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kpete Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:35 PM
Original message
Wow-"Fully Bipartisan-Mass Public Lynching" Right Before Our Eyes!!!
Edited on Sat Sep-20-08 08:57 PM by kpete
But here's all you need to know. Hank Paulson is asking for $700,000,000,000. That's $2,333 from every man, woman, and child in the United States.

In exchange for that money, Paulson is unwilling to accept any demands to make markets more transparent, limit executive compensation, or assist homeowners fighting foreclosure. The sole purpose of that $700,000,000,000 is to bail out Wall Street and only Wall Street, but not to fix it, or our larger economy.

He is asking to be absolutely unbound by any law when he spends that money.


Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.


Here's more, this part terrified my conservative friend because he reads it to mean they're going to hire cheap, illegal immigrant labor with impunity. He's right, in the sense that this allows the fed to hire anyone and give them any status, and not only can no one do anything about, no one will even know about it:

(b) Necessary Actions.--The Secretary is authorized to take such actions as

the Secretary deems necessary to carry out the authorities in this Act, including, without limitation ...

(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties ...

(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts ...


http://www.dailykos.com/storyonly/2008/9/20/1987/87453/100/605017
http://calculatedrisk.blogspot.com/2008/09/bailout-proposal.html
http://emptywheel.firedoglake.com/2008/09/20/no/

...............


Today's banking crisis is the THIRD trillion dollar plus
US-caused financial meltdown in the last twenty years.

Each one of these crises came into being through the same basic
mechanism...the fraudulent over-valuing of financial assets by
Wall Street - with a "wink and a nod" (and sometimes a lot more)
from the White House and Congress.


The fraudulently valued assets stimulate the economy, impart
the illusion of health and then, inevitably, the fraud goes
too far and the whole house of card comes painfully crashing
back to earth.

The three trillion dollar plus frauds were:

Fraud #1: The so-called "Savings and Loan Crisis" of the late 80s

Fraud #2: The so-called "Tech Bubble" of the late 90s

Fraud #3: The so-called "Credit Crisis" of today

more explanation here:
http://current.com/items/89322147_the_financial_meltdown_explained
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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:37 PM
Response to Original message
1. It would be good if this got passed around.
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Pete2069 Donating Member (301 posts) Send PM | Profile | Ignore Sun Sep-21-08 04:50 PM
Response to Reply #1
47. Instead of theory should prove on the Clinton's'
Sound like Clinton bashes or RNC BS about the Clinton.  
Clinton took a failing economy and built it into a sound
economy , building up all of our social programs and jobs. 
Some republicans even tried to say that the tax cuts in the
Reagan - Bush administration for the wealthy did this..
But Bush Jr. has should what happens when you cut taxes on the
wealthy and it has been very clear and to the point.   

Bush's administration is the one which took over site on the
financial institutions and everything else for corporations ,
while deleting the policies Clinton have put in place.  This
is what Bush was busy doing before 911 and had not time to
bother with the Bin Laden wants to attack inside of America...

****
http://clinton5.nara.gov/WH/Accomplishments/eightyears-03.html

President Clinton’s Record on the Economy: In 1992, 10 million
Americans were unemployed, the country faced record deficits,
and poverty and welfare rolls were growing. Family incomes
were losing ground to inflation and jobs were being created at
the slowest rate since the Great Depression. Today, America
enjoys what may be the strongest economy ever.



Strong Economic Growth: Since President Clinton and Vice
President Gore took office, economic growth has averaged 4.0
percent per year, compared to average growth of 2.8 percent
during the Reagan-Bush years. The economy has grown for 116
consecutive months, the most in history. 
Most New Jobs Ever Created Under a Single Administration: The
economy has created more than 22.5 million jobs in less than
eight years—the most jobs ever created under a single
administration, and more than were created in the previous 12
years. Of the total new jobs, 20.7 million, or 92 percent, are
in the private sector.
 
Median Family Income Up $6,000 since 1993: Economic gains have
been made across the spectrum as family incomes increased for
all Americans. Since 1993, real median family income has
increased by $6,338, from $42,612 in 1993 to $48,950 in 1999
(in 1999 dollars). 

Unemployment at Its Lowest Level in More than 30 Years:
Overall unemployment has dropped to the lowest level in more
than 30 years, down from 6.9 percent in 1993 to just 4.0
percent in November 2000. The unemployment rate has been below
5 percent for 40 consecutive months. Unemployment for African
Americans has fallen from 14.2 percent in 1992 to 7.3 percent
in October 2000, the lowest rate on record. Unemployment for
Hispanics has fallen from 11.8 percent in October 1992 to 5.0
percent in October 2000, also the lowest rate on record. 

Lowest Inflation since the 1960s: Inflation is at the lowest
rate since the Kennedy Administration, averaging 2.5 percent,
and it is down from 4.7 percent during the previous
administration. 
Highest Homeownership Rate on Record: The homeownership rate
reached 67.7 percent for the third quarter of 2000, the
highest rate on record. In contrast, the homeownership rate
fell from 65.6 percent in the first quarter of 1981 to 63.7
percent in the first quarter of 1993. 

7 Million Fewer Americans Living in Poverty: The poverty rate
has declined from 15.1 percent in 1993 to 11.8 percent last
year, the largest six-year drop in poverty in nearly 30 years.
There are now 7 million fewer people in poverty than there
were in 1993. 

Establishing Fiscal Discipline and Paying off the National
Debt 





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MannyGoldstein Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 05:24 PM
Response to Reply #47
57. Outsourced Jobs Set The Stage For Today
Clinton helped to hand our economy over to the Chinese, all for a few shekels for him and his patrons. He also changed the way inflation is measured so we look better than we should. The poverty rate is a shell game - depends on where you set the poverty level, and it has been changed several times (and is still not set properly).
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Pete2069 Donating Member (301 posts) Send PM | Profile | Ignore Sun Sep-21-08 04:58 PM
Response to Reply #1
51. Workers benefit under democrats and loss under republicans
http://www.nytimes.com/2008/04/27/magazine/27wwln-idealab-t.html

The cumulative effect of these partisan differences is
enormous. If the pattern of income growth under postwar
Republican presidents had matched the pattern under Democrats,
incomes would be more equal now than they were in 1950 — a far
cry from the contemporary reality of what some observers are
calling a New Gilded Age. 

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Warren Stupidity Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:47 PM
Response to Original message
2. Non-reviewable by any court or agency?
Edited on Sat Sep-20-08 08:48 PM by Warren Stupidity
WTF? This shit could write himself a check for 700,000,000,000.00. That is nucking futs
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halobeam Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:53 PM
Response to Reply #2
4. Yeah it IS nuts, and that's what makes it most believable that it will happen.
The Crazier it is, chances are it will be. I think we have no more use for drugs; aka...THIS is your brain on New America! *frying pan not included.
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tech3149 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:13 PM
Response to Reply #4
9. Reminds me of Firesign Theater
"I think we're all bozo's on this bus"
I keep waiting for Clem to break the president.
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mcollier Donating Member (887 posts) Send PM | Profile | Ignore Sun Sep-21-08 08:35 AM
Response to Reply #4
15. Good Line... But Sad As Hell
You mean to tell me that the FED, having already injected nearly $2 TRILLION over the past YEAR into the financial market, to help support the very corporations that are on the verge of collapse, We, The American People are asked to Bailout these very same corporations to the tune of $1.4 TILLION additional dollars...!!!!! WHoa, Whoa WTF are you Kidding ME!!!!!! What the Fuk did theses corporations do with all that damn money the FED has been pumping into the system over the past year....!!!

There is no way the American People are that damn stupid..... Right?
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1monster Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:49 PM
Response to Original message
3. I don't this this is possible under the Constitution. All government actions, contracts, etc., are,
by the fact that they are government actions, contracts, etc., reviewable by courts of law.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

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halobeam Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:55 PM
Response to Reply #3
5. Not possible under the Constitution is most probable under this administration. They go hand in hand
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kas125 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 08:58 PM
Response to Reply #3
6. Since when has the Constitution ever
gotten in the way of these criminals doing any damned thing they please?
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dgibby Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:04 PM
Response to Reply #3
7. WHAT Constitution?
Oh, you mean that "gd piece of paper", as George Bush so lovingly refers to it? That archaic document that's been gutted by this administration? THAT Constitution? It's soooo 1999, don't you know?:grr: :sarcasm:
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Mabus Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 11:51 PM
Response to Reply #3
13. It's the way the Founding Fathers would have wanted it
:sarcasm:
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progressoid Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:32 PM
Response to Reply #3
34. Constitution...how quaint.
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wildbilln864 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:06 PM
Response to Original message
8. k&r! nt
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PufPuf23 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:39 PM
Response to Original message
10. Impeachment should be on the table Monday
Fascism and WWIII is our immediate future otherwise.

It is probably too late.
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trthnd4jstc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 01:11 PM
Response to Reply #10
26. I agree with your post. n/t
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Pete2069 Donating Member (301 posts) Send PM | Profile | Ignore Sun Sep-21-08 05:12 PM
Response to Reply #10
54. Bush cut regulations opposition to interest of general public..
http://peaceonthat.blogspot.com/2005/08/magic-tricks-political-deceptions-of.html

Bush repuoblican administrations actions in 2004 

 The Bush administration is rewarding corporations with
regulation changes that are in direct opposition to the
interest of the general public. 

- The administration, at the request of lumber and paper
companies, gave federal Forest Service managers the right to
approve logging in federal forests without the usual
environmental reviews.

- The Mine Safety and Health Administration published a
proposed new regulation that would dilute the rules intended
to protect coal miners from black-lung disease.

- The Bush administration dropped a proposed rule that would
have required hospitals to install facilities to protect
workers against tuberculosis.

- The Department of Labor, responding to complaints from
industry, dropped a rule that required employers to keep a
record of employees' ergonomic injuries.

- The administration's 2004 budget proposed to cut 77
enforcement and related positions from the Occupational Safety
and Health Administration

- Last August the administration relaxed its clean-air rules
by allowing thousands of corporations to upgrade their plants
without having to install expensive pollution-control
equipment. 
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prayin4rain Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:53 PM
Response to Original message
11. That current article is awesome!! Thanks for posting! n/t
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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 10:57 PM
Response to Original message
12. Dee's gets it- great toon ...... Citibank or Citicorp and all the players
in their boats.

The federal reserve:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4044343&mesg_id=4044343


I plan on updating that thread with who the players are.
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ForeignSpectator Donating Member (970 posts) Send PM | Profile | Ignore Sun Sep-21-08 08:15 AM
Response to Original message
14. That current article is very awesome!
Why only 28 recs ???

People here that doubt the stuff? If so, I'd like to hear the reasons...
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:39 AM
Response to Original message
16. translation:
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts ...


translation: no bid contracts to bushies for privatizing management of bailout. can't have the bushies join us on the unemployment line, now can we?
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nolabels Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 12:26 PM
Response to Reply #16
22. Please prop up our faltering Wall Street casino with a donation of one trillion dollars
If we ask very nice with a pretty please :sarcasm:
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:41 AM
Response to Original message
17. Insanity...
The inmates are running the insane asylum.
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Dystopian Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 09:07 AM
Response to Original message
18. KandR
This is beyond frightening...I'm slipping into denial to save myself....
With nothing to lose ...only my home and sanity....
We're all in this together, yet I feel so alone.

peace~
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barbtries Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 09:41 AM
Response to Original message
19. this cannot be allowed to go through!
has obama weighed in on it yet? any members of congress? come tomorrow i'll be calling my reps. this is really scary shit, it just can't happen.
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truth2power Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 09:48 AM
Response to Original message
20. K&R n/t I'm speechless!
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bluesmail Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 09:56 AM
Response to Original message
21. 1) Appointing such employees as may be required to
'CARRY OUT' the authorities in this act and defining their duties. Sounds like they have 'back up' plans to use a mercenary group to 'arrest' the patriotic americans who definitely will be out in the streets protesting. Which is their right. Head hurts
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 12:33 PM
Response to Original message
23. My response to my Senators and to my Representative....
Honorable Sen. McConnell.

It has come to my attention that legislation before Congress to bailout the rich oligarchs that ran amok with investment money includes the following text:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.


Is it not unconstitutional for Congress to pass any law whereby that law is not reviewable by any court in this land?

Whatever happened to our wonderful system of checks and balances between the various branches of government?

What saddens me is that our Congress and this administration have no qualms with giving a trillion dollars in handouts and welfare to a select few investment houses and insurance companies but cannot educate its population nor provide them healthcare nor provide direct relief to those affected by the criminals on Wall Street (the ones losing their homes)

Do the right thing, Senator, and send this legislation to where it belongs: the trash bin.

To paraphrase that pioneer of free market thought, von Mises:

To intervene in a situation that itself was the result of a prior intervention often leads to the opposite desired result.

Every move made by the Federal Reserve and this administration to save what cannot be saved has only served to worsen the situation and now it is directly affecting the taxpayer through skyrocketing national debt and soon to be hyperinflation.

Thank you.
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 12:57 PM
Response to Reply #23
25. I think we need a trickle up theory
Edited on Sun Sep-21-08 01:09 PM by truedelphi
If it is really true that the whole reason that we are in this mess is because
people were sweet talked into buying homes using the sub prime mortgage instrument as the means to taking possession of said houses, then perhaps what we need to do is to TRICKLE up.

Yes let's take tht precious invisible money you Wall Street tycoonswant so badly and place it with the sector in America that tends to handle its affairs wisely or they would not survive from paycheck to paycheck, despite the unfair amount of taxation that that class faces..

So lets take seven trillion dollars and use it to pay off the existing mortgages of all home mortgage possessers in the USA

And don't forget those swamped with student card debt and credit card debt. (And please, don't whine to me that you have lived a great life and don't have debt - I will see that a clause is inserted in said bill to allow any and all of middle income means to have sixty days from the time of the passage of the bill to run out and create some consumer debt of your own. That trip to Zaire to visit the wildlife refuges - I advise you to book it NOW!)

Then when all this money is offered to these middle income debt holders, we will offer it back to pay our debts. And that seven trillion will then find its way into the hands of the people at the banking insititutions supposedly in trouble because of us, the unwashed, credit consuming masses.

What's that you say!?! You Boys at the Top don't like my idea? You are muttering something like, But it's really, but it's really the deriv...

Oh it is the derivatives that are really the probably? Is that what you are muttering?? It's not the morgage that some semi-employed teaching assitant holds, it's the fact that you packaged that mortgage into a bundle, and sold that bundle off to other banking institutions and re-sold that bundle off some 35 TIMES!

How come the M$M never mentions THAT!

Oh, I see, it would make you financial whiz kids lOOK bad.

So you say, I should just SHUT UP.

I don't think so. I think you folks might well be seeing what a mob with pitchforks and torches, with kegs of boiling hot tar and the smell of fresh plucked feathers looks and smells like!!

And this time us left wing nut cases will be joined by the RW nut cases. Bill O'Reilly is just as steamed as I am, for once.
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ann_american2004 Donating Member (480 posts) Send PM | Profile | Ignore Sun Sep-21-08 07:45 PM
Response to Reply #25
64. excellent post - IT'S A KATAMARI!!!
no one mentions the bundling. maybe because they dont know anymore what anything is worth because of it. Everytime I hear that term, bundling, I think of the game of Katamari.

"The rolling sticking, never stopping, ever swelling clump of stuff.."
IT'S A F*CKING KATARMI!!!!
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 12:35 PM
Response to Original message
24. they should do just enough to put the issue on the back burner until Obama gets in
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 01:14 PM
Response to Original message
27. BTW if you wanna know what a TRILLION dollars really is like, It would take
You spending one thousand dollars every six seconds for sixty years to spend a TRILLION dollars.

On the other hand, it takes Wall $treet investment people about six seconds to run through it. And Hallibruton and Blackwater could propbalbly spend it in half that time.

Which they will be able to do, if that three page piece of horse puckey "BAilOUT" legislation passes.
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nichomachus Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 01:15 PM
Response to Original message
28. The tech bubble came from the public
These were the people who were going to become zillionaires overnight. I knew people who quit their jobs to become day traders. I went into my local family-owned coffee shop one day. The owner and his wife -- who barely spoke English -- were sitting in the back watching the stock feed on CNBC and laughing over their "profits," while the kids worked the counter. (Shortly after the tech bubble burst, the coffee shop went out of business. I'm guessing they never had a chance to cash in on their "fortune."

People were mortgaging the house to buy stocks in companies that didn't make anything. Most of the internet stuff that came out was just crap. I used to go to a lot of trade shows and I remember going from booth to booth wondering -- why would anyone want a program that does that? Turns out, they didn't.

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Pete2069 Donating Member (301 posts) Send PM | Profile | Ignore Sun Sep-21-08 05:27 PM
Response to Reply #28
58. National debt by U.S. presidential terms
http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms
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George II Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 01:25 PM
Response to Original message
29. Any suggestions on what to do?
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Witchy_Dem Donating Member (496 posts) Send PM | Profile | Ignore Sun Sep-21-08 01:39 PM
Response to Original message
30. When I was just out of college and working for an OTC broker in the 80s
and all the brokers were republicans snorting up coke and driving gold mercedes or bmw735i's making over 50k a MONTH - they all laughed and voted Reagan and said over and over that they KNEW that someday the party would end and someone would have to pay the bill. They KNEW that they weren't the ones who would. I guess the tab just came in.
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graywarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 01:49 PM
Response to Original message
31. We just attended a house party supporting Carol Shea-Porter
from what I understand, she is going to Washington tomorrow to make a decision with congress to bail out wall st. Although she has not totally committed, she claims she will support it and she said it must be done immediatley! WTF? Why? WHY? Why are we continuing to get fucked up the ass? We're in debt because of an illegal war for which NO ONE WILL EVER BE HELD ACCOUTABLE, we have no medical programs, we're paying up the ass for gas, food, heat, water, and yet, we, the American people have to bail out Wall STreet!

I am more than pissed. Mainly because it seems like another scare tactic. What would happen if we did not bail them out? People will lose the 401K's. I've never had a 401K. I don't own a home.
Can someone tell me what would happen if we just sit and examine this things for a week? why do we need to jump in without any restraints on Wall Street and bail them out AGAIN. Meanwhile, their building ferris wheels in Iraq with our tax money. Who approved this?

I'm seeing red right now. I'm pissed at the dems right now. I am sick and tired of having nothing and being asked to take out a loan to bail out mother fucking greedy fucks.

Talk me down people!
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TomInTib Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 03:00 PM
Response to Reply #31
39. I would give it a shot, but....
I am too pissed off to see the damned keyboard clearly.

And you can bet your ass that some of those "hires" will be Blackwater personnel, hired to keep us from storming the Bastille.
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azul Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:45 PM
Response to Reply #31
45. Hit your reps with this as an alternative: give each taxpayer $3K,
and require this money to be held in a bank for 2 years.

This would keep the money in sight of the ones responsible for it and capitalize the banks to fix this mess that they and the financial industry got us into.
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:25 PM
Response to Original message
32. Why are the Clintons in the boat?

I don't think I have connected all the dots yet.
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mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:42 PM
Response to Reply #32
35. rayguns unfinished deregulation of the markets was completed
in the second term of the Clinton's presidency.
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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:47 PM
Response to Reply #35
36. and Hillary didn't divorce him... n/t
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:51 PM
Response to Reply #35
37. Got it


Repeal of the Glass-Steagall Act
http://en.wikipedia.org/wiki/Glass-Steagall_Act
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mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 03:06 PM
Response to Reply #37
40. thanks for the link
:patriot:
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Pete2069 Donating Member (301 posts) Send PM | Profile | Ignore Sun Sep-21-08 05:21 PM
Response to Reply #32
55. Clinton eliminated debt starts surpluses..
http://archives.cnn.com/2000/ALLPOLITICS/stories/05/01/clinton.debt/

Clinton announces record payment on national debt
May 1, 2000
WASHINGTON (CNN) - President Bill Clinton said Monday that the
United States would pay off $216 billion in debt this year,
bringing to $355 billion the amount of the nation's debt paid
down in the three years since the government balanced the
budget and began running surpluses. 


http://mises.org/article.aspx?Id=1235

What is Bush's record on spending? As Jeffrey Tucker and Lew
Rockwell have noted, it's awful. The Bush administration
inherited a federal budget of $1.86 trillion, and now proposes
to spend $2.3 trillion in 2004, for a whopping 23.6 percent
increase in federal spending in this short period. The Bush
presidency has far outspent Clinton's in every category. As
Cato's Chris Edwards says, "[B]ased on his first three
budgets, President Bush is the biggest spending president in
decades." To close the gap between spending and revenue,
said a report commissioned by the US Treasury, would require
an "immediate and permanent 66 percent across-the-board
income tax increase." 
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samsingh Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:31 PM
Response to Original message
33. So this is a gift to the repug morons who caused this failure
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satya Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 02:58 PM
Response to Original message
38. I would like to know if Paulson ever put his personal portfolio into a blind trust?
Though I'm sure any decisions he might make would be in the best interest of the entire country, and not just his own net worth. :sarcasm:
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 03:09 PM
Response to Original message
41. three trillion dollar plus frauds

I thought this summarized the three trillion dollar plus frauds very well
http://current.com/items/89322147_the_financial_meltdown_explained

Thanks for the link!
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lilyannerose Donating Member (106 posts) Send PM | Profile | Ignore Sun Sep-21-08 04:20 PM
Response to Original message
42. The Timing On This Just Smells Really Really Bad
If you view Georgie's Admin as a 24-hour day - the time is about 11:52 PM. Isn't it amazing that Wall Street failed just in time to get all of this no questions asked bail out. I've got this gut feeling that something is NOT right about any of this.
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azul Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:35 PM
Response to Original message
43. Boom and bust. Americans are optimistic and greedy, easy marks for hucksters.
The financial system tied to government is a recipe for disaster to the taxpayers, who are the dupes that are left holding the bill. It is a big confidence game in which all are profiting until the bubble bursts. Profitable risk takings with no downside for the monied investors.

Again and again, because the media is not on the side of the suckers, and can draw them in repeatedly.
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mrdmk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:39 PM
Response to Original message
44. K & R
Need to check-up on a few facts here. Will do later.
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Mr_Jefferson_24 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:45 PM
Response to Original message
46. K&R. Nice graphic.
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Tierra_y_Libertad Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:52 PM
Response to Original message
48. Not to worry. Our unflappable congress will put a stop to it.
:rofl: :rofl: :rofl: :rofl:
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 07:21 PM
Response to Reply #48
63. What's that up there?


:rofl: :rofl:
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:57 PM
Response to Original message
49. Fraud #4, the BIG timebomb -- DERIVATIVES, dumbfucks
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:58 PM
Response to Reply #49
50. Derivatives?
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 04:59 PM
Response to Reply #50
52. $1.14 Q-u-a-d-r-i-l-l-i-o-n $$$
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 05:00 PM
Response to Reply #52
53. President Obama is getting SET-UP for derivatives? $1.14 Quadrillion?
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mcollier Donating Member (887 posts) Send PM | Profile | Ignore Mon Sep-22-08 02:31 AM
Response to Reply #53
76. The rabbit hole goes deep
I can understand why Chuck Shummer said what he said today...

Scary as hell... But is this another peddled misinformation scheme???

I don't see how 700 billion puts a dent in the one quadrillion in the derivative shadow market. But I'll keep researching this.
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 05:22 PM
Response to Reply #52
56. Obama's Weimar


Weimar Republic woman uploads Hank Paulson dollars into furnace for extra heat value
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tnlurker Donating Member (698 posts) Send PM | Profile | Ignore Sun Sep-21-08 05:30 PM
Response to Original message
59. Kick and recommend
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ngGale Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 06:05 PM
Response to Original message
60. Kick...
This is a freaking nightmare!

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willing dwarf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 06:52 PM
Response to Original message
61. Is that the same blank check we gave to Paul Bremer?
Shoot, we've seen this movie before -- I didn't like the way it came out the last time, so it's probably not going be any better this time.
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BigBearJohn Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 07:17 PM
Response to Original message
62. Proud to be the 100th rec on this.
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mzmolly Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:08 PM
Response to Original message
65. Gee I wonder if the R's can divide us with this before the election?
n/t
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GuvWurld Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:09 PM
Response to Original message
66. your conservative friend fears immigrant labor...
but that language would also pave the way for no bid contracts to Halliburton and Blackwater to run domestic concentration camps
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blue97keet Donating Member (390 posts) Send PM | Profile | Ignore Sun Sep-21-08 08:44 PM
Response to Reply #66
71. Or H-1B's to help offshore the concentration camps.
and I am no conservative.
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Naturyl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:11 PM
Response to Original message
67. This bailout is a disgrace and a fraud.
This is a complete shameless rip-off. It's an enormous welfare HANDOUT for the rich in a country where we sneer at the idea of welfare for people who actually need it. Complete SCAM and racket. Privatize the gains, socialize the losses. Tony Soprano never had it so good. As Kucinich implored us, "Wake up, America!" This is a blatant fraud. We are being asked to fund the greed of the yacht class.
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alfredo Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:18 PM
Response to Original message
68. They are going to kill the economy for fun and profit.
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downindixie Donating Member (321 posts) Send PM | Profile | Ignore Sun Sep-21-08 08:26 PM
Response to Original message
69. Hell,I'm down to my last dime anyway
Edited on Sun Sep-21-08 08:30 PM by downindixie
as far as I'm concerned,let these institutions die a death they deserve.My in laws house is paid for and my wife,kids and I can move in with them.My father-in-law always grows a garden and has plenty of land to expand on it.
These companies took advantage of deregulation and now should pay for it,fire the CEO's,don't give them a penny.Fire the republicans and Dems who took the ride with them.Live long for the people of America!
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spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 08:28 PM
Response to Original message
70. i don't trust them to solve the problem they allowed to occur
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chimpyissatan Donating Member (14 posts) Send PM | Profile | Ignore Sun Sep-21-08 09:10 PM
Response to Original message
72. Just wait for the "compromise" they'll be "forced" to accept
This is an old story with this admin. Looking for a low Earth orbit, but sure you'll ver get it? Demand the Moon, then accept a "compromise." This strategy is how the plitical landscape has been shifted right over these two decades. Clinton got suckered this way every time.
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mcollier Donating Member (887 posts) Send PM | Profile | Ignore Sun Sep-21-08 11:03 PM
Response to Original message
73. Do Your Civic Duty!
Here's the damn link: https://forms.house.gov/wyr/welcome.shtml

Write your Congress Representative... Let them know where you stand on the bailout, seeing that they are supposed to be speaking on our behalf...




DO SOMETHING!

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mcollier Donating Member (887 posts) Send PM | Profile | Ignore Mon Sep-22-08 01:18 AM
Response to Reply #73
74. WARNING!!! -- Only click these links
if you want to see how far down the rabbit hole goes.

One Q - U - A - D - R - I - L - L - I - O - N DOLLARS

http://news.bbc.co.uk/1/hi/business/2817995.stm

http://www.freemarketnews.com/Linked-Commentary.asp?nid...

http://www.opednews.com/articles/IT-S-THE-DERIVATIVES-S...

http://en.wikipedia.org/wiki/Derivative_security

WARNING!!! -- Only click these links if you want to see how far down the rabbit hole goes.
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Jeffersons Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-22-08 01:41 AM
Response to Original message
75. great post but the graphic is misleading...
Edited on Mon Sep-22-08 01:42 AM by Jeffersons Ghost
The Federal Reserve isn't "Federal" nor does it have any Reserves. It's a privately held FOR PROFIT banking institution.

Does this have a nostalgic ring of truth to it?
Ask not for whom the bell tolls, when the next depression strikes.
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