rachel maddow just reported bu$hco has had this economic plan written for months

[spanone]

the evil is in the details

folks this is a scam of the greatest proportions.....cheney was on the hill lobbying for it today....last time was the iraq war resolution....

[SeattleGirl]

1. At least this time, the Repubs didn't all bend over for Cheney. n/t

[spanone]

2. they don't want the stench on them....cheney and bu$h* will be long gone

i think they thought congress would buckle

[avaistheone1]

34. Yup. Paulsen said he and Bernanke had been discussing this for 12 months.

Now they want Congress to act overnight with less than a half-baked plan to address the problem.

I have no confidence at all in Paulsen's solution.

[malaise]

3. No No No

Worse than that - she reported that the WH Deputy Press Secretary, Fratto (sp) said that Bushco had this plan written for months. That is very big news. I saw it here earlier today and made a comment, but I did not know the source was the WH Deputy Press Secretary.

add.

[spanone]

4. the patriot act ALL OVER AGAIN

[malaise]

16. Bingo

Dems are being taken for a ride. I listened to a great discussion on PBS and there is no need for this to be done before the elections. Just Say NO Dems.

[TomInTib]

5. This is their defense in this rush to judgement.

They are trying to defend themselves from the perception that this was thrown together.

"Trust us, for we have given this some deep study."

Either way is quite damning.

[spanone]

6. i'm sure they've had lawyers involved who put it on the precipice of lawlessness

[ljm2002]

19. "Either way is quite damning"...

...exactly right!

I hope more and more people let their representatives know how they feel about this ridiculous plan, and that they should "just say no".

I called my two senators, my congressman and Nancy Pelosi today and talked to staffers in their DC offices. I told them that after reading the Roll Call article about the administration having had this plan ready for weeks or even months, I do not want them saying yes to this plan -- how can we all of a sudden have this emergency, after being assured all this time that "the fundamentals are sound" -- it doesn't pass the smell test. I also told each of them that I'm madder than hell. They said they'd pass it on... :-) I don't know if it will do any good, but the more people they hear from, maybe the more they will realize there is an intense interest in this and people are not happy, not happy at all.

The curtain has been pulled back on the scam, and a lot of us are getting more and more pissed about it.

[Canuckistanian]

36. Never thought of that, BUT...

If they DID realize that a meltdown was coming, then why did they do nothing?

What did he know...and when did he know it? The eternal political question.

[endthewar]

9. I heard Paulson essentially say this during his testimony

He said it indirectly. Something about how they had been working on it for a long while, implying that they knew about this problem a while ago.

[Raster]

7. If bush*co had this economic plan written for months, why didn't they step in and do something?

You know, maybe warn us? Or begin an immediate course of action to avert this "financial meltdown"?

[Nikki Stone1]

8. It means the "meltdown" was engineered.

And the funds to go to ?? (that's the question.)

[spanone]

10. initially they wanted paulson to have total control that even the courts couldn't question

this should send off alarm bells worldwide

[Nikki Stone1]

12. I guess they thought they could panic everyone into making it work.

My question is how long ago was the scam planned and for what reason? I don't think it's just about greed. I think this money is being skimmed off for something and we are supposed to foot the bill.

[spanone]

13. it 'happened' a week before congress was set to adjourn to go and campaign

they were definitely trying to force a vote.....

[Nikki Stone1]

17. Well fuck campaigning.

And we need to keep a close eye on Congress for the next couple of weeks.

[malaise]

30. Keep Dems out of their states and districts so they can scrub the roll

Just Say No and shut down Congress. Fuck Bush!

[MissWaverly]

14. agreed, a slush fund to steal another election with

just like the disappearing money from the workmen's comp fund in Ohio that supposedly went for beanie babies, har
har. If it wasn't so sad, it would be funny.

[Nikki Stone1]

18. That's too much for just stealing an election

There is more at stake here.

[MissWaverly]

43. well, how about a pot to fund the GOP down the road

I think they will be cash poor for a month of sundays.

[malaise]

21. Not just the funds

They will decide who runs these firms.

[Jeff In Milwaukee]

11. And they could only come up with a three-page plan?

What? Did their dog eat the rest of it?

[ljm2002]

20. Well, in fairness...

...when your 3-page plan includes "and I will have total control and no decision I make can be reviewed by any body or agency" (or however the hell it was phrased) -- you don't really need more pages, you've got what you need.

[Jeff In Milwaukee]

22. But, you see, THAT'S what I don't get...

If you're going to drop a bomb like that, don't you bury it on page 1,245 of a document so dense that nobody will ever read the whole thing?

Certainly they MUST have known that somebody would notice.

[OnyxCollie]

38. Actually,

it's a very lengthy stick-up note.

[Blue Diadem]

15. Link about April meetings and early warnings

Here are the links to the articles.

http://www.marketwatch.com/news/story/g7-government-officials-top-global/story.aspx?guid=%7B53CAC551-50CB-4BE1-BF28-E6FBAB675C2C%7D

(At this meeting they were speculating that about 945 Billion would be needed over 2 yrs.)

G7 to break bread with global bankers
April 9, 2008

WASHINGTON (MarketWatch) --

snip:
Behind closed doors, the G7 will review and endorse a plan negotiated under the auspices of the Financial Stability Forum, a little-known umbrella group of the world's top central bankers, supervisors and other financial officials.

There is little drama about whether the G7 will approve the plan, because the governments had ample time to scuttle unpopular ideas behind closed doors. But some details may be changed at the closed-door meeting Friday.

"I expect that the recommendations of the Financial Stability Forum, perhaps amended somewhat, will be adopted by the ministers and the central bankers," Canadian Finance Minister Jim Flaherty told reporters.

McCormick said that the U.S. will press for quick implementation of the FSF proposals. "I think what you will have is a very focused discussions on what the recommendations are, how they can move forward as quickly as possible."

--------------
RBS issues global stock and credit crash alert june 2008

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2791861/RBS-issues-global-stock-and-credit-crash-alert.html
-------------

Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve june 2008

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/2791683/Morgan-Stanley-warns-of-%27catastrophic-event%27-as-ECB-fights-Federal-Reserve.html

[Spiffarino]

23. Shock Doctrine!

They're doing it again.

All this stuff was planned. Every time we get hit hard, they pass laws to fuck us while our heads are turned.

[seemslikeadream]

24. LIHOP

[Supersedeas]

25. the shock doctrine right here - right now

[OmmmSweetOmmm]

26. This was talked about in today's hearing and I think Paulson should be a target of the

"FBI Investigation".

[lostnotforgotten]

27. Well What Do You Know - This Cannot Stand!

These bastards have to go down now!

[McCamy Taylor]

28. Please read my post from earlier. I think this could be related to plans to invade Iran.

I did not know that this plan had been in the works for months or that it was Cheney's baby when I wrote this journal earlier, but that fits with my suspicion that the amount ($700 billion) is suspicious in that it covers China's exposure in U.S. debt. I think that this is a massive expansion of the same thing we saw in The Iraq War--the Coalition of the Bribed.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4070235

[Marie26]

For a 3-page plan

that looks like it was scribbled on the back of a notepad. No oversight, no details, no plan. Because it was always meant to be a simple handover of public funds to cover up the massive illegality & fraud, if needed. The Bush Ad. is coming to an end, the FBI is circling, Goldman Sachs is going under, so it's time to take the money & run.

[spanone]

31. bingo2

[paparush]

29. The Economic Patriot Act for the Economic 9/11. (Mihop / Lihop in play)

[bluesmail]

32. I don't want to jinx anything, but GD It, I do believe they are

in a corner and scratching at ANYTHING to get 'free'.

[tomp]

40. the question is...

....will the dems let them go. a trillion dollars fills a lot of pockets.

[cliffordu]

33. When did mcCain know about the plan??

[bridgit]

35. Years I'd say. This is the largest leveraged buyout/takeover Carlyle has ever endeavored...

And thanks to junior its rolling along according to plan

[jimlup]

37. Link??

[OakCliffDem]

39. K & R

[bklyncowgirl]

41. Another massive redistribution of wealth from the Bush folks

They knew this was coming and instead of cracking down on the gamblers on Wall Street, they knew they could cry panic and get more for the investor class from Doofus Americanus (the American Taxpayer).

[southern_belle]

42. k & r n/t