and investments, the availability of mortgage and car loans, and the ability to pay for college. I voted in favor of this bill because I recognized that the choice was to see the economy worsen or act now to try to safeguard our financial future.

I worked on a bipartisan basis to improve the President’s proposal, which was nothing more than a blank check, by making sure taxpayers are protected and share in the recovery of participating companies. This bill also now imposes restraints on executive compensation and adds key oversight protections. For your review, I have enclosed a copy of my Senate floor statement that provides further details on my thoughts on this legislation.

None of us are happy with this situation, but you can be assured that your thoughts will guide my work to enhance accountability and oversight of our financial system as well as enact reforms that promote economic stability and provide the greatest benefits to Rhode Islanders.

Again, thank you for contacting me, and please do not hesitate to write, call, or visit my website, www.reed.senate.gov, in the future for information regarding this or any other matter.

Sincerely,

Jack Reed
United States Senator
reed.senate.gov...

Mind you, Senator Reed was asked about Campaign contributions the night of the Senate Vote (campaign contributions from the Banking industry mind you), and would not answer the questions live on the news (local NBC affiliate)... He looked like even more of a criminal goon.

Our country has been robbed of everything, we are paying all the bills and taxes, and yet we have no voice. These Senators, Congressmen/women are disgraces and criminals. Anyone who voted yes on this vote should be investigated, as it's clearly a sign that they are "in" on whatever is happening behind closed doors.

The thing I hate most, is that the Congressman and the Senators spun our calls for action. We bombarded there servers, there phones lines with a resounding NO for passage. They said it was just outrage regarding the economy, and calls for them do something. That something was no to passage.

We need to fight all of this, we are already poor enough, we already loosing our freedoms, we are already on death's door, why enter? Why not turn back and fight these criminals.

I pray to God, that eventually something will happen, investigations will work, and these evil evil men/women will pay.

We said no, and like always they didn't listen, only balking at us. God...

Mod Edit: Added 'ex' tags
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[edit on 4/10/2008 by Badge01]

Originally posted by squidboy
Dear Mr. .......:

Thank you for contacting me regarding H.R. 1424, the Emergency Economic Stabilization Act. I appreciate hearing from you on this important issue.

I share the outrage felt by many Rhode Islanders and Americans about the economic crisis we face. The Administration’s failed policies and lax oversight have led us to this point. This crisis impacts us all, reducing the value of retirement funds and investments, the availability of mortgage and car loans, and the ability to pay for college. I voted in favor of this bill because I recognized that the choice was to see the economy worsen or act now to try to safeguard our financial future.

I worked on a bipartisan basis to improve the President’s proposal, which was nothing more than a blank check, by making sure taxpayers are protected and share in the recovery of participating companies. This bill also now imposes restraints on executive compensation and adds key oversight protections. For your review, I have enclosed a copy of my Senate floor statement that provides further details on my thoughts on this legislation.

None of us are happy with this situation, but you can be assured that your thoughts will guide my work to enhance accountability and oversight of our financial system as well as enact reforms that promote economic stability and provide the greatest benefits to Rhode Islanders.

Again, thank you for contacting me, and please do not hesitate to write, call, or visit my website, www.reed.senate.gov, in the future for information regarding this or any other matter.

Sincerely,

Jack Reed
United States Senator
reed.senate.gov...

In a republic, this is how your letter would have read:

Dear Mr.....:

Thank you for contacting me regarding H.R. 1424, the Emergency Economic Stabilization Act. I appreciate hearing from you on this important issue.

I share the outrage felt by many Rhode Islanders and Americans about the economic crisis we face. Now is not the time to point fingers and play the blame game that has become so popular. This crisis impacts us all, reducing the value of retirement funds and investments, the availability of mortgage and car loans, and the ability to pay for college. I voted against this bill because I recognized that my constituents refuse to support such a bill, even though I pleaded with them to change their minds.

I worked on a bipartisan basis to improve the President’s proposal, which was nothing more than a blank check, by making sure taxpayers are protected and share in the recovery of participating companies. This bill also now imposes restraints on executive compensation and adds key oversight protections. For your review, I have enclosed a copy of my Senate floor statement that provides further details on my thoughts on this legislation.

None of us are happy with this situation, but you can be assured that your thoughts will guide my work. Your thoughts will help me better understand my constituents views. As a result, I can better represent my constituents when it comes to enhancing accountability and oversight of our financial system. It will also help me enact reforms that promote economic stability which provide the greatest REPRESENTATION OF Rhode Islanders on the subject.

Again, thank you for contacting me, and please do not hesitate to write, call, or visit my website, www.reed.senate.gov, in the future for information regarding this or any other matter.

Sincerely,

Jack Reed
United States Senator
reed.senate.gov...


Unfortunately, we don't live in a republic anymore. You are an irresponsible kid to them, and they took the role of the parents. You can speak freely, but watch your tongue and mind your manners. They will listen to you, but should they decide you are just an ignorant kid, they will make the decision for you, and without you if need be.

They may indeed represent us as a general public, but they don't represent our will. They don't represent what we aspire to become, they represent what we are. It is unfortunate when government stops representing aspiration, a bettering of ourselves, and starts representing the worst aspects of our culture.

Did the greed for power in government change our world, or did our greed change the government? Try to remember, the people in the house and senate, we elected them. They were raised in our towns/cities, they were raised by our community, under our laws, in our schools.

If we raised so many successful politicians in our little parts of the world that all believe "government knows better than its people", doesn't that prove there is a problem here, at home, not in government?

Oh, I feel safer already - NOT!

From: money.cnn.com...

A Financial Stability Board will include the Federal Reserve chairman, the Securities and Exchange Commission chairman, the Federal Home Finance Agency director, the Housing and Urban Development secretary and the Treasury secretary.

Ok, then. Lessee... It will be overseen by a rep from the Federal Reserve (a private corporation)... WHY???

A member of the S&EC... Unsure whether that is really a government body, but they didn't do a whole lot to keep this all from happening. WHY should I presume they will do any better in OUR interests than they did before?

The FHFA director... I have never heard of this agency, and don't know whether it is government either, though it probably is. Still, I bet the director is in a pocket...

HUD secretary... Yeah, another pocket dude, no doubt...

And - ROFLMAO (well, more ROFCMEO; Rolling on floor crying my eyes out!) Paulson! WHY???

Wait for those foreign debts to be assumed by us. Do you think ANY of these altruistic, concerned-for-Americans, sellouts and crooks will let US know the issues? Not a chance.

The OP asks:

Do you think this bill will change anything?

Oh, yes indeed! It will increase the slave labor we must do in our indentured state for a VERY long time.

Do you feel as an American, (or a foreigner looking in), that you are being properly represented in the government.

No FU...er...FRIGGING way!

Could this be NWO pre-planning?

Absolutely.

I will be campaigning avidly against both my Senators and my Representative ... IF we manage to get to where there are elections

Soon enough, We, the american people will probably not take this anymore. We have seen that our respresentatives don't represent us anymore, and the results of this will be seen eventually of this. I, just like most who live in this country, am not happy about this.

But I will forward a solution that is not mine in the form of a documentary that was released late last night. I saw it last night and it was AMAZING and couldn't have been timed any better to be released. It goes deeply into our institutions and offers a different way of living..a different view of how our world can work. It also offers solutions to our current problems near the end. I urge EVERYONE to take the time from being justly frustrated of this bill passage and to watch this. We can change this thing around.

Google Video Link

Zeitgeist: Addendum.

I have just sent the following e-mail to my Representative Rep Ander Crenshaw of Florida's 4th Congressional District. We will see if he has the nerve to reply.

Sailor

Sir,

I am writing this little note to you to let you know of my feelings on your recent vote for the "Financial Bailout". To start off I am very disappointed, our elected officials are supposed to "Represent" the people not just the "Banks" or the "Federal Reserve Central Bank" and most of all American taxpayer dollars should not be used to bailout foreign investment banks. Sorry that’s just how it is regardless of your "years" of experience as an "Investment Banker". While I realize that I am only one of your constituents, and your argument might be "I have to listen to the will of ALL the people not just you!" While this is true, I However have some interesting information for you. I have contacted ALL of my neighbors to ask them "Do you support the Financial Bailout?" NOT ONE said it was a good thing and ALL were against it. There is an interesting statistic that I am sure you are aware of, it states that for every one person that actually contacts their Representative on an important Bill/topic/ect their are 13,750 that feel exactly the same way but either do not have the means or "Know how" to contact their Reps. I have contacted you a total of 3 times on this important matter, I did not receive 1 reply which is what I expected, However I also signed a petition that was against the bailout at last count their were over 20,000 signatures on this 1 petition, 20 thousand signatures is a drop in the bucket compared to the nations population until you do a little math

13750 X 20000 = 275,000,000

Current U.S population estimate, 305,329,932

This shows that WELL over 3/4 of the American population are against this, so the question that begs to be asked is why?

Why would our "Representatives" in the House and the Senate go against the will of the people? This question will probably never be fully answered, the typical answer that will be fed to the public is to "stabilize the markets" and to protect the 401k's ect, I ask you this what good will they be when the dollars value has dropped to ZERO, due to this constant infusion of liquidity? I believe this all has been engineered to happen. On Mar 23, 2006 the Federal Reserve stopped publishing M3 (Liquidity of the U.S Dollar) why?
"Why are they hiding the M3 numbers?" that "The fundamentals are sound."
In an economy based upon credit, it becomes necessary to keep upping the money supply. Otherwise the entire bubble would collapse. The Federal Reserve is running a Ponzi scheme. When there is major trouble with debt, especially with government debt, one way to pay it off is to print more money. "Alternatively, a central bank could monetize the budget deficit, thereby inflating the economy. How so? By buying the government's debt itself with freshly printed money. That's what the Fed did in the 1970s." ("Globalization is the key to economy," by Danielle DiMartino. 07:38 AM CDT on Thursday, October 6, 2005)
“This is a stunning revelation for those old enough to remember the inflation troubles of the 1970s. Is that what was really going on then, that an enormous amount of money flooded the economy because government debt had to be paid down?”


[edit on 4-10-2008 by Sailor1]

Continued...


So we must bail out these “Mortgage backed Securities” investments that U.S and foreign banks currently own. This amounts to socialism of the financial markets to not allow the market to “sort itself out” you are inflicting serious damage to the everyday American through inflation due to the increase in the money supply, you should realize this since you tout in your credentials that you were an investment banker. I have come to the realization that you Sir no longer represent your constituents, as such I will be calling everyone I can in the 4th congressional district to urge them to oppose your upcoming reelection, I will bring up your current voting record and inform them of what and who the bailout really was for, you have made this choice yourself.
In closing I would like to add that it is not whether the American people were right or wrong in their decision to so openly oppose this bailout, its about our Representatives actually listening to their constituents, we are smarter than you give us credit for and we will have the last word on this, you can bet your “Mortgage backed Security” on it.