Stop the Bailout!!! Restore the Republic!!!

Keith_McClary

How about a PO poll on the $700,000,000,000.00 giveaway to rich scumbag banksters.

Of course the question should be carefully worded in a neutral and unbiased way to ensure scientific validity of the results.

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6486

erb

It looks bad but you know this game is going to continue for a looong time after, the elections will come, everyone will continue to be screaming about the price of gas, bread ect.

i dont think the ptb want this house of cards to fall when they can keep getting bail out after bail out and buy up more banks and financials
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LOOKING FOR -a view of the enditems-

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6486

New website: www.stopthehousingbailout.com
_________________
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS

Plantagenet

Hey...its not so bad. Just turn that frown upside down!

"Sometimes the skies look cloudy and it's dark. And you think the rains will never pass. The young people understand that the clouds -– these too will pass, that a brighter day will come."

--Barack Obama

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6486

"Hope lies in the smoldering ruins of empires" - Rage Against the Machine
_________________
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS

AirlinePilot

Its starting to look like a LOT of reps are going to vote against their constituency. Welcome to the USSA.

Its really sad that the current crop of corrupt weenies running our country just plain don't know how to do their jobs.

Our voices and votes do not count.

I wonder what it's going to take to get J6P off his ass. Is there anything that can?

Delphis

Well the market certainly is not happy with the delay in the bailout news...vote at 1:00?

I feel like a kid in a candy store!

There seem to be more and more rep's getting the fact that this is just another fleecing of the populus by G Dub and his henchmen!

I can't wait...I hope they say bite me to Paulson and the crew and the WS fat cow's can get what is coming to them!

Cheers!
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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

Jotapay · Intermediate Crude Joined: Jun 21, 2008 Posts: 675

Someone from my representative's office called me this morning and told me that my rep is voting against the bill. Rep. Mike McCaul. He's my newest hero.

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6486

Plantagenet

Obama is promising to review the bailout after he is elected president to see if there are any problems with it.

Wouldn't it be more helpful if he would review it NOW?

Novus · Light Sweet Crude Joined: Jun 21, 2005 Posts: 1750

It looks like the bill may actually FAIL. Maybe the Republic is restored.

The crash on Wall Street is not congresses fault but the fault of the crony bankers. The people will know who to lynch when the riots begin.

coyotl · Tar Sands Joined: Sep 02, 2007 Posts: 48 Location: Norway

It's been voted down.
What now? (coup d'etat?)
This guy claims it was NOT necessary, rather the stickup of history:
link

DR. MICHAEL HUDSON, ECONOMIST AND HISTORIAN: No bailout at all. There's no need whatsoever for the bailout. They should let—and it's not a bailout; it's a giveaway, and it's a giveaway that'll create a new kleptocracy of billionaires that lets all of the billionaires who have leveraged their capital cash out, take their cash, and move it all into Euros and the sterling, move it all abroad, and that collapsed the dollar. So they should just say don't do it, wait till the election takes place, do it over time. Of course you have to protect people's savings in the banks, you even have to protect the money market funds, but you don't have to protect all of this money at the very top of this pyramid, because all this money that is being protected are other people's debts, and the debts have to be let go, the debts cannot be paid. And if the debt can't be paid, that has to be recognized. The public has to see that the economy's been on a wrong track for the last three decades or so and that it's all been a mistake, and you can't say that.

BASILONE: So this neoliberal economic model, then, is this proof that it doesn't work? Or are we going to still see more of this?

HUDSON: If [to proponents] it's not proof, they'll never admit it. It's a demonstration of the impossibility of the magic of compound interest doubling and redoubling the volume of debt, and trying to pay retirement savings and pension funds, and making people rich by continually doubling the amount of debt in the economy. This is a crazy way. No other economy in history has ever got rich off debt, and this economy can't either.

BASILONE: So it's a pyramid scheme.

HUDSON: Yes.

BASILONE: Now, what can people do to protect themselves from what's going on?

HUDSON: The only thing they can do is put their money in short-term Treasury bills, because the Treasury can always print the money. There's talk in the press, especially foreigners, about can the US government go bankrupt. No government can go bankrupt in its own currency, because it can always print it. The problem is that what will the dollars be worth internationally if the Treasury does save everybody. The dollar's been plunging because foreign investors, to the tune of hundreds of billions of dollars, don't trust Wall Street anymore. They are much less trusting of Wall Street than is Congress. While Congress is bailing out Wall Street, the foreign bankers are saying, "These guys are crooks. We don't believe their Enron-type accounting. We're getting out of the dollar because we don't believe the banks are sound. We think they've been lying to us along and these guys should be in jail." And if you read today's Financial Times of London, the spokesmen for probably worldwide financial sector, they're all saying America has to let the debts go. If it tries this bailout, the only solution is hyperinflation, and the dollar will be turned into pesos, and there goes the whole economy—it's the end of an era.

BASILONE: This is weapons of mass destruction in Iraq all over again.

HUDSON: Yes. Panic the people, make them think there's an emergency. There's no emergency at all. The debts of the very rich people—you know, it's just in the last five years that the richest 1 percent of the American population have increased their wealth from 37 percent to 57 percent of all the returns to wealth—dividends, interest, and capital gains in the economy, they vastly increased it. They don't want it to go back to normal. They'd like to keep on increasing it. And you can only do this kind of a ripoff—this is a once-in-a-century ripoff, and you can only do this kind of thing under emergency conditions, usually with the kind of bloodshed you saw when Pinochet introduced free markets at gunpoint in Chile.