We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

[Zarathustra]

http://www.prisonplanet.com/we-have-...ower-grab.html


We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

George Washington’s Blog
Sunday, Sept 21, 2008

Congress hopes to pass the $700 Billion bailout bill by Friday, according to an article in Bloomberg.

In case you haven’t heard, the bill would not only stick up American taxpayers for an additional $700 billion, but would literally give Paulson and the government fascist powers.

Don’t believe me?

Well, as the Bloomberg article notes: “The bill would bar courts from reviewing actions taken under its authority.”

Bloomberg includes the following quotes by people who understand the significance of the bill:



It sounds like Paulson is asking to be a financial dictator, for a limited period of time,” said historian John Steele Gordon . . . .

***

The Bush administration seeks “dictatorial power unreviewable by the third branch of government, the courts, to try to resolve the crisis,” said Frank Razzano, a former assistant chief trial attorney at the Securities and Exchange Commission now at Pepper Hamilton LLP in Washington. “We are taking a huge leap of faith.”



This power grab is so serious that investigative reporter Larisa Alexandrovna calls it “the final stages of the coup“.

We have days to stop this bill. March on Congress. Educate and motivate everyone around you. Do everything you can to prevent this disaster before it is too late.

[GFWeye]

TRUE..

Check the rest of the posts to boot!

http://www.larouchepac.com/news/2008...t-swindle.html

[King Lear]

How the system works!

[shaundelear]

So it's daylight robery? and I bet taxpayers are paying the interest too.
Where are the American heros? Nobody willing to step up and blow the whistle?
They still have not handed over a cent on the bailouts.
German banks transfering money to bankrupt companies ? 300 million euros
If Americans dont know how much is in the Federal reserve how can they accept writing off $700BILLION?
If the USA is allready bankrupt for TRILLIONS how can they bail out these companies?
Should thier debtor nations not be paid first?
This is a clever tactical smokescreen to gain more power.
Maybe the US people should stand tall and concentrate on getting thier house in order rather than wrecking the remaining free world in the name of DEMON-OCRACY.

[Zarathustra]

Originally Posted by shaundelear

So it's daylight robery? and I bet taxpayers are paying the interest too.
Where are the American heros? Nobody willing to step up and blow the whistle?
They still have not handed over a cent on the bailouts.
German banks transfering money to bankrupt companies ? 300 million euros
If Americans dont know how much is in the Federal reserve how can they accept writing off $700BILLION?
If the USA is allready bankrupt for TRILLIONS how can they bail out these companies?
Should thier debtor nations not be paid first?
This is a clever tactical smokescreen to gain more power.
Maybe the US people should stand tall and concentrate on getting thier house in order rather than wrecking the remaining free world in the name of DEMON-OCRACY.

difficult to find an argument

[arcora]

They're voting to put Al Capone in charge of the vault.

[Zarathustra]

Originally Posted by arcora

They're voting to put Al Capone in charge of the vault.

Even worse, because Capone didn't target the average citizen.

[MyShadow]

Looks like the Dem's are trying at least to modify it. Or is that their role - to play the part of lining up to accept side-blame. We shall see.

MyShadow

[Zarathustra]

Originally Posted by MyShadow

Looks like the Dem's are trying at least to modify it. Or is that their role - to play the part of lining up to accept side-blame. We shall see.

MyShadow

Don't count on them for any help, they very much co-conspirators in this criminal con game. There is no help coming until we jerk the entire lot of them out of their beds and recreate the Neuremburg trials for their benefit.

Z

[Zarathustra]

Democrats Pledge Quick Action on Rescue Legislation
http://news.yahoo.com/s/bloomberg/akp5ytcrbhpe

That article should tell anyone who had hope via the democrats to stop dreaming.

[JSErwine]

LOL, why would the Dems want to stop this, it plays right into their political agenda.

[Zarathustra]

Originally Posted by JSErwine

LOL, why would the Dems want to stop this, it plays right into their political agenda.

That, and the fact that they are equally complicent in the crime, and benefit equally from it.

[sfth13]

here's some more hot air from the National Taxpayers Union

http://www.ntu.org/main/press.php?Pr...6&org_name=NTU

For Immediate Release Sep 16, 2008
For Further Information, Contact:
Peter J. Sepp, Natasha Altamirano, (703) 683-5700
Amidst Senate Hearings and Stock-Slumps, Taxpayer Group Vows New Fight Against Bailouts for Freddie, Fannie, Others

(Alexandria, VA) -- Participants in Senate hearings today have hinted that the bailout of Fannie Mae and Freddie Mac is a done deal and more may be necessary, but the 362,000-member National Taxpayers Union (NTU) disagrees. The group vowed to wage a grassroots campaign supporting efforts to scale back the Fannie/Freddie bailout and protect taxpayers from further harm.

"When Treasury Secretary Paulson fired the self-described bazooka Congress gave him to rescue Fannie and Freddie, his mission seemed to be 'shoot at taxpayers' wallets first and ask questions later,'" said NTU Vice President for Policy & Communications Pete Sepp. "Hopefully now they'll realize that the painful stock-market correction is still less traumatic than the consequences of expanding the government's half-trillion-dollar portfolio of financial bailout liabilities."

NTU has long sought reforms that would cut the government's purse strings to Government-Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac. In 1989, NTU's then-Chairman warned in testimony before Congress that, "[D]espite dramatic increases in borrowing by GSEs, too little is known about the magnitude of the very real risks underwritten by American taxpayers." Less than two months ago, NTU recommended nine pro-taxpayer prescriptions for mitigating Fannie and Freddie's financial woes in an open letter to Congress. Few of those reforms were enacted into law.

For that reason, NTU has launched a new initiative -- centered upon cyber-alerts, talk radio, and Capitol Hill lobbying -- designed to curtail the government's authority to put taxpayers on the hook for this or future bailouts. Specific proposals include:

Truth in Budgeting. Unless Fannie and Freddie are privatized, their liabilities should be part of the federal budget, not "off the books." This recommendation from the Congressional Budget Office should be cemented into law.
Make it Shorter. Rep. Connie Mack's (R-FL) recent call to "ensure [the bailout] is temporary and short" deserves support; Congress should pressure the Treasury to shrink Fannie and Freddie more quickly than the 10-year period Paulson envisions. Rep. Scott Garrett's (R-NJ) bill to encourage a "covered bond" market will help private institutions stabilize and streamline mortgage financing. This in turn can aid an economic recovery.
Stop the Slush Fund. Rep. Michele Bachmann (R-MN) has urged Federal Housing Finance Agency Director Jim Lockhart to suspend GSE financing for the "Housing Trust Fund," a political giveaway to left-leaning housing activists.
Don't Go Backward. Congress should reject "go-soft" proposals such as a 90-day moratorium on GSE foreclosures that would raise the burden on taxpayers.
"Lehman Brothers aside, the government's actions toward Bear Stearns, Fannie and Freddie, and now handout requests from Detroit automakers could signal an ominous new trend of meddling in markets," Sepp concluded. "Politicians have been digging taxpayers deeper into the fiscal hole, and we have to take their shovels away before we're all buried for good."

NTU is a nonprofit, nonpartisan citizen group founded in 1969 to work for lower taxes, less wasteful spending, and accountable government at all levels. Note: More information on NTU's work in the area of GSE policy is available at www.ntu.org.

[Zarathustra]

At least I can agree with them on principle. What else can I say?

[Realview]

My answer is that there is no national debt. It's all Illuminati right hand paying Illuminati left hand perpetuating the scam.

[sfth13]

I know how you feel. Sometimes I just want to bang my head agaist the wall cuase I think i'm the only one seeing what's going down.

[Zarathustra]

Originally Posted by sfth13

I know how you feel. Sometimes I just want to bang my head agaist the wall cuase I think i'm the only one seeing what's going down.

I want to bang someone else's head against a wall

[sfth13]

Originally Posted by Zarathustra

I want to bang someone else's head against a wall

That is a better idea!

[Zarathustra]

I'll start with a solid brick wall and Henry Paulson

[Zarathustra]

I strongly encourage everyone to email, fax, and call the offices of your congressmen and let them know your opposition to this fleecing of America.

[FrostyMcunicron]

Dont let them put that debt on our heads.

King leer, may i repost that cartoon on other forums to spread the message?

[King Lear]

Originally Posted by FrostyMcunicron

King [L]le[a]er, may i repost that cartoon on other forums to spread the message?

Of course my friend

[Trippin Ninja]

Looks like it could be too late already .......

Deal reached on $700B bailout

Justin Hyde
Detroit Free Press
September 25, 2008

Congressional leaders from both political parties said today they had agreed to the outlines of a proposed $700 billion bailout of U.S. financial markets, with limits on executive pay and help for homeowners in distress.

The agreement came a few hours ahead of a meeting called by President George W. Bush with House and Senate leaders, along with presidential candidates John McCain and Barack Obama this afternoon.

Lawmakers said many of the final details were still being hammered out, and that the deal still needed input from the Bush administration, but that the map for the largest government move in the U.S. financial system since the Great Depression had been drawn.

“We are prepared to act expeditiously on a plan with our colleagues that will allow us to send a very strong message to the markets,” said Sen. Christopher Dodd, D-Conn.

The Dow Jones Industrial average was up about 240 points after the deal was announced.

Sen. Bob Bennett, R-Utah, said lawmakers had a deal “that will pass the House, pass the Senate, be signed by the Senate and bring a sense of certainty to the markets.”

http://www.infowars.com/?p=4855

[Steve_A]

Hi Zarathustra,

It seems that most Americans are being sucked in to beleiving that te 'rescue' of Wall Street is costing only 700 bil. That number is being batted around a lot to make the people think that that's all the government will use for this action.

The bail out started with Fannie May & Co. That started around 35 bil, then AIG at 850 bil, so with this EXTRA 700 bil you are looking at something like 1535 bil or in other words 1 trillion 535 billion.

If the US government has that in hands right now I don't know, but all the same, that is just to get the house in order, as the government says, to keep credit flowing. What they don't say is that it was the flow of credit which started all of this in the first place and they expect the people to think that after this bail out everybody will be able to get credit again.

I think not.

Credit in the US will become extremely hard to get after the bail out as these companies will be scrutinized more closely (it is hoped) if they are succesful in their endeavour of getting a helping hand from the government (population).

Best regards,

Steve

Originally Posted by Zarathustra

http://www.prisonplanet.com/we-have-...ower-grab.html


We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

George Washington’s Blog
Sunday, Sept 21, 2008

Congress hopes to pass the $700 Billion bailout bill by Friday, according to an article in Bloomberg.

In case you haven’t heard, the bill would not only stick up American taxpayers for an additional $700 billion, but would literally give Paulson and the government fascist powers.

Don’t believe me?

Well, as the Bloomberg article notes: “The bill would bar courts from reviewing actions taken under its authority.”

Bloomberg includes the following quotes by people who understand the significance of the bill:



It sounds like Paulson is asking to be a financial dictator, for a limited period of time,” said historian John Steele Gordon . . . .

***

The Bush administration seeks “dictatorial power unreviewable by the third branch of government, the courts, to try to resolve the crisis,” said Frank Razzano, a former assistant chief trial attorney at the Securities and Exchange Commission now at Pepper Hamilton LLP in Washington. “We are taking a huge leap of faith.”



This power grab is so serious that investigative reporter Larisa Alexandrovna calls it “the final stages of the coup“.

We have days to stop this bill. March on Congress. Educate and motivate everyone around you. Do everything you can to prevent this disaster before it is too late.

[Trippin Ninja]

This bailout itself doesn't stop at 700 billion.

Paulson’s draft bailout plans says: “The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”

As Chris Martenson writes, “This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.”