Paulson: Troubled Assets Will Not Be Purchased

reply to post by badgerprints


I think that. . . what Americans are waiting is for a leader that will guide the people into the streets and Washington,

Originally posted by djpaec
reply to post by BlackOps719

 

Forgot to mention this, just the other day it was announced that they repealed part of the tax code. Specifically the part of the tax code that says you don't get a tax cut for buying other companies/financial institutions etc.. All while everyone was paying attention to the bailout. Meaning they were planning on never buying "Illiquid assets", and letting other financial institutions gobble of the weak ones, with our money, then giving them a tax break for it!


[edit on 12-11-2008 by djpaec]

Hmmmmm....funny thing. I dont remember reading about that in the NY Times...or on Yahoo news,,,I didnt even see it mentioned on CNN along side the reports speculating what kind of family dog the Obama's would choose to bring to the White House.


Do ya think maybe they just didnt want any of us to know?


Truly they can rob us blind and they dont even need to hide it anymore, most "citizens" could care less.

[edit on 11/12/08 by BlackOps719]

reply to post by BlackOps719


Specifically I saw it on the Rachel Maddow show, along with the Bushisms segment on Keith Olberman.

I thought it was all gloom and doom, heavy on the doom, if there wasn't fast action. Well, besides a couple of AIG parties later, nothing has improved and not much has happened.

I personally hope he doesn't help one bit and let natural economic forces work they way they are meant to work. Bad decisions result in bad results. Our economy seems full of bad results rights now brought on by .... bad decisions.

Originally posted by hinky
I thought it was all gloom and doom, heavy on the doom, if there wasn't fast action. Well, besides a couple of AIG parties later, nothing has improved and not much has happened.

I personally hope he doesn't help one bit and let natural economic forces work they way they are meant to work. Bad decisions result in bad results. Our economy seems full of bad results rights now brought on by .... bad decisions.

I hope it works because this is 3 trillion dollars of our money they have used to fix this problem. If this doesnt work we have 3 more trillion on our debt and still a problem.

I agree whole heartedly we should of let these fools fail. No bailout and no taxation without representation.

We're witnessing the crash of the US economy at full speed.

I read this article this morning and thought "it's all over". Injecting captial where they see fit? Donald Trump said it perfectly when he stated that banks were using the bailout money to buy out other banks. Eventually, we're going to have one bank in this country run by you know who.

And yet, there are those who say we're aren't heading towards socialism?

Good grief.

Folks,

We need to get away from our computers and take this to the streets. I'm currently very busy with my job (as are many of you), but this financial mess is too important to neglect. The ones in charge are obviously screwing us left and right. Paulson cannot be trusted! I don't believe he's acting in the nation's best interest. He is still looking out for Wallstreet and doesn't care about us. I, for one, have heard too many lies and cannot, and will not take it anymore. WE NEED TO ACT NOW AND SHOW THAT WE THE PEOPLE DO NOT ALLOW A FINANCIAL CZAR TO RULE OUR NATION. We need transparency and full accountability on all levels. We are being robbed by our very own banks !!!

What really scares me is that they're not even trying to hide stuff anymore. They are counting 100% on our fixation on Britney.

I have absolutely no experience in organizing anything. But I know that I cannot look in my son's eyes and do nothing about this situation. If we don't stop this now our children will suffer and pay a very high price for this. I don't want to be a silent accomplice. We need to act now.

I live in Los Angeles and want to organize a protest regarding transparency and accountability for the government bailout.

The address is:

CNN
6430 W Sunset Blvd # 300
Los Angeles, CA 90028
(323) 993-5000

Will anybody join me on Monday, November 17 2008 at 8am?

Originally posted by marg6043
reply to post by badgerprints

 

I think that. . . what Americans are waiting is for a leader that will guide the people into the streets and Washington,

Americans need to take responsibility for their own freaking actions. Americans are the ones who got us into this mess. Americans are the ones who keep buying more than they can afford, taking on more and more credit, allowing the credit companies to charge them more and more interest. Americans are the ones who are living beyond their means. By doing so, Americans are the ones who keep letting these horrible corporations profit and thrive. Why? Because Americans are never satisfied with what they have and constantly need more useless, material stuff! It's an endless chain of greed and gluttony.

No one wants to take responsibility for their own actions. Before you punch these scumbag CEOs in the face, punch yourselves in the face first.

[End Rant]

[edit on 11/12/2008 by pjslug]

Originally posted by Nichiren
Folks,

We need to get away from our computers and take this to the streets. I'm currently very busy with my job (as are many of you), but this financial mess is too important to neglect. The ones in charge are obviously screwing us left and right. Paulson cannot be trusted! I don't believe he's acting in the nation's best interest. He is still looking out for Wallstreet and doesn't care about us. I, for one, have heard too many lies and cannot, and will not take it anymore. WE NEED TO ACT NOW AND SHOW THAT WE THE PEOPLE DO NOT ALLOW A FINANCIAL CZAR TO RULE OUR NATION. We need transparency and full accountability on all levels. We are being robbed by our very own banks !!!

What really scares me is that they're not even trying to hide stuff anymore. They are counting 100% on our fixation on Britney.

I have absolutely no experience in organizing anything. But I know that I cannot look in my son's eyes and do nothing about this situation. If we don't stop this now our children will suffer and pay a very high price for this. I don't want to be a silent accomplice. We need to act now.

I live in Los Angeles and want to organize a protest regarding transparency and accountability for the government bailout.

The address is:

CNN
6430 W Sunset Blvd # 300
Los Angeles, CA 90028
(323) 993-5000

Will anybody join me on Monday, November 17 2008 at 8am?

Sorry, I've got an appointment at the bank..............

reply to post by pjslug


What about those of us who only have things like student loans, and are putting off buying a new better car so they pay them off. I drive a freaking 15 year old Chrysler LeBaron! Not all of us americans have done what you said. Some are responsible, however I can totally understand it. At my 4 years of University I have seen probably 15 different times, at least, where credit card companies were trying to push it on students. With incentives like food and other free stuff to get them to sign up. I'm not trying to make excuses for people, because obviously what they do is there actions.

But just broadly painting all Americans like this is stupid and small minded.
reply to post by Nichiren


I would totally join you, howeve I am in Florida.

reply to post by pjslug


The U.S. needs to start putting up the same trade barriers that China, Japan, and Europe insist on keeping, that creates a trade advantage. The fixed trade agreements are what is driving down U.S. wages and driving up debt.

The power brokers all over the world are all in on this big scam.

As far as I am concerned, the Fed Res is loaning out all the money, and I have no obligations to the fed res.

What I wonder is who the fed res thinks is going to pay back the fed res if the banks don't.

reply to post by poet1b


Thanks for offering your insight, I'll definately look into that. Please offer or start your own topic if you know anything else about the economy. I've always been interested, but never really knew where to start learning.

Hmm I spoke out about the bailout bill even before it was passed. i started way back when it was only 13 pages i think it was. i knew this would happen. they passed the bill against the will of the people they threw in some oversight that they never intended on using. Congress and the treasury both promised there would be transparency well we see whats been happening since congress passed this garbage. Seems like back when rumor of the bailout bill came out some people tried to say i was crazy. looks like i wasn't that crazy now huh? The bill failed, they aren't even using the money for what they said they needed it for. Now Congress wants to expand it to the automakers.

Wake up people!!!!! you've been lied to right to your face! this country has been robbed by the very same people that didn't need they freaking money to begin with! the markets are dropping every day now the elections are over Now the bottom will fall out of the markets and they will come crashing down by the end of Feb.

maybe they should call it Capital Relief Asset Program (CRAP) but in reality the purpose of the TARP was as much psychological (especially at that point in time when the markets were facing a meltdown) as it was practical. the taxpayers may get a better bang for their buck if they invested in the banks that will survive than by buying up worthless paper (and letting the weaker ones fail w.o. getting relief from their mtge backed securities)....I dont, however, like the lack of transparency and the fact that the banks are hoarding cash and not speeding up the velocity of money. what we need is a dual pronged approach whereby we shore up the financial institutions that lend money at the top (trickle down) and offer direct relief to the troubled home owner facing foreclosure but willing to stay and make his payments on the bottom (trickle up)....like a virtual cycle of rain and evaporation.

Considering it's tax payers money how about a spin on this.

As a tax payer I never authorized the use of my money in this fashion.

A contract was signed with the understanding that the money was to go buy homeowner loans.

If not then it is a breach of contract.

Now I want a lawyer to freeze all the assets until a trial can be held for the
"United States Citizens vs." whoever has decided and authorized this to happen.

Any movement or acceptance of the money will result in charges against them in laundering, accepting stolen property, etc., just like if I bought something off the black market.

I want the jury to include every citizen of the United States who will vote and popular vote will be considered the winner.

If winning, all previous sums of money paid will be require to be re-paid back if not the Citizens of the United States will have full authority to claim all assets of that company or organization.

Never happen as the courts are the same people but if the numbers were high enough anything can happen. Sure would be nice though.

Edit: or better yet because of the breach of contract I am no longer required to pay taxes.

[edit on 13-11-2008 by Darthorious]

Originally posted by madhatr137
reply to post by whiteraven

 

The plan was never to actually fix the economy...just to delay the complete collapse until the Bush Administration are out of the Whitehouse and sitting comfortably in their 90K Paraguayan ranch.

...and blame it on the next schlub to be in the Oval Office.

Out of sight, out of mind.

IMO

Exactly. Rush Limbaugh is already blaming OBAMA for the recession. And that's what the right will do for the next four years: blame Obama for problem caused by the Bush Administration.

reply to post by ClintK


More than a Bush problem, started with Saint Ronald with some laws passed and then Clinton's admin reinforced with some more deregulation.

Enough blame for everyone on this one. Not even mentioning what overseas governments or international banks did to "help" matter. It's not even just an American problem although we seem to have everyone blaming us because it is simpler.

Originally posted by hinky
reply to post by ClintK

 

More than a Bush problem, started with Saint Ronald with some laws passed and then Clinton's admin reinforced with some more deregulation.

Enough blame for everyone on this one. Not even mentioning what overseas governments or international banks did to "help" matter. It's not even just an American problem although we seem to have everyone blaming us because it is simpler.

Yes, to be sure, the financial meltdown does have a history going back into the 1980s. But it certainly wasn't caused by Obama, nor was the worsening economy. But I mean things beyond the economy as well. Iraq, Afghanistan, the enormous defecit Bush is leaving Obama with, the staggering national debt he's leaving Obama with and so forth. Any problems caused by those issues -- the right wing will jump to put on Obama.

reply to post by hinky


Like how a bunch of Municipalities in england invested in Iceland? Then Iceland just turned out to be one big mortgage trap.

And the reason I think for all of this. If we ever do get Hydrogen powered cars, the most rich nation in natural hydrogen is... Iceland. So had to make sure that small country was bought and paid for before they got to powerful.

This whole thing is maddening, and a huge grab for power. They're going to be expanding power and role of government all because of this financial mess. That I truely believe was engineered. And the actions they've taken to "correct" it are obviously to precipitate it. But I guess I'm just preaching to the choir.

Originally posted by pjslug
Because Americans are never satisfied with what they have and constantly need more useless, material stuff! It's an endless chain of greed and gluttony.

I want to add, too, that I'm not a greedy American. I barely buy what I need. I'm about to replace my shoes because they have holes in them. My home is mostly bare necessities, nothing much extra. You get the picture.

I got your point, though. A lot of Americans are into the materialism, which never made sense to me. As for me, I'm not perfect, but I am keenly aware of financial priorities. With the coming hardships, I'll have to be even more frugal. I'm thinking - food and water for the next few years. Those are going to be my new slimmed-down priorities.